How to ensure a seamless change of ownership in business

How To Ensure A Seamless Change Of Ownership In Business

So you have completed your due diligence, talked to all your advisers and professional consultants, taken all the steps necessary to value a business, lined up your financing and taken the plunge. What should you do with your new baby to ensure that you get through the critical stage of transition and make sure that you survive and prosper?

You will already know quite a lot about the business and its requirements before you take control of the keys. You should have spent many a long hour in preparation and have drawn up your own comprehensive plan already. This is one of the essential prerequisites when you plan to own a business. They say that when you move a house plant from one position to another, it goes into shock. The same analogy can be used when it comes to the business, and you will need to ensure you minimize the «shock».

The first point that you’ve got to remember is that you’ll need to keep all your attention on your goals. Now, probably more than ever, it is essential that you’re not distracted and that you allocate as much time as is humanly possible to this new enterprise.

Wherever possible, have the previous owner add some much-needed stability by staying around for a predetermined period of time. He or she can act as an advisor and can be seen (but maybe not heard as much) by clients, customers, employees and vendors. Try not to make any sweeping changes, as clients and employees may react unfavorably. If you make small changes, make sure that you view the results before you progress to make others.

Take the time to meet all the key players — your employees and your vendors. Create a one-on-one, personal relationship with your staff right from the start. Maintaining employee morale at the outset is vitally important and make sure that you establish a positive mode of communication. Try to get in touch with every vendor, if you’re able to, and do whatever you can to establish a positive relationship with these important players.

The previous owner and employees represent a wealth of information and you should make sure that you gather this data before you consider implementing new procedures. You may be in charge, but you are still «the new kid on the block» around here, so make sure that your decisions are based on a solid footing.

Don’t be tempted to throw out any procedures, especially record-keeping and bookkeeping. You need to be able to compare where you are now and where you are going in the future, with previous results. You will not be able to make informed decisions otherwise.

Your customers, who sustain the business, are familiar with being dealt with in a particular way. By all means, review the customer relationship policies and procedures, but don’t be tempted to make any wholesale changes. Your goal is to keep those customers at all costs and to make sure that they are happy during the transition.

You may now own a business in an unfamiliar industry. It is important to get to know the ins and outs of the industry as quickly as possible. Familiarize yourself with the technology, software, programs, procedures and how to handle potential problems in the future.

Establishing goodwill is one of the main objectives at this point. When you purchase business assets, one of the key elements is this goodwill and whilst somewhat intangible, it is very valuable. Consider doing something for all your key players — clients, employees and vendors. Give some kind of an introductory special offer, of some significance, to your clients. Think of an enhancement that you can offer your employees, maybe some improved working conditions or an upgrade to their terms of service.

In summary, remember that you now own a business which is dynamic. You have to give a great deal of your attention to the critical early days and make sure that you grow the business and strive to reach your highest goals.

How to take advantage of tax breaks with a home based business

How to Take Advantage of Tax Breaks With a Home Based Business

Tax Day of April 15 comes around before we are ready. Then we scurry to make sure we have all the deductions accounted for that can hopefully assist us in getting money back from Uncle Sam.

Unfortunately, many people do not realize what kind of tax breaks they can get by having a home based business. Most people think there are many more requirements to having a home business than is actually required by the government. There are only three:

1. You show a profit ‘intent’ (even though you may not show a profit yet).
2. You work your business on a regular and consistent basis (even if only three to four hours per week).
3. You keep good records (just like a big, full-time business).

With a home-based business, it’s important to remember that your street address is also your business address since it is housed in the same location. Because of this, there is a «deductible business portion» of your home-related expenditures. This can include a portion of utilities, furniture, janitorial service, home office equipment, maintenance expenses, etc.

There is also a huge benefit to hiring your spouse for your business because you can then deduct ALL out-of-pocket health cost for the whole family. If you hire your kids in your business rather than give them an allowance, the wage expense is tax deductible to you and is usually tax free to your child (up to $5,700 per year and put any above that in a Roth IRA for maximum benefits).

The biggest single tax deduction may be in your car’s ignition in relation to potential tax savings. Keeping a 90-day consecutive period vehicle log is actually allowed to figure the tax break for your car, rather than writing down that information every time you go somewhere related to business all 365 days of the year.

Never take another ‘vacation’ and not get to claim tax breaks. Make sure you do something in relation to your business when you are traveling so it will become a tax deductible business trip. However, there are some stipulations that apply in this field and you need to be able to substantiate the business expense. However, the number 1 reason that triggers an audit is math errors on the return. The second reason is an incorrect Social Security number on the form. So to keep from sending up a red flag, triple check your numbers.

The IRS has been instructed by Congress to give huge refunds and deductions to taxpayers who have a home-based business, OR anyone who operated one at any time in the past three years. You can easily file an Amended Tax Return (Form 1040X) by following simple step-by-step instructions if you had a home-business in any of the past 3 years, and get a refund check for thousands of dollars…plus interest if you have not claimed those deductions yet!

You deserve to get as many tax deductions as possible if you have a home business, including an online business. Be sure to do your research to see what you may be missing out on.

Introduce adventure to your leisure time with nintendo dsi xl

Introduce adventure to your leisure time with Nintendo DSi XL

Advancement in technology greatly supports the words «All work and no play make jack a dull boy». Life becomes quite boring and lethargic if one continuously keeps on working without playing. Workaholics can find amazing ways to enjoy leisure time through indoor games. It has been observed a gradual increase in the professionals and kids using gaming consoles. Gaming consoles have emerged as a good option for playing adventurous and exciting indoor games.

The advancement in science and technology has been able to bring an amazing process in the recent times. By sitting at home, one can play uncountable games using gaming consoles. Gaming consoles use an interactive electronic device that manipulates the video display signals of a monitor to display a game. Some of the popular consoles are Nintendo Gameboy Advance SP, Sony PSP and Xbox. With the increasing popularity, gaming companies are introducing advanced games with amazing graphics, enhanced sound quality and spellbinding interactivity.

Nintendo is a famous name in the world of gaming consoles. Nintendo has been a successful manufacturer of handheld game console which has come up with its latest version of Nintendo DSi XL. Started with mere objective of serving exciting games to the kids, with DSi XL Nintendo has widened the perspective of the gaming world. Nintendo DSi has emerged as an outstanding product over the earlier version of Nintendo gaming consoles. With 4.2 inch bigger screen the player allows to play the games in better quality and with bigger view. Wider screens allow one to take steps in a game with more accuracy and avoid the obstacles happening during the games. With accuracy and efficiency, a player gets a chance to play the games easily and precisely.

One of the best features of Nintendo DSi Xl is that despite of its «out of date design», it is stealing a huge amount of customer satisfaction. Available in two vibrant shades and twin screens, Dsi XL has inbuilt software with 3 pre installed titles. It’s not mere a gaming console. With its 1.3 Mega pixel camera inbuilt dual camera, the machine also lets you take beautiful pictures. American users can find it with the name Nintendo DSi XL, while it is famous as Dsi LL ? in Japan which was released much prior to its release in America.

Nintendo DSi Series accompanies an adaptor which is usually a network adapter. A network adaptor for console allows one to communicate over network and act as a storage device for games that can be taken from the internet through data transfer. The adapters are categorized under two types namely R4i and R4. For DSi models of Nintendo gaming console, R4i cards are most suitable and R4 cards are apt for Nintendo DS. R4 cards have appeared with number of variants in market including R4DS Upgrade II, R4 DSIII, New R4, R4 advance, R4 Deluxe, R4 Pro, R4 SDHC and R4 Ultra. R4i cards can carry around 60 games on an average depending on the size of the game. All the games being stored in the backup are needed to be legally licensed.

How can a successful home based business create a sense of joy and fulfillment

How Can A Successful Home Based Business Create A Sense Of Joy And Fulfillment

Running a successful home based business can give you tremendous joy, happiness and fulfillment. This will be more so if you had been working for a Boss before you started your own home based business. What is it that makes this huge difference in the lives of these entrepreneurs working from home?

1. You are the Boss and the Lord of all that you survey however small your business might be. This will give you a lot of self satisfaction and pride. No longer will your Boss be breathing over the back of your neck. You can make your own decisions courageously and fearlessly.

2. You no longer have to commute long distances. There are many who spend at least 4-5 hours commuting to work and back. It is a pity that such valuable time is lost day after day and now you can utilize this time in your home business. Furthermore you will save a huge amount on your gas bills.

3. When to start work and the number of hours you will work are all decided by you. This does not mean that you will work only a few hours a day thereby neglecting your business. The fact is that you can make it flexible to look after the kids rather than send them to day care or transport the older ones to school.

4. One of the main reasons for working at home is to spend more time with the family and your home based business provides this wonderful opportunity. You can reschedule your work whenever the situation demands and be of assistance to your family. Your physical presence at home will certainly be a morale booster to all the members of your family.

5. Much money that would normally be spent on commuting to work, on daycare and other matters could be saved when you are based at home. In addition your spouse and the children could also assist you in your business when required thus enabling substantial savings.

6. Office politics is pervasive in most work places. Some people know the art of survival in any situation whereas some cannot. Most people detest carrying tales to their Bosses, back biting and currying favor. For such people a home based business is indeed the opportunity they have been longing for to get out of such an environment.

7. As an employee you never had the opportunity to give free play to some of your inherent talents. In your own home based business there are no limits or restrictions and you have the every opportunity to display all your skills. You will indeed be pleasantly surprised to see the talents and skills that have been lying dormant within you all these years.

8. As the owner of a successful home based business you are no longer an ordinary employee eking out a living on a 9 to 5 job. You get recognized by the banks, small business organizations and by the community as a successful businessman. This boosts your pride and self esteem.

There are bound to be stressful situations and ups and downs in running your home based business. If you work with dedication, commitment and continue to remain focused on your business the joy of being the proud owner of a successful business will outweigh everything.

How to succeed with lia sophia jewelry

How To Succeed With Lia Sophia Jewelry

Hi, There.

Today I want to give you a little insight into the very very popular Lia Sophia Jewelry Online Business opportunity

Lia Sophia is growing fast in the era of Multi-level Marketing (MLM) business since its instigation in 1970 when it was renowned as Act II. Later in 1986 it became known as Lady Remington and finally in 2004 it got its popular name Lia Sophia. It has opened up lucrative business opportunities in front of women by permitting them sell their products of absolute fashion jewelry.

If you are really interested and excited in making decent bank balance for you and your family then you must know the tricks and strategies to succeed in Lia Sophia MLM business. Here we go with some extra-ordinary tips for you:

* It is simple to get yourself set up as a Lia Sophia adviser, by going to the official website, or getting in contact with an adviser you may know already.

* It is a very cost effective business to join as well. In most cases $149 will get you going, plus they will issue you over $1000 worth of jewelry to get you going to sell to customers. The Lia Sophia executives provide you will 24hr support and a complete compensation plan to get you on your way to success.

* It is a fact that the average adviser earns on average $200 from each customer, given that you host a party or function.

* Besides direct sales of the Lia Sophia fashion jewelry, you should make a network of engrossed women who will be your downline and while they sell products you get overturn compensation from their sales.

* The more sponsors you create under you the more will be your income from their sales. Lia Sophia encourages its advisers to become a manager and manage a huge number of advisers under her so that she can earn lump some money each month.

* It is also critical to keep yourself 100% up to date with the companies changes to procedures and compensation plans etc, as they are updated to keep people motivated and clearly to help the company align its self to whats working.

Hence don’t hesitate, get the start-up money ready and start your new MLM business to earn smart money for your family. You’ll find that each and every month you are getting satisfactory income as well as you’re able to give your kids enough time if you’re a mom. The best part of Lia Sophia is that you need not to carry or deliver the products to your customers; the company will do it on behalf of you. So you could become absolutely tension free about the delivery.

I wanted to make it very clear also that I am in now way attached to Lia Sophia, but purely providing some insight to the company, and a simple review hopefully for your benefit.