Monday, September 3, 2007

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Fart To Cash - THAT's A Very Creative Business Idea

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http://www.flat-d.com/
Brian Conant stood alongside his fellow National Guardsmen during a training session about eight years ago in Hawaii. He was wearing a heavy chemical warfare suit lined with charcoal.
"Any time I expelled gas in the suit, I realized nobody could smell it," Conant, 48, says. "It was amazing."
According to the American College of Gastroenterology, 58 million Americans suffer from one or more medical disorders that cause excessive gas. To treat it, doctors usually recommend a change in diet. Sometimes they recommend medication, such as Gas-X or Bean-O, which alters the bacteria that may be causing the foul odor. But with Conant's invention, the Flatulence Deodorizer, also known as Flat-D, there is an alternative way to limit the embarrassment.
The long, narrow washable pad, lined thinly with charcoal, absorbs chemicals, including hydrogen sulfide, a byproduct of the bacteria that causes odorous gas. The pad, at $12.95, curves with the contour of the body, and one size fits most.
For those who fall outside the "most" category, Conant has developed the "overpad," partly due to the increasing number of phone calls from those who have just undergone gastric bypass surgery. "Can you guess our best month?" asks marketing director Frank Morosky. "January, because people have made New Year's resolutions to eat healthier. And, it turns out, healthy foods like broccoli, beans and whole grains cause gas."


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Schools Out, Summers In!

A Few Moments in the Limelight Can Boost a Small Business
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As young student entrepreneurs, the summer season is the time to get down to business! That also means it is money making time!

Here are a couple tips for business success this summer:

Make a Plan
Without a plan of what you want to do, you will not be able to accomplish your goals for the next few months. Take some time and figure out what you want to do (your goals) and put a timeline together. Many entrepreneurs need deadlines to be able to finish something, so if you want to redesign your website, put a launch date with it; if you want to gain more clients, set deadlines.

Stick To The Plan

There is no use in making a plan if you are not going to stick to it. This is pretty simple, so I won’t spend time dwelling on the importance of it.

Find a Balance
Find a balance between your business ventures and your life (family, friends, fun, etc). It is important for you to realize that if you work in corporate American after you leave college, you may get no more than 2 weeks of vacation a year, so enjoy your summer and vacation time while you have it and do stuff you enjoy – hanging out with friends and having fun, spending time with family, etc.

Keep Records
Be sure to keep records of what you do with your business. Keep track of all your expenses and revenues, whether that is in excel or through bookkeeping software. Keeping track of your financials is not only important for your business if you are officially registered with your state, but it is important to also help you gauge how you are doing on reaching your goals.

Besides your financials, keep track of your clients and conversations you have with them, the work you may be doing, or any developments you are making. All of these will help you see how you are progressing on reaching your goals and having success over the summer.

Just be sure to have fun no matter what you are working on this summer. If you can have fun, love what you are doing, and find a balance, you will be successful! Keep up the good work and be sure to share your successes with everyone else!

What are your goals for the summer?


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How To Build A Startup In 72 Hours

The Great Lesson Of A Dead Copywriter
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http://www.vosnap.com/

Last weekend in Boulder, Colorado, a group of about 70 or so entrepeneurs, investors, software developers, Web designers and marketing geniuses, plus at least one massage therapist, got together with an audacious goal: create and launch a new online business in 72 hours.

Conceived by 23-year-old graphic designer Andrew Hyde, Startup Weekend was an experiment in company creation and an attempt to set the land-speed record for entrepreneurialism.

In marathon small-group sessions punctuated by hourly meetings (and 90-second yoga breaks), the flash entrepeneurs winnowed a group of 10 business ideas down to the three and then chose one: VoSnap, an online voting tool that “facilitates group decision making quickly and easily” by allowing boards of directors, business colleagues, knitting clubs to cast votes and share opinions immediately using a laptop computer, a mobile phone, or any other connected device.

Exhausting just to read, the Startup Weekend minute-by-minute blog is a look inside the sausage factory, from the early consensus on the initial group of business ideas, to “Legal has incorporated the company—it’s real now” at 1:50 a.m. on Sunday, to boos and applause from the punch-drunk crowd, to business-building decisions made in minutes instead of weeks.

The launch of VoSnap.com was supposed to happen by midnight Sunday evening; unfortunately at 3 a.m. on Monday, the small core of developers still at their screens “were ready to launch *something*” reports David Cohen, one of the instigators of the weekend, “but were crippled by the timing and the disbanding of the group. Nobody had the right passwords to the production servers, or whatever. It didn’t get done.”

[Via - Dane Carlson Blog


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How to Delegate Effectively

The Biggest Secret To Successful Copywriting There Is
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Many small-business owners believe they can save time by telling their employees both what to do and how to do it. After all, in most cases they initially had to do all of the jobs now held by their employees, so it makes sense to save them the effort of trying to figure things out for themselves…right?

Wrong. Delegation is a better approach, because it launches employees into effective, independent action and saves time and resources in the long run. Each situation and assignment is unique, but there are three simple yet powerful steps that you can take to delegate more effectively:

1. Understand whether you are making a request or issuing a command. A request allows the person to say, 'No, thank you,' whereas a command is not optional.

2. Be sure to make your request or command clear by including the following points:

The task you want done.
The reason it needs to be done.
When it needs to be done.
What resources (people, dollars, technology) you are making available for its completion.
What you expect the final product to look like.
How you will make yourself available to answer any questions.
An agreement on a midpoint check-in.

Faulty assumptions in any of these areas can result in problems and delays.

3. Don't skip your midpoint check-in. If, at that point, you find the person or team way off base, you may be tempted to micro manage the remainder of the project or task. Don't. Instead, reassess whether you made a crystal clear request and whether your people are capable and motivated. If you need to clarify your task then do so. If your people are not capable and motivated, then reassign the task.

Delegating effectively helps you make the most of your resources, allows for greater overall productivity, and launches your employees into effective, independent action.

David Peck
Founder
Leadership Unleashed
San Francisco, Calif.

From BusinessWeek.com.



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Don't Let Tax Season Tax You

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Are you frantically trying to figure out how to file your new company's business taxes for the first time? Has your company expanded and left you confused about which deductions you should take? If so, it may be time to get help from a tax professional so you can get back to doing what you do best--running your business.

Eva Rosenberg, Enrolled Agent, publisher of TaxMama.com and author of Small Business Taxes Made Easy, says small-business owners shouldn't give tax preparation a second thought. "Nobody in business for themselves should ever be doing their own taxes," Rosenberg says. "There's no way a business owner can anticipate all the problems that may arise." After more than 25 years of helping people file tax returns, Rosenberg has found that small-business owners who do their own taxes often make so many errors they get audited.

Aside from making errors, attempting to file your own tax returns can also result in added stress. Dr. Taffy Wagner, owner of JTW Publishing in Denver and several other companies, found in her second year of business that she simply couldn't handle the pressure of filing her personal taxes and those of two companies, in addition to maintaining a household. Wagner ended up hiring someone to help make sure she didn't miss any important deductions. "It just wasn't worth the stress of trying to do it all myself," Wagner says.

At this late juncture, if you're a small-business owner and haven't already compiled your taxes or met with a tax professional, the pros say your best bet is to file an extension immediately. Shannon Nash, tax attorney and owner of Nash Management Group in Sherman Oaks, California, says nobody has an excuse for filing late. "Get an extension right away," she advises. "They're much easier to file these days than they used to be. Don't try to rush and get your taxes done at this point; it's not worth the risk of being late."

If you've determined you need extra help, what should you look for in a tax guru? Josh Frey, president of Washington-based On Sale Promos, went through seven accountants until he finally got it right. Frey advises, "Find one person or one firm who's familiar to you and makes you feel comfortable. The best firms to work with are the ones that allow you to work directly with the person you're hiring." Frey found that smaller firms were more focused on his needs and, in general, respected him more as a small-business owner.

Rosenberg stresses the importance of selecting a professional who knows your industry. "Do your homework. Get involved with professional societies and ask people in your niche who've been doing business for five years or more and are making a profit who they go to for tax help. Chances are they're working with a tax planner who knows their stuff," she says.

There's also the issue of whether to use tax-filing software. Nash says popular software programs like TurboTax aren't necessarily good for small business owners. "If you're trying to use the TurboTax business edition, you better know what you're doing," she says. "Otherwise, you'll miss out on tons of deductions."

Keep in mind it's never too early to start planning for next year. In fact, you should be bookkeeping and tracking finances throughout the year. Nash advises her clients to start tax preparations in the fall and sends them a mock tax return in November. That way, they can start planning financially if they find out they'll most likely owe taxes. "2006 is gone, so make life easier for 2007," Nash says. "You can start now."

Five Signs It's Time to Get Help from a Tax Professional
Tax attorney Shannon Nash says to seek assistance if you find yourself in any of the following situations:

  • You don't know which deductions you should be taking as a small-business owner.
  • You're finding yourself stressed and overwhelmed when trying to file your business taxes.
  • You have significant capital gains from stocks, selling a business or commercial real estate.
  • You have income from several sources, such as consulting, royalties, rental income, interests in businesses, or stocks and bonds.
  • You earn money in both the United States and another country.

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Top Five Places for Small Business Networking

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Networking. Does the word strike fear into your heart, or does it excite you with its possibilities?

Let’s face it, it doesn’t matter if you have the world’s best widget at the lowest possible price. If nobody knows about it, your business won't be successful. That's why networking is so important.

And it doesn't have to be painful, as long as you know where to network. Here are five of the best networking organizations designed to benefit the small business owner.

1) Business Networks International (BNI)

If you're really serious about building your business, BNI is an excellent investment of time and money.

Primarily devoted to referral exchange, BNI provides members with the opportunity to share ideas, contacts and networking tools. A strong advocate of word-of-mouth advertising, BNI promotes marketing strategies for its members via networking opportunities.

BNI groups work like this: Each group is small, typically about 20 people. Only one person from each type of business is allowed in the group. For example, one web designer, one dentist, one heavy equipment operator.

BNI members get a binder which they fill with a stack of business cards from each of their group colleagues. As each member goes about their day, everytime they hear of an opportunity for a referral to one of their BNI colleagues they whip out their binder and make a recommendation for that person's service.

Belonging to BNI is like having 20 public relations people working for you.

BNI groups usually meet once a week, often at a breakfast meeting. They exchange updates about their businesses, and get support from one another on what's going on locally that could turn into business.

Membership fees are quite hefty but if you participate fully you'll get your fee back many times over in new business. To find a local BNI group, go to BNI.com and click the "Find a local chapter" link. There's also a free networking newsletter that you can subscribe to.

2) Chamber of Commerce

Sometimes referred to as a Board of Trade, the Chamber of Commerce is one of the more universally accepted business networks. Primarily concerned with business at a local level, Chamber of Commerce members work hard to enhance business, both large and small, in their local area.

Some Chambers of Commerce, especially in smaller centers, operate in conjunction with economic development agencies and tourism bureaus. And because it is an ardent and articulate advocate to all levels of government for small businesses, the Chamber of Commerce is often referred to as the voice of small business.

Membership fees vary but are often offset by discounts and other benefits. Joining your local chapter is as easy as looking in the phone book or dropping in to the Chamber of Commerce office.


3) Industry Trade Associations

Trade associations promote their particular industry through advertising, educational seminars, publishing, conferences, trade shows (and sometimes political lobbying). Primarily non-profit organizations, trade associations are governed by a Board of Directors, made up of members who must adhere to a set of specific, agreed upon bylaws.

Members of industry trade groups strive to project a positive public image while advocating popular public opinion of their markets. Membership fees vary according to Industry. Type your industry + trade association into any Internet search engine to get connected.

4) Toastmasters

When most people think of Toastmasters, they think public speaking. Although this is their main mandate, there are additional networking benefits to becoming a member of this group.

Toastmasters is also recognized as a leadership building tool, so the people you will meet in your local Toastmasters group are great business networking contacts.

Toastmasters provides a variety of communication tools that promote spontaneity in both thoughts and actions. It is also designed to provide its members with performance improvements guaranteed to hone leadership skills, build confidence and improve self-image.

Members are encouraged to practice communication skills by learning to speak eloquently and without fear while utilizing listening skills in order to recognize and react to another speaker’s body language - thus gaining a deeper insight and understanding of their unspoken needs. In business, this knowledge is often worth its weight in gold.

Chapters of Toastmasters are available all over the United States and Canada. The cost is generally around $20 to join with monthly fees starting at about $27. Additional information can be found at Toastmasters.org.

5) On-Line Networking Groups

There are tons of on-line networking groups for small business. The trick is to find one that is useful and active. A good place to start is MerchantCircle.com, which provides members with the tools and expertise required to develop trade with other businesses in their local area. MerchantCircle also provides information on topics such as on-line advertising, developing email newsletters, and blogging.

Internet business networking can also be found simply by doing a search at Google or Yahoo. Two of the more well-known online business networking sites are InsiderPages and LinkedIn.



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7 Habits of Business Success

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It's not a diet, it's a lifestyle - make the change.

The elusive dream of business success captures the imagination of aspiring and existing business owners everywhere. A vision of flowing profits, industry respect, thrilled customers, and a balanced life. This vision is only possible by developing habits that drive business success. Take the time to learn the 7 habits of business success.

The 7 Habits of Business Success

Habit 1. Cultivate Inner Networks: Entrepreneurs practicing the art of business success know the power of networks. They take the time to identify and build relationships with key peers, mentors, and advisors. This inner network provides support, direction, and an increased number of people to assist. Having an inner network of 5 people who have a network of 5 more, grows the network exponentially.

Habit 2. Customer Centric: Business success requires an unwavering commitment to the customer. This commitment encompasses a mindset of understanding the customers' world. Understanding the customers wants and needs provides the business with a greater opportunity to earn a loyal customer base. Focus away from business and profits, and toward what you can do to improve the life of your customers.

Habit 3. Humble Honesty: Business success requires the ability to know your strengths and weaknesses. Being open and honest about yourself and your business creates growth as an individual and as a company. Don't spend time developing weaknesses. Find help for weak areas, enabling you to focus on strengths. In the book, "Now, Discover Your Strengths", Gallup Organization reveals that building our strengths instead of fixing our weakness is the path to mastery and success. Take the time to know yourself and business.

Habit 4. Adaptability: Business success requires the ability to adapt to changing situations. Nothing ever goes as planned. The world of business is full of surprises and unforeseen events. Using the habit of adaptability allows business owners to respond to circumstances with the ability to change course and act without complete information. Being flexible allows us to respond to changes without being paralyzed with fear and uncertainty.

Habit 5. Opportunity Focused: Problems are a regular part of business life. Staff issues, customer misunderstandings, cash crunches- the list is endless. To achieve business success, look at both sides of the coin. Every problem has an opportunity. Being opportunity focused makes the game of business fun and energizing.

Habit 6. Finding A Better Way: Productivity is the cornerstone of business success. Formulate the habit of finding a better way to make your business more productive. This will create more time to focus on the critical issues that drive sales and profit. Productivity can be enhanced by technology, automation, outsourcing, and improving business processes.

Habit 7. Balanced Lifestyle Management: A business can consume an owner's time and energy. It's easy to allow the business to take control of your life. Business success requires the habit of balancing all aspects of your life. Separating time for daily business tasks, profit driven tasks, and free time is a habit that will make your business and life more enjoyable. Take the time to plan each week.

Learning and instilling new habits in your daily business life can have a dramatic effect on your level of success. Review each of the 7 habits. Choose one habit to focus on for a month or until you achieve mastery. Gradually incorporate each of the 7 habits of business success into your life and attain your business dreams.


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