about business

International business is truly a complex and exciting way to do business.

However, you might already understand that businesses always involve tax issues, and doing business overseas adds the complexity of tax issues. Such tax issues include tax law, such as export-import tax laws, local area tax regulations, and other tax issues.

You need to have as much tax law help as possible

Understanding international tax law is one of the key success factors in determining your success in doing business in other countries.

You certainly need all the help you can, as you definitely not knowing the details of local area tax issues, no matter how expert you are in international business.

Have international tax law specialist as your team member

I recommend you to look for international tax law specialists, to join your international business team.

Why forming a team? What is a team, actually?

Your team is not only your internal management team. Your team involves lawyers, public accountants, and tax consultants, to name a few.

Having a complete team with a tax consultant specialising in international tax law will aid you in your go international business mission.

How to choose an international tax law specialist

Basically, you are recommended to choose an international tax law specialist that:

• Has dealt with clients that are successfully go international
• Has dealt with local authorities overseas, focusing on the country you target your business expansion to.
• Has a local area partner overseas.

If you have any other ideas, please add to the list :)

Good luck going international.

Ivan Widjaya
International business

I never been into politics, not even on today’s US election.

However, I interested in learning how the US election will actually help US small businesses, as well as global small businesses, in receiving perks that will be beneficial for all.

Countdown to US November election has never been more exciting today, especially in both consumer and business credit cards industry.

A nation of which people regarded by many as big spenders, US Credit Debt is overwhelming and disrupting lives. Many of its people are in deep credit debt due to mismanaged personal finance, as well as non-conducive law and regulation.

The Credit Cardholders’ Bill of Rights is highly advocated and anticipated today, due to the political purposes attached to it by the US presidential candidates.

Once provisions of Credit Cardholders’ Bill of Rights come into effect, you can expect fairer credit card regulations for both consumer and business.

Perks for small business owner

What the proposed provisions of Credit Cardholders’ Bill of Rights means to small business owner?

Once the provisions take effect, small business owners will enjoy no interest rates increase while they pay their bills regularly on time. Moreover, there will be no new interest rates can be applied to the balances accumulated under the previously low interest rate.

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Shocking, against the mainstream believes, but true.

It is a statement from Mike Myatt, the writer of The Problem with Best Practices, a knol I just stumbled on in Google Knol today.

In fact, I blogged about it on my new blog-magazine, Knol Today - and I think I want to share his and my view regarding the problem with best practices.

The following is what I found interesting with Mike’s insights on best practices.

Best practices are not always the best for your business

Mike state that best practices are only a collection of methodologies, processes, rules, concepts and theories that have previously achieved success. This previous success cannot be regarded as universal truth, which unfortunately, many business experts, consultants and coaches insist you the otherwise.

Many so-called experts develop a book, training or software products that ’solutionised’ the best practices in the form of methodologies, concepts, theories and all things above. I truly agree to what Mike explained, that once this best practices become productised, that when objectivity is removed from the equation.

I am not saying that those books, training or any products that focus and utilise on best practices are bad. Many of them are actually excellent products, that if implemented correctly will yield the expected results.

However, you must remember that business issues, although similar, is not the same from one business to another. Together with the fact that business world is ever-changing and dynamic, it would be wrong to take the best practices as they are.

Best practices make you change into ‘me-too’

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Small businesses have their own perks - nimble and easily embrace changes.

Most of the small business owners I know work for themselves, and some others run a two or three person company.

From them, I learn that being small, often by choice, they are able to build an adaptable and adept business.

Many of them even have the revenue that match their bigger competitors that have a large amount of investment.

In term of investment, small business owners I know are all bootstrappers. They start with almost nothing, and currently have a five, six, even seven digits annual sales.

Why small business has all it takes to be big business

By being small, they can close control their businesses, while keeping themselves ‘off the radar’ from possible lawsuits, tax problems, harsh competitions, etc. Not that small businesses don’t face those issues; It’s more to the genetic feature of the small businesses themselves - small and nimble.

Small business requires a relatively low investment. This enables you to own multiple small businesses - consider this a diversification and spreading-the-risk techniques.

But most important reason of all, by being small, you can closely control your business and avoid the bureaucracy of big companies.

How to be a big business by being small

There are actually two routes to have a big business by being small - own a single business or own a multiple small or micro business.

Own a single business

Starting a business and focus on it for a long time can make the business big. You can stay in your business to control your business closely.

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This is a guest post by Anita Campbell, the Founder and Editor of Small Business Trends.

After you’ve had a website or blog a while and it starts to get some traction, you’re bound to be contacted by companies wanting you to join their affiliate program. They ask you to put affiliate links, banners and graphics on your site.

At first you may be flattered, thinking, “I’ve finally made it. Somebody thinks my website or blog is important enough to become an affiliate.”

But try it a few times. Soon you will start to wonder if it is a good idea to give in to flattery and join all such affiliate programs so willingly.

My own experience with affiliate programs is mixed. I’ve had one that I consider a success (free business magazines at TradePub.com). I’ve tried a dozen others that were duds — big zeros. And I’ve had a couple that I would call merely OK – steady but pretty small numbers (such as Amazon.com Associates).

I believe in affiliate programs. But I also think you must work hard to assess an affiliate program’s chances for success before jumping in. Every readership is different. Know your audience! What appeals to one audience may be a complete waste on another.

In each case when I tried an affiliate program that failed, mainly it was because the offering did not suit my audience. For instance, my audience are heavy seekers of information. They tend to like credible information products, like trade magazines. I have also had luck with carefully selected products such as a small business newsletter and signups for webinars.

However, I have never had much luck pitching gadgets, such as smart phones or digital cameras or printers. It’s just not that kind of audience.

I even once tried an affiliate program where you send in your old mobile phone and get paid – you don’t have to spend a dime and actually get money back! (Cellforcash.com) I thought for sure that would be a big hit. Sadly I was mistaken. My audience just doesn’t try out new phones that often.

On a different kind of site, such as a cell-phone discussion forum or mobile gadget blog, that turn-in-your-phone program might have been wildly popular. But not on my general business site!

What’s the downside of picking the wrong affiliate program? Besides wasting time and not making your asset (your site) work for you to earn money, another big issue is that you are actually giving away free advertising space. Those affiliate-vendors are having their ads displayed on your site, but not paying you CPM rates for the privilege. It’s a good deal for them. Free advertising and all they had to do was send an email and create an affiliate program and offer a couple of banners. Can you blame them for wanting as many affiliates as possible? More affiliates = more free advertising across the Web.

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Small business owner always have these things in mind - how to maximise profit, minimise overhead, manage human resource, secure financing and win clients.

Money, money, money.

Many owners forget that not all small business ownership always related to money.

Being successful doesn’t always mean more money, and to success doesn’t always mean making more money. There are privileges and responsibilities of small business owner that does not even related to money.

Why bother to do things beyond money

Come on, now. You are labeled ’successful’ not because you are an ace in running your small business. Your local community offers you the privilege to make good money in it.

A proof - great business in wrong location means bankruptcy - Sadly, I learn about this first-hand. On the contrary, a mediocre business in a prime location can pump revenue into your business, enough to buy you time to oil your business and perfect your business plan to grow.

So, if you consider yourself a successful small business owner, think of ways to give back to your local community. You can do this even without spending a dime - well, a little may be, unlike philanthropy acts businesses commonly did.

Why? Because I believe there are ways in the world that can do good, with or without involving money. Money buys convenience. But giving back to your community without spending money is a challenge.

I call it guerrilla philanthropy

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This blog post is inspired by Yaro Starak’s blog post - Is Internet Marketing Just Another Fools Gold Rush?.

He mainly talks about the analogy of Internet marketing as fools gold rush - that is, the period when gold rush craze era begin. Yaro explained that during that time, the smartest of all is the business people that sell shovels, picks and other tools to search for gold. The first and early prospectors did struck gold, big time. Unfortunately, as the story of their success spread like wild fire, most new prospectors left empty handed.

The analogy explain Internet marketing - many said Internet marketing early ‘prospectors’ are the one who struck gold and being rich, while Internet marketing experts sell tools (”shovels and picks”) on how to make money online, as the craze era begin, just like the gold rush era.

Some so-called Internet marketing experts sell getting rich online tools, that actually don’t make them rich themselves! This is what Yaro called the blind leading the blind.

While Yaro agreed at some point that the reality of Internet marketing is just like the modern world pyramid scheme, he insists that the continuing growth of resources and demand will keep Internet marketing and online business a promising land. Moreover, he indicates that today is just the early days of the Internet marketing industry and online business as a whole.

But then, why only a few made it, if it is still early?

How to be the few who made it

Here is a question that you have been asking yourself during your make money online journey - “If online business is so lucrative, why only a few made it?”

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I want to learn more, every day. Continuous learning - with the cool word kaizen - is my key to stay competitive and explore new opportunities.

I learn through forums, webinars, ‘inner circle’ memberships and online degree programs.

While most places I learn in offer free access, some of them are costing you money for a reason - quality. Let’s focus on online degree.

Entrepreneurs need a college degree?

With all the responsibilities I have today - family to take care, business to manage and opportunities to rake - the only way I can obtain a degree is through online education.

Why online degree? In fact, why a degree?

To tell you the truth, I hate commuting and attending classes, and would like to learn from the comfort of my home - so an online degree is a perfect fit for my situation. An example of online university is University of Phoenix, located in nearly 200 locations US-wide.

Entrepreneurs - do you have a college degree? If not, I would like to convince you to have one. A college degree does offer you more ‘leads’ and opportunities.

A college degree is relevant in entrepreneurship?

I know what you are thinking… Why I need a degree if I can get what I have now with the way I am? What a degree can signify?

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If you are interested in franchising as I do, you must have been heard opinions and recommendations about franchising.

Unfortunately not all people offer you the right recommendations, and sometimes people’s opinion on franchising is not based on the truth.

In many cases, all you hear about franchising is actually myths!

10 Myths in Franchising

Here is the 10 myths in franchising:

1. Being rich through franchising
   Unless you are the franchisor or you own MacDonald’s, this is misleading. If your definition of ‘rich’ is being financially free, then you need multiple successful franchise units. I never encounter a case where owning a franchise unit will make you rich!
2. Franchising requires nothing on your part
   Not true. Owning a franchise unit requires a certain amount of work. It’s not the type of business that allow you to invest and forget. Yes, some franchisors allow absentee franchisees, but not the way you might expect. Controlling and management are two equally important thing a franchise owner have to do.
3. Owning a franchise unit is your shortcut to entrepreneurship
   Not automatically. Entrepreneur can’t be bought - investing in a franchise unit is not you shortcut to entrepreneurship. Even many experience that although franchising requires a certain amount of entrepreneurship, you have to follow certain rule that, in effect, limit your entrepreneurial idea.
4. Your success is guaranteed
   Wrong. Franchising is about offering your an established brand name and tools to succeed - the only person that can guarantee success is you. If you know a franchise offering you a guarantee to success, run away from it.
5. Franchising cut the chase of trial and error
   Well, most of the case, you are still have to take a certain degree of risk, frequently - trial and error is a natural part of business. Franchiors give you road map, but how you drive through it is up to you.

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