Tag: small business start-up

The Best Financial Opportunity for Entrepreneurs Since the Great Depression!

Is it the best of times or the worst of times?

There is a famous story where a shoe salesperson is looking to expand his territory for shoes. He travels to a country in Africa and sees that no one is wearing shoes.

What questions are you asking

When he gets back, e reports to his boss. His boss asks, is there an opportunity in Africa to sell shoes?

The salesperson reports back, “Not at all, no one is wearing shoes!”

The next salesperson working for the competitor goes to the same country in April and reports back his sales results.

When asked by his boss to evaluate what he sees, his response is totally different.

He says, “This is the greatest opportunity for us to expand our business because no one is wearing our shoes. What a great market opportunity for us!”

Opportunity is a matter of perspective.

Where is your focus on the opportunity with the financial uncertainty around us?

With unemployment rising and more and more looking for better financial choices, this may be your greatest opportunity since the great depression! No one said it would be easy. ?

If you are committed and focus on adding value and providing solutions, a financial opportunity will come your way quickly.

You may very well be in an industry where your competition is going out of business due to the shrinking market.

That is great for you.

Even if your market shrinks and there are fewer choices, that means you have better odds as you implement ways to improve your product and service for your market place. Search for more ways to add value!

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Virtual Real Estate, When and How to Protect Your Domain Names.

Are you protecting one of your most valuable assets? Did you realize that if you own domain names, you own virtual real estate free and clear? Yes, when you paid $8 or so to reserve you domain name, you or your company own it free and clear!
Who should own your domain names? What is most common? Usually most entrepreneurs own their domain names either through their own name personally or their operating company. Both of those are probably a mistake, especially if your “virtual real estate” has value!
If you owned a free and clear piece of real estate, like a rental property that was worth $500,000, would you own it personally or in your operating business? Never! If you owned it personally you are exposing a very valuable asset for lawsuits! If you had it owned by the business you are unnecessarily exposing your valuable asset to lawsuits that could occur against your business. Regular real estate is a risk asset by itself. But “virtual real estate” like a domain name does not necessarily bring much risk to it. The exception is;  if you reserve a domain name and later discover that you may be violating someone’s intellectual property or a claim is made against you.
If your domain names is responsible for 60-90% of your leads to your operating business it may be a very valuable asset. For example, NCP’s website, www.nvinc.com, which we have owned since 1997, is a very valuable asset. It generates about 60% of our leads and is owned by a separate operating company and leased back to Nevada Corporate Planners, Inc.
Many of you may want to consider forming a safe asset holding LLC to own all your domain names and lease them back to your operating company.  Typically it would be an LLC taxed as a partnership.
If you are just starting your business and there is no value to your “virtual real estate” other than the price you paid for your domain name, then leaving it your name or the business name may be ok short term. My preference would be to be owned by your operating company as a first step. If that is not the case, you can transfer the ownership to your operating company.
In summary, make sure you properly protect your domain names, especially as they gain value. A separate legal entity may make sense for many of you. For specific questions on your situation, call NCP at 1-888-627-7007!

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How to Never Lose Your Drive!

Are there times you simply do not feel like working? Perhaps a week goes by without a lot of action. Perhaps you may even feel a little frustrated or stressed and ready to quit. That is not ideal. What would be better? How about a simple and easy way to feel excited about your future all the time? Can you really turn this on at will or is it a random event?
I am here to tell you that you are in charge and you can control your drive! First, you must develop a COMPELLING FUTURE! This is very different than just goal setting. Many people have uninspiring goals. That is one big reason they lack the energy to make it happen on a daily basis. A compelling future is one that when you focus on it, there is a sense of drive, motivation and urgency to accomplish for the future!  You feel juiced in the morning (not drug type juiced) and you look forward to the day, even if you have not had results recently.
If you do not feel driven and excited about your business and your life, here are a few suggestions:
1 – Change a few sub modalities (a sub modality is a subcategory of modalities like auditory, visual or kinesthetic. You probably have heard some teach that one person is more visual while another is more auditory.
An example of a sub modality for visual is brightness, color, size …all these sub modalities will change the way you may feel about your future. If you future is fuzzy, dim or dark looking, bring your future into focus and make it big and colorful and see how differently it feels. How much more inspiring is that future vs. one that is fuzzy,  dim or dark?
2 – Are your goals too far into the future and not compelling? Perhaps for you, five years out will not be doing anything, but 90 days out would! Notice as you bring your future vision closer how  that makes you feel!
3 – Program in daily self talk. That means a language pattern that may sound like this. “Every day I wake up refreshed, and excited to make the most of each day! I automatically do the most important things to grow my business the fastest and bring the most profit to my bottom line. Plus I find more and more time with my family and friends…”
The key is to put this in the present-tense and know the outcome is controlled by you!
Still challenged?
Do an ecology check. Ask yourself this question:
Will anyone get harmed by me achieving this goal?
Sometimes the reasons we don’t achieve our goals is that we believe it will harm another person.
Sound crazy? Do you know how many people sabotage their own success because they know their friend, or family member will be jealous if they succeed? They may not say it that way, it will sound more like, why are you working so hard on that new business, you deserve a break, come to the bar with me today and relax or why do you believe in that positive law of attraction crap anyway, that doesn’t work.
Here is what is really happening. Your “friend” is not willing to go to the level you want in life. They will attempt to pull you down into their negative world. They do this because they are fearful of losing the connection they have with you.
But it is at a subconscious level. The key for you is to realize that in order for you to make the biggest impact with yourself you must start with yourself. The first base-man doesn’t help the team by worrying about what the second baseman is doing.

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