Whether you are an ebook author/publisher or a print book author/publisher, you can get your unique, helpful information out to your audience. You'll help make other people's lives better, become a household name, gain clients, sell more books and make much more money when you design each part of your book to attract more readers.
Format and design your book's insides, front and back matter so it will sell the minute you publish.
Book Designing Check and Correct List For your Book's Front and Back Matter:
1. Put book cover in 4-color design as first page. Rather than do it yourself, hire a competent cover designer. For business books, check out MaxCovers.com. He designed four for me.
2. Create a title page after the cover with your publishing information, and copyright.
3. Make an extra testimonial page to insert right before your table of contents. Testimonials from the rich and famous, media, man/woman on the street, and happy readers convince others by their endorsement to make your book a top seller.
4. Include a list of your other books right before the table of contents to widen sales.
5. Create a table of contents (your chapter titles) and place below it your complimentary free bonus report title(s) and where to find them.
6. Put your one page sparkling "mini sales letter" introduction right after the table of contents.
7. Redesign of all fonts so your book will be easy to read. Easy to read books are the number one way to sell more books. Ordinary fonts are Arial and other sans serif fonts for the headings and Times Roman and other serif fonts for the copy.
8. Put in proper headings at the top and bottom of each page in the headers and footers. Put the title and page number at the top, and your name and Web site URL at the bottom.
9. Put the whole book in Portable Document Format PDF as well as Microsoft Word. You can edit the Word copy, and allow your customers to download the PDF file unless your offer your book via toll-free number. While PDF is not foolproof safe, it's a common form and if passed on doesn't allow they person to edit it. With your name and Web site there people know who the expert is.
10. List your products and prices at the end of the book along with a page on your coaching, speaking, or other services. You may want to add benefit-driven annotated table of contents for your other books at the end too.
When you include all these parts in your book, your increased new sales will surprise you.
Judy Cullins ©2006 All Rights Reserved.
About The Author
Judy Cullins, 20-year Book and Internet Marketing Coach works with small business people who want to make a difference in people's lives, build their credibility and clients, and make a consistent life-long income. Author of The Fast and Cheap Way to Explode Targeted Traffic and 11 others, she offers free help through her 2 monthly ezines, "The Book Coach Says. . .," and "Business Tip of the Month." at www.bookcoaching.com. Email her at Judy@bookcoaching.com or Cullinsbks@aol.com.
Getting paid. Isn't that the ultimate goal from each and every sale? It had better be, or you are in the wrong business! Why are you in the selling profession? It certainly isn't the easiest job. It certainly is not a career for everybody, and everyone is not qualified or capable to be in sales. At the core, we are professionals drawn to the potentially high level of earnings available. There are the scheduling freedoms, the new experiences every day, the self-discipline, the interaction with a variety of people, the networking, the fun and so much more that entices us to be in the selling profession. Typically however, we do not get paid until the customer pays for the goods and services rendered. It is extremely important to make certain that this happens, and in a timely manner.
Every salesperson has experienced the agony of having performed his duties absolutely correctly up to the point of the customer paying their bill, only to find that there has been no payment made, hence, no commissions earned. During the last few years, more and more companies have downsized or shut their doors for good, often with outstanding bills to pay. Lawyers, collection agents and sometimes the salesperson herself are employed in the effort to collect funds from delinquent accounts. It is not a role that we find comfortable at all.
How do we insure that our efforts are rewarded? How can we be certain that we will indeed see our commissions paid in a timely manner, or at all? Although there is no absolute guarantee, there is one technique that will certainly reduce or eliminate the incidence of non-payment and no commissions. They key to receiving commissions in exchange for our selling efforts is in the qualification process.
Do you really want to sell to just anybody? Do you really want to go out blindly and spend your precious resources attempting to develop an account that will never blossom into a paying customer? Aren't you really interested only in those prospects who have demonstrated a need for your product or service, who are ready to buy now and who have a proven track record for paying their bills promptly? Sure you are. These are the only type of prospect we should be interested in. When I investigate a new prospect, I have learned that it is critically important to pre-qualify them from a payment standpoint at the same time that I qualify them as a solid prospect, worthy of my additional sales time. It is not sales arrogance being demonstrated, but sales intelligence.
Spend your time wisely. Learn everything possible about each prospect, especially their current financial condition and payment history. In this manner, your selling time is rewarded by earned commissions, not endless headaches because of deadbeat accounts. It is somewhat akin to getting paid in advance!
Copyright 2005 Daniel Sitter
About The Author
Daniel Sitter is the author of the popular, award-winning book, Learning For Profit. Designed for busy people, his new e-book teaches simple, step-by-step accelerated learning skills, demonstrating exactly how to learn anything faster than ever before. Learning For Profit is available at the author’s web site http://www.learningforprofit.com and from numerous online book merchants. Mr. Sitter, having extensive experience in sales, marketing and personal development, is a frequent contributor to several publications.
The property market in Spain has been a vexed area for investors recently. The end of the boom years, the credit crunch and recent demolitions of homes that breached planning regulations are all major hits from which some markets might not recover.
Yet those looking to invest in property in Spain may be surprised to find that the country is not out for the count. Some areas may be a bit bruised but, it appears, others still pack a punch.
Huelva, for example, is a location which may become a major hotspot, the Daily Telegraph reported today. However, it notes, it is not at the moment, being home to just one per cent of the 800,000 new properties constructed in the country in the past year.
Yet this area, the paper notes, offers white sandy beaches, lots of southern Spanish property sunshine and distinctly cheap spain properties. Isolated from the rest of Andalucia by the Donana national park which lies inland (offering a further scenic attraction for visitors), it sits in a quiet spot between the two honeypots of the Costa Del Sol and the Portuguese Algarve, whose property prices are twice as high
At present this quiet corner may offer a cheap and peaceful alternative for those wanting to get away from it all but willing to put up with flying into Portugal and then travelling across the border in order to get there. But this situation will not last for much longer, as Huelva's own airport will open in 2012. Those who buy there now may find their property soaring in value once the cheap airlines start arriving.
Of course, there are other opportunities in areas which some may have neglected too. For example Murcia, a region which has seen its coast covered in golfing resorts, is now finding that its boom towns are mainly inland, reports Homes Worldwide.
The portal notes that eight of the ten most popular towns in the region are now inland, with prices rising, according to Spanish property website Kyero.com.
Moratalla was the most successful of these with a 50 per cent rise in prices between 2006 and 2007, while Jumilla saw a 25 per cent increase. However, this still left the average price at €124,000 and €173,000 (£93,000 and £130,000) respectively, hardly excessive for a British investor to afford compared with prices back home.
Of course, buying property in such places as inland Murcia in the expectation of continued rising prices, or in Huelva in the light of its future prospects may pass many people buy. For some it may be because they have remained interested in the crowded, familiar places where so many others have already been. Alternatively they may have read the headlines and abandoned Spain favour of other markets. Either way, those who ignore the prospects still offered by Spain's new hotspots may soon be kicking themselves.
In today's world Property investment is an excellent investment option especially investment in UK
About The Author
Jim Barnaby is a real estate investment broker and successful property investment adviser delivering research and selected UK and overseas property investment solutions with experience in spanish properties, french property investment, German property, Cyprus holiday homes, Property in Cape Verde, German property investment, cape verde property buy to let property.
http://cape-verde.assetz.co.uk/
LIVING IN CREDIT CARD UTOPIA
Let’s just take a brief moment to recap:
If you’ve been following along on this journey with me, learning the 5 Super-Charged secrets to Credit Card Utopia, then you now know 4 very important things:
1. You now know how to take advantage of zero to low interest credit card offers.
2. You now know that there is safety in numbers, and you know the magic “Who’s Who” of the major credit card companies. You know that one of them, in my opinion, stands out for consumers.
3. You now know how to take a low interest credit card with a rewards program, and convert it into a money making technology that could seriously improve your financial house.
4. You now know how to work with merchants to harness your consumer buying power, even if you have bad credit, so that you can get low interest, incentives, and discounts through buying on credit.
With me? Good. These are all essential foundations that you need to follow in order to live in Credit-Card Utopia with me.
And NOW…On to the FINAL, most important, MOST significant secret that I have to reveal…
Secret # 5 revealed: Living in Credit Card Utopia:
1) I live in a world where there is no such thing as interest rates. There is zero interest, zero annual fees, membership benefits, and perks.
What world do you live in?
2) I live in a world where consumers are the ones in the drivers’ seat. We are powerful, powerful creatures, us buying-spending-consuming maniacs. We have the power to make our own choices about how to wield this mighty sword.
Are YOU a powerful creature?
3) I live in a world where plastic is a money-making technology. I don’t live for plastic, and plastic does not own me. I am my own person, beholden to no one. But, plastic and I…We’re business partners. At the end of the year, plastic sends me a big fat check for thousands and thousands of dollars, and I take my family on a KILLER vacation.
Are you in business with plastic?
4) I live in a world where nothing is impossible. Life presents obstacles, and I overcome them. NO BIG DEAL…So, while you may not be able to get into the pearly gates of Credit Card Utopia right now….Enjoy sitting on the front porch, bartering with merchants, while you get your ducks lined up in a row.
Are you lining up your ducks?
5) I live in a world of goals, objectives, action plans, deadlines, and in Credit Card Utopia, good things don’t come to those who wait…Good things come to those who take ACTION, and move towards their goals.
Do you take action?
Do you have goals?
Are you working towards improving your life?
LIVING IN CREDIT CARD UTOPIA
In Credit Card Utopia, I am totally, totally satisfied. I am at peace with my credit cards, and they love me. We are the elite few. We are the ones that enjoy low interest rates, cash-back at the end of the year, and perks, perks, perks.
And I want you here with me. There is no limit to how many of you can join me, in Credit Card Utopia…There is no population growth control, no capacity restrictions, no ceilings.
This is Credit Card Utopia. All are welcome here.
So, open your mind.
Open your creative mind, and look at your life as a template for change.
Look in every corner and every crevice, and start clearing away the cobwebs and dust-balls of your structured thinking. Find answers. Find solutions. Don’t limit yourself.
Stop thinking like a box, and start thinking like a winding, swirling, ever-changing thread of energy.
Living in Credit Card Utopia, is not about following steps 1 through 5 (although I gladly provide you with mine).
Living in Credit Card Utopia, is about following strange journeys carved out by mysterious neurons in your brain, to solve problems.
I’ve given you 5 creative ways to tackle plastic. But, for my 5 super Turbo-Charged secrets, there must be thousands, thousands more.
Living in Credit Card Utopia, is about looking at your obstacles, and converting them to opportunities.
Living in Credit Card Utopia, is about taking all your assets, and maximizing them to your highest advantage.
Living in Credit Card Utopia, is EASY…If you just open your mind to the freedom of possibilities.
The only restriction you have, the only thing that prevents you from coming up here with me, the only thing that is getting in your way….Is You….
WAIT A SECOND, WAIT A SECOND!!!! STOP!!!
So what IS secret #5, Tom? I’m confused. What are you saying? What is this secret, “LIVING IN CREDIT CARD UTOPIA?” Spell it out for me. I don’t get it…It all sounds really esoteric, and mumbo-jumbo-ish... Come down from la-la land, and tell it to us in plain, simple talk.
I hear you cry.
Let me rephrase,
Let me put it another way,
Let me finally throw all my cards on the table...
If you want to “BE” Like me,
And all us Utopians up here….
Then you need to LIVE…
More…
Like a Utopian.
Still unclear? You know, there’s one person that can explain it better than I…Go ask your 5 year old daughter.
She understands. It’s the way she is learning, to be just like you.
That’s secret #5, and it truly is the most important one.
Welcome to Credit Card Utopia.
We’ve enjoyed providing this information to you, and we wish you the best of luck in your pursuits. Remember to always seek out good advice from those you trust, and never turn your back on your own common sense.
Publisher’s Directions:
This article may be freely distributed so long as the copyright, author’s information, disclaimer, and an active link (where possible) are included.
Disclaimer: Statements and opinions expressed in the articles, reviews and other materials herein are those of the authors. While every care has been taken in the compilation of this information and every attempt made to present up-to-date and accurate information, we cannot guarantee that inaccuracies will not occur. The author will not be held responsible for any claim, loss, damage or inconvenience caused as a result of any information within these pages or any information accessed through this site.
About The Author
Tom Levine provides a solid, common sense approach to solving problems and answering questions relating to consumer loan products. His website seeks to provide free online resources for the consumer, including rate-watch, tips and articles, financial communication, news, and links to products and services. You can check out Tom's website here: http://loanresource.org, or you can email Tom at info@loanresource.org.
LEAN MANUFACTURING”, you hear it everywhere, everyday, you can’t escape it, but what is it? We all have our ideas, however, if you haven’t been formally trained or deeply involved, odds are, you’re thinking only of the cost savings side. Think back when ISO became all the rage. The basic understanding was that we would hire a quality engineer, put some standards and checklists in place, and magically, all our problems would be solved. In a short amount of time and with a reasonably small budget; our defects would vanish, our lead times and inventories would shrink, the customers would beat a path to our doors, and our profits would soar. Company after company embraced the concept, and a considerable percentage of those companies soon abandoned it as too costly and time consuming when compared to the immediate financial returns.
Now, as we are deeply entrenched in the lean manufacturing era, most small to medium businesses are of the same mindset. Just as we saw company after company abandon the ISO certification process because it was too time consuming, costly and wasn’t bringing those throngs of customers to our doorsteps, so too are many companies abandoning, or in many cases, taking only a random or unsystematic approach to this concept.
The major stumbling block to achieving a successful lean approach is usually shortsightedness. We mean well, we want to improve, but we really don’t have a genuine understanding of what is involved. For lean to work we need to approach it as a long term solution that requires continuous attention, involvement and commitment.
Any Improvement Practice MUST:
• be viewed as a major overhaul and not a short term fix
• be forward thinking and take a long term approach
• be driven from the top down
• involve all departments and personnel, especially upper management
• account for those processes, procedures and tasks that do not currently exist, but are essential to the success of any program
• follow a detailed plan
• be well documented and controlled
• be allowed to grow and adapt to your changing needs
• have a committed, long term, budget and resource pool
• have well defined goals that are reasonable and achievable
• celebrate success, and
• share the wealth
LONG TERM METHODOLOGY
Lean manufacturing is a continuous and living entity. To approach it as a quick fix that will bring increased profits and efficiencies is a guarantee of failure. Although the lean process has been documented in countless papers, lectures, seminars, and accredited training programs, many organizations lack even the basic fundamental processes and tools needed to implement lean manufacturing. Most failures can be attributed to this lack of a solid foundation on which lean will be built, and as a result, we are quickly overwhelmed by the amount of work and capital that must be spent before we can even begin to implement the lean initiatives. In a relatively short time we lose enthusiasm, get increasingly bogged down in seemingly mundane tasks, we eventually succumb to immediate time and budget constraints, and before we realized it, the program has been pushed to the back seat or shelved altogether.
TOTAL COMMITMENT
To be successful, any program which requires us to stray from our normal day to day behavior patterns has to be embraced and driven from the top down. This approach lends credibility to our actions, provides visibility of our endeavors, and assures motivation and direction will be maintained. Anyone who has tackled lean manufacturing will tell you it is a constant uphill struggle that requires leadership with a strong will and an ambitious outlook. The major players need to be forward thinking, self motivated pioneers, who can look at the big picture and effectively break it down into smaller manageable tasks that move the project ahead one step at a time. Team leaders must possess an inherent ability to fully understand the day to day operational procedures of the company and to pull all departments together in a common purpose toward the same goal. Managements’ direct participation is essential in providing the support, motivation and cooperation of everyone involved. And make no mistake, everyone must be involved.
GROUNDWORK
Though the fundamental procedures outlined in the lean initiatives seem simple and systematic at first glance, implementation of these principles can be overwhelming. For instance, taking a close look at those processes that are too long or wasting valuable time and improving on those numbers through proven manufacturing methods is in itself somewhat obvious, but exposing those processes often is not. How do you know what processes are questionable? Do you have valid, proven process sequences? Do you even have documented process models? Are these sequences measured against valid cost studies or accurate estimates? Before you can begin to solve problems you will need to put into place all those procedures, time studies, controls, records, documents, etc. Who will perform this work? Are they capable of managing these tasks in addition to the daily workload? These are just a few of a multitude of tasks that will be required before the actual cost saving can begin, and it is precisely at this point that the project begins to lose effectiveness.
You are suddenly faced with mountains of work that drain resources and don’t show results on the bottom line. Experienced personnel are reduced to clerks, measuring and documenting data. The forms and documents produced are not universal across all departments. There is no system in place to file, maintain or control the mountains of paper and the endless sea of data collected. More often than not, as the day to day problems continue to pile up, you are forced to commit your resources to keeping the company afloat and lean manufacturing fades into the background.
GOAL DRIVEN
Only by having well defined goals can you hope to succeed. Outlining precisely each and every task that will be required, not just on the improvement side, but in developing the basic infrastructure that will be required to implement those improvements, will put the project in perspective.
Once you have a complete and concise understanding of what is truly involved you can determine reasonable time frames, budget resources accordingly, assign the appropriate personnel, and develop acceptable expectations. Break the processes down into smaller, more manageable tasks that can be scheduled into reasonable time frames. Commit to addressing these tasks on a regular basis. And most importantly, understand that it is going to take time.
Take advantage of the projects you’ve identified to groom your employees, set long and short term goals, involve your entire organization and truly promote that team approach we all claim to practice. As goals are met, publish your success and reward the participants.
Taking small steps in the early stages has several key advantages. This allows for small successes to be realized which foster a sense of worth in those involved as it provides a means of gaining experience and confidence to take you to the next level. Smaller projects take less time, tie up significantly less capital, and still provide the ability to handle your day to day business. These smaller projects facilitate two major advantages which are often overlooked. First they generate savings that can be used to offset current losses in poor productivity and inaccurate estimates which can defer the costs of overtime, additional equipment and customer dissatisfaction. And secondly, they provide a means to identify and finance your future projects.
ADAPTATION
No matter how accomplished you become in the short term, continued long term success can only be achieved by the realization that the system, complete with all is procedures, documentation and controls is a living entity and it must be allowed to grow and adapt. If you think you will get it right the first time, every time, you are destined to fail. As you improve your processes you will inevitably become aware of opportunities that were previously unforeseen. Changes in company direction or market demands will move you into new territories and you will need to adapt quickly. If something doesn’t work as well as it should, change it. Don’t be afraid to admit your shortcomings. Audit your systems, evaluate your controls, assess your needs, and when warranted, adapt your system so it serves your purpose.
DETAILED DOCUMENTATION AND CONTROL
Documentation, documentation, documentation, it can’t be said enough. If there is one place that begs to be overlooked it is proper documentation. Record keeping is a mundane and time consuming effort that is most often incomplete or ignored altogether. Documentation should be approached as a tool that provides many advantages: examples of our successes and failures; milestones of our progress; foundations for value stream mapping, process maps and work instructions; quality, safety and process controls; and an excellent means of disseminating information within the organization or publicly.
Documenting successes provides substantiated evidence of cost saving which can be utilized to bankroll future projects or new equipment and personnel in addition to being a great source of direction in moving the program ahead. If a particular solution to a problem in one area yields impressive results, it only makes sense to adapt this solution to other processes or problems within the company. We are very good and documenting what “went wrong” and trying to prevent it from happening somewhere else, but all too often we overlook the opportunity to take what ”went right” and apply it across the board.
No matter how successful the program becomes at improving the processes, without proper documented controls in place, things will inevitably return to their old problematic ways. Controls are our best means of insuring what was put in place remains in place. It also provides an avenue to review our accomplishments from time to time to ensure things haven’t gone awry. When new problems arise, the first place we look is to the controls. How did this happen? What can we do to prevent it from happening again? Properly developed controls will tie us back to supporting documents which can be a great source of trouble shooting. They give us concrete data to determine if the process itself needs changing or if the process is not being followed. It will illustrate lapses in training, inspection, materials, maintenance, etc., and quickly point us to the root cause. In addition, properly documented procedures will alert us to other areas that might be prone to the same setbacks.
DISSEMINATE AND CELEBRATE
Success is important to the progress of any endeavor and, therefore, should not be ignored. Success should be celebrated, often. The tendency is to wait until a project is complete and all the savings have been tallied before we think of celebrating the accomplishments. This method, however, will usually be seen as too little, too late by many of the individuals involved, and in some cases, invariably tends to overlook some of the participants. Each and every person involved did his or her part, each individual will view their contribution as important, and each participant will consider their input as having come about through hard work and added effort, above and beyond their day to day responsibilities. By celebrating success as it happens, no matter how big or how small, everyone involved will not only feel appreciated and important, but motivated and driven to succeed further. Acknowledgment of a job well done promotes the spirit we all want to see in our employees and co-workers, it instills pride in their work, and it fosters a sense of worth that culminates in a workforce that looks for problems and willingly brings forth solutions. Participation on a team will no longer be viewed as an added burden to an already heavy workload, but an honor and a responsibility. This ethical mindset will bring more to the bottom line and the future success of your business than you can imagine.
SHARE THE WEALTH
Don’t stop at simply celebrating your success, share the wealth. The old school approach has always been that since the company footed the bill to complete the projects, purchase the equipment, rearrange the facility, etc. they should reap the rewards. You’ll discover that sharing the savings will go much farther and pay higher dividends than pocketing the profits. Sharing the wealth shouldn’t be seen as distributing the cash, but reinvesting in the company. Reinvesting in equipment, facilities, personnel, and let’s not forget, reinvesting in our customers.
As your success mounts, your business will grow, your profits will increase, and so too will the workload placed on your employees. You’ve already invested heavily in the training and development of your personnel; you don’t want to lose them now. In all actuality, you should be looking to your employees to take on more of management roll than a laborer attitude, to mentor and train your new hires, and to apply their experience in finding and minimizing defects in the system.
Nothing will stop a person dead in their tracks and send them packing than the thought that their hard work was taken for granted. So make sure the raises you give out are commensurate with the employees’ worth. Increase your perks and benefits; sick days, flex time, education, team building activities. Promote from within. Make it a given that when a person embraces the responsibilities imposed upon them, that the experience gained has value and that as the company grows so will its’ employees. Why would you take a chance hiring an unknown when a perfectly capable leader is already on the premises? It is important to keep this in mind when setting employee goals and determining what training you will provide. Make a commitment to grow your employees just as you have committed to growing your business.
Spend some of that money on improving your equipment. Get that newer, faster, more accurate equipment on the floor; it will increase throughput and productivity, keep you on the leading edge of technology, and open new doors to capabilities and customers you didn’t have before. Purchase software to reduce the documentation burden, improve the look and conditions of your facility, and hire a higher caliber of employee.
And don’t forget about your customers. Passing a significant amount of your savings on to the customer will pay back exponentially. By reducing your costs you demonstrate a commitment to improvement and cost control, you also lend credibility to your organization much more than you might think. When everyone else is raising prices and tacking on surcharges, if you can hold, or better yet, reduce prices, who are your customers going to deal with? You’ll not only retain the customers you already have, but you’ll attract new ones looking to increase their own bottom line. Additionally, when you inevitably underestimate that one quote, you’ll stand a better chance of having your customer accept an adjustment. If you can demonstrate time after time that you are reducing your pricing, when the time comes that you need to raise one, your customers will be much more willing to accept it and still feel confident that overall, they are still getting the best value out there.
So don’t shy away from lean manufacturing, embrace it, it is vital to your future. If you approach the concept with an open mind, look to the long term, and strive for a continuous routine of improvement you will be successful. Keep in mind there is no finish line to reach; true success is found in the continued pursuit of improvement.
About The Author
Mr. Cavalluzzi is the founder and owner of CONSOLUTE, LLC engineering support and consulting services providing site search, industrial, manufacturing and design engineering support. His extensive background in engineering dates back to 1978 and includes the robotics, automotive, aerospace, metals and plastics industries.
Visit them at: http://www.CONSOLUTEONLINE.com
The author invites you to visit:
http://www.consoluteonline.com
Doing business in California is not an easy task for it involves intricate processes and effective managerial skills. Without enough knowledge of the law, you will most likely lose your assets especially if your company was charged in court due to law violations.
In whatever business you have in California, the need for a competent and credible corporate lawyer is always imperative. This is because managing a company entails significant risks of facing legal charges arising from negligence of duties, product defects and employment disputes. It is your obligation then, to secure your assets against any threats resulting from your different corporate dealings.
Avoid Legal Problems
Since it is not that easy and inexpensive to put up a company, it is wise enough that you follow some tips in order to prevent legal obstacles that may ruin your smooth business operations. By doing these, you may have lesser chances of having the need of business litigators to defend you from possible charges.
• Learn the basics of the California Corporations Code so that you will be able to understand your company’s rights and responsibilities.
• Be sure to consult your business lawyer before signing a contract or agreement with your clients and business associates.
• Let your legal counsel review your employment policies before implementing it. This is to certify that your employment procedures and guidelines meet the boundaries of the prevailing laws.
• Be well adept with the latest law provisions regarding acquisition of business trademarks and patents.
• Know the law fundamentals associated with the type of company organizational structure that you have.
Protecting Your Business Assets
Another way of protecting your business assets is through the process of incorporation. Depending on certain conditions, you may utilize these two types of incorporation processes:
Single Incorporation – this legal procedure gives you a guarantee that your personal properties will not be affected in case your company has been charged and subsequently punished by the court. Although such court judgment may result to the loss of your business assets, your dwelling, bank accounts stocks and other personal assets will not suffer any negative impacts.
Double Incorporation – this process guarantees protection to your business assets including machineries and vehicles. If you create two different business entities, “at risk” and “holding corporation”, a customer or client who files his charges against the “at risk” business that interacts with him will be forced to enter into lesser settlements.
This is because the holding company, which leases the “at risk” company’s pertinent assets, may just recover these possessions when legal hindrances occur – leaving the “at risk” company with minimal assets to be used in paying the plaintiff.
To further understand the process of incorporation and the laws behind it, you will need the aid of a professional business litigator who has the expertise in handling legal aspects of doing business.
About The Author
To help you deal with issues on business litigation, consult with our experienced business litigators. Visit our website at http://www.mesrianilaw.com/Business-Litigation.html for more information and call us toll free for legal assistance.
The author invites you to visit:
http://www.mesrianilaw.com/
More from this Author at http://www.mytradesignals.com
Many people enter into trades with little more than a desire for profit. In Forex we normally use between 50 – 400 to 1 leverage. Because of the large amount of leverage we are able to use, simply hoping for a profit is not enough. Traders need a solid plan before the pull they trigger. When planning any battle, successful generals begin at the retreat and work their way backwards. Traders should do the same. The first and most important decision is when to admit defeat and retreat. Survival to fight another day is more important that going down with the ship. This article proposes that traders take a different approach to figuring out when and where to place their next trade. The approach is simple. Just like the generals, start by figuring out when to get out. This may sound strange, but if you apply this idea to whatever other methods you are using to determine your entry signals, your bottom line should improve. The overall idea is simple, rather than first looking for a good entry point, look for a point where you would want to be stopped out. At this point you are probably saying “who ever wants to get stopped out?”
The answer is, not the majority. But let’s look at several statistics for a moment to get some perspective. Depending on who you believe, anywhere between 75-95% of all retail Forex traders blow out their account within one year. So it seems that the 5-25% of traders who are winning are doing something different then the majority who are losing. One of those main differences is not being bothered by getting stopped out. Many new traders complain that they hate trading with stops because they have been stopped out of a trade that almost immediately turned around and would have been a huge winner had they not run the stop. They take that to mean that they should not trade with stops. Trading without some kind of risk management is like playing Russian roulette by yourself, it may not be the next pull of the trigger that kills you, but pull it enough times and sooner or later it’s a sure thing. Trading without risk management is much the same. You may get away with it for a while, but the lesson you are learning will sooner or later prove deadly.
There are many forms of risk management, from the extremely complex, like cross hedging with options, to the very simple, such as using stops. The use of stop loss orders is one of the simplest and often most effective way to manage the risks of any given trade. The reason many traders have had a bad experience with using stops is not the fault of the stop itself, but rather the placement of the stop. Most traders get into a trade and then decide where to run a stop, if at all. They often have a fixed dollar amount that they are willing to risk per trade and they then place the stop loss order accordingly. All of this on the surface sounds like a good plan, but in practice it often leads to the scenario mentioned before, where the trade gets stopped out and then the market turns on a dime and goes the way the trader had originally anticipated, leaving them to mistakenly blame the stop. The individual points that led to the stop being placed are not bad in and of themselves, but put together this way, they often lead to the frustration mentioned above.
So let us look at these issues from another angle. Rather than getting into a trade and then deciding where to get out, let’s determine the exit point and let that dictate where we get in. To do this you will need a chart. Choose the chart’s time-frame based on how long you intend to hold the trade. If you only hold your trades for a few hours then a 15 or 60 minute chart should be fine. If you are more of a swing trader, then daily or even weekly charts would be best. Currencies tend to trend more than most other markets. However, they do not trend all the time. In fact the opposite is true. Most markets only trend about 30% of the time. The remaining 70% of the time they are trading within a range or chopping. Therefore, learning how to trade the chop is paramount if you want to be a trader for years to come. What follows is a simple yet effective way to trade the chop.
Trading the Chop
First, start by looking at long term support and resistance zones. Markets tend to have certain zones that they “bounce” off of time and time again before penetrating them. These zones are what you want to look for. Start with weekly or even monthly charts, no matter what time-frame you trade in. This will tell you in an instant whether the market is trending or choppy. Once you determine the underlying market condition, look for significant areas of support and resistance. Finally, move to a daily chart and then to a 60 minute chart. After going through these different time-frames you should be able to find a number of these zones. The best are those that coincide through all the time-frames. That will only happen if the market is at or near relative new highs or lows. When it does happen, though, it is time to sit up and pay attention. However, you do not need to wait for perfect conditions to use this method. You only need a support or resistance zone in whatever time-frame you are comfortable trading. Once you have identified these areas on a chart, you need to look closely and determine where that level would be broken and place your stops accordingly. A move through this level would signify that the market is breaking out from the previously established range. Once you find what the highest high is in the case of a resistance level, or lowest low in the case of a support level, you need to go a certain distance beyond that so you are not stopped out by a move of only one or two pips beyond these levels.
There are many ways to determine how much extra distance to give each market. One way that I have used is to simply look for the next closest Fibonacci number. This method is not scientific, but one that has served me well over the years. The Fibonacci sequence is one that was discovered by a mathematician all the way back in 13th century. The sequence is as follows: 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144… For the purposes of using them for stops I normally only use 8, 13, 21, 34, 55, and 89. So if the last two digits of the highest high in a resistance zone had been 25, then you would use either 34 or 55 depending on which particular market it is in. The more volatile, or greater the average true range (ATR), the wider you should go.
Once you identify the zone you can then come up with your exact stop point.
Look at the daily chart of the USD/JPY and you can see that we have had significant resistance between roughly 121.50 and 122.25. Each time the market has reached this zone it has failed to follow through. There have been three attempts to break out from this zone, each one being lower than the last, forming a descending trend line. This is what you want to look for. Once you identify the zone you can then come up with your exact stop point. Simply find the recent highest high, in this case 121.66, and then find the next closest Fibonacci number (89) and you have your stop (121.89).
Determining your entry point
Now that you know where you are going to run your stop you can use that to determine your entry point. This is the point where you want determine how much actual money you are willing to risk on the trade. Most money managers will tell you to never invest more than 1% of your account on one trade. That rule really only works for traders using 50k or more. Most traders start with less and therefore are forced to break that rule. Starting with a $5,000 account and only risking 1% would mean that you can only risk $50 per trade, which in some cases is less than the bid/ask spread once you enter the trade, so it is obviously not realistic. But try to keep the amount you risk on any one trade as low as you can. Trading is a long-term endeavor. Do not fall into the trap of thinking that your next trade is “the big one” and you are sure it will work, and therefore put half or even all of your account into it. That is not money management, it is gambling. But let’s say you are comfortable risking $400 on a trade, or 40 pips on a 100k contract. Looking at a Daily chart of the USD/JPY, you can see that the most recent high was 121.66. Using the Fibonacci stop idea you would run your stop at 121.89 because 89 is the next closest Fibonacci number above 66. Now you have your stop well above a significant point of resistance. To calculate your entry point, simply subtract the 40 pips you are willing to risk from your stop point to arrive at 121.59 (121.89 – 40 = 121.59). The next day the market traded up to 121.63 so a limit order at 121.59 should have been filled. Once the order is filled, you can trail your stop with the market or move it to coincide with other support and resistance zones within the range. Your target would be somewhere near the bottom of the range. In this example your target would be a move to 119.50 or below.
So let’s review this method. First determine if the current market is trending or chopping. Then look to identify areas of support and or resistance. Next find the highest high in a recent resistance level or the lowest low in a support level. Determine the next closest Fibonacci number and you have your stop point. Then take the amount you are willing to risk per trade and either subtract it from your stop if it is a short trade or add it to your stop if it is a long trade. You now have both your stop and entry points, and you are only risking whatever amount you determined you were comfortable with. Your stop is placed at a level that signifies a change in the recent trend, and therefore is mush less random than most other stops. This method is not to be used exclusively, but it is one that can compliment whatever other indicators or patterns you are using to determine you next trade. This method should help you avoid getting stopped out at insignificant points that have you selling near highs and buying near lows within the established trading range.
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About The Author
Derek Frey has been trading since 1989 and is currently Head Trader and principle at Odom & Frey Futures & Options LLC. He also emphasizes the importance of educating traders, providing one-on-one advisory services, online learning materials, and mentoring. Derek’s range of strategies makes it possible to accommodate various types of traders. He is frequently a speaker at investment trade shows & seminars and is often quoted by Reuters, the Wall Street Journal Online, Bloomberg, and other financial news services. He is also a regular contributor to http://www.mytradesignals.com.
