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what’s In A Name – Just Your Business Survival!

Business SurvivalWhat’s so important about how I sign my name?”

I get asked that question all of the time from my business consulting clients.

I tell them that a better question to ask me is this:

“Who cares about how I sign my name?”

The answer is a simple one.

NOBODY.

FINE PRINT: Except… your customers and clients, your creditors, your bank, your mortgage company, your landlord, the I.R.S… oh yes… and anyone else that wants to SUE YOU (and don’t forget ALL their lawyers!).

As in many areas of the law, the exception to the rule swallows up the rule!

What do I mean by this?

Well, let’s start with some basics. For instance, if you’ve already formed a corporation or limited liability company (LLC), you may think that you’re already protected from personal liability in the event of a lawsuit against your business.

In general, the rule is that a corporation or LLC, if formed correctly, and if all of the formalities required under the law of the State where the entity was formed are followed, does protect you from personal liability for business debts and lawsuits.

FINE PRINT: Except… when you choose to do business as an individual, and not as the corporation or LLC that you initially formed.

You see, whenever you sign documents like contracts, purchase orders, contractual agreements, leases, loans, mortgages, promissory notes, and most other legal documents involving your business, you need to make sure that you sign your name only in your business capacity.

You MUST avoid signing your name in your individual capacity.

And how do you do that? It’s pretty simple. You see, the format that you use to sign your name is the controlling factor.

In many cases, you as the business owner, sign your name without knowing how to properly sign your name to business documents. In fact, most business owners of corporations and LLC’s still sign legally binding agreements in their individual capacity…and not as the business.

SIGN AS AN AGENT OF YOUR BUSINESS

If you have formed a corporation or an LLC, you must remember to sign all contracts, agreements, invoices, etc… as an agent of the business.

For example… Many business owners haphazardly, or perhaps inadvertently, sign legal documents like the format shown in

EXAMPLE 1 below:

EXAMPLE 1

(signature)
————————
John Doe

“But what is the consequence of signing my name like in EXAMPLE 1 above to invoices, agreements, or documents?”

EXAMPLE 1 and the above signature format legally establishes that YOU have signed the contract, invoice, loan, or agreement as an individual.

And not as an agent on behalf of your business.

If you sign your name to agreements in the form depicted in EXAMPLE 1 above, YOU could very well be liable personally to meet all of the terms of the agreement.

And you likely don’t want to do this!

Why Simply out, because you’re therefore subjecting all of your business assets and personal assets as well to the risk of a lawsuit.

If you sign agreements as depicted in EXAMPLE 1 above, YOU will very likely be named personally, as well as your business, in any lawsuit filed against the business.

Remember then:

Signing your name like in EXAMPLE 1 above DOES NOT establish that you have signed the agreement as an agent on behalf of your business.

“Okay. So how should I sign my name to my invoices, contracts, leases, loans, or any other business agreements?

What simple step can I take to protect my business, and my personal assets as well?

SIGN DOCUMENTS ONLY AS AN AGENT OF YOUR BUSINESS

Make sure that you only sign legal documents, letters, memos, invoices, loans, leases, etc… as an agent of your business.

How must I sign my name to any legal document or agreement to show that I am signing only as an agent of my business?

Follow EXAMPLE 2 below:

EXAMPLE 2

ABC CORPORATION, INC.

(signature)
———————————–
BY: John Doe
President (Company Title)

If you sign your name on the dotted line following the exact format depicted in Example 2 above, you legally establish that you are only signing as an agent on behalf of the business…and not in your individual capacity.

But you MUST follow the Example 2 precisely.

CAVEAT: Another very important point on this topic.

AVOID SIGNING documents that state “PERSONAL GUARANTY” on them.

A Personal Guaranty is usually a separate legal document attached to the main agreement. You generally see a Personal Guaranty in a loan, mortgage, or lease. However, sometimes a Personal Guaranty can be established just by the way you sign the legal document, invoice, lease, or agreement.

How?

Simple. If the agreement merely has a signature line that has your individual name on it without any reference to your business name, you are signing the document as a Personal Guaranty. You are therefore personally liable for that agreement if you sign the agreement with such a signature line.

But, what do I do if I am being required to sign a Personal Guaranty, like for a business loan or commercial lease for example?

If a Personal Guaranty is required, you or your lawyer should negotiate a limited period of time (the shortest possible) that the Personal Guaranty will bind you as an individual.

Remember, if you formed a corporation or LLC in the first place, you did it to avoid personal liability and to protect your personal assets. Anyone who does business with your company should, and usually does, know this. So, be careful. Other possibilities can be negotiated too. Just do your best not to sign in your personal capacity by signing a Personal Guaranty.

It’s important to remember to only sign legal documents, invoices, and even letters as an agent of your business. (Follow the format found in EXAMPLE 2 above).

How else can I make sure that I am signing my name properly to all of my business documents?

Call your attorney to review all of your agreements, invoices, leases, and legal documents BEFORE you sign them. Your attorney will offer sound advice that protects YOU, your loved ones, and your business.

Now, let’s review.

What’s in a name?

Well… besides your business…

…it could be all of YOUR personal and family assets!

The best advicve especially in the midst of tough economic times or a Recession, is to have any document you sign first reviewed by your lawyer or business consultant.

Copyright (c) 2008. Miguel Mendez, Jr. All rights reserved.

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Good Business Habits

Business HabitsLet me tell you straight, you cannot be a successful business person if you don’t have good business habits. Below I have listed a few habits that you should be doing if you wanted to be a successful business person!

1.) Are you committed to every business you have?

Opening a business is easy but maintaining its operation will take a lot of you time. Will you be available in creating marketing plans and promotional materials? Business without marketing plans is suicide. Once you start a business, put every attention to it. Don’t let your employees manage it. Take note of this, you are the only person who has vision for its success so its only you who can make it
grow.

2.) Are you continuously searching for opportunities?

Business people don’t just stick on 1 or 2 business. A business person always searches for more business opportunities. They are not mediocre. They don’t want stable business but rather a growing one. Always search for new ideas to pursue.. A business person has a vision for numerous income streams for profits!

3.) Do you think positive about you business?

A business person don’t pursue a business to which he/she doesn’t feel positive about. Once you start a business, don’t fill your mind with any negative thoughts. Problems may come your way but it will always have a solution. Business people don’t think of failures, always success behind every problem.

4.) Do you share the business vision?

You can’t survive on your own. You may be skillful at some point but it can’t make you very successful. A business person shares a business vision, to someone else, to a possible business partner. If a single business person can earn $1000 a month, then 2 person can earn $2000 a month. Simple logic but its reality. You can earn more as long as you share same vision with someone else.

5.) Do you delegate tasks?

Normally, every business person only thinks of opportunities and its corresponding marketing campaigns. It will not be healthy if the business person will also do the action of implementation. He will be dead meat if he/she will put every burden unto their shoulders. In fact, employees purpose is to put every plan into action, right?

6.) Do you create a good public image?

People are very sympathetic. They support the business whom they like the owner. Whether you like it or not,if people like your attitude and way of doing business, they will support you. But if you look like a bad boy or a person who looks down and criticizes people, believe me, you will loose every customer you’ve got!

Start creating a good public image. Help support the community where you belong. Extend some help to those in need. Don’t act as if what’s the only thing important to you is your profits and earnings. Make the public see that you care.

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Ways To Finance Your Vending Machine Business

Business MachineWhen starting a business, theres that one big wall that block your way, and thats your startup money. Without money to fund your business, there will be no business at all. So how and where can you get money? Read on to get some ideas on where you can find funding sources for your vending business:

Home Equity Loan
Most people immediately think of getting a standard business loan when thinking of financing a home business or business startup. While this may be appropriate, do not fail to consider using your home as a bank.

Small Business Administration Loan
Banks administer this loan and are more favorable to this type than a standard bank loan because they are only liable for 15% of what they loan (the government carries the other 85%). There are a number of types of documentation required with this loan, but it is certainly worth the trouble if you are willing to follow the process.

Standard Bank Financing
This financial source is probably the most difficult, yet not impossible with good credit and some net worth. Banks typically do not look favorably at vending machine loans and consider them risky because they are not considered a fixed asset.

Invest Your Tax Return Money
For a lot of people, April 15th is bonus time every year as they receive tax returns with earned income credit and deductions for kids. You can use this to slowly build your vending business. Its a great, safer way to build your business.

Family Loan
In some cases, a family member may be favorable to loaning you the money for starting your home-based business. While there may be relationship risks to this setup, it needs to be considered as an alternative to standard business financing. Some family members would rather invest in your business vision and draw a little interest rather than lending it to a bank at 2-3%.

Sell Items You Dont Need
If you badly need to create an income steam, opt for this least popular fund source. How about downsizing your car and investing the money in machines? Why not have a huge yard sale to raise $500-$1000? Why dont you downsize your home and invest your profits in the business? All of us have some money around us in our life that we could put to work.

Lease Purchasing
An option to getting into the vending business is to make an offer to buy an established vending route by lease-purchasing. You agree to lease the route from the seller with an option to buy at the end of the lease period. You invest your profits from the lease period into the purchase of the business or you can continue leasing for the cash flow you are receiving. Remember to get legal help in setting up any contractual agreement like this.

Owner Financing
Not that always easy to find but dont let it stop your from asking the seller of a vending route for it, especially if you have some money to put down.

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Powerful Methods To Stay Successful In Business

Successful BusinessIn business, achieving success is merely half the battle won. The other half? As many veteran businessmen would agree, sustaining success  staying on top of your game and on top of THE game  is the more difficult part of owning and operating a commercial enterprise.

Case in point: flash-in-the-pan businesses are a dime a dozen these days. Overnight successes are stories that are quite commonplace. But businesses that last for years, if not decades? Alas, theyre rarities in this day and age!

The goal isnt merely to succeed in business. The goal should be to remain successful in business.
Here are 5 powerful principles to live by if you want to achieve such a goal:

1. Believe in your business. Your business is bound to encounter many challenges and many tribulations along the way. Some of these trials would be grave enough to make you consider quitting. But should you? Remember: if you dont believe in your business, if you dont believe that it can succeed, then why should your prospective customers believe that your business is the right choice for them? Your faith in your business will go a long, long way in pushing it to reach its fullest potentials.

2.Find satisfaction in what youre doing. If you do not find contentment in what youre doing, then its just a matter of time before you give up on your business. Fulfillment can be attained in so many ways. If you cannot find that sense of fulfillment from your business, its either because: a) youre not looking hard enough; or b) youre looking at the wrong place. The smallest victory can be a cause for celebration. And the tiniest of triumphs can even provide the biggest kind of satisfaction.

3.Make your customers satisfaction your primary goal. Profit is good, but it shouldnt be the driving force of your business if you want your success to last. The happiness of your customers should be your paramount concern. Remembers, happy customers are customers for life.

4.Strive to improve your craft and your trade. Never rest on your laurels. Always try to be the best you can ever be when it comes to the things you do for a living.

5.Have fun! They say that the best kind of moneymaking opportunity is one that you enjoy doing. If you will find such a business, then youve hit the jackpot. Now, no one said that this jackpot cant be created. You can find enjoyment in what youre doing. Even if the business wasnt born from a hobby you once nurtured, you can still find ways by which you can make it very exciting and very enticing for you. Your enthusiasm for your business will eventually show in the products you will deliver.

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Different Strategic Levels In A Business Organization

Business OrganizationA business strategy defines the direction in which a business will take in the future. The business organization tries to achieve an advantage over the competition by the configuration of its resources within a confronting setting so that the needs of the market are met and the expectations of its stockholders are fulfilled. This is the overall definition of a business strategy. This focuses a business organization on which market it should engage in and the activities that are needed to compete in that particular market for the business to grow.

In making a business strategy, the planners need to determine how the organization can outperform its competition in a particular market niche. These are the advantages of the company which it needs to utilize, in order to gain the upper hand. In this connection, the right resources that the company can utilize should be gained, in order to maintain its competitive advantage. These resources will include the skills, various company assets, relationships, facilities and technical competence. As an organization plan how to manage its resources, it should also take into consideration the environment in which it is to operate. These are the external factors which can have an effect on the ability of a business organization to compete. Furthermore, the hope and values of its stakeholders should also be taken into account on the overall business strategy.

Though there is an overall strategy which a business organization enforces, there are different levels in a business setting where particular strategies are implemented. First there is the so called corporate strategy. In this particular strategy level, the focus is on the overall purpose and coverage of the organization to meet the expectations of its stockholders. This is crucial to the company since it has a great influence on its investors and guides the strategic decision making all through the company. A corporate business strategy is posted for all to see in the mission statement of a company.

Next in importance to the corporate strategy would be the business unit strategy of a particular business organization. A business unit strategy is mainly concerned with how a business can compete in its chosen market niche. The decisions which are the focus of attention in a business unit level are about meeting the needs of its costumers, choice of products, gaining advantage on the competition and the creation and exploitation of new opportunities.

The next level of business strategy which a business organization focuses on is the operational strategy of the company. At this level, the focus is on how each segment of the business can be systematized so as to give the direction to the business unit strategy. The consideration is on processes, people, resources and other such concerns. Various business organizations have their own strategies which they see are most advantageous to the company. They each implement safeguards to guarantee that strategic goals and objectives are met and vigorously implemented and followed by each member of the team.

Increase Your Business By Making Use Of Roll Up Banners

They say improvement is necessary and they are right as if anyone stops improving, life will come to a standstill. It is true for businesses as well, as even after achieving what they set out to achieve, if they stop thinking to go beyond even further then it may involve a risk undoing all the hard work achieved up until now. Therefore, even if a business is well established, they have to look out for new ways to promote their business to tap into more customers, while for the startups or not-so-large businesses, they have to constantly give promotion their all to climb the ladder of success. If any business is thinking of expanding its business to a more global or even on a national level, then commercial events, expos and concerts, regularly held at various national and international commercial centers of the world, is a good choice to make a strong case for a business to showcase their services and expect more customers to come in. What those events demand is a strong presence besides having a promotional medium powerful enough to attract and engage the masses.

The solution to that problem can be found in the form of roll up banners

Roll up banners in Melbourne, Mumbai or Munich, whichever city they are used in, are a perfect medium to showcase whatever you want to display about your business at events of such large magnitude. There are so many companies and individuals present at such events which makes it difficult to gather attention upon one’s stand, but with roll up banners standing proud in front of your stand, attention is sure to be garnered because of them being attractive, engaging and a bit different from other conventional promotional mediums. When people see a different thing, they tend to get curious and inquisitive about the same, which is what you should target, i.e., to target the audience and when an inquisitive individual or business comes up, make sure that you convert them into your customer.

You can seek the help of professional banner printing companies to get your roll up banner devised in cost-effective rates. These companies have excellenct graphic designers who will design fantastic designs for your banners, which will make the heads turn towards your banner. After generating the buzz, it is the sole responsibility of your sales team to elaborate about your business ideologies, services, products and vision to make prospective customers for your business.

Nameology, Numerology, Astrology, Baby Names, Name Numerology, Business Numerology,

First Woman Nameology, Numerology & Astrology Genius from South India

Namealogy Scientific Consultancy employs the power of numbers to remove problems from the lives of people. Dr. J.Lakshmi Jeya Swaruoopa, who hails as the First Woman Nameology Genius from South India. She is also known as the Lucky Number scientist. With Namealogy she corrects all problems in human life, like dullness in education, Infertility, Strife in married life, marital problems between husband and wife, Delays in marriage, loss in business, Absence of recognition and Obstacles to progress and prosperity. She employs palmistry, astrology, graphology, phonemics and modern scientific data to perfect her architecture with numbers, alphabets and names. The services which they provide are as follows:
Nameology
Name decides Good Luck or Bad Luck. You can have a perfect name so beneficial as a sacred mantra if you want to be lucky. Or if you are unlucky, you can have a name which is as evil as a curse. The answer is in applying the correct scientific principles of Nameology, in the design of names. To result in Success, effort alone is not enough, Dr. Lakshmi Jeya Swaruoopa says. Luck or good fortune can take effect only for the people who are blessed with the correct names. According to her concept, anyone can choose to be rich or poor, good or evil, healthy or sick, happy or miserable, fortunate or unfortunate, famous or notorious, victorious or defeated depending on the correctness their individual names. Name should be designed based on the date of birth, time of birth, numerology, palm readings, astrological data, the status of planetary positions and their conjoined implications in any ones life.

Astrology
It is the predictive science which studies the position of planets in the Mid Heaven at the time of Birth of an individual. She practices Astrology as a Science and offers advice to her clients with logic and scientific explanations. Her approach is towards educating the clients to make them understand as to why they are facing the problems in life. Subsequently, she offers realistic and practical solutions to their problems. Her in-depth knowledge and research in the field of astrology has enabled her to connect numbers, colors, nutrients etc. with the family of nine planets and thus suggest effective remedial measures using the same. As a result, the Remedial Measures suggested by her, if performed meticulously before the event, act as a protective umbrella and mitigate the ill-effects of the Planets.
Numerology
Numerology is a traditional systems used to analyze relationships between physical objects / living things / words etc. and numbers. In simple words, it is how numbers relate to human personality and time cycles. This study of the symbolism of numbers is used to determine a person’s personality, character, strengths and weaknesses, talents, obstacles, personal visible & hidden needs, emotional reactions etc. Dr. J. Lakshmi Jeya Swaruoopa did her research into how numerology transforms lives of people. Soon, she discovered that only when she applied the findings from chiromancy, astrology, Phonemics and graphology in numerology calculations, she could solve all problems correctly. This discovery crowned her with great success. Several factors are considered in numerological readings of an individual, including date of birth, birth time, place of birth, parents, spouse, children etc.
Name Numerology
According name numerology your name relates to who you are personally, and this very personal meaning does not dependent on collective elements of your life. Each single name corresponds to a symbolic number that defines the main characteristics of the personality.
According to the basic guidelines in Numerology, the ‘name numbers’ are very important for they can be related to the relationships with other people – this is no mystery for the sound effects of your name produce certain patterns and expectations.
Business numerology, Business astrology
Business has always being one of the central forces in the lifespan of human civilization. From the ancient times, it always has impacts on human lives and even on the growth of the nations and races. In the modern times, after the money took the central place in human life, importance of business has increased to a great extent and it has become increasingly complex and competitive. So the success in this sphere of life has become desired but difficult. Dr. J.Lakshmi Jeya Swaruoopa provides many astrological & numerological solutions to guide you to choose a right and beneficial business. If you already in the business and not getting the desired results ,then we will suggest you the remedies to improve state of your business or suggest you to change the area of business after studying your horoscope. We provide an exclusive corporate astrology & numerology services for businessmen to know their astrological & numerological compatibility with their partners in business, the good or bad impact of their partners astrological profile on them, and above all whether they should start a business in parternership or not.
Marriage compatibility

This compatibility between partners is extremely important to enhance our home or business environment, and our lives. The better the overall compatibility between us, the better our life experiences will be. We influence each other in many ways, including, and usually unknowingly, through our bodies’ electromagnetic field. A ‘good’ partnership match creates positive energy; and a ‘bad’ one creates friction and static. Moreover Marriage is an important social institution where a man is combined with a woman to lead a happy and contented life. We provide you a report analyzed from 10 major Marriage compatibility factors, which helps you to determine the psychological and the physiological nature of your partner. Moreover we can also detect the defects. In addition to the above we analyse Mangal dosha or Mars dosha or Chova /Chevvai Dosham in both horoscopes along with PapaSamyam(matching of planets which destroys married life) and also Dasa Sandhi porutham for both.

Baby names
Most of us in India know the importance of naming a baby. Since ancient times, Indian baby names have been suggested based on astrological sciences. The Baby Names typically start with a special alphabet, but a lot of times people overlook the numerology aspect of a Baby Name, and may have to later go for Name Correction. Dr. J. Lakshmi Jeya Swaruoopa will suggest a Lucky Baby Name for your Child based on Astrology and Numerology.
Most experts would agree that the original baby name given to a child is the one that carries the most impact numerologically, sometimes even after you have gone for Name Correction. As such, choosing a name and the correct spelling is all the more important.
You would need to suggest us a few Indian baby names of your liking, and our Expert Astro-Numerologists shall pick the best name for your baby, and a lucky spelling to go along with the baby’s name.

Love match Astrology
If you are in love then you must be interested to know whether you and your partner will be happy together. You would be interested to know about the future life which you are planning to spend with each other. Love match astrology is the perfect choice for these young and new couples. There are different signs to which people belong to. The future of the person can be predicted with the help of these signs. These signs are influenced by the sun. The sun has a great influence on the lives of the people.
Overcoming Marital problems
Marriage and Marital Life can be a boon or a bane depending on the correctness of the individual names and vital numbers of the wedding Day. Favorable vibrations between husbands and wifes names promote harmony. Anti vibration does just the opposite. Even the day number and life number can have anti vibration on the wedding day, which can totally wreck the good results of marriage says, Dr. J. Lakshmi Jeya Swaruoopa. For the less fortunate married couples who lead a cat and dogs life of quarrel and dishonor, she administers this Nameology therapy to bring back harmony, love and understanding in marital life.

Importance Of Business Consultancy Services

The consultancy services are increasing day by day for various industries. The consultancy is a knowledge dispersion process through which any individual or a company out sources its information. The business consultancy services include updating the client and customers with the new emerging trend in their respective business. The strategy is based on market research analysis. The market research analysis includes studying the business in the global markets and the competitions for the business.

The consultancy services include provision of strategic tools for the development and expansion of the business. The business consultancy services provide the competitors an extra edge in the competitive markets. Consultancy services are the problem solving approach where the service provider focuses on solutions rather than the problems. The service in consultation with the staff and the management works on the core domain of the problem. Hence this evaluation results in diverse solutions and better decision making process. The consultancy services works on the risks assessments and provides appropriate measure to avoid risks and to handle risks if encountered.

The consultancy services are well known for their planning strategy on the basis of the resource allocation, scheduling of the various projects and termination of the project. The consultancy services evaluate the various projects in terms of their life cycle and utilization of resources and providing high quality outputs to the organization. For an effective functioning of any organization it requires effective and strategic policies based on the proper evaluation of the business. The consultancy services provide an effective medium to review these strategies and policies of the business. The company is assured the desired results by the predictions through such consultancy services. The services provider works as a research analyst in reviewing the pros and cons of the business.

The business is not only measured on the sales and pricing strategy but also on the impact it creates in the minds of its customers. The surveys include the reviews on the operations of the business. It also requires the effective use of the human resources. The key to any business is its financial growth and stability. The consultancy services are beneficial in providing this business reviews. The policy also includes the measure of the business plans. The business is evaluated by the professional who are engaged in these consultancy firms. These are mostly the management graduates who work on the various policies of running a business effectively. Consultancy services aims at securing the place for the business in the competitive global market place. Hence a company must select an appropriate consultancy firm as the policies suggested may play a prominent role in shaping the business. For the evaluation criteria the company must review the past success of such consultancy services and the key clients of such services. This assures the company about the service providers. This also helps in establishing trust and faith about the service provider. Hence a company must select its consultancy services based on its objectives and the services including value added services provided by the service provider.

How Do I Start A Mall Kiosk Business

Retail kiosks, also known as mall kiosks actually started at around the 13th century in India. Now these little showcases are viewed all around the country for all sorts of different reasons. I’ve been to a few seafood shacks in various countries by the water such as Greece and they have these kiosks everywhere! We Americans have these kiosks in malls, usually surrounded by merchandise such as cell phones, jewelry, skin care and food! These retail display cases are really a superb idea because the mall kiosks are literally right splat in the middle of the mall floor – more foot traffic.

But, they also are about appearances as well and giving people a true view of what you are selling and what you have available. These kiosks are all about catching people’s attention so they gravitate towards your showcase. So one of the VERY first things you are going to need for your business is to figure out what kind of a product you want to sell, again this can be pretty much anything your imagination can think of. Just make sure that it’s not the same exact item that is available in a mall, and if it is, make sure YOUR prices are a few dollars shorter!

Once you figure out the product you want to start selling, you are going to need a sturdy store display or a set of streamline showcases such as these kiosk stands. If you don’t like the look of a kiosk stand, that’s fine, you can always choose from a jewelry showcase, retail display or glass showcase. These are the same shelving units you have seen in places such as cake shops, cellphone and electronic stores, video game stores and jewelry stores. They are types of displays that allow you to place the product safely in the case to show off the products you have.

These cases are also closed in, so this is an extra added security measure that a lot of people like more than an open kiosk where anyone could ultimately just walk past and take whatever they want! A lot of these showcase options also have extra extra added security by adding lock and key to the back of the unit that only you can get into. The third thing you need to do after picking out your products and your showcase displays is to get a license and permit for the business and the zoning of having the kiosk in the mall.

Usually this is done by contacting the mall and letting them know you want to set up a kiosk. They will then either say okay and you can set your stuff up, or they might make you pay a fee or charge you a percentage of your profits you make. You can get your license and permits from your state government website or just look around online and see what you come up with. This is an application of sorts you will need to fill out before starting your business in THAT specific mall.

The Systematic Approach To Formulating Your Business Strategy

If you find the prospect of crafting a Business strategy over aweing – you are not the only one. The truth is that many Business entrepreneurs don’t really see the need. Nevertheless the is that most successful businesses have well defined business strategies.

A robust business strategy can mean the difference between a lucrative business and you working 60 to 80 hours a week all year long – and not making enough to make ends meet

On the other hand, many high performing entrepreneurs who have a business strategy are not married to their business and make piles of money – and they usually attribute their fortune to having a strategic plan which guides their business.

Your Business Strategy determines the focus, vision and aims for your whole company. A written business strategy will help guide, but not dictate, your day-to-day operations. Defining, sharing and communicating your business strategy influences and guides operational decisions.

So what is the process for preparing your business strategy?

1. Define your business vision. In your perfect world, just what your business look like What markets would you seek to dominate?

2. Decide your company’s core operating values? You are looking for the core beliefs and values that you wish your company to be known for. Once your key values are clear they form your guiding principles. In other words, why are you in business and how do you do business?

3. Strategy concerns long-term plans. Your strategic is based on the over arching objectives that will help you get from where you are now, to where you want to be.

4. Medium Term Planning. Strategy is about the large scale – long time scale. You need to include elements to guide your day to day, short-term performance. Remember to be “SMART” when setting your annual goals SMART stands for Specific, Measurable, Attainable, Relevant and Timely. As with any plan you need to define the tasks, who by and when. Figure out what resources you’ve already got, and what resources you need to get you past any barriers. And then create an action plan that clearly lays out how you will achieve your goals. Consulting with your staff will deliver much richer solutions.

5. It is important that you carefully monitor progress on your strategy and plans. Develop a set of milestones. Don’t underestimate the importance of this step. Being able to communicate progress to all stakeholders: investors, shareholders, partners, staff, customers and your local community is immensely powerful.

6. Communicate your strategy and plan. The short-term plan from your strategy creates the momentum and direction for your day to day activities.

7. Walk the Talk. Now that you have the roadmap, it’s time to begin the journey.

8. Make sure you know exactly how you are doing on a day by day basis. Create a dashboard to report on your key performance indicators.Prompt corrective action is often more important that the plan itself.

9. Follow the same cycle next year. (Dream, Plan, Act, Check).

Building a robust, realistic and achievable business strategy is not easy. It requires commitment, effort and discipline. Yet the rewards are obvious. Juat about every successful business has an active, documented business strategy.