Logistics includes all the process involved right from purchasing the raw materials until the product is delivered to the customers. It includes processes, such as, purchasing, inventory management, warehousing, production, storing, shipping etc. Improvements in logistic management would benefit any company from large corporations to small businesses significantly.

Advantages of Logistics Management:

Logistics improvements can effectively reduce the cost of doing business as well as improve profits greatly. It also improves efficiency, reduces inventory, improves delivery time and customer satisfaction, as well as giving your business a competitive edge. You can manage and improve the logistics or outsource if you cannot do it yourself. When you opt for out sourcing, you get a professional to help improve your logistics, as well as to reduce costs, which may take some time if you plan to do your own logistics improvements. Businesses have to keep their logistics in order; if they want to succeed Careful planning as well as incorporating the plans will help achieve that.

Different Areas of Logistics:

Several service providers, such as, accountants, attorneys, bankers insurance agents, information technology experts, website developers, e-commerce gurus, travel service providers and real estate service providers keep logistics for small businesses in order. If the advice of these people is sought and used, small business will definitely see improvements in all aspects of the business. They have to be consulted when a small business is to be started, as they will help your business take the right steps to ensure success. Since their help in keeping logistics for small businesses in order is tremendous, they have to be selected with care.

Consider choosing reputable, ethical and experienced service providers to ensure they help improve logistics for small businesses. Make sure you are clear about how they will help your business, what you expect from them and to make sure you are able to work within your budget. These people will help logistics for small businesses by helping set goals to be achieved within certain period of time. Carefully choose people who understand the nature of your business and are trust worthy.

Your businesses will definitely grow, when all logistics operations are carefully planned and in harmony with each other. Failure to coordinate logistics will result in loss of time, money as well as effort and will be a step towards failure of the business. When you are not sure how to improve the logistics, consider professional help as these experts can improve logistics for small businesses without much ado at reasonable costs. There are consultants; large as well as small firms offering logistics help for all kinds of businesses. Choose wisely keeping in mind if they are suitable as well as economical.

A few weeks ago I participated in a seminar on exit strategies – preparing for the sale of a business or succession to following generations. After the program, one of the people in the audience asked me why there are so many books, seminars, and other programs to help people start a business and so few to help guide people when they are at the other side of the business-owning process because, in many ways, it is easier going into business than getting out.

To get into business you need some capital to invest, an idea, and the time it takes to plan and put all the pieces together. While I’m not suggesting it, one can open a small business in a relatively short period of time – as little as a few weeks or months. To get out, unless one is very lucky, it takes much longer as there are many complex tax and estate planning considerations and valuation issues. Additionally you need motivated people who want to either purchase or carry on the business. The process can take a great deal of time, often it takes years.

An exit strategy needs to be planned carefully in order to accomplish the owner’s goals. At the seminar the speakers gave a general, “tip of the iceberg” overview of the many options and considerations available to the business owner(s) since each situation is specific, unique to each business and owner. The most important kernel of knowledge I came away with is to talk to your accountant, attorney, and estate planner very early in the process to discover the multitude of overlapping considerations and to start making decisions about them.

My portion of the seminar discussed the importance of having well documented systems and processes in place. This documentation will add substantial value to the sales price Training manuals, customer and supplier lists to hiring guidelines and office procedures will make your business more attractive to a potential buyer because they can learn the business faster and make it easier to manage.

Whether you run a brick and mortar store front,(off-line store), or you are an internet marketer, everyone knows that profits are what it’s all about. If your business is not producing profits then you are not going to be in business for very long. That is unless you are independently filthy rich and have nothing better to do with your money. How do we increase profits, well the two basic ways come to mind. We could increase the selling price or we could increase the number of sales. It is my opinion that the second choice is the best and more acceptable method to choose. Selling your product or service for a fair market value as opposed to an over inflated price will draw more attention, therefore raising the opportunity for increased sales. The marketer that over inflates the selling price stands a better chance of driving away the market wise shopper. See if the following thoughts are not fuel for that blazing inferno.

When constructing your website or community image, establish the image that you are a real person not just another website, or corner store. Start by creating a profile page or an about us page where you can write a short informational paragraph about yourself and or your family, include a picture of yourself, and a history of your experience in your field of business. This could also be done with a press release as well.

Everyone loves to gain more knowledge, even about things they already know so you could publish your own e-book and give it away for free on your site as well as in your free e-zine or free news-letter. This should increase your site traffic, subscribers, and sales, which as we said, more sales equals more profits.

Really stoke those flames with multiple streams of income on your site by promoting affiliate programs, selling your own products and you could even sell advertising space, and have a Google AdSense program on your site.

When you are selling your own products remember to research the market first before creating those products. Without any demand for your product you will not have sales.

Do not overwhelm your customers by having too many products or services on your site at one time. In many cases too many choices drives customers away do to confusion of which item to buy, instead of making a sale. If you have a large variety of items to offer try displaying them on your site in a rotating fashion.

Also remember you can place items on your “Thank Page”, which will become your immediate backend sales. Make these high profit impulse items, items that your customer will feel they can not do without.

Establish your credibility by always having a “Contact Page”, the more ways of contacting you that you give your customers the more apt they will come to trust you and continue to return to your site and buy from you.

You should always promote what you are selling in all the content and free give a-ways on your site . Should visitors to your site not read your sales pitch they will most often read your free offerings. Any downloadable written informational item that you give a-way should always be branded with link backs to your site and products.

Along with the idea of creating your image as a person keep in mind that even customers like to be complimented from time to time. Therefore in the construction of your sales page and within the content of your website be sure to strategically place general compliments to your customers, this will place them in a good mood and you will win their trust, thus inspiring them to buy from “you”.

Be sure not to forget to always use the “P.S.” in your ad copy. This serves as a multifunctional tool for any ad copy, where you will have your “call to action” phrase, your “major Free Bonus”, and or repeating a very “strong benefit” of doing business with you.

A service mark identifies and distinguishes the source of a service. It is any word, name, symbol, device, or any combination of some or all of them used or intended to be used in commerce. These service marks are used in advertisements for a service. It is better to register the service marks and safeguard your company and the usage of your service marks.

Service Marks: How to File.

The application for registering service marks can be filed only by the owner of the mark. The owner is the person who uses or controls the use of the mark as well as controls the nature and quality of the services offered. Make sure your service mark is not a copy of any other mark as well as that it is uniquely yours, before filing registration forms.

Before registering the service marks make sure you have a scanned copy of the service marks to be used as well as being sure what class your service come under and your basis for filing. The application for registering service marks may be filed electronically over the Internet using TEAS. While visiting the TEAS website, look for application forms and select the appropriate form. The site is user-friendly, and hence navigation is easy.

You will be asked to give the name, address, phone number and the email address of yours as well as to indicate what kind of entity it is.

The nature of the mark has to be indicated, whether standard format where you have to type in the mark, or if it is a special form, you have to scan in a copy of the intended service mark. The form asks you complete a list of services and assigned international class codes for each service listed and you have to pay fees for each class listed. You will also be asked to file a specific filing basis if you are currently using the mark or intending to use the mark, foreign application and registration exists for same services etc. if you choose the ‘in use’ option, you will be required to provide an exact copy of the service mark exactly as it is used.

The total fee depends on the number of classes the service associated with the service mark are classified. Credit card, automated deposit account, and electronic funds transfer are the three kinds of payment options available. The fee will be computed and presented to you.

These are a few of the procedures involved in filing service marks in order to register them. Registering gives you the sole right to use the service mark as well as control over the way it are to be used. Registering service marks is recommended to protect your business. There are firms that offer their services as well as products to help filing service marks.

Disasters can happen any time and anywhere. Chemical spillage from overturned truck, power outages, brownouts or surges, windstorms, tornadoes and earthquakes can affect your business adversely. Prepare your employees and clients to respond to any possible disaster in advance by providing training and safety information. No business should operate without a disaster plan or back-up systems. Develop risk or contingency management plans, considering, human resources, physical resources and business continuity.

Building a Plan:

• Keep phone lists of key employees and customers handy with copies of the same to key staff members.

• Designate and provide one remote number on your office voice mail system to record messages for employees.

• Have programmed call forwarding for main business lines. If you cannot get to office, call in and reprogram phones to ring elsewhere.

• Install emergency lights that turn on in case of power outage.

• Make sure the employees can leave the premises without a key and do not get locked in.

• Use UL-listed surge protectors and battery back-up systems to protect sensitive equipment and help prevent computer crash due to power blackout.

• Keep NOAA Weather Radio with a tone alert feature for early severe weather warning so protective actions can be taken.

• Stock a minimum supply of goods, material or equipment for business continuity, even through disaster.

• Protect valuable property and equipments with insurance.

• In case of unexpected confinement at your business, keep emergency supplies like first aid kit, tools, flashlights, food and water to tide over crisis.

Reducing Potential Damage to Property:

• Prevent or reduce damage in your work area by taking a few precautions.
• Bolt tall bookcases or display cases to wall studs.
• Keep large objects secured on lower shelves to prevent fall and resulting injury.
• Fasten breakable objects with hook and loop fasteners on stands.
• Keep drawers and cabinets latched to prevent flying open and spilling contents.
• Secure framed pictures and mirrors to the wall with closed screw eyes.
• Install flexible connectors to appliances fuelled by natural gas.
• Have shutters to close windows against severe storms or hurricanes.
• Install automatic fire sprinklers.

Protecting the Business, Employees and Customers – A Business Continuation Plan A disaster plan for your business should aim to achieve the minimum dislocation and have the business up and running with a minimum loss of time and resources. Some suggested measures are:

• Appoint a second in command who has full authority to take decisions in your absence.
• All members of should be clear about their responsibilities.
• Have “hot” standby for your main computer. Back-up copies of data should be kept at a different site. Critical paper records should be well protected.
• Designate and train one staff member in each work shift as safety coordinator. He should contact owner and operator in times of emergency.
• Contact your local Red Cross Chapter to teach preparation against disaster.

Being prepared at all times for an event that cannot be predicted requires careful forethought and detailed planning. You will reap handsome dividends if you map out and implement a disaster recovery plan for your business. Do take all employees on board about details of the plan and the various roles they are required to perform. Rehearsals or mock drills should also be carried out to test the efficacy of your plan.

The Internet has indeed made the world a smaller place. From the comfort of their homes, people can find information and learn details about almost any topic under the sun by just typing key search words in optimized search engines such as google, yahoo, ask.com etc. just to name a few of the most popular search engines.

Information is readily available giving details about any topic that you may desire to know more about. Similarly, a person needing to know details about any business can find excellent, detailed and current information by using the business search options. They can just type in key words related to a business and a completely new vista, containing in-depth information, opens to them.

Advantages of Business Search Options:

By knowing how to use the business search options available to them, they can get information related to all aspects of the business, such as, explanation about the business, what are the business processes involved, what kind of premise is required to operate your business from, and details about what kind of lease may suit your business best. Also, one can get information regarding insurance cover needed, the finance needed, how to get the finance, how to approach financial institutions and submit well written loan proposals that will guarantee loans will be granted. The detailed business plans for the chosen business, the equipment and how to use the equipments needed, the licenses and zoning permits required and who to approach to get the required permits, what kind of material is needed and who supply those materials etc. can be obtained. Fe of the details that can be researched about a business using business search options. Business search options are very popular as the results are instantaneous and easily available.

Some business search options give detailed information regarding the suppliers and traders associated with a particular business in a particular geographical location making it very easy for business to find dealers and suppliers of material needed by their business, helping their business improve.

Finding information about the federal and other government grants available for your business is just a mouse click away. Moreover information regarding how to improve your business by adopting advertising and marketing strategies and how you can improve business credit in order to be able to get loans easily as investors will consider you as a low risk investment.

There are sites dedicated to certain businesses with business search options available, which can give you a list of businesses operating in any particular area in any corner of the world making it possible to have global business interactions with companies in far away countries.

Thus, business search options have made it possible for even laymen to understand details about any business much better. Detailed information about any business from any corner of the world is made easily viewable by using good business search options available in the Internet.

The U.S. Federal Government is the nation’s largest provider of financial or monetary assistance for small businesses. Since 1953, the Small Business Administration (SBA) branch of the Federal government has helped many small ventures that have become household names today. The government considers small businesses very seriously. They realize their obligation to promote and develop these firms for the integrated development of the whole nation.

Small Business Administration:

The SBA does not directly offer grants to individuals for business expansion or start-up. For individual set-up’s, it provides a wide variety of loan programs on easy pay back terms. However, the SBA does offer many types of grants programs indirectly to benefit small business entrepreneurs. SBA grants programs are specifically designed to expand and enhance those organizations that provide small businesses with technical or financial assistance. These monetary grants generally support state and local governments, non-profit organizations and intermediary lending institutions.

Small businesses can in turn avail the grants from these institutions. The entrepreneurs need to have a workable business plan and meet the required basic criteria to avail the loan or grant from SBA supported institutions. These funds can be then utilized to either set-up or expand the existing businesses. SBA has very special and easy terms to offer business grants to women entrepreneurs and members of the ethnic minority groups to help them become economically independent. This leads to numerous co-related activities and finally development of underdeveloped regions of the vast country. It brings about a social change and societal uplift.

Benefits of Grants from SBA:

A grant is a direct financial contribution made without any expectation of a repayment but with very specific expectations of the required outcome. These programs are designed to encourage and assist entrepreneurs in starting their own ventures. This promotes an economic development and integrates the individuals into the mainstream of American economic society. Organizations that give grants exclude for-profit businesses, but encourage small businesses to take their grants. The grants are readily provided after meeting certain basic criteria.

Women entrepreneurs are the largest beneficiary’s of government’s generosity for special encouragement. Federal grants are extended to those non-profit organizations that provide counseling, training and other technical support to women groups. The SBA runs special help centers and women’s business centers to train the women technically. They give access to credit and capital, provide with government contracts etc as well.

Ethnic minority groups too are special beneficiaries of federal government’s financial grants on easy terms. SBA runs a Minority Enterprise Development Program known as the 8(a) program. This helps the minority entrepreneurs to bag the government contracts for the utilization of their products.

Small business people or groups are very hard working and enthusiastic about their business. They spend quality time to develop it and stay in touch with their work, as they do not have too many people to help. Their businesses take precedence over their family, friends or even vacation plans. They stay in constant touch to avoid failure or any unprecedented disaster. This helps in successful maturation of their businesses after an initial set-up time.

The US Federal Government recognizes the issue of improving disadvantaged people’s lives. Their constituents have voted congressmen and senators to power. Their primary election campaigns are based on the promise to minorities for their economic empowerment. t is these promises, which drive the politics of grant giving by Federal and local State governments.

Grants for Small Business:

A grant is a direct financial contribution made by certain organizations to the needy. It is made for very specific outcomes with no expectations of repayment. These grants are based on certain criteria and are designed to encourage entrepreneurs to start or expand their small business ventures. Millions of dollars in the form of small business grants are available for any minority group of Americans. They may be African Americans, Asian Americans, Hispanics, Indian Americans or any other minority.

Minority Grant Programs:

Government minority business grants are listed on all the government grants assistance programs. They allocate funds for lending to minority entrepreneurs, student business training, unemployed, community-based business opportunities, real-estate ventures and investment, research work and inventors, amongst others. A woman entrepreneur or an ethnic minority is entitled to funds specially earmarked for their business development.

Any entrepreneur seeking the fund for any type of business or any personal project must have a viable business plan. They should focus on how well their business would survive independent of these programs. Eventually, your aim should be to build a successful business. Have some sort of maturation plan in place to succeed without minority funds within three to five years. A lot of far-sightedness, hard work and perception of market need of your business are very important. If your business maturation plan is not in place, you are in a great risk of either business failure or being bought out. A good financial opportunity goes waste. So apply for these minority business grants and funding for a great opportunity to start your own venture and improve your social and financial status.

Businesses have to carefully plan and implement strategies to tackle new markets, garner new customers and improve sales. They must have the acumen to select the right growth strategy to make an impact and have an adequate hold on the new market. The key to success is to know how to tackle new markets and build new customer bases.

Market Analysis: Analyzing the current trends and determining what changes are necessary to be implemented in order to capture the market is the first step. Study the market and determine your competitors, make a competitive analysis, determine ways to better your competitors, understand what your customers need and develop your products accordingly. Instead of targeting a general market try targeting specific markets and develop adequate marketing and advertising strategies so that customers are familiar with your brand name. Make sure there are value added benefits to entice customers to try your new range of products, make sure that the new range does not eclipse existing product line and both are given equal prominence.

Growth: In order to tackle new markets, you may target new customers with a new line of products as well as to improve existing products adding new features to grab the attention of existing customers. Changes can be made to the product introducing variety to the existing line of products there by targeting a slightly different market. Change and growth is necessary to prevent the company from stagnating or even worse suffer loses due to monotony. Some companies tackle new markets by developing a new niche. Study your target market and determine what your customers need and try to develop products that will suit their needs. Make sure the quality of your products is consistent and that it is never compromised.

Developing Your Sales Channels: Getting your existing distributors to distribute your new lines, as well as, carefully selecting, recruiting and establishing good relationships with new distributors is essential. Develop an in-depth marketing strategy and implement it carefully to make sure your products are popular with the customers is essential.

The Internet has become a boon as products can be advertised and broken into new markets easily using permission based e-mail marketing strategies. Manufacturers can dedicate websites to their products and help customers learn more about the products from the comfort of their homes. Offer free newsletters services whereby you can acquire a list of potentially interested candidates who you can follow up periodically through e-mails too. When carefully drafted strategic business plans are used, a business is sure to succeed in tackling new markets.

Businesses have spent a lot on employee training and their development in order to improve sales, customer satisfaction, and customer retention and accelerated growth of the business. While it is no big deal for huge corporations to organize and implement these training programs without a second thought, it is not so easy for small business that operates on a tight budget. It is an acknowledged fact that training and development of employees is necessary for any business even those that have just a few employees too. These small businesses benefit from quick, effective, short duration training at economical rates, as training employees on a budget can be hard.

Tips to Train Employees within a Budget:

Businesses can conduct a needs analysis to correctly ascertain which areas their employees need training as well as try to shop for the most economical training available in that area. They have to have a clear perception of how they will benefit from the training, how to make sure that the employees implement the new techniques they have learnt and to make sure that with constant monitoring the employees significantly improve the businesses growth and sales.

Opt for individual training if only one employee needs brushing up on certain aspects such as leadership qualities etc.

Try web-based training, browsing sites that deal with the relevant topic, using CDs that can be economical as well as used to teach many employees. Several sites help teach people free of cost too, providing relevant information as well as guidelines regarding your area of work.

Try tele-classes, where in employees need not go physically to attend the classes and need not hinder the daily activities of the business as these classes are usually of just an hour’s duration. Groups can be taught using this method and the employees need to invest just a few hours a day to learn.

Conducting mini workshops can be also economical, where instructors teach them for a few hours a day for a short duration of time.

Try organizing a weekly session where teams can discuss topics relating their work such as latest books and new techniques and workout a plan to implement the new ideas effectively.

Try to make it fun as well as informal by getting to appoint those who have been trained to teach others where by they will both benefit as well as the company.

When an effort is made, small businesses will indeed find ways to ensure that training employees on a budget can be done effectively and economically. Shop round and get the best courses available at the lowest prices.

There are firms that offer help and their products to help people run businesses easily and efficiently.

As a small business owner, you are probably very concerned about crime by employees and its fallout on your business. To take care of any losses arising out of crime by employees, insurance companies offer employee dishonesty coverage. This insurance covers loss of money, bonds or property.

What the Employee Dishonesty Coverage Covers:

Employee dishonesty coverage is meant to cover your business against criminal acts of any kind by your employees. It could be theft with a view to financial gain, or willful damage to your property out of any motive.

1) Theft:
When employees steal money, equipment, property of any kind, or securities like passwords, bonds etc., you can suffer huge financial losses. Employee dishonesty coverage safeguards you from such loss.

2) Damage to Property:
Willful damage to property by an employee out of rage, revenge, or any other motive can also cripple your business. Employee Dishonesty Coverage covers this kind of damage.

Drawbacks of Employee Dishonesty Coverage:
One of the main drawbacks of the Employee Dishonesty Coverage is that the burden of proof lies on the owner. Insurance companies pay for losses only if it has been conclusively proved that the loss was due to theft by employees. Employee dishonesty coverage does not cover.

1) Unexplained disappearance of Property
2) Loss of employees’ property.
3) Damage that has been covered by another insurance policy.

Employee Dishonesty Coverage Basics:

Employee dishonesty coverage is meant to cover your business against any crime by employees. Some of the basic facts about employee dishonesty coverage are discussed below.

1) Employee dishonesty coverage offers blanket coverage for your business against theft by employees. All employees are covered under this policy.

2) The insurance limit is calculated on the basis of occurrence. If more than one employee is involved in a single instance of theft, the payout will be for a single occurrence.

3) The Knowledge and discovery period of the crime covers the time elapsed between the theft and its discovery by a senior official.

4) The loss limit of liability is a one-time payment with no yearly aggregate.

Employee theft is a real threat to businesses. What’s more, most insurance policies do not cover this kind of damage to business or property. Therefore, it is a good idea to opt for Employee Dishonesty Coverage. If you have any queries regarding the insurance coverage you should opt for, you can approach a small business consultant or insurance agent to help you choose the right Employee Dishonesty Coverage for you. After all, you never know when a disgruntled employee may damage your property, or embezzle fund from your account. Better to be safe than feeling sorry.

The logistics industry offers many lucrative business opportunities to the canny entrepreneur. Since instruments and machinery for transportation, sorting, building etc. are in demand in almost all industrialized nations, your logistics equipment business will flourish provided you follow certain guidelines. This article discusses how to start a logistics equipment company and how to make it flourish.

Logistics Business: Making a Start.

1) Decide The Kind Of Equipment You Will Deal In: The logistics equipments are as varied as the industries it caters to. You can go for transportation equipment like forklifts, carts, cranes, trucks etc. Alternatively, you can deal in machinery used in factories, like racking, sorters, packaging equipment etc.

2) Pick The Area You Wish To Be: Do you prefer manufacturing logistics equipment, selling them, or renting them?

3) Build a Brand: Once you have started your logistics equipment company, you must strive to build a brand name for yourself. People will deal with you not only if you offer cheap goods, but reliable and quality products.

4) Choose Customers Well: Do not just go by the volume of orders that a client places. Keep an eye on long-term growth prospects and try to build a good relationship with your customers. Their referrals can be of invaluable help to startup a logistics equipment company.

5) Location: Location is an important factor in your logistics equipment business. Your business must be located close to industrial belts.

6) Adherence to Quality: In the logistics equipment business, quality and price are both important factors. Never compromise on the quality of goods because you wish to cut down on the price.

Logistics Equipment Business: Maintenance Services.

An offshoot of the logistics equipment business is the maintenance business. The maintenance business is a challenging area, needing coordination between the clients in order to increase efficiency, implement cost effective measures and improve the level of service. The logistics equipment company must provide maintenance for equipments for transportation, communications, manufacturing etc.

Logistics Equipment Business: Material Handling.

Another subcategory of the logistics equipment industry, material handling deals with the design of logistics equipment. The aim of this business is to design better, cheaper and more efficient equipment. From designing farming equipment to stackers, hoppers, conveyers, silos and warehouses, material handling is an industry in its own right.

With the demand for logistics equipment services increasing, there was never a better time for starting a logistics equipment company. If you do not know much about the industry and want guidance, you can approach many consultants who can guide you and help you get loans for starting the business. With a booming of the goods and services sector, the demand for logistics equipment services is set to grow. So grab this opportunity by establishing a logistics equipment company of your own.

Outsourcing all or a part of your firm’s supply chain to third party logistics (3PL) providers has now become the norm across the industry. However, it is important to identify the right provider who can meet your particular requirements and maintain an enduring and healthy relationship, after the contract to engage him/her has been inked. This article outlines ways to get the most from your 3PL relationships, so that these are mutually beneficial to both the parties to the contract.

Managing Relationships:

The relationship with your logistics provider does not end with the signing of the contract. In fact, in many ways, it is just the beginning. You have an equal responsibility to nurture the relationship so that you get the benefits you had sought at competitive prices.

• Top Management Support: Logistics costs represent a substantial portion of a company’s budget. It is therefore important that the relationship with the PL provider is part of the firm’s strategy and sustains over the long term. This is possible only if there is top management support and commitment right from the outset. Such commitment then pervades to the lower echelons. The executive in charge of this function should be in tune with the corporate vision and goals, besides having logistics experience. Efficient supply chains have a major bearing on corporate performance and can lead to improved service levels.

• Contracts: 3PL providers have a proclivity to over-emphasize their abilities and promise more than they can deliver. A precise contract, with expectations, responsibilities and performance parameters clearly defined, will form the basis for an enduring relationship. Avoid generalities and stick to quantifiable standards of performance. Contracts form the basis of the relationship, but it will be futile to refer to it every other day in an attempt to enforce it. Rather, create an environment of trust so that functional efficiencies are optimized. The conflict resolution mechanism should also be clearly included in the contract.

• Functional Leeway: Once the services of a 3PL provider have been engaged, he must be allowed full operational freedom. If your research has been good and you have engaged a competent agency, it is his responsibility to leverage his expertise and provide the services contracted. Your role hereafter is to manage the relationship and not the services being provided. Generally, being experts in their field, service providers have the latest technologies suited to their field of operation. It will be in the interest of the hirer to upgrade their own systems to bring them at par with those of the 3PL provider, so that synergies are fully exploited.

• Integration: The client will have to ensure that all systems involved in the supply chain are fully integrated. Individual functions like procurement, manufacturing, finance and sales should be fully integrated with the 3PL provider. This alone will ensure that the larger corporate goals are met.

Selection of a competent and ‘best-of-breed’ 3PL provider is in important decision. The outsourcing decision is strategic in nature and must have the commitment of top management. A lot of responsibility weighs on the client to ensure that the relationship is well managed and delivers maximum value.

Third Party Logistics Companies or 3PL Companies provide services by setting up and running logistics operations for other operating companies. These services can be as simple as brokering and managing freight flows for the customer or as complex as setting up operation of company’s major warehouse or distribution center operations.

Setting Up a 3PL Company:

It is very important to determine the type of services you intend to provide and industry you want to specialize in. Survey and study the market for your services and key operational areas you are considering for business. Consider the investment, cost of initial set-up, finances and funds available, complexity of operating the business, running major distribution centers for retail clients, transport systems, trained manpower and other key areas of focus. Keep in mind different options and details before venturing into 3PL business.

Major companies are happy and satisfied with 3PL providers. Despite this, third party logistic relationships and outsourcing alliances fail quite frequently or suffer from cancellation of contract. To overcome this problem, keep a few aspects in mind to achieve success in implementing a 3PL project.

Successful Implementation of a Third Party Logistic Project:

Strategy:

Have an outsourcing strategy. Have a well thought of action plan about outsourcing and outcomes against in house capabilities and availabilities. A SWOT analysis will help tremendously to understand the strengths, weaknesses, opportunities and threats of outsourcing logistics versus in-house solutions.

Comprehensive Study:

This helps you in clearly documenting the advantages, challenges and cost benefits of outsourcing.

Documentation:

Develop standard operating procedures for all processes to be outsourced, so that there are no procedural gaps in understanding and client expectations. Document points of agreement or disagreement clearly.

Scientific Selection:

Shortlist eligible service providers and other 3PL companies need to understand their working vis-à-vis your business. Document clearly show their expectations and terms inclusive of current costs to avoid later confusions for smooth functioning of your company.

Targets:

Define clear performance standards. This will assist you to measure performance and identify area for corrective actions.

Use a Request for Information (RFI):

This tool will not only help gather information but also show up the strengths and weaknesses of other parties. Beware of over commitments of service providers. Have realistic expectations.

Many small businesses prefer to lease equipment rather than buy them. Banks have also recognized this trend have started giving leasing loans to small businesses.

So what are the things you should look for while leasing equipment for your small business? The section below describes some important points to keep in mind.

Advantage of Leasing Equipment:

Leasing equipment has many advantages over buying them. Here are a few of them:

1) If there is a chance that the equipment you bought becomes outdated, then leasing is a better option than buying.

2) If the equipment is needed for a temporary project, then buying it is a waste of resources. If your business is “seasonal,” then leasing equipment for a short period is a good idea.

3) Sometimes, buying equipment does not bring any tax advantages, so leasing may be a better option.

4) If you do not have the funds to buy equipment, you can lease it. This will also save you from taking loans to buy equipment.

5) Leasing has been seen as a better option during economic crises, as it prevents insolvency of the business, and keeps the cash flow going.

Disadvantages of Leasing Equipment: While leasing equipments, you must also keep in mind some of the disadvantages of leasing vis-à-vis buying.

1) If the economy is sound and inflation rates are low, then buying equipment offers tax advantages that leasing does not.

2) If you buy a piece of equipment and its value appreciates, then you can sell it at a profit. With leased equipment, making such profit is not possible.

3) If you own a small business, then it is crucial for you to find a replacement for the equipment once the lease period is over. If the leasing company refuses to renew its contract, or hikes its fees, then your business may run into trouble.

While leasing equipment, you can either take the help of a bank or approach a leasing company. The next two sections will look at both kinds of lessors.

Leasing Equipment from Banks:

Banks have more financial resources; therefore, they can help you lease equipment on lower interest rates. The disadvantage of leasing equipment from banks is that banks look at your credit history before leasing any equipment. If your credit history is not perfect, or you need to take loans in order to lease from the bank, then it might weaken your case.

In addition, one the lease period is over, or the equipment is no longer needed, you will need to lease it out, or resell it at a loss.

If you are a small business owner, it might be better for you to lease equipment from a leasing company. The amount you pay for leasing from a company is less than the interest rate and lease amount you will pay a bank. At the end of the lease period, the leasing company will take back its equipment, so you don’t have to bother about reselling or storage.

With many options for leasing equipment for your small business available, you might have difficulty selecting the right one. You can consult a small business consultant who will help you out. Leasing equipment is a good option for those who are starting a small business, need the equipment on a temporary basis, or do not have the funds to buy them.

The majority of us will, at some stage, have to take a decision on how to achieve the financial goals we set for ourselves. With rising disposable incomes, there are various options for selecting the best avenues for investment. While there is always the lure of making windfall gains, there also abound stories of investment decisions having gone awry and investors losing all their capital and some more. There are some dos’ and don’ts that you should remember as you go about making investments from your hard earned income.

General Guidelines:

• Have a Plan: Set realistic goals before you even set out to invest your first dollar. The plan will depend on factors like your income, age, risk appetite and expected return on investments. The higher the risk, the higher the return on the investment. Obviously, you would not like to put all your capital in high-risk investments. A balanced allocation of funds across all available asset classes will best serve your interests. This plan should be your guide for investments in the future.

• Delay: Once the plan is in place, try not to delay the investment process while forever waiting for better opportunities to emerge.

• Employer’s Matching Contributions: Employers generally have matching contributions towards some plans. Make it a point not to pass these up as they enhance the value of your contribution substantially.

• Professional Fees: An increase in investment opportunities and disposable income has spawned an entire breed of professionals who make a career of managing your funds. While the really busy people may not have the time to manage their investments, most of us do have the skills and time to manage without professionals. This amounts to saving a tidy sum in professional fees.

Investing in Stocks:

The guidelines given above are valid for investments in the stock market also. There are some additional pitfalls that should be avoided before taking a plunge into the markets.

• The proliferation of broadband Internet access and the cutthroat competition amongst on-line broking firms has substantially lowered the transaction costs associated with share transactions. This tempts you to invest in stocks with a short-term horizon and high churn rate. There is no substitute for long-term investing backed by solid research. Avoid investing on the basis of tips.

• Invest only in sectors and stocks you understand fully. There are always ‘hot’ sectors and stocks that are always in fashion. Many investors have lost their shirts while trying to make quick gains by chasing these stocks. Have a diversified portfolio, but avoid over-diversification.

• It may not always be prudent to invest in a stock just because its price has dropped substantially and it looks very cheap. There are always good reasons for the fall in stock price and there is no guarantee that it will not fall any further.

• Knowledge of technical analysis will help you to make an entry at the right time and save money.

• Leverage or buying stocks on the margin can lead to substantial losses, if your calculations go awry. Avoid investing with borrowed funds.

Every business has its life cycle that it undergoes during the course of its entire existence. It is widely accepted that businesses across the world experience four principal stages of existence – Start-up Phase, Growth Phase, Maturity Phase and Decline Phase. Invariably, all businesses undergo these phases.

Start-up Phase:

Start-up phase is that phase during which a business comes into existence. It is during this phase that plans are conceptualized and implemented regarding how the business should be set up, how it should be run, where to get the start up capital from and how to keep the cash flow going. During the start up phase, legalities of setting up the business are taken care of. Every business, which is starting up will normally require a large investment of capital, lots of time and effort, setting up of good profitable and stable customer base, money to buy raw materials, manpower recruitment etc. Businesses usually arrange for their own limited resources to run their activities. At first, demand is assessed and/or created for the products or services the business wishes to offer. Then manufacturing facility and processes are established (if it is a business engaged in manufacturing) or processes for providing service are established (if the business will be service provider) or goods for sale are purchased (if it will be business engaged in trade).

Growth Phase:

During this phase of its existence, businesses experience expansion of its activities and enhancement of its customer base. It is an exciting period for the business. Its products and services are gaining acceptance in the marketplace and customers are patronizing them in increasing numbers. Profit margins also tend to increase during this phase. During this phase, the business require infusion of additional capital to buy capital equipment to increase production (for manufacturing businesses), to establish additional service network (for service providers) or procure more goods for trade (for trading businesses).

Maturity Phase:

This is the third stage of a business development. During this phase cash flows stabilize and establishment of marketing networks and operational channels are completed. The respective brands become well known and there is a stable and faithful customer following. This is an ideal time for businesses to consider expansion or diversification.

Once you have had your business up and running for sometime, you will definitely have gotten the expertise to run it. During the time that business has been running, you would have done many things to keep the business in operation. You must have answered phones, hired manpower, and marketed your products or services; in short, you now know your business inside and out. Business operations that are beyond your time and capabilities, you now have employees to handle.

Professional Assistance:

There are many business processes and operations that you can manage through hiring trained, knowledgeable and qualified employees. However, there are some operations, which are best left of the experts in the respective field to handle. Some of these exceptions are matters concerning law and government legalities, accounting and auditing, management of labor and marketing. These are specialized fields and people who are experts in them are normally not employees of any companies but are consultants. Most consultants are not employees but there are consultancy firms that have consultants as their employees. Either way, it is generally an accepted practice to engage such consultants for professional help.

Getting access to professional help from consultants in fields such as government legalities, specialized accounting and auditing, marketing and human resource will help the growth of your business in a way that will be sustainable. This is one way to make your business grow rapidly and efficiently. Consultants are a big help for businesses who wish to make their business operations function in an optimized way. It is also a good way to increase their customer base and do product or service innovations. Skills available with these professionals are crucial for businesses to be sustainable. That is the principal reason that professional consultancy business is doing well and thriving.

Hiring Consultants:

Hiring consultants is a different ball game than hiring employees. It is also very different than going in for outsourcing of services. Getting professional help is expensive since consultancy charges are quite high. For most consultancy jobs, the cost can range from a few hundred dollars a day to many thousands of dollars a day. Because of these high costs of consultancy, many people thing that consultancy is not worth the cost. However, this is not true. Going for professional consultancy does pay – both in the short term and in long term.

Besides engaging professional help for carrying out highly specialized tasks for your business, you should also consider using computer software geared for business processes to help your business processes. Many companies offer customized computer software solutions for existing and upcoming businesses. You will do well to take their help in optimizing your business operations and make them competitive.

Commodity broking is big business in New Orleans. You need to choose what kind of commodities you will specialize in, and what kind of commodities you will trade in. You also need to follow all local licensing laws, and rules and regulations related to trading.

Starting Commodities Brokerage Business:

Here are some things to consider when starting a commodities brokerage business in New Orleans.

1. Type: You need to choose whether you will deal in future commissions or introductory arrangements. Future commission brokers take orders for buying or selling futures in return for a fee from the customers. A clearing future commission brokerage has large capital deposits. Non-clearing brokerage in turn deals with clearing brokerage on behalf of customers. An introducing broker delegates operations work to a Futures brokerage.

2. Clean History: Your business background is the first thing customers will check when they scout for a Commodities Brokerage business. You should always put the clients’ interests first.

3. Commissions: You need to decide on the commission you will charge. Commissions determine the profits you make, so you should keep an appropriate margin when deciding on them. You should know how the market works, and charge appropriately, rather than put up the lowest price to attract clients. Commission rates vary from $15 to around $40. In any case, your charge should not be more than $85.

Starting Commodities Brokerage in New Orleans: Services;

You can provide the following services as a Commodities Brokerage in New Orleans.

• Discount Brokerage: The discount Commodities Brokerage lets clients be in charge. You simply need to take orders and trade on their behalf.

• Full Service Commodities Brokerage: This kind of Commodities Brokerage deals in future trading and shares. It is ideal for first time investors, as you do all the research for them, and choose which kind of investment will be best for your client. You then take orders from them and invest accordingly.

Starting Commodities Brokerage Business: Characteristics of a Good Broker;

These are the characteristics of a good broker.

• They know the market dynamics.

• They keep the client clued in on the market.

• They can network within the marketplace and get to information not generally available.

• Good Commodities Brokerages allow clients to trade according to their wishes, instead of forcing their own opinions on them.

By allowing clients to make informed decisions, you will earn a good reputation for your Commodities Brokerage business. Always follow ethical trading practices since any hint of wrongdoing can lose you clients. If you want to know more about Commodities Brokerage business in New Orleans, and how to start a Commodities Brokerage firm, you should consult a business advisor.