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A Message From YourBrok . . . er . . . Financial Advisor By Cliff Ennico www.creators.com Hi, all.nbsp; I just returned from an investment conference where forfour days from 9 AM to 3PM (when I usually manage your accounts), Ilistened to numerous industry experts, economists, strategists, moneymanagers and analysts from our company, its affiliated investmentfunds, and a couple of "screamers" from CNN, who discussed the currenteconomic environment.nbsp; Even though these were the same people wholoaded us up with mortgage-backed securities and forced us to be soldoff to The First National Bank of Southern North Carolina earlier thisyear, we have every reason to believe these are the right people tohelp us through some challenging times, especially now that they're nolonger worried about their jobs and can focus 100% on the task ofrebuilding our company with your money. The consensus was the same:nbsp; no one had expected or experienced atime such as what we are now going through.nbsp; As for how long itwill last, the experts were also in agreement:nbsp; "sure beats theHeck out of us".nbsp; Having gotten that out of the way, the paneliststhen told us (and you) what you should do in these difficult times. In his opening address (titled "Oopsie!nbsp; Didn't See That OneComing"), our president O. Leo Leahy said:nbsp; "I know a lot ofpeople say that we're stockbrokers, and that the primary duty of astockbroker is to get their clients into the market when it's down, andget them out of the market when it's up.nbsp; Which means that you allshould have put your client's funds 100% in cash in the first quarterof 2008.nbsp; But we are NOT stockbrokers.nbsp; We leave thatbusiness to the 'day traders' and that's what you need to tell yourclients right now.nbsp; What we are . . . are . . . FINANCIALADVISORS, which means we are bound by the higher laws of finance tofocus on the longer term, no matter how much the World may be crashingaround our ears today!" Virtually all experts felt that the markets bottomed on October 10thand that we are going through a "retesting" of that bottom.nbsp;"You've seen bottoms before," said Leahy, "and you're looking at onenow.nbsp; We may see several more bottoms before we see the realbottom.nbsp; But let me assure you, ladies and gentlemen, that whenthe Dow Jones Industrial Average hits zero, we are absolutely certainthat will be the last bottom, and the market will have nowhere to gobut up!" The experts also were optimistic about the nation's politicalfuture.nbsp; "Now that the 2008 election is over, the 2012Presidential race is under way, and it becomes ever more likely we willbe a one party state within the next few years," said Leahy, "we willNEVER, EVER AGAIN be plagued by market-disrupting election yearuncertainties, and will be able to focus our full attention on growingassets for our Government to take over. That way, the Chinese will besure to buy our assets in 20 years and 'the World will be as one'." So what does an investor do now?nbsp; The experts were unanimous thatwhat you should do now is to "stay the course" and keep putting whatlittle money you have into the stock market.nbsp; They gave fourreasons for this: any roller coaster rider knows the ride down is a lot morethrilling than the ride up; you will make it easier for the "day traders" to get THEIR moneyout before the market tanks; the market is bound to go up again someday, and you will recoupyour losses (assuming, of course, you have some cash to buy stocks withand can handle a 50% capital gains tax); and hey, if you put everything in cash there won't be anything for usto do, and nothing for the experts to talk about. You should also remember if your account balance falls below ourinvestment "minimum" we will have to terminate our relationship and youwill be on your own. Look at it this way: if you put money into the stock market in October1930, the depths of the last big "R", and kept it invested untilOctober 2008, you would have DOUBLED your money and would be able toretire at the still young age of 112!nbsp; We have every confidenceyou will be able to do the same in this market. So have a good week and please try not to listen to the financialentertainment networks, your barber, your manicurist or yourdoorman!nbsp; Whom would you rather believe . . . them, orprofessionals like us? One more thing:nbsp; we are pleased to announce a new investmentproduct from The First National Bank of Southern North Carolina.nbsp;It's called a "Christmas Chanukah Kwanzaa Saturnalia Club".nbsp; Youopen an account on January 1, put in One Dollar every week, and whenthe holidays roll around you have . . . not Fifty-Two Dollars but . . .(wait for it) . . . FIFTY-THREE DOLLARS to spend on holiday cheer,thanks to the miracle of compound interest! Please make an appointment with me to discuss this exciting new productat your convenience.nbsp; I'll be at Teller Cage # 3. Cliff Ennico ( cennico@legalcareer.com )is a syndicated columnist, author and former host of the PBS televisionseries 'Money Hunt'. This column is no substitute for legal, tax orfinancial advice, which can be furnished only by a qualifiedprofessional licensed in your state. To find out more about CliffEnnico and other Creators Syndicate writers and cartoonists, visit ourWeb page at www.creators.com .COPYRIGHT 2008 CLIFFORD R. ENNICO. DISTRIBUTED BY CREATORS SYNDICATE,INC. Permission granted for use on DrLaura.com. More >>

The Changing World OfeBay By Cliff Ennico www.creators.com "I do a lot of public speaking to promote my small business. Most of myspeaking is for local organizations; I don't charge them a fee, andthere's no contract involved. But lately I've been contacted by someevent planners to speak at trade shows around the country, and theircontracts are several pages long! What are some of the things I shouldbe looking for in these contracts? Do I need an attorney to look ateach of these when I receive them?" It's no secret.nbsp; It's getting harder and harder to build asuccessful eBay selling business.nbsp; Not only is the competitiongreater than ever before (between 700,000 and 800,000 sellers in theUnited States alone), but eBay itself is making it tougher for sellersto succeed by "raising the bar" for people it will allow to sell on thesite. To understand the changes that have rocked the eBay community in recentyears, it helps to understand the fundamental difference between"amateur" and "professional" retailers. When eBay was first launched in the mid-1990s, it developed areputation (rightly or wrongly), as "the world's flea market".nbsp;Anyone with twenty-five cents to spend and a few spare hours to createan eBay auction listing could sell anything on eBay to anyone in theworld.nbsp; They did not have to be a "regular vendor": they did nothave to follow rules of business etiquette, they did not have to keepcareful books and records, they did not have to be disciplined abouthow they conducted their businesses or how they interacted withcustomers.nbsp; That was the great charm of eBay in the "good old days" of the late1990s.nbsp; It was more than just "online commerce".nbsp; It was acommunity of buyers and sellers interacting with each other on thesite, and you never knew what would happen when you bid on somethingfor sale there.nbsp; You might make a friend for life.nbsp; You mightmeet a world authority on a certain type of antique orcollectible.nbsp; You might even meet your future spouse or lifepartner on eBay. Often you were buying from people who knew less about their merchandisethan you did, and you picked up some amazing bargains that way because"these people on eBay don't know what they've got". But eBay's charm was also its greatest handicap.nbsp; Many times whenbidding on eBay you found yourself dealing with the seller from Hell -somebody who was trying to pass off fake antiques as genuine, somebodywho was ripping you off on shipping and handling fees, somebody whoshipped you an article different than the one you ordered (and wouldn'tgive you your money back), or somebody whose sole goal in life was tosteal your personal identity online. eBay, in short, developed a reputation as the "Wild West" of onlinecommerce - a place where anything could happen, and often did. In recent years, eBay has taken some dramatic steps to move away fromits "Wild West" image and become more respectable as an online commercevenue for serious sellers and buyers - steps that, in some cases, havealienated large sectors of their selling community.nbsp; Among some ofthe more recent changes: the development of DetailedSeller Ratings (or DSRs) that enable buyersto rate sellers on a variety of different aspects of the saleexperience (for example, shipping speed, quality of merchandise,communications) rather than an "overall" rating; eliminating sellers' ability to leave "negative feedback" onbuyers,while allowing buyers greater leverage to leave "negative feedback" onsellers; requiring eBay sellers to use an "online payment system" such asPayPalfor all transactions, and prohibiting them from accepting checks, moneyorders and other paper-based forms of payment; and eliminating certain benefits (such as eBay's coveted"PowerSeller"status) for sellers whose DSRs fall below certain percentage levels. Many sellers complain that, because of these changes, "eBay isn't asmuch fun as it used to be," and numerous newspaper and magazinearticles and online "blogs" have accused eBay of trying to eliminate"Mom and Pop" sellers from the site in favor of large corporateretailers. But the truth, as always, is a bit more complex than that.nbsp; eBayhas, and probably always will, welcome the small "Mom and Pop" retaileron the site, especially in the "antiques and collectibles" andused/secondhand merchandise categories where eBay still reigns supremein the e-commerce world.nbsp; Because the site is so easy to use, andbecause of the extensive support sellers receive on the site, eBay willprobably for some time continue to be the first place small businessesgo to "cut their teeth" when venturing into e-commerce. What will clearly no longer be tolerated on eBay, however, are"amateur" sellers - people who don't run their businesses in aprofessional, customer-friendly and, well, "businesslike" manner. You can be small and thrive on eBay, but from now on, you gotta be good. Cliff Ennico ( cennico@legalcareer.com )is a syndicated columnist, author and former host of the PBS televisionseries 'Money Hunt'. This column is no substitute for legal, tax orfinancial advice, which can be furnished only by a qualifiedprofessional licensed in your state. To find out more about CliffEnnico and other Creators Syndicate writers and cartoonists, visit ourWeb page at www.creators.com .COPYRIGHT 2008 CLIFFORD R. ENNICO. DISTRIBUTED BY CREATORS SYNDICATE,INC. Permission granted for use on DrLaura.com. More >>

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Some Legal and Tax Tips For Professional Speakers By Cliff Ennico www.creators.com "I do a lot of public speaking to promote my small business. Most of my speaking is for local organizations; I don't charge them a fee, and there's no contract involved. But lately I've been contacted by some event planners to speak at trade shows around the country, and their contracts are several pages long! What are some of the things I should be looking for in these contracts? Do I need an attorney to look at each of these when I receive them?" Generally, when I look at speaking contracts, I focus on three basic questions: "How and When Do I Get Paid?" Speaking contracts are usually clear about the amount you will be paid for speaking, but you would be amazed how many contracts are "fuzzy" about when payment is due. Most event planners will want you to submit an invoice for fees and expenses after you speak, which is fine, but if there are significant expenses involved - such as cross-country air travel - you might want to ask to have those expenses reimbursed before you board the plane. Watch out for language saying the event planner will pay you if they or their client are "satisfied with" or "have accepted" your work - that can be awfully subjective, and you don't want your payment held up on somebody's whim. "Who Owns My Presentation?" There should be only one answer to this question: YOU should own the copyright and all other rights to your PowerPoint slides, handouts and other materials you give to attendees, and any other content you create for the event. Many speakers' contracts require you to assign your copyright to the event planner, and you should resist these provisions as much as possible. Once someone owns your copyright, they can do whatever they want with your presentation, you get nothing for it, and you can't use that same presentation anywhere else. Consider instead giving the event planner a "nonexclusive, perpetual, royalty free" license to use your content only for certain specified purposes - such as posting the content for a limited time on the event's Website. "Am I Restricted From Speaking for Someone Else?" Never, ever sign a noncompete agreement for a speaking event. No event planner has the right to prohibit you from speaking for other organizations or clients. If they protest, tell them you won't agree to a noncompete unless the planner agrees to give you a minimum volume of speaking business each year while the noncompete clause is in effect. It's a good idea to have an attorney review your first couple of speaking contracts. I would recommend you meet with the attorney and have her "educate" you on the things you need to look for to avoid getting into legal trouble with the event planners. After that, you can probably review these yourself, keeping your attorney on "speed dial" if a particular contract has language you haven't seen before. "I am a corporate training professional who conducts programs at hotels and convention centers in my state two or three times a year. While I can limit myself to my home state, a future goal is to offer training in other locations across the country, and I understand I may be subject to income and sales taxes in other states if I conduct programs there. What's the best way to learn about the tax rules in each state where I may wish to conduct training?" When you conduct training classes in another state, especially if the classes last for more than one day each and/or you conduct several classes in the state each year, you may have "nexus" with that state for tax purposes. This means you are responsible for paying income or sales taxes to the tax authority in each state where you conduct training programs. To find out a state's "nexus" rules, find the state tax authority's Website - you can search online for "[name of state] revenue department", or go to www.taxsites.com/state.html for a nationwide directory of state tax Websites. Once you get to the state tax authority's Website, search for the "nexus information" page. There almost always will be one. Each year, the Bureau of National Affairs in Washington, D.C. conducts a survey of state tax departments about their "nexus" rules and publishes the survey in book form -- for a current copy of this survey, call BNA at (800) 372 1033 and ask for Item STSV01. But be forewarned: it will set you back $185. As a last resort, you can always call the state's tax department, ask to speak to a Revenue Examiner, and ask them flat out if your proposed activities within the state will subject you to income or sales taxes. The good news is that they're usually fairly friendly, and will tell you exactly what to do. The bad news is that they will almost always find you have "nexus" in the state and will have to pay taxes. Cliff Ennico ( cennico@legalcareer.com )is a syndicated columnist, author and former host of the PBS televisionseries 'Money Hunt'. This column is no substitute for legal, tax orfinancial advice, which can be furnished only by a qualifiedprofessional licensed in your state. To find out more about CliffEnnico and other Creators Syndicate writers and cartoonists, visit ourWeb page at www.creators.com .COPYRIGHT 2008 CLIFFORD R. ENNICO. DISTRIBUTED BY CREATORS SYNDICATE,INC. Permission granted for use on DrLaura.com. More >>

Growing Your Business In Challenging Times By Cliff Ennico www.creators.com "I have a small service business. I was doing okay until recently, but in the past several months a lot of my business has dried up and I#146;m struggling to stay afloat. Do you have any tips on how to run a service business in difficult times?" When you run your own business, there's never anything BUT difficult times. The rules of good management apply no matter what the economy's doing at a particular moment. Having said that, though, recent events in the financial world have shaken a lot of people#146;s confidence, so it's a good idea to review the basics. "Talk to Me, So You Can See, What's Going On . . . " With apologies to the late Marvin Gaye, a sudden drop in business usually means you have a marketing problem. Your customers have had a change of heart about you and what you're doing, and you've got to find out what's happening. Sitting around the office thinking about the problem won't solve it. You've got to get out into the marketplace and start talking to your customers. Ask them point blank why they're no longer calling. Is it something you're doing or not doing for them? Are their needs changing? Is there a new competitor in town who#146;s offering them better prices, better service, or a more convenient location? Frankly, you should be doing this ALL the time, but especially now you need to worship your customers. Offer them a little something for participating in a telephone survey and they'll probably give you an earful. Oh, and if they're telling you they want something new and different from your business, say "yes" and start offering it . . . whatever it may be. "Is There Anybody Alive Out There?" With apologies to Bruce Springsteen, changing times create new marketing opportunities as well as threats. For each customer who's drifting away from you, there are others who are being abandoned by other service providers. Take a good, long look at your community #150; what's NOT being done that people are willing to pay good money for? If two or more customers ask for Service X and you are offering only Services Y and Z, maybe Service X needs to be added to the mix. Chances are, a lot more people are looking for Service X, and it's good to be the only one in town (or in your industry) doing it. Maximize Revenue, Minimize Cost. These are the two cardinal rules of growing a business in tough times (or indeed, any other time). Here are the key questions you should be asking: Are your prices high enough? Since your customer base is declining, you will have to squeeze more cash out of fewer customers. Your gut instinct is to cut prices in difficult times, but if inflation is pushing everybody's costs higher, now may be an excellent time to actually RAISE your prices because people are more resigned to it. Are there other complementary products or services you can sell your regular customers? If you are a rare coin dealer, you should not be selling just the coins themselves but also the supplies that coin collectors need. Are there new markets or uses for your products and services? Consider selling internationally via the Web #150; there may be huge markets in Brazil for stuff you can't give away in the United States. Perhaps you can reach out to an ethnic group in town that's not being adequately served by your business (three little words that will dramatically expand your service business #150; "se habla espanol"). Perhaps there are new uses for your products that people aren't aware of. In good times, a bicycle is a fun way to exercise. In tough times, it might be a primary means of transportation. Are you spending too much money on anything? In tough times you have to be downright ruthless about cutting expenses and living on "a drop of water". Do you really need a second employee working on Saturdays? Can you get another year out of your old truck? Most of us don't spend wildly on high-priced items, but the little expenses -- $10 here, $20 there #150; really add up. Cut your spending by even $20 each day, and you will save $140 each week, and $7,280 each year. At all times, there are two steps to success in any service business: (1)Find a dirty job that has to get done but that no one likes to do; and (2)Charge a premium price for doing it. People will always pay good money to have work done if they are too nervous, time-starved or nauseated to do it themselves. In tough times people are more motivated to do mildly objectionable things themselves, but they will still outsource the really scary, distasteful jobs. Be prepared #150; and willing #150; to tackle some of the really nasty stuff people want done, especially if your competitors are too squeamish to do it. You won't love it, you might not smell too great, but you will survive. Cliff Ennico ( cennico@legalcareer.com ) is a syndicated columnist, author and former host of the PBS television series 'Money Hunt'. This column is no substitute for legal, tax or financial advice, which can be furnished only by a qualified professional licensed in your state. To find out more about Cliff Ennico and other Creators Syndicate writers and cartoonists, visit our Web page at www.creators.com . COPYRIGHT 2008 CLIFFORD R. ENNICO. DISTRIBUTED BY CREATORS SYNDICATE, INC. Permission granted for use on DrLaura.com. More >>

All You Need Is...(It Ain't Love) By Cliff Ennico www.creators.com "Cliff, we love your column, and we would love to hear your reaction to the Wall Street shenanigans of the past several weeks. Do you have any special wisdom on how small businesses can survive the coming, almost certain, financial storm?" This is a column of practical advice for business owners, and I generally try to avoid political and "macroeconomic" topics. It's not that I'm squeamish, or afraid to take a stand on an issue #150; I actually have very strong opinions about what#146;s happening in the business and financial world right now. It's just that this column is not the place for them. There are many, many places - both online and off -- where you can get information and opinion on this topic, and I doubt I would have much to add to the thousands of pundits, commentators, and "citizen journalists" who are weighing in with their opinions. Having said that . . . I do strongly believe there is one thing business owners need to have in order to survive in these unsettled times #150; something that has been sadly lacking in the business world the past few decades. What is that something? It's not cash. And it#146;s not love or passion for what you do. It's discipline. Discipline and self-restraint, pure and simple. The ability to say "no" to a deal that doesn't make sense when everybody else is saying "yes". The ability to set standards for who you will do business with (and who you won't) and sticking to them. The ability to set a budget for yourself and stay within it, even if it means making sacrifices (remember when people actually made personal sacrifices for things?) in other areas of your life. The last 50 or so years have been a great time to be alive in America. Three whole generations of Americans have grown up thinking that nothing bad ever happens here. Wars happen, but they're always on the other side of the world #150; just wave a few protest signs in the air and even those go away. Recessions happen, but they're short and shallow and the economy always bounces back quickly. Poverty and starvation happen, but only to people in developing countries. Ten years ago someone actually wrote a book called "The End of History", arguing that historical cycles of good and bad economic times are gone for good (or can be easily managed) due to our technological brilliance and intellectual flexibility. In a word, "oopsie". Just as Wendell Phillips once said "eternal vigilance is the price of liberty", eternal discipline is the price of a free market economy. Just because the law permits you to do something doesn#146;t mean it's the right thing to do, or that you should do it #150; even if "everybody else is doing it". Your parents didn't buy that argument when you were a teenager, and neither should you when running your business. Thinking about bad times when times are good is very difficult to do #150; it's a little bit like negotiating the divorce terms right after someone has accepted your proposal of marriage #150; but it has to be done. If you wait until the bad times to discipline yourself, you may not have to time to correct the problems and weaknesses that expose you to disaster. Back around 400 B.C. a Greek guy named Aesop wrote a short story about that. It's called "The Ant and the Grasshopper". You probably haven't read it since childhood. Go back and read it now. It's the best business advice you will ever get about surviving tough times. Once you have discipline, there are two things you DON'T need. Fear. In similar times, a famous U.S. President once said "we have nothing to fear but fear itself." He was right. When you panic, you do and say things you (and society) live to regret later. Action is the surest cure for fear. Stop worrying. Look for threats, and take action to avoid them. Look for opportunities, and take action to exploit them. Anger. As Shakespeare said, "what's done is done; it cannot be undone." The time for anger was years ago. Being angry now is a waste of your precious time. Also, when you are angry, you do and say things you (and society) live to regret later. We are all upset about what's happened on Wall Street. We look for someone to blame. But as Shakespeare (again) said, "the fault, dear Brutus, lies not with our stars, but with ourselves." We are all responsible for the current mess. Every last one of us. Either we were living beyond our means, or we failed to insist loudly enough that the spending-and-lending habits of those who were be curtailed. If you must be angry, be angry with yourself #150; look closely at the things you did, or did not do, that contributed even in a small way to the credit crunch. And make a vow to yourself, and to whatever God you worship, that they will never happen again. Cliff Ennico ( cennico@legalcareer.com ) is a syndicated columnist, author and former host of the PBS television series 'Money Hunt'. This column is no substitute for legal, tax or financial advice, which can be furnished only by a qualified professional licensed in your state. To find out more about Cliff Ennico and other Creators Syndicate writers and cartoonists, visit our Web page at www.creators.com . COPYRIGHT 2008 CLIFFORD R. ENNICO. DISTRIBUTED BY CREATORS SYNDICATE, INC. Permission granted for use on DrLaura.com. More >>

They Were Networking, But What Were They Thinking? By Cliff Ennico www.creators.com For the past several months I have been speaking on small business legal, tax and marketing issues at business conferences and trade shows around the country. While I would be flattered to think that attendees flock to these programs for the privilege of touching the hem of my garment, I realize that their mission is primarily . . . to network with each other. Entire books have been written about networking techniques, but it basically boils down to this. You show up someplace with 100 of your business cards. As soon as the speaker stops speaking you hand out your cards to everyone in sight. They, in turn, give you their cards. You go back home and count your cards, using the following scorecard: 50 points for the speaker's card; 25 points for a local politician's or dignitary's card; 5 points for another attendee's card if there's a chance they might become a customer; 1 point for another attendee's card if there isn't; and Subtract 5 points for every competitor's card. The player who dies with the most cards wins. Now, when people try to get my card at these events, I don't mind playing the game. But the way a lot of people go about it makes me wonder what sort of idiots are out there teaching these people networking skills. Here are some examples of how NOT to network with the speaker at a business event: What Networker #1 Said: "Good talk, Cliff. Listen, I run a housecleaning service here in City X. Here's my card. If you know of anyone who needs their house cleaned, have them call me." What Networker #1 (Probably) Was Thinking: "This is a really important guy. If he says I'm great, people will listen to him, and I will get business." What I Was Thinking: "He forgot to read my biography. I live on the opposite coast from City X. I don't know a soul here. Even if I did, am I going to tell them about this great housecleaner I met at a local business event that they should use because their house is really filthy?" What Networker #2 Said: "This was the most amazing talk I've ever heard in my life. Wow, you really got to me in a way that no other speaker ever has. Do you think you can spare me some advice about how I can achieve a better search engine ranking on the Internet?" What Networker #2 (Probably) Was Thinking: "You can't go wrong with flattery #150; these speakers all have big egos, so it's best to lay it on thick." What I Was Thinking: "What a brown-noser! I'm surprised he didn't succeed in corporate America. And he didn't even listen to my talk #150; I spent over half an hour talking about search engine marketing! He must have been out in the hallway checking his VoiceMail messages when I was covering that. I'm not repeating my whole program for this guy #150; let him buy one of my books." What Networker #3 Said: "The talk today was very interesting, but frankly it was way too long. The information is interesting, but what we really want to do here is network with each other. So when you do the next program could you make the speaker less of a focus?" What Networker #3 (Probably) Was Thinking: "I gave this program an entire morning of my life, and they gave us only 15 minutes to network. Good thing I had my laptop computer with me; at least I got some work done." What I Was Thinking: "Okay, he's candid, but he doesn't realize he's talking to the SPEAKER. He thinks I'm the event organizer. It's bad enough people don't listen, but when they don't even look to SEE who's talking . . . I really hate this person. I hope he fails. No, I hope he drops dead." Now, for an example of the RIGHT WAY to network with a speaker: What Networker #4 Said: "Mr. Ennico, I absolutely LOVED your talk. Listen, I'm the speaking coordinator for an organization of entrepreneurs here in City Y. We would love to have you speak for us, as I really would like our members to hear your message. We can't afford much money, but we can pay your expenses and will give you every possible chance to sell your books after your talk. Would you consider doing that?" What Networker #4 Was (Probably) Thinking: "Look, what this guy wants is probably more speaking gigs. Let me offer him a good opportunity, with the chance to make some money, and once he's said 'yes' he'll owe me a favor so then I can ask him the question I REALLY want to ask." What I Was Thinking: "This person gets it. When you're networking, it's not about what you want, but what the other person wants. What I want . . . is this person's card." Cliff Ennico ( cennico@legalcareer.com ) is a syndicated columnist, author and former host of the PBS television series 'Money Hunt'. This column is no substitute for legal, tax or financial advice, which can be furnished only by a qualified professional licensed in your state. To find out more about Cliff Ennico and other Creators Syndicate writers and cartoonists, visit our Web page at www.creators.com . COPYRIGHT 2008 CLIFFORD R. ENNICO. DISTRIBUTED BY CREATORS SYNDICATE, INC. Permission granted for use on DrLaura.com. More >>

How To Sell Anything To Anybody... In Three Easy Steps By Cliff Ennico www.creators.com "I've been running a business the past couple of years. I do okay with it, but I know what my biggest problem is, and it's me. I just can't sell. I can't look somebody straight in the eye and tell them he needs something when I know he doesn't. I was taught as a kid not to be pushy, and it's hard to let go of that. Do you have any suggestions on how I can sell without lying, being unethical, or feeling sleazy about it?" Over the last three decades of my life I have worked with 15,000 to 20,000 business owners around the country. When you work with that many, you see patterns -in the ones that make it, and in the ones that crash and burn. Let me tell you something: all of the successful business owners I've worked with - every last man and woman - are good salespeople. Being able to market and sell your products and services is the key - and I mean THE key - to success when you run your own business. If you do not know how to sell, if you do not feel comfortable selling - you will fail. It's that simple. Here is a proven, time tested, three-step method by which you can sell just about anything to just about anyone and feel good about yourself afterwards. Step # 1: Get Your Customer Talking. The biggest mistake salespeople make is to start talking about what they've got before the customer has told them what they're looking for. That's not selling, that's "cold calling" - it's a waste of your time, it's an insult to your customer, and yes, it IS sleazy. When beginning a salespitch, don't talk. Ask questions. Get the customer talking. And not just about anything. Get him to talk about his "fears" and "passions": what keeps him awake at nights, and what gets him excited (or "turns him on"). Why? Because - dirty little secret - these are the only two reasons anyone buys anything: to reduce anxiety, or to get more out of life. Whenever we get together with family and friends, we spend most of our time talking about our fears and passions, and so do your customers. Your customer will not be offended or think you are "getting too personal" - they will be flattered, they will think you really care about them, they will like you. And they will buy from you. Step # 2: Focus on a Fear or Passion You Can Do Something About. We all have fears and passions, but we don't feel them all the time. Before I can sell you anything, I have to get you to feel - in the moment, right here and now - a fear or passion I can do something about. Steer the conversation with your customer towards a fear or passion you can help them with. Step # 3: Offer the Solution. Once you sense the customer is feeling a fear or passion you can do something about, NOW start talking - about how your products or services will reduce their fears or how exciting and great your stuff is. Paint a vivid word-portrait of how great/convenient/successful/worry-free their life would be if they only had your wonderful stuff Need an example? Here's a salespitch I use (when wearing my "lawyer" hat) to convince a client that he needs to form a corporation: "You know I've worked with a lot of entrepreneurs - more than 15,000 the last time I counted. If you're just like every one of them, you're probably worried about making a mistake in your business, getting sued, and losing not only your business assets but your house, your car, and your personal stuff as well. Am I right about that? Well, you can put up a 'wall' between your personal and business assets, so that if (Heaven forbid) you are ever sued, your business assets will still be at risk - that's why you still need insurance - but your personal assets will be safe from attack because they are on the other side of the wall. One of these 'wall' things is called a corporation. Would you like to hear more?" Would you ever in a million years say "no" to a salespitch like that? To be an effective salesperson, you have to believe - passionately - in your products or services. If you think your stuff isn't any good, you will never be able to convince them it is. The best salespeople I know have a sense of "mission" about what they do. They are truly convinced that they are doing you the world's biggest favor by telling you about it, and that you would be CRAZY not to listen. If you think selling is "sleazy", it's probably because you're selling the wrong stuff. Find stuff you really believe in, and convey that passion, that enthusiasm, with everyone you meet. You will become a great salesperson, and you won't even know you're doing it . . . Cliff Ennico ( cennico@legalcareer.com ) is a syndicated columnist, author and former host of the PBS television series 'Money Hunt'. This column is no substitute for legal, tax or financial advice, which can be furnished only by a qualified professional licensed in your state. To find out more about Cliff Ennico and other Creators Syndicate writers and cartoonists, visit our Web page at www.creators.com . COPYRIGHT 2008 CLIFFORD R. ENNICO. DISTRIBUTED BY CREATORS SYNDICATE, INC. Permission granted for use on DrLaura.com. More >>

Company? What Company? By Cliff Ennico www.creators.com "I've been in business with a friend for three years now. At least I thought I was in business with him. We set up a limited liability company (LLC) for this business three years ago and hired an attorney, who sent us a whole bunch of legal documents. We signed everything in the places he indicated, and kept them in a safe place. Our accountant has filed tax returns for the LLC each of the last three years. Now we're applying for a bank loan and the bank is telling us that the LLC was never formed, even though we showed him all our paperwork. Did our attorney commit malpractice?" In order to form an LLC, you are required to file a document (called "Articles of Organization" in most states) with your state Secretary of State's office. This document probably was included in the attorney's LLC package, and you signed it along with the rest. But either (a) the attorney neglected to tell you it had to be filed with the Secretary of State's office, or (b) more likely, you neglected to read the attorney's cover letter in which he instructed you to sign everything but then return the documents to him for processing. In situation (a), you might have a case for malpractice against this attorney. In situation (b), you clearly don't, although the attorney should have followed up with you by phone or e-mail to remind you to return the signed documents to him. What you need to do now is file the Articles of Organization with your state Secretary of State's office and seek a waiver of any penalties your state imposes for filing it three years late. The fact that you have been paying all state and local taxes for the past three years will help you a great deal, and they probably will be lenient. If your attorney did make a mistake here by not telling you the Articles needed to be filed, any penalties should come out of his pocket. "We are setting up a joint venture with another company for an Internet business. The other company is listed on its Website as a Delaware corporation, but our attorney says he can't find any information, either in Delaware or in our own state, to show that the other company is actually incorporated. Complicating the picture is the fact that this company will be outsourcing some of the Website development work to an affiliated company overseas. Are we dealing with a 'fly by night' operation here?" What this company clearly INTENDED to do was to set up a U.S. based corporation to act as a sales office for its overseas operations. This generally is a wise thing for foreign companies to do, as it limits their legal liability as well as their tax exposure here in the U.S. Delaware is a logical, and very popular, choice for this type of company. There are a number of possible explanations for your attorney's inability to find this company on Delaware's corporations database ( http://corp.delaware.gov/onlinestatus.shtml ). He may not have searched under the exactly correct name (these databases can be very sensitive #150; if, for example, the company name has the word "and" in it, and you type the ampersand ("") instead in the search dialog box, the name will show up as not being registered). The company may have used one of the many "form your own corporation in Delaware for just $50" web-based services to incorporate in Delaware and then not followed up on the paperwork. The company may have been incorporated in Delaware several years ago but then failed to file its annual "franchise tax" there (this is an annual tax for the privilege of incorporating a business) #150; if you fail to do this for a couple of years in a row, Delaware dissolves your corporation so it won#146;t show up on the corporations register. Clearly this company will need to speak to its own attorney to find out what happened here #150; your attorney can't help them as it would be a conflict of interest for him. What is more disturbing (at least to me) is that you can't find the company listed on your own state's corporations register. Whenever any corporation or LLC has a place of business in another state, it is required to pay taxes in that state and register with that state#146;s Secretary of State's office as a "foreign" corporation or LLC. Clearly this company hasn't done that, and could be exposed to significant legal penalties and fines for failing to do so (see my answer to the previous question). The mere fact that it is entering into a joint venture with your company may well give it a legal "nexus" in your state, and if it hasn't already registered there, it will need to do so now. You should insist that this be done before you sign the joint venture agreement. Cliff Ennico ( cennico@legalcareer.com )is a syndicated columnist, author and former host of the PBS television series 'Money Hunt'. This column is no substitute for legal, tax or financial advice, which can be furnished only by a qualified professional licensed in your state. To find out more about Cliff Ennico and other Creators Syndicate writers and cartoonists, visit ourWeb page at www.creators.com . COPYRIGHT 2008 CLIFFORD R. ENNICO. DISTRIBUTED BY CREATORS SYNDICATE, INC. Permission granted for use on DrLaura.com. More >>