Business Consultant Advice – Investing in Consulting Could Save Your Company

According to many experienced business consultants, one of the biggest judgement errors that entrepreneurs and business owners make during a cash flow crisis is to lower their marketing budget. What might be more prudent is to laser target the best marketing investment scenarios so that you can maximise your spend and improve the potential ROI. If you’re wary about this (which is understandable given the current economic climate) a business consultant can help.

Are you afraid that your cash flow challenges mean that you can’t afford to pay another expense such as marketing, business consulting, or advertising expenses? In reality, you really can’t afford not to. You need to keep your customers engaged and continually work to attract new customers as well. Some of your competitors could be on the verge of going out of business and their customers may be looking for a better supplier or service provider. If you position yourself well you could easily capture more market share in the near future.

No one should blindly invest in marketing and advertising services. Expert knowledge is essential. A business consultant can help you in many ways, such as:

  • Showing you ways to work smarter, which could save time, manpower, and money
  • Showing you how to capitalise on existing customers to get more business. Wouldn’t you love the ability to easily extract more money from your existing customer base?
  • Help you determine where to spend your marketing budget. Even if your budget is small, a business consultant can help you maximise that spend so that you see a sizeable return on that investment.
  • Teach you today’s marketing methods. Your competitors may be lagging in new media marketing and by your embracing it, you can rise head and shoulders above that competition. If you are in a viable industry, even a recession doesn’t have to force you out of business. If you find new and innovative ways to appeal to your target demographic and market effectively, you can increase customer loyalty and even take customers from your competition.

The old adage that “it takes money to make money” is true but most true if you spend wisely. Now may be a time to focus on advertising that will bring in the right type of customers who are willing to or need to spend. By positioning your products or your services in the right way, you can attract more customers and be more successful.

In some ways, a lot of companies are hunkering down and trying to weather the storm. But remember, many success stories rise out of the ashes of tumultuous times. You don’t have to take advantage of your customers to be able to succeed and if your business consultant is experienced, he or she can help you become a great success story.

“The Smartest Investment Book You’ll Ever Read” by Daniel R. Solin – A Book Review

Synopsis of Content:

Daniel R. Solin is a leading securities arbitration lawyer and a registered Investment Advisor. He has testified before Congress and appeared on major television business news magazines. He wrote a small book (154 pages not including appendices) to demystify the world of investment for the ordinary person. He called this little book The Smartest Investment Book You’ll Ever Read (The Simple, Stress-free Way to Reach Your Investment Goals.)

This book may well not be the final word on investing. You may well read others. You may well decide to place your money in the hands of a professional investment advisor or at least seek their advice. However, you can learn a great deal from Solin’s little book and you will learn how much you can actually do without an investment advisor or broker.

Solin tells us that investing need not be complicated or stressful. In fact he emphasizes that it should not be stressful. He points out some of the fallacies about brokers, advisors and others who are supposed to “help” you with your investments. He teaches you what is wrong with hyperactive investing, that no one can actually time the market and that no one, and he means no one, can consistently beat the market.

Solin teaches the risk and reward formula you should use. He warns you about B and C shares, house funds, margin, and hedge funds.

Then he tells you what a smart investor should know. He first establishes his own credibility – he tells you why you should follow his advice. He then lists the institutional investors who follow his theory on smart investing.

After all of this preparation he gets to the good part. In about 50 pages he teaches you a four step process to beat 95% of the “pros” and become a smart investor. He teaches you how to determine the asset allocation that is right for you. He tells you which Fund Family to open an account with and how to select your investments. He teaches how and when to rebalance your portfolio. After a few more tricks and tips he tells you to do it.

Solin does not just make all this up. His book is carefully footnoted and he gives sources for his information.

I am not an investment specialist. I am not an investment advisor. And it is because of this that I liked this book so much. Solin tells you what you need to know to go forward with some confidence even while you continue to educate yourself further about investing.

Everyone has to start somewhere. I have looked at a good number of introductory guides and books on investing and none are as good as this one. It is easy to understand and it seems to be sound as a dollar – perhaps more so these days.

Solin tells us that no one will consider the investment of your money as seriously and as important as you will. He teaches you the basic principles you need to know to launch your investment boat and get your feet wet with minimal risk.

For the average investor who does not have expertise in this area this book is a great place to start.

Perhaps the best that can be said about his book is on the cover from various experts in the field and others who should know a good thing when they see it, including Larry Swedroe of Buckingham Asset Management, Inc., William Bernstein, author of The Four Pillars of Investing, Mark T. Hebner, financial author and expert, and others. They all endorse this book which Bernstein calls “a little gem”.

This book retails in hard cover for $19.95 – it may well be the best investment you ever make.

Readability/Writing Quality:

Solin’s writing style is easy to follow. This little book is written in plain English – a delight for anyone who has been overwhelmed by financial lingo.

Notes on Author:

Daniel R. Solin is a leading securities arbitration lawyer and a registered Investment Advisor. He has testified before Congress and appeared on major television business news magazines.

Three Great Ideas You Can Use:

1. Determine your asset allocation – Solin gives you tips on how to do it.
2. Open and account with one of the solid Fund Families that Solin tells you about.
3. Select your investments – again Solin gives the tips.
4. OK, there are four, not three – Rebalance your portfolio. None of this is new or revolutionary – it should not be – it is solid education for most of us out there who do not know what we are doing in the investment world.

Perhaps most important Solin talks to us in this book about what to and what not to expect in fund managers and investment advisors. He commits the heresy of telling you that you can do it yourself and how to do it!

Publication Information:
The Smartest Investment Book You’ll Every Read by Daniel R. Solin
© 2006 by Daniel R. Solin

Rating for this Book:
Overall Rating: Excellent
Writing Style: Very Easy to Read
Application: Highly relevant and applicable for anyone with two nickels to rub together
Technical Difficulty: Easy-Moderate

How to Find a Legitimate Home Based Business

There are many factors to be considered when choosing a home based internet business opportunity. The most important is legitimacy. The online world has provided an tremendous area for a multitude of scams. Identifying these scams is your first step in choosing what business opportunity is best for you.

The most obvious question to ask is how long the company has been in business. Pyramid or Ponzi schemes are rarely around after a few months of fleecing the unsuspecting. A simple Google search will turn up the bad press and testimonials from the scammed individuals warning you away from them. There should also be company history for you to check out. The system I use has been around since 2004, which is a good indicator that the people involved are in it long term, as opposed to just trying to generate some quick cash for a chosen few.

You should also find out what level of commitment will be required of you. I still don’t understand the mentality of people who think just because you are working online that no effort or investment is required. This “just give me the money for doing nothing” attitude is baffling. How do they think other people grew their businesses and achieved their level of success? That by just punching a few keys and putting up some ads is the gateway to financial freedom? Those people who sign up for these “get everything by doing nothing” programs and systems get exactly what they deserve, NOTHING! Please do not believe stories of overnight riches. A legitimate online business opportunity will expect you to put in some effort as well as some form of investment. Remember, this is going to be your business, and there is no legitimate business without a financial investment. You would not be able to run a traditional brick and mortar type business without actually working and putting up some kind of money. Why would anyone think that it can be done online? Anyone telling you different is LYING!

You will also want to look at what product or products you will be marketing. Is it something you can see yourself purchasing? Do you think it has a long term appeal? Companies offering no products at all should be looked with suspicion. Without a product what exactly will you be doing? Stay away from these schemes.

The compensation plan for any potential business model should be transparent. All income streams should be available for you to inspect and see for yourself that what the company is telling you is for real. Just because a company asks for money up-front does not necessarily mean they are trying to scam you. As I said before, a legitimate business opportunity will require an investment. But matrix type programs without a product or cash gifting programs are usually scams to be avoided. Again we are seeing the “get it all for doing nothing” scheme.

A top tier internet business opportunity will also have a in-depth training and support system in place. The training will come in a variety of ways. Webinars, teleconferencing, and email support should all be there for you. Live overviews with real time question and answer calls should all be things to look for when choosing your business opportunity. All of the tools ( custom websites, auto-responders, business coaches) you will need to get your business up and running should also be part of the deal.

I spoke of investment earlier. Systems and programs offering no cost sign ups are things you should be wary of. No cost to join programs allow what we call “tire kickers” to sign up for the system. These are people who have no intention of building a business and are those looking for the get rich quick with no effort type program which we know does not exist. The company should have some kind of filter in place to weed out these time wasters. This is a good thing because once you are up and running why would you want to spend your valuable time talking to someone who is just looking for something that is not there?

I went through these guidelines myself when I was looking for a legitimate home based online business opportunity. The system I use has all of things I talked about which made it all the more easy to get my business up and running. The company history, product, compensation plan, and training are unparalleled in the online business community