March 2023 - Page 3 of 13

Securing a Small Business Loan

Insufficient funding is one of the top reasons why 80% of businesses fail within the first year and a half. As a business owner, not only do you have to cover all operating expenses, but the time and effort needed to succeed means you will almost certainly have to bid farewell to your day job and regular pay checks. Unless you’ve saved up enough to pay for everything for at least 18 months, you will probably have to find other sources of funding.

However, here we encounter another problem. A recent survey cited by the Credit Union Times showed that only about one-fifth of small business owners – incidentally about the same rate of successful businesses – rely on a small business loan. The survey showed that 62% were fearful of taking on a loan and almost one-fourth of respondents think they would not be approved for one. A Harvard Business School working paper by Karen Mills (Administrator of the US Small Business Administration until 2013) showed even more discouraging statistics. Banks continue to apply measures that restrict small business lending since the financial crisis hit, since such loans are generally always riskier than those to large businesses. Loans amounting to $1 million or less – the domain of small businesses – have gone down 21% since 2008. These loans made up half of all bank loans in 1995, but only 30% in 2012.

So what can you do to have a better chance at securing a loan?

As the saying goes, “The devil is in the details.” Given the stricter requirements of banks, you will need to come up with a very convincing plan that shows your business will truly make a profit. Each number presented has to be supported by hard evidence or at least some realistic projections backed by in-depth research. There must also be a clear plan as to where the money will go and how it will influence your business’s success.

Aside from this, your entire personal finances will also be scrutinized, so make sure your taxes, mortgages, credit cards, assets and liabilities, and even your credentials are all spotless and in order.

The bottom line is, if you believe in your business idea and do the necessary due diligence in coming up with a sound budget and business plan, there should be no reason to be denied a small business loan. Otherwise, you may want to reconsider quitting your day job.

New Small Business Loans Starter Guide: What Are Your Options for Financing As a New Business Owner?

It’s not easy at all for new businesses to get all of the funding they need. Even if you have excellent personal credit, you still might have trouble obtaining all of the business money you need. The good news is that there are a variety of options available these days, including online banks and crowdfunding. Just take the time to research all of the new small business loans and determine which ones you should try going for.

Microloans might be worth looking into as well. There are SBA microloans, which are typically available up to $50,000, as well as non-profit organizations that offer micro-lending options for up to $35,000.

Before applying to any kind of loan, there are a few factors you must consider about your own finances. In addition to your own credit report, you need proof that you will be able to repay the loan. Make sure you communicate any experience and expertise you have that will be directly applied to the business you are trying to establish.

You’ve probably come to the realization that new small business loans don’t come with the lowest interest rates. If you’ve been in business for less than two years, you will have a more difficult time qualifying for a big loan with a low interest rate. If your credit isn’t the best, you might have to put up some collateral and get a secured loan.

New Small Business Loans for Equipment

If it’s primarily equipment you need, then go for an equipment financial loan. This type of loan is specifically designed to help organizations pay for the equipment and machinery they need for getting started. They are similar in structure to a traditional loan, although the repayment terms can be for a longer period of time. Keep in mind that the proceeds can ONLY be used to purchase the machinery / equipment you need. The downside to an equipment loan, obviously, is that if you default, the lender has the right seize that equipment.

While some entrepreneurs actually take out a personal loan to fund their startup, this might not be the best idea considering that if the business should fail, you and you alone will be responsible for it. Not only will the business fail, but your own personal credit will be destroyed.

Your best bet is to look for new small business loans with online lenders, such as US Business Funding. There are many options available, such as vendor programs, equipment leasing and financing, working capital, and so forth. The approval rate is very high, and you can get started right away.

Admin Professionals: Discover Hot Time Management Tips to Increase Productivity and Get More Done

The reality is: Increased workloads are here to stay. However, there’s powerful ways to manage your workload through calendar management and productivity tools so that administrative professionals and employees at all levels of an organization can take on new, expanded roles to achieve peak productivity.

It’s time to rethink the way you work. In recent years, businesses have been asking employees at all levels to take on new projects or roles, and basically do more work.

The reality is: Increased workloads are here to stay. If your job has turned into a “stretch job,” you may be wondering if there’s a better way to get more done in less time, relieve stress and avoid taking work home at night. And while you can’t create more hours in the day, you can learn how to use your time to the best advantage.

Here are few ways employees can work reasonable hours, prioritize tasks, track productivity, organize their calendars and use tech tools and software to manage projects efficiently.

–Manage projects, not time. Match the task with the person. Give snappy introductions. Cluster related projects. And make ‘just in time’ decisions.

–Managing interruptions. Don’t allow your open door policy to be abused. Let people know when you really can’t be interrupted. Discourage upward delegation. Encourage workers to make decisions for themselves. Put a curb on venting time. Arrange your office strategically. Stand up when an unannounced visitor enters. Learn to dismiss irrelevant interruptions. Use silence as a weapon.

–Master Delegation. Learn what to delegate versus give to yourself such as: Routine and repetitive jobs. Jobs requiring special expertise. Pet projects. Crises. Policy making. Personnel matters. Symbolic acts.

–Embrace technology. Simplify with apps: Getting the right apps can help you get lots of things done without ever needing to open the computer. Apps can make it much easier than navigating websites. Digital archiving: The Internet is great for keeping track of content and capturing ideas. Sites like Del.icio.us let you bookmark websites to come back to later. Having a digital archive can save you time when you need to go back and find something later.

How Top Performers Employ Their Time

Most people think the key to being productive is working flat-out 100% of the time. Not so. A recent study on highly productive people indicate a few techniques to help virtually anyone increase their productivity:

-Vary the pace. For unfamiliar new activities, they slow down and work methodically until they’ve learned what they need to know. Yet, in activities in which they’re already experts, they work quickly-sometimes, with blinding speed.

-Orient themselves toward garnering big returns, fast. When possible, their goal is to seek the biggest advantage in the least amount of time.

-Eschew monolithic project management. When handling complex projects, they multitask by letting different implementation teams handle different parts of the project.

-Take frequent breaks to rest and recharge. That might be why top execs haven’t abandoned lunches.

-Accelerate different parts of big projects, whenever possible. Example: If the research they conducted last year gives them a leg up on a big project currently on their plate, they plug it in.

Employees need to work smarter while embracing technology to speed tasks. The payoff is more efficiency, less stress, improved performance and career wisdom – which ultimately helps you, your boss, your staff, and your organization’s bottom line.

Online Webinar Software – Improving Your Business Appreciably

Businesses are increasingly using online webinar software as it adds tremendous value to the operations. A webinar is a two-way interaction wherein audiences can pose questions and obtain real-time feedback. If conducted in a right way, it is bound to engage the audiences.

How online webinar software helps?

Customers can create customized content to target the required users. Webinar software makes it possible to market the products and services in a focused manner. Conducting it can help you connect all the members of your concerned business on a common platform for training, discussion or some other purpose. Users taking part in any such program can join teleconferencing for one to one session. The whole activity is akin to a contact class of the yore.

A webinar is a boon for small businesses as they can convert sales without being pushy. Generally, people educate and sell the products, however, the software allows the clients to perform both activities at the same time. It is an important tool to acquire and retain the targeted audience. Effective content is essential to highlight the problems and eliminate objections. In addition, it also offers solutions to the users.

Saving your time for good

Simultaneous communication is one of the most important aspects of the teleconferencing during webinar sessions. An individual can take up questions and provide answers to the users. Physically it is not possible to meet hundreds of people at one place, but the online webinar software has converted an impossible task into a possible one. Remote connectivity wins you more customers irrespective of the geographical locations.

Audience engagement plays a very important role in transforming the business of the companies. During webinars, the users may miss the video if they are not present on time. In this situation, they may go through the recording of the meeting shared by the admin. Conversational interaction should help the companies to strike a rapport with the future prospects.

Generate more leads

Lead generation is a vital benefit of the using the webinar application. Via Online webinar software, we can connect with multiple users or customers at a time. Business depends on the number of eyeballs that a product attracts. Hence, webinar session is the way to engage new customers. People who are participating in the conversation have to register with their mail ids and contact addresses. Hundreds of leads are potential sales that the marketing department target for the company.

Beyond Buzz – The Next Generation of Word-of-Mouth Marketing By Lois Kelly

Beyond Buzz: The Next Generation of Word-of-Mouth Marketing By Lois Kelly, Amacom (American Management Association), 1601 Broadway, New York, NY 10019, ISBN 0814473830 , 978-0814473832, $24.95, 240 Pages, 2007

Lois Kelly’s first book Beyond Buzz: The Next Generation of Word-of-Mouth Marketing drills deep into how marketers must move beyond talking at their customers and align themselves in their lives, to make the relationship connection, and thus the resulting sales. Kelly has an impressive resume that includes time at Harvard and has contributed articles to Advertising Age, Brand Week, USA Today, and The Wall Street Journal. Ms. Kelly understands the need to listen closely to consumers to find out as much about what turns them off and what turns them on, to drive sales. The bad news consumers share with service providers and manufacturer’s in surveys or in discontinuing use, might not be what corporations want to hear, but Kelly’s viewpoint has interested clients such as Dunkin’ Donuts and Sun Microsystems.

Chapters cover Enough with the marketing blah, blah, blah-let’s talk about something interesting, Make meaning, not buzz, Have a fresh point of view (or several), Listen up: Seven ways to uncover talk-worthy ideas, Nine themes that always get people talking, Straight talk: Talk like you talk, talk like you mean it, talk in these ten new ways, Shift to a conversational marketing mind-set, Building a “talk” culture, Be more interesting-conversations, passion, and an honest point of view. Additional features include a forward, an introduction, and a resource appendix. A must-have guide for prospective new-construction homeowners, manufacturers in the factory-built construction industry and those looking for a “green” alternative to site-built housing.

If you’re looking for a cutting-edge book on how to reinvent your customer relationships, pick up a copy of this important new business book.

Monkey Business: Is A Monkey The Right Pet For You?

Monkey Business…

As a young teen living on the West Coast of Florida I was like a fish out of water. I moved there from New York with my parents. There were many things that took some getting used to and I was not a fan of the heat or bugs. Whoever invented air conditioning has my eternal gratitude! Then there were things that helped me tolerate any negatives. The casual lifestyle and dress, the beaches and the fishing to name a few. One the things I really loved about Florida was that it lacked many of the rules and restrictions that East Coasters were and still are cursed with today. Even in the early 1970s you could not walk into a NYC or Long Island pet shop and purchase a monkey. However, you could do that in Florida.

Before the government decided that they would make all the decisions for us, there was a time you could decide many things for yourself. That included what type of pet you might want to purchase or adopt. Sadly, there were some people who spoiled that for honest, sincere and thoughtful pet owners… People who left their dogs perpetually tied to a tree, kept an alligator in the pool, had a tiger in their apartment or used their home as an animal rescue center keeping hundreds of poorly fed cats in a totally unacceptable environment… Now I am not saying that there should not be laws against keeping certain types of wild or exotic animals as pets. What I want to point out is if the government is forbidding people from owning animals because they are endangered or in the opinion of some “expert” might be psychologically damaged by living with people… Then they are barking up the wrong tree.

As a fourteen year old boy I walked into a Florida pet shop and saw a squirrel monkey languishing in a small cage. This was not a case of neglect or abuse. This type of thing is often done by pet stores as a hook to get you to buy one of their more pricey or hard to sell selections. So said my dad and he was correct. Another week went by and the monkey was still there when I returned. At $25 it did not cost a fortune and that price meant the store wanted it gone. It was a time when few tourists were in town and that made it harder to sell. Most locals were older and did not want the hassle of keeping a Primate as a pet. Besides, the monkey was not good at self promotion. It had barely been weaned when someone took it from its mother, gave it some shots and sold it to the pet store for resale. As a result the animal was shy, skiddish and frightened.

I went to the local library and did some research on squirrel monkeys before I finally purchased him two weeks after my first visit to the pet shop. My parents were good with my purchase because I had always been a responsible pet owner having had a dog, birds and guinea pigs. The dog died before we moved. The other pets were adopted to neighbors who already knew and liked them because it was just not possible to bring them along. I named my monkey Sam and brought him home to a large cage that we kept in a Florida Room with jalousied windows on the side of our house. It faced an unused lot that was overgrown and looked like a jungle. That room could be cut off from A/C if necessary, but was heated for the short period of time that our area experienced any chilly weather.

Squirrel Monkeys are easy to feed, not very expensive to keep and not hard to train if you train them to do things they enjoy doing. However, they require a lot of companionship and mental stimulation. Fortunately, Sam liked me. He tried to bite me at first so I pinched him a few times until he learned not to be so aggressive. This was only possible because I got him so young. I also put him in his cage when he misbehaved. The idea was to use conditioning and repetitive discipline as tools to have the animal behave. I was the head of this primate group, not him. I was the provider of food, water and shelter. Once he figured all this out he learned faster. In the beginning I used a leash. After a few months it wasn’t necessary. He was allowed to roam freely under our supervision and even played outside while we had barbeques or went in our pool. He used the empty lot next store as an exercise yard climbing the trees and chasing birds and squirrels. He also used it as a potty so I guess you could say he was potty trained for the most part.

Dogs and monkeys are sworn enemies. You can’t really have both without stressing out one or both pets. In reality Monkeys are jealous. I strongly suggest that if you plan on owning a monkey of this type you avoid having other pets. Most Monkeys that are not well trained or kindly treated will likely get mean or moody as they transition to adulthood. Constantly caged monkeys will pee on you or throw feces at you. They may also attack you or destroy things they see are important to you if given the opportunity.

As a rule Monkeys are smart. They learn fast and are great escape artists. That is why training is important. I always left Sam’s cage door open once he was trained. I did close the doors to that room. He learned to close or open his cage door as it suited him. After a while he learned how to open and close all the doors that lead to the back yard so he could go outside to play or do his business. But he would never go unless one of us gave him our permission. Doors to his room were padlocked when we went out without him.

Owning a squirrel monkey is easy and hard… satisfying and frustrating… fun and annoying… but it is ethical? Is it detrimental to the animal? You will have to decide for yourself unless your city or state has already done that for you. The truth is that people are going to own monkeys regardless. In China it’s illegal, but thousands of Chinese own “Pocket Monkees” which are usually purchased as baby Pygmy Mamosets, Capuchins or Resus Monkeys. They do not treat them well. They tie their arms so they will learn to practice walking on twos instead of all fours which is painful and unnatural for them. They shave off their fur and dress them in clothes. You get the picture. These animals are status symbols in China where most authorities look the other way and ignore the rich and important people who own them. However, if they or responsible pet owners did not buy the monkeys they would be sold to research labs and condemned to a life spent being subjected to physically or emotionally damaging experiments while living in a tiny cage devoid of love or companionship.

Each year tens of thousands of monkeys are shipped to research facilities worldwide and many orders for more from these same torture centers remain unfilled. Given that fact it is hard to be concerned about the morality of owning a monkey as a pet compared to the same animal ending up as a lab rat. Most people I know who have owned a monkey did not mistreat it, or shave it, or beat or keep it in an improper environment. Once again, if you have the legal right to own one, you have to decide if it is something you should do or not. Before you do anything, do lots of research and buy from a reputable breeder if you decide a monkey is the right pet for you. No more $25 prices. You will spend $3000-$6000 depending on the type of monkey you choose. Most people prefer the Capuchins for their ability to learn tricks and behaviors. If tiny is your plan Pygmy Marmosets are finger sized as babies and hand sized as adults. Squirrel and Spider Monkeys require more time and effort than most people care to invest in a pet.

MLM’s: Waste of Time, Or Goldmine?

When most people think about Multi-Level Marketing, they envision slick-talking,

insurance salesman-like people pushing their products at everyone in sight. Maybe some

of you have even tried MLM’s, didn’t get insanely rich overnight and gave up thinking, “I

must not be cut out for this business” or “this is the last time I fall for one of these

schemes”.

Part of the reason that many people don’t make any real money with MLM’s is that they go in with unrealistic expectations. It’s not really even their own fault either. A lot of the ads you see

out there are promising some pretty appealing stuff; overnight riches, insane profits, quit

your job today. If it were really that easy, wouldn’t everyone be working in their pajamas

and retiring at 30?

Want to know the truth? You can make money with MLM’s. Good money. I know, I

make good money.

So what’s the secret you ask? It’s not really a secret. If you think about it, it’s really just

basic business technique. The problem is that the true nature of MLM’s can be clouded by

all the hype, and people that aren’t well-suited to this business join up thinking it’s their

ticket to financial freedom. Let’s look at the pros and cons, and you can decide if an MLM

can work for you.

PRO: When you join an MLM company, you are basically starting a business. But it’s kind of

like a franchise. You’re using the tools that an already-successful company has tested,

used and proven to be effective. You’ve got a great product (I’m assuming you’ve chosen

a program that does, in fact, offer a quality product). All of this already gives you one of

the biggest benefits of MLM programs: you don’t have to deal with the manufacturing,

the packaging, the shipping, the inventory, the order-taking. Your focus is on the

advertising, and because of the power of the internet, this is literally at your fingertips. In

short, the company does most of the work for you.

CON: This very fact can actually be a drawback for some people. It goes back to unrealistic

expectations. Because it seems so easy, some people think that they don’t have to do

anything, that the money will just start rolling in once they sign up. You laugh, but I’m

telling you that I see this happen every day. In fact, more people don’t do the A-number 1

thing that you must do which is to place at least ONE ad. It would be like planning a

great party with the best caterer in town, but not sending out any invitations and hoping

that guests would just come stumbling by. The bottom line? You do have to put in time,

effort and sweat equity, just like any other business.

PRO: Promoting an MLM program allows you an extremely flexible business. It really can be

done in your spare time. Most of that sweat equity is spent in the beginning; planning,

organizing, placing your initial ads, etc. Once you have the foundation in place, most of

your time is spent finding new ways to promote your business. You aren’t tied down to a

9-5 schedule, you don’t have to attend meetings, wear suits, be at the mercy of your boss.

CON: It is imperative that you follow up religiously. By following up I mean not only with your

leads, but with your downline. This is the absolute key to turning a little trickle of sales

into a real source of income. The secret is in your downline. Most programs offer at least

a 2-tier commission program. Many go much deeper. Those who are making the really

big money are the ones who teach, mentor and follow up with their downlines. Personally,

I wouldn’t classify this one as a con, but I know that many would. If YOU want to be

successful, then make THEM successful. And what about your leads? You’ve probably

heard it before, but I’m going to say it anyway; on average people have to be exposed to

your information 7 times before they will buy. The good news is that so much of this

process can (and should) be automated. If you only use one tool to automate your

business, then make it an autoresponder.

CON: If you absolutely can’t handle rejection and/or can’t stick with something unless it gives

you immediate results, then MLM’s are not for you. Most people give up before they’ve

even given it a chance. Even with a “killer ad” it’s still a numbers game, and persistence

will pay off. If nothing you’re doing is working, you have to make changes, test,

monitor. Then you have to make more changes, test, monitor. Then, when you find just

the right ad and just the right places to post them, they might suddenly stop pulling.

Remember, this is your business. You’ve got to keep changing your approach as your

audience changes. Look how quickly companies change their commercials. They’re

responding to the changing market. This is why Jack was blown up, and it’s also why he’s

Back.

Always do your homework before you sign up. Ask for references from existing

associates. Contact the BBB and see if they have any information on the company, good

or bad. Be sure to read all the information that is presented to you. My personal

recommendations for legitimate home business opportunities can be found here.

So what’s the moral of the story? MLM’s can be a viable source of income. They can be

for you if you are persistent, organized and enjoy helping others, but they’re not for

everyone. Take stock of your skills and your expectations and you will be able to make an

informed decision rather than wasting your time chasing something that’s just not for you.

Resources:

The Better Business Bureau– They have an alerts section and local BBB information.
The FTC has a lot of information on which MLM’s to stay away from. Just by doing a search at their website for multi-level marketing you can get a ton of information. You can find out which companies are or were being investigated or taken to court by the FTC, and lots more.
Cagey Consumer [http://www.geocities.com/WallStreet/5395/consumer.html]-Keep on top of the latest scams, and investigate hot topics like Internet fraud and travel scams.

Part-Time Lawn Mowing Business While Working a Regular Job

No matter what the economy, the grass still grows. There is always someone near by who needs their lawn mowed and cannot do it themselves. These folks have a problem and you, the full-time employee wanting to start a part-time lawn mowing business, have the solution. They can pay you to mow their yard. Problem solved.

I often get the question of whether you can start your lawn mowing business part-time in the evenings and on weekends and keep your full-time job. The answer is a big yes!

The question is can you do it? If you have lots of energy, enjoy being outdoors and working in your yard, and can handle just 5 to 10 extra hours of physical work each week, you can start a part-time lawn mowing business and keep your regular job.

People who work 12-hour rotating shift schedules are in a terrific position to run a lawn mowing business part-time while keeping their full-time jobs because they have so many days off.

Marketing
First, you need to find some customers. Write a flyer using word processing software, print it, take it to your local copy shop, have 25-30 copies made, and distribute them around your neighborhood within walking distance of your house. You may want to use a half-page flyer so you can distribute to 50-60 houses. Include what you offer the prospect (lawn mowing, edging, cleaning off the concrete), your name, best phone number to contact you, your address so they know you are a neighbor and how much you charge. Since you are new to the business charge on the lower end of the average rate other lawn care professionals charge in your area. Five dollars cheaper than average may get your neighbors to stop using someone out of the neighborhood and start using you instead.

Another reason to start with your neighbors is they know you or know of you and we all want to help other people, especially people we know. Since these folks are close by, you get to go out, knock on doors and meet your neighbors while marketing your business to them. Smile, introduce yourself and tell them which house is yours or what street you live on and get to know a little about them and some things you might have in common. Hand them a flyer at the end of the conversation and move on to the next house.

Keep this up until you have at least one person ready for you to go home, get your equipment right now, come back and work that day and are pulling out their checkbook to pay you. If this happens, stop marketing that day, service your new customer and earn some money. Continue marketing the next day.

When you have the number of customers you think you can handle, stop marketing daily and only doing a little occasionally or when someone asks for your information. You will need to keep a few flyers on hand to give out. Be on the lookout for yards that overgrow and see if a lawn service comes to mow them. These folks may need someone closer who will service their lawn regularly. Be sure to visit them and ask.

Equipment
Do not buy any commercial equipment or go into debt. You only need the mower you use on your own lawn, a gas-powered string trimmer and blower to get started. If you have an electric-powered string trimmer and blower, you can still use them, but make sure the customer knows you will need access to an electric outlet and you will need a very long extension cord.

Alternatives to gas and electric-powered trimmers and blowers are the cordless rechargeable models. They are less expensive than their gas-powered cousins, cheaper to operate and much more environmentally friendly. If you have electric equipment that requires an extension cord, you will want to replace it with cordless electric or gas-powered equipment as soon as you earn enough money mowing to do so.

Starting within walking distance of your home eliminates the need for a truck or trailer to haul equipment to job sites keeping costs down. If you live within walking distance of the job you can put your equipment and gas can in a wagon or cart and pull your lawn mower along by hand. If you are willing to do this extra manual labor you are more likely to succeed because you are not afraid of hard work and not prone to overspending.

Earnings
One of the biggest reasons to have a part-time lawn mowing business is you make significantly more money for the time you spend working than at most other part-time endeavors.

If you charge $50 to mow the grass, edge and clean up and you can do 5 lawns after work and on weekends each week, you will earn $250 per week. You will need to set 15% of your revenue aside after expenses (gas, parts, repair, replacement equipment, etc.) for self-employment taxes which you will need to pay each quarter. If you spend $9 on gas and save $36 for taxes, your net weekly earnings will be $205. Six weeks of hauling your equipment by hand will build physical strength and allow you to accumulate about $1230. You could also resubmit your form W-4 at work to take the correct amount of extra money out of your pay checks to cover these taxes. However, if you are trying this to determine if you want a full-time lawn mowing business I recommend you become familiar with paying self-employment taxes quarterly.

After 20 weeks of mowing 5 lawns per week you will have netted nearly $4,000. It will be less than this because your equipment will need maintenance and repair. That will not cost more than a few hundred dollars, so you will still have around $3,700 if you save your profits.

Now you will have the cash to buy a good used commercial lawn mower. Once you have a commercial mower you will be able to increase the number of yards you can mow per week in the same amount of time it took with your residential mower, increasing your revenue. You may be able to mow 10 yards per week instead of 5, so your gross revenue will jump to $500 per week. After another 10 weeks you may have enough cash to buy a used trailer to haul your commercial equipment.

Remember that in many areas there are only 3 mowing seasons or about 40 weeks of steady work each year. If you spend the first 40 weeks earning enough to get some commercial equipment and increase your customer base, your second part-time year will be mostly profits.

Two years part-time in the business will allow you to decide if you want to start mowing full-time. You will know it is time to go full-time when you are turning customers away because you do not have time to service their yards and if you could take on those customers, you would earn more annually than at your full-time job.

Earning more means earning more than your current annual pay after taxes plus paying for the benefits you and your family need, like health insurance. If your spouse works outside the home, he or she may carry the family benefits leaving you free to earn lots of cash. You will have to save for retirement and pay your own disability insurance even if your spouse can provide the other benefits. Few companies offer spousal retirement or spousal disability coverage.

If you are willing to work during your off hours and not spend money on equipment you do not need, you can work part-time mowing lawns and earn a lot of extra money. You may also be able to eventually leave your job and run your business full-time.

7 Simple Steps For Setting Up A Successful Business

There are basic things one must know before setting up any business in the world- in Africa, America, Asia, Europe and Middle East. These are indispensable facts and truths that must be followed religiously or as Doctor’s prescriptions. Any neglect in any of them lead to failure or many never allows you to start up any biz. These simple steps are outlined as follows:

1. Identify The Needs. Every business provides solution to the needs of their customers. These solutions could be in provision of goods and services. Everyone under the Sun has one need or the other and is looking for solution. And as you identify the needs and provide the solution, you will be rewarded in cash most times, thus you are already in business.

2. Identify Your Passion. There many needs around us, but sometimes difficult to identify. To do this therefore, ask yourself these following questions, what do I love doing? What is your hobby? Singing, baking, serving, teaching, etc. whatever you love doing without stress or much supervision, or much planning is your hobby. There are people that want to enjoy for money, so give it to them and make some money.

3. Training. Training involves learning to know what you love to do more effectively and efficiently using the latest technologies and methods. Training brings out the best in you and sometimes identifies your passion and the needs around you. It is the acquisition of knowledge and wisdom is the right application of knowledge. So training makes you wise. How much training do you have? Get trained today to enjoy tomorrow, scarify your time and money today to earn more tomorrow. Get more training today in whatever field of your endeavor… or neglect it and regret tomorrow. Technologies are changing and improving daily- improve alongside through training. Are you computer literate? Do know that money than half of the world’s money is made via the internet/computer. Ignorant is terrible, get trained today.

4. Capital. This is one of the greatest factors that determine the setting up of any business. Most business could not take off due to lack of it, or could not expand and continue due to inadequacy, and sometimes its surplus leads to lack of proper planning and mismanagement. There are various ways to raise capital to start business listed below: i. Personal savings. ii. Savings and cooperative scheme. iii. Daily contribution and savings scheme (Isusu or Akawo). Iv. Family and friends contributions. V. Loans from banks. Vi. Partnership.

5. Location of the business. The type of biz you want to start will determine its location. The factors that determine its location is but not limited: Nearness to raw materials, Nearness market/customers. A farm biz will not be located at the center of the town but in the village where there are plenty farm land. While an internet/computer biz will be located in the center of the town with internet facilities.

6. Socialization. Every business grows as a result of the product/services and the customers. A business transaction is complete when it gets to the final consumer. Training makes you an expert while socialization links you to your potential customers. Make friends always, have a functional phone line (24/7), an active email account (free), connect to face book and twitter (free), let many know what you do, use bulk sms to advertise your products and services.

7. Honesty and Integrity. Skill and training takes you to the top while honesty and integrity keeps you at the top. One thing is to start a business; another thing is to keep that business. Deliver what you promised on time, never short change anybody. Bad news spreads faster than good news, so be careful and courteous with your customers. Maintain a high level of integrity and be sure to make it. See you at the TOP.

Learn to Tolerate and Compromise

The Straits Times – “Singapore’s Internal Security calls up Christian pastor for insensitive comments” on 9 February 2010

In this year, The Straits Times told a story about a Senior Pastor Rony Tan, from Lighthouse Evangelism, who was called up for an investigation by the Internal Security Department (ISD) after receiving complaints about online video clips that showed him making insensitive remarks about Buddhism when he was interviewing his two church members. When the members, a former Buddhist monk and nun, were sharing their experience as Buddhists, Pastor Tan mocked about Buddhism’s beliefs and practices on reincarnation, karma, nirvana, chanting and meditation. He was making statements like being under the influence of demons, “the blind leading the blind”, and false religion. ISD responded, “Pastor Tan’s comments were highly inappropriate and unacceptable as they trivialised and insulted the beliefs of Buddhists and Taoists. They can also give rise to tension and conflict between the Buddhist/Taoist and Christian communities.”

After realizing his mistakes, Pastor Tan ordered his church to immediately stopped circulation and removed this particular sermon. He also made a public apology for his comments on his website, and wrote this, “… I sincerely apologise for my insensitivity towards the Buddhists and Taoists, and solemnly promise that it will never happen again… to tell my members not only to continue to love souls, but also to respect other beliefs and not to ridicule them in any way, shape or fashion. Let’s put our goal to build a harmonious Singapore a top priority.” In addition, he paid a visit to the leaders of the Buddhist and Taoist communities to give his sincerely apology. Venerable Kwang Sheng, from Phor Kar See Kong Meng San Temple had accepted his apology: “It is good that the authorities have looked at this matter, but this is a matter of national concern. We want to appeal to the public and the authorities to make sure there is no second time… Singapore is a multi-religious, multiracial society. There is no point arguing over who is right and who is wrong” Singapore Buddhist Lodge chairman Lee Bock Guan further emphasized, “Buddhism teaches us to forgive; everybody makes mistakes.”

There are a couple of lessons for us from this incident:

The Impact of Online Media

With the wide usage of internet and various popular social media such as YouTube and blogs, anything that is posted online can be read or watched by thousands or millions of people. This online media is a double-edged sword as the message or information is so accessible by anyone and it can easily arouse tension or disagreements if the content is insensible or inappropriate. The authority can also track back to the source without any difficulty. Therefore, before posting anything, we need to think whether the information should be made available to the public.

Being a Responsible Communicator

No man is an island. Every day we interact with people and our words will influence others in either a positive or negative way. If you are a teacher, pastor, business leader or politician who speaks in front of a large audience, then it is even more important to be conscious and mindful of what you are saying. The general rule is not to discuss about religious, politics and sex. However, when you choose to go into such topic, be prepared to face the consequences (from the opposing views).

Knowledge of Different Cultures/ Religious

This incident clearly indicated that the pastor did not really do his homework and understand about various religious and their history. As different religious have different beliefs and practices, a particular religious practitioner’s acts or behaviours might not be clearly understood by other religious’ believers. Thus it is effortless for anyone to make a judgment without finding out the story or meaning behind a belief/ act and just mock at their religious. By spending time in learning of other cultures or religious, it can broaden our horizons and teach us to be more appreciative to the religious diversity. Our education system can pay a part in providing the knowledge to the people esp. when they are young and receptive.

The Straits Times – “Twin threats of race and religion” on 17 August 2009

In 2009 National Rally, PM Lee Hsien Loong highlighted a tussle between a Malay wedding and a Chinese funeral regarding to the use of void deck premise. There was an elderly who died in 2008 and her family went to set up alter at the void deck of a HDB block before seeking the approval of the Town Council without knowing that the premise had been reserved for a Muslim wedding. Both parties did not want to change their arrangement and this created a tension. Thus the Town Council and the grassroots leaders had to step in to solve the issue and offered to wave charges and help to put up posters to direct their guests to the correct place. Luckily, the Malay family was willing to shift to another nearby void deck even though they had booked the premise first.

According to the statistics collected, such incidents will happen in every 300 funerals. The Town Councils have to handle these cases carefully and either the Malay wedding or the Chinese funeral has to budge. If such cases are not deal with properly, they can become a potential serious racial or religious conflict. One such case can jeopardise the peace and harmony in Singapore. PM Lee reminded us not to take our harmony and cohesion for granted and learn to be sensible and tolerate for religious differences as well as a willingness to give and take. There is no end to potential causes of racial or religious friction in our neighbourhood such as noise from the auction in 7th moon, heavy traffic or parking problems from the Friday prayer or church service and smoke or stray ashes everywhere due to burning of joss sticks.

PM Lee has also outlined four basic rules for religious harmony in another article:

All groups have to exercise tolerance and restraint.
Keep religion separate from politics.
Government must remain secular.
Maintain the common space that all Singaporeans share.

I have learnt that there are still many little clashes that are happening everywhere in Singapore and it is common and natural for us to have conflicts in our lives as they let us understand more about other people’s cultures, religious and beliefs. From each conflict we encounter, we will know ourselves and others better and learn to prevent similar conflicts to occur again. Singapore took years to build the harmony and stability that we are enjoying now. As what PM Lee had said, we must not take things for granted and need to continue to tolerate and compromise. I have also participated in a new initiative with Singapore United on the Community Engagement Programme where youth leaders who are from different religious groups come together for an open faith discussion and going for educational field trips to places like SCDF and Mosque. It is very meaningful and informative.