Business and Law

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Most people start a home based internet business to either supplement their monthly income or to build an income so they can retire from their, 8 to 5, job and spend more quality time with their families. Also, most people have basic beliefs about themselves that, in most cases, will cause them to sabotage their success at reaching their goals. They do this in many different ways.

The first way people sabotage themselves is to say “I don’t need to set specific goals.” That statement is very true if you plan NOT to succeed. To be successful in any endeavor you have to have goals. You have to have immediate goals (what to do today to improve my business), monthly goals (what I believe I can accomplish toward my quarterly goals), quarterly goals (what I believe I will accomplish toward my yearly goals), yearly goals (what I believe…), 3 year goals (what I…), 5 year goals (…), 10 year goals, and so on.

I know this seams very simplistic to a lot of people but it is one of the major blocks in the success of start up internet marketing businesses. Let’s look at a couple of these in a little more detail.

1-Immediate goals: What do I plan to do on a daily basis to increase traffic to my web site? How many articles do I plan to write this week? How much time I will I spend each day in forums? How many blogs will I publish this week? How much time will I spend each day increasing my education and how will I prioritize the knowledge I need to gain to be successful? These are only a few of the things you need to consider on your immediate goals. I am sure if you take a few minutes you can come up with several more.

2-Monthly goals-What do I plan to do to increase optimization of my web site this month? How much money can I allot to advertising for the month? Where will I use my advertising allowance? What adds will I use based on the type of advertising I will be doing? How will I track the effectiveness of my adds? These are just a few of the things you need to consider each month to increase you traffic and cost per customer ratio.

3-Quarterly goals-What is my targeted increase in customer base, quarterly profits, op-tin increase, etc? These are things you need to have defined based on the actions you are taking so you can have a gage to determine if your campaigns are working.

4-Yearly goals-What net monthly profit do you believe you can accomplish in the last month of the year? What number of opt-in subscribers do you believe you will have by the end of the year? How many, how much, from where are all questions you should have ask and have projected numbers for by the end of the year.

5-Three year an up goals are very broad categories that you should have goals of accomplishment set for. How much monthly income will I have, what type of house will I live in, what type of car will I drive, and so on.

here are a myriad of things you must think about when opening any type of business whether it is a small business or a large corporation and one of those is how business law may affect you. Failure to pay attention to business and corporate law can land you in a world of trouble-both legal and financial. The good news is that you do not necessarily need to be a graduate of a fancy business law college or have a business law major to brush up on the basic ideas of small business law and corporate business law.

If you’ve paid attention to the headlines lately, you probably know that employment law for business is one of the number one areas where you can get into trouble if you aren’t up on all the employment laws and regulations. There are numerous laws that govern the employment of both regular employees and contract employees. Just for a broad overview, take a look at all the employment business laws you must meet:

· Civil Rights Act of 1966

· The Equal Pay Act of 1963

· Americans with Disabilities Act

· The Immigration Reform and Control Act of 1986

· The Age Discrimination in Employment Act

· The Equal Employment Opportunity Act

· The Bankruptcy Act

· The Occupational Safety and Health Act

· FMLA, the Family Medical Leave Act

· Employee Polygraph Protection Act Labor Law

· FLSA, the Fair Labor Standards Act

And that’s not even counting the various state employment business laws that might apply to your business! If you aren’t sure of whether you are meeting all the regulations, it’s a good idea to get a checkup for your HR department.

Do you happen to work in the international arena? If you have anything at all to do with international business, then you should be aware of the many ways in which international business law can affect you, your business and your bottom line. At a minimum, you need to make sure that you meet general international business laws, specialized export laws, import laws and any laws of the foreign country in which your business operates.

And what about the business law scene at home? Were you aware that in addition to Federal business law and international business law, you are probably required to meet State business law regulations? Do you know whether you need a business permit or license? Failure to obtain one can result in the shutdown of your business and hefty fines and penalties. This is just one of the ways that state business law, such as California business law, can affect the health of your business if you aren’t careful to stay on top of things.

Finally, what about Internet and online business laws? Were you even aware that there was such a thing? The Internet has exploded so much in the last decade that the government has found it necessary to institute Internet compliance laws. If you operate a website of any kind and do not meet the compliance regulations, that site could be shut down and you could face criminal prosecution and hefty fines.

Recently, a good friend confided in me that she’s been waking up in the middle of the night worried about the economy and its effect on her family and business. She’s not alone. Business-owning families across the country are concerned about the impact of oil prices and the impending economic slowdown. For many, the demands and tensions of tough economic times highlight even more clearly the need for trust and open communication between family members. These demands and tensions also emphasize the need for economic discipline, clear policies, and well-established systems of family and business governance.

Over the last 15 years of economic prosperity, the financial success of many family businesses has spawned a number of bad habits. A recent meeting I had with a client led to a discussion of the economic outlook in his industry-rising fuel costs together with a more competitive landscape have led to a shrinking bottom line. The natural tendency in tough economic times is to cut costs and consider letting some employees go. Upon further discussion with my client, it became clear that the family members around the table in management positions were reacting to the pressures without a clear understanding of the true cause of their financial troubles or the likely financial impact of their decisions.

I asked the founder of the business how he ran the business seven years ago, when it was growing rapidly. As expected, I heard that there were regular weekly meetings that included a review of the financials and in-depth analysis of revenue and cost trends, and a comparison to a budget. My client admitted that as the business grew and profitability exploded, the budget process became less disciplined. Weekly meetings became monthly meetings and then disappeared altogether. Further discussion also revealed that family tensions were ignored as the business grew and bank accounts expanded.

Suppression of family conflict did not resolve it, but only made it more deep seated. This lack of financial discipline combined with increasing tension in the family and a shrinking bottom line were leading to real challenge. Beyond economic discipline, families must have the discipline to stick to their policies and succession plans. Families can avoid creating additional tension at an already challenging time by enforcing discipline in all areas of family business planning.

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