There are magazines, books, and online advertising promoting “the best” home based businesses. It is mind boggling to digest it all and too often we think “scam” when looking at these options. The best way to choose a home based business is to get to know someone who is already in involved and to use the products. This article will focus on the importance of the relationship side of home based businesses.Some of the most successful people who are making millions of dollars actually toured the plants and met the presidents of ten to twenty companies before making their final decision. The beginner doesn’t have to take it to that extreme, but will do well by forming a personal relationship with a business member who serves as a mentor. A duplicatable business system is ideal for working out of the home. The team member/mentor should be able to explain the process of duplication.The rule of thumb is to understand that people respond to people. The product is the reason to be in business but it is secondary to the seller’s knowledge, passion, and ability to communicate with rapport.Here is a simple check list to use when choosing a home based business:How comfortable are you with your potential team member who is working with you?Do you feel the potential team member just wants to sign you up or establish a long term relationship with you?Are your questions answered with enthusiasm or with irritation?Has the potential team member provided a summary of the duplicatable process or does it sound as if there is a complicated training system?Does your potential team member make time to talk to you?Before signing up with a company, it is important to feel comfortable with the people are who teaming up with you. The focus of most home based businesses is to be in business for yourself, but not by yourself. The actions of the group should prove beneficial for all involved.

If this question has crossed your mind once or twice trust me when I tell you that you are not alone. With so many home based business opportunities to choose from making the right decision is critical to your success.I can tell you first hand that I personally looked high and low for a legitimate business I could work from the house as a stay at home mom but the many different choices completely overwhelmed me at times.During my frequent searches I stumbled across many different opportunities, some that looked bad, some that looked good and some that looked too good to be true. I’m sure you know what I mean.I remember one particular business opportunity that was recommended to me and it involved data entry. Let me be the first to tell you that I don’t consider that a home based business; maybe a home based job but definitely not a business. I’d almost classify it as one big scam but I digress and this article is about whether or not selling wickless candle warmers is a legitimate home based business opportunity.I know what you’re thinking, well, get to it girl…is it or isn’t it? The answer is a resounding yes, it truly is business opportunity that many men and women are already taking advantage of and with room to grow I know that many more people will consider starting their own home based wickless candle warmer business.I think what makes this such a viable opportunity is the fact that nearly everyone wants their home or office to smell better and quite honestly candle sales are booming. Unfortunately, they do pose a bit of a fire hazard and a minor health hazard based on the soot they emit due to the flame involved.Fortunately that’s what makes selling flameless candles or wickless warmers different. Traditional candle based businesses are designed around selling scented candles so they succeed at providing a refreshing smell for the buyer of the scented candle but they fail to safely address the fire hazard and soot issue.Flameless candle warmers still provide the benefits associated with a scented fragrance filling a room but do so without resorting to using a heated flame which could cause a fire, burn a small child or harm an innocent pet. Additionally they completely eliminate the trouble associated with soot being released into the air and inhaled by occupants of the home or house where the wickless candle warmer is being utilized.As a result, these types of products appeal to a very eager group of customers who want their home smelling good with a lovely scent, without all of the dangers associated with a traditional candle. Naturally, these flameless candles tend to sell themselves making them the perfect fit for a home based business opportunity.Listen, don’t just take my word on it. Continue reading and have a look for yourself. I promise you’ll be amazed at what you find out in regards to owning your own home based wickless warmer business.

When it comes to the real estate business, getting real estate leads is one of the main issues and problems especially for those new in this sector. I’m sure most of you have tried various marketing techniques from online marketing to the normal marketing of cold calling and handing out fliers. Well, those strategies do work but instead of wasting too much time formulating a marketing strategy again and again, why not concentrate on methods that really do work and could bring you a higher percentage of real estate leads?

Now, when we talk about real estate leads, we most invariably refer to highly motivated seller leads or even desperate buyer leads. Whichever it is, in the real estate business, we depended the most on motivated seller leads to get great below market value properties and of course, we need even more motivated buyers to get those properties off our hands so that we could earn a sizeable profit from it.

Although the current economic situation is not doing so well, I feel that it is the best time as any to get really good real estate leads. This is because in such trying times, there are plenty of highly motivated sellers out there and all you need are a straight path leading them to you. So, how do you do that? Here are some sure-fire and non-costly tips:

- Create a strong presence especially in the real estate sector online with a professionally set up and yet user-friendly website

- Encourage readers or visitors of your website to sign up to your website by offering free e-books in real estate investing, financial tips, on mortgages or any other topic you are comfortable with.

- Always provide them with great tips and advices on real estate management, real estate investment, even on real estate taxes so that you become a source they trust.

- Other than an online presence, start creating an in-person presence by being more prominent in your community

- Take part in community events and functions as often as possible and remember to network, network, network! But remember, don’t be too pushy as this could turn people off you.

- Distribute bold, interesting real estate fliers in your area frequently to target different segments each time so the first 100 fliers could be targeting motivated sellers while the second batch could be targeting buyers. So, yes, you will need to create different fliers for different markets.

- Dig out your own lists (especially the old ones) and start sending them emails / letters reminding them that you are still around and ever ready to help them with their real estate needs.

- Join clubs and associations and be as prominent as you can during those meetings and functions. Again, this is for networking purposes for you to distribute your business cards but remember, no hard selling or pushiness getting people to go to you when it comes to real estate.

- Start a charity event (it could be a small bake sale, it doesn’t matter) and start inviting everyone to participate. Just remember to place your business information and logo in a prominent place and yes, start passing out your business card to all those who came.

With these real estate lead tips, I am sure you will start getting calls and effective leads that result in profits for your real estate business.

To become successful with your money, you have to make your money work for you. You sell your labor which in return makes you money. By making each individual dollar work for you, this in return makes you wealthy over time. There are a plethora of investing opportunities out there. The key is to figure out which one is the right one for your financial situation.

Stocks
The most popular of all investing opportunities, are stocks. Stocks are probably the main thing you think of when you hear of investing. When you buy a stock, you buy partial ownership of a company. Stocks range anywhere from $2, to $12,000, which can appeal to a large variety of people. To be successful when trading stocks, you have to buy low and sell high. Of course this isn’t easy, considering the market is always fluctuating. You need to watch the history of the company, know the PE Ratio, the day range, the 52 week range, etc. Knowing this information can help you predict if the stock will go up or down. You can make a lot of money investing in stocks, which means you can also lose a lot of money. You want to keep in mind that most investments in stocks are long term investments. It is very risky investing, but if you do the proper research of the history of the company, you can get a very good return.

Stock Investing Tips

1.) Have the Right Expectations
When you are investing in stocks, you want to make sure you aren’t expecting to become Warren Buffet over night. It just wont happen. You want to make sure you do the proper amount of research, and make sure you know the history of the market as well as the company you are investing in. When investing in stocks, the return is around 10%-13%. You don’t want to make hasty decisions and buy and sell a lot just because you aren’t making the money you expected. Make sure you know how long you are keeping an investment, and then make a commitment. This will help you focus on the principles.

2.) Don’t Listen to the Media
Don’t get caught up in what everyone is talking about and what is being said around you. It will take your decision from being based on research and history, to just “hear-say”. This will hurt your investments immensely. Most of the hype and other things that are being said are just the daily fluctuation of the market.

3.) Stay Focused
You want to make sure you are putting all your effort and focus into your investments. Once you buy a stock, you own part of a company. Make sure you treat it the way it is and make sure you do the proper research of all aspects of what you’re investing in. Doing your research can change your investment of making a profit of $15,000, to losing $15,000. In the end, it’s always worth it to do the extra work.

Mutual Funds
When you invest in Mutual Funds, you are pooling your money with a number of other investors. You then pay someone to professionally manage and choose each individual security for you. There are a variety of different mutual funds you can choose to invest in, which range to fit your investment strategy.
3 Types of Mutual Funds
1.) Open-Ended
2.) Unit Investment Trust
3.) Close-Ended

Mutual Fund Investing Tips

1.) Look at the Fees
Always look at the fees involved when investing in Mutual Funds. When you pay more for something, this usually means that you are going to be getting a better product or service, right? Yes! Makes sure you find the best deal, but make sure you are investing the right amount of money in the right places. It can change the course of the whole investment in the long run.

2.) Research the History
One thing you can do to prepare an investment is to check out the history of the Mutual Fund. Just like anything, the history shows how well it has performed, and can be a good indicator. This can directly tell you if it will be a good investment whether it be long term or short term. Another thing you want to look at, is the asset of the fund. If it’s doing good, and there is a community of people investing in it, it can tell you if its a smart idea to invest yourself. Always check the history of any investment before you decide to purchase.

3.) Look at the Contract
You never know what is all involved until you take a detailed look at the prospectus provided by the fund. You want to make sure you don’t just know bits and pieces of what’s involved, but everything there is to know, and then some. Make sure you know all the fees involved with buying and selling funds, and if there are international fees required. Knowing this can help you determine if the company is a solid company where you can make money, or if you are getting into something you will regret in the future.

Bank Investments
Bank accounts are one of the simplest form of investment. Most banks give you a very small percentage for opening a bank account and giving them your money. This percentage barely beats the rise of inflation, so unless you are keeping hundreds of thousands of dollars in the bank, you won’t be creating any wealth from this form of investment. Another way to invest in your bank is a CD, or Certificate of Deposit. A CD if very similar to a bank account, but they are usually for a fixed amount of time. They can be monthly, every six months, a year, etc. the CD is then held until its maturity date, and paid back with interest. A Certificate of Deposit usually earns more money than an account at which you can withdrawal the money at any time, like a bank account.

Alternative Investments
Apart from the basic investments, there are other special securities. These investments include gold/silver, real estate, etc. These investments are speculative and can be very high profit, however; you need to have the knowledge.

1.) Gold & Silver
The first thing you want to do before you invest in gold or silver, is to look at the market and decide if now is the best time to invest in precious metals. You can also talk to a professional and decide when the best time to buy and sell would be. You want to make sure you are familiar with the variety of ways to invest in silver. You can invest in silver mining companies, silver ETF’s, silver futures, silver bullion, and also silver coins. You want to make sure the Exchange Traded Funds (ETF) are backed by physical gold and silver. Another thing to remember, is to not just own a paper owning, but the actual precious metal as well.

More than 250 years ago, Benjamin Franklin famously said, “An ounce of prevention is worth a pound of cure”. He was advising Philadelphia homeowners to insure their homes against fire to avoid catastrophic losses. Franklin’s advice is just as applicable today to the legal issues of your business.

In this article, we explain a new legal service, Canadian Business Legal Checkup, an audit of legal matters affecting your business. Business Legal Checkup is a diagnostic tool most small and medium size businesses could use to verify if legal aspects of their operation comply with the law and to minimize risk, litigation and expense. When the Business Legal Checkup is completed, the business owner receives a lawyer’s report red-flagging matters which need correction, improvement or further legal advice.

A closer look at the Business Legal Checkup

Your business is built on a foundation of laws and legal procedures. As a prudent business owner, you have probably considered the following legal matters:

o You had to incorporate your business. The corporation has been properly set up. All shares are properly issued. Directors and officers have been appointed. The corporate minutes and register are up-to-date.
o You and other directors of the corporation know exactly what your duties and liabilities are. All directors are protected from liability by sufficient insurance coverage.
o You have a shareholders’ agreement so that all shareholders know their roles. All partners are treated fairly. There is an orderly method for valuation and termination of the corporation. You understand the minority shareholders rights requirements of the Business Corporations Act.
o You filed a business registration and have a system to renew it before expiry and you have registered any business names that you are using.
o You filed trademark, patent and copyright applications to protect the intellectual property of your business.
o Your URL (web address) is trademarked. You have audited your website to check for breaches of privacy law, defamation and technology law issues. Your online sales portal is set up to avoid legal problems with privacy law, identity theft and contract issues.
o Your licencing and registrations are up-to-date. If your salespeople have to be registered or licenced, you have a system to ensure that their registrations are up-to-date and that their regulatory requirements are being monitored.
o You have a long term lease for your plant or office. You had your lease vetted by a lawyer. You know what it says, including the extra rent the landlord can demand. You know the deadline for your right to renew.
o You use several legal standard forms and contracts in your business. These have all been vetted by a lawyer to comply with applicable laws including the PPSA, the Interest Act, the Consumer Protection Act, the Sale of Goods Act, the Mercantile Law Amendment Act and the Bills of Exchange Act and contract law.
o If you extend credit, you know that your service charges don’t exceed the “criminal rate of interest”.
o You know prohibitions against misleading advertising and unfair competition in the Competition Act.
o You understand the privacy legislation and you have a system to ensure that you comply each time you collect, use, or disclose personal information.
o Your employees have signed agreements which spell out the length of notice they are entitled to receive if you terminate their employment. You know who is entitled to how much and what to do if you decide to terminate an employee, whatever the reason. You understand your obligations under the Employment Standards Act.
o Your employees have all signed non-competition covenants and non-solicitation agreements to prevent them from taking away your best clients, business procedures, best employees and trade secrets if they leave to set up shop on their own.
o You have a procedure to prevent violation of the Human Rights Code and you know the protected grounds of discrimination. You also understand all of the elements of sexual harassment and you know how to deal with it.
o You know your company’s rights and obligations under the Workplace Safety Insurance Act and the Occupational Health and Safety Act.
o You have liability and multi-peril insurance and you know what it covers.
o Your manufacturing and distribution processes are set up to avoid potentially devastating product liability and class action lawsuits. You have minimized risks.
o You keep up-to-date with changes in the law which affect the corporate, contractual, insurance and employment law issues in your industry.
o You have complied with the filing requirements for income taxes, sales taxes and GST. You have had your business and municipal tax assessment vetted.
o You know what precautions to take to help prevent litigation.
o If you are about to get involved in litigation, you have an action plan to maximize your chances of success and to keep the cost in check. When hiring a lawyer, you know what you need and what to expect.

Stop the presses – before we continue – do we hear you saying there are many items on this list that you haven’t looked after, that you haven’t thought of or which could be updated?

We’re not surprised. In our experience, small and medium-sized business owners don’t get around to dealing with many important legal issues involved in organizing their business relationships with partners, shareholders, customers, employees and government and in preventing or managing the risk of expensive litigation. Often, agreements are not fully thought through.

Small business owners tend to do only what they absolutely have to do to comply with the law and are reluctant to spend money for top drawer legal services when an inexpensive shortcut appears to do the trick. Your focus is getting your business up and running, getting your product to market, making sales and keeping costs down. You could be lucky and run your business for years without anything going wrong.

Fair enough, but if you disregard preventive legal measures like the ones mentioned, your business is like a driver without a seatbelt in a car that has never been serviced —in other words, a catastrophic accident waiting to happen.

Here are two examples of business legal nightmares that could have been easily avoided with a program of preventive law such as the Business Legal Checkup. These are actual cases, decided in Ontario courts:

o A Toronto RV dealer sold a motor home to a customer. After using it for a couple of weeks, the customer complained that the salesperson had misled him about a “rental program” and brought the motor home back and refused to make any payments. The dealer sold the motor home as a used vehicle and suffered a $25,000 loss for which it sued the customer.

The Ontario Court of Appeal decided that customer was entitled to return the RV and cancel the contract because the salesman’s Motor Vehicle Dealers Act registration expired and was not renewed. This made the contract illegal. The RV dealer didn’t have a system to check if all their salespersons’ registrations were current. The dealer not only lost $25,000 but also had to pay about $30,000 to their own lawyer and almost that much in legal costs to the customer’s lawyer. A Business Legal Checkup could have saved this business most of the $100,000 and a lot of aggravation.

o A southwestern Ontario company was a wholesale distributor of car alarm systems, which started as a basement operation and developed into a successful business. The owner used contract forms he found on the internet. Why pay a lawyer when forms were right there for the taking? His standard form contracts had statements that he didn’t fully understand but if they were on the internet, they must be OK. He didn’t have a lawyer check them. The standard form agreements didn’t create a problem for several years.

The distributor extended credit to CAG, a company owned by a Mr. Don for more than $90,000 worth of car alarms. He wasn’t worried about payment because Mr. Don signed the standard form contract — the one he found on the internet for free — which stated that Mr. Don was personally liable for everything CAG ordered. When CAG went out of business, the distributor sued Mr. Don. The Ontario Court of Appeal dismissed the claim against Mr. Don because the personal liability clause in the standard form agreement was unclear and was capable of two meanings. The distributor didn’t recover his $90,000 and had to pay legal fees to his own lawyer and costs to Mr. Don’s lawyer. A Business Legal Checkup could have saved him almost $150,000 and possible financial ruin.

These examples are the tip of the iceberg. As you read this article, you can probably think of other examples that affected your business. In each case, it’s more than the legal expenses that are at stake. The business owner has to devote time and sleepless nights to the legal dispute and loses time from running the business.

How does a Business Legal Checkup work?

o You will be asked to complete some forms to provide confidential information about your business.
o You will have a discussion with the lawyer to assess the scope of the Business Legal Checkup. For example, it doesn’t cover tax law, environmental law or succession planning unless special arrangements are made.
o A basic Business Legal Checkup will provide a diagnostic review of the legal status of the following issues in your business: (1) Set up and governance of your corporation; (2) Relationships among the owners of the business; (3) Relationships with employees; (4) the contracts and forms used in the business; (5) Competition Law and Illegal Advertising; (6) Intellectual Property, Trade Secrets, Confidentiality and Privacy; (7) Safety and risk management; (8) Risk analysis and efficient management of existing litigation; (9) Internet Issues; (10) Regulatory licencing issues.
o A Business Legal Checkup can also be customized to meet the business owner’s specific requirements. This may require consultation with outside legal experts.
o In preparation for the Business Legal Checkup, you will be asked to provide documents and information concerning each category of the analysis.
o After the documents have been reviewed by a lawyer, consultation may be required with other lawyers. Further clarifications may be required from you and other senior officers of your business.
o A report will be prepared explaining the status of each topic and red-flagging issues which require attention and indicating their level of urgency.
o When the Business Legal Checkup report is ready, the business owner may prefer to have the Business Legal Checkup lawyer or legal team present the findings orally. An oral presentation followed by a Q&A session can assist the business owner to plan the next steps efficiently.
o The Business Legal Checkup legal team will facilitate referrals to lawyers who are specialized in resolving the legal problems identified by the Business Legal Checkup.

How much will a Business Legal Checkup cost?

For a small startup business with less than five employees, operating out of a single location and having only one business entity, a Business Legal Checkup can usually be completed for about $5,000 to $7,500 if there are no unusual problems.

Who needs a Business Legal Checkup?

Every business needs to know whether its legal processes are efficiently compliant with the law. Public corporations are obliged to provide certain levels of legal compliance to government and regulatory bodies. A small private corporation does not have the same levels of mandatory compliance but failure to do so voluntarily is like the proverbial ostrich with its head in the sand.

A Business Legal Checkup is also useful for a business owner who is considering the sale of his business or for a prospective purchaser of a business. Minority shareholders could insist on a Business Legal Checkup annually or bi-annually to ensure that management and the majority shareholders are meeting their obligations to the corporation.

A Business Legal Checkup may also be a credibility tool for a business seeking financing or government contracts. Unlike a financial audit, ISO9001 and ISO 14400 compliance standards, the Business Legal Checkup is a confidential report to management only and expressly excludes reliance by outside parties. If an outside party, such as a lender or investor, will receive a copy of the report, the Business Legal Checkup legal team must be informed in advance so that concerns relevant to these outside parties can be taken into account.

Where can my business get a Business Legal Checkup?

So far as we know, the Business Legal Checkup, as a fixed-price legal diagnostic tool for private small and medium-sized businesses is a new legal service in Canada. Interested business owners are invited to contact us for information.

Benjamin Franklin’s famous advice has evolved. A Business Legal Checkup can be much weightier than an “ounce of prevention”. It could provide “tons” of preventive advice to save your business from damaging or catastrophic expense. The Business Legal Checkup will also provide the business owner with peace of mind which, as another saying goes, is “worth its weight in gold”.