Very few people will claim they are bringing enough money home to meet all their needs and wants. Several will begin a home business to supplement their income while remaining at the full time job outside. This can take a toll on the personal life as well as the health of just about anyone running a home business and working full time outside the home.
One of the first considerations should be whether or not the home business in conflict with the full time job as many employers will not tolerate competition from one of their employees. For example, a person working in a retail environment in nearly any capacity may find themselves in conflict with company policies if they begin an online retail outlet. Or someone working for a carpet cleaning company starting a home business offering cleaning services part time as a home business. Being in conflict often forces the employee to make a choice of keeping their full time job or finding work elsewhere.
There are many home business opportunities available that will not conflict with outside work environments, but the time involved in operating the home business will need to examined to determine if it can be done effectively while working full time. The business operator will only have limited availability as well as time to spend on the business and the time needed to run the business will have to be reallocated from another part of the day.
A person with a family will need to know that any time needed to run the home business will have to come from time usually used for family functions or just spending time with the wife and kids. The full time employer will not tolerate someone spending time on their home business while being paid so dividing the time between work, running the business and family may or may not be worth the extra income from a home business.
In some cases, there are home business opportunities that require little time and enable it to be run at the convenience of the owner. With these jobs time can be arranged in which to run the business without losing time with family and friends, although sacrificing sleep or relaxation time may be necessary. Overall, there will be some sacrifice of time and personal involvement when running a business and working full time outside the home.
Time management will be essential in creating work-life balance as well as remaining organized so as not to allow important aspects of work, home business operation and family slip through the cracks. A single schedule guiding the commitments for all obligations will be needed in order to accomplish everything that needs done and to stay ahead of the work.
----------------------------------------
Article sourced from: http://www.articlecity.com/articles/business_and_finance/article_5971.shtml
Showing posts with label Money. Show all posts
Showing posts with label Money. Show all posts
Monday, 9 July 2007
Tuesday, 26 June 2007
The Growing Wave of Bankruptcies
Are you fond of using credit cards? If you are then I know you are aware that you have to be careful when using them. I’m a big spender and I often use credit cards to buy any item that catches my fancy. The problem is that I was getting so carried away with my shopping that I did not realize that I accumulated close to $20,000 in debts. As a result of my spending habits, I was having a hard time keeping up with paying my monthly bills. I was so worried with my predicament that when that new laws for bankruptcies were being passed, I was tempted to file.
Since the deadline for filing bankruptcies before the implementation of the new laws was approaching and I have yet to make a decision about filing, I decided to talk it over with my husband. After a long discussion I decided that I would not do it. I realized that I have to take responsibility for being careless with using credit cards. My conscience just couldn’t bear taking the easy way out. I was disgusted when I heard that a friend chose to file despite only having a few thousand in debts. They even have the nerve to purchase a brand new car and to go on a cruise on some tropical island before they filed. Since they charged the car and the cruise, they were able to enjoy them for free.
News about the passing of the new laws caused a 30% increase in the number of bankruptcies filed in 2005. More than two million people filed for personal bankruptcies, making it the highest number ever filed in a one year period. Those statistics means that millions of people found themselves in deep financial trouble last year. A number of reasons have been given for having severe debts including job loss, credit cards, and medical bills. Among them high medical bills seems to be the most frequent cause of huge debts. It just goes to show how important it is to have adequate health care. A major accident or illness can quickly put you into insurmountable debts.
Hopefully the new laws will be able to discourage people from taking advantage of filing bankruptcies. They should encourage people to be more responsible with their money. Filing will not bail them out from spending money on unnecessary furniture or luxury cruises. On the other hand the laws can also make it tougher for people who acquire uncontrollable debts from unexpected mishaps. Be more responsible with using credit cards and make sure that you keep an eye on your financial situation to avoid the complications of filing for bankruptcies.
--------------------
Article sourced from: http://www.articlecity.com/articles/business_and_finance/article_7892.shtml
Since the deadline for filing bankruptcies before the implementation of the new laws was approaching and I have yet to make a decision about filing, I decided to talk it over with my husband. After a long discussion I decided that I would not do it. I realized that I have to take responsibility for being careless with using credit cards. My conscience just couldn’t bear taking the easy way out. I was disgusted when I heard that a friend chose to file despite only having a few thousand in debts. They even have the nerve to purchase a brand new car and to go on a cruise on some tropical island before they filed. Since they charged the car and the cruise, they were able to enjoy them for free.
News about the passing of the new laws caused a 30% increase in the number of bankruptcies filed in 2005. More than two million people filed for personal bankruptcies, making it the highest number ever filed in a one year period. Those statistics means that millions of people found themselves in deep financial trouble last year. A number of reasons have been given for having severe debts including job loss, credit cards, and medical bills. Among them high medical bills seems to be the most frequent cause of huge debts. It just goes to show how important it is to have adequate health care. A major accident or illness can quickly put you into insurmountable debts.
Hopefully the new laws will be able to discourage people from taking advantage of filing bankruptcies. They should encourage people to be more responsible with their money. Filing will not bail them out from spending money on unnecessary furniture or luxury cruises. On the other hand the laws can also make it tougher for people who acquire uncontrollable debts from unexpected mishaps. Be more responsible with using credit cards and make sure that you keep an eye on your financial situation to avoid the complications of filing for bankruptcies.
--------------------
Article sourced from: http://www.articlecity.com/articles/business_and_finance/article_7892.shtml
Tuesday, 12 June 2007
Getting the Most Return from Your Sales Time Investment (ROI)
Another good read on investing from Article City...
--------------------
Getting the Most Return from Your Sales Time Investment (ROI)
by: Joe Leech
Let's face it: you are probably working for far less than you need to. And the sad thing is, you may not even be aware of it or the options you have! As of now, we're going to change that for you, and possibly share with you not only a thought but a vehicle that can change your financial life.
We are going to show you how to get much more out of your sales time investment.
This probably applies more to the part time, home based business person than the professional...but we have seen, met, and talked with professionals who really are under- valuing their return on time investment. I know.. we are using that "time investment" word alot all ready. But you MUST consider it just as you do a cash or money investment.
In fact, it's even more important because once spent or invested, you can't ever get that particular moment or minute back. It's gone. You can always invest more money, but you only have so much irreplaceable time. Your sales time investment is one of the most precious ones you can ever make.
As we look at business models, we find on one end, the model that proposes high volume but low profit per sale.
Walmart has certainly shown this works, and many, many, many supermarkets work this same way. It will work if you have the ability to create large volumes of sales. The question is: Do you. If you are a individual sales rep or a small business, just how much of an opportunity do you have to create really large volumes. The appeal to the small business person is to do this by creating some type of a multi-level (also and probably incorrectly referred to as a pyramid) sales organization. In the ideal world, IF you can do this, you can create volume. But this could take years to accomplish, and still never guarantee any income or security because (1)The company behind it could go out of business, be taken over.. or any number of things, (2) The pay plan could change, or (3) The group suddenly dissolve, particularly if or when a heavy hitter or group leader decides to switch to another business and takes his distributors or sales force with him. Did you make a good sales time investment if you chose this model?
Of course you still have the ability to sell the product or service yourself, but (1) Can you do volume, and (2) Is the profit per personal sale worth your time?
The second business model, at the other end of the spectrum, is one that provides a relatively high profit or earning per sale. Sometimes we think of real estate people and car sales people in this category, as well as sales people of specialized capital equipment. But that's not the majority of us.
The downside here is that if we are thinking about selling a high ticket/high profit item, we have to ask (1) Is there a large market and prospect base? and if we are thinking in terms of an ability for a part time person--possibly a "stay at home mom", can this high ticket, high profit product or service be first mastered in terms of the technology, and second, is the customer prospect base readily accessible?
In most cases, the answer to those two questions is "no, not available".
But if it is or was, then here's a fact that can be virtually carved in stone:
IT TAKES NO MORE TIME OR SKILLS TO SELL THE HIGH PROFIT PACKAGE THAN IT DOES TO SELL THE MASS PRODUCT WITH ONLY PENNIES OR DIMES IN PROFIT!
Think about that! This is ALL relative to your sales time investment, and once more: It's the MOST IMPORTANT investment y ou have to make.
Ask yourself: "Am I working for pennies or dimes when instead with the right vehicle I could be working for dollars?"
If the answer is yes, and this is so true of particularly home based business entrepreneurs who are involved in sale of nutritional supplements, skin care, fad gadgets, etc., then ask yourself, "Am I doing this because I want to earn a nice income, and do it as quickly as possible... or am I kidding myself about that goal and I just want to get products wholesale or discounted and have some fun?"
Nothing wrong with that, by the way, if you have an hones assessment of what you are doing and why.
But..... If your goal is in the area of $4000-$5000 a month or more, and you also don't want to spend all your waking hours "working your business", then it's time to change.
As your article writer, I can tell you this is an article written from the school of hard knocks and one that really had us so emotionally involved with the businesses. Rah rah rah; recognition, pins, etc. Amway. Free Life. Primerica.
Herbal Life. Been there, done that. Made some money? Yes, but far, far, far less than in other options. And that's just the part time side of things we did to supplement our "real" job. Made some money, but had no security, and worked for far less than we could have been doing. Plus we just sold our time for money there. No residual income.. but that's the subject for another article.
We hope this has helped you focus some thinking and our resource block will point you to one tool that will let you change your life.
--------------------
Article sourced from: http://www.articlecity.com/articles/business_and_finance/article_8365.shtml
--------------------
Getting the Most Return from Your Sales Time Investment (ROI)
by: Joe Leech
Let's face it: you are probably working for far less than you need to. And the sad thing is, you may not even be aware of it or the options you have! As of now, we're going to change that for you, and possibly share with you not only a thought but a vehicle that can change your financial life.
We are going to show you how to get much more out of your sales time investment.
This probably applies more to the part time, home based business person than the professional...but we have seen, met, and talked with professionals who really are under- valuing their return on time investment. I know.. we are using that "time investment" word alot all ready. But you MUST consider it just as you do a cash or money investment.
In fact, it's even more important because once spent or invested, you can't ever get that particular moment or minute back. It's gone. You can always invest more money, but you only have so much irreplaceable time. Your sales time investment is one of the most precious ones you can ever make.
As we look at business models, we find on one end, the model that proposes high volume but low profit per sale.
Walmart has certainly shown this works, and many, many, many supermarkets work this same way. It will work if you have the ability to create large volumes of sales. The question is: Do you. If you are a individual sales rep or a small business, just how much of an opportunity do you have to create really large volumes. The appeal to the small business person is to do this by creating some type of a multi-level (also and probably incorrectly referred to as a pyramid) sales organization. In the ideal world, IF you can do this, you can create volume. But this could take years to accomplish, and still never guarantee any income or security because (1)The company behind it could go out of business, be taken over.. or any number of things, (2) The pay plan could change, or (3) The group suddenly dissolve, particularly if or when a heavy hitter or group leader decides to switch to another business and takes his distributors or sales force with him. Did you make a good sales time investment if you chose this model?
Of course you still have the ability to sell the product or service yourself, but (1) Can you do volume, and (2) Is the profit per personal sale worth your time?
The second business model, at the other end of the spectrum, is one that provides a relatively high profit or earning per sale. Sometimes we think of real estate people and car sales people in this category, as well as sales people of specialized capital equipment. But that's not the majority of us.
The downside here is that if we are thinking about selling a high ticket/high profit item, we have to ask (1) Is there a large market and prospect base? and if we are thinking in terms of an ability for a part time person--possibly a "stay at home mom", can this high ticket, high profit product or service be first mastered in terms of the technology, and second, is the customer prospect base readily accessible?
In most cases, the answer to those two questions is "no, not available".
But if it is or was, then here's a fact that can be virtually carved in stone:
IT TAKES NO MORE TIME OR SKILLS TO SELL THE HIGH PROFIT PACKAGE THAN IT DOES TO SELL THE MASS PRODUCT WITH ONLY PENNIES OR DIMES IN PROFIT!
Think about that! This is ALL relative to your sales time investment, and once more: It's the MOST IMPORTANT investment y ou have to make.
Ask yourself: "Am I working for pennies or dimes when instead with the right vehicle I could be working for dollars?"
If the answer is yes, and this is so true of particularly home based business entrepreneurs who are involved in sale of nutritional supplements, skin care, fad gadgets, etc., then ask yourself, "Am I doing this because I want to earn a nice income, and do it as quickly as possible... or am I kidding myself about that goal and I just want to get products wholesale or discounted and have some fun?"
Nothing wrong with that, by the way, if you have an hones assessment of what you are doing and why.
But..... If your goal is in the area of $4000-$5000 a month or more, and you also don't want to spend all your waking hours "working your business", then it's time to change.
As your article writer, I can tell you this is an article written from the school of hard knocks and one that really had us so emotionally involved with the businesses. Rah rah rah; recognition, pins, etc. Amway. Free Life. Primerica.
Herbal Life. Been there, done that. Made some money? Yes, but far, far, far less than in other options. And that's just the part time side of things we did to supplement our "real" job. Made some money, but had no security, and worked for far less than we could have been doing. Plus we just sold our time for money there. No residual income.. but that's the subject for another article.
We hope this has helped you focus some thinking and our resource block will point you to one tool that will let you change your life.
--------------------
Article sourced from: http://www.articlecity.com/articles/business_and_finance/article_8365.shtml
Wednesday, 6 June 2007
Starting a Business
An interesting article I found recently on Articlecity.com regarding starting a business...
--------------------
Starting a Business
by: Vernon Anthony Johnson
Many people today are looking to own and run their own business. To do that they mainly have three main choices.
1. Buy a franchise
2. Start from scratch to develop there own type of business.
3. Buy an existing business.
When talking about capital to start or buy a conventional business we are not talking peanuts here; all these types of businesses will most likely require a substantial sum, perhaps in the hundreds of thousands of dollars.
They will usually require staff so suitable computer expertise for accounts and wagers and also people skills in the workplace are required. There are always some problems with staff which can cause difficulties.
In a conventional business you will require premises. If you have bought an existing business then probably rates and maintenance are your two main expenses with the existing building bought with the business. If you need to rent a premise then you may require a refit for your purposes which may cost tens of thousands of dollars. This would depend on the type of business which may require certain expensive machine or electronic devices which could be various and very expensive. Then you would need computers and office furniture in varying quantities. All quite expensive items. However you look at it there are considerable costs involved when starting a business some of which will be ongoing. i.e. interest on the loan, staff wages and rent etc.
If it comes to the worst and it all goes belly up look at what you might lose? The equity which was used to finance the loan - most likely the property you live in because you couldn’t pay off the bank overdraft. The fixtures and fittings which you purchased which now would be of use to you and any equipment you purchased which may have to be sold invariably at a loss.
So you sold everything to try and pay off your debt but that wasn’t enough so you have to leave the home you loved and look for rented accommodation. Then many years later you might crawl back to where you were before the time of the crash. The statistics for new conventional type business success are not good.
In a conventional business if you need advice you usually have to pay for it although with a franchise some is available free. With a franchise I understand it does not usually include business mentoring. So if it’s new to you, you may have to pay for that help. In MLM home based business with a good company the marketing help comes as part of the deal.
Why you may ask?
Well because the MLM I am recommending is structured so that the person who does the recruiting also helps the people they recruit. In making them successful they all financially benefit. This team building is the essence of success in MLM marketing and people who have done this for a few years reap large rewards without having taken a huge gamble to raise equity.
So if we look an MLM business which costs less than $2000 initially and potentially enables you to earn hundreds of thousands of dollars a few years down the track why wouldn’t that be much more attractive to you than risking your house?
There is the company which excels in all respects and is ideal for MLM people:
? It is debt free
? Publicly listed on the NASDAQ
? Achieved 1.5 billion turnover in the first five years
? Is a global business operating in ten countries and six more 2007.
? Ranked number 5 in the 200 Best Small companies by FORBES in the US.
If we summarise the benefits then we are talking about a business which:
1. Does not require a large amount of capital
2. Does not require you to hold stock.
3. Does not require staff.
4. Does not require you to rent or buy expensive premises because you can work from home perhaps from one room set aside as your office.
5. Enables you to make an income relative to your efforts which could be in the six figure bracket after a few years.
6. Does not confine you to office hours - you can work at a time convenient to you and your family.
7. Will still function once established without loss of income if you decide to take a long holiday.
Why then would anyone wanting to start a business not want to take the least expensive option?
The MLM choice comes without all the financial risk and headaches.
You can have the same earning potential as the conventional business with total support as part of the deal.
--------------------
Article sourced from: http://www.articlecity.com/articles/business_and_finance/article_8357.shtml
--------------------
Starting a Business
by: Vernon Anthony Johnson
Many people today are looking to own and run their own business. To do that they mainly have three main choices.
1. Buy a franchise
2. Start from scratch to develop there own type of business.
3. Buy an existing business.
When talking about capital to start or buy a conventional business we are not talking peanuts here; all these types of businesses will most likely require a substantial sum, perhaps in the hundreds of thousands of dollars.
They will usually require staff so suitable computer expertise for accounts and wagers and also people skills in the workplace are required. There are always some problems with staff which can cause difficulties.
In a conventional business you will require premises. If you have bought an existing business then probably rates and maintenance are your two main expenses with the existing building bought with the business. If you need to rent a premise then you may require a refit for your purposes which may cost tens of thousands of dollars. This would depend on the type of business which may require certain expensive machine or electronic devices which could be various and very expensive. Then you would need computers and office furniture in varying quantities. All quite expensive items. However you look at it there are considerable costs involved when starting a business some of which will be ongoing. i.e. interest on the loan, staff wages and rent etc.
If it comes to the worst and it all goes belly up look at what you might lose? The equity which was used to finance the loan - most likely the property you live in because you couldn’t pay off the bank overdraft. The fixtures and fittings which you purchased which now would be of use to you and any equipment you purchased which may have to be sold invariably at a loss.
So you sold everything to try and pay off your debt but that wasn’t enough so you have to leave the home you loved and look for rented accommodation. Then many years later you might crawl back to where you were before the time of the crash. The statistics for new conventional type business success are not good.
In a conventional business if you need advice you usually have to pay for it although with a franchise some is available free. With a franchise I understand it does not usually include business mentoring. So if it’s new to you, you may have to pay for that help. In MLM home based business with a good company the marketing help comes as part of the deal.
Why you may ask?
Well because the MLM I am recommending is structured so that the person who does the recruiting also helps the people they recruit. In making them successful they all financially benefit. This team building is the essence of success in MLM marketing and people who have done this for a few years reap large rewards without having taken a huge gamble to raise equity.
So if we look an MLM business which costs less than $2000 initially and potentially enables you to earn hundreds of thousands of dollars a few years down the track why wouldn’t that be much more attractive to you than risking your house?
There is the company which excels in all respects and is ideal for MLM people:
? It is debt free
? Publicly listed on the NASDAQ
? Achieved 1.5 billion turnover in the first five years
? Is a global business operating in ten countries and six more 2007.
? Ranked number 5 in the 200 Best Small companies by FORBES in the US.
If we summarise the benefits then we are talking about a business which:
1. Does not require a large amount of capital
2. Does not require you to hold stock.
3. Does not require staff.
4. Does not require you to rent or buy expensive premises because you can work from home perhaps from one room set aside as your office.
5. Enables you to make an income relative to your efforts which could be in the six figure bracket after a few years.
6. Does not confine you to office hours - you can work at a time convenient to you and your family.
7. Will still function once established without loss of income if you decide to take a long holiday.
Why then would anyone wanting to start a business not want to take the least expensive option?
The MLM choice comes without all the financial risk and headaches.
You can have the same earning potential as the conventional business with total support as part of the deal.
--------------------
Article sourced from: http://www.articlecity.com/articles/business_and_finance/article_8357.shtml
Thursday, 31 May 2007
Real Estate, Mortgages, Home Loans and Interest Rates - Do you get it?
Real Estate, Mortgages, Home Loans and Interest Rates - Do you get it? Is it all too much to take in? For somebody like me who is just starting out in the investment market, it seems like there is a lot to understand before you take the first big step.
Finding the right investment or home to live in is becoming increasingly difficult in Sydney. Not only due to pricing but the lack of available properties and land. What was considered farm land 10 years ago is now becoming heavily built suburbs and its stretching more and more inland from the centre of Sydney. Another question you have to ask yourself which is popular with people I know is that would you rather live in the best home in a not so good area or would you rather live in the oldest or run down house in a top area?
With mortgages it seems every Tom, Dick and Harry can offer you a loan. Ive had a home loan application and talk with both a bank and a mortgage broker and they were quite different but I would say the broker has helped me out more than anyone has so far and they visit you for free in the comfort of your home.
My bank home loan meeting was quite confusing to be honest. They kept mentioning personal insurances and stuff like that which I still dont really get and will need to look into.
What about these interest rates. Are they going to keep going up or has it peaked and it should spiral down? Will a change of government this year change this? The reserve bank says that for rates to go down, we need to cut down on spending but this is difficult in today' World with so many goodies like TVs, computers, MP3 players and etc readily available at amazing prices and with great technology advances.
And is Real Estate still the right investment? Would you rather put your money in stocks and shares? Australia is a place that is fascinated with Real Estate and this will never end, I just hope I can get on the bandwagon before the next boom hits.
Finding the right investment or home to live in is becoming increasingly difficult in Sydney. Not only due to pricing but the lack of available properties and land. What was considered farm land 10 years ago is now becoming heavily built suburbs and its stretching more and more inland from the centre of Sydney. Another question you have to ask yourself which is popular with people I know is that would you rather live in the best home in a not so good area or would you rather live in the oldest or run down house in a top area?
With mortgages it seems every Tom, Dick and Harry can offer you a loan. Ive had a home loan application and talk with both a bank and a mortgage broker and they were quite different but I would say the broker has helped me out more than anyone has so far and they visit you for free in the comfort of your home.
My bank home loan meeting was quite confusing to be honest. They kept mentioning personal insurances and stuff like that which I still dont really get and will need to look into.
What about these interest rates. Are they going to keep going up or has it peaked and it should spiral down? Will a change of government this year change this? The reserve bank says that for rates to go down, we need to cut down on spending but this is difficult in today' World with so many goodies like TVs, computers, MP3 players and etc readily available at amazing prices and with great technology advances.
And is Real Estate still the right investment? Would you rather put your money in stocks and shares? Australia is a place that is fascinated with Real Estate and this will never end, I just hope I can get on the bandwagon before the next boom hits.
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