Dress Your Best With This Fashion Advice

Fashion styles come and go. This means it’s up to you to pick and choose which trends you want to follow. Read on for some great suggestions to keep you fashionable.Your purse should coordinate with the rest of your attire, including any other bags that you may be carrying. This means you should have a matched set of a briefcase and purse if you carry them both at the same time. Avoid carrying more than one bag at a time.Be careful when wearing those sexy sheer blouses or dresses. Some areas of your body need to remain private when you are in public, or you will just look trashy.One helpful piece of fashion advice is to make sure you’re always looking out for new styles. You can remain in the loop by subscribing to a few fun fashion magazines. Magazines are going to be your best friend because they probably have the information that you need.Create a look that is specific to you. Lots of people simply follow the crowd, but the people who are truly original are the ones who come up with their own style. This may not work for everyone, but if you feel like you can handle it, people will admire you for doing your own thing.Pare down the number of items you have in your makeup case. Choose products you really love with a selection of season-specific colors. Make certain to have colors for night and day wear. Once you open makeup, it can spoil, so you will want to store it at home. Worse, this makeup that has been sitting around may be harboring germs, so don’t use any makeup that has been unused for months.Try using a moisturizing shampoo and conditioner for frizzy hair. That puts a layer of protection around the hair cuticle so it won’t absorb more moisture. Avoid the ingredients wheat or rice that are found in many volumizing products.Every woman needs some fashion basics in her closet. Dress slacks and hemmed jeans are two valuable items to always have. On top of that, no woman should be without a black cocktail dress.Be mindful and aware of your physique’s good traits and not so desirable attributes. Petite? Look for fitted styles and soft fabrics that enlongate your body and give you some bulk. If you are larger on top, try to find other pieces that will take the attention off of your bust line. Women with pear-shaped figures should wear light clothing on top and darker clothing on bottom.Be quirky in your own way. You can aim to not match on purpose and wear shoes that don’t match your outfit. Being perfect is impossible, so embracing a little chaos in your look can help you stand out from the crowd.Big hair is out, so don’t tease it. In addition to this, avoid styling your hair in a manner that causes different textures. You’ll look indecisive instead of unique and edgy.You should always be open to experimentation when it comes to fashion. You aren’t sure if something is going to look great until it is on you! Interchanging your apparel pieces is a wonderful way to to experiments with colors and styles. You can create a unique look by wearing unique pieces.You don’t need to be lost in regards to fashion anymore. There are a variety of paths to great fashion sense, and taking any one of them will help you keep up with your friends. Keep the information in this article fresh in your mind as you revamp your image.

Selling A Share of Your Business to an Employee

Selling a share of your business (or the entire business) to an employee is often overlooked as a strategy, yet it can be very beneficial for both the owner and employee. There are many different ways this can be achieved and different situations where it might be beneficial. It is also possible that the owner can negotiate a better price as the employee may not have the capacity to purchase the business without the owner’s added assistance.How does it Work?One of the reasons why this strategy is attractive is that you can tailor it to meet the requirements of the business, the owner and the employee. There are no fixed rules, work out what both parties need for the deal to be beneficial and it’s a negotiation process from there.The essential part of the transaction is that the owner will be entitled to receive a payment in return for giving the employee ownership or part ownership of the business.The following variations can exist
If the employee does not have the funds or the capacity to borrow the purchase price, then
the purchase price can be paid over a number of instalments
the owner can personally guarantee the loan (in the employee’s name) and a separate agreement which entitles the owner to retain ownership of the business sold if the guarantee is activated
If the employee does not have the capacity to establish their own business premises then the employee can pay a rent and administration fee to the owner
The employee may purchase only one income stream of the business (and the owner continues to operate and own the remainder of the business)
The employee may purchase a share of the entire business (which could be Stage one of a number of stages to acquire the whole business)
What situations would it be beneficial?Some examples which would suit this strategy:1. The owner requires cash for personal reasons and financing is not an optionExamplePeter owns 3 toy stores which are trading very well. However Peter borrowed heavily to invest in an Aged Care Venture recommended by a friend. The Aged Care Venture has filed for bankruptcy and Peter is struggling to meet his debt obligations personally. The business operated an overdraft and the bank is not willing to lend any additional funds.Paul has been a store manager for 5 years, and has previously spoken with Peter about purchasing the business or part of the business, but Peter had declined as he felt he would sell the entire business when he plans to retire in 5 years.Peter and Paul negotiate for Paul to purchase 20% of the business for $50,000.2. The business is largely dependent on the owner and therefore difficult to sell to an “outside party”. However, through a staged process, the business and its value can be transferred from the owner to the employeeExampleNeville provides engineering consulting services to large mining companies. Almost all of the income is from 4 mining companies that he has consulted to for over 10 years. Daniel is a qualified engineer who has been an employee for 5 years assisting Neville on these contracts (the business also employs 1 engineering undergraduate and 1 administration staff member). Neville wishes to retire.It is unlikely that this business is saleable to anyone except Daniel. It is also likely that Daniel would not be awarded the contracts himself without Neville’s assistance.Daniel agrees to purchase the business effective immediately – the deal is

50% of the purchase price is paid now

50% of the purchase price is payable in 12 months if the mining companies agree to maintain the contracts after Neville’s departure

Neville agrees to continue in the business for 12 months and is paid a salary
3. The owner wishes to offload part of the business to allow another part of the business to grow OR an excellent employee will leave without being rewarded with ownership.ExampleAnnette owns a business that distributes cleaning products. The business has 3 distinct income streams

Wholesale of cleaning products to 3 large corporate clients. Annette has known these clients and has been distributing to them for 15 years. Profit on these products is high.

Retail of cleaning products to restaurants within a 200km radius. Carol is the manager who looks after this division, and whilst sales growth has been good, profit margins are lower as there are a number of competitors in this market.

Annette has developed an innovative cleaning product which is suitable for hospitals. This product has significant potential but Annette will have to invest a lot of time to commercialize, trial and distribute the product.
Carol works long hours and has done a great job with the retail division. Carol is enthusiastic about new products that could be sold through the retail network and has some other ideas to increase profits. Annette however does not have the time, nor the interest to invest money into this division, especially when the same time and money spent on the hospital product could produce much higher profit. Carol is frustrated at this lack of interest and is deciding whether she should approach a competitor to employ her. Carol has been repaying her university debt and does not have much money.Annette and Carol agree as follows

Carol will purchase the retail division for $200,000, payable immediately

Carol is unable to obtain finance for $200,000 by herself, so Annette agrees to personally guarantee the loan. They sign an additional agreement which states that if the personal guarantee is called upon then Annette will be entitled to retain the Retail business. The loan term is for 4 years.

Carol will pay a Rent and Administration charge to Annette of $2,000 per month for the use of the office, staff and equipment.
DISCLAIMER: Many of the comments in this publication are general in nature and anyone intending to apply the information to practical circumstances should seek professional advice to independently verify their interpretation and the information’s applicability to their circumstances. The author expressly disclaims all and any liability and responsibility to any person, whether a purchaser or reader of this publication or not, in respect of anything, and of the consequences of anything done by any such person in reliance, whether wholly or partially upon the whole or any part of the contents of this publication.

Using Personal Finance Tips To Grow Your Small Business

Every business guru states that you should keep your personal finances separate from your business finances. And, we could not agree more.However, separating your business life from your personal life should only be about monetary transactions. We all learn life lessons (knowledge) that not only work in our personal lives but can easily translate to our business lives as well.Knowledge is power after all and if it can help get you get ahead in your business then it really does not matter where that knowledge originated from.To that note, there are many personal finance tips that relate very well to managing the financial aspect of your business.Let’s review a few of them:1) What You Need vs. What You Want:You may want a Lamborghini but know that it is not a good vehicle for a small, growing family – it’s not good on gas, has no room for groceries and cannot take the kids to soccer practice. It just does not make sense for you – even though you would really like to have it.The same goes for our business. You may want that 50,000 square foot building or that $50,000 piece of equipment. But, if your business cannot use those items to generate more revenue then they cost – then those types of purchases just do not make sense for your business.And, it is just not capital purchases either. Do your employees really need a foosball table in the break room? Or, does your business really need that $500 per month T-1 line when a simple $50 per month DLS line would work just fine.Being in business is not about satisfying what you want but taking asset that you need and leveraging them to grow the business – by bring in more revenue then that revenue costs to get.If you don’t need it for your core business – then don’t waste your scarce money on it!2) Living Pay Check To Pay Check:If you over spend in your personal life, you usually run out of money before that next pay check comes in.What happens is as soon as you get your pay check, you immediately look for ways to spend it – most of the time for things that leave you little or nothing to show for it. Some even spend their pay before they get it in their hands. Sure you had a great time, but that money runs out and runs out quickly.Then, about half way between pay checks, a week after your last pay period and a week before your next pay day – you have an opportunity to do something really amazing – something that would either improve your life or maybe even bring in more money for your personal use.But, you have to decline because you have no money to take advantage of it and the opportunity will not wait for you to get your next check.This is a great lesson for business. Far too many businesses spend their revenue before or immediately after they get it – regardless if that spending does anything to perpetuate the business.Example: I worked with a brand new business owner who was helping doctors and other medical professionals collect payments from insurance companies. I took this business owner around to all the independent doctor offices I could find and helped him pitch his services. One of these contacts bit and gave him some business. The doctor provided him with about $10,000 worth of claims to collect on. Immediately, this business owner was able to get about 90% of those claims to pay from which he received a 10% commission.Now, instead of taking that $900 and putting it into his business – to grow his business or setting some of it aside for new opportunities – he used those funds, for personal reasons like a new gym membership, took his friends out to dinner and purchased the latest cell phone with a very expensive plan, not for his business, but for his personal use only.What happened is that this doctor, who was really impressed with this business owner’s ability to collect, referred him to a college friend and colleague in a town about 85 miles away. However, this business owner had to decline the new business, not because he couldn’t do it or because he was too busy, but because he did not have the cash to drive to the other town.Not only did this mean that the business owner missed out on new business, but the referring doctor, feeling let down, did not give him any additional business after this incident.3) More Money Will Improve Your Life:In our personal lives, if we find ourselves short of cash, we tend to look for more money. Get a bank loan or maybe even a payday loan. While this may work temporarily, giving us more money to spend, if we don’t change what we spend our money on, very quickly we end up right back in the same situation – short of cash and a life that is not improved but maybe worse off as we still have to pay for that new money.In business, many entrepreneurs find that their expenses outweigh their revenue – especially if revenue is slipping. But, instead of looking at the business – what it is spending its money on or why it is losing or not growing revenue – the business owner thinks that just getting more money is the only answer.If the business owner goes out and gets a business loan or brings in new partners or outside investors yet does not fix the problems that cause the cash flow issues in the first place, not only will more money not help the business but could drive it further into its financial hole – causing more problems and maybe even resulting in the business being shut down.4) If It Doesn’t Work, Don’t Keep Doing It:Too many people throw good money after bad. It is OK to make mistakes. You learn from them and move on. But, if you don’t learn and continue to do the same thing, you are destined to fail again.I have a neighbor that did not want to purchase a $1,000 riding lawn mower – he had other things to spend his money on. So, he found a used mower in the paper and paid $500 for it. Two weeks later it broke down and would cost about $200 to fix it. Instead of fixing it, he went back to the paper and purchased another used mower for $500. Again, this one broke down and he did not want to spend the money to fix it – said it was a waste. However, this time, he went to Craig’s list and found another used mower – but this one was only $400. And, boy was he happy.But, in the end, he spent $1,400 and a lot of time instead of buying a brand new $1,000 mower. Plus, I don’t think this $400 mower is working anymore as he has not mowed his grass for months.In business I see companies throw tons of money at their advertising but never get any additional results from it – they just think that is what they should be doing.So, instead of finding out where their potential customers are they stick with the same old thing – throwing good money after bad.Thus, they advertise in the same paper each month but see no new revenue for that expense.All things in business should be measurable. If they measure up to expectation, then continue to do them. If they don’t, scrap them and try something else.If you spend a $1,000 a month in print advertising and it is not bringing in at least $1,000 in new revenue – then why keep doing it. Try something else, like advertising online (in places your customers hang out) or on TV during a show your customers watch. Then, measure the results. If they are better then what you were doing, your business is just that much better off.There are things in business that should be keep separate like your business bank account, business expenses, financial statements and business credit cards. This just keeps your records more easy to manage and by not co-mingling funds, can keep you out of trouble with the IRS.But, when it comes to knowledge, regardless of where you learn it, if it can be used to better your small business, then by all means – co-mingle that knowledge and grow your company into the success that is could always be.