Having the ability to build a home based business is one thing, not have the ability or the expertise to build a home based business is quite another. Building an online business is no different from building a brick and mortar business.If your desire is to build a business you can work from home, you must ask yourself, what is the motivation and reason for your desire to start as online business. You must weigh the advantages and the disadvantages of starting your own home based business.Anybody that starts a business is going to pay a price in their time they spend to get it stated, with the money they will be required to invest and the effort they will have to devote to their new found business. What is it that you hope to accomplish and gain from your little venture.It will do you well to consider all the pro and cons and be honest with yourself. Setting down and counting the cost and plan your strategy of attack will pay off great dividends in the end. This is not a business you can just rush in and start in an instance.Making a decision on what kind of business you want to start will be a very important decision to make. If you make the wrong decision it will cost you big time. Most people start their home based business in something they have experience with or they turn their hobbies into a business. If you start a business in something you enjoy it will never be boring to you.Many have turned their love and passion of collecting antiques and collectibles into a full time living for themselves, all the while working from home. If you have collected over the years, it’s a possibility you have collected more than you wanted too and have the inventory to start a business.Some collectors just focus on certain items they like to deal in. this is a big plus, because the collector has gained some very important knowledge about the items they collected. Knowing your products you want to sell is important for this reason, you will not be selling items for far less than the book value and losing a great deal of money in the process.Making sure you have a continued supply of products or items to meet the demand of the market is crucial to your success, consequently you will have to do some homework on where those products can be obtained.If you want a home based business with a continued supply of products, then you can try affiliate marketing. Affiliate marketing has come of age in recent years. The Internet is full of Affiliate marketing programs, choosing the right one the first time will be critical for you.If you don’t pick the right one the first time it may cost you time and money that you will lose and you will have to move on to another affiliate program and start over.

Are you wondering if home based business and make money online is an opportunity that really works? If you hear resounding this question in your mind essentially is due to an uncertainty regard the following three things: first, how to build a successful home based business, second, you do not have a clear understanding on how to make money through online opportunity, third, you want to find easy ways to earn fast money online. Now, let me reveal you what I have discovered over the last few years spent in this industry.Home based business and make money online is an opportunity that works – Fact #1: Do you want to build a successful home based business? If yes, then you must take absolutely advantage of Internet. You have to take action in a very fast, smart and outrageous way, my friend.You may be asking yourself “Why should I take action, Alberto?” Because you have to know that what separates very successful entrepreneurs from not successful people is:1 – Timing;
2 – Right strategies;
3 – Immediate action;Nowadays, to be in possess of specific knowledge gives you tremendous power and advantage upon your marketplace. For example, you can get huge and effective exposure in front of your potential customers and outperform your competition. But remember: if you want to be successful the difference between understanding this knowledge and its implementation must be approximately close to zero! Today, the x-factor that makes entrepreneurs very successful is the timing. Do not ever forget this!In my experience in this industry I have seen too many entrepreneurs fail because of laziness in the implementation of specific knowledge, and for not respecting enough the timing.Home based business and make money online is an opportunity that works – Fact #2: Do you want to have a clear understanding on how to make money through online opportunity? I think there are different systems and methods for making money in this industry. One of the most effective is to be enough courageous for standing out of the crowd and gain your own space in the marketplace. How do you get it? Simply by differentiating you from thousands and thousands of marketers and entrepreneurs who already exist in the market. Building a brand in the correct way allows you to get specific positioning especially on the web. And get specific positioning on the internet is equivalent to achieve worldwide exposure practically at zero cost! Isn’t it fantastic? Obviously you need to figure out how to put together all the piece of the puzzle in the right way, isn’t right?Home based business and make money online is an opportunity that works – Fact #3: Do you want to find easy ways to earn fast money online? You have in front of your eyes already everything you need. Simply you must:1 – Choose your target market;
2 – Define your avatar ie the ideal prospect who you want to attract you and in your business opportunity;
3 – Settle your own positioning and your branding strategy in this market;
4 – Provide your effective solutions to your market’s problems and propose your special offer;
5 – See the money dropping in your bank account;It is a very easy and fast process, obviously if it is made in the right way! In fact, on one side you must get the right information and on the other you need a coach or a mentor who provides you effective and constant support.Unfortunately, too many people struggle with this last factor. They try to gain positioning in the market. They continue to do all by themselves. But after have wasted a lot of time, energy and efforts, in the most cases the end result is a bitter failure.What separates the majority of people who try to be successful from who is already extremely successful and earns millions upon millions of dollars in this industry is exactly the ability of make branding correctly. Naturally you need many other specific techniques, strategies and secrets for being successful in the home based business industry. But if you build a great brand around you, the results will be unbelievable!One of the most inestimable principles I have discovered in my marvelous journey toward success is this: first at all you must become a giver, starting to spread the invaluable gifts that you already have within you and continuing to expand, to grow and to push yourself over your boundaries.Because remember: people do not want to join to your business. People want to join to you! Thus, this is the reason of why you must improve, develop and grow yourself! You are as a tank that needs to be filled more and more with gold knowledge.You deserve all the success and the abundance that exists on this planet. And in order to get it, you must take massive action in a focused way and decide today to stand out of the crowd. My friend imprint forever in your mind this eternal truth: everything you need to succeed is already within you!

Due to the ease of access to the internet, it is now very easy to start your own home based business and make money online, although like any other business it will still take time and perseverance to succeed with an online home based business. One of the advantages are that you can normally build an online home based business around your current working situation, and once you are generating sufficient income you can if desired work you online home based business full time. Although if done correctly you would be able to work your business part time for a full time income.Advantages of a Home Based BusinessThe advantages of working from home are that you will be provided with an additional residual income combined with a flexible schedule. There are plenty of people out there earning significant incomes and making money online working from home and there’s no reason why with the right guidance and if the correct approach is taken that anyone can’t do the same. The initial cost of a online home based business is very low with the added advantage of no commute to work meaning no transport fuel and maintenance costs.More Points to considerBefore deciding on a online business you must consider some very important aspects of what you are getting into. You must believe in your product, this will give you the confidence to market the product. Ideally you will need to get involved with a company or person with an established home based business enabling you to learn from them and copy there techniques and marketing strategies.You will need to fund this business in the early days so you must have the resources for doing this. Most genuine online businesses take time to get established. Ideally you will need working space at home away from distractions.You must consider whether or not you are suited to this kind of work. Internet marketing brings a lot of ups and downs and requires a lot of self motivation as well as perseverance. You may also feel very isolated at times.Making a schedule is one, if not the most important aspect of any online business or internet marketing opportunity. The internet is full of distractions and its vital you focus without succumbing to any of these distractions otherwise your marketing strategy will not materialise to its full potential.Mainly due to the internet there is now a vast array of opportunities to make money from a home based business. You must do your due diligence and speak with people that are already successful in internet marketing.You must plan your transition to your home based business. Failing to plan is planning to fail!!

The Legal Industry & Information Technology

Like all other industries, the legal industry is not insulated from the tremendous changes in information technology over the past decade, and the challenges and opportunities it presents. If anything, the changes have more bearing on law firms & departments because information management is at the core of what they do – consulting with clients, colleagues or experts; increasing compliance & regulation demands, wading through a constantly expanding sea of legislation and case law; managing outsourcing partners; keeping abreast with latest developments; or managing a mountain of matter files.

Recent Trends

Perhaps the most significant change in the legal services industry the decline of “relationship lawyering”.

Recent times have seen increased competition, & changes in underlying market structure. There has been a continuing trend of decline of “relationship lawyering”. Traditionally strong relationships between law firms and corporates are eroding, with more companies opting for in-house legal departments, or “shopping around” for the best deal. Another significant trend is the increasing convergence of legal markets, where competition is as likely to come from a firm in another state or overseas as from a local firm. These & other developments are exerting greater pressures on legal firms to be more efficient, an it is imperative that attorneys spend their time analyzing information, rather than organizing or managing it.

Drivers of Technology Adoption by Legal Firms

Possibilities of Technology – The primary driver of greater use of information technology by legal firms is developments in technology itself. New technologies & greater bandwidths allow great possibilities in the arenas of information management, productivity and remote collaboration. Information can be moved over the internet with greater security. And unlike yesteryear, law firms can access these technologies without hefty costs and the need to set up specialized IT departments.

In 2004, Forrester Research Inc estimated that some 39,000 legal jobs will have moved offshore by the end of 2008.

Outsourcing/Offhsoring – Legal firms are now increasingly open to legal process outsourcing of tasks they traditionally held close – research, transcription, coding and even legal research and the drafting of legal documents. It is commonplace to see a NY based law firm, subletting research work to a team of professional lawyers & paralegals in Bangalore, India. This enables firms to majorly cut down costs & concentrate on core legal functions. But it also necessitates a greater need to communicate, collaborate & monitor the functioning of outsourcing vendors hundreds or thousands of miles away. Security is also an issue, since performance of the services often requires access to regulated consumer data or other sensitive data.

In 2004, almost 60% of lawyers worked at multi-office firms and over 10% of lawyers work at firms with ten or more offices.

Geographic Diversification – As mentioned before, there is a distinct movement towards multiple office firms, with offices spread both nationally and globally. US based companies are now serving many foreign clients, or serving foreign interests of domestic clients. There was a significant presence of international clients in even the smallest law firms of 1 to 20 lawyers. There has also been a spate of global mergers and acquisitions of law firms in the new millennia. All this necessitates a greater need for communication, collaboration and information exchange between branches.

Regulatory Compliance – Since the Sarbanes Oxley Act came into effect, records management has become an essential requirement. Organizations are required by law to retain certain documents for predefined periods. Also, the amendments to Federal Rules of Civil Procedure went into effect on December 1, 2006, and apply to any firm involved in litigation in the U.S. Federal Court system. The amendments mandate that companies be prepared for electronic discovery. Firms have to drastically alter the way they preserve, retrieve and produce electronic data.

Competition is coming both from firms spread across the nation & the globe, as well as consultants & advisors who were traditionally not considered part of the “legal industry”

Competition – Because of the death of relationship lawyering, and “one stop shopping” by clients, firms cannot afford to be complacent anymore. Moreover, competition is as likely to come from the opposite end of the country or globe, as from local companies. Competition is also coming from other quarters, consultants and advisors who offer services that were previously the purview of lawyers. In this arena of intense competition, lawyers have to double up as “rainmakers” ; networkers (legal business development) in addition to traditional roles.

IT Needs of the Legal Industry

Centralized Document Storage – The legal profession generates a tremendous amount of digital information in the form of case files, contracts, court filings, exhibits, evidence, briefs, agreements, bills, notes, records and other office activity such as email. This information is the firm’s collective knowledge & learning which sets it apart from competition and needs to be retrieved again and again. Compliance also requires certain documents to be stored & retrievable for extended periods of time. Attorneys across different offices need to access and collaborate on this information.

In 2007, 53% percent of lawyers used a PDA outside of the office, 32% to check e-mail.

ABA Law Tech Report 2007

Remote Access – Ready access to crucial documents and information can sometimes be all the difference between a favorable or adverse judgment. Lawyers now have wings on their feet visiting clients, interviewing experts, or attending outstation court proceedings, and are often out of office. It is important that they are able gain LAN like access to documents from the firm’s repository even when they’re not at the office premises.

Document Collaboration – It is not enough to only be able to access documents from the firm’s storage. A single case file may need multiple inputs from attorneys with different expertise, clients, experts, researchers, and other associates spread over the country or even the globe (in case of outsourcing). Therefore it is important to have the ability to concurrently access and work together on the same file, from right where everybody is.

Remote Conferencing – Sometimes the ability to collaborate on a document may not suffice and actual discussion and knocking together of heads might be needed. Web conferencing allows multiple people to get together in a virtual meeting room and discuss issues as effectively as being there in person.

Security – A lot of the information a legal firm handles is highly sensitive client information, which it is bound my business ethics and contracts to protect. Since this information is mostly accessed and distributed over the public network of internet, and often distributed to third parties at some page, security is right at the top as a concern.

Access Control – Another level of security is the ability to manage who sees what information and what they can do with it. Since multiple parties like attorneys and associates across the company, outsourcing partners, and multiple clients access information from the firm’s central storage this is of prime importance.

Productivity Applications – Although managing documents and information is one of the most important things a law firms IT systems need to do, it is not all. They also need the ability to manage and share schedules, to maintain lists of important contacts, to manage and track different tasks and litigations teams or individual attorneys may be involved with, or billing management.

What They Don’t Need

41% of lawyers had no IT staff at any locations for their firm, while 17% have one person, 8% have two, and 38% have three or more

ABA Law Tech Report 2006

IT Hassles – If getting all the above goodies requires setting up a specialized IT department, installing expensive hardware, and managing ongoing maintenance and upgrades, it might just not be worth it for a small to mid sized law firm. Bigger firms have the deep pockets and incentive to set up dedicated systems, but it might not be sustainable for smaller firms.

Complexity – To ensure that attorneys embrace the IT system, attorneys should be able to concentrate on the information itself, rather than grappling with the nitty-gritties of the system.

Costs – Cost, of course is a top consideration for small to mid sized companies across industries. The ongoing costs and hefty capital investments needed for custom and enterprise systems are just out of reach.

Credit control is important in a business especially for small businesses. This means that every small business should ensure that it collects its outstanding invoices. Some small businesses let their uncollected invoices accumulate which ultimately affects their cash flow and also the performance of the general business. This problem can be attributed to poor credit control and lack of knowledge on the benefits of good credit control procedures in a small business.

One of the primary benefits of good credit procedures in a small business is that there will be sufficient funds to ensure that the business runs smoothly. The outstanding uncollected invoices mean that the business has some money which is deemed to be available but cannot be used in the operations of the business. This is especially a major issue in a small business which might not have enough funds to run the various operations without collecting the outstanding invoices as required. This makes it paramount for a business to ensure that it has set down good procedures of credit control so as to ensure the business runs smoothly with sufficient funds available.

Having good procedures is also important since it enables the business to know its reliable and trustworthy clients. This is because having good procedures in place will enable the business to explain to its various clients when and how the invoices will be collected. The reliable clients will keep to the payment terms and will ensure that the invoices are ready by the time stipulated by the credit control procedure. Through this the business can identify the clients that keep to their payment terms and therefore it becomes easier to extend credit to such clients since they keep their word.

Another major benefit of having a good credit control procedure in place is that the businesses are able to plan properly. This is because a small business with good control procedures will be able to know the money it has and the money to expect. As a result, the business will be able to budget even on the uncollected invoices since the laid down procedure will ensure that the outstanding invoices are collected on time.

A business can even get outsourced providers of credit control services who will ensure that all the outstanding invoices are collected on time. Having outsourced providers will give the business time to concentrate on other issues regarding the growth of the business. Furthermore, some outsourced providers even pay for the uncollected invoices and then go ahead to collect the invoices after the stipulated dates. This gives the small business the assurance that funds will be available on time to run the various operations of the business.

Good credit control procedures that enhance collection of a businesses outstanding invoices are also beneficial because it allows a business to control credit limits. Small businesses should have a limit of the credit to be extended. This means that these businesses should have a limit of the outstanding invoices. When the outstanding invoices surpass the set limit, the business might not be able to extend credit to other clients.

But with good credit control procedures the small businesses will be able to set limits and therefore be able to extend credit to other customers and also to those whose outstanding invoices have been collected. Therefore, it is paramount for a small business to have good credit control procedures in place which will enhance their collection of outstanding invoices.