By Dave Lavinsky
It is common to bump into an entrepreneur hunting for a childcare business plan since this market segment is growing and is highly lucrative. Find one here that focuses on your business strategy and mentions unique points to score above the competition.
Let the plan aim to provide "high quality childcare" to the families with young children. The potential clients can have very high expectations in their definition of ‘high quality childcare.’
So in your child care business plan elaborate that the facility will provide a nurturing environment that encourages the growth of self-esteem It will provide the child an opportunity for an all-round development.
For childcare centers to thrive the plan must position your service uniquely to fight the competition. Let "extra features" form the core of your business strategy. Offer weekend workshops for the family.
This allows parents to interact with children and teachers at the center. These workshops can also publicize your program to potential clients. Keep a teacher on-call duty to cater to the children who will be collected at a later hour.
Medical emergencies, meetings and traffic inevitably delay many clients like doctors or lawyers. They will willingly pay the additional fee and remain loyal. Once a month make Saturday nights available to provide child care to client families.
These extra benefits will win over the enrolled families. There is a wide and expanding market for this service as nuclear families become the rule and an increasing number of women go to work.
Still, your childcare business plan should clearly describe the target market in order to build upon the initial enrollments. Focus on expecting families, infants below twelve months and single parent households.
Alternatively, the bulletin boards at public schools, local shops and businesses are the best tools of advertising. The traditional word-of-mouth publicity helps bring continued business. Your website will also attract business, especially the families that relocate to your area.
The mission of your childcare business plan should be to establish the center, go for a rapid expansion and an aggressive program promotion. Your profit margins will rise with an increase in the licensed capacity.
Since its inception, Growthink Business Plan Consultants has developed over 350 business plans. Growthink clients have collectively raised over $750 million in financing, launched numerous new product and service lines and gained competitive advantage and market share.
Growthink has become the firm of choice for venture capital firms, angel investors, corporations and entrepreneurs in the know. For more information on this topic please visit http://www.growthink.com/businessplan/ or visit our venture capital placement site at Growthink Venture Capital
Thursday, January 31, 2008
Tuesday, January 29, 2008
Building Teams to Self-Manage and Grow
Adapted From: Managing Teams For Dummies
Self-directed teams — sometimes called self-managed teams, empowered work units, or autonomous work teams —function in their truest sense without supervisory authority. Team members are interdependent, but the role of supervisor usually is missing.
A self-directed team is as much a team as any other, but it has a unique management structure — no supervisor. By comparison, a regular work group reports to a supervisor who is part of the group.
In many such cases, the supervisor does much of the same work that the group members do, or he performs a higher level of the overall work that the group must accomplish.
Self-directed teams, on the other hand, report to a manager, but generally no management personnel are part of the team's ongoing and daily operations. The role of manager or supervisor, in the case of a self-directed team, is replaced by all the members of the team.
Together, they plan and execute the work, day in and day out, carrying out the directions set by management above them. It isn't unusual for only one manager to oversee several self-directed teams.
We have liftoff, now where do we go?
Getting started is one big challenge with a self-directed team, but keeping the team moving forward is another. You can do it by remembering to focus on the important elements of the early stages of implementation that are covered in the following sections.
Communicating
Teams meet frequently to plan and carry out their work, and you want to use those face-to-face occasions to provide leadership and direction and not have to rely so much on e-mail messages. Keep in closer contact by being present at occasions like these:
Self-directed teams — sometimes called self-managed teams, empowered work units, or autonomous work teams —function in their truest sense without supervisory authority. Team members are interdependent, but the role of supervisor usually is missing.
A self-directed team is as much a team as any other, but it has a unique management structure — no supervisor. By comparison, a regular work group reports to a supervisor who is part of the group.
In many such cases, the supervisor does much of the same work that the group members do, or he performs a higher level of the overall work that the group must accomplish.
Self-directed teams, on the other hand, report to a manager, but generally no management personnel are part of the team's ongoing and daily operations. The role of manager or supervisor, in the case of a self-directed team, is replaced by all the members of the team.
Together, they plan and execute the work, day in and day out, carrying out the directions set by management above them. It isn't unusual for only one manager to oversee several self-directed teams.
We have liftoff, now where do we go?
Getting started is one big challenge with a self-directed team, but keeping the team moving forward is another. You can do it by remembering to focus on the important elements of the early stages of implementation that are covered in the following sections.
Communicating
Teams meet frequently to plan and carry out their work, and you want to use those face-to-face occasions to provide leadership and direction and not have to rely so much on e-mail messages. Keep in closer contact by being present at occasions like these:
- Regular team meetings with your core group of team leaders who pass on information to the teams
Periodic all-hands meetings at which you bring together all the team members
Occasional drop-in visits with team meetings to stay in touch
Regular MBWA, or Management By Walking Around
MBWA is an effective form of informal communications. You walk around to people's work areas for a few minutes of social chatter. You have the rest of the day to handle business issues, so have a little fun.
MBWA is a communication strategy that makes you a visible leader and enables you to gain a better knowledge of your team members as people and not just as employees.
Establishing training as a regular business practice
Stating your expectations about training and helping your team find the resources that it needs to meet those expectations is a vital part of your job. You can evaluate their success when you evaluate team performance
Expanding team responsibilities one step at a time
Ultimately, a truly self-managed team handles all responsibilities that a work group supervisor would. But a team can't assume all those responsibilities at once.
Team members need time to discover and absorb various supervisory routines into their daily functions, especially administrative matters. When asking a self-directed team to take on new responsibilities, follow these steps to effectively delegate responsibilities:
- Spell out the results that you expect.
- Define the parameters that team members need to work within, especially limitations on time and authority.
- Provide the training and other forms of support that team members need to take on new duties.
- Set up checkpoints for reviewing progress.
- Evaluate the results.
Set new goals.
Maintain ongoing accountability and focus with your self-directed teams by setting the frequency — quarterly, perhaps, but no less than once every six months — with which you plan to evaluate team results versus performance targets.
Requiring the team to make presentations to you as part of this evaluation process really pushes the responsibility level for achieving results to everyone on the team.
You may also want the team to produce an interim report of its performance, say, monthly, much as a supervisor is often required to do.
After a team evaluates its progress, with business direction provided by you, have team members reset their performance goals for the next time period and the plans on how they'll achieve those goals.
That, after all, is why they're self-managed teams. Hold them accountable for achieving results.
Developing systems to fit the team structure
When venturing into self-directed teams, you often discover that the systems and policies of your organization don't always make a good match with the new team structure.
For example, when company policy says that only someone in supervisory authority can sign off on vacations, employee timesheets, and purchase requisitions, you need to work within your company structure to modify these systems.
Administrative areas that may require change include quality assurance practices, vendor relations, compensation, staff administration, work schedules, employee recognition, and performance reviews.
You don't want your self-managed teams constantly colliding with internal obstacles when they are charged with managing those same functions. You need to serve as a barrier buster, helping your teams grow in managing their own performances.
Continuously addressing issues and making improvements
When observing how your self-managed teams are progressing — from what's working well to what isn't — you have an opportunity to help them get better at developing solutions.
As much as you possibly can, delegate the development of solutions and periodic review of progress as a means of helping them maintain their accountability. Whenever people don't know what to do, show them and coach them, but seldom volunteer solutions yourself.
Whenever you want a team to become self-managing, you want team members taking responsibility for addressing issues and making their solutions work.
Sunday, January 27, 2008
For Goodness Sake, Shake It Up
Every day you open your doors, and then close them. Open. Close. And everything in middle starts to blur together as what you do between opening the doors and closing them. Little wonder why we lapse into complacency and let our business go stale.
Well, grab your business by the ears and shake it up! There’s no room at the top for the complacent and uninspired. It’s all about stepping over the rut, not falling in it. So take our list, grab a stepladder, and start shaking things up.
Facility Facelifts — Regularly change how your place looks. Move a mirror, or paint a wall. Even subtle changes can make a difference in the feel of the place. Guests will appreciate the scenery change, and so will the staff.
Sales Contests — Light a fire under your staff with regular sales contests. Base it on something easily tracked, like weekly sales, highest ticket average, or most specials sold in a week. Then acknowledge the winner at a staff meeting and make the award truly desirable.
Periodic Profit Sharing — At the end of a good month, give your staff unexpected bonuses. Opening an envelope and finding cash builds good will and is a great motivator. Don’t forget anyone on your staff, including bussers and dishwashers. If they contributed, they should share in the benefits.
Featured Events — Don’t call your “special of the day” a special if it’s not. Coming up with fresh ideas every day is challenging, but featuring dull, boring specials is worse than featuring nothing at all. Get your best people on it and plan a month in advance.
Change Your Uniform — Give your staff a new look. Wearing the same clothes to work gets old, and takes a toll on staff morale. Put a bounce in their step with a uniform change. Better yet, form an employee committee and let them choose their new look.
Random Acts of Generosity — What if you periodically bought people in your establishment their dinners? Or sent a bottle of wine to a table compliments of the management? Or bought a party a round of drinks? There’d be a massive outbreak of goodwill.
Give Yourself a “Retro” — Change decades now and again, and go “retro.” It’s a blast for the staff, a novel change for the clientele, and a boost for business. Pick a decade and work with it - music, costumes, vintage drinks, period decor, etc. Have fun.
What’s Your Sign? — Give your business a slightly new public image by changing your exterior signs. Swap out the neon beer signs in your windows. Change the color of the exterior trim. Spruce up your curb appeal.
Throw Yourself a Party — Why not throw a “Christmas in July” party for your customers? Or a beach party in January? Any excuse to have a celebration helps break-up the week for both the clientele and staff, and increases sales in the process.
Well, grab your business by the ears and shake it up! There’s no room at the top for the complacent and uninspired. It’s all about stepping over the rut, not falling in it. So take our list, grab a stepladder, and start shaking things up.
Facility Facelifts — Regularly change how your place looks. Move a mirror, or paint a wall. Even subtle changes can make a difference in the feel of the place. Guests will appreciate the scenery change, and so will the staff.
Sales Contests — Light a fire under your staff with regular sales contests. Base it on something easily tracked, like weekly sales, highest ticket average, or most specials sold in a week. Then acknowledge the winner at a staff meeting and make the award truly desirable.
Periodic Profit Sharing — At the end of a good month, give your staff unexpected bonuses. Opening an envelope and finding cash builds good will and is a great motivator. Don’t forget anyone on your staff, including bussers and dishwashers. If they contributed, they should share in the benefits.
Featured Events — Don’t call your “special of the day” a special if it’s not. Coming up with fresh ideas every day is challenging, but featuring dull, boring specials is worse than featuring nothing at all. Get your best people on it and plan a month in advance.
Change Your Uniform — Give your staff a new look. Wearing the same clothes to work gets old, and takes a toll on staff morale. Put a bounce in their step with a uniform change. Better yet, form an employee committee and let them choose their new look.
Random Acts of Generosity — What if you periodically bought people in your establishment their dinners? Or sent a bottle of wine to a table compliments of the management? Or bought a party a round of drinks? There’d be a massive outbreak of goodwill.
Give Yourself a “Retro” — Change decades now and again, and go “retro.” It’s a blast for the staff, a novel change for the clientele, and a boost for business. Pick a decade and work with it - music, costumes, vintage drinks, period decor, etc. Have fun.
What’s Your Sign? — Give your business a slightly new public image by changing your exterior signs. Swap out the neon beer signs in your windows. Change the color of the exterior trim. Spruce up your curb appeal.
Throw Yourself a Party — Why not throw a “Christmas in July” party for your customers? Or a beach party in January? Any excuse to have a celebration helps break-up the week for both the clientele and staff, and increases sales in the process.
Wednesday, January 23, 2008
How Is Lack Formed?
From http://www.millionaireinside.com/
In my last article we explored the ways the Law of Attraction works to create your life, including your financial situation. You now know that your thoughts, emotions and beliefs have the power to attract a more abundant lifestyle – or more lack.
What is lack and how does it appear in your life, anyway?Lack is the condition of not having something. In other words, lack is the ABSENCE of something. But the absence of exactly “what” may surprise you.
Lack is not the absence of money, or health, or love. Those are just the symptoms of lack.
At its core, lack is simply the blockage of ENERGY. EVERYTHING IS ENERGY! When you experience lack of any kind, you are cutting off the natural flow of energy through your life.
This can affect much more than your financial situation. In fact, you may notice that when you lack one thing, you usually lack other things too.
Your relationships may be more strained or distant; you may experience poor health, lower energy, financial difficulties, or even appliance or vehicle breakdowns. None of this is a coincidence!
When you block the flow of abundance, it can manifest in many different ways.
How does this blockage get started? By focusing on what you do not have, or what you do not want.
Though it sounds like a bad joke, lack is formed when you focus continuously on lack!
Every time you worry about your financial situation, agonize over a shortage of money, or feel stressed about your bills, you attract the experience of lack into your life.
The more you think about things and experiences you don’t have, the more you’ll attract an absence or blockage of the things you want. This creates a nasty cycle that you can remain stuck in for years!
Focus on lack, create more lack, which makes you focus even more on lack, which creates even more lack . . . and on it goes indefinitely! It gets even worse too, because focusing obsessively on the lack in one area of your life can attract lack into other (even unrelated) areas of your life too.
Next thing you know your entire life is in a major funk and you have no idea how it got so bad.
If you’re stuck in one of these funks right now, don’t worry!
Turning it around is a simple matter of identifying the things you’re doing that are creating more lack, and learning how to focus more on abundance – which we will cover in detail in the next few installments of this course.
For starters, did you know that there are very specific thoughts and emotions that attract lack? It’s true! I’ll be revealing them in my next article.
In my last article we explored the ways the Law of Attraction works to create your life, including your financial situation. You now know that your thoughts, emotions and beliefs have the power to attract a more abundant lifestyle – or more lack.
What is lack and how does it appear in your life, anyway?Lack is the condition of not having something. In other words, lack is the ABSENCE of something. But the absence of exactly “what” may surprise you.
Lack is not the absence of money, or health, or love. Those are just the symptoms of lack.
At its core, lack is simply the blockage of ENERGY. EVERYTHING IS ENERGY! When you experience lack of any kind, you are cutting off the natural flow of energy through your life.
This can affect much more than your financial situation. In fact, you may notice that when you lack one thing, you usually lack other things too.
Your relationships may be more strained or distant; you may experience poor health, lower energy, financial difficulties, or even appliance or vehicle breakdowns. None of this is a coincidence!
When you block the flow of abundance, it can manifest in many different ways.
How does this blockage get started? By focusing on what you do not have, or what you do not want.
Though it sounds like a bad joke, lack is formed when you focus continuously on lack!
Every time you worry about your financial situation, agonize over a shortage of money, or feel stressed about your bills, you attract the experience of lack into your life.
The more you think about things and experiences you don’t have, the more you’ll attract an absence or blockage of the things you want. This creates a nasty cycle that you can remain stuck in for years!
Focus on lack, create more lack, which makes you focus even more on lack, which creates even more lack . . . and on it goes indefinitely! It gets even worse too, because focusing obsessively on the lack in one area of your life can attract lack into other (even unrelated) areas of your life too.
Next thing you know your entire life is in a major funk and you have no idea how it got so bad.
If you’re stuck in one of these funks right now, don’t worry!
Turning it around is a simple matter of identifying the things you’re doing that are creating more lack, and learning how to focus more on abundance – which we will cover in detail in the next few installments of this course.
For starters, did you know that there are very specific thoughts and emotions that attract lack? It’s true! I’ll be revealing them in my next article.
Monday, January 21, 2008
The New You For The New Year (Part 1 of 4):
From LifeSkill Institute, Inc
Face The Facts
Every January many of us make a big deal about New Year’s Resolutions. If we wait until the New Year to start thinking about how we want it to be different from the last year, then we put ourselves at a distinct disadvantage.
One of the basic traits of truly successful people is that they have clearly defined goals and objectives and a written plan of action in advance of the New Year.
Over these four articles we shall together look at what must be done to make this year much better than last year. The first step is to assess your present situation -- review and evaluate your performance over the last year.
1. Review your wins and lessons - your victories and apparent defeats.
Take a blank sheet of paper, divide it in half and draws a cross. On the left side of the vertical line, above the horizontal line, write the word “victories.” Below the horizontal line, list your victories - the things that worked and the accomplishments made over the last year.
On the right side of the vertical line, above the horizontal line, write the word “lessons.” Below the horizontal line, list your lessons - apparent defeats, that which did not work. Ben Franklin, one of the founding fathers of this country, would compare the total the number of “victories” with the total number of “lessons.”
If there were more “victories,” it was a good year. He would continue what he was doing, with refinement and improvements. If there were more “lessons,” he would make significant changes from whatever he did last year, so that this year would yield different results.
Use this method to examine your present situation - where you are in your life right now. You can then see the results to-date of your thoughts, habits, and associations. Are you happy with what you see? With what you feel? With the condition of yourself and your family?
Did you have more “victories” or “lessons?” Will you strive to do better this year, or glide through it with more of the same? Insanity is doing the same things this year that you did last year - and expecting a different result.
We must wake up to the reality we have created for ourselves and face it. Take responsibility for that reality - good, bad, or indifferent. We can only change those things that we take personal responsibility for creating.
2. Ask yourself, “What were my goals for last year, when I started out last January?”
If you didn’t have any, or if you can’t remember what they were, then there was nothing to aim for, and nothing to work at. Wherever you are right now, whatever your situation, is strongly affected by your lack of direction and goals.
Life is like a garden. You must affirmatively “plant flowers” - have positive goals and objectives. You must also actively “pull up the weeds” - eliminate negative thoughts, habits, and people.
If you had no clearly defined goals when last year started, you gave the weeds a chance to grow, and grow they will - that is their nature.
3. Face the facts. You are where you are right now because of your thoughts, your emotions and feelings, your actions, and your associations.
Don’t blame anyone or anybody for your present condition or circumstances. Where you are and what you have is the result of who you are and what you have done. If this New Year is to be better than last year, you must get better in every respect.
You must be clearer and more effective than ever before. Affirm each day: “Everyday, in everyway, I am getting better and better.”
Face The Facts
Every January many of us make a big deal about New Year’s Resolutions. If we wait until the New Year to start thinking about how we want it to be different from the last year, then we put ourselves at a distinct disadvantage.
One of the basic traits of truly successful people is that they have clearly defined goals and objectives and a written plan of action in advance of the New Year.
Over these four articles we shall together look at what must be done to make this year much better than last year. The first step is to assess your present situation -- review and evaluate your performance over the last year.
1. Review your wins and lessons - your victories and apparent defeats.
Take a blank sheet of paper, divide it in half and draws a cross. On the left side of the vertical line, above the horizontal line, write the word “victories.” Below the horizontal line, list your victories - the things that worked and the accomplishments made over the last year.
On the right side of the vertical line, above the horizontal line, write the word “lessons.” Below the horizontal line, list your lessons - apparent defeats, that which did not work. Ben Franklin, one of the founding fathers of this country, would compare the total the number of “victories” with the total number of “lessons.”
If there were more “victories,” it was a good year. He would continue what he was doing, with refinement and improvements. If there were more “lessons,” he would make significant changes from whatever he did last year, so that this year would yield different results.
Use this method to examine your present situation - where you are in your life right now. You can then see the results to-date of your thoughts, habits, and associations. Are you happy with what you see? With what you feel? With the condition of yourself and your family?
Did you have more “victories” or “lessons?” Will you strive to do better this year, or glide through it with more of the same? Insanity is doing the same things this year that you did last year - and expecting a different result.
We must wake up to the reality we have created for ourselves and face it. Take responsibility for that reality - good, bad, or indifferent. We can only change those things that we take personal responsibility for creating.
2. Ask yourself, “What were my goals for last year, when I started out last January?”
If you didn’t have any, or if you can’t remember what they were, then there was nothing to aim for, and nothing to work at. Wherever you are right now, whatever your situation, is strongly affected by your lack of direction and goals.
Life is like a garden. You must affirmatively “plant flowers” - have positive goals and objectives. You must also actively “pull up the weeds” - eliminate negative thoughts, habits, and people.
If you had no clearly defined goals when last year started, you gave the weeds a chance to grow, and grow they will - that is their nature.
3. Face the facts. You are where you are right now because of your thoughts, your emotions and feelings, your actions, and your associations.
Don’t blame anyone or anybody for your present condition or circumstances. Where you are and what you have is the result of who you are and what you have done. If this New Year is to be better than last year, you must get better in every respect.
You must be clearer and more effective than ever before. Affirm each day: “Everyday, in everyway, I am getting better and better.”
Sunday, January 13, 2008
Classifications of Tequila and Cognac Plus "The Cultured Margarita"
- a lesson from American Professional Bartending Schools
There are two basic designations of tequila. Agave is one, and mixtos is the other. If 100% of the alcohol comes from agave then it is marked on the label of the bottle: 100% puro de agave.
If 51% percent of the alcohol comes from agave and 49% from other sources then the tequila is referred to as mixtos.There are four categories of tequila. Plata or silver or Blanco as white are colorless unaged tequilas with a lively clean taste.
They can be either agave or mixtos and their flavors blend well into fruit flavored based drinks. This makes them excellent for mixed tequila drinks.Jovan or gold tequila. This tequila is aged in oak tanks for less than 60 days.
During this aging period, caramel color and flavor is added.Reposado. This is a tequila that is aged in wooden tanks or barrels of oak for at least two months. This type of tequila has a smoothness that is influenced with a slight oak flavor.Anejo.
This type of tequila is aged in oak tanks or barrels for a minimum of 12 months. Better quality anejos are aged from 18 months to three years. These are usually mixtos and those that are aged up to four years are all agave.
Recipe: Toma! Margarita!, The Cultured Margarita
2 ounces Anego Tequila2 ounces CointreauJuice of one half fresh limeJuice of one half fresh lemonSaltShake all with iceStrain into a chilled martini glassRim with salt
There are two basic designations of tequila. Agave is one, and mixtos is the other. If 100% of the alcohol comes from agave then it is marked on the label of the bottle: 100% puro de agave.
If 51% percent of the alcohol comes from agave and 49% from other sources then the tequila is referred to as mixtos.There are four categories of tequila. Plata or silver or Blanco as white are colorless unaged tequilas with a lively clean taste.
They can be either agave or mixtos and their flavors blend well into fruit flavored based drinks. This makes them excellent for mixed tequila drinks.Jovan or gold tequila. This tequila is aged in oak tanks for less than 60 days.
During this aging period, caramel color and flavor is added.Reposado. This is a tequila that is aged in wooden tanks or barrels of oak for at least two months. This type of tequila has a smoothness that is influenced with a slight oak flavor.Anejo.
This type of tequila is aged in oak tanks or barrels for a minimum of 12 months. Better quality anejos are aged from 18 months to three years. These are usually mixtos and those that are aged up to four years are all agave.
Recipe: Toma! Margarita!, The Cultured Margarita
2 ounces Anego Tequila2 ounces CointreauJuice of one half fresh limeJuice of one half fresh lemonSaltShake all with iceStrain into a chilled martini glassRim with salt
-----------------------------
Students often ask what is Cognac. Cognac is perhaps the most famous Brandy in the world produced in Charente and Charente Maritime areas of France's Cognac region. Cognac is double distilled and aged in barrels made from Limousin or Troncais oak. Almost all Cognacs are a blend of several vintages.
Classifications of Cognac
V.S. - Very Special - Aged for about 2 years.
V.S.P. - Verry Special Pale - Aged usually about 4 years.
V.S.O.P. - Verry Special Old Pale - Aged four to fifteen years.
X.O. - Extra Old - Aged six to twenty years.
Saturday, January 05, 2008
Buy A Business Without Going Broke
By Art Hamel
Controversial as it sounds, you don't need a lot of special training or knowledge to analyze a business you want to buy. You don't need any special degrees or training. And you don't need to empty your bank account.
One of the things you may want to invest a little cash in (although not a lot), however, is when it comes to analyzing the inventory.
In fact, I heartily recommend you use the outside inventory companies. They’re listed in the Yellow Pages under “I”.
Why do I want you to use an outside inventory company?
Four reasons:
1.) You’re going to find that they’re very good people. They are very professional and they are knowledgeable in the area of the inventory that you are buying or you’re selling. You’re also going to find the expense is not that high. Usually they're pretty cheap.
2.) You’re also going to find generally that they’re bonded. That means if a mistake is made by these companies in handling the inventory or appraising the inventory or valuing the inventory during a transaction, they’re good for it.
3.) We normally find that buyers and sellers end up arguing and fighting and kill a transaction if they’re together any more than 40 seconds. (No joke!)
4.) Perhaps most important of all: The average buyer of a business is not as knowledgeable in the stock room inventory as the seller, and this then puts you on even footing with the seller. It gives you a chance in the transaction.
People find it shocking when I say buying and analyzing a business isn't rocket science. And most of the preliminary things really can be done cheap or free. But there are times when it's better to call in the professionals. And analyzing the inventory is one of those times.
Arthur B. Hamel has bought over 200 businesses in the past 50 years, and is a well- known author, consultant, investor, business owner, and dynamic lecturer who has shared the stage with such business greats as Robert Allen of "No Money Down" fame.
For the past 20 years Art has taught thousands of people around the world -- even so-called "little guys" with no formal education or money -- how to quickly and easily buy large, multi-million dollar businesses with no credit, banks or prior business experience.
He has recently decided to share his unique business-buying secrets and tactics free of charge at: http://arthurhamel.com
Controversial as it sounds, you don't need a lot of special training or knowledge to analyze a business you want to buy. You don't need any special degrees or training. And you don't need to empty your bank account.
One of the things you may want to invest a little cash in (although not a lot), however, is when it comes to analyzing the inventory.
In fact, I heartily recommend you use the outside inventory companies. They’re listed in the Yellow Pages under “I”.
Why do I want you to use an outside inventory company?
Four reasons:
1.) You’re going to find that they’re very good people. They are very professional and they are knowledgeable in the area of the inventory that you are buying or you’re selling. You’re also going to find the expense is not that high. Usually they're pretty cheap.
2.) You’re also going to find generally that they’re bonded. That means if a mistake is made by these companies in handling the inventory or appraising the inventory or valuing the inventory during a transaction, they’re good for it.
3.) We normally find that buyers and sellers end up arguing and fighting and kill a transaction if they’re together any more than 40 seconds. (No joke!)
4.) Perhaps most important of all: The average buyer of a business is not as knowledgeable in the stock room inventory as the seller, and this then puts you on even footing with the seller. It gives you a chance in the transaction.
People find it shocking when I say buying and analyzing a business isn't rocket science. And most of the preliminary things really can be done cheap or free. But there are times when it's better to call in the professionals. And analyzing the inventory is one of those times.
Arthur B. Hamel has bought over 200 businesses in the past 50 years, and is a well- known author, consultant, investor, business owner, and dynamic lecturer who has shared the stage with such business greats as Robert Allen of "No Money Down" fame.
For the past 20 years Art has taught thousands of people around the world -- even so-called "little guys" with no formal education or money -- how to quickly and easily buy large, multi-million dollar businesses with no credit, banks or prior business experience.
He has recently decided to share his unique business-buying secrets and tactics free of charge at: http://arthurhamel.com
Tuesday, January 01, 2008
Financial Independance and Retirement, Realizing The Difference
By Martin Thomas
Wealth creation can be an often confusing topic and one of the reason's is our percetption of the terms used in the financial management arena. One of the most misunderstood concepts is the reference to retirement.
When we think of retirement, we think of an old person, some time in the future, preparing to live their days out with nothing to do and no money to do it with. Retirement is another way to say financial independence.
These terms are interchangeable but they have greatly differing perceptions in our minds.
Financial independence is often seen as some young guy with a hot business making money hand over fist.
Words are incredibly important in coloring our perceptions. Our perceptions lead our beliefs and therefore our actions.
This short article serves to enlighten readers about the distinction between retirement and financial independence. To fully understand what I am speaking about, I want to ask you which you prefer.
Do you want to be that future old person, living on welfare and having all the time in the world to do nothing. Or do you want to be the young person, getting their money now and living life to the full without ever a concern about money.
Financial independence and retirement are both the same thing. They mean the individual has a sufficient enough passive income, to live a good lifestyle without needing to work for a living. This can be in the form of a very large nest egg delivering bank interest returns.
Or it can mean a business has been built utilizing systems so the business runs itself without the operator needing to work in it. Or it can mean living on welfare. Here is the point. When you talk about retiring, your mind instantly thinks government subsidized life style.
It is about working a long time, waiting until you get old and then claiming your right to receive your dues from the government. Financial independence is different. Your mind immediately thinks, working smart not hard.
It means becoming the originator and the source of a good business or investment activities that make you rich now. Not living off welfare in 40 years time.
Word's are important and using the right words when you think about the future will dictate your actions. Retirement is about waiting. Financial independence is about action now.
If you would like to discover a verified list of Million Dollar Corporations offering you their products at 75% commission to you. Click either link to learn HOW you will begin compounding your capital towards your first Million Dollars. click here to learn about the EasyCorporateMoney.com program
http://www.easycorporatemoney.com
Wealth creation can be an often confusing topic and one of the reason's is our percetption of the terms used in the financial management arena. One of the most misunderstood concepts is the reference to retirement.
When we think of retirement, we think of an old person, some time in the future, preparing to live their days out with nothing to do and no money to do it with. Retirement is another way to say financial independence.
These terms are interchangeable but they have greatly differing perceptions in our minds.
Financial independence is often seen as some young guy with a hot business making money hand over fist.
Words are incredibly important in coloring our perceptions. Our perceptions lead our beliefs and therefore our actions.
This short article serves to enlighten readers about the distinction between retirement and financial independence. To fully understand what I am speaking about, I want to ask you which you prefer.
Do you want to be that future old person, living on welfare and having all the time in the world to do nothing. Or do you want to be the young person, getting their money now and living life to the full without ever a concern about money.
Financial independence and retirement are both the same thing. They mean the individual has a sufficient enough passive income, to live a good lifestyle without needing to work for a living. This can be in the form of a very large nest egg delivering bank interest returns.
Or it can mean a business has been built utilizing systems so the business runs itself without the operator needing to work in it. Or it can mean living on welfare. Here is the point. When you talk about retiring, your mind instantly thinks government subsidized life style.
It is about working a long time, waiting until you get old and then claiming your right to receive your dues from the government. Financial independence is different. Your mind immediately thinks, working smart not hard.
It means becoming the originator and the source of a good business or investment activities that make you rich now. Not living off welfare in 40 years time.
Word's are important and using the right words when you think about the future will dictate your actions. Retirement is about waiting. Financial independence is about action now.
If you would like to discover a verified list of Million Dollar Corporations offering you their products at 75% commission to you. Click either link to learn HOW you will begin compounding your capital towards your first Million Dollars. click here to learn about the EasyCorporateMoney.com program
http://www.easycorporatemoney.com
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