Full Economic Costing of Professional Services

Full Economic Costing of Professional Services
Defining an Economic Charge-out Rate for Service Businesses

Introduction

Many companies and professionals deliver services to third
parties.

Establishing an appropriate rate for charging those
services to customers is a commercial matter. The price at
which a contract is sold is often determined subjectively,
taking into considering how badly the supplier needs the
business and how much it is thought the client is willing
to pay. This may be entirely reasonable. However, in order
to deliver these services at a profit, it is necessary that
the price is at least as high as the true cost to the
supplier of delivering those services.

This paper looks at some of the "hidden costs" of doing
operations and proposes a model for determining the "Full
Economic Cost" of a company. The goal is to define an
objective methodology for setting a reasonable economic
daily charge-out rate for use in project costing and
management.

Why use a Charge-out Rate?

The purpose of establishing a charge-out rate is to:

1. Ensure that projects costs are realistic so that costs
are absorbed and profits are made: Putting the emphasis on
recovering full economic cost through charge-out rates
reduces the risk that project budgets do not generate
sufficient contribution to cover overheads.

2. Simplify the process of project costing and budgetary
control: Revenue from projects should not only cover direct
costs but should also generate enough "profit" to pay for
the overheads of the total business. In high volume
manufacturing where costs and production volumes can be
more accurately measured, management accounts usually focus
on direct costs and seek to cover overheads through
"contribution" from operations. In services businesses,
however, management accounting usually builds profit
targets into the charge-out rate used to cost a project,
achieving the same goal but without needing to run each
project as a profit centre

3. Anonymise true salaries between team members: When
several people work on a project, particularly when these
come from different departments and levels in an
organisation, it is not appropriate to discuss direct
salary costs in project accounts. At some point these costs
would become visible to members of a project, whether in
proposals, meetings or reports. Charge-out rates are
therefore used to mask variations in individual salaries
and costs.

How do you use Charge-out rates?

The charge-out rate is the standard mechanism by which you
set a price for a project: The price of a project is the
estimated effort multiplied by the charge-out rate for each
individual or level of project member (different levels of
team member may have different prices), plus a contingency
for risk.

The same charge-out rates are also used to monitor the
financial status of projects, either by reducing the
available balance by each day that is worked at the
charge-out rate and/or generating a "production" figure
that is charged against the project later. This cumulative
figure should also reported in the management and financial
accounts of the business as "work in progress".

Computing the Charge-out Rate

The charge-out rate for an individual needs to include a
number of elements.

Direct Costs: The employee's salary and any direct salary
costs. These costs include: Expected personal bonuses and
taxable financial benefits. Non-taxable benefits such as
pension contributions. Employer's national insurance
charges, calculated on salary, taxable and some other
non-taxable benefits Training costs and costs of
maintaining competence (examinations, professional
membership) Travel if this is not recovered as a project
expense Tools and materials unique to an individual employee

Indirect Costs and Overheads: Semi-variable and fixed costs
of the company that are necessary for it to operate. These
include: Fixed and semi-variable premises costs (rent,
rates, heating and lighting costs): These costs are not
attributable to an individual but vary step-wise as the
company grows/contracts. Indirect consumables such as
stationery, telecoms costs: These costs may not be enormous
and are difficult to attribute to individuals, but they do
vary in proportion to the number of employees, consequently
it is normal to budget for these at a fixed price per
individual Depreciation of office equipment, computers and
other capital costs. Each individual needs a desk, chair,
PC and other basic "tools". Note that furniture and office
equipment is usually amortized over 5 years (sometimes
less), whereas desktop computers and operating software are
usually written off in the year of purchase 1 year, unless
they have a realistic usage life that is much higher (HMRC
accepts that amortizing over 1 year is realistic these
days, particularly in businesses that are heavily dependent
upon IT) Other costs of doing business such as training,
travel and subsistence for example when visiting
conferences and exhibitions, marketing budget and similar
activities

Company administration costs. These include: Accountancy,
operations and other management services that may be
purchased by the company from external parties Sales and
marketing costs, including salary costs commissions of
full-time sales personnel and referral fees paid to third
parties General management costs. If the company does not
employ a full time general manager, then it may need to pay
for the services of an interim or part time manager/mentor
to fulfil those task

A provision for profit: If all direct costs and overheads
are absorbed at the charge-out rate, the company will not
make a loss. However the purpose of the company is also to
make return on capital for the shareholders, therefore a
"profit" element should be included in the charge out rate.
15% is not unreasonable in the case of small project: 10%
or less may be the norm in multi-year projects.

Annual to Daily Rates

To calculate the charge-out rate, all these cost elements
need to be factored in on an annual basis, and then this
should be converted to a daily rate. Normal convention in
industry is to consider 195 to 198 days productive days per
year to account for annual holidays, statutory/bank
holidays, and a reasonable allowance for sickness and days
lost for administration, company meetings etc.. In highly
specialised fields, it may also be reasonable to make an
additional allowance for training and maintenance of
competence in other areas. Some companies also factor in
time for "productive fun" (e.g. Google).

----------------------------------------------------
Stephen Oliver is Director of Expraxis Limited
(http://www.expraxis.com), a consulting company that works
with academics, entrepreneurs and inventors who need help
bringing new ideas to market. We help people set their
priorities, plan for their business, build relationships
with partners that can help them, and work with them to
help turn those ideas into reality.

Sales Training - Do Mercedes Salespeople Stay Up Nights Worrying About Low Kia Prices?

Sales Training - Do Mercedes Salespeople Stay Up Nights Worrying About Low Kia Prices?
Although many salespeople feel their competitors or
suppliers cause any price problems they experience, our
company has found that there are many other factors from
our own beliefs, to the words we use to timing and more
that actually cause our price challenges.

In this article, I wanted to raise an important question.
Do Mercedes salespeople stay up all night worrying that
people will discover they can buy a Kia for about 20% of
the cost of a Mercedes? I mean those Kia people are
selling for 80% less! Man if that gets out, no one will buy
a Mercedes right?

I am sure you will agree that statement is wrong. Mercedes
salespeople are well aware of the value they provide that
is far different from Kia, Ford or used vehicles that cost
far less. I think you will find these salespeople are very
confident and that they sleep like babies.

If you had a competitor that sold for 80% less than you
would you be as confident? You should be, because studies
show that no matter what customers tell you, only 14% buy
due to price alone and not value. You don't buy for price
and neither do your customers. Take your home as an
example. Do you live in the absolute cheapest home you
could buy or rent in your town, despite condition,
neighborhood safety, size, schools etc? I doubt it.

Do you have on the cheapest shoes you could have purchased
at the lowest cost thrift shop in your county even if they
are not your size or don't match? Again, probably not. You
do not buy exclusively for price, but for value and so do
your customers.

You are probably wondering why price objections come up so
much if price doesn't matter. The answer is that consumers
know it is the easiest one to use. Our training for our
clients covers many objections and many ways to deal with
them but price is definitely a consumer favorite. It is the
objection many salespeople actually agree with (deep down
inside) and the one salespeople give up with the easiest.

Let's look at one way we may cause our own problems with
price...the words we use.

Have you ever said something like "the list price is". As
soon as we say that, we are telling the customer in code
that we don't really expect that price. If we say the "list
price is", it implies that there is another (lower) price.
Try not using that phrase and you will see an immediate
difference in how much price objection you face.

Another foot shooting phrase might be "we just got a new
price list and of course, everything is going up with the
price of oil." The problem with this phrase is that it is
depressing. It makes the customer feel that the price you
are going to quote is high. No one wants to pay a high
price. Now, imagine if you said, "I have very good news.
Everything we talked about today is only $XXXXX.XX." It's
not a big difference but I hope you agree that the feeling
imparted is much better. It's more optimistic. It's a price
there is more of a chance the client will want to latch
onto.

Timing is important too. As we say in other articles and
videos, Never Tell Them The Price Until They Fall In Love
With The Product. Telling the price too early is very bad.
Timing is extremely important and so is the control it
takes to reveal the price on your schedule.

This article is designed just to make you realize that
having competitors with low prices is not affecting you any
more than it affects those Mercedes salespeople. There are
lots of techniques that will make a difference and they are
certainly worth spending the time and effort to master.

Few objections come up as regularly as price objections.
How much training have you had from experts on how to turn
those objections into sales? We hope you agree it will be
worth the effort.

----------------------------------------------------
Sales training article discusses how to deal with price
objections and how Mercedes salespeople are not concerned
about competitors. It teaches how to sell for more and
technqiues required to close more and overcome price
objections. For more information on our DVD visit
http://www.pricedoesntmatter.com

Negative or Unproductive Co-Workers Have Nothing To Do With You

Negative or Unproductive Co-Workers Have Nothing To Do With You
Don't let negative or unproductive co-workers hold you back
from achieving your workplace and career success.

Ceridian LifeWorks, a provider of employee assistance
programs, recently reported dozens of examples of
co-workers who spread tension among other staff members,
increasing workplace stress.

Negative co-workers can abandon their workloads to you,
right before an important deadline. Their hostility can
wreck the personality of a workplace and negatively impact
your productivity.

Bad co-workers can waste your time, or they can withhold
vital information that also hurts your productivity, which
reflects on your career.

According to one recent report from "New Scientist," the
average worker wastes two hours each workday fielding
emails, annoying colleagues and phone calls.

Here are seven practical steps you can take to avoid
letting your co-workers hold you back from your workplace
success

1. Be honest with yourself first. Are you guilty of being
that unproductive or unpleasant to co-workers? Stress is
contagious when you, not just your co-workers, express
stressful behaviors at work. If you're the bad co-worker,
take proactive steps to stop your own bad behavior.

2. Identify and isolate bad co-workers. Identify toxic
co-workers and develop a plan to avoid those areas of the
office housing bad co-workers. Don't give them the
opportunity to ruin your day.

3. Don't ignore the situation. If a co-worker is behaving
badly, immediate address the situation before it becomes a
long-term instigator of stress. Politely ask a co-worker to
stop a behavior, and include a polite explanation. Example:
"I'm very busy between 10 a.m. and noon, so please don't
visit my desk during these hours."

4. Agree to disagree. Respectfully agree to disagree with
colleagues who insist they are right. Example: "I agree
your work is important, but my deadline is my top priority
right now." Example: "I respect your perspective, but I
have to return to my desk to finish a project that is
important to me."

5. Don't lose your temper. Like stress, anger is
contagious, too. Practice anger management exercises such
as deep breathing to calm you when you see a stressful
co-worker approaching your desk. Or excuse yourself to take
a quick, stress-busting walk outside the building or to
another floor and back again. Don't encourage bad behavior
from a co-worker by demonstrating your own bad behavior. If
you do, the bad co-worker wins, and you lose the control
you must assert over your workplace behaviors.

6. Use your emotionally intelligence. This is your power to
respond intelligently to emotional situations. If a member
of your work team is a chronic procrastinator, take steps
to avoid being on that co-workers team or to assign
less-taxing assignments to the slacker. Make and keep a
record of what you accomplished on a project, and, without
resorting to blaming the lazy co-worker, act positively in
positively addressing your achievements in a report to your
superiors.

7. Turn a negative into a positive. If you find yourself in
a workplace that condones or even celebrates bad
co-workers, don't focus on what you cannot change. Change
your future by actively looking for another position at a
positive workplace. Creating weekly reports tracking your
accomplishments in projects involving unproductive
co-workers becomes the basis for creating a great resume.
Yes, you can turn a negative into a positive and leave
negative co-workers or un-productive workers behind as you
sail into your next success.

----------------------------------------------------
Ruth Klein is a branding, marketing, publicity and time
management consultant to law firms and business
professionals ranging from solo entrepreneurs to the
Fortune 500. As an award-winning business owner with a
master's degree in clinical psychology, Klein brings her
unique, results-driven insights, expertise and practical
solutions to her law firm clients. For more information,
visit http://www.ruthklein.com .

Setting Up Microsoft Small Business Accounting Program for an LLC

Setting Up Microsoft Small Business Accounting Program for an LLC
If you operate your small business as a limited liability
company, you may already know that setting up Microsoft's
Small Business Accounting software can be sort of
confusing. Fortunately, you can use four easy tips to
assure that your new accounting software works as it should.

Tip #1: Pretend the LLC Is Something Else (for Accounting)

A limited liability company, for tax return preparation and
bookkeeping purposes, always gets treated as something else.

An LLC with a single owner, or member, is treated as a sole
proprietorship if the LLC operates an active trade or
business, for example. And a limited liability company with
multiple owners, or members, is treated as a partnership.
(Note: The owners of a limited liability company are called
members.)

Limited liability companies may also elect for tax return
preparation purposes to be treated as regular corporations
(called C corporations) or as Subchapter S corporations.

And all this suggests a first tip for setting up
Microsoft's accounting software for your limited liability
company. When you run the installation wizard, do not tell
the software you're setting up a limited liability company.
Rather, tell the installation software that you're setting
up for the type of taxpayer the LLC will be treated as.

Correctly identifying the sort of taxpayer your LLC is
means the accounting software gets setup in a way that
works for your tax accounting.

Tip #2: Account for Single-member LLCs Inside the Parent LLC

A common asset protection technique is to have a parent LLC
or a parent corporation own child LLCs and then have each
child LLC own a chunk of the business. A retail chain with
multiple locations, for example, might use a separate LLC
for each outlet.

This sort of parent-child LLC structure makes legal sense.
But for accounting purposes--and this is the tip--you don't
want to put the different LLCs into separate accounting
datafiles. Rather, you want to track each child LLC's
accounts, income and deductions inside its parent's
accounting datafile.

This combination means that for tax accounting purposes,
and as is appropriate, the parent and the children combine
their income and deductions within a single Microsoft Small
Business Accounting data file.

Tip #3: Use the Chart of Accounts to Identify LLC Assets
and Debts

One other wrinkle should be mentioned related to combining
LLC accounting records, however: Because each limited
liability company is a different legal entity, you should
use different accounts to track the assets owned by and
liabilities owed by the separate limited liability
companies.

Each LLC should have its own separate bank account, for
example. Each LLC should track its own accounts receivable,
furniture and fixtures using specific-to-that-LLC asset
accounts. And each LLC should use track its debts with
specific-to-that-LLC liability accounts.

Tip #4: Customize Forms for Each LLC as Necessary

As just mentioned, you can and should combine the parent
LLC and the child LLC transactions within a single
accounting datafile. However, you still want to recognize
and visually highlight the separate legal identity of the
parent LLC and of any child LLCs.

Within Microsoft Small Business Accounting, the easiest
method of maintaining this separate identity is through
customized forms for each entity. If an LLC invoices
customers or clients, for example, that LLC should have its
own customized invoice or statement form that uses that
LLC's name. If an LLC issues purchase orders, that LLC
should have its own custom purchase order that (again) uses
the LLC's name. Obviously, if an LLC has its own bank
account, that bank account will have its own check forms
with the LLC name.

Note: Within Small Business Accounting, the form windows
provide options for customizing the form.

----------------------------------------------------
Stephen L. Nelson, CPA, is a tax accountant in Seattle,
Washington, the author of QuickBooks for Dummies, and the
editor of the http://www.scorporationsexplained.com and
http://www.fasteasyincorporationkits.com web sites.

12 Tips To Getting Instant FREE Publicity More Believable And Profitable Than Any Advertising.

12 Tips To Getting Instant FREE Publicity More Believable And Profitable Than Any Advertising.
June is 'Entrepreneur's Do It Yourself Marketing Month' and
every small business owner on a tight budget that wants to
explode their businesses quickly, easily, and without
breaking their bank account should be using press release
marketing in their overall plan to generate profits.

Writing a press release is a great way to gain plenty of
exposure for your business and unlike advertising.....it is
free.

Do you know how easy it is to get stories about your
company on TV, on the radio, in newspapers, in magazines
and on the internet simply by submitting a press release
about the new thing going on with your company? And keep in
mind, these are stories about your company.

These are not ads that you are paying for. People are more
trusting of the stories they read. Printed stories do not
evoke in readers suspicion as advertising does. Now that's
exposure you just can't buy.

Below are 12 tips to get you started:

-Write and distribute press releases consistently to
promote your product, service, cause or issue. Be certain
they are direct-to-consumers releases. You can get more
tips on how to do this at: www.DanieBaptiste.com

- To demonstrate your expertise, write "how-to" articles
and submit them to high trafficked directories such as:
EzineArticles.com & Ideamarketers.com These same articles
can be sent to newspapers, trade publications, magazines
and both online and print newsletters.

-Start your own blog and post entries to it at least three
times a week on your topic. You'd be surprised how many
journalists do their research on the internet and interview
bloggers.

-Create a profile at social media sites like Facebook,
MySpace, Squidoo, Ryze, and LinkedIn. These sites are
growing by the day as millions of people turn tothem
instead of to traditional media for their news,
entertainment and networking activities.

-Find out the reporters who cover your industry and invite
them to lunch. Let them know that you are someone whom they
can call on for background, commentary and story ideas.
Don't be shy. Reporters appreciate it when you call to ask,
"How can I help you?"

-Contact the advertising department of every newspaper and
magazine you want coverage in and request a copy of their
editorial calendar. This is a free listing of all the
special sections and special topics coming up during the
calendar year.

This information alone will tip you off to sections where
your story idea would be a perfect fit, enabling you to
query the editor weeks and even months ahead.

-Send in press releases to radio stations letting them know
about any fun and unusual promotions your business is
putting on.

-Send in a pitch to the media suggesting profile stories
about individuals (your employees, of course!) with
interesting or unusual hobbies or volunteer in outstanding
community service projects. The reporter will call to ask
them where they work—and that's more publicity for
you.

-Develop relationships with columnists at newspapers and
magazines and continue to feed them fresh ideas because
they are hungry for it. Mail them a press release about the
trends you are seeing in your industry.

-Ask your trade association to refer reporters to you. This
is one of the places that reporters call when they are
looking for sources.

-You can send in a press release and a complimentary issue
to reporters in your industry if you've published a printed
newsletter with helpful tips or off-the-wall stories of
your customers, with their permission, of course. This will
more than likely get you lots of interviews with the media.

-If there is a national story being covered and you can
give a perspective being the local angle....a simple press
release can get a reporter over to your business with pen
in hand ready to give you free publicity if you can appeal
to a wide audience.

You've just made it so much easier for the media as they
don't have to spend too much time on researching a topic of
great interest to their audience.

----------------------------------------------------
Yves Marie Danie Baptiste is an expert in writing effective
press releases that gets results. Click here:
http://www.DanieBaptiste.com for more information on how to
write powerful press releases that puts your product,
service, or cause in the news.

Viral Strategies for Internet Marketing

Viral Strategies for Internet Marketing
First of all, I realize that anything with "viral" in the
name doesn't conjure up images of something you want close
by, but there is a new type of Internet marketing known as
"viral marketing" is worth investigating. Despite its
unflattering appellation, it is an effective Internet
collaboration marketing tool, and one that is important to
understand if you want to expand your business.

What is Viral Marketing?

Viral marketing is a strategy that encourages your business
to carry a marketing message via e-mail, and to partner
with other businesses, which will attach your marketing
message to their emails. This is ultimately another form
of collaborative marketing for your company, but one that
lends credibility because your message is passed on through
other companies. The name viral marketing was chosen to
indicate the way a virus can rapidly multiply within a
cell, and ultimately taking over the cell, bending the cell
to the whims of the virus. This aggressive expansion and
growth is the target of a viral marketing platform.

The strategy ultimately uses a network of relationships
that you have developed, as well as the relationships and
resources of the companies with whom you are collaborating,
which are attaching your message to their emails. This can
work both for your own business, as well as a collaborative
marketing partnership with other companies.

You can include a marketing message in the emails that your
company sends to its clients and customers, and you can
contract to have your marketing message sent by other
companies, via their emails. By creating collaborative
relationships with secondary companies to pass along your
email advertisement, you will be able to reach out to a
whole new client base that, perhaps otherwise, you would
not have been able to target.

This may sound a little confusing at first: am I sending
marketing messages along with my companies emails, or are
other companies sending my advertisement along with their
emails? The answer is either, or both—both are good
ways to get a marketing message broadcasted. Using an
outside company often involves a fee, but may be a
worthwhile investment due to the sheer volume of people
you'll be able to reach, as well as the range of customers
you'll be able to target, because it differs from your
typical client base.

A Few Examples

You have undoubtedly been exposed to viral marketing, yet
have not realized it or registered the fact. One of the
most classic examples of viral marketing is used by the
free email website, Hotmail.com. If I have a hotmail
account, automatically attached to each email message I
send is an accompanying by a message from Hotmail.com,
encouraging the recipient to sign up for an account. In
this way, Hotmail is advertising its own business through
the emails that each of its existing clients sends.

Another clear example is that of e-greeting cards. Each
greeting card that is sent carries the company's marketing
message, encouraging the recipient to send a card using
this service. If I receive an electronic greeting card
from a friend, I will automatically be prompted to send a
card using the site from which I've just received mail.

Viral marketing is a newer Internet marketing strategy that
was more recently developed and is quickly becoming
popular. It is a strategic way to advertise your business
and services, as well as to partner with other companies to
help you form a broader collaborative marketing platform.

----------------------------------------------------
Christian Fea is CEO of Synertegic, Inc. A strategic
Collaboration Marketing consulting firm. He empowers
business owners to discover and implement Integration,
Alliance, and Joint Venture marketing tactics to solve
specific business challenges. He demonstrates how to create
your own Collaboration Marketing Strategy to increase your
sales, conversation rates, and repeat business.
Contact: christian@christianfea.com
http://www.christianfea.com

Making Leadership Decisions

Making Leadership Decisions
Leaders make decisions all day long, some major and some
minor. Some are bold moves, other are run-of-the-mill
choices. The key is that they make them.

The two challenges I find with my clients decisions are

a) they often don't have enough information on which to
base the decision and

b) their timing is off.

Think of the best decisions you've made. You were most
likely feeling confident and well-informed.

In "The 21 Indispensable Qualities of a Leader," author
John Maxwell explains: "Effective leaders understand the
peak-to-peak principle. They make major decisions when
they are experiencing a positive swing in their leadership,
not during the dark times. As NFL fullback Bob Christian
says, 'I never decide whether it's time to retire during
training camp.' He knows not to give up when he is in the
valley."

To that I would add that Bob Christian doesn't know how his
team will perform during the actual season during training
camp. The evidence is not yet available.

How does a leader gain the information needed? All good
leaders surround themselves with a team of advisors. Even
if you're a small business owner you have your attorney,
CPA, financial advisor, etc. If you've not yet secured
this team, now's the time.

Oftentimes, it's necessary to go outside of this team to
attain the data. If timing permits, seek out other experts
in your field - clients, customers, anyone involved.
Listen without interrupting or interjecting your opinion.
This is an information-gathering exercise.

Then, select the best timing. The saying 'Let's sleep on
it' contains wisdom. Studies show that pondering a problem
prior to going to sleep allows your subconscious to work on
it, producing the answer in the morning. This worked for
me with college calculus years before I was aware of this
process.

Please note that I said 'ponder' the problem, not 'stress'
over it. Stressing over our problems only provides jagged,
cloudy thinking. Slowing down to contemplate alternative
approaches allows a smoother, more effective process.

Timing also has to do with your own rhythm. Some of us are
more alert and decisive in the morning, others at 10:00 at
night. Know your best time and, when possible, save your
major decisions for that time of day.

Having said all of this, the most effective leaders that I
personally know tell me that they gather the necessary
information, know when the time is right and base their
decision on their 'gut.' "It just came to me and I knew it
was the right direction to proceed."

Each of you is a leader in your world. Making decisions is
important. Why not make it easier by gaining the
information you need, moving forward when the time is right
for you and of course trusting that gut, inkling or
intuitive hit? Enjoy your discoveries and have an
outstanding week!

----------------------------------------------------
For the sake of keeping your career fresh and on track,
would you like to enjoy a weekly shot-in-the-arm from
Master Certified Coach Ann Golden Eglé? You can sign
up for her free weekly ezine, The Success Thought of the
Week, at http://www.gvsuccesscoaching.com .

Time Saving Tips for Selling Professionals

Time Saving Tips for Selling Professionals
The cliché time is money, is the guidepost for most selling
professionals. Time is the one item you do not get to
reinvent or get back. Once it's gone it's gone. The reward
for managing your time is the enrichment of not only your
professional life, but also your personal life. And, good
time management also gets you closer to your goals. You
must focus on your highest priorities and consistently
place them first. The added benefit of a well-organized
work schedule is the creation of time for family, friends
and the leisure activities that rejuvenate and refresh you.

With only 24 hours in a day, how can all the calls, the
reports and the tasks get completed? Simply put, planning.
Planning is the most vital aspect of every professional
career. Business professionals particularly should plan the
order of their appointments so as not to retrace steps;
they should plan when to respond to e-mail. If possible,
they should plan where and when to visit clients so not to
spend too much time in the car.

Typically, most of us respond to what we believe are urgent
matters and forget to pre- plan and be proactive. They
become Emergency Medical Technicians for all incoming work.
The red light goes on and salespeople immediately scurry to
get that item completed immediately.

Proactive planning makes the day less daunting and helps
you get more accomplished in less time. If you respond to
all that comes to them; you will never accomplish any of
their important items. Here are successful tips:

1. Grouping appointments either in the morning or in the
afternoon. Sporadically making appointments during the day
leaves little room for other things.

2. Replying to telephone calls and emails four to five
times per day rather than right away. Stop being reactive
and create proactive activities to make the day less
intimidating.

3. Prioritizing your tasks using letters, numbers and
color-coding. Creating visuals and lists immediately
connects you with what must be done first. We will address
this late in this booklet.

My program Pump Up Your Productivity™ contains a 12- step
formula for assistance with prioritization and planning.
Created here is the list of the top five.

1. Use a planner - Electronics and technology creates a
vast array of tools and gadgets to enable efficiency in our
day. The issue is that many people do not use them or
cannot utilize them during certain times, i.e. driving an
automobile or while shopping. With over 25 years in
business and several electronic tools at my disposal
(Outlook and an iPhone), I still use a paper planner. It is
always at my disposal and never needs to be rebooted
because it crashed.

2. Work backward - Begin your days with what needs to be
accomplished on completion of the day. Begin the day with
the end in mind. Visualize what you need to do before the
sun runs out.

3. Minimize distractions - Forestall the interruptions.
Refrain from enabling others to distract your day. Stick to
your plan and get more done. Create a healthy selfishness
and learn to use the word NO!

4. Create routines - Regularity creates habit. Structure
the day around specific events or even specific clients and
neighbors. It is not customary to build a day reflecting a
maze.

5. Do not dwell on unpleasant situations - We all castigate
ourselves. When things go awry we create self doubt and
intensify the experience. This throws us off from our tasks
and responsibilities. Learn to compartmentalize and move
forward.

There are numerous things you can do to simply your life
and your practice. A best practice is prioritization. Many
professionals operate haphazardly, rushing from one issue
to another without a plan. Prioritizing your daily events
enables you to maximize your time, minimize the issues and
end the day happily.

I propose one of two options for you dependent on your
personal taste. The first emulates time-honored pundits.
Prioritization is about placing first things first. And the
first step is to obtain a planner or use some electronic
device that enables you to record important To Do items and
appointments. Recent surveys illustrate that over 45% of
individuals miss appointments or fail to accomplish
imperative issues because they fail to record them.

Once your begin to record your day, one of the most
essential elements is to record your lists of To Do's.
There are two steps to this process. In a margin or on the
events portion of the planner list your items using an
alphabetic code. Simply write down or keypunch all the
things you need to do within the next week. Then begin to
code the items using an alphabetical symbol. To exemplify
use an "A" for items that need to be complete in the next
12 to 24 hours; use a "B" for items that need to be
complete in the next 24 to 48 hours and finally use a "C"
for items that need to be complete in the next 48 to 72
hours or personal items.

Now review your list again and be realistic. Not everything
in the list needs to be complete within 24 hours.
Theoretically, you should have no more than three to four
items in each of the respective alpha categories. Here are
some additional points to ponder for prioritization:

1. Get up early. The cliché of early to bed early to rise
is true you get more done when lethargy is not prevalent in
your life.

2. Direct others to maintain your order. You are the master
of your fate and the more you delegate and control
situations the easier the day becomes.

3. Invest in things that assist you. Purchase planners,
cell phones, directories, computer equipment, etc. Being
frugal saves money but does not win you time.

4. Be selfish. Learn to say "No". Be respectful and learn
to say no when possible. Affirming all that comes into your
day only throws you out of focus.

5. Laugh and learn. Life is too short. We are not on this
earth but for a short time; do not sweat the small stuff.

6. Reward yourself. When something goes well, go for a
walk, buy the dress, go out for a nice dinner but do not
wait because no one will take care of us but us.

Creating change alters the comfort zone. However, when you
begin to make changes you begin to see the timesavings you
desire. You also eliminate stress. In the words of Mahatma
Gandhi, "Be the change you want to see."."

----------------------------------------------------
Drew Stevens PhD is known as the Sales Strategist. Drew
assists organizations to dramatically accelerate business
growth. He is the author of seven books including Split
Second Selling and Split Second Customer Service and Little
Book of Hope and is frequently called on the media for his
expertise. Get a FREE download Drew's White Paper on
Selling Effectiveness or Business Building e-book at
http://www.gettingtothefinishline.com

Hot Franchising Opportunities - Food Franchises

Hot Franchising Opportunities - Food Franchises
With the world moving at such a fast pace, it is no wonder
that fast food restaurants are making so much money.
Families have both parents working, or busy executives
grabbing something quick to eat, or just having something
to eat while you are on the go.

What ever the reason is more people are having more fast
food. That is why if you are looking for a great business
opportunity, a food franchise business may be the one for
you.

Before you consider such a venture you will want to get as
much information as possible, get the food franchise
businesses to send you their franchise information pack,
financial documents, and any other relevant information,
nowadays you can even ask what steps they take to ensure
that the franchise is more eco-friendly.

If you are not clear on the information that you are
supplied, make sure you call them and speak to one of their
qualified specialists to clarify any points that may be
unclear.

In addition to this information, you can also check them
out with the better business bureau, make sure their
licenses are all up to date and every thing they do is
legal.

You can also check online to see if they have been sued or
have been a part of lawsuits in the past, this is an
important point as once you commit it is very hard (and
costly) to back out.

However, many of the food franchise companies know that
fair and honest customer dealings will make them more
popular and will try to fix any problem you have.

The next thing you will have to know is what kind of food
they sell, and do you have to follow their menu to the
letter. If you are a chef of sorts and know some
interesting ideas can you use them?

Some of these companies will demand total compliance to
their menu and will expect all of the franchises under
their umbrella to be uniform in every way, which is not so
good if you have a natural flair. You will need to know
whether you want your business to be about the other
companies brand or all about you.

The next thing you will need to check out is the price, or
the amount you need to deposit, in order for you to get
that franchise, do you have the amount needed, or some back
up plan to get the funds, you will need to know what
company serves your kind of food and how much it costs to
buy in.

Also check to see if there are any ongoing costs, for
example a percentage of profits, as these can and do sneak
into franchise agreements.

Some food franchises cost between $80,000 to 250,000 or
more. You need to be sure that you also have some financing
available to make pay your normal everyday expenses until
your business takes off and you go into profit.

The next thing to consider is what equipment you will need.
You will invariably need some good additional cooking
equipment than will come with the franchise and you need to
have it when you open.

Can you truly afford this equipment, be prepared when you
go to the franchise office and discuss what you think you
can do.

A good option if you need equipment is to buy it second
hand, the cost will be less and you will have additional
cash available for other expenses around the restaurant.

You can also ask if the franchise provides you with all of
the equipment, if they do what is the extra cost for such
equipment and is it new.

Last, you will need to ask them what business licenses and
paperwork will you have to file and, are they responsible
for your accounting as well as the insurance. This is very
important if you don't want to lose money or have to a fine
because you are not in compliance and have to shut down for
a little while.

You may also need additional food licenses, liquor
licenses, or many of the other things that must be licensed
and you may also need fire and safety certificates if these
are not part of the franchise deal.

Before taking on a franchise business, you should be sure
that you know all of the information that is available,
don't forget to question everything, but more importantly
that you take the project that will fit your personality.

Be sure your financial situation is in order and that you
can afford such a venture. Also make sure you have taken
the proper procedures to license your business and be sure
you have all of the equipment needed for your franchise
business opportunity to run smoothly.

In addition to all of these things, get a lawyer to look
over the contracts, to make sure that this is a good fit
for you, having a lawyer will ensure that everything
promised in the contract is done properly and that you are
prepared in case something should go wrong., it's always
best to be safe than sorry.

----------------------------------------------------
Food Franchises are growing in popularity driven by the
ever increasing pace of life. You can find more information
about UK food franchise opportunities at
http://www.thefranchisebusiness.co.uk

No Agony of Defeat for Hillary Clinton

No Agony of Defeat for Hillary Clinton
On June 7, 2008, Senator Hillary Clinton made history. I
knew it as I watched her deliver her exit speech before
2,000 supporters at Washington's National Building Museum.
She wasn't just endorsing presumptive Democratic
presidential nominee Senator Barack Obama; she was leading
by example.

In her speech, she exemplified how to be gracious in the
face of defeat. She did not take "no" for failure. She
remained ambitious, confident, and strong. There is much
the entrepreneurial woman can learn from Senator Clinton,
including the following 10 lessons about facing so-called
defeat:

1. If there's an elephant in the room, talk about it right
from the start.

"Well, this isn't exactly the party I'd planned, but I sure
like the company."

2. Be generous with your gratitude and appreciation.

"I want to start today by saying how grateful I am to all
of you - to everyone who poured your hearts and your hopes
into this campaign, who drove for miles and lined the
streets waving homemade signs, who scrimped and saved to
raise money, who knocked on doors and made calls, who
talked and sometimes argued with your friends and
neighbors, who emailed and contributed online, who invested
so much in our common enterprise, to the moms and dads who
came to our events, who lifted their little girls and
little boys on their shoulders and whispered in their ears,
'See, you can be anything you want to be.'"

3. Reaffirm your commitment.

"To all those who voted for me, and to whom I pledged my
utmost, my commitment to you and to the progress we seek is
unyielding . . . I will continue to stand strong with you,
every time, every place, and every way that I can. The
dreams we share are worth fighting for."

4. Remind people of why you do what you do.

"I entered this race because I have an old-fashioned
conviction: that public service is about helping people
solve their problems and live their dreams. I've had every
opportunity and blessing in my own life - and I want the
same for all Americans. Until that day comes, you will
always find me on the front lines of democracy - fighting
for the future."

5. Let people know what's next.

"The way to continue our fight now - to accomplish the
goals for which we stand - is to take our energy, our
passion, our strength and do all we can to help elect
Barack Obama the next President of the United States."

6. Unify rather than divide.

"The Democratic Party is a family, and it's now time to
restore the ties that bind us together and to come together
around the ideals we share, the values we cherish, and the
country we love."

7. Know what motivates and inspires you.

"I ran as a daughter who benefited from opportunities my
mother never dreamed of. I ran as a mother who worries
about my daughter's future and a mother who wants to lead
all children to brighter tomorrows."

8. Dare to be you.

"Always aim high, work hard, and care deeply about what you
believe in. When you stumble, keep faith. When you're
knocked down, get right back up. And never listen to anyone
who says you can't or shouldn't go on."

9. Keep things in perspective.

"Although we weren't able to shatter that highest, hardest
glass ceiling this time, thanks to you, it's got about 18
million cracks in it. And the light is shining through like
never before, filling us all with the hope and the sure
knowledge that the path will be a little easier next time.
That has always been the history of progress in America."

10. Keep moving forward.

"So I want to say to my supporters, when you hear people
saying - or think to yourself - 'if only' or 'what if,' I
say, 'Please don't go there.' Every moment wasted looking
back keeps us from moving forward. Life is too short, time
is too precious, and the stakes are too high to dwell on
what might have been."

Love her or hate her, Senator Clinton holds a vision for
the future and keeps her eye on the mark. No moss will ever
grow under her feet. Instead, she counts her blessings and
moves on. She considers failure as nothing more than a
stepping-stone toward success. She is resilient and
determined, she never gives up, and she knows who she is.
She is a woman getting it done. No agony of defeat for
Senator Hillary Clinton!

----------------------------------------------------
Dr. Susan L. Reid is a business coach & consultant for
entrepreneurial women starting up businesses. She is the
award-winning author of Discovering Your Inner Samurai: The
Entrepreneurial Woman's Journey to Business Success. Susan
provides intuitive small business solutions, powerful
attraction marketing tools, inspiration, & direction. Visit
http://www.SuccessfulSmallBizOwners.com & download your
copy of her latest free business success article.