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Business Law – What Is Outsourcing?

Outsourcing is the process of contracting with a third party and is often called sub-servicing. This contracting is usually performed in-house to an external provider. Therefore two companies will enter into a contractual agreement generally involving an exchange of services and payment. One problem that has arisen in business today is the ability for companies to outsource to supplies outside the United Kingdom which is commonly referred to as offshoring or offshore outsourcing. There are also other words relating to outsourcing such as strategic outsourcing, nearshoring and multisourcing.
Companies usually get involved with outsourcing when wanting to have the benefits of certain things or address specific issues that may arise. Cost savings which is the decreasing of costs of services to the company can be done through offshoring. This involves outlining quality levels, re-negotiation, lowering the scope, cost re-structuring and re-pricing. Often companies outsource their IT support to specific companies that are experts in IT services, which shows the focus on core business. Outsourcing helps with cost restructuring which changes can offer a move from fixed costs to variable costs which makes variable costs more foreseeable. It can improve quality of service through contracting out the service the company has provided and as well improves knowledge through access to intellectual property, and wider experience.
Outsourcing enables a company to focus on what the company specialises in, become more cost effective, be flexible and manage and maintain the growth of the company sufficiently. It enables the company to gain access to other companies technologies and expertise. If outsourcing is managed productively, it can really assist a company to reduce costs and develop effective ways of using knowledge and resources from other companies. However, a company must think about whether the advantages of outsourcing will outweigh the costs of the outsourcing process. It is important that the outsourcing process is properly managed and monitored and that anything done to the company will reflect directly on the company.
Outsourcing is very common now for companies outsourcing non-strategic or complex tasks to enable admission to the best practices and new technology. Outsourcing will mean that the company will benefit from businesses economies of scale and investment in expert employees whilst still concentrating on specific business activities. Outsourcing endeavour such as payroll, secretarial services and recruitment will give a business entry to specific skills, but will only be paid for when you need to use these services. You could even outsource for non-business tasks such as catering and cleaning.…

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Time For Little Guys to Win and America to Profit!

Today is a time of great business opportunity. no other time since the beginning of the industrial revolution have individuals been offered so great opportunity to pursue independent business opportunities.
I can hear what you might be thinking, “Are you absolutely insane? I don’t know what planet you live on, but here on Earth in the United States we’re experiencing the worst recession since the 1930’s. We have 10% unemployment (17% if you calculate those who have stopped looking for a job or taken involuntary, early retirement). We have historically high business failures and mortgage defaults. Every day we hear about people right in our own neighborhoods losing their jobs and their homes. So what opportunity are you talking about opportunity mister? The opportunity to go broke?”
No, I’m not nuts or delusional. The opportunity to start your own business is real and it’s never been less expensive to do so. I believe America’s future lies in small, decentralized businesses involved in a variety of markets. The opportunities include a wide range of professional skills and specializations. To take advantage of these, all that’s needed is a PC, a telephone, and Internet access. You can run your business from anywhere, in the comfort of your home to your local coffee shop. The potential market is huge and for the first time ever, businesses as small as one-person operations can participate in global commerce.
Virtually anything you can do in an office job, you can do online. Consulting work of every type as well as most forms of sales, teaching, tutoring, counseling, advising, accounting, representing, marketing, engineering, writing, research, legal work, and retailing can be done either online in a home-based or in a small business office. All that’s required is imagination, courage, positive foresight, and the willingness to risk some time and energy on a new, unproven venture.
Despite what the pundits think, I believe America is bankrupt only in terms of the loss of our “can do” attitudes, our pioneering spirit, and the ability to imagine a bigger, better future. Many of us seem to be stuck waiting for a rescue. We’re waiting for our economy to magically improve. We’re waiting for the government, Wall Street, big business, or the housing market to lead us out of our economic malaise. The solution, however, does not lie elsewhere. The solution is in our own hands.
All we need to do is change our attitudes. We need to stop waiting to be rescued and instead we need to begin a proactive search for our own unique opportunities to flourish. If you don’t have a business, start one this year. Even if you are working a full time job, think about what you can do part-time during your time off.
Instead of worrying about your job and future, do something TODAY that can supplement you present income and perhaps may become your big opportunity. Nothing you can do? HOG WASH… you’re just not thinking hard enough! Think of all the possibilities. Think in terms of your knowledge and experience. Think about how your hobbies and pastimes may be offer potential business opportunities.
If you are already in business for yourself, consider extensions of your current products or service offerings. I run a sales and marketing consultancy. My primary business is ad and exhibit sales representation. The future is in electronic marketing, so I have started the process of educating myself on new the media and electronic marketing. I have acquired a new client that produces iPod and Webcasts and will be selling sponsorships for them starting in just a few weeks.
Although extensions of your present business are probably the best sources for expansion, you can also start an entirely new business based on your hobbies or interests. For example, a CPA friend of mine started an online energy drink and supplementary food business for cross country bicyclists and runners. He started the business purely by chance.
My friend Bill is an avid cross-country bicyclist. He and fellow cyclists regularly go on 100 to 500 mile treks. These grueling rides demand high levels of stamina and energy. Bill found a number of energy bars and drinks that are helpful. However, they are sold in very few specialty stores that are not close by.
He sought alternative online suppliers. The online suppliers also offered additional products also not available in stores. Bill purchased them and shared them with fellow cyclists and other friends involved in aerobic sports. Friends began to ask him to buy these products for them as well. This triggered the idea to start an online sports energy food business. He has been doing this business for more than five years and although he doesn’t make enough to quit his day job, he certainly earns nice supplemental income.
I have another …

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6 Truths About Starting a Business Online (or Any Business)

You’ve arrived on this page as you want to know everything about starting a business online.
However, the internet is full of people who want you to spend money on products that don’t get you anywhere. They promise you the earth, but they don’t even bring you back a dime. These sellers seem to want to keep people busy but without any reward for their hard work.
There are some scammers out there that will do anything they can to get your money. They will fill you with all kinds of ideas about making a million pounds by the end of the day.
It’s time to look at a few truths on starting a successful business online:
Truth #1 ‘Free lunches’ aren’t Free!
Every business is going to cost you some sort of financial investment. When you’re getting started it’s very important to spend initial money very wisely. There are plenty of ‘gurus’ who claim that they can help you do this and that. They usually arrive with an expensive sports car, but can often come in other guises and do a lot of exotic travel. They give the impression that they haven’t had to put any effort into making millions of dollars.
Well, let me tell you that the truth is very different from that. Every successful business takes time to work. It’s not easy, you have to put time in when you don’t really feel like it and you’d rather be doing something else. But that’s just the price that has to be paid to make a good living, have fun, feel rewarded and inspired. As an entrepreneur you don’t have a glass ceiling on the amount of money that you can make, the only limit is organising your time and effort so that it’s spent on the right things.
Truth #2 Leverage is essential
If you’re wondering what leverage is – it’s getting everything and everybody optimised for maximum output. When resources and people work together, it’s a lot easier to get better results than if you had one person doing it all.
Imagine, you are giving your house a makeover. If you had four people working on it instead of one, you’d be speeding along and making good progress. With 10 people on the job it would be done pretty fast indeed. That is why leverage is essential.
Truth #3 Friends and Family Don’t Understand Your Job
In today’s economy, it’s rare to find somebody who lasts for 10 years in the same job. Our parents may have witnessed situations where people have had the same job for 40 years, but it’s just not like that anymore.
These days you don’t have to think traditionally – ever read the ‘4 Hour Week’ by Timothy Ferriss? It turns any traditional thinking on it’s head. You really can create your business to fit with your life, not the other way around.
Truth #4: Rome Was Not Built In A Day
In exactly the same way, you won’t have a million dollar or even thousand dollar business in a matter of days. You need to have patience to keep working on the same business to give it time to grow. Some people jump ship to early and spend all their time preparing to make money but never actually make any.
Truth #5: Spend As Much Time On Your Business As You Would With Any Day Job
Treating your business like a sideline or a hobby isn’t going to work. It won’t grow very fast, if at all. You need to work the business just as you would a career. You need to set performance goals, network, balance your time and work hard to get ahead.
Truth #6: Multiple Income Streams Are Essential
By setting up multiple income streams, you’ll be insuring yourself against any changes. Nobody should put all their eggs in one basket when it comes to income. Google regularly change their search engine algorithms. If you business is set up to depend on something that you have no control over, you could end up in financial trouble.
What are you waiting for? Let’s get going……

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Why the Lifestyle of an Entrepreneur Is No Longer a Lonely Road

In a recent article written by Marty Zwilling (Entrepreneur: Challenge Yourself Before You Invest), he discussed several risks of starting a business. One of the risks he stated was: “Being a startup founder is not a job, but a lifestyle, getting married versus staying single. In fact, it’s more like being single, since founders usually have no one to lean on, no one to make decisions for them, no one to blame, and no vision to follow but their own.”
I completely agree with this statement and propose this question to the audience: When starting a business do you need a business mentor?
The simple answer is “Yes” and here are several reasons why:
Someone to be answerable to. It is often too easy for an entrepreneur to procrastinate when it comes to performing tasks that consume a lot of time, are boring, difficult, etc. A business mentor will help keep you on track by continuing to ask what your goals are and pushing you to succeed.
Someone to help you refine your business ideas into reality. You have great ideas… some of them; however, are raw and need refinement to be put into reality. A business mentor has the experience necessary to help you hash out the details of your idea and bring it into fruition.
Someone who can bring a wealth of new ideas to your business. A business mentor has been there before and understands what works and doesn’t work. As an entrepreneur your goal is to learn as much as you can and then use the lessons he/she teaches you to grow your business and become successful.
Someone outside looking in. As an entrepreneur, one of the hardest things to do is take a step back and see your business from an outsider’s point of view. A business mentor is an excellent resource to get this pivotal feedback.
There are many reasons why an entrepreneur should find a business mentor; however, how do actually find a business mentor? When looking for a business mentor the first place to check is your friends and family. As people who know you extremely well and vice versa there should be a level of trust already established. This should allow you to comfortably ask the question, “What do you think about this?” If friends and family are not for you, these are some other options available: SCORE, people in your extended network, complete strangers, indirect competition, industry leaders, and paid consultants.…

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Want To Start Your Own Home-Based Business? 3 Great Ideas For Success

If you have been thinking about starting your own home-based business, there is no better time to start than today! It has never been easier to start your own business from home than it is today with the ease of the internet and the fact that it is widely used across the world. While it may seem like it will be easy, you should realize that it is in fact a real business, so be sure to attack it with plenty of motivation, desire, and determination. There are a few really great ways to make your income, some of which can be very lucrative if you know what you are doing and are ready to work hard.
Here are three ways you can build a legitimate home-based business in a relatively short period of time, they include:
1 – Selling affiliate products
While this can mean many things, basically being an “affiliate” means you are selling someone else’s product and receiving a commission every time you make a sale. This is the fastest way to start selling something, however it is not the most lucrative, since you do not get to keep all of the profits from the sale. If you are not interested in creating your own products or offering a service, this might work well for you.
2 – Your own information products
If you have some knowledge or expertise in a certain area, you can create ebooks, audio courses, and video courses, and then sell them on a website. While this may take some time to put together the products, the reward is well worth the time since you only create the product once and then make money from it for years and years to come. If you do have some expertise in any certain area, this type of business can be very lucrative and is worth consideration.
3 – Consulting
Do you have a lot of experience in something that others will pay your for? If you do, you can start a consulting service and help people 1-on-1 via telephone, email, or even face-to-face. While this type of business may take more of your time since you must be there to consult, it can be very lucrative since people are willing to pay big money for others to help them with the topic at hand. If you are an expert in any field, you should strongly consider this type of business. You can even do a combination of #2 and #3, creating products to help others as well as offering your 1-on-1 consulting as a high-ticket item.
Whichever form of business you choose, be sure to explore the pro’s and con’s of each, choosing whichever fits your personality best.…

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Video Marketing Do’s And Don’ts For The Average Person

Anyone can use video marketing to reach their goals. The more you know about this technique, the better off you will be. If you study the advice that follows, you will be well-equipped to move forward.

Optimizing your videos is very important. When you upload to various sites, the titles and descriptions for your videos must be different. Also, add in your keywords. Finally, you can put in your email, phone number or website address so that viewers can get in touch with you if they want to know more.

When you are making a video, do not focus on what it looks like. High production values do not mean getting good returns back on your investment. Even large companies have used cost-efficient videos to generate a high number of sales.

The most popular type of searches online is finding out how something is done. Having tutorial videos creates an avenue for those who search in your niche to find you. If people see you as an expert in your niche, then they are more likely to return to your videos and website.

Include an opt-in form for your mailing list on every page where your videos are posted. People may want to sign up to get more information on the topic the video is presenting, and this is the perfect time for you to slip in your sales pitch.

Use video marketing as a way to show your potential customers that you’re a person just like them. One way to help your customers to relate to you is by making a video about your business. This will provide everyone with a more personable side to your business.

Use video marketing on a variety of social media websites. If someone happens to stumble across your YouTube channel, it would be in your best interest to direct them to your Facebook and Twitter pages. When you cross promote, you’ll build traffic. When all of your social sites are linked in to your video site, you will drive your traffic and sales higher.

Don’t let being camera shy keep you from using video marketing to promote your business. Hold a contest with prizes where people can enter their own videos. You can choose the winning video to promote your business on your sites.

Although lots of YouTube videos go viral, you can’t expect to just post a video onto YouTube and have it go viral by itself. You need to get it out there using social media and email marketing. Nobody will watch your video if nobody knows it exists!

Keep videos informative and short. Keep in mind that your viewers will more than likely have a very short attention span. Work on making videos of less than five minutes in order to hold people’s attention. You might have great content, but it won’t help you if you lost viewers before the video is over.

Everybody knows just how powerful a good video marketing campaign can be. Without proper information and ability, these possibilities are pretty limited. Focus on incorporating the advice you just read into your business plan so that you can succeed in a way that amazes even you.…

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Tips To Help You Operate Your Home Business

Most people have given some thought to starting their own home business. It may be that you have considered it too. Calling the shots and setting your schedule–nothing beats that! Want to know more? Read on.

A PO box is crucial if you are trying to start a home business. Do not use your home address, as this does not look professional. This can also help safeguard your home and isolate your work life.

In a home based business, having a support behind you can be very helpful. Take the initiative to pull your own network together if no appropriate one exists. Even though some of the people will not be in the same type of business, you will share with them the dedication and drive to make your home business a total success.

When working at home, office space is essential. You can use a small space if you’d like. Just make sure it’s someplace you want to go. Your work space needs to be a place of calm, productivity and inspiration. Don’t be concerned about size as you can do well with whatever sized space you have.

To set a reasonable price for anything you want to sell, start by getting a good feel for its current market value. Look at your competition, and aim to offer more competitive prices. Just focus on good quality. Stay away from slandering your competition.

Customers should be given incentives when they refer others to do business with you. Word of mouth is the most powerful way of advertising because the recommendation of a friend is always more reliable than any flyer that you can send. Maintaining loyalty from your customers will yield great profits in the long run.

Before you start your business, it is important to figure out which audience you want to target. Even if you are an expert on the product itself, you need to know all that you can on the people buying it so that you can choose the best marketing and business plans to succeed. You should also think about the preferences of your target audience when you are creating your website since they are the ones that will have to use it.

Speak with an attorney to find out what regulations you may have to face when starting your home business. Home business laws vary state to state. The business lawyer will inform you about these laws. He can also walk you step by step through your set up to make sure you adhere to the laws.

Set aside an area in your residence that serves as your work area. Make sure you have enough room for all of your stuff to be organized. This helps keep your business better organized so that you can be successful.

In any home business, if you want to succeed, you have to give your customers something of value. You are the boss and your success is up to you. Keep learning what you can about creating a successful business. Soon, your business will thrive.…