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Partnerships have a relatively low
rate of success when starting a franchise. Well, the same is true
for any business. Why?
Most partnerships fall apart within a
few years or even months because of mistakes during their
structuring process. In many cases partnerships are put together
because one person either can’t afford a business or does not have
the expertise to start one.
As a result, exited to find a
partner and fulfill an individual dream, entrepreneurs rush to get
started before taking care of some important details. Here are some
things that need to be considered when starting a franchise business
in a partnership:
1. What is the exits strategy? – Maker
sure that you share the same vision of where you want to be in 5
years. If an offer comes along to buy your franchise, what will you
2. Decide what to do if you stop agreeing on things –
effective dispute resolution tools need to be put in place before
you get started. You are going to spend a lot of time with your
franchise partner, don’t expect to agree on everything.
Decide who is the boss – it is almost impossible to run a 50/50
partnership. Someone needs to be the boss or the CEO. This way you
know who is responsible for a final decision from the beginning
instead of having to decide that each time on the spot.
Consider a Limited Partnership – Make sure that all the liabilities
in your business are clearly spelled out. Getting a limited
partnership agreement in place might be the best way to go. v 5.
Look at some successful partnership examples – Baskin and Robbins
(ice cram franchise) come to mind. Take you time to research what
made other people successful in this arrangement. When considering a
partnership it also helps to consult an attorney in order to
incorporate all the details into a partnership agreement.
the end, partnership may be a great option for you, the key is to
give careful consideration to all your options and properly document
The Forex market is an inter-bank or
inter-dealer network first established in 1971 when many of the
world’s major currencies moved towards floating exchange rates.
Forex Trading is considered an over-the-counter (OTC) market,
meaning that transactions are not conducted on an exchange like some
equity stock markets such as the New York Stock Exchange (NYSE) or
the Chicago Options Board Exchange (CBOE) where options and futures
are traded. OTC trades exist as agreements made between two parties
that agree to trade via telephone or electronic network.
Forex trading has evolved, several locations have emerged as market
leaders. Currently, London, England contributes the greatest share
of transactions with over 32% of the total trades. Other Forex
trading centers—listed in order of volume— are New York, Tokyo,
Zurich, Frankfurt, Hong Kong, Paris, and Sydney.
these trading centers cover most of the major time zones, FX trading
is a true 24-hour market that operates five days a week. For
example, as a trader in New York, you have access to the Forex
market starting Sunday evening when the market opens in Sydney for
the start of the trading week. Trading centers around the globe then
come online until New York closes at 4:30 PM EST. Of course, by this
time, Sydney will have reopened for the next trading day so you can
continue to trade around the clock until the New York close on
Forex trading is again beneficial for it helps you
to perform complex analysis without mistakes. With access to your
computer, you can solve complex charting, sort out details of each
trading agreement minutely. Add to this, you have several forex
trading tools available online. These tools offer quick assistance
for forex trading in volumes. This is indeed a blessing for
newcomer, who often finds it tedious to track down the facts and
figures of forex market and forex trading agreement.
Forex market has become the world’s largest financial market, and it
is not uncommon to see over $3 trillion US traded each day. All
things you need to know and learn it up in Forex trading ; knowing
risk level - how much you are willing to lose, understanding the
different forex trading systems as technical and fundamental and
research the trading systems which you can be familiar with how they
Forex trading courses are available as online courses
and also through printed books. Free tutorials and financial
guidance is also provided by many web sites. Choosing a professional
Forex Trading Course will provide you with details on
best time to trade specific currencies like Euro - How to anticipate
movements and trends in the global market - Which pairs of currency
to trade - Best time to enter the forex market - Market conditions
and tips about efficient trading from experts - Technical indicators
Overall a forex trading course should be a complete currency
trading solution for all the queries regarding forex and its
effective trading options.
William H. Gates is chairperson and
chief software architect of Microsoft Corporation, the worldwide
leader in software services and Internet technologies for personal
and business computing.
Bill Gates was born on October 28,
1955 in a family having rich business, political and community
service background. His great-grandfather was a state legislator and
a mayor, his grandfather was vice president of national bank and his
father was a lawyer.
Bill strongly believes in hard work. He
believes that if you are intelligent and know how to apply your
intelligence, you can achieve anything. From childhood Bill was
ambitious, intelligent and competitive. These qualities helped him
to attain top position in the profession he chose. In school, he had
an excellent record in mathematics and science. Still he was getting
very bored in school and his parents knew it, so they always tried
to feed him with more information to keep him busy. Bill’s parents
came to know their sons intelligence and decided to enroll him in a
private school, known for its intense academic environment. It was a
very important decision in Bill Gates life where he was first
introduced to a computer.
Bill Gates and his friends were
very much interested in computer and formed "Programmers Group" in
late 1968. Being in this group, they found a new way to apply their
computer skill in university of Washington. In the next year, they
got their first opportunity in Information Sciences Inc. in which
they were selected as programmers. ISI (Information Sciences Inc.)
agreed to give them royalties whenever it made money from any of the
group’s program. As a result of the business deal signed with
Information Sciences Inc., the group also became a legal business.
Bill Gates and his close friend Allen started new company of
their own, Traf-O-Data. They developed a small computer to measure
traffic flow. From this project they earned around $20,000. The era
of Traf-O-Data came to an end when Gates left the college. In 1973,
he left home for Harvard University. He didn’t know what to do, so
he enrolled his name for pre-law. He took the standard freshman
courses with the exception of signing up for one of Harvards
toughest mathematics courses. He did well over there, but he
couldn’t find it interesting too. He spent many long nights in front
of the schools computer and the next day asleep in class.
After leaving school, he almost lost himself from the world
of computers. Gates and his friend Paul Allen remained in close
contact even though they were away from school. They would often
discuss new ideas for future projects and the possibility of
starting a business one fine day. At the end of Bills first year,
Allen came close to him so that they could follow some of their
ideas. That summer they got job in Honeywell. Allen kept on pushing
Bill for opening a new software company.
Within a year, Bill
Gates dropped out from Harvard. Then he formed Microsoft. Microsofts
vision is "A computer on every desk and Microsoft software on every
computer". Bill is a visionary person and works very hard to achieve
his vision. His belief in high intelligence and hard work has put
him where he is today. He does not believe in mere luck or God’s
grace, but just hard work and competitiveness. Bill’s Microsoft is
good competition for other software companies and he will continue
to stomp out the competition until he dies. He likes to play the
game of Risk and the game of world domination. His beliefs are so
powerful, which have helped him increase his wealth and his monopoly
in the industry.
Bill Gates is not a greedy person. In fact,
he is quite giving person when it comes to computers, internet and
any kind of funding. Some years back, he visited Chicagos Einstein
Elementary School and announced grants benefiting Chicagos schools
and museums where he donated a total of $110,000, a bunch of
computers, and provided internet connectivity to number of schools.
Secondly, Bill Gates donated 38 million dollars for the building of
a computer institute at Stanford University. Gates plans to give
away 95% of all his earnings when he is old and
Have you ever had a dream so big that
you had no idea how to accomplish it? The dream is there, in the
background of your mind, gnawing at you and clamoring for your
For many busy entrepreneurs, you might start to
feel like the dream is slowly dieing. With everything you have to do
to generate financial results, you never have time to focus on the
dream. You are always busy running your business, making money,
taking care of your clients, etc. Who has time to chase their
When you let your dream die, it affects your
passion. Without passion, running your business can start to feel
like work (who wants that?). Passion is the fuel that gets you going
every day, provides the stamina to overcome the challenges and
obstacles, and inspires you to think bigger.
Recently I saw
an Oprah special called “Building a Dream” about the launch of her
Leadership Academy for young girls in South Africa. As I watched the
show, I realized that Oprah has been visioning this school for a
long time. She had clarity about so many details -- from the
uniforms to even the brick color of the building. It has been the
fuel that keeps her going ever day, overcoming the big obstacles
that have risen in running a billion dollar empire.
know that Oprah is very busy with her show and her magazine. How she
brought her dream to life and fulfilled her passion was by
surrounding herself with a team of people who could bring her vision
If you study billionaires (which I do) you will
learn a special leverage technique they all use to manifest their
dreams into reality. I’ve seen this technique used by Oprah, Donald
Trump, Bill Gates, and Richard Branson. The technique: build a team
to bring the vision to life.
Here are five tips to help
you get started:
1. Stay focused on the vision. Michael
Gerber’s In the Dreaming Room covers the power of what your REAL job
is (and by the way, it’s not getting lost in the day-to-day
management.) It’s all about creating a vision so big that it pulls
2. Do YOUR job. Your job is to stay focused on
high payoff activities. Let others do what they do best.
Bookkeeping, housecleaning, graphic design, website updates,
filtering emails and phone calls are all low payoff activities for
the average business owner yet you many spend thousands of billable
hours a month on these tasks.
3. Surround yourself with
powerful implementers. When you leverage your time and build a team
of good people, then your dreams become real 100 times faster. Most
entrepreneurs are really great with ideas but lose traction when it
comes to details and managing projects.
4. Start sooner. In
completing the Virtual Team Building Secrets interviews, one thing I
found in common with all five experts is they waited too long to
build their team. It cost them time, money and sanity. The
billionaires I studied all took the risk to build a team
5. Let go. Once you create your power team, be
sure to learn to delegate well. It doesn’t do anyone any good if you
hold the reigns too tight. A golden rule of delegation is, “Commit
to the outcome, let go of the path to get there.”
to start building YOUR team. It’s the fastest way to create more
time, free up energy and make progress in bringing your vision to
Thousands of people have lost their
jobs or source of income in todays troubled economy. Absolutely no
one should feel that it cant happen to them. In addition to people
losing their jobs and source of income, there are millions more
coming out of college or coming of age, entering a job market that
is already stressed with high unemployment because of the turbulent
Considering the state of the economy it would be
wise to be resourceful, doing so by taking the initiative to create
an alternative source of income. Starting a Home Based Business will
allow you to generate needed income, be independent, and give you
peace of mind.
Generating needed income with a Home Based
Business could make a difference in your life. Particularly if you
have lost your job or source of income. It will give you a way to
take care and provide for yourself and loved ones.
you do have some income and your goal is to supplement or add to
what you have coming in, which will benefit you.
value independence, you are really going to enjoy owning a Home
Business. How independence manifest itself varies from one person to
another. It could be that you want to spend more time with your
family and loved ones; Enjoy the convenience of not having to
commute to work; Be able to provide for yourself without assistance
from others; No boss looking over your shoulder; Being in a position
to come and go as you please.
Everyone desires peace of
mind, simply because, it is a wonderful state to be in. Anxiety
takes its toll on all of us. Having a Home Based Business to relieve
some of the pressure would be welcomed relief.
When we are
overly anxious as to how we are going to make it from day to day,
pay the mortgage or other bills, provide for the kids.
these anxieties can be mentally and physically exhausting.
Yes, the economy is tough, and people will probably continue
to lose their jobs, their retirement income. These conditions may
continue for just a few years, or perhaps longer.
dont want to do is be at the mercy of the conditions around us. We
want to be resourceful taking the initiative. One way of doing that
is to start a Home Based Business, which could provide needed
income, help you to be independent, and have peace of