How Bankruptcy Works

Bankruptcy… a frightening word with serious connotations. In recent years governments have been cracking down, making penalties for bankruptcy more severe in an attempt to make them more difficult to attain so that only those in serious need can apply for them.
Despite the negative image that is associated with bankruptcy and the various problems that come along with declaring a bankruptcy, it doesn't have to be frightening; after all, bankruptcy was designed as a way for those individuals and businesses who find that their finances are out of control to get the help that they need to organize their finances and pay off their debts.
Once you take the time to understand what bankruptcy is and how it works, you won't find it as scary as you did at first.
Defining Bankruptcy
Bankruptcy is a legal term, meaning that an individual cannot within reason pay off their various debts and have allowed the court system to take over their finances for this purpose.
When filing for bankruptcy, the court will appoint someone to work out the payments to your creditors and to determine how much of your income must go to repay these debts. The court will either allow you to make payments, or more likely will deduct a portion of your paycheck toward this goal.
During this time, your credit will be limited… both by legal action and by the reluctance of creditors to issue credit lines to individuals who have declared bankruptcy.
Once the total amount set by the court has been repaid, the bankruptcy will be discharged and you will be able to start rebuilding your credit from the ground up.
Different Types of Bankruptcy
Several different types of bankruptcy exist, defined by legal codes for certain purposes. The exact types of bankruptcy available differ from one country to the next… in the United Kingdom bankruptcy can only legally be applied to individuals and partnerships, whereas in other countries such as the United States or Canada they can be applied to businesses as well.
Regardless of the limitations or allowances set by the government on who is allowed to declare bankruptcy, the general purpose of bankruptcy remains the same.
Lasting Effects of Bankruptcy
While you are working towards discharging a bankruptcy, your options for credit will be exceedingly limited. Even after you've had your bankruptcy filing discharged, though, you'll still find that you won't have many options for a while… many creditors will still be hesitant to work with you from between six months to two years depending upon the creditor and the service that you're applying for.
You should also take care with any offers that you do receive, because they will likely come with high interest rates and additional fees attached.
Life After Bankruptcy
Bankruptcy isn't the end of the world… it's actually a chance for a new beginning. As time goes by, the bankruptcy on your credit report will begin to matter less and less as you eventually start to establish new positive credit lines and build up your credit again.
Just like negative reports, your bankruptcy will eventually expire from your credit history; the process may take up to seven years, and until it expires there will still be those who are hesitant to deal with you.
Once it expires, however, the negative reports that preceded it will also be long gone… and you'll find that your newer reports are all that remain.

The Do’s and Don’ts of Giving Feedback

Being able to give effective feedback is not just a good skill to possess in business, it is a great life skill to have. Because when you are masterful at giving feedback, not only can you help your employees to sustain continuously improving performance, you can also improve the performance of the baseball team you coach, the cleaning lady at home, or the performance of your own children on completing their chores. Any person’s performance in any activity can be positively impacted by effective feedback. Isn’t that a powerful skill to have? Wouldn’t you want to be a master at giving really useful and impactful feedback?The good news is that it is not difficult to be good at giving feedback. It does take some effort and practice. But it is definitely a skill that can be learned. So, to get you started, here are the Do’s and Don’ts of giving feedback.Let’s start with the Do’s:Be Timely: in order for feedback to be effective, you need to act quickly. If months have gone by before you bring up an incident, the person receiving the feedback will interpret your delay to imply that it couldn’t have been that important, and the effect of the feedback is greatly diminished.Be Specific: talk about your feedback in very direct and specific terms (“I noticed there were several calculation errors in last month’s report”). If you are vague (“your work is unacceptable”), how can you get the message across? Focus on the action and the results. Be very factual in your discussion.Be Open and Offer Suggestions: if the objective of your feedback discussion is to produce an improvement of performance, then come equipped with suggestions (again be specific) on what the person can do to affect that change. Be open to their perspective and be willing to discuss how they see that situation. Enroll them in coming up with a solution that they can buy into. If you don’t get buy-in, change will not happen.Create the right environment: feedback is best done in person, and in a private setting. In a business setting, arrange a time and place for your discussion. Don’t just catch people on the fly and throw a few comments their way as they are heading down the hallway and expect your comments to have any impact.Check for understanding and buy-in: if the feedback discussion is about a performance issue, make sure you check-in on how your comments have landed with the person. Establish some sort of accountability to verify their buy-in. For example, if you have an employee who constantly misses deadlines. During the discussion, ask for a commitment that he will meet all deadlines for the next quarter. Make sure that the commitment is specific, and not something vague like: “I’ll do a better job of meeting deadlines next quarter.”And now for the Don’ts:Don’t Make it personal: there is a difference between giving feedback and criticizing. Do not make it personal. Don’t interpret actions (showing up late) and pass judgment on the person (he is slacker and isn’t truly dedicated to this job). Criticism destroys relationships. If your employee feels like he is being attacked, he is not going to be very open to hear what you have to say, he will immediately become defensive, and your job becomes much harder. Focus the discussion on the action, not the person. Make your employee feel that he is being supported, even if his performance is not up to standard.Don’t Only give feedback when there’s a problem: if you’re their leader, people need to know where they stand with you. If you have a great employee who always exceeds your expectations, take the time to give him just as much feedback as your biggest challenge. As a matter of fact, make it a point to give more positive feedback comments than “constructive” ones with every person. You’ll be amazed at how much more motivated your employees will become with consistent positive reinforcement.Don’t Address multiple issues in one discussion: your employee will go into overload and you will lose the impact of the discussion. If there are multiple issues, have different discussions and just concentrate on addressing them one at a time.So there you have it, a short list of Do’s and Don’ts you can apply to whatever feedback you need to give. Remember, most people, even your rebellious teenager, want to do a good job and to please. They do need some clues as to how they are doing and what they need to change. So master the art of feedback and you can really help each other.

Don't Get Hacked - Best Practices For Protecting Your Business

Don't Get HackedYou've seen it in the news - 40 million credit cards exposed!With all the news about web sites being hacked and cyberthieves stealing credit card numbers and other personal data,it's no wonder that some shoppers are still hesitant to providepayment information online. You don't have to be.Is it enough that users trust you?Common marketing wisdom shows that one of the most valuableassets any Internet Marketer has is trust. People go to extrememeasures to build this trust - online pictures, testimonials,audio - some even go as far as to open storefronts to givepeople that "good feeling".But all of this may simply not be enough.A recent Harris Interactive survey found that 75 percent ofconsumers polled worry that companies will share personal datawith other corporations without permissions, while 70 percentdoubt the security of online transactions and 69 percent fearthat hackers will steal their personal data submitted online.You see, just because a user trusts you, doesn't necessarilymean that the customer trusts your website oryour payment processor.Once you've established rapport with your customer base,the next step is to build trust in your website.Whether you collect credit card information yourself, or havea third party processor handle your transactions for you,it's crucial that people understand that you are seriousabout protecting their privacy and information.Here's a few things you can do to help out.*) Install a Secure Server Certificate on your server to closethat "lock" on people's browsers. Even if you don't collectcredit card information, people feel better about havingthe information they send to you be secure. Also, considerusing a "top tier" Certificate provider, such as Verisign.While other providers may have nearly equally secure solutions,the reason you are buying the certificate is to instill trustin your customers, which other providers do not necessarilyhave in abundance.*) Have a clear, clean privacy policy statement in additionto the "legalese" required by the FTC. If you don'tsell addresses, tell people so.*) Secure your server. I know that this seems obvious, but mostpeople pay no attention to their webserver or the softwarethey are running. Knowing what software you have running,and keeping up-to-date on patches will help significantly.*) Install an Intrusion Detection System (IDS) I estimate 73%or more of all websites have no intrusion detection systemin place. What this means is that not only can most websitesbe hacked easily, it is very likely that the website ownerhas no clue if that they have been compromised.*) Turn off unneeded services and ports, and uninstallunused software. The premise here is that the less "stuff"on your machine, the less chance for exploit. For example,MySQL listens on the Internet for messages form other servers,yet most small websites access the database system only fromthe machine it is running on. It is very simple to makeMySQL "invisible" to the Internet - making it much moresecure if you don't need to access it from other systems.There are many, many more simple techniques like this you canapply to your server to keep hackers out.In summary, consumers are quickly becoming Internet savvyand they take their privacy seriously. There is nothing,and I mean nothing, that can hurt your credibility morethan your customers and potential customers getting SPAMto email addresses that they provided only to you - inthe best case, they will think that you sold their address.Responding that no, you didn't sell their address, but someonehacked your server and stole ALL their personal informationwon't make them feel a whole lot better about doing businesswith you in the future.

High Volume Merchant Accounts

As your business continues to grow and customers buy more goods and services, you may want to consider joining those who are applying for high volume merchant accounts. When you are approved for a high volume account, you can get good prices on mid- and non-qualified sales, along with debit processing, monthly statement fees, and additional expenses. The greater your volume of business, the better deals you may be eligible for when working with financial institutions or companies who can provide this valuable service.The way it works is that you apply for a merchant account at a bank that offers great pricing and low-cost fees. These can be packaged in a variety of ways. For example, you may want to pay a few cents for each transaction, but if you experience high-volume sales, this could become a costly option. The other route to go is to pay a low monthly overall percentage, often between 1% and 2%, for the entire sales volume you experience via your credit card and debit-processing program. High volume merchant accounts can save you money over time because you will be able to pay smaller fees for each transaction or get a better rate for the amount of profit that you bring in.If you currently have a sizable volume of sales and perhaps expect to do more in the near future, keep in mind that high volume merchant accounts have helped others in your position. Your customers will appreciate the ease of using up-to-the-minute technology for processing their orders with your company. And your employees likewise will be happy to turn their attention to other tasks within the organization. Your company may even see profit increases within the first few months as the word spreads about your merchant account status and credit card processing capabilities.You can apply for high volume merchant accounts through your local bank or a preferred financial institution that can process Visa and MasterCard credit accounts. Your application should demonstrate that your company is not involved in illegal or shady dealings that the underwriters are unlikely to approve, including gambling, pornography, pharmaceutical offerings, and telemarketing. Then you will want to be able to show that your company is fiscally solvent and maintains a solid credit history. You might include documentation to support the notion that your company will be able to pay merchant account fees in a timely manner.In upgrading your business to accommodate e-commerce solutions like credit card processors through a merchant account, be sure to calculate in advance the type of fees or expenses that will be affiliated with this move. You don’t want to start something you can’t finish, so project related expenditures for the coming year to see how they fit with your company budget. If it appears a credit card processor or wireless unit will tax your operating budget, you may be able to take out a low-interest loan to fund the initial start-up expenses. Discuss this option and any other questions you might have with the bank representative who manages applications for high volume merchant accounts.

How To Avoid Being A Victim Of Ebay Buyer’s Fraud

From everything you’ve heard about the risk of fraud on eBay, you might think it’s only buyers getting scammed – but you couldn’t be more wrong. Here are a few common scams that sellers fall for every day.The Rubber Cheque.This one obviously isn’t limited to eBay – it’s been going on for years in all kinds of business. It works like this: a buyer sends you a cheque that they don’t have the funds to cover and you pay it in your bank. You then send the goods right away, only to find out a few days later that the cheque bounced.The solution to this is simple: don’t send anything to a buyer until their payment has cleared, no matter how quickly they might say they need it. Advise them to pay electronically if they don’t want to wait so long for their items. Then again, if your items are quite small, you could just take the loss from an occasional bounced cheque. Think of it as a small price to pay for faster and better customer service.‘I Never Bought Anything!’This is one of the riskiest scams to fall victim to. In this case, the credit card’s real owner still has control over it – no-one has stolen their details. They have realised, however, that they can phone up the bank who issued their card to say that it’s being used fraudulently and they never bought any such thing, and the bank will often reverse the transaction without even investigating. The only way to beat this scam is to make all your sales through eBay, as they keep a record of transactions.The Unconfirmed Address.It is quite easy to steal PayPal accounts from inexperienced users: all you need, after all, is their email address and password. PayPal tries to protect against credit cards registered on stolen accounts being used to buy things by listing a ‘confirmed address’ for each buyer – an address that matches what is registered with their credit card issuer. What many scammers will do is ask you to ship to a different address – unless you’re very sure of them, this is a bad idea, as they could be trying to commit credit card fraud. Be especially suspicious of anyone who wants to pay a higher price and get overnight shipping, especially if not even to the same country as the confirmed address. The fraudster is trying to make sure the item reaches them before they are discovered.It’s up to you to take responsibility for fraud on PayPal, as eBay’s favourite way to refund fraudulent payments to their rightful owner is to just reverse it from you! This is considered an occupational risk of PayPal usage, and sellers who get burned severely sometimes go as far as moving to a rival electronic payment service. See http://www.nopaypal.com for more.In the next email, we’ll take a closer look at PayPal, and ask: should it be the only kind of payment you accept?

Enjoy The Benefits Of A Credit Merchant Account

A credit merchant account can make your business more productive than ever. That’s because a merchant account will let you start accepting credit card payments from customers in any part of the world at any time of the day or night. Could business possibly be better than that when conducted in any other way? That is why you need to know more about potential benefits of a merchant account. Your credit merchant account will let you grow your business in ways you may not have imagined. For example, in addition to taking credit card payments on location at your store, you can take a wireless credit card processor with you to customers’ residences or places of business and accept payment on the spot. This makes it easier for the customer to pay the charges and not give another thought to the transaction. You, on the other hand, likewise benefit when the bill is paid promptly without the hassle of waiting for payments that may never arrive. You can hire few billing clerks and accounts receivable employees when you accept credit transactions that are processed instantly. Another way that a credit merchant account can serve your business is when you implement a phone order and payment system. A digital program will let customers call a toll-free number, listen to messages about products and services or select other options, such as “payment” or “catalog request,” and then finish up by processing a credit card for any purchases made during the phone call. You don’t even have to hire someone to answer the phone; the entire process can be automated, although you may want to have a customer service rep available at certain hours of the day if needed. The credit merchant account benefit that is creating quite a buzz in the business world is the Internet credit card processing option. More companies are putting up a Website in cyberspace to get their names out there and to attract a larger, more global client base. You can enjoy these benefits, too, when you get approved for a credit merchant account and hire a Web designer to create an artistic or thoughtful Website that represents your business to customers around the world. Registering with search engines will bring thousands of visitors to your site by accident, but they may decide to remain when they find exciting features on your home page, such as a survey, a helpful hint, or links to product lists and descriptions. They can shop in any time zone or region in any continent from a computer with Internet access. Think of the possibilities for building a super-size client base! Give some thought to applying for a merchant credit account from a trusted lender or underwriter. This special account will confer professional merchant status and allow you to collect credit payments in a timely manner instead of working through a time-consuming billing process that may render less fruitful results. Shop soon to compare prices and terms for your credit merchant account.

Are Corporate Awards and Corporate Gifts Beneficial for your Business?

With the increased challenges that all companies are faced with, many corporations have implemented various initiatives to continue to grow corporate earnings and shareholder value, some have discovered the strategic value of corporate awards and corporate gifts. From the boardroom to the frontlines to the client across the country, corporate awards and gifts offer many benefits to enhance performance. Not only are you showing your appreciation to the employee or customer, you setting a standard of thanks for the hard work and dedication. Corporate Awards Benefits: A company’s success depends on its employees and their abilities. With the incentive of a corporate award or corporate gift you attract and retain current employees to pursue for more in the workplace. Corporate awards are great for:• Direction• Talent Retention• Sales Goals • Public Relations• A Direct affect on the company’s bottom line. Things to Consider when giving a Corporate Award: How many times do you give the award? Most companies have an annual corporate dinner or function where the years corporate awards are given out. This would be the best time to show your appreciation.What type of recognition do you want the award to represent? You definitely want to make this award stand out and make it represent the kind of hard work that was accomplished. What kind of statement do you want to the corporate award to make? You want it to make it so that everyone else will strive for that award next year. A statement shows gratitude but also envy.From the small business to the major corporation, corporate awards will have an increased performance level. No company should underestimate the power of corporate awards. Your business will gain a critical view of your operations and challenge to improve the business and company as a whole.Benefits of Corporate Gifts: As major holidays are approaching, many companies will be thinking about giving your customers (and possibly employees) corporate gifts. Sending corporate gifts does not always have to be thought about during the holidays. Many other occasions such as referrals, completion of a project, customer’s birthday or even a business anniversary can be acceptable times to send a gift. When sending the gift, make sure that you add a personal touch, as this can go a long way. Include a hand-written note, or wrap the gift yourself. You can even present the gift in person to give it that extra touch. There are not a lot of do’s or don’t when sending a corporate gift but the key is to make sure that the added touch is there to show the person that you are grateful for what has been accomplished. Companies should not underestimate the power of business awards and gifts. Not only do corporate awards show true appreciation, it makes other employees strive to become a standout in their field. Sending corporate gifts also reassures your thanks to the employee or client that you appreciate the hard work and dedication that it takes to run the business. These kind gestures will not only build your relationships but it will help you build the company by utilizing its maximum potential.

Consumer AdviceWhat is identity theft?

What is identity theft?
(NC)—Identity theft occurs when someone uses your personal information without your knowledge or consent to commit a crime, such as fraud or theft. Once they steal the information and manipulate it, identity thieves can invade your personal and financial life. They can use stolen identities to conduct spending sprees, open new bank accounts, divert mail, apply for loans, credit cards, and social benefits, rent apartments and even commit more serious crimes which, once arrested, they pin on their new identity.
ID thieves get your personal information by: • Stealing personal and private information from wallets, purses, mail, your home, vehicle, computer, and Web sites you've visited or e-mails you've sent. • Retrieving personal information in your garbage or recycling bin by "dumpster diving". • Posing as a creditor, landlord or employer to get a copy of your credit report. • Tampering with ATM and terminals at stores, which enables thieves to read your debit or credit card number and PIN. • Buying the information from a dishonest employee working where personal and/or financial information is stored. • Removing mail from your mailbox. • Searching public sources, such as newspapers (obituaries), phone books, and records open to the public (professional certifications). For more information on how to protect yourself from ID theft, and other common consumer scams, visit ConsumerInformation.ca . It's a Web site created by federal, provincial, territorial governments and their partners specifically to provide Canadians with convenient, one-stop access to hundreds of objective, reliable, current consumer information sources.

How To Get Your Contact Details Across: When The Organisers Won’t Let You

Have you ever spoken at an event and they won’t allow you to give your details? Have you gone on the radio and they forget to announce where you can be contacted?If your contact details are left out or if you’re prevented from giving information, you’ll need to play the game a little smarter.Understand that most reporters/radio announcers/organisers are quite accomodating. They understand that you’re giving your valuable time in exchange for the publicity. But often enough you’ll run into someone who’s power drunk or whose organisation just won’t budge.And here’s what I’ve done. And you can do too.Refer to your product or service many times in the speech. Give an example and say how that particular example coincides with the example on Page 34 or Page 65. Or in the third CD of your 20 CD Workshop. Or the FREE Report you gave at the last event. As long as you’re making perfect sense, you will not be stopped or reprimanded. Your speech will meet the host’s guidelines, yet all the time you’re leaking out information.By the end of the speech, you should have created enough leaks for the audience to be extremely curious. They’ll want to know about Page 34. They’ll want to know about the FREE Headline Report you gave at the last event.As your fame grows, you may not need to do any of the above. If the organisation doesn’t allow you to give your contact details you can refuse to do the interview/speech. However when you’re starting out, you may crave the additional publicity and that’s okay.Be sure of one thing. Don’t let your speech be random. Create leaks and watch how the audience swarms around you after the event!

High Volume Merchant - Do You Need One?

When your business grows to the point where it is ready to move into the electronic age, you should give some thought to opening a high volume merchant account to expand your company’s potential. A merchant account will allow you to partner with a local bank or another financial institution to provide credit card processing payment options to online customers through the company Website.Creating a high volume merchant account will let you increase operating capacity to process exponential numbers of customers and credit transactions. You won’t have to worry about keeping correct change on hand at all times, nor will you have as many bad checks to chase after. Your customers won’t have to look for an ATM and pay extra usage fees to get cash when they wish to shop at your company’s physical location or online Website. You can hire fewer people to accept payments since your electronic equipment will be able to do that for you. In a short time your profits may soar as operating costs dwindle.To apply for your high volume merchant account, first find a bank that offers this service. It need not be in your area, as you can now do most banking tasks online via the Internet. You will probably want to open your merchant account in a country that is economically stable. One with U.S. bank branches might be particularly useful in helping you open a high volume merchant account, since many U.S. banks enjoy a highly esteemed international reputation. Whether you apply online or in person, you will need to show proof of your citizenship and your company’s country of operation. You must show that your business does not involve illegal, and in some cases, immoral activities like pornography, gambling, pharmacy, and telemarketing initiatives. Generally, there are no limits on volume, so even if your credit card processing unit brings in far more profit than anticipated, you need not worry about being charged extra fees, although you will have to clarify this up front.Your application for a merchant account could be approved in a day or two, which means you could start accepting credit card payments in a couple of days. Of course, you will need to select the type of credit card processor that you want to use either at a physical location or via your online Website. You may want to use a wireless processor for employees who travel from one site to another. Your high volume merchant account will be ready for business promptly to ensure that payments can be processed right away for your customers’ convenience and your company’s profit.Many entrepreneurs, company owners, and managers find it exciting to expand their operations to include credit card processing options so that customers can shop night and day, 24/7. Start browsing online banking sites or community financial institutions that can provide this opportunity, and carefully read the conditions and terms for each institution before you choose one and apply for your high volume merchant account.

The Secret of Credit Card Numbers

Have you ever really looked at your credit card and tried to figure out what that huge string of numbers really means? Do these card issuers have so many customers that your account number has to be 16 digits long?You may be surprised to know that all those numbers you see actually do stand for something, and it's not just who YOU are. Let's take a look.Most of the major credit card companies operate on the same system when choosing a credit card number. Other cards like gas cards, department store cards and phone cards go their own way. Let's concentrate on the ones that all play by the same rules.The very first digit in the series will be a 3,4,5, 0r 6. This number designates the type of card as follows:3 = a Travel & Entertainment Card like American Express or Diners Club.4 = Visa and Visa-branded debit cards, cash cards, etc.5 = MasterCard and MasterCard-branded debit cards, cash cards, etc.6 = DiscoverAmerican Express and Diners Club use the second digit to identify the company. That means that Diners Club cards will start with either "36" or "38", and American Express cards will use either "34" or "37".The remaining numbers in the series are used for different purposes depending upon the card type and issuer.In most cases, the next group after the opening series of numbers represents the routing number of the card-issuing bank, the group after that is the user's account number, and the final digit is a check digit. The check digit is a number that is calculated by applying a special formula to all of the other numbers. The check digit is the result of that formula and is used as an anti-fraud check.To keep things from getting too confusing, look at your card as you follow along for the next steps.American ExpressThe American Express Card uses digits three and four for type (business or personal) and the currency of the cardholder's country of origin. The next digits from the fifth through the eleventh are account numbers. Digits twelve through fourteen indicate the card number within the account and the last digit is the check digit.VisaWith Visa, digits two through six represent the bank number. Beginning with the seventh digit and running through the twelfth or the fifteenth represents the account number and the last number is the check digit. Since all Visa cards do not have the same amount of numbers in the sequence, the number of digits in a group may vary.MasterCardFor MasterCard, the second digit, through to anywhere between the third and the sixth digit is the bank number. All remaining digits, except the check digit at the end of the series, identifies that cardholder's account.Now that we've gone over it all, you're probably wondering why you were ever wondering in the first place. Just remember though, knowledge is power. Some things are just fun to know.

Forgive All Ebay Sins!

Over the years, I have been amazed at the “blinding” greed and reckless approach to commerce that some business owners have employed. Lying to customers, selling inferior merchandise, and not offering refunds, left a firestorm of irate customers in their wake. Without fail, all of this “ill will” led most businesses to bankruptcy, and in some cases, Federal Prison.I realize that not everyone engages in “business criminality” that rises to the level of fraud and incarceration. Most people try to be good stewards, and approach their enterprise in an honest and forthright manner. For those of you who own thriving business concerns you already know that in most cases the customer is always right. You make sure that you communicate effectively, refund monies if the buyer is truly unhappy, and try to meet the needs of the people who buy your goods or services.However, there are more than a handful of Ebay sellers that are of the mind that customer service and effective communication is not something that they need not participate in. Take the case of a woman named Barbara, (Nickname: BobAnn) who recently posted her disappointment on the Ryze Business Network:Quote:Barbara Cerda wrote:Greetings Everyone,“When will sellers on Ebay understand that customer service is key? And when will Ebay sellers learn using customer friendly approaches can only make their business grow?” Again today I've bought from a less than friendly seller. Thought I was placing a bid and instead bought the item at the buy now price. Of course the seller refused to allow the retraction, nor was I allowed to place a bid. I always pay for my winning bids immediately upon email confirmation. And did so in this case. But it would have been customer friendlier for this seller to accept my retraction to be replaced with a bid. He would have gotten repeat business from me and my friends. His "Buy Now" price is 30% over the retail price for this item. Lesson learned by me again - that there are way too many sellers on Ebay out to grab a buck and the hell with fair practice. Lesson learned yet again.”BobAnn End quote…The operative phrase here is “repeat business from me and my friends”. There is no better endorsement of your product or service than word of mouth advertising. Lack of flexibility on the part of the seller, not only cost them one customer, but also destroyed the possibility for future business. Good news travels fast, but bad news travels faster!As an auction seller, (Ebay auction ID: LevelBest77) I would have accommodated her request right away. And while I have never had anyone use “Buy It Now” by accident, I have had several people over the years ask me to retract bids. The number of people who have made that request can be counted on one hand! Some, did not even understand the process, (bid retracting) and I was more than willing to guide them through it.People make honest mistakes, and you should never “abuse” a buyer for doing so. If you plan to get into Ebay auction selling for the long haul, always practice good will toward your customers. Unless someone is totally unreasonable, and you have done everything in your power to accommodate their request, never deny people the ability to change their mind, return an item, or retract a bid! Developing good will also requires that you anticipate customer needs…..For instance, I had a few overseas customers bid on a wireless router. This particular item needed to be powered with a Universal Adapter, since voltage requirements in France and Australia are obviously different from those here in the United States. I made this abundantly clear to both bidders before they sent me any payment. The purchase of such an adapter, not to mention the shipping price, would have doubled the US retail cost. I told them that they could probably get the product cheaper at their local electronics stores. Without hesitation, I let them out of their obligation to pay for the item. I then contacted the next highest bidder and offered that person the chance to make the purchase. Both bidders thanked me for my honesty. They had forgotten about the electrical differences. I could have ignored that little detail, and sold them the item anyway. I just had to put myself in their situation. Think of how frustrated they would have been if I did not reveal that information. Buyer’s remorse would have set in quickly, once they realized that they could have purchased the same item for a lot less in their native countries. While the benefits of these actions may not have an immediate effect, you can be sure that should I ever have another “item of interest!” these two gentlemen would not hesitate to purchase from me. They can count on me to accommodate their needs, instead of catering to my wants. Creating this type of good will instills trust, and the knowledge that you have the customers best interest in mind.“Me thinketh thou doth protest too much!Do you accentuate the positive? Or, do you run on negativity? Negative Ebay feedback is a tool that everyone should use with restraint, or not at all. As a rule, I never leave negative feedback. Unless someone has blatantly lied about your product, or attacked you personally without merit, then I would not leave any feedback in the “minus” side of the isle! “Flame” wars are not pretty. I have seen a lot of unnecessary back and forth “banter” that could have been avoided, if they (the seller) just resisted the urge to make their “two cents” known. Sometimes it gives customers the impression that you are more concerned about arguing, then conducting your business. I have also witnessed seller feedback that has included some pretty foul language. Engaging in this type of verbal sparring is not much of a confidence builder either. It is more telling of what you are, then about revealing the sins of your customers. Don’t go out of your way to register a negative response if you can help it. Heed the sage advice that our Mother’s use to tell us: “If you can’t say anything nice, don’t say anything at all!”“What we have here is a failure to communicate!”Communication with your customers should not amount to the sound one hand clapping! Bottom line, if someone e-mails you with a question--answer it! Here is an example of the type of feedback I obtained by doing just that……“He was very Helpful and cooperative in answering questions. Follow-up: Will DEFINITELY use his services anytime he has items of interest! Great Seller!”The gentlemen who left this positive review, wanted to know about some of the particulars of a “Mickey Mouse” clock I had up for auction. His wife is a collector of all things Disney, and thought it would be a nice surprise for her birthday. The clock, to say the least, was in sad shape. It was incapable of keeping time, and the only part of it in working order was the second hand. I thought for sure that he would be disappointed with the item despite full disclosure of all of it’s imperfections.To my surprise, not only did I receive positive feedback, but he also told me that his wife absolutely loved it! In this instance, one man’s junk, truly, is another man’s treasure! I never thought this item was worthy of any praise! The time it took to answer his questions—all of five minutes! I know that some of you will say that I am not being realistic. You just can’t answer e-mails all day; “I have a business to run!,” you might proclaim. If you plan on making a living on Ebay, then you better think about hiring someone to help you answer your daily inquires if it is just too overwhelming. If you specialize in a particular product, set up a Frequently Asked Questions page to any Auto-Responder.If you use Ebay on an infrequent basis, and have less than thirty listings a month, then you really don't have any excuse not to provide great customer service and e-mail communication. You shouldn’t be inundated with questions regarding that many items, unless the product you are selling is technical in nature. If you ignore your customers, they will go away. Good customer service should be woven into the fabric of every good business. I cannot overemphasis the importance of this issue. I continue to be perplexed by the fact that it is last on the list of business priorities for some Ebay sellers!Will good customer service and communication alone make you rich on Ebay? That would be a resounding "no”. You will have to understand your market, and provide products that the Ebay community will bid on consistently. There will be “bidders & buyers” out there that will make mistakes and commit some auction sins! Forgive all Ebay sins and you will be rewarded with happy, repeat customers!

Incorporating Your Business Using Three Simple Steps

You may publish this article in your ezine, newsletter on your web site as long as the byline is included and the article is included in it's entirety. I also ask that you activate any html links found in the article and in the byline. Please send a courtesy link or email where you publish to: support@multiplestreammktg.com-------------------------------Incorporating Your Business Using Three Simple StepsBy Abe CherianCopyright ? 2005Incorporating your business today is much easier than itwas 10 or even 20 years ago. Here's three steps; securing your corporate name, filing the necessary documentation and paying the necessary filing fees. You can complete these steps yourself, use an incorporation service provider or have an attorney complete them for you.When incorporating, you must first ensure that yourcorporate name is available in the state in which you wantto incorporate. Your corporate name must not be deceptivelysimilar to a name that is already in use in that state. Aname check must be performed in the state of incorporation.You must also prepare and file all the necessarydocumentation. the Articles of Incorporation, with theappropriate state agency in the state of incorporation.Additionally, you must pay all state filing fees, initialfranchise taxes and any other initial fees. Each statecharges a filing fee to form your corporation in thatstate. These state filing fees vary greatly by state. Theyrange from under $100 to over $400.Do It Yourself. Use An Incorporation Service Provider OrUse An Attorney. If you decide to incorporate on your own,you need to be well versed in the laws of the state ofincorporation. You will need to prepare and file your owndocumentation and undertake all communications with thenecessary state agencies.If you use an incorporation service company, you submit thenecessary information, and the company checks your name,prepares and files your documents and pays the initialstate filing fees on your behalf.Incorporation service companies charge a nominal servicefee on top of the state filing fees, and you can submit allthe necessary information to them over the Internet.Attorneys will also undertake all of the necessary stepsfor you. If you use an attorney to incorporate, you canexpect to pay their hourly fee on top of the state filingfees.How long this will take depends on the time the staterequires to approve and return your completed Articles ofIncorporation varies by state. On average, it takes 4-6weeks to become incorporated. Most states will allow you to expedite the filing processfor an additional charge. Expediting filings typically takeabout 1 week. Those charges also vary by state.After your corporation is formed, an organizationalmeeting of directors must be held. At this meeting bylawsare adopted, stock is issued and the incorporation processis completed. Minutes of the organizational meeting shouldbe kept in a corporate record book.Incorporation is an important step in the life of abusiness, but unfortunately the true value of incorporatinga business is often not seen until the business faces anegative situation such as a law suit or bankruptcy. Aprimary advantage of incorporation is the limited liabilitythe corporate entity affords its shareholders "The Owners". Typically, shareholders are not liable for the debts andobligations of the corporation. Creditors will not comeknocking at the door of a shareholder to pay debts of thecorporation. In a partnership or sole proprietorship theowner's personal assets may be used to pay debts of thebusiness.Other Advantages include¡è A corporation's life is not dependent upon its members.A corporation possesses the feature of unlimited life. Ifan owner dies or wishes to sell their interest thecorporation will continue to exist and do business.¡è Retirement funds and qualified retirement plans "like401k" may be set up more easily with a corporation.¡è Ownership of a corporation is easily transferable.¡è Capital can be raised more easily through the sale ofstock.¡è A corporation possesses centralized management.Corporations are not without disadvantages. The primarydisadvantage to a corporation is double taxation. Profitsof a corporation are taxed twice when the profits aredistributed to shareholders as dividends. They are taxedfirst as income to the corporation, then as income to theshareholder.All reasonable business expenses such as salaries aredeductions against corporate income and can minimize thedouble tax. Further, the double tax can be eliminated bymaking the S corporation election with the Internal RevenueService.Other Disadvantages Include¡è There is a certain level of complexity and expense offorming a corporation.¡è Corporations have extensive record keeping requirements.¡è Operating a corporation across state lines requires thecorporation to qualify to do business in the other state.Both the Limited Liability Company "LLC" and "S"corporation also provide the limited liability to theowners/shareholders of the company, without the potentialdisadvantage of double taxation. While like corporationsthese two entities also have advantages and disadvantages,it is a good idea to learn about all three when decidingwhat form your business should take.

Short Sale Success Secrets with Foreclosures

If you're active in real estate investing, you may already realize one of the biggest issues real estate investors face: Finding Great Deals. Foreclosures at a 52-year HighWith foreclosures at a 52-year high, there are thousands of deals available on the market, if you know where to find them and how to secure them. The first challenge you'll face once you locate the property is that most of these homeowners are mortgaged to the hilt. They have no equity, and big loan payments. In fact, many actually owe more than the property is worth!Most investors will walk away from these deals because they see no obvious profit. That's because they don't know about the Short Sale.WHAT IS A SHORT SALE?The concept behind the short sale is simple: your goal as a real estate investor is to convince the bank to sell for less that is owed as payment in full. Of course, this concept is easy - buy the foreclosure from the bank at a big discount, sell the real estate, and make money! So how does it work?Success with short sales can be accomplished in the following steps: Step 1: Do your research. Many new real estate investors make the mistake of waiting until some subscription service sends you the list. The disadvantage is that a ton of other investors are also getting the list. If your first contact is to send a letter, forget it. Your letter will be lost in the huge pile the homeowner is getting from all sorts of other investors, credit repair etc. 99% of the time these go directly into the trash or a big basket unread. If you go directly to their door you've got a chance.So if you're going to mail, be the first to act when the default notices are printed in the local newspaper. Or be the first at your courthouse, if that's where they're filed first. The key to finding investment-worthy properties is to act quickly. Be disciplined and mail out the letters the very same day-in fact take them to the post office. In this business, the early bird really does catch the worm.Tip for Success: If you don't have a company that publishes your notices of default, check with local title companies or bankruptcy attorneys to see if they offer these services; you need somebody familiar with the subject that visits the courthouse often. Step 2: Develop your marketing strategy. When you have located foreclosures, make sure your timing is swift. Mail your initial letters of approach to the homeowner the same day you discover the property. Placing ads in your local papers also helps to generate leads and find homeowners eager to avoid the credit penalties involved with foreclosing. Tip for Success: A typical advertisement strategy taught in real estate training is to get listed in real estate or credit section of the classifieds. These ads typically have a bold, to the point headline, such as “Avoid Foreclosure” or “Stop Foreclosure, Today!” If you are targeting a specific property type, or reaching for higher market values, specify this in your ad. (Instead of simply “Avoid Foreclosure,” add your target market to the bottom of the ad. Example: “Avoid Foreclosure, call 1-800-555-1212. 500K and up.” You'll make more money in real estate by reaching for high-value properties, and an ad like this shows your prospects that you specialize in helping those with higher value homes avoid foreclosure.Step 3: Work with the homeowner. You can't get anywhere without the cooperation, and often gratitude, of the homeowner. The homeowner you are working with has obviously run out of options, but you'll need their trust and confidence if you plan to short sale mortgages. Remember, in these situations, you are often looked at as the “rescuer”. Make sure you explain the homeowner's part in the process thoroughly. Once they deiced to allow you to work with them, there is important paperwork you need them to fill out and sign:1. an “Authorization to Release” form that gives you permission to contact the lenders and the foreclosing attorneys.2. a sales contract - signed but leave the purchase price blank. You may need to change the numbers as you negotiate with the bank3. a financial statement - to show they can't afford to make the payments4. a hardship letter - to explain in personal terms what happened.Tip for Success: Remember that this is a stressful time for the homeowner. It's easy to get caught in the excitement of a prospective short sale profit. You can get them to make a decision when you are able to convince them that this is the right option for them Emphasize the benefits of working with you, and then ask for them to take action. Make sure to let them know that once your contract is signed, and the bank accepts it; they'll be free to move on with their life. Step 4: Negotiate with the bank. Although banks don't enjoy taking a loss, it is a simple fact of the lending business that short sales are a necessary evil for lenders. Indeed owning the property (a non-performing asset) is even more expensive than selling it for a loss. Consider:Banks use short sales to drop unwanted property quickly without having to deal with the REO office and go through the long process of putting the home back on the market. When you speak with the Loss Mitigation department, remember, this property is actually costing them money! Federal regulations require somewhere between $300,000 and $800,000 (or more!) to be held in reserve by lenders, which is many times over the actual price of the bad debt. When you call the bank and ask for the Loss Mitigation Department (the department that handles properties that are in foreclosure) tell the person handling the account that you are trying to help Mr. X with his foreclosure and you are willing to buy the property from him, but due to the condition of the property/declining values/etc. you are only willing to pay X amount. This is where your negotiations begin. Be firm and polite, but don't ever make threats to not buy or be forceful in your approach. Loss mitigators are often busy and overworked, and they want to see you as somebody who is minimizing the damage - and hassle - of the bad debt. Tip for Success: Larger banks are the easiest to deal with when working with short sales and foreclosures. This is because the larger banks have more resource, more experience, and more loans! While there are some larger banks that don't work with short sales at all, other banks, such as Wells Fargo or Fairbanks Capital, tend to work with a much larger volume of short sales. Once you have worked with enough short sales, you'll find that you have inside contacts at some of the larger banks; be friendly, ask them about their day, Develop a rapport. Sometimes, they'll open up about problems they're facing or current trends, which of course, you'll need to keep on top of! You don't have to be a real estate pro to see the potential for making money with short sales, and now you definitely have some great tools to get started. Great deals in real estate are out there, and with today's market, your potential for profit is limitless. Just keep in mind: do your research, market your services, and treat the homeowners and lenders with respect. When you use this approach with short sales, you can make a win-win for everybody, especially the officers at your own bank when you cash in on your profit! In the next article, we'll discuss the tricks and tips in convincing the bank to take a big discount on the short sale.Best of Success,

Achieving Financial Security in an Unreliable Economy

Financial Security is a false concept that developed in American society based on the idea that security comes from the perceived reliability of a regular or planned paycheck. Many people, believing in the commitment of their corporations to their well-being, have found themselves downsized, layed-off, outsourced, transferred, or, in some cases, even fired. The immediate reality becomes harshly apparent and sadly disappointing.The bottom line is that Corporate America will always be focused on the bottom line. As a dependent corporate employee, you are subject to the whims of the corporation. You have absolutely no control over how much you earn, where you work, the longevity and reliability of your income, or your position. You are simply a number. At any given moment, some nameless pencil-pushing number-cruncher, can deem that you are no longer an asset to the company and, rather, have become a liability. At any given moment, it can be deemed that you no longer factor into the profitability of the corporation - and your OUT. They don't care if you have a mortgage to pay, 3 kids in college or a new shiny car with a hefty payment. They don't care that you've come in early for the last 9 years or given 20 years of your life to them. The bottom line is that you don't effect the bottom line in a positive way...so you're OUT.Corporations no longer hold value in employee commitment or dedication. Each day, companies are choosing to cut costs by outsourcing to less expensive countries with cheaper labor, downsize, and reduce costs by eliminating cost of living increases, benefits and retirement guarantees. Recently, the media has been focusing on the deliberate actions of corporations that cost employees each year. The Christian Science Monitor, on November 7th, 2005, featured an article, “Workers Face Paycheck Pinch”. In the article, the author, Mark Trumbell, details the lag of Corporate America to maintain pay increases with inflation:"For all its strength, the current economic expansion is not boosting the American worker's paycheck. Wages have been rising nominally: Average pay rose 8 cents last month to $16.27 an hour, according to a government report Friday. That's not fast enough to counter inflation.By one common measure, average pay for an hour's work has less purchasing power than it had four years ago - when the current growth cycle began. It's a pattern of weak wage growth that's now several years old, but the trend has worsened in recent months. Wages for the most recent quarter were 2.3 percent lower, after inflation, than workers received a year before"Time Magazine recently featured an article entitled “Broken Promises”"It was part of the American Dream, a pledge made by corporations to their workers: for your decades of toil, you will be assured retirement benefits like a pension and health care. Now more and more companies are walking away from that promise, leaving millions of Americans at risk of an impoverished retirement.""Corporate promises are often not worth the paper they're printed on. Businesses in one industry after another are revoking long-standing commitments to workers." (Bartlett and Steele, October 31, 2005, p. 32-33)So, how do you achieve Financial Security in this changing global economy? Employers aren't even keeping up with inflation and are doing everything in their power to reduce benefits and retirement income. The days of being rewarded for loyalty to corporations are long gone – it’s now every person for themselves. In addition, loop holes in corporate law enable companies to restructure, file bankruptcy and maneuver their way out of promises to employers to provide benefits.In reality, true Financial Security is belief in yourself and your ability to instinctively create income for yourself at any time, anywhere. Entrepreneurs understand true Financial Security. They’re self-reliant, creative, independent and solution focused. We know that at any given time, regardless of the economy, trends, timing, etc. that we have the skills, know-how, and guts to create our life. Entrepreneurs refuse to be dependent on or subject to the whims or decisions of corporate America, rather establishing themselves as corporations, producing their own incomes through commitment, service and sheer motivation. We are responsible for our own retirements and count on the promises of no one. Entrepreneurs ARE financial security and as such we reap the rewards.There are many opportunities for people to become successful entrepreneurs. Thousands of people have made fortunes on the internet alone. Decide what type of business you want, what your ultimate goal is (time, money, leisure, etc) and go from there. A common misconception is that businesses take thousands of dollars to start. It is true of some, but there are many lucrative opportunities available for nominal start-up costs. Once you make the decision to be self-employed, do your research, find the right business for you and move forward from there.

The Importance of Personal Background Checks

The purpose of personal background checks is to get a feel for the applicant’s character. Personal and professional references are a good starting point, however, experts in the investigative field caution employers on using this method solely. Prospective employees are obviously going to give references of people whom they trust will provide a good character reference for them. Those references may not necessarily be fabricating information regarding the applicant; they simply may not know pertinent information about him or her. Another method employer’s use is obtaining a credit report on the prospective employee. While privacy advocates argue the necessity in reviewing credit reports, many employers find them to be full of important information. An employer can determine what types of credit accounts the applicant has open and their history of paying bills on time. For some employers, this is a good indicator of how responsible of an employee he or she will be. Employers also may draw a correlation between credit history, job performance and employee retention. Though these conclusions are heatedly debated, according to the Fair Credit Reporting Act, employers do have the right to investigate much of a person’s credit history as a pre-employment tool. Credit reports also contain pertinent job and address information. Some employers and private investigation firms use credit reports as a means of cross-referencing information supplied on the employment application. Though credit reports contain much needed personal information, they should be used in conjunction with other personal background check methods in order to have a well-rounded view of the applicant’s character and ability to perform the job duties. This type of consumer report also contains information that may be valuable, although legally questionable, to the employer. Age and marital status are data that are often reported. Employers should already be familiar with privacy and equal opportunity legislation and be careful not to discriminate on the basis of these facts. The purpose of performing personal background checks is to ensure the safety and security of the company and violating Federal laws is out of the question.Identity theft, criminal prosecutions, outstanding debt and bankruptcies are all examples of information that can be acquired through a personal background check. As an employer, it is your responsibility to only gather what information you need; information gathered should be directly related to the safety and quality of the company and more specifically, the job performed. For example, if a company needs to hire a receptionist, it might not be necessary to know whether or not he or she has filed bankruptcy recently. Other than using that as a tool to judge character, some information gathered through personal background checks may not be relevant to the position.If an employer should require a more extensive background check, things such as who someone has dated, use of alcohol or drugs or personal lifestyle can also be obtained. Usually when a firm investigates a person’s background, they may interview neighbors, friends, associated, former co-workers and others to gain a picture of the person as a whole. Some of the information may be of interest to the employer and some may be irrelevant. It is important when hiring an investigator, to let them know specific information you are looking for. When investigating a prospective employee’s background, it is vitally important to be honest about your intentions. Federal law requires employers to provide separate consent forms for each type of investigation to be conducted; it is also good business practice to be forthcoming about these matters. Background checks on employee’s can save companies money by avoiding potential lawsuits, theft, and costly employee retention. It is usually best to outsource the work to a private firm, if the information is very detailed. For some employers, searching at the local or state level is much more cost-effective and may produce the results they need without outsourcing.

The Art of Employee Motivation

If you think that your employees’ poor performance on their designated jobs is costing you a whole lot of loss profits, then instead of just doing a total overhaul of your employee roster, why not try to do some employee motivation tactics to get them to actually come around and be able to save your company from looming bankruptcy. It really is fairly easy and simple to rouse some employee motivation, you just have to take these techniques to heart:People nowadays are concerned of the lack of importance that is being put into health care plans. Is your company one of those companies who does not provide their employees with the health benefits that they should be entitled too? This is a possible reason why your employees’ morale are down. You need to reassess the situation and try to give them the health benefits that will ensure them that they will be protected by the company that they have been loyal even in their times of sickness. Always remember that a happy worker is a satisfied worker so make sure to use this employee motivation tool in order to give your employees morale a much needed boost.Remember, companies are usually employed with some women who will, most often than not, become mothers. So it is highly important that you know their needs especially during the time when they would want to avail of their maternity leave. It is important that your company, no matter what kind of product or service you offer, is always sensitive to your employees needs, no matter what gender. When it comes to having a good health plan for your employees, you must be sure that your health plan is actually of any good or else it would not really do any good to your employees’ morale. Make sure that the health plan will be able to cover all their basic needs and it wouldn’t really hurt if you throw in some added kicks. Basic health care plans that you can use for employee motivation actually covers the following: full coverage for any basic illness or injury, coverage of hospital payments in case the employee has to be checked in at the hospital or if there are some minor surgeries that need to be done.Added benefits to further boost employee motivation through a health care plan is through having their dental health covered as well as their optical needs, eyeglass subsidies as well as free dental cleaning and check-ups will be a good treat for your employees and will surely be a great added employee motivation move.Apart from having a good health care plan for your employee motivation tactics, you must also be able to provide for them some other additional care such as an insurance plan which they can rely on in case something bad happens to them and they are still of service to your company. Even if this employee motivation move will not be availed by the employee’s family during the time of his or her service, your employee can still choose to continue on paying for the premiums of the insurance plan even after he or she has retired from your company. Unfortunately for your employees, once they resign from a job position at you company the said insurance plan will be revoked since the company will not be able to play for your insurance premiums anymore (remember, all the payments from these employee motivation tactics will actually come from the employee’s salary). Another great employee motivation move for loyal employees of your company is to have a car loan ready for them, employees who have already served some considerable amount of years in the company should be entitled to a car plan wherein deductions from their salary will be used to pay for their vehicle of choice. This is a great employee motivation move since those who are not able to afford a car (a brand new car at that!) would actually want to continue staying in your company because of this added employee motivation benefit.From time to time, especially during special occasions, you need to be able to give your employees some added morale boost by organizing events or parties that will foster camaraderie among your employees. A little good time certainly wouldn’t hurt anyone and this will all be in the spirit of good ole’ company fun. Employee motivation directed events such as Christmas parties and company picnics are surely a welcome treat to your seemingly overworked and over fatigue employees. You must also remember to give your employees some time to unwind like providing your regular employees the benefit of having a two-week paid vacation leave. That’s the least you can do for your employees who you have held captive for the majority of the year in your office.These are really simple and easy employee motivation tactics that you can do in order to boost your employees’ morale and be able to ensure a good upkeep of your company.

Stuck With A Zero Marketing Budget For Client Gifts?

Would you really dare to give each client a gift of $500 this Christmas? What about something worth $2000? Or maybe $5000? You think I’m joking right? I mean, here you are struggling with your 50 cent marketing budget and I’m giving you the key to your bankruptcy. At Christmas time, too! Step up to the roller coaster and you’ll find out how Marie beat the system with some simple, yet smart marketing tactics and how you can too. Yeah, just like that…Marie Ain’t No Santa Claus!Nope! She’s just like you and me.She can do the Ho! Ho! Ho bit, until she’s faced with the prospect of expensive client gifts. Oh sure she wants to revel in the spirit of giving, but her bank balance is screaming for some mouth to mouth resuscitation. And that’s something she can’t ignore.What’s Worse Is Marie’s Clients Probably Won’t Even Like The Gifts!Look at yourself. Did you really like that burgundy sweater you got last year? Or that gift basket full of calorie-ridden chocolates that made you wish you hadn’t seen them at all.Let’s face it. Murphy’s Law, kicks in bigger and bolder at this time of the year than any other. On average (and often because you’re buying gifts in bulk) you’re giving your client a gift that’s so far off the mark that you might as well throw it in your own trash can and save him the trouble. How Can Marie Play Scrooge And Santa Simultaneously?There’s one simple concept every business ignores. It’s called Spare Capacity. Hotels are never totally booked, flights are never quite packed to the gills, and by golly, most businesses like yours and mine (no matter how busy) always have some free space and time. Marie could use this factor to her advantage. If she approached my business, these are the steps she would logically follow.1-2-3, Cha, Cha, Cha (Here Are The Steps!) Step 1: It’s all in the way Marie puts it. If she simply asked me to speak to her clients, I might decline, but if she made it extremely tantalizing, I’d be only too willing. “How would you like to meet with 20 new clients, that would be very keen to do business with you?” That kind of question would get my curiosity wound up pretty quickly. She can then explain how she would be introducing me to 20 of her top clients. All I had to do was offer each of them an hour of my time. If I did a good job, I would get a whole bunch of new clients that would be quite eager to meet me. Let’s say I charge $500 for a consultation. Marie could qualify her clients well, and give them each a voucher to meet up with me. In this consultation, they would have the opportunity to throw me any of their marketing issues and I would have the chance to wow them with my fancy footwork.Step 2: Once we’re in agreement, she would create a voucher that she can give to her clients. This voucher offers them the specified time at my convenience (I only need to meet them in my free time). This voucher would offer them the benefit of some radical, unusual marketing either via the net, phone or in person. To make the deal sweeter, Marie could offer me 20 hours of her time to meet my clients.Step 3: We give these vouchers to our respective clients for Christmas. We tell them that we’ve bought them a gift that will help them tremendously in their business and that the gift is worth $500 or $2000, as the case may be. Any one of those solutions would be worth anything from $200 to $20,000, depending on what the client did with the idea.How does that compare with your $20 gift right now?Where Do You Start Looking?There are no rules. Just because you sell product, it doesn’t mean you have to do this Christmas swap with products. If you sell products like beds, start looking at chiropractors, massage therapists, interior designers. If you look around you, you will find dozens of businesses that will be more than willing to play Christmas gift if there is something in it for them. If you sell services…ditto. Look for services as well as products. Every one has spare capacity. Services are most highly valued because they’re abstract and based on the person themselves, but you can find products that are sitting in someone’s warehouse and they’d be glad for you to take them off their hands, in return for access to your top clients. Best of all, this solves the problem of the suitability of the gift. Wouldn’t a business be more excited by a highly prized service than another daily planner? Why This Concept May Not Work For YouMarie, has got to make sure that I give solid information in the consulting session to her clients. Sales pitches are a no-no. Your swap must be a REAL gift, not some shoddily disguised sales pitch. Pick your Christmas Partners carefully. A lot could go wrong here if all they’re seeing is dollar signs.The second reason why this may not work for you is sheer laziness. You might find it easier to step into a gift shop and blow $1000 on gifts for your clients. It’s easy and it beats having to knock on doors and trudge through snow or sun (depending on where you live on the planet). Hopefully You’re Not That ‘Duh!’When you give your gift, all you’re doing is trying to make your current client happy (and that’s great!). With Marie’s concept, you’re actually getting a chance to meet another 20 new clients. Say that quietly to yourself: Twenty new clients without you having to do any selling. You don’t even have to spend any advertising or marketing moolah to get them in the door. Best of all, they will actually be grateful to have you over. Does that send a chill down your spine? What if you could do this deal with three people just like Marie? Would 80 appointments be good enough for you?Are You Going To Have a great NEW YEAR Or What?No one ever told you about Santa Scrooge did they? Well, now that you know, what are you going to do about it? This rocks, my friend. Now go there and create a New Year that’s really worth big bucks in your balance sheet. If you do, the next time your banker hears Ho! Ho! Ho, he knows it’s not Santa!

Bottleneck-oriented Business Management

Simple and effective Business Management In every enterprise there are, at every time, one or more bottlenecks, which have influence to the commercial situation. Bottleneck-oriented business management has the purpose to early track the bottlenecks and to remove them, to allow an optimum of commercial development. To know at any time, what a business lacks of and to be able to add the missing things, is today a determining competition advantage. Bottlenecks can be, e.g.: low sales proceeds high due or overdue accounts receivables low liquidity (Cash on Hand, etc.) high amount of liabilities low number of customers too many new customers too high capacity utilization defective administration or management and a lot more. These example show that bottlenecks not only concern negative circumstances, but also can apply to positive commercial development. If an enterprise takes up many new customers, this results in new orders, which lead to other circumstances, like a possible excess in capacity utilization. In case the excess of capacity utilization stays for a longer time, this may result in a lower employee motivation, because of a slump in working atmosphere within the company, which then could lead to less qualtiy of the work performed. Due to a TIMELY reporting system many companies take care of reaching the desired commercial development. However, a regular analysis of expenses or the annual reports are not enough to control a business today. In the today's dynamic markets these evaluations are too statical, too much oriented on the past commercial development, which had been achieved. Also cost accounting only shows what has happened in the past. The actual direction in which a business is running could not be seen. Imagine a business to be a car. If you sat down in a car, do you like to receive information from the instruments from the last year or month? Probably not. You would like to have actual information about fuel tank content, coolant temperature and a lot more. Bottleneck-oriented business management should exactly bring the most important and actual information about a business to you, including so-called early warning signals (Screenshot abenetis ERS-Diagram). Data oriented to the past for early-warning-systems? A working early-warning-system needs data which are not oriented to the past, like from cost accounting or year-/month-end-closeings. It needs data from so-called early indicators, which has to be gathered from different areas of an enterprise. Of course, figures from the finance and accounting department belong into an early-warning-system, but they only have a subordinated role, because they are oriented to the past. Nowadays the reporting must show the present situation of a business. In many businesses the expenditure of time for the reporting rose considerably, due to the today's flood of information. Aggravatingly added to this, is the selection of the really relevant business ratios, which allow an appropriate overview of the actual business situation. Too often reports are prepared, which are not perceived by anybody, due to the lack of necessary statements about the business development. There are already proven business-ratio-systems, that enterprises only need to take over. Get back into the car again, imagine you have only one instrument in front of you, which shows the value "35". What does this signify? It is not recognizable how many fuel exists, how the Temperature of the coolant is or how fast the car is driving, etc. At this example you could recognize the little expressiveness of only one business ratio. It shows the importance to use the right business ratios, which must have a connection to each other and which have a different temporal origin. Nevertheless, many business ratio systems are mostly based on data which originate from the past. This turns often to the problem, that immediate information are not available, to indicate the actual situation of a business. However, there is still the alternative, to reduce the period of the past. How would it be with one week instead of analysing business data every 4 weeks? This would lead to the fact that you could act a few weeks earlier, if something should run a little bit inclinedly. Only very few data are needed to receive an informative evaluation. This again is comparably with a car. If you are driving with your car, you only receive a small, well-chosen number of information and nevertheless, have an actual picture of the situation. This is also possible for businesses, as well! As a motorist we receive only one fraction of the data which is acquired by the system of the car, and just these fraction of information is enough for us to reach the desired destination. When traveling usually we are well prepared, but the principle of the preparations is often neglected in business operation. As it is with traveling, the final goal has to be clearly stated by the business management. This could be done by having planing data available. Only by target/actual comparison divergences of the commercial development will be recognized. Unfortunately, many small businesses renounce to use plan data. Besides, it is not about, to cut plan data into the smallest pieces, but only to get a rough picture, what the business is going to achieve. It is absolutely possible to run a business on the basis of the figures from the previous year, however, to use these figures, the past commercial development should be taken into consideration. So the figures from the previous year should be improved to fit with the new goals. And finished are the planning data and the basis for an operational risk management are laid. Still if it is most important to know the actual bottlenecks in business operation. Recognize problems and act! One of the most important factors in business management is the early recognition of problems and potentials. There are bottlenecks in every business, which could have serious results. Pecuniary difficulties could lead to bankruptcy for example. Therefore symptoms must be recognized early, in order to turn a possible crisis away and to secure the future of your business. Also to use available potentials, regular analyses should be done. Nowadays products and services could not be sold forever, because product cycles become shorter and shorter due to market dynamism. The recognition and development of potentials is exceptionally important, to avoid losing the already achieved basis of a business.

Is Cold Calling Dead?

And if laws are being passed to put it to rest once and for all, how do we generate business from now on?Opinions on the subject vary greatly depending on the background of the individual. For example, most of the old-timers are vigilant in preaching their belief that the only possible way to succeed in the world of selling is to make no less than fifty calls each and every day. On the other hand, younger salespeople tend to become frustrated with this rather quickly and begin looking for more innovative ways to generate business.I was just reminded of how ingrained this cold calling belief is. I spoke with a friend who left a sales position with a major merchant processing bank only a few weeks after starting. The reason? He was required to make a minimum of 400 cold calls each and every week and to document his activity with business cards. He is highly experienced and knows how to generate business without knocking on 400 doors per week and decided to discuss the strategies that have worked for him in the past with his managers. Their response? This is how we've done it for forty years and we're not about to change.That response, in my opinion, is the reason we're seeing record business bankruptcies today. The world and our economy have changed and are breaking into bold, unchartered territory. But the management of most business organizations insists on doing things the old way, even though the old way produces less and less results as time goes on.The concept of "Permission Marketing" is slowly but surely gaining popularity as the old idea of "Interruption Marketing" becomes less efficient and more wasteful. There are several reasons why cold calling in particular has become less effective as we move further into the Information Age. It destroys your status as a business equal. It forces you to spend time with unqualified prospects while the qualified ones are buying from your competition. It annoys people and is increasingly considered to be rude and disrespectful. Moreover, it may now be illegal (and in several states it's been illegal for quite some time). But, most importantly, it destroys sales peoples attitudes.Where is the good news in all of this? Well, the great news is that if you begin using new, innovative, "Information Age" methods for prospecting, you'll be miles ahead of your competitors who are wasting their time annoying people with cold calls. In this age of the Internet and vast communication networks, why on earth would anyone knock on doors or make cold phone calls to look for business?Think of the power at your fingertips: there are literally dozens of ways to use the Web and e-mail to let the idea of Permission Marketing do its magic. Allow customers to raise their hands and let you know they're interested. Begin finding, implementing and reaping the benefits of this bold, new Information Age we are in. Your competitors will be the ones standing in bankruptcy court and explaining their "do-not-call" violations to the government while you are happily taking orders.

Factoring Financing: How to grow your business without debt or loans

What is factoring? Accounts receivable financing, also known as factoring, is a powerful financial tool that has fueled the growth and success of a number of companies. Factoring enables companies to capitalize on their unpaid receivables by selling them to a factoring company for immediate payment. With factoring, companies immediately get paid for their invoiced work from the factoring finance company, while the factoring company waits to be paid by the customers. Factoring strengthens a business' cash position by shortening the time to get invoices paid to 48 hours and providing the needed funds to meet current expenses and target new opportunities. Factoring Benefits As opposed to loans and lines of credit that require that the client have tangible assets and strong financials, factoring relies more heavily on the financial strength of the clients' customer. This is a critical feature,since many new and small businesses do not meet the financial criteria of traditional lending institutions. However, many small businesses have a roster of financially strong customers that can be leveraged. Factoring empowers businesses to capitalize on their customer list, and provides them with a tool to transform outstanding receivables into immediate cash, without generating debt. Since Factoring is not a loan, it is an ideal financial product for the following: o New and emerging businesses including small and home businesses, consultants and solo-preneurs. o Businesses with financially strong customers o Businesses that are preparing to grow significantly o Business with intangible assets (e.g. consultants) o Businesses that do not want to take a loan An additional benefit of factoring is that the factor usually assumes part of the clients' credit risk for the customer. This means that if the customer becomes financially insolvent due to bankruptcy and does not pay the invoice, the factor will assume the loss. This is a critical service for small companies who may not be able to afford the bankruptcy of a customer. Costs The costs of a factoring transaction - also known as the discount - vary based on a number of variables such as the financial strength of the customer and the amount being factored. Generally, the discount is a percentage of the invoice's face value that increases with time until the invoice gets paid. Small businesses, those that have between $20,000 and $300,000 in yearly revenues, can expect to pay a discount rate of about 2% for every ten (10) days that the invoice remains unpaid. Businesses with factorable revenues in excess of $300,000 can expect lower discount rates. Factoring at Work: Business Services and Products, Inc. Case Study Business Services and Products, Inc. (BSP, Inc.) is a small fictional company, which provides business consulting and equipment to local companies. It has $300,000 of annual revenues and during the past year BSP Inc. has enjoyed significant sales growth. Although most business owners would be very happy to manage such a company, Jane Sullivan, BSP Inc's president, is very worried about her company's financial position. Most of BSP Inc.'s customers are large companies with a good reputation for always paying their invoices. However they always take between 30 to 45 days to pay them. BSP Inc., however, needs to pay their employees every two weeks and their vendors every four weeks. This discrepancy between the time that customers pay their bills and the time BSP Inc. needs to pay their employees and vendors has created cash flow problems in the past. Furthermore, these cash flow problems have already caused Jane to delay payroll twice this year and have placed her trade (vendor) credit in jeopardy multiple times. This has also caused her to pass on a number of significant business opportunities because she was unsure of the company's financial ability to hire and pay for additional staffers. Unfortunately, BSP Inc. did not have a large enough financial cushion in the bank to afford paying employees while waiting for 45 days new clients to pay their invoices. The following table provides an overview of BSP, Inc's current financial position. Business Services and Products, Inc (without financing) Yearly sales: $300,000 Lost new sales opportunities: Unknown Total Sales: $300,000 Variable Costs (60% of Sales): $180,000 Fixed Costs (Rent, phones, etc): $20,000 Total Costs: $200,000 Profit (Sales - Costs): $100,000 Although the company's prospects appear great, Jane may have to stall her company's growth until she builds a large enough cash cushion at the bank to finance her company's growth. After careful consideration, Jane decided that a factoring line of working capital could help strengthen her company's financial position. Furthermore, factoring her invoices would enable BSP Inc. to take on new customers and continue growing, knowing that she could capitalize on her slow paying customers. BSP Inc.'s financing agreement will provide the company with an advance of 70% of her invoiced services. This means that the company can get 70% of the face value of the factored invoices within 24 to 48 hours of submitting them to the factor. The remaining 30% of the funds, less the factoring fees, will be quickly rebated as soon as the customer pays their invoice.This line of working capital strengthened the company's financial position and bank account, enabling Jane to pay for new employees to service new contracts. Jane also decided to use the extra capital to pay her vendors early, obtaining quick payment discounts and helping to reduce the cost of factoring. BSP Inc. customers pay their invoices within 30 days of receipt. The discount (factoring fee) for these invoices is 6%. Every time an invoice is paid, the factor rebates BSP Inc. the remaining 30% that was not advanced less the factoring fee. This means that once the transaction is completed, the factor rebates 24% (30% - 6%) to BSP Inc. Thanks to the factoring line of working capital, Jane was also to secure an additional $120,000 worth of business, bringing her annual revenues to $420,000. The following table shows BSP Inc.'s financial position a year after using factoring. Business Services and Products (with factoring) Existing Sales: $300,000 New Sales: $120,000 (factored) Total Sales: $420,000 Variable Costs (60% of Sales): $252,000 Fixed Costs (Rent, phones, etc.): $20,000 Cost of Factoring (6% of $120,000): $7,200 Total Costs: $279,200 Net Profit (Sales - Costs): $140,800 As can be seen from the above table, factoring helped BSP Inc. increase profits substantially from $100,000 to $140,800 - a 40% increase. It placed BSP Inc. on a more stable financial footing, priming it for growth. Furthermore, the cost impact of factoring on the bottom line was minimal, as it was easily absorbed by the additional business, showing that factoring was paid for directly by the growth.

Government Grants - What are they and how to get them ?

None of these Government Grants require a credit check, collateral, security deposits or co-signers, you can apply even if you have a bankruptcy or bad credit, it doesn't matter. Its Free Money Never Repay! The Federal Government is Giving out over 155.5 billion dollars in Business Grants!Receive Government Small Business Grants for virtually any type of business. Whether it is to start a business or expand your existing business there is money for waiting just for you. The Federal government provides this money to help existing small business owners and those who want to start their own business change their lives and achieve financial independence.The United States Government wants your Small Business to succeed and you will be amazed at the lengths they will go to help ensure your success. At Grant Seeker Pro™ we have designed a State of the art software program that will aid you in locating the perfect grant or grants for your small business!Once you find the programs for Small Business Grants that fit your needs you can use the Grant Seeker Pro™ software program to complete the applications! Don't forget to use your Grant Seeker Pro™ to complete your business plan also!Facts About Government Business Grants:# Over 20 million people gets Government grants every year# Over 10 BILLION dollars for entrepreneurs in the form of Low Interest Small Business Loans. # 4,000,000 people get money to invest in real estate!# Did you know that if every business in America were to apply for and receive an equal share of Government Small Business Grants that each and every business in this great country would receive a $70,000 free cash grant? # Did you know that H. Ross Perot has received Government Small Business Grants?# Did you know Paul Newman has received Business Grants.# Did you know Donald Trump has used Small Business Grants to fund many programs.# Most recently the airlines have received Billions in grants to make sure they stay afloat through these troubled times.Learn about complicated Tax Refunds or Tax Credits. These are programs largely overlooked by the Small Business owner. At tax time these special incentive programs can (depending on the size of your business) save you tens of thousands of dollars!In spite of the perception that people should not look to the government for help, the great government give-away programs have remained so incredibly huge that if each of the approximately 8 million businesses applied for an equal share, they would each receive over $70,000. Thought Affirmative Action was dead? If you did you thought wrong. Though many of the catch phrases are no longer in use most of the money that was available still is.Every year Congressmen and Senators make promises to the people that put them in office. Many of those promises are made to minority groups in specific areas but most are made at a National level.There are also Reserved Free Government Cash Grants now available for the following special interest groups. American Indians, Veterans, Family Members of Veterans, Low Income Families, Community Block Grants, Non Profit Organizations, First Time Home Buyers, Artists, Musicians, Nurses, Teachers, Researchers, The Disabled, People Suffering From HIV and AIDS, Substance Abuse. There are literally Millions Available; All you have to do is ask! Can You Imagine receiving:One Billion Dollars in Minority Business Grants for business start up!Millions in Minority Business Grants to expand your existing business!Receive $8,000 in Minority Grant for Free Legal Advice!Millions Available In Minority Grants for the purchase of your first home!Receive $75,000 Housing Grant to Remodel Your House!Receive $6,000 in Minority Scholarship Grants for College Tuition!

MLM Success Training: Why Some People Become Wealthy in Network Marketing and Others Don’t.

Regardless of whether you watch the Oprah Winfrey show or not, the story of her success is fascinating. You can't say where she is today is the result of any special advantages she had growing up. In fact, she came from a broken family and she was abused as a child. She's also African-American and a woman, so discrimination was likely a factor that counted against her somewhere along the way.So why is she now worth a billion dollars while many Harvard-educated, white males who grew up with every advantage only make a comfortable living?Ever wonder why success seems to come easily for some people while others struggle at everything they do? What makes the difference?Success in Multi-Level Marketing (MLM), Network Marketing, or anything else in life is predictable and can be duplicated by following time-tested principles that all millionaires use.In fact, if you don't receive training in these principles of wealth, you can NEVER have it in your life. At least not for long. If you do somehow become wealthy in MLM without learning these principles, you won't keep it.Want proof? Just look at people who have won the lottery:- William "Bud" Post won $16.2 million in the Pennsylvania lottery in 1988. Now he lives on his Social Security and food stamps which amounts to $450 a month. - Ken Proxmire was a machinist when he won $1 million in the Michigan lottery. He moved to California and went into the car business with his brothers and he filed for bankruptcy within five years. - Suzanne Mullins won $4.2 million in the Virginia lottery in 1993. Today she's deeply in debt to a company that loaned her money using the winnings as collateral.- "Winning the lottery isn't always what it's cracked up to be," says Evelyn Adams. She won the New Jersey lottery not just once, but twice (1985, 1986), in an amount of $5.4 million. Today she lives in a trailer and all the money is gone.- Janite Lee from Missouri won $18 million in 1993. She generously gave her money to a variety of causes including politics, education and the community. According to published reports, eight years after winning, Lee had filed for bankruptcy with only $700 left in two bank accounts and no cash on hand.- Willie Hurt of Lansing, Mich., won $3.1 million in 1989 and two years later he was broke and charged with murder. His lawyer says he spent his fortune on a divorce and cocaine.- Charles Riddle of Belleville, Mich., won $1 million in 1975. Later he got divorced, faced several lawsuits and was indicted for selling cocaine. People have a "financial thermostat" and just like the thermostat that controls the heating or cooling in your house, your thermostat is currently set for the amount of money you have. If you somehow receive more money from your MLM business than your financial thermostat is set for, like the lottery winners above, you'll waste it away until you are back to your set level. If you want more money from your Network Marketing business, or you want to keep the money you are receiving, you have to raise your financial thermostat. It's that simple.How do you raise your thermostat? By learning and practicing the principles of wealth. All self-made millionaires live by these principles.If you're not currently having MLM success, it's likely because you aren't applying the same principles that Oprah and all other billionaires and millionaires apply to achieve their success. All that's standing in the way between you and success is the application of these general principles. So where do you learn these success principles?The best place is directly from people who understand the principles and have had success using them. There's no quicker way to get where you want to go than to find a mentor to guide you along your way. The person you want is someone who is currently where you want to be, and is willing to teach you the wealth principles. Of course, not all successful people fully understand these principles even though they naturally apply them.Another good way to learn the principles of wealth is through the greatest success book of all time, Napoleon Hill’s Think and Grow Rich. The principles you need to understand are in this book. You'll need to do some work to uncover them, understand them, and put them into practice, but they are in the book.Napoleon Hill’s Think and Grow Rich is all about using the same resources that millionaires use to get the same results as them.If you are not experiencing the kind of financial success you desire, perhaps all you need is a little MLM success training from a mentor or by learning and practicing the principles in Think and Grow Rich. Sometimes all it takes is few subtle shifts in your thought processes to create a GIANT difference in your results!

MORAL ARMOR'S Economic Warning for Americans

For years we’ve suffered under recession, prompting us to ask, When will it end? My answer is, “It’s only the beginning.”Historically, recessions are the result of high interest rates, pushed up as the result of loose money policies. Recovery comes when citizens begin to spend more wisely, save money and pay off their debts, but not this time. Never before have credit policies been so loose for so long, and there has been no decrease in consumer debt. It’s still on the rise, but Americans are NOT fundamentally to blame; immoral monetary policy is.Banks used to consider a safe loan applicant to have a 36% or less Debt to Income Ratio (debt divided by gross income). This percentage is a time-proven figure indicating the financial health of an individual. Now, during the worst economy in twenty years and with no signs of recovery, our banks gladly loan to applicants with a 56% Debt to Income. What has changed? Are banks suddenly more generous? I don’t think so. One good question to ask is, Why are banks willing to accept the additional risk? But the real question to ask is, Where is this money coming from?Not one in a thousand Americans knows the true nature of our banking system, so they have no idea that what happened in 1929 is about to happen again. Nor do they know that it was done deliberately then, and is being done deliberately now. We have in this country one of the most corrupt institutions known to Man, and I refer to the Federal Reserve. Since it’s inception in 1913, every dollar created has interest being paid on it as if it were borrowed. This debt cannot be extinguished without destroying the currency itself, and has spawned a nightmare of debt that presently amounts to over $360 Billion in interest paid per year, accounting for half the personal income tax of the nation. Due to this, America is forced to create $7 Billion daily to cover the $1 Billion it pays in interest daily due to the Federal Reserve System. This is where the public comes in.Federal Reserve bankers have to find a way to spend $6 Billion every day while masking the inflation it causes. Throughout the nineties it was done through real estate and the stock market. Now it is almost exclusively being put into real estate. How on Earth could so many mortgage companies be offering interest only, no money down, multi-hundred thousand or million dollar loans with high applicant debt ratios?Here is a hypothetical example of what’s going to happen: Your mortgage banker tells you that with a 56% debt ratio, you can afford a $300,000 home, no money down. You secure the loan at 4%, costing $1432 per month. A few years later, you’re thrown out of work for three months. Back payments amount to $4296 plus late fees, legal fees, etc., and another $5k on cars, credit cards and everything else. Unable to catch up, you’ll try to refinance, but interest rates have moved up to 7%. A $310,000 loan now costs $2062 per month—more than you can afford, but banks will have tightened lending policies back to 36% and you no longer qualify for the home you own anyway. Accounting for all other debt, you now qualify for a shocking $360 per month. You are trapped, and the new bankruptcy laws they pushed for will never let you walk away.You owned this home in a perfect numbers scenario, but any complications—unemployment, salary reduction, interest rate increase, debt ratio change, bruised credit rating, depressed home values--and you’re cooked. One mishap and every financial measure works against you. Your financial angel has suddenly become your greatest enemy. Welcome to the Federal Reserve System and their freshly engineered worldwide depression.If you were to approach the housing market fresh, you would find that you only qualify for a $55k house now, along with the market of buyers you were hoping to unload your balloon-house on. The bank forecloses, auctions it off and you’re personally responsible for the difference, which could be massive. Bankruptcy is right around the corner, and deplorably, you are the only one who will be held accountable. You will then be a debt slave as the Federal Reserve intends, and game over.My advice is to get as financially stable as you can. Mathematically, our situation is much worse than that of the Great Depression. No matter how generous these bankers appear, pare down monthly outlays to 36% D/I or less. Set aside three to six months of mortgage payments in case you become unemployed. Make sure you can ride out the storm.We are coming to a point in American society to where it’s either them or us, and mass awareness is the key to our survival. Most believe the Federal Reserve is a part of the government, but it’s just a name. The Fed is a private corporation set up for private gain, with a dark history of stock market crashes, financial panics, political manipulation and ultimately, mass poverty and hunger riots. Our struggle is not new: currency control has switched from public to private hands EIGHT times since our country’s inception, and needs to be reclaimed by the people, one last time.Don’t think you can play helpless and expect our political leaders to protect you from financial calamity; they never have. You must become Morally Armed on your own. Don’t be coaxed into believing the system is optimized for the good of all. The Federal Reserve System is not an equitable institution, and it was never intended to be. They believe if they have us strung out on debt, we are no threat to them. Let us prove otherwise.Currency reform is the most important issue facing Americans today. How it plays out will determine whether you and your children eat or not, whether you have a place to live or even a future to look forward to. The major media will ridicule anyone speaking against the Fed, so to validate history’s greatest moral dilemma for yourself, just google “Jackson bank veto.” America must abolish the Federal Reserve System to regain control over the economy and our government. For a concise history of world monetary policy and how it shapes world events, see Moral Armor. Then share this knowledge with your friends. Email this article to everyone in your address book and stay tuned for further developments. We’ll change the system together and bring a brighter dawn to Mankind.