The road to Career Independence can have its bumps and bruises. As a Business Consultant working in an era of murky economic times, I strongly advocate the need for career independence. Unfortunately, employment in the United States and Worldwide has vastly changed. As you attain career growth, keep in mind that the only thing that lasts forever are your skills as a valuable asset to a specialized industry. With that in mind, if you're looking for a source of livelihood that pays well and has ample opportunity for growth, here's compiled a list of jobs that meet both criteria.
Showing posts with label DME Consulting. Show all posts
Showing posts with label DME Consulting. Show all posts
Wednesday, August 27, 2014
Wednesday, August 20, 2014
Marry a Billionaire or even better yet, divorce one.
As my mother would tell me, it is just as easy to marry a rich man as it is to marry a poor man. To find out who is rich, check out Forbes’ Billionaires list of top 10 of the most eligible bachelors including several who, at least for now, do seem to be taken.
Tuesday, August 12, 2014
Did you know your wandering neighborhood cat could be a Wifi Hacker?
Late last month, a Siamese cat named Coco went wandering in his suburban Washington, D.C. neighborhood. He spent three hours exploring nearby backyards. He killed a mouse, whose carcass he thoughtfully brought home to his octogenarian owner, Nancy. And while he was out, Coco mapped dozens of his neighbors’ WiFi networks, identifying four routers that used an old, easily broken form of encryption and another four that were left entirely unprotected.
Coco the Cat randomly roaming wearing the collar
Saturday, October 26, 2013
Everyone falls down; it's how quickly YOU get up that MATTERS
When I think of a truly successful businessperson, I think of Jeff Bezos, the founder of Amazon.com. Jeff didn't become successful and a multi-millionaire on his first try. He fell once (A9), and fell twice (Auctions), and thrived on the third run (Amazon.com).
Friday, October 25, 2013
How does the Marketplace Fairness Act affect your online business?
The Marketplace Fairness Act grants states the authority to make online and catalog retailers ("remote sellers"), no matter where they are located, to collect sales tax at the time of a transaction. Local retailers are already required to do. However, there is a caveat: States are only granted this authority after they have simplified their sales tax laws.
Simplification is required because of two Supreme Court rulings (Bellas Hess and Quill, described below) cite concern that collecting sales tax for multiple states would be too difficult.
The Marketplace Fairness Act requires that states must simplify their sales tax laws in order to ease those concerns and make multistate sales tax collection easy. Specifically, states seeking collection authority have two options for simplifying their sales tax laws.
Option 1: A state can join the twenty-four states that have already voluntarily adopted the simplification measures of the Streamlined Sales and Use Tax Agreement (SSUTA), which has been developed over the last eleven years by forty-four states and more than eighty-five businesses with the goal of making sales tax collection easy. Any state which is in compliance with the SSUTA and has achieved Full Member status as a SSUTA implementing state will have collection authority on the first day of the calendar quarter that is at least 90 days after enactment.
Option 2: Alternatively, states can meet essentially five simplification mandates listed in the bill. States that choose this option must agree to:
- Notify retailers in advance of any rate changes within the state
- Designate a single state organization to handle sales tax registrations, filings, and audits
- Establish a uniform sales tax base for use throughout the state
- Use destination sourcing to determine sales tax rates for out-of-state purchases (a purchase made by a consumer in California from a retailer in Ohio is taxed at the California rate, and the sales tax collected is remitted to California to fund projects and services there)
- Provide free software for managing sales tax compliance, and hold retailers harmless for any errors that result from relying on state-provided systems and data
With states adhering to these provisions or the similar measures in SSUTA, retailers across the country will find collecting sales tax for multiple states much easier than it has ever been in the past.
How did we get here?
The 1967 Supreme Court case National Bellas Hess v. Illinois Department of Revenue set the stage for the debate on taxing internet sales when, in its majority (5 to 4) opinion, the court ruled that: “the many variations in rates of tax, in allowable exemptions, and in administrative and record-keeping requirements could entangle [the company]'s interstate business in a virtual welter of complicated obligations to local jurisdictions” (emphasis added).
This quote demonstrates the ruling’s basis in complexity and burden, which has rippled forward to create today a tidal wave of unanticipated consequences. Since Bellas Hess, out-of-state retailers have been shielded from the obligation to collect sales tax, based purely on the notion that it would place too much of a burden on their businesses. To provide a sense of perspective, keep in mind that the year this ruling was issued was the same year the floppy disk was invented at IBM. It was also one year before the first plans were developed at MIT to create ARPANET, which laid the foundation for the internet we know today.
In 1992, the matter of sales tax on remote sales came before the high court again in Quill v. North Dakota. This time, the court reaffirmed the earlier Bellas Hess decision (8 to 1), primarily on the basis of stare decisis (“to stand by decision,” a doctrine that requires the court to respect the precedent set by prior rulings). The ruling went on to state,
“[O]ur decision is made easier by the fact that the underlying issue is not only one that Congress may be better qualified to resolve, but also one that Congress has the ultimate power to resolve. No matter how we evaluate the burdens that use taxes impose on interstate commerce, Congress remains free to disagree with our conclusions” (emphasis added).
This quote demonstrates the ruling’s basis in complexity and burden, which has rippled forward to create today a tidal wave of unanticipated consequences. Since Bellas Hess, out-of-state retailers have been shielded from the obligation to collect sales tax, based purely on the notion that it would place too much of a burden on their businesses. To provide a sense of perspective, keep in mind that the year this ruling was issued was the same year the floppy disk was invented at IBM. It was also one year before the first plans were developed at MIT to create ARPANET, which laid the foundation for the internet we know today.
In 1992, the matter of sales tax on remote sales came before the high court again in Quill v. North Dakota. This time, the court reaffirmed the earlier Bellas Hess decision (8 to 1), primarily on the basis of stare decisis (“to stand by decision,” a doctrine that requires the court to respect the precedent set by prior rulings). The ruling went on to state,
“[O]ur decision is made easier by the fact that the underlying issue is not only one that Congress may be better qualified to resolve, but also one that Congress has the ultimate power to resolve. No matter how we evaluate the burdens that use taxes impose on interstate commerce, Congress remains free to disagree with our conclusions” (emphasis added).
ConclusionThe retail world is a very different place today, forty-six years after Bellas Hess, and twenty-one years after Quill. Today, keeping track of a few thousand local tax rates is no longer an insurmountable technical, administrative, or financial burden - certainly no more difficult than calculating real-time-shipping, a common feature on most web sites and online sales marketplaces. Thus, the basis for the Bellas Hess ruling no longer applies and the Marketplace Fairness Act will help the many states now facing significant budget shortfalls. Although some suggest these States have a "spending problem" rather than a "revenue problem," it is important to recognize that these States have already been reducing their spending levels year-over-year and increasing collection and enforcement efforts based upon their existing sales and use tax laws. However, a State can only enforce these laws within its own borders unless (or until) Congress recognizes the significant advances made by "man and his ingenuity with machines" over the last 46 years. Simply put, without the Marketplace Fairness Act, our States are unable to require remote retailers to collect the existing sales or use tax already approved by that state's residents.
Sunday, October 7, 2012
Want to make money?? DIVERSIFY!!
I was reading the Urban Dictionary the other day, and looked up the definition of Insanity. According to that dictionary, it stated that Insanity is doing the same thing over and over and expecting a different result. The Urban Dictionary gave this example: Working a job and expecting to get rich is insanity. Now doesn't that tell most of the populous a truth?
If you're in business and have been running a company for a while, the economy has certainly not been very cooperative in providing decent revenues. While you may be an expert in a certain field and in the past saw decent business profits, if you really want stability and want to jump start 2013 revenues then you have to diversify. By this I mean, do something not related to your field but within one of your personal strengths to foster growth and sales.
Get out of your element! Especially if you've seen slow growth, delayed profits, or non payment by your customers! If you're good at selling - get a completely different product to sell. If you are a creative person, consider painting, web design, writing - anything that brings you into a different field than what you're currently doing.
If you have a certain expertise and find a fellow entreprenuer that requires what you do (and vice versa) - consider forming a limited liability company to unite both services. You do not have to share your personal companies to accomplish this. You can each keep your personal and primary companies separate. You don't even have to form an LLC, you can form a partnership by writing up an agreement between both parties. It's that simple!
Another example, albeit when it started it was on a small business level, is City Fuel of New Hampshire's acquisition of Dave's Septic (also in New Hampshire). It doesn't take much imagination to understand that Dave's Septic is all about septic tank cleaning and portable toilets white City Fuel provided fuel via 10 trucks and 10 service vans to neighboring New Hampshire towns.
If you're in business and have been running a company for a while, the economy has certainly not been very cooperative in providing decent revenues. While you may be an expert in a certain field and in the past saw decent business profits, if you really want stability and want to jump start 2013 revenues then you have to diversify. By this I mean, do something not related to your field but within one of your personal strengths to foster growth and sales.
Get out of your element! Especially if you've seen slow growth, delayed profits, or non payment by your customers! If you're good at selling - get a completely different product to sell. If you are a creative person, consider painting, web design, writing - anything that brings you into a different field than what you're currently doing.
If you have a certain expertise and find a fellow entreprenuer that requires what you do (and vice versa) - consider forming a limited liability company to unite both services. You do not have to share your personal companies to accomplish this. You can each keep your personal and primary companies separate. You don't even have to form an LLC, you can form a partnership by writing up an agreement between both parties. It's that simple!
As a business consultant for over 15 years, I can tell you that the companies that are weathering this economic storm have diversified and therefore grown. For instance Nabisco, recognized maker of cookies in the United States. Nabisco doesn't just make one type of cookie. It is the maker of Chips Ahoy, Fig Newtons, Mallomars, Oreos, Ritz Crackers, Teddy Grahams, Triscuit, Wheat Thins, Social Tea, Nutter Butter, Peak Freans, Chicken in a Biskit all used for the United States, United Kingdom, Mexico and Venezuela as well as other parts of South America. Nabisco merged with Post Cereals because both companies had certain strengths they could provide each other to foster growth.
Another example, albeit when it started it was on a small business level, is City Fuel of New Hampshire's acquisition of Dave's Septic (also in New Hampshire). It doesn't take much imagination to understand that Dave's Septic is all about septic tank cleaning and portable toilets white City Fuel provided fuel via 10 trucks and 10 service vans to neighboring New Hampshire towns.
Both businesses were completely different, but flourished because of their differences!
The businesses are managed by George Winslow. In the Summer, Dave's Septic is extremely busy providing septic tank cleaning and portable toilets at weddings, construction sites, outdoor events, etc. In the winter, City Fuel keeps employees busy providing fuel to homes and businesses to keep warmth on the premises.
It's this type of merger/acquisition that benefits entreprenuers. Even if you are successful, by diversifying in a completely different direction, you are ensuring that your business will continue to profit in good and bad economic times!
Thursday, December 22, 2011
Create your Business's own Credit profile
Are you aware that 92% of all businesses DO NOT qualify for traditional financing? Wouldn't you want your business to easily qualify for business credit without a lot of underwriting needed? If you have a business credit profile with Dunn & Bradstreet, Experian or other business credit reporting agencies, business lines of credit become a very easy thing to obtain. It's a matter of HOW to establish a CREDIT WORTHY business profile regardless of your personal credit history that counts.
You - the business owner - need to establish basic trade lines to begin creating your business's separate credit profile and identity. Businesses need a plan to establish business credit. Those are the types of businesses that banks fund.
Did you know that there are over 500,000 business vendors, but less than 5000 report to business credit bureaus? I can't stress how important it is to work with vendors who will report and to make sure they report accurately.
When you first open a business, all lines of credit need to be secured. In other words, everything has to be backed with money or collateral. I wouldn't suggest using your home as collateral (in case the business fails, you would lose your home), but many people have.
You can start with secured business credit cards and purchase the gas, computer systems, office supplies, etc. with the credit cards. Ideally you should have at least 2 secured business credit cards.
One example I like to use is Certificates of Deposits to fund your business. Let's say you have $50,000.00 to invest in your business. Instead of depositing the $50K directly into your business bank account, buy a CD worth $50K and use it to secure a business line of credit. This is how you would fund your business, get interest on the CD (albeit not much), and start establishing your business's credit.
DME Consulting can help you establish a business credit profile that will easily provide your business with credit (it also helps attract investors). We'll help you understand what business credit is all about. We will do an analysis of your business and provide you with a full report of the necessary steps you need to take and can guide you through the process. Contact us for further details at info@dmeconsultingco.com.
You - the business owner - need to establish basic trade lines to begin creating your business's separate credit profile and identity. Businesses need a plan to establish business credit. Those are the types of businesses that banks fund.
Did you know that there are over 500,000 business vendors, but less than 5000 report to business credit bureaus? I can't stress how important it is to work with vendors who will report and to make sure they report accurately.
When you first open a business, all lines of credit need to be secured. In other words, everything has to be backed with money or collateral. I wouldn't suggest using your home as collateral (in case the business fails, you would lose your home), but many people have.
You can start with secured business credit cards and purchase the gas, computer systems, office supplies, etc. with the credit cards. Ideally you should have at least 2 secured business credit cards.
One example I like to use is Certificates of Deposits to fund your business. Let's say you have $50,000.00 to invest in your business. Instead of depositing the $50K directly into your business bank account, buy a CD worth $50K and use it to secure a business line of credit. This is how you would fund your business, get interest on the CD (albeit not much), and start establishing your business's credit.
DME Consulting can help you establish a business credit profile that will easily provide your business with credit (it also helps attract investors). We'll help you understand what business credit is all about. We will do an analysis of your business and provide you with a full report of the necessary steps you need to take and can guide you through the process. Contact us for further details at info@dmeconsultingco.com.
Monday, November 14, 2011
Bring back Capitalism to America and create JOBS!!
Wall Street has certainly made a HUGE mistake in undermining Americans. We are a nation of do-ers, based on the principals of revolution. We do not go away quietly nor sit down and lie dead waiting for others to revive us. America is changing - all by ourselves....We've had enough of lies and manipulations and we're taking the bull by the horns.
"Taking our future into our hands" should be our national anthem. America has to exchange places with China and go back to manufacturing. We have to bring manufacturing back to the United States. We're the nation that created the Assembly Line (developed by the Ford Motor Company). We were the first nation to walk on the moon (Apollo 11 - July 20, 1969). Why is our credit rating as a nation downgrading? Really? We've been the best at everything because we put capitalism, innovation and business FIRST! We're a nation of free-thinkers!
Giving businesses the tax incentives to do so would be a great start. For instance, according to CNBC, the NUMBER 1 State in the United States to do business in is Virginia. Virginia is a business - friendly state. Texas is 2nd. These 2 states regularly battle for first and second place. Ever wonder why nationally Texans live better than the rest of us? The state has better business incentives and policies. Texans aren't suffering the recession like the rest of us. There's way less unemployment in Texas than the national average (8.4% in July '11 compared to 9.1% nationally). Texas Governor Rick Perry’s claim that “40 percent … of all the jobs in America were created in Texas” since June 2009 is accurate.
I've been investigating the best business friendly states for my clients quite a bit lately. The cost of doing business overseas and shipping goods to the United States has risen. I've been assigned the task of discovering new ways of bringing manufacturing plants back to the United States AND keep them cost effective!! I'll keep you all posted in my new discoveries....
"Taking our future into our hands" should be our national anthem. America has to exchange places with China and go back to manufacturing. We have to bring manufacturing back to the United States. We're the nation that created the Assembly Line (developed by the Ford Motor Company). We were the first nation to walk on the moon (Apollo 11 - July 20, 1969). Why is our credit rating as a nation downgrading? Really? We've been the best at everything because we put capitalism, innovation and business FIRST! We're a nation of free-thinkers!
Giving businesses the tax incentives to do so would be a great start. For instance, according to CNBC, the NUMBER 1 State in the United States to do business in is Virginia. Virginia is a business - friendly state. Texas is 2nd. These 2 states regularly battle for first and second place. Ever wonder why nationally Texans live better than the rest of us? The state has better business incentives and policies. Texans aren't suffering the recession like the rest of us. There's way less unemployment in Texas than the national average (8.4% in July '11 compared to 9.1% nationally). Texas Governor Rick Perry’s claim that “40 percent … of all the jobs in America were created in Texas” since June 2009 is accurate.
I've been investigating the best business friendly states for my clients quite a bit lately. The cost of doing business overseas and shipping goods to the United States has risen. I've been assigned the task of discovering new ways of bringing manufacturing plants back to the United States AND keep them cost effective!! I'll keep you all posted in my new discoveries....
Friday, November 11, 2011
Lessons to learn from Charlie Harper (Charlie Sheen's Character on 2 1/2 Men)...
When Charlie Harper emerged on the scenes of "Two and Half Men" - larger than Life, womanizing, wild, and a drunk - he seemed like he could be odious. Instead he turned out to be a likable, even lovable character. Did he change in any way? NO! However he "humanized" before our eyes..His demise was horrible...he got hit by a train when his "stalker" wife Rose pushes him in front of a Paris train track for (what else?) womanizing and cheating on her. Rose describes the result as a "meat explosion" during Charlie Harper's funeral.
Charlie Sheen caused his demise from 2 1/2 Men for openly mocking and disagreeing with Chuck Lorre, the show's creator and network executives. The self described "Warlock" never held his feelings back. He didn't go away quietly. Furthermore, he let his personal life's dilemmas interfere with his on-screen character and his attendance on set. The two meshed. As we all witnessed - it's not a good thing.
Keeping business and your personal life separate is key to success. Successful businessmen never ever let you in on what truly goes on in their personal lives. They let you see that everything is picture perfect. It's an image that needs to be projected - at all costs.
Let's face it, nobody will fix your personal problems - in fact they'll take advantage of you. Business is a lot like war. You constantly have to be ready for battle, therefore, you must project the image of a strong warrior. Faults are not to be laid out in the open or enemies will use it to their advantage.
Furthermore, if like Charlie Sheen, matters get out of hand, your strategy should be to remain cool and collective. As difficult as that sounds, imagine your ending being hit by a train and turned into a "meat explosion" of sorts. Even though we'd all love to jump at our opponent's throat and strangle them - this is not good business practice. Emotional judgments always backfire. Plan your next move as if you were in a battle for your life (which in fact, you are). Carefully plot your opponent's moves, and plan plan plan...unfortunately - yes - you're image is everything and by giving your opponent what he/she wants - an emotional response - you lose.
Read more: http://www.nypost.com/p/entertainment/tv/sheen_men_character_killed_in_subway_0gz9O895ZMherVTzjYtjxN#ixzz1dQtcqg3r
Charlie Sheen caused his demise from 2 1/2 Men for openly mocking and disagreeing with Chuck Lorre, the show's creator and network executives. The self described "Warlock" never held his feelings back. He didn't go away quietly. Furthermore, he let his personal life's dilemmas interfere with his on-screen character and his attendance on set. The two meshed. As we all witnessed - it's not a good thing.
Keeping business and your personal life separate is key to success. Successful businessmen never ever let you in on what truly goes on in their personal lives. They let you see that everything is picture perfect. It's an image that needs to be projected - at all costs.
Let's face it, nobody will fix your personal problems - in fact they'll take advantage of you. Business is a lot like war. You constantly have to be ready for battle, therefore, you must project the image of a strong warrior. Faults are not to be laid out in the open or enemies will use it to their advantage.
Furthermore, if like Charlie Sheen, matters get out of hand, your strategy should be to remain cool and collective. As difficult as that sounds, imagine your ending being hit by a train and turned into a "meat explosion" of sorts. Even though we'd all love to jump at our opponent's throat and strangle them - this is not good business practice. Emotional judgments always backfire. Plan your next move as if you were in a battle for your life (which in fact, you are). Carefully plot your opponent's moves, and plan plan plan...unfortunately - yes - you're image is everything and by giving your opponent what he/she wants - an emotional response - you lose.
Read more: http://www.nypost.com/p/entertainment/tv/sheen_men_character_killed_in_subway_0gz9O895ZMherVTzjYtjxN#ixzz1dQtcqg3r
Wednesday, January 26, 2011
How to invest in Music Concerts & Festivals
Artists are re-inventing themselves. CD sales are down. Music is being pirated left and right. So what's the logically BEST way for an Artist to make money? A Concert!! Fans have NO CHOICE but to pay to see and hear them perform.
David Vincent of Sankeys in Manchester, England, told Manchester Evening News “Artists are holding a lot more concerts now as they are not making much money from records anymore, so arenas are a growth area."
In the past few years, Mega Concerts and Mega Concert Promoters, like AEG and Live Nation, have shown sluggish sales and lack of profits. However, smaller venues and established concert promoters are seeing quite the opposite.
I spoke with Joe Fletcher, an established concert promoter who has promoted Motley Crue, Rascal Flatts, B.B. King, Hilary Duff, Kelly Clarkson, Korn, Lynyrd Skynyrd, 50 Cent, Eminem, Le Ann Rimes, Black Eyed Peas, Jimmy Cliff, Tori Amos, Snoop Dogg, Ludicris, Clay Aiken, Alison Krauss, Ani Di Franco just to name a few. Joe Fletcher has over two decades of experience promoting concerts. Joe stated that smaller concert venues have been filling up quite nicely. As he explained, in this economic recession,consumers still want to go out and enjoy themselves, but rather than paying a $150 ticket, they're willing to pay a $50 or $60 ticket to enjoy a nice evening out.
Horror stories abound regarding unscrupulous promoters taking investor's money and dissappearing. The key to concert investments is WHO you invest with. Joe Fletcher is an estabished persona in the concert promotion arena and he has an impeccable record. Artists respect him, business people respect him, and managers respect him.
"Pie in the Sky returns" aren't realistic. One story I read clearly stated that the promoter offered double the investor's money. When the promoter couldn't pay, investors cried fowl.
What is great about concert investing is that the investment is very short term, usually around 3 months. EVERYONE including the Investor(s) gets paid the night of the concert. Investments range from $25K through $100K, and promise returns of 10% to 15% (realistically). That would mean that in a year's time, should an investor continue to invest every quarter in a new concert, an investor can make a 40% return, conservatively speaking.
Concerts do have a lot of costs which include (first and foremost) the Talent (Artist) and the Venue. Then there's the ticket sales, seating arrangement, insurance, catering, staffing, etc. These arrangements are coordinated by the Concert Promoter. This is why the right promoter is the key to making sure the concert is a success.
Lesson for the Day: It's not how much you invest, but WHO you invest with.
Thursday, January 20, 2011
What makes a company GREAT?
Great companies come from great leadership. A great company's leadership NEVER forgets what it's like to be an employee. After all, in the circle of life, whether we're Company Presidents, CEO's, Owners, Secretaries, Managers, Clerks, etc (you get the picture)...we all WORK to please someone else.
A President/CEO of a company - big or small - works to gain the business of another. That could be as vast as providing a service for another business or consumer, obtaining funding from an investor or lender, or striving to attain or keep key employees to make the company function. All employees of a company work to keep the company viable, and feed their families and/or maintain their lifestyle.
The difference in a GREAT company is that its leadership is more altruistic and benevolent. I read an article in the Daily News on Russell Simmon's new book, "Super Rich: A Guide to Having it All"* Russell Simmons states: "The true self already knows it is a servant. Look inside for results and not out. Look inside for inspiration and not outside. Accept that happiness is up to you and every choice that you make has to come from inside you. You have to be comfortable with it. Don't let your teachers tell you what to do. Note for yourself. If you sit still, you — as one individual — have the power to change your world. Take stock in the self. Operate from abundance, the number of people's lives you inspire by being a good giver." Unfortunately for Russell - NONE of his companies made the "TOP 100 Companies to Work for" list. Russell should get back to the drawing board and spread some of his love and giving virtues to his employees.
Enterprenuers should emmulate the businesses from the 100 Best Companies to Work For -2010. The top 5 are:
Being an Entrepreneur myself, I certainly plan to have my company encompass all the best traits of these companies - and even better surpass them!
*(http://www.nydailynews.com/lifestyle/2011/01/01/2011-01-01_russell_simmons_def_jam_records_cofounder_discusses_super_rich_a_guide_to_having.html)
A President/CEO of a company - big or small - works to gain the business of another. That could be as vast as providing a service for another business or consumer, obtaining funding from an investor or lender, or striving to attain or keep key employees to make the company function. All employees of a company work to keep the company viable, and feed their families and/or maintain their lifestyle.
The difference in a GREAT company is that its leadership is more altruistic and benevolent. I read an article in the Daily News on Russell Simmon's new book, "Super Rich: A Guide to Having it All"* Russell Simmons states: "The true self already knows it is a servant. Look inside for results and not out. Look inside for inspiration and not outside. Accept that happiness is up to you and every choice that you make has to come from inside you. You have to be comfortable with it. Don't let your teachers tell you what to do. Note for yourself. If you sit still, you — as one individual — have the power to change your world. Take stock in the self. Operate from abundance, the number of people's lives you inspire by being a good giver." Unfortunately for Russell - NONE of his companies made the "TOP 100 Companies to Work for" list. Russell should get back to the drawing board and spread some of his love and giving virtues to his employees.
Enterprenuers should emmulate the businesses from the 100 Best Companies to Work For -2010. The top 5 are:
- SAS. One of the Best Companies for over 13 years, has a laundry list of benefits: high quality child care at $410 a month, 90% coverage of the health insurance premium, unlimited sick days, a ), a free 66,000 square foot fitness center and natatorium, a lending library, and a summer camp for children, medical center staffed by four physicians and 10 nurse practitioners (at no cost to employees
Jim Goodnight, SAS's Co-founder founded a culture based on "trust between our employees and the company" is the only CEO that SAS has had in its 34-year history. Although SAS gave away loads of perks, SAS is highly profitable and ranks as the world’s largest privately owned software company. Turnover is the industry’s lowest at 2%. - Edward Jones.The investment adviser weathered the recession without closing one of its 12,615 offices or laying off a single employee (the British division was sold in October). Salaries were frozen, but profit sharing continued.
Employee Perks: Telecommuting, 90% health coverage, Job Sharing program, Compressed work week, On site fitness center, subsidized gym membership, On site childcare, Paid Sabbaticals - Wegmans Food Markets. Rated one of the best groceries in the nation, and a former No. on the list, Wegmans has never had a layoff in its 94 year history. More than 4,000 employees, 11% of the workforce has been here for more than 15 years.
Employee Perks: Job Sharing Program, Compressed work week, Telecommuting - Google. The search engine king plans to add thousands of employees to its payroll in 2010. Though a few perks have been cut in recent years, Google last year increased 401(k) matching and added a stock-option exchange program to help employees with underwater options. Engineers still get to devote 20% of their time to projects of their choosing.
Employee Perks: On site Childcare, Job Sharing Program, Telecommuting, On site Gym
Being an Entrepreneur myself, I certainly plan to have my company encompass all the best traits of these companies - and even better surpass them!
*(http://www.nydailynews.com/lifestyle/2011/01/01/2011-01-01_russell_simmons_def_jam_records_cofounder_discusses_super_rich_a_guide_to_having.html)
Monday, December 27, 2010
The urgent need for Telecommuting
Since this past week we've seen massive flooding caused by rains in California, which then turned into Winter Blizzards across the United States. Most of the New York City region has been paralized due to the blizzard that pulmeted the region with approximately 30 inches of snow, and winds gushing to 55 mph. Public Transit haulted, roads have been impassable, and airlines and railways closed. Everything came to dead stop. Everything but companies who are ahead of their peers and telecommute!
Why is it in times of evolution, the majority of companies INSIST that they see their employees faces in person every morning at 9:00 AM? Simply put, management is egotistical. There is NO REASON why most office workers (unless they deal face to face with the public from their desk) need to be commuting into work.
Most Management is aware of and utilizing contact management software that not only organizes an employee's contact database but also generates reports on the efficiency level of managing those contacts. Case in point is SalesForce. It's highly adaptable to a company's needs. It can integrate with a sales dialer, keep an individual employee's contact database, generate leads, templates, call reports which can be broken down into time spent on each call, breaks the employee took, etc.
Computer tracking software is currently being utilized by many companies. The software can review every website that is visited, and see what is done while on the website. It can capture and review all instant messages delivered by both sides. It can track every email sent and received, including web-based emails. It can capture every single keystroke typed, including usernames and passwords. It can get the exact time and date everything is typed. It will also see everything an employee does on MySpace and Facebook and see every picture posted, every file downloaded, and will quickly find what they are searching for on google, yahoo, aol, etc.
These different type of software provide the necessary flexibility for companies to not need as many managers for employees, while continuiing to have a tighter grasp on an employee's productivity and time management. Most employees are completely unaware of how much "Big Brother" is watching.
Despite these recent software advances that most companies have set in motion, few if any allow telecomuting. Most company management believe that if they are not visually seeing their employees work, employees will not value their employment or position. I equate it to the start-up funding scenario. Employers want to know how much "skin" an employee have "in the game". In other words, "as an employee, if you value my company, you'll come into my headquarters and spend your money commuting to me, and giving up 8 hours daily of your life to me, because I am worth that much. I have the beautiful corner office, you work on the floor with all the other busy beavers." Ego.
JetBlue is an United States airline company that continuously posts profits for it's investors. JetBlue is a low cost airline that offers its passengers nice amenities like DirectTV movies, and Satellite radio. One of JetBlue's cost cutting overhead features lies in its Customer Service department. JetBlue's Customer Services department is entirely telecommuted. Every Customer Service rep works from the comfort of their own home. This greatly reduces JetBlue's overhead costs. In this day and age when so many airlines are showing losses on their balance sheets, JetBlue is again producing profits! This example shows how innovative corporate minds work to produce more profits for their investors and why telecommuting works.
Telecommuting offers companies the ability to significantly lower their overhead costs, increase employee productivity, and raise profits. It is a complete win-win opportunity. It is not for every business. There are some retail establishments, personal care businesses, and some government operations must be handled in person. But the majority of businesses worldwide can take advantage of software capabilities that would enhance their bottom line.
Why is it in times of evolution, the majority of companies INSIST that they see their employees faces in person every morning at 9:00 AM? Simply put, management is egotistical. There is NO REASON why most office workers (unless they deal face to face with the public from their desk) need to be commuting into work.
Most Management is aware of and utilizing contact management software that not only organizes an employee's contact database but also generates reports on the efficiency level of managing those contacts. Case in point is SalesForce. It's highly adaptable to a company's needs. It can integrate with a sales dialer, keep an individual employee's contact database, generate leads, templates, call reports which can be broken down into time spent on each call, breaks the employee took, etc.
Computer tracking software is currently being utilized by many companies. The software can review every website that is visited, and see what is done while on the website. It can capture and review all instant messages delivered by both sides. It can track every email sent and received, including web-based emails. It can capture every single keystroke typed, including usernames and passwords. It can get the exact time and date everything is typed. It will also see everything an employee does on MySpace and Facebook and see every picture posted, every file downloaded, and will quickly find what they are searching for on google, yahoo, aol, etc.
These different type of software provide the necessary flexibility for companies to not need as many managers for employees, while continuiing to have a tighter grasp on an employee's productivity and time management. Most employees are completely unaware of how much "Big Brother" is watching.
Despite these recent software advances that most companies have set in motion, few if any allow telecomuting. Most company management believe that if they are not visually seeing their employees work, employees will not value their employment or position. I equate it to the start-up funding scenario. Employers want to know how much "skin" an employee have "in the game". In other words, "as an employee, if you value my company, you'll come into my headquarters and spend your money commuting to me, and giving up 8 hours daily of your life to me, because I am worth that much. I have the beautiful corner office, you work on the floor with all the other busy beavers." Ego.
JetBlue is an United States airline company that continuously posts profits for it's investors. JetBlue is a low cost airline that offers its passengers nice amenities like DirectTV movies, and Satellite radio. One of JetBlue's cost cutting overhead features lies in its Customer Service department. JetBlue's Customer Services department is entirely telecommuted. Every Customer Service rep works from the comfort of their own home. This greatly reduces JetBlue's overhead costs. In this day and age when so many airlines are showing losses on their balance sheets, JetBlue is again producing profits! This example shows how innovative corporate minds work to produce more profits for their investors and why telecommuting works.
Telecommuting offers companies the ability to significantly lower their overhead costs, increase employee productivity, and raise profits. It is a complete win-win opportunity. It is not for every business. There are some retail establishments, personal care businesses, and some government operations must be handled in person. But the majority of businesses worldwide can take advantage of software capabilities that would enhance their bottom line.
Monday, December 13, 2010
Creative Opportunities to self fund your business AND not lose your shirt
We've all heard the old adage: It takes money to make money. Then there's the average rule of thumb that states that a business needs to be functioning for at least 3 years to fully support itself and grow. In the meantime, an entrepeneur needs to be able to either:
a) Have enough funds available to support the business for the first 3 years until the business starts producing
b) Get enough financing to get the business through the first 3 years before it produces
What if your business doesn't produce in the first 3 years? What if you need more years to produce? What if your estimates were wrong and you need more money than you originally thought? What if you lose all the money you've put into it? Worse yet - what if you obtained a loan to finance your business venture?
Going the traditional route to start a business doesn't suit every entrepeneur. The traditional route involves saving money, applying for a loan, and hoping that all of creation will be on your side as you grow your business. On the upside, if you have previous business experience, you are more likely to prevail. Newbie entrepeneurs have to tread very carefully to not mis-spend the loan funds. You must have extremely good credit, and cash reserves to hold you over for the first two to three years of business to help ensure your success.
This scenario does not apply to the majority of entrepeneurs these days. Creative procedures need to prevail here. As a budding entrepenuer, it is imperative that other routes of raising capital be found. Here's where thinking "outside the box" comes into place.
Music Concerts have always been a great form of entertainment. However, the larger concert producers have hit a snag in this economy. Bigger isn't always better. Live Nation is a huge conglomerate in the music business. With big arenas no longer filling up to a satisfactory capacity, LiveNation's profits have dropped for the 3rd quarter of 2010 (http://www.variety.com/article/VR1118026955). AEG Live owns and operates all of their facilities and swallows up contractually their artists. The average human being believes they cannot invest to profit from music concerts - or can they?
There are investment opportunities with smaller music concerts. There are legitimate smaller concert promoters that organize and promote musical acts and smaller venues. It is possible to invest with these promoters in their concert acts. The amount can be as small as $10K to 100K, depending on several factors which include the cost of the act, and the venue. The value is the short time you need to invest and the return on investment. You can invest for as short a time as 3 months to 6 months and get excellent returns.
Oil and Gas has ALWAYS been a lucrative investment. To get the most return on your investment you need to invest early on in the company - before the stock splits, and before they go public. Getting in on the ground floor is key. There are legitimate Oil and Gas ventures that during their nascent phase will offer what is referred to in the industry as "mailbox money" returns. This means that for your initial investment, which can be as low as $16K (depending on the company), you will receive monthly checks as long as the oil and gas wells produce - that could virtually be as long as 50 years.
Short term/high yield unconventional investing can work. Just as long term investment in a market that is sure to be around for decades. Doing your homework and knowing who the leaders are is an absolute must. Using these investments while you are raising the money to start your business operations can save you from having loads of financial headaches down the line. These are a few of the great ways you can self-fund your business venture and NOT lose your shirt.
Tune in next week while we further explore business start-up self funding.
a) Have enough funds available to support the business for the first 3 years until the business starts producing
b) Get enough financing to get the business through the first 3 years before it produces
What if your business doesn't produce in the first 3 years? What if you need more years to produce? What if your estimates were wrong and you need more money than you originally thought? What if you lose all the money you've put into it? Worse yet - what if you obtained a loan to finance your business venture?
Going the traditional route to start a business doesn't suit every entrepeneur. The traditional route involves saving money, applying for a loan, and hoping that all of creation will be on your side as you grow your business. On the upside, if you have previous business experience, you are more likely to prevail. Newbie entrepeneurs have to tread very carefully to not mis-spend the loan funds. You must have extremely good credit, and cash reserves to hold you over for the first two to three years of business to help ensure your success.
This scenario does not apply to the majority of entrepeneurs these days. Creative procedures need to prevail here. As a budding entrepenuer, it is imperative that other routes of raising capital be found. Here's where thinking "outside the box" comes into place.
Music Concerts have always been a great form of entertainment. However, the larger concert producers have hit a snag in this economy. Bigger isn't always better. Live Nation is a huge conglomerate in the music business. With big arenas no longer filling up to a satisfactory capacity, LiveNation's profits have dropped for the 3rd quarter of 2010 (http://www.variety.com/article/VR1118026955). AEG Live owns and operates all of their facilities and swallows up contractually their artists. The average human being believes they cannot invest to profit from music concerts - or can they?
There are investment opportunities with smaller music concerts. There are legitimate smaller concert promoters that organize and promote musical acts and smaller venues. It is possible to invest with these promoters in their concert acts. The amount can be as small as $10K to 100K, depending on several factors which include the cost of the act, and the venue. The value is the short time you need to invest and the return on investment. You can invest for as short a time as 3 months to 6 months and get excellent returns.
Oil and Gas has ALWAYS been a lucrative investment. To get the most return on your investment you need to invest early on in the company - before the stock splits, and before they go public. Getting in on the ground floor is key. There are legitimate Oil and Gas ventures that during their nascent phase will offer what is referred to in the industry as "mailbox money" returns. This means that for your initial investment, which can be as low as $16K (depending on the company), you will receive monthly checks as long as the oil and gas wells produce - that could virtually be as long as 50 years.
Short term/high yield unconventional investing can work. Just as long term investment in a market that is sure to be around for decades. Doing your homework and knowing who the leaders are is an absolute must. Using these investments while you are raising the money to start your business operations can save you from having loads of financial headaches down the line. These are a few of the great ways you can self-fund your business venture and NOT lose your shirt.
Tune in next week while we further explore business start-up self funding.
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