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Wednesday, August 21, 2013

The 7 Laws of Business. by Mike Murdock

The Bible Is A Book About Doing Business On The Earth...With God And With Man. 

Business is solving a problem for someone for an agreed financial reward. Your success in business is guaranteed when you honor these 7 hidden laws that produce Favor, Recognition and Productivity.  Are you longing to start your own business?  Are you struggling to create recognition and credibility in a competitive world?  Your business life will change within 30 days as you apply these explosive secrets in your present environment..! 

1. The Law of Need. “Seest thou a man diligent in his business? he shall stand before kings; he shall not stand before mean men,” (Proverbs 22:29). “And Pharaoh said unto his servants, Can we find such a one as this is, a man in whom the Spirit of God is? And Pharaoh said unto Joseph, Forasmuch as God hath shewed thee all this, there is none so discreet and wise as thou art: Thou shalt be over my house, and according unto thy word shall all my people be ruled: only in the throne will I be greater than thou,” (Genesis 41:38-40). 

2. The Law of Passion. “Whatsoever thy hand findeth to do, do it with thy might; for there is no work, nor device, nor knowledge, nor Wisdom, in the grave, whither thou goest,” (Ecclesiastes 9:10). “Not slothful in business,” (Romans 12:11). 

3. The Law of Difference. “I have planted, Apollos watered; but God gave the increase,” (1 Corinthians 3:6).  “Now there are diversities of gifts, but the same Spirit. And there are differences of administrations, but the same Lord. And there are diversities of operations, but it is the same God which worketh all in all. But the manifestation of the Spirit is given to every man to profit withal. For to one is given by the Spirit the word of Wisdom; to another the word of knowledge by the same Spirit; To another faith by the same Spirit; to another the gifts of healing by the same Spirit; To another the working of miracles; to another prophecy; to another discerning of spirits; to another divers kinds of tongues; to another the interpretation of tongues,” (1 Corinthians 12:5-10). 

4. The Law of Focus. “Brethren, I count not myself to have apprehended: but this one thing I do, forgetting those things which are behind, and reaching forth unto those things which are before, I press toward 
the mark for the prize of the high calling of God in Christ Jesus,” (Philippians 3:13-14). “Only be thou strong and very courageous, that thou mayest observe to do according to all the law, which Moses My servant commanded thee: turn not from it to the right hand or to the left, that thou mayest prosper whithersoever thou goest,” (Joshua 1:7). 

5. The Law of Partnership. “Can two walk together, except they be agreed?” (Amos 3:3). “Two are better than one; because they have a good reward for their labour. And if one prevail against him, two shall withstand him; and a threefold cord is not quickly broken,” (Ecclesiastes 4:9, 12). 

6. The Law of Change. “Behold, I will do a new thing; now it shall spring forth; shall ye not know it? I will even make a way in the wilderness, and rivers in the desert,” (Isaiah 43:19). “To every thing there is a season, and a time to every purpose under the Heaven,” (Ecclesiastes 3:1). 

7. The Law of Trust.A faithful man shall abound with blessings: but he that maketh haste to be rich shall not be innocent,” (Proverbs 28:20). “Moreover it is required in stewards, that a man be found faithful,” 
(1 Corinthians 4:2). “His lord said unto him, Well done, thou good and faithful servant: thou hast been faithful over a few things, I will make thee ruler over many things: enter thou into the joy of thy lord,” (Matthew 25:21). 

Money Is Simply A Reward For Solving A Problem.
Business Is Solving A Problem For Someone For An Agreed Financial Reward.

~Mike Murdock

Common investment errors young entrepreneurs must avoid

It is common for learners to make mistakes, but when dealing with money, such errors can have serious consequences, this article explores further common errors investors must avoid. Read on.....
It is a proven fact that it is best to start young when learning any skill or investing in any business. Experts say entrepreneurs, who begin from the scratch, generally have the flexibility and time frame to take on risk and recover from their money-wasting errors. Hence, it is important for young entrepreneurs to know the common mistakes to avoid in order to achieve a considerable level of success in business. Below are a few errors to steer clear from if you must make headway as a young investor, according to experts.
BIZTOONPoor investment knowledge
The Chief Executive, Nordmark Communications Limited, a notable mobile phone/accessories outfit in Ojo, Lagos, Mr. Nnamdi Daniel, says poor investment knowledge is one major factor that often leads to the collapse of most young businesses in the country. Daniel, who has been in the trade for over a decade, notes that many young entrepreneurs fail to painstakingly learn the ropes of their preferred trade before establishing it. “They often times end up burning their fingers and going back to square one before realising their errors,” he says.
Daniel advises that it is best to make mistakes while still learning than to suffer the consequence of wrong investment decisions. He urges young investors to scout for experts or individuals, who have succeeded in whatever field they wish to invest. “Meet those who are genuine and are doing well and learn from them thoroughly. This might be difficult, but it will definitely pay off when you start your own,” he adds.
Procrastination
No serious minded venture will accept procrastination as favourable. Experts say procrastination can be very detrimental while investing because the markets move so quickly. However, good investment ideas are not always easy to come by. If, after doing a research, a good investment idea arises, it is important to act on it before the rest of the market takes note and beats you to it. Successful investors are of the view that young entrepreneurs can be prone to failing to act on a good idea out of fear or inexperience. They note that missing out on a good idea can make a young investor revise his opinion upward and still purchase an asset when it is not warranted.
They explain that young investors often find themselves with too many options and not enough money. This is one reason entrepreneurs in this category must brainstorm thoroughly before investing. This, however, should not give room for procrastination.
Over speculation
Instead of investing, many young entrepreneurs sit back and speculate. At times, they over speculate, experts say. They note that a young investor is at an advantage in his or her investing life. Should the level of wealth be held constant, an investor’s age affects how much risk he or she can take on. So, a young investor can seek out bigger returns by taking bigger risks. This, experts say, is because if a young investor loses money, he or she has the time to recover the losses through income generation. This may seem like an argument for a young investor to speculate, but it is not.
Meanwhile, it is common for a novice to be inclined toward speculation if he does not fully understand the investment process. But experts say speculation is often the equivalent of gambling, as the speculator does not necessarily have a reason for a purchase except that there is a chance that it may go up in value. They observe that this can be dangerous, as there are many experienced professionals waiting to take advantage of their less-experienced counterparts. Therefore, to avoid gambling, a young investor should look to invest in companies that have higher risks but greater upside potential over the long term.
Failing to ask detailed questions
It is your money that you are investing. Even if it is not yours, you are accountable for whatever is spent on the investment. Bearing this in mind, you should be bold enough to ask all the questions that you need clarification on before putting down your money. For instance, if a stock drops a lot, a young investor might expect it to bounce right back, but more often than not, it is down for a good reason. One of the most important factors in forming investment decisions is asking why. Young investors, who have not experienced the pitfalls of investing, can be particularly susceptible to making decisions without locating all the pertinent information.
Not investing
Experts say an investor has the best ability to seek a higher return and take on higher risk when he has a long-term time horizon. They note that investors have the longest time horizons, therefore, a high tolerance for risk, when they are young. Young people also tend to be less experienced with having money. As a result, they are often tempted to focus on how money can benefit them in the present, without focusing on any long-term goal (such as retirement). Spending money now instead of saving and investing can lead to bad habits and contribute to a lack of savings and retirement funds.

Tuesday, August 20, 2013

How to Protect Yourself From Fraud

YOU may have heard the saying, “You can’t cheat an honest man.” Like many sayings, that one is untrue. Every day honest people are the victims of fraud; honesty alone doesn't protect them. Some of the cleverest minds in the world are devising and carrying out schemes to separate people from their money. More than a hundred years ago, one writer noted: “There are some frauds so well conducted, that it would be stupidity not to be deceived by them.”
Deception has a long history, dating back to the garden of Eden. Old schemes have many variations, and new schemes are being concocted all the time. So how can you defend yourself? You need not try to learn all the ways in which criminals defraud people. A few basic precautions will go a long way in protecting you from becoming a victim.
Safeguard Personal Information
If a person steals your checkbook or credit cards, he can buy things with them. If he steals your bank account information, he may be able to order and write checks in your name. If he obtains enough personal information, he may assume your identity. Once your identity has been stolen, a criminal can withdraw money from your bank accounts, charge things to your credit card accounts, and obtain loans in your name.* You may even find yourself arrested for a crime you did not commit!
To protect yourself from this type of fraud, be careful with all personal documents, including your bank statements and checkbooks, driver’s license, and Social Security card or national identity card. Refuse to provide personal or financial information to others unless there is a legitimate reason why they should have it. This is especially so for credit card numbers and bank account information. The only time you should give anyone your credit card number is when you want to buy something with it.
Swindlers known as dumpster divers root through garbage in search of such information. Instead of simply throwing out paperwork that contains personal data, you are wise to burn or shred it. This includes used checks and bank and brokerage statements as well as old credit cards, driver’s licenses, and passports. It is also wise to destroy unsolicited credit card applications that you receive in the mail, since these contain information about you that someone else might misuse.
Use Common Sense
At the heart of many frauds is the promise of unrealistically high returns from investments. A common get-rich-quick scam is the pyramid scheme. Though there are many variations of this scam, the usual design is for investors to recruit other investors, for which the recruiters receive a commission.* Chain letters work in the same way by asking you to send money to people at the top of a list. The assurance is that you will receive thousands of dollars when your name reaches the top.
Pyramid schemes always collapse because it is impossible to keep on recruiting new members. Consider the math. If five people launch a pyramid and each one recruits five more, the number of new recruits becomes 25. If they, in turn, each recruit 5, that would mean 125 more. When recruitment reaches the ninth level, there will be close to two million people who would have to recruit more than nine million others! Promoters of pyramid schemes well know that there is a saturation point. When they suspect that point is near, they take the money and run. You will probably lose your money, and those whom you have recruited will now be trying to recover their lost money from you. Remember, for you to make money in a pyramid scheme, someone else has to lose money.
Is someone offering you easy money or huge profits in return for an investment? A cautionary warning is this: If an offer appears too good to be true, it usually is. Don’t be quick to believe advertising claims and testimonials, thinking, “This is different.” Keep in mind that people are not in business to give away money or to share secrets to make you rich. If someone claims to have special knowledge that will make you a fortune, ask yourself: ‘Why doesn't he use it to make himself wealthy? Why is he wasting time trying to sell it to me?’
What if you are told that you have won a contest or a prize? Don’t get excited—it may be a scam, one that has victimized many. For example, a woman in England received a letter from Canada telling her that she had won a prize but that she needed to send a $25 processing fee. After sending the money, she received a phone call from Canada telling her that she had won third prize in a drawing worth $245,000 but that she would have to pay a percentage of that amount as a further processing fee. She sent $2,450 and received nothing in return. If you have to pay for a “free gift” or a prize, it’s a scam. Ask yourself, ‘How likely is it that I have won a prize in a contest that I did not enter?’
Do Business Only With Reputable People
Do you believe that you can sense dishonesty in people? Be careful! Swindlers are called con, or confidence, artists because they know how to win the confidence of others. They are skilled at making their victims trust them. Sellers, both honest and dishonest, know that before you can sell a product, you have to sell yourself. Of course, this does not mean that you should mistrust everyone, but a healthy degree of suspicion is important in defending yourself from fraud. Rather than try to discern a person’s integrity by trusting your instincts, watch for two telltale signs that characterize many frauds: First, does an offer appear too good to be true, and second, is the seller trying to rush you into making a decision?
Too-good-to-be-true offers abound on the Internet. Though the Internet offers much of value, it also enables criminals to defraud victims quickly and anonymously. Do you have an E-mail account? If so, you may find yourself on the receiving end of spam—unsolicited commercial E-mail. Though spam offers an endless array of goods and services, many of these are fraudulent. If you respond to an unsolicited E-mail by sending money for some product or service, you will probably receive nothing in return. If you do receive something, it will almost certainly not be worth the money you have invested in it. The best advice is, Never buy anything from a spammer.
This applies equally to those who phone to sell you something. Although many telephone sales calls are made by legitimate businesses, telemarketing scams cheat people out of billions of dollars every year. There is no way to know whether a sales pitch is legitimate if you simply talk with someone who calls you on the phone. A swindler may even pose as a representative of a bank or a credit card protection agency. You have good reason to be suspicious if someone calls you claiming to be from a bank or a company with whom you have an account and asks for information that they should already have. If that happens, you might ask for the person’s phone number. Then call back after verifying that the number really is that of the bank or agency.
A good policy is not to give your credit card number or any other personal information to a stranger who calls you. If someone calls to sell you something that you do not want, you can politely say, “Sorry, I do not do business over the phone with people I do not know.” Then hang up. There is no reason for you to engage in an unwanted conversation with a stranger who may be trying to defraud you.
Deal only with reputable businesses and people. There are many legitimate companies with whom you can safely do business over the phone or on the Internet. If possible, check out the salesperson, the company, and the investment through some independent agency. Ask for information about the investment, and read it carefully to make sure that it is legitimate. Do not be rushed or pressured into making a quick decision.
Put It in Writing
Not all fraud starts out as fraud. An honest business can go sour. When that happens, those running it may panic and resort to fraudulent measures to recover their losses. Doubtless you have heard stories of business executives who lied about revenue and profits and then when the business collapsed ran away with what was left of the money.
To protect yourself from both fraud and misunderstandings, you should get the details in writing before making any major investment. Any contract that you sign should document all the terms of the investment and the promises made. Recognize, too, that no matter how sound an investment may appear, no one can guarantee that things will go as planned. (Ecclesiastes 9:11) After all, there is really no such thing as a risk-free investment. Thus, an agreement should specify in writing what the duties and responsibilities of each person will be should the business fail.
By being aware of and applying the basic principles we have briefly considered, you make yourself less vulnerable to being a victim of fraud. An ancient Bible proverb provides valuable advice. It states: “Anyone inexperienced puts faith in every word, but the shrewd one considers his steps.” (Proverbs 14:15
A swindler chooses easy targets, those inclined to believe his every word. Sadly, there are many people who take no precautions against fraud.

Friday, August 16, 2013

10 Proven Ways To Impress Your Boss



No.1 Take the initiative
Most people in the workplace don't struggle to get their work done, they struggle for recognition and new challenges. If you see a new project, go after it. If you see something that needs doing, do it. The higher you go in a company, the more you're steering the company, and that means taking risks. Fortune favors the bold. So, as long as you're handling all of your current duties well, overstep your boundaries a little bit and start a new task that's valuable to the company. Let your boss know what you're working on. They may take the task away from you, but they won't forget your vision.

No.2 Come prepared

If you're showing up to work prepared to work, you are on the right track. You should show up prepared and you should stay on top of your work throughout the day. You should be prepared with all the information you need for each meeting or project. A promotion or expansion of your current job are both ways the company gives you more responsibility. If you're not handling what you have on your plate currently, how do you expect to be given more?

No.3 Have an informed opinion
Know the state of your division and know the state of the marketplace you work in. Then, develop an opinion about how to improve -- realistic ways your team could try something new. Having an opinion is the most common thing in the world in business, but having an informed opinion is depressingly rare. If you take the time to develop a viewpoint, you should also share it when it's appropriate. A great way to share your opinion with your boss? When you're having a one-on-one discussion about something, say these magic words: “I disagree.” Politely and sincerely present the information you have and your interpretation of how your company could act on it. Of course, if your boss overrules you, abide by his decision. Sharing your opinion (your informed opinion) shows your boss you're not just a "yes" man. As a bonus, once your boss knows you don't automatically agree with whatever he says, the times you do agree will carry more weight.

No.4 Save the company money
Ever wonder why your company is in business? To make money. Oh, you work for a nonprofit? It's trying to make money to give it to people and causes that need it. Either way, making your employer more money is a contribution to the central goal of your company (it is, quite literally, the bottom line). Just like your personal finances, a company can have more money in two ways: 1) Earning more; and 2) Spending less. While you can contribute to the company's profits in many ways, you have direct control over cutting expenses. Keep an eye peeled for ways the company can spend less, and share your ideas early and often. Found a cheaper vendor for one of your company's needs? Share it! The day may come when the company passes the savings on to you in the form of a larger paycheck.

No.5 Dress up
You know the old adage, “Dress for the job you want, not the job you have”? No? Well, learn it well. Look at what the boys on the next rung of the ladder are wearing, and dress like that. Even if you're not trying to get promoted, but just want to expand the job you have, dressing well and grooming properly is a nice way to do it. You want to give the impression you're pleased to be at work and take it seriously. Wearing a belt that should have been retired years ago just gives the impression that you don't care. If you're clean-shaven, shave daily. If you have facial hair, keep it groomed.

No.6 Read
Yes, read at work. We're not talking about putting your feet on your desk and reading the latest newspaper. But do keep a relevant book or industry magazine on hand, and pull it out whenever you have a few minutes of downtime. Read a few pages after you complete a task as a short break from work and you'll find it easier to refocus on your next task. You are developing your mind and your outlook, though, and turning yourself into a more valuable employee. So, you are developing one of the company's assets (you), and done in moderation, this is an incredibly efficient way to increase your value.

No.7 Come in early and leave late
Hear that? It's the sound of your fellow readers frantically scrolling down to the comments to whine, “It's not about how much time I put in at work, it's about the quality of work I do!” That's a valid point. Quality is more important than quantity. Know what else is completely true? As long as the quality's there, the quantity helps too. Nobody's asking you to stay an extra four hours. In fact, don't do that as it can actually make it look like you're falling behind or not managing your time correctly. Instead, look at it from your boss' perspective: Two employees are due in at 9 a.m. One arrives at 8:40, the other slides in like clockwork at 8:59. The second employee is at work because he “has to be.” He is following the rule, true, but the boss may well assume that if the rule wasn't there he'd be late every day. The first employee, on the other hand, gives the impression that he's excited to be at work and is there to tackle his goals. Not a bad return on 15 minutes of your time

No.8 Keep a clean work space
This one is a bit of a balancing act. Basically, you want your space to look worked in: not too cluttered, but not totally bare. If you have no paper on your desk, it doesn't look like you're working. But if you have no desk visible under all that paper, it doesn't look like you're working either. Why is your work piling up on you like that? We know, we know, you need all that paper. Well, if the stuff you have out is that important, it's worth having it organized and usable. Put your filing cabinet to work or, if it's really bad, look into getting a document scanner and digitizing your files. Lastly, when you leave work for the day, take 60 seconds to spruce up your area.

No.9 Highlight relevant industry innovations
Even if you're in an industry that you don't plan on being in forever, you should know your business. It's what you do every day, so you may as well be the best at it. This includes knowing the industry. When a news story covers your industry, clip the article and e-mail a scan of it to everyone on your team, boss included. Showing that you're aware of your business' place in the larger world shows you have your eye on the big picture -- that's a good message to send to your boss.

No.10 Complete the tasks everyone forgets
There are little things in every workplace that everybody forgets, from specific work processes that get overlooked to maintenance issues like turning the fans on in the morning. We're not saying you should be the one who cleans up the coffee station every morning, but you can pitch in and take some pride in your work area. Looking for an easy way to implement this? Learn how to unjam the copy machine. Check out the steps online, and next time you head over to the machine and discover that one of your coworkers has thoughtfully jammed it in zones A, B and C without clearing it, you can roll up your sleeves and solve it. It won't take long for this type of etiquette to be noticed.


curled from here

Tuesday, August 13, 2013

To Your Business Success

1.       You can start exploring business opportunities by first looking at what gives your energy & excitement. That may be the business you've been looking for
2.       Lessons from billionaire Carlos Slim: understand ur line of business; buy when others are selling; watch ur expenses; see opportunities, not problems; reinvest
3.       Due to the high rate of insecurity in the country, you can import for sale, non-lethal self defense weapons such as pepper spray, tasers, among others
4.       Make your business visible. Market your company and its offers by making yourself or a senior staff the company?s representative at all times
5.       Fruits are becoming popular as Nigerians are now eating healthy. Set up a fruits store selling smoothies, natural fruit juices, fruit and vegetable salad etc
6.       Standing out from the crowd can turn ur business into a cash machine. If you don't make ur business stand out, u will be lost in a sea of similar business types
7.       Standing out from the crowd can turn ur business into a cash machine. If you don't make ur business stand out, u will be lost in a sea of similar business types
8.       Success requires training, discipline & hard work. If u are not afraid of these things, the prospects are just as great today as they ever were- Rockefeller
9.       Real estate is a business you can start with little capital. All you need is a network of people selling or buying properties & u link them up for a commission
10.   Errors become mistakes when we perceive them and respond to them incorrectly; mistakes become failures when we continually respond to them incorrectly.
11.   If you have a knack for finding unusual and unique gift items for friends, you may want to know how to start a gift buying business for yourself as a career.
12.   You don't need to start something unique to be in business but instead look for ways of improving existing businesses or doing them differently
13.   If A equals success, then the formula is- A = X + Y + Z, X is work. Y is play. Z is keep your mouth shut. Learn to be discreet in your business dealings
14.   The difference between an optimist and a pessimist is that a pessimist sees problems in opportunities whereas an optimist sees opportunities in problems
15.   Start a post-construction cleanup service. Clear up debris and clean up newly built houses or offices for a fee. You'll always be in business
16.   The 4 Cs of business success- Curiosity, Confidence, Courage & Constancy but the greatest of these is Confidence. When u believe a thing, believe it all the way
17.   Greatness is not achieved by never falling but by rising each time we fall-Confucius. Don?t fear failure so much that you refuse to try something new
18.   Dhirubhai Ambani, founder of Reliance Group & father to two billionaires started Reliance Industries from scratch and never saw the four walls of school.
19.   I like thinking big. If you're going to be thinking anything, you might as well think big- Donald Trump

20.   Henry Ford, founder of Ford Motors was born into abject poverty. He never saw the 4 walls of a school but became one of the richest men that ever lived

Saturday, August 10, 2013

Effective Techniques To Promote Your Business

ways to promote a business






Advertising



· When consumers make purchases, more often is because they have been influenced by advertisement or by something said to them.
· Many people tend to ask around a certain product before they make purchase.
· Advertisement can be done through social sites, blogging, forums, media, billboards, etc.

Business Cards

· You should give out as many business cards as possible
· They usually have your contacts and customers can call back for enquiries, comments, suggestions and complains.
· They give a professional look to your business.

Providing Discounts

· There’s no single customer who hates discounts.
· It is a form of rewarding customers for doing their purchases in the business
· It ensures they come back for more purchases.

Brochures

· Brochures usually tell customers more about your business.
· They provide the customer with an opportunity to learn about your products and services.
· They may be handed to the customer by hand or by inserting then in customers’ purchases.

Competitions

· Often, it is done by using rewards for purchases made to entice customers.
· It also engages people in talking about our business.
· Social sites like Facebook and Twitter work well in promoting such competitions.

Websites/blogs

· A business should have a website, or at least a blog.
· This help in creating a brand which is easy to find over the internet since most people have access to the net in present day.
· Aim for a clear design that outlines your skill and professionalism.
· Make sure your website/blog can deliver good results.
· It should give as much information as you think is need by customers.

Freebies

· They include branded calendars, umbrellas, t-shirts and pens.
· These items are cheap to produce and eat only a slice of the budget.
· They are also easy to distribute
· They reach many people at a low cost

Using promotional Videos

· Businesses can use videos as part of their promotional campaign and usually have very positive results.
· Displaying videos on popular websites can be very effective in increasing sales.
· Popular sites like YouTube can also work effectively in video marketing.

Creating a Logo

· Creating a logo increase the credibility of your business.
· It inspires others to advertise for you through word of mouth.
· Logos can be placed in your business cards, business stationary, email signatures, signs, blog, website and brochures.

Listing your business in popular directories

· Directories such as Yahoo Local, Bing Local and Google Plus Local are very popular and work very effectively in promoting your business.
· A link to your business website and a description of the business should be included in the directory.

Providing quality products and Services

· The business has to provide the best products and services it has to offer.
· It ensures competition is kept at bay
· It ensures that the customers will always come back.
In conclusion, for a business to have positive returns, one needs to invest wisely in marketing strategies that promote his/her business. Even with a tight budget, some of the strategies are relatively cheap and easy to handle. It is therefore, an obligation of any business person to invest in the best promotional strategies suitable for his/her business.