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We hope you find this arcthve useful. A subscription to The Small Business Advisor Newsletter is free. Subscribe now - it's easy! The Small Business Advisor Newsletter for Feburary, 1997 CONTENTSNotes, tips, etc Business Cards Merchant Card Account Software Smoking & Your Business Nutrition & Your Business Advantages of Incorporation 1997 Resolutions for your Business ++++++++++++++++++++++++ NOTES/TIPS/etc. ARCHIVES. Check our site for
newsletter archives (click on "The Advisor") <script language="javascript">
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MAKE YOUR BUSINESS CARD WORK
FOR YOU Take a good look at your business
card. Is it white, with black block type? When you think about it, your
business card is far more than just a card Cards can "carry" the product
to the recipient. Like the one I've had for How about a card that gets
the recipient to DO something... We designed a So what can you look at when
redesigning your cards? The texture and color The next thing they do is
turn the card over. Has YOUR card got white space Can you make your card USEFUL?
I have a card here that provides useful Cards with a color photo?
Yes, they keep you in the mind of the prospect. Have you won any awards for
excellence in your field? Don't keep it to Finally, as much as I respect,
and work closely with printers, please don't [Advisor comment: Don't forget to include your e-mail and WWW site address on your business card and letterhead] ++++++++++++++++++++++++ CREDIT CARD (MERCHANT ACCOUNT)
SOFTWARE: There is a rather new regulation being mandated by Visa/Mastercard for all mail order and non-swipe merchants called AVS or Address Verifications System. In order to cut down on so-called fraud, Visa/MC (but not AMEX yet) is requiring merchants who sell via mail or on-line to supply the street address and the zip code of the buyer using electronic draft capture software on a PC or Macintosh. Visa/MC will compare the street and zip against their files and return to the merchant a code saying that it matches or it doesn't. They will not deny an address mismatch and are leaving it up to the discretion of the merchant to accept the card or not. Merchants who do not comply with the address verification requirement and who wish to remain on their current keypad terminals (Verifone, Envoy, etc.) will be hit with much higher discount rates. We are a small publishing company that sells many of our titles via mail order. In addition, I am a 20 year veteran of the computer consulting wars, thus I was asked by the company to evaluate the software options available for us. After an extensive search (aided by our bankers) I decided to test two products, ICVerify and PC Authorize, on our Windows 95 platform. Both of these products are brand new for the Win95 market. And they are both about the same price, in the area of $350. In addition, they both do the same function: capture data, transmit it to whatever network you are on, and return and display the result. However, there is a big difference between them when it comes to the user interface, as well as features. FEATURES: ICVerify is far more full-featured than its rival. It has modules for many different types of businesses such as hotels, gas stations, retail stores, etc. However, since the majority of new buyers of this type of software will be general mail order merchants, I did not find the existence of all these features to be a real benefit to us. However, if you are going to accept both swiped cards as well as non-retail transactions, and you are a "special" type of business, some of these whistles and bells may be of interest to you. PC Authorize does not have modules for every business under the sun and adopts a one-size fits all approach. While they do have special modules they call "plug-ins" for different networks (we are on MAPP) they do not have any special add-ons for specialized business types. One feature that both have is a "demo" or "training" mode where you can play with the product or train a user but no calls are placed through the modem. ICVerify has more combinations of reports. PC Authorize actually has only one report. INSTALLATION: Both programs install rather easily. ICVerify came to me on 4 disks, as they sent me what is called a "developers kit," while PC Authorize was on two disks. Both programs create folders of their own and install themselves in a few minutes. One quirk I did not like with PC Authorize is that the company says that a password is required and that one is supposed to come in the package. There was none in the package I received and I installed the product without the password and it worked fine. I called the support number later on and told them about this and they were puzzled about why I didn't get a password and why the program worked. I don't think they have thought this concept through too carefully. DOCUMENTATION Both products come with a short and easy to read manual. This is pretty simple software and the buyer will not need to refer to the manuals too often. I thought that the PC Authorize manual was better written and had easier to follow instructions for configuration. However, I often saw the words "MAC Authorize" when they meant to say "PC Authorize." SETUP: While configuring each program with the merchant number, phone number to dial, and terminal ID was easy for both programs, I thought it was more straightforward with the PC Authorize program, probably due to the better manual and the instruction sheet they provided with instructions for my bank's particular network. INTERFACE: This is were the biggest difference between the two products is. ICVerify has a poorly designed, ugly, and clumsy user interface. What they did was to take their DOS product and port it over to Win95 using a minimum of Win95 Graphical User Interface (GUI) standards. And it shows. When I spoke on the phone with the VP of Marketing, he admitted that the GUI was pretty ugly and that they were working as fast as they can on an upgrade. He said that they had to get a Win95 product to market for competitive reasons and did some "quick and dirty" programming on their legacy product. ICVerify is one small step better than a DOS product that would run in the DOS window of Win95. The interface is absolutely terrible. PC Authorize, on the other hand, took their Macintosh product and ported it over to Win95. While they obviously do not confirm to all of the Win95 standards, the interface is still quite elegant, as you would expect from a Macintosh conversion. The PC Authorize product is a joy to use and look at. FUNCTIONALITY: Both programs do the same thing. They collect data input in the form of individual transactions and put them in a batch. Transactions are authorized by modem, either one at a time or all at once (by batch.) The settlement process for each is the same for each product. Both products have adequate safeguards to make sure you don't try to settle a batch that has transactions without verifications. Because the PC Authorize interface is so well thought out, it was much more "pleasurable" to use than the ICVerify. However, bottom line, they both get you where you want to go. EXTERNALS Here is were PC Authorize really shines. It employs a very simple and easy to understand set-up screen in order to either import or export data. We had to export the necessary data (card number, expire date, address, etc.) from our invoice system into the PC Authorize program. It was simple to export the data to a text file and then import this text file into PC Authorize. It took hardly any time at all for us to set this up on both ends. We decided to input the invoice data first and then export to the credit card system. However, we could have done it the other way if we wanted. PC Authorize makes it easy. In addition they support Microsoft DDE standards and provide the customer with an example Access database as well as documentation. Since we plan to switch from the PC version of Claris Filemaker (we used to be on Macintosh machines) to MS Access, we like the idea that we can easily (well, maybe not so easily) integrate the two products such that we won't have to do the export from the invoice and the import into the credit card software. If there is a way to import and export data from ICVerify, I never found it. They sent me a developers kit, but no documentation to go along with it. RECOMMENDATION: For the general mail order merchant, PC Authorize wins hands down. While there are several changes I would make to the program and while I think it needs some additional reporting, this product is far and away better than ICVerify in terms of ease of use, overall functionality, and integration abilities. If you need some special features for a special class of business, ICVerify might be a better choice, but for the average mail order business or service provider (consultant, plumber, repairperson, etc.) PC Authorize is the program you want to get. While ICVerify will be coming out with a new Win95 product "real soon now", since they were six months late in bringing out their current Win95 version (promised in April, delivered in September) I would not hold my breath waiting. We purchased the PC Authorize program and had it running in production after about 8 hours of work in integrating it with our current system. We had it up and running stand-alone in 30 minutes. (Alan Blake is the author of ComputerMoney: Making It in High-Tech Consulting and The Silver Pen: Starting a Profitable Writing Business From a Lifetime of Experience --- A Guide for Older People, both of which are available in libraries, bookstores, and the publisher, Adams-Blake. Call 1 800 368 ADAM for credit card orders.) ++++++++++++++++++++++++ SMOKING OUT BUSINESS: THE
GIFT OF LIFE & GOOD BUSINESS Give yourself, loved ones and business the gift of life. Smoke-freedom! (see end of this article for a list of stop smoking methods) Roughly 450,000 people in
the US literally die of smoke each year (that's Workplace smoking causes lost
productivity due to smoking-related illnesses Here's what workplace smoking costs your business: - each smoking employee (including
you) costs you $4,000 to $4,600 a year The Americans With Disabilities
Act "makes it clear that you have a right to "What's this got to do with
my business?", you say. The Occupational Safety Under the proposal, smoking
would have to be either banned outright or Also challenges occur in getting
smokers to quit without disrupting Governments, including the
US, are taking action against smoking because it - US taxpayers pay $4 billion
on Medicare and Medicaid benefits each year Finally scientists have uncovered
conclusive proof, on the molecular level, You don't want to die, get
cancer, catch diseases, or have a stroke or heart PREPARATION: THE FIRST STEP
TOP 12 DO-IT-YOURSELF WAYS
TO QUIT SMOKING TOP 5 PRESCRIBED WAYS TO QUIT
SMOKING Stop smoking, save your money and your life. This article was inspired
by Arthur A. Hawkins II's book, "Smoke-Free: The ++++++++++++++++++++++++ NUTRITION AND YOUR BUSINESS
I know what you're thinking because I've heard it a thousand times. What in the world does your diet have to do with your business life?! Let me put it to you this way. Do you think you can be successful at whatever it is you do if you were to lose your health? I doubt it. So, why not take care of your health while you can and in the process be more successful in your business too? It was about a year ago that I first thought seriously about nutrition and eating right. Before that time, eating was just something I did to stop the my hunger pangs. I never gave it a second thought. I ate whatever I found and ate lots of it. Well, the reality was that I had never had any education in the area of nutrition and I was nearly 50lbs heavier then I am today. I never thought of myself as being overweight by more than "a few pounds." Did that affect my business? You bet! I was so much less energetic, quick to tire and found myself staying away from anything that seemed physically taxing. So what did I do? I gave up meat, all meat, and that includes poultry! I gave up dairy products of all kinds, including eggs and cheese. I added, all types of fresh vegetables, fruits, and grains to my regular diet. I made it fun. I looked at my new diet as an adventure and tried eating something new everyday. I begin each day by eating fresh fruit. The natural sugar burst you'll get from the fruit will be more than enough to get you up to speed in the morning. Imagine, a life without coffee. Wait a minimum of 4 hours
before eating lunch. Begin your lunch with a fresh salad. Lunch can also
include fresh dairy-free, and meat-free soups, vegetarian pizza, brown
rice and any number of fresh vegetable dishes. Keep clear of the breads.
These will make you gain weight and most of them contain dairy products
such as milk and eggs. Also watch For dinner, begin with a fresh salad. Then you can have whole wheat pasta, soups, and other vegetable dishes. Get yourself a good vegan vegetarian (vegan vegetarians do not eat any meat or dairy products) cookbook and try a new recipe everyday! Remember, the goal is the have fun and to enjoy your new diet. Never eat during the last 4 hours before you retire for the night. You don't want your stomach digesting and burning up all your energy as you sleep. Sleep is a time for your body to regenerate its energy. If you can do this for just ten days, I guarantee that you'll see an immediate change in not only your energy levels, but you'll also see a reduction in your waistline and an increase in your bottom line too! A year ago, I would have been skeptical, but today I live this way and teach others about this "magical" diet that helps not only the physical body, but the mind, and the sole too. You see, if you're happy about how you look and you feel great too, the odds of you being in a great mood most of the time are multiplied ten-fold almost by default! Go ahead, you owe it to yourself to try it for ten days. If you can't stand it and are not seeing the results you expected, you can always go back to your old ways… but you won't! (Mr. Imbriale is a nationally recognized business coach specializing in business development. For a free telephone coaching session contact him at roberti@ix.netcom.com, http://www.amabiznet.com, or 516 754 9144.) This article is an excerpt from a longer, more complete version that can be found in The Advisor page of The Small Business Advisor (http://www.isquare.com). ++++++++++++++++++++++++ ADVANTAGES OF INCORPORATING
One of the most important decisions that needs to be made when starting a business is selecting the structure or form by which the business will operate. The basic business organizational structures include the sole proprietorship, partnership, corporation (including general, close and S corporations) and the newest form of business entity -- limited liability company. The choice of a business structure depends upon many factors such as the nature of the business operation, the need for protection of personal assets from business debt, the intended division of earnings, need for capital, legal restrictions, tax advantages or disadvantages, number of owners or participants in the business and the planned life of the business venture. The general corporation is the most formalized form of business structure and is available in all fifty states. A corporation is a legal entity that is owned by shareholders. General corporations may have an unlimited number of shareholders that, due to the separate legal nature of the corporation, are protected from creditors of the business seeking to attach personal assets. Advantages of incorporating include: · Owners' (shareholders)
personal assets are protected from business debt Corporations are also able to take advantage of a type of corporation tax status known as an S corporation. Essentially, owners of a corporation with the S corporation tax status treat income or loss as though they are a "partnership." The income or loss passes through the corporation and is reported on the owners' personal tax returns thus avoiding the much higher federal corporate tax rate. In addition, S corporations are able to avoid the "double taxation" of general corporations in which profits are taxed once at the corporate level and again as personal income (i.e., dividends, etc.). To form an S corporation, you must first form a general or close corporation. Within 75 days of forming the corporation, all of the shareholders must elect the S corporation status by executing federal form 2553. S corporations are restricted to no more than 35 owners, may only have one class of stock, and all shareholders must be individuals and U.S. citizens. Before deciding upon a business structure, it would be prudent to review all options with an attorney, accountant or other business advisor. While a corporation is a very desirable and common form of business structure, it is not necessarily the best choice for everyone. (Corporate Agents, Inc., a nationwide incorporation service company, specializes in assisting entrepreneurs, accountants, and first-time incorporators. For more information, contact Corporate Agents via e-mail (info@corporate.com) or visit their online Business Incorporation Guide at www.corporate.com. Corporate Agents, Inc. is an incorporation service company and does not provide legal, financial or accounting advice.) [Advisor comment: Don't forget to look into the LLC as a possible business structure - it can provide some very unique advantages. Ask your professional advisor for details] ++++++++++++++++++++++++ 1997 RESOLUTIONS FOR YOUR
BUSINESS As you look ahead to 1997, here are ten New Years Resolutions that will transform your enterprise: 1. Focus on vision and accelerate your progress - Establish a powerful picture of your preferred future as you want it to be in three years. Use this vision as a guideline for all 1997 decisions, plans, communications and actions. Progress is a result of a creative relationship between the present-day 'you' and the future 'you'. To achieve an extraordinary preferred future, something has to change. You can't just keep doing what you've been doing and expect anything other than what you've been getting. Performance guided by a crystal-clear vision leads to extraordinary breakthroughs. 2. Focus on free time and turbocharge your productivity - Free time isn't a reward for working hard, it's a necessary prerequisite for optimum productivity. We need free time away from the business to rejuvenate ourselves. Proactively allowing for rest, relaxation and rejuvenation, regularly and frequently, leads to increased creativity and productivity. The more free time we take, the more creativity and productivity we will experience. In order to make breakthroughs in income, productivity and creativity, it is necessary to significantly increase the amount of free time away from the business. 3. Focus on cleanups and feel your energy soar - We all have 'messes' in our lives. 'Messes' are situations of disorder, conflict and incompletion that cause you to be distracted, lose energy, break concentration and reduce confidence. Messes can include finances, relationships, physical well-being, agreements and legal contracts. Each time you clean up a mess, you increase concentration, confidence and energy. For 1997, target a mess a month. 4. Focus on delegation and increase your income - Business owners and professionals won't delegate because they 'can't find anyone who can do the job as well as they can'. With today's vast electronic networks, we now have the ability to link up with the best people in the world. Some may be contractors for you, some could be employees, some might be strategic alliances. Stop trying to do everything. Superb results come not from a single individual, but rather from teams of individuals, all working within their own distinct areas of expertise toward a shared goal or vision. You've heard of the 80-20 rule -- 80% of your meaningful results come from only 20% of your activities. Each time you delegate some of your less productive activities, you multiply your effectiveness.... and your income. 5. Focus on new capabilities and boost your confidence - A capability is anything new that gives you increased ability to accomplish your goals. New capabilities can include: skilled people, use of technology, new skills and knowledge, new products and services, and new systems and methods. Whenever you feel frustrated by the complexity of your business, it means that you've gone as far as you can go with current capabilities. It's time to develop new capabilities. Target seven for 1997. 6. Focus on value and deepen relationships - Your economic opportunities lie in other people's future. You will succeed in your enterprise to the extent that you help other people to exceed in their lives. Ask every person you encounter what they want to have accomplished three years from now. Focus your entrepreneurial efforts on assisting others in achieving their goals. By adding value to their preferred future, you not only deepen your relationship, you also create huge opportunities for yourself. 7. Focus on your strengths and delegate weaknesses - Conventional wisdom says we should work on improving our weaknesses. This is a terrible waste of time, talent and opportunity. Highly successful entrepreneurs, as well as top scientists, artists, athletes and entertainers throughout history have achieved greatness by focusing on their areas of strength. Everybody has a natural aptitude in certain areas. No matter how hard you try, it is unlikely you will ever be more than average in areas where you do not have an aptitude. Continuously working on your weaknesses undermines your self esteem since you will focus mostly on your deficiencies. On the other hand, developing your natural talents is self rewarding and motivating, allowing you to continually realize higher and higher levels of ability, achievement and success. This year, experience the immense satisfaction that comes with being superb at something. 8. Focus on habits and
forget about discipline - Everyone is already completely disciplined...
to their existing set of habits. We have work habits, relationship
habits, health habits, and so on. Each of us has a full set of habits
which regulate most of our behavior. Progress in life is not a result
of more discipline, but rather of developing goal-directed habits.
Are your habits working for you, or against you? As you know, it
takes about 21 days of daily repetition to establish a new habit.
Generally, you can develop only one habit at a time. Over the course
of 1997, you can establish seventeen new, productive habits, thereby producing
extraordinary 9. Focus on your attitude and improve your altitude - Our behavior, our decisions, our actions and our results are based on our beliefs and attitudes. When we feel strong, confident, knowledgeable and competent, we will act that way. If we feel tired, depressed, incapable or weak, our behavior mirrors our feelings. How do we change the way we feel? By changing the way we talk to ourselves, we can manage our feelings and therefore our behavior. Most people verbally beat themselves up all throughout the day. When things go awry or we make a mistake, we criticize ourselves terribly. Let's remember that mistakes are the fuel of creativity. If we're not making mistakes, we're not doing anything worthwhile. Just say to yourself "OK, it happened. Now, how do we deal with it and avoid this next time?" 10. Focus on quality of life, and enjoy a life worth living - Researchers have said that only 4% of people enjoy both their work and their personal life. Make 1997 the year that you create balance in your life. Use your skills in goal setting and your persistence in achievement to develop a higher quality of life. Set and pursue goals in each of the value centers of your life: family life, physical well-being, your spiritual journey, intellectual growth, social involvement, and, of course, your financial health. By developing balance in your life, you will increase your energy, motivation, and your sense of satisfaction. In other words, your happiness. Most people are as happy as they choose to be. (Gary Lockwood is a Business Coach and Speaker, and publisher of the BizSuccess Coaching Program(TM). He can be reached toll-free at 1-800-272-1575 or email MyBizCoach@aol.com) Return to top of page - Back to Home Page - Back to Archive Index |