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Atricle Dump - Your Advisory Staff
We are coming up to the end of the year and the time when many of us look to clean out the clutter in the office. It may be just to fill the time during the slow holiday week but it can also be an opportunity to practice good document retention practices. Most offices have a retention policy for official company records, i.e. tax returns, employee files and bank statements. These documents are carefully filed and stored neatly in boxes in a storage area or at an offsite storage facility. Each box is labeled with the owner and the year of the document. Every year a shredding service comes in and shreds the outdated records.This is a great system for the official company documents but what about the secondary records in the office? Secondary records are everything that employees keep stashed away in their desks and in filling c
If you are starting your own IT consulting business, you need to be generating demand, getting good leads and prospects, qualifying them, going out on sales appointments and following up on those.Do not get seduced by an aggressive sales person twisting your arm to join a channel program. Don’t get seduced by tech gadgets that don’t fill an immediate need with your paying clients.Avoid Channel ProgramsIn starting an IT consulting business, you need to be very careful that you don’t get sucked into joining channel programs that aren’t leading anywhere. You need to focus on finding paying clients first.Determine How You Will Be PaidWith new IT consulting clients, you need to always insist on either getting payment as you do the work or get credit card authorization, especially when you sell products. That’s e
Your Advisory Staff
As stated above, there are functions in your business that you need to fully understand; but you can't possibly or even need to understand every little detail. That's what an Advisory Staff is for. Let's look at some of the Advisors and how they can help every business owner, not just bigger companies.
Financial Advisor
This person knows everything about finances and how they affect your business. A well-established bookkeeper or accountant makes an excellent Financial Advisor. This should be a person who is well familiar with you and your business and someone you can call on for good financial advice. Be sure this person is qualified! Uncle Louis may have run a successful machine shop, but the financial differences between a machine shop and a cleaning and restoration firm are many. Your Financial Advisor must help you with things such as structuring payroll, tax strategies, budgeting, and money management.
Banking Advisor
The allocation and disbursement of your assets - especially equipment and money - are functions familiar to a good Banking Advisor. Your Banking Advisor should work well with your Financial Advisor to give you the best advice about investing in and using your assets wisely. My Banking Advisor is my bank manager. I confer with him about my asset needs and together with my Financial Advisor (my accountant) we develop strategies to help my business grow.
Legal Advisor
Your Legal Advisor helps you understand and plan your business from a legal standpoint. He confers with your Financial Advisor and you to help develop succession plans and asset allocation in the event that the unthinkable happens to you. Your Legal Advisor is also instrumental in helping you map out legal strategies and advice as you grow; such as employee issues, real estate contracts, contracts with your customers (esp commercial and restoration), potential liabilities, collection efforts, and many other functions of your business. My Legal Advisor is my busines
A badge means a patch or an accoutrement presented recognizing a feat or an accomplishment, or a simple identification. Military badges symbolize qualifications received through military training. Scouting organizations use badges to show group membership and rank. Much known among badges, the star-shaped badge of a U.S. sheriff made famous in Westerns.A wearable medal means a medal awarded by a government for services to a country. This applies to a medal of coin-like appearance, but the word also refers to an Order or decoration. A table medal means a medal awarded by an organization for services in a specific field for example the Nobel Prize or the Carnagie Hero Medal. A medal also means a medal awarded to winners and runners-up of sporting competitions.A medal can indicate either an Order, Decoration, or Medal. The most el
Your Advisory Staff
As stated above, there are functions in your business that you need to fully understand; but you can't possibly or even need to understand every little detail. That's what an Advisory Staff is for. Let's look at some of the Advisors and how they can help every business owner, not just bigger companies.
Financial Advisor
This person knows everything about finances and how they affect your business. A well-established bookkeeper or accountant makes an excellent Financial Advisor. This should be a person who is well familiar with you and your business and someone you can call on for good financial advice. Be sure this person is qualified! Uncle Louis may have run a successful machine shop, but the financial differences between a machine shop and a cleaning and restoration firm are many. Your Financial Advisor must help you with things such as structuring payroll, tax strategies, budgeting, and money management.
Banking Advisor
The allocation and disbursement of your assets - especially equipment and money - are functions familiar to a good Banking Advisor. Your Banking Advisor should work well with your Financial Advisor to give you the best advice about investing in and using your assets wisely. My Banking Advisor is my bank manager. I confer with him about my asset needs and together with my Financial Advisor (my accountant) we develop strategies to help my business grow.
Legal Advisor
Your Legal Advisor helps you understand and plan your business from a legal standpoint. He confers with your Financial Advisor and you to help develop succession plans and asset allocation in the event that the unthinkable happens to you. Your Legal Advisor is also instrumental in helping you map out legal strategies and advice as you grow; such as employee issues, real estate contracts, contracts with your customers (esp commercial and restoration), potential liabilities, collection efforts, and many other functions of your business. My Legal Advisor is my busines
Each business has its own unique needs and concerns when it shops for property to serve its business needs. Each business owner is concerned with whether to lease or buy, how much space is needed, what kind of property is needed, how much to pay for the purchase or lease, how to negotiate the best price, how to negotiate the best terms, and how to find the best location. The following six points need to be considered before leasing or buying business property:1. Lease or Buy: It is usually better in the long-run to own your business property. However, that may not be the case if you are short on cash. It may be a better decision to lease a facility when you are just starting out. When you lease a building, your cash outlay is much less than it would be if you purchase a building. The purchase will require a substantia
Banking Advisor
The allocation and disbursement of your assets - especially equipment and money - are functions familiar to a good Banking Advisor. Your Banking Advisor should work well with your Financial Advisor to give you the best advice about investing in and using your assets wisely. My Banking Advisor is my bank manager. I confer with him about my asset needs and together with my Financial Advisor (my accountant) we develop strategies to help my business grow.
Legal Advisor
Your Legal Advisor helps you understand and plan your business from a legal standpoint. He confers with your Financial Advisor and you to help develop succession plans and asset allocation in the event that the unthinkable happens to you. Your Legal Advisor is also instrumental in helping you map out legal strategies and advice as you grow; such as employee issues, real estate contracts, contracts with your customers (esp commercial and restoration), potential liabilities, collection efforts, and many other functions of your business. My Legal Advisor is my busines
All business owners had one goal, and that is for them to gain profit. Managing a business is not that easy. It requires a big sense of responsibility, hardwork and patience. But did you know that applying for a business credit card have huge advantages for your business whether it is small or big? Here are few advantages that you can get when you apply for a company or a business credit card.Helps the business conserve cash – With the use of a business credit card you can buy or purchase the supplies and equipments, which are considered to be the basic needs of a business. The good thing about it is that you can monitor your expenses for the month by looking at your credit card statements.It offers higher credit limits- One good thing about company credit cards is that they offer h
Legal Advisor
Your Legal Advisor helps you understand and plan your business from a legal standpoint. He confers with your Financial Advisor and you to help develop succession plans and asset allocation in the event that the unthinkable happens to you. Your Legal Advisor is also instrumental in helping you map out legal strategies and advice as you grow; such as employee issues, real estate contracts, contracts with your customers (esp commercial and restoration), potential liabilities, collection efforts, and many other functions of your business. My Legal Advisor is my busines
Well, we are into the New Year and everyone is making resolutions on how to improve in 07. It’s time to think about your product and it's packaging too. Just like we do with our mental, emotional and physical aspects of our lives, think about improving and updating your packaging. You want it to mesh with consumer wants and needs. Consumers are a moving target and what worked last year may not work in the years to come.Here are 10 simple things you can do to ensure your product packaging is on target and delivers the right message to the right audience.1) Take an honest look at your product packaging. Is it working to your product’s best advantage? Are there changes that you have put off making due to lack of time or money? Implement a plan to review one product at a time or a family of products if they are interrelated. An
Business Advisors
Business Advisors are those with business knowledge and experience familiar to your situation. One of my Business Advisors is my Mentor, CJ, who taught me more in just a few sessions than I learned in five years prior. Two more of my Business Advisors are my partners at BRC Systems Solutions - Dan Burk and Keith Collins. Yet two more of my Business Advisors are my parents, whom I bought the cleaning/restoration business from. Also on my Advisory Staff is my webmaster and marketing experts I've sought advice from over the years.
Other sources of Business Advisors can include: executives at your local Small Business Development Center, your local SBA and SCORE officers, Key personnel at your local Chamber of Commerce, successful friends and family members, Specialists who have already been where you want to be, etc. I'll bet if you sat down for a few minutes you could write out a short list of potential Business Advisors that can help you grow.
Assembling Your Advisory Staff
First, make a list of the 4 types of Advisors I noted above: Financial, Banking, Legal, and Business. Think of people you know or have heard of from a trusted source that could fill these roles. One word of caution - pick your Advisors VERY carefully! Try to pick those who are not only on the same page as you, but are well familiar with your situation, your business, where you're at, and where you want to go.
Next, create an "Advisory Portfolio". Get a binder and Title/Divide the binder into the four Advisory sections. Notes with each of your Advisors will go in the appropriate sections. You will use this for reference about things you've discussed and planned.
Third, meet with your potential Advisors and let them know what you're trying to accomplish. Tell them that you would
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