Tag Archives: Financial News

Credit counseling is not a very well-regulated industry today. In the past, credit counseling was operated more like a social service rather than as a business designed to make a profit. The industry was known by the general term CCCS (Consumer Credit Counseling Service) and operated under the general guidelines of the NFCC (National Foundation for Credit Counseling).

The lay of the credit counseling landscape has changed. As more and more consumers find themselves deeper and deeper in unsecured debt (think credit cards), more and more for profit credit counseling services have sprung up. Some of these services are very good and very fair, but be aware that not all of them are. Some credit counseling services are good, others are bad, and then there are those that are just evil.

1. The debt management service that you choose should be a member of the BBB (Better Business Bureau). You can check with the BBB to see if the company has a good record and if there have been any complaints filed by others. Membership in the NFCC (National Foundation for Credit Counseling) or AICCA (Association of Independent Consumer Credit Counseling Agencies) is also acceptable.

2. If the debt management service promises you that it will take 20 minutes or less to solve all the financial problems, you need to run as fast as you can. They are referring to THEIR financial problems and not yours. It takes time and effort by a debt management service to help with your financial problems and get you the best deals possible.

3. Be certain that the debt management company can help with all of your unsecured debt and do not just deal with a few companies. Half a fix is ​​often worse than no fix at all. …

With the economy on the skids, many experienced mid and upper level professionals are striking out on their own, leveraging their expertise to build their own future and control their own destiny. For many of these aspiring entrepreneurs, creating a compelling brand name is new territory, a complete and utter mystery. They know it’s an important part of the equation, and they may have even had a full time marketing department at their previous firm. But now it’s “do-it-yourself-time,” and there’s a dearth of information on how to brand a new consulting company successfully. Fear no more. The first step in branding a consulting company is to know your objectives. Here are four key questions to clarify your goals…

1. Do you want your company name to stand out, or fit in? This may seem like a trick question, but there is not a right or wrong answer. Some new consultants are so concerned with gaining acceptance in their industry, they are much more comfortable with a name that sounds established and credible, right from the outset. If that’s the case, try looking up a list of others in your industry on sites such as dmoz.org. You will then gain a sense of the nomenclature used in your field. You may be able to emulate the feel, much like other industries have done (i.e. Microsoft’s Outlook, Apple’s Safari, Netscape’s Navigator, etc.) If want to gain notice, then do just the opposite. Look at the company names in your field and use interpretive naming strategies. For example, if nearly everyone in your category uses proper names (sometimes known as “legacy” names) then go with a metaphor (i.e. Jaguar, Caterpillar, Amazon, Monster, etc.) to convey your company’s attributes. Or try positive connotation words to create an entirely new identity (i.e. RedHat, OnStar, FireDog, etc.) Just make sure you have a rationale that can explain why you chose that name, and one that leads to a deeper dialog about your company.

2. Have you explored all the possibilities? Frequently, new business owners become frustrated and discouraged when naming their new businesses, simply because they’ve attempted only one or two naming strategies. Many times they’ve created a list of literal/functional names, (i.e. Custom Software Consulting) only to find the domain names are gone. Or they’ve attempted some obvious metaphors (i.e. Summit, Pinnacle, etc.) and found dozens of companies with similar names. The trick is to employ several methods. These include…

* Key attributes — For an example, we named one staffing company BrightHire.com based on their desire to attract the most intelligent candidates. You can see this employed with company names such as SirSpeedy, EconoLodge, Priceline and Smart Cuts. Is there an overarching benefit you provide that you can incorporate into your name?

* Invented names — This is a favorite with consultants but proceed with caution. It’s easy to get caught up in with the chase of a new name and gradual twist the spelling and message until it’s unintelligible. It’s okay to …

Like your job? Working for a good organization? Over age 50 and looking over your shoulder? If the answer is yes, maybe you should consider making yourself identifiable. In truth is no one is truly indispensable, but for career growth by working hard at making yourself indispensable, your career will prosper either with your current employer, or you'll be a top candidate for a job with another organization.

First, assess your strengths, weaknesses and your value to your group. What is your competition? Now develop a plan with both long and short-term strategies to boost your value within the operation and improve your career and other skills.

Following are 10 immediate actions you can take to make you more likely to be promoted or make you irreplaceable in the face of downsizing or reorganizing:

1. Take ownership of your responsibilities. View your department as a separate company. Consider your actions as if you were president of your company. Look at the balance sheet on every decision you make. Will the decision be seen as an asset or liability? Try to always see the bigger picture.

2. Take responsibility for your career and personal advancement. Be proactive. What are others in the same position doing in other organizations? What results are they achieving? What can you learn from then? Do you need additional training? Maybe some self-study is appropriate. How can you initiate those actions within your "company?"

3. Maintain a positive attitude. Look for ways, even under stress, to find the positive in everything. Find options to overcome obstacles and do not entertain the thought the situation is impossible. Stay away from the naysayers.

4. Consider outsourcing non-critical functions. Become an expert in this area. Lean organizations become more efficient by outsourcing. Let your management know you can effectively run things with fewer people.

5. Find tasks to do better or something that is not being done. In many organizations, especially those in a downsizing mode, responsibilities slip between the cracks. Propose to your boss that you pick up the slack. If you need extra training see that you are prepared. Do not be bashful about broadcasting the positive results.

6. Let others know what you're doing. As mentioned in # 5 above, if you or your team achieves something important to the organization let others know. Some managers believe if they keep quiet and blend into the background they'll be overlooked when and if the ax falls. Do not believe it. Be wise in spreading the word. It is not bragging if you've done it.

7. Excel in an area your boss is weak in. Look for opportunities in this area. Your boss is a good speaker but weak on material, there's an opportunity. Your boss is great on ideas but weak on financial analysis, there's an opportunity. If your boss is good on people skills but weak on technology, there's an opportunity. You see the trend, keep you eyes open and this is an area in which you …

International business is all business transactions-private and governmental-that involve two or more countries. Why should one be interested in studying international business? The simplest answer is that international business enterprises a large and growing portion of the world's total business. Today, almost all companies, large or small, are affected by global events and competition because most sell output to and / or secure suppliers from foreign countries and / or compete against products and services that come from abroad.

More companies that engage in some form of international business are involved in exporting and importing than in any other type of business transaction. Many of the international business experts argue that exporting is a logical process with a natural structure, which can be viewed primarily as a method of understanding the target country's environment, using the appropriate marketing mix, developing a marketing plan based upon the use of the mix , implementing a plan through a strategy and finally, using a control method to ensure the strategy is adhered to. This exporting process is reviewed and evaluated regularly and modifications are made to the use of the mix, to take account of market changes impacting upon competitiveness. This view seems to suggest that much of the international business theory related to enterprises, which are internationally based and have global aspirations, does often change depending on the special requirements of each country.

Another core issue is the company's growth and the importance of networking and interaction. This view looks at the way in which companies and organizations interact and inevitably network with each other to gain commercial advantage in world markets. The network can be using similar subcontractors or components, sharing research and development costs or operating within the same governmental framework. Clearly, when businesses form a trading block with no internal barriers they are actually creating their own networks. Collaborations in aerospace, vehicle manufactures and engineering have all sponsored the development of a country's or a group of countries' outlook based on their own internal market network. This network and interaction approach to internationalization shows the substance of being able to influence decisions when knowing how the global network players work or interact.

For example, a critical market network is that of the Middle East. Middle East countries are rich, diverse markets, with a vibrant and varied cultural heritage. This means that although there has been a harmonization process during the past few years, differences still exist. Rather than business being simpler as a result, it should be recognized that because of regulations and the need those countries have to structure as they enter the global market, performing any kind of business can be highly complex. It should be remembered though that the Middle-Eastern countries have a low-income average and like to have their cultural differences recognized. Those firms that will or have recognized these facts have a good chance of developing a successful marketing strategy to meet their needs. Quite some firms have realized these important differences and reacted …

A good commercial lighting system can make a big difference in any business. Studies have found that a properly installed commercial or industrial lighting system can enhance the moods of employees and customers, improve employee productivity, and even increase sales in a retail business or restaurant. Because of this, it's vital that the people responsible for purchasing commercial lighting systems know just what products to buy for their specific business.

The Effect Industrial Lighting Has On Customers 'and Employees' Moods

It's been proven that bright lights affect a person's mood. Seasonal affective disorder (SAD) commonly occurs in the winter or in gray, rainy climates and leads to depression. SAD is counter-used using light therapy, using a special, bright light. Although not everyone suffices from SAD, the theory of light therapy is the same. Brighter industrial lighting subconsciously helps to improve the moods of both customers and employees.

How Commercial Lighting Effects Productivity

Dim lighting encourages the body to create melatonin, a naturally occurring hormone that helps people sleep. Because of this, it's important for industrial settings like factories and plants to keep employee work stations well-lit, especially if workers are performing repetitive tasks.

A study published in the May / June 1995 issue of Solar Today found that one company, Lockheed, saved $ 500,000 a year in energy costs by upgrading its industrial lighting system. What the company did not expect was a 15% increase in employees' productivity and a 15% reduction in absenteeism. Yet another company, West Bend Mutual, increased productivity by 16%, which reducing its energy bill by 40%. In both cases, simply updating the industrial lighting saved the companies thousands of dollars in energy costs and increased productivity.

Individual employees may appreciate different brightness levels at their own work stations. When possible, employers should allow workers to customize the brightness level using individual work station dimmers or lamps.

Properly Placed Commercial Lighting Increases Sales

Savvy store and restaurant managers know that the right lighting can create sales – it's a simple fact of the retail and restaurant business. Properly placed lighting at the correct wattage can make products pop and improve the appearance. From cosmetics to clothing to food, lighting sets the ambiance and can encourage people to spend more.

Products like cosmetics and fine jewelry need to have commercial lighting that's specially tailor. Customers expect to be able to see the unique shade variations in these products in order to make an informed purchase. Clothing displays can be lighted many different ways to enhance the look of the clothing.

Restaurants need to specialize commercial lighting systems based on the type of restaurant. For instance, a family-friendly chain or fast food eatery should be better lit than a fancy restaurant that caters to couples seeking a romantic meal. Many restaurants have the interior lighting on a dimmer switch that allows the manager to dim the lights as the evening goes on. This encourages customers to spend more in cocktails, which greatly increases the restaurant's sales figures.

Commercial …

Everyone is familiar with the 3-R's from school – reading, 'riting and' rithmetic. This was our first introduction to an effective performance model. As profitability increased in each R, performance was further enhanced. Effective performance models by their very design are a continuum that automatically raises performance to the next level.

Today's businesses have their own 3-R Performance Model. This model has not really changed since the early of origins of business enterprises. No matter what the latest business guru advocates, good business practices and most importantly the "bottom-line" always appear to return to these basic 3-R's. For without Relationships, References or Revenue, today's businesses will not achieve current goals nor grow.

R1 – Relationships – With the Internet providing immediate access to unlimited vendors, products and services, today's business owners must develop sustainable and loyal relationships. Current customer service research suggests that the cost to attract a new customer or client is 10 times greater than to maintain an existing customer. Relations lead to the second R.

R2 – References – References according to recent research account for 84% of all sales. This research supports what our common sense tells us about human nature. We are more likely to believe a close friend and probably a not so close friend over the slick Madison Avenue advertising efforts. Additionally, only 1 in 26 dissatisfied clients will share their dissatisfaction with the organization, but will be more than happy to share their "bad" experience with others.

References add value to the bottom line by reducing marketing dollars. You can not "pay" for referrals. References are given free much like a friendly smile or a sincere handshake. R1 and R2 make R3.

R3 – Revenue – Without this final third "R," companies would not be in business. Revenue is the ultimate desired end result. When revenue grows, both the company and employees transition beyond survival and transform into a thriving, high performance, results driven team where everyone shares a laser focus. Successful companies and individuals actively work the 3-R's every day regardless of their yearly achievements. Complacency for these individuals is not an acceptable attitude!

If your goal is to reach that next level of success, then maybe the first step is ask yourself, do you know your 3-R's? And the second step is to begin to construct a plan to help you improve your 3-R's. …