The FBI’s Internet Crime Complaint Center logged 206,884 Web-based crimes in 2007 alone, resulting in losses estimated at nearly $240 million. While the evolution of more sophisticated online privacy and security solutions has closed many of the loopholes in the Internet’s rapidly evolving communication and transactional gateways, there is no sign that these crimes will abate. Your attention to overseeing the implementation of some specific online privacy and security measures can ensure a greatly-reduced chance of such crimes against your online platform, your business, and your customers.

One particularly alarming risk to the privacy and security of your Website is the theft or malicious use of private data, like business and customer financial and credit card information. You should ensure that sensitive business and customer data is never stored on the Website itself, where it could be extracted if the site is hacked by an unauthorized individual. As the owner of a retail Website, you are responsible for protecting any identifiable information that could lead to the identity theft of a customer’s information. Small business sites are often prime targets for hackers, because they lack an IT department, security officer or strong infrastructure to monitor unscrupulous activity. To guard against this type of intrusion, be sure your Internet customer Solutions Provider (ISP) programs your site to encrypt all sensitive, customer-submitted data. The SSL (secure socket layer) certificate issued for your site will ensure that this security precaution has been taken.

If you intend to transact credit card business on your Website, it is extremely important that the site complies with the Payment Card Industry’s data security standards. The PCI Security Standards Council was formed in 2006 by representatives from the world’s largest credit card companies, and it sets required security standards for all Website businesses that transact major credit card business. The Council provides all the necessary guidelines for your site’s user authentication, firewall and antivirus protection, data encryption, programming maintenance and vulnerability testing. You can obtain a list of PCI-approved Internet Service Providers by contacting VISA’s merchant services department. Your service provider shares responsibility, along with you and your merchant services provider, to PCI-certify your Website, before you can accept and process Internet credit card transactions.

Another threat involves the tremendous amount of malware proliferating on the Web today. Malware, or malicious ware, includes files, codes and content that can attack and infect a computer or server’s programs. There are hundreds of different viruses circulating at any given time, including file and boot sectors infectors, macros, worms, hoaxes, Trojan Horses, spyware, and many others. Malware programs can gain entry to your Website, computer, or server through an e-mail attachment, a single interactive Website visit, an Internet download, or by opening an unsecured e-mail message.  While anti-virus software is recommended to notify you of any infections, there are a few additional actions you take on your own, to avoid the hassle, and potential embarrassment, of a malware infestation on your Website or computer.

First, when preparing to download any file or program, be sure you recognize the site and data you are downloading, before you do it. Do not automatically download virus protection scans or software, just because you received a pop-up message instructing you to do so. Some of today’s most virulent malware is included in some of these downloads. Next, avoid utilizing shareware at all, if possible. This software also often harbors hidden viruses and other malware. Finally, make a habit of never opening unknown e-mails or e-mail attachments, and don’t click on suspicious pop-up windows, for the same reason. Delete these instead of taking a chance of malware-infecting your Website, computer or server.

Customers want to feel safe about disclosing confidential financial information in the course of any online transaction. Website owners that collect private customer information have a responsibility to publish detailed, factual privacy notices wherever data is requested on their sites. A Privacy Notice details exactly how all customer information is collected, as well as how customers can opt out of future communications from your business. Your privacy notice is a legal contract with your customers, and should be stated as a very accurate account of how you protect their personal information.

In addition, consider registering with a privacy certification organization like TRUSTe®, which can guide you in the creation and use of appropriate online customer privacy and security policies.  Businesses that participate in these practices post the privacy organizations’ seals of approval on their Websites, which customers recognize as indicative of the trust they can place in the safety of transactions conducted on these sites.

You can safely conduct an Internet retail business, as long as appropriate safety precautions, like those mentioned in this essay, are always undertaken, to ensure the privacy and security of your Website, your company, and your clients. The best defense against online crime is an educated, enlightened understanding of potential threats, and a solid plan for risk avoidance and prevention. There is no need to endure a Website business learning curve that involves hacking, theft, viruses or the aftermath of other malicious activity. A commitment to integrate many, if not all of the privacy and security measures mentioned here, as well as installation of adequate firewall protection and the Internet payment gateway mentioned earlier, can ensure a smooth, worry-free launch of your retail platform, and ongoing success in the expansion of your small business venture.

Causes of failure

Unfortunately, nothing in life is ever a definite given, and businesses often fail. Entrepreneurs are often cited as examples of people who make bad business managers. It is the process of starting a business from an idea that gets them excited. Often, the mundane execution of routine tasks gets neglected or handled badly. And this lack of understanding amongst entrepreneurs has caused many a failure over the years. Telecoms millionaire Peter Jones for example went bankrupt and lost everything. He slept in his business unit until he devised his comeback plan. He made a relatively common mistake that many businesses make when they start out. In his case he relied too heavily on one supplier. Some firms manage to get away with it for a while, others, like Jones’ didn’t. The point is that the man was not born with a preordained right to become immensely wealthy. He made it, lost it all and learned from his mistakes the hard way. He is a now lot more careful. And a lot more wealthy due to his stubborn perseverance.

Put your situation into perspective

Failure is a relative term. Peter Jones interprets his early business failure as feedback. We could learn much from the likes of Jones. Entrepreneurs should also take some pride in the fact that even if their start-up does fail; at least they attempted to become successful. It isn’t everyone that actually goes out and forms their own business in the hope of improving their life. That fact alone puts them above most of the population in terms of business achievements. No businessman has a blemish-free career. How a person deals with a failure is what truly distinguishes them from their peers, and unfortunately, this is a lesson that can only be learned through experience.

Be brutally honest

‘Dragons Den’ is a wonderful learning resource for the would-be entrepreneur. The ‘Dragons’ dispense so many truths about business reality that investment seekers should really go onto the set with a notebook, ready to write down every word uttered by a group of extremely experienced business people. For in no time at all ‘the Dragons discover and point out any number of reasons why the business ideas put before them will probably fail. And it is the same approach that entrepreneurs should apply to their own businesses and lives with the same brutal honesty. By dissecting exactly what the reasons for the business failure were, without being soft and forgiving, is the only way any hard-learned lessons will be remembered. This is the beginning of progress.  

True entrepreneurs never give up

Once the pain of failure has subsided, and the causes of the business failure have been identified and understood, the entrepreneur has two choices. He or she can accept that the business failed and move on to something they are more comfortable and secure in doing. Or they can hold on to their self belief, knowing that they may have lost the battle, but that they will never, ever surrender in the war. They will regroup (maybe not immediately), examine their mistakes, and start again. This is not a case of repeating mistakes, but of mounting a new strategic attack. Sooner or later victory will be theirs, as long as they never stop learning from their mistakes, eliminating them and pressing on towards their goal.

One of the most effective methods of doing so is taking advantage of the vast resources that the Internet provides access to. It offers an easy way to procure solutions to the situations and challenges that every business encounters be it accounting, sales/marketing, hiring/firing and or operations.

There is nothing profound in reminding ourselves that smart executives plan for the future. Part of that plan should be developing a list of the resources that are available to you. That includes compiling a word document or spreadsheet with the contact information for potential resources such as:

• Chambers of Commerce
• The Federal government’s SBA web site.
• Professional bloggers/experts who write about your field of business.
• Forums that discuss your field.
• Facebook Groups
• Smalll Business Associations within your city.

In addition you should also explore using Twitter. Twitter is an excellent tool for communication that offers a number of options such as a place to ask questions and receive advice. One of the best ways to use it is to seek out experts in various areas and follow their Tweets. Not all of them are going to be relevant, but at only 140 characters it is easy to skim through and will lead to mining many useful nuggets.

For example yesterday numerous people tweeted about the American Express Open Forum for Small Business article called 101 Tips from 50 Small Business Bloggers.

It is a very useful list of practical advice with links to the blogs of those giving it. You may not agree with all that is offered but it is worth sifting through.

And don’t forget that small businesses are the engine that power the economy. The SBA Office of Advocacy offers these statistics in support of that:

Small Firms:

Represent 99.7 percent of all employer firms.
• Employ about half of all private sector employees.
• Pay nearly 45 percent of total U.S. private payroll.
• Have generated 60 to 80 percent of net new jobs annually
over the last decade.
• Create more than half of nonfarm private gross domestic
product (GDP).
• Hire 40 percent of high tech workers (such as scientists,
engineers, and computer workers).

The point of all this is that you are not alone out there. Spend time compiling the list of your resources so that you have them when you need them and it will pay big dividends.

See?

I told you it was simple! But I want to retouch on one thing, and that is the idea of residual income. Anyone can earn a high income by putting in hard work and long hours. But unless you have plenty of time to enjoy your income, you are not truly wealthy.

True wealth comes when you have high income that you do not have to work very long or hard for. This is what residual income is, and it is the foundation of lasting wealth. You will only find residual income in two places: Investments and Businesses you own.

You are familiar with residual income from dividend-paying stocks. The problem is that the residual income from stocks is very low. You might have to buy $100,000.00 worth of stocks just to earn a residual income of $1,000 a month. That’s pretty pitiful.

With your own business, on the other hand, you can earn many times that amount with a very small investment, provided you know how to sell.

During a recent interview with Linda Hollander, The Wealthy Bag Lady, I asked her to share five tips for things that individuals can do to thrive in tough times. The Wealthy Bag Lady is qualified to answer this question because she started what turned out to be a successful company during a recession.

Hollander is in great company – Microsoft, Hilton Hotels, FedEx, IHOP, GE, CNN, MTV Networks, and Burger King are a few of the companies that started in tough times. To thrive when the economy is in a tailspin, she suggests doing the following:

1.     Be creative

2.     Run a lean and mean operation

3.     Concentrate on sales and marketing

4.     Have an advisory team

5.     Practice lifelong learning

Be creative: During tough times you cannot operate as if it is business as usual. Look at ways you can be more effective and efficient by doing things differently. Find services that you can trade services with. When Hollander wanted to start Small Business Expo for Women, she did not have the funds, so she decided to get sponsors instead. Onlookers were surprised that a small business could secure large businesses as sponsors, especially during a recession. Necessity is indeed the mother of invention.

Run a lean and mean operation: Look at areas in which you can save and cut costs. Do as many things that you can by yourself so that you do not have to pay to get them done. One of the things that Hollander did to say money was buy used furniture instead of investing in new ones.

Concentrate on sales and marketing: It does not matter what type of business you operate, you are in the sales and marketing business, so it is imperative that you learn how to market and sell yourself effectively.

Have an advisory team: Have a group of people, who are further along the path you are traveling, who you can call on. Always ask for help and never go it alone because no one succeeds alone. Your advisory group should consist of individuals who will assist you in holding fast to your vision. These people make up your Board of Mentors, so surround yourself with mentors that you can learn from, and who are willing to share their knowledge and wisdom.

Practice lifelong learning: School is always in session, so take the time to improve your skill set. Assess yourself to determine your strengths and weaknesses. Build yourself up where you are the weakest. The natural order of life dictates that the economy will rebound so invest in yourself and your future. This puts you in a stronger position than most to reap rewards.

Though you should be creative, run a lean and mean operation, focus on sales and marketing, have an advisory team and practice continuous learning all the time, doing these five activities during a downturn in the economy will enable you to weather the storm and even thrive.

Material

A good quality paper stock is the first step to a good custom folder design. Along with the paper stock is the option for a glossy finish or no finish. Using an attractive, high quality full color custom folder is the way to go. A heavier stock will yield a longer lasting folder that will continue to be used and viewed by customers.

Layout

Layout and color of your folders can also be customized. Color choices should match your business colors and the identity package your company already has in place. Often, you can choose to have full color on front and back, or the front alone, although all over color makes the best impression. The standard size for custom folders is 9” x 12” with custom sizes usually available.

Format

Ordering them from an online printing company is a simple process with the use of their easy to use quote to purchase process. Most printers of custom folders offer two inside pockets that are four inches deep with optional one, two, or no slots for business cards.  Business card slots are a fabulous benefit and allow custom folders printed with the company logo, etc, to be further customized by the representative distributing them simply by inserting their business card in the slots.

Information

It is a good idea to conclude your custom folders with some company contact info on the back cover. Just a smaller version of the logo along with the website address, phone and fax number, an email address, etc.
 

Prior to the typhoon-like effects of this current recession, entrepreneurs in the UK followed the age-old path of developing a business idea, comparing the risks to the potential rewards and then deciding whether or not to start up a new business. In every venture the single most important hurdle to overcome is convincing financial backers of some kind to invest in, or lend money to the budding entrepreneur to start his venture with. Cash really is king just ask any bank that didn’t have any.

To start with, the UK is a lot more risk-averse in business to the United States for example. So the British entrepreneur is already facing an uphill battle to raise start-up capital for his or her venture. Then, suppose they are successful at raising funds early stage businesses almost always need financial support of some kind for the first few years, until the business starts to make a profit. Cash has to be there to allow the business to function, and there usually isn’t enough of it in the early years. This cash could be in the form of bank overdrafts, loans or credit accounts from key suppliers. And this is the way that small start-ups have grown into sustainable businesses.

However, this recession has changed the way people do business with each other. Small businesses in particular have been badly hurt due to the amount of goodwill and understanding that their size necessitates they rely on. As soon as the banks were forced to admit they were in trouble they started to call in any outstanding loans from suppliers, as well as shortening their length of credit terms to the same suppliers. These businesses often had previously agreed terms of 90 days credit cut to 30 days, or even zero. This forced suppliers to do the same to their customers. New start-ups were now in the position of not having any stock to sell until they had obtained more cash to clear their accounts with. If no credit could be obtained to do this with big problems soon ensued. Goodwill and understanding were withdrawn overnight.

And so on it has gone over the last two years Woolworths, MFI, Zavvi, and dozens of other well known retailers have all crumbled. And contrary to certain reports fed into the media by government sources, there is pretty much no chance of a start-up business being able to raise capital along traditional routes. Can you imagine what this does to the psyche of UK entrepreneurs? If it was hard to start a successful business in the UK before the recession, what viable chance is there of surviving more than two or three years in today’s climate? And that is if sufficient capital can be raised in the first place. The risk-to-reward ratio is simply far too skewed towards failure to make entrepreneurship a viable career option for the vast majority of perfectly capable people.

Aside from the mechanics of the whole process of starting and running a new business needing to be updated, it is going to take a huge sustained effort involving real tangible initiatives that can be seen to support UK entrepreneurs for entrepreneurship to really take off in the UK. There is plenty of media spin from the government, but real help is still only going to financial institutes and other massive conglomerates that should really already be self-sufficient. Until enterprise is seen as a tool to combat growing unemployment, entrepreneurial opportunities for your average citizen in the UK will carry on being destroyed before they are built.

In short a person who is starting out with a new company he should do some research first and see what the likelihood is that he is going to get funding. With tough economic times and a slower recovery for industries that culturally oriented as opposed to the building sector where there has been a pick up in sales, the person should judge what kind of company he would want to open up that is going to get more assistance.

 Also having a good credit rating helps should he have to go to the bank for a start-up loan. The bank is going to go through his past accounts to see if he has been able to pay up old loans and cover old debts. Otherwise it will be harder to get the bank’s support.

Getting money does not only mean looking for gift money or a loan it should also mean the person will cut down on expenses.One should also think about how to reduce start up costs such as eliminating unnecessary job posts or working from the home where utility expenses can be deducted as a working expense.

Any endeavor that seeks to break into a market and develop it, either through a product / service should take into account, inter alia, the following steps:

Competitive Advantage and distinctive: the entrepreneur needs to determine what is their real competitive advantage and distinctive (ie, what the entrepreneur does better than its competitors, which increases your chances of success). If I go to enter the market to do something that anyone can do, then I have nothing to differentiate me and therefore my chances of survival decrease operating business, as any actor (existing or new) can get lost or move a portion market rapidly declining sales volumes and margins with the risk of removing the profitability of my business.

If you find an opportunity in which my company add value or create a distinctive product / service existing and / or market, then is the time when I am faced with a concrete opportunity.

It’s good not to be confused at this point willing to undertake the project ( “illusion”) with possibilities that it is something I really value the market and this will result in a profitable business.

Market analysis: it is necessary that the entrepreneur has a complete and integrated vision of the business, from knowing and understanding the market, knowing how the industry and have a level of learning about the industry and the project, analyzing in detail the actors involved in the business (customers, suppliers, competitors, substitutes and potential competitors that could be integrated in the business), as well as identify the key points of the business (ie, “through which the business”).

Notwithstanding, the entrepreneur should not neglect the possibility of market research that he may have finished a detailed market development potential, as well as how the competition works, identifying their strengths and weaknesses (Strengths and weaknesses).

In many cases it is desirable for the entrepreneur, in order to have a clearer view of the market, as well as the strengths and weaknesses of each competitor, put on his shoulders as the customer to visit each prospective competitor, so put in place and perform all the questions that you would get an excellent service. In this way, the entrepreneur knows, “in the flesh”, how the customer is served and satisfied.

Competitive Strategy: Identify the competitive advantages with which the entrepreneur has developed and Porter matrix, outlining the procedure to be adopted a competitive strategy. This means defining the path provided by the company to achieve profitability and retention operations for the long term. In this sense, Porter has identified that one can not have the best product and that may be the cheapest. The entrepreneur must decide if their decision is to compete on price or quality competition (differentiation). Moreover, in the case of entrepreneurs, which are by definition small-Porter suggests that organizations should develop strategies niche. Ie target markets of small magnitude than the interest of big business. Within this niche strategy, the entrepreneur may also be distinguished by price or quality, never both.

Perception (about the product / service) should be clear that the distinction should not only be perceived by the entrepreneur, but also by the consumer (or market). If this does not happen, then perhaps there is no possibilities of making the enterprise.

Financial: It is very common that the entrepreneurial forays into business without having a clear and detailed economic and financial analysis of your project.

The term “Economic” means as regards solvency and business results (difference between assets and liabilities), while the “Financial” has to do with liquidity (availability of funds, Current Assets less Current Liabilities).

It is from this point, where it should be emphasized that it is so important to have the business opportunity as well as quantify the outcome is going to provide (either gain or loss), what will be the working capital needed and how I to deal with it.

Not surprisingly, that a business is profitable (the “profits”) but that is financially feasible (eg when the timing of cash receipts are greater than the fee on sales of products with high turnover). Thus, both a state-indicating results of the solvency position of the enterprise (which sets the Sales – Variable Costs – Fixed Costs – Taxes for a given period of time, obtaining profits or loss-of-period) as a Cash Flow or Cash Flow, which indicates the liquidity position (where the projected revenues and expenditures of funds in each period, which allows to identify and anticipate times of surpluses or shortages of funds) are necessary tools for discuss the project prior to its release.

Marketing: here is worth taking into account the basic concept of marketing, as originally defined by Philip Kotler: “Marketing is the social and managerial function aimed at increasing shareholder value in a company through meeting the needs and desires of the target, increased by their perception of customer value of products offered. ”

This brief definition is derived as follows:

Needs or desires (one may need to drink water in the desert and sometimes you may want to take champagne)

Target: I can not supply the entire market, which must be segmented after which the enterprise which will define the target segment (target-positioning)

Perceived Value: Related to what the client is willing to pay for a product (perhaps a clock Tressa is very good, but of course the public is willing to pay much more for a Rolex, which was perceived as much more valuable )

The entrepreneur must, according to the type of product / service offering, which is the market segment you are trying to reach and there will emerge the product specifications. That is why marketing works together sobe “4 Ps”: Product, Price, Place (where available) and the Promotion (as will be known to the public). And within the Promotion item, we can identify these 4 channels (the Promotion Marketing Mix): Advertising, direct sales, sales promotion and public relations.

It is important that the strategy regarding the marketing channel (where the product is offered) match your price and valuation, which is the product for the consumer. That is, I can not give an economic product in a premium channel. To this is added to the product design (packaging + specifications), and promotion to make it, too, should be in line with the price and channel marketing.

Once the entrepreneur made Analysis is essential to determine what will be the segment where the activity will focus on the product / service.

Finally, when it reached this point, where the entrepreneur has the opportunity to transform an equation of value, defining the strategy of market entry and develop the business plan of the enterprise.

A Necessary Evil

Organization is not a fun thing to do, but it is necessary to keep your business ship running smoothly. Some view it as grunt work – shuffling papers, creating databases, setting up calendars. It is all the reason why some businesses fail while others succeed.

When business is riding high, there is very little time to attend to the organization of things. You say that you will get to it, but never do. There are simply not enough hours in the day. So, you manage with the organizational structure (or the lack thereof) that you have until you can do better.

Even if you aren’t organized now and are going through a high in your business and can’t find the time to get that way, don’t give up. You can still put your business in tip top shape. Here’s one way. Periods of slow sales are the perfect time to get a workable organization going within your business. Think of it this way: You can find several ways to save and make money through this process. So, instead of feeling sorry for yourself or fretting about the drop in sales, get up and get moving.

Maintaining a positive attitude helps you to see this time in your business career as an opportunity. People are more cautious about buying. If they buy, there needs to be a compelling argument behind the product. Getting all your ducks in a row, so to speak, can help you meet that need.

Find the Hidden Money

Businesses often find a black hole in the area of supplies and man hours. This is because of a lack of streamlining business processes. If five people are doing one process, then you are paying four for nothing. Find ways to revamp the flow of your business so that your staff can be better utilized. Who says that each person has to do only one job?

An employee with multiple skills has job security. They can function in several areas in a pinch. That is saving you money.

You will save on paper products when you turn over many of the day-to-day tasks to software programs. Calendars on your computer keep you current with projects. Sharing them through programs like Google Docs, gives the right people access to them so they can do their jobs accordingly.

How about time tracking? Using time tracking software can show you where you are losing money on projects. This gives you the opportunity to examine the why behind it.

Hire a virtual assistant. If you are an army of one, it is hard to tend to the marketing tasks and the office duties all at once. Plain and simple, you’ll never catch up and you’re losing money. A virtual assistant will only bill for hours worked (not time at the water cooler) and you get to spend more time making money instead of losing it.

Organization is important to any business. When you have slow periods stay positive and proactive by streamlining your business for greater success.