Business Black Belt: Goal setting for 2008?!? What the gurus don't tell you...

Burke Franklin, Founder & CEO of JIAN, Best-Selling Developer: BizPlanBuilder Software, Best-Selling Author: Business Black Belt

(I first published this for the Jan 2007 newsletter -– since the response was so positive, I thought I’d share it again for this year.) I'm sure you will hear or read a lot about “goal-setting” as you go into 2008... here's a different idea to consider... For example, I used to write down my goal of, “Get my pilot's license by the end of this year.” But it didn't work. The next year I wrote, “Get my pilot's license by December 31, 20xx.” Thinking that a specific date was better (even if I allowed myself the entire year to get it done.) I even kept pictures of airplanes around as my motivation and reminder... Still didn't work. Then I did something all the goal-setting gurus don't tell you: I wrote on my to do list, “Go down to the airport and sign up for flying lessons by Friday.” That I could do. And did. Now I've had my pilot's license for many years. The end result can be a great goal, but the starting act is the operative action that gets the ball rolling. From now on, set that as your goal.
Here some other ideas:

• Lose 20 lbs by Feb à Take the Butts & Guts class at the gym every Tue & Thu. (Add it to your PDA with the alarm set!)
• Make $10,000 by February à Give 20 presentations each week.
• Organize my office by February à Throw away everything I'll never use by Friday.

Product Tricks: Using the JIAN system for more than business templates

Almost all of our Windows products work on the same JIAN Multi-user Interactive Document Assembly System (MIDAS). We use our collaborative MIDAS system ourselves to put together the user manuals. You too can enable a team of writers and editors from all over the planet to collaborate on documents. Next time you open Biz Plan Builder, Employee Manual Builder, Safety Plan Builder, etc. pull-down under File and you’ll see this little window.
You can use this capability to add Word docs, Excel files and PowerPoint presentations in to one project. Drag and drop to sort the order, print the entire thing, export to PDF or HTML. You already have the product! Go for it.

Easily create your own projects
Besides the project templates we include, you also have an easy to use document assembly system you can use over and over again to put together your own projects like:

• Textbooks
• Technical handbooks
• Training manuals
• Sales books

In addition to providing all of our popular templates in Word, Excel and PowerPoint (MS Office XP/2003/2007), the new multi-user JIAN “MIDAS” system enables an unlimited number of team members, including owner/CEO, consultants, management team and employees with secure and controlled access to file-sharing and collaboration over a network, server, or the Internet. (That’s almost like Microsoft saying, here are all of these Excel templates and by the way you can use Excel for other things!)
Click here to learn more about doing this

License-wise, you’ll need an individual license for each user. They’re $49.95 each. The separate serial numbers will assure the proper check-in/check out for each user to prevent inadvertently overwriting each other’s work.

Watch Me Online: “The Thinking Behind Your Business Plan”

Now you can watch this 100-minute video on your computer. I’ve given this presentation a number of times to groups of entrepreneurs about the various aspects of business planning, and about the audience to whom you are presenting your business idea and plan. At risk of being politically incorrect at times, I talk about what I’ve been seeing and hearing from angel and VC investors, and give you some ideas for successfully getting through to them.

Guest Article: “The Mystery of Practice”

The following article, somewhat revised, is from one of my first newsletters back in 1999. It is still one of my favorites. Enjoy.
For my 40th birthday (yikes! That was 14 years ago.), I gave myself voice lessons. It was a rude awakening. I had always loved to sing, and now I discovered that I couldn't open my mouth properly, articulate vowels correctly, or make my tongue lie at the bottom of my mouth. I wanted to quit.

Fortunately I didn't, and that is how I realized the mystery of practice. I had always thought that practice meant repeating something correctly. (I used to believe that I was not competitive, but then I realize that it's just that I avoid things I can't do well.)
It is humbling to encounter one's limitations on a daily basis. Fortunately, it is not fatal. Bit by but I became more present when practicing, if only because there was no benefit in looking at my past performance (mediocre) or anticipating future progress (entirely theoretical). With no alternative, I practiced for the sake of practicing.

Eventually, my vowels emerged with some clarity and -- wonder of wonders -- my tongue began to obey. But best of all, I had learned to practice without knowing if I could succeed. In fact, I learned that letting go of the results was the secret to improvement.
What can you practice today that you are not already a master of?
This article originally appeared in the Authentic Promotion e-zine and is reprinted with permission from the author. Molly Gordon is president of Shaboom Inc., a coaching and training company that delivers hope, help, and hilarity to Accidental Entrepreneurs so that they can build a business that fits just-right.

by Molly Gordon of Shaboom!, Inc. For more information, visit http://www.shaboominc.com. Copyright 2007, Shaboom Inc. All rights reserved

Managing Tips: How to Spot Problem Accounts Early

If you extend credit to your customers, some losses are inevitable. So unless you are willing to forgo the credit part of your sales, you have to figure out ways to control your bad debt losses.
Once you have extended credit to a customer, you have a stake in continuing the relationship even if you suspect there might be trouble a-brewing. You don't want to crack down on a good customer too hard too soon; yet you don't want to be "taken" by a debtor who has become unable or unwilling to pay. The problem is distinguishing between slow pay (which is bad enough) and no pay.
What you need is an early warning system to detect a credit problem in the making, so you can stop additional sales to that customer and begin collection procedures in earnest. Here are some of the telltale signs that point to an account that is turning sour.

• The debtor has begun paying erratically, settling up on smaller invoices while larger ones just get older, at the same time disputing specifications or terms.
• The debtor fails to return your phone calls or shows unusual annoyance at your inquiries.
• Your requests for information, such as updated financial statements, are ignored.
• The debtor places jumbo orders and presses you for a higher credit limit.
• Despite the problems you are having, the debtor tries to coax you into providing a good credit report to another supplier.

You get word that the debtor's credit rating has been downgraded.
Any one of these hints of trouble can be the handwriting on the wall. Two or more and it's time to crack down. Take a firm stand; turn up the heat on your collection efforts with this debtor, and make no more sales unless they're cash on delivery.
For more information or assistance in this area, visist: www.mr-cg.com

~ Edward Mitchell, Management Resources,

We like to pass along useful ideas to our entrepreneurial customers. When you have something to share, please email us here: Editor-Business Black Belt

Thinking Tip: “Resolve? Or re-solve?”
By Barbara Nixon, Ph.D.
January 1, 2008 (Read the Full Artical)
It’s the time of year again when many of us begin to make our New Year’s Resolutions. As I pondered whether or not I’d continue this tradition myself, I realized something. When you take the word resolve and notice how it breaks down into two syllables, you have another word: re·solve. That got me thinking…

How often do we try one more time to solve a problem?
In other words, how many times do we try to “re-solve” a problem?
In my own experiences as a professor, wife and a mother, I know there have been times that I have been working on a solution, only to discover that I was missing a critical piece of information which was hampering my decision-making process. Why did this happen? Perhaps I didn’t listen closely enough at some point in the process.

~ Barbara Nixon, Ph.D., Insightful Communication and Leadership Consultant -- Listening Matters, http://www.linkedin.com/in/barbaranixon

Tax Tricks: IRS releases tax numbers for 2008

The IRS adjusts many tax numbers for inflation each year. Other numbers change as a result of tax law revision. In your tax planning for 2008, take the following changes into account:

• The maximum earnings subject to social security tax increases from $97,500 to $102,000 for 2008. As before, all earned income (wages and self-employment income) is subject to Medicare tax. The social security earnings limit for retirees under age 65 increases to $13,560. There is no earnings limit for those 65 and older.
• The nanny tax threshold increases to $1,600 for 2008. If you pay household workers more than this amount during the year, you're responsible for payroll taxes.
• The kiddie tax threshold increases to $1,800. If your child under age 19 (or under age 24 if a full-time student) has more than $1,800 of unearned income in 2008 (e.g., dividends and interest income), the excess could be taxed at your highest rate. Another important change this year: The age limit for the kiddie tax increases to 19 and to 24 for full-time students.
• The first-year expensing limit for the purchase of business equipment increases from $125,000 to $128,000. The expensing election phases out once total purchases for 2008 exceed $510,000.
• The standard mileage rate for business driving increases from 48.5¢ to 50.5¢ per mile, effective January 1, 2008. The rate for medical and moving mileage decreases from 20¢ to 19¢ per mile. The rate for charitable mileage remains at 14¢ per mile.
• The adoption credit increases to $11,650 for 2008 adoptions.
• There are some changes to the retirement plan contribution limits for 2008. The maximum contribution for an IRA increases to $5,000 for those under age 50, and to $6,000 for those 50 and older. The SIMPLE plan limit remains at $10,500 for individuals under age 50, and at $13,000 for those 50 and older.
• The 401(k) limit remains at $15,500 for 2008. Those 50 and older can contribute up to $20,500. The maximum allowed for SIMPLE plans remains at $10,500. If you are 50 or older, you can contribute up to $20,500 to a 401(k) and $13,000 to a SIMPLE plan.
• The estate tax exemption remains at $2 million, and the top estate tax rate remains at 45% for 2008. The annual gift tax exclusion remains at $12,000 per donee.

Tax Tricks: Important Dates to Respond...
Circle these dates on your 2008 calendar if any of the following upcoming tax deadlines apply to you or your business.

• January 15: Due date for the fourth and final Installment of 2007 estimated tax for individuals (unless you file your 2007 return and pay any balance due by January 31).
• January 31: Employers must furnish 2007 W-2 statements to employees. 1099 information statements must be furnished to payees by banks, brokers, and other payers.
• January 31: Employers must generally file 2007 federal unemployment tax returns and pay any tax due.
• February 28: Payers must file information returns (such as 1099s) with the IRS. (March 31 is the deadline if filing electronically.)
• February 29: Employers must send W-2 copies to the Social Security Administration. (March 31 is the deadline if filing electronically.)
• March 3: Farmers and fishermen who did not make 2007 estimated tax payments must file 2007 tax returns and pay taxes in full.
• March 17: 2007 calendar-year corporation income tax returns are due.
• April 15: Individual income tax returns for 2007 are due unless you file for an automatic extension. Taxes owed are due regardless of extension.
• April 15: 2007 partnership returns are due.
• April 15: 2007 annual gift tax returns are due.
• April 15: Deadline for making your 2007 IRA and education savings account contributions.
• April 15: First installment of 2008 individual estimated tax is due.
• June 16: Second installment of 2008 individual estimated tax is due.
• September 15: Third installment of 2008 individual estimated tax is due.
• October 15: Deadline for filing your 2007 individual tax return if you filed for an extension of the April 15 deadline.

~ Edward Mitchell, Management Resources, www.mr-cg.com

We like to pass along useful tips to our entrepreneurial customers. When you have something to share, please email us here:
Editor-Business Black Belt

Customer Success: People just like you are finding success with JIAN

$850,000 to Start an Athletic Club
"As someone who had never turned on a computer, I used BizPlanBuilder and raised $5 million in capital to buy a large health club because of your software.

I still get compliments on my first biz plan when folks want to see what we did to raise our original capital. I always send them your direction!"

- Bob Shoulders, Fayetteville Athletic Club, Fayetteville, AR

I don't know if you remember me telling you this story but when I was raising capital, I had one venture capital guy take me to lunch and tell me good news bad news scenario....... “the bad news is I'm not gonna do your deal. the good news is if you don't get it done, I would like to hire you to write business plans for me!”
Click here to continue reading other success stories…

We like to pass along anecdotes of accomplishment to our other entrepreneurial customers. When you have something to share, please email us here: Editor-Business Black Belt

For Fun: Single Word Puns

• ARBITRATOR: A cook that leaves Arby's to work at McDonalds.
• AVOIDABLE: What a bullfighter tried to do.
• BERNADETTE: The act of torching a mortgage.
• BURGLARIZE: What a crook sees with.
• CONTROL: A short, ugly inmate.
• COUNTERFEITERS: Workers who put together kitchen cabinets.
• ECLIPSE: What an English barber does for a living.
• EYEDROPPER: A clumsy ophthalmologist.
• HEROES: What a guy in a boat does.
• LEFTBANK: What the robber did when his bag was full of money.
• MISTY: How golfers create divots.
• PARADOX: Two physicians.
• PARASITES: What you see from the top of the Eiffel Tower
• PHARMACIST: a helper on the farm.
• POLARIZE: What penguins see with.
• PRIMATE: Removing your spouse from in front of the TV.
• RELIEF: What trees do in the spring.
• RUBBERNECK: What you do to relax your wife.
• SELFISH: What the owner of a seafood store does.
• SUDAFED: Brought litigation against a government official

For Fun: Red Skelton's Recipe for the Perfect Marriage

1. Two times a week, we go to a nice restaurant, have a little beverage, good food and companionship. She goes on Tuesdays, I go on Fridays.
2. We also sleep in separate beds. Hers is in California and mine is in Texas.
3. I take my wife everywhere...but she keeps finding her way back.
4. I asked my wife where she wanted to go for our Anniversary. "Somewhere I haven't been in a long time!" She said. So I suggested the kitchen.
5. We always hold hands. If I let go, she shops.
6. She has an electric blender, electric toaster and electric bread maker. She said, "There are too many gadgets and no place to sit down!" So I bought her an electric chair.
7. My wife told me the car wasn't running well because there was water in the carburetor. I asked where the car was; she told me "In the lake."
8. She got a mudpack and looked great for two days. Then the mud fell off.
9. She ran after the garbage truck, yelling "Am I too late for the garbage?" The driver said "No, jump in!"
10. Remember: Marriage is the number one cause of divorce.
11. I married Miss Right. I just didn't know her first name was "Always".
12. I haven't spoken to my wife in 18 months. I don't like to interrupt her.
13. The last fight was my fault though. My wife asked, "What's on the TV?" I said "Dust!"

We like to pass along [silly/profound/fun/ny stuff] to our entrepreneurial customers. When you have something to share, please email us here: Editor-Business Black Belt

In this Issue:

• Business Black Belt
  
• Product Tips & Tricks
  
• Guest Artical
  
• Manageing Tips
  
• Thinking Tips
  
• Tax Tricks
  
• Customer Success
  
• For Fun
  
• Special Deals

Update your Business Plan for 2008:
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BizPlanBuilder - Suite Business Edition 2008

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Agreement Builder 2008!