The World Business

Archive for May, 2010

If you are immersed in the world of internet marketing, you have probably heard many times the advice: don’t re-invent the wheel, follow someone successful. But simply copying a business idea is sloppy and might not get you the results you are dreaming about, just because it has been done already in that way. So how can you add a zesty twist to your business idea?

Many people use the excellent technique of brainstorming. You simply write down, without editing, all the business ideas you can think of. Remember, you shouldn’t judge any idea at this point.

The best place to start, of course, is to think of business ideas relating to your interests and passions, things you know quite a lot about or are passionate about learning more about. Anything can work: pet care, model airplanes, car accessories, home decorating, knitting…

But identifying your passions and interests is only the very first step toward a great business idea. Let’s face it, many people have cats, for example and learn about the best food for their cat or all about the best product for eliminating tics. So how can you come up with original business ideas on such a popular topic?

For your first business idea, try to stick with things you have experienced. Do you have a special tip to share with people? Something you learned while trying something new? Is there a life experience you can describe in detail and through it help others who are going through the same experience as well?

The point is that you will always have an original twist to your basic business idea, because no one has gone through any experience in the exact way you did, with the same emotions and lessons, conclusions and thoughts…

You will always have something different and unique to say about something common, some small change to offer to an already existing system, a personal perspective on things that gives you something to offer. There lies your personal bank of business ideas.

A first original business idea can help you establish yourself as a brand name in the field of your interest. But what about other topics? What about your next business ideas?

Continue to brainstorm, using associations and questions. Associations can help you identify smaller markets, different ideas for complementing products, such as a series of books or a suite of programs, create related websites and much more beyond that. The sky is the limit, plain and simple!

The questions you can ask yourself about a business idea are, for example: does such a product already exist? Can I improve on the same idea? Is there a concern of people who share my interests that has not been taken care of yet? Can I come up with a simple solution to a simple problem?

Remember, someone may have come up with a business idea you are interested in already, but you can always look for a personal twist of your own to add and make it uniquely yours.

Brainstorming is the key to that mind vault of business ideas each one of us has. You can brainstorm everywhere, by your desk or in a restaurant. All you need is a piece of paper or an open file. Most people would prefer peace and quiet for this exercise.

You can write single words or complete sentences, draw pictures that relate to your business ideas or any other technique that will keep the idea clear later when you review it. Let your brain run, don’t hold back.

When you are done, you will be surprised at how many new and unique business ideas you can collect from this list. Simply add your personal twist and you are on your way to fulfilling your dreams.

Over the past few years, the use of extranets and intranets by law firms to share critical documents with co-workers, clients and co-counsel has been firmly established.

One area in which an extranet is particularly useful is in litigation, where a large number of parties require a massive number of documents over a fixed period of time.

Keeping things organized
An extranet provides a single location dedicated to the individual case. Access to documents can be defined by the need of the user. For example, documents relating to clients are very different than those required by co-counsel.  An extranet allows everything to reside in one place, but access can be defined by individual needs. It also automates alerts – so that users know the instant a new document has been posted, and can find it quickly in a dedicated folder.

Many extranets go beyond the simple sharing of documents. Many include tools such as a comment function, calendars, project trackers, and approval functions. These tools can be used to report on the all activities and on the progress of the case.

Providing a permanent record
All actions taken within the extranet are recorded, and most extranets provide powerful search tools that allow users to quickly see who did what, and when they did it. All actions are name and date stamped, providing a complete record of activity in what is often a fast moving environment where documentation is difficult to manage.

Easy to setup and use
Extranets that are offered by application service providers can be created and used in a matter of days. It’s a simple matter of subscribing to a service that provides all the technology and training.  Many are so intuitive that they require no training at all – they’re as easy to use as email.

A secure environment
Managing legal documents requires the highest level of security. Extranets require an id and password for access, and many provide encryption of all transmissions.

And when the case is over . . .
It is fast and easy to close the extranet and download all of the information. Often, litigators will create an extranet for each case they handle, and simply close it at the conclusion of the case.

The export of certain Inuit sculpture from Canada to other parts of the world including the United States does have some restrictions. In order to reduce harvesting of marine animals such as whales and walruses, the United States Congress passed the Marine Mammal Protection Act in 1972. It was later modified in 1981 and a special section (101) of the act was developed to exclude Eskimo Inuit and other aboriginals living in the state of Alaska. Section 101 allowed Alaskan Natives to continue their traditions of hunting marine mammals for food and using parts of such animals as raw materials in the making of clothes, crafts and artwork.

The act makes it illegal for American citizens to import any ivory or whalebone from outside the United States. Therefore, American citizens would not be allowed to purchase any artwork containing ivory or whalebone from Canada and have it brought or shipped back to the United States. However, the act as it stands allows American citizens to purchase similar artwork from Alaska since it is part of the United States. The export of such artwork created from marine mammals from the United States to Canada is not allowed.

Inuit sculpture containing whalebone, walrus or narwal tusks (both considered ivory) are restricted from import and export. However, Inuit sculpture containing caribou antler is allowed since caribou is not a marine mammal and therefore does not fall under this act.

Exporting Inuit sculpture containing whalebone or ivory from Canada to other international destinations will depend on each specific country as each has its own specific regulations. Fines or penalties for importing or exporting illegal items can be very severe.

Fortunately, other forms of Inuit art such as stone or antler carvings and prints are not only able to be exported across the border, but are actually duty free.

Here are just a few ways to increase and diversify your income from your consulting business.

1. Sell More Services to Your Existing Clients

Instead of spending all that time and money trying to get new business, why not try to sell more services to your existing client base?

If you are an accounting and tax consulting firm, for example, you likely have clients who need some assistance in their record keeping and documentation. In addition to your year-end tax services, could you provide monthly bookkeeping and financial statements, accounting system setups, training in accounting software, or other services to assist your client?

Monthly services, in addition to annually billed fees, will help you smooth out your cashflow and minimize the seasonal nature of your business.

2. Mass Market Your Advice by Productizing Your Services

Could you produce a folio, special report, newsletter, e-book, book, audio cassette, video, or course? If so, you could enjoy making money even when you’re not billing for your time. While asleep or on vacation, the sale of your information products could be generating additional income for you.

Sell such products through direct mail, mail order, exporting, and Internet marketing (your own website, your own affiliate programs, eBay auctions, and so on).

As well as the passive, residual income that information products can produce for you, they also help establish your credentials as an expert. This, in turn, produces more consulting opportunities for you.

3. Perform Group Consulting

Seminars, workshops, and teleclasses enable you to help many participants in a cost-effective manner. In addition to paying for admission, your attendees may also purchase some of your information products or even become your regular consulting clients.

4. Consider Additional Markets

Could you sell your consulting services to federal, state, provincial, or municipal governments? Could you be an expert trial witness?

If you consult with local clients, could you extend your reach nationally or internationally by using the telephone and Internet?

These few ideas are a starting point for you to brainstorm all the possibilities for exploding your consulting income.