Dariako Valko Business News

Archive for the ‘Management’ Category

If you’ve been online for a while, either as an internet user searching for information or an online business owner, you might have seen the ups and downs of netpreneurs.

You may also, for some extends, get frustrated by the result of your online activities. Especially if you are an online business owner. You just don’t see any substantial growth of your online business.

What went wrong? You might think. You’ve bought all the manuals. You’ve followed all the how tos. You’ve set up all the necessary softwares.

You start to think about being cheated by those so called ‘experts’. You become afraid of failure in pursuing online business success. You start to think to just quit.

But, don’t quit!

What you might’ve missed was proper strategy you should’ve built to make your online business grow. What you’ve done was just tactics. You checked emails. You searched for resale rights products, you hunted for affiliate programs, you submitted you website urls, you wrote articles, you submitted articles, etc. All those activities consumed your time. You never have the time to rethink your strategy at the first place.

Your strategy is your guided approach and principle toward your goals and vision. If you have not got vision, you’re doomed!

When you’ve set your vision and goals, it’s easier to develop you online strategy and outsource most of you online tasks.
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When you decided to start your business, was your first priority concerned with setting up your filing system for recording your expenses? I seriously doubt it. This simple task (yes it is simple) is usually the item that is the last thing on the new business owner’s mind. The more “important” issues of what product to sell, how am I going to advertise, how much money is it going to cost me, and how much money can I make are the first questions we consider when going into business.

The task of recordkeeping is usually procrastinated until the very last minute, when it is required. It is time to file your tax return, or time to go to the bank to get a loan for the business and the banker wants to see some financial records for the business. This can be a very daunting and cumbersome task if you have to dig through receipts and expenses for the whole year! No wonder we hate keeping records. That’s no fun!

Well, guess what? If you aren’t keeping good, timely, and up-to-date records monthly, you don’t need to be in business. That’s right. I said it. Here are the top five reasons why I truly believe this statement.

1. Lost tax deductions = Lost Money If you are throwing your receipts in a shoebox each month and not keeping an organized record of your income and expenses, I can bet you money that you are losing out on some major tax deductions. A smart businessperson keeps track of her income (cash in) and expenses (cash out) monthly, sometimes even weekly. You do not need a fancy accounting software package to do this. You don’t even need a computer! Simply keep a journal monthly and log in all of your receipts and invoices, and there you have it.

2. High CPA/Tax Preparer Fees = Lost Money I can speak from personal experience, that if you bring in that shoebox of receipts for the year and expect your tax preparer to record and properly deduct your business expenses on your tax return, you are sadly mistaken. Tax season is the busiest time of year for these professionals. If you expect them to do your bookkeeping and recordkeeping as well, expect to pay for it. They don’t have the time, or the desire to make sure that every receipt is accounted for. As a businessperson, it is your responsibility to make sure they are given the right totals and you can trace it right back to your tax return.

3. Too much time spent looking for receipts The time you spend looking for a past receipt for a particular purchase for whatever reason, you can be utilizing this time in advertising your business or producing your product. These are important money generating activities that you are sacrificing due to your lack of recordkeeping.
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Even though I’m pretty happy with how 2005 turned out, there are still some things I wish I had done differently. Here are 5 things I aim to change for 2006

1. Didn’t take time out for me. I admit it, I have the typical entrepreneur bug. I spent way too much time working on my business and not nearly enough time on me. In 2006, I plan to take more breaks and schedule in some “me-time.”

2. Wasn’t as consistent with my own marketing. Much like not taking time out for me, I also struggled with not taking as much time as I should have for marketing my own business. (Remember the old adage of the shoemaker’s children running around barefoot? Marketing my clients’ businesses always came before my own.) Now, my business has grown rapidly, so although I’m not exactly complaining, I do wonder where I’d be if I had been more consistent about my own marketing.
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If you have sat through a few bad meetings, you must have experienced the following traps. Here they are and how to fix them.

1) People think they are experts.

Many people tell me that they know how to hold a meeting. Actually, all they do is host a party. They invite guests, provide treats, and preside over a conversation. People talk. People eat. And nothing happens. Or, if they somehow manage to reach an agreement, no one implements it.

> What to do: Learn how to lead a real meeting. Schedule a workshop or buy a book. When results really matter, hire a facilitator. Recognize that there are modern tools that help people make methodical progress toward results. These tools are practical and easy to use. Of course, you have to know what they are in order to use them. Call me (714-528-1300) for details.

2) People think they are inspiring.

Many people believe that long-winded announcements impress others. Actually, it’s the opposite. A long lecture quickly becomes a boring (and sometimes offensive) harangue. Why? Most employees want an active role in contributing to the business, and thus listening to a speech feels like a waste of time.

> What to do: Design meetings that give the attendees opportunities to contribute. Plan questions that direct thinking toward the results that you want. Use activities that help people make decisions. Distribute announcements in letters, memos, or E-mails. Or, if you must use a meeting, keep announcements brief (less than a few minutes).

3) People think others agree with them.

Many people rely on nods, smiles, and eye contact to measure acceptance. Actually, most employees will do anything to appease a boss. And if the boss seems to be upset, the employees will become even more agreeable. Then, once the meeting ends, the employees will do one of three things: 1) forget the lecture, 2) ignore the message, or 3) sabotage the idea.
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