Wednesday, 21 March 2007

Five Leadership Secrets For Challenging Times

Five Leadership Secrets for Challenging Times


by: ED SAUNDERS


We consistently face new and ever growing challenges in the workplace such as
reorganizing, downsizing, and “left out sizing.” We are faced with the question,
“How do we lead in this storm of change?” It may seem difficult at times and the
decisions we make define our short-term and long-term outcomes. I will share
with you five leadership techniques guaranteed to keep you on track during these
difficult times.

1 Integrity.

I put this first because the lack of integrity will make or break you as a
professional, as a leader, as a person in the long run. The lack of this will
turn yesterday’s heroes in today’s villains. For example, “MCI was the apple of
the business community’s eye. High revenues, high profits, and high growth; MCI
was beating the competition hands down.


Then it was discovered that there were gross accounting irregularities that
accounted for the astounding profits. You see, management made a decision, “Do I
continue to sustain good growth and be able to look at myself in the mirror or
do I cook the accounting books and spend the rest of my time covering up this
integrity deficiency? The real shame of the MCI situation was that AT&T, Sprint,
and others in the industry had to cut costs and lay off thousands of employees
to compete with MCI’s false numbers. The lack of integrity at MCI not only
affected the company but also the livelihood of thousands and the industry as a
whole.


I was recently speaking with a recently retired City Council member who is well
respected in the community. I asked her what the secret was to her success while
on the council? She mentioned that one of her political adversaries said to her,
“While you were on the council, I didn’t like the way you voted, but I respected
the way you voted because you were consistent with your votes and had the city’s
best interest in mind.”


Ask yourself what decisions that you make are right for the long term? Be
consistent in your actions, whether it is with management, your team, or your
family.

2. Knowledge.

With change happening faster and faster every moment, it is extremely important
that you gain the knowledge to master these changes. You owe it not only to
yourself, but to your team and management. As I always say, “It’s not having the
right answer, it’s that you have the right answer faster than before.” Many
times during my teambuilding programs a student will say, “I didn’t know where
to find the answer.” Then I will say, “That is an unacceptable answer.” Because
part of being a leader is acquiring the skills to find the right answers. With
the Internet, classroom and online training, mentors, etc., the knowledge is at
your fingertips.

Challenge your team members to use the same resources to acquire the knowledge
to master their challenges. By acquiring this knowledge, you will be able to
navigate your team through the ocean of change and achieve your goals.

3. Decisiveness.

You have seen them. They wait for information, then more information before
making a decision. Then they need more information to support the information
they already have.Then they need a committee to analyze the information. Then
they wait for the perfect time to make the decision.


Well, you know what I mean. Anyone you know? Make the decision! Good things
happen when you take action; you grow, you adapt, and your team grows. There is
no perfect time to make a decision. Leaders make decisions based on past
experience, putting into action the decision, and staying and adapting the
decision if needed. But make the decision. The worst quality you can show your
team is indecision. What do you think your team sees when you can’t make a
decision? Make the decision and go for it.

4. Vision.

This is the ability not only to see what is the present - anyone can do that -
it’s the ability to see the future. Outstanding leaders can not only see their
team for what they can do now, but what they can become, and paint the picture
for them. These leaders are consistently communicating and coaching their team
members to that vision. One of the best ways, and least used methods, to convey
your vision is the team meeting.

Every meeting should start out with the team vision, mission, and goals; and the
rest of the meeting should tie into the vision. For example, the motivation
portion of the meeting should tie into the vision, the information portion of
the meeting should tie into the vision, the training portion of the meeting
should tie into the vision, etc. Also, invest time to develop your team members’
personal visions and show them how they can accomplish their personal goals by
tying into the overall vision. By consistently communicating the vision, your
team will move with purpose, feel they are personally making a difference, and
achieve their goals sooner.

5. Unselfishness

Stephen Covey, in his successful book Seven Habits of Highly Effective People,
wrote that a true leader must be a servant to the ones he or she leads. The
leader must be able to “give of oneself for the good of the team.” In other
words, be unselfish in words and action. Be unselfish in praise of others, in
public, especially in front of management.

Be unselfish in the ability to take time to listen, really listen to your team’s
concerns. A recent management survey said that the average time management
invests doing “pure listening” to employees during the year is a mere two hours-
just two hours! What was meant by “pure listening” time was listening with eye
contact, acknowledgement, and not answering the phone while listening, not
speaking with another person while listening, etc. Be unselfish in the ability
to help your team. Whether it’s the ability to readily assist with a difficult
telephone call, jump in and remove road blocks for team members, or “be there”
for a team member during challenging moments. Believe me, your team will
remember those moments and excel for you.

Now I challenge you to put into action just one of the leadership techniques
I mentioned above to achieve your vision, your mission, and your goals in the
future.


Sunday, 18 March 2007

Explode Your Consulting Income

Explode Your Consulting Income


by: E.SAUNDERS

Here are just a few ways to increase and diversify your

income from your consulting business.

1. Sell More Services to Your Existing Clients

Instead of spending all that time and money trying to get

new business, why not try to sell more services to your

existing client base?

If you are an accounting and tax consulting firm, for

example, you likely have clients who need some assistance

in their record keeping and documentation. In addition to

your year-end tax services, could you provide monthly

bookkeeping and financial statements, accounting system

setups, training in accounting software, or other services

to assist your client?

Monthly services, in addition to annually billed fees, will

help you smooth out your cashflow and minimize the seasonal

nature of your business.

2. Mass Market Your Advice by Productizing Your
Services

Could you produce a folio, special report, newsletter,

e-book, book, audio cassette, video, or course? If so, you

could enjoy making money even when you're not billing for

your time. While asleep or on vacation, the sale of your

information products could be generating additional income

for you.

Sell such products through direct mail, mail order,

exporting, and Internet marketing (your own website,

your own affiliate programs, eBay auctions, and so on).

As well as the passive, residual income that information

products can produce for you, they also help establish your

credentials as an expert. This, in turn, produces more

consulting opportunities for you.

3. Perform Group Consulting

Seminars, workshops, and teleclasses enable you to help

many participants in a cost-effective manner. In addition

to paying for admission, your attendees may also purchase

some of your information products or even become your

regular consulting clients.

4. Consider Additional Markets

Could you sell your consulting services to federal, state,

provincial, or municipal governments? Could you be an

expert trial witness?

If you consult with local clients, could you extend your

reach nationally or internationally by using the telephone

and Internet?

These few ideas are a starting point for you to brainstorm

all the possibilities for exploding your consulting income.

Do You Think That Your Workoad Is Hampering Your Killer Marketing Activities?

Do you think that your workload is hampering
your killer marketing activities?


by: E.SAUNDERS

You need an extra effort not the extra workload. Today when competition is high
and consumers have many options to choose, an extra effort towards improvement
of your product, managing your customers and taking care of other aspects of
your business will give you advantage over your competition. You need to
multiply your time may be you can keep your margin low, but will give you more
volume and increase in your turnover.

Most SME’s start well during there initial stage of launching the business but
looses its consistency do to pool of workloads on its day today life. It is
often seen that hiring more employees gives extra load on limited earning
resources resulting less revenue than expected. You need to put more efforts on
Marketing and concentrate on your other activities so that you can do business
with an ease. Outsourcing is one of the solutions for small and medium business
entities too, that give them more opportunity to utilize there valuable time on
marketing and other efforts. (Provided they get an honest an able outsourcing
partner.)

Outsourcing is hiring a third party service provider to participate as a team
member in your organization and share your workload. You may need to outsource
your projects to save your time and get an expert professional to do the job for
you. It is helpful to you in terms of, managing and multiplying your time so
that you can focus on other important activities of your business needs. This is
another effective tool to stay ahead with your competitions. By sharing your
workload you get enough time to manage your business and think of its better
promotions. You can outsource many things mainly your daily business activities
i.e. accounting, document processing, Web site maintenance, Secretarial work, or
other works need manual operations as well as marketing services. Below are some
reasons to give an idea about benefits of outsourcing.

1.You save time in finding, interviewing and
selecting the new employees by hiring an agency or search for your own.

2.You save time on providing them proper training
as well as they need to adjust with your work culture too.

3.You can save your time, which you need to do all
time-consuming paperwork requires hiring a permanent employee to your
organization.

4.You do not need to buy extra equipments for your
existing setup.

5.You save cost in your daily office expenses as
well as recurring employee charges i.e. Taxes, Insurance, Medical, leave and
many more.

6.You can utilize your time in better way and can
deliver better output for your business.

7.If you are a contractor, you can hire a
subcontractor and focus on more orders.

8.If you are marketing professional you can double
your marketing efforts and can have a wider reach.

9.You will be giving the extra efforts, which all
are needed in present competition, to develop your business and getting more
volume of works.

10.You will be getting a professional who has
expertise in his own field and can deliver you better output.

There are many more reasons why you need to outsource your projects. Today time
management is an important aspect of your business. There are many instance of
SME’s growing to a large business houses simply multiplying there existing time.

Do You Need Accounting Software For Your Small Business?

Do You Need Accounting Software For Your Small
Business?


by: E.SAUNDERS

If you’re anything like me then you dislike with a vengeance doing your accounts
and taxes.

So how can you make this process easier, less painful and cut your accountancy
fees?

Well buying an accounting software package is one way.

First of all you need to decide whether you are going to keep your accounting
records manually, that is using pen and paper, or whether you are going to
computerize the process.

If you decide that computerizing the process is the way to go then you need to
decide whether to buy an accounting software package, for example Sage or
Quicken, or whether a spreadsheet, such as Microsoft Excel will suit your needs
better.


As a general rule if you are a cash business that just
needs to record income and expenditure then you are better off using a
spreadsheet.


So, should you choose an accounting software package? Yes if:

· You have customers to whom you extend credit and you buy goods in the same way


· You process in excess of 50 transactions per month

· Your business is an Incorporated Company (Limited Company in the UK)

and

· You are computer literate or are willing to learn!

Before choosing the accounting software, speak to your accountants – they will
be familiar with the various accounting software packages on the market and will
be able to advise you. Most accountants use software in their office to process
the bookkeeping for their clients and will have a working knowledge of the
accounting software package they use. It may be cheaper for you to use the same
one they do, because they can advise you how to get it up and running and will
be on hand to answer questions, plus at your financial year end when your
accounts need preparing it will be less expensive, believe me to have a
compatible program.


I also recommend doing some research yourself, you may be
able to obtain a demonstration disk or download of the most popular accounting
software packages and this will give you an idea of how they work and if they
are user-friendly.

The cost may also be an issue, so you need to decide on your budget. But
consider how your business is likely to expand - you may outgrow that budget
accounting software quickly and end up buying the more expensive one anyway.

Accounting software providers may also try and up-sell you a maintenance
contract. Save your money! In my experience the established software providers
will not have bugs in their systems. They will also try and upgrade you to the
next version on a regular basis, but if the software is doing everything you
need then there is no need to upgrade.

Of course, you could also pay someone to do your accounts for you, either your
accountant or a bookkeeper – the payoff being you don’t have to do it yourself
and it frees you up to actually run your business!

Company/Employee Handbook As Organisational Improvement Tool

Company/Employee Handbook as Organisational
Improvement Tool


by: E.SAUNDERS

A business is only able to grow as fast as the internal organisation is able to
process higher volumes of sales. But how to get an optimal internal
organisation? Well, you will need to adapt your internal organisation over and
over again. It’s a never ending story. However, a Company/Employee Handbook
could assist you to achieve the best internal business organisation.

This brings up the question, What has to be included in a Company/Employee
Handbook? Everything what has influence to your business operation. First of
all, it has to be outlined which areas the Company/Employee Handbook will cover.
As it has to do with internal operation, here is a list of items you should
include:

- Company Background Information (Name-Development, Foundation date and place,
History-Milestones, Vision)

- Owner and/or Manager Bios/Profiles

- Listing of Officers and Board of Directors

- Employment Roles (Job Roles, Job Descriptions)

- Description of the main products and services (just use your marketing
material)

- FAQ (about internal subjects only)

- Company timeline (What, when, where)

- Office procedures (Workflow-Information, Working Procedures)

- List of persons to know (Bank Contact, Tax Advisor, Laywer, Main Suppliers,
etc.)

- Overview of agreements (Rental, Leasing, etc.)

- Internal Policies (Dress code, Phone usage and answering, Voice Mail
Procedure, Parking,

Business Cards, Drug Policy, etc.).

The above list shows which information should be included.

The following list
shows which departments should be included:


- Distribution

- Inventory/Warehouse

- Marketing (How Follow-up’s are handled, Lead-Generation, etc.)

- Customer Support

- Research and Development

- Accounting

- Human Resources

- Purchase/Procurement.

The above two lists just show, how complex it could be to setup a
Company/Employee Handbook. But it don’t have to be complex, just start partial.
Only include the information which are already available and use the help of
your employees. The benefits of having a Company Handbook are numerous, your
employees will save time, it will be easier to improve procedures, because the
procedures will be broken down into small sections of the whole precodures.
Everything is clearly described, so nobody needs to ask over and over again. In
case of holiday or illness of an employee, others could jump into the job,
because they could be trained faster.

As employer, you could hire employees with lower education. And your employees
will love it, because they know where to look, when they have questions and they
could improve their working environment as well. But the most advantage for the
owner is, that the organisation will be able to work properly, when the business
grows and when the owner might sell the business one day, it might get sold
easier, because of the proper organisation.

When installing a Company Handbook, you will find procedures you could automate.
Automating the operation as much as possible will also be a big benefit, because
employees and employer are able to focus their workforce on more important
topics, such as improving the sales volume. Furthermore automatization will
reduce to cost of operation as well.

A Company/Employee Handbook is a bit like a Business Plan, but far more
detailed, because it will contain information on every internal procedure. Only
the financial part of the business plan will not be included, but if you like
you might include some financial information you like to share with your
employees. As you describe your procedures just do it as a numeration or
listing. The description don’t have to be very well formed, it’s just important
that everyone who will read it, is able to understand what has to be done.

Remember, a Company Handbook is a living system, if you and your employees are
not updating it regularly, it will be death one day, because it will only
contain old stuff. So keep all people within your business engaged in improving
the Company Handbook, because it will improve your business internal
organisation as well. While starting to write the content of your Company
Handbook, concentrate on job roles at first, afterwards write down job
descriptions, in case a job role has been given to employees twice (Accounting
Staff, etc.). Job Roles need to include the duties and the responsebilities of
the described job.

Job Roles, Job Descriptions and Workflow-Descriptions of special procedures
don’t have to be the same, but take care that the information is consistent,
that means that it is written in a stream. This way the entire Company Handbook
will be of benefit for everyone. When rereading something on your Company
Handbook and you still have questions, than the entry is not finished.

Last but not least, your Company/Employee Handbook should be available everytime.
To do this, think about an Internet or Intranet Solution, depending on the size
of your business. Keep it simple and slim, and you will have many benefits from
it. Good Luck.

Choosing A Business Tax Service

Choosing A Business Tax Service

by: E.SAUNDERS

There are a number of ways that you can find tax services companies. The yellow
pages is a good place to start for companies in your area but, depending on
where you live, the list of names may be extremely long. It is a good idea to
ask your friends, colleagues and business partners to recommend the tax services
that they have found helpful and efficient in the past. Then you can call the
tax services professionals that you have on your list and discuss your
requirements.

The first step in finding the best tax services for your needs is deciding what
level of help you require. Perhaps you simply need someone who can file a simple
tax return but has to wade through your slightly disorganised accounting
documents, or maybe you have a number of employees and need

assistance sorting out their tax withholdings or you may even want all of these
tax services, and more. The size of the tax services company may also be an
issue. You may want one person to be able to perform all of your tax work,
especially if you are only a small business owner or you may want a team of tax
professionals and you want to find tax services that have a number of
specialists available. Once you have identified the type of tax services then
you can begin your search more easily. Your available tax services budget is
obviously going to be an issue but you should try to allocate as much money as
possible to ensure that you can afford the best possible tax services. Remember
that you can incur heavy fines if you have incorrectly filed your tax return or
are late paying any type of tax that your business is liable for.

Apart from professional qualifications and references one of the most important
points to consider when assessing which of the tax services companies you want
to use is whether you feel comfortable with the person you are dealing with. At
the end of the day you are going to trust them with your financial records and
it is essential that you feel that you can depend upon the person.

Every business, at some time, needs the help of some type of tax services at
some stage. Large organisations usually have their own tax services department
with accountants and tax lawyers but small companies often have to hire tax
services on a regular basis to help keep their tax returns and other issues in
order. It is important to know how to find the best tax services, no matter what
type of business you are involved with.

Business Laws - The Basics

Business Laws - The Basics

by: E.SAUNDERS

A professional degree in Juris Doctor relates to a higher grade of studies in
law. With business houses expanding in size and the legal issues gaining higher
importance for day to day working of large corporates, demand for Juris Doctor
professionals has been increasing. As the business interacts more with the
society and their other counterparts need to resolve legal matters emerge
simultaneously. All this has given an impetus to students aiming for career in accounting.
law field. But a purely law background without any corporate experience may not
be well accepted by business industry. Top ranked services in companies also
demand a graduate in business organization along with lawyer’s degree.

As demand for combined degree in JD and business is being a preferred
combination to build a rewarding career in law. Business and law schools at
various places have joined hands to impart students with best career courses. At
many places Law Schools providing degrees of Juris Doctor and business school
providing Master in business administration present a cooperative program for
the convenience of aspiring students. This opportunity to avail concurrent
degrees in both fields is a stepping-stone for success of students. Students who
cannot travel to different places at the same time have a best prospect of
finding excellent professional training under one roof.

Surviving in the law field gets tougher from the day one tries to enter the
school of law. Getting admission requires fulfilling entire formalities along
with earlier creditable basic high school record, clearing the admission test
for the law school and even recommendations from people. The same is applicable
for business studies a student is required to prove his quantitative skills and
efficiency in microcomputers to get admitted. A dedicated and hard work during
the courses ensures students with excellent results which in turn to provide
better career opportunities.

A law person has various prospects for different types of career that he would
like to accept. Depending on his caliber and willingness to work hard a lawyer
can decide upon practicing law in an exclusive law firm or he may choose to be
an in house lawyer. An exclusive law firm requires an extensive knowledge of one
particular area in law where as an in house lawyer is required to deal with
entire aspects of legal issues that relate to the particular company in which he
is involved.

While undergoing training in one of the law schools a student would learn about
different aspects of law like civil law, criminal procedures, constitutional
law, contracts, property, professional responsibility, basic federal income
taxation, legislative and administrative interpretation and many others. The
syllabus is cautiously devised to ensure that students receive exhaustive
training to deal with maximum situation in the professional front. Similarly
Masters Degree in Business administration imparts education in business for
global society, corporate finance, managerial accounting, information resource
management, strategic management, master’s project and other similar relevant
courses. Anyone pursuing both law and business studies simultaneously has an
advantage of studying some courses that are counted towards both degrees and
hence a considerable amount of work is reduced for these students.

Accounting - The Complete Guide 2007 Headline Animator