Having a brilliant business sense and running a successful business do not necessarily intersect each other. While one may be a gifted businessman or a businesswoman, yet when it comes to actually managing and running the business affairs, talent alone is not sufficient. You need some guidance and useful advice that can catapult you from a good business thinker to a successful entrepreneur.

In this regard, magazines, like Entrepreneur, play a pivotal role in shaping your mind towards greater business success. The critics may argue that the hard real world is much tougher to handle than reading about it in books, magazines and journals. To an extent, this argument holds water. There is no substitute to experience. Unless one experiences a success or failure, one can’t really appreciate either of these. However, if you can learn from the experiences of others, i.e., without resorting to trial and error method and risking failure, nothing like it.

This is precisely what you can do with magazines, such as Entrepreneur magazine. With articles, features, tips, advices, and write-ups from top-notch industrialists and managers, you are literally in for a treat. The size of your business doesn’t matter. The amount of capital invested doesn’t matter. Whether you are a start-up company or an established entrepreneur, it doesn’t really matter. Everyone, who is even remotely connected with business, will find such magazines extremely informative and helpful in avoiding failure on multiple fronts.

Apart from covering latest business news from around the world, these magazines delve into little known territories, like business and franchise opportunities. You don’t need to subscribe a separate magazine for latest business opportunities. Entrepreneur magazines cover these aspects in great details. The best part is that with Internet evolving at a rapid pace, a lot of these magazines are putting their issues online for anytime reading. For instance, Entrepreneur Magazine is one such publication that has tried to bridge the print-online barrier with a comprehensive website.

If price factor is what’s bothering you from subscribing to one of these Entrepreneur magazines, then here’s some good news. Most of these magazines are available for subscription at heavy discounts on the Internet. As much as 80% savings can be easily made just by logging on one of the trusted magazine websites, and subscribing your favorite Entrepreneur magazine.

Every small business has to the potential to grow and expand. This is every business owners’ dream
come true. Sometimes, small businesses need a sense of direction or advice from sources more experienced than them. When looking for small business tips, you can always get some from experienced entrepreneurs. These are individuals who have been in business for a long time and have managed to overcome many challenges.

Small business forums are another excellent choice when you need small business tips. You get to socialize and exchange ideas with other business owners. If you have a question, there are people willing to help and give you answers. You also get to know other individuals who are in a similar business as you are. They can give you support if your business is going through some challenges and even help you overcome them. Everyone has their own definition of small business tips. You have to learn to differentiate what can work for your business and what may not apply.

However, there are general business tips that many successful businesses have used over the years. When you are starting or already have a small business in existence, one thing that is a requirement is that you have to know yourself, your product or service and your business. Have a clear vision and direction. You have to know how to merge your strengths with your target market. Knowledge of your product or service is an assurance to the customer that you have confidence in whatever you are doing.

The mechanics of running the business should be at your fingertips. If for example all your employees were to go on strike, you have to be able to do and manage what they are employed to do. You have to know your business in and out. Keep an open mind and learn how to use technology for the advancement of your business. In addition be consistent, honest and always do exceptional work.

Whichever way you plan to invest, this section will give you some tips and techniques to get you started

Understand why you are investing.

One of the keys to successful investing is identifying your investment goals, and the time frame over which you will invest. What do you want to do with your money?

Do you want to save for a goal? Do you want to invest a certain amount? How long do you want to put that money away for?

Your goals and time frame

When investing money, many people have a specific goal in mind. If this is the case for you, you need to decide what time frame is attached to that goal — short term, medium term or long term?

Short term (1–3 years) deposit on a home overseas holiday new car starting a family Medium term (3–7 years) boat house renovations Long term (7+ years) children’s education deposit on a holiday house retirement

Rather than having a particular investment goal, some people may just want to invest a sum of money, for example, an inheritance. If you are in this situation, you need to decide what you want from that money. Do you want to use the money in the next year or two? (in which case you are a short-term investor).

Or do you want a regular income? Or do you want it to achieve capital growth over the long term?

A short-term investor would be more likely to choose a more conservative investment like cash, to ensure that their capital is available in the next one to three years when they need to access it. A long-term investor would be more willing to invest in growth assets such as shares, as they do not need to access their capital for at least five years, so are usually less concerned about short-term ups and downs. They recognise that the potential returns are higher in growth investments, and if they are held over the long term the risk associated with short-term volatility is reduced.

Don’t forget that superannuation is one of the most tax-effective ways to invest for the long term. If you would like more information on superannuation, contact your financial adviser.

In considering which type of investment is most suitable for your goals, a professional financial adviser can help you with this decision after analysing your investment objectives, particular needs and financial situation.

2. Become an investor instead of a saver.

Many people invest but only some become wealthy. Why? The mistake many people make when investing is that they treat their investment as saving. So what is the difference between saving and investing? Saving is what you do to build up funds for something, like a holiday, and when you have the amount saved, you withdraw your capital from your investment and spend it.

Investing is different. People who want to build wealth invest their money for the long term in growth assets, such as shares and property. Their strategy is to spend the income that the investment produces, but leave the capital invested. They don’t withdraw the capital, so it stays there to grow, which in turn allows more income to be produced.

If you do this it will take you a while longer initially to get to your investment goal, but in the long run you will find that the extra wait has been worth it. As the years go by, you may have an increasing additional income stream from your investments and your standard of living can rise accordingly.

So what’s the secret to becoming wealthier? It’s easy! Start investing, and stay invested.

Other Tips to Remember…

Start early and take advantage of compound interest.

There is always a ‘good’ reason for not investing, but there is actually an even better reason to start investing right away. In fact, starting sooner rather than later is one of the best investment decisions you can make. The reason? So you can take advantage of compand interest. The problem is that compound interest works against those who hesitate. Most of us studied compound interest at school, so we know how it works. But it’s not until you start looking at practical examples that you realise how powerful it can be.

Use market movement to your advantage.

Dollar cost averaging – One way to ride out the market’s ups and downs is a technique called dollar cost averaging, typically used in managed funds. With dollar cost averaging, you don’t have to focus on where share prices or interest rates are headed. You simply invest a set amount of money on a regular basis. Dollar cost averaging is an investment technique that can help turn the odds in your favour. The idea is that you buy less units when the market is up, and more units when it is down — automatically.

Don’t try to time the market.

One of the excuses many use for not investing is that it is not the right time to invest. These people are likely to be under the misconception that they have the magical powers to be able to predict the future. They are under the illusion that the path to riches is a matter of getting on the right horse at the right time.

However, as investors begin to learn the vagaries of markets, they begin to realise the insurmountable difficulty in picking market movements. Trying to pick the magnitude and direction of market movements has cost even the most experienced investor dearly. Don’t chase returns.

Investing in the fund that had the best performance last year may be a big mistake! Most fund managers will offer you a choice of many different types of managed funds, from shares and property to fixed interest and cash, to mixtures of all of them. There are also usually a range of different share funds investing in different parts of the world. Given such a wide choice of investments, and the ability to switch your investments between them for little or no fees, some people make the mistake of chasing returns.

Chasing returns means that you are moving your investments across to the fund that had the best performance last year. Why can this be a mistake?

We often hear the advantages of using business credit cards for business.  But the benefits you earn also depend on how well you use them.  This article contains useful business credit card tips that are especially meant for business owners like you:

1.    Apply from your personal bank. Getting a business credit card from your personal bank can give you a faster approval with your application.  If you haven’t yet established your business credit, your personal credit history will be used instead.  Applying with bank who has had you as client for a long time will work well in your favor.

2.    Don’t get too many business credit cards. One or two should be enough for you to use with your business.  Not only does managing multiple credit cards difficult, it also puts you at a greater risk of bad credit.

3.    Use your business credit card for all your business expenses. Some entrepreneurs use their personal credit cards with their business purchases but it is wise to stick with your business credit card instead.  Even if you’re running a homebased business, it’s best to separate your personal finances from your business account.  In addition, your business statement of accounts will be a big help in doing your accounting tasks and in filing your taxes.

4.    Use your yearly summary as reference to your bookkeeping. The yearly summary of account provided by your credit card issuer will come in handy in your bookkeeping tasks.  

5.    Use your business credit card wisely. Just because you have a business credit card on hand doesn’t mean you shouldn’t watch on your spending.  Make sure that everything you charge on your business credit card is really important for your business.

6.    Make the most of your rewards. Take advantage of the rewards you can get from your business credit card by choosing a card with the right reward program.  Make sure that the business credit card you’ll get matches with the needs of your business.

7.    Distribute supplementary cards to your employees. Because all purchases charged to your business credit card will be reflected in your statement of account, you’ll have more control on your employee’s expenses.

8.    Pay off your bills before the grace period. Usually, a business credit card will extend up to a 21-day grace period before you incur the interest rate.  To save your finances, make it a point to submit your payment before you date to avoid the interest rate completely.

9.     Check your business account regularly. Always check your business account for accuracy and make sure that all the charges are accurate.  Generally, business credit cards provide business owners an online access to their accounts so you can check them right from your desk.

10.    Avoid cash advances from your business credit card. Cash advances are not covered by the grace period so you instantly incur the interest rate the moment you take out the cash.  You might as well charge it to your account and pay it back before your due date of payment.

Investments in 2007 will be your opportunity to make significant gains in your financial portfolio. Taking control early in your investment planning will maximize your returns and you’ll create groundwork that will allow you to establish investing guidelines for all future investing as well.

Investing is all about placing your best researched intuitions where you feel comfortable about what will take place regardless of the expectations of others or the status of the nation’s economy. Money is made daily and if you place your investments wisely, determines if you are in fact, master of your investments.

There are some misconceptions of what type of investments are the best to follow. If you do not have any real insights on the stock market, don’t jump in with a large percentage of your investing capital. The keys to success are about learning as much as anything and never replaying a bad strategy.

History, self made history, is or should be your best friend for all your future investments. It’s not a perfect world and neither are you, so put aside any thoughts that you can maximize every trade or other investment, make your moves slowly and consistent.

Let’s say you are new to investing, you can take advantage of several courses or mini-trade routes, outlined by someone who’s found consistent patterns that produce successful trades. Investing can be in a totally unexpected direction, such as applying yourself in online sales from an affiliate program. This is a very popular investment since it takes very little money to get started and you have a ready-made product already established. The commission split to you is very appealing. There are a number of programs that pay as much as 75% to you.

Investment Planning is really as simple as, where you think you can actively participate with your money and or time, that will yield you a positive return on your participation.

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1. – Know your talents, what are you good at, then think of ways to make it pay you for your efforts

2. – How much time can you devote to your investment, this is where you don’t want to become sidetracked and lose sight of your goals

3. – Invest your time or money where you understand the risks and won’t become shocked or surprised if it develops a slump or setback

4. – Choose an investment that you enjoy, this makes investing a pleasure and this will give you drive above all other distractions

5. – Make predictions or goals that can be obtained in the short term, don’t set yourself up to finish the year before you’ve made your shorter range goals. Life is about living, not retiring.

6. – Read about the previous years wins and losses, in the field of your investment plans and see where to make small changes that could correct for the losses and avoid pitfalls that history provides

7. – Consider forming a team of investors, family, friends, or co-workers who are serious about taking control of their financial futures.

8. – Put all your financial plans in writing and keep them at arms reach at all times. It’s very wise to make notes as you have certain thoughts from day to day and reflect, then decide if you need to make adjustments. Don’t become overwhelmed with the ” I should have done . . .” thinking process. This will make you miserable and you can loose focus very easily.

9. – Track your progress and determine if you should increase your investment of money, time, or both in order to see a positive return on your investment. This is not always easy to decide, but you are the controls of your investment, don’t let yourself down.

10.- Find a mentor that can advise and encourage you to continue, seldom will you find a success story that didn’t have contributors, regardless of their role in the success story. You may be pleasantly surprised how much others can actually affect your investments in a positive manner.

Summary. Small-medium businesses have unique characteristics that require special responses. They are not underdeveloped big businesses. This is particularly so in people management. If employees don’t respect each other’s work and contribution, you’ll have “people problems”.

1. Compatibility Is Vital. You don’t want clones of you. But you do want people you can get on with both personally and professionally. You can’t escape from them or they from you.

2. People You Trust Absolutely. Even though you may own your small-medium business, you simply can’t do everything yourself. You have to give others responsibility and accountability. If you don’t have staff you trust, your business will stagnate.

3. Flexibility and Adaptability. You’ll employ people because they bring specialist skills to you. But they must be prepared to “fill-in” and “help out” in areas outside their speciality.

4. On Job Training. I happen to believe that the most effective training occurs on the job. This is particularly true in small business. Your people need to understand that they’ll learn new things by doing them. Avoid people who want to go to “courses” to learn.

5. Limited Opportunities. You can’t offer long term careers. Recognise that valued employees may leave for “greener pastures”. To limit the damage, introduce incentive and reward schemes including profit share if possible.

6. Systematize, Systematize, Systematize … “There are few poor people, but lots of lousy systems” so the saying goes. Do your best to introduce systems that make it impossible for your people to fail. Good systems reduce stress, increase self esteem and build confidence in all who use them. They improve profitability too.

7. Openness and Information. Keep your staff informed. If you don’t, rumours will develop to replace fact. Ensure your staff know what you and they are trying to achieve and how well you’re progressing. There’s no need to reveal the most secret parts of your business. But your staff are all close to your business. They deserve to know.

8. Sensitivity. Staff will have personal problems. Occasionally these problems will affect how they do their jobs. Show concern. See if you can help without “playing favourites”. Other staff will judge you harshly if you seem cold and unfeeling.

9. Develop a Sound Network. You need other business managers you can talk to and exchange ideas with. This is important for general business ideas and especially so for sound business management.

10. You’re The Role Model. That’s the fact. Because your business is small you can’t escape scrutiny. They’ll do what you do, not what you say. They’ll treat customers the way you do; not how you say they should be treated. This applies to all aspects of your behaviour.

Conclusion. There’s little room for textbook management in small business. The people management textbooks are written for managers in big business, not for small business managers desperate to grow their business and make a worthwhile living. Sound people management helps a lot.

Investing requires market exposure, education, and vigilance. But during tough economic times, it may require additional flexibility and adaptability on the part of the investor. Although investment goals can vary from one person to another, there are general techniques that can work for almost any type of investor. Below are some tips that will help you weather the economic crisis:

Look into Evergreen Investment Options

What are the industries that are likely to outlive the crisis? Do these companies produce products or provide services that are needed during good times and bad? The evergreen industries typically show historical success, present adaptability, and future potential.

Some renowned evergreen industries include consumer goods companies, energy companies, and those involved in health and wellness. Identifying the industry you want to invest in is simply the first step. You also need to look into the different companies, their previous performance, their management, and even their organizational culture.

Put More Money into Emergency Savings

The importance of putting money into emergency funds cannot be stressed enough. Most financial planners agree that this should be prioritized over other types of investing. This is because without some money to fall back on, you are putting your future and portfolio at risk. For example, if you don’t have liquidity, you might be forced to sell certain investments at a bad period.

Pay Off Outstanding Debts

During bad times, it is recommended for you to pay off debts as soon as you can. Investing in real estate, bonds, and stocks do not make sense when you have debts during the market is down. The reason behind this is simple, the interest payment on your debts are likely to be higher compared to the yields you receive on your investments.

Check the Viability of Investing in Entertainment Stock

Consumers have a tendency to cut back during an economic crisis. Yet, it is still a fact that they need to spend. Though they may cut back on expensive entertainment options, they will look for alternatives including movie rentals, online shopping, and budget travel. Putting your money into companies that offer these products and services can produce above-average yields on the short and medium term.

Despite today’s economic problems, it is still possible to make money from investing. In fact, some investors even prosper during harsh conditions. One of the keys to success is to look for the right investment vehicle and tread cautiously.

If you want business credit in any area, including Ecorse, Michigan, you need to understand a few points:

a. personal versus business credit – what\’s the difference

b. the best way to pick your business name and your legal entity structure

c. understand the importance of your business address in Ecorse, Michigan

d. repeat applications for businesses credit lines can really hurt your FICO scores

A new Ecorse business

Maybe you\’ve got a great new business idea for the Ecorse area that you want to take to the next level, but you don\’t have access to extra funds or company credit cards. Or perhaps your own personal credit is so awful that financial institutions won\’t lend to you. Your immediate goals should include the following:

- improve your personal credit scores

- start to build your business profile the right way

- apply for small business credit cards from vendors in Ecorse like Home Depot

- apply for a couple unsecured business loans without any personal guarantees

- obtain some unsecured lines of credit to get the working capital

I know that you might think that\’s easier said than done, well what counts is that you really comprehend what it means to have a business profile. Once you\’ve established a business credit profile, personal guarantees won\’t be asked for any longer. When you apply for credit with a local company in Ecorse, you will have built up a business reputation that is easy to prove.

Meanwhile, it is critical that your show a “positive” personal credit profile rather than a negative one because in the beginning, you will need to use personal guarantees when applying.

The greatest way to get any type of funding for your business, any business credit lines, or any business startup loans for your business in Ecorse is to learn from the experts exactly how to do this the easy way. It doesn\’t matter if you are in Macomb County, Keego Harbor, Oakland Township, or Redford Township the procedures are still the same.

This article was written by Susan Carter, author of the new eBook “Basics of Business Credit” that can be purchased on http://www.susansbooks.com. Susan is giving away – to the first 800 people who buy her eBook – a Free Credit Restoration Guide, so don\’t wait – ACT RIGHT NOW.

What type are you? If you are Type #1, and want to move to the other category, then you have come to the right place. There are several specific steps to building your “business” credit so that you can become creditworthy enough to apply to lending and financial institutions for business credit.

If you want business credit in any area, including Troy, Michigan, you need to understand a few points:

a. personal credit and business credit – what\’s the difference

b. choosing the right business name and best legal entity structure

c. the importance of your business address in Troy, Michigan

d. multiple applications for businesses credit lines can hurt your FICO scores

A new Troy business

Maybe you\’ve got a great new business idea for the Troy area that you want to take to the next level, but you don\’t have ready access to extra funds or business credit cards. Or perhaps your personal credit is so poor that financial institutions won\’t lend to you. Your immediate goals should include the following:

- improve your personal credit and build your business creditworthiness

- apply for small business credit cards from vendors in Troy

- apply for unsecured business loans without personal guarantees

- obtain unsecured lines of credit and get the working capital that you need

I know that you might say to yourself, “that\’s easier said than done”. Well, what counts is that you understand what it means to be business creditworthy. Once you have an established business credit profile, personal guarantees will no longer be needed. When you apply for credit with a local company in Troy, you will have built up a business reputation that is easy to document.

Meanwhile, it is critical that your personal credit reports show a “positive” picture of you because in the beginning, you may need to use personal guarantees.

The best way to get any type of vendor credit, company credit, business credit line, business startup loans, vendor credit cards, and other financial resources for your business in Troy is to learn from the experts exactly how to do this. It also doesn\’t matter if you are in Macomb County, Oakland County,

Washtenaw County, or Clinton County, the process is still the same.

This article was written by Susan Carter, author of the new eBook “Basics of Business Credit” that can be purchased on http://www.susansbooks.com. Susan is now giving away – to the first 400 people who buy her book – a Free Credit Restoration Guide, so don\’t wait – ACT RIGHT NOW.