Are Your Business Ideas Profitable?

I recently received a request to write about testing business ideas. While we can prepare for and plan our businesses around concepts and data, there is no real way to test if we're going to be successful or not.
There are some ways to double check if you are or are not on the right path when it comes to business. Here are my top three tips to see if you are on the right path to projected success;

#1. Focus on goals, don't just have them.

I know many people who write goals down. They have a goal for every part of their life. What they're missing is a plan. You need to have a goal followed by a plan and work at it daily.

#2. Be reasonable with your time frames. Don't plan to be a millionaire at the end of two years. If only life were this easy. Make sure you have a realistic timeline to compliment your goals and your plans.

#3. Make profit your number one goal. Don't think about expansion, second offices, etc. until you actually have a solid profit coming in. You can't just think big, you have to grow a profit to get big.

I will back with a new blog series this upcoming Monday, January 5th. Until then......

Happy New Year!

Twyla Garrett

'Masque Attack' Becomes A Homeland Security Issue

The U.S. government’s computer security team is warning iPhone and iPad owners to be extra careful when updating their apps thanks to a vulnerability in iOS 7 and iOS 8 that allows hackers to send updates that impersonate the apps on their phones. Sounds scary right? It is! But it isn't that the DHS is concerned about your individual phone and identify theft- not to minimize it. The reason this is a DHS issue is because of the capabilities associated with what is being dubbed as the 'Masque Attack'.

Apple has known about the vulnerability since July 26. Apple has not responded to previous requests for comment except to reiterate that users should only download and install apps from trusted sources. The DHS is also concerned about that because not saying something means the virus could have spread and fallen into more sinister hands. This said, US-CERT, which acts as the operational arm of the Department of Homeland Security’s National Cyber Security Division, said Apple users can protect themselves by only installing apps directly from Apple’s official store or from their own organizations.

Here's my point - we now live in a world where cyber security seems to be a huge issue for both individuals and our country's security on a daily basis. It also seems that major companies, like Apple, truly don't understand how a small case of identity theft (again, not that it can every be considered "small") can also lead to big problems on a national level if the wrong app or big technology hacks are used for bad things. Our banking systems can go down, airport traffic control could go down, systems can show beheadings on children television stations- a lot can go wrong. So, this is far more of a concern because of the bigger concerns associated with the 'Masque Attack'. Oh, did I mention the President uses an iPhone?

I'm not trying to scare anyone today, but I am offering a warning. Be awareof what you download online and report anything suspicious to US-CERT.

Until tomorrow,

Twyla N. Garrett of IME

9 Million People to Receive 'Green' Cards.

Here's some Homeland Security news for you, the Department of Homeland Security (DHS) is bracing for a couple of busy weeks- to say the least. The DHS is going to be reviewing work applications from an estimated 9 million immigrant workers thanks to an Executive Order that President Barak Obama is expected to implement later this year. So, what? Well, that is the million dollar question.

This information is relevant because US Citizenship and Immigration Services has published a draft contract proposal to buy the card stock needed to make work permits and Permanent Resident Cards, more commonly known as green cards. The proposal also calls for providing material for at least 5 million cards a year, with as many as 9 million “during the initial period … to support possible future immigration reform initiative requirements.” The contract calls for as many as 34 million cards over five years.

Basically, non-violent illegal immigrants will be protected and granted legal work status if they have children here in the USA. While many people may not like this concept- or may think it put the country at a disadvantage- there are more benefits to this action than not. These now legal workers have to pay into the tax system, which is a big plus. They will contribute to our medical system and they are trackable. Plus, they can't be taken advantage of in so many ways. It seems to be a win-win for both parties.

The DHS is going to spearhead this effort because it the president can authorize protection from deportation for immigrants on a case-by-case basis, such as with the DACA program, and issue work permits. If someone doesn't look like they working intent, but something more sinister in mind when it comes to being within the USA, we can get a heads up on the scenario (and handle it) through the DHS. This issue is something to think about for sure this weekend before forming an opinion if this effort is good for the country or not.

Until Monday,

Twyla N. Garrett

1 Valuable Life Lesson for Business

Someone recently asked me if I had a valuable life lesson that translated to business growth. I do! I wanted to share it on the blog today to help many people understand why I brand my company, IME, as "the company that cares."

My mantra and life lesson is to take everything personally. I hate when people say, "it's not personal, it's business." You are your business as an entrepreneur, therefore everything is personal. If you don't treat everything you do in life and business with a personal investment, what good is it? It you are personally invested in something, you tend to take it more serious. Business means money. Business means your reputation. So, why wouldn't you take it serious?

The most valuable life lesson I have that can translate to business is not taking one specific business deal personally. I had viewed a deal as not "good enough" for my standards. It was just business, not an opportunity. So, I didn't take it personally. I missed out on a great opportunity because I treated the pitch as business. Had I treated it like a personal investment, I probably would have gave it more consideration and would be reaping those rewards today.

My point here is to take everything personally and act from the heart- even in business!

Until next time,

Twyla N. Garrett

Are you ready for a disaster?

My company works to help businesses prevent and offset disaster. As much as prevention helps, it can not stop disasters form happening. I can't stress enough how important it is to have a disaster plan when you launch your business. It is crucial. I know you have a lot on your plate but make sure you make this element a priority.

Here's How:

Spend a day running the office from home. This will help you realize what items you do have to run the business from your home office and what items you don't have. Do you have backup data for client files, numbers and hard copies of contracts? What about your schedule? Payroll information? If a disaster strikes, and your office is impacted, chances are you and your employees will have to work from home. Could you pay them? Could you reach them? Working from home for a day will help you realize the inventory you have and what you need to be prepared.

Who are your leaders? Don't wait for a disaster to assign your employees leadership roles. Help your company be prepared by preparing your employees. Ask yourself who would be best to help in the event of a mandatory evacuation. Seek out people to cover attendance after the evacuation, those who should grab certain documents and data cards, individuals who start the insurance processing part, etc. A disaster brings a lot of chaos to the table. Employees who know their roles ahead of time can help streamline recovery and compile resources.

Plan for their safety. Yes, you have to keep clients moving but employees' safety should always be first. If someone's home has been flooded, try to help them recover by pooling resources. Who is willing to share their home? Do you have a company credit card to front employee hotel housing? I know this is going the extra mile but it is important to take care of each other. Profits are important but the human element is more valuable.

These recommendations are just the tip of the iceberg. You are free to contact me with specific questions or a request for a consultation.

Stay safe out there,
Twyla