I am going to write something that may not be popular, but if it offends you in anyway, it probably means that I'm writing this for you. I'm writing this to help you...not to criticize or belittle you. I want every entrepreneur to continue to grow throughout his online career and sometimes when we don't accept change...we stop growing. I don't want that to happen to you.
Lately, I've seen a lot of online service-based business complain that cheaper alternatives are driving them out of business. I've seen virtual assistants angry that anyone would work for US $10 per hour. I'm surprised by that anger because $10 is above the minimum wage in every single state in the U.S. and province in Canada (2005 statistics). Yes, I know running a VA business carries expenses, but many people working online just want enough to be able to stay home, instead of trudging to a crappy job. Good for them for being resourceful.
I've seen article writers and article distribution services annoyed that new software and automated process are cutting into their bottom line and causing them to lose clients. It seems the hay days of getting paid $100 plus per article are gone...or are they?
If you're letting your business die because lower cost services are coming in - it's time for a wake up call. Complaining isn't going to get you anywhere, except possibly bankruptcy. As more and more people come to work online, there's going to be a lot of people working for what you think is chump change. As programmers get more creative with technology, more processes will become automated.
A smart business person will make competition irrelevant...or as irrelevant as is humanly possible. If you are trying to get your typical "Internet marketer on a budget" to hire you for $25 per hour to answer his emails...you probably will lose out to the moms who just want to earn an hourly wage to stay home with their kids. But if you set yourself apart and target a market that doesn't want to nickel and dime and perceives more expensive services as more professional --- your client list will grow. If you have satisfied clients paying $25 per hour, they can always refer more clients who will pay $25 per hour.
If you're a writer and you think it's fair to charge $100 to write an article (and honestly...well written articles ARE that valuable), realize how much money you could be making by writing articles for your own use. Plus, you don't have the headache of dealing with clients.
This is the realization I had to come to in 2003. I was a copywriter for hire. I didn't charge top dollar (and a few copywriters complained to me about that)...but I wasn't at the bottom of the heap, as far as rates went. I thought if somebody would pay me $75 to optimize one website page for them...why was I wasting my time letting them earn the residual income from it? If someone would pay me $150 to write a short page of sales copy...just how much money were they earning from it to make it worth their while?
After thinking about that, I decided to quit taking clients and focus my efforts on using my own writing skills to earn me residual and passive income. Now, I make about 5 times much as I did back then and I work a lot less. Best of all, I have no clients do deal with. You see, when hire yourself out for pay...you have to keep working to earn that pay and it can be a real drain on your time and energy.
If you've been complaining about external changes affecting your business, really think about how you can change your own approach to make it work for you. Every business has to evolve to keep up with changing times. After all, McDonald's did once say they'd never offer a veggie burger.
About the Author
Alice Seba is a full-time online business owner that thrives on helping others say good-bye to their J-O-Bs forever. Sign up for her "Internet Marketing Prescriptions" to cure what ails your online business: http://www.AliceSeba.com
Wednesday, April 18, 2007
Payday Loans: A better solution for the average American worker.
With the New Year upon us and Christmas bills starting to pile up, countless Americans are wondering how they will pay the bills and cover the taxes due in April. Payday loans are one solution to individuals feeling the crunch of bills and taxes. A cash advance will enable you to pay those bills and take care of impending circumstances without over-extending your credit cards or racking up non-sufficient fund fees. This source of fast cash is used by many Americans to eliminate the long-term high cost of credit card interest rates while providing an instant cash solution for their pressing needs. Why would you consider a payday loan? That is the question many American workers ask when they are looking for a solution to their bills, and unfortunately, those working class individuals without pristine credit are shut out of traditional options like low interest rate credit cards and home equity lines. The payday cash loan has become a practical option for individuals experiencing a financial emergency. To meet the requirements for a payday loan, most cash advance services require you to meet a few qualifications. First, you need to be at least 18 years of age and a United States citizen. Second, you need to have a job or be able to show that you receive some kind of regular income, which brings in at least $1000 each month. Third, you must have a checking account (a few will qualify you with a savings account) to finalize the transaction. Some companies will include additional requirements, but these are the most common prerequisites to obtain a payday advance. If you meet these conditions, you generally have to fill out the company¡¯s online form to find out how much you will qualify to receive. They, like nearly all lending institutions, will gauge the amount you may borrow by the amount of your income, although, unlike most lending institutions, these companies are much more lenient in their lending practices. In general, the majority of the online payday advance companies do not disqualify you because of bad credit, bankruptcy history, or prior bad checks. There are no long lines and no long delays while the company reviews your application. In addition, this process takes place in the comfort of your own home or office, not the cold atmosphere of a bank. Most companies have a relatively simple and quick online form for you to fill out, and once your loan is approved and you speak with a representative, the company deposits cash directly into your bank account. Make sure you review the website completely, and read the details. Do you find the fees fair, and are the terms acceptable? In order to receive a cash advance, companies require you to have a bank account because when it is time to pay back the loan, the company will simply deduct the principle and fees from your account during your next pay period unless you ask for an extension. Now the fees seem extremely high for this service unless you do the math on how much it will cost you not to take the short-term loan. What did you pay for your last bounced check? Most banks charge between $25-$35, and often times merchants charge a matching fee. The expense of a payday loan does not sound nearly as bad once you consider the bank charges and credit reporting that takes place when you bounce a check. If your credit card company were going to charge you a $29 late fee and raise your interest rate, wouldn¡¯t you be better served to take an advance on your paycheck rather than take the long-term consequences of higher interest rates? Of course, there are payday loan companies that are out there to take advantage of unsuspecting consumers, and that is why you must do your homework and make sure the fees and terms are acceptable. Lately, many news articles have criticized the payday loan industry, yet these same reporters have not questioned the excessive fees and interest rates charged by traditional lending institutions. Obviously, it is in the best interest of banks and credit card companies if consumers continue to accept their Machiavellian policies (remember Machiavelli advocated deceit to gain and maintain power). Non-traditional lending companies challenge this totalitarian authority and give the working class another option besides paying outrageous credit card fees, bank fees, and unwarranted interest rates.
Danielle Peck is the partner and research specialist for www.skitastic.com, a website that provides information and resources on cash advance and payday loans. You can visit the website at: http://www.skitastic.com.
About the Author
Danielle Peck has a Degree in Sociology, and spends much of her time examining new phenomena in culture. Her main goals in this pursuit encompass both social and personal change while finding the link that makes us all human in the twenty-first century.
Danielle Peck is the partner and research specialist for www.skitastic.com, a website that provides information and resources on cash advance and payday loans. You can visit the website at: http://www.skitastic.com.
About the Author
Danielle Peck has a Degree in Sociology, and spends much of her time examining new phenomena in culture. Her main goals in this pursuit encompass both social and personal change while finding the link that makes us all human in the twenty-first century.
Legal Assistants And Paralegals - A Closer Look
One of the most important tasks legal assistants and paralegals perform is to assist lawyers as they prepare for corporate meetings, closings, trials and hearings. Although the lawyers take ownership for the legal work, they will often delegate many tasks to legal assistants and paralegals. As a result, they continue to take on a growing range of tasks inside the nation's legal offices and perform many of tasks traditional done by lawyers.
On the other hand, they are still strictly prohibited from performing any duty that is considered to be the "practice of law" - such as setting legal fees, giving legal advice, and presenting cases in court. Legal Assistants and paralegals also do much of leg work like verifying and looking into the facts of cases to ensure that all points are thoroughly covered. They also identify appropriate laws, judicial decisions, legal articles and other materials that are relevant to assigned cases.
After they analyze and organize the information, paralegals may prepare written reports that attorneys use in determining how cases should be handled. Should the decision be made to file a lawsuit, a paralegal may then be given the responsibility to help prepare the legal arguments, draft pleadings and motions to be filed with the court, obtain affidavits and assist the attorneys during trial. Paralegals also organize and track files of thee all important case documents and make them available and easily accessible to the attorneys.
In addition to preparatory work, legal assistants and paralegals also perform a number of other vital functions. For example, they help draft contracts, mortgages, separation agreements and instruments of trust. In addition, may assist in preparing tax returns or estate planning. Some may even be given the responsibility to coordinate the activities of other law office employees and maintain financial office records. Of course, additional tasks differ, depending on the employer.
Legal Assistants and paralegals are found in all types of organizations, but most are employed by law firms (about 70%), corporate legal departments and various government offices make up most of the remaining 30%. In these organizations, they can work in many different areas of the law, including litigation, personal injury, corporate law, criminal law, employee benefits, intellectual property, labor law, bankruptcy, immigration, family law, and real estate.
As the law has become more complex, legal assistants and paralegals have responded, like many professions, by becoming more specialized. And within specialties, functions are often broken down even further so that legal assistants and paralegals may deal with a specific area. For example, legal assistants and paralegals specializing in labor law may concentrate exclusively on employee benefits.
The duties of legal assistants and paralegals also differ widely with the type of organization in which they are employed. Those who work for corporations often assist attorneys with employee contracts, shareholder agreements, stock-option plans and employee benefit plans. They may also help prepare and file annual financial reports, maintain corporate minutes' record resolutions and prepare forms to secure loans for the corporation.
Legal Assistants and paralegals often monitor and review government regulations to ensure that the corporation is aware of any new requirements and to ensure they are operating within the law. In addition, an ever increasing number of experienced paralegals are taking on additional supervisory responsibilities like monitoring team projects and serving as a communications link between the team and the corporation.
The duties of legal assistants and paralegals, working in the public sector varies between agencies. However, as a general rule, they analyze legal material for internal use, maintain reference files, conduct research for attorneys and collect and analyze evidence for agency hearings. They may prepare informative or explanatory material on laws, agency regulations, and agency policy for general use by the agency and the public. Legal Assistants and paralegals employed in community legal-service projects help the poor, the aged and those in need of legal assistance by filing forms, conducting research, preparing documents and when authorized by law, representing clients at administrative hearings.
Legal Assistants and paralegals in small to medium-sized law firms usually perform a variety of duties that require a general knowledge of the law. For example, they may research judicial decisions on improper police arrests or help prepare a mortgage contract. On the other hand, those employed by larger law firms, government agencies or corporations are more likely to specialize in one aspect of the law.
Being computer literate has also become an essential skill of legal Assistants and paralegals. Using the internet to search legal literature and extracting vital information stored in computer databases and on CD-ROM is also an important skill set. In litigation involving many supporting documents, paralegals usually use computer databases to retrieve, organize and index various materials. Imaging software allows paralegals to scan documents directly into a database, while billing programs help them track hours billed to clients. Various software packages are also used to perform tax computations and explore different scenarios of various tax strategies for clients.
As you can see becoming a Legal Assistants and paralegals profession is an exciting and ever-demanding field that requires a wide range of skills and knowledge. If you're looking for a career, not just a job and you have the willingness to push yourself then this field is ripe for the picking.
This article may be reproduced only in its entirety.
About the Author
Kevin Erickson is an entrepreneur and writer. For other articles he's written visit: Legal Assistant | Travel Nursing | Medical Transcription
On the other hand, they are still strictly prohibited from performing any duty that is considered to be the "practice of law" - such as setting legal fees, giving legal advice, and presenting cases in court. Legal Assistants and paralegals also do much of leg work like verifying and looking into the facts of cases to ensure that all points are thoroughly covered. They also identify appropriate laws, judicial decisions, legal articles and other materials that are relevant to assigned cases.
After they analyze and organize the information, paralegals may prepare written reports that attorneys use in determining how cases should be handled. Should the decision be made to file a lawsuit, a paralegal may then be given the responsibility to help prepare the legal arguments, draft pleadings and motions to be filed with the court, obtain affidavits and assist the attorneys during trial. Paralegals also organize and track files of thee all important case documents and make them available and easily accessible to the attorneys.
In addition to preparatory work, legal assistants and paralegals also perform a number of other vital functions. For example, they help draft contracts, mortgages, separation agreements and instruments of trust. In addition, may assist in preparing tax returns or estate planning. Some may even be given the responsibility to coordinate the activities of other law office employees and maintain financial office records. Of course, additional tasks differ, depending on the employer.
Legal Assistants and paralegals are found in all types of organizations, but most are employed by law firms (about 70%), corporate legal departments and various government offices make up most of the remaining 30%. In these organizations, they can work in many different areas of the law, including litigation, personal injury, corporate law, criminal law, employee benefits, intellectual property, labor law, bankruptcy, immigration, family law, and real estate.
As the law has become more complex, legal assistants and paralegals have responded, like many professions, by becoming more specialized. And within specialties, functions are often broken down even further so that legal assistants and paralegals may deal with a specific area. For example, legal assistants and paralegals specializing in labor law may concentrate exclusively on employee benefits.
The duties of legal assistants and paralegals also differ widely with the type of organization in which they are employed. Those who work for corporations often assist attorneys with employee contracts, shareholder agreements, stock-option plans and employee benefit plans. They may also help prepare and file annual financial reports, maintain corporate minutes' record resolutions and prepare forms to secure loans for the corporation.
Legal Assistants and paralegals often monitor and review government regulations to ensure that the corporation is aware of any new requirements and to ensure they are operating within the law. In addition, an ever increasing number of experienced paralegals are taking on additional supervisory responsibilities like monitoring team projects and serving as a communications link between the team and the corporation.
The duties of legal assistants and paralegals, working in the public sector varies between agencies. However, as a general rule, they analyze legal material for internal use, maintain reference files, conduct research for attorneys and collect and analyze evidence for agency hearings. They may prepare informative or explanatory material on laws, agency regulations, and agency policy for general use by the agency and the public. Legal Assistants and paralegals employed in community legal-service projects help the poor, the aged and those in need of legal assistance by filing forms, conducting research, preparing documents and when authorized by law, representing clients at administrative hearings.
Legal Assistants and paralegals in small to medium-sized law firms usually perform a variety of duties that require a general knowledge of the law. For example, they may research judicial decisions on improper police arrests or help prepare a mortgage contract. On the other hand, those employed by larger law firms, government agencies or corporations are more likely to specialize in one aspect of the law.
Being computer literate has also become an essential skill of legal Assistants and paralegals. Using the internet to search legal literature and extracting vital information stored in computer databases and on CD-ROM is also an important skill set. In litigation involving many supporting documents, paralegals usually use computer databases to retrieve, organize and index various materials. Imaging software allows paralegals to scan documents directly into a database, while billing programs help them track hours billed to clients. Various software packages are also used to perform tax computations and explore different scenarios of various tax strategies for clients.
As you can see becoming a Legal Assistants and paralegals profession is an exciting and ever-demanding field that requires a wide range of skills and knowledge. If you're looking for a career, not just a job and you have the willingness to push yourself then this field is ripe for the picking.
This article may be reproduced only in its entirety.
About the Author
Kevin Erickson is an entrepreneur and writer. For other articles he's written visit: Legal Assistant | Travel Nursing | Medical Transcription
Yessir! Maybe Planning IS Important.
Copyright 2005 Donovan Baldwin
So the story goes:
A guy decided he would commit an armed robbery.
This gentleman couldn't just stick up a liquor store or knock over a bank. Nosiree Bob! He walked past a parked police car out on the sidewalk, and into a gun shop. Standing at the counter were a couple of cops. There were a couple of customers in the store. All four (or more) of them were armed, as was the clerk behind the counter.
As the Darwin Awards, found at http://www.darwinawards.com/ , might put it, he involuntarily cleansed the gene pool.
Can you imagine going on a driving trip to some place you've never been and not getting a map, at least. You would think someone was daft if they went about it that way. You wouldn't be suprised to see them set off from Oklahoma, going to Oregon and driving East!
Well, how much better off is the person who signs up for a franchise, home business opportunity, network marketing or internet business without doing their homework?
For starters, many people do not realize that a network marketing business, for example, is exactly what the word says. It's a business. Owning a business means taking responsibility. As I used to tell some of my students back when I gave classes to people who had always held jobs, but were about to embark on their own business, "You are about to find out not only how good a manager you are, but you are going to find out how good an employee you are."
Someone who starts their own business, expecting IT to somehow magically produce income is living in a fool's paradise. To tell the truth, almost anyone starting their own business will possibly have to work more hours than the average employee.
In the case of a brick-and-mortar business, the individual often has to leave the safety net of a "job" to get their business off the ground. Part of the planning process will be to have some knowledge of what cash reserves will be needed during the start-up period, and to assure that those funds are on hand.
It will be necessary for the new business owner to become aware of many of the challenges of managing any business, and managing THEIR BUSINESS in particular. The need for at least this small amount of knowledge would seem to be self-evident to most of us. However:
"Businesses with fewer than 20 employees have only a 37% chance of surviving four years (of business) and only a 9% chance of surviving 10 years." Restaurants only have a 20% chance of surviving 2 years. Of these failed business, only 10% of them close involuntarily due to bankruptcy and the remaining 90% close because the business was not successful, did not provide the level of income desired or was too much work for their efforts." - Dun & Bradstreet
Wow, did you catch that? Let's replay the meat, "...and the remaining 90% close because the business was not successful, did not provide the level of income desired or was too much work for their efforts."
Now, wouldn't a little up front planning have saved some of those? In fact, it sounds to me like some of these people started their businesses in expectation, if not hope, of not having to work as hard as at their JOBS. It also appears that these people overestimated the income their new businesses could, would, or should provide. This could be a combination of ignorance (education about a coming major decision could be defined as planning, I suppose), and in many instances probably combines with not wanting to work as hard as in previous incarnations to create a double whammy of disappointment.
Okay, so your network marketing recruiter told you about the "30 Second Commute", and "Put Your Business On Autopilot", and the ever popular, "Make Money While You Sleep!" Was your recruiter lying? Not necessarily. I get up every morning, walk across the hall, pull up a browser, and check to see how much I made during the night. Sometimes it's a hundred dollars or less, sometimes it's several hundred, but I DID sleep while orders were placed at various websites I own or use, and yes, I DO make a six-figure income on the internet. However, it took me hours at the computer to get all those web sites up and to interlink all the sites and to write the articles, place the ads. I also spent thousands of dollars for things that didn't work at all, didn't work as advertised, or I simply couldn't figure out how to make work. I call this accidental tuition.
I did, however, learn from my mistakes, and I was able to build my internet business up to the point where it does earn me the six-figure income I mentioned...
Oh yes! I don't get to keep ALL of that six-figure income either. Some goes to taxes, some goes to advertising (I pay one place alone $1300 a month for advertising), I bought a new computer last year...etc. But! I WAS able to go to Florida and to Mississippi (before the hurricanes) on two separate week long vacations, and I didn't have to ask anyone's permission, I didn't have to borrow any money as I already had it, and I continued to make the same level of income while on vacation as I made while at home.
I WAS able to start my internet business and work it part time while I still held a full-time job. Now I work my internet business part time AND my job part time. In another year or two, I will be able to retire completely from any real job and simply work my internet business part time (which is fun, by the way).
I would recommend starting an internet business to anyone, but I would also recommend doing your homework first. It took me four years and a few thousand dollars to learn what I know now. One of the things I know is that there are some excellent courses and books that teach what to expect in internet or network marketing and how to do it successfully. All of these recommend studying and planning, none even hint that you will get rich quick, much less without some actual work.
Once you get that business up and running, and you have everything in place, you can "put your buiness on autopilot", "make money while you sleep", and join the "30 second commute".
About the Author
So the story goes:
A guy decided he would commit an armed robbery.
This gentleman couldn't just stick up a liquor store or knock over a bank. Nosiree Bob! He walked past a parked police car out on the sidewalk, and into a gun shop. Standing at the counter were a couple of cops. There were a couple of customers in the store. All four (or more) of them were armed, as was the clerk behind the counter.
As the Darwin Awards, found at http://www.darwinawards.com/ , might put it, he involuntarily cleansed the gene pool.
Can you imagine going on a driving trip to some place you've never been and not getting a map, at least. You would think someone was daft if they went about it that way. You wouldn't be suprised to see them set off from Oklahoma, going to Oregon and driving East!
Well, how much better off is the person who signs up for a franchise, home business opportunity, network marketing or internet business without doing their homework?
For starters, many people do not realize that a network marketing business, for example, is exactly what the word says. It's a business. Owning a business means taking responsibility. As I used to tell some of my students back when I gave classes to people who had always held jobs, but were about to embark on their own business, "You are about to find out not only how good a manager you are, but you are going to find out how good an employee you are."
Someone who starts their own business, expecting IT to somehow magically produce income is living in a fool's paradise. To tell the truth, almost anyone starting their own business will possibly have to work more hours than the average employee.
In the case of a brick-and-mortar business, the individual often has to leave the safety net of a "job" to get their business off the ground. Part of the planning process will be to have some knowledge of what cash reserves will be needed during the start-up period, and to assure that those funds are on hand.
It will be necessary for the new business owner to become aware of many of the challenges of managing any business, and managing THEIR BUSINESS in particular. The need for at least this small amount of knowledge would seem to be self-evident to most of us. However:
"Businesses with fewer than 20 employees have only a 37% chance of surviving four years (of business) and only a 9% chance of surviving 10 years." Restaurants only have a 20% chance of surviving 2 years. Of these failed business, only 10% of them close involuntarily due to bankruptcy and the remaining 90% close because the business was not successful, did not provide the level of income desired or was too much work for their efforts." - Dun & Bradstreet
Wow, did you catch that? Let's replay the meat, "...and the remaining 90% close because the business was not successful, did not provide the level of income desired or was too much work for their efforts."
Now, wouldn't a little up front planning have saved some of those? In fact, it sounds to me like some of these people started their businesses in expectation, if not hope, of not having to work as hard as at their JOBS. It also appears that these people overestimated the income their new businesses could, would, or should provide. This could be a combination of ignorance (education about a coming major decision could be defined as planning, I suppose), and in many instances probably combines with not wanting to work as hard as in previous incarnations to create a double whammy of disappointment.
Okay, so your network marketing recruiter told you about the "30 Second Commute", and "Put Your Business On Autopilot", and the ever popular, "Make Money While You Sleep!" Was your recruiter lying? Not necessarily. I get up every morning, walk across the hall, pull up a browser, and check to see how much I made during the night. Sometimes it's a hundred dollars or less, sometimes it's several hundred, but I DID sleep while orders were placed at various websites I own or use, and yes, I DO make a six-figure income on the internet. However, it took me hours at the computer to get all those web sites up and to interlink all the sites and to write the articles, place the ads. I also spent thousands of dollars for things that didn't work at all, didn't work as advertised, or I simply couldn't figure out how to make work. I call this accidental tuition.
I did, however, learn from my mistakes, and I was able to build my internet business up to the point where it does earn me the six-figure income I mentioned...
Oh yes! I don't get to keep ALL of that six-figure income either. Some goes to taxes, some goes to advertising (I pay one place alone $1300 a month for advertising), I bought a new computer last year...etc. But! I WAS able to go to Florida and to Mississippi (before the hurricanes) on two separate week long vacations, and I didn't have to ask anyone's permission, I didn't have to borrow any money as I already had it, and I continued to make the same level of income while on vacation as I made while at home.
I WAS able to start my internet business and work it part time while I still held a full-time job. Now I work my internet business part time AND my job part time. In another year or two, I will be able to retire completely from any real job and simply work my internet business part time (which is fun, by the way).
I would recommend starting an internet business to anyone, but I would also recommend doing your homework first. It took me four years and a few thousand dollars to learn what I know now. One of the things I know is that there are some excellent courses and books that teach what to expect in internet or network marketing and how to do it successfully. All of these recommend studying and planning, none even hint that you will get rich quick, much less without some actual work.
Once you get that business up and running, and you have everything in place, you can "put your buiness on autopilot", "make money while you sleep", and join the "30 second commute".
About the Author
Retired from the Army, the author has worked as an accountant, purchasing agent, optical lab manager, restaurant manager, instructor and long-haul truck driver. An active internet marketer since 2000, he now makes his living online. Find more of his articles at http://donovanbaldwin.blogspot.com
Children and the Entertainment Industry
In today's society we know that the moral fiber of our communities is in peril. Why then, do we not protect our children? We have a responsibility to safeguard our most vulnerable; instead, we prematurely catapult them into a world they are not mature enough to handle and destroy their innocence.
Frequently, I am asked by parents and friends of aspiring "stars" to offer my opinion about getting their child into show business. Recently my publicist, Marsha Friedman, President of Event Management sent me the following question:
"...After the performance I spoke with her mom (who was in tears the whole time) about their incredible daughter and her future. Their daughter's dream is to be on stage singing professionally...I said I would forward some information to you - to get your thoughts."
After much contemplation, I wrote to the parents (excerpt):
"No matter how strong your daughter or your dream is, wait until she is 18 to try for stardom. She is already doing what she most wants, and that is to be on stage. Once she is 18 and you are ready for her to sell sex to other teenagers and older men in their 20's - 60's, she will be better equipped to handle the response, as you will be also..."
These words may strike you as unnecessarily candid, and perhaps a touch vulgar, but the reality is that most parents and children do NOT dream of just "being on stage." If that was the sole requirement for their happiness, then local stage performances (a much safer avenue) would satisfy their dream. Since the child may already be doing that, there would be no more questions as the goal would have been achieved. Sadly, the aim as stated is wrong. What the parents and child really want is stardom, without knowing the cost.
They focus on the Hollywood dream and convince themselves that the path to stardom will be a romantic ride. The fantasy is filled with adoring fans, endless wealth, eternal fame and glamorous travel. This illusion inevitably fades, and what remains is disappointment, heartache, bills and endless travel (in less than desirable circumstances). More ominously, some of the "adoring fans" may actually be obsessed with the child, to the point of danger. This should not be entirely surprising as the child is being sold to look like the American male fantasy of an adult woman.
Many people reading this article will be convinced that I am wrong, or at least exaggerating. I ask you to consider the last time you saw a child "star" who looked like a child in their videos? The typical images are a 15 year old Britney Spears, a 14 year old JoJo, or a 13 year old Leanne Rimes
When Spears came into the public eye, she was dressed like a Catholic school girl, seducing the audience with, "Ooh, baby baby." Leanne Rimes was dressed in a black satin outfit singing, "How Do I Live Without You." (It should be noted that her 'look' would be considered tame by today's standards.) Why are they dressed this way? Frankly, the music industry sells sex, sex sells.
These girls (although Leanne and Britney are now adults) are talented and beautiful, yet they are strategically packaged to entice older men. The fans who are young teenage girls don't care whether the artists are sexy when they purchase music. However, continually seeing their idols dressed seductively has made them aware of sexuality and they want to dress the same way. This contributes to the cheapening of children's values and image, and the cycle continues.
Recently, I was running on the treadmill at the gym when I was stunned by what I saw on one of the news channels. It was a feature about a modeling contest for children limited to those twelve and under. The winner would receive a one million dollar modeling contract, which of course sounds amazing! However, as the clip continued, mouths dropped throughout the gym. Three girls (under 12 - contest requirements) dressed in skimpy bikinis were being drenched with water and gazing at the camera like they wanted to seduce each man watching. If the girls were twenty five, aware of what they were doing and, as adults, making their own decisions, I wouldn't think much about it. However, the participation of twelve year olds is horrifying. Child pornography is universally condemned and pedophiles treated with not only revulsion, but the full force of the law. Doesn't this fall under the same category, just corporately condoned?
In my opinion, prostituting children in this manner is perpetuating child pornography in a purportedly "legal" manner. This practice needs to be stopped. While the music industry to date, has not participated in such an extreme level of exploitation of children, I still believe that children should be kept out of the music industry on a professional level until they are at least 18. Even with the strongest family support possible, they are not emotionally equipped to handle the issues that will inevitably emerge. Realistically, however, I know that children will continue to be signed and sold long before their eighteenth birthdays, let me offer some practical advice.
1. From a financial perspective, learn the business inside and out. You MUST know: Who gets what, and why? How much was made, or lost? What is the bottom line? If you don't make this a priority, you will join the host of famous artists who have been forced to claim bankruptcy.
2. Put together a dazzling press kit. People receiving the kit must be enticed into opening the package, so you will have to present your child in their best light. The demo must be well produced and include four of your child's best numbers. Keep in mind that each song will be listened to for about thirty seconds before moving on to the next piece. It's possible to make a pretty impressive demo on your own for about two thousand dollars, including pressing. Don't fall victim to the scam of someone guaranteeing stardom for your child with a professionally cut demo if you simply write a ten thousand dollar check.
3. If possible, establish a track record of sales BEFORE any contact with recording labels. (Get your CD listed on Soundscan.) You'll have greater bargaining power if you know your product value prior to negotiating.
4. If a label finances the recording of a CD, it is a loan, NOT a gift, and must be paid back. The recording industry is a business, not a charity. Beware of becoming competitors insurance. If you fall into that trap, you may lose everything. (I detail all of this in my book, The Indie Guide To Music, Marketing and Money.)
5. The phrase is, accurately, "Show Business," and your child must be prepared to put on a "show," just as you and they need to learn the "business." Britney Spears, Christina Aguilera, Madonna and Justin Timberlake are great examples of how this is done and the work involved to sustain sell-out crowds.
6. Provide acting, vocal and dance lessons for your child, and register them for writing classes. Writers currently receive 8.5 cents per song on a CD, while the artist generally receives one point per album. Writers make the most money, with little or no initial investment. Make sure you understand how to legitimately copyright music. The aptly named 'poor man's copyright' won't hold up in court.
7. Avoid anyone stating that for an upfront fee, they can make your child a star. Managers and agents get paid a percentage in the range of 10-20%. Managers usually receive 10-15%, while agents receive 15-20%. You also need to know and understand the difference between managers and agents. Similarly, lawyers shopping a deal for your child on his/her own volition will take a percentage of the contract. (Lawyers that you hire on your own request, must be paid up front.)
8. Marketing and promotion are imperative and can be very expensive. Labels have access to promotion capabilities that most individuals cannot afford. However, there is no limit or cost to imagination, so be creative! Affordable promotion can be attainable.
9. Develop personal relationships with contacts at the labels. Once you get to know people, they may offer you a special code to put on the outside of your package which signals to the front desk that your package is requested. (simply writing "material requested" on the outside of the package will not work) DON'T submit anything without permission; most throw unsolicited press kits in the garbage and a few return them unopened. Warner Brothers sends a nice note referencing legal concerns, while Disney sends a nicer more detailed note explaining their policy around copyright laws. Don't waste valuable product and time.
Currently, many people are considering the 'American Idol' route, while forgetting that only one person in the 22 million that showed up for auditions last year actually made it.
One last note: Label representation can be an awesome thing, but you must know the business first! There is much more detailed and valuable information in my book, "The Indie Guide To Music, Marketing and Money" ISBN 978-0-9746229-4-1 ISBN 978-0-9746229-4-1. Additionally, my website contains a number of applicable articles on the music industry which can be accessed free of charge. I wish you the best of luck in your endeavors.
Copyright 2005 Jaci Rae
About the Author
Jaci Rae is a #1 Best Selling author. Shop for a Day With Jaci Rae - How to Get Almost Anything for Free, The Indie Guide to Music, Marketing and Money and Winning Points with the Woman in Your Life One Touchdown at a Time. http://www.jacirae.com/
Frequently, I am asked by parents and friends of aspiring "stars" to offer my opinion about getting their child into show business. Recently my publicist, Marsha Friedman, President of Event Management sent me the following question:
"...After the performance I spoke with her mom (who was in tears the whole time) about their incredible daughter and her future. Their daughter's dream is to be on stage singing professionally...I said I would forward some information to you - to get your thoughts."
After much contemplation, I wrote to the parents (excerpt):
"No matter how strong your daughter or your dream is, wait until she is 18 to try for stardom. She is already doing what she most wants, and that is to be on stage. Once she is 18 and you are ready for her to sell sex to other teenagers and older men in their 20's - 60's, she will be better equipped to handle the response, as you will be also..."
These words may strike you as unnecessarily candid, and perhaps a touch vulgar, but the reality is that most parents and children do NOT dream of just "being on stage." If that was the sole requirement for their happiness, then local stage performances (a much safer avenue) would satisfy their dream. Since the child may already be doing that, there would be no more questions as the goal would have been achieved. Sadly, the aim as stated is wrong. What the parents and child really want is stardom, without knowing the cost.
They focus on the Hollywood dream and convince themselves that the path to stardom will be a romantic ride. The fantasy is filled with adoring fans, endless wealth, eternal fame and glamorous travel. This illusion inevitably fades, and what remains is disappointment, heartache, bills and endless travel (in less than desirable circumstances). More ominously, some of the "adoring fans" may actually be obsessed with the child, to the point of danger. This should not be entirely surprising as the child is being sold to look like the American male fantasy of an adult woman.
Many people reading this article will be convinced that I am wrong, or at least exaggerating. I ask you to consider the last time you saw a child "star" who looked like a child in their videos? The typical images are a 15 year old Britney Spears, a 14 year old JoJo, or a 13 year old Leanne Rimes
When Spears came into the public eye, she was dressed like a Catholic school girl, seducing the audience with, "Ooh, baby baby." Leanne Rimes was dressed in a black satin outfit singing, "How Do I Live Without You." (It should be noted that her 'look' would be considered tame by today's standards.) Why are they dressed this way? Frankly, the music industry sells sex, sex sells.
These girls (although Leanne and Britney are now adults) are talented and beautiful, yet they are strategically packaged to entice older men. The fans who are young teenage girls don't care whether the artists are sexy when they purchase music. However, continually seeing their idols dressed seductively has made them aware of sexuality and they want to dress the same way. This contributes to the cheapening of children's values and image, and the cycle continues.
Recently, I was running on the treadmill at the gym when I was stunned by what I saw on one of the news channels. It was a feature about a modeling contest for children limited to those twelve and under. The winner would receive a one million dollar modeling contract, which of course sounds amazing! However, as the clip continued, mouths dropped throughout the gym. Three girls (under 12 - contest requirements) dressed in skimpy bikinis were being drenched with water and gazing at the camera like they wanted to seduce each man watching. If the girls were twenty five, aware of what they were doing and, as adults, making their own decisions, I wouldn't think much about it. However, the participation of twelve year olds is horrifying. Child pornography is universally condemned and pedophiles treated with not only revulsion, but the full force of the law. Doesn't this fall under the same category, just corporately condoned?
In my opinion, prostituting children in this manner is perpetuating child pornography in a purportedly "legal" manner. This practice needs to be stopped. While the music industry to date, has not participated in such an extreme level of exploitation of children, I still believe that children should be kept out of the music industry on a professional level until they are at least 18. Even with the strongest family support possible, they are not emotionally equipped to handle the issues that will inevitably emerge. Realistically, however, I know that children will continue to be signed and sold long before their eighteenth birthdays, let me offer some practical advice.
1. From a financial perspective, learn the business inside and out. You MUST know: Who gets what, and why? How much was made, or lost? What is the bottom line? If you don't make this a priority, you will join the host of famous artists who have been forced to claim bankruptcy.
2. Put together a dazzling press kit. People receiving the kit must be enticed into opening the package, so you will have to present your child in their best light. The demo must be well produced and include four of your child's best numbers. Keep in mind that each song will be listened to for about thirty seconds before moving on to the next piece. It's possible to make a pretty impressive demo on your own for about two thousand dollars, including pressing. Don't fall victim to the scam of someone guaranteeing stardom for your child with a professionally cut demo if you simply write a ten thousand dollar check.
3. If possible, establish a track record of sales BEFORE any contact with recording labels. (Get your CD listed on Soundscan.) You'll have greater bargaining power if you know your product value prior to negotiating.
4. If a label finances the recording of a CD, it is a loan, NOT a gift, and must be paid back. The recording industry is a business, not a charity. Beware of becoming competitors insurance. If you fall into that trap, you may lose everything. (I detail all of this in my book, The Indie Guide To Music, Marketing and Money.)
5. The phrase is, accurately, "Show Business," and your child must be prepared to put on a "show," just as you and they need to learn the "business." Britney Spears, Christina Aguilera, Madonna and Justin Timberlake are great examples of how this is done and the work involved to sustain sell-out crowds.
6. Provide acting, vocal and dance lessons for your child, and register them for writing classes. Writers currently receive 8.5 cents per song on a CD, while the artist generally receives one point per album. Writers make the most money, with little or no initial investment. Make sure you understand how to legitimately copyright music. The aptly named 'poor man's copyright' won't hold up in court.
7. Avoid anyone stating that for an upfront fee, they can make your child a star. Managers and agents get paid a percentage in the range of 10-20%. Managers usually receive 10-15%, while agents receive 15-20%. You also need to know and understand the difference between managers and agents. Similarly, lawyers shopping a deal for your child on his/her own volition will take a percentage of the contract. (Lawyers that you hire on your own request, must be paid up front.)
8. Marketing and promotion are imperative and can be very expensive. Labels have access to promotion capabilities that most individuals cannot afford. However, there is no limit or cost to imagination, so be creative! Affordable promotion can be attainable.
9. Develop personal relationships with contacts at the labels. Once you get to know people, they may offer you a special code to put on the outside of your package which signals to the front desk that your package is requested. (simply writing "material requested" on the outside of the package will not work) DON'T submit anything without permission; most throw unsolicited press kits in the garbage and a few return them unopened. Warner Brothers sends a nice note referencing legal concerns, while Disney sends a nicer more detailed note explaining their policy around copyright laws. Don't waste valuable product and time.
Currently, many people are considering the 'American Idol' route, while forgetting that only one person in the 22 million that showed up for auditions last year actually made it.
One last note: Label representation can be an awesome thing, but you must know the business first! There is much more detailed and valuable information in my book, "The Indie Guide To Music, Marketing and Money" ISBN 978-0-9746229-4-1 ISBN 978-0-9746229-4-1. Additionally, my website contains a number of applicable articles on the music industry which can be accessed free of charge. I wish you the best of luck in your endeavors.
Copyright 2005 Jaci Rae
About the Author
Jaci Rae is a #1 Best Selling author. Shop for a Day With Jaci Rae - How to Get Almost Anything for Free, The Indie Guide to Music, Marketing and Money and Winning Points with the Woman in Your Life One Touchdown at a Time. http://www.jacirae.com/
Business Debt Consolidation: Saving Your Business
Business debt consolidation is a solution that aims for the solution of your business debts. Debt is a financial hazard. It occurs when you borrow money for some business expenses, and the business itself is unable to generate the profits to pay creditors back on time. With this overpowering impact of consumer goods, companies nowadays are deep in debts or prone to it.
Even though business debt consolidation can save your company's financial status as well as your business relationships, you still need to be aware of the growing trend to a consolidate debt. Financial planning is always key in any healthy bank account, but beware of what some of these firms offer. Many have ads all over the Internet and TV, but some of these are now being sued by different attorney generals, the IRS, and even the FTC. The reason for these law suits is the fact that they do not accomplish everything they promised.
- Business debt consolidation considers bankruptcy a last resort mechanism -
One of the oldest schemes in debt solutions is Chapter 7 and Chapter 13 bankruptcy. The bankruptcy process comes in your rescue but with a lot of clauses. With a legal separation from the bondage of your partial debts, bankruptcy is both flexible and rigid. In this process you have to follow a restructured payment plan as per instructions from your creditors where the tax payment continues for a term of 2 to 6 years. Business debt consolidation defines bankruptcy as a last resort mechanism and should only be used after trying various solutions and not gotten the wanted results.
- What business debt consolidation includes -
Business debt consolidation is one of the most acclaimed debt relief mechanisms and sought after debt free solutions today. We consolidate your debts, negotiate with the creditors, reduce your debts to a substantial 50 to 60 percent and restructure your payments in easy monthly installments. We also see that all your late fees and taxes are eliminated.
Personal savings is also suggested by the business debt consolidation program. Once your debt problems are under control, you have to be very careful about your personal savings. We offer you free financial counseling provided by our experts who help you restore and start building up your poor accounts.
- Business debt consolidation also has its cons -
Like any other service, business debt consolidation has had its downs, but it is not the service itself, but the people providing said service who sometimes make mistakes. In some extreme cases, there are companies that are not the real thing and use online advertisement in order to attract clients to then steal from them; making it nearly impossible for the client to receive any business debt consolidation service at all. Make sure you go to your local Better Business Bureau before you begin working with a business debt consolidation company. You want to find out about its reputation in your area. If a complaint is logged against a company and then resolved, there is a good chance that it will not be recorded in their permanent record. The Better Business Bureau has no legal authority to act against these companies or help you if you get in a bind.
After deciding to solve all of your company's debts, it is important that you check out several business debt consolidation companies. Not just the most advertised one because that does not necessarily mean the best. Ask for testimonials because you can get some idea as to the success of that firm. Take your time in choosing right and also ask for professional counseling. The business debt consolidation company should have professionals who can give some advice regarding your current situation, and once you make your decision you will feel certain you did it using the right tools
We have different articles on interesting topics and experiences from current and former clients with our programs. Take a look at related topics of different situations on the Business Debt Consolidation that people can fall into and how to keep yourself a debt free person.
Check these links to learn more:
http://www.curadebt.com/about.asp
http://www.curadebt.com/settlement/business-debt-negotiation/business-debt-settlement-negotiation.asp
About the Author
Debbie White is a contributing writer to http://www.curadebt.com and is currently writing some special articles to guide business on how to manage debt and avoid bankruptcy. For Free Information on Business Debt Consolidation and Debt Help Consultation, call toll-free 1-877-850-3328
Even though business debt consolidation can save your company's financial status as well as your business relationships, you still need to be aware of the growing trend to a consolidate debt. Financial planning is always key in any healthy bank account, but beware of what some of these firms offer. Many have ads all over the Internet and TV, but some of these are now being sued by different attorney generals, the IRS, and even the FTC. The reason for these law suits is the fact that they do not accomplish everything they promised.
- Business debt consolidation considers bankruptcy a last resort mechanism -
One of the oldest schemes in debt solutions is Chapter 7 and Chapter 13 bankruptcy. The bankruptcy process comes in your rescue but with a lot of clauses. With a legal separation from the bondage of your partial debts, bankruptcy is both flexible and rigid. In this process you have to follow a restructured payment plan as per instructions from your creditors where the tax payment continues for a term of 2 to 6 years. Business debt consolidation defines bankruptcy as a last resort mechanism and should only be used after trying various solutions and not gotten the wanted results.
- What business debt consolidation includes -
Business debt consolidation is one of the most acclaimed debt relief mechanisms and sought after debt free solutions today. We consolidate your debts, negotiate with the creditors, reduce your debts to a substantial 50 to 60 percent and restructure your payments in easy monthly installments. We also see that all your late fees and taxes are eliminated.
Personal savings is also suggested by the business debt consolidation program. Once your debt problems are under control, you have to be very careful about your personal savings. We offer you free financial counseling provided by our experts who help you restore and start building up your poor accounts.
- Business debt consolidation also has its cons -
Like any other service, business debt consolidation has had its downs, but it is not the service itself, but the people providing said service who sometimes make mistakes. In some extreme cases, there are companies that are not the real thing and use online advertisement in order to attract clients to then steal from them; making it nearly impossible for the client to receive any business debt consolidation service at all. Make sure you go to your local Better Business Bureau before you begin working with a business debt consolidation company. You want to find out about its reputation in your area. If a complaint is logged against a company and then resolved, there is a good chance that it will not be recorded in their permanent record. The Better Business Bureau has no legal authority to act against these companies or help you if you get in a bind.
After deciding to solve all of your company's debts, it is important that you check out several business debt consolidation companies. Not just the most advertised one because that does not necessarily mean the best. Ask for testimonials because you can get some idea as to the success of that firm. Take your time in choosing right and also ask for professional counseling. The business debt consolidation company should have professionals who can give some advice regarding your current situation, and once you make your decision you will feel certain you did it using the right tools
We have different articles on interesting topics and experiences from current and former clients with our programs. Take a look at related topics of different situations on the Business Debt Consolidation that people can fall into and how to keep yourself a debt free person.
Check these links to learn more:
http://www.curadebt.com/about.asp
http://www.curadebt.com/settlement/business-debt-negotiation/business-debt-settlement-negotiation.asp
About the Author
Debbie White is a contributing writer to http://www.curadebt.com and is currently writing some special articles to guide business on how to manage debt and avoid bankruptcy. For Free Information on Business Debt Consolidation and Debt Help Consultation, call toll-free 1-877-850-3328
Blue Chips Hurt by Fund Flows and Speculation
Blue Chip companies. They are the financially strong companies the world does business with everyday. In several of our articles in the past year we have discussed the possible reasons why the investment performance of Blue Chip companies has lagged some other stock types when their underlying fundamentals -namely earnings--have done so well. Recognizing this in 2006, BusinessWeek carried a cover story about the huge divergence between the strong earnings growth of Blue Chips versus their meager stock price performance. Most likely, a large part of the explanation comes down to the most basic economic principle of supply and demand. While the supply of Blue Chips stocks has actually fallen due to corporate buybacks (discussed below) demand has fallen even more as investors have funneled capital into other less traditional, and often more speculative market areas (see chart). As we write this article, events taking place in the global markets suggest that changes may be in the works.
Institutional investors have been pouring record amounts of money into hedge funds and private equity styles that embrace small- and mid-cap securities. We're talking large sums of money: just last year private equity raised a record $404 billion, according to Private Equity Intelligence. At the same time, retail investors have gone wild for international stocks. The Investment Company Institute reports a remarkable 92% of all US equity fund inflows ($149 billion) went into international equities in 2006! The message is clear: demand for Blue Chip stocks is down, while demand for other asset classes is up, creating an opportunity for long-term investors. (Remember: buy low and sell high?).
Because of institutional and retail neglect, Blue Chip companies are experiencing a phenomenon that we have not seen in a long time: the combination of strong profits, record amounts of cash, and low valuations. Fortunately most of financially strong Blue Chip companies are taking advantage of this situation and buying back tons of stock which is building tremendous shareholder value.
Exxon Mobil saw earnings decrease by 5% in the fourth quarter but because of massive buy-backs earnings per share actual increased by 2%. BHP Billiton just announced a $10 billion buy-back which is equivalent to 9% of its market capitalization. Exxon trades for just 12x earnings while BHP is valued at a mere 10x earnings. Many other Blue Chip companies have reduced shares outstanding between 4%-9% since the bull market started, including Emerson, Aflac, Coca-Cola, Citigroup, ADP, Wal-Mart, Pepsi, American Express, and Colgate-Palmolive. Best of all, these companies are trading at their lowest earnings multiple in a decade. As an example, Pepsi's P/E valuation has fallen from 37 times to less than 20 times expected 2007 earnings while its shares outstanding has fallen from 1.7 Billion to 1.6 Billion shares since 2002. Clearly, Blue Chips offer a great value in today's market.
To this point asset flows have favored small-, mid-cap, and international stocks as we discussed above, but there are signs a transition may be afoot. Actions in the markets in the past week exhibit the high volatility that is present in speculative assets. For example, recently popular emerging market investments swooned on February 27th and again on March 1st. An actively traded emerging market ETF (exchange traded fund) that invests in emerging markets fell over 8% on the 27th.
The move to Blue Chips will likely occur when risk premiums in the market are on the rise. Risk in our economy is linked to and dependent on actions in the housing and finance sectors. We have written extensively about the dangers in the sub-prime mortgage market. This business has been melting down: several firms have recently filed for bankruptcy protection, the stocks of several large sub-prime mortgage companies have fallen more than 40%, and the sub-prime divisions of large integrated banks are in disarray. If the damage from the sub-prime mortgage business spreads into other areas of our economy, risk premiums will likely rise across all asset classes and investors may seek shelter in neglected Blue Chip stocks.
Bottom Line: Conservative investors have traditionally taken comfort in the consistent growth of Blue Chip stocks but today get the added benefit of low valuation.
James G. Tillar, CFA
To read more visit Tillar-Wenstrup Advisors on the web: www.twadvisors.com or send them an email at: info@twadvisors.com
Tillar-Wenstrup Advisors, LLC, may have ownership in stocks mentioned in the article above. There can be no guarantee of investment success made by Tillar-Wenstrup Advisors, LLC relative to these selections.
About the Author
James Tillar is a Principal with Tillar-Wenstrup Advisors, LLC, a registered investment advisor located in Dayton, Ohio.
Institutional investors have been pouring record amounts of money into hedge funds and private equity styles that embrace small- and mid-cap securities. We're talking large sums of money: just last year private equity raised a record $404 billion, according to Private Equity Intelligence. At the same time, retail investors have gone wild for international stocks. The Investment Company Institute reports a remarkable 92% of all US equity fund inflows ($149 billion) went into international equities in 2006! The message is clear: demand for Blue Chip stocks is down, while demand for other asset classes is up, creating an opportunity for long-term investors. (Remember: buy low and sell high?).
Because of institutional and retail neglect, Blue Chip companies are experiencing a phenomenon that we have not seen in a long time: the combination of strong profits, record amounts of cash, and low valuations. Fortunately most of financially strong Blue Chip companies are taking advantage of this situation and buying back tons of stock which is building tremendous shareholder value.
Exxon Mobil saw earnings decrease by 5% in the fourth quarter but because of massive buy-backs earnings per share actual increased by 2%. BHP Billiton just announced a $10 billion buy-back which is equivalent to 9% of its market capitalization. Exxon trades for just 12x earnings while BHP is valued at a mere 10x earnings. Many other Blue Chip companies have reduced shares outstanding between 4%-9% since the bull market started, including Emerson, Aflac, Coca-Cola, Citigroup, ADP, Wal-Mart, Pepsi, American Express, and Colgate-Palmolive. Best of all, these companies are trading at their lowest earnings multiple in a decade. As an example, Pepsi's P/E valuation has fallen from 37 times to less than 20 times expected 2007 earnings while its shares outstanding has fallen from 1.7 Billion to 1.6 Billion shares since 2002. Clearly, Blue Chips offer a great value in today's market.
To this point asset flows have favored small-, mid-cap, and international stocks as we discussed above, but there are signs a transition may be afoot. Actions in the markets in the past week exhibit the high volatility that is present in speculative assets. For example, recently popular emerging market investments swooned on February 27th and again on March 1st. An actively traded emerging market ETF (exchange traded fund) that invests in emerging markets fell over 8% on the 27th.
The move to Blue Chips will likely occur when risk premiums in the market are on the rise. Risk in our economy is linked to and dependent on actions in the housing and finance sectors. We have written extensively about the dangers in the sub-prime mortgage market. This business has been melting down: several firms have recently filed for bankruptcy protection, the stocks of several large sub-prime mortgage companies have fallen more than 40%, and the sub-prime divisions of large integrated banks are in disarray. If the damage from the sub-prime mortgage business spreads into other areas of our economy, risk premiums will likely rise across all asset classes and investors may seek shelter in neglected Blue Chip stocks.
Bottom Line: Conservative investors have traditionally taken comfort in the consistent growth of Blue Chip stocks but today get the added benefit of low valuation.
James G. Tillar, CFA
To read more visit Tillar-Wenstrup Advisors on the web: www.twadvisors.com or send them an email at: info@twadvisors.com
Tillar-Wenstrup Advisors, LLC, may have ownership in stocks mentioned in the article above. There can be no guarantee of investment success made by Tillar-Wenstrup Advisors, LLC relative to these selections.
About the Author
James Tillar is a Principal with Tillar-Wenstrup Advisors, LLC, a registered investment advisor located in Dayton, Ohio.
Increasing Your AdSense Revenue Through Good Marketing
There are many ways to make money using ready to use web site templates which have been designed for use with the Google AdSense program, it is important to market your various web sites effectively in order to gain the most benefit from your campaign.
Without a savvy marketing campaign behind you it can be quite difficult for even the most powerful AdSense enabled web site to succeed and grow the traffic it will need to earn serious revenue from this program. Web site traffic is one of the most important parts of making money with AdSense, since it is this traffic that will help to power the click throughs and page impressions that will provide the bulk of your web site revenue.
One element of web site marketing that many web site owners underestimate is the power of keyword rich articles and quality content. These articles and other forms of content aid the web site owner in a number of powerful ways. For instance, the keyword rich articles found on your web site help tell Google which types of ads to serve on your site.
After all, if Google cannot properly categorize your site or tell what it is about, it will not know which ads are appropriate to serve on the site. In the event Google is unable to determine the subject of your web site it will serve public service ads instead of commercial ones. While these public service announcements can be a good idea, they do not pay any AdSense revenue, so it is important to give Google the information it needs to properly classify your site.
If your site is focused on helping people get a handle on their debt problems, adding a number of quality articles aimed at helping consumers will allow Google to properly determine what your web site is all about. This web site content will also help Google host the appropriate ads, which in this case may include ads from debt relief services, bankruptcy attorneys and other such businesses. It is easy to see how this strategy is such an important way to market your web site and grow your AdSense revenue.
Savvy marketing is one of the cornerstones of earning AdSense revenues, and it is important to use a number of different strategies to market your web site most effectively. In addition to adding high quality content, it is a good idea to add a link to the URL as part of your email signature line. This simple strategy is often overlooked, but it can be a very powerful way to increase the visibility of your web site, and therefore increase your AdSense earnings.
Adding the URL of your web site to your email signature can help you in many ways, since every time your emails are forwarded your URL can be forwarded as well. Many web site owners who have used this simple strategy have reported excellent results from this easy to execute change.
Another way to increase the exposure and value of any AdSense enabled sites you own is to build those sites simply and easily using web site templates which have been specially designed to make the most of AdSense revenue. The formatting and placement of AdSense ad blocks can have a significant impact on earnings, and using these templates can help to provide a great deal more flexibility when using Google AdSense.
To learn more about this innovative and powerful new approach to increasing your AdSense earnings, check out the information found at http://www.adsensetemplates.com.
About the Author
Without a savvy marketing campaign behind you it can be quite difficult for even the most powerful AdSense enabled web site to succeed and grow the traffic it will need to earn serious revenue from this program. Web site traffic is one of the most important parts of making money with AdSense, since it is this traffic that will help to power the click throughs and page impressions that will provide the bulk of your web site revenue.
One element of web site marketing that many web site owners underestimate is the power of keyword rich articles and quality content. These articles and other forms of content aid the web site owner in a number of powerful ways. For instance, the keyword rich articles found on your web site help tell Google which types of ads to serve on your site.
After all, if Google cannot properly categorize your site or tell what it is about, it will not know which ads are appropriate to serve on the site. In the event Google is unable to determine the subject of your web site it will serve public service ads instead of commercial ones. While these public service announcements can be a good idea, they do not pay any AdSense revenue, so it is important to give Google the information it needs to properly classify your site.
If your site is focused on helping people get a handle on their debt problems, adding a number of quality articles aimed at helping consumers will allow Google to properly determine what your web site is all about. This web site content will also help Google host the appropriate ads, which in this case may include ads from debt relief services, bankruptcy attorneys and other such businesses. It is easy to see how this strategy is such an important way to market your web site and grow your AdSense revenue.
Savvy marketing is one of the cornerstones of earning AdSense revenues, and it is important to use a number of different strategies to market your web site most effectively. In addition to adding high quality content, it is a good idea to add a link to the URL as part of your email signature line. This simple strategy is often overlooked, but it can be a very powerful way to increase the visibility of your web site, and therefore increase your AdSense earnings.
Adding the URL of your web site to your email signature can help you in many ways, since every time your emails are forwarded your URL can be forwarded as well. Many web site owners who have used this simple strategy have reported excellent results from this easy to execute change.
Another way to increase the exposure and value of any AdSense enabled sites you own is to build those sites simply and easily using web site templates which have been specially designed to make the most of AdSense revenue. The formatting and placement of AdSense ad blocks can have a significant impact on earnings, and using these templates can help to provide a great deal more flexibility when using Google AdSense.
To learn more about this innovative and powerful new approach to increasing your AdSense earnings, check out the information found at http://www.adsensetemplates.com.
About the Author
Cody Moya writes about Article Marketing in his Free Courses on Internet Marketing. You can sign up for his freeCourses and get additional information at his website: http://FreeInternetMarketingCourses.com
Business Consolidation Debt Information
Many company owners that are currently going through a financial problems, such as multiple debts, realize that the problem definitely cannot be fixed or faced without the help of a business consolidation debt information company. These businesses have teams of people that take each case separately and analyze it in order to define which solution or method to apply to them, that is why the business consolidation debt information process is so necessary because the information gathered in every business is different and so the solution.
James Morrison, current client at Commercial Debt Counseling is the owner and manager of his own business and is going trough the process of business consolidation debt information where the professional counselors take a close look at his business and they sketch up a settlement and payment plan his specific case. This method is highly successful but it takes a lot from the combined effort of both, the client and the creditor that communicate through our team of specialist in order to maintain a healthy relationship. We make the deals with the creditors and after that we let the client know which offers are good enough to be considered, that is what the clients get with business consolidation debt information.
James Morrison: The business consolidation debt information process will save me from bankruptcy?
James Banks: For sure, bankruptcy although it may be known by people as a way out of debt problems it is also known for bringing some interesting secondary effects, such as high interest rates, the entry for bankruptcy will remain for as long as 7 years and your company will not be well seen under the lenders eyes.
James Morrison: What should I have in mind when choosing a business consolidation debt information company?
James Banks: Out there, meaning the internet and the current market, there are lots of business consolidation debt information programs to choose from, you could confused along the way of seeking a program that will fulfill all your demands. But remember, that is worth the effort because after choosing well you will be assuring your future. Specially given that there are many scams that promise one thing and do not accomplish it, remember that many of these companies are merely garage businesses that hire all of the services with a third company that lends all of the services. Ask for advice with the business consolidation debt information counselor and you will know what to look for.
The business consolidation debt information program, must: - Sketch a payment plan that will fit your business needs - Lower your interest rates - Help you find ways to make up a budget that will help free your business from debt - Be sure that the company provides business consolidation debt information counseling
James Morrison: How can I start the business consolidation debt information program?
James Banks: Simply, but filling out the online form on our site you will get signed in the business consolidation debt information program, after that you will receive a call from one of our counselors and he will explain how our program works, the benefits and the damages that will bring. Also the counselor will explain how your business situation can be improved and how to stop that the situation gets worse.
Business debt is not something to take lightly, it is a serious matter that can bring your company to bankruptcy, so take it in your hands but let professional people deal with the debt matter. After applying for the business consolidation debt information program you can also use it to learn from the counselors in order to avoid future debt situation and stay free, although it may no be an easy task but with an organized budget and proper decisions you can maintain your business as a profitable one and avoid as much as possible.
We have different articles on interesting topics and current and former clients' experiences with our programs. Take a look at the different situations on Business Consolidation Debt Information and related topics that people can fall into and how to keep yourself a debt free person. Check these links to learn more:
http://www.commercialdebtcounseling.com/useful-resources.shtml
http://www.commercialdebtcounseling.com/testimonials.shtml
About the Author
James Banks is a contributing writer to http://www.commercialdebtcounseling.com and is currently writing some special articles to guide business on how to manage debt and avoid bankruptcy. For Free Information on Business Consolidation Debt Information and Debt Help Consultation, call toll-free 1-877-850-3328
James Morrison, current client at Commercial Debt Counseling is the owner and manager of his own business and is going trough the process of business consolidation debt information where the professional counselors take a close look at his business and they sketch up a settlement and payment plan his specific case. This method is highly successful but it takes a lot from the combined effort of both, the client and the creditor that communicate through our team of specialist in order to maintain a healthy relationship. We make the deals with the creditors and after that we let the client know which offers are good enough to be considered, that is what the clients get with business consolidation debt information.
James Morrison: The business consolidation debt information process will save me from bankruptcy?
James Banks: For sure, bankruptcy although it may be known by people as a way out of debt problems it is also known for bringing some interesting secondary effects, such as high interest rates, the entry for bankruptcy will remain for as long as 7 years and your company will not be well seen under the lenders eyes.
James Morrison: What should I have in mind when choosing a business consolidation debt information company?
James Banks: Out there, meaning the internet and the current market, there are lots of business consolidation debt information programs to choose from, you could confused along the way of seeking a program that will fulfill all your demands. But remember, that is worth the effort because after choosing well you will be assuring your future. Specially given that there are many scams that promise one thing and do not accomplish it, remember that many of these companies are merely garage businesses that hire all of the services with a third company that lends all of the services. Ask for advice with the business consolidation debt information counselor and you will know what to look for.
The business consolidation debt information program, must: - Sketch a payment plan that will fit your business needs - Lower your interest rates - Help you find ways to make up a budget that will help free your business from debt - Be sure that the company provides business consolidation debt information counseling
James Morrison: How can I start the business consolidation debt information program?
James Banks: Simply, but filling out the online form on our site you will get signed in the business consolidation debt information program, after that you will receive a call from one of our counselors and he will explain how our program works, the benefits and the damages that will bring. Also the counselor will explain how your business situation can be improved and how to stop that the situation gets worse.
Business debt is not something to take lightly, it is a serious matter that can bring your company to bankruptcy, so take it in your hands but let professional people deal with the debt matter. After applying for the business consolidation debt information program you can also use it to learn from the counselors in order to avoid future debt situation and stay free, although it may no be an easy task but with an organized budget and proper decisions you can maintain your business as a profitable one and avoid as much as possible.
We have different articles on interesting topics and current and former clients' experiences with our programs. Take a look at the different situations on Business Consolidation Debt Information and related topics that people can fall into and how to keep yourself a debt free person. Check these links to learn more:
http://www.commercialdebtcounseling.com/useful-resources.shtml
http://www.commercialdebtcounseling.com/testimonials.shtml
About the Author
James Banks is a contributing writer to http://www.commercialdebtcounseling.com and is currently writing some special articles to guide business on how to manage debt and avoid bankruptcy. For Free Information on Business Consolidation Debt Information and Debt Help Consultation, call toll-free 1-877-850-3328
Debt Negotiation. The Way to Eliminate Your Debts
not made payments in the last 3 months on their current loans or credit cards, they are currently delinquent, which is the name that creditors and banks use for those people who have stopped making payments. The debt negotiation process is the next step in order to start solving the debt and credit card problem.
Nowadays, People need to learn more about the process itself, and if debt negotiation is the proper way to go. Self-teaching about the pros and cons of debt negotiation is a good first step. One thing to know about "debt negotiation" is that is also known in the market as debt arbitration.
- Debt Negotiation benefits -
Once the counselor has received the power of attorney, the counselor takes the case to a negotiator in oder to see what your total debt is. Once the negotiator gathers all the information, he will start calling the creditors in order to stop all the collection efforts, calls and letters, after that he will tell the creditors that any communication will be made through him and any offered deal will also have to go through him as representative of the client.
The debt negotiation team will define a payment plan that fits the client's payment capacity and they will start renegotiating his debts to try and lower them as much as possible. One of the things that increases the debt by a lot is the interest charged to the current debt and that is one of the main problems that debt negotiation attacks.
After making a debt negotiation deal where the debt will be reduced, the negotiator or counselor advices the client to take a look at the different deals that creditors offer, once the client makes up his mind the reduction process is on track. You can receive a reduction in your debt between the ranges of 40 to 50 percent and that is a great help, your monthly payment will be highly reduced and if you can make use of savings the process will take no more than 12 to 18 months, it all depends on the amount of money owed.
Another benefit is that these debt negotiation companies after settling the accounts, they also invite the client to start a learning process where he can learn how to permanently avoid future debt and how to handle his finances in order to maintain himself out of debt.
- Debt Negotiation damages -
A downside of the debt negotiation program is that it lowers the client's credit score for as long as he stays in the program. However, most debt negotiation companies require the creditor to update the credit report as paid in full so it does not show up as a negative entry on your report once your account has been settled.
Some debt negotiation companies include a credit repair service that will remove the negative items caused by the debt negotiation program. You pay for this service as part of their program.
Debt negotiation will show in credit reports; and as long as you stay in the debt negotiation program, you will not be able to apply for new loans or credit lines. You will have to stay away from any kind of credit services. Then again, once you finish paying off your debts and successfully leaving the program your credit score will start picking up as long as you keep yourself away from debt.
Although debt negotiation is a great way to avoid bankruptcy and free yourself from delinquent debt, people have to consider that there are many debt relief solutions. It all depends on what type of debt you have and how bad it is. Take a look at curadebt.com and seek professional counseling.
We have different articles of interesting topics and current and former clients' experiences with our programs. Take a look at the different situations on Debt Negotiation and debt related topics that people can fall into and how to keep yourself a debt free person.
About the Author
Jennifer Siegel is a contributing writer to http://www.credit-card-debt-negotiation.com/ Is currently writing some special articles to guide business on how to manage debt and avoid bankruptcy. For Free Information on Debt Negotiation and Debt Help Consultation, call toll-free 1-877-850-3328
Nowadays, People need to learn more about the process itself, and if debt negotiation is the proper way to go. Self-teaching about the pros and cons of debt negotiation is a good first step. One thing to know about "debt negotiation" is that is also known in the market as debt arbitration.
- Debt Negotiation benefits -
Once the counselor has received the power of attorney, the counselor takes the case to a negotiator in oder to see what your total debt is. Once the negotiator gathers all the information, he will start calling the creditors in order to stop all the collection efforts, calls and letters, after that he will tell the creditors that any communication will be made through him and any offered deal will also have to go through him as representative of the client.
The debt negotiation team will define a payment plan that fits the client's payment capacity and they will start renegotiating his debts to try and lower them as much as possible. One of the things that increases the debt by a lot is the interest charged to the current debt and that is one of the main problems that debt negotiation attacks.
After making a debt negotiation deal where the debt will be reduced, the negotiator or counselor advices the client to take a look at the different deals that creditors offer, once the client makes up his mind the reduction process is on track. You can receive a reduction in your debt between the ranges of 40 to 50 percent and that is a great help, your monthly payment will be highly reduced and if you can make use of savings the process will take no more than 12 to 18 months, it all depends on the amount of money owed.
Another benefit is that these debt negotiation companies after settling the accounts, they also invite the client to start a learning process where he can learn how to permanently avoid future debt and how to handle his finances in order to maintain himself out of debt.
- Debt Negotiation damages -
A downside of the debt negotiation program is that it lowers the client's credit score for as long as he stays in the program. However, most debt negotiation companies require the creditor to update the credit report as paid in full so it does not show up as a negative entry on your report once your account has been settled.
Some debt negotiation companies include a credit repair service that will remove the negative items caused by the debt negotiation program. You pay for this service as part of their program.
Debt negotiation will show in credit reports; and as long as you stay in the debt negotiation program, you will not be able to apply for new loans or credit lines. You will have to stay away from any kind of credit services. Then again, once you finish paying off your debts and successfully leaving the program your credit score will start picking up as long as you keep yourself away from debt.
Although debt negotiation is a great way to avoid bankruptcy and free yourself from delinquent debt, people have to consider that there are many debt relief solutions. It all depends on what type of debt you have and how bad it is. Take a look at curadebt.com and seek professional counseling.
We have different articles of interesting topics and current and former clients' experiences with our programs. Take a look at the different situations on Debt Negotiation and debt related topics that people can fall into and how to keep yourself a debt free person.
About the Author
Jennifer Siegel is a contributing writer to http://www.credit-card-debt-negotiation.com/ Is currently writing some special articles to guide business on how to manage debt and avoid bankruptcy. For Free Information on Debt Negotiation and Debt Help Consultation, call toll-free 1-877-850-3328
Your Business Is Incorporated - But Are Your Personal Assets Safe?
Many small business owners understand the benefit of incorporating, but they don't realize how easy it is to lose their "corporate status" if they get sued or end up in bankruptcy. This is dangerous because then the court can come after their PERSONAL assets (like their house, car, savings, etc)!
Today, I will review a little bit of why incorporating is so important for small business owners, and then tell you five simple steps you can follow to protect your personal assets, even if your business gets sued or goes through bankruptcy.
It makes sense to incorporate for a couple of reasons. First, because it protects you from personal liability, and second, because it offers you some great tax advantages. For today, we're going to just focus on the personal liability part.
When you incorporate, your business becomes like another person. This other person has it's own bank account, it can own things like property, and it can take risks. Even if that "other person" (your business) goes completely bankrupt or gets sued, YOU are safe (assuming you do everything correctly).
This is important because many new businesses fail, but you as the entrepreneur don't want to fail. You want to pick yourself back up and start your NEXT business which will be even more successful. Failure is a necessary way to learn, so we want it to be as painless as possible.
When everything works like it should, then yes, you PERSONALLY are protected. But there are certain situations where your corporate status doesn't help you out, and every business owner should be aware of them!
You see, setting up a company gives you so much protection from liability, that unethical people in the past have tried to take advantage of it. They have created "shell corporations", or businesses just for the purpose of liability protection, to help them get away with various crimes.
Of course, the law had to be modified to weed out these people and make sure they were appropriately prosecuted. But in the process, the requirements for honest small business owners became TOUGHER. Some extra steps are now required to make sure your corporate status stays intact.
By the way, whenever a court decides to waive the corporate protection and actually prosecute the owners behind the company PERSONALLY, they call it "piercing the corporate veil". (Lawyers always like to come up with fancy names for things.)
Following are the top five ways to protect you personal assets then starting a business. Make sure you do these correctly, and you can be sure that even if your business experiences a colossal failure, or gets sued out of existence, at least your personal assets are safe and you can start over.
1. Never Engage in Fraud or any Criminal Act
This sounds simple, but many small businesses owners unknowingly break the law. Never sell a product you know is defective or doesn't work, misrepresent something in your advertising, forge any signatures, or pull a bait and switch (offer a great deal to get people in the door only to tell them it is out of stock so you can sell a substitute.) Run your business HONESTLY and with INTEGRITY every day, and it will pay off in the long run.
2. Never Misrepresent Your Corporate Officers or Members
Don't ever lie about who is involved in your company. When it comes time to ask for investors, or get people to support you, you may be templed to exaggerate about who is actually working with you. If they haven't actually SIGNED your operating agreement, then they aren't your partner.
3. Make Sure Your Follow All Corporate Formalities
If you are going to claim you are a company, then you'd better act like a company. That means you have to file all important documents and keep them on file (your operating agreement, articles of incorporation, and DBA for example). You also have to keep detailed financial records. In Breaking Free, I provide samples of these documents and show you exactly how to create them yourself. This will literally save you thousands of dollars in legal expense because you won't have to pay a lawyer to create them for you. (Read more below)
4. Keep Your Business and Personal Assets Separate
The business has to have it's own bank account. The money in that bank account is not YOUR money. It belongs to the business. In fact, if you decide one day come along and take some money out to buy yourself a Hawaiian vacation, that is called embezzlement (a crime)! Many first time business owners (especially if they are the sole owner) don't understand this concept. The money in the company is not theirs. The company is like a separate person, and all assets must be treated as such.
5. Never Treat the Business' Assets as if They Were Your Own
Don't deposit your personal checks into the corporate account. Don't use company money to finance your personal life and hobbies. Don't lend the company car to your buddy for a weekend excursion. Don't set up a cot in the back of the office and start living there! Again, the business and yourself are two separate people. Treat them accordingly.
With these five basic steps, you will be well on your way to protecting your personal assets in the event your business goes under.
Many successful business people, from Donald Trump to John D. Rockefeller, went through periods of ups and downs in their life. Not every company they bet on was a success. But they managed to survive and lived to fight another day because they where smart enough to INCORPORATE correctly. They followed the above five steps to make sure they wouldn't lose their corporate status in the event of a lawsuit. They made sure that their PERSONAL assets were safe, even if the COMPANY went bankrupt.
About the Author
Brian Armstrong is the author of Breaking Free, and is an authority on How to Start a Business. Learn how to incorporate the easy way and protect your assets in our FREE Online Course. Click Now!
Today, I will review a little bit of why incorporating is so important for small business owners, and then tell you five simple steps you can follow to protect your personal assets, even if your business gets sued or goes through bankruptcy.
It makes sense to incorporate for a couple of reasons. First, because it protects you from personal liability, and second, because it offers you some great tax advantages. For today, we're going to just focus on the personal liability part.
When you incorporate, your business becomes like another person. This other person has it's own bank account, it can own things like property, and it can take risks. Even if that "other person" (your business) goes completely bankrupt or gets sued, YOU are safe (assuming you do everything correctly).
This is important because many new businesses fail, but you as the entrepreneur don't want to fail. You want to pick yourself back up and start your NEXT business which will be even more successful. Failure is a necessary way to learn, so we want it to be as painless as possible.
When everything works like it should, then yes, you PERSONALLY are protected. But there are certain situations where your corporate status doesn't help you out, and every business owner should be aware of them!
You see, setting up a company gives you so much protection from liability, that unethical people in the past have tried to take advantage of it. They have created "shell corporations", or businesses just for the purpose of liability protection, to help them get away with various crimes.
Of course, the law had to be modified to weed out these people and make sure they were appropriately prosecuted. But in the process, the requirements for honest small business owners became TOUGHER. Some extra steps are now required to make sure your corporate status stays intact.
By the way, whenever a court decides to waive the corporate protection and actually prosecute the owners behind the company PERSONALLY, they call it "piercing the corporate veil". (Lawyers always like to come up with fancy names for things.)
Following are the top five ways to protect you personal assets then starting a business. Make sure you do these correctly, and you can be sure that even if your business experiences a colossal failure, or gets sued out of existence, at least your personal assets are safe and you can start over.
1. Never Engage in Fraud or any Criminal Act
This sounds simple, but many small businesses owners unknowingly break the law. Never sell a product you know is defective or doesn't work, misrepresent something in your advertising, forge any signatures, or pull a bait and switch (offer a great deal to get people in the door only to tell them it is out of stock so you can sell a substitute.) Run your business HONESTLY and with INTEGRITY every day, and it will pay off in the long run.
2. Never Misrepresent Your Corporate Officers or Members
Don't ever lie about who is involved in your company. When it comes time to ask for investors, or get people to support you, you may be templed to exaggerate about who is actually working with you. If they haven't actually SIGNED your operating agreement, then they aren't your partner.
3. Make Sure Your Follow All Corporate Formalities
If you are going to claim you are a company, then you'd better act like a company. That means you have to file all important documents and keep them on file (your operating agreement, articles of incorporation, and DBA for example). You also have to keep detailed financial records. In Breaking Free, I provide samples of these documents and show you exactly how to create them yourself. This will literally save you thousands of dollars in legal expense because you won't have to pay a lawyer to create them for you. (Read more below)
4. Keep Your Business and Personal Assets Separate
The business has to have it's own bank account. The money in that bank account is not YOUR money. It belongs to the business. In fact, if you decide one day come along and take some money out to buy yourself a Hawaiian vacation, that is called embezzlement (a crime)! Many first time business owners (especially if they are the sole owner) don't understand this concept. The money in the company is not theirs. The company is like a separate person, and all assets must be treated as such.
5. Never Treat the Business' Assets as if They Were Your Own
Don't deposit your personal checks into the corporate account. Don't use company money to finance your personal life and hobbies. Don't lend the company car to your buddy for a weekend excursion. Don't set up a cot in the back of the office and start living there! Again, the business and yourself are two separate people. Treat them accordingly.
With these five basic steps, you will be well on your way to protecting your personal assets in the event your business goes under.
Many successful business people, from Donald Trump to John D. Rockefeller, went through periods of ups and downs in their life. Not every company they bet on was a success. But they managed to survive and lived to fight another day because they where smart enough to INCORPORATE correctly. They followed the above five steps to make sure they wouldn't lose their corporate status in the event of a lawsuit. They made sure that their PERSONAL assets were safe, even if the COMPANY went bankrupt.
About the Author
Brian Armstrong is the author of Breaking Free, and is an authority on How to Start a Business. Learn how to incorporate the easy way and protect your assets in our FREE Online Course. Click Now!
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