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Am I Cut Out to Own My Own Business?

October 05, 2008
posted by admin

Bigg Challenge
Kendra started a business six months ago. It’s exciting, but also extremely successful. At times, she really misses the regular salary her old job provided. Lately, she’s even been looking at job openings and she’s seen some great opportunities. Sometimes, she really regrets that she gave up her corporate job. Her question for us: “Is she just not cut out for owning her own business?”

Bigg Advice
Ultimately, Kendra, only you can decide if you’re cut out for it. However, we’ll offer some guidance on getting through this.

Stop tormenting yourself with the job openings.
If you reach the point, where you’re truly giving up on your business, THEN and only then should you start looking for a job. Some people might say that it’s a good thing for you to keep her options open.

They’re wrong!

Once you make a decision like this, you can’t constantly look at what might have happened if you did something else or what could happen if you completely change direction.

You have to commit to what you started out to do. If you don’t, you WILL fail. 

Develop your own internal process to stop the second-guessing.
This is closely related to the point above, but it is such an essential skill for entrepreneurs that we thought it needed to be separated.

As a business owner, there will be days when you’re on the top of the mountain and there will be days when you’re stuck in the valley. And there are few days in between!

When you’re stuck in the valley, your internal voice is one of the things that will help you get back to the top of the mountain. However, understand that as a business owner, you’ll be back in the valley again before long. It’s just part of the process. 

That’s why it’s so important to develop an inner voice that encourages you, rather than creating more doubt.

Develop a support network.
Friends are great, but you need to regularly converse with fellow business owners. Anyone and everyone who owns their own business will completely understand what you’re going through. They’ll give you that boost when you need it. And that includes us!

Thanks, Kendra. We wish you bigg success!

Keep yourself fired up by tuning into The Bigg Success Show!
Get a lesson and a laugh in five minutes or so!

Our bigg quote today is a good one, but isn’t attributed to anyone.

“Any belief worth having must survive doubt.”

If you stick to your beliefs, there’s little doubt that you’ll win.

Next time, we ask, “Who’s in control – you or your Blackberry?” Until then, here’s to your bigg success!

Subscribe to the Bigg Success feed.

Subscribe to The Bigg Success Show in iTunes.

Related posts

The Secret to Survive and Thrive in Your Own Business

How Do You Learn To Be An Entrepreneur? 

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Can You Have Too Much Home Equity?

October 04, 2008
posted by admin

The conventional wisdom used to be: Pay off your mortgage as soon as you can. Retire with a paid for home. Some personal finance writers still believe that. I used to believe it too, but not any more.

 

No debt is as bad as too much debt. I used to be a zero-debt advocate, but now I think zero debt can create a diversification and liquidity problem. If I have too much of my net worth tied up in home equity, I am very sensitive to falling real estate prices, and I am going to find it very difficult to tap my equity if I need it.

 

Istock_000005550477small The problem with home equity is that the more I need it, the harder it is to get to. What lender, for instance, is going to give me a home equity loan when I have just lost my job? What kind of bargaining power do I have in the sale of my home if a loved one is sick and needs hugely expensive out-of-pocket medical treatment?

 

In response to my previous posts on this topic, some have suggested that taking out a home equity line of credit (HELOC) and letting it sit there unused is the answer to freeing up the equity in your home in case you ever need it. Sunday's New York Times shows us why that is not necessarily the solution.

 

Apparently, lenders across the country are freezing HELOCs across the country, even if you have a perfect credit score. In the last month, lenders have sent hundreds of thousands of letters to consumers telling them those home equity lines of credit they paid money to secure, can no longer be tapped.

 

Most of us think of diversification in terms of asset classes. You also have to think in terms of diversifying liquidity. On the liquidity continuum, cash is obviously most liquid. Businesses and limited partnerships are probably least liquid. In between you have a broad range.

 

Having an emergency fund is key. I believe in at least a six month supply of cash on hand. Next comes cash flow. Interest, dividends, option premium, rent, and royalty payments are all forms of short term liquidity. After that are items that can be readily bought and sold in efficient markets. This would include stocks, bonds, options and futures. From there, liquidity becomes murkier.

 

Some investments have lock-up periods in which you cannot sell them or you will pay a big penalty to sell them. Others, like real estate, can be easy to sell at times, but almost impossible to sell at others. The more complex the asset, likely the less liquid it will be.

 

It is helpful to consider that most companies don't go bankrupt because they lose money, they go bankrupt because they don't have sufficient liquidity to meet their daily obligations. Think of Bear Sterns.

 

The same is true of individuals. Most individuals who file for bankruptcy have jobs and assets. It is just that their cash inflows don't properly match up to their cash outflows. When this happens, you have a liquidity problem.

 

Your job, as family CFO, is to structure your assets so that no matter what happens, your cash inflows match up to your cash outflows. In on other words, liquidity has to be a primary consideration.

 

As a general rule, I like to think of liquidity as being inverse to assets. The less resources you have, the more liquid you need to be. As your assets increase, you can afford to put more and more of them in less liquid assets.

 

If you haven't already, sit down and list out your assets. Stack rank them from most liquid to least liquid. Then ask my favorite question … "What if?" Ask yourself, what if I had no income coming in for two months? Where would the money come from? What about six months? A year? Two years? What if I was permanently disabled? What if I was sued or someone in my family became ill?

 

Asking these questions forces you to examine your resources in terms of liquidity. If you don't like the answers you come up with, it might be time to restructure your assets or get going on augmenting your savings.

 

SOURCES:

 

1. Morgenson, Gretchen, “You Thought You Had an Equity Line.” New York Times, April 13, 2008 http://www.nytimes.com/2008/04/13/business/13gret.html?_r=1&oref=slogin (accessed April 15, 2008,).

 


 

Kim Snider is the President and Founder of Snider Advisors, a SEC Registered Investment Advisor, focused on teaching individual investors a sensible, long-term investment approach focused on maximizing cash flow. For more information on Snider Advisors or the Snider Investment Method and how to stop enriching your investment advisors at your expense, please visit snideradvisors.com. Her book, How to Be the Family CFO: Four Simple Steps To Put Your Financial House in Order, will be in bookstores October 1, 2008.

 

Snider Advisors makes no representation that the information and opinions expressed are accurate, complete or current. The opinions expressed should not be construed as financial, legal, tax, or other advice and are provided for informational purposes only. Call 866-952-0100 to request the Snider Investment Method™ Owner's Manual, which includes a description of the Snider Investment Method, investment objectives, risks, suitability and other information. Please read and consider carefully before investing. All investments, including the Snider Investment Method™ are subject to risk, including possible loss of principal.

 


Morning Reading List, 04.18.08

October 03, 2008
posted by admin

4345057.jpg

Good morning Washington.

Quickly navigate Morning Reading List:
REVOLVING DOOR | NEWSPAPERS | TV | ONLINE MEDIA | MAGAZINES | NEWS NOTES | JOBS

  • You think Mo Rocca is not a funny guy.

  • Today's "Angry Journalist" rant of the day: "Two college degrees, five years of experience, a stellar reputation = $18,000/year with no expenses or health insurance. Somebody tell my bill from MasterCard that this is priceless."

    REVOLVING DOOR

  • Robert Schlesinger joined US News & World Report last week as deputy assistant managing editor, opinion. And this week, his book, White House Ghosts: Presidents and Their Speechwriters, was published.

    Top of post

    NEWSPAPERS

  • The Guardian reports, "The US version of the Wall Street Journal could be rolled out to other parts of Europe following its launch in London."

  • MarketWatch reports, "New York Times Co. said Thursday it swung to a first-quarter loss, hurt by a charge and a steep decline in advertising revenue at its newspapers, giving another indication that the environment remains highly challenging for the industry."

  • Forbes has a Q&A and with "Los Angeles Times Publisher David Hiller"

  • A reader writes in, "Further proof of the redundancy of three hill pubs: RollHilliTico is using the same photographer for the same Byrd story ... a story that's older than The Nile (aka 'denial')"

    Top of post

    TV

  • An ABC release announced, "According to Nielsen Media Research for Sunday, April 13, 2008, ABC News' 'This Week with George Stephanopoulos' outperformed CBS' 'Face the Nation' among Total Viewers. This is the 19th time this season and seventh consecutive week 'This Week' beat 'Face' in Total Viewers. 'This Week' is also the only Sunday discussion program to grow among Total Viewers and the key Adults 25-54 demographic season to date."

  • A NBC release announced, "According to Nielsen Media Research data, 'Meet the Press with Tim Russert' was the most-watched Sunday morning public affairs program, winning the week ending Sunday, April 13, 2008 in all categories. On Sunday, the Russert-moderated program was No. 1, averaging 4.016 million total viewers"

    Top of post

    ONLINE MEDIA

  • The Wall Street Journal reports, "To keep up with the exploding popularity of Internet video, many companies are scrambling to get their content on the Internet. They're not scrambling fast enough. That's according to a recent study conducted by online-content distributor Akamai Technologies, which found that most content is pirated within hours of hitting the Web. The unauthorized consumption typically begins the morning following an online broadcast and gets progressively larger throughout the day. Within 72 hours, illegal file sharing can erode nearly 20% of the online audience for an average primetime TV show."

  • The AP reports, "New data released Wednesday show online views of videos soared 66 percent in the U.S. in February from a year earlier, with TV networks grabbing just a pittance of those eyeballs."

  • Bloomberg reports, "Google Inc., owner of the most popular search engine, faces a deteriorating market for consumer advertising after incurring a drop in business from financial firms."

  • The AP reports, "Comcast to skip latest FCC network management hearing"

  • Check out whereIstand.com, "a user-driven politics opinion Web site" that launched its Beta version. "The social networking community presents the opinions of users, along with the opinions of public figures and organizations, in an issues-based structure that reflects the grassroots nature of public discourse as it changes. The site also features functions for searching and comparing of results."

  • The Wall Street Journal reports, "Yahoo Inc. moved closer to outsourcing its search advertising to Google Inc. after an initial test of the system yielded what the two firms deemed positive results, people familiar with the matter said. A partnership could give Yahoo some needed leverage as it tries to ward off an unwelcome $42 billion bid from Microsoft Corp. Some view the potential pact as mere gamesmanship, particularly in light of antitrust concerns that a Google-Yahoo linkup would likely raise."

  • The AP reports, "With little fanfare, AOL began occupying new headquarters in New York this week to bring itself closer to the heart of the media and advertising industry as it transforms itself into an ad-supported business. About 300 senior executives and content producers, many already located elsewhere in the city, were the first to move to the new digs at 770 Broadway in Greenwich Village, once home to the grand Wanamaker department store."

    Top of post

    MAGAZINES

  • NMA.co.uk reports, "CondéNet International, the digital arm of Condé Nast, is embarking on an aggressive online strategy in the UK and then worldwide. Following the relaunch of Vogue.com in the UK next week, new plans will be drawn up for all of CondéNet's major properties, such as Glamour and GQ. The designs, platforms and ad models will then be adopted for these brands internationally. Previously each magazine site in each country was standalone, a standard setup in magazine publishing."

  • Folio reports, "With dwindling newsstand and advertising revenue, slashed marketing budgets, skyrocketing postal and production costs -- and, oh yeah, that recession thing -- consumer magazine publishers need be innovative, perhaps more than ever before, to survive. And they're probably going to have to blow up the church-state boundary between advertising and editorial, too. Those were the bullet points that dominated a lively discussion among some 700 advertising and publishing executives at the 12th annual New York Magazine Day Wednesday."

    Top of post

    NEWS NOTES

  • Reuters reports, "Shares of global information company Thomson Reuters Corp fell in their debut on Thursday on concerns over a financial industry downturn. The new company, formed by Thomson's purchase of Reuters for more than $16 billion in cash and stock, hopes its portfolio of products, ranging from financial to legal and health care, will help it ride out the credit crisis."

    Top of post

    JOBS

  • Dana Press is looking for a Production Assistant, Publishing, an Assistant Editor, an Administrative Assistant, Publishing and an Executive Assistant for Publishing.

  • MarketWatch is looking for a Radio Anchor -- Freelancer.

  • Education Writers Association is seeking a Seminar Program Coordinator.

  • Freedom House is seeking a Managing Editor, English (Iran Programs)

  • "b, a new entity from the Baltimore Sun Media Group, is searching for an organized, cool-headed and skilled journalist to help launch Baltimore's free daily and Web site for young adults."

  • SIGNAL Magazine is looking for an Assistant Editor.

    Top of post

    Hat Tips: DCRTV, TVNewser, IWantMedia, Romenesko, MediaBistro, JournalismJobs, JournalismNext

    New Career Opportunities Daily: The best jobs in media


  • Day in the Work Life: Theater owner

    October 02, 2008
    posted by admin

    It's not the most lucrative business in town, but a life in the theater has it's perks. On this week's A Day in the Work Life, we meet Off-Broadway theater owner Peter Martin.


    Polishing the Rust Belt Parts 1-4

    October 01, 2008
    posted by admin

    Download Quicktime File

    In the Lehigh Valley of Pennsylvania both economic recession and recovery exist in the shadows of one another.  Here’s four videos in a selection of the diverse perspectives of Democratic small business owners on the race for the Democratic nomination for President.


    Work at Home Moms Talk Radio #222

    September 30, 2008
    posted by admin

    My featured guest this week is Vera Raposo, the mastermind behind ScrapVenture and new owner of Small Business Branding. Vera has been my guest before and she has blessed me by coming back to share how her business has grown. You’re going to be inspired by Vera’s story and [...]


    Meet the Masters with Mindy Weiss,...

    September 29, 2008
    posted by admin


    Mindy Weiss, owner and principle planner/designer of Mindy Weiss Party Consultants is described by People magazine as âthe mega-star wedding plannerâ.  She has worked with A-listers such as Eva Longoria & Tony Parker, Heidi Klum & Seal, Kate Beckinsale & Len Wiseman, Shaunie & Shaquille OâNeal, Gwen Stefani & Gavin Rossdale, and Trista & Ryan of ABCâs âThe Bacheloretteâ to name a few.  Join us as we talk with a savvy & knowledgeable event professional who has planned more than 700 weddings and has just authored a book called The Wedding Book: The Big Book for Your Big Day. Itâs a book for every bride and groom whether you hire a planner or not; whether your wedding costs $10,000 or ten times that.  This comprehensive resource includes real questions and answers, checklists, schedules, budgeting tools and timelines.  Mindy wants to save you from having to worry about the right way to do things. 

    In this Meet the Masters find out how Mindy got her start in the weddings and special events business.  Who was her first star client?  What does Mindy love most when designing weddings?  What lesson will you learn when you plan your wedding?  What is her favorite flower and why?  What are some of the happiest choices brides have made over the years?

    Planning a wedding is a major undertaking and quite overwhelming.  Want to know your wedding IQ? Mindyâs book has a great quiz called: What kind of bride are you?  Find out if youâre a Dreamer, a Perfectionist, a Rookie, or a Nonconformist.  Whose comfort should you always keep in mind?  When budgeting what are the first things to go?  What are the best splurges?  If things go wrong will anyone notice?  Should you depend on friends to provide services for your wedding?  How can you cut your guest list?  Mindy is a dedicated expert that really understands the total wedding planning experience from engagement to marriage.

    Part of being a stress free bride is being an organized bride.  Learn about Mindyâs hip and stylish bridal gift collection that she designed for Twoâs Company.  We conclude this Meet the Masters talking about The Kiss.  Many couples worry about their kiss being too short, too long, too passionate, or not passionate enough.  Plus Mindy shares one more must hear tip and you have a chance to get a complimentary copy of Mindyâs fantastic book. Mindy believes that your wedding will be a beautiful, extraordinary event and the only nonnegotiable element is your choice of spouse!

    Click here to listen

    Mindyâs Website& Book Tour Schedule

    See more of Mindy's products here


    Check out the blog scene onWPN Links page

    Find great resources inThe Marketplace

    To subscribe to our podcasts click here

    Thanks for making us the most popular wedding podcast network on iTunes with the the most wedding podcasts in the top 100.

    Subscribe in iTunes right here


    Recently voted "Best New Wedding Resource" by a survey of brides.

    Wedding Podcast Network has the largest, most comprehensive selection of wedding planning podcasts.  We are wedding talk radio at its best.  Proud to be the number one resource for wedding planning podcasts. 

    We love your feedback.  Send us an email or call our listener hot line 800.882.1259.

    Another great wedding planning podcast from Wedding Podcast Network

    Thanks for listening.

    Often imitated but never, ever duplicated.  The wedding planning podcast with integrity.



    Neotrope Selected to Provide Internet...

    September 28, 2008
    posted by admin

    LOS ANGELES, Calif., April 25 (SEND2PRESS NEWSWIRE) -- Neotrope(R), a leading advertising, PR, and Internet Marketing firm established 1983, today announced it has been chosen by a cutting edge creative commercial finance company, Lease With Crystal (www.Leasewithcrystal.com), to provide promotion and brand development for their company and Website.

    NeotropeAs part of this program, Neotrope will provide its proven ContextEngine(R) search engine Deep-Linking Technology, first introduced in fall of 1996. "We've been searching for the proper vehicle to launch us onto the laptops and office desks of business owners for some time now, this absolutely shows us the way," said Crystal Riley, of the Lease With Crystal namesake.

    About Lease With Crystal
    Lease With Crystal brings a big business know-how and a friendly simplistic approach to their clients in the equipment leasing world. The goal is to help businesses stay competitive, and afford the equipment they need now. "All clients benefit from our skill of matching the right business with the perfect custom leasing program - regardless of the industry. From lasers to tractors, we make growth possible, all while saving cash flow," Riley says.

    Lease With Crystal is a brand new company, established in 2008, affiliated with Lease One which has over 19 years of industry experience. More information on their Equipment Leasing programs can be found at: www.Leasewithcrystal.com/leasing.htm.

    About Neotrope(R)
    Based in Torrance California, Neotrope (www.neotrope.com) has been helping small-to-medium businesses and entertainment companies establish their brand and grow revenue since 1983. Neotrope has launched over 600 Websites since March of 1995 and has developed "patent worthy" proprietary solutions for Internet Marketing and search positioning. Send2Press(R) Newswire, a service of Neotrope, offers best-in-class affordable news distribution for small-to-medium businesses. Send2Press also leverages Neotrope's ContextEngine(R) press release optimization technologies and PRTRax(TM) reader tracking for business intelligence. 2008 marks the company's 25th Anniversary.

    Neotrope President/CEO Christopher Simmons is a leading authority on press release optimization, an award-winning multimedia designer and journalist, and is a member of the Public Relations Society of America, and ASCAP. A noted technologist, Mr. Simmons is frequently interviewed by organizations like Entrepreneur(R), Chicago Post Tribune, PC World(R) and Trendwatch.

    More information: Send2Press.com/services/internet_marketing.shtml.

    Copyright © 2008 Send2Press® Newswire, a unit of Neotrope®
    TAGS: Send2Press Newswire, business equipment leasing, Neotrope interactive marketing


    Success Secrets: Kendall Summerhawk,...

    September 27, 2008
    posted by admin

    Success Secrets image by Shannon CherryAs part of Success Secrets: this and every Friday, we talk with entrepreneurs and other professionals about building a business.

    Today, we interview Kendall Summerhawk, a marketing and branding coach, and owner of KendallSummerhawk.com

    (Images courtesy of Shannon Cherry of BeHeardSolutions.com)

    Tags: entrepreneurs, Kendall Summerhawk, marketing, start-up, startups, Success Secrets


    Immigration raids net hundreds

    September 26, 2008
    posted by admin

    Immigration and Customs Enforcement agents remove evidence from a restaurant in Cheektowaga, N.Y., Wednesday April 16, 2008. A Buffalo-area restaurant owner and nine business associates are accused of smuggling illegal Mexican immigrants into the U.S. to work in restaurants in New York, Pennsylvania, Ohio and West Virginia. Federal immigration agents raided Pilgrim's Pride poultry plants in five states Wednesday in a crackdown on an alleged scam to provide fake identification for illegal immigrants, authorities said.



    Linux Comic Strip!

    September 25, 2008
    posted by admin

    Check it out. The article

    http://www.rlhc.net/blog/2008/04/15/linuxcom-comic-strip-aims-for-a-fun-way-to-educate-new-linux-users/

    and the strip.

    http://www.hackettandbankwell.com/

    Woody_hackett_and_jerome_bankwell_w

    Hackett and Bankwell #1

    Synopsis: Woody Hackett learns from his business partner, Jerome Bankwell, that they are the new owners of a documentary production studio that still uses Mastersoft, and that he will need to travel to their facilities in the desert in order to get them setup with Ubuntu Linux. At "Interplanetary Pictures," Woody shows their crew how to get started using the Ubuntu GUI following an installation. Guiding them through some basic software installation, Woody demonstrates to Kaori Soto and her associate Calvin Green basic ideas of GUI operation, so that they can use what they've learned to install other programs they might need down the road.    Areas covered in first issue

    • Preview Hackett and Bankwell #1 Here (.pdf)
    • Order Hackett and Bankwell #1 Here


    Book Review: Bulldozed - "Kelo,"...

    September 24, 2008
    posted by admin

    Bulldozed_home"If you can fight blight, why not create beauty?  If not beauty, why not bounty?"

    With that phrase, author Carla T. Main, in Bulldozed: "Kelo," Eminent Domain, and the American Lust for Land, accurately and succinctly sums up the devolution of the Supreme Court's view of the role of judicial review in eminent domain from Berman, to Midkiff, to Kelo.

    Bulldozed is accessible to both lawyers and non-lawyers, and is no dull scholarly summation of the current state of Public Use Clause law.  Rather, it places the issues in an understandable context by framing the legal details with the story of the Gore family of Freeport, Texas, and their straight-out-of-Forrest Gump shrimp processing business.  The taking of the Gore's property and business for Freeport's "economic development" resulted in the case Western Seafood Co. v. United States, No. 04-41196 (5th Cir. Oct. 11, 2006) (a case I blogged about here). Main provides more details and background than the court's dry recitation of the facts ever could, and in between recounting the Gore family's story, provides the reader with an understanding of how we ended up with a case like Kelo, a decision that seemed to baffle a majority of the public. 

    Main begins at the birth of the Fifth Amendment and James Madison's concern that private property rights would not be respected by the newly formed United States, and tells the stories behind many of the seminal cases on eminent domain:

    • West River Bridge Co. v. Dix, 47 U.S. 507 (1848), Daniel Webster's case in which the Court held that the Contracts Clause was no impediment to a state condemning an exclusive bridge franchise. 
    • Berman v. Parker, 348 U.S. 26 (1954), the case in which the U.S. Supreme Court first equated the condemnation power with the police power, and held, in sweeping language by Justice Douglas, that "public use" under the Fifth Amendment includes takings for 
    • Poletown Neighborhood Council v. City of Detroit, 304 N.W.2d 455 (Mich. 1981), overruled, County of Wayne v. Hathcock, 684 N.W.2d 765 (Mich. 2004), the case which opened the door to economic development takings, where an entire neighborhood was cleared to make way for a General Motors plant, based only on Detroit's hope that what was good for GM was good for Detroit.

    The only case really missing from the lineup is Hawaii Housing Auth. v. Midkiff, 467 U.S. 229 (1984), the opinion authored by Justice O'Connor that set up her dramatic turnabout in her dissenting opinion in KeloMidkiff is a fascinating story and could be the subject of another book, so on the whole, it's a minor omission from Bulldozed.

    Main also details how beginning in 2001, the courts began to take public use objections seriously, especially in the context of economic development takings, where one person's private property is transferred to another because the new owner promises to make more intense use of it.  This awakening by the courts culminates in the Supreme Court litigation in Kelo v. City of New London, 545 U.S. 469 (2005).

    Of course, given the title of the book, an entire chapter is devoted to the arguments in Kelo, the case which brought eminent domain squarely to the American public's consciousness.  The Kelo backlash is the subject of another entire chapter.  These sections are among the more enjoyable and accessible in the book.  They detail the high drama of legal cases that make their way to the Supreme Court, and highlight the depth of emotion and passion aroused when people's homes, businesses, and neighborhoods are threatened.

    Anyone who may wonder why property owners fight the taking of their property and businesses, despite the often overwhelming array of government power leveled at them need to read BulldozedBulldozed is available from Amazon.


    Russian Agency Mandating Wi-Fi...

    September 23, 2008
    posted by admin

    Russian Agency Mandating Wi-Fi Registration According to the online newspaper Fontanka.ru (Russian) Russia's mass media agency Rossvyazokhrankultura believes it has the authority to require Wi-Fi users to register their Wi-Fi devices and obtain a non-transferable permit to use them—and, furthermore, that it can confiscate devices from anyone who doesn't follow its rules. According to its deputy director Vladimir Karpov, registering a phone or PDA with Wi-Fi capability would take 10 days, and the owner would be the only person licensed to use the device. Registering and operating a Wi-Fi hotspot, whether in a home or business, however, would need to file more extensive documentation and c

    Read | Permalink | Email This | Linking Blogs | More Images | World News


    The Morning Newsfeed: 04.17.08

    September 22, 2008
    posted by admin

    arrow_hp.jpgClick here to receive mediabistro.com's Daily Newsfeed via email.

    17reuters.enlarge.jpgA Name to Herald Its Merger: Thomson Reuters (NYT)
    Today Thomson Corporation, a leading provider of electronic financial, medical, and legal data, officially completes its takeover of Reuters, the venerable British financial information provider and news agency. Entire subway stations in New York, Toronto, and London will be decorated with the company's new name, Thomson Reuters, and its new logo, a series of encircling dots.

    Potter Lexicon Trial Comes to an End (AP via USAT)
    A three-day trial over an unauthorized Harry Potter encyclopedia ended Wednesday with a flash of anger from J.K. Rowling. The best-selling British author returned to the witness stand and told a judge that if he allows the fan-written lexicon to be published, it will clear the way for countless rip-offs of her books, as well as the work of other popular authors.

    Publisher David Hiller: Zell Won't Sell LA Times (Forbes)
    David Hiller has been in the hot seat ever since he was appointed publisher, president, and chief executive of Tribune Co.'s Los Angeles Times in October 2006. Here he talks about challenges facing the Times and the newspaper industry, saying the company's priority is to continue aggressively building out its online business. He also says that owner Sam Zell has indicated he won't sell the paper.

    continued...

    New Career Opportunities Daily: The best jobs in media


    Are You Smart Enough to Say It Simply?

    September 21, 2008
    posted by admin

    Today, we’ll share a recent experience with an intern and a doctor. The intern explained what was going on, and we understood almost none of it. He only used medical terms. When we questioned him, he compounded it with even more technical words. A great guy, but he didn’t communicate effectively.

    Then we talked to the doctor. The doctor explained everything in human terms so we fully understood. Sure, she used technical terms, but she quickly explained what they meant in layman’s language.

    She was smart enough to say it simply!

    So from that we can only conclude that women are better communicators than men!

    Okay, that’s not what we’re saying. It’s not about gender, it’s about these three factors:

    #1 – Personal characteristics

    Consider two ends of the spectrum – on one end, there are people who lack confidence. On the other end, there are people with ego.

    Confidence. These people may be somewhat new to the subject they’re trying to explain so they’re not that sure of themselves yet. They’re uncomfortable talking about it. So they talk about it the way they learned it – in technical terms. It’s a nervous reaction.

    Ego. These people are experts and they want you to know just how smart they are. They may even be arrogant. They’re smart, but not smart enough to realize how important it is to clearly communicate with their audience.

    #2 – Communication skills
    This is about preparation. They know they have a message to relay, but they don’t put any thought into how to relay it. They’re very skilled in their profession, but they don’t know how to communicate with the average Jane or Joe.

    #3 – People skills
    They’re not able to read the people to whom they’re talking. If they get a blank stare, it doesn’t register that the person doesn’t understand. These people are brilliant in their profession, but they lack the ability to connect with people, especially those outside their profession.

    2 tips to say it simply
    Here are two questions to ask yourself about your audience before you try to communicate with them:

    Question #1 – What is their level of understanding about your subject?
    The answer to this question will help you determine how you form your message. If you’re talking to a colleague, you can go crazy with all that jargon you love! If you’re talking to someone outside your profession, keep it simple!

    Question #2 – What do they need to know?

    If the CliffsNotes version will do, don’t recite the whole book! Determine what’s really important and leave out all the rest. They’ll ask you if they want more.

    It’s smart to keep it simple!

    Our bigg quote today comes from the French philosopher, Voltaire:

    “If you wish to speak with me, define your terms.”

    And limit those terms to terms of use by your audience.

    Click on our Comment link below to share your thoughts 
    Click on the Share This button below to Digg, Stumble, Mixx, etc.

    Next time, we’ll offer guidance to a business owner who’s going through tough times. Until then, here’s to your bigg success!

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