Consumer AdviceWhat is identity theft?

by: NC

What is identity theft? (NC)—Identity theft occurs when someone uses your personal information without your knowledge or consent to commit a crime, such as fraud or theft.

Once they steal the information and manipulate it, identity thieves can invade your personal and financial life. They can use stolen identities to conduct spending sprees, open new bank accounts, divert mail, apply for loans, credit cards, and social benefits, rent apartments and even commit more serious crimes which, once arrested, they pin on their new identity.

ID thieves get your personal information by:

_ Stealing personal and private information from wallets, purses, mail, your home, vehicle, computer, and Web sites you've visited or e-mails you've sent.

_ Retrieving personal information in your garbage or recycling bin by "dumpster diving".

_ Posing as a creditor, landlord or employer to get a copy of your credit report.

_ Tampering with ATM and terminals at stores, which enables thieves to read your debit or credit card number and PIN.

_ Buying the information from a dishonest employee working where personal and/or financial information is stored.

_ Removing mail from your mailbox.

_ Searching public sources, such as newspapers (obituaries), phone books, and records open to the public (professional certifications).

For more information on how to protect yourself from ID theft, and other common consumer scams, visit ConsumerInformation.ca . It's a Web site created by federal, provincial, territorial governments and their partners specifically to provide Canadians with convenient, one-stop access to hundreds of objective, reliable, current consumer information sources.

- News Canada

About the author:

News Canada

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Consolidate Student Loans and Shop Online

by: Nick Smith

If you run a home business, you know that budgets can be pretty tight. Saving money wherever possible can be the difference between the business that succeeds and the one that fails. This article represents a broad survey of things you can do, from consolidating your student loans to getting small business deals on supplies, that will help you spend less each month.

Next Time You’re Online, Buy Something

Billions of dollars are spent each year online. Rather than suggest that you hurry and move your business online, I’d like to suggest that you add some of your dollars and cents to those billions already spent. Companies who move operations online reduce their overhead costs and often pass on those savings to you. Computers, airplane tickets, even student loan consolidation, can be purchased or arranged online. It has been my experience that I can find almost everything I want online for less than I can find it anywhere else. Next time you’re thinking about biting the bullet and making that big purchase, spend a little time shopping around online and see if you can’t save a few dollars.

Consolidate Student Loans and Get Your House in Order

Chances are good that you’ve been out of school for a while, but don’t skip this paragraph. If you consolidate student loans or other financial obligations, you will typically save a great deal of money each month on your monthly payments. Running a home business often blurs the line between personal expenses and business operating costs – do yourself a favor and make sure you have your personal financial affairs taken care of before you find yourself overwhelmed with past obligations. The government might not have cared about your credit score when they gave you those student loans, but banks looking to give business loans are a whole different story. Making sure everything is taken care will keep financial doors open that, once they’re closed, are very difficult to reopen.

Score One for the Little Guy

Believe it not, most people want small businesses to succeed. There are a lot of people willing to give you a break on prices because you own a home business, but you might need to ask about it. Office supply retailers and computer distributors sometimes offer discount prices to registered small business owners. The savings are not always monumental, but even the smallest savings multiplied over a year or two start to add up to pretty substantial amounts. Shop around to see if the suppliers you use are willing to offer you a discount on supplies or equipment.

Do Without…For a While

I’m probably not the only person that drove a car that was older than I was during college, or who ate Ramen noodles more than once almost everyday. Don’t forget the lessons you learned while you were a poor college student – the same ability to make do with what you have can save you a lot of money in the long run. I had just graduated from college and I wanted to get a new computer to replace the older, though fully functional one I was using. This was before I took my own advice to consolidate student loans, so money was still pretty tight. I wanted to kick myself when I saw that the price on the computer I bought dropped $300 in three months. Some expenses are necessary and unavoidable. For everything else, look to see if you can manage with what you have for a while longer.

Don’t Do It Alone

Nobody likes data entry – it’s time consuming, boring, and time consuming. If you find yourself spending too much of your day punching numbers into spreadsheets, consider hiring someone or outsourcing it to another company. If you think that you can’t afford the part-time salary, do an inventory of your time and see if what you would pay someone is worth the amount of time you’ll be able to invest into the meatier matters of your business.

I know I’m risking sounding like your father giving you a lecture about money, but remember that a penny saved is a penny earned. A successful business minimizes costs while maximizing profits.

About the author:
Nick Smith is a client account specialist with 10x Marketing - More Visitors. More Buyers. More Revenue. For information about how to consolidate student loans, check out Agilix GoBinder.

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Cheryl Rickman Interview

by: Damien Senn

Cheryl Rickman runs her own group of businesses CherryJam - with her partner James in Hampshire. Her first company WebCritique a web copywriting and marketing consultancy, helps other businesses to improve their online presence and Cheryl provides workshops to local businesses on these issues. WebCopywriter was borne from WebCritique and provides web copy for small and large businesses alike. Her clients include AnitaRoddick.com, Business Link Wessex, Motorola and Microsoft. Cheryl’s other main business is the UK’s largest independent online music magazine - ilikemusic.com.

Cheryl has been a freelance writer for the past nine years, writing on business issues for Better Business and Internet Works magazine, and interviewing business leaders and music celebrities. As well as writing The Small Business Start-Up Workbook, which has a foreword by Dame Anita Roddick, Cheryl is author of booklets, 111 winning ways to promote your website successfully and 127 insider ideas on creating a winning website and has been a Judge at Hampshire’s Awards of Web Excellence for the past two years.

The Interview

DS: What inspired you to follow an entreprenerial path and in particular what inspired you to write the Small Business Handbook?

CR: Well, I was never the ‘selling packets of sweets’ kind of playground budding entrepreneur at school, and my main dream was to become a freelance writer, but somewhere at the back of my mind I liked the idea of running my own business, something small and (dare-I-say-it) manageable. (I now know that smaller businesses are often harder to manage due to the lack of people to delegate tasks to).

However, it was mainly circumstance that led me to start-up, and the support and encouragement of my partner, James. And I think it is that circumstance - which creates entrepreneurs. The majority of self-made types are ordinary people doing extraordinary things.

Also, I guess some of my ‘entrepreneurial spirit’ came from my mum. She passed away in 1991 when I was just 17. And, to cope with the trauma and loss, I began to fill my time with trying to further my writing career. Years after her death, one of my mother’s best friends told me that mum always believed that I would someday run my own business. I had no idea that she thought that until a few years into my first business, but that gave me the inspiration I needed to think about writing my book. Having succeeded in business through a combination of determination and my own trial and error, I longed to write a book that would offer insight and encouragement to young entrepreneurs like me who dreamt of running their own business, but didn’t have the faintest idea where to start. Ultimately, The Small Business Start-Up Workbook is the culmination of that dream.

DS: Did you have any help setting up WebCritique your first company or were you going it alone?

CR: In terms of advice I received help and guidance from my Local Enterprise Agency, but got most of the information I needed from the web. In terms of finance my personal bank turned me down for a business loan, so I set up a new account – great while it was free, but not so useful now it isn’t. Choosing the right business bank is a crucial decision and worth spending time on. I’m with Lloyds but wouldn’t recommend a bank who’s business managers are difficult to get hold of and don’t see the longer-term bigger picture. My book includes questions to ask banks, and you can compare UK banks at www.bba.org.uk or www.moneyfacts.co.uk

DS: What was the biggest challenge you faced in bringing your idea to fruition? How was it overcome?

CR: The first was to challenge my own assumptions about whether or not I could do it. Everybody has some element of fear going into it for the first time, but I had such a great support mechanism in my boyfriend James, that he fuelled my own belief in my ideas and capabilities. The second challenge and probably the biggest ongoing hurdle that is shared by most small businesses is funding and cash flow. Finding start-up capital was far from easy, so I started up with a minimal amount. It’s certainly easier to borrow bigger sums than small amounts. In the early days I also found getting clients to pay on time was a challenge. Now this is less of a problem, but it is still a general rule that the bigger the customer, the longer they will take to pay you. Another ongoing challenge is finding balance in terms of thinking time. I think mostly about the businesses and what’s going on in them, and need to find a way to switch off more frequently.

The bottom line is that, as an entrepreneur, you have to challenge yourself fairly regularly and be open to that concept. You’re often going to have to enter unchartered territory and do something that is foreign to you and your skillset, but that’s what happens when you wear many hats. And certainly, on start-up as a sole proprietor, you are the receptionist, marketing department, MD, fulfillment house, sales team. You wear ALL the hats, so being challenged on a daily basis becomes part and parcel of life as an entrepreneur.

Finally – realizing that you may have to rely on others who don’t share your vision/dream and who may/will let you down is a challenge to accept and overcome. Once you find reliable and impressive suppliers you can trust, from a great web developer to a great business card supplier, you learn to stick with them.

DS: What makes you most proud of your entrepreneurial achievements ?

CR: The book does because it’s something tangible that I can pick up and say ‘Yes! I did this!’

I must admit, I’m often so busy that I only rarely stop to ‘smell the roses’ and appreciate what I’m achieving. This is a lesson in itself that I have to learn to do more and is certainly something that I suggest others do in my book. People (myself included) should list their achievements more frequently. Some books advise to do this on a daily basis, writing down mini-achievements.

I guess the main milestones that make me feel proud of my achievements are:

The friendships and contacts I’ve gained since embarking on my entrepreneurial journey, including a few ‘celebrities’ such as Anita Roddick and Wendy James, among others, plus a whole host of people who are part of the same online networks as me (such as ecademy.com and Digital Eve) who inspire me and make me feel proud. The people I’ve managed to interview both in the business world and music world makes me feel proud. Learning is so important in life, and being able to learn from those who are ‘living the dream’ is important.

Knowing that we’re still doing it and are stronger than ever makes me feel proud, with I Like Music (www.ilikemusic.com) it’s taken us four years, but we are now at a point where some of the larger well-known brands and companies who’ve spent pots of cash but with minimal results are now taking notice of us and can see our strengths. We now have four years worth of great content, contacts and traffic and are ready to take the site to the next level, but we’ve not forked out on flash offices or streams of staff. And with Web Copywriter it’s great that the original business 'WebCritique' has grown organically into this niche area of writing for the web. The fact that all businesses are still going makes me feel proud.

DS: How did you actually fund your business to get it off the ground?

CR: WebCritique was launched with just a small amount of my own savings, plus a £1500 bank loan. My personal loan bank refused me for a business loan, so I set up a business account elsewhere. I also sold my car. Since then I’ve financed the business on cash flow, plus overdrafts and occasional loans, which is also the case for I Like Music, which is entirely self-funded. WebCopywriter cost nothing as the design was done in house.

I wish there was more cash readily available in the form of grants to small businesses in all areas: both affluent and under-privileged areas.

DS: What attributes do you think make a successful entrepreneur?

CR: That’s a tough question because there are so many variables that go toward making a business actually work; from personalities and people to the viability of an idea, state of the market and, often, circumstances outside a business owner’s control. As I say in my book, 'Certainly, there is no entrepreneurial elixir you can swiftly drink to make you automatically successful (except your own home-made passion-fuelled one). But you can prepare yourself to seize opportunities and make it happen for you.'

However, if I had to list attributes that would make the entrepreneurial life manageable, I would say, you need energy, passion and to be dedicated and thick-skinned. You need to be able to cope with times when your social life will suffer. You should be a great communicator and someone who enjoys networking, be it face to face or online. But probably the most key attribute is the desire to learn. That includes learning from mistakes.

In my book I speak to a variety people from Anita Roddick and Stelios to Simon Woodroffe, among others. All of them told me how important listening and learning is as an entrepreneur. And, as soon as you think you know it all, you’re history as a business. As a boss, if small business owners can remember that just because they started the business doesn’t mean they know more about marketing than the marketing chap, businesses would flourish easier. Learning should be a continuous endeavour, so a capacity and interest in learning is a crucial attribute for any entrepreneur.

DS: What do you believe are the necessary elements for a business venture to succeed?

CR: Good people. You need the right people working with you, be that in terms of partnerships or staff. They are the lifeblood of your business, so you need to value them and they will perform well. As Mike Southon says in The Beermat Entrepreneur 'People buy from People.' So ensuring that people working for you share your vision and at least can serve your customers in a way that they themselves would wish to be treated, is the first step.

You need to plan, as it’s easier to be passionate about getting somewhere if you know where you’re heading and how you’re going to get there. Plus cash-flow can kill businesses, so it’s important to know what is going to be coming in and out of the business all the time. Again, being open to learning is a key element. Many businesses fail because those driving the business are so caught up working ‘in’ the business, instead of ‘on’ the business, that they can’t implement changes, find time to learn or stay creative or on the ball. That’s why planning and hiring the right people with complementary skills who you can delegate to are essential success factors.

These are just some of the elements included in my Start-Up Checklist which appears in the book after the chapter called: LESSONS FROM LEADERS IN BUSINESS: Success Stories, Mistakes and Top Tips

DS: How essential do you see a University education in achieving success as an entrepreneur?

CR: Not essential. I went to University to a) make my parents proud b) delay the prospect of working for a few more years and c) because with A-Levels reading the Media Guardian I realized all the jobs I wanted to be able to do were only open to graduates. For me, although I ended up on lower or similar income to many of my peers, I needed to be a graduate to get my editorial and writing positions. However, I’d have learned a great deal more if I’d gone into a publishers and worked my way up. I believe work experience counts for a lot more (just as some people I sent my CV to as a graduate believed). What’s more, my partner James is more entrepreneurial than me (and he has the gift of the gab, is more confident, etc). He didn’t go to university, so that proves my point that university education is definitely not essential in achieving business success. Indeed, my BA (Hons) Degree in Media with Cultural Studies may well have hindered me in some ways. I could have been working all that time and saving up to fund my own business. And, if you look at the most successful people in UK business, the majority of them didn’t go to college let alone university. Richard Branson, Simon Woodroffe…

DS: What are the three most important lessons you have learned about business and entrepreneurship?

CR: 1. Everything always takes longer and costs more than you think it will (even when you are fairly stringent with your planning).

2. Go with your gut feeling. Learn how to feel what that is and go with it. The buck stops with you, so you need to get as many decisions right as you can. Some of these decisions will involve others trying to sell you something: support or a service or a partnership. There is a time for diplomacy and sometimes you will need to listen to your instincts and opt not to go ahead with a certain partnership or project.

3. Listen and learn constantly. You must never think you know it all as nobody does. People like to give advice and tell you what they know about things, so you can be constantly learning. You also need to delegate, and appreciate that there are people out there who can compliment your talents. Remember, it’s all about people.

DS: What advice would you give to an aspiring entrepreneur?

CR: Do your research, find out what your potential customer needs are and test the market where possible. Surround yourself with a good support network and work out your break-even point before you take the plunge. Buy or create a checklist that you can go through before you set up, making sure you’ve considered everything from your company name and marketing to your website, staff and expenditure needs.

DS: What's the number one book you would recommend to aspiring entrepreneurs?

CR: Of course my own book – The Small Business Start-Up Workbook. However, another book I would heartily recommend is Anyone Can Do It by Sahar and Bobby Hashemi of Coffee Republic, and also Anita Roddick’s Business As Unusual – both are inspirational and help you get things into perspective. Both are available from Amazon.co.uk, or you can order Anita’s books via her own site at www.anitaroddick.com

DS: What memorable mistakes, if any, have you made in business? What did you learn from them and how can they be avoided?

CR: Earlier I mentioned the importance of going with your gut feeling. Well, if I’d done that on at least two occasions, I could have saved a lot of time, credibility and money. We chose a web development team based on referral who ended up being appalling. They made very technical looking sites which had a reduced Google ranking, terrible indexability and were poorly designed and coded. Effectively they talked the talk but didn’t walk the walk. If I’d followed my gut instinct earlier on when the partnership was being discussed, I’d have walked alright… away from them. The partnership cost us credibility, lost Google ranking, plus a whole year of our time. Fortunately, we found a new developer who has made our sites the best they have ever been. But that’s just part of the roller-coaster ride of running your own business.

DS: What are the best and worst things about being an entrepreneur?

CR: Best things are the freedom and flexibility it gives you in terms of trying to reach your goals and in being your own boss. Plus, it’s nice to feel in control of your destiny. The worst things are that nobody can understand what it’s like to run their own business until they do it themselves and the fact that you lose a lot of ‘me’ time and social life when you work long hours on your business. Not getting paid holiday is another negative and personally it’s my occasional inability to switch off from business mode.

DS: Are there any other thoughts, insights, or advice for aspiring entrepreneurs that you'd like to add?

CR: If you believe in your idea, have some proof to back it up and have the energy to be your own boss, go for it. Remember, it’s better to try and fail than to not even bother to try then get to the end of your life wondering, ‘what if’ and ‘if only I’d done that.’

About the author:
Damien Senn helps entrepreneurs create compelling businesses. He is one of the UK's top Business Coaches as well as a fully qualified Chartered Accountant.

Damien is the author of the 'Senn-Sational Success Journal' and has developed his own coaching model called the 'Senn-Sational Success System'.

For your FREE download '101 things to do before you die' please click the following link:

http://www.senn-sational.com/freeresources.htm

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Canadian Debt Consolidation

by: Robin K

Life throws people a number of challenges often on a daily basis and unfortunately, some of those are financial challenges. The loss of a job, an illness and many other situations can make paying off loans difficult to do. Sometimes people simply overextend themselves with their financial commitments and find that they can’t always make even the minimum payment on all of their loans. People from all over the world are finding that they are running into similar financial situations including Canada. Canadians as other nationals have the option of trying to qualify for Canadian debt consolidation.

A Canadian debt consolidation loan is when a bank or other lending establishment loans an individual enough money to pay off his or her loans in order to repay back the entire amount in a single payment often at a competitive interest rate. The creditor gives the companies that are owed money, in effect taking over the loan in order to help lower monthly payments and possibly improve the credit score of a person. Not every Canadian debt consolidation loan is offered at the same interest rate, so it is a good idea to look around for the best deal.

Another type of Canadian debt consolidation is where an individual contacts a debt consolidation specialist who in turn contacts the individual’s creditors in order to make arrangements for lower payments or interest in order to satisfy the debt faster for less money. The purpose of this type of Canadian debt consolidation is to help individuals who can still make lower payments on their debts and to avoid having to file for bankruptcy. As with the Canadian debt consolidation loan, the outcome of using a debt consolidation service is to be able to make a lower monthly payment in order to satisfy debt but a good debt consolidation service allows a person to do so without taking on another debt.

A Canadian debt consolidation service works because instead of losing all of their money to bankruptcy or simply never being repaid at all, most lenders want to be able to get a good portion of their money back through a debtors payments. A Canadian debt consolidation service is trained to deal with lenders and lenders are comfortable dealing with a debt consolidation service. If an individual were to attempt to make the same type of arrangements a Canadian debt consolidation does on his or her own it isn’t likely that he or she will meet with much success.

When approaching any type of Canadian debt consolidation service, make sure that the terms of either the consolidation loan or consolidation agreement are acceptable and possible. It doesn’t make sense to get into another loan situation if it isn’t possible to make payments. If a Canadian debt consolidation service arranges to make lower payments on existing debts, make sure that those payments can be made.

Successfully using a Canadian debt consolidation service can make dealing with financial issues much easier on most individuals and can also help him or her to avoid filing for bankruptcy. The benefits of using a Canadian debt consolidation service are immeasurable and can even mean an bringing past due accounts to a current status and improving a credit score over time. If financial obligations are beginning to feel overwhelming or if bankruptcy is being considered, it would be a good idea to look into Canadian debt consolidation and see if it would feasible.

About The Author:
Robin is the webmaster and owner of " Debt-Consolidation-Deal.com" and has been researching and reporting on Canadian Debt Consolidations for years. Click Here ==> http://www.debt-consolidation-deal.com/

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Buy a Flower Shop: Serious Considerations

by: Karen Marinelli

You've always liked flowers and you think the idea of turning emotions into floral expressions sounds like tremendous fun. You are between careers and have been investigating business opportunities in your community. Yesterday, while perusing the real estate magazine in your county, you notice that the family owned, downtown flower shop is for sale. The ad says it's a turnkey operation. This is your lucky day. Or is it?

Let's look before we leap, OK? Here are some factors to consider:

What is the current state of health of this business?

You should be able to see the financial records and consult professional help if needed.

What is the reputation of this business in the community?

If there are negative feelings about the business in the community, you need to consider a name change and making a big show of the change in management. Factor in the cost of a face-lift on the façade of the physical facility.

What assets are included in the selling price?

If you are buying the building, equipment, coolers and inventory, you need to carefully assess the age, condition and viability of these items. For example, there may be $10,000 worth of inventory in the store, and the seller may be able to document the value by showing invoices. However, if the inventory is shop worn, out of date or not in keeping with your business plan, the value of that inventory to you may be quite a bit lower than that $10,000.

Are you also buying the Accounts Receivables as an asset? If so, you should do some serious research into the exact state of these accounts. Many traditional florists have struggled with house accounts. They have extended credit as a matter of tradition, rather than good business sense and have found themselves in extreme cash flow trouble.

What liabilities are you buying?

You'll need to be very clear about any debt or bills you will be taking over. Be sure that you hire professional help to outline any such debt in your sales agreement. Because of seasonality of the flower business and the existence of house accounts, many retail florists have difficulty with cash flow; you should avoid any situation where you will be paying bills run up by the previous owner.

Also, you should take time to consult with the Wholesalers that you will be buying from. Discuss your payment terms and lay the groundwork for a healthy business relationship with a reputable Wholesaler or two.

What about the business name?

If the name of the business is valuable in your market, you probably won't want to change the name of the business. In any case, consider a clause in the bill of sale limiting the use of the name by the previous owner in the future. This can be very sticky in the case of an owner's own name, for example "Smith Florist".

Will you need to hire all new staff?

Sometimes a previous owner chooses to stay on and work for the new owner. This can pose tremendous difficulties for all involved, so tread lightly on this territory. It's an extreme analogy, but think about the difficulties in open adoptions between birth and adoptive parents. Everyone has their own style and it can be difficult to accept change or let go of something you have worked very hard to build.

That being said, many valued staff members at successful florists have weathered the change in ownership of their place of employment. Do make every effort to retain good people. Just be sure to be clear about your expectations so that the separation can be as painless as possible should that become necessary.

What is the correct timing?

Take the holidays into account when you plan your purchase of a flower shop. Valentine's day is the single largest day, but Christmas is more of a marathon. Mother's Day, weddings, proms, graduations and anniversaries team up to make the spring months a nice busy time. Depending upon your market, the summer can be a difficult time to make ends meet.

Ideally, you'd take over a shop with enough time to get your feet wet before a holiday, but not with so much down time that your funds dry up before you can get going.

What other opportunities exist, and at what cost?

Here's the acid test. Take the time to sort out the options. Let's work on the assumption that you WILL own a flower shop in the next year. Take a big sheet of paper and draw a line down the center. At the top of the left column, write "Buy and Existing Flower Shop". In the Right column, write "Open a New Flower Shop". Now draw a line through the middle of the paper, so you have a top and bottom. The top is for pros and the bottom is for cons. Fill in the grid with as many items as you can figure. Ask your trusted business friends and floral professionals for help. You'll be considering such items as the finances and the marketing plan of your business. When you have completed this exercise, you should have two things. One is a good tool to help you make a decision. The second is the beginnings of a business plan.

Whatever your decision, a business plan is essential. It is your roadmap for success and will be necessary for a business loan. It is worth the extra time at the onset of this journey to compare the options and make the best decision you can.

About the author:
Karen Marinelli is a Floral Industry Professional with nineteen years of experience in the academic, retail and wholesale sectors of the industry. She believes the common goal should be to sell more flowers to more people, more often. For information on How to Open a Flower Shop, visit http://openaflowershop.com/

To order flowers online, visit http://send-flowers-online.ws/

This article may be reprinted without permission under the following conditions:
Article must be printed in its entirety.
Author information and links must be printed exactly as above.

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