Selling for Maximum Value

Author: Eran Salu, JD, MBA, CPA

Put simply, ""valuation"" is what a buyer is willing to pay for your business. In practice, however, valuation is anything but simple and is often as much art as science. Here is a little bit of ""Valuation 101"":

Valuation is not formulaic

* The initial step to selling a business involves a thorough and accurate business assessment which includes a valuation analysis.

* Common methods for valuing a business include public market comparable analysis, identifying precedent M&A transactions, discounted cash flow analysis, book or asset based valuation approaches and applying multiples to revenue, EBITDA or net income.

* Many formulas and ""rules of thumb"" have been developed to arrive at a ""ballpark"" estimation of value, but it takes seasoned expertise to look beyond mere formulas and determine a real measure of value.

Textbook formulas and ""rules of thumb"" alone are not adequate methods for valuing a business

Don't leave money on the table by neglecting the intangible value of a business

* At a minimum, a buyer ought to be willing to pay the baseline intrinsic value of a business.

* In many cases, however, sellers forego the opportunity to obtain appropriate compensation for the intangible value of the business. This is caused by the inability of inexperienced sellers to properly substantiate, support and quantify the intangible value of their business.

* Employing proper valuation methodologies and techniques can help sellers maximize value. It is also important to recast historical financial statements in order to show the effect the purchase of the business will have on the buyer's financial results.

Premium buyers analyze the future potential of an acquisition to determine value.

The intangible value of a business is worth a significant amount to the premium buyer.

How can the value of a business be increased?

* Prepare concise, detailed and comprehensive information regarding the business.

* Apply sound market analysis and research to support financial projections.

* Define the intangible and future benefits of the business and the potential synergies of a pro forma combination.

* Identify and approach the right buyers.

* Conduct a structured, competitive sales process.

* Structure and negotiate a deal on the seller's terms.

By using sound market research, approaching the right buyers, running a competitive process and effectively structuring the deal, a business owner can maximize value when selling the company.

http://www.TotalBusiness.com is a Website that provides business owners with the information they need in order to successfully start, manage, grow, and sell their businesses.

The site features over 3,000 articles and 60 guides on business topics such as starting a business, financing a business, sales and marketing, building a website, setting up an office, hiring employees, and selling a business. The site also contains articles on legal and accounting issues affecting businesses and allows business owners and entrepreneurs to get free expert advice from local lawyers or accountants. The site contains over 1,000 business forms and agreements that are helpful to business owners and provides a business directory with over 1,700 merchants who provide services specifically for small businesses.

About the author: Eran Salu, JD,MBA,CPA is the Founder and CEO of TotalBusiness.com

Working with Employees

Author: Eran Salu, JD, MBA, CPA

Dealing with employees (contracted or yours) is always challenging and will tax your best management and leadership skills. The following checklist, based on a good deal of experience, are items to consider that will help keep you out of trouble when dealing with your employees:

CHECKLIST: WORKING WITH EMPLOYEES

* Be willing to pay for the best. Remember, you get exactly what you pay for ... no more and no less.

* Everyone has their own way of doing things. We all seem to forget this and insist it be done ""our way."" A better approach is to give instructions as to what is needed and allow the individual to provide the method.

* Remember to always criticize in private and to praise in public.

* Remember that EVERYONE needs to feel appreciated. Talk to your employees and make certain they know they are providing a valuable service.

* Stay visible. Make certain all your employees see you at least once a day. Your employees need to know you're involved and interested.

* Keep your promises. If you say you're going to do something, do it! There are no good excuses in the eyes of your employees.

* Ask your employees for suggestions on a regular basis. Do this personally ... not just with a ""suggestion box.""

* Allow your employees to fail! It is well documented that successes are generally preceded by one or more failures. The employee who is afraid to fail will be less likely to be innovative. It is up to you to see that none of these failures is fatal to the business.

* Every employee must know exactly what their responsibilities are and what authority they have for carrying out these responsibilities. This usually is accomplished by very precisely written job descriptions.

* Manage by objectives. Each of your employees should be assigned (by mutual agreement) specific goals to be obtained within a certain period of time. These goals must be measurable and you will periodically review them so that corrective action, if needed, may be taken to get back on track. Managing by objectives stresses real results as opposed to a job description that only lists the individual's responsibilities.

* Constantly motivate your employees to do a good job. Talk to them about their job and its importance to the business. Maintain an ""employee-of-the-month"" program with an appropriate certificate and a traveling trophy. Make the monthly presentation with fanfare.

* Implement an effective training program to encourage promotion. Any employee who thinks they are in a dead-end job will not perform up to expectations.

* Remember the ""Peter Principle""... to paraphrase: Everyone rises to their level of incompetence. See that this does not happen in your business.

http://www.TotalBusiness.com is a Website that provides business owners with the information they need in order to successfully start, manage, grow, and sell their businesses.

The site features over 3,000 articles and 60 guides on business topics such as starting a business, financing a business, sales and marketing, building a website, setting up an office, hiring employees, and selling a business. The site also contains articles on legal and accounting issues affecting businesses and allows business owners and entrepreneurs to get free expert advice from local lawyers or accountants. The site contains over 1,000 business forms and agreements that are helpful to business owners and provides a business directory with over 1,700 merchants who provide services specifically for small businesses.

About the author: Eran Salu, JD,MBA,CPA is the Founder and CEO of TotalBusiness.com

Sources for Debt Financing

Author: Eran Salu, JD, MBA, CPA

Debt Financing simply means you get a loan from someone or somewhere and go into debt! You are obligated to repay the money. We provide some popular sources for debt financing to consider.

SOURCES FOR DEBT FINANCING

1. YOURSELF! (Savings) You are your own best ""lender"" if you have the savings. This approach can be quick and easy. CAUTION: Ensure you have adequate savings for both the business and other life contingencies.

2. FRIENDS and RELATIVES. If they believe in you and your idea, friends and relatives are sometimes willing to fund you. Choose this route with care and ensure you execute a formal loan document stating loan terms (interest, terms of repayment).

CAUTION: Many friends have been lost and many relatives alienated because of a small business failure.

3. BANKS and CREDIT UNIONS. Many banks and credit unions (check with your own first and with you local chamber of commerce for alternate possibilities) will loan money for starting a small business. This approach will require that you present a formal plan to the bank showing justification for the amount you are borrowing.

4. THE SMALL BUSINESS ADMINISTRATION (SBA). Check out their website (http://www.sba.gov). Contrary to what many believe the SBA does NOT generally loan money directly but rather guarantees a loan (normally up to 90%). This can make it a lot easier to obtain a bank loan since the bank's risk is lowered considerably. The exception is that the SBA does provide direct loans to certain groups including Vietnam-era and disabled veterans and handicapped individuals. In general, the SBA will not offer any assistance until you have been turned down for a loan by a commercial bank.

Most loans guaranteed through the SBA are between $25,000 and $750,000. However, there is a ""microloan"" program for amounts from a few hundred dollars up to $25,000.

5. VENDOR FINANCING. If your business is one that relies heavily on certain vendors, it may be possible to obtain financing through the vendor. After all, they want you to use their product and therefore have an interest in helping you be successful.

6. STATE. Some states have small business financing authorities that issue tax-exempt development bonds that can be used to finance land, buildings and equipment for manufacturing businesses. Check with your local government office for details.

7. HOME EQUITY LOAN. Interest rates for this kind of loan are generally quite low and the interest is fully deductible for the first $100,000 borrowed.

CAUTION: You are placing your home on the line!

8. LIFE INSURANCE. Some types of life insurance policies (whole life and universal) have cash value which can be borrowed at very low interest rates. You are not obligated to pay this money back but if you don't, your policy payout is reduced by the amount borrowed.

9. RETIREMENT PLANS. Some retirement plans (401K for example) allow you to borrow against vested benefits. Generally, up to 50% may be borrowed as long as this is less than $50,000. CAUTION: If you quit your employment, the loan must be repaid immediately. If you don't the amount borrowed is treated as an early distribution and is taxable.

10. GRANTS. Many foundations provide funding in the form of grants. Check ""The Foundation Directory"" at your local library or visit their website at http://fdncenter.org to find out what foundations may have an interest in your specific business idea. The Foundation Center may be reached at (212) 620-4230.

11. CREDIT CARDS. These should be used with care because of the excessively high rates of interest usually charged.

CAUTION. Remember that many of these loan ideas will require you to sign a personal guarantee. This means that regardless of what happens to your business, you are personally liable for the repayment of the loan amount. Think carefully before signing.

http://www.TotalBusiness.com is a Website that provides business owners with the information they need in order to successfully start, manage, grow, and sell their businesses.

The site features over 3,000 articles and 60 guides on business topics such as starting a business, financing a business, sales and marketing, building a website, setting up an office, hiring employees, and selling a business. The site also contains articles on legal and accounting issues affecting businesses and allows business owners and entrepreneurs to get free expert advice from local lawyers or accountants. The site contains over 1,000 business forms and agreements that are helpful to business owners and provides a business directory with over 1,700 merchants who provide services specifically for small businesses.

About the author: Eran Salu, JD,MBA,CPA is the Founder and CEO of TotalBusiness.com

Blogs, Podcasting and RSS | eCommerce Impact

Author: Craig Smith | MBA

Blogs, Podcasting, and RSS Overview You probably have heard all these terms an awful lot lately. You wonder about what these technologies do? What value to they provide? If you aren't up to speed on these new applications and how they are impacting online interactions then read this brief further. Will these technologies impact you? To be honest, it's too early to tell - but awareness will drive innovation and maybe your team will develop an idea/application that utilizes these technologies to enhance a portion of your eCommerce business.

Here's the rundown: Blogs What they are: Probably the most well known of the three, blogs allow everyday people to quickly develop a website presence and distribute any type of content that they desire. Look at the metrics relating to blog penetration. * 7% of the 120 million U.S. adults who use the internet say they have created a blog or web-based diary. That represents more than 8 million people. * 27% of internet users say they read blogs. * Only 38% of all internet users know what a blog is. The rest are not sure what the term ""blog"" means. What a ""blog"" actually means is weblog. In basic terminology, it's the ability for someone to update web content directly though the Internet, using a web browser as the publishing mechanism. This makes the creation of content easy and many people are using blogs to establish authority sites within unique business and hobby/interest niches. Where blogs impact online retail most is within these targeted online communities. Certain blog authors develop a large base of specific visitors, hence the site becomes a potential target market for viral marketing efforts. Many web entrepreneurs us this functionality to develop affiliate hubs within niche markets, and use search popularity to beat out larger retailers within corresponding natural search results.

By integrating your brand image within the site experience at that SPECIFIC blog, you as an online marketer are able to segment your marketing PRIOR to converting someone as a customer. It is a place to communicate with current and potential customers about current offerings/promos while boosting the credibility of the brand. Should you care: If you have a very unique value proposition, or sell to a very specific or high-value customer segment, blogs can be a great way to increase overall brand awareness. You can better connect with your customers and provide detail into the current happening within the business (ex. Current sales on XBOX 360). Potentially, one person within your organization should own the monitoring of blogs within your vertical and look to post new content to meet the needs within the unique blog community.

Podcasting What it is: Pocasting should be just called mobile video broadcasting. However, Apple's marketing/development team did a great job with branding their device to a type of emerging media - hence the term podcasting! Similar to traditional radio and television, mobile video broadcasting delivers branded content in either a paid/free environment, on someone's mobile media player (Apple only does video currently, but that will change shortly). Retailers can potentially use this communication channel to deliver targeted content to their customer base, while integrating advertising within the video content.

Should you care: Not really. Until video podcasting penetration increases, it's still a limited channel for advertising. The best application available right now would be an online audio content segment that is digitally delivered to an opt-in list. As technology advances, you can potentially do this from your current opt-in page on your website and not from Apple's iTunes platform.

RSS RSS stands for Real Simple Syndication and is a method for electronic content distribution. RSS is transmitted via the internet, but what makes it unique is that no downloading efforts are needed by the end receiver of the content. The content streams instateneously within a webpage.

Advanced consumers have RSS news readers on their computers, either integrated into an email client, or utilize an aggregated web application such as News Gator. This essentially saves them time in aggregating all new and updated content that meets their interests. Already gaining steam in the travel industry and within comparison shopping engines, RSS seems to be a valuable way to push news and time sensitive offers to customers. Travel companies are able to provide a streaming supply of last minute airfare offers to their customer segments, without that customer having to open an email or visit a webpage.

Should you care: It completely depends on the nature of your business. Do you consistently offer new prices? Do you obtain new products to your assortment consistently? Do you have a customer base that is extremely loyal that you want to reach out to with messaging? If so, RSS may another channel to help build your brand. Call us today to learn more about these technologies and the potential impact they can have in reaching your customers with targeted messaging and fresh content.

About the author: http://www.trinityinsight.com

Paperless Office for CPA for under $1,000

Author: Amir Morani CPA CMA CFM MBA

Considering what CPAs are being asked to pay for pre-packaged paperless solutions for their offices, the title of this article is quite radical. Since the title and what is discussed here is based on actual experience of the author, it is alright for it to get some media attention.

Most CPA practices these days have a small office network in place to handle the operations of the business. Rather, it is almost impractical for them to be operating without some kind of a computer network in their offices. Most CPAs and accountants also efile their clients' tax returns and so they need a reliable internet connection in their office. Unbeknownst to them, CPAs have over 90% of what they need to go paperless, at least on the hardware and the software side.

CPAs have almost all the hardware and software needed, in their office, to convert their practice into a paperless practice. Almost means close to 90%. However, they need to build up another asset to be able to go paperless in a very short time. The asset they need has to be built in house and cannot be purchased. They have to first recognize the extreme importance of the need to go paperless and then develop a strong determination to do so within a short time and limited budget.

Recognition of the importance of going paperless is the major hurdle facing the accounting industry at this time. Many CPAs are still waiting on the sidelines to watch how this trend evolves. Generally, that is not a very bad strategy. Not all trends become permanent in any industry and so a lot of times it is good to wait a little before getting on the bandwagon. However, paperless movement has been building momentum over a long period of time. In fact, it probably has been in discussions for over a decade. There have been some early adopters who benefited from it. It has not become a general trend yet in accounting industry, other professional services industry and business in general. But there are signs that it is picking up speed.

It is during the last few years that the capacity of the technology, that is being used in accounting offices, like other businesses, has increased tremendously at very affordable prices. Until a few years ago, going paperless in an accounting office was a major undertaking as it would require upgrading of hardware and software in a significant way. Now, there is no need to upgrade. If the hardware was purchased during the last 2-3 years, it probably has adequate capacity and speed to handle a paperless office without much upgrading.

In that case, a typical small CPA firm just needs to add a couple of scanners at $300 each and a PDF converter software that can be purchased for about a $100 these days. A strong commitment to go paperless and a determination to get it done within a given time frame is short in supply and is not available with any hardware or software vendor.

It is a very strange phenomenon. The technology is available and the need is there and yet most small CPA practices are not paperless, and one would hope that they are at least thinking about going paperless sometime soon. Why shouldn't they go paperless if they could do it within a $1,000 of additional hardware and software?

About the author: Amir Morani launched his own CPA practice in Dallas over 8 years ago and managed it succesffully as a paperless practice for the last three years. His blog is at http://paperlessofficeforcpa.blogspot.com

Reverse Logistics

Author: Craig Smith | MBA

Here are some key metrics to support the return optimization business case:

* 85% of customers say they will stop buying from a retailer if the returns process is a hassle (Harris Interactive)

* 95% of customers say that they will likely shop with a catalog or internet retailer again if the returns process is convenient (Harris Interactive)

* 40% of shoppers don't buy online due to returns difficulty (Jupiter Research)

* Customers who have their complaint resolved quickly have a re-purchase intention rate of 82% (McKinsey)

The increased importance of online returns

Returns are an inevitable fact of online retail. As the depth of online product categories became apparent in the last three years, the importance of online return policies became painfully obvious. Provide a bad returns experience and you undoubtedly reduce the chance of a customer coming back for a repeat purchase.

For example, sectors such as high-end apparel, consumer returns reach levels as high as 20% and an efficient returns process is critical to overall success. Quicker inventory cycles and fluctuating retail prices make it important to not only process the return effectively for the consumer, but also get it in the warehouse quickly for re-sale.

Reverse Logistics solve fundamental business problems

Retailers are now being proactive and turning these operational challenges into competitive advantages and incremental revenue streams. By investing in solutions that integrate key platform components and data, online retailers are able to offer self-service return capabilities to consumers.

A typical reverse logistics solution allows the consumer to more easily initiate the return by incorporating a pre-paid postage label within the box. This label can be integrated within the packing slip or it can be a separate stand-alone piece. Because the label generation is initiated by the warehouse management system, the label is able to capture key customer information for tracking purposes, both for CSR's and the end consumer.

The label provides one primary source of value to the customer - convenience. No post office trip is needed and retailers improve overall customer satisfaction while facilitating the product return to the distribution center.

When consumers initiate returns through this process, retailers typically charge them a ""handling fee"". This fee is typically 20% higher than the postage charge that was provided by the reverse logistics service provider. This dollar spread, between what is charged to the customer and what has been billed to the retailer for postage, generates direct and measurable profits for retailers.

Improving communication with online consumers

A reverse logistics solution can drastically improve customer communication during the return process. Newgistics is a great example of a reverse logistics provider that has customer-centric communication processes embedded in their overall solution.

After a return package is picked up from a consumer location, it is sent to a Newgistics hub for sorting and re-locating. During this process, there are strategic scanning mechanisms used to facilitate triggered and branded communication emails.

A consumer receives ""retailer branded"" email notifications when certain milestones are achieved in the return process, such as:

* Return receipt o (Ex. We have received your return and you should get a credit in the following days).

* Return Completion o (Ex. Your return has been processed)

Quick receipt of these emails enhances the confidence level of customers, reduces inbound customer service calls, and provides another value-added feature to boost the eCommerce relationship.

Your company is taking a great risk if it does not provide a great post-purchase site experience. Feel free to contact Trinity to learn more about this type of initiative and how we can help in discovery, scope, and implementation efforts.

About the author: http://www.trinityinsight.com

Paperless Office - With Multiple Monitors

Author: Amir Morani CPA CMA CFM MBA

Going paperless in professional offices, such as those of CPAs, sometimes could become inconvenient for the professional to work. When a CPA is working on a client's tax return and needs to refer to prior year return, it is easy for her to look at the paper printout while working on this year return on the computer. However, if her filing system is paperless it would be very inconvenient for her, sometimes, to switch between screens to take a look at the prior year return and come back to this year return - back and forth. This could even result in use of more paper than before if the CPA ends up printing a copy of the prior year return to refer during the return preparation and then destroying it. That would result in her printing almost all her clients' prior year returns and then destroying them because she has an electronic copy of the return.

The technology available at this time makes it easy to avoid this problem. Over time it has become more and more easier for CPAs to go paperless as some of these inconveniences have been addressed by the available technology.

A small investment can help CPAs resolve this problem forever and would save them all the inconveniences related to it. Windows XP allows the use of multiple monitors with one computer. This feature is already there in the Windows XP. However, the user would need to buy a special video adapter to attach to the computer to connect multiple monitors. Multiple means up to 10 monitors can be attached to one computer. There are numerous benefits of this convenience in Windows XP.

If all your prior client documents are already in electronic format on your server and you need to refer to several of them at once to work on a particular project, you could open each of those on separate monitors connected to the same computer. This would eliminate the need to switch between different screens each time you need to look at another document.

The set up for connecting additional monitors to your Windows XP computer is not very complicated. If you use a notebook computer you can use the feature of Dualview which is also available in XP. You can just connect an external monitor to your notebook and set up your XP, from Control Panel, for Dualview. The limitation with Dualview is that your notebook or laptop monitor would always be the primary monitor. The other feature, that of multiple monitors, allows you to set any of the monitors as the primary monitor.

Once you set up your computer with multiple monitors, you can eliminate one of the major inconveniences that staff faces in a CPA offices, that of referring to multiple documents from the file and having to switch between screens while working. Even if you have already become comfortable switching between screens on one computer, you may still want to test out this feature of multiple monitors and you may be pleasantly surprised by the ease it brings to your life. The details on setting up multiple monitors are explained on the Microsoft website.

About the author: Amir Morani CPA CMA CFM MBA is the author of 10 Steps to a Paperless CPA Office. His blog is at http://paperlessofficeforcpa.blogspot.com

Paperless CPA Office - Myth or Reality?

Author: Amir Morani CPA CMA CFM MBA

As a new CPA on the block, about eight years ago, I had made it a practice to read as much as possible on practice management along with the regular reading I had to do keep up with the technical matters. I came across articles after articles about how it was possible for CPAs to operate in an almost paperless office. It was, however, quite difficult for me to imagine my own office being a paperless office.

""How could a CPA really operate a practice without papers?"" I would wonder all the time. I thought of these talks about paperless offices as being something of a creation of imagination about how life would be in 2035 when I may not be there.

The technology that I was using in my office was helping me improve the production. It was also helping me learn some of the more advanced possibilities in my system. In my small practice, it was a simple client-server network with a T1 internet connection. It was during one of my overseas trips about four years ago, that I discovered the power of my system to its best. With the T1 connection and a static IP address, I was able to work on my office system from over 10,000 miles away without any problems. This was a wonderful experience and my desire to learn more about the paperless office became extremely strong at this point.

I spent a lot of time, powered by my strong desire, to learn on the ways I could possibly convert my CPA practice into a paperless practice. I had already enjoyed the pleasure of working on my office system from around the world. I thought that if I could only access all the other papers I needed to look at while working on a client's file I would not even need to be in the office at all to work. Besides enjoying the frustrations of continuous interruptions, accessing papers was the only remaining reason for me to be in the office. Sure there were other reasons, but to carry out my work for a client, accessing papers was the only one.

Now that my desire was so strong, I started running into various pre-packaged solutions advertised in the direct mail and magazine advertisements. I checked out a few, called a few 800 numbers and received some promotion materials. All turned out to be beyond my budget. I had learned a lot about the potentials of my simple office network by now, and figured out that I was too poor to afford some of the good pre-packaged solutions available out there for CPAs.

Upon a thorough study of the technology in my office and the hardware available in the market at affordable costs, I came to an unbelievable conclusion. It was unbelievable because based on my calculations the cost of converting to a paperless office was going to be 5 or 10% of what it would cost me to go with a pre-packaged solution. This happened within one year of my trip overseas and it has been three years since then. I could not believe it but I had a gut feeling that I was right in my conclusion. I considered the cost of failing in an attempt to go paperless not too high. I was already managing a paper-full practice and if an attempt to go paperless were to fail - I would remain where I was - a paper-full practice. I spent a considerable amount of time developing the detailed plans on the whole process of going paperless, ordered the scanner that I had studied and found to be most affordable and launched the project. In terms of managing the staff time to work on the conversion process and managing priorities it was quite challenging. The process itself was quite enjoyable and revealing (about the hidden treasures in my filing cabinets) but above all quite enriching.

At the conclusion of my project to go paperless, about 60 days from when it started, I discovered that it was truly possible to manage an almost paperless office. I enjoyed more than two years of paperless office at my practice. The efficiency of the office went up significantly during that period. Clients experienced a different, a much higher level, of efficiency in service.

There were certain things that went right for me in this process. I was able to develop my understanding in this area over the years due to my curiosity and had a good handle over the capacity of my seemingly small office network. I discovered that the current office networks, in many small CPA offices, are like human brains. They are highly powerful and highly underutilized.

A paperless CPA office is no more a thing of the future. The true beneficiaries of this move by CPAs are their clients. CPAs who do not have to spend a lot of their time pushing papers and locating lost documents, would definitely be able to provide high-level services to their clients and benefit them more. All clients deserve a CPA who is at least paperless at the basic level, which is completely possible with a small office computer network and a very small investment.

About the author: Amir Morani (www.amiralimorani.com) had been in public accounting practice for close to eight years before he sold his practice to allow him time to pursue his interest in online business ventures. He is the author of Ten Steps to a Paperless CPA Office at www.OfficeWithoutPapers.com

Canada and eCommerce

Author: Craig Smith | MBA

Canadian eCommerce growth was recently flat but still has an attractive upside...

Recent studies found that Canadian retail e-commerce growth was flat year over year (2003-2004). After further examination however, approximately 60% of the 100 largest non-travel sites succeeded in growing their sales over 20%.

Also interesting is the trending of Canadians from buying at non-Canadian sites to domestic sites (63% domestic, 37% foreign). This ""domestic shift"" clearly benefits the launching of a new eCommerce business in Canada.

The sales opportunity lies with the ""early adopters"", individuals primarily the 18-34 year old age range. This segment is more technologically savvy and more likely to purchase online. In a 2003 to 2004 sampling comparison, this segment's overall e-commerce spending increased 44%. The 35 to 54 age group increased only 5% and 55+ increased 18% (includes online travel).

Overall Internet Adoption rates still trail the U.S. and come in at approximately 52%. However, with the development of new Internet infrastructures and the maturation of Canadian ISP's, this number will likely rise in the next 3-5 years. The following quote from the Canadian government re-enforces this theme.

""To reach our new national goal (relating to e-commerce) Canadians will need to develop strategies that build an intelligent infrastructure to serve as the backbone of the e-economy- by encouraging investment, strengthening research, enhancing commercialization and ensuring that all Canadians have access to this infrastructure and know how to use it."" (September, 2004)

Shifting demographics & lack of online competition equal a substantial opportunity...

Forrester Research reports that 48% of Canadian web shoppers are now female compared to 39% in 2003. 74% of web buyers are married and likely are home shoppers, compared to 68% in 2003.

With the gender gap closing, online home retailers have a great opportunity to target their core customer segment: the 30-40yr old female who owns or maintains a residence.

Within this sector, it is rare for U.S. based retailers to have online Canadian stores. Many brands will ship to Canada, for very high costs (customs duty & shipping) but this likely leads to an unpleasant experience for the Canadian consumer. These high costs, compiled with a lack of domestic Canadian retailers providing an e-commerce offering, are driving the stagnant growth of the online sales channel.

By being a ""first-mover"" in establishing a presence in the online marketplace within Canada, online retailers will facilitate sales from consumers that want to get products shipped from their native homeland after being paid for in Canadian currency.

Similar to the U.S., consumers are exhibiting multi-channel tendencies and embracing the emergence of broadband connectivity...

Canada is the only country in the world in which broadband overtook dial-up access in 2003. Currently 48% of all Canadian consumers have broadband access and they are 67% more likely to have high speed web-access than American consumers.

This impressive penetration may prove to be a strong driver for online circulars and new online merchandising tactics, as product differentiation are established outside of price.

Canadian shoppers are also parallel to U.S. consumers in their multi-channel behavior. 58% of Canadian shoppers have researched a product online and purchased offline, spending an average of $440. An online Canadian strategy must focus on integrating the online and physical store with store locator functionality and other tools to promote cross-channel behavior.

In conclusion, multi-national retailers should closely examine the Canadian eCommerce opportunity. Attractive consumer demographics, an established broadband infrastructure, and a shift in overall shopping tendencies make the Canada a high-growth and un-saturated area for multi-channel retail.

About the author: http://www.trinityinsight.com

eCommerce Fundamentals

Author: Craig Smith | MBA

""Blocking and Tackling"" - A quick take a some eCommerce fundamentals

eCommerce can be VERY complex. To offer a world class customer experience, retailers must incorporate technologies and functionality that exceeds rising customer expectations.

On the flip side however, site fundamentals still play a very large role in converting visitors into customers. Many retailers surprisingly lose sight of these site basics and leave significant sales on the table. This brief examines 4 quick ""fundamentals"" every eCommerce manager cannot afford to lose sight of.

Think Fast

Speed has become less of a problem due to the penetration of broadband, but don't forget that a significant number of people still shop by a dialup connection. When creating a site framework, designers and e-commerce teams should ensure that the site is developed with pages loading in less than 9 seconds (over a dial-up connection).

Our recommended page size is within 60-70k in bytes. At that amount, sites will likely load within the maximum wait time of 9 seconds. Online retailers should avoid flash at all costs within their transactional site. Flash's artistic aspects may help you establish a brand presence - but it will likely lose potential customers before they have even searched within your store.

Image is important

Images are a very important aspect of selling online and are often neglected. All product images should be of the highest resolution possible, be much larger than the product page original, and have

multiple views. Dynamic imaging capabilities can improve the user experience to an even higher level by increasing interactivity (zoom & rotate). At a minimum - retailers should have at least two additional views outside of the product page image to help build emotion.

Be my guest

Shoppers do not like being forced to do anything, especially when they are ready to open their wallets. Forcing a shopper to register on your site before purchasing is a sure way to drive a portion of your traffic to your competitors. Too often, shoppers do not have the time or the inclination to fill out a lengthy form explaining what types of information they desire.

Always offer the ability to checkout as a guest. You will see less customer leakage within the checkout process and can still offer the option to register when the sale is completed.

Make sure it's ""above the fold""

Your homepage is the most important page within your eCommerce store. It sets the initial tone for the shopping experience and offers your best promotions and products to your visitors. Users typically visually scan a web page from top to bottom and then from left to right. All critical content and navigation options should be obvious to the shopper without having to scroll down. If you have your best promotions ""below the fold"" - you can bet that a large percentage of browsers are not scrolling down to see it.

About the author: http://www.trinityinsight.com

How to Generate Permanent Passive Income Streams for Life

Author: Eric Gelb, MBA & CPA

Last week, I traveled to beautiful San Diego for business and spent the day in a hotel restaurant that overlooked the harbor. With laptop in tow and cell phone in hand, I worked, without hassle.

As the sun set, I took a stroll and it occurred to me that technology and the crazy pace of our world has caused us to work 24/7. Life's way too short for that.

But, Passive Income holds the answer.

Passive Income means that you earn money while you enjoy the beach, golf or the mall.

Pursue these 5 Ways to Generate Passive Income:

1. Real Estate Investing Acquire a building; then you can collect rent. Other than maintenance and managing tenants (and you can outsource these activities if you like), rent is pure passive income.

2. Sales - Good Old Fashion Selling As a longtime sales professional, I like this flavor of passive income. Depending on the commission plan, you can establish an account, close sales now, and earn commissions for years to come. The key to earning passive income is the ""tail."" In other words, once you close an account, how long will the House pay you commissions?

3. Intellectual Property (copyrights and patents) As a copywriter, I continuously create written materials. Once we publish a work we can earn profits for years. Consider my bestselling booklet '157 Ways to Cut Your Grocery Bill.' We launched the original edition in 2002, which generated an instant increase in sales and still rolls in today. Once you do the work up front, you can earn money for years.

4. Ezines and Electronic Newsletters My company newsletter, Publishing Gold, includes some kind of promotion in almost every issue. Sometimes we include the promotion in the Editor's Note, and other times we include a Link at the bottom of an article. We also post our most popular articles on our Website and include the link to the sales page. These efforts generate effortless passive income.

Even if you are not a writer, you can find freelance writers at reasonable rates; in fact that is one of the services our company offers. Writers can create content for you; or they can ghostwrite, which means you become the author. You can search for ""Freelance Writers"" and ""Ghostwriters"" online.

You can find articles (content) for reprint by doing a search for ""Article Directories,"" ""Ezine Content,"" ""Ezine Articles"" and ""Article Libraries."" Reprint content that will interest your audience. Be sure to get permission to reprint first, and print the author's byline exactly as required (you'll usually find the reprint requirements on the Websites).

5. Affiliate Programs on the Internet Today, you can create your own passive income stream by creating a Website and offering products for sale. You don't even have to create product; you can license or promote other manufacturers' or distributors' products. Become an ""Affiliate"" and then promote other companies' products on your Site. When your members, subscribers or associates make a purchase, the company pays you a commission. With ecommerce, it's easy and there's no labor involved. All the work is completely automated online through a shopping cart or affiliate program. And that's a beautiful thing.

Are you pressed for time? Short on funds and long on expenses? Looking to retire early with confidence?

Then Passive Income Holds the Answers for YOU.

-30-

Eric Gelb, MBA & CPA, is a marketing and copywriting expert and editor of http://www.PublishingGold.com . You can contact Eric directly at PublishingGold@yahoo.com . To learn more about How to Generate Passive Income, visit: http://www.profcs.com /app/?af=338759

About the author: Above

She Did Not Take This Secret To The Grave

Author: Joe Trevison MBA CPA

THE SECRET SHE DID NOT TAKE TO THE GRAVE

My aunt Theresa Paparelli died this Thanksgiving Day 2005. She had a business secret that she used for her life and passed on to her son and me. Her husband, my mother's brother Sam was a roofer. He worked on repairing and putting on new roofs on homes and businesses. He worked for some rich guy. His wife always wanted him to go into business for himself. He did not listen to her. And he was always collecting unemployment in the winter months when he was not working.

That did not stop my aunt. She knew nothing about the hair salon business but that did not stop her. She hired people that did this for her and worked on the business and not in it. She later sold it. She told the secret to her 3 living sons and they started a bar. And they knew nothing about running a bar they hired the right people and delegated.

You should see this bar it has so many TV that I could not count them. And the help the hired knew how to treat customers, like kings. They had so much space and besides the wake there were a heck of a lot of customers on that Monday morning when we buried my aunt.

You don't have to know how to run a business or have skills for the business on what it does. You may not start a doctor or lawyer practice without being a lawyer yet there is one smart guy in my town that has several offices and does not practice law and he is a lawyer. He worked on the business and hired associates to do the caseloads. He is one the riches lawyer in several counties of Pennsylvania.

One of my students when I taught gave me an article and unlined this statement because he knows I practice that secret to some extent.

This article was about Kemmons Wilson. You don't know who he was ok but you probably stayed at one of his hotels. He was the founder of Holiday Inns. And one of his 20 principles is: No Job is too hard as long as you are smart enough to find someone else to do it.

I do know my aunt was a great reader. What she read I do not know. She might had learned the secret from reading like I research all that I know. But that something I never asked her and she took it to the grave.

I miss her. She was still beautiful as when she was young now at death at 77 years of age. They only way you could tell she was old is by her hands. She was a worker on the businesses she and her son's had.

The she dealt with two of the most always tragic parts of live her oldest son died my friend, Tony died and so did her youngest Steven long before she died.

At Steven's funeral she ask me why does God allow these things to happen. I could say which is still true today. I am not smart enough to know.

3 Things Your Business Needs:Learn more about them:

EARN $347.23 BEFORE BREAKFAST with new Affiliate Program Free Information: http://www.Joetrevison.com

Put Your VOICE ON your site for better results: Free Information http://tinyurl.com/b9lxo

Find the PROFIT POTENTIAL on any business you start with new software. Free Information http://www.tinyurl.com/9nfkl

DO IT NOW!

You can contract me at joetrevis@aol.com My shopping cart is: http://www.Joetrevison.com/shop

my site: Trevisonshop

About the author: Trevison is a former College teaching, teaching math, accounting, taxes and payroll. He now operated a accounting practice in Downtown Erie PA he also has a business on the net http://www.Joetrevison/shop and a web site http://www.Joetrevison.com with lot of free items like a newsletter and a business system FREE

In-store Collaboration

Author: Craig Smith | MBA

The maturation of multi-channel commerce

More and more retailers are realizing the benefits of multi-channel retailing. Leveraging brand equity in multiple touchpoints has been proven to drive loyalty and interaction among consumers. With trends clearly showing the Internet as the core component to pre-purchase research, brick and mortar brands can ill-afford to take a wait and see approach as it relates to core multi-channel offerings.

Three core enhancements must be executed flawlessly to have true multi-channel integration:

* In-store associate kiosks

Leveraging the eCommerce store within an in-store environment solves fundamental out of stock situations, provides a new channel for up/cross selling, and maximizes profitability per square foot.

* In-store pickup

Incorporating buy online and pickup in-store functionality eliminates the barrier of shipping in the online sales equation. With shipping costs being the number one driver to why shoppers choose to not purchase online - this initiative help reduce key customer based purchase inhibitors while drive incremental sales in-store traffic. The solution also provides added convenience and satisfaction to the consumer, as they no longer have to wait to receive their merchandise.

* In-store returns

Returning products that were bought online, in-store, can bring many back-end technology bottlenecks to the radar screen. Forward thinking retailers must accurately map their order processing and inventory data to empower service associates with the data they need to reconcile and close the transaction efficiently at the POS.

Slow processing and a poor return experience will virtually erode a consumer relationship that was costly to start and maintain.

Getting your organization on board with change

Convincing company executives that these initiatives deliver ROI may be challenging, but that challenge pales in comparison to what is faced in your store network. The perspective change within the rank and file employees in your organization will prove to be your most daunting task as it relates to these initiatives.

Within all three of the solutions above, the web transaction integrates with the physical store. The store is the final piece of the puzzle in all three scenarios, making it the most crucial element to deliver a proper transaction. If your employees do not execute properly on this level, the result will be an un-utilized solution, or even worse, a customer perspective that your employees are incompetent.

The key is getting your employees aligned with multi-channel change. This happens by driving two key operational strategies in conjunction with a multi-channel technology solution.

* Training

Store managers must take the lead in understanding multi-channel solutions, while leading efforts to replicate this knowledge among customer-facing employees.

Prior to solution launch, be sure to communicate the internal and external value among the manager base, create a solution handbook for employee questions, and bring managers in to the home office for a ½ day workshop to become experts right before the solution goes live.

* Incentives

Employees must feel that the web-generated order still has some benefit to them. To drive accountability, some type of carrot must be given to ensure that employees have reason to treat the web-driven transaction seriously.

Because in-store employees receive bonuses for comp sales, create some type of awards program for efficiency as it relates to in-store multi-channel solutions. Or provide a piece of all web sales, distributed on a regional basis.

Understand the dynamics of your employees - how they work and what motivates them. By closing the gaps in training and incentives, multi-channel success becomes much closer to being reality.

About the author: http://www.trinityinsight.com

Achieving a State of 'Flow' at Work

Author: Laura Stack, MBA, CSP

Achieving a State of 'Flow' at Work

Do you ever feel like your mind is a million miles away? You can watch someone in a meeting who is ""somewhere else,"" and they have a far-away, glassy look to the eye. You know they are not hearing a word of what is being said. They may be with you physically, but their minds are somewhere else, thinking about some meeting, worrying about that errand, or trying to figure out what someone meant by a passing comment.

Contrast that with a time you were so immersed in an activity that time just stood still? Your stomach suddenly growls, and you look up at the clock to discover you worked right over your lunch hour and didn't notice! You were totally immersed in what you were experiencing or doing. What are the benefits of this extreme focus?

* Output is increased. You simply get more done when you are 100% attuned to your task. You'll get more letters written and more projects completed

* You perform optimally and do your best work. If you are giving your total attention to something, the quality will be better. Isaac Newton said, ""If I have ever made any valuable discoveries, it has been owing more to patient attention than to any other talent.""

* The time invested in projects is decreased. If you don't feel like doing something in the first place (like paying bills), wouldn't you rather have it over in an hour instead of stretching it out over three?

* Less rework. Your focus reduces the time it would have taken you to correct the mistakes and omissions that are a byproduct of inattention.

* Peace of mind is enhanced. There is an old legend about a man who travels the world searching for the meaning of life. One day he climbs a high mountain to a monastery to get the advice of a monk who is reputed to be the wisest man on earth. When asked for the secret to happiness, the monk replies simply, ""DO whatever you're doing.""

What are some of the characteristics of the non-flow state?

?? Continually stopping one task and starting another

?? Not establishing a goal or ""end"" state

?? Constant disruptions and interruptions, which make it difficult to concentrate

?? Feeling overwhelmed

?? Low energy period

What are some characteristics of the flow state?

?? A vested interest in the outcome

?? A strong belief that you can and will accomplish your goal

?? Total focus, with no interruptions

?? High energy period

?? Passion/fun/enjoyment

?? Proper environmental conditions (temperature, smells, noise)

?? Minimal effort required (low learning curve)

How do you achieve this wonderful state of flow and become fully present-focused?

* Master your job. Research shows that your ability to experience flow is related to your mastery of the mechanics of your job. The more unfamiliar you are with your work, the harder it is to achieve. Just as learning to drive was at first a conscious behavior, when mastered, it became subconscious. If you're on a learning curve in a new activity, it will be harder to achieve intense focus. The more you learn the job, the better your ability to concentrate and ""let go.""

* Prepare for and expect to achieve focus. Set your mind properly. Consciously, willfully decide that you are going to concentrate. Have a positive attitude going into the task. Prepare your materials in advance of getting started and have what you need at your fingertips.

* Clear your desk. Do your piles talk to you? ""Do me!"" ""Don't forget me!"" Clutter can be psychologically distracting. You will focus better on what's in front of you if you don't have ten other things surrounding you. Clear the piles, so everything is out of your line of sight except the single thing you're working on.

* Set aside some time. Estimate how long the task will take and schedule an appointment with yourself on your calendar. Total absorption is very relaxing. It's splitting your attention--between what you're currently doing and what you have to do next--that's exhausting. When you become focused on the task of the moment, time seems to fly, and you get the job done easier and faster.

* Ensure no interruptions. The ability to work uninterrupted is very important to devote your complete attention to an activity. Having privacy will help you achieve a state of flow. Tom DeMarco and Timothy Lister, co-authors of Peopleware: Productive Projects and Teams, claim reaching a state of flow requires at least 15 minutes of ramp-up concentration. People are especially sensitive to interruptions during this time. When people are disrupted, they can't go right back in. They require an additional 15 minutes of time to get started again. This leads to increased frustration and reduced productivity. Close your door if you have one, or leave your office and retreat to an empty office where no one can find you.

Take each step deliberately and with full attention. Strive to be ""in the moment."" When you read a book to your child, really READ a book to your child. Don't be focused on all the to-dos that you must do when you're finished. Be present and available and in the now for those people and tasks you care about.

Make it a productive day! ™

(C) Copyright 2004 Laura Stack, MBA, CSP. All rights reserved. Portions of this newsletter may be reprinted in your organization or association newsletter, provided the credit line is present.

About the author: Laura M. Stack, MBA, CSP, is ""The Productivity Pro""® and the author of Leave the Office Earlier. She presents keynotes and seminars on time management, information overload, and personal productivity. Contact her at 303-471-7401 or Laura@TheProductivityPro.com.

A Lesson On Following Directions...

Author: Paul D. McDonald, MBA

Pat (my older brother) has only followed one recipe in his life. It was such a disaster that he never followed a recipe again!

We were kids, and Pat had just become a Boy Scout, so I guess that would make him about 11 or 12 and me about 7 or 8. It was mother's day and he wanted to make ""Breakfast in Bed"" for Mom and Dad. We got up early and went to the kitchen. Pat got his trusty Boy Scout Handbook out and looked up ""French Toast"" and we got busy.

We clanked around for a while and made a mess, but somehow managed to come up with breakfast. We mixed up the batter and made the toast in the skillet. It looked delicious. There was plenty of batter left and so we made some more French toast. Why not? We had to eat too!

After that, we saw that there was still plenty of batter left so we thought we'd make seconds. We figured it had to be a great recipe for the Scouts to use it!

This process continued for some time, and we deiced that we'd just bring the food up to Mom and Dad (who were wide awake and in complete fear of the noise we were making) and then come back down and make the rest. We brought it up and they enjoyed their breakfast.

Dad was the first one down to the kitchen and saw what we had been doing. He looked over the situation and looked at all the French toast we were making. He then looked in the bowl of batter we had made and saw that there was a lot left.

""Thanks for the breakfast, fellas."" Dad said.

""You're welcome."" Pat responded.

""We had fun!"" I chimed in.

""Where'd you get the recipe for the French toast?"" Dad asked.

""From the Scout book."" Pat replied.

Dad walked over to the Scout book and looked at the recipe. At the top it said: ""Serves 40.""

Pat never followed a recipe again.

About the author: Visit Paul McDonald's cooking blog at http://creativecooking.blogspot.com/

Connection 5: Support Group (Part 5 of 7)

Author: Paul D. McDonald, MBA

Everyone can use support in some area of his or her life. Some people are at a point where they truly need significant support and others may only have the desire for a lighter amount of support.

A support group encompasses a specific category where people can meet and either discuss issues or receive the benefits of a serving team. One support group might be for single mothers to share their feelings and emotions of their days, another support group could be for business owners to network and share ideas. A third type of contact could be where someone of need receives specific help such as a food bank or automotive repair ministry or alcohol/drug dependence support.

The successful connection in support is made when someone's daily life is impacted positively in Christ's name. The advantage of this type of connection is that it heals precisely where the recipient is hurting.

About the author: Paul D. McDonald, MBA, has consulted with churches on growth and management of the ""business aspects"" of running a church. Visit http://wreach.blogspot.com/ to learn more.

Connection 2: Medium-Sized Groups (Part 2 of 7)

Author: Paul D. McDonald, MBA

Successful medium-sized groups are easy to spot. They are usually organized into basic categories of people (men, women, college, high school, kids, etc.) These groups involve in-depth teaching combined with fellowship. There will often be opportunities for interaction between people who attend the meetings actually during the meeting. In addition, the relaxed atmosphere is likely to provide interaction outside of a small geographic area around the attendee's chair or table. This happens as people sit in different locations each time and promotes multiple contacts (and thus, connections) within the group.

Successful connections are made in the medium-sized group through the people who attend as well as the people who organize the events. This connection is reinforced by continual attendance and through the ""mixing up"" of seating at the location. The advantage of this type of connection is that feedback can be readily received and results can be quantified.

Temporary Groups

Some medium-sized groups are temporary. Large churches may form medium-sized groups to help connect a group of people and to help them form connections and bonds. Other successful medium-sized groups could be a ""spiritual gifts"" course or a ""membership"" course, or perhaps a mission trip where people will be temporarily held together because of certain given conditions.

Permanent Groups

Other medium-sized groups are permanent. youth, junior high, high school, college, singles, seniors, moms, and dads name just a few. These groups will have fluid members, but the groups themselves are permanent and reliable (such as Men's Ministry meets Wednesday morning, High School meets Wednesday night, and so forth).

About the author: Paul D. McDonald, MBA, has consulted with churches on growth and management of the ""business aspects"" of running a church. Visit http://wreach.blogspot.com/ to learn more.

Connection 3: Small Groups (Part 3 of 7)

Author: Paul D. McDonald, MBA

Small groups are the backbone of a good connections system. People connect in a small group through the fellowship, study, prayer, and other activities of a small group. Small groups are a part of the strong church and seven connections. They are a key part, but not the only part.

Successful connections are made through the exclusive contacts within the group. This intimate setting provides the opportunity for very strong bonds to form. The advantage of this type of connection is the ability to use the small group system of accountability and feedback.

About the author: Paul D. McDonald, MBA, has consulted with churches on growth and management of the ""business aspects"" of running a church. Visit http://wreach.blogspot.com/ to learn more.

Connecting in Large Groups at Church (Part 1 of 7)

Author: Paul D. McDonald, MBA

Connection 1: Large Groups

The typical worship service represents the ""Large Group"" concept. The connection here is between the people ""performing"" the service and each individual who comes to the service. The more people that participate as ""performers"" in the service, the more likely it are that the people attending the service can make a connection with someone in this medium.

Large Group meetings tend to be of a more formal atmosphere. There is a usually a defined ""stage area"" and ""audience area"" designed for ease of operations of the service. Because of the nature of a large group, the time and location rarely changes and is something that is dependable. Families usually sit together and there is very little interaction between attendees. There are several categories of people involved in a successful worship service. For the purposes of connection, we examine two groups: The ""Front-Line"" people and the ""Performers"" of the service.

Front-Line: Ushers, Greeters, Nursery, and Parking Lot Attendants

Most people will first encounter either ushers or greeters when they come to a worship service. Outreach Ministries states that the decision to return or not return to a church takes place in the first five minutes. The first people encountered by worship service attendees should be warm, welcoming, and well trained in their tasks.

Even though the front-line person is critical to the success, the ""connection"" with the Large Group is not made with the ""front-line"" person. Merely, a successful front-line contact sets up the attendee for a successful connection with one or more performers of the worship service.

Remember that these people are often the first person that a new guest meets at the church. In effect, they represent the pastor/speaker of the day. In fact, ""Young parents will select a church more on the nursery care than on the doctrinal statements of the congregation, "" states John C. Maxwell.

Performers: Speakers, Musicians, Artists, etc.

The word ""performers"" is used here to represent the group of people who perform the duties of the worship service. A ""Performer"" is someone who is supposed to be seen by the attendees during the service. People who attend a worship service will likely relate to one or two of the ""performers"" during a worship service and a connection point can be made. A successful connection is made when the attendee can identify with a performer of a large group. This connection is reinforced through repeated successful connections over time. The advantage of this type of connection is that strong connections can be made without any personal one-on-one contact.

Performers include teachers, pastors, choir members, praise band, drama teams, scripture readers, announcement speakers, and anyone else who is seen or heard from the ""stage"" or pulpit area.

Information Area

The Information Area for new visitors is critical. The majority of remaining connections will be made or at least set in motion through this one point.

Churches have many ideas for information areas, and the needs of the area vary from one church to the next. However, here are some key points to consider when creating an information area: 1. Have a prominent location for the information area 2. Staff the information area with the right people who are well-trained 3. Staff the information area well in advance and well after the service 4. Have plenty of well-prepared ""hand-outs"" of information and service directories ready 5. Avoid clutter-keep it clean and crisp.

About the author: Paul D. McDonald, MBA, has consulted with churches on growth and management of the ""business aspects"" of running a church. Visit http://wreach.blogspot.com/ to learn more.

Choose the Best Communication Tool

Author: Kelly J. Watkins, MBA

Today's technology has provided us with so many forms of communication that we often grab for the nearest gadget without asking an important question, ""What gadget is best?"" Or, in more formal terms, ""What is the most effective method of communicating for this situation?""

Should you make a telephone call, or would it be better to visit in person? Should you whip off a quick email message or type a formal letter? What about a fax? Should you page the person and have him/her return your call? Is it acceptable to call this person from your wireless phone? Do you need to schedule an in-person meeting or would a videoconference be more efficient? Do you need to arrange a teleconference or will three-way calling suffice? Should you call the other person on his/her wireless phone?

Technology offers many options for communicating. To be effective, you want to make the right choice.

Start by considering your audience. If an employee hates email, don't use it to convey bad news. If a client dislikes wireless phones, don't call him/her from yours. If your boss is annoyed by pagers, don't page him/her unless it's vital.

Ask yourself, is it acceptable if there is a lag time between when the message is sent and when it is received? Be careful when determining what is ""quick"" communication.

For example, email isn't necessarily fast. Simply because email is sent instantaneously doesn't mean it's received that quickly. Some people only check their email once a day or once a week.

Regular mail is notorious for being slow. There's a reason it's nicknamed ""snail mail."" If you have a quick question or need a clarification, pick up the telephone or walk across the hall. Hey, the exercise is good for you!

Is there a chance the communication could be misunderstood or misinterpreted? Face-to-face contact allows you to obtain valuable non-verbal feedback. And, you can receive this feedback immediately and in mid-sentence, instead of waiting until you've sent an entire document, only to discover you're on the wrong track. Remember, too, that a videoconference is another way to achieve face-to-face contact.

On the other hand, if you're communicating numbers, financial data, or complicated information, put it in writing. This will help you avoid miscommunication or confusion.

Are you having trouble building a relationship? Whether the person is a co-worker or a new client, look for the most personable methods of communicating. Make a telephone call, or pay a personal visit.

Is the appearance of the letter or proposal important? If a potential client will be making ten copies of your proposal and distributing it to the Board of Directors, don't fax it. Consider sending the copy via regular mail - in a flat envelope.

What is the volume of information that is being communicated? Faxes are best suited for sending brief pieces of information.

Does the communication require input from several people, or are you brainstorming ideas? If so, consider a face-to-face meeting or a teleconference. That way, everyone can participate at once.

If you need time to think about your reply, avoid the telephone. By using a written format, such as a letter, email, or fax, you have time to consider the matter. Also, if a client is asking detailed pricing questions, you can eliminate confusion (and protect yourself) by putting it in writing.

Is the receiver in a different time zone than you are? Maybe you are ready to leave the office, but you want to send information about an order. If the client is three time zones away, a fax or email will reach him/her more effectively than a phone call.

Finally, in this age of technological gadgets, don't underestimate the power of a hand-written note. That's one way to let employees know you appreciate them or to stand out among the competition. How many of your competitors will take the time to hand write a note to a potential client?

Use today's technology to your advantage. Don't sabotage your message by choosing the wrong method of communicating it. Make a conscious decision about the most effective medium for your situation.

About the author: Kelly J. Watkins, MBA, Louisville, KY. Visit: http://www.KeepCustomers.com to order, Email Etiquette Made Easy (a comprehensive guide filled with exercises & examples) or for tips on communication & customer service! (812) 246-2424 or kelly@keepcustomers.com.

Buckyballs in Ministry

Author: Paul D. McDonald, MBA

""Buckyballs"" are molecules named after F. Buckminster Fuller. Chemically, it is C26, where the carbon atoms are connected into a large ball (see figure at right). This molecule is incredibly strong. It can bounce, enlarge, compress, and even hold several other molecules inside its structure. It is stable and difficult to break down.

Pretend now that each individual in the church is a carbon atom. Their ""binding"" is the relationships that they have with others in the church. If an individual has a relationship with one other person and that relationship suffers, then the ""lattice structure"" of the church suffers. Churches can quite easily lose people this way.

Also, if one group of people has strong bonding with each other and one other person (such as a small group leader or small group coach) then the same issue exists on a grander scale. If the one person who holds that key relationship with the church (the ""lynchpin"" in the diagram) breaks that relationship (be it theological differences or moving to a new city) then the group for any reason that has the strong relationship with that one person loses their link with the church.

However, if one person has good relationships with many people and one ""breaks"" there are others to keep the person in the church. The church is then strong, elastic, and will continue to grow. These ""lattice relationships"" will keep people coming back through thick and thin.

What can we use from this in ministry? Work to form the Seven Connections of a Strong Church!

1. Large Group (Worship Services) 2. Medium Sized Group (Men's, Women's, High School, Junior High, Etc) 3. Small Groups 4. Serving Teams 5. Support Group 6. Mentorship 7. Prayer Support

Work to get people connected through all seven categories and they are much more likely to remain connected to the church body!

About the author: Paul D. McDonald, MBA, has consulted with churches on growth and management of the ""business aspects"" of running a church. Visit http://wreach.blogspot.com/ to learn more.

Virtual Calling Cards Are Taking Over the Web

Author: Alex Davidoff, MBA

Virtual Calling Cards Are Taking Over the Web

    A few years ago when cellular phone companies came up with ""free long distance"" plans most of us at the phone card industry thought that would be the end of the era, as we know it. A decade passed and we are still in business and... business is booming. The main reason for the continued success of the calling cards is our old friend - the World Wide Web.

According to the search authorities such as Yahoo and Google, over 800,000 searches last month, were performed by people who were looking for either calling cards or phone cards. People who wants to save money on their long distance cost and don't want to be ripped off by the local phone companies charging obscene per minute rates. So what is causing this industry to spike 300% over the same period of time last year? The answer is simple: Virtual calling cards !

    Although, we hear word virtual almost every day ""virtual this, and virtual that ... Virtual sites, and virtual relationships,"" so what exactly is a virtual calling card , that lives in cyber space and is causing the entire buzz? Imagine a calling card that is virtually indestructible, card that can't be lost or stolen, and can be instantly shared with all of your friends and family. Card that can be reprinted as many times as you want as well as recharged multiple times directly from your bank, a credit card or any virtual currency such as PayPal, e-Gold or WebMoney.

Imagine a rainy nigh at the hotel room where you just have to call home to talk to your loved ones and tell them how much you miss them. So instead of running to the gas station and browsing through the stack of different calling cards and reading small prints for surcharges you simple log in to StartDialing.com and get you very own Virtual calling card with great domestic and international rates and no hidden charges! Another great example is an international business trip where local phone systems are confusing and extremely expensive, but don't be alarmed, since you have StartDialing on your side. Dial local access number and save up to 90% on all international calls from over 30 different countries.

    One of the pioneers of the Virtual Card market was StartDialing International (http://www. StartDialing.com ). They took the idea of the Virtual calling cards to the next level. They've created the environment where user can securely buy a calling card number and use them from anywhere, from their cell phones to hotel rooms and airports. The next idea was get rid of annoying PIN number that always gets lost or simply forgotten. Now you can just register your phone number with StartDialing Virtual calling card and the system will automatically recognize your call and even dial most frequently dialed numbers for you.

    Today StartDialing.com is one of the most successful online calling card vendors and a working prove that simple old ideas such as calling cards can get a new life on the virtual space of the Internet.

About the author: None

Connection 4: Serving Teams (Part 4 of 7)

Author: Paul D. McDonald, MBA

All of God's Children are called to serve the Lord. Some people can serve on a daily basis and others are barely able to serve in any capacity. In any event, the opportunity to serve can build an extraordinarily strong connection point. People who are not even Christians are often willing to serve in some capacity--sometimes in a food bank or a home building program or a mission trip to a foreign country. Others may serve as ushers, greeters, parking lot attendants, nursery staff, mechanics, teachers, chefs, custodians, painters, ... whatever needs to be done.

These serving teams can be a one-time team such as a missionary trip, or an ongoing team such as an usher team. The point of caution here is to ""mix-up"" the serving teams from the small groups so that the same connections are not repeated. Have a ""ready menu"" for serving opportunities. Let people select from the following: 1. One-time serving opportunities 2. Monthly serving opportunities 3. Weekly serving opportunities 4. Daily or full-time serving/volunteer opportunities.

The successful connections are made as people develop relationships through working together toward a common goal. The advantage of this type of connection is that it builds teamwork and a sense of camaraderie.

About the author: Paul D. McDonald, MBA, has consulted with churches on growth and management of the ""business aspects"" of

running a church. Visit http://wreach.blogspot.com/ to learn more.

Gifts for Grandchildren

Author: Paul D. McDonald, MBA

Here's a way you can give a great gift to your grandchildren! You can set aside as little as $25 a month (up to $10,000 per year) into a Uniform Trust to Minor's Account.

The Uniform Trust to Minor's Account (UTMA) is a special account that can pass money tax-free to a minor. However, since minor's cannot ""legally"" make their own decisions, the money is held in trust.

Another option is to gift money to a ""College IRA"" account. This account allows you to accumulate money tax-deferred for college education. Each student can put up to $500 per year into this account.

Using these two gifting methods can dramatically help your grandchildren go to the college of their choice.

About the author: Paul D. McDonald, MBA is a financial professional specializing in working with seniors and business owners. He assists people in making decisions on retirement planning, investing, insurance, budgeting, debt management, and many other critical financial decisions. Paul welcomes calls on the subject at the toll-free number 1-877-711-1264 or you can visit his website at http://seniorfinances.blogspot.com/.

Bear With Each Other... PLEASE!

Author: Paul D. McDonald, MBA

""Bear with each other and forgive whatever grievances you ma have against one another. Forgive as the Lord forgave you."" -- Colossians 3:12

Let's face it--people are difficult sometimes. I haven't met a person (me included) who doesn't have specific quirks and issues. Sometimes issues that people have can rub against us like sandpaper. And sometimes these people don't even know that they are being abrasive or even have an issue!

Yet we are told to ""Bear with each other"" and to forgive. Out of all my experience with difficult people, I have only one real conclusion that I can come to--most of them don't even realize that they are being difficult and see themselves as victims and are just trying to be loved!

Think of three people in your life that are ""difficult"" people. How do you come up with that? Easy! Think of one of your favorite activities, and then think of the three people you would least like to show up! If you like golf, who do you not want to golf with? If you like fishing, who do you not want to fish with? If you like shopping, who do you not want to shop with?

Learning to bear with these people is the first step to letting them feel liked and even loved. Sure, maybe they have real behavioral issues to work out, but they will never get to them without first feeling accepted and loved.

God commands us to bear with each other--and if that wasn't reason enough, think of all the good that could follow from simple forgiveness!

About the author: Paul D. McDonald, MBA, has consulted with churches on growth and management of the ""business aspects"" of running a church. Visit http://wreach.blogspot.com/ to learn more.

Connection 6: Mentorship (Part 6 of 7)

Author: Paul D. McDonald, MBA

One-on-one mentorship takes place between a designated mentor and an individual. Mentorship can occur at formal meetings or informal meetings, but are usually private conversations. I suggest that all mentors receive approval from the church and ongoing training. If 20% of the church body mentors all 100% of the church body, then each mentor has 5 mentorship relationships--4 with people who are the 80% that are not mentors, and 1 with another mentor (insure that all of the mentors also have a mentor!)

The purpose of this type of mentorship is to shepherd the flock one at a time. The successful connection in mentorship is made when someone's life is positively changed in Christ's name due to the one-on-one mentorship journey. The advantage of this type of connection is that it builds into the individual and mentor, making them both better for the experience

About the author: Paul D. McDonald, MBA, has consulted with churches on growth and management of the ""business aspects"" of running a church. Visit http://wreach.blogspot.com/ to learn more.

How to Build Volunteer Teams with New People: The Five I's

Author: Paul D. McDonald, MBA

The Five I's are a simple way to remember how to look for new volunteers to build your serving teams. Follow this process and you can, over time, build a strong body of serving teams in your church.

These simple five steps are: 1. Identify 2. Introduce 3. Inquire 4. Inform 5. Involve

Identify--Find somebody

You have to identify who you believe would be suitable for the serving task you are looking to fill. Typically, this will be someone you don't know, and someone who is alone or whose family tends to stay by themselves. Look for someone who appears nervous or looking around your church. Don't forget those rare people who ask to be connected, and anyone who is attending a medium-sized group activity.

Introduce--Make contact

If you do not know them personally, you must make contact! It sounds simple but is often overlooked. Most people won't jump out and volunteer automatically. Smile and say hello. Briefly tell them your name and what your level of involvement is at the church and how long you have been coming to the church. Then flow immediately into the next step.

Inquire--Ask about them

This must be done on contacting new people first. You must ask if you can serve them in any way. If it is their first time or first few times to the church and no one has approached them, the chances are high that they came to church looking for some help--so be ready to help them!

Your next step is to ask if they would like to serve others--ask about their desire! Do they want to serve in some capacity? Are they looking to get involved? Do they know about their gifts and about their passions? Use the answers to these questions to help connect them to others in your church community.

Inform--Tell about opportunities

The first step is to be knowledgeable about church serving opportunities. Make sure you have a good handle on what needs to be done (it sure doesn't hurt to have such opportunities written down in the weekly church bulletin!). Through questions, find something that they have interest in doing and introduce them to a leader in that area.

Involve--Direct them toward growth

Do not leave the new person until a ""set thing"" is confirmed. A ""set thing"" is a follow-up time--a connection with another church servant-leader or team member that agrees to help--where an opportunity to learn about a particular serving ministry is set up.

Use these Five I's and continue to grow your ministry through volunteer serving teams!

About the author: Paul D. McDonald, MBA, has consulted with churches on growth and management of the ""business aspects"" of running a church. Visit http://wreach.blogspot.com/ to learn more.

Changing Jobs (Part 1 of 3) Health Insurance, COBRA, and Other Options

Author: Paul D. McDonald, MBA

Maintain Stability in the Midst of Change

Life can bring a flood of changes during your working years. Career changes. Changes in priorities. Changes from work to retirement. How can you make sure that your investments will navigate through these periods of change?

Health Insurance, COBRA, and Other Options

Sometime during the past 50 years, it has almost become assumed that having a job meant having health insurance. But what happens if you are retired, out of work, or changing jobs? What if your new employer does not offer health insurance? There are a few options: 1. Go without health insurance for a period of time 2. Purchase a short-term or long-term individual health insurance supplemental plan 3. Purchase COBRA insurance 4. Join a consumer-driven discount medical plan

Option 1: Go without. Naturally, the problem with this option is that an event could occur during that time that would require serious medical insurance, or could make you uninsurable for future insurance. While this is certainly the lowest cost if something bad does not happen, the risk involved is very high.

Option 2: Individual Policy. This option is preferred by people who expect a long period of unemployment, are retiring, change employers frequently, or are in an industry where health insurance benefits are not normally offered to employees. The advantage to this option is that you will know exactly what your health insurance benefits are and what they cost. The disadvantage is that the premiums are usually somewhat higher.

Option 3: Purchase COBRA. In layman's terms, COBRA coverage is an extension of your employer-sponsored plan that you pay for once you leave the job for any reason.

COBRA was passed in to law in 1986 by the US Congress and the law generally covers group health plans maintained by employers with 20 or more employees in the prior year. It applies to plans in the private sector and those sponsored by state and local governments.{2} The law does not, however, apply to plans sponsored by the Federal government and certain church- related organizations. Check with your employer to learn if you have the option to use COBRA coverage.

Option 4: Join a Consumer Plan. These groups are not insurance, but they do provide the bargaining power of dramatically reducing the cost of medical expenses by ""pre-negotiating"" a rate. Medical providers like the plan because there is no paperwork and the user usually pays in cash so the overhead is low. These programs can greatly reduce the cost of insurance and work with non-covered events.

About the author: Paul D. McDonald, MBA is a financial professional specializing in working with seniors and business owners. He assists people in making decisions on retirement planning, investing, insurance, budgeting, debt management, and many other critical financial decisions. Paul welcomes calls on the subject at the toll-free number 1-877-711-1264 or you can visit his website at http://boomerfinances.blogspot.com/.