DSEF & CBBB: Is Your Business Plan Fractured? Focus and Execution are Key

DSEF & CBBB: Is Your Business Plan Fractured? Focus and Execution are Key

By Lance Trebesch
In a recent podcast, Daniel Ek, the CEO of Spotify, was asked if he feels that he is a visionary or a genius. He demurred, replying, “Absolutely not. For me it’s all about execution.”

I completely agree with this 27-year-old millionaire. Execution is everything. It doesn’t matter how many great ideas an individual, team, or company comes up with. Until you implement, you haven’t made any progress. Execution is what builds lasting success. Splitting your business’s energy among too many outcomes can hinder your ability to execute good ideas and achieve your goals.

Planning: Fragmentation versus Integration

Many organizations go through an elaborate planning process. But if your method is overly time-consuming, it takes away from more important work. More problematic, relying on the idea generation phase of planning frequently results in fragmented outcomes. When you try to achieve too many outcomes, your business starts to suffer.

It’s tough to execute your desire when your attention is split in a million directions.

Your Top Three Goals

One of the keys to execution is focus. You may want to achieve a hundred different things, but most of us find it impossible to focus on more than four all-important goals. In fact, four may be too many. I would suggest erring on the side of success: Choose your top three and pursue excellence uncompromisingly in these areas. A relentless focus makes a positive outcome all the more likely.

At www.TicketPrinting.com, we’ve found success by choosing three goals on which to focus:

· Customer satisfaction

· Revenue

· Products (improving our existing base or adding new ones)

It may not seem like a lot on paper, but accomplishing these three goals is our focus, and we devote one hundred percent of our efforts to their integration. It’s become our formula for success, and the hallmark of our company. Every year we add or improve hundreds of products. Every day we work to improve customer satisfaction. And every moment, we seek to increase our revenue. For us, a focus on executing these three goals is the key to prosperity.

What are your 3 goals?

Free e-book “Business Owner’s Road Map to Success.” It has over 50 pages of techniques for everything a small business owner needs to master, from business planning and ethical selling to a success mindset. It’s all there and it’s free for you. To get it, just “Like” our Facebook Page here: http://on.fb.me/KsIN6P Pass it on!

About the Better Business Bureaus
As the leader in advancing marketplace trust, Better Business Bureau is an unbiased non-profit organization that sets and upholds high standards for fair and honest business behavior. Every year, more than 87 million consumers rely on BBB Business Reviews® and BBB Wise Giving Reports® to help them find trustworthy businesses and charities across North America. Visitwww.bbb.org/us for more information.

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DSEF & CBBB: 7 Tips for Optimizing Your Professional Profile Blog

DSEF & CBBB: 7 Tips for Optimizing Your Professional Profile Blog

By Lindsey Max

Mashable lists 7 tips for ensuring you have the best online professional profile:

1) Keep it up to date: Post as often as you can with any new changes, statements, or recommendations. Try getting a new recommendation once a month; or, if you receive multiple recommendations at once, spread them out in your postings.

2) Refresh your keywords and specialties: Find popular terms from job search websites that describe specifically what you do and integrate them into your profile. Be careful not to overuse these keywords, however, and be sure to include them in a natural way.

3) Be Everywhere: Create multiple online profiles, making sure your message is consistent throughout all of them. Participate in online discussions, post recommendations, and comment on blogs to get yourself out there!

4) Get the recognition you deserve: Don’t be modest! If you have received any awards or have had special accomplishments, SHARE THEM!

5) Diversity your professional and peer recommendations: Having recommendations from more than one group will add to your credibility. Don’t have all your recommendations come from your coworkers at your previous job, for example.

6) Request personal and professional recommendations: Ask for specific recommendations, but always remember to say thank you. It is very important to show your appreciation, and little things like a thank you note or a $5 Starbucks card may help more than you think.

7) Get involved in groups on LinkedIn and other job forums: Look for LinkedIn groups and job forums that relate to your specific career goals and get involved. Such groups and forums can be great ways to network with company executives and recruiters.

To read the full article, visit http://mashable.com/2012/07/17/optimize-online-professional-profile.

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DSEF & CBBB: Study Finds Cut-Price Merchants Less Reliable; Reflected in BBB Ratings

DSEF & CBBB: Study Finds Cut-Price Merchants Less Reliable; Reflected in BBB Ratings

By Holly Doering

Remember that scene in “Guys and Dolls” where the band girl’s grandfather gets a screaming deal on a street watch? And then it turns out to be fake? Well, online merchants who use dollar signs and advertise low prices in search engine results may be the equivalent of that street vendor. Loud voice, low price, but if it breaks, you’re on your own.

Researchers in a recent University of Iowa study performed 243 internet searches on Google, Yahoo and Microsoft for digital cameras made by major manufacturers and sold online. They looked at how search engine results on the first few pages correlated to merchants’ BBB business reviews.

The study found that merchants who used dollar signs in their Google results earned markedly lower grades from the BBB. In addition, many of the merchants who appeared only in the paid results received low marks from the BBB. Iowa’s Professor Gautam Pant stresses that this doesn’t mean all retailers in the paid results are less reliable. But it does mean that merchants who can’t compete on reliability can get more visibility by paying for results.

Pant also found a correlation between lower price and lower reliability. “Merchants who can’t compete on service attract customers using the lure of a good deal,” he says.

Remember, reliability is an important consideration when making a major purchase. You can always Start With Trust by checking the company’s track record at www.bbb.org. Selecting a purchase on price alone can lead to trouble.

The study “Can visible cues in search results indicate vendors’ reliability?” was published recently in the journal Decision Support Systems.

DSEF and Council on Better Business Bureaus (CBBB) fosters honest and responsive relationships between businesses and consumers—instilling consumer confidence and advancing a trustworthy marketplace for all.

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DSEF & CBBB: Get More Money Now

DSEF & CBBB: Get More Money Now

This is the name of a pamphlet published by the BBB some years ago in partnership with the FINRA Investor Education Foundation. It is still helpful today. Who couldn’t use more money, right?

The sad truth is that many of us were not well-educated about how to use money…if we were educated at all. I remember a class in high school called Consumer Economics. All I learned from it was how to properly make out a check! And maybe balance a checkbook.

But how do you save for goals? Handle medical expenses? Improve your home? Pay all your bills? Take care of your student loans? Take care of your pets’ medical expenses? If you’re like me, you’ve already thought about finding a cheaper place to live or brown bagging lunch more often.

Here are some additional tips from the FINRA/BBB publication:

Lighten your load. Pay priority household expenses first, in full.
Take care of bills right away. This will help you avoid fees and penalties and it will improve your credit.
Get rid of high-cost debts. Don’t just pay the minimum balance—pay as much as you can and avoid extra purchases, until the debt is gone.
Don’t max out your credit cards. This hurts your credit rating, and increases interest rates.
Pay the monthly bill for your goal. Decide how much you can afford to spend on your goal. Then put that money aside each month, just like you would for the rent or house payment.
Remember your goal before you spend. Ask yourself: once I get this thing home, will it make me happy? Do I need it or want it? Will it get me closer to my goal? Once you handle basic expenses, try to spend on things that will help you achieve your goal.

And remember, you can keep more of your money by paying attention to the real costs of services. You’ll be singing all the way to the bank if you can avoid:

Bounced check fees.
Payday loans.
Check cashing and wire transfer service fees.
Tax refund anticipation loans.

For more tips and resources, check out www.finrafoundation.org and www.bbbmoneyhnow.org.

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Saving Up For Something Big

Saving Up For Something Big

Guest post by Michelle Willits, CUNA

Second grade: Nintendo DS. Fourth grade: iPod Touch. Sixth grade: Alienware computer. As my son nears the teen years, he has more expensive items on his “big wish” list. He knows our budget can’t handle purchases like that, so he is working to save for it.

After becoming a single mom, I put even more emphasis on sticking to a budget. He’s aware of how much his shoes cost and steers clear of the expensive ones that his classmates have (and outgrow quickly). He likes to calculate cost per unit for me at the grocery store. He declines my offers to bring home dinner from Subway or McDonald’s, citing the cost. (It’s not the money, sweetie. It’s “Mom is too darn tired to cook tonight so she’s spending the $11.74 for dinner.”)

We talk about how you have to save for the big stuff—he saw me do that when I bought my road bike last year. I took the money previously allocated to craft supplies and redirected it to my bike fund. What’s nice about that? I have an awesome bicycle that gets me out and moving, and I have a lot fewer unused or unnecessary supplies stacking up.

Once he decided he wanted the DS and, later, the iPod, he saved everything. All of his allowance, all of his birthday money, all the “fun money” that his grandparents and aunt sent him. When he got a pre-paid gift card, he “sold” it to me in exchange for cash that he could save.

My 12-year-old’s funds are primarily electronic. Every month, I deposit his allowance into his credit union account. Any money received as a gift, he gives to me to take to the credit union. (I’m lucky—I have a branch on my work campus so it’s convenient for me to make the deposit for him.) I bring back the deposit slip, and he knows where he stands.

Now, my son’s goal is a high-end computer system that can handle graphics-intensive online video games. Pretty much every penny is going toward the computer fund.

Well, almost.

The $2 he earns per week taking out the trash for our elderly neighbor? Generally that goes to buying songs or apps from iTunes. I admit, Mom doesn’t begrudge him when he may want a couple of extra songs. I’m pretty sure my mom covered the cost of a Commodores, Styx or Billy Joel 45 for me on a few occasions.

Even cooler, he is doing research to find out what computer would make the games run better, what keyboard and mouse are compatible, and what speakers have the best sound. He’s investigating the how-to for using his TV as a computer monitor, bringing his overall cost down. He’s determined to get the best computer system for the money he has, and he’s willing to save until he gets there, which looks like mid-August at this point.

I’m just afraid his next savings goal is going to be … a car.

Michelle Willits is manager of new alliances at CUNA Strategic Services in Madison, Wis. She joined Credit Union National Association in 2003 as a web associate editor for News Now. Michelle worked in newspapers in Montana, Illinois, Colorado, and Nevada before moving to Wisconsin. A 1988 graduate of the University of Montana-Missoula, she is involved with the UM Alumni Association House of Delegates and the UM Alumni Band. Her 12-year-old son rocks.

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DSEF & CBBB – Go On, Trust Me: Why We Trust Some People But Not Others

By Holly Doering

Ever think about why you trust some folks and not others? Author and psychologist Michael Lovas once conducted an experiment using body language. He stood at one end of the airport and walked toward someone at the other end, copying their gait, head position, and hand gestures. Almost always, the other person nodded, smiled, or otherwise acknowledged — even kids who looked like gangbangers.

I can remember a customer review on www.bbb.org that mentioned the author was initially inclined to trust a certain business because of the store cat, a well-fed, rescued animal. But the customer ended up unhappy. I don’t know who is wrong, right or misunderstood in that situation, but I do know this: If you want to “start with trust” when you research a company, it’s great if they’re kind to animals, a family-owned, multigenerational minority business, donate to charity, or in some other way seem similar to you. But!

The real substance is their track record. When you check out a company at www.bbb.org, you’re starting to build a picture of its past actions in the marketplace. Are they properly licensed? Do they generate a pattern or volume of complaints? How do they handle complaints? Remember that scam artists love to prey on your sympathies by telling you they, too, are Christian, policemen, disabled, teachers or something else that seems trustworthy.

A recent study at the Kellogg School of Management found that using subliminal clues, like the name of a good friend, could stimulate feelings of trust for a stranger without people realizing it. Con men, the professor says, commonly drop names to stimulate trust. So investigate before you invest: A gut feeling is fine, but trust ideally is earned.

Previously published in the Spokane Spokesman-Review.

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DSEF & CBBB: Can You Get Rich Quickly By Flipping Houses?

By Holly Doering

This weekend, a company is coming to my town to hold a free seminar on “flipping” houses. According to our state’s Department of Labor & Industries, flipping is defined as owning a property for less than one year, making more than $500 in improvements, and selling the property with the intention of monetary gain.

The company in question has advertised in the past that you could earn between $3,000 and $10,000 a month with their program. Now they just say you’ll earn cash and build a massive residual income stream. It’s supposed to be pretty easy. Sound like a sweet deal?

Not so fast. Here’s the rest of the story:

1) While initial seminars are free, additional seminars cost $1,500. You’ll also be encouraged to invest in more training—up to $25,000.

2) Fox Business says that to make a living flipping houses, you’ll need to have at least half a dozen going at once. Other sources caution that flipping isn’t for the financially strapped—it requires cash reserves.

3) Even if you only flip one house per year, your state may consider you a “contractor,” which means you’ll need to be licensed, bonded, and insured with L&I. If the IRS considers you a “dealer-trader,” you’ll have to pay self-employment taxes.

4) This company has earned an F rating with the BBB, based on a government action alleging deceptive trade practices and consumer complaints reporting trouble canceling purchases and obtaining refunds. Always check the track records of companies atwww.bbb.org before doing business.

According to MSN Real Estate, house flipping is not as easy as it looks on TV. They report that on the original video of the A&E reality show “Flip This House,” there was even a warning stating “Do not try this at home. It’s for trained professionals. You will lose money.”

Making money in real estate is possible. But like anything else, it takes time and effort. If you attend a seminar like the one described above, ask a lot of questions and read contracts thoroughly before signing. (Make sure you get the exact name of the seminar you attended.) Understand any cancellation clauses or refund policies too.

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DSEF & CBBB: Tips for Ordering Online…says Carol

Tips for Ordering Online…says Carol

By Carol Odell

A friend ordered a prom dress from China through eBay for her daughter. Before ordering she had researched the company’s track record and found it stellar.

After the prom dress didn’t arrive in the promised time, she contacted the company only to learn that the dress had been shipped to an address in North Carolina. Communication with the company was frustrating as there was a language barrier.

Having not received an acceptable response from the company, my friend contacted eBay. Bad news, she was told because she had ordered the dress as a “guest” and not a member of eBay there was nothing eBay could do, their dispute resolution process was only for members.

Since she went through PayPal she decided to contact them as well. Again, the same story, since she was a guest and not a member of PayPal, there was nothing they could do. She is out $169.00 — and worse, she had an extremely disappointed daughter.

My friend has learned you cannot make any assumptions when ordering online even when dealing with a highly rated company, each company will have its own policies. Make sure you know what they are.

Some tips to follow before ordering are:

Know what the return policy is with all parties involved.
Is the return policy the same for all customers?
Know what will be the latest shipping date? Also, note that it could be after the return policy date voiding your chances to return the item.
What is the policy if the order gets lost? Be sure you file a claim within the allotted time frame. Companies may try to put you off past the timeframe to file a claim.
Remember to only use a credit card, not a debit card.
Print out confirmation of the order with the promised shipping date.

Do you have an interesting story about ordering online? Love to hear it.

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DSEF & CBBB: Save Money Through Energy Efficient Products…by Double Checking the Claims

Save Money Through Energy Efficient Products…by Double Checking the Claims

By Jason McGlone

Gas and electric costs are rising, and they’re not showing any signs of slowing down. This has many consumers looking for a way to save. Numerous home improvement businesses promise increased efficiency and ultimately huge savings on your energy bills for anything from doors to furnaces to windows. Thing is, the savings they advertise isn’t usually the amount that you or most others will come close to saving.

In fact, the Federal Trade Commission recently settled with several replacement window businesses over ads claiming more savings than they could deliver. For the record, the ads claimed anywhere from a 35%-50% savings. The FTC found that the window companies couldn’t show this kind of savings—the ultimate result of this were significant fines, as well as being prohibited from making similar claims in future advertisements.

BBB urges consumers to exercise caution when shopping for home improvement products and services. Specifically, if a business is claiming energy bill savings, it’s a very good idea to examine how much they’re claiming and to think about whether or not that amount is feasible. Can you expect to save some cash if you’re getting new windows or a new furnace? Sure. How much? Putting an exact figure on it can be difficult to nail down.

There can be many aspects involved in ensuring your home is energy efficient. Are your doors drafty? How old is your furnace? Moreover, what kind of heating and cooling system do you have? Do you keep electronic items plugged in? This is by no means an exhaustive list, but the point remains: no single upgrade will save you “half” on your energy bills.

So, when you’re in the market for any home improvement upgrade, it’s worth paying attention to energy efficient products—they can save you money. But when you see claims that seem too good to be true, it’s time to start asking questions.

For more information on energy efficiency labels, visitwww.bbb.org/blog/2012/04/energy-efficient-windows-are-clearly-better-but-how-do-you-compare.

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DSEF & CBBB: 7 Ways That Consumers are Wasting Money

7 Ways That Consumers are Wasting Money

By Ryan Gillis

Wasting money doesn’t actually mean you are bad with money, it just means that like millions of other Americans, you spend too much money on things that can be easily made less expensive, reports MSN.com. MSN outlines the 7 most common budgetary mistakes:

1. Investing in expensive mutual funds

Mutual funds that charge high fees take large percentages of your returns, so it would be wise to look for mutual funds that charge a low fee rates annually. Any mutual fund that charges less than 0.5% in fees annually is a good number to look for.

2. Ignoring your credit score

A low credit score means less money in your pocket. In many cases, the lower your credit score the more money you will pay on interest rates, and other expenses such as auto insurance premiums. A low credit score can even effect whether or not you get job as some employers take credit score into consideration when hiring.

3. Failing to lower your rates

Many consumers just accept the interest rates that are paying when in reality if they only asked for a lower rate, especially on credit cards, it may actually be effective. In the case of mortgages, car loans and student loans refinancing is the best option for lowering rates.

4. Overpaying for car insurance

Reducing car insurance premiums is not very difficult with a little bit of effort. Auto insurance companies offer a lot discounts, and comparing rates of insurance companies online takes just a few minutes.

5. Buying brand name products

Once consumers get past all of the slogans and fancy commercials, the product that brand name companies put is basically the exact same same as off brand ones. Off brand labels can also save the company a great deal of money, and offer similar quality.

6. Buying too much life insurance

The key to buying life insurance is to only buy the coverage you need at the cheapest price. For this reason term life insurance insurance is more popular than a whole life policy. As lifestyle conditions change, it , may helpful to alter your coverage or even eliminate it all together.

7. Failing to take the company 401k match

Many companies have programs in place where they will match employees 401k contributions to a certain extent. In order to take full advantage of these contributions, it is necessary that the employee contribute a certain amount. By not taking advantage of these programs, employees lose out on free money.

For more information, visit http://finances.msn.com/saving-money-tips/6930544.