Ask MetaFilter questions tagged with money and business

What metrics are sales professionals guided by?

Anonymous — Tue, 10 Nov 2009 08:27:00 -0800

What metrics are sales professionals guided by? Working with my sales manager to help redefine how inside and outside salespeople should be compensated and reviewed.

Everything from leadership to new accounts to call metrics to closed business... how does your business (or your competitors) judge the success of your sales force?

[Also, if you have any articles of interest or website recommendations, it would be just as valuable.]

She works hard for the money...

firei — Sat, 10 Oct 2009 10:05:20 -0800

A friend of mine wants to open a business, and is looking for information on business loans or grants specifically for women. I've been on the SBA and SCORE websites, but haven't been able to find too much info. Everyone always says that there's a lot of financial assistance for women looking to open businesses, but I'm having trouble finding it!

If it helps: I believe she is looking to open a dog grooming/training facility.

Specifics would be awesome, but general links would be alright as well.

Economics' greatest hits? ... or... Where's the science in economics?

zaebiz — Tue, 23 Jun 2009 12:54:37 -0800

As a former scientist, help me gain some faith in economics. What were the great successes of economics as a tool for making better decisions in the last 100 years? The Queen of England said it best for me : Why did none of the big shot economists see this crisis coming?

Having been scientifically trained, I have always had this belief that economics is a mostly mathematical rationalisation of events after-the-fact with the same predictive capabilities as astrology and whose validity decreases as more people believe in it. Why am I wrong? what demonstrable uses has it had? Also interested in any books or papers discussing either side of this debate.

Help find me a business model

junger — Sun, 19 Apr 2009 06:47:02 -0800

Is there a realistic business model in personal finance advice/coaching? I'm a personal finance blogger and enjoy helping people to better manage their money.

I've started doing some one-on-one personal finance coaching, teaching people how to save for goals, pay themselves first, and get a better yield on their money. I don't sell anything or recommend investments, and I don't "manage wealth."

My passion is more in helping people get more from personal finance.

But I'm not sure there is a real money-making business model in one-on-one finance coaching. (I know that sounds weird, given it's all about money)

I charge a flat fee for a sit-down coaching session, and that's it. No monthly fees, etc. It's the best (most moral) way to charge, but it requires a huge base of customers to make real money.

Is there a real business model in this type of personal finance coaching?

Passive income stream which covers your mortgage

lilyflower — Sun, 12 Apr 2009 04:23:43 -0800

What would you do if you had a passive income stream which covered your mortgage? I would like people to consider the following situation and give us their opinions on what they would do. We would like to hear how MeFi's out there would respond to having a similar financial position to the one I am going to describe below. This is one that my husband and I are currently entering and although we have our own ideas on how we would like to proceed, we were wondering how different people would approach the same circumstance.

My husband has developed a passive income stream which has consistently brought in enough money to cover our mortgage (approximately $2200 per month). We both work and prior to this passive income stream we still had enough money to cover all of our monthly expenses and save. We have an idea of how we would like our life to pan out, but we are really interested to know how other people might behave given our situation.

Would people turbo charge their pensions, pay off their mortgage faster, rent out their house while they move to different countries and work while they travel, have a child and one spouse no longer works, go part time and earn enough to cover the remaining bills?

I would like to clarify that this question does not concern the long term viability of the passive income stream. I will be happy to clarify my question further but please remember this is more about what you would do with your life given this income stream.

How much would you give up starting your own business?

Anonymous — Thu, 26 Mar 2009 12:49:05 -0800

How much would you give up starting your own business? Part of this is a philosophical question, too, so my question may never see the light of day. Posted under anonymous because I am a bit embarrassed at the steps I am willing to take to try to launch this (see below).

In the last few months, I walked away from a fulltime job as a writer (2 years) and launched my own freelance writing business.

I know how to write material for my market, and how to do it well. In addition, I saved enough $ to last about 5 months with no projects. Also, I read forums and talked to several freelance writers, and thought I would be prepared for every possible scenario.

This hasn’t correlated to success in a small business. One month was spent chasing projects and prospective clients. This month has been spent chasing down the clients for pay (and some of these clients still owe me a lot of $).

Although I have several thousand dollars coming to me from the first few months of business, at this moment I have 2 months of savings left. Plus, I live in a major metropolis (NYC), and to be honest, until now I have been an idiot with money (not much savings, small retirement, etc.). If I am honest with the money that will come in – it equals ¾ of previous salary on a month by month basis.

I do see success in the long run, because I am learning what to do and not to do from experience; for example, I have more clients and I know who to talk to ASAP if the $ doesn’t appear in my hands (although I am still chasing it down, ugh). I have a vision, though, of eventually not only having a business, but having opportunities that I would not have in a work place, determining my schedule, and a freedom to work anywhere in the world. In the next few months, though, that probably means either using a credit card and/or cashing out what little retirement $ I had (I am 40 years old, by the way). I’ve also gone without health insurance the last few months.

What lengths would you go to try to succeed? A year of this?

I am also looking to hear from other people who have done the same. Did you launch a business that barely took off/went negative in the beginning but went well after a given amount of time? Or one that failed? What criteria did you use to assess the success of your business, and whether to fold or continue onwards? Were there things that you think you could have done to improve the probability of success?

If you have any ideas as to where I could look to for ideas or a good perspective (books/blogs), please share.

Thanks…I plan to give this a go, but I wonder if there are other perspectives I should think about it (I am afraid of throwing all rationality out the window, and at the end of this still having no money and will need to go back to a fulltime job).

$50k for a small business, what do you got?

ibechase — Fri, 20 Mar 2009 19:08:49 -0800

If you were starting a business in the current economic climate and you had $25k-50k start up capital, what type of business would you start? I'm in a situation where I have access to a large amount of cash, plenty of time on my hands and I'm looking to start a business. I have a list of ideas and I'm looking for input on what type of businesses *you* think should be started.

I'm a graphic designer and am comfortable in most facets of business (design, branding, marketing, advertising, bookkeeping, etc.). I'm very computer-saavy and have a very strong work ethic.

I'm going to start a business, so there's no need to tell me how I'd be better off saving the money. I look forward to hearing what you guys think would be great businesses that could be started for $25k-50k and could thrive in the current economy. Thanks for any and all input.

Not just profit but organic profit

rongorongo — Thu, 19 Feb 2009 03:20:57 -0800

What is meant by the term "Organic Profit"?

What kind of records do most sole proprietors, freelancers and consultants keep?

Anonymous — Tue, 17 Feb 2009 19:39:33 -0800

What sort of state of organization are the financial records of most sole proprietorships in? I've had a small freelance business for about 15 years. About 3 years ago, I was in a car accident that was 100% not my fault. (The other driver admitted fault and there were witnesses.) I am now in the middle of legal dealings with my insurance company, because of the state of whiplash, the effect on my pregnancy and the effect on my ability to run my business and maximize earnings. (I do have a lawyer.) The insurance company is asking for all my financial records from the past nine years. They want copies of every receipt, invoice, mortgage interest statement, etc.

I've never kept a general ledger or anything like that. I just invoice and pay my expenses and credit cards and stuff like that. I've never been very formal about things, although I am excrutiatingly honest. I don't lie on my taxes. However, there have been situations where I just phoned the mortgage company to get the interest amount for my mortgage for the year (for business use of home), because I figured that if I got audited by the government, I would just phone and get a statement sent out. And, as I mentioned, I don't have cash flow statements or anything like that. And sometimes my receipts are in my name, my husband's name or both our names. But I always put money into our joint account to cover everything, usually lump sums throughout the year.

I had planned to incorporate and set up with an accountant, but, because of the car accident, I am just beginning that process now. Going forward, my records will be more diligent, since I'll be incorporated.

But, I'm wondering...what is the typical state of financial records for most freelance and consulting type businesses? My lawyer seems baffled that I have unaudited records...he's not used to sole proprietors. He seemed surprised that I had been doing my own taxes (for all but 3 of the total years, because, honestly, the accountants never got me any more tax back than I got on my own). For the most part, my business records are my personal income tax records, since the sole proprietorship income tax is part of that. I never saw any point to doing balance sheets and neither did the bookkeepers or accountants. Are other freelancers and consultants in a different situation? (Again, I'll be changing this going forward.)

I never get into business with a friend - which is why I need help!

Anonymous — Tue, 20 Jan 2009 15:32:45 -0800

How do I deal with a friend involved in a collaborative project that I fear will not take it as seriously as I will? I hate this very much, and I cannot figure out what to do. I cannot figure it out mostly because it involves a friend.

Ok, bear with me:
A while ago, a friend (let's call him Joe) and I came up with a plan to produce a podcast that would be distributed freely on the industry in which we both work as freelancers (him part time, me full-time as my only means of income). We came up with this idea at a bar, mostly as one of those "hey, it would be cool if we..." kind of bar ideas. We then met again to discuss some of those ideas and talk a little bit about how we would present them, to come up with a domain name, and that kind of stuff.

The last meeting took place two months ago. I am ready to move forward with the podcast, but I am finding that Joe will not likely be able to put in the level of commitment and effort that I will into this project.

I have a brand that is getting considerable growth and interest in the industry, and most of the people we would interview would be would be from the contacts and associations I have built. I may be in a position to sell advertising space within those audio materials, and to promote the audio materials with my online brand. The thing I cannot figure out is how to either take over this podcast idea completely, or set myself up so that the brunt of the work, which will fall on my shoulders, is mine (and I am compensated accordingly from any advertising profits).

The issue I find myself faced with is one of ownership and compensation - Joe is a long time friend, and I care for him - and I never, never, ever get into business partnerships with friends, ever. The podcast project never was discussed with regards to business, as it was generally something we would do for the enjoyment of doing it. However, Joe moves at his own pace, if you will - he has a regular job and a regular life, and kinda moves with his ebbs and currents. I am very self motivated, and since I would bear the brunt of the advertising arrangements, recording, arranging of guests, and so on - I don't want to do a bunch of work for essentially free without "bearing the fruits of my labor," if you will. Essentially, I want to run this podcast like a business, and I fear he will treat it like a hobby.

How do I either A) get out of this situation and do my own thing without losing my friend, B) set Joe up as an employee or independent contractor of sorts who reaps what he brings (like ads and support) to the project, or C) some other aspect of this I had not considered?

It really comes down to this - if I was doing this myself, I could pump out regular material on a regular schedule that would be consistent, and not at the whim of my friend's schedule, which is always full.

The only investment made in this effort so far is the registration of a domain. Technically, my wife came up with the domain name where we would distribute, and my wife and I registered the domain. I don't need the domain, I'd give him the rest of the year of hosting if it came down to it.

What would you do? I cannot figure this out.

Name That Loan Company

Anonymous — Fri, 17 Oct 2008 20:41:47 -0800

Help name my friend's finance business! Name my friend's finance business!

My friend is starting up a personal loan type business. (Personal, or debt cosnolidation - NOT Mortgages - Think Prosper.com) She's essentially a broker who helps get the I's dotted and the T's crossed.

Before you cry foul, the business model is based on 2 sales types.

1) a DIY kit that provides the basic information needed to phone/mail down the loan that fits your needs and listings of lenders that will meet that profile based on credit score and the types of lending they do. Cost for this will be a basic $49.95.

2) A "hold-your-hand" service with no upfront costs. Percentage due upon obtaining a loan. This service will likely speed up the results for the borrower as she's already got relationships with many of these smaller lenders and can likely pinpoint the best place to give the loan in short time frames.

A Bonus for both of these is that Credit/Debt awareness, ways to use the money to improve credit score, and a combination of the various Consumer spending knowledge/facts will also be distributed in package 1 and more direct training will be provided in package 2 (think consumerist, iwillteachyoutoberich blog, etc)

She also hopes to educate the borrowers on how she thinks it might be best get out debt or at least be on the right path with the new money they borrow (likely at way better interest rates than credit cards and such if they have a decent income and can snowball or payback their debt with a little help)

Problem is she's not a marketing whiz (nor am I)

Looking for a business name that sounds and looks good, hopefully with the .com available and if we're really lucky.. a 1-8xx-abcdefgh telephone number also available. (Phone number doesn't need to match the name, but bonus points if it can)

I think it's a worthy goal and many of the people she expects to help are either not web-savvy or wouldn't have the time and patience to try to sift through and piece together all the info and filter out the bad to get to the good stuff.

What do you think MeFi-tes? Worth your time and effort to help on this goal?

How does one make the transition between "college student" and business professional" without being wasteful?

DonSlice — Sat, 06 Sep 2008 21:22:31 -0800

How does one make the transition between "college student" and business professional" without being wasteful? My cousin recently took a nice job out west- something that is career-worthy. She's still living like a college student (ie: computing while sitting on the floor, instinctively buying cheaper things because they're cheap, etc).

How can she move from that "college student" mindset without being wasteful with her money?

Has anyone been convicted for murder where the motive was business?

arniec — Thu, 07 Aug 2008 09:13:53 -0800

Dick Jones from Robocop filter: Has there ever, in real life, been a convicted case of murder where a high profile, multi million/billion businessperson either killed or hired someone to kill a business competitor, either within the company or in another company? You see it all the time on Law & Order, Monk, and Robocop...a wealthy businessperson has a co-worker killed either to get a promotion, or revenge for being showed up in the boardroom, etc. But has this ever really happened? Has any rich businessperson caused the death of a business competitor (either a co-worker in the same company or another company)? Any recent cases?

(and I'm referring to legal, corporate businesses, not drug dealer businesses, etc)

How can I work anonymously?

Anonymous — Wed, 04 Jun 2008 19:55:48 -0800

I have a good deal of experience as a phone sex operator. Recently, I decided I would like to go into business for myself rather than work for an agency. I don't think it's legally possible to incorporate anonymously, but still I'd like to keep my real legal identity as private as possible. Any tips? I'd like everything to be on the up-and-up financially/legally speaking, but since the phone sex business encourages obsessive behavior, it's absolutely crucial to hide any/all identifying information about me from even the most persistent clients. Is there any way for me to safely/legally go independent? Or am I doomed to give up more than half my income to a middleman forever?

Starting a teen business

freddymetz — Fri, 09 May 2008 03:55:45 -0800

Starting a teen business! Good idea or not? A friend and i have some t shirt designs we decided were quite marketable, so now we're toying with the idea of starting a business.
I'm not looking for someone to burst my bubble, but constructive advice on what we need to do to get going.

Also, if anyone knows the story of a similar business which started from nothing and succeeded or failed i'd be glad to hear it!

I am 21 and bored with life

thegmann — Thu, 08 May 2008 17:45:52 -0800

I am 21, male, and I'm pretty bored with life, I feel stressed about doing nothing. I am having trouble figuring out what it is I really want to do with all of the time I have right now, and I've definitely been stagnating. Give me some advice! I've run a small computer business since I was about 14, and now I've gotten completely bored with it, but I have so much of it automated and outsourced at this point I really do very little (probably 4-6 hours a week) and all of my bills get paid, and I have enough to let me be comfortable for the month (hang with friends, go out, etc.). I recently got my motorcycle license because riding a motorcycle sounds like a ton of fun to me and I've been looking at motorcycles but I can't afford to pay cash for one. I don't want to take on the debt of a loan for something I could possibly destroy within weeks of owning it.

I've always been very motivated but I tend to love having a creative outlet. In high school I was in every play I could get into and I would take extracurricular classes that sounded interesting. I didn't apply for any schools after high school as I was working, but now I am planning on starting at my local CC come fall because I miss the social environment school gave me. In my current work I don't meet anyone new and my daily life is for the most part spent inside or out with my old high school buddies doing nothing very productive.

I have a huge urge to travel but again money comes to mind. I don't want to get a salaried job- I've only worked one in my entire life and while it was an interesting place to be in it didn't challenge me at all.

I feel like I'm just rambling now, I know I'm lucky to be in the position I'm in, I'm in Southern California with all of the time in the world, given my position, what would you do?

The Economics of Financial Domination

divabat — Wed, 23 Apr 2008 21:18:21 -0800

How do financial dominatrices make their money? A comment on AskMefi some time ago talked about financial dominatrices, and I've been fascinated by their business ever since. From what I could gather, all they have to do is put up a website saying "You worship me! Give me money and stuff because I know you want to!" - and it works. One site had her Internet bills paid off. Many ask for regular tithes and offerings, and have application processes.

How does this work? From what I could tell, the buyers don't actually get anything back for their cash - it's up to the dominatrix if she wants to give them something or not. (Usually they don't bother.) It's not like she's selling pictures or anything (though I did see one with videos) - it pretty much seems like they're paying money because it gets them off.

How does one get established in the financial dominatrix business? Is there some sort of Financial Dominatrix Directory where they get listed and people just scroll through to see who they like? How do they get attention, and how do they get people to pay? Are there any male dominators, or any women that would pay for such "services"? How would you keep your identity secret to collect cash (and avoid a situation like this mess - link NSFW)?

If you would like to comment anonymously, send me an email at dominatrix.economics@gmail.com.

What is my next step? To business, or not to business..

Anonymous — Tue, 15 Apr 2008 09:33:34 -0800

I have a business idea. For the last 8 month I have day-dreamed about making it happen. I find myself ironing out all the details that would make the business run, but I lack the funding and experience of running a business. There are also personal issues that I keep me from moving on to the next step (not that I know what the next step is). Come on in for the rest… Ok. Let’s get it all out on the table.

I am 25 years of age.

I am two years away from completing a degree in Multimedia Writing & Technical Communication, which does somewhat relate to the business that I want to start (I started my degree with a different plan). I work the normal 9 – 5, making $35k a year, before taxes. I have a small side business doing websites that generates about $4k-$5k a year. I have a 5 year old, who I put through Montessori schooling, costing me roughly $4.5k a year. I pay just over $800 in rent, and another $700 in bills (car, insurance, elec, water, gas, etc.). I am able to save roughly $400-$500 a month, although that savings has recently been brought back to zero. Because of the small amount of savings, I find that every 6 months to a year, an issue will pop up that require this savings, such as vehicle repairs or a family emergency. This is partly what the savings is for though, and I really don’t plan on getting rich saving $500 a month. I don’t live paycheck to paycheck, but I am not advancing in my financials either. I have debt. All of my debt was generated between the ages of 18 and 23, other than my school loans that I am currently taking out for my education. That previous debt is probably between $10k-15k. I also have about $15k to pay off on my car over the next 3 years, but this is included in the $700 in bills mentioned above.

So that is my personal and financial status.

I have been completing a business plan, so I have a pretty good idea of what I need and can expect back in my first few years. I am not going to tell you too much about the business I want to start, but there are some details that I can share that may be useful. From what I have researched, I will need roughly $100k to get the company on its feet and through the first year. I believe the company could profit up to $500k in that first year. My honest opinion is that I will have a hard time keeping up with demand and need to take on somebody who is more business minded and has the experience to make smart / correct decisions. The company has to do with advertising. While there are companies out there that have a similar service (hard for me to say similar, I need a word for ‘kind of alike, but not really’), our approach is 100% unique and can easily expand to cities throughout the US and the world.

Ok. So… Knowing what you now know about me, and what I think of my business idea, I have some questions. Please feel free to answer any of these questions. I really want as much input as possible.

At my age, and with my lack of experience, should I go any further with this right now, or is there something else I should focus on first? While my idea is unique and untouched as of now, the advertising industry is expanding at amazing rates right now. I feel it is only a matter of time before somebody else does catch on to my great idea.

How will my current debt and financial status affect this? Should I start by taking care of my current debts? This could honestly take me a couple years, or more. Even after taking care of my debt, it will take some time to get my credit to a decent state. I know that with these debts, getting any type of loan is going to be just about impossible (I think I know anyways).

What materials or communities are out there for people wanting to start their first business? What other materials should I look into? What resources do I have in Arizona (the state I reside and would start the business in), and how about nationally?

Where should I start looking for financial backing to get up and running? I have started a business plan, and have done a good amount of research so far. I really don’t have wealthy contacts, or family members to put in on this, so it appears that I will need to look into stuff like grants, loans (?), investors, anything else (?).

Deductions for Bi-Coastal Business

vVCHAZVv — Thu, 27 Mar 2008 11:07:46 -0800

I’m a writer who is spending more and more time in Los Angeles for work. I live in Florida, and am a Florida resident. My question is this: If I rent a place in LA, because I am spending roughly half of my time there, what deductions can I take advantage of? Further info: I’ve established a Florida Corporation for my work. My primary residence is in Florida. Most of my work revolves around the entertainment industry these days, thus requiring me to spend roughly half the year in LA. Hotels are just getting too expensive, as is renting a car.

If I lease a place in LA, and purchase another car for LA, what deductions are available to me/my company? Would I be able to deduct all of the rent? What portion? How about utilities? Car insurance? Essentially, the only reason I am in LA is to work, and all of these things are necessary to for me to work here. Personally, I’ll spending as much time as possible in Florida (my home), and will keep my residency there. However, the business needs to provide a place for me to live and work when on the west coast.

Believe it or not, I’ve asked this same question of some accountants, and I’ve gotten different answers from each of them.

I’d love to hear what any accountants, lawyers, business owners, etc have to say about this.

Thanks!

I know the basics of money laundering. I need more in depth knowledge now.

reenum — Thu, 20 Mar 2008 13:26:15 -0800

I know the basics of money laundering. Now I want to read more about the various methods used in laundering money. I recently read a book called Crime School by Chris Mathers. He talked about the various methods used to launder money such as shell companies, the black market peso exchange, and smurfing.

I want sites, books, or articles that give true accounts of these methods at work, or a more in-depth explanation than that Mathers gave.

I want to be passionate about my work... while working in my pjs

brandnew — Sat, 01 Mar 2008 09:42:22 -0800

Can I make a living coding from home, and where can I find such a job? First, I'm a veteran coder. I've been working in the software industry for 10 years. I'm experienced in all aspects of the software life cycle. I'm an expert in C#, and very experienced in Java. Over the last few years I've been trading time between roles as solution architect and lead programmer. That means I do more requirements analysis and development and system design now, but I still do a lot of coding.

A couple of years ago my spouse started a business, and it has become far more successful than we had expected. However, the problem is that she had started her business in a small city, and that city doesn't have a large software development market. In fact there are only four or five companies that develop software within 50 miles. And, for various reasons, she is unable to relocate her business or us.

So, I currently work for a defense contractor, and I'm making great money for a small city (>$100K). However, I'm yearning to get back to the "real" software market - developing consumer, enterprise, or business-to-business software applications. And, I want to get back to working at a start-up-type environment, and being passionate about the products I'm developing.

So, how do I find such a job that will allow me to telecommute 75% of the time? Is there a job board that exists specifically for telecommuting jobs? Or, do I just scour the web sites of potentially interesting software company and email them my sales pitch? Plus, would I expect to take a big pay cut if I switch to telecommuting? I may not care, but just curious.

Best/cheapest US bank for initiating international wire transfers online?

stephthegeek — Thu, 21 Feb 2008 10:48:09 -0800

I think I've determined that the best way to send regular payments from the US to Europe/Asia is simply a wire transfer (but willing to entertain ideas I haven't considered yet). Now the question is -- B of A sucks for online/international wires -- what bank is better? After a long trail of looking at paying international subcontractors via:
- Western Union (they charge it as a cash advance on your CC, plus it's expensive)
- PayPal (eats a lot of fees, especially with the extra 2.5% on top of the foreign exchange)
- Moneybookers (have to either wire money to them, or they eat 1.9% on loading via CC and have low limits)
- Priority Mailing a cheque (slower, too analog, high fees for others to deposit)

I think a wire transfer is both going to be the cheapest, fastest, and easiest for people we're paying regularly. Unfortunately all our business banking is with BofA, which charges $45 and you can't do it online. I've since learned that this is pretty crappy and other banks seem to have better options, so I think we're going to open a second account elsewhere just for this. Plus we're moving back to Canada in a couple of years and it'd be nice to have a way to move money back and forth easily, and it's not looking like BofA is that answer.

Can anyone recommend a bank for this?

Need side job advice for lacking income

macsigler — Wed, 30 Jan 2008 11:04:27 -0800

What can my wife and I do to supplement our lacking income? We're newly married college students and I'm unemployed. She has a job as a tutor but it's still not the greatest pay. My wife and I are trying to think of something that I/she/we can do on the side to maybe earn a bit of extra income at least until I can get a decent full-time job, maybe even after, possibly one day turning it into a sort of small business. We're having trouble thinking of what we could do, though.

I love computers (I plan on studying computer science this upcoming fall semester), although I'm not too terribly skilled at the moment. I am studying up, though, and try to tinker around when I can, and study C++ and some basic web design as much as possible. I also love languages, and learned Tagalog (Filipino) fluently as a missionary living in the Philippines. I also like cooking. I like playing games but that doesn't really help me earn a living so I try to avoid it lately. ;)

She likes doing crochet and knitting as a hobby, but she's not really passionate about anything that I can think of, except maybe reading. She loves to read.

It's not anything that is ultra-crucial to happen right this instant, we're not starving by any means, I just would like some ideas to help us know where to focus our attention and get something going. Any help would be greatly appreciated.

How can I protect myself against the falling US dollar when sending work overseas?

lsemel — Sat, 03 Nov 2007 05:16:41 -0800

How can I protect myself against the falling US dollar when sending work overseas? As part of my business I outsource web design and programming projects to overseas vendors in various countries. With the falling US dollar, I've recently had a project increase in cost between the time the project was initiated and the time when it was completed, and I want this to not happen again.

The duration between starting the project and completion is usually several months. I currently pay vendors through PayPal, or through the outsourcing site itself for countries that PayPal doesn't serve.

I want to ensure that from now on, whatever I budget for a project, that's what I actually end up paying. Is there a way I could go about doing this?

How to do business?

markovich — Wed, 10 Oct 2007 18:38:15 -0800

What is the one thing that you do that makes the most positive impact on your business? Every businessman discovers the secret of making money after some years of experience.

Assuming you are this businessman, and you lost your entire fortune and had to restart, what step would you surely do right away this time?