Professional Adventist. Building A Community of Adventist Business Entities

12/31/2015

https://hbr.org/2015/10/helping-an-employee-overcome-their-self-doubt

12/29/2015

12/24/2015

http://www.nytimes.com/2015/12/24/business/smallbusiness/small-businesses-get-a-permanent-tax-break-on-buying-equipment.html?_r=0

12/23/2015

http://www.nytimes.com/2015/12/23/business/dealbook/sued-over-old-debt-and-blocked-from-suing-back.html?ribbon-ad-idx=15&rref=business/dealbook&module=Ribbon&version=context®ion=Header&action=click&contentCollection=DealBook&pgtype=article

03/17/2014

Not every idea is a good one and just because your mom thinks it’s great doesn’t mean it is. Too many of us suffer from the “if we build it, they will come” mentality which can be equally tempting and dangerous. Just because you are obsessed with your dogs and think the world is clamoring for the introduction of canine teeth whitening pens doesn’t mean it will be a hit. It’s easy for something to seem like a great idea initially but several key questions should be asked to help determine whether the idea is truly solid:

Is there a need? How significant is the need?
How much competition currently exists in this space?
How large is your potential customer base?
Do you have a unique ability to provide this product/service?
Do you have experience/passion in this area?
Are there trends in the marketplace/industry that might make my produce/service more or less attractive going forward?

10/28/2013

Dozens of federal tax breaks are scheduled to end on December 31 unless Congress extends them. No one knows for sure which ones, if any, will apply next year, so business owners should explore expiring rules and take advantage of them while they can. Here are some expiring breaks that may appeal to you:

Break 1: Faster write-offs for buying needed equipment

Need to upgrade your computers? Provide staff with tablets and smartphones? Add new machinery? You have two better ways to deduct your costs this year than merely depreciating the costs over a number of years:

Deduct up to $500,000 of the cost of qualified equipment (whether new or pre-owned) this year as long as you’re profitable. Next year, the deduction limit is scheduled to be $25,000.
Deduct 50% of the cost of new qualified equipment, even if it adds to or creates a business loss. Next year, this deduction is set to disappear entirely.

Note: You can use either break even if you finance your purchase in whole or in part.

05/02/2013

[T]he best leaders understand that you can't do everything at the same time, with the same energy and speed, and with all the resources at your disposal."
-- Howard A. Tullman

01/09/2013

Business Plan
The two main reasons why most entrepreneurs decide to create a business plan: 1) to raise funding, and 2) to identify and document their game plan for achieving success.
1. Business Plans for Raising Funds
When raising funding, whether or not you need a business plan depends upon the source of funding you are seeking.
SBA Loan
For example, if you are seeking a bank or SBA loan, you need to present a business plan. Period. The bank needs to check that requirement off their list, so if you don't have it, you won't get the loan.
Sometimes a simple a 5-7 page plan and complete financials proving you'll be able to repay the loan is sufficient.
Investors
Angel Investors. Virtually all angel investor groups require you to complete an online application that resembles a business plan. For example, you'll need to answer questions such as what the size of your market is, what the wants and needs of your customers are, and the key members of your management team.
Raising Funding is Competitive
It is important to note that raising money is very challenging. For every investor (angel, investor or bank), there are hundreds if not thousands of entrepreneurs seeking their money. So, raising funding is very competitive and the odds are highly stacked against you.
As such, you need all the ammunition you can get. And the business plan is one piece of that ammunition. In this regard, you should view your business plan as a marketing document. You use it to convince a lender or investor to write you a check. It is not a stodgy 50 page document, but rather should be more like a brochure that gets the reader to turn page after page. They should be excited to get to the end, as each page should make them more and more certain that your company is a solid investment opportunity.
2. Business Plans to Document Your Game Plan For Achieving Success
As mentioned above, the second reason why entrepreneurs create a business plan is to identify and document their game plan for achieving success.
Numerous studies have found positive correlations between the success of businesses and the presence of a formal business plan. And every successful corporation I know of requires annual business planning for all key business units.
Here's the key: the process of creating a business plan forces you to think about the key elements of your business. It forces you to look at who your competitors are; how your market landscape is changing; how your customer needs are evolving; how your products and services stack up; who your team is and what new team members are needed; etc.
If you don't assess your business through such a business planning process, and use it to create a game plan and strategies for success, your competitors will quickly surpass you.
(Adopted form correspondence between Mike Love and Dave Lavinsky)

09/07/2012

3 Techniques Bill Clinton Uses To Wow An Audience

Bill Clinton has decades of public-speaking experience, a deep well of charisma, and record high favorability ratings. But even mere mortals can borrow a few of his simple techniques to make our own presentations shine.
President Bill Clinton took primetime stage at the Democratic National Convention last night and once again mesmerized, tantalized, and energized his audience.
Watching his performance, it’s easy to forget this is the same guy who was almost booed off the stage at another Democratic Convention 24 years ago while introducing candidate Michael Dukasis.
The relatively unknown Clinton of those days was scheduled to speak for 15 minutes, but droned on for over a half-hour. His biggest applause line came at 32 minutes, when he said, “and in conclusion…”
But always the Comeback Kid, Clinton saw his failure and focused with laser intensity on polishing his speaking abilities. And most folks today, regardless of political leanings, recognize him as one of the best speakers of any generation.
The basic speaking techniques Clinton embraces, front and center last night in Charlotte, when he impressively ad libbed about 15% of his speech, to great effect, can be used by you to boost your presentation skills.
1. He knows when to stop and go.
Clinton uses hard-stop pacing to add emphasis to lines like: “We’re going to keep President Obama on. the. job.” and “President Obama started with a much. worse. economy.” In those moments, he squeezes every word for maximum impact.
And Clinton has no fear of dead air, using frequent pauses to garner attention and gain drama: "Listen to me now. [pause] No president, [pause] not me, [pause] not any of my predecessors, [pause] no one could have fully repaired all the damage…"
2. His gestures sync with his words.
Clinton’s best visual aids are his hands. His arm movements are open and wide, relaying an image of accessibility and authenticity.
To guide the audience’s emotion and attention, he often extends his hands with palms facing up or out: “Let me ask you something [palms up]…” or “Folks, this is serious [palms out]…”
He’ll also overlap hands in front of chest to reinforce intimate statements such as, “This is personal to me…”
As in earlier years, his index fingers serve as tireless pointers, but he uses less of the short, jabbing motion familiar in the past. He now lets his index finger flow through the air, with an element of inclusion, as he says things like: “And I hope you and every American remembers…” Or he’ll bring one index finger downward as a long, slow declarative action when saying “…and far more important, it passes the value test.”
3. It's how he says it, as much as what he says.
If you subscribe to Mehrabian’s formula of communications as 7% verbal, 38% vocal and 55% visual, then you’ll appreciate how Clinton uses facial expressions to put his words on display.
He offers a small, knowing smile when saying, “and that brings me to health care…”
He raises his chin in defiance when saying, “let’s take a look at what’s actually happened so far…”
Clinton bites his bottom lip with frustration after stating, “and they refused to compromise…”
And he squints his eyes with determination when delivering lines like, “democracy does not have to be a blood sport…”
Use Clinton’s techniques to up your speaking game.
Am I suggesting you try duplicating Bill Clinton’s delivery? Absolutely not. A speaker must be true to herself or himself. But the advice I offer to my presentation-skills workshop participants is this: When giving a presentation, be yourself--but be the best version of yourself. Your audiences expect and deserve your very best when you’re before them.
As you prepare for your next presentation, review Clinton’s Wednesday-night speech. Then practice using pauses, pacing, gestures and facial expressions to help your talk rise to a higher level of likability and effectiveness.
Excerpt http://www.fastcompany.com/user/sam-harrison

Sam Harrison Owner / Partner, Sam Harrison - Speaker and Author Atlanta, GA Sam Harrison is a popular speaker and best-selling author on creativity-related topics. He has years of successful experience in creative agency, corporate, freelance and consulting roles. He was a senior vice preside...

08/27/2012

Successful People’s Approach To The First Hour Of Their Work Day

Do you realize how much your active in the first hour of your day impacts your daily production? Well, a good look at your action tells a lot. It is the hour you see everything clearly, get one specific thing done, and map your approach for the entire day.

Never Check Your Email for the First Hour.
If you have very important email that you must see first thing in the morning use a program that will isolate that specific email so you only read that one should you have to open your email. Try AwayFind it is a program that isolate specific email.
Gain Awareness, Be Grateful
For this we turn to Tony Robbins, he suggests setting up an “Hour of Power,” “30 Minutes to Thrive,” or at least “Fifteen Minutes to Fulfillment.” Part of it involves light exercise, part of it involves motivational incantations, but the most accessible piece involves 10 minutes of thinking of everything you’re grateful for: in yourself, among your family and friends, in your career, and the like. After that, visualize “everything you want in your life as if you had it today.”
Do the Big Lifting First
Choose your toughest task tackle it first. You are fresh, energized and clear thinking.
One benefit to tackling that terrible, weighty thing you don’t want to do first thing in the morning is that you get some space from the other people involved in that thing--the people who often make the thing more complicated and frustrating. Without their literal or figurative eyes over your shoulder, the terrible thing often feels less complex, and you can get more done.
Ask Yourself If You’re Doing What You Want to Do
Feeling unfulfilled at work shouldn’t be something you realize months too late, or even years.
“Customer Service” (or Your Own Equivalent)
Your own version of customer service might be keeping in touch with contacts from year-ago projects, checking in with coworkers you don’t regularly interact with, asking questions of mentors, and just generally handling the human side of work that quickly gets lost between task list items. Do your customer service on the regular, and you’ll have a more reliable roster of helpers when the time comes.
http://www.gmlenterprise.biz

08/09/2012

1. Incorrectly pronounce a client's name. Nothing frustrates people more than hearing their name pronounced incorrectly—or called by another name altogether. Do your research in advance and know all the names (and pronunciations) of the people you will be working with. When you meet someone new, write down his or her name along with the phonetic spelling in your notebook—or just simply ask the person how his or her name is pronounced at the very beginning to save you the embarrassment.

2. Incorrectly pronounce company name. Just like our own names, the name of our company is extremely important. Know how to spell and pronounce the company name of all your clients, paying close attention to spelling and capitalization—especially intercaps (PayPal, eBay, etc.).

3. Quote a price range. When you are discussing prices or deadlines, you and the customer will both hear what they/you deem most favorable in the range you've cited. When it comes to prices, if you say, "between $500 and $700," the customer will hear the low number and you will hear the high number.

4. Make observational statements based on assumption. One of my sales reps once approached a female client and said, “Congratulations! I just noticed. When are you expecting?” She wasn’t!

5. “We really need this project.” Even if you do, this tells the client one thing: Your business is unstable.

6. “What does your company do?” When it comes to building relationship, asking questions and listening is essential. That is unless the questions you ask indicate that you haven’t prepared in advance. Clients want vendors who are prepared. So instead of asking what your client does, say “From my research I understand you do financial consulting. Tell me more.”

7. “We will put our A-team on your project.” It sounds like you are catering to the client, but it indicates that the rest of your company is the B-team. Instead, tell your client, “Our entire company is made up of the best people in the industry. I have cherry picked specific team members who have strong backgrounds in your specific needs.”
8. “I am sorry, but. . .” The word “but” gets interpreted by your client as “I won’t make the effort.” The word “but” signals “I give up.” Instead use the word “and.” For example, “I am sorry, and here is the resolutions I have come up with.”
Taken from Mike Michalowicz author of "The Pumpkin Plan" and "The Toilet Paper Entrepreneur"
Http://www.gmlenterprises.biz

05/09/2012

Independent Contactor or employee?

In order to save money in a tight economy and limit liability, many businesses are using independent contractors to serve functions typically served by employees. Be careful, companies using independent contractors will give you an income but they can discriminate against you and most dastardly pay you less than minimum wage or overtime.

Who cares whether a business classifies someone as an independent contractor or an employee? The U.S. Labor Department and the IRS!!!!!

The IRS uses a 11-factor test to determine whether someone is an independent contractor or employee:

Behavioral Control
1. Instructions that the business gives the worker
2. Training that the business gives the worker
Financial Control
3. The extent to which the worker has unreimbursed business expenses
4. The extent of the worker's investment
5. The extent to which the worker makes his or her services available to the relevant market
6. How the business pays the worker
7. The extent to which the worker can realize a profit or loss
Type of Relationship
8. Written contracts describing the relationship the parties intend to create
9. Whether or not the business provides the worker with employee-type benefits, such as insurance, a pension plan, vacation pay, or sick pay
10. The permanency of the relationship
11. The extent to which services performed by the worker are a key aspect of the regular business of the company
So, be careful just because you need an income you may be sacrificing your rights and opening up yourself to be discriminated against…..not to mention you “forgetting” to pay the appropriate taxes. The IRS is a bad dude it will not garnish your income it will TAKE YOUR BANK ACCOUNT!!!
http://www.mickeyanderson.com