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Work At Home Moms: Is E-currency Exchanging the Perfect Home Based Business?

Wed, 17 Feb 2010 22:28:26 +0000

By: Ken Masterson

If you’re a work at home mom, part-time worker, or a homemaker looking for a way to increase your cash flow then this is an opportunity worth investigating.

Most women that work in internet or home based businesses end up doing some form of direct sales, promotions, or data entry. As promising as these opportunities sound they often leave women hawking makeup or typing thousands of words per day with no profit at all.

Unlike other money making programs that you might have tried e-currency exchanging requires very little of your time and resources. Among the things that you won’t have to deal with are: long hours, annoying customers, sales of any kind, products or mailing lists. You will be able to work from anywhere in the world (with an internet connection), have no set schedule, and be your own boss.

Why is this business right for work at home moms? The fact is that it takes only 20 to 30 min a day to manage your portfolio, which leaves you enough time in the day to care for more important priorities, like your home and family. Also there is no large start up capital necessary; your initial capital can be as low as $25.

This business is not hard to learn and doesn’t have an intimidating risk factor that something like day trading does.

So what is e-currency exchanging all about? Due to global commerce consumers find themselves conducting business with companies and people from different parts of the world. This has resulted in a heavy reliance on third party currency exchange services such as pay pall, e-gold, e-bullion, and plenty of others to complete cross-continental transactions more efficiently.

This influx of e-currencies has created a window of profitable opportunity for those in this business. With so many different forms of e-currencies available there is now a need to exchange between them. In this marketplace you will be operating as a lender of e-currencies that you have purchased.

You will do this by investing in digots, a term used in this business, which represents a digital value determined by a region of activity within the DXInOne system. When you purchase a digot, it simply means that you are investing in the activity of some region of the world.

The higher the activity in that region is, the higher the digot will increase in value. With a small investment in the system you will be making .2% – 2% on each exchange that you are involved in. The profit percents are a range because they will depend on how well you’re digot picks perform in each trading session.

The best part about this business is that you can not loose money; since your profit comes from the fluctuation of your digot values the only thing that changes is how much you make. So, on some highly profitable days you will be operating at the full 2% earning huge returns while on slower days your return rate will be less. People with large investments have netted profits over $5,000 per month.

This is just a brief explanation of what this home business is all about and it really does entail more than what has been stated. Since this business is relatively new there is not yet that much information about it readily available.

There are however several e-currency exchange experts out there who offer training on how to be very successful in this home business opportunity.

Ken Masterson, senior editor at The Program Guide, is an established writer and e-Currency Trader. Learn how to gain financial freedom through the e-Currency Exchange Business at http://www.theprogramguide.com

C&g Consulting Helps to Grow Midwest Process Manufacturing Solution Leader Escape Velocity Systems

Wed, 17 Feb 2010 22:25:23 +0000

By: Thomas Cutler

Evan Garber, President of Escape Velocity Systems (www.evs-sw.com) EVS noted, “We are delighted to work with C&G Consulting’s seasoned software implementation consultants; they are dedicated to assisting our Midwestern base of process manufacturing customers with our cost effective ERP solutions. Our customers are constantly being challenged by raw material issues, governmental regulation and reporting requirements, and marketplace pressures that demand accurate, rich information. They are forced to change not only how they do business but also how they report the impact of the change to shareholders and other groups. When our customers or prospective customers ask for help providing a proactive solution to these issues, it is paramount that we provide a proven solution to their specific industry needs along with a strong strategic alliance partner like C&G.”

C&G Consulting enthusiastically embraces O2 Process Manufacturing by Escape Velocity Systems. According to Rick Sovitzky of C&G “O2 is an industry leader in the process industry arena…it is the solution to the specific formulation creation, manufacturing, and all important reporting requirements demanded by the customer. The data gathered by the software allows for the removal of individual spreadsheet solutions of the past and provides a database of critical inventory and order information. It is this information that allows a company to make the decisions about inventory that improves working capital. It is this information that allows a company to report to governmental agencies on the required environmental issues. It is the source of information to decide how well a process or formulation is creating the revenue the company needs to move forward in its business plan.”

Escape Velocity Systems (EVS) was formed in 2001 to combine specific industry knowledge related to process manufacturing, distribution, and ERP implementations with cutting edge software development. The company focus is to create tools that enable mid-market enterprises to achieve their goals, focusing on lean processes and ROI. According to Garber, “We realize that good ERP software is the hub of information in any process manufacturing enterprise. Timely, reliable, and centralized data are non-negotiable elements for businesses competing in the 21st century. We are delighted to work with Arxis as a strategic alliance partner in delivering the best technology solution for the process manufacturer.”

The term escape velocity refers to the speed that is necessary for an object to overcome gravity and soar into space. EVS provides direct applications for businesses looking for a catalyst, not just a software package. Process manufacturers require the best software solution coupled with industry experience that will accelerate the velocity with which they race towards their goals. The gravity of status-quo opposes aggressive, cutting edge organizations as they strive towards high quality and short lead time delivery while reducing inventories and operating costs.

Escape Velocity Systems
www.evs-sw.com
Evan Garber
President
solutions@evs-sw.com
303.494.1765 x114

Goals, Demand And Challenges Of 21St Century Public Administration In Tanzania

Wed, 17 Feb 2010 22:25:09 +0000

By: viane sylvester

What is Public Administration?

Public administration is the machinery, as well as the integral process, through which the government perform its activities ( Kettl, D. 2002)

Public administration is broadly described as the development, implementation and study of government policy public employees work to improve equality, justice, security, efficiency and effectiveness in service delivery.( Brudney, 1998).

Classic scholars including Plato, Aristotle and Machiavelli are the foundation of subsequent generations of public administration emphasizing the moral and political human nature as well as the organization of the governing bodies. In the United States, Woodrow Wilson who would later became a president considered as the father of public administration in the United States defined the object of administrative study to discover first, what government can properly and successfully do, and, secondly, how it can do these proper things with the utmost possible efficiency and at the least possible cost either of money of energy.

Evolution of public administration

Reforming public management has been an on-going process in many countries of the developed and developing region for one to two decades. The impulse for such reforms came as a result of combination of a number of factors. These included: market determination; public dissatisfaction with service delivery; growing demand for citizen participation in decision making; and disillusion with the standard of public sector resource management (Njunwa, M.H.M. 2005).. Other concerns like cost effectiveness, efficiency, accountability, focus on results, contestability of advice and services, better performance management and decentralization of service delivery also contributed significantly to create pressure for change and reform.

During the last decade a number of significant reforms have been implemented in a number of

countries in the Africa particularly Tanzania. Many governments in Africa were facing serious crises, but evidence shows that even governments in developed countries were searching for renewal of their governments as they were perceived to be getting irrelevant to the citizens need and to their expectations. These reform differ in terms of nature and scope. But both intended to bring about a marked change in governance in these countries. It will not be possible to discuss here in any great length all the reforms in these countries. Rather the focus below is on some significant reforms in Tanzania that have implications in public administration

Like many African countries, Tanzania public administration has a long and distinguished history due to the influences of different management practices of the changing world (Farazmand, A., 1999) : traditional public administration; public management, new public management; and responsive governance and recent paradigm of Reinventing Government . In some measure, they are chronological, yet they overlap in both historical time and substance.

At the time of independence, the emerging nation of Tanganyika inherited a public service designed to serve its colonial interest. The size of government was then small, with a focus on providing services to the colonial population, Following the Arusha Declaration of 1967 through to the late 1980s, Tanzania saw a dramatic expansion in the role of the state in all areas of the economy therefore, entailed the building of institutional and human resource capacity to respond to the needs of the new nation.

By the early 1990s, in responding to political, economical and social pressure, public sector in Tanzania shift towards a free-market economy, as part of global economy phenomena, where the private sector was to serve as the engine of growth, needed to be better reflected in the structure and size of the nation’s public service (Therkildsen2000). This created a need to introduce some reforms within a public sector in favor of reducing the role of state and increase reliance on market.

As part of wider cross cutting public reforms agenda the government introduced the core public sector reforms which have focused largely on reorganizing service delivery mechanisms within Government, improving systems and processes, and building the human capacity of the Public Service. Examples include the following programmes ;civil service reform program(CSRP), the Public Service Reform Programme(PSRP),the Local Government Reform Programme (LGRP),Public Finance Management Reform Programme (PFMRP),the Legal Sector Reform Programme (LSRP) the National Anti-Corruption Strategy and Action Plan( NACSAP)and Business Environment Strengthening Tanzania (BEST)

GOALS OF TANZANIA GORVERMENT

The National Strategy for Growth and Reduction of Poverty (NSGRP), or what is more commonly referred to by the Kiswahili acronym MKUKUTA, has been in effect since July 2005. It is a key document setting out a broad framework and strategy for poverty reduction and economic growth.

National Strategy for Growth and Reduction of Poverty (NSGRP), has divided into three clusters.which are:

(1) Growth and reduction of income poverty

(2) Improvement of quality of life and social wellbeing and

(3) Good governance and accountability

Cluster 1 in the MKUKUTA is ‘Growth and Reduction of Income Poverty’. Income poverty is defined as “when people live on less than one US dollar a day. This means that they cannot afford enough food or medicine and they will have poor clothes and houses” (Tanzania without poverty – Phase two 2005: 5). The broad outcome of this cluster is phrased in the following way: ‘Broad-based and equitable growth is achieved and sustained’. Accompanying this broad outcome, six goals are presented: 1) Ensuring sound economic management; 2) Promoting sustainable and broad-based growth; 3) Improving food availability and accessibility;

4) Reducing income poverty of both men and women in rural areas; 5) Reducing income poverty of both men and women in urban areas; 6) Provision of reliable and affordable energy to consumers. It would make this report far too extensive if I were to go into detail on all the goals and activities. I will therefore confine my comments to some of the most important issues in this cluster and try to compare them with the content of the Manifesto.

Cluster II has two broad outcomes: 1) Improved quality of life and social well-being, with a

Particular focus on the poorest and most vulnerable groups; 2) Reduced inequalities in outcomes (education, survival, health, for example) across geographic, income, age, gender and other groups. Within these outcomes five goals are identified: 1) To ensure equitable access to quality primary and secondary education for boys and girls, universal literacy among men and women, and expansion of higher technical and vocational education; 2) To improve the survival, health and well-being of all children and women and of specially vulnerable groups; 3) To ensure access to clean, affordable and safe water, sanitation, decent shelter and a safe and sustainable environment – and thereby reduce vulnerability from environmental risk;

4) To ensure adequate social protection and provision of basic needs and services for the

vulnerable and needy; 5) To ensure effective systems to permit universal access to quality and affordable public services. education, health, access to clean and safe water and outcomes, goals and activities with the general aim of reducing inequality.

Cluster 3 of the MKUKUTA defines four broad outcomes: 1) Good governance and the rule of law; 2) Accountability of leaders and public servants; 3) Democracy and political and social tolerance; 4) Peace, political stability, national unity and social cohesion. This third cluster covers a wide range of issues. It deals with economic and political structures and processes, systems of management broadly defined, security, tolerance and inclusion as well as participation in decision making. Democratic development, human rights and the rule of law are additional issues under this cluster. It also has to do with effective, transparent and accountable use of public resources. To achieve the desired outcomes under this Cluster several ongoing reform programmes need to be sustained. Some of these are: the Public Service Reform Programme (PSRP), the Local Government Reform Programme (LGRP) and the Legal Sector Reform Programme (LSRP).

Within these four broad outcomes seven goals are set: 1) To ensure that structures and systems of governance as well as the rule of law are democratic, participatory, representative, accountable and inclusive; 2) To ensure equitable allocations of public resources – with corruption effectively addressed; 3) To put in place an effective public service framework as a foundation for service delivery improvements and poverty reduction; 4) To ensure that the rights of the poor and vulnerable groups are protected and promoted in the justice system; 5) To reduce political and social exclusion and intolerance; 6) To improve personal and material security, reduce crime and eliminate sexual abuse and domestic violence; 7) To enhance and promote national cultural identities. As mentioned in the introduction, ‘good governance and accountability’

(As according to National Strategy for Growth and Reduction of Poverty (NSGRP)

after analyzing different documents such as national strategy for development ,Millennium Development Goals (MDGs) 2015 and the Vision 2025 and CCM election manifesto 2005 you can identify that all these aimed at archiving the same goals with different ways because they have only differ in term of form and scope and they are both aligned with National Strategy for Growth and Reduction of Poverty (NSGRP), MKUKUTA MKUZA of Zanzibar

Demand of the public administration of Tanzania based on 0bjectives /goals of public sector reform s in Tanzania (CSRP PSRP1 PSRP II) .CSRP Established under the umbrella of achieving a smaller, affordable, well-compensated efficient and effectively performing civil service while PSRP stated objective was to enable the Public Service to deliver efficiently and effectively the Government’s economic and social programmes on a continuous and sustainable basis.

Both CSRP and PSRP aimed at

a) To change the mindset of the public service towards greater orientation for performance results and accountability. The theme of the program is ‘Enhancing Performances Results and Accountability in the Public Service’.

b) Ensure the delivery of quality public services within priority sectors conforms to public expectations for value, satisfaction, and relevance by the end of 2011

c) Improvement in the policy-making, processes and regulatory capacity of MDAs and Local Government Authorities (LGAs) that will contribute to a more predictable and well regulated environment for service delivery institutions and for private sector development.

d) Greater access to information and responsiveness to the demands of stakeholders as measured by feedback on client service charters that contributes to greater transparency and accountability of government and improved governance.

e) Efficient delivery of internal operational and administrative services MDAs; and Improved management of information and records that supports service delivery

f) Create and Maintain a Quality, Diverse Workforce which are capable to respond to the extensive and softcated needs of the people this done through Improvement in management of public servants, measured by the percentage of staff targets realized in MD

g) Create an organizational culture to support learning and growth to the public. The strategic emphasis is to transform the culture of public service delivery to that of demanding improved performance, with an emphasis on results and greater accountability

h) Develop systems and partnership by Reduced bureaucracy and red tape in the delivery of services by developing Systems and structures in place to enhance access and efficiency of service delivery;

i) Leadership Development through Building management capacity to develop staff.

CHALLENGES

Poverty and inequality remains a critical concern for Tanzania, with income levels still amongst the lowest in Africa. Between 1992 and 2001, the proportion of people living below the national poverty line fell slightly from 39 percent to 36 percent, while the number of people living below the international “dollar a day” poverty line was 58 percent. Strong sustained growth since 1995, of almost 6 percent per annum, have not yet been captured in the poverty estimates. While poverty today is likely below 2001 levels, the lack of data is a problem for policy making (Bourgon, J. 2008) .

Despite the immense advancements in all spheres of human activity, the increased global wealth, and the opportunities unleashed by globalization, the world today still faces great challenges. These in turn affect public administration in a number of ways. The State and its institutions are, in fact, increasingly subject to pressure both from the domestic and international arena. New challenges and old threats suggest that the State, especially in developing countries, needs to be strengthened and to operate differently from the past. The challenges that are affecting how the State operates and that call for major innovations in public administration

Environmental degradation poses significant challenges to public administrations world-wide. Economic liberalization and the lifting of barriers to trade and commerce in many countries around the world has provided the corporate sector with greater opportunities for investment and profit, as well as higher access to new markets, especially in the developing countries. The opening up of “new frontiers” has, however, also accelerated the depletion of natural resources and has produced higher levels of industrial pollution. Although, as is well known, environmental degradation is not a consequence of globalization per se, greater access to and exploitation of previously protected areas is creating further risks for the environment. Worldwide unsustainable consumption

The increase in migration of workers, especially from developing countries to the developed world, is posing serious challenges to public administration systems around the globe. Although migration is by no means a new phenomenon and is actually less extensive than in the past, it should not be underestimated and deserves to be addressed from a developmental approach. States must become more attuned to these new realities and find incentives to retain skilled workers within their borders, while also ensuring that social networks are in place to support workers who suffer sudden unemployment. (Bourgon, J. 2008)

Bridging the digital divide: Information technology opens new vistas for humankind. IT promises to improve our study, work and leisure. IT offers possibilities to broaden and accelerate the global integration of information networks , Currently, however, many developing countries and countries with economies in transition like ours are only passively integrated, . The unequal access to IT is creating what is known as the digital divide generally between rich and poor countries and also within countries. Technological penetration is still very low in Tanzania if compared to the developed world. Most enterprises in developing countries have neither the capacity nor the means to be active players in the globalization process. Challenge based on how to close the digital gap and create the opportunities for a wider participation of all people in the information age

The unsatisfied number of qualified public administrators is another major challenge to be faced by our countries. The problem got compounded by a need for these countries to assert their national sovereignty by Africanizing the services, recent research findings clearly demonstrate that investment in effective human resources management can make a decisive contribution to improving public sector performance. Empirical studies suggest that investment in human capital in the public sector is more likely to enhance the effectiveness of government than downsizing. Furthermore, in a competitive labor environment, characterized by changing demographics and rapid turnover, governments will increasingly have to develop effective strategies to recruit and retain a fair share of the best talent

Another challenge facing public administration is on how to improve efficiency, productivity, at the same time to ensure quality and service, this is a bid challenges to many government now days because the increase of productivity tend to decrease the quality for example is the secondary school in Tanzania as the government struggle to increase the number of student the quality of education offered to become low as the number increases.

The human rights situation remains unsatisfactory. The respect for the freedom of speech and association is not fully respected. The police use assault against suspected criminals and torture and infringements exist in detention and prisons. Gender based violence is a continuing problem and female genital mutilation is still practiced in some parts of the country. The Tanzanian society played a significant role in violating some fundamental rights by clinging to abusive practices such as forced marriages to girls, widow inheritance and killing through mob violence.

Corruption is still widespread, in spite of the national anti-corruption policies and instruments. Tanzania maintained its position in Transparency International Corruption Index between 2004 and 2005 (ranked as 96), despite Government’s apparent commitment to mitigate if not eradicate it, as demonstrated by recent increases in official support for the apex anti-corruption agency, the Prevention of Corruption Bureau. This condition undermines the national poverty reduction strategies and economic progress generally and retards the growth of democratic values of openness and accountability in the use of public resources. Although the Kikwete Administration appears to re-energize the anti-corruption agenda with fresh exhortations, the agenda requires a persistent and focused national attention to succeed.

Labour migration, The departure of a skilled migrant signifies a loss of investment in previous education and training for the country of origin as well as a loss of skills and experience that would otherwise provide future contributions to development, including future tax payments. In developing countries, it is important that this phenomenon be counterbalanced by “earn, learn and return” strategies to take advantage of the enhanced skills and experience of the expatriate population, with programmes to facilitate remittances and encourage migrants to return. In critical employment sectors, such as health and education, governments also need to adopt specific programmes and incentives to stem the tide.

HIV/AIDS. In some countries, particularly in sub-Saharan Africa, HIV/AIDS Tanzania in particular is having a staggering impact on the performance of governments. The management of HIV/AIDS issues in the work place presents many dilemmas. Mortality is only one aspect of the problem to be managed. Given that the disease normally affects younger adults and those in the most economically productive phases of their lives, HIV/AIDS has the potential to reduce the pool of prospective employees and economic productivity in many countries. in Tanzania public service it is estimated 13% employees are affected by the disease this create a big challenges to the Governments

Promoting public service integrity, ethics and professionalism is another challenge , quality service is not simply a matter of drawing boxes and moving employees from one to another, or even of exposing them to new management “skills” and techniques. Enhancing the quality and standard of service is also about attitude change – that is if “behavior modification” sounds too frighteningly Orwellian. The public, especially the poor, would in all probability welcome an era in which they could receive the services to which they are entitled without having to cringe before, bribe, or exchange favors with, public officials. There is at any rate a more serious reason for looking forward to zero-tolerance of corruption. (Caiden, G. E., 1994)

Way forward

A capable and democratic state is a prerequisite for success in overcoming the three broad

challenges discussed above. There is a great deal of empirical evidence in the economics

literature showing an important causal effect of good governance on economic outcomes and that Africa’s relatively weak performance in the 1990s (figure 3) on many governance indicators was an additional factor explaining the continent’s weak economic outcomes15.

For the state to discharge its legitimate functions, for civil society to flourish, and for the

private sector to function properly, a system of good governance is required that allows all

stakeholders in these sectors to play their respective roles and fulfill their respective functions.

Good governance is also required to ensure that the country’s economic and social priorities are based on the needs of society as a whole, and that broad based stakeholder participation is facilitated in the economic and political realms of the country. Good governance calls for the ability of a state to anticipate changes to its well-being, provide core services to its people and then augment these services, act as catalyst of change for the good, and guide the various forces in society towards harmony. “The very capable states in the word demonstrate how these tasks are artfully carried out”( O.Connell, Brian 1996). Building capable states as a means of promoting good governance is thus a key requirement for effectively confronting and overcoming Africa’s 21st century challenges.

Also flexible ,adoptable, learnable and forecasting government would help because the state institution will be in a position to learn both internal and external and if possible to change accordingly as situation requires. This will minimize some unnecessary risk the government facing

Conclusion

The need to serve citizens better has become one of the major preoccupations of public

Administration today and the government can no longer shoulder that responsibility alone. Social and human development needs have become complex and diverse and to address these complex and diverse needs some form of cooperative effort is required. Various players need to be brought into the public service delivery process to be able to contribute effectively to social and human development needs

Certified Management Accountant (CMA): A Certified Manager

Wed, 17 Feb 2010 22:23:20 +0000

By: sweet diana dawn p. paller

Certified Management Accountant is a global certification that one possesses a professional standard. Being a Certified Management Account entails that he has the ability to improve the efficiency of business operation and management, and has the capacity to manage the financial aspect of a business and make it better as well. CMA being a profession can make a wise analysis and judgment for the next step of development of a certain business.

Being a Certified Management Accountant is not an easy thing to do. One must examinations and proves the world of business that you are really good. Study shows that these CMA earn 25% more than those who are not certified. Having this certification is worth fighting for, because this certification says it all. It can boost you as an Expert Professional in your field and thus, earning a good amount of salary is always within your reach. Being a passer of the said exam could make you more confident and competitive in the field of job market. Certified Management Account has these tedious jobs like making operations and management, arranging for the finance, optimizing the management of a company, but having such profession is no regret, because you also earn an income according to what to deserve, that emphasized the benefit of being a Certified Management Accountant.

Once you are a CMA, you will hunt by many companies, in fact you may be search by the leading companies nationwide, because businesses and other organizations has a great trust to these CMA certified accounting professionals, not because they are equipped with knowledge about management particularly, but also because they have the ability to promote the overall performance of a certain enterprise, to have a strategic decision-making in accordance with the rapidly changing global economic environment. Pass the examination and be one of those Certified CMA and join the team in the field of business as someone who has the most advanced capabilities, skills and knowledge in the industry.

http://www.certificationmix.com/index?null

The Inevitability of Change – A Logistical History Lesson

Wed, 17 Feb 2010 22:22:40 +0000

By: Jonathan Grigg

Is it any wonder that, with the global economy doing back flips that business leaders look once again toward Logistics and Supply Chain to ensure survival? Flexibility and cost effective performance has always been the realm of the logistician. It has been this way down through the ages and will continue until the end of time. To explain let me take you briefly on a journey back through some of the origins of logistics.

Back before Mobile phones and Computers, back even before the days of the industrial revolution. The time I want to take you back to is around 105BC, the place the Silk Road. The “road” that linked the west to the east for more than 800 years. We speak today of globalization, and some may even think of it as a radically new idea. Truly there is nothing new under the sun.

The Silk Road, the name given to a group of trade routes that linked East Asia with Europe. The name implies silk trade took place, but many more commodities than just this were moved. From the raw materials; Gold, ivory, precious stones etc, to finished goods; vases, pottery, clothing and jewelry, the trade was abundant.

Product is one thing, but we are here to talk process. The processes and issues facing our counterparts way back when are still present today, they may have had slightly different outward appearance but in the end the same core issues were present. Scrutiny of operations, Risk management, Specialization and finally Flexibility and Courage to adapt, are some of the issues faced both then and now.

Scrutiny of Operations

From the outset cost effectiveness was a prerequisite for the silk trade route to come into being. Roman commanders, wanted to ensure a fair price was paid for the silk, and so they reviewed the route, scrutinized the operations and conditions and determined that the various carriers were operating with relative efficiency considering the environmental factors.

Logistics is an area which will forever be scrutinized, as long as there is business that requires the movement of goods and services, people will always want to know that it is efficient. Get use to it, besides what it mean is that we have the opportunity to constantly be pushed to achieve our best, the continual pursuit of excellence, and if that’s not enough other people will help with some of the investigation work.

Risk management

Not long after trade began several risks presented themselves to the logisticians. Mitigation and minimization were the charter. Environmental risks were already known and understood, the new risk was that of raiders.

Again the logistics team carefully considered their alternatives and while some assistance was provided by the local governments of the day, who had much to loose if the trade route was closed(sounds familiar), the teams determined that mobile defense forces would be required. Costs were increased, margins probably cut a little and risks were managed.

Again there is nothing new under the sun. Risks will crop up and we will have to manage them no matter what form they take. And I know what you are thinking; yes there will be someone there to scrutinize the changes to operations and make sure that they are still cost effective.

Specialization

The Silk Road covers some very extreme environmental conditions and while carriers stood to make increased profits the further they were able to move the products, so to their cost and risk profiles changed. Carriers not so familiar with the mountain regions risked losses due to the need for specialized knowledge. As such various carriers specialized in certain sections of the route. By specializing the carriers were further able to drive efficiency into their part of the supply chain (by this stage the Roman empire had collapsed so it was reviewed by other interested parties but reviewed none the less)

Flexibility to adapt

In the later part of the 7th century the Silk Road traders had another challenge to face; this time, technology. The development of sea trade, safer more reliable sea going vessels, offered an alternative to the land route. Raiding became less of an issue (until pirates got clued in, this resulting in the use of different risk management techniques), cost structure changed significantly as there was no need to feed the vehicles (wind is free, camels cost hey…J ) and less intermediary handling requirements, therefore less fees.

The flexible logistician survived and moved to the sea, leveraging their land based operations in connection with the new more efficient sea operations; the inflexible logistician died.

Courage

This move took courage not because the technology was untested, but because the short term infrastructure costs were so high compared with the historical model. A paradigm shift was needed and then capital was required to keep the ball rolling. This sounds much like the current considerations our nation and industry leaders are working through. What are the most pressing infrastructure challenges that our economy needs us to address.

I don’t profess to have the answers though I do know this. Being willing to stand and accept that there is a need for change is one form of courage. And this we have already seen of our political and industry leaders. It is the next steps that will determine the future of our industry.

While life offers few guarantees, there are some. The presence of courage doesn’t guarantee success, the absence of courage does have it’s guarantees.

Business, Multiple Disciplinary Skills Required

Wed, 17 Feb 2010 22:15:45 +0000

By: Jasbir Kaur

Online Businesses, unlike many on-site businesses, require entrepreneurs to not only have a background in business, but also computers. Yes, on-site businesses function on computer systems, too, but they don’t rely solely on computer technology for their operation. No matter how shrewd or savvy an entrepreneur may be, if s/he doesn’t have a strong grasp on how computer technology works regarding ecommerce; the utilization of marketing strategy through online systems; hypertext languages; a knowledge of other forms of software, such as Adobe, Flash and Java; and other essential aspects of business networking, the online business is sure to fail.

This is why a whole new type of business study has emerged in recent years: Online business. Yes, double majors in Computer Science and Business would prepare those who wish to primarily work online, but business schools now have incorporated a computer-oriented dimension to their programs on all levels, not only because computer technology has become an important integration in society in general, but also because online businesses, revolving around ecommerce, have become a prominent and necessary community in the overall scheme of global business altogether. It is crucial for all business students to know about computer technology, whether they intend to eventually work online or not. Many on-site businesses today are also available online, so Internet interaction is inevitable for everyone involved in business.

As it stands now, any business person who is unable to maneuver successfully through online communities is likely already destined to fail. Such graduates from Business schools are arguably incomplete in their learning. It can also be argued these days that those who learn about online business first are likely the more valuable because of their technical capabilities. Computer technology is just as appreciatively vital and important in business as it is in Computer Science, and every single business, whether online or offline, will be looking for those with such experience, inclusive and/or aside from any academic achievements.

Those who wish to set up their own business site must know how to establish and work through online banking systems; download software an files essential for business site management like templates and tutorials, upload files, such as image files; moderate forums for technical support; integrate registration and merchandise ordering software for interactive purposes; write in basic HTM, HTML, PHP and/or other hypertext languages; incorporate clipart and icons applications as necessary; and effectively initiate advertising and other marketing strategies. Conducting online business is much different than offline because the community in which it thrives operates according to its own distinct set of rules and mannerisms. Being able to maneuver through the landscapes constructed by such distinctions with ease and to one’s own advantage will lead to success in that community. This is even true for the Internet.

It can also be argued these days that those who learn about online business first are likely the more valuable because of their technical capabilities. Computer technology is just as appreciatively vital and important in business as it is in Computer Science, and every single business, whether online or offline, will be looking for those with such experience, inclusive and/or aside from any academic achievements. Anyone in business having both academic degrees and experience with Internet technology are understandably most ideal.

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The Three Factors of Investing

Wed, 17 Feb 2010 22:13:59 +0000

By: Chad Sunyich

In part one, we discussed how time is by far the dominating factor in investing, but we only have a limited amount of time and time is not easily doubled. We also learned that interest rates are somewhat of a moving target, unless they are fixed, but no high-return investment is ever fixed. This leads us to the last factor of investing or the amount of money you can afford to invest.

The amount of money you can contribute is the only factor that can be significantly changed, without taking on uncontrolled risks. I know what you are thinking, “What if I don’t have that kind of extra cash flow to invest? The answer to this question is: How much do you spend per month to service your debt? How much do you pay each month for your home mortgage and other consumer debt (i.e. credit cards, line of credit, etc)? And what about auto loans, don’t forget to include your spouse’s car or truck too?

The average American family spends around $2,000 per month servicing their existing liabilities, or debts, and if they don’t add any additional debt they are likely 25 to 30 years away from being debt free. Now think about the amount of money that you pay each month? What if you didn’t have debt payments each month? What if you were completely debt free? Now how much money would you be able to invest? If the average person were to really stretch their finances, they could afford to invest about 1/10 of what they pay each month towards debt elimination. For example, if you were paying $2,000 each month towards debt elimination, then a $200 monthly investment would be about all you could afford. Now consider if you have $2,000 in debt payments per month and an average interest rate of 15 % plus working against you for the next 25 to 30 years? And how can you even hope to outpace that kind of leverage with a $150-$200 investment at 6, 8 or even 12 %? The answer; YOU CAN’T!

There is hope! If you use the wealth knowledge you’ve just gained then watch what you can do. The average household spends approximately $2,000 per month in debt elimination and we will assume that this family is currently investing $200 per month. Now, follow along on the graph and keep this in mind as our starting point: $200 per month at 6 percent interest for 30 years is about $200,000. Not a bad return. But what if you first eliminated your debt in 15 years and invested the full $2,200 for the remaining 15years? That’s over $640,000. That’s a difference of $440,000! Now, what if you eliminated your debt in 10 years and invested the $2,200 for 20 years? That’s over one million dollars and a difference of $800,000! Now you can invest with confidence, security and substantial leverage.

Please visit www.idealfsi.com to learn more about building wealth and eliminating debt.

The author Chad Sunyich says here about The Three Factors of Investing giving wonderful calculations with example showing expenses, liabilities, debt elimination, etc. for an average American family. To know more on Credit Score, Consumer debt, credit card debt, financial freedom, credit report, Retirement, Retirement speeches, visit www.idealfsi.com.

Startup Essentials — The 5 Best Ways to Spend Startup Money

Wed, 17 Feb 2010 22:13:16 +0000

By: K. MacKillop

Finding ways to spend startup capital is easy, but there are a few things that should be included in every new business’s startup budget. The top five are:

Startup Essential #1 — Protecting Your Business

Setting up your legal obligations and protections correctly from the start is critical to building a successful company. It can be tempting to put off registering your entity (LLC or Corp) or paying for a business license until you start making money, but delaying is not the best option. Not only do those expenses keep you out of potential trouble, they also protect your personal assets from the liabilities of the business. Business insurance is another critical protection for any startup. Even home-based, one-person businesses should look in to small business insurance. The premiums should be pretty reasonable, and the protection can be invaluable if something goes wrong. Starting without setting up the right protections can also be a slippery slope…if you are okay for a month without paying those expenses, why not two? Or six? The longer you delay, the more you put your business at risk. Do your homework so you know exactly what is required for your business, and get it all squared away before opening day.

The total cost of registering your business depends on the state you are in. Entity registration ranges from a couple hundred dollars total to around one thousand, if your state (like California) includes exorbitant franchise fees. Business licenses and tax certificates are generally pretty cheap, under $100 in most areas. Business insurance varies greatly depending on your industry and coverage limits.

Startup Essential #2 — Small Business Software

Every modern business must have computers and the right software tools to minimize risk and maximize profitability. Without question, every small business should use a reputable accounting system. Peachtree is the best on the market for those who plan to grow the business. Don’t rely on the freebie downloadable versions any longer than absolutely necessary as they do not include the accounting tools that help to track and analyze profitability. In addition, your business should have an office suite, such as Microsoft Office, that includes a word processor, spreadsheet, and other programs. Contact management software is also important — your best marketing returns will come from the customer list you build yourself. ACT! is the best choice and is relatively easy to use. Other useful programs include office form templates, employee management software, and point-of-sale software that works with your Accounting system if you run a brick-and-mortar store.

Budget at least $500 to $1000 for the software you will need. Peachtree’s basic small business program is around $200, ACT! around $230.

Startup Essential #3 — Marketing Tools

Every business should plan to invest in at least two key marketing tools prior to startup — business cards and an internet presence. Business cards are still the primary means of networking…even employees of the largest online businesses all have business cards. You can get a couple of hundred for free through several print shops, but they will go fast. Select a high-quality paper and be sure the design and logo impart the image you are trying to develop. A web presence is an absolute necessity. You will need to purchase a domain name and web hosting service, as well as select software to build your web pages. The website software has come a long way — if you have basic computer skills, you can build a good website. This is not a place to scrimp and save. There are “free” web hosting services, but they are unreliable and flash built-in ads on your web pages. On the other hand, most businesses do not need a professional web designer to come up with a good site. Try the software and talk to the people you know…one entrepreneur we know mowed his web-savvy neighbor’s lawn for him while the neighbor put together a basic website using the entrepreneur’s software. Fair trade and everybody was happy.

Altogether, expect to spend at least $250 on just these marketing materials. Most businesses need to spend far more to market successfully, but business cards and a website are a good start.

Startup Essentials #4 — Time-Management and Organization Tools

Every entrepreneur needs a system for managing time and staying organized. Your time will be divided randomly among 582 different things every day, so the more organized you are, the better. Start with a daily planner. Look for one that is customizable (like the Uncalendar) so that you can develop the best time-management system for you. Develop a system for listing and prioritizing tasks and setting aside blocks of time to work on important elements of your business such as the marketing plan and managing the finances. Your planner should also include space to collect information about your business and competitors, your networking contacts, and any other critical data. A full-size (8 ½ x 11) planner is far more effective than the smaller ones. Get started using your planner as soon as possible so that the habit is ingrained by the time you are buried under business responsibilities! Also include tools for keeping paperwork, supplies, and product organized…you will have too much to do to waste time searching for what you need!

A good time-management system should run about $50 to $100, organizational tools will vary (file cabinets, etc.).

Startup Essentials #5 — Information

As the owner, you will need to know all the details of what you are doing. From the legal setup to your target market, from your product specs to your store or website’s traffic patterns. First-time entrepreneurs tend to underestimate how much time and effort it will take to get up to speed on all of the aspects of business ownership. But, taking control by attending to the details yourself will reduce your risk and increase your chances of great success. Once your venture is up and running, the learning should continue. Stay on top of news and innovations in your industry, read biographies of successful entrepreneurs, read up on the latest marketing opportunities. While it is easy to answer a specific question through the free content available on the web, most entrepreneurs will need to spend some cash for tools (books, trade associations) to ensure the business gets off to the right start by covering every critical aspect of a successful startup.

Include at least a few hundred dollars into your startup budget, but the amount will vary depending on the type of business you are starting and the depth of planning you will do. Remember that the better you plan, the lower your risk. Add a monthly budget amount for continuing education such as books, industry magazines, and the like.

K. MacKillop, a serial entrepreneur with a J.D. from Duke University, is co-founder of LaunchX LLC and authors a small business startup blog. The LaunchX System, a five Unit series of step-by-step business startup procedures, key business software, and marketing reference books, is designed to assist entrepreneurs in developing a business idea into a successful company. Visit LaunchX.com and get on the road to business startup today.

Do-It-Yourself Debt Management

Wed, 17 Feb 2010 22:12:05 +0000

By: Dave Galahad

Debt Management is now made easier than ever in big part because of competition between financial institutions. Many checking accounts offer no minimum balance and free online bill pay, free transfer of funds between accounts, among other features in order to gain new customers and retain current ones.

This is simple to achieve in the following 10 steps. All you have to do is follow a simple plan and monitor it from time to time. Before you know it, you’ll be out of debt completely. You’ll pay no credit counseling fees, no debt management or debt consolidation fees. This option is a little less stressful because there is only one day per month you have to remember to make a payment; and depending on your consolidation method, it could bring you lower interest rates so you can pay off debts quicker.

1. Make a list of all your bad debts: include “creditor” “amount owed” “minimum monthly payment” and “number of months to pay off” (divide the total owed by the minimum payment).

2. Rank each debt based on the number of months to payoff. Debt #1 will be that with the least amount of months to payoff. Debt #2 will be the next lowest number of months to payoff and so on.

3. Evaluate your income and spending habits and come up with an extra $150 to $200 per month. –Take your lunch – $5/weekday to eat out adds up to $100/month. –Coffee – drink it for free at the office. –Specialty coffee drinks – $4/day for a coffee drink for a month adds up to $80/month. –Tobacco – Cigarettes cost approximately $23/carton. If you smoke 2 packs a day, that carton will last you 5 days. Your monthly cost of this habit is $138. Quitting would be best but if that’s not an option, cutting back will save you money on cost of cigarettes which can be put toward your debt plan. –Check your other fixed monthly expenses to see if you can reduce them further and put the extra money toward paying off debts. –Use these things for rewards for reaching milestones in your debt management plan instead of crutches to get you through the day. Pay off your debts with the extra money.

4. Open a separate checking account from your personal account(s) – needs to have free online bill pay, no minimum balance, and be able to accept funds transfers from your personal checking account. If you can get an interest bearing account with the above-mentioned features, that would be outstanding.

5. Determine the minimum amount you need to pay on each debt.

6. Set up an account transfer from your personal checking account to your bill pay account for the amount you came up with in step #5.

7. Set up your automatic bill pay for each creditor so that the funds leave your bank and arrive at your creditor a few days before the due date. Pay the minimum amount on all the debts numbered 2 through the end of the list.

8. On debt #1, pay the minimum plus all the extra cash you came up with in step #3.

9. Focus on debt #2 once debt #1 is paid off, using all the income you were using to pay on #1.

10. Repeat this process until all the debts on your list has been paid in full. Also, once all the debts are paid, leave the monthly transfer in place and make the money you’ve saved to this point work for you instead of the other way around.

The key to this plan is to not take on any additional bad debt, remain laser focused on paying off debts and using extra income you can come up with for the cause. At least once a month you should monitor your plan to make sure the payments are being made on time, and everything else is going according to schedule.

Dave Galahad is a freelance writer for ABCMoneySource.com on topics of banking, finance, investing, credit, savings, and debt.

Is business ownership right for you?

Wed, 17 Feb 2010 22:10:36 +0000

By: Andrew Rogerson

The reality of the current downturn in the economy is that many companies will need to restructure to create the private sector jobs President Obama is talking about. At the time of writing this article there is 7.2% unemployment or the good news, 92.8% full employment. That’s good news if you’re one of the 92.8% but bad news if you’re one of the 7.2%. And these are national figures so if you live in some States in the US the unemployment rate is higher.

Regardless of your local unemployment statistics, if you have lost your job or are concerned your company may downsize but you need to make some money to put a roof over your head, feed the family, buy the gas to get around plus all the other things you need to do in life, perhaps you are thinking it’s time to get off the employment rollercoaster. This means putting yourself in control so you can work the hours you want, work in an industry you want to be part of and ultimately be in control of your own destiny. If that makes sense, what are your options?

The three options of business ownership

If you think business ownership may be an option for you, there are basically three choices. Option one is to start your own business. This means you have to come up with a creative new idea, test it to make sure there is a commercial market for your idea, and then once you get enough feedback, build and execute a business plan. This plan not only needs to ensure you make enough money to pay the costs of running your business and personal needs but also cover any debt you’ve incurred while you created, tested and deployed your idea.

Option two is to buy an existing business that has any of the following three goals. Your first goal could be to find a business that’s not doing well, determine the reason it is underperforming and then put in place the changes to have the business head in a positive direction. Your second goal could be to look for a business that’s holding its own and simply take the place of the existing owner with the expectation of enjoying the life style of this business owner. The third goal could be to look for a business that’s growing well but bring your skill set, new energy and capital and either continue the growth of the business or considerably add to it.

The third and final option is to buy the rights to a new franchise. Just so I am clear, you could always buy an existing franchise and continue its current ownership but this is really a variation of option two above. New franchises are appearing on the market all the time in a diverse range of industries and formats. At last count I had franchises in 84 different industries such as accounting, automotive, animals/pets, beauty care, building materials, children’s education, clothing, transportation, travel, upholstery and wholesale etc while the formats range from Business to Business (B2B), Retail, Home based etc to name a few. The option of buying a new franchise tends to appeal to those who have worked in Corporate America but decide to look elsewhere for their future. The best advantage of a franchise for a new business owner is that it brings a system or business model that has had the wrinkles ironed out; similar to the model used in Corporate America. The franchisor has proven the business model, fine tuned the systems, built the training for the franchisee, knows what accounting systems to use and has these up and running and is looking to re-create these business models across the US and often into Canada and Mexico, and around the world.

Understanding risk

The bottom line is that you have many options with the final option you choose to make based on your risk tolerance. When deciding whether to start your own business, buy an existing business or buy the rights to a franchise, the level of risk will be one of the major decisions you need to evaluate. Your comfort with which option to choose will also depend on a number of variables. These include how much money you have to invest, the skill set the business requires and how closely this matches yours. Another major factor includes your financial status. Do you need to borrow, what is the condition of your credit score and, is your credit report acceptable to a lender? It may also ensure your background doesn’t preclude you from business ownership due to a criminal record or other circumstance.

What’s the next step?

If you’ve read the above and think business ownership is right for you or you would like to know more, your next steps are to become more educated so when you get to make that final decision whether you will or will not go into business ownership, you have as much information as possible. For this reason I have written three guides to help those considering business ownership. These guides are respectively called – Successfully Start Your Business, Successfully Buy Your Business and Successfully Buy Your Franchise: Expert Advice from a Business Broker. I’ve personally been in business ownership for 25 + years having owned and operated 5 businesses; two in my native Australia and now three in California. I still remember the fear and sleepless nights deciding whether to buy my first business and relocate to a new city with my 6 months pregnant wife. But as I look back, business ownership provides a wonderful set of experiences and skills I would never have known if I didn’t recognize and manage the risk that comes with business ownership. There is no question; business ownership is not for everybody. But business ownership is a skill to acquire and once it’s acquired brings about opportunities those working a job never see. Plus one of the rewards to it all is that it puts you in control so when you go through recessions you have the capacity to succeed.

Importance of your Buyer Profile

Before you start looking at business ownership, know your Buyer Profile so it reduces your chance of failure or giving up because you are burnt out from the process. For most new business owners, naturally enough their goal is to find the perfect business. This makes sense but it only makes sense if you know what you want but I also think “perfect” is too high a standard. Businesses are dynamic and constantly changing. This is because it is primarily dealing with people, whether they are owners, family members, customers, employees, lenders, landlords or government agencies. Look for what you want, but make sure your criteria is not too high.

So how do you know what business to look for? The answer to this question is by building and creating your personal Buyer Profile. Most buyers are not sure where to start the process. From my experience from buying and looking at many businesses and working with a large number of new or potential business owners the first step is to start with yourself. Most buyers don’t do it because they don’t know what they are looking for and expect it will reveal itself to them as they start their search process. If this is what you choose to do it will increase your chances of failure as there is no such thing as the perfect business plus each buyers profile is unique. It is unique because there are so many variables. The variables include levels of education, amount of downpayment to buy a business, credit scores, credit report, business and life experiences, management experience, family support, personal situation such as being single or married with 4 children to support and most important of all, the location where you live and the opportunities available. If you come to your decision to look at business ownership and you are fresh out of college your frame of reference is really the subjects you studied in college and your life and business experiences. If you’re a 40 year old executive who has worked in Corporate America in the technology field for the last 10 years as a sales manager, but in your earlier years worked in retail books and the travel industry, you have much more diversity to pull from.

Your Buyer Profile is a critical starting point for you. I normally spend about two hours with each client before introducing any business opportunities to them as I want to get a basic level of understanding of the industries of interest to them and their preferred format such as whether they like retail, Business to Business (B2B), Food, Automotive or, Children’s services etc plus an extensive range of other questions. If the buyer knows what they do and don’t like it allows them to focus and thereby greatly increase their chances of finding the business they want.

If you would like more information about each of the books mentioned above, please visit the following website http://www.successfullybuyyourbusiness.com where you will find a brief description of each of the guides. If you would like some free tools to work with, please visit my website: http://www.andrew-rogerson.com/samples.htm. On this page there are some Excel and Word files such as a Business Plan, Sales and Marketing plan, Startup Budget planner and Cash flow projection etc. Download and use these free tools as much as you need.

The rewards to business ownership for each person are unique and real. If you think business ownership right now with the economy in recession is not a good option, I would disagree. The economy is constantly changing and looking for new ways to invest capital and provide a return on investment. Some areas of the economy are about to explode such as health care, businesses in energy efficiency, the “green” industry and, new technology innovations to name a few. It will take time to research, create and execute a plan and then explore any other options available to you. Making the decision to take the risk is the hardest part. Once that is done, the rest takes care of itself. If you think business ownership is part of your future, learn as much as you can, accept it comes with risk and get on with it as the rest will be up to you. Whether you stay in your current job, find a different job because you aren’t enjoying what you are doing or move into business ownership, at the end of the day it’s still all up to you and how you manage the risks that come from each decision you make.

Andrew is a 5-time business owner that loves helping entrepreneurs exit or enter business ownership. His services include business brokerage; helping owners sell and/or buyers purchase a business. He also provides consulting on purchasing a franchise, certified machinery and equipment appraisals and business valuations. To ensure this is done to the highest standards, Andrew carries the CBI designation from the International Business Brokers Association and the CBB from the California Association of Business Brokers. Appraisals for Machinery & Equipment are certified with the CMEA designation from the NEBB Institute. Andrew carries a Brokers License from the California Dept. of Real Estate, is a member of the Sacramento Metro Chamber of Commerce and the Sacramento Chair of the California Association of Business Brokers. Andrew is available for speaking engagements.