Have You Mapped Out Your Success?
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whatUseek Weekly Contents
1) Article: Mapping Out Success
2) Contest: Enter To Win - Your Ad In 3 Issues ($119 Value!)
3) Weekly Marketplace: Exceptional Products and Services
4) Article: Your Credit Could Stop You
If you have an informative article that you would like us to feature, please email your article to editor@whatuseek.com. If we use your article, a link to your web site will be featured as well.
1) MAPPING OUT SUCCESS
Most Internet start up companies (pre-funding) are made up of a small core group of people, who share the same vision. In an ideal situation, each person brings unique talent, experience, and value to the company. For example, a new Internet start up made up of all computer engineers would be missing some key elements of success. They would need bus-dev (business development) experience as well as operations and administration (real world business) experience, in order to successfully develop and operate their company.
Assuming that you have your people in place, as a group you will need to decide what your end goal is. Once you know what your end goal is, you can map out the steps to get you there. Work your way backwards in the planning process. Try it out it really works!
Have ever tried a Maze puzzle? Have you ever noticed that it seems easier to start from the FINISH point and work backwards? When you begin the puzzle from the START point, you always end up taking wrong turns, hitting dead ends, etc. But when you work backwards, you avoid all the wrong turns and get to the START point with no errors.
Once you know what your end goal is, and you have worked your way backwards and have mapped out how you are going to reach that goal, as a group, make a task list. Everyone needs to agree on this master task list. On the task list, be specific and delegate who is responsible for accomplishing each task, and assign deadlines for each task as well. If one person is holding up the success process, it will be evident to the entire group.
Every Monday, Wednesday, and Friday, conduct a one-hour meeting to discuss results, review previous task lists, and map out new task lists. If 3 weeks later, you find that all the tasks from the first week have yet to be accomplished, your company is suffering from one of the following ailments:
1. Mistaking efforts for success.
Many young companies or new entrepreneurs make this error. You cannot mistake effort for success. Your efforts must produce RESULTS. If your company is to succeed, you must focus on concrete results and not be satisfied with nebulous effort on the part of any member of your team.
2. Holding back the punches - not being completely honest.
I asked a successful entrepreneur, who recently sold his company for millions of dollars, why he and his team were able to succeed so fast in their space. His answer was:
"Don't hold back the punches. It slows everything down. We didn't always agree on everything, and we were not afraid to speak out if we didn't agree. Then as a group, we would vote and make the final decision and go with it. Doing it any other way just slows everything down."
Mapping out your plan to success just makes sense. Let's say that you and I are in Michigan and we want to drive to Florida, separately. I plan my route on a map and will get to Florida within two days. You don't plan your route because you know that by driving Southeast, you will eventually get to Florida. In the end, we both will get to Florida... but I will get there without taking wrong turns and getting lost, because I mapped out my route.
BOTTOM LINE: If you don't map your plan to success, your competitors will beat you every time. You may get there eventually, but by the time you do, your competitors will have a much bigger lead.
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2) CONTEST: Find the ad that is listed twice in the WEEKLY MARKETPLACE section and email a copy of that ad to contest@whatUseek.com (this is your entry). If we pick your entry, you will receive a 3-issue classified ad package for FREE (a $119 value!). Winners picked each week, so send in your entry today!
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3) WEEKLY MARKETPLACE
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4) WARNING - YOUR CREDIT COULD STOP YOU COLD!
by R. L. Helberg,
Christmas 1999 is a memory, but paying the bills from Christmas spending starts now. The average person spent $894.00 on Christmas. Much of this amount, especially Internet spending, was on credit cards. There are closely guarded secrets and ratios for credit card debt and you may have unknowingly crossed the line. The result: If you are considering a major purchase like a mortgage, a car, or a consumer loan, your credit could stop you cold!
WHY?
The secret ratio of debt to allowable debt is 50%. Your "allowable" debt is your credit limit and your "debt" is your current balance (read further for a detailed explanation).
-Under 50% allowable debt ratio your credit scores usually have no point deductions
-Under 25% is even better and your credit scores may actually have points added for good debt management
-Over 50% shows poor credit habits and points are deducted and your credit score will be lowered
Points are added or deducted on a sliding scale. This scale is based on a mathematical formula that compares your credit to a group of people with very good credit habits. The points vary from changes within this "Good Credit Group", so it is best to concentrate on behavior modeled after this group. Their debt ratios are usually from 0% - 50%.
HOW DO THE RATIOS WORK?
If you have a credit card with a $5,000 credit limit, this is your "allowable debt". The amount you owe on your credit card, say $3,000, is your current balance or "debt". Your ratio in this case would be 60% (debt of $3,000 divided by allowable debt of $5,000 equals a debt ratio of 60%). This is high, but it could be worse! Now Christmas spending comes into play and your debt ratios become higher than normal, causing your credit scores to be lowered. This could be a temporary situation if you pay your debt down faster than the minimum monthly payment required.
WHAT IS THE WORST CREDIT MISTAKE YOUR CAN MAKE?
Never exceed your allowable debt limit, even by one cent! If you exceed your credit limit on a credit card by any amount, your credit scores can drop by as much as 50 points or more
-for each occurrence
-for each credit card
WHAT A HIT! You could go from excellent credit to bad credit overnight. Your credit could become so poor you are either denied further credit or charged exorbitant interest rates. If your balance exceeds your credit limit, your credit card company will slam you with a higher interest rate. You may never go back to your normal rate again. Quite a high price to pay for a little heavy spending in December.
WHAT CAN YOU DO?
Get below your credit limit as soon and as far as possible. Once you are below the limit, wait at least 30 days for your credit scores to adjust upwards (they will - barring other credit problems). It takes at least 30 days for your credit card company to report your changed information to the 3 credit bureaus. Sometimes even longer! This is one key reason to check your own credit reports on a regular basis.
HOW DO YOU OBTAIN YOUR BEST CREDIT SCORES?
You can use the following items as a starting point:
-Reduce your credit card debt as soon as possible
-Strive for debt ratios below 50%
-Try to never exceed your credit limits
-Safeguard your credit from credit theft
-Clean up all 3 credit reports at least once a year
-Don't allow numerous credit pulls
-Have old and unnecessary information removed from your reports
IS THERE MORE?
YES
-Understand how credit scores affect your financial life
-Discover how to shop smart by knowing your own credit score
-Learn how to fight for the best interest rates (and win) by knowing your credit reports and what's on them
-Investigate how you can manage high debt yourself, before getting a loan or using a service
-Acquire the ways to reverse a late payment on a credit card
-Master your 3 credit reports and every detail on them
-Take command of the power to raise your credit score up to 100 points in under 30 days
This information and so much more is available to every individual, if they only know where to look. Don't go to a counseling service or a lawyer for things that you CAN AND SHOULD know yourself. Put your money in your pocket, to pay down your bills and control your financial situation yourself! Seek out professional help that will show you how to do all of this, and more, on your own. With the right instruction, you should know how to take care of your own credit reports for the rest of your life! This must also be something that can be done quickly, easily and privately. We hope that you have learned some valuable information that will help you now and through the 21st Century. If so, congratulations!
If you would like professional help, you can visit our website at: http://www.edigger.com and we will be glad to share more tips, techniques and inside information to control the power of your credit reports.
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About the author:
R. L. Helberg
Everyone has a credit score - what's yours? Your credit report score is determined by a large number of different items.
Visit http://eDigger.com
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The whatUseek Weekly Ad Rates:
Run your classified ad in one issue of The whatUseek Weekly Ezine. If you are on a limited budget and need a quick boost in sales, this is the right package for you!
1 issue - US $ 44.00
3 issues - US $ 119.00
6 issues - US $ 220.00
TOP SPONSOR POSITION
1 issue - US $ 303.00
SECOND SPONSOR POSITION
1 issue - US $ 220.00
VISIT NOW: http://weekly.whatuseek.com/buyad.shtml today to reserve a space for your classified ad today! Direct questions to
buyad@whatuseek.com.
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Published weekly by subscription only.
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If you have an informative article that you would like to share, please email your article to editor@whatuseek.com . If we use your article, you will get great exposure and a link to your site.
Have a great week!
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