Definition of Security: Small Business Ownership

What your key target audiences think about you can take you down in a New York minute!
Yes, that IS security when nobody can downsize you because you OWN that small business of yours! But preserving that special advantage is a never-ending job. In fact, do you know what needs to be preserved more than anything else?

Well, since they hold the future of your business in their hands, I believe that an outside group of people whose behaviors can effect your business survival more than any other, deserves your rapt attention.

What Id like you to conclude from that is, what your key target audiences think about you can take you down in a New York minute!

0 customers displeased with your product or service dont come back 0 prospects who dont know about you dont buy 0 employees who believe you dont care about them lean on their oars 0 when minority folks believe you discrimminate, you have new problems 0 and if community residents believe your business is a lousy place to work, you have hiring and retention problems.

Even though help is on the way, you cant work on everything at once, so prioritize those key audiences. That is, which external audience is of immediate concern?

The good news is that problems like those above just dont happen when you closely and regularly monitor what those key publics think about you. First, you find ways to interact with them.

Then probe what they think about you and the business. In what behaviors are they engaging? What about misunderstandings? Do you see any problems brewing?

When you take the trouble to stay in touch with those folks whose behaviors affect your business the most, youve taken an important first step towards preserving your business.

Theres a real sequence here. Once you gather those facts from monitoring your key, target audience, it becomes obvious what your problem is and, thus, the public relations goal. For example, correct that misconception about your product; or reinforce a budding perception that you deliver superior service; or correct a suspicion that you dont put women in positions of responsibility.

With your goal in-hand, how are you going to achieve it? You need a strategy which, in public relations, only comes in three flavors: create opinion (perception) where none may exist; change existing opinion, or reinforce it.

So, youve set your public relations goal AND a very doable strategy. Now, what must your message have to say to implement that strategy? It must address the fix you decided upon when you set the goal. It must be clear, specific, persuasive and, above all, believable. As you write it, remain sensitive to what you are trying to do: change somebodys perception which almost always leads to the change in behavior you really want. Does your message meet this challenge?

Many would now find themselves with a great goal, a super strategy and a first class message, and nowhere to go.

But not you. Here, you select the beasts of burden you need to carry that message to the eyes and ears of those members of your key, target audience whom you need to reach and move to action.

And that means communications tactics. There are more available to you than we have time or space to list. Among them: community briefings, seminars, special events, news releases, speeches, brochures and personal contacts.

Is your work completed? Nope, because how will you track your progress? The answer is, Round 2 of the monitoring job. Interact with members of your prime outside audience all over again, carefully evaluating what you hear. If the goal was correct a misconception, are you beginning to notice signs of that correction? Do those you talk to show, however little, a better understanding of the facts of the matter as represented in your message?

Whats the bottom line? Behaviors, of course.

When your messages and communications tactics combine to alter a questionable perception held by members of your key, target audience, certain behaviors will soon follow. Among them, favorable mentions in the media and in individual speeches and lectures; increased patronage for your business; corrected perceptions by influential members of that important group of people, and many other similar signs that your message and your communications tactics have, indeed, drawn blood.

Happily, what that adds up to is a successful public relations effort.

end

Bob Kelly counsels, writes and speaks about the fundamental premise of public relations. He has been DPR, Pepsi-Cola Co.; AGM-PR, Texaco Inc.; VP-PR, Olin Corp.; VP-PR, Newport News Shipbuilding & Drydock Co.; director of communications, U.S. Department of the Interior, and deputy assistant press secretary, The White House. mailto:bobkelly@TNI.net Visit: http://www.prcommentary.com

About the Author

Bob Kelly counsels, writes and speaks about the fundamental premise of public relations. He has been DPR, Pepsi-Cola Co.; AGM-PR, Texaco Inc.; VP-PR, Olin Corp.; VP-PR, Newport News Shipbuilding & Drydock Co.; director of communications, U.S. Department of the Interior, and deputy assistant press secretary, The White House. mailto:bobkelly@TNI.net Visit: http://www.prcommentary.com

Real Estate Investing: They Have to Know You to Trust You

They say that if you want to market yourself properly, you need to be in the consumer’s face ALL THE TIME. For people to choose you and your product, they need to know that you are a legitimate presence, and not a fly by night scheme. If they see your or something that reminds them of you all the time, you will be the natural choice to turn to when they need what you are selling. This applies to all aspects of business and it is the same applies for homes. When you want to be known, make sure your are known.

Put your face or your business name on every conceivable surface that your potential customer will see. In real estate investing that may be the local store, the advertisements at the high school football game, or local radio station ads they can listen to as they commute. And do not just get caught up in the standard ad campaigns like TV or radio, use your imagination and try different things all the time. Hand out pens, memo pads, refrigerator magnets. The idea is that whenever they go to use something that they use every day, they will see you or your name.

In the field of real estate investing, image is important. No one want to entrust their precious home to someone they do not know and feel they cannot trust. Once they see a person’s picture and name in the community that they live in, a trust is built and they will feel confident in doing business with you. They will not expect bounced checks or bad credit from someone who is so prominent in the community, and they feel that you are the kind of businessperson who will always do the right thing. This is achieved by getting your name and face out there in front of the consumer as much as you can.

Whatever it takes: magnets, logos on pens, papers and shopping bags, wear your name and logo on your shirt, let everyone know who you are. In this highly competitive field of real estate investing, getting your name out there is one of the most important steps you can take. Once you get this “good” notoriety, you will be surprised at how much money you can make.

Definition of Security: Small Business Ownership

What your key target audiences think about you can take you down in a New York minute!
Yes, that IS security when nobody can downsize you because you OWN that small business of yours! But preserving that special advantage is a never-ending job. In fact, do you know what needs to be preserved more than anything else?

Well, since they hold the future of your business in their hands, I believe that an outside group of people whose behaviors can effect your business survival more than any other, deserves your rapt attention.

What Id like you to conclude from that is, what your key target audiences think about you can take you down in a New York minute!

0 customers displeased with your product or service dont come back 0 prospects who dont know about you dont buy 0 employees who believe you dont care about them lean on their oars 0 when minority folks believe you discrimminate, you have new problems 0 and if community residents believe your business is a lousy place to work, you have hiring and retention problems.

Even though help is on the way, you cant work on everything at once, so prioritize those key audiences. That is, which external audience is of immediate concern?

The good news is that problems like those above just dont happen when you closely and regularly monitor what those key publics think about you. First, you find ways to interact with them.

Then probe what they think about you and the business. In what behaviors are they engaging? What about misunderstandings? Do you see any problems brewing?

When you take the trouble to stay in touch with those folks whose behaviors affect your business the most, youve taken an important first step towards preserving your business.

Theres a real sequence here. Once you gather those facts from monitoring your key, target audience, it becomes obvious what your problem is and, thus, the public relations goal. For example, correct that misconception about your product; or reinforce a budding perception that you deliver superior service; or correct a suspicion that you dont put women in positions of responsibility.

With your goal in-hand, how are you going to achieve it? You need a strategy which, in public relations, only comes in three flavors: create opinion (perception) where none may exist; change existing opinion, or reinforce it.

So, youve set your public relations goal AND a very doable strategy. Now, what must your message have to say to implement that strategy? It must address the fix you decided upon when you set the goal. It must be clear, specific, persuasive and, above all, believable. As you write it, remain sensitive to what you are trying to do: change somebodys perception which almost always leads to the change in behavior you really want. Does your message meet this challenge?

Many would now find themselves with a great goal, a super strategy and a first class message, and nowhere to go.

But not you. Here, you select the beasts of burden you need to carry that message to the eyes and ears of those members of your key, target audience whom you need to reach and move to action.

And that means communications tactics. There are more available to you than we have time or space to list. Among them: community briefings, seminars, special events, news releases, speeches, brochures and personal contacts.

Is your work completed? Nope, because how will you track your progress? The answer is, Round 2 of the monitoring job. Interact with members of your prime outside audience all over again, carefully evaluating what you hear. If the goal was correct a misconception, are you beginning to notice signs of that correction? Do those you talk to show, however little, a better understanding of the facts of the matter as represented in your message?

Whats the bottom line? Behaviors, of course.

When your messages and communications tactics combine to alter a questionable perception held by members of your key, target audience, certain behaviors will soon follow. Among them, favorable mentions in the media and in individual speeches and lectures; increased patronage for your business; corrected perceptions by influential members of that important group of people, and many other similar signs that your message and your communications tactics have, indeed, drawn blood.

Happily, what that adds up to is a successful public relations effort.

end

Bob Kelly counsels, writes and speaks about the fundamental premise of public relations. He has been DPR, Pepsi-Cola Co.; AGM-PR, Texaco Inc.; VP-PR, Olin Corp.; VP-PR, Newport News Shipbuilding & Drydock Co.; director of communications, U.S. Department of the Interior, and deputy assistant press secretary, The White House. mailto:bobkelly@TNI.net Visit: http://www.prcommentary.com

About the Author

Bob Kelly counsels, writes and speaks about the fundamental premise of public relations. He has been DPR, Pepsi-Cola Co.; AGM-PR, Texaco Inc.; VP-PR, Olin Corp.; VP-PR, Newport News Shipbuilding & Drydock Co.; director of communications, U.S. Department of the Interior, and deputy assistant press secretary, The White House. mailto:bobkelly@TNI.net Visit: http://www.prcommentary.com

Real Estate Investing Tips On The 4 Ways You Can Profit- Do You Know Your Real Estate Mathematics?

Profit is the main reason we invest in real estate so it’s important to understand how and where your profits come from. We’ll call this the mathematics of real estate profits. The four basic ways you will profit from real estate are:

1. Appreciation
2. Principal Reduction
3. Tax Deductions
4. Cash Flow

Appreciation - Calculating your return on investment (ROI):

We can calculate the appreciation in the value of the property over time in dollars or as a percentage of the cost. Let’s say you bought a house for $100,000 a couple years ago with a down payment of $10,000 and now it’s worth $120,000. The appreciation is $20,000, or $10,000 per year.

Since $20,000 is our appreciation amount over two years we divide it by two to get an average annual appreciation of 10% based on the original property cost. The ROI is the percentage of profit you have earned based on the down payment you made. We divide the appreciation amount of $20,000 by the down payment amount of $10,000, showing that you return on your investment from appreciation is 200%.

Principal Reduction:

Principal reduction is the amount of your mortgage that has been paid off. A small part of your mortgage payment goes toward paying the principle and the rest goes toward interest, insurance and taxes. The mortgage company keeps the interest but you get a tax deduction and the principle reduction increases your equity in the property. Our loan was $90,000 after a $10,000 down payment and $2,000 has gone towards the principle in the first two years leaving you with a $98,000 debt.

To figure out your equity return simply divide the equity by down payment. Your total equity is $22,000, your down payment is $10,000 so the return on your equity is 220% after 2 years. Pretty good ROI in this example.

Tax Deductions:

Real estate investing has some of the best tax shelters compared to anything else. If your gross income is under $100,000 and you’re in the 33% tax bracket the government gives you back 33 cent for every dollar of tax deductions you can create. So, for every $1,000 in tax deductions you’ll get back $330 in cash or in reduced taxes. Your appreciation and equity will be long term but your tax deductions create cash flow in the current year.

Cash Flow:

Dealing with rental property investments means dealing with cash flow; neutral, negative, or positive. We all hope to have the positive kind but that’s not always possible. Even so, it can still make sense to invest in a property that has neutral or slightly negative cash flow because of the tax deductions and long term equity you can eventually cash in on. A common mistake from investors with good intentions is to get in hot water with unexpected maintenance costs, vacant properties, and non-collected rents. Not having a contingency plan in place for covering negative cash flow can leave one scrambling for co-investors or worse; foreclosure. Some negative cash flow can be offset by tax deductions. Keeping expenses down together with rent increases can eliminate negative cash flow and this should be an obvious long term goal.

Fundamental Principles of Real Estate Investing

Real Estate investing has always been viewed as a conservative investment opportunity. Real property is thought to not only hold value, but is expected to increase. This is generally true, but like any investment, there is risk involved. There are some fundamental principles of investing in Real Estate that will tend to reduce this risk. These principles hold true no matter where the actual location of the property. They apply to investing in Utah real estate as well as they do for any other area.

The first principle is education. Actually, this applies to any investment. Real estate is often about relationships. You need to learn about people. In many ways, they are going to be the key to your success or failure. You also need to learn all you can about markets and marketing techniques. Investors will have to evaluate properties and must know about home repairs. There is a lot of information that can impact your success or failure, and the more prepared you are, the better chance you will have.

Another principle is to understand cash flow. Real estate investments are not very liquid. Properties can rarely be sold quickly. The investor must be prepared for short term losses due to the need for costly repairs or the sudden departure of tenants. There are many relevant numbers involved in real estate. If you understand these numbers, you will be prepared to deal with cash flow fluctuations. It is a good idea to start small and look for every way possible to reduce risk. Although it is impossible to eliminate risk completely, when you are working to eliminate as much as possible, you are going in the right direction.

It is important to research your property. You need to find property that is going to be in demand. Provo real estate might always seem to be in demand, but every property and location has things that make it more or less desirable than the average. In addition to inspecting potential property, make an inspection of the neighborhood. It is better to be aware of conditions that might lower property value, or make rentals problematic, before you are the owner of the property.

The most important principle to remember in real estate investing is this: Your home may be where your heart is, and emotion and sentimental attachment may matter in selecting your personal home, but when you are investing, return on investment is all that matters.

Small Business Ownership and Whole Business Accommodations

Self-employment is never easy, and there are increased challenges when the business owner has disabilities. Business owners with disabilities need to find ways to operate their businesses successful in a competitive environment.
Small Business Ownership and Whole Business Accommodations; By Alice Weiss Doyel; BOLD Consulting Group, LLC

This article contains excerpts from No More Job Interviews! Self-Employment Strategies for People with Disabilities, by Alice Weiss Doyel (2000). Used with permission of the publisher, Training Resource Network, Inc.

Even when the economy was strong, three-fourths of the people with moderate to severe disabilities remained unemployed. Not surprisingly, many people with disabilities see small business ownership as their chance for economic self-sufficiency.

Self-employment is never easy, and there are increased challenges when the business owner has disabilities. Business owners with disabilities need to find ways to operate their businesses successful in a competitive environment. A few years ago I saw my own disabilities become more severe. I knew that I needed to find ways to run my company more effectively. My years of experience as a small business consultant helped me develop the concept of Whole Business Accommodations. I realized that as business owners with disabilities, we must create workplace accommodations which take into consideration the success of our entire business.

Whole Business Accommodations permeate the full scope of the business.

* Operations planning should include accommodations for the owner’s disabilities. These accommodations are not just for the physical attributes of the office, e.g., access, furniture, equipment. These accommodations should take into consideration the people who will be part of the business, or closely associated with it. Whether they are business partners, associates, employees, vendors, family members or support providers, these people are an integral part of making the business work. Their roles in supporting the business owner with disabilities must be integrated into their business functions through the business planning process.

* Marketing capabilities are often affected by the owners disabilities. Determining potentially effective marketing approaches during business planning will allow the company to test and determine the best ways to reach and sell to customers. Some people with disabilities believe that an Internet website is the answer to their marketing challenges. However, the Internet should almost always be used as a secondary marketing approach. There must be direct marketing either by the owner with disabilities, by other company owners or employees, or by sales representatives in order to create a successful marketing effort. * Financial planning is a challenge for business owners with disabilities. Many people with disabilities have few assets of value to help secure a business loan. They may have lived for years in poverty, unable to establish a sound credit record. They may have poor credit due to an unexpected health emergency or accident that created large medical expenses at the same time that they were no longer able to work. Micro-loan programs are a resource for small business owners with disabilities who have viable business plans for start up or existing businesses. These programs will take into consideration disability-related financial limitations and credit problems. Some Whole Business Accommodations are free while others may be quite expensive. All accommodations must meet the same financial test as any other business expense: 1. Can the Whole Business Accommodation be paid for? 2. Is this an effective use of limited company funds? The following are specific examples of Whole Business Accommodations which are consistent with best business practices:

* Creating an accessible office. Many accessibility methods are free or inexpensive, e.g., arranging office furniture and equipment for the greatest ease of use, telephones with easy to read displays and/or large keys, speakerphones or head sets, open storage shelving for easy access, keyboard and mouse that fits the owners physical needs, free Microsoft accessibility utilities, and tables and desks with comfortable wheelchair access. Good office design saves time and energy that the business owner can put into the business. * Including alternative means of transportation in the business plan, e.g., hiring a part-time driver, finding volunteer drivers such as family members or friends, determining effective methods for using public transportation and/or taxi services, and teleconferencing instead of in-person meetings. Business owners with disabilities can host meetings in their own offices, minimizing the need for transportation.

* Using company business policies that protect business owners with disabilities from working in a manner adverse to their health. Developing these policies requires the owner to evaluate and determine the most effective means of running the business. This analysis leads to more effective and profitable management of the entire company.

* Creating a positive, supportive work culture for the business. This includes a culture that values everyones abilities and supports the concept that disabilities do not decrease a persons humanity or value . . . that for many people, the challenges from their disabilities are a means for personal growth. This work culture will be a positive environment for all employees who share these values.

* Hiring a full-time or part-time employee who does work that is difficult or not possible for the business owner. This is a common practice in all businesses; however, here the focus is on assisting in the area of the business owners disabilities. The same employee can serve other functions for the business, bringing more capabilities to the company.

* Partners are often used to create a company where the owners have complementary business or technical skills. Business owners with disabilities can find partners with the skills, time, or energy to compensate for their disability needs.

* Creating alliances with other companies is often an excellent strategy for business owners with disabilities. It allows them to provide a variety of services or products through their alliance partners, while limiting the size of their business and the number of employees they manage. In summary, business owners with disabilities report a wide range of positive experiences when they use Whole Business Accommodations to run their companies more effectively. Whole Business Accommodations are powerful tools for success in business and for success in living a complete and satisfying life.

About the Author

Alice Doyel is the founder of BOLD Consulting Group: where she heads the consulting practice specializing in operations management for small businesses. Also, she is a national speaker, consultant, and advocate on self-employment for people with disabilities. Alice wrote the book, No More Job Interviews! Self-Employment Strategies for People with Disabilities.

A Beginner’s Guide To Real Estate Investing Strategies

If you’re thinking about investing in real estate to make money, you need to first determine your financial goals. Do you need to make money quickly, invest for your children’s college fund, or build wealth for your retirement? Once you determine your financial goals, you need to decide which type of investing strategy works for you.

Make Money in Real Estate - Fast Cash Strategy

If you’re low on cash, get started by finding a bargain house and selling the contract to another real estate investor. Join a real estate investing club to find investors willing to pay you for finding good deals.

Make Money in Real Estate - Income Property Strategy

If you want to increase your monthly income, look for income property that returns a positive net income from month to month. Start with single family house. Look for a bargain below market value. Fix up the house to generate top rental income. Find houses that will rent for more than your mortgage payment. You may need to go out from your home area to a location that supports this type of return on your money. You can’t pay $300,000 for a home with a mortgage of $1,500 that only rents for $1,000. You might start with a home for around $300,000 that rents for $1,750. You will need good credit to get a loan with good interest rates. In a few years, your rental income should go up. Many real estate investors enjoy thousands of dollars each month generated by income property.

However, some investors don’t like dealing with tenants and prefer to make money in other real estate ventures.

Make Money in Real Estate - Investment Property Strategy

If you want to make money focusing on profits, investment property offers a different strategy. Instead of worrying about rental income, look for property that you can transform and sell or property that will appreciate significantly over time. Besides fixing a house up, you can transform a property by changing it. For instance, some investors buy apartment buildings and turn them into condominiums. Many investors speculate in land and make money by holding the land until new development in the area increases the value.

Examine your financial situation along with your long term goals. You can get started by flipping properties, move onto income properties, and then make larger profits with investment properties. You might end up using a combination of all three strategies to make money investing in real estate.

Copyright ? Jeanette J. Fisher

About the Author: Jeanette Fisher teaches how to find, finance, fix and sell. Free ebooks “Credit Tips” http://worryfreecredit.com “Flipping Houses” at http://doghousetodollhousefordollars.com