Modern Opportunity

 
 

Business opportunities for Long Island and the world!

 
 

A publication of Lexicon Express, Inc. Francine York, publisher

 

Modern Opportunity - Your Source for Business Opportunity

Welcome!
To the January 2004 Edition of
Modern Opportunity Newsletter/Ezine

The Staff of Modern Opportunity Wish Each of You and Your Families
a Warm, Happy, Peaceful and Successful New Year!

“Enthusiasm is available to all. May your year be filled with golden sunshine, greater prosperity, and may you reach new heights of achievement.” -Author Unknown

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Success Quotes of the Month:

"New Year's Day is special only as a symbol of a new beginning.
The realty is that every day is a new beginning, a new chance to create the life that we desire."
- Kevin Eikenberry, speaker, consultant, and author

"The winds of grace are blowing all the time. You have only to raise your sail."
Ramakrishna (1836-1886) Mystic

"Either I will find a way, or I will make one."
Philip Sidney (1554-1586) Writer and courtier

"Live in your hopes and not in your fears."
Johnny Majors, College football coach

The truth is that all of us attain the greatest success and happiness possible in this life whenever we use our native capacities to their greatest extent.
Smiley Blanton (1882-1966) Speech pathologist

"One man has enthusiasm for 30 minutes, another for 30 days,
but it is the man who has it for 30 years who makes a success of his life."
-- Edward B. Butler, artist

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Dear Subscribers,

This newsletter is for you, please feel free to email me directly
with any ideas, comments, topics you would like to read about, etc.... ________________________________________________________________________________________

TIP of the Month

If when you click on a button nothing seems to happen, it could be because the window is hidden behind other browser windows. In that case check other windows on your taskbar until you find the one you need. To prevent that from happening though, always make sure you close pop up windows after use.
Tip by Bob Osgoodby, publisher of Tip of the Day

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Read Andrew Linick's article..."21 Ways to Increase Your Sales Inquiries by Improving Your Advertisement."

Read Elena Fawkner's article..."Choosing the Right Home Business For You"

Read "Choosing the Right Business Structure"
By Eliatt Di Lieto, CPA, CVA

Read Tim Minnick's article..."A Web Site: To Have or Have Not"

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"21 Ways to Increase Your Sales Inquiries by Improving Your Advertisement."
By Andrew S. Linick, Ph.D.

Sometimes in advertising it becomes advisable to secure as many inquiries as possible.
For the sake of easy reference and at the risk of repetition, 21 effective methods for increasing replies are listed below. These methods may be divided into two general classes:

1- The methods that increases inquiries by increasing the total effectiveness of your advertising. For example, the use of long copy plus an interesting headline increases the total effectiveness of an advertisement, and the increase in replies is merely a by-product of a better advertisement.

2- The methods that increase ad replies but do not increase the total effectiveness of your advertising. For example, a picture of a free booklet with a sub-caption "get this book free" will get more inquiries, but it does not make your advertisement any better.

1-Mention the offer in the headline.

Suppose your headline is "How to retire on an Income". You can increase the response by changing it to read "Free booklet tells how to retire on an income!" Suppose your headline is "Stout Women" You can increase response by changing it to read "free to Stout Women"

Here are other examples:

Yours for only 1c-this lovely box of greeting cards
Free sales kit make up to $50 a day
Given to you-the Oxford Dictionary
Free Ski Guide
Home Repair Book-read it 7 days free

2- Emphasize the word "FREE"

You can increase replies by putting the word "FREEE" in big print or in capital letters. In broadcast advertising and in print advertising, you can repeat the word "free" several times. Or, you can frequently repeat phrases that mean essentially the same thing, such as "Send not money", "Don't pay a penny" or "Yours without cost". However, the FTC requires that the "terms of conditions imposed are conspicuously disclosed in immediate conjunction with the offer."

3-Mention the offer in a subhead

Then subhead may follow immediately after the main headline like this:

(Main headline) New electronic calculator

(Subhead) Free ten day trial

Or, the subhead may be placed in the middle of the as or near the end. Here are typical subheads:

Send for liberal supply
The facts are free
Write for booklet
Special $1 offer
Free talent test

4-Show a picture of the booklet or sample

If you have lots of room, you can show the booklet or sample package in large size. Your layout can include eye-catching devices such as an arrow or a hand pointing at the booklet.

The speed with which an offer registers on the eye if the reader is important. Therefore, one of the best inquiry-getting layouts is picture of the booklet with the word "free" printed alongside of it or under it.

In small ads you can save space by reducing the picture of the booklet down to the size of a postage stamp. You can even cut it in half and show only the half of the booklet. If your booklet title is hard to read in reduces size, you can reset the title on the ad artwork in readable type before you make your reduced size cut.

In TV commercials you can have the announcer hold up the booklet or gift all wrapped and ready to mail. He can point to the address label and say "Send me your name and address so I can put it right here and mail this free gift to you."

Incidentally, the phrase "free gift" is especially good in both printed and broadcast advertising because this phrase says free twice in just two short words.

5-Include Testimonials

An ad for an income tax guide included testimonials for a homeowner, a salesman, a professional man, a housewife, etc. For example:

Salesman: "I use my car for selling and do a lot of entertaining. I thought I had deducted everything until your Income tax guide showed me 16 deductions I never thought were allowable."
Housewife: "Saving on my husband's salary isn't easy. I thought tax returns were a man's job until your income tax guide showed me how many of our expenses are deductible---like the clothes I donate to the Salvation Army."

6-Sweeten the offer

The ad for the Income Tax Guide mentioned above contained this paragraph:

Special Free bonus: Filled on Tax forms…To give you every possible tax savings- and to save you time and trouble you will also receive a 16 page booklet of sample tax forms, completely filled in for your guidance. This is yours to keep, even if you return the Income Tax Guide for refund.

A series of ads for General Electric light bulbs offered "a booklet about light and seeing." It was desired to increase replies and so a free gift was offered in addition to the free booklet.

An airline wanted to increase replies from ads about flights to Bermuda so that sales literature could be mailed to as many prospects as possible. A free booklet offer did not pull sufficient replies, and so the following offer was used and brought excellent results.

Absolutely free---A Bermuda Vacation Kit. The Kit contains detailed map of Bermuda and photographs and descriptions of the big, luxury Air Liners. Included I the free Kit are a pair of Bermuda sunglasses.

If you have been charging 25c for your booklet, you can, of course, increase replies by reducing the price to 10c. If you want to get the 10c for your booklet and at the same time feature the word, "free," you can use the following wording: "Free booklet. Enclose 10C to help cover cost of handling and mailing."

[Editor's Note: Dr. Andrew Linick, Ph.D., The Copyologist©, states that he has sold 750+ million dollars worth of products & services for clients and himself by direct mail/mail order since 1968. For more details about his classified ad writing services, contact him at The Linick Group, Inc., Linick Building, 7 Putter Lane, P.O. Box 102, Middle Island, NY 11953-0102. Or call 631.924.3888. email

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"Choosing the Right Home Business For You " © 2000 Elena Fawkner

Pay any attention at all to your email inbox and you'd be forgiven for thinking that the only way to run a business from home is on the Internet. Sure, many people are running spectacularly successful Internet-based home businesses. Many, many more are doing so even more spectacularly unsuccessfully.

But what if you're not interested in running an Internet business? What if you want to start and run a home business the old-fashioned way? Where do you start?

Actually starting any home business is the easy part. The hard part's deciding what that business should be.

So how do you even start the process of deciding on the right home business for you? The key is to be methodical, realistic, objective and patient.

Step 1 : Personal Inventory

The first place to start is to inventory your skills, experience, interests, and personality characteristics. These are what you have to work with - your raw ingredients, so to speak.

Make a list of personal qualities and factors that you can throw into the mix. Include things like:

=> your personal background;
=> training and education;
=> work and volunteer experience;
=> special interests and hobbies;
=> leisure activities;
=> your personality and temperament.

All of these qualities and factors make up what you know and what you're good at.

Step 2 : Identify What You Like

It's one thing to know a lot about something or be good at it. It's quite another to enjoy it enough to want to make it your life's work. So, remove from the list you created in Step 1 anything that you don't really, really like doing or which plain doesn't interest you. No matter how good you are at it. If you're lucky enough to like what you're good at, as a general rule, stick with what you know.

Step 3 : Match Your Likes With Marketable Activities

If Steps 1 and 2 still haven't suggested feasible home business ideas, review the following activities that have proven marketable for others and weigh them against your "likes" from Step 2:

Crafts - pottery, ceramics, leadlighting
Health and Fitness - aerobics instructor, network marketing
for a health products company, home health care
Household Services - cleaning, gardening, shopping
Professional Services - attorney, architect, interior designer
Personal Services - make-up artist, hairdresser
Business Services - business plan writer, meeting planner
Wholesale Sales - antique dealer, dropshipper
Retail Sales - children's clothing, widgets
Computers - web design, internet training.

You get the idea. This is not an exhaustive list, obviously. You can visit the AHBBO Ideas Page for a list of over 500 home business ideas at http://www.ahbbo.com/ideas.html .

Step 4 : Make a List of Business Ideas That Fit With Your Likes From Step 2

By the time you're done, you'll have a hitlist of possible matches between your skills and interests on the one hand and home business ideas utilizing those skills and interests on the other.

Step 5 : Research

Armed with your list from Step 4, identify those ideas that you think have marketable potential and then research whether that belief is accurate. In order to have marketable potential, the idea must satisfy the following criteria:

=> It must satisfy or create a need in the market. The golden rule for any business is to either find or create a need and then fill it.

=> It must have longevity. If your idea is trendy or faddish, it doesn't have longevity. Go for substance over form in all things.

=> It must be unique. This doesn't mean you have to invent something completely new but it does mean that there has to be some *aspect* of your product or service that sets it apart from the competition. This is easy if you go for the niche, rather than mass, market. Don't try to be all things to all people. You'll only end up being too little to too many.

=> It must not be an oversaturated market. The more competition you have, the harder it will be to make your mark. It's unrealistic to expect no competition, of course. In fact, too little competition is a warning sign either that your business idea has no market or that the market is controlled by a few big players. What you want is healthy competition where it's possible to differentiate yourself from competing businesses.

This all gets back to uniqueness. If you can't compete on uniqueness, you must compete on price (or convenience). If you're forced to compete on price alone, that just drives down your profit margin. Not smart business.

=> You must be able to price competitively yet profitably. The price you set for your product or service must allow you to compete effectively with other businesses in your market, it must be acceptable to consumers and it must return you a fair profit. If any one of these three is off, move on.

=> Your business must fit with your lifestyle. If you're a parent of young children and you primarily want to start a business from home so you can stay home with them, a real estate brokerage business that requires you to be out and about meeting with rospective clients is obviously not going to work.

You'll instead need to choose a business that can be conducted entirely (or near enough entirely) from within the four walls of your home office. Similarly, if your business idea would involve having clients come to your home, you're not going to want an unruly 3 year old underfoot as you're trying to conduct business.

=> Your financial resources must be sufficient to launch and carry the business until it becomes profitable. No business is profitable from day one, of course. But some are quicker to break even than others. If your business requires a considerable initial capital outlay to start - computer, printer and software for a web design business, for example - it will take you longer to break even than if the only prerequisite was the knowledge inside your own head, such as working from home as an attorney.

If your financial situation is such that you can't afford to quit your day job until your business is paying its way, this, too, will mean it will take longer to break even than if you're able to devote every waking hour to your business. Just do what you have to do. That's all any of us can do.

Step 6 : Business Plan

Once you've gone through the above process and identified what appears to be the right business for you, the final "gut check" is to write a business plan for your business, much as you would for a presentation to a bank for financing. Include sections for strengths, weaknesses, opportunities and threats, and set goals for what your business needs to achieve for you, by when, and how you are going to get there.

There are plenty of good resources online about how to prepare a thorough business plan. A great place to start is at About.com (http://www.about.com). Just type "business plans" into the search box.

Although it may seem like a waste of time and effort to complete a business plan if you don't intend to seek outside financing, taking the time and exercising the discipline needed to really focus your mind on the important issues facing your business, you will be forced to take a long hard look at your idea through very objective and realistic eyes.

If your idea passes the business plan test, then you can be reasonably confident that this is the right business for you. If you come away from this exercise feeling hesitant, uncertain and unsure, either do more research (if the reason for your hesitancy and uncertainty is lack of information) or discard the idea (if it's because you don't think your idea is going to fly). If this happens, just keep repeating Steps 5 and 6 until you end up with an idea and a business plan that you're confident is going to work!

Although it's frustrating to wait once you've made up your mind to start a business from home, this really is one situation where the tortoise wins the race. By taking a ethodical, systematic and disciplined approach to identifying the right home business for you, you give your business the best possible chance for long-term survival, hopefully avoiding some very expensive mistakes along the way.

Elena Fawkner is editor of A Home-Based Business Online ... practical ideas, resources and strategies for your home-based or online business. AHBBO

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"A Web Site: To Have or Have Not " by Tim Minnick

Maybe you own an established business, or maybe you own a "new" business, or are thinking of buying a business, or starting a business for yourself. If you are any of these people, this question may or may not have crossed your mind, "Do I need a web site for my business?".

This article seeks to help you make that decision, notice I didn't say, this article seeks to answer that question for you. If you own a business or are thinking of buying or starting a business, you're an intelligent individual, perfectly capable of making that decision for yourself. I'll just present you with some information, objections and opinion and let you draw your own conclusion.

First, let's look at a couple of the most common reasons business owners think they may not need a web site, these are real objections from business owners with whom I have spoken concerning a web site for their business. For your business' sake… I certainly hope not, but maybe you think the same thing:

1.We don't have a computer and don't have Internet access at my business, so we don't need a web site. Please don't take offense, but a web site isn't for you to sit in your office and look at, thinking, "my, isn't that pretty". A web site is for your customers or potential customers to learn about you, your business and what products and/or services you provide. It's an opportunity for you to inform your customers, bring in new customers and most importantly an opportunity for you to increase your business' bottom line. After all, isn't your business bottom line what makes you money?

2.We've been in business for 30 years and have never advertised. We've always depended on "word of mouth". My hat is off to you, if you can say this… and I only hope your good fortune continues. But let's face facts. We live in a rapidly changing world. Due to an ever growing increase in population, a population that moves from one end of the country to the other, at any given time, for a multitude of reasons. While word of mouth has always been, and I'm sure will always be the best form of advertising, how about the families that just moved into your neighborhood and haven't made any friends yet, but they have Internet access. They don't have the resource that people that have lived there for 30 years do. Isn't that a missed opportunity?

You've read the objections and opinion. Here's the information:

According to the US Department of Commerce, Internet traffic doubles every 100 days. In the year 2000, there were approximately 102 million Internet users in the US alone. Today, 70% of America is on the Internet. In 1994 the entire Internet economy was $5 Billion, in 1998 that same figure was $301 Billion, and Forrester Research predicted that that figure would be $3.1 Trillion by 2003. Well 2003 is almost over, and the latest statistics available at the time of writing show this to be a reasonable expectation. 65% of people in America that are on the Internet make their buying decisions online… there are more people that access the Internet when they're looking to buy products and services than there are that pick up the yellow pages.

Now, I ask you, does your business need a web site?

There are many qualified web designers that are quite capable of developing a cost effective, aesthetically appealing and functional web site for your business. You can find them on the web or in the phone book. Good luck with your business!

About the author: Tim Minnick is the Director of Intertec Web Solutions. He has been developing Aesthetically appealing, functional web sites for businesses ranging from Banks to Trucking Companies for nearly 6 years. He thrives on the challenge of developing an exciting and interesting web sites. www.intertecweb.com

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"Choosing the Right Business Structure"
By Eliatt Di Lieto, CPA, CVA

Many people, when they start up a new business, automatically assume that they should incorporate. But this is not necessarily the right choice for everyone. Currently there are many options that a new business can choose, with no single global formula that can be used to decide which is best. Realistically, each company's facts and circumstances needs to be individually evaluated to determine the most appropriate structure.

So what options are available and which is best for you?

As a new business you can be:
A regular corporation
A subchapter S corporation (also known as a small business corporation)
A Limited Liability Company (LLC)
A Limited Liability Partnership (LLP)
A Partnership
A sole proprietorship

One of the key factors to consider in choosing your business structure is risk. A sole proprietorship and a partnership are cheaper alternatives; however, they do not limit an individual's risk.

Sole Proprietorship: The sole proprietorship is the easiest type of business to create. There are no formal filings that need to be done in order to become a sole proprietor, although many municipalities require you to file for a DBA (doing business as) in order to use a name other than your own. A sole proprietorship also does not require you to be as structured in your accounting, since you and your company are treated as one in the same. It is this very concept, however, that opens you to unlimited exposure. A creditor of a sole proprietorship has the rights to attach any of the owner's personal assets (i.e. home, investments, etc.). This, however, may not be as big of an issue as it sounds. If you are the only one working in the business, you are still liable for your own actions and therefore subject to suit on the personal level regardless, of the type of entity. From a tax perspective, sole proprietorship income is reflected on Schedule C of an individual's form 1040. No separate return is filed. Sole proprietorship income is subject to both income tax, and self employment tax (social security and Medicare).

Partnership: A partnership is just like a sole proprietorship, except it has multiple owners. A partnership has unlimited liability and is taxed the same way as a sole proprietorship. Unlike a sole proprietorship, however, a partnership has to file an additional tax return. A major drawback of a partnership is that each partner is responsible for the actions of his or her partner(s). For example, if your partner contracts to sell 1,000 widgets at a loss of $100 per widget, you can be personally sued for 100% of the loss if the business doesn't have sufficient assets to cover.

Limited Liability Partnership: An LLP provides all the same features as a partnership, with the added benefit of limited liability. An LLP is more expensive to establish, and carries a minimum annual fee which a partnership does not.

Limited Liability Company: An LLC can be taxed either as a partnership or a corporation, based upon an initial election made by its members. The LLC, like the LLP, offers limited liability and minimum annual fees. An LLC, however, can have only 1 member while an LLP cannot. The set-up costs are the same as an LLP, but a single member LLC need not file a separate return, as it is taxed like a sole proprietorship. An LLC provides easier transferability between the entity and its members then a corporation does. As a result, it is often utilized to hold real property.

Regular Corporation: A corporation provides limited liability to its shareholders. Like an LLP or LLC a corporation has a minimum tax, but to the extent a corporation has income a regular corporation is taxed at the corporate level. Unfortunately when distributions of profits are made to shareholders in the form of dividends, they are also taxed at the shareholder level. This double taxation is one of the largest criticisms of corporations. The other major detriment is the transferability of assets between the corporation and its shareholders. This is the most common entity used for publicly traded entities, or entities seeking venture capital.

Subchapter S- Corporation: All companies that incorporate start out as a regular corporation. You must elect to be treated as an s-corporation. The S-corporation eliminates the double taxation that a corporation possesses. All income that an S-corporation earns is taxable in full at the individual shareholder level. This makes the S-corporation very attractive for small, closely held, businesses. Like a regular corporation, an S-corporation is a separate legal entity. As such, it must file an annual tax return.

Other factors can play a role in the decision making process such as where you do business. For instance, New York City has an unincorporated business tax which sole proprietorships, partnerships, LLCs, and LLPs are subject to. In addition, New York City does not recognize S-corporations. As such an S-corporation operating within New York City limits will pay City tax at the corporate level and at the personal level.

This in no way represents a complete analysis of the various business entities and the pros and cons of each. It is merely intended to provide a little insight into each. It is important to discuss the issue with a knowledgeable accountant or attorney.

In addition, if you are going into business, it is important to prepare a viable budget, consider cash flows, understand your competition and your customers, and determine your sources of funding. Almost half of all business do not survive the first two years. Improper planning is typically the biggest reason for this. Lastly, if you are going into business with a partner, make sure you create a partnership, shareholder, or member agreement first.

Good Luck!!!!
Eliatt Di Lieto is a Partner with the accounting firm of Cerini & Associates, LLP where he runs the firm's tax and small business department. He can be reached at (631) 582-1600 x 208 or e-mailed at
eliattd@ceriniandassociates.com Visit them at www.ceriniandassociates.com _______________________________________________________________________________________ _____________________________________________________________________________________

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A personal message from the publisher...

How I became a proud, single, work at home grandma.

My name is Francine York, publisher of Modern Opportunity Web site and newsletter. I welcome you to what is fast becoming the quintessential business opportunity web site. Not only will you find a wide variety of interesting and profitable opportunities; but you will find services and products as well. Feel free to browse the site and read the many informative articles and columns geared to assisting you in becoming a successful entrepreneur. My email "door" is always open to you; so email me anytime and you will receive a personal reply from me.

And now, about my background and how I came to publish this site and newsletter... Due to budget tightening, my job at a not-for-profit agency was cut back to part time. Because I needed more of an income, I set out looking for a new position. At about the same time, my daughter and son-in-law gave me the wonderful news that they were expecting their first child and my first grandchild! My joy was boundless until the reality of economics deflated my euphoria. My daughter would have to go back to work three months after the baby was born. I started envisioning he/she being cared for by strangers in a day care setting. Fortunately, when I had my three children, I was able to stay at home until the youngest was in full day nursery school; but she could not financially do the same.
EUREKA! It suddenly became crystal clear...I would stay home and care for my grandchild.

First I headed for my financial advisor to review my finances and see if I could do this. He politely and firmly said, "Get a job, send your grandchild to day care like so many others do; sell your house; giveaway your three dogs; and rent a small apartment, then maybe you can afford to stay home." Needless to say, I was horrified and angry. You see, I had recently separated from my husband of many years and could no longer rely on him to help with the income.
The more people told me what a crazy idea this was, the more I was determined to do it! I began looking in the classifieds for home based business opportunities. Most listings were for opportunities for which you needed a great deal of money; and that I would not be able to run from my home. That was not going to do. Unfortunately, at the time, I was not knowledgeable about the myriad business opportunities available which can be operated from the home. Finally, I saw an ad for newspaper for sale. The same week my grandson, Ethan Jacob, was born (May 11, 2002), I became the new owner of a business opportunity newspaper. Since I knew the impact the Internet has on today's existence, I immediately started designing a web site. Today, after a year of changes, improvements, redesign and hard work, the site has grown to over sixty pages with more on the way.

I am a proud, single, work at home grandma now; and loving every minute of it!

To give readers, some info about my educational background...I graduated from Brooklyn College, Brooklyn, NY with Bachelor and Masters of Science degrees in the field of education. I spent the next four years teaching in a N.Y.C. public junior high school. Coming next was a move to the "burbs" in 1973 followed by the birth of my third child. When he turned four, I returned to teaching in a Brooklyn High School. The commute, the conditions and having a mother who was quite ill caused me to rethink the teaching profession. I decided that I needed a change, a challenge and to be closer to home. My next venture was opening a retail business...a Hallmark card and gift store on Long Island. Fifteen successful years later, that was sold. Not at all ready to sit idly by and watch the world pass me, I sought a new focus. I found a job working for a small marketing company. Since writing was always my hobby-I have been published several times-I was able to write copy, marketing plans, radio commercials and the like. It was during that time, after many years of marriage, that my husband and I decided to separate. The week after my daughter was married, 8/13/00, I lost my job. Luckily, I was hired to do public relations, write press releases, oversee the computer program, assist with development, etc. for the not-for-profit agency at which I had been volunteering as a crisis counselor since 1995.

My story comes full circle...I am here, it's 2003 and I am a very happy stay at home, single grandma whose mission is to offer money-making opportunities, services, products and essential information so others who desire, or need to, will be empowered and able to stay at home; and they will be able to find all the resources necessary to do just that right here...so, WELCOME and much success in your endeavors!

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