Archive for October, 2011

What is factoring? (business factoring)

Wednesday, October 26th, 2011

-from the European Union Federation:

Sometimes referred to as a Full Service Factoring, this provides the complete answer to slow-paying customers, shortage of working capital and if needed, protection against bad debt losses. If credit protection is part of the Factoring agreement, it is referred to as “non-recourse” Factoring. A Factoring agreement where the credit risk on the debtor remains with the seller is called “with-recourse” Factoring.

With a Factoring solution the Factor agrees to pay an agreed percentage of approved debts as soon as he receives an assignment, or notification, of the invoice. The percentage depends upon a number of factors, but 80-85% is common. The balance, less charges, is paid when the customer pays. This flexible finance keeps pace with business growth as the funding is dynamically linked to the turnover of the company. The Factor will also undertake all credit management and collections work, following an agreed credit policy designed to ensure faster customer payments without loss of goodwill. The savings in administration are substantial and faster customer payments mean lower levels of advances and lower interest costs. There will normally be a charge for the collections service and, if it is required, for bad debt protection; this will usually be expressed as a percentage of turnover. An offer of factoring will take the form of a formal quotation after the Factor gains an understanding of a business and the workload to be undertaken.

For finance provided in advance of collections there is usually a discount charge calculated on the day-to-day usage of funds. It is likely to be comparable with normal secured bank overdraft rates. This type of finance is generally of interest to start-up and SME sized companies.

Factoring is offered in all EU countries and is especially important in the more emerging EU markets.

Where are the jobs now? Better to open a restaurant, wow.

Monday, October 24th, 2011

Ten years after the peak of the bubble, only one in six of the high-tech companies founded in 2000 still survive, and only one in three of the jobs created then still exist, according to a new study by the U.S. Bureau of Labor Statistics. Internet-related startups, the darlings of Wall Street, fared even worse: Only 8 percent, or about one in twelve, survived.

But all new businesses have a terribly high failure rate, don’t they? Not exactly. In the six-county San Francisco Bay Area, it turns out that about 30 percent of businesses started 10 years ago are still around, a survival rate that’s nearly double that of high tech, says Amar Mann, chief regional economist in the bureau’s San Francisco office. “You would have done better to open a restaurant,” he says.

In the first nine months of last year, venture capital firms invested $383.6 million in the mobile industry. But in the same period this year, funding dropped by 57 percent to $163.2 million, according to the National Venture Capital Association (NVCA) and Thomson Reuters. Moreover, mobile funding has slowed every quarter this year, from $81.8 million in the first quarter to $55.6 million in the second and $25.7 million in the second.

article by Bill Snyder of Infoworld

Minimum Viable Personality – Product

Thursday, October 20th, 2011

MINIMUM VIABLE PERSONALITY - by JLM

MOST IMPORTANT STEP FOR BUILD PRODUCT IS BUILD PRODUCT.

SECOND MOST IMPORTANT IS BUILD PERSONALITY FOR PRODUCT.

NO HAVE PERSONALITY? PRODUCT BORING, NO ONE WANT.

BREADORBACON

PERSONALITY BETTER THAN MARKETING

WHEN CHOOSE PRODUCT, HUMANS ONLY CARE ABOUT DOES WORK, AND IS INTERESTING.

WORLD ALREADY FULL OF THINGS DO WORK. MOST BORING.

PERSONALITY = INTERESTING. INTERESTING = CARE. CARE = TALK. 

EVERYONE CARE AND TALK ABOUT PRODUCT? YOU WIN.

CAREPLUSTALKISWIN

SELL TO FRIENDS, NOT STRANGERS

PERSONALITY MAKE PRODUCT FRIEND. YOU HELP FRIEND. YOU FORGIVE WHEN FRIEND NOT PERFECT. YOU WANT FRIEND WIN.

BORING STRANGER?… YOU NOT.

PERSONALITY IS API FOR LOYALTY. NO ONE CARE WHICH BORING STRANGER IS NEXT. BUT ALWAYS WANT FRIEND NEXT. 

LOYALTYPORT

PERSONALITY MAKE MEANING

CAN PET ROCK. PET DOG BETTER. PET DOG HAVE MEANING.

BORING PRODUCT IS ROCK. NO HAVE MEANING. INTERACT WITH PERSONALITY DIFFERENT. HAVE MEANING.

INTERESTING PRODUCT THAT GIVE FRIENDS MEANING = MOST WIN OF ALL.

NOTAROCK

HOW NOT BE BORING

HAVE PERSONALITY EASY. ANSWER THREE QUESTIONS:

1. HOW YOU CHANGE CUSTOMER’S LIFE? 

2. WHAT YOU STAND FOR?

3. WHO OR WHAT YOU HATE?

NOW HAVE MISSION, VALUES, ENEMY. THAT ENOUGH FOR MINIMUM VIABLE PERSONALITY.

KEEP IN BRAIN WHEN WRITE, TALK, BLOG, TWEET. ITERATE. IMPROVE WHAT WORK. DELETE WHAT NOT. PERSONALITY GROW.

NO BE CHICKEN

CHICKEN LIVE IN CAGE. NO CAN HAVE PERSONALITY INSIDE CAGE. 

LAST STEP IS SMASH CAGE, LIGHT BARN ON FIRE.

DO THAT, YOU WIN.

CHICKENWIN

And that’s because we said something that everybody knows, and everybody wants to be against, and everybody is just waiting for somebody else to stick their neck out and say what’s really true.

And that builds credibility, trust, and loyalty.

Having a personality, in an age when that’s difficult, and unique, and special, is going to be the only way to compete when everybody else is just as smart, logical, and effective as you.

 

How to get referals without really asking

Wednesday, October 19th, 2011

A well-known referral expert suggests “promoting referrals” instead of asking for them. Whenever a client expresses recognition of your value, say, “I’m glad you see the value of the work that I do. Please don’t keep me a secret.”

How do I beat Alzheimer’s

Tuesday, October 18th, 2011

Here are 10 strategies I found most surprising.

1. Have coffee. In an amazing flip-flop, coffee is the new brain tonic. A large European study showed that drinking three to five cups of coffee a day in midlife cut Alzheimer’s risk 65% in late life. University of South Florida researcher Gary Arendash credits caffeine: He says it reduces dementia-causing amyloid in animal brains. Others credit coffee’s antioxidants. So drink up, Arendash advises, unless your doctor says you shouldn’t.

2. Floss. Oddly, the health of your teeth and gums can help predict dementia. University of Southern California research found that having periodontal disease before age 35 quadrupled the odds of dementia years later. Older people with tooth and gum disease score lower on memory and cognition tests, other studies show. Experts speculate that inflammation in diseased mouths migrates to the brain.

3.Google. Doing an online search can stimulate your aging brain even more than reading a book, says UCLA’s Gary Small, who used brain MRIs to prove it. The biggest surprise: Novice Internet surfers, ages 55 to 78, activated key memory and learning centers in the brain after only a week of Web surfing for an hour a day.

4. Grow new brain cells. Impossible, scientists used to say. Now it’s believed that thousands of brain cells are born daily. The trick is to keep the newborns alive. What works: aerobic exercise (such as a brisk 30-minute walk every day), strenuous mental activity, eating salmon and other fatty fish, and avoiding obesity, chronic stress, sleep deprivation, heavy drinking and vitamin B deficiency.

5. Drink apple juice. Apple juice can push production of the “memory chemical” acetylcholine; that’s the way the popular Alzheimer’s drug Aricept works, says Thomas Shea, Ph.D., of the University of Massachusetts. He was surprised that old mice given apple juice did better on learning and memory tests than mice that received water. A dose for humans: 16 ounces, or two to three apples a day.

6. Protect your head. Blows to the head, even mild ones early in life, increase odds of dementia years later. Pro football players have 19 times the typical rate of memory-related diseases. Alzheimer’s is four times more common in elderly who suffer a head injury, Columbia University finds. Accidental falls doubled an older person’s odds of dementia five years later in another study. Wear seat belts and helmets, fall-proof your house, and don’t take risks.

7. Meditate. Brain scans show that people who meditate regularly have less cognitive decline and brain shrinkage – a classic sign of Alzheimer’s – as they age. Andrew Newberg of the University of Pennsylvania School of Medicine says yoga meditation of 12 minutes a day for two months improved blood flow and cognitive functioning in seniors with memory problems.

8. Take D. A “severe deficiency” of vitamin D boosts older Americans’ risk of cognitive impairment 394%, an alarming study by England’s University of Exeter finds. And most Americans lack vitamin D. Experts recommend a daily dose of 800 IU to 2,000 IU of vitamin D3.

9. Fill your brain. It <http://brain.it/> ‘s called “cognitive reserve.” A rich accumulation of life experiences – education, marriage, socializing, a stimulating job, language skills, having a purpose in life, physical activity and mentally demanding leisure activities – makes your brain better able to tolerate plaques and tangles. You can even have significant Alzheimer’s pathology and no symptoms of dementia if you have high cognitive reserve, says David Bennett, M.D., of Chicago’s Rush University Medical Center.

10. Avoid infection. Astonishing new evidence ties Alzheimer’s to cold sores, gastric ulcers, Lyme disease, pneumonia and the flu. Ruth Itzhaki, Ph.D., of the University of Manchester in England estimates the cold-sore herpes simplex virus is incriminated in 60% of Alzheimer’s cases. The theory: Infections trigger excessive beta amyloid “gunk” that kills brain cells. Proof is still lacking, but why not avoid common infections and take appropriate vaccines, antibiotics
and antiviral agents?


What to Drink for Good Memory

A great way to keep your aging memory sharp and avoid Alzheimer’s is to drink the right stuff.

a. Tops: Juice. A glass of any fruit or vegetable juice three times a week slashed Alzheimer’s odds 76% in Vanderbilt University research. Especially protective:blueberry, grape and apple juice, say other studies.

b. Tea: Only a cup of black or green tea a week cut rates of cognitive decline in older people by 37%, reports the Alzheimer’s Association. Only brewed tea works. Skip bottled tea, which is devoid of antioxidants.

c. Caffeine beverages. Surprisingly, caffeine fights memory loss and Alzheimer’s, suggest dozens of studies. Best sources: coffee (one Alzheimer’s researcher drinks five cups a day), tea and chocolate. Beware caffeine if you are pregnant, have high blood pressure, insomnia or anxiety.

d. Red wine: If you drink alcohol, a little red wine is most apt to benefit your aging brain. It’s high in antioxidants. Limit it to one daily glass for women, two for men. Excessive alcohol, notably binge drinking, brings on Alzheimer’s.

e. Two to avoid: Sugary soft drinks, especially those sweetened with high fructose corn syrup. They make lab animals dumb. Water with high copper content also can up your odds of Alzheimer’s. Use a water filter that removes excess minerals.

5 Ways to Save Your Kids from Alzheimer’s Now
Alzheimer’s isn’t just a disease that starts in old age. What happens to your child’s brain seems to have a dramatic impact on his or her likelihood of Alzheimer’s many decades later.

Here are five things you can do now to help save your child from Alzheimer’s and memory loss later in life, according to the latest research.

1. Prevent head blows: Insist your child wear a helmet during biking, skating, skiing, baseball, football, hockey, and all contact sports. A major blow as well as tiny repetitive unnoticed concussions can cause damage, leading to memory loss and Alzheimer’s years later.

2 Encourage language skills: A teenage girl who is a superior writer is eight times more likely to escape Alzheimer’s in late life than a teen with poor linguistic skills. Teaching young children to be fluent in two or more languages makes them less vulnerable to Alzheimer’s.

3. Insist your child go to college: Education is a powerful Alzheimer’s deterrent. The more years of formal schooling, the lower the odds. Most Alzheimer’s prone: teenage drop outs. For each year of education, your risk of dementia drops 11%, says a recent University of Cambridge study.

4. Provide stimulation: Keep your child’s brain busy with physical, mental and social activities and novel experiences. All these contribute to a bigger, better functioning brain with more so-called ‘cognitive reserve.’ High cognitive reserve protects against memory decline and Alzheimer’s.

5. Spare the junk food: Lab animals raised on berries, spinach and high omega-3 fish have great memories in old age. Those overfed sugar, especially high fructose in soft drinks, saturated fat and trans fats become overweight and diabetic, with smaller brains and impaired memories as they age, a prelude to Alzheimer’s.

Excerpted from Jean Carper’s newest book:
“100 Simple Things You Can Do to Prevent Alzheimer’s”

Why take advantage of Facebook RECOMMENDATIONS

Tuesday, October 4th, 2011

Just when you thought FaceBook was sleeping, they announce750 million people using FaceBook and very quietly they roll out a new feature to Pages, RECOMMENDATIONS.  Yes, I am shouting, this is going to be huge. No, they haven’t pushed reviews into the newsfeed (which I have been patiently waiting for). Instead, they empowered people to write a recommendation on your Page which hits their NewsFeed and links to your Page. Is this HOT or NOT? I say it is HOT, VERY HOT. The real question is, what is your strategy for getting people to write recommendations on your Page? Have you created a “Deal” giving people the incentive to “Check-in” at your Spa? If all of the above is on your “someday list,” then you might want to add “increasing revenue” to that list as well!!! FaceBook is changing quickly, are you keeping up?