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As business travel expenses nose upward, companies are realizing that better cost-management techniques can make a differenceUS. corporate travel expenses rocketed to more than $143 billion in 1994, according to American Express’ most recent survey on business travel management. Private-sector employers spend an estimated $2,484 per employee on travel and entertainment, a 17 percent increase over the past four years.Corporate T&E costs, now the third-largest controllable expense behind sales and data-processing costs, are under new scrutiny. Corporations are realizing that even a savings of 1 percent or 2 percent can translate into millions of dollars added to their bottom line.Savings of that order are sure to get management’s attention, which is a requirement for this type of project. Involvement begins with understanding and evaluating the components of T&E management in order to control and monitor it more effectively.Hands-on management includes assigning responsibility for travel management, implementing a quality-measurement system for travel services used, and writing and distributing a formal travel policy. Only 64 percent of U.S. corporations have travel policies.Even with senior management’s support, the road to savings is rocky-only one in three companies has successfully instituted an internal program that will help cut travel expenses, and the myriad aspects of travel are so overwhelming, most companies don’t know where to start. “The industry of travel is based on information,” says Steven R. Schoen, founder and CEO of The Global Group Inc. “Until such time as a passenger actually sets foot on the plane, they’ve [only] been purchasing information.”If that’s the case, information technology seems a viable place to hammer out those elusive, but highly sought-after, savings. “Technological innovations in the business travel industry are allowing firms to realize the potential of automation to control and reduce indirect [travel] costs,” says Roger H. Ballou, president of the Travel Services Group USA of American Express. “In addition, many companies are embarking on quality programs that include sophisticated process improvement and reengineering efforts designed to substantially improve T&E management processes and reduce indirect costs.”As companies look to technology to make potential savings a reality, they can get very creative about the methods they employ.The Great LevelerCentralized reservation systems were long the exclusive domain of travel agents and other industry professionals. But all that changed in November 1992 when a Department of Transportation ruling allowed the general public access to systems such as Apollo and SABRE. Travel-management software, such as TripPower and TravelNet, immediately sprang up, providing corporations insight into where their T&E dollars are being spent.The software tracks spending trends by interfacing with the corporation’s database and providing access to centralized reservation systems that provide immediate reservation information to airlines, hotels and car rental agencies. These programs also allow users to generate computerized travel reports on cost savings with details on where discounts were obtained, hotel and car usage and patterns of travel between cities. Actual data gives corporations added leverage when negotiating discounts with travel suppliers.”When you own the information, you don’t have to go back to square one every time you decide to change agencies,” says Mary Savovie Stephens, travel manager for biotech giant Chiron Corp.Sybase Inc., a client/server software leader with an annual T&E budget of more than $15 million, agrees. “Software gives us unprecedented visibility into how employees are spending their travel dollars and better leverage to negotiate with travel service suppliers,” says Robert Lerner, director of credit and corporate travel services for Sybase Inc. “We have better access to data, faster, in a real-time environment, which is expected to bring us big savings in T&E. Now we have control over our travel information and no longer have to depend exclusively on the agencies and airlines.”The cost for this privilege depends on the volume of business. One-time purchases of travel-management software can run from under $100 to more than $125,000. Some software providers will accommodate smaller users by selling software piecemeal for $5 to $12 per booked trip, still a significant savings from the $50 industry norm per transaction.No More TicketsPaperless travel is catching on faster than the paperless office ever did as both service providers and consumers work together to reduce ticket prices for business travelers. Perhaps the most cutting-edge of the advances is “ticketless” travel, which almost all major airlines are testing.In the meantime, travel providers and agencies are experimenting with new technologies to enable travelers to book travel services via the Internet, e-mail and unattended ticketing kiosks. Best Western International, Hyatt Hotels and several other major hotel chains market on the Internet. These services reduce the need for paper and offer better service and such peripheral benefits as increased efficiency, improved tracking of travel expenses and trends, and cost reduction.Dennis Egolf, CFO of the Veterans Affairs Medical Center in Louisville, Ky., realized that the medical center’s decentralized location, a quarter-mile from the hospital, made efficiency difficult. “We were losing production time and things got lost,” he says. “Every memo had to be hand-carried for approval, and we required seven different copies of each travel order.” As a result, Egolf tried an off-the-shelf, paper-reduction software package designed for the federal government.The software allows the hospital to manage travel on-line, from tracking per-diem allowances and calculating expenses to generating cash advance forms and authorizing reimbursement vouchers. The software also lets the hospital keep a running account of its travel expenses and its remaining travel budget.”Today, for all practical purposes, the system is paperless,” says Egolf. The software has helped the hospital reduce document processing time by 93 percent. “The original goal focused on managing employee travel without paper,” he says. “We have achieved that goal, in part due to the efforts of the staff and in part due to the accuracy of the software.”With only a $6,000 investment, the hospital saved $70 each employee trip and saved almost half of its $200,000 T&E budget through the paper-reduction program.Out ThereConsolidation of corporate travel arrangements by fewer agencies has been a growing trend since 1982. Nearly three out of four companies now make travel plans for their business locations through a single agency as opposed to 51 percent in 1988. Two major benefits of agency consolidation are the facilitation of accounting and T&E budgeting, as well as leverage in negotiating future travel discounts.A major technological advance that allows this consolidation trend to flourish is the introduction of satellite ticket printers (STPs). Using STPs enables a travel agency to consolidate all operations to one home office, and still send all necessary tickets to various locations instantly via various wire services. As the term implies, the machinery prints out airline tickets on-site immediately, eliminating delivery charges.For London Fog, STPs are a blessing. London Fog’s annual T&E budget of more than $15 million is split equally between its two locations in Eldersburg, Md., and New York City. Each location purchases the same number of tickets, so equal access to ticketing from their agency is a must. With an STP in their two locations, the company services both offices with one agency in Baltimore. Each office has access to immediate tickets and still manages to save by not having to pay courier and express mail charges that can range up to $15 for each of the more than 500 tickets each purchases annually.Conde Nast Publications’ annual T&E budget of more than $20 million is allocated among its locations in Los Angeles, San Francisco, Chicago, New York and Detroit. Since 1994, travel arrangements have been handled by a centralized agency, Advanced Travel Management in New York City, by installing an STP in each of these five locations. In addition to increased efficiency due to consolidation, Conde Nast now has the ability to change travel plans at a moment’s notice and have new tickets in hand instantly.The real benefit is that the machines are owned and maintained by the travel agency., so there is no cost to the company. Due to the major expense involved, however, STPs remain an option only for major ticket purchasers. “STPs are a viable option in this process for any location that purchases more than $500,000 per year in tickets,” says Shoen.As airfare averages 43 percent of any company’s T&E expenses, savings obtainable through the various uses of technology have become dramatic. For example, the ability of corporations to collect and analyze their own travel trends has led to the creation of net-fare purchasing-negotiating a price between a corporation and an airline to purchase tickets that does not include the added expenses of commissions, overrides, transaction fees, agency transaction fees and other discounts.Although most major U.S. carriers publicly proclaim that they don’t negotiate corporate discounts below published market fares, the American Express survey on business travel management found that 38 percent of U.S. companies had access to, or already had implemented, negotiated airline discounts. The availability and mechanics of these arrangements vary widely by carrier.What’s the Price?Fred Swaffer, transportation manager for Hewlett-Packard and a strong advocate of the net-pricing system, has pioneered the concept of fee-based pricing with travel-management companies under contract with H-P. He states that H-P, which spends more than $528 million per year on T&E, plans to have all air travel based on net-fare pricing. “At the present time, we have several net fares at various stages of agreement,” he says. “These fares are negotiated with the airlines at the corporate level, then trickle down to each of our seven geographical regions.”Frank Kent, Western regional manager for United Airlines, concurs: “United Airlines participates in corporate volume discounting, such as bulk ticket purchases, but not with net pricing. I have yet to see one net-fare agreement that makes sense to us. We’re not opposed to it, but we just don’t understand it right now.”Kent stresses, “Airlines should approach corporations with long-term strategic relationships rather than just discounts. We would like to see ourselves committed to a corporation rather than just involved.”As business travel expenses nose upward, companies are realizing that better cost-management techniques can make a difference.US. corporate travel expenses rocketed to more than $143 billion in 1994, according to American Express’ most recent survey on business travel management. Private-sector employers spend an estimated $2,484 per employee on travel and entertainment, a 17 percent increase over the past four years.Corporate T&E costs, now the third-largest controllable expense behind sales and data-processing costs, are under new scrutiny. Corporations are realizing that even a savings of 1 percent or 2 percent can translate into millions of dollars added to their bottom line.Savings of that order are sure to get management’s attention, which is a requirement for this type of project. Involvement begins with understanding and evaluating the components of T&E management in order to control and monitor it more effectively.Hands-on management includes assigning responsibility for travel management, implementing a quality-measurement system for travel services used, and writing and distributing a formal travel policy. Only 64 percent of U.S. corporations have travel policies.Even with senior management’s support, the road to savings is rocky-only one in three companies has successfully instituted an internal program that will help cut travel expenses, and the myriad aspects of travel are so overwhelming, most companies don’t know where to start. “The industry of travel is based on information,” says Steven R. Schoen, founder and CEO of The Global Group Inc. “Until such time as a passenger actually sets foot on the plane, they’ve [only] been purchasing information.”If that’s the case, information technology seems a viable place to hammer out those elusive, but highly sought-after, savings. “Technological innovations in the business travel industry are allowing firms to realize the potential of automation to control and reduce indirect [travel] costs,” says Roger H. Ballou, president of the Travel Services Group USA of American Express. “In addition, many companies are embarking on quality programs that include sophisticated process improvement and reengineering efforts designed to substantially improve T&E management processes and reduce indirect costs.”As companies look to technology to make potential savings a reality, they can get very creative about the methods they employ.The Great LevelerCentralized reservation systems were long the exclusive domain of travel agents and other industry professionals. But all that changed in November 1992 when a Department of Transportation ruling allowed the general public access to systems such as Apollo and SABRE. Travel-management software, such as TripPower and TravelNet, immediately sprang up, providing corporations insight into where their T&E dollars are being spent.The software tracks spending trends by interfacing with the corporation’s database and providing access to centralized reservation systems that provide immediate reservation information to airlines, hotels and car rental agencies. These programs also allow users to generate computerized travel reports on cost savings with details on where discounts were obtained, hotel and car usage and patterns of travel between cities. Actual data gives corporations added leverage when negotiating discounts with travel suppliers.”When you own the information, you don’t have to go back to square one every time you decide to change agencies,” says Mary Savovie Stephens, travel manager for biotech giant Chiron Corp.Sybase Inc., a client/server software leader with an annual T&E budget of more than $15 million, agrees. “Software gives us unprecedented visibility into how employees are spending their travel dollars and better leverage to negotiate with travel service suppliers,” says Robert Lerner, director of credit and corporate travel services for Sybase Inc. “We have better access to data, faster, in a real-time environment, which is expected to bring us big savings in T&E. Now we have control over our travel information and no longer have to depend exclusively on the agencies and airlines.”The cost for this privilege depends on the volume of business. One-time purchases of travel-management software can run from under $100 to more than $125,000. Some software providers will accommodate smaller users by selling software piecemeal for $5 to $12 per booked trip, still a significant savings from the $50 industry norm per transaction.No More TicketsPaperless travel is catching on faster than the paperless office ever did as both service providers and consumers work together to reduce ticket prices for business travelers. Perhaps the most cutting-edge of the advances is “ticketless” travel, which almost all major airlines are testing.In the meantime, travel providers and agencies are experimenting with new technologies to enable travelers to book travel services via the Internet, e-mail and unattended ticketing kiosks. Best Western International, Hyatt Hotels and several other major hotel chains market on the Internet. These services reduce the need for paper and offer better service and such peripheral benefits as increased efficiency, improved tracking of travel expenses and trends, and cost reduction.Dennis Egolf, CFO of the Veterans Affairs Medical Center in Louisville, Ky., realized that the medical center’s decentralized location, a quarter-mile from the hospital, made efficiency difficult. “We were losing production time and things got lost,” he says. “Every memo had to be hand-carried for approval, and we required seven different copies of each travel order.” As a result, Egolf tried an off-the-shelf, paper-reduction software package designed for the federal government.The software allows the hospital to manage travel on-line, from tracking per-diem allowances and calculating expenses to generating cash advance forms and authorizing reimbursement vouchers. The software also lets the hospital keep a running account of its travel expenses and its remaining travel budget.”Today, for all practical purposes, the system is paperless,” says Egolf. The software has helped the hospital reduce document processing time by 93 percent. “The original goal focused on managing employee travel without paper,” he says. “We have achieved that goal, in part due to the efforts of the staff and in part due to the accuracy of the software.”With only a $6,000 investment, the hospital saved $70 each employee trip and saved almost half of its $200,000 T&E budget through the paper-reduction program.Out ThereConsolidation of corporate travel arrangements by fewer agencies has been a growing trend since 1982. Nearly three out of four companies now make travel plans for their business locations through a single agency as opposed to 51 percent in 1988. Two major benefits of agency consolidation are the facilitation of accounting and T&E budgeting, as well as leverage in negotiating future travel discounts.A major technological advance that allows this consolidation trend to flourish is the introduction of satellite ticket printers (STPs). Using STPs enables a travel agency to consolidate all operations to one home office, and still send all necessary tickets to various locations instantly via various wire services. As the term implies, the machinery prints out airline tickets on-site immediately, eliminating delivery charges.For London Fog, STPs are a blessing. London Fog’s annual T&E budget of more than $15 million is split equally between its two locations in Eldersburg, Md., and New York City. Each location purchases the same number of tickets, so equal access to ticketing from their agency is a must. With an STP in their two locations, the company services both offices with one agency in Baltimore. Each office has access to immediate tickets and still manages to save by not having to pay courier and express mail charges that can range up to $15 for each of the more than 500 tickets each purchases annually.Conde Nast Publications’ annual T&E budget of more than $20 million is allocated among its locations in Los Angeles, San Francisco, Chicago, New York and Detroit. Since 1994, travel arrangements have been handled by a centralized agency, Advanced Travel Management in New York City, by installing an STP in each of these five locations. In addition to increased efficiency due to consolidation, Conde Nast now has the ability to change travel plans at a moment’s notice and have new tickets in hand instantly.The real benefit is that the machines are owned and maintained by the travel agency., so there is no cost to the company. Due to the major expense involved, however, STPs remain an option only for major ticket purchasers. “STPs are a viable option in this process for any location that purchases more than $500,000 per year in tickets,” says Shoen.As airfare averages 43 percent of any company’s T&E expenses, savings obtainable through the various uses of technology have become dramatic. For example, the ability of corporations to collect and analyze their own travel trends has led to the creation of net-fare purchasing-negotiating a price between a corporation and an airline to purchase tickets that does not include the added expenses of commissions, overrides, transaction fees, agency transaction fees and other discounts.Although most major U.S. carriers publicly proclaim that they don’t negotiate corporate discounts below published market fares, the American Express survey on business travel management found that 38 percent of U.S. companies had access to, or already had implemented, negotiated airline discounts. The availability and mechanics of these arrangements vary widely by carrier.What’s the Price?Fred Swaffer, transportation manager for Hewlett-Packard and a strong advocate of the net-pricing system, has pioneered the concept of fee-based pricing with travel-management companies under contract with H-P. He states that H-P, which spends more than $528 million per year on T&E, plans to have all air travel based on net-fare pricing. “At the present time, we have several net fares at various stages of agreement,” he says. “These fares are negotiated with the airlines at the corporate level, then trickle down to each of our seven geographical regions.”Frank Kent, Western regional manager for United Airlines, concurs: “United Airlines participates in corporate volume discounting, such as bulk ticket purchases, but not with net pricing. I have yet to see one net-fare agreement that makes sense to us. We’re not opposed to it, but we just don’t understand it right now.”Kent stresses, “Airlines should approach corporations with long-term strategic relationships rather than just discounts. We would like to see ourselves committed to a corporation rather than just involved.”source: http://orlandomap.info/base-tendriling-travel-expenses

Your Debt ProblemsHave you found yourself in debt recently? Are your credit card payments spiralling out of control? Is keeping up with your mortgage demands making it difficult to pay other debts? If so, then there is a good chance that your life, when not at work, is spent dealing with phone calls from your creditors that leave you down, depressed, and hopeless.You are not alone.Debt has been a crippling influence in modern times. An age of unrestricted spending, has led to an age of unrivalled recession. In recent weeks, the problems that many believed had passed have returned with a vengeance. People with debt problems need to know that they are not alone. So many people are dealing with debt today, that those who are not are the minority. You should not be ashamed of your debt. Silence leads to greater problems, and increased debt. Speak to someone about your debt today and start your climb to a debt free life.Debt SolutionsThe main advice that anyone suffering from debt problems should be given is – get help. With the rise in debt problems in recent years, there has been an accompanying rise in debt solution companies wanting to lend a hand. Many offer free advice with no obligation. Do not sit back and let the total of your debt grow to levels above your means. There are now so many options out there to help you, that the first step to being debt free could be just a phone call away. Debt Management Companies offer various solutions, some of which are outlined below:Debt Management PlansA Debt Management Plan – also known as a DMP – is an effective and flexible way of managing your debt. If you are in debt to more than one creditor, many debt management companies will help you consolidate your debts into one affordable monthly payment appropriate to your means.Debt Management Plans can be the perfect solution. DMP companies can make it so that you no longer have to deal with calls from your creditors. Your interest charges can be reduced or even frozen. And you can do all this without having to take out further loans or put your home at risk.As with all debt solutions, however, there are pitfalls to a Debt Management Plan. The payments can be extended over a longer time than expected if you cannot meet your payments, and you will have to continue to pay your mortgage and bills. But, to expect a successful debt solution without negative elements is, unfortunately, unrealistic. Unfortunately, to expect a debt solution with no repercussions is unrealistic A debt management plan may be the best option fro despite the negatives that attend it.Individual Voluntary AgreementAn Individual Voluntary Agreement, also known as an IVA, can free you from debt in as little as five years. The simple way of describing an IVA is as a formal agreement between you and your creditors in which you mutually agree a series of reduced payments towards your total debt.IVAs are an alternative to bankruptcy, and come with much less damaging consequences. As long as you have a regular income and can agree to meet set payment terms over a fixed period, you may be suitable for an IVA. However, IVAs are a more drastic measure than Debt Management Plans and the two should not be confused. A Debt Management Plan may be more suitable to your situation. You should seek advice from a reputable source before committing to anything.An IVA offers some of the same benefits as a Debt Management Plan. Your debts will be consolidated into affordable monthly payments, calls from creditors will cease, and once debts are written off – you can start afresh. Some of the disadvantages are more severe though. You will have to declare all assets and liabilities, and any excessive assets may be ceased as payment towards your debts. You may also lose any windfalls, inheritance, or bonuses that come you way. And, of course, the results of missing payments can be harsh. A failure to comply with the IVA can lead to forced bankruptcy.BankruptcyAnd now, we come to one of the most frightening words in the English language today: bankruptcy. A very serious concern, bankruptcy has wide-reaching consequences that can be deeply damaging for a long time. If you can avoid it, do. Sadly, many people can avoid it no longer. If you are unable to repay the debt in an amount of time deemed reasonable by your creditors, you may be left with very little choice.Bankruptcy is a final option. All other options should be considered first. With bankruptcy you will find that all your assets are under threat, you may lose your house, your car, your business. But, after a year, any debts that remain will be paid off for you. You will be debt free.Bankruptcy is a horrible word, but is also a necessary one. After bankruptcy many things will be different, many things will be worse, but many will also be better.Debt AdviceWithout a doubt, debt advice is your first step on that long and treacherous road to financial freedom. This article has tried to clear up the differences between certain debt solutions, and give advice on the main ways of becoming debt free. But this article does not claim to be enough. There is more to all of these solutions than can be covered here, and the best debt advice is simply to talk to someone; to talk to someone and to remember not to feel ashamed.Debt is easy to get into, hard to get out of. Debt is a crippler, it is a fearsome enemy, and it is a growing epidemic. But there is a way out of debt. Debt management is a growing industry, and although it could not exist without debt, the industry is full of people who want to help end debt for you. Do not suffer in silence. Do not let debt build around you. Get help today.

The ProblemThe time has come to focus on “Solutions” versus “Tools”. SAP does not offer an eCommerce solution as part of their SAP Business ONE portfolio. It is therefore crucial to review the market situation and provide information and resources about the current offerings related to eCommerce. During conversations with partners, customers and an online discussion, we compiled and organized the “Success Factors” for the perfect SAP Business ONE eCommerce solution. When deciding for an eCommerce Solution that works with SAP Business ONE you can measure the available features against those success factors. In order to do this in a structured manner we will complete the following path:First we look at the solution scenarios based on SAP Business ONE. This is followed by a brief evaluation of the target market and its constraints. We then define the “criteria” that can be used to evaluate features. In essence, this criteria is designed to measure a solution’s capability to “Capture the Business Momentum”. There are many features and functionalities. We listed the “key eCommerce features” that should be present in a solution in order to enable “End-to-End” processes. The final step is to put the key eCommerce features to the test with the potential target user base in mind. We attempt to measure the overall solution with the innovative “Simple Yet Powerful Test – SYPT”. This visual representation is based on the Newton Cradle concept and showcases a solution’s potential to “Capture the Business Momentum”.The SolutionThe need for web technology is omnipresent and the ROI for web implementations is “undisputed”. Using the method shown in this white paper you can “dispute” and better decide for the “right” solution. We will focus on products that are highly integrated with SAP Business ONE. Therefore eCommerce solutions that are not integrated with SAP Business ONE by design are disregarded. Any solution can be integrated and it is not our goal to provide an integration guide in this document. We focus on solutions that are utilizing the DI-API or similar means to “extend” SAP processes to the web. Any “manual” integration will not be part of this white paper. The goal of this document is to highlight the need for end-to-end solutions that seamlessly integrate.Most emerging companies need a solution that is simple to use, easy to implement and can help them “manage growth”. Growth is one thing, but “managing” growth is key. We will later see how the established “Success Factors” can help you identify how this “Management of Growth” can be handled with your preferred solution. In the next section we will identify and define the target market for the SAP Business ONE eCommerce solutions.The Market – Focus on Emerging CompaniesWhat’s a small company? If you ask consultants and customers there are many categorizations and criteria, which is causing some confusion. The definitions actually are different by country and industry. It points to the fact that the categorization is based on the perspective. For example, a company may be large from a SAP Business ONE perspective. However it may be small for SAP mySAP. Please find the complete SAP Business ONE categorization below:• Emerging (1-10 Employees)• Small (<50)• Mid (>50)• Enterprise (>500)The eCommerce solutions discussed in this document are targeting the Emerging, Small and Mid-Sized companies. This customer segment is characterized by limited financial resources, limited IT management resources, niche market focus and success based approval processes. Therefore the potential solutions have to deliver an easy to manage solution that has the capabilities to be adjusted to detailed “niche” market needs.The Criteria – Establishing “Business Momentum”The quality of a product is determined by the criteria we use to evaluate it. During an online discussion on the LinkedIn SAP Business ONE forum participants were asked to contribute their perspective on the “Key Success Factors for eCommerce” as related to SAP Business ONE. The discussion further underlined the need to organize the success factors and structure them. For example some participants had general complaints about the available solutions while others requested specific features. It clearly showed that there are a variety concerns and requirements floating around. In order to help consultants and customers evaluate their potential eCommerce solution for SAP Business ONE our team organized the success factors as follows:–Real-Time Integration as the basis to preserve the “Business Momentum”A key selling point for SAP Business ONE is “Real-Time” information. It is therefore important to evaluate the level of integration for potential eCommerce solutions. Is the solution “Real-Time” integrated or is “Synchronization” required to keep the data updated in SAP Business ONE? There may be reasons to choose one method of integration over the other. However we advise that with respect to the SAP Business ONE designated target market “Real-Time” integration is preferred as it minimizes the requirement for additional consulting hours and/or manual synchronization. We are suggesting this, because a solution that is not integrated in Real-Time may require repetitive manual steps to get the data in sync. In a business management world there are some red flags when we hear “repetitive manual steps” and data that is not in “sync”. In addition the value of “Real-Time” integration is that the “Business Momentum” is preserved. The Newton Cradle nicely demonstrates the momentum when different components are connected in real-time. In this white paper we will identify the “Key Features for eCommerce”. Those will represent the components that have to be connected in “Real-Time” and preserve the “Business Momentum” in SAP Business ONE.–Custom Component / Standard ComponentEvery eCommerce implementation is unique as customers have very specific requirements. At the same time each eCommerce implementation has to meet industry requirements and standards to comply. It becomes clear that a solid eCommerce solution for SAP Business ONE has to deliver the flexibility to meet customer specific requirements while also complying with new industry standards.When evaluating an eCommerce solution we therefore identify the capability to “customize” the functionality for customers. In addition we list the “standard technologies” that are available. Therefore the “custom/standard” criteria must be evaluated as one. For example customers generally want to implement their custom design. However a modern eCommerce design has standard features that are often integrated with the design. Such standards are “Google Ads, Chat, Web Analytics”. As it may turn out most custom features should be based on a standard functionality in the eCommerce solution. This way you avoid programming and make sure the solution can be maintained.When standard features are not available, eCommerce solutions are “customized” via programming. We highly discourage any programming for customer projects as it defeats the purpose of an out-of-the box solution. We advise customers to approach any programming additions with caution.Having said that it must be noted that most eCommerce projects have some requirements that cannot be easily implemented in a standard format. That’s when your solution selection is crucial. How can a specific requirement be implemented? For example many customer scenarios already have an existing web and eCommerce solution. It was potentially developed as an expensive custom development. You need to treat such a system like any other “Island of Operation” and evaluate the potential for replacement or integration. Your eCommerce solution should provide options for both scenarios. For example an existing eCommerce website should be easily integrated with the SAP eCommerce checkout process. Therefore an eCommerce solution can serve as a “real-time” connected solution that integrates an existing website with SAP Business ONE.–CompletenessAre any additional Add-Ons required to achieve “End-to-End” process integration? For example does your eCommerce solution require additional add-ons for Credit Card Processing, Shipping Rate integration, Newsletter Integration or any other essential functionality? This is a crucial aspect, because for any SAP Business ONE implementation you should limit the number of Add-Ons used.–Proven Track Record / CertificationIn order to prove the track record of a solution often the number of customers is utilized. However it is not a sufficient criteria when evaluating solutions. Therefore the following additional criteria should be considered:- Is the solution “State-of-the-Art”? Often established solutions are outdated or based on old technology. You have to make sure that the solution has a long-term perspective looking forward and not only backward.- Is there a significant number of customers who purchased the solution, but never used it or otherwise never went “Live”. This could point to a discrepancy between “Sales Skills” and “Solution Potential” of a vendor.- Review industry independent reviews. Is the solution positioned in competitive portfolios?- Is the solution certified by SAP? This will be a good indication for the vendor’s dedication to this product.- Are there any “Live” stores that you can evaluate. This should be the best indication, because you can see “live” what you may get. Did the “live” stores require programming?- Are there any implementations in your specific industry?- Is a clear benefit analysis with before and after scenario available? This points to the fact that the solution provider has a structured approach.–Regional CoverageIt is interesting to note that it is often overlooked to consider language specific requirements for localized implementations. The ideal eCommerce solution would make it simple to adjust to regional requirements. Therefore the regional coverage has a “functional” aspect. Considering the very nature of eCommerce with a potential worldwide audience this aspect could play an important role when eCommerce solutions reach a mature level where overlooked features like this become an essential factor. The future eCommerce system would not only allow you to publish stores easily and present relevant content dynamically for users, but also would identify the location of a current site visitor and determine the geographic and cultural framework including products, currency, warehouse locations, and availability. These “regional” aspects are clearly functional and can contribute to an efficient integrated eCommerce solution.An important non-functional aspect is “support”. Basically you need to determine if your preferred eCommerce vendor has support capacities at your geographic location.–eCommerce Key Feature ROIFeatures are important. However features can add complexity. The main requirements should be matched with the core feature set available in the evaluated solution. We would like to highlight that this criteria is crucial. Providing the “right” features helps customers understand the potential of their solution. It is better to provide features that inspire customers based on a standard solution rather than offering them to implement “based on their requirements”. Don’t misunderstand this as disregarding the detailed customer requirements. A solution provider should address the most common requirements and then also “connect the dots” to release synergy effects. For example integrating Newsletter functionality is not an immediate obvious function. However with integration this functionality can leverage your real-time data to the next level.It is also important to note that it does not make sense to go “feature hunting”. The less and more precise features the better. Therefore in this white paper we evaluate what we call the eCommerce essentials. We don’t advocate adding new features, but rather keep it simple and add features only if their integration adds significant synergy. The following features are the essentials we identified when analyzing eCommerce functional completeness:- eCommerce End-to-End Process- Multi-Store Capability- Online Catalog- Web Dashboard- Service Integration- Newsletter AutomationWe gave each of the above key features a neutral ROI weight. You can change this based on your specific requirements. Each key feature is evaluated against the success factors. Using this concept you can assess eCommerce offerings and position them against your requirements.The success factors for each criteria are:- Real-Time- Custom/Standard- Completeness- Track Record- Regional CoverageVendor EvaluationWhen evaluating vendors and their eCommerce solutions use the following criteria to evaluate:- Does the vendor have a solution or a “programming toolset”? The approach “We can do anything you like” does not suffice. Based on our analysis a standard functionality must be available for customers.- What is the history of the solution? How many owners and developer hands did the solution go through? Changing code and software with a history of more than one owner is not easy. Customers for such solutions will end up getting marketing updates with marginal value.- Is the solution designed for SAP Business ONE or did the vendor “modify” an existing implementation that was designed for another platform?- Be careful of vendors promising that their solution helps you “Keep your Data Synchronized”. You should have your data in Real-Time, which does not require synchronization.- Does the solution provide real-time information and preserve the “Business Momentum”?Vendor Score Chart based on Key CriteriaThe following chart is a sample visual representation that shows how different eCommerce solutions for SAP Business ONE measure up against the identified success factors. Each key feature is evaluated against the success factors. As you can see the N2ONE Portal shows high ratings for each key feature. Each component from Multi-Store, eCommerce, Online Catalog, Web Dashboard, Service, Newsletter Automation is integrated in Real-Time and designed for end to end processes that preserve the “Business Momentum”. In addition no Add-Ons are required to implement the functionality. All other eCommerce solutions even require Add-Ons for basic checkout functionality.SYPT – Simple Yet Powerful TestWhat is SYPT?The Newton Cradle nicely shows the power of kinetics. It also shows the importance of integrated processes that transfer data seamlessly in Real-Time. But what if there is a dis-connect? It’s easy to see that the cycle is broken and the process does not work anymore. Therefore we would like to utilize the Newton Cradle as a tool to evaluate that the key process components are in place and comply with SYPT critertia namely “Feature Completeness” and “Ease of Use”. For example if the following criteria are met the SYPT will get high scores:- No programming required to customize- Little consulting help needed- End-to-End Automation without additional Add-OnsThe “Simple Yet Powerful Test – SYPT” ultimately puts the solution to the test and qualifies if it delivers a good combination of features, ease-of-use and the capability to “manage growth”. Matching the customer resources with the final solution with respect to usability and manageability is important. SAP Business ONE customers can range from 1-2 employee companies with an eCommerce solution that may grow to 80 employees with various locations and warehouses. Matching the requirements with minimal or without programming is key. If programming is required, it must be ensured that it does not affect the “supportability”.The “Simple Yet Powerful – SYPT” test evaluates each “eCommerce Key Feature” using the “Success Factors” criteria. In addition, each eCommerce key feature is judged based on its “ease-of-use” and usability considering the potential target audience of SAP Business ONE customers. Using this method, we can make sure that a feature can deliver business benefits for customers without the costly need for continued consulting help. Real-Time integration of all the key features and ease of use will guarantee success. In order to visually represent these requirements, we have color coded each key feature. We then utilize the Newton Cradle concept to evaluate if a solution is capable of “preserving the business momentum”. For example if a key feature is not implemented then the “end-to-end” process is broken. Essentially this would result in the fact that the momentum is not preserved.Other SAP eCommerce solution (vendor undisclosed)There are disconnected key components. The momentum is lost.N2ONE Portal designed for SAP Business ONEThe solution preserves the business momentum. All key features are integrates in real-time.NIEFERT recommendation “Don’t be the boiling Frog”When throwing a frog into boiling water it will jump out immediately. However if you heat the water gradually it will not perceive the danger and will be cooked to death. ( http://en.wikipedia.org/wiki/Boiling_frog )How does this apply to eCommerce for SAP Business ONE?Expanding your business using web technologies and tools is a common goal for most businesses today. With new web related technologies emerging frequently, those “tools” often lead to operational “Islands”. The absence of a solution for common challenges leads to “creative solutions”. Over time businesses get tangled up with complex technologies and consulting. That’s where the “Boiling Frog” comes into play. If you don’t pay close attention your business solution becomes a jungle of applications that require “synchronization” and other unnecessary clutter. We are suggesting that businesses re-evaluate their solutions based on the success factors in this white paper.What’s Next: Watch Stores Live and compare

I Like Technology. I’m conceding all the good and fun things that computer-based technology has brought into our lives; I’ll not fight that battle. Not only would I lose any argument against the wonderful additions technology has made to our lives, I would be fighting against myself. I love it that I can flip open a Star Trek “communicator” and talk to almost anyone, anytime. I love the very idea of having a communication device out in my back yard, near the bird feeder, that is communicating with a satellite in low earth orbit. Wow! And do I ever love my computer-oops, computers. As in many computers. In fact, my job is strongly tied to technology and I love to get paid. However, this article is a warning, a plea to open our eyes wider than our big screen TVs, to step back out of cell phone range, to put down our PDAs for a minute and look at what has gotten a hold on us.Technology is SeductiveTechnology has the power to draw us in and cause us to lose perspective about what is happening. Just try talking to your child (or maybe your spouse or best friend) the next time some slick TV program or commercial is shimmering across the screen and you’ll see what has all of their attention. Technology draws us in. But if we’re drawn in, we’re also leaving something behind. We could be abandoning loving or developing relationships or the quiet time necessary to think purposefully about our lives, where we are going and how we want to live five years from now. To continue this idea, that technology is seductive, let’s look at the natural progression of how we respond to new technology.Technology as a ToyAll new technology comes to us in the guise of a toy, thus its initial seductive pull on us. No matter the age, the new technology feels like a toy. It is smooth, pretty and flashes little lights. It makes cute sounds and we respond to it from the childlike (or childish) center of our being. It is not the sophisticated 35 year old business executive that is responding to the new all-purpose, highly-evolved technology thing, it is instead the seven year old child inside that is gushing and filled with Christmas morning lust. We might not even have any way to use it yet, but we play with it. We turn channels, set the volume on the 96 surround sound speakers (yours doesn’t have 96?), take pictures of our toes with it, and enthusiastically pursue carpel tunnel problems as quickly as our thumbs and fingers can fly over fun little colored buttons. It is a toy. But it does move evolve into our next category and that makes us feel a little better about it and helps us avoid the fact that we just spent a year of future retirement on a toy.Technology as a ToolThe toy usually becomes a tool. In our strong desires to justify the purchase of the toy, we look for things it can do. Ah, it keeps my calendar. Cool! Now I won’t have to keep track of my $29.00 day planner and worry about losing it. I just need to worry about losing my $495 PDA. But it can also take pictures. That’s important. It’s also good that it can erase them because I find I take a lot of pictures that are really crap and now I not only spent time taking the pictures, I also get to spend time erasing them. But the toys often turn into very serious tools. I may continue to use my cell phone toy as I unconsciously blow through red lights and make turns without signaling (need that spare arm for the cell), but I also realize this toy is a serious safety tool. I don’t want to be broken down on the highway and not have this link to help. The same 50″ flat screen wall hanging that is a toy is also a tool to be aware of threatening weather and important current events. And the notebook computer that empowers me to look at pictures of potential Russian brides helps me write this article and project investment returns. Toys have the potential of becoming tools. From puppies to working dogs. But there is a third and more dangerous level.Technology as a TyrantDictionary.com offers one definition of a tyrant as, “a tyrannical or compulsory influence.” Wow! Think cellphone, e-mail, Skype, compulsive checking of forums, chat rooms, YouTube, Facebook, Twitter, and all the other current flavors of Turkish delight known as technology. These things can be toys (relatively harmless except for what they might be replacing), they can be tools, or they can become tyrants. When deeply engrained into our work or social structure, they change from being puppies or work dogs and become pit bulls that can bite and clamp down so that it is very difficult to dislodge them. I used to be able to keep up with the demands of my job. Once upon a time I actually had a little time that I could budget weekly that was “walk around and get to know everyone better” time. No more. Now I am constantly juggling attention among appointments, drop-in unannounced visitors, snail mail, phone calls with the pink reminders, cell phone calls, and e-mail. I can never get one caught up without intrusions from all of the others. The first four were barely manageable, with cell and e-mail added, I’m no longer in control, the pit bull is. So, what happened?How Did We Get Like This?Okay. Here is the crux of this article. Technology is on a different evolutionary rate than us humans. It reproduces faster than mice and changes species with each generation. We were enticed, and continue to be enticed, by technology due to its seductive dark side. It beckons to the seven year old inside and draws us in. As a tool, technology is embraced and embedded into our lives, seemingly as a partner, one called alongside of us to help us. But, without an understanding of the evolutionary path of technology, we do not control its place in our lives. It becomes a tyrant that bullies us and pulls us around on its lease instead of the other way around. Because of the initial seductive nature of technology, we don’t easily see that it will tend to take us to where we don’t want to go and make us pay more than we first thought we were willing to pay. So, what shall we then do?What We Must DoI’m not offering a plan but an approach. The approach depends upon fully understanding what has gotten a grip on us. I suggest the following critical pieces for beginning to manage technology and protect our humanity:
Clearly see that technology is seductive and separate out and control the childish reactions to the initial toy aspects of new technology. Gratification can be delayed (an adult response) and toys can be both played with and put away.
Think through both intended and unintended consequences of bringing a shiny, new technology toy into your life. What is it replacing? How will you control it so it doesn’t put you on a leash?
Do not assume that a new technology tool is better than an older one that worked well for you in the past. I have a colleague who keeps in a pocket a little list of things to do, thoughts, and insights. His pen and paper list worked a lot better than my PDA when when my technology tool lost both primary and backup batteries and I lost passwords to multiple accounts and forums. Which is better?
Many new technology tools cannot be avoided. However, they can be managed. Think of ways to limit their use and how to communicate your policies for your use to your colleagues, family, and friends. For example, I check my email once a day and make it clear to my colleagues that I am not sitting at my computer all day waiting for the chime (evidently, they are).
Finally, pay attention to the things that technology tends to replace and redouble your effort to work on relationships so you have no regrets.
To rewrite a common adage, no one’s last words are likely to be, “I wish I had purchased the 60″ HD instead of the 54″.

By communication, people exchange. Communication is an essential attribute of human life, which is why we all spend most of our time either receiving or requesting for information. Lack of communication creates tensions and destroys personal and business relationships. The ability to exchange information or conversation with others is crucial to the success of the individual, family or business organization. It should be noted, however, that it is one thing to communicate but quite another thing to communicate effectively.Ineffective communication usually results in failure, as it doesn’t elicit the desired response in form of feedback from the receiver. This is the bane of many business organizations. Many managers do communicate, but often not very effectively. Lack of capacity to communicate effectively on the part of managers is the reason for the failure of many businesses. Every firm or business organization needs an effective communication network in order to function properly and achieve its set objectives. In this article, the focus will be on the indispensable role which effective communication plays in the daily functioning of a business organization. We shall start by looking at the meaning of effective communication from different angles and go on to examine its importance as well as how it can be achieved in business.Looking at the Meaning of Effective Communication from Different AnglesThe ultimate goal of every form of communication – face-to-face meeting, telephone discourse, teleconferencing, videoconferencing, interview, email, letter or memo – is to get an expected response in form of feedback from the receiver to the sender. This is what effective communication is about. It is about ensuring that the information is well-packaged and properly transmitted, so that the recipient understands the message and responds positively. In other words, effective communication is the one that achieves the results for which it is intended.Communication can be looked at from different angles, such as the mode of expression (oral or written, or even non-verbal communication), the purpose of communication, the audience, the information flow (vertical, horizontal or diagonal), etc. Communication can be internal (within the organization) or external (with outsiders). It can also be interpersonal or group communication; interpersonal when it involves two people and group when it takes the forms of meetings, discussions, symposia, conferences and workshops. There is also mass communication which has to do with communicating with the masses by the means of the radio, the television, the newspaper, the internet, etc.). From whichever angle it is looked at, communication can only be considered to be effective when it results in the desired feedback.Oral communication involves the use of spoken words and could take the form of face-to-face conversation, interview, telephone discourse, voice mail, meetings, group discussions, oral instructions, teleconferencing, videoconferencing, etc. Oral communication is quick and permits immediate feedback as well as immediate response to feedback. Participants can ask questions and get immediate clarification. Moreover, gesture and facial expression can be used to reinforce the intended message. The limitations of oral communication include susceptibility to errors and misinterpretation and lack of permanence.Written communication, as the name implies, involves the use of written words. It can come in the forms of business letters, memoranda, reports, minutes of meetings, written speeches, etc. Written communication has the advantages of revision before transmission, permanence and accessibility for reference purposes. It also reduces the risk of distortion in meaning; thus, it can be considered as an ideal medium for long and complex messages which, if relayed orally across many intermediaries, can easily be distorted or misinterpreted. Another advantage of the written medium is that it can easily be reproduced in many ways (e.g. photocopying) and distributed to many recipients. One of its major limitations is delayed feedback; the reading of long documents may be boring and the writing of a reply could also be delayed by a number of other factors. Written communication also lacks the presence of gesture, facial expression and other forms of body language capable of reinforcing meaning in communication.The choice of medium of communication depends on the nature of the message to be transmitted. As earlier observed, while the written medium is the perfect medium for transactions that require permanent documentation, the oral medium is ideal for messages that require immediate feedback. One has to consider the circumstances in order to determine whether to use a telephone call, a face-to-face meeting, an email, a typed and signed document, etc. The factors to be considered when choosing the medium of communication include: urgency, formality, risk of misinterpretation, confidentiality, legal implications or the need for future reference, the nature and size of the audience, etc.Communication in business is usually intended to achieve specific purposes, such as giving information, making inquiries, providing explanation, persuasion, reassurance, making transactions, etc. Communicating to inform is frequently an act of introducing, notifying, announcing or reporting; it is usually aimed at informing people about new product lines, prices, names, addresses, etc. If the purpose of communication is to persuade, the message has to be packaged with a view to moving the audience to action by the use of words. This type of communication is ideal for advertising a product or motivating employees.When communication is purely for business transactions, such as contracts, agreements, receipts, etc., the message has to be packaged in a way that gives no room for misinterpretation or legal actions. In this type of communication, the emphasis is on the accuracy and appropriateness of given information, such as the date of transaction, the agreed terms and conditions, the agreed prices, the total sum and currency, names, addresses and signatures of parties to the agreement, etc. The point being made here is that, in order to achieve effective communication, the message must be packaged to serve the specific purpose as well as the particular occasion of communication.How to Ensure Effective Communication in BusinessIt is important to note that poor or ineffective communication is responsible for a situation where the receiver doesn’t understand what he or she has read or heard and thus cannot give any positive feedback. This implies that the hallmark of effective communication is a well-packaged and properly transmitted message – that is, a message that is capable of attracting the receiver’s response in form of positive feedback.Language should be seen as the most important form of effective communication. The communicator must ensure that the language he or she uses is clear, accurate and appropriate to the audience, purpose and occasion for which the message is intended. The use of informal language where a polite and formal register is required, for instance, can render the message ineffective. Wordiness or the use of unnecessarily complex constructions can only create room for misinterpretation; hence the acronym ‘KISS’: Keep it short and simple.Also, the use of expressions, jargons and buzz-words that the audience is unfamiliar with can present barriers to them and thus hinder communication. Where technical language and terms are used, they must be defined and explained in accordance with the knowledge of the audience. Whatever is the purpose of the communication, the communicator must connect with the audience by using clear and precise language and removing every form of ambiguity or barrier so the audience can have a full understanding of the message.Effective communication is best achieved when the purpose or central idea of the message is stated clearly and the subordinate ideas effectively identified and related to the main purpose in a naturally convincing manner. It is important to ensure that the material is arranged in a logical and coherent order, with each paragraph containing only one main idea that is clearly stated and supported with relevant, sufficient and persuasive points. To achieve coherence, new information must be linked to previously discussed information in a way that engages the reader and reinforces the main points. The conclusion of the message must restate the main purpose and specify the action to be taken.Ensuring correctness or grammatically is also a vital aspect of effective communication, because ungrammaticality is capable of distorting meaning or undermining credibility, thereby hindering communication. It is very important to ensure that rules of grammar and syntax are followed, that correct words are used to convey the intended meaning and that punctuation reflects standard usage. Finally, the entire work must be proofread to ensure that the final copy is free of mechanical errors.Above all, it should be noted that the purpose of business communication is, in broad terms, buying and selling. Business communication is usually about practical matters, such as products, prices, discounts, sales, delivery, payments and so forth. The successful businessman is one who achieves his goals, and to achieve his goals, he must communicate effectively through clearness of expression. He has to present his messages to his audiences in the clearest and most straightforward manner.Every business communication aims to invoke some material and immediate response or action. Whether it is a face-to-face meeting, a telephone discourse, a sales letter, a letter of inquiry, a memo or a report, the aim is to get something done. Therefore, every business communication has to use clear and persuasive language in conjunction with appropriate action in order to connect with the audience and invoke the desired response.

Raising FinanceThere are many ways of investing in property, even if you don’t have any money. Lease options and Rent to Rent are two very popular strategies. You can create a lot of cash flow by packaging and sourcing deals for other investors for a fee. However, it doesn’t mean that if you don’t have money, you can’t invest in multi-million pound projects such as developments, commercial conversions or normal BTL properties worth a lot of money.There are people out there who are waiting with their cash to invest in your deals instead of having their money in their bank where they’re unlikely to get much return. Money loses value every single day and after paying taxes, they may just break even or make a loss. That is why they look for new opportunities. Some of those people are cash rich and time poor, meaning they don’t have the time to find deals. These investors are looking for people like you to find and negotiate deals so they can finance it and share a profit with you. You need to start hanging around with these sorts of people; tell them what you do and build a relationship with them at the networking events, exchange business cards and after the event follow up with everyone the next day via email. You can say things like: “Hi Mr Smith, it was a pleasure to meet you at the property networking event yesterday. It would be great to meet up with you to discuss further business opportunities. Please let me know when you’d be free to meet up.” Or you can say things like “There is no free lunch, but there is when I am in town.” It all depends on who you deal with. This is just a simple example. If you are good at writing emails you can develop it, but try to keep it short and to the point. Remember: dress to impress; you can never get a second chance at a first impression. Who you hang around with is who you become and your network is your net worth. If you told us how much five of your friends made annually we could predict your salary.We will name a few places and products where you can raise money for your property investments. Even if you have a lot of money and you start investing, you will eventually run out of money one day. That is why it’s very important to raise finances and use other people’s money instead of your own. All successful people do the same – they don’t use their own money.Joint Venture (JV) This is a very good way of building your property portfolio quickly with minimal risk and no capital required. JV partners could be people who you meet at networking events. Some have a lot of time and will bring you good deals, whereas others are very busy but have a lot of cash to invest. If you are working with private investors they will have business experience that can help you. This will be very beneficial when analysing deals, legal issues, profit and loss etc. It is much easier and quicker to build a property business with partners than by yourself. Before entering in any JV agreement, make sure you do your due diligence on the person you are dealing with and consult with your solicitor. JVing with other people has positives and negatives so you need to analyse it before you enter such an agreement.For a joint venture to work, you need to choose the right partners; each partner needs to bring something different to the partnership. It’s important to have clear documents that outline how the partnership will work so you know who is responsible for what. You need to be honest and open with each other.I (Damian) experienced bad partnerships many times and lost a lot of money in business but it wasn’t their fault – it was mine. You need to take responsibility for yourself. If I had done enough due diligence on the people I was partnering with I would never have gone ahead with the deal. But I am happy that it happened as it was a good lesson and I will never make the same mistake again. It takes time to find good partners and you might be lucky and find a good one in the first place. Remember there is a golden rule in business: trust but verify! I have done many good deals with my current business partners and it would never have happened if I didn’t go to networking events. Shane and I travelled all the way from London to Florida just to network and meet new people who we can do business with. That is called sacrifice; we do whatever it takes. Do today what others don’t, to have a tomorrow that others won’t.You can also JV with your friends and family; you provide the deal and knowledge whilst they bring the money required. Once the work is done, you share the profit 50/50. There are many different ways of structuring JV deals. For example, there might be people who are not interested in monthly income but investing money for capital appreciation. So instead of sharing the profit 50/50, you take the cash flow every month and they take the equity. The amount the house appreciates in value will benefit your JV partner, but make sure you have an exit strategy in place so you don’t have situations where they want to sell the property but you want to keep it.Remember that 50% of the deal financed by a JV partner is better than 100% of nothing.Crowd FundingCrowd funding is getting more and more popular. There are a lot people with a good business plan and models but with limited finances. Raising money from banks is difficult and bridging is expensive. Many investors look for opportunities where they invest their money for a share in a company or project in return. It is very common in this day and age to start big developing projects where there are few investors that fund the project together to build apartments, and once it is sold they share a profit equivalent to the proportion of the money invested. In some crowd funding projects, anyone can invest money and get, for example, a 10% return on their investment. Quite often there are hundreds of people investing in one project. This is an extremely powerful strategy and it’s now even used to raise money for start-up businesses and movies.Credit Cards, Loans and OverdraftsWhen we started our property journey we had no money and a lot of debt. Our favourite source of investment at the time was credit cards and overdrafts as we didn’t know many people who we could raise the money from. Most of our credit cards were maxed out, so we had to increase our credit limits. Our first property investments came from none of our own money! When you have no money you must start thinking outside the box as you have little choice. These tips came from our mentors, they showed us how to do it and what to say when talking to the banks as this is very important. If you tell your bank that you need money to invest in property then you can forget about them agreeing.From being broke, we both achieved financial freedom in just one year of investing in property. It all came from knowledge that we acquired from our mentors, books and creativity, so we managed to crush the myth that you need money in order to make money! If you want to master the property game, you need to have the knowledge to be creative. That is how winning is done. Most of the multi-millionaires and billionaires are self-made; they started from zero or debt, so anything is possible. You just have to believe it, set up a plan on what you want to achieve and how you are going to get there; for your dreams to come true you first have to wake up! You can have anything you want in life, you just have to be hungry and believe that you can have it.Sylvester Stallone (Rocky Balboa) is a great example of a self-made millionaire. He started from humble beginnings – he was evicted from his apartment and was homeless for a while. In March 1975 Stallone saw Muhammad Ali fighting against Chuck Wepner. After that fight, he went home and started writing a script, taking inspiration from both the fight and the autobiography of Rocky Graziano to start writing Rocky Balboa. Stallone attempted to sell his script to multiple studios with the intention of playing the main role in the movie. Although receiving enormous amounts of rejections, which went on for several months, he never gave up. He was finally offered $350,000 just for the rights to the script without him playing in the movie. He refused to sell it unless he could play the main character, so after a substantial budget cut to compromise the producers agreed to have him as a star, and the rest is history. He could have just taken the $350,000 which for him at that time was a lot of money, but if he did he wouldn’t be where he is today. That shows determination. There was a time in his life where he had to sell his dog for $50 because he didn’t have any money to feed him; after his success with the Rocky Balboa script, he bought his dog back for $15,000.Angel InvestorsThere are a lot of places to go where angel investors spend their time. All you need to do is search on the internet for the closest one to your area. Millionaires and billionaires come to these places and look for people with great ideas for a new business where they can invest their money for a share in the company in return. More importantly, not only will they invest, but they will also give you all the support you need, which is priceless. They usually have their own power team that has expert knowledge in marketing, branding and selling. Of course, you must know everything about the business and have a great pitch that will attract the investors to persuade them to invest in your company or project.You need to make sure you know your numbers; know everything about your competition, if there is any, and have a great unique selling proposition (USP). Having a mentor that has already achieved what you want to achieve is precious! I (Damian) have invested and started many companies before property investing. I invested all the money I saved from my part-time jobs and I lost it as well as getting myself into debt. The main reason I failed in both businesses was because I didn’t know what I was doing. I had no guidance or a mentor to tell me how it needs to be done, what needs to be changed and what it is I was doing wrong.When I started property investing, I had a mentor from the beginning and that is why I succeeded and I have done it in a very short space of time. I knew exactly where I was going and I knew that I had the support if I needed it. Every successful person has a mentor; imagine a footballer in the English Premier League or an athlete without a coach. Do you think Usain Bolt, the fastest runner on the earth, would be where he is today without a coach? We have paid a lot of money for mentoring and coaching, but with angel investors you can receive investments and free mentoring for a share in your business.Family and FriendsThere are a lot of people such as friends and family that have money sitting in their bank accounts without getting much return on their savings. Believe it or not, but money goes down in value all the time; inflation kicks in and prices go up. What you could buy for £10 ten years ago you can’t buy anymore. That is why it’s very important to invest in assets that appreciate in value. If you get a good deal, you can ask your friends if they would like to get 10 % return on investment on their money. I am sure they will like the idea as in the bank it’s unlikely they’ll get more than 1%. How you give it back is flexible; once the property is refinanced or pay them interest each month. It all depends on the individual and your agreement. Once they get their money back after the first deal, this will prove you can be trusted and they are likely to lend you money again.Sell LiabilitiesWhat do we really mean by selling liabilities? A liability is something that takes money out of your pocket, e.g. if you have a car that is worth £10,000, it will go down in value every single year plus it will cost you money every single month. Car insurance needs to be paid, road tax, petrol, MOT test, car maintenance and repairs. If you sell the car for £10,000 and buy a property below market value, you can refinance the property after 6 months and buy a new car or you can get a new car on finance as you will have a passive income from the house you bought. Every single month the rental income will pay for your car without you physically working to pay for it, so instead of having just a car, now you have a property plus a car that is paid by the asset you have acquired. What would you prefer?Bridging LoanA bridging loan is a very good method if you need to borrow money for a property that you want to buy very quickly. It only takes a few days for the bridgers to accept your application and lend you the money; in some cases 24-48 hours. If you borrow for the first time and pay back successfully the next one will be much easier and quicker because they know that you are reliable.Bridging loans are mainly used by investors buying houses at auctions where you have to complete the purchase almost immediately. You cannot do the same with a standard mortgage company. Bridging loans have very high interest, from 1-3% per month or more in some cases. You need to know your numbers and have an exit strategy in place as it’s a very risky loan. If you have never taken out a bridging loan, make sure you consult with a financial advisor beforehand or somebody that has experience in bridging so they can make you aware of the potential problems that can arise.Social Media GroupsThere are a lot of property investing groups on social media that you can join for free. You can ask questions, gain free advice and find potential business partners. You can even sell and buy property deals, subject to how active you are in the forums.Before buying anything, make sure you do your due diligence on the person that is offering the deal and on the property they are offering. We had many deals that came our way but when we did our due diligence we found out that many of these properties were on Rightmove and Gumtree, revealing that we were not being offered a discount or, in some cases, they were trying to charge us above market value!Seminars and Networking EventsThis is our favourite way of raising finance, as most of the deals we have done and money we’ve raised came from people we met at seminars and networking events. Some people we know say that we are lucky because we manage to sell a deal or get a deal financed that made us a lot of money. But guess what? If we were sitting at home watching TV, playing PlayStation or going to the pub with friends, we would never have met the sources and our business partners. It’s all down to our hard work and the time we spent building relationships and our network. Your network is your net worth and it’s not who you know but who knows you.You first need to invest some money into the relationship before you start to do business with anyone. We invite potential business partners for dinner, for example. Is food free? No, it isn’t! Is transport free? No, it isn’t! You need to pay for eating quality food, for petrol or a train ticket. People who say you are lucky forget about all the sacrifices, costs and hard work. Business relationships are similar to dating. You shouldn’t ask for sex on the first date; it’s the same in business. You need to meet multiple times and build a relationship with a potential business partner before you do any business together.Private Members ClubThere are many different types of private members’ clubs. If you are a fan of cars, you could look into a Ferrari or Lamborghini private members’ club. You don’t necessarily need to own one to be a member. People who can afford these kinds of cars are definitely the ones with money so it could be a huge benefit to hang around with them and build relationships that could add value to your business in the future.There are also yacht clubs, gentleman’s clubs, luxurious concierge services where you pay a monthly fee of anything between £50-£200. You get access to the best clubs in your city for free where you don’t need to wait in a queue. Impressive restaurants and sold out VIP events from the world of music to theatre, film, sport and art. There are many different private members’ clubs to choose from – it all depends on what you are looking for and what interests you. You can find more information about private members’ clubs online.High End GymsThe gym is a perfect place to network with people. There are reasons for that. First of all, you will see the same people every single day or at least 3-4 times a week because if you want to keep healthy and fit you need to work out on a regular basis. When you meet someone every single day and you make eye contact with them they will remember your face, and eventually you will start talking to each other. You will share weights, benches and equipment together and if they like you, you might even come to the gym with them at the same time and work out together.The main reason that we mentioned high end gyms and not just any gym is because this is where wealthy people go to exercise. Wealthy people won’t go to any local gym as they like luxury and great customer service – everything they need is in one place from nutritional guidance, private medical care, spa treatments to DNA testing to determine what exercise suits them best. They also want to hang around with other people who are successful because who you hang around is who you become.High end gyms have very expensive joining fees, which could be anything from £400-600 and a monthly fee of around £185-240. The most expensive one in London is in Knightsbridge, which costs as much as £2000 to join and £500 per month. There are a lot of gyms to choose from that are also very good and attract successful people and cost much less. David Lloyds or Virgin Active gym will cost you around £70-90 per month. High End gyms cost a lot but sometimes it is money well spent. If you can find someone that could finance your project of £500,000 to £1,000,000 or JV with you, isn’t the £200 per month worth it? Some people spend £3 on a coffee every single day, £3 x 5 days= £15 per week! In one month, that’s a cost of £60. What if you could save this money instead and put it towards the gym membership that will be much more beneficial and healthier than your daily coffee?There are many more places where rich people spend their time. A charity ball is a good place to go as people spend a lot of money there bidding and raising funds to help the less fortunate.There are very cheap and also very expensive ways of raising money. Everyone’s situation is different. You might be able to pay the £200 for the gym membership or you might prefer to go to free seminars or networking events. If you keep working hard and you are out often meeting new people, you will build your network and you will find the people who you are looking for. It might take you slightly longer than the more costly route as it may attract wealthier people, but you will still make it as you might meet someone who knows somebody who has the money and would like to invest it or get a better return than the bank is giving. We had to choose the cheap route as we were in debt so didn’t have the money to join expensive clubs. We are a living example that you can build a big network without spending £200 per month on gym membership. We met most of our business partners and investors at networking events and seminars, but we worked really hard to build those relationships.

Digital marketing is also known as internet marketing or online marketing and it’s about identifying, anticipating and satisfying customer requirements in the digital sphere while achieving your business goals.It encompasses a wide range of online channels including pay per click advertising, search engine optimisation, social media marketing, email marketing, affiliate marketing and many more.It also involves tracking, measuring, monitoring and managing online campaigns to meet business goals, while satisfying target markets needs and wants. So, all activities start with goals and objectives and customers are at the heart of all operations.For true success with digital marketing, it’s important to create a marketing plan or strategy that helps guide your activities and this is what you should include in it:Marketing AnalysisAn analysis is a health and wealth check of your business to assess how well you are performing on digital channels. It helps you to review your business to see what you lack and what you need to do to achieve your mission.An analysis also involves researching your competitors to find out who they are and how well resourced they are. Competitors come from all directions and include international businesses that are selling to your local target market and you can’t ignore them.Your analysis will also look at your target customers to find out who they are and what they need or want. You will identify their demographics and assess if you are able to meet their requirements whether they are consumers or business customers.Marketing ObjectivesFrom your marketing analysis, you will have a wealth of information that will help you to craft your marketing objectives. Remember, your objectives are short-term and they should be in line with your mission and goals.They should be specific, measurable, achievable, relevant and time-related and you should take into consideration your business resources as you create them.Your objectives will guide your strategy so it’s important that you take some time creating them and ensure that they are important to your business.Target MarketingIn your marketing analysis, you will have identified customer segments that you want to target with your products or services. Now you will need to identify which segments to target based on your objectives and the resources that your business has.This is one of the most difficult parts of your digital marketing plan and it’s important that you pick only the segments that will be profitable. So you should avoid targeting all segments because that will likely dilute your efforts and exhaust your budget for little in return.Marketing StrategyThe marketing strategy is the bulk of your digital marketing plan and covers your marketing mix elements such as product, price, place, promotion, people, process and physical evidence. So these are all the marketing tactics that you have to implement to achieve your objectivesMuch of what you include here will have come from the research that you carried out in your audit and analysis.Budgets and ControlsLastly, you should set a budget that is sufficient enough to implement your marketing tactics. If you have a small budget, you should only include those tasks that are most important to your success.Control is about identifying contingencies and deciding what to do when things go wrong, as they usually do. So you need to regularly check and review progress and ensure that you are on the path to achieving your objectives.