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IT consulting requires strong technical skills. But, perhaps more importantly, you need strong business and communications skills to be successful in IT consulting.

IT Consulting: Business Skills for Success

IT Consulting: Business Skills for SuccessIn addition to technical skills, you need business skills to run a successful IT consulting business. In this article, you'll learn some skills that will help you remain in the "IT consulting" business for years to come. Learn How to Manage Your MoneyYou know a bit about financing. You need to know about where to raise funds when things are a little slow with your IT consulting practice. You'll need to know how much capital you are going to need, You'll also need to be able to anticipate when things are going to run low and how to proactively run around that.Learn How to Multi-TaskIn the IT consulting business, you are going to need to work on a lot of different projects and with a lot of different clients all at once. Learn How to NegotiateYou need to be able to do some lobbying and act as a politician at times. You'll do this by building consensus among clients and fighting factions in the workplace.For example, the accounting department may really want an application but the applications department absolutely hates it. If your main decision-maker of the account says that the application must be installed, what do you do? You've got to be diplomatic to make it happen. Learn How to Handle All the Aspects of a ProjectProject management skills are really important you have to bring together a lot of different pieces - especially when you are talking about a big LAN rollout. You are going to have to be getting involved in purchasing on a pretty regular basis especially if you are going to be doing product reselling.Research skills are really key here - especially putting together complex networks and researching and putting together solutions. Being resourceful, knowing who to turn to for what. The Bottom Line about IT ConsultingWhile technical skills are important for IT consulting, you need business skills to stay in the IT consulting field for the long haul.Copyright MMI-MMVI, Computer Consulting Blog. All Worldwide Rights Reserved. {Attention Publishers: Live hyperlink in author resource box required for copyright compliance}

Rich Jerk - Are You Absolutely SURE?

Rich Jerk - Are You Absolutely SURE?

Do you want to be a millionaire, no a billionaire??!! This hour? This very minute? I'm sure you know the answer to the question. However I'm sorry to break it to you, but its not going to happen in this world we live in. At least not for 99.999% of us. Good. Now we have established that, in order to be a millionaire or indeed a billionaire you need to work, be smart and work some more. If somebody tells you otherwise you should put a smelly sock in his mouth!It is important that you must also approach any possible internet venture or online money making idea with this level of comprehension. The strange thing Ive discovered that that with most "follow my lead and make money" program, most of it is actually the TRUTH! Yes! The actual Truth! If you follow it step-by-step, word-for-word I can solemnly say that I can guarantee your success. GUARANTEED!!!The bump in the road is, most of it is put in a very simplistic way to make it seem easy, but make no mistake, If you truly want to make money online as a e-business, not a freelancer, you will have to invest a small amount of money (very small compared to brick and mortar businesses anyway) and some time to actually understand the whole process and make use of it work in your favor.Rick Jerk's book is one such book. He provides you with all the tools to actually succeed online, however he gives it to you with a sledge hammer on the head. I'd say at most only 10% of all the people who buy the e-book would actually implement his methods to earn some internet money. This is definitely not Rich Jerk's fault! A lot of people buy these e-books plainly for "Hope", the hope for a better future, but aren't disciplined enough to follow through and put in the hard hours and brain power to see it succeed.So now where are we? Bearing in mind that the path is already set, we need to find out the level of determination that is required for you to actually follow through with these money making steps. If you are determined to make a success of the internet, these e-books will be absolutely INVALUABLE in their ability to show you the way to the Money. Just make sure you have enough disciplinary fortitude to follow through and you will see a very bright end.I have looked through a few e-books, some were worth their weight in gold and some were just rehashed ideas from forums such as http://www.webmasterworld.com. I have identified two invaluable e-books that would bring the true entrepreneur the his/her successful ends providing of course that he/she follows through with the e-books and implements all that is suggested methodsPlease have a look at what I deem to be the best books on the internet in terms of guiding the internet entrepreneur to success at http://www.richjerkscams.com

How to Save Thousands with an S Corporation

How to Save Thousands with an S Corporation

How to Save Taxes with an S CorporationEver wondered why so many small businessesmore than 3,000,000 at last countoperate as an S corporation? Simple. An S corporation saves business owners big taxes in three separate ways:First, as compared to regular corporations (sometimes called C corporations), S corporation owners can use the businesss losses incurred during the early lean years on the owners personal returns as deductions. For example, suppose a new S corporation suffers a $20,000 loss its first year and that the corporation is equally owned by two shareholder-employees, Smith and Jones. Smith and Jones each get a $10,000 business deduction on their individual tax returns because of the S corporation loss. This $10,000 deduction might save them each as much as $4,000 in federal and state income taxes.A second, big S corporation benefit: As compared to almost every other business form, S corporations can save their owners self-employment or Social Security/Medicare taxes. Suppose, for example, that Adams, Brown and Cole independently each own businesses that make $90,000 a year in profits. Each business owner may pay $13,000 in income taxes. But, unfortunately, thats not the only tax they pay. Each owner also pays self-employment or Social Security/Medicare taxes.For example, Adams operates his business as an LLC and therefore pays 15.3%, or roughly $13,500, in self-employment taxes on his profits.Brown operates his business as a C corporation which pays all of its profits to him as a salary. Accordingly, Brown (through his corporation) also pays 15.3%, or roughly $13,500, in Social Security and Medicare taxes.Coles situation is different. Cole operates his business as an S corporation which means that Cole can split his $90,000 of profits into two payment amounts: salary and S corporation distributions. Suppose that Cole says only $40,000 of his profits are salary and takes the other $50,000 as a dividend distrbution. In this case, Cole pays the 15.3% Social Security/Medicare tax only on the $40,000 in salary. Cole therefore pays roughly $6,000 in Social Security/Medicare taxesand annually saves $7,000 in taxes as compared to Adams or Brown.S corporations also, sometimes, provide a third form of tax savings because S corporations dont pay corporate income taxes. This means that S corporations avoid the often-talked about double-taxation problem. However, the no corporate income taxes benefit often isnt a savings for small corporations and their owners.But let me explain. Suppose that two corporations each earn the same pretax profit of $100,000 and are owned by Ms. DaVinci who pays the highest federal income tax rate of 35%. One corporation is an S corporation and the other is a C corporation. The S corporation can distribute the entire $100,000 in profits to DaVinci as dividends because there is no corporate income tax. DaVinci then pays $35,000 in personal income taxes on the S corporation profits, which means she nets $65,000 in after-tax profits from the S corporation. In comparison, the C corporation cant pay the entire $100,000 in profits to DaVinci. The C corporation first pays $22,250 in corporate income taxes. When the C corporation pays the remaining $77,750 to DaVinci as a dividend, DaVinci pays another $11,663 in 15% dividend taxes on the C corporation profits. This means that DaVinci nets roughly $66,000 in after-tax profits from the C corporation profits. In this case, DaVinci saves money with a C corporation in spite of having to pay the corporate income tax.How to Get S Corporation BenefitsTo create an S corporation and receive S corporation tax savings, you need to do two things: First, you must incorporate the business either as a regular corporation or as a limited liability company. Second, you need to make an election with the IRS to have the corporation or LLC treated as an S corporation. The S election is made with form 2553, available from the www.irs.gov web site. Note that some states (such as New York) require a separate state S election.A final tip: S corporations can save you thousands of dollars annually, but your tax savings cant start until you elect S corporation status. If youre interested is electing S status to save on taxes for next year, you may want to call your tax advisor or attorney right now!

New Innovations

New Innovations

How do you produce ideas for new innovations? Here is a great technique: Extract some basic ideas from existing products and inventions, and then apply them to new areas.If you look at a thermostat, for example, you might think "A device to control the indoor climate." This is certainly an idea that can be used to come up with something new. You have to look a little deeper, though, if you want more creative innovations. Continue with, "It measures the temperature and then, using that information, turns the heater on or off, to keep the house comfortable."Continuing even deeper, we see that it uses measurement in order to control something. Let's work with that concept. With the technology that exists today, we can make things happen automatically, according to almost anything we can automatically measure. This is a powerful concept that can and will lead to some fantastic "new innovations" .In an article on thought control, I pointed out that since we can measure the changing activity of the brain as we change the nature of our thoughts, we can already build a device that is operated just by our thoughts. Even with the technology of thirty years ago, we could have had a TV turn on whenever one's pulse rate increased. If you then trained yourself to increase your pulse rate by thinking certain thoughts, you could turn on a television with your thoughts.Other New InnovationsTo have many such ideas and new innovations, just look around and start applying the basic concept of control by measurement. Looking at the television, and thinking of measurable things related to it, time is an obvious one. There are "sleep timers" that turn the TV off after a certain amount of time, but how about a device that only allows the TV to be on for three hours in any given day? Kids can watch when they want, but they won't be able to watch too much.A thermometer gives me the idea for a sign that changes it's message according to the weather. A restaurant, for example, could have the sign say "Come in out of the cold," when it was cold, or "Cool off with an ice cold drink," when it was hot, and so on. I'm sure there are other businesses whose messages would be variously more or less effective according to the weather.When I look at the traffic, I see that speed can be measured. There are already those radar signs now, that tell you how fast you are going. There could be a sign down the road that says "Slow down, we're taking your picture," or the radar gun could turn on a fake siren whenever someone goes ten miles per hour over the limit. The idea is simply that their speed triggers something that will hopefully slow them down.Yesterday I saw a new invention that measures your girth. So what does it do with that information? Well, if you hold your stomach in, you get clear sound in your headphones. If you let your stomach hang out, the music is low quality and loses volume. While I'm not sure how well this stomach-exercise-motivator will sell, it does show how using the concept of measurement to control can lead to very different innovations. In fact, any application of a basic concept to new areas can lead to new innovations.

Empowering Your Manager

"So much of what we call management consists in making it difficult for people to work."- Peter DruckerManaging is often equated with controls rather than leading and developing a business. The manager feels more comfortable and secure when they are able to put in strict controls on everything that happens in a business organization. This is so especially of Senior Managements where the controls and directing becomes so severe that it erodes any creative freedom for the middle managers to work towards achieving the goals set out for them.Here are a few simple prescriptions to get the best out of your managers.Avoid Centralizing Decision MakingThis is perhaps one of the best ways to achieve totals control. You feel by centralizing decision making you will be able to avoid wrong decisions. While this may be so to some extent who is to prevent your own wrong decisions. Unless your managers are able to make mistakes and learn from them you will never be able to develop expertise through experience. Centralizing decision making is also the surest method to kill your business growth.Provide Working SpaceThe top management often entrust tasks and responsibilities to their subordinate managers. More often than not any specific time frames which are comfortable to achieve the given responsibilities or tasks are discussed. However in their anxiety or aggressiveness and sometimes over enthusiasm you start chasing your subordinate for action and results. If you do it too soon and too often you are severely limited the working space of your managers. They may be spending more time in complying with your commands rather than focusing on operational priorities and important tasks.If you are not providing sufficient working space for your managers you are surely heading towards disaster as important tasks may be getting neglected to escape from your frequent and aggressive follow ups.Listen to Your ManagersWhile experience is an asset it also makes one arrogant and conceited. Sometimes one tends to believe because he is the superior, he always right. The Boss Is Always Right principle looks good only on posters. It doesnt work if you want to build a Professional organization.Cultivate the ability to listen to the voice of your managers. Most times they know better as they are more familiar with the ground realities. If you decide on their behalf and just issue orders, you will have clerks in the guise of managers as you have killed their initiative.Dont Get Into the Nitty GrittiesOnce broad goals and objectives are set with specific time frames and key results are outlined leave your managers to perform. If you get into too many details and meddle with the execution at every stage, you may be sure to mess up the entire process and ultimately the results.The key to managing effectively is to empower people across the management structure so that they feel part of the responsibility and ownership.

Business Name How To Pick One From A Legal Perspective

A business name can be a huge factor in the ultimate success or failure of the entity. Unfortunately, many people fail to give a lot of thought to it prior to moving forward. There are many factors to consider including something memorable, a name related to your area of work and, potentially, the availability of the domain name.Married?Picking a "business name" is like getting married. You are going to have to stick with it till the bitter end. It is estimated a prospect will need to see your advertisement and business name at least 22 times prior to doing business with you. Once they associate your business with a certain name, making a change will be disastrous. Once you pick something, stick with it.Naming Your BusinessIf you are going to be married to your business name, you need to make sure the bride isnt already married to another suitor. There are four significant issues to consider.Initially, you must determine whether the name is already being used in your state. The Secretary of State controls the names of all corporations, LLCs and partnerships. Most also have a web site where you can conduct name searches. Even if you are a sole proprietor, you should check the name against those already registered in the state database. If the name is being used, you will need to consider an alternative.Assuming the name passed must with the Secretary of State, you should check it against existing trademarks file with the Patent and Trademark Office. The PTO maintains an online database. As with the Secretary of State, you can conduct an online search to make sure no other business is using it.In this day and age, many businesses incorporate a web site as part of their business model. If you are in this boat, you need to check to see if the business name is available as a domain. If it is, you should register it immediately. If not, you can either change your business name again or focus on a domain name incorporating your service or product instead of the business name.Avoiding ProblemsYou business could be devastated if you do not take these precautionary steps. Imagine the negative impact on your business if the name has to be changed three years down the line. Take a breath before you select a business name. Like a spouse, it can be either a good or bad choice.

Summary

IT consulting requires strong technical skills. But, perhaps more importantly, you need strong business and communications skills to be successful in IT consulting.