Monday, September 24, 2012

Handle Business Disputes

Suggestions for Handling Disputes
Any conflicts involving customers, employees or suppliers, or a partner, is very disruptive. Disputes and conflicts cannot be allowed to escalate because of the damage they can cause. There are ways of dealing with disputes, to arrive at an agreement or resolution where all parties concerned are satisfied.
Here are a few suggestions for handling a dispute:
  1. Focus on your long-term interest. Try to find an outcome where your business retains its best interests as its main objective. Don't get obsessed with winning a particular dispute or conflict if that is not necessarily the best position for the business in the long run.
  2. Find something simple and quick, and resolve that first. The best resolution is usually that which can be quickly agreed to. The longer a dispute drags out, the more costly it will become and the heavier the disruption to your business, as well as your own personal life. Even if there is some cost involved, it is far better to settle the matter fast.
  3. It's not personal - it's business. If you are in business, you will have to get used to the fact that you will be a target of complaints from someone, whether it be a customer or supplier. No one is perfect and no business is perfect, so expect that things may not always work out as planned. However, you have to ensure that you don't take these attacks personally, but try to focus on the issues involved, rather than the personalities involved. Remember it's not personal - it's business.
  4. Avoid court. If you can avoid it, do not go to the courts with your quarrel. Using lawyers and the court's time is an expensive exercise and can tie up the business and yourself for some period of time. It also creates a lot of stress, which could be avoided by settling for something a little easier or acceptable to both parties. The trick is to avoid going to the law unless there is no other solution. If at all possible, have open discussions with the other party, as they will also understand the time and cost wasted by going to the court. It is far better for both parties to work out a solution outside of legal action. This should be the priority or aim of a meeting set to resolve a conflict.
  5. Find if there is an alternative to resolve the dispute. You may like to investigate whether mediation or arbitration is a fair alternative of finding a resolution. Mediation simply provides for a neutral third party to sit in on discussions while the two parties try to come to a resolution. Mediation is not binding on any party; it is a means of opening up communication to find a resolution. Arbitration however is where two parties sit before a person, known as the arbitrator, who will make an award or decision after hearing both sides of the story. The decision of the arbitration is binding.
  6. Conflicts need to be Resolved Delicately. Conflicts are inevitable. The sooner you as a business owner realise this, the better. The trick is to try and arrive at a positive outcome, so both parties are happy. You need to remember that each party has different priorities and agendas and they are looking at the conflict from two different perspectives. There are certain characteristics, however, that come across and these include:
    • People hate to have others disagree with them.
    • People definitely like others to agree with their views.
    • People love to be agreed with.
    • People don't like others who disagree with them.
    • People who are good at resolving conflicts look for a point of agreement and use their skills to get the other party to see their point of view.
    Resolving the conflicts can be a delicate exercise. The only way to win in a conflict is to arrive at the position where both parties leave the meeting feeling that at least they have won something. That is, try to find a win/win solution. If you don't, and you win your argument, you may take home more cash or win on the issue, but you will lose a customer, client or friend forever. Try and see if it is possible to go down the middle, where each party leaves with a 50/50 win and there is satisfaction, because 50% is better than nothing. There is also the realisation that the other party got away with only 50% (rather than 100%) of what they wanted as well. Always try for win/win and try never to allow the conflict to escalate too quickly or too far, certainly not to the point where it is difficult to recover the position.

Monday, September 10, 2012

Nevada Incorporation Services to Avoid Costly Mistakes

Incorporating in Nevada has many outstanding benefits for savvy entrepreneurs who incorporate their businesses in the silver state. However, you must take care in setting up the corporation correctly if you are to take advantage of the tax advantages and liability protection benefits Nevada has to offer. If you are new to Nevada corporations, you will want to use a qualified nevada incorporation service to set things up right from the start. People who try incorporating in Nevada themselves can easily set themselves up to be in hot water with the IRS if they are selected for an audit. The IRS pays special attention to Nevada corporations when selecting candidates for an audit, so it is imperative that a Nevada corporation be set up with care.
Common Nevada Incorporation Mistakes
Business owners new to incorporation in Nevada most frequently make the following mistakes when forming a Nevada corporation themselves:
  • Failing to have employees in the corporation
  • Not having adequate proof of Nevada-based operations
  • Allowing independent contractors corporate benefits intended only for employees
  • Not issuing stock

Nevada Incorporation Services ChecklistIf you decide to go with an incorporation service, make sure you go with a firm that has experience with Nevada incorporation. Compare what they offer to the list below. A quality incorporation firm should offer the following services as part of its package:
  • Creation of the Articles of Incorporation
  • Filing of the Articles with the Nevada Secretary of State
  • Filing of Initial Officers, Directors, Agents or Members
  • Arrangement for official place of business
  • Arrangement for local telephone service
  • Arrange for contracted employees of the corporation to answer telephone calls during business hours
  • Assistance in opening a Nevada bank account
  • Resident Agent services
  • Mail forwarding
  • Obtaining a business license (usually this will be in the state capitol, Carson City)
  • Federal Tax Identification Number (EIN)
  • Creation of a Corporate Charter
  • Offers stand-in nominee officers so that the names of the officers are not listed in public records. This strategy offers an additional layer of privacy from prying eyes. You can vote these officers out of office at any time, and they will not have any signature authority with the corporation.

ConclusionIncorporating in Nevada can be one of the most critical steps you can take in your new business venture. Combined with careful investigation and use of professional Nevada incorporation services, you can have peace of mind knowing your Nevada corporation is providing you with the best in domestic asset and revenue protection.

Monday, September 3, 2012

7 Point Checklist for Business Letters

I don't claim to be a good advertising writer. But over the years, I've sent hundreds of business letters. Here are a few things I try to include in each of them:
l. The headline, first sentence, and P.S. are usually the best-read parts. They need to dramatize an offer, or focus on the reason the letter was sent.
2. Most letters should emphasize a single theme. Everything in the letter should relate to that theme.
3. Use active, descriptive words.
4. Show customers how to solve a problem. In a letter to your customers, this might involve MAKING or SAVING money.
5. Readers relate to "success stories." Can you tell them how you've solved a specific problem for other customers?
How about running an "open letter to customers?" Detail your plans for your company's future, or for an upcoming trade show. Tell how your reader can benefit.
6. One major question companies ask is "How do we get more response - or feedback - from a letter?"
Here are a few ideas: give away something free; offer that item or service in the first sentence; use a color marker (perhaps red or blue) to highlight the letter's main points; give readers a reason to contact you by a specific date; put a toll-free number, e-mail address, phone, and physical address in the letter.
7. "The pain/gain concept" is an idea that's been around for years. In it, you talk about (1) the pain or problem your reader may have, and (2) how your company, product or service can solve it.