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How to Create a Business Charter

Have a problem with a boss? All you have to do is set up a meeting to discuss it and work it out. If things don’t change then get the resume together and start looking for a job. Easily solved, right? Not when the boss is your mom, or a co-equal business partner.

People become co-owners of a business because they believe they will be better off with a larger entity than as a sole owner or sole practitioner. They might sign agreements that cover the details of the corporate organization. However, the actual understanding of how the owners will work together is rarely discussed in detail, let alone written down.

Family owned businesses are even more complicated. The role of family members is usually just an evolution of non-planned events and circumstances. Some family members might be invited to join the business, while others might go and do their own thing. All this is wrapped up in family wealth and estate issues, let alone the regular family dynamics.

When conflicts arise in a family business, they are inherently more complex and difficult to resolve than in non-family business. The ones who run the company also have to go home and be with each other at night, or visit during the family get-togethers. Non-related owners usually have less allegiance, however, they still might create their own version of “family dynamics.”

Whether the owners are related or not, they often enter into the business partnership wearing rose-colored glasses. In the beginning, they will have high expectations for a blissful and financially rewarding relationship. Success in meeting the original high expectations is frequently not achieved. The relationship between owners will have a natural shift between highs and lows.

Business owners that have more and higher peaks in their relationships do so because of good communication and understanding. Often, this is the result of chance rather than specific planning. In these cases, the business owners or family members naturally have the skills and temperament to get along.

As business consultants, we are often brought in to help with issues involving owners and/or family members. The stated issue is typically something about so-and-so getting paid too much for the little work they actually do. Sometimes, there are sudden and un-resolvable divergent opinions or personality conflicts.

Regardless of what the stated position is, the genesis of the “issue” is typically the result of accumulation of slights and hurt feelings, built up due to a lack of communication and understanding.

During the process, we interview the principals involved to get a complete picture of the relevant issues. This process allows us to learn about each person’s perceptions, values, issues and the hidden agendas that seldom surface when owners or family members meet on their own. This provides us as outside consultants a view that none of the partners have completely seen.

Our task in these projects is to guide the owners to develop a clearer picture of the “whole situation” for themselves. Prior to the group meeting, we give each person a summary of the key issues and each principal’s perspective that was developed from what we learned in the individual interviews. The group meeting provides a format to discuss, understand and hopefully resolve any significant roadblocks that have formed.

This formula is not magical and does not necessarily require an outside consultant. However, it is better to begin with a solid foundation for a successful business relationship, rather then having to rip out an old unstable one and start again.

There are a few steps that business owners, family or not, can take to lay down a stable foundation for effective business relationships. This will help increase the odds of achieving more harmony and thus improved financial success.

The first step is to create a Business Charter. This document will clearly spell out the purpose for the business relationship, the various roles involved, responsibilities, ownership rights and the decision-making process, along with compensation and perquisites.

The intent is to clarify and agree to key expectations, enhance teamwork, and reduce conflicts and misunderstandings. It provides a framework from which all parties can agree is the starting point when issues arise.

The next step is simply maintenance and execution. Owners need to incorporate into the regular business meeting, time to discuss and review the Business Charter. A Business Charter is a living document, so changes will need to be made as things change and evolve.

Family businesses need to add two more steps. The first is to add a section in the Business Charter that outlines how the family members will work together in a business environment. Often, this involves resolving the dual role a parent might play as boss and as a parent. It can also be used to address the possibility of a younger child being the boss of an older sibling.

Families also need to develop a family contract. This will address the “big picture” issues involving families, the business, its wealth and estate planning. The family contract will bring in family members that are not involved in the business. It will address how the family’s wealth will be treated for estate planning activities.

MLM Business Help – Where to Get Help With an MLM Business and Finally Make Some Money

Are you looking for MLM business help because you’re tired of struggling.

It happens a lot in this industry unfortunately… you get into your home business with a sponsor or team that either just doesn’t get it… or they’re not doing the things that make YOU comfortable with your business.

That can be a serious blow to your hopes and dreams, and of course lead you to almost beg for help with your MLM business.

Getting MLM Business Help When Your Sponsor Just Isn’t Going to Help You!

Now first of all, let’s talk about why you actually are wondering how to get help with my MLM business.

Is it because your sponsor basically stinks, and doesn’t know what they’re doing either? That happens. Some sponsors don’t know their ass from their elbows in this business… but fed you a huge line of bull that they did when you joined under them.

Leading you to need MLM business help outside.

Or… is it because your sponsor actually runs their business in a way that you don’t really care to run yours?

Now if that’s the case there are a couple of things that you need to ask yourself.

First… is it because of fear?

Is it because they want you to go and make a list of everyone you know, and then go talk to them about your MLM business? You probably don’t feel comfortable doing that at all I’m sure. I certainly didn’t.

Is it because they want you to make cold calls, and getting on the phone and calling someone you don’t know is like walking into firestorm?

Plenty of people don’t like to use the phone, especially to make cold calls to people out of the blue. Some people do really well with that, but if that’s not your style, then it’s just not your style.

Cold calling isn’t for everyone.

What’s Great About Getting MLM Business Help From Outside Your Upline Sometimes…

Sometimes getting help for your MLM venture outside of your team is that it opens up your eyes to new and even more effective ways of running your home business business.

There are ways of getting MLM leads that don’t require that you bother your aunts, uncles, co-workers, and friends.

There are ways of building a huge downline that doesn’t mean you have to get on the phone and call people who have never heard of you and don’t even know why you’re calling.

Heck there ways of getting MLM business help, where you realize you may not even have to use the phone. You can generate and even often times (not always) close leads over the internet.

How to Start an Estate Sale Business

If you would like to start an estate sale business, research what will be involved, the time needed, and knowledge needed. These are just a few of the suggestions I would give anyone that would like to start a career in this sales business. The population of the city you live in is very important for obvious reasons. The most successful businesses originate in large metropolitan areas such as Atlanta.

The Atlanta estate sale business is booming. There are 10 counties in the Atlanta metropolitan area. Every weekend there are numerous companies conducting sales. If you live far from a metropolitan area, in a smaller city, the population alone will not keep you busy enough to make a comfortable income. In addition, sellers will not feel comfortable using a company that does not live in their general metropolitan area.

Education and experience selling on the resale market for everyday household, antiques, collectibles and vintage items is a must. Price items too high, or too low, will result in one – items won’t sell or two – an angry seller who finds out you sold their antique oil painting for hundred dollars below the probable sale price. I have been in the estate sale business for many years. I still have to research many items that I am preparing to sale. Where do you start?

Visit local antique malls and vintage stores, review pricing of items that are offered for sale. But, beware, as a former antique dealer, I can assure you, some of those “high priced” antiques have been sitting in the store for months maybe years. I would suggest beginning with an antique chest of drawers. Chests are often sold at estate sales. Compare pricing on comparable chests throughout the store. Visit local sales conducted by estate sales companies that have been in the business at least two years. See how these companies price items for sale. Buy books and study online the value of antiques and vintage items. Finally the best education would come from an experienced antique dealer. Consider partnering with a dealer. Their knowledge will help you tremendously.

Licensing, taxes, and other important considerations running a business are a whole other subject. Contact your local government to review what is required to run a business in your hometown.

Finally, the time needed is a large consideration. Preparation for a sale is hard work. You may be unpacking dusty old boxes, moving heavy furniture, emptying cabinets and drawers. If you don’t like physical hard work, this is not a business I would suggest. Sales are typically held on weekends. I rarely have time off. But, I love the business and the variety of what I sell. One week I am selling vintage tractors and the next week I am selling a beloved grandmothers favorite quilt. It is never boring.

Good luck, the estate sale business is a rewarding business. With proper preparation, you can enjoy a nice income. You won’t ever be bored. That I can promise.