Ladyruth’s Clickbank Pirate Blog

What is bad business?

Bad business is essentially what costs small business owners dearly. This could possibly mean that these bad transactions could end up costing more than it is worth in the end. If you have shelled out money for materials, time, labor and money only to receive something not up to your company standard, then you have lost money on that particular job. Taking these, types of deals incur more money than you received for the finished product or service.

Follow your gut instinct

More times to none, business owners take on more work than they feel comfortable with in the beginning. Some will have a bad feeling about the transaction or maybe even suspect they will not receive payment or the customer has such unrealistic expectations that the business owners knows will not be fulfilled.

Make sure there is communication between both parties involved

You should make every effort to make sure that no matter the transaction, the deal is precise and profitable with the terms and conditions made clear as well as understood by both parties involved. This will ensure that both parties will be happy. One cannot avoid bad business deals from never happening but a little common sense can aid greatly with these ventures.

Do not believe that bad business is better than no business

Today our nation is experiencing very difficult times. Some will even state that although you lost money on a particular job that your name is still out there being networked and this makes the loss worth it, this is not always true in my book. Generally, the people who state this have very deep pockets and can afford the losses but for a struggling small business owner who has just started their business, jobs such as this can lead the company to failure.

What causes bad business?

Bad small businesses come out of a breakdown in the relationship between you and your small business. Through the misunderstanding of an expectation, you come to realize that often the expensive lawsuits result from jobs or transactions such as this; it is not worth it in the end to continually deal with bad business. You must adjust and learn from these deals, which have turned bad. It is obvious that no business is preferable to bad business. Bad business turns costly over time as well as time consuming and the bad publicity gained from this is horribly bad for business.

Through determination on the part of your small business, you should never leave details up for chance. You must ensure all parties involved with business deals are in full agreement unless you want these dealings to minimize your customers as well as your income.

Unlike our parents generation when using credit was considered embarrassing and a sign of poverty, our society today encourages debt. No one thinks it’s wrong to use credit as a way to live way beyond our means. It’s even become something of a status symbol to have a lot of credit cards.

Unfortunately, that financial philosophy is proving to not be such a great idea after all. So many of us were living at the very brink of our financial limits and one tiny little push was all it took to send us teetering over the cliff.

We can’t go back and change the decisions we made yesterday but we can change what we do today so that we can be more secure tomorrow.

There are several things you can start doing today that can help you find a much more stable financial footing and can keep you on balance for the rest of your life, no matter what the economy decides it’s going to do.

To tame your credit card debt use these simple tips:

1) Consolidate your debt. This means that instead of paying $50 a month on 10 credit cards ($500/month) you combine all your debt into one loan and pay one smaller fee ($300/ month, for example) Most consolidation loans accrue interest differently than a credit card so you will be paying more in principle with every payment.

If you are only paying the minimum fee on your credit card bill you are paying only interest. You are not even touching the principle. You will have a very hard time ever paying your card down that way. There are many debt consolidation services available today. Start by asking your local bank who they recommend.

2) Do it yourself. Even if you can’t increase your income you can still pay off your debt yourself. It will take time and discipline but it has worked for thousands of people.

This method simply requires you to pay the minimum payments on all of your credit cards every month, focusing on the smallest debt and adding any extra money to that card every month. Remember that adding even a few extra dollars a month to your minimum payment will go directly to the principle.

After a while you will have the smallest debt paid off. When you reach that point you will take the money you were using to pay on that card and apply it to the next smallest debt. And so on, and so on, until all your credit card debt is paid off.

Getting yourself out of debt isn’t going to be easy. It’s always tough to change habits. But if you beat credit card debt once and for all you will have a much more secure financial future and it doesn’t matter what the economy does, you’ll be set!

Remember, these are just insights. They aren?t a true representation of how that stock?s price will react the following trading day, but many investors are still able to glean information and develop stock analysis figures from the after hours prices and movements regardless.

The New York Stock Exchange and the NASDAQ are open for trading between 9.30am and 4.00pm Eastern Time. Originally, only high net worth investors and institutional investors were given the opportunity to trade after hours. The introduction of ECN, or Electronic Communications Networks, in 1999 allowed smaller investors to trade after hours.

Many investors saw this as a major advantage, as the ability to trade directly with other investors via registered ECN brokerage firms allowed them to reduce the cost of transactions and also to lock in any pricing changes that occurred outside of regular trading hours.

However, there are some risks involved with trading after hours.

Receiving after hours trading quotes can sometimes offer beneficial pricing advantages, but it?s important to remember that there are less buyers and sellers trading the after hours market as compared to the regular trading hours. This lower volume might mean less liquidity, or more difficulty in selling your stocks when you want to or at the price you intended.

You?re also unable to see prices from other sources. During regular trading hours, brokers are able to access pricing from multiple sources and then allow you to buy or sell at favorable prices based on several quotes. With after hours trading quotes, the source for brokers is generally limited to the one price.

The pricing of stocks traded after hours also tends to have a higher level of volatility compared to during regular trading hours. You may find that the prices are not always as current as they could be and are regularly shown with a 15 minute delay, so always double check your trade order before processing it for execution.

Placing a trade during regular trading hours usually means you?re able to set a limit order on your trades. Many ECN brokerage houses don?t allow after hours trades to have a limit order placed, which can often mean your order won?t be matched or fulfilled.

Finding after hours trading quotes is relatively simple. The majority of brokerage houses offer quotes for trading during extended trading hours. You can also find plenty of information on the NASDAQ website for stocks that are trading after hours.

While the after hours trading market offers a greater amount of flexibility and convenience, newer traders should spend some time learning about trading stocks and developing trading strategies during regular trading hours.

When you are trying to decide who you should name as the Beneficiary of your retirement account, there are some tips to keep in mind.

In this article I will give you some ideas of where to start, but please remember that every one is different and there are even different laws from one state to the next, so you need to consult a professional in your state for more exact advice.

One of the most important factors you need to consider are the tax consequences of any choice you make.

Many people will just name their trust as the beneficiary but the problem with that is that whoever is also on the trust will have to pay taxes on the retirement proceeds.

Again, make sure you talk to a professional first to decide the best way to go to avoid as many taxes as you legally can.

Wealth preservation should be your number one consideration.

There is no point in leaving a lot of money to your spouse or children if most of it will be eaten up with taxes.

Find the best alternatives to minimize the tax obligations.

It is also important to note that if you want to name your kids as your beneficiaries they should be over 18.

Minors will not be able to directly control a retirement account so some other provision needs to be made if your kids are still minors.

You may be able to set up a trustee or allow whoever the legal guardian will be for the kids as the person who will have control of the account.

In some states your spouse will automatically be entitled to half of your retirement account.

Check with a local tax attorney to find out for sure if that applies to your state.

You should also get in the habit of revisiting all your legal documents annually. Too many people set up their retirement plans early on and then just forget about them.

It’s important you change things as your circumstances and situations change.

One good example of this may be someone who set up a trust for their kids when they were minors.

The trust may have been set up to be handled by a trustee. But, now your kids are grown and you don’t want that trustee in place anymore.

That is why it is important to keep up to date with these types of decisions.

You can also choose to leave some, or all, of your retirement account to your favorite charity.

All in all, setting up who you want to leave all your assets to, not just your retirement account, is a very important decision.

Make sure you take some time to sit down with a qualified professional to make the best decisions so your heirs don’t end up with nothing after Uncle Sam comes calling.

Figuring out who the beneficiary of your retirement account should be might be an easy decision. Just make sure it is set up the right way.

For the purpose of this article, when I talk about an online bank I’m referring only to those banks that do all their transactions online. I’m not referring to a bank that has a traditional brick and mortar location but also have online banks as well. Since online banks have a lot fewer expenses they are able to pass those savings on to their customers in the form of higher interest rates. But interest rates are only one aspect of your overall banking experience. Here are some things you need to know before you choose which bank to open an account with:

1. What is their interest rate? This is usually the number 1 thing people look at when comparing banks.

2. How accessible is your money? Can you get to it virtually anywhere 24/7? Are there fees associated with depositing or withdrawing your money? Are you restricted to only using certain ATM’s and if so, do you have a lot of those in your area? What fees will you pay when you use an ATM?

3. Can you set up several accounts, such as a savings and a checking and transfer money back and forth between them all with a click of your mouse? This can be a great way to manage your money. If you’re like me, you’ll find it easier to keep most of your disposable money in a savings account. If I keep it in my checking account I find I spend it more frivolously, but if it’s kept in my savings account I’m very reluctant to pull it out. With a linked account I can keep all my disposable income safe, from me, but I still have the option of easily transferring it if I need it in just a few seconds. Using this method has actually allowed me to save more than I did before.

4. Does your online bank offer other services such as mortgages, online bill pay, or CD’s?

Today the internet offers more options, in every aspect of life, than ever before. Having bank accounts online is just one of those options. There are a lot of good reasons for opening an account online, just make sure that you know what you’re getting into. Don’t be afraid to take a little time and compare all the benefits and features of several banks before making your choice. After all, it’s your money, you have the right to make sure it’s working as hard for you as it can.

It doesn’t take much to trigger this debt spiral either, a single missed payment can rapidly turn into a raging sea of debt. You may have simply forgotten to make a payment and were charged a late fee, or maybe an emergency came up that took up the money you had set aside for the credit card payment. Accidents happen and you shouldn’t be condemned to a life of debt because of them.

There are many options to get out of debt, from debt consolidation to debt counseling. Many people get to the point where they even consider bankruptcy. But before you decide to do anything that drastic, take a step back and try to solve this yourself. Bankruptcy is an absolute last resort, and some of the other debt relief programs cost money or just don’t work.

As the saying goes, if you want something done right, do it yourself. Below is an easy and simple way that can help you get out of debt…permanently. It’s not a quick fix, and it will take time and discipline, but it’s a tried and true system that will help you get out of debt.

1) First of all you need to make a comprehensive list of you debt. Include everything, even the smallest of debts. The list should have all of your monthly expenses such as, house payments, utility payments, insurance payments and anything else that you have to pay for monthly. In one of the columns put all your credit card debt, in another column list all of your ongoing monthly bills.

2) You have to give yourself a strict monthly budget to follow. Give yourself enough so you are able to pay the minimum payments on all of your debt.

3) From the list you made choose the smallest debt to go after. Pay as much as you can toward that single debt, while still paying the minimum payments on all of your other debt. Eventually you’ll have paid off that debt and when you do, take the money you applied to that debt and put it towards the second smallest debt. If you keep doing this over and over again you will find yourself getting out of debt and with this method you won’t even need to bring extra money into the household.

This method has been proven to work, it just takes time and discipline. You will have to make some sacrifices if you want to get yourself out of debt. That means no new TVs or going out to eat, but you will beat credit cards debt, and finally be free of that burden.

Before you begin investing, it?s important that you understand at least the basics of the stock market.

While investing in stocks can help you to build a great investment portfolio, if you?re not careful about your strategies, you could also find it can be a great way to lose a lot of money too.

There are two sections to the stock market. The primary market is where shares are created by companies and generally offered to the public via an IPO (Initial Public Offering). The secondary market is where established stocks are exchanged and traded among investors without the involvement of the company issuing the stocks.

When people think about investing on the stock market, they tend to be talking about the secondary market.

Basics of Stock Market Shares

Shares, or stocks, are individual pieces of ownership of much larger companies. When companies need to raise capital, then sell off little portions of the company so that investors may become partial owners of that company. Each time you buy a stock, it represents a share of ownership in a publicly listed company. You become a shareholder. As you increase the number of stocks you have in one particular company, you increase the percentage of ownership you have.

As a shareholder, you are entitled to your share of the company?s earnings. These are usually paid as dividends, although not all companies offer dividend payments. You?re also entitled to exercise any of the voting rights that might be attached to that stock, however you don?t have a say in the daily operational running of that business.

Basics of Stock Market Pricing

There are several factors that can affect the price of stocks and you might notice that the price of stocks changes every day. While the price can be partially dictated by supply and demand, there are also other factors that can affect the overall price too. Economic changes, unemployment or bad management in the company are all individual factors that can also affect the pricing.

The price you see listed on any particular stock is based on the perceived profitability of the company and not the value of the company. This means the stock can often be priced based on what investors believe the stocks are worth. The value of the company is called the market capitalization.

When you see on the news that the market rose or fell by a number of points, it?s important to understand that not every single stock listed on the exchange followed the same movements. The index you see reported is a representation of a number of stocks and presented as a single figure to give a general idea of the market movements as a whole.

However, there will always be individual companies that move contrarily to the main market sentiment. It?s this contrary movement that day traders watch for, trying to find the next stock pick that will rise in value and gain profits for them.

Basics of Stock Market Investing

There are several types of stock market investment strategies. Day trading is growing in popularity as a way to smaller investors to begin building capital. The basis behind day trading is to buy a stock in the early part of the trading day and hopefully sell it again at a profit before trading closes.

Long term investors tend to purchase many different stocks in a diversified range of companies in various sectors to spread their risk. These investors tend to hold stocks for longer periods of time, allowing the value of their stocks to appreciate. They also receive dividend payments, either in the form of a check or as a dividend reinvestment plan, where the company issues stocks to the value of the dividend payments to the shareholder to add to his portfolio.

Author’s Program Note. In the 1980 film 9 to 5, Dolly Parton sings the title song. Of course it is an attack on the boss in memorable lines like this:

Nine to five, for service and devotion You would think that I Would deserve a fair promotion Want to move ahead But the boss won’t let me I swear sometimes that man is out to get me.

When I saw the film the head of every Sally and Sam in the audience was rhythmically nodding in unbreakable solidarity… the boss was a schmuck… and that was that.

Pity the poor CEO.

If these are the sentiments directed at every boss in every business on this planet, then you can be sure these sentiments may be multiplied by many times when directed at the Chief Executive Officer, THE Boss, the biggest cheese. El Jefe Maximo, a person universally known as fake, incompetent, probably immoral, certainly amoral, a disaster for the company, vastly overpaid and already richer than Croesus by squeezing the last drop of blood and service out of every employee, especially those whose ideas he steals with alacrity, impunity, and a demented grin for the credit and enhanced compensation such Machiavellian dexterity always delivers.

Thus CEO, the culprit of the enterprise, a personage causing universal grief, outrage, embarrassment, and of course, secret envy from aggrieved personnel who would assume the toxic burden and every affronting characteristic, criticism and derogatory comment without thinking twice, even if it involved garroting their own mother.

It is in defence of this sitting target that I, CEO for over 18 years and counting, rise and must speak, for although there is much grandeur in his lofty position and the luxurious lifestyle many millions a year can deliver, there is no one who knows the true value and significance of CEOs than one who is one himself. He knows! And must therefore speak out of experience augmented by joy at the opportunity to sustain and laud his corporate peers, since so much said about them is inaccurate, mean-spirited, venomous, petty, painful, hurtful, distorted, unhelpful, biased, malicious, erroneous, mischievous, balderdash and complete rubbish… but you get the picture.

Insight one for CEOs of every age, temperament, disposition, and success.

Each and every one of your employees, directors, agents, representatives, et al knows (not just supposes) that he could run the company better than you, the sitting duck with the mahogany desk and assured parking place, even if blind folded, one hand tied behind his back, and baboons as department heads. Oh, yes, and double profits, increase salaries and circle corporate headquarters with a riot of Christian Dior roses. So there!

Exhibit Number One, Your Honor.

There is a reason I am writing this article today rather than wasting my limitless corporate subsidized time on the golf course, which is universally known as a den of the most expensive and rare executive iniquities. That is a stinker of a letter I received the other day from one of my company’s representatives. Now the contents and commentaries found at their most prolix profusion were in no way new , viz. the author of the letter summed me up as a bumbler, stupid, arrogant, supercilious, out of touch, brain dead… and that was just for openers. The rest of the condemnatory barrage was unprintable, even in these lax days.

No, I’d heard that all before. Even the misspellings were unoriginal and pedestrian. No, what made this epistolary stink bomb so notable was the time I received it… the very day I was receiving special recognition upon the completion and implementation of an innovative system for the assistance of individuals, organizations,enterprises, companies, and corporations which needed timely, professional copy for their blog sites. Much time, energy, imagination and intelligence had gone into creating what was acknowledged by experts to be brilliant.

And because of the project’s importance to our company and world, there was to be special recognition for me, the lead sled dog. Thus gathered the poobahs of our organization in gay regalia in good voice and good temper to sing hallelujah… all but the individual who chose this moment, of all moments, to expostulate about my many defects, on the day one of the signal achievements of my life was acknowledged.

Deliberately hurtful, or just bad luck?

There is a question here I would like an answer to, but shall probably never get: Why was this punishing letter deliberately sent at that specific time to blot a grandly festive day… or was the delivery time accidental, a coincidence? This is a factor in evaluating the matter… but does not, of course, fundamentally change it. No matter. What does matter is the following list of crucial things you must know and do, things which the sender of the badly conceived e-mail letter needs to know — and begin implementing at once:

1) Even if you are as mad as hell, and especially if you are master of a slashing prose style, leave anything you write to your CEO for your tempered evaluation 24 hours after writing. You’ll most likely be glad you did. A stitch in time, saves nine!

2) Whatever communications you sent to your CEO should be respectful of tone, brief, put as positively as possible and as professionally as possible. Every purplish prose patch must be deleted at once and completely. Remember, this is your CEO you’re contacting. Unless you have a death wish, tread warily and conservatively.

3) Couch all communications as problems to be solved, not voluble attacks to hurt and inflame. Problem solvers get promoted. Attackers get no such consideration.

4) Consider whether raising the issue now is the best possible time for progress and resolution. Timing is everything.

5) NEVER make the issue personal. That is always the worst possible way to secure CEO attention, CEO action, CEO assistance. And remember this, a pearl of wisdom from Niccolo Machiavelli (1469-1527), when you attack the prince, you must kill the prince, or the prince will kill you. A CEO saying me recordo (I remember) may not be a prince available to assist you when you need his services, for the prince is human… very human indeed. Thus, to my final and most important reflection: the CEO is the designated leader of your company. He has a right to expect your respect, your support, your courtesy, your wisdom and your help, as he leads you to the promised land — Waitin’ for the day your ship’ll come in/And the tide’s gonna turn/ And it’s all gonna roll your way.

About the Author

The truth is there really are ways to create an accelerated debt reduction plan on your own that could see you become debt free as well as teaching you important lessons about financial responsibility at the same time.

Before You Begin

Perhaps the best way to begin working on an accelerated debt reduction plan is to take a good look at your current budget and spending habits. Create a quick budget or write out a list of income and expenses so you know how much you?re spending. If you can see any areas at all where you might be able to cut back your spending, then work on this now.

Reduce Costs

Many people believe that trying to save 50 cents on a grocery bill is the right thing to do when they?re trying to reduce debt. Instead of worrying about your living expenses, take a look at how much your consumer debts are costing you. If you didn?t have to pay those every month, how much of your income would you have left over for yourself?

Work on finding ways to reduce the amount of interest you pay each month. This could mean catching up any delinquent payments to stop those penalty fees from accumulating. It could also mean consolidating some of the more expensive debts into a lower interest option.

If you have the option, then consider transferring the balance of a high interest credit card over to a low or no interest option. Once your interest costs have been reduced, take advantage of that introductory period to pay down as much of that balance as possible before normal interest rate charges start again.

Raise Income

While it?s not possible for everyone to walk into the boss and demand a pay rise, there are other things you can do to raise some extra cash to get rid of those debts. Millions of dollars worth of regular items are sold every day on eBay. Take a look around your home and put anything you don?t use any more on eBay.

If this doesn?t appeal to you, hold a yard sale and see if you can raise a little cash this way. Not only will you be un-cluttering your home, you?ll be un-cluttering your debts at the same time. Whatever money you raise, put this immediately towards paying down your debt balances. This will give you a huge head start and keep your motivation high.

Discipline

If you?ve managed to reduce your monthly repayment costs, then the best accelerated debt reduction method is to have the discipline to allocate those savings towards making extra payments on your debts.

Whenever you receive a pay rise or a bonus or a little extra cash from any source, put it straight off the balance of your debts. Many people hate this part of the discipline stage, preferring to spend bonuses on treats.

Having the discipline to pay extra money off your debts now and go without those treats temporarily will mean you should have far more money to enjoy every month once those debts and the expensive repayments are gone for good.

Good luck with your accelerated debt reduction journey.

Assess your Debt

The first thing that you need to do is to assess your current debt situation. You need to understand how much debt you have. You need to understand how much interest that debt is incurring. These numbers will help you to set your goals. If you want to be free of all debt, you need to fully understand that debt.

Make More than the Monthly Payment

Many attempt to be freed from their debt by paying the minimum monthly payment on their credit cards. This method will not remove debt from your life. In some cases, the debt can still rise. You need to make an extra effort to pay more than the minimum amount each month. The more you can afford to pay a month, the better off your finances will be.

Budget Your Paycheck

If you want to be free of debt, you need to budget out your paycheck. You need to budget for payments such as rent payments, car payments, and insurance payments. You should also budget out a specific amount for gas and groceries. After you have budgeted these needs, you can budget in the amount of money that you want to pay on your debt. This will help to keep your current finances secure.

Start Saving

If you are looking to be free of debt, you need to start saving money. A solid savings account can help prevent you from going into unmanageable debt in the first place. While you may not be able to contribute a lot to your savings per paycheck, the account will eventually grow into a stable and reliable account.

Take Something Out of your Routine

Most people have a habitual spending habit that will drain them of a decent amount of money per month. Think about a specific spending habit that you have. Some people go out to fast food on specific days. Others need their cup of coffee from their favorite coffee house every day before work. Taking these extra expenses out will help you to reallocate that money to a savings account or debt payment.

It is important for you to assess your debt before you create your plan. This will allow you to understand your situation fully. When you understand the situation, you can plan for monthly payments. This plan will also help you budget for your life, and budget for a savings account. These components all add up, helping you to be debt free as quickly as possible.