Showing posts with label shopping. Show all posts
Showing posts with label shopping. Show all posts

In Direct Sales: 5 Tips to Save on Your Taxes

As a business owner, at least here in the United States, Ben Franklin reminds us that there is at least one certainty in life: taxes. As a direct seller, you may have opted to build a small "side gig" to earn a little extra operating funds for trips, to give your family a little "more" or just to fund your shoe shopping habit.

Ultimately, though, if you're producing revenue, you've got a business, and Uncle Sam wants his due. Even if you're not profiting from your direct sales business, there may be some taxable situations that will effect you.

Mind you, I'm not a tax professional, but my friend, Scott Lovingood is, and he shared some great tips on his call  for the Small Biz Super Summit this Spring. While the deadline for filing your taxes for 2010 may have passed, now is a great time to consider ways to get your finances in tip top shape this year.

1. Keep good records. Even if you put all your receipts in a shoe box, at the end of the year, you're going to need to refer to them to prepare your taxes. The better records you keep, the easier it is to complete your taxes and defend yourself should an audit occur. One particular area that Direct Sales Pros tend to overlook is mileage. Keep a mileage log so that you can track all the miles you drive to and from your shows. It adds up over the course of a year, but if you don't keep track, you can't claim the deduction! At 50 cents a mile, every two miles you drive is a dollar back in your pocket come tax time!
2. Be aware of special deductions. Certain entities (like an LLC, for example) can alter your taxable benefits. Home based businesses have special deductions. Knowing this can save you thousands on your taxes.
3. Tax rules change all the time. One of the first tasks to outsource may very well be your bookkeeping. Tax pros spend all day every day staying on top of the tax code changes. They can take that responsibility off your plate so you can focus on making money.
4. Run your business as if the IRS were going to audit you at any time. Chances for an audit are small, if you fall within the "norms" the IRS uses to evaluate businesses. However, a business can be randomly selected for an audit at any time. If you're running a real business, keeping business and personal expenses separate is just one way to help the IRS see your business as a going concern. Setting up a business account, having a business phone (that's only used for business) are not only potential deductions, they help the IRS to see that you're serious about growing a real business, not just having an expensive hobby. Hobby income must be reported, but hobby expenses are NOT deductible.
5. Close your books at least quarterly, if not monthly. By balancing your books each month, you have a better look at cash flow projections, income and expenses BEFORE the end of the year. If you have a major influx of income, you might even be required to pay quarterly taxes. If you are not balancing your books each month, you should at least balance them every quarter (most businesses do). You may avoid some of the tax penalties that can occur if you don't pay those taxes on time.

Running a business from home means a lot of potential tax savings - trips to fun locations for your national conference could become deductible on your taxes at year end - but only if you're running a business and keeping good records (other rules may also apply). It is up to you as the business owner to keep track of everything. Start now (if you haven't already) to see success the next time your taxes are due. When in doubt, consult a tax professional to help you get the most out of the tax benefits a home business provides.

© 2010 Lisa Robbin Young.

==========
USE THIS ARTICLE FOR FREE IN PRINT OR ONLINE!
Please do not alter it and include the following information (with active links as appropriate):
Lisa Robbin Young is a certified direct sales marketing coach, teaching direct sellers to grow their business like a real business instead of an expensive hobby. Sign up for her free weekly ezine athttp://www.homepartysolution.com/

The BIG Unveiling: What The Heck IS Going ON?

Let's piece the clues together:

I'm closing the doors to something at the end of February (or sooner).
I've gotten very clear on who I want to help and where I want my business to go.
I'm not just addressing the Direct Sales industry.
I'm focusing on working with Christian business women.
I'm giving something away for free.
I'm also creating something even better.
I'm doing it in a BIG way.
There's going to be some VIDEO involved.
And I keep mentioning my "Build a Better Customer" Program

Can you stand it any longer? Okay, here's the BIG news:
Say goodbye to Home Party Solution as you know it. That ship has sailed.

Or it will come the end of February (or when all the current copies are sold out).

Yep. I told you people would think I'm nuts.
More on that in a minute.

What am I giving away? The entire updated curriculum for the Build a Better Customer program. In full - with nothing left out.

See, during the pilot program, I was hesitant to share a lot of what made this program really tick for me. Quite honestly, my faith and belief in God really drives my success, and it's at the core of this program.

I felt like I had to water it down tremendously in order to create "mass appeal" for the product.

But in my coaching sessions, my clients were actually appreciative of the references to God and faith, when I was feeling so apologetic about it. It became clear to me that THIS was the way GOD wanted me to operate. Not from some shady, half-veiled product creation.

And someone once said that knowledge should be free. I agree to a point. I believe that basic constructs designed to improve our human existence shouldn't have a pricetag. I also believe that my hard work and creativity should be rewarded/compensated appropriately.

So after offering up this project in prayer, I've decided that the beginning of my "crack addiction' will be to GIVE the content in my Build a Better Customer Program away. I'm still working out the details, but rest assured, this program will be a fantastic tool in your business building arsenal. I've already charged hundreds for this content, and I feel confident that it's worth ten times what others have paid for it - especially now that I'm dding in all the components, like my P.E.A.C.E. process that brings even more clarity to the method.

Yep, I know. My husband thinks I'm mentally ill, too.
But I say I'm crazy like a fox.

See, when you've gone through this system, you'll feel so empowered, so motivated, and so ready to do what comes next, you'll KNOW what you need to do. And I'll be there to provide you with teh step-by-step coaching to take your business to the next level.

I will, in short, have created my 'crack addiction'.

Yeah, but what about Home Party Solution? Before you stand there, staring at the door, I want you to know that it's not gone forever - it will be making a comeback - but in a completely reborn format.

More comprehensive, more informative, and so much EASIER to follow. This will be a multimedia experience like you've never seen before in the direct sales industry. But it will come at a MUCH bigger price tag.

Yep, there I go, raising prices when everyone else is lowering them. I really am insane, huh?

Not really.

See, I can't afford to keep cranking out the same old stuff that everyone else is churning out on a monthly basis. You're too savvy for that. If you're like me, you're tired of seeing the same stuff, repackaged with a shiny new label.

About every six months, I've released an updated version of Home Party Solution, incorporating the latest information and strategies for using online marketing to grow your business. And each time I do, I raise the price. Because I'm adding more content and more knowledge. I'm shortening your learning curve immensely.

And I think that's worth a few pennies in the bucket.
But the one thing I kept hearing over and over was that people wanted to see some video, hear some audio, make it a little more interactive.

Your wish is my command.

So I'll be spending the next couple of months totally revising, revamping and suping up the engine that is Home Party Solution. In the end, the finished product will actually be TWO products: A solution specifically for Direct Sales consultants, and another solution targeted to small business owners in general.

So much of what I teach crosses over, and I've seen my subscriber base expand from just home party consultants to a wider array of work from home, small business entrpreneurs.

It will be concise, powerful, portable and interactive. And we're going to cover more than just the basics. You won't BELIEVE what you're going to be experiencing. And I can't wait to share it with you.

In the meantime, you best pick up your copy of Home Party Solution before it becomes a collector's item. Once that happens, people could be selling it on ebay for a few hundred bucks.

Don't laugh! I've seen it happen before!

When they're gone, we're closing the doors. And I promise you it'll be at LEAST March before the new version is ready - possibly even April or May. I'm not going to do this thing half way. If you want the insider tips and secrets I've been sharing with my clients for the past year, now's the time to get on the bandwagon before every last copy is sold out.

Yes, the PM2 Mastermind group will still be available, and if you get the complete Home Party Solution package now, you can lock in the lowest PM2 rate now.

Don't stand there staring at the door at the end of February. Jump through the window now while there's still time!

It looks like Lauren is our big winner, although I got a few emails asking all kinds of questions in addition to the posts on the blog. I think you got all the big elements of the announcement: closing Home Party Solution, giving away BBC. email me, girlie, and I'll get your content out to you.
Congrats!

Make it Black Friday EVERY Day

Well, it's official. According to a post at CNN.com:
"The National Bureau of Economic Research said Monday that the U.S. has been in a recession since December 2007, making official what most Americans have already believed about the state of the economy."

And yet, despite the horror stories and deep discounts, retail sales were still up 3% over last year on Black Friday.

Where's the disconnect? And how can we apply that to Real Life Marketing?

The day after Thanksgiving in the US signals the beginning of the end - the mad shopping frenzy that beats a path to Christmas Day and leaves a trail of exhausted shoppers in it's wake.

For most Home Party consultants, however, the holiday season is quickly winding down, and many consultants find themselves in a slump from around December 9 through the end of the year. In fact, many consultants - and some companies - close their doors for the last two weeks of the year - despite the potential for additional sales, parties and possible recruits.


Black Friday shouldn't be a one-day-of-the-year occurrence. Retailers pin their profit dreams on the single biggest shopping day of the year - and many find their dreams dashed on the rocks if sales aren't all they imagined.


What can you do to make your sales cycles more consistent? What can you do to make every day Black Friday - that is, more profitable?

Diversify. Don't pin all your hopes on one show on your calendar - or one month (or day) of the year. Every day that you have a show, your office is "open for business".

Consistency. Touch your business regularly. Have business hours - even if it's only one hour a day. People like consistency and prefer to do business with you when they know what to expect.

Over-deliver. Rather than slash your prices to the absolute rock-bottom - or create a loss leader for yourself to pull in more sales, consider adding more value to your customer's purchase. Perhaps free training on the proper use of a product, or a special recipe, or hand-written thank-you note. Not a coupon. Coupons are NOT value added. Coupons imply that the customer must spend money with you AGAIN in order to get the benefit. Give value, get loyalty.

Consistency. Say you're going to do something. Do it. Then do it again, just like you said you would.

Accept nothing less than the best for your clients. Notice that many of the companies going out of business over the 2008 holiday are the low-price competitor. Price is a minor consideration in the customers eye. If the value of the offer is 10-100 times greater than the cost of the investment, the customer will buy.

Consistency. There's nothing like getting what you expect time and time again. McDonald's is McDonald's is Mcdonald's. You've seen one, you've seen 'em all. Just like Krispy Kreme.

Reward your best customers. Give repeat buyers an additional incentive to continue shopping with you. It is far easier to keep a client than it is to gain new ones. Invest some of your advertising budget in client retention.

Consistency. It may be redundant, but it's important to be consistent in your business.

Serve ALL your markets. Do you have clients that prefer to shop online or in person? Don't ignore them. Use direct response mail and email to reach out to your customers in the way they want to be reached.

Consistency. Need I say more?

Building a profitable home party / network marketing business is a bit like dollar-cost averaging. If you do the same amount of work every day, over time you'll see a greater return on your investment. Some days may be up, and others down, but if you're consistent in building your business the RIGHT way, you'll be ahead of the curve at the end of the year, and every day can be Black Friday.

© 2008 Lisa Robbin Young. All Rights Reserved.
==========
WANT TO USE THIS ARTICLE IN YOUR EZINE OR WEB SITE?
I'd be honored - so long as you include this complete blurb with it: Lisa Robbin Young is Editor and Founder of "PartyOn!", a free newsletter for party plan professionals. A personal branding coach, Lisa is on a mission to educate consultants on big business ideas they can apply to their small business enterprise for stellar success. Get your free tips at http://www.homepartysolution.com.

Ali Magazine: Inconsistent Messaging

I've been an Ali Brown afficionado for a few years. Her rise to nearly celebrity status as the darling of Internet Marketing, more commonly known as "the Ezine Queen", has been almost metoric in nature. In fact, during a teleclass this summer, she credited the law of attraction and the power of manifestation for her quantum leaps in business over the past few years.

So when I heard tell of a new magazine that was on the way, I was very nearly salivating. My mind traversed the possibilities: powerful interviews and articles on business building and attraction principles. Profiles on Ali disciples that had made good and gone "big time" with their business. Even the possibility of some lifestyle and travel tips. The horoscopes...

... Wait? huh? HOROSCOPES?

You heard me.

In my perfectly blunt style, I wrote my letter of disbelief to Ali. She of course did not reply (she's far too busy for that these days) but one of her assistants did.

"Thanks Lisa - We appreciate your feedback. The reason why we included a horoscope section is because horoscopes are FUN! People like them, Ali likes them. It's good to have fun with your business and enjoy it. :)"

Well, I don't dispute that FUN should be a part of your business. Countless pages in Ali's new magazine outlined style, fashion and travel ideas. And I even appreciated the tip sheet articles and guest spot on Heidi Klum. heck, I'll even give her props for the layout of "behnd the scenes" pictures from her cover shoot. That's fun stuff!

But Horoscopes, to me, seem to go completely against everything Ali spoke about during the summer teleclass on Manifestation with David Neagle. In a class all about setting your sights on a goal, learning the right way to goal set, and how to attain those goals through attraction, putting your "faith in the stars" just seems incongruent at best and insulting at worst.

To say "people like them, Ali likes them" is a means of justification without addressing the issue of congruence.

It draws to mind those old Venn diagrams from logic class.

If people like horoscopes, and Ali likes horoscopes, then Ali is people, too.

...Talk about lowest common denominator.

Don't get me wrong. I still like Ali's work, and she has some valuable content that has taken my business in a new direction, but to lower the qualty of the content to appeal to "the masses" is a bit heartbreaking.

A good magazine - a FUN magazine - doesn't need tawdry little, mind numbing horoscopes.

Ben Stein and High Heels: Evolution's Intelligent Design

First, on the surface, this may not appear to be a marketing related post. Sue me. IF you dig a little deeper, you might just change your mind.

Second, this is a LONG post, because it deals with evolution, Ben Stein, and me, learning how to walk in high heels. All of those are complex issues, and take more than a few words to illustrate.

Here we go...

This past Saturday, I was treated to a Division sales rally for one of the direct sales companies I work with. I gave a short talk on the importance of your 60 second commercial (aka your elevator speech) and received positive comments all around. I'm preparing for my first ever training "tour" and this was a small practice step for me.

At the end of the afternoon, I was to go shoe-shopping for a nice, "power shoe" as my friend Ruth calls them.

I ended up learning how to walk.

I know, I'm 33 and walking should have been one of those early mastery lessons, but I've never in my life worn a show that stands higher than 2 inches. Ruth and her daughter put me in 4 inch heels. We must have tried on 20 pairs of shoes by the end of the day. I settled on a nice pair of patent leather shoes and a fun pair of wedges. Before Saturday, I wouldn't have known a wedge from a slingback or a mule, so this was my first lesson in being "more girly" in a businesslike way.

The second, was learning to walk. My normal gate is wide, manly, and I lead from my shoulders, giving me an almost slouchy appearance. And I walk FAST.

Not in 4 inch heels, that's for sure.
I was tripping over my own two feet, falling out of shoes, feeling pinched, poked and clutzy in more ways than I can count. I was so afraid of how ridiculous I must have looked, but my friends were very supportive.

And I evolved. By the end of the evening, I was walking with my head more upright, more slowly, with more purpose and power in my step.

I was even kind of graceful by the time it was all said and done. It was humbling to think that as a grown adult, I needed to re-learn what seemed to me to be a basic skill. In heels, walking is not just a skill, it's an art. It takes balance, timing, and poise. Something I very much lacked before Saturday.

On Sunday, my husband and I took our "Date Night" out to see Ben Stein's new documentary movie, Expelled. In classic Ben Stein style, he explores the neo-Darwinist movement, and all the possible implications of suppressed freedom in the US.

It was very much a thinking film - and entirely entertaining the whole way through.
The film hinges on how great intellects of our time are being ex-communicated from the scientific community - some for just mentioning the concept of intelligent design.

I'm no scientist, and don't pretend to be, but the way I understand it, Intelligent Design suggests that Darwin's theory of evolution is flawed and is missing the definition of the exact Origin of life. Because of this, there exists a thought concept that somehow, someway, there is an intelligent designer - an intentional creation of this existence on this rock hurtling through space.

Stein interviewed names and faces on both sides of the debtate, and near the end of the film, one of the biggest proponents of Darwinism and anti-creationist activists speaks of the possibility that life was "seeded" here on Earth by some other highly evolved life form - but that they MUST have evolved from some primordial oooze somewhere.

At this point, Stein makes a narrative comment about how this guy really does believe in Intelligent Design, it just depends on who "the designer" might be.

And that, my friends, is where the REAL friction on ID begins.

FEAR.

Fear of being wrong and having to give up their position.

Atheists in the Science realm are scared that if the designer really IS God, then they've been wrong - so they don't want to do the work to disprove the theory and instead just shoot it down as "a bunch of crazy creationists" trying to put God in the classroom again.

Heaven forbid.

But just as distressing is the fear that Christian supporters of Intelligent Design face whenever the potential of losing their job, their livelihoods or their credibility just for mentioning the possible existence of a grand designer in the scheme of the world. As a result, they're being labeled as crazies or ignoring the calling that could bring the truth to light.

What if the missing link IS God? Is that so bad? Why does science and God (not church or "religion", but the existence of another intelligent creator) have to be mutually exclusive?

Instead of pursuing science for the sake of discovering truth, people on both sides are afraid - paralyzed by what the "real truth" might be.

As a card carrying Christian, I'll get hate mail. I'm sure. As a lover of research and the desire to learn, I hope that people take this for what it's for - an honest expression of frustration at the FEAR that pervades an organization designed to pursue truth.

To me, that's what science is. Learning what's true. I intentionally didn't include theorems, postulates or other "data and errata" to cloud what I see as a clear cut case of fear in action.

Let's stop being afraid.

In science, we create a hypothesis, we test it, and explore it until we either prove it or disprove it based on experiential data.

My personal hypothesis is that God created the heavens and the earth and all the good things we get to experience around here. And until I'm proven wrong, that's how I'm living my life.

If you have a different personal hypothesis, that's your choice, and I respect it, even if I don't agree. It's in the testing of those hypotheses that we discover the truth - both our personal truth and the truth of our world.

Will I be a fool because I believed in God? To me, it's not about being foolish. That's not my place to make that judgment call.

Look at it this way, if the ultimate truth is that we DID evolve from some primordial ooze on some planet somewhere, am I worse off for having had a hope in a divine creator? Will they string me up for believing in God?

Heaven forbid.

On the other hand, if God DOES exist, and He DOES have final judgment, what will HE say to all those that were afraid to test the personal hypothesis? What will He DO to all those that rallied around Neo-Darwinism?

This is not to say that we DIDN'T evolve in some manner. As one scientist pointed out, variations occur in nature over time. That is, in the roughest sense, what evolution is about.

I don't think that evolution and creation need to be mutually exclusive. In fact, I assert that they're not. Further, I think that my Creator gave us free will so we COULD evolve and improve, grow and expand our horizons, to overcome our fears, face our obstacles and learn new truths daily.

And I have the high heels to prove it.