Home based business is more common now than any time since the industrial revolution. People are turning their skills and in some cases even their hobbies into successful businesses. It is amazingly satisfying knowing that your work is valued, and it’s great to have a flexible schedule that allows accommodation of family obligations. And nothing beats having yourself as your boss.

But having a home-based business isn’t for everyone. In many cases, a home-based business is not the main source of income, but a sideline to save for retirement or to supplement a main breadwinner’s earnings. Though a recent survey found that only 46% of respondents said they went into business for themselves to make money, 90% said that they would do it over again. The lesson here is that you may not get rich from your home-based business, but you may be successful enough to have a life and career that you really love.

Internet-based businesses are a natural fit for those who want to work from home, whether it’s as a word processor, bookkeeper, tutor, or independent consultant in any number of professions. Internet based commerce ventures can also be very successful. Some people sell things they make (like jewelry, clothing, quilts, handbags, etc.) and do quite well at it.

The challenges of home-based or work at home business and internet-based businesses are the same as start-up businesses everywhere: marketing, management of time, keeping financial records, and taking care of all the million and one things that it seems have to be done to run a successful business. Anyone wanting to start their own home-based business should go into it expecting to work hard, and expecting to earn a sense of real satisfaction at having made income from a unique or exceptional skill or product they have to offer.

Outsourcing = Global Momentum

The global business landscape has changed dramatically in the last couple of years thanks to growth of outsourcing. Outsourcing has gained strength as a management strategy for sustaining global growth as well competitive advantage to overcome the challenges of ever growing business complexities. So whether it’s a Fortune 100 transnationals or even a small enterprise, everyone is looking at outsourcing as a key growth engine thanks to the increased levels of process specialization and sophistication. Domain specialization and not just economies of scale are key to the success of any outsourcing relationship. Outsourcing has been recognized to save companies and not just costs.

Evolving Outsourcing Relationships

Organisations now regard outsourcing as a key initiative for overall growth and not just as mere cost saving exercise. Hence organizations are increasingly seeking best-in-class outsourcing specialists and not just large best of breed outsourcing service providers. This is especially true in the IT & engineering verticals as organizations even outsource new product development tasks to specialized offshore vendors. Research intensive, customer focused outsourcing relationships now have to include the following to remain competitive:

• Innovation Update. Quarterly, bi-annual, or annual innovation reviews (also known as innovation boards) focus typically on state of the market, industry trends and relevant information, technology updates, solution demonstrations, site visits, etc. Leverage other industry peer groups to understand what is happening in your industry, the outsourcing industry, and other sectors.

• Benchmarking. Clients should always activate their benchmarking clauses and focus on best practice as comparators of innovation—not just cost comparisons. Benchmark both functional excellence and outsourced environments.

• Stakeholder Satisfaction Surveys. Perform monthly, quarterly, and annual customer satisfaction surveys. They should be “360 degrees”—covering multiple dimensions and all internal and external stakeholders.

• Deliver on Partnering Promise. Hold regular collaborative planning sessions. Where people are briefed on the strategic and business objectives. Service providers need to come up with implantable strategies on how best they can meet their clients’ business challenges. This makes the outsourcing vendors to think and act above simple tactical delivery.

• Value sharing framework. A transparent value-from-outsourcing sharing mechanism on a case-by-case basis should be harnessed to pay for business services delivered. Inclusion of regular mutual rewards for both your organization and that of the service provider boosts people motivation at all levels.

• Service Excellence. All SLAs must be tied to process excellence or customer delight will not happen. Project milestones, “go-live” events, and pilots are tangible means of tracking process maturity & excellence. Other measures include customer satisfaction, productivity, Six Sigma (defects), work elimination, etc.

• Outsourcing Management. The internal governance team should have a transformation or innovation owner, sufficient staff & budget to help drive innovation and must hold the provider accountable for innovation. Reassure and demonstrate to the provider that the relationship is long-term; otherwise they will be inclined to disinvest in innovation and the relationship. Your organization must retain process management expertise at a level at which you can clearly articulate future state requirements, evaluate proposals brought forward by the service provider, and work with your organization to get the business case for change.

• Executive Visibility / Support. Senior executives from the service provider side must have high visibility and access. This includes steering committees, reciprocal headquarter visits, joint speaking engagements, regularly scheduled calls, quarterly and annual briefings.

• Behaviour/Communication/Culture. Be prepared to invest in and encourage business process transformations that are aligned to business goals - rather early in any outsourcing relationship. Transformation requires a partnership mindset, not a transactional orientation. Innovation is often not brought to bear because clients do not ask for it, define what they mean by it, and motivate the provider to deliver it, or put restrictions around it. Clients rarely help the provider to understand what is important to them.

Consultative BPO

Outsourcing has now scaled the maturity milestone globally and hence is increasingly consultative in nature rather than being mere business vendors. Outsourcing relationships now proactively meet business challenges as specialist BPO vendors invest to stay ahead of the learning curve.

Outsourcing is often regarded as a change catalyst and hence clients are increasing using outsourcing initiatives in their growth strategies/ employee career planning initiatives. Joint client-service provider partnering is key to this new consultative approach where both invest in transformations and not just fund reactive process management.

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You need to find an ideal way of organizing and supporting your business. You can develop your own style, embrace your inner talents, find “your and only your” way to Success.

Every starting out specialist who is about to organize their own practice wants to be successful right from the start. How to do that? Where to find a perfect way to run private Biz? Does one have to spend years in order to become successful? I would say no to years and multiple business start outs.

Many people want and I say they can run their business perfectly well from the start, while continuing to develop. From my own experience, I went and I have talked to successful people. I learned about their mistakes, I put reminders for myself to achieve more at my starting level. And I did it.

They say that road to Success is hard-work. I would agree on that.
They say that if you are not born as a businessman you have to work hard for years to get the necessary skills. Well, I am not sure about that.
They say, this is my favorite one, that:
“He is just lucky… He has done nothing to obtain what he has already… He has a good karma.” LOL

There is a new tendency that I accepted and followed. I started to develop habits of rich people from the beginning. My business is small and it was only in my own efforts to run it properly. I had no accountants or business advisors in my family. None of my friends had their own ventures. I had nobody to turn to. Nobody could actually give me an idea how to run my business and organize myself successfully. But I have done it anyway. Thanks to the already successful people, psychologist and business trainers who have helped me to bring out the best in me.

I looked at them. I studied them. I worked with them. I did it all in order to fix my internal problems and fear of failure that was passed to me in my childhood. I am sure many people can relate to me. Because, our parents didn’t always know how to teach us in a better way. They were raised by their parents who have given them whatever they could. And sometimes these things are not best to work positively in our lives. Anyway, I worked through my problems, because I really wanted to be successful in my life. I was motivated to create better life for myself, my family and my child.

Everything happened for me the moment I understood that I can be successful and wealthy only if I develop something of my own. Something that works in my life. Something that could help other people to make their lives better.
But how to do that? How to find something of your own? How to develop and implement it in your business?

The search is actually not that long.

You put a goal and ask yourself:
“What is my, and only my, talent?”
The answer will come to you in time. Sometimes it can take a few months, sometimes a few days, sometimes a few minutes for the answer to come to you.

After that, you take another important thing and put it to work. Your faith.
Do you completely believe in yourself? If no, you should work on it. I wouldn’t give any advice here because every person completely differs from another. The answer is within you. The only common suggestion is to visit, once again, a successful and experienced specialist, psychologist, business trainer. Tell them what you need exactly, they will help you out.

Do another thing for yourself. Set a specific time and date for yourself when you want this faith to appear in you and you will be ready to start doing something. Time and date will help you organize yourself better. It will make you move forward faster because you have triggered your subconscious and super conscious mechanism in order to succeed. There is a saying that “If you really want something, the whole Universe will help you to achieve what you want.”

Now, back to our Success Stairs. You have to climb them.
Your fist successful step is to keep track of every work you do throughout a day. Believe with all your heart in everything that you do and list what you were doing in your small achievements To-Do List. That is how you will be able to keep track of what is done and what still needs to be done. That is how you will be able to gain more faith in everything you do.

Learn how to organize yourself. Set deadlines what and when needs to be done, created or finished. Set estimated time for every work that you do. That is a key to successful time management skills.

Make a to-do list of all your services sold to your customers. Create your own client database to keep track of your clients. Communicate with them to get to know their special needs and see if you can fulfill them and implement it in your business.

Put your computer, organizer, to-do list software to work. They will help you organize yourself better, concentrate on what your have to do and in what priority everything needs to be set. Let your organizer be your silent assistant. It will alarm you when you have to do something important step by step.

List your ideas for the future. Remember, you have to write them down. Brilliant ideas come and go. They have a tendency to vanish in our daily routine mind work. That is why your every idea, even crazy one, must be written down on paper or a computer. From my experience, these ideas accumulate and then some of them can bring you “your and only your” true Success.

P.S. Good luck in your Business. Be successful in everything you do.
Don’t forget to download for free your “how to organize your business” to do list.

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With so many online ventures failing, you may wonder, is it really worth considering setting up an online business? The answer to this is yes: internet based companies are still on the increasing 25 – 30% year on year. Even the economic slow down in recent years has not hindered this increase.

According to an annual report of internet trends by a top market Research Company, almost two third of Internet users in the United States have by now purchased a product or service online. That’s a dramatic increase from 2000.

While the hype over the new economy is maybe over, one thing is certain the internet has changed the way we do business. Many companies are now starting to grasp that their very survival may be in jeopardy if they are slow in implementing their internet business model.

However the question still remains - is there an efficient way to do business online?

Below I have outlined some components crucial to any online venture. While these might not be the only vital components of web based business, understanding them properly will significantly increase your chance of being successful with your online venture.

The main component you need is a business plan, one that makes sense and has been fully researched.

A recent AT&T report of successful entrepreneurs shows that businesses are more likely to be successful if they have a business plan. With a business plan you get a better picture of your planned venture. So, before starting you online venture, take time and write down what are you are intending to do. Product or Service If you are a brick and mortar company merely attempting to increase your sales of your products or services on the Internet. You at least don’t have to think about what to sell.

You can sell nearly any product or service on the internet; there are even incidents of people buying corporate jets online!

If you are serious about opening an online business, finding a product or service that suits you should not be very difficult.

Knowledge base goods like e-books, how-to-reports and hard to find information do well on the Internet drop-ship items are also plentiful on the net. Thanks to the worldwide customer base of the internet finding a manufacturer for any product that you plan to import to your country or export from your country has become a lot easier. If you have expertise, online services related to web design, travel arrangement etc. are also good areas. Internet gambling is also a very good area to investigate.

The look and feel of your website is important as potential customers will decide whether to do business with you or not based on the first impressions of your website, it is vital to have a professional-looking website with enriched content.

You can decide what type of website you want according to your situation; there are a vast range of choices. Starting from a completely free website you can spend thousands for a more advanced site.

Understand SEO (Search Engine Optimization) this is very important, setting up your site so it is fully optimized for search engines is vital. Many companies will offer their services to optimize your site; however it can be done yourself by researching the subject prior to developing the site.

There are many quality portals that permit you to have products and services displayed on a single page web site for free. Many business to business portals offer this kind of services. However, for real time transactions you will still need e-commerce websites.

For a small monthly fee you can have the facilities necessary to run a full fledged electronic storefront and build it yourselves from easy to use templates.

If you go for this type of services, compare and see who has most of the features for the best price.

Shopping carts form an essential part of e-commerce sites, they allow you to accept purchase orders for many products or services.

The term “Shopping Cart” is taken from real life shopping terminology to help users understand the actions available to them. Like in a supermarket a person can add items to shopping trolley, or remove items from the trolley or adjust the amount of the items as per requirement before checking out and making a payment.

Access to the shopping cart should be clearly evident. There should be numerous entry points to the cart. Add, remove and adjust quantity of the product features should be prominent on the cart page. The article name should have a link to the description of the product. There should be a way of saving items for future purchases. Shipping and other costs should be clearly stated before the payment process starts. Order forms should be simple and clear. All payment options should be explained clearly. Ordering process should be done through a secure server. You know you are on a secure server when the URL of your browser indicates “https:”. The s at the end of http stands for “secure”. Merchant Account 90 percents of all online retail sales take place through credit card transactions.

Even if you already accept credit cards for your offline transactions, that may not be enough. Although, you can take many precautions to reduce online credit card frauds, credit card companies still consider Internet transactions to be riskier than offline transactions.

There are numerous merchant account providers on the internet. Carry out some investigating before you sign up with any of them as their terms and conditions vary significantly.

It is definitely good to have a merchant account however that does not mean you cannot sell products or services without one! There are numerous other payment options available on the internet. Most popular of them are paypal, e-gold, e-bullion, etc.

If you would like to have an efficient online business, remember that old values still count. Proper planning, uncompromising customer service, integrity, hard work and persistence eventually will make your business successful.

http://www.bizseller4u.com

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Well the end of another year is nearly here and hopefully for all you businesses owners it has been a very good year. If it has been a very good year for your business then after your done patting yourself on the back for a job well done it might be time to take a look at how your going to improve you business over all and how you might want to change or improve your business computing and processes so that you can grow you business even more in the coming year.

If you’re a new startup company then hold on because besides making suggestions for existing companies I am also going to give some good ideas to research for your new business as well that might just help your business get off to the right start for business computing and Information Technology.

Even if your company did not have a good year then maybe this article will give you some ideas to research or think about that might turn your business around.

To start if you have been in business for a few years and your business is starting to experience good grow and profits then it might be time to review the office and computer equipment that you have on hand. Is the equipment new or over 3 to 4 years old and how did some of the office equipment impact your bottom line last year. For example did that old printer need to be serviced a lot or jam or break down a lot costing you productivity and expenses to have someone fix it all the time. If this is an issue then it might just be time to get a replacement for your office. Like all office equipment printers will needed to be replaced you should evaluate just how much all the down time and service cost was for that printer and then look a cost for good replacement you might be surprised that getting a new printer might actually save your business money over time. Even if you paid for printing services you might want to review the cost and see if investing in printer will save you money.

Another good example would be if some of your employees are using older computer that take longer to process data and job task. Again if you think about cost in man hours and delay you might find it is costing you more then a good replacement computer for those people.

Alright you looked at your office and all the equipment and your really don’t find any old equipment that is causing problem as matter of fact your office is running pretty good. Then if your company does not have a presents on the web maybe it is time to look at investing in setting up a web link and resource for your company. The same goes for startup companies since this can be low cost although it can also become expensive if you pay for different services to promote your business but it can really promote your business. Think about it this way by having a webpage for your business you have a good way to show your customers and business partners the great products and services that your company offers. I will be posting a new article that will discuss more about putting your business on the web in a few days.

Another thing that you can look at improving or changing is servers if you have them. If you have 2 or 10 servers that have been running for sometime then maybe this might be a good time to upgrade them by adding storage capacity or even replacing them with more efficient ones. Servers can be one the most expensive investment but they usually will last sometime before you have to replace them.

Another item you might want to look at is your computer networking. If your company is running a T1 or just a DSL line you might want to look at expanding it especially if your company is expanding and is send more data and information or doing more online research. Also if your office is growing in size and you might have to upgrade your network switch especially if you noted serious slow downs. Another thing to think with company networking is security and firewalls which is an item that you might think about to help protect your growing company. Also don’t forget another great investment is backup equipment and software after all backing up your data can save you in the long run and keeps your vital business records safe even if a main computer crashes that had customer or project data on it with backups you can quickly recover afterward.

The last item to look at is software and tools that you run for you business. Maybe it is time to upgrade or invest in some new software tools that will help you increase productivity or help you attract new customers. The investment in the right software tools could really add to your business help you attract new customers. A good example is if you company runs Pro-E tools for mechanical design only then you might want to also add some other tools such as Cad tools to do designs. If you notice that a lot customer wanted some Cad designs as well as Pro-E layouts then you just added to the service you can provide to existing customer and you might find new customers that only want the new Cad designs services so you have just expanded your business just by adding one software tool. This is just an example of how one software tool can add to your business before you invest in a new tool be sure that the cost is worth the investment and it adds to your business.

In conclusion business computing improvements to your business by adding to productivity and efficiency of the day to day operations and can help you take on more clients and over all help you build your business.

Hopefully this article has been informative and helpful to you. If you’re looking for more Business computing information and solutions then be sure to check our website listed below.

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Q: One of my former employees has started a competing business and is calling my clients and trying to steal their business from me. Do I have any legal recourse against him?
– Brad J.

A: I hate to break this to you, Brad, but unless this former employee signed a noncompete agreement while on your payroll, there is probably very little you can do to stop him from wooing your customers. You should discuss the situation with your attorney, but unless this person is also breaking the law in some other way (using stolen trade secrets, for example) your attorney will probably concur with me.

Renegade former employees riding the free enterprise wave is one reason noncompete agreements are gaining in popularity among employers who hope to use them to help protect their business from competitive threats launched by former employees. Many employers are now demanding that key employees sign noncompetes as a stipulation of employment. While signing noncompetes usually doesn’t sit well with employees who view them as potential roadblocks to their upwardly mobile career path, many businesses will not hire a key employee without his or her signature on the dotted line.

A noncompete agreement is a formal contract between you and your employees in which they promise not to use information or contacts pertinent to your business in a competing situation. In other words, they agree not to take everything they learn working for you and put it to use for someone else. This could mean going to work for a competitor or starting a competing business of their own.

While not popular with employees, noncompete agreements are a good way for employers to keep key employees on the payroll and protect the company’s proprietary information. That said, do not go overboard with noncompetes: not every employee should be required to sign one. If an employee does not have access to sensitive information, customer or accounting data, or is integral to the overall success of your business, there is no need to have them sign a noncompete. The janitor, for example, poses very little threat to your business if he gets a job with a competitor. Your sales manager, on the other hand, can devastate your business by hooking his wagon to a competing horse.

Which employees should sign noncompete agreements? While the prerequisites vary from business to business, the following is a good general list. The term “employees” represents executive level, management, supervisory, and non-management personnel relative to that example:

- Employees involved in research or product development. - Employees involved in the design, fabrication, engineering, and manufacturing process. - Employees who service products made and sold by your company. - Sales and service employees who have regular contact with customers or sensitive customer information. - Employees with access to sensitive business information or trade secrets. - Most importantly, employees who have sufficient information about your business that would allow them to start a competing business.

Most business experts agree that noncompete agreements are generally a good way to protect your business. The downside is that noncompete agreements are often difficult to enforce and in some states, may not be enforceable at all. Many state courts have ruled that noncompete agreements are too restrictive on an employee’s right to earn a living.

In California, for instance, noncompetes are generally only enforceable in connection with the sale of a business and not for employees. In Alabama, noncompetes are generally enforceable in only two contexts: the sale of a business and in connection with employment - but even then the enforcement requires that there be a valid interest worthy of protection.

Some states require that the noncompete be signed at the beginning of the employment relationship and will only consider the enforcement of a noncompete signed after the initial employment date if the signing of the noncompete was accompanied by a promotion, raise in pay, or other event that elevated the employee to a more important role within the company.

To be enforceable, noncompete agreements must be reasonable on three accounts: Time, geography and scope. Regarding time, you can’t restrict someone from competing with you forever, so one to three years is the accepted time period for most noncompetes.

As to geography, you can enforce restriction in the general area where you conduct business, but you can not enforce the restriction beyond those boundaries. And for scope, the agreement can restrict certain actions on the part of the employee, but can’t be so generally restrictive that the employee won’t be able to earn a living working in the same industry in a noncompetitive position.

One interesting thing to note: noncompete agreements are not enforceable against certain “professionals,” like doctors, CPAs, and lawyers (who do you think writes all those noncompetes).

At this point, Brad, the best thing you can do is contact your attorney to see if you have other grounds for suit, then contact your customers and let them know what’s going on.

Explain the situation regarding the former employee, but do so calmly and resist the urge to tell them what you really think of this guy. Showing your anger to the customer is not going to help you keep their business .

Reaffirm your relationship with the client, tell him how much you value his business, remind him of your track record and level of service, then ask one simple question: What can I do to make sure your business stays with me?

Here’s to your success!

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Are you interested in starting up your own business? If so, you should carefully consider writing a business plan. The thought of preparing a business plan tends to fill most business owners with dread; it can be a difficult, stressful, and time consuming process. For this reason alone you may want to think about seeking assistance.

One of the many ways that you can seek help to write your plan is by hiring a professional, who in this case is a professional business plan writer.

What Is a Professional Business Plan Writer?

Before deciding whether or not you should hire the services of a professional business plan writer, you should first clearly understand what they are. In most cases, you will find these individuals to be experienced, professional writers who are well versed in business terminology and who can effectively understand the needs of businesses. It is important to understand when writing anything, even a business plan, that it is the wording which makes all the difference; the words used can be the difference between success and failure. That is why a large number of small business owners turn to professional writers for assistance.

What a Professional Business Plan Writer Can Do For You

When it comes to searching for a professional business plan writer, you will find that different writers perform different duties. For example, a large number of writers will merely take your ideas, which you have already thought out and developed, and present them in a professional matter; they will just present your plans in a more professional way than you could.

Then there are the professional business plan writers who will work with you to develop your plan from the inception of the basic ideas for your business to the finish document. Naturally since more work and time goes into to assisting you with developing a business plan from the bottom up you will probably find that the services of these writers cost more than traditional ones.

It is important therefore that before you start your search you be very clear in your own mind as to what level of support and input you require.

Why Hire a Professional Business Plan Writer?

There are a number of different reasons why small business owners turn to professional business plan writers. One of the key reasons is of lack of experience when it comes to putting ideas on paper and not knowing what format a plan should take. If you have never created a business plan before you can easily find yourself staring at a blank piece of paper for hours on end!

Although it is relatively easy to learn how to create your own plan, it can be a time consuming process to undertake the research and get into the appropriate mindset. With the right experience, a professional business plan writer will be able to create a detailed, professional business plan in half the time that it would take you to create the same plan.

How Do You Find Someone?

If you are interested in acquiring the services of a professional business plan writer, you have a number of different options. One of those options is to search for someone locally. Dealing with a local business plan writer is great, especially if you want to deal with someone face-to-face. Your search can focus on your local government business advice centers or even asking fellow business colleagues. If there is a writing group or circle in your locality then you can approach them for potential names.

The only problem that you may find is that not all areas of your country will have professional business plan writers. This means you may have to turn to the Internet for assistance. By conducting an online search you will find a large number of professional writers who specialize in creating or writing business plans.

What Should You Look For Before Hiring?

When choosing a professional business plan writer it is important that you don’t choose either the first person that you come across, or the cheapest. If a well written business plan is crucial to the success of your plans then you must be careful in your selection. Your business plan may not only be used for your personal guidance, but it may also be used to attract financing for your business and that is why your plan must look professional, be detailed and readable.

Before hiring a writer, you should request samples of previous work and also ask to see testimonials from business owners who have used their services. This will help to ensure you are getting your moneys worth and that you end up with a business plan you can proud distribute.

As with any contract you enter into be very certain what you are getting for your money. Does the contract include the provision for free updates or unlimited revisions before the final version is agreed? Will you be charged per word, per page, or by the hour? Make sure you fully understand the deal.

By following these points you should be able to decide whether or not a professional business plan writer can assist you. Whilst they can be an additional cost you may not be able to afford, in the long run it could be the best investment you ever made.

You will find a complete guide on how to write a business plan in my e-book ‘The Secrets of Writing a Killer Business Plan’.

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Factoring, also known as accounts receivable factoring, is a business term used to describe a method in which companies sell their outstanding receivable invoices in order to gain immediate cash for their business. When a company sells a product or service, an invoice is created stating the amount due and the number of days in which the invoice must be paid. This invoice instantly becomes a part of accounts receivable, which is money that is owed to a business. After the invoice is generated, it must be sent to the customer and the business must wait for the specified amount of time before that invoice is paid. Often times, for reasons of misfortune or lack of attention, a debt may go unpaid and extend past the due date. This presents a problem for the business, which is awaiting payment, in that it interferes with the cash flow when a debt is not collected. This is especially true of new, or struggling, businesses.

The process of factoring works when an institution purchases the invoice for an amount that is somewhat less than the face value of the debt. This amount can be anywhere between 70-90%. The factoring company then proceeds to collect the full amount due for the invoice, which is then delivered to the original business less a factoring fee.

If a business offers credit terms as part of their sales, factoring is one way of eliminating cash flow problems. Many businesses who use factoring receive their money, from the sale of their invoices, within 24 to 48 hours. This unique approach also offers a company with the ability to extend competitive credit terms to their best customers and not have to worry about waiting for the credit payments. By offering attractive credit terms, more customers will be drawn to a business. Most businesses compete in pricing, but a company is much more appealing if they offer financing options direct to their buyers. Many consumers do not have the funds to pay for items upfront, especially if a business markets more expensive sales, but a customer may be able to agree on delayed payments. Therefore, a business offering such a deal would sell more inventory than a company who requires total payment upfront.

It’s important to realize that factoring is not a loan or a debt. In addition, unlike bank loans, collateral is not required. It’s simply the sale of invoices, on which people owe money, to another business for a slightly smaller percentage than the total due. The original business gets immediate cash and, for a fee, the factoring company collects the face value of the debt.

Many businesses, who extend credit, opt for factoring in order to avoid the hassle of trying to collect money. In addition, it costs more to have a billing department who is responsible for creating invoices every month. By factoring, a business eliminates their need for a billing department and saves money on the hassle of attempting to collect debts.

The cash generated from factoring will allow a business to purchase new equipment, pay existing debts, increase marketing efforts, improve planning, process new credit approvals, improve customer relations and save money on accounting procedures.

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When was the last time you received a handwritten note from a business associate? It may be that it was too long ago for you to remember. On the other hand, if you have gotten one lately, you know exactly who sent it and when. Handwritten notes have become almost extinct in the business world. So if you are looking for ways to stand from the crowd, to be noticed by your colleagues and clients, try putting pen to paper whenever you have the slightest excuse.

There are few acts more impressive than handwriting a letter or a note to someone with whom you do business or would like to. Most people think that writing notes by hand requires extra time and effort. Ironically, it can be quick and painless if you do it frequently and follow these tips:

1. Have writing supplies close at hand. Store stationery and stamps in the most convenient place in your desk. When you need to send a note, all you have to do is reach for your stationary, dash off a few lines, address the envelope, put the stamp in place and mail it.

2. Keep your message brief. These are notes so you only have to come up with three or four sentences. If you attempt to compose more than a few lines, writer’s block is liable to set in and you will never get past “start.”

3. Develop a system. Before you head out of the office to a business meal or function that someone else is hosting, address an envelop to your host. It will be a breeze to jot down your short message when you return.

4. Use the appropriate professional stationary. Both single-sided correspondence cards and fold-over notes with the company name or logo imprinted on them are business-like and will represent you and your organization well.

5. Poor penmanship is no excuse unless your handwriting is totally illegible. The person who receives your note will appreciate your thoughtfulness and will not be grading your handwriting. If your penmanship does not meet your standards, it is never too late to improve. There are numerous resources at your library or on the Internet to teach you to write legibly.

6. Use any occasion to get noticed with a note. A few of those instances are when…

You have received a gift
You were a guest in someone’s home
You were hosted to a meal
You received a business favor
You are replying to an invitation
You are sending condolences
You want to offer congratulations
You need to apologize

7. Make your message timely. Whether you are sending a note of appreciation, congratulation or condolence, do it as quickly as possible. A thank you should go out within 24 to 48 hours. However, don’t forgo sending a note because you think too much time has elapsed. There is no definite statute of limitations on appreciation.

8. Understand that e-mail is not a substitute for the personal handwritten message. The Internet is fast, efficient and remote. If you are corresponding by e-mail immediately following a meeting with a business associate, include your expression of gratitude, but don’t let that stop you from sending a second message by ground.

Successful people pay attention to the details and look for ways to build better business relationships. When you take the time to send handwritten notes, you will stand out from the crowd for all the right reasons. Your next big sale or job promotion may came about as a result of your doing business just a little differently.

(c) 2005, Lydia Ramsey. All rights in all media reserved.

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Those who are still learning the ropes of running a small or home-based business may be unsure about how to accept credit cards for their goods and services. Perhaps you have sold handmade items by mail order up to this point, receiving a check in the mail as payment. Or you might run a small shop where customers come in to shop and pay by check or cash. If you are wondering how to accept credit cards, here are a few basic guidelines.

1. Apply for a merchant account to find out how to accept credit cards at your business. You can get one through many banks and other financial institutions in your area. Visit websites such of as many credit card merchants as possible. Also visit websites of several banks to see if they offer merchant accounts. Click on the link to find out what the requirements are and whether you are eligible. If you don’t see specific information for this type of account, email the contact person and ask for information about how to obtain a merchant account so you may start accepting credit card payments.

2. Demonstrate your fiscal responsibility. Submit copies of documents that prove you are a good credit risk and ready to manage the next step of upgrading your business by learning how to accept credit cards. You may want to get a copy of your company’s credit history, the last three or four company bank statements, and the usual business documents that show your company to be in good standing. Keep in mind that many underwriters do not want to work with companies that are involved with pornography, drug sales, spam, or other types of questionable enterprises.

3. Companies involved with charge backs may experience a fee adjustment. Give some thought to the types of expenses you will incur when you learn how to accept credit cards. For example, there may be set-up fees, monthly statement fees, gateway fees, and others. You also may want to ask about wireless credit card processing if you have employees that work at various destinations or whose jobs are somewhat mobile as they collect payments.

4. In learning how to accept credit cards, realize that you may be bombarded with offers from companies who want your business. They may offer terrific-sounding deals that will collapse when it comes time to sign the contract. Or you may agree on terms and then realize that the terms later change to your disadvantage. Make sure you understand the contract’s fine print before signing. Avoid purchasing unnecessary features that will add to your cost but not necessarily to your profit.

5. When you learn how to accept credit cards, you will want to be sure that your company’s Website stays up to date and remains functional so that customers can use it at any time. You may have to hire a service technician to oversee Website content and to address any glitches from the company side or the client’s side when problems are reported.

Moving your business into the e-commerce era is challenging and exciting. Take time to become familiar with the various ways in which customers can make electronic payments so that both you and they can avoid errors and experience the convenience of learning how to accept credit cards.

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