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An assistant who takes an entrepreneurial interest in the business and contributes to its growth in addition to its maintenance should be rewarded accordingly. TAX CONSEQUENCES Be sure to get professional advice before you start your arrangement with your assistant. That means using your time on projects that are going to increase the income of your business by more than the cost of splitting your profits. WHO TO CHOOSE FOR YOUR ASSISTANT Now, who should you choose for your assistant? And, from my business's point of view, because my mother works for the business, the airfares the business pays for will be tax-deductible as our visits will be, at least in part, business-related. So, give some thought to your particular circumstances and think laterally. Growing the business is your job. That's what's meant by working 'on' the business rather than 'in' the business. Consider the following: => Processing Subscribe/Unsubscribe Requests If you publish an ezine, then you know what an administrative headache it can be processing all those subscribe and unsubscribe requests even with the aid of automating software. Despite your best efforts, and clear instructions in your ezine, there are always at least a dozen people who can't seem to figure out how to unsubscribe themselves and send you a mes Article: If there's one immutable fact of life when it comes to this business, it's that there's so much to do but so little time to do it all in. At some point upwards of the one year mark, if you've been even moderately successful in your online business, you'll find you've reached the limit of what you can do with the time you have available. At that point you have a choice: to deliberately retard the growth of your stock company to maintain the status quo, or take on farther resources to help you cope with a allegiance that continues to grow what bodes the capacities of just one person. That's just the surpassing I was faced with when I returned to the full-time workforce last month by and by running my online business on a full-time aetiology for two months. I realized almost immediately that if I kept on the way I was, my business wasn't going to go any further. It was taking all my time to deal with the directing side of the business and that left none for the really important business- development activity that kept getting pushed to the back-burner until I magically found the time to get to them. In this article, we look at getting help when you need it. And no, I'm not talking all round going out and hiring a wage-earning full-time employee or even a part-time employee for that matter although that, of course, is one option open to you. Instead, with a little bit of lateral thinking you may well find you can get the help you need for very little (if any) up-front cash outlay. COMPENSATING YOUR ASSISTANT Because (I assume) you're still running your business on a shoestring, you can't amount to to pay someone a wage in breakthrough of generating contributory income. This means that whoever you be desirous of needs to be someone who's prepared to work for a percentage of the profits of the speciality rather than a wage. For this reason, the person you nice will most likely be shut the door to you ... a family member, spouse or very correct friend. As for the proportion of profits that you pay to your assistant, this is up to you and your professor emeritus to negotiate and will depend on several factors including the types of tasks your assistant performs, the time they have unoccupied to work (and actually do work) and the overall contribution they make to the business. An lecturer who takes an entrepreneurial interest in the restraint of trade and contributes to its growth in splay to its maintenance should be rewarded accordingly. TAX CONSEQUENCES Be sure to get professional monition theretofore you start your arrangement with your assistant. You need to think about tax and other issues such as whether your profit-sharing arrangement might create a partnership rather than an employer-employee relationship (this may or may not be something you want). Also, insolent you're not intending to create a partnership relationship with your assistant, think about whether you want an employer-employee relationship or whether you prefer your best man to be an independent contractor. There are tax consequences for each of the above scenarios so be sure to talk to your chamberlain about your options. CONVERTING TIME INTO INCOME It should be self-evident that you are going to have to convert the time you free up with the help of your assistant into income. In other words, if your operation doesn't generate any more income as a result of you taking on an assistant, by the time you split your profits, you're going to be behind. So it's crucial that you take the time you save and spend it wisely. That means using your time on projects that are going to increase the income of your obligation by more than the cost of splitting your profits. WHO TO decide FOR YOUR ASSISTANT Now, who should you lust for your assistant? To start with, consider who in your immediate ascend has both the time and the craftsmanship to help you in your business. It could be a spouse, teenage son or daughter, parent, next door neighbor, brother or sister, gathering friend or colleague. In my case, my first top for an helpmate was my computer-savvy mother but, for she is retired and on a pension, she can't earn an income without jeopardizing her retirement income. I therefore didn't consider her as a real possibility. I then considered one of my sisters but, because of technical problems (she didn't have a suitable computer and wasn't in a position to get one quickly) that wasn't going to work either. Then my other sister, not computer- savvy but obviously a lateral thinker, suggested that, instead of paying my mother her share of the profits in cash which would have jeopardized her pension, why not pay her in airline tickets from Australia to the US? as long as I have recently relocated from Australia to the US, this was a perfect solution in that it was expenditure my parents would have incurred anyway. And, from my business's point of view, in that my mother works for the business, the airfares the cartel pays for will be tax-deductible as our visits will be, at least in part, business-related. So, give some thought to your particular circumstances and think laterally. Perhaps you have a teenage son or daughter who is good with computers and is looking for a way to earn more income. Not only does appointing them as your servant bring to fruition this goal, it also gives your child crucial experience working in the ecommerce field and that sure can't hurt! Perhaps you have a in a cloud friend who is a single mother and is looking for at-home ways to supplement her part-time income. Perhaps a sibling is in a similar position. You get the idea. I imagine that most people know at least one person that they could strike such an fashioning with. TASKS TO DELEGATE OK, so you've lined up your assistant. Let's turn now to the kinds of things you can delegate to him/her. As a general rule, you want to delegate those tasks that are routine, repetitive and which maintain (rather than grow) your business. Growing the truck is your job. That's what's meant by working 'on' the point rather than 'in' the business. Consider the following: => Processing Subscribe/Unsubscribe Requests If you publish an ezine, then you know what an administrative headache it can be processing all those subscribe and unsubscribe requests even with the aid of automating software. Despite your best efforts, and win instructions in your ezine, there are the world over at least a dozen people who can't seem to figure out how to unsubscribe themselves and send you a message demand you to do it for them. Then there are those who write requisition to be more to your ezine list now they've been referred by a friend and don't have your subscribe URL. So you add them manually too. Then there are those who want to unsubscribe but keep trying to do so using an email address other than the one they signed up with. They send abusive emails to you when, for some mysterious reason they keep getting your ezine. They, of course, think you're so desperate for subscribers that you have set up your devious systems so that once they're subscribed they're on your list forever. Annoying as this is for ezine publishers, the real problem is the time it eats up dealing with this stuff. So delegate this task to your assistant. => Processing publication Orders Another routine task that can be delegated to your assistant is the processing of orders in your ezine. Set up your systems so that all orders go straight to your assistant (with a copy to you so you're in the loop) who then schedules the ad, confirms the tabulation with the advertiser and then formats the ad ready for the next issue. => Sending Your Ezine Actually sending your ezine to your list is something that you can delegate to your assistant, too. Just email your ezine to your subordinate when you've finished it for sending to your list. You may even leave your inferior to insert the classified ads. => Submitting Your Articles Another routine task that your hired hand can take care of is article submissions. I have a list of arraign submission services that I submit my articles to on a weekly basis, as well as a handful of publishers who have specifically requested to receive them. My sends for each article in line with it is written (they're all fallow on autoresponder) and submits it to the holograph submission sites/lists I specify. A longer-term project is to seek out, on a regular basis, new gimmick submission points. That, also, I have delegated. => Submitting Your Ezine Similarly, I have delegated the task of submitting my ezine to the various ezine promotional material services that are steadily springing up all over the place. => Negotiating Ad Swaps If you're an ezine publisher, you know that receiving ad swap proposals from fellow publishers is a frequent occurrence. Delegate the negotiation of these swaps to your assistant. => Web Site Updating Depending on how computer-savvy your helpmate is, they may also be able to take on some simple web site updating for you. We're not talking apropos major design changes here, just making routine updates to add your latest ezine, dissertation or promotion information, that sort of thing. ~*~*~*~*~*~ By delegating these routine political tasks and any others that may wish to your particular business, you will save yourself several hours of work every week. Don't squander this time! Now you have the time you need to overhaul your site, write the next month's articles for your ezine, investigate and respond to the half dozen joint venture proposals you've received this week, create that ebook you've been meaning to get nigh to writing and, most importantly, *promoting your business*! As stated earlier, you MUST convert your newfound time into dollars. If not, your commercial is just going fro ... the very circumstance you sought to pull back when hiring your assistant.
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Advice Home Business Technology Online Advertising Motivational Internet Marketing SEO Help Online Games Science Articles Happiness More Articles:1. The Wholesale Misconception Summary:'The Wholesale Misconception'One thing that's constantly misunderstood by people trying to run a home business on the Internet is the word 'Wholesale'.Some people think that working with a real wholesale supplier means that they will magically be able to sell products for less than anybody else on the planet, for ever and ever. The sky is falling, and it's time to get Duke to the storm cellar because all their dreams are being blown away … 2. Can You Sell a Service on eBay? Summary: I also include a photo of myself - making it personal. What I am really doing with this auction is selling myself. I would start the auction at a minimum hourly rate, and probably have a Buy it Now hourly rate too. I know of a guy who lives in Germany and offered English language services on eBay.de. Article:Most people think of eBay as a place where you sell physical items. They often start by selling unwanted bits and pieces from the a… Credit Card Offers Flower Delivery Toronto 3. Do You Really Want To Try Network Marketing? Summary:Make no mistake it takes a unique skill set to become a successful network marketer. What network marketing does give you is the freedom to be self reliant on your individual drive and determination and not the efforts of others in the early stages of your development into a successful network marketer. The successful network marketer embraces new technology and uses it to propel his or her business to new heights and earning potentials.F… 4. Home Office Essentials Part One Summary: Do you evenhave space for an office at home?The purpose of the following two articles is not to give you a blow-by-blow plan of how to set up your home office but more to give you tips and advice that'll save you time, heartbreak and money. It is absolutely essential that you have a good office chair.Many new home business owners make the critical mistake of using a kitchen, spare household or even a garden chair for their home office. P… |