Archive for November, 2007
November 30, 2007 at 3:11 am · Filed under general finance
Have you ever heard of speed reducers? If you are involved in the industrial, manufacturing, and distributing business, for sure you have. But do you know where you can find them if you need to? For such needs, there is Zycon, an online industrial directory, where you can find virtually anything, from gas springs, or speed reducers, to pumps, transformers, chillers and all kinds of valves.
Companies can add their listings for free, thus contributing to making Zycon a valuable resource for all engineers, who have the chance to find potential work and business partners. Additionally, engineers can discuss their technical issues in the Zycon forums, and they can contribute with their knowledge and experience to the community.
November 30, 2007 at 2:48 am · Filed under general finance
By Wendy McClelland
Tip! ) Let’s say you have a balance of $1,000 on your credit card and you take a $1000 cash advance. Two months later, you pay $1000 towards your bill.
First of all - keep in touch with your customers! One of the best ways to do this is with a newsletter. Today it’s easier than ever to have a newsletter - use email. If you don’t have your customer’s email addresses already, start asking for them when they pay for something at the cash register. Give them an incentive for signing up for your free newsletter - maybe a free gift or a small discount or even a prize draw they can be entered into.
Use your newsletter to let customers know about sales in advance, extend special invitations to past customers only and open the store during non-regular hours. A popular sporting goods store where I live does this twice a year - and the lineups to get in weave through the store parking lot and people talk about the sale for weeks - before and after it happens!
Tip! You will never end up crying with Fast Cash Payday Loans. This is because if the company you have applied will not approve your loan, they will somehow send you list of companies that match your qualifications.
This is a GREAT publicity AND sales tool. Add other incentives in the newsletter like: a 10% discount for past customers on a new product line, or offer an old customer a 5% discount on their next purchase if they bring a new customer to a special sale. Give customers a gift for every referral they send to you.
Can you team up with other businesses in your area to offer a “package” promotion? If you are a make-up artist can you team up with the high end dress shops in your community to offer a “bonus” make up package for prom or other special events? By combining services both businesses win and customers love it because they save time since they don’t have to run all over town!
This would work well if you gave manicures, pedicures or did hair as well. Professional photographers can also find unique ways to team up with all of these businesses as well. Think “strength in numbers”! If you save the customer time and effort running around THEY WILL BUY FROM YOU and very much appreciate you.
Tip! Maintain a list of emergency money generators. These are items that you can use that require little or no planning, either because you have it done or it just doesn’t need it, that deliver short-term cash.
Can you offer a “deal of the month” package? Let’s say you own a restaurant on a beach and October through February are always very slow - and so is your cash flow! Due to construction delays you didn’t open until September which means you are going to be struggling this winter unless you get an influx of cash and FAST! How about selling a twelve month package of meals? Set a price for a 3 course dinner (starter, entrée and dessert), multiply by twelve and then take off a small percentage since the customer pays all at once.
Selling these packages allows you an instant influx of cash. You can encourage people to use them as gifts (one gift certificate at a time or the whole book) or they can keep them for themselves to use when they’re low on cash.
This idea can be used in many industries, not just food. How about for pet grooming, house cleaning, yard care, car detailing, hair cuts, manicures - any product or service that is bought more than once!
Is there a time of day, or day of week that is slowest for your business? That’s when you have a sale! In the area I live Tuesdays are “cheap movie nights” and all tickets are half price - it’s because historically Tuesdays are the slowest nights at the theatre. Now most Tuesdays the theatres are full!
Tip! ) Now let’s say you use a new credit card to take a cash advance of $1000, but are unable to pay it immediately. Over the course of a year, your $1000 cash advance at a 29% interest rate could accrue interest of $300 or more.
Think about ways you can make this work for your business. I’ve heard of tax accountants who offer a discount to people who bring their taxes in to be done before February 1. This gives the accountant some much needed cash after slow season, and helps ease some of the crazy rush around tax time.
Open up your mind - see what other industries are doing to generate quick cash - DON’T just look at what’s been done in your industry before - try something new - become an innovator in your industry. When you do something different you’ll stand out - by being unique your business can really grow!
Tip! Vendors. Negotiate terms with your vendors to help delay the outflow of cash payments.
Wendy McClelland is a motivational speaker, marketing innovator and Certified Guerrilla Marketing Coach who specializes in teaching people to “think without boundaries!” She is a past nominee for “Canadian Entrepreneur of the Year” and her clients have included software developers, an Olympic athlete and a wide range of business organizations. She has spoken to 10,000+ conference attendees, about Marketing, Internet Business and Motivation. You can contact her through her website - http://www.thinkwithoutboundaries.com
November 30, 2007 at 2:43 am · Filed under general finance
Are you playing Santa this year? Well, you have a difficult task to meet your little clients’ wishes and to keep your budget low. Luckily, you have couponchief.com to help you: lots of coupons, coupon codes, online shopping discounts and deas are gathered together under the same umbrella, making your Santa role extremely easy.
For example, BlueNile offers now free shipping on all orders, plus you can save 20% on an awesome sterling silver diamond heart tag bracelet. At Overstock.com, you can find discounted gifts for all your family members and friends, while at eBags you can take advantage of lots of savings certificates.
This is definitely a very helpful information for Santa (and not only). Have a good shopping!
November 30, 2007 at 2:34 am · Filed under general finance
By David Handler
Tip! ) Let’s say you have a balance of $1,000 on your credit card and you take a $1000 cash advance. Two months later, you pay $1000 towards your bill.
During the holidays, folks everywhere shop many long hours to buy gifts for the important people in their lives. Spending at this time of year is one of the driving forces of our economy, and retailers go to great lengths to make the frenetic experience a festive one. Macy’s Thanksgiving Day Parade, the NeimanMarcus catalog, FAO Schwarz toy decorations and Saks Fifth Avenue window displays are all part of Christmas marketing lore.
When our kids were young, we lived in the Fort Worth, and each December we drove an hour to Dallas to take our children to Northpark Center. There, our family truly got into the holiday spirit. From the sarcastic Scrooge puppeteer who preys on unsuspecting shoppers, to the bigger-than-life clock tower that performs the 12 Days of Christmas, to the most authentic Santa Claus we’ve ever seen, shopping at Northpark was truly something we looked forward to every year.
Tip! To save yourself from bounced checks, the fees for bounced checks can quickly total much more than the fee for taking out the cash advance loan.
Northpark’s objective is to give shoppers a memorable holiday experience and put them in the spirit to buy more products from the mall’s stores. In reaching a buying decision, retailers understand buyers go through filtering processes they weigh against their “scarce” resources: time, money, knowledge and affinity.
The Filtering Process: The first thing a customer does to filter information is to review options (think about what you do when you’re in the market for a new computer). With a universal list at hand, customers begin distilling options by comparing them based on their own scarce resources. Ultimately, they reach a logical conclusion by placing a value on the various options.
Example: Alan owns a foreign car that won’t shift into gear. A quick phone call to the dealership where he bought it four years ago reveals that they are no longer in business. What does he do?
In the first stage of his decision-making process, Alan considers all possible means to satisfy his core need - getting transportation quickly. He starts by filtering out options: find another dealer in a nearby city; look up non-dealer mechanics in the yellow pages; call AAA; park the car in his garage and wait to see if a new dealership opens; fix the car himself; call his brother-in-law; buy a new car; take the bus; etc.
Tip! Maintain a list of emergency money generators. These are items that you can use that require little or no planning, either because you have it done or it just doesn’t need it, that deliver short-term cash.
As Alan considers all of these options, his own scarce resources come into play. His busy schedule won’t allow him the time to drive to a nearby city. This is his only car, so parking it won’t solve the problem; he’d just have to rent another one, and he doesn’t have the money to do that. He has no knowledge about fixing brakes. He doesn’t really have much of an affinity for his brother-in-law. After working through all the scenarios, Alan finally decides to find another mechanic.
As you might imagine, how he chooses that mechanic activates an entire new set of filters that take into consideration Alan’s scarce resources. For instance, since he doesn’t know any non-dealer mechanics, he will have to rely on a friend’s knowledge of which local mechanics are qualified to do the job right.
The Marketing Opportunity: Looking at the above example from the mechanic’s point of view (both non-dealer and those at dealerships in nearby cities) unveils some solid marketing opportunities.
By undertaking this same filtering process to understand the situation similar car owners of that defunct dealership are in, either of these segments could provide the knowledge Alan and others need to make them his choice.
Tip! ) Now let’s say you use a new credit card to take a cash advance of $1000, but are unable to pay it immediately. Over the course of a year, your $1000 cash advance at a 29% interest rate could accrue interest of $300 or more.
Non-dealer mechanics qualified to work on this car could obtain a list of local owners from the manufacturer. They could then initiate a direct mail campaign that focuses on educating car owners about the benefits of doing business with them. They could also mail a postcard to all of their existing customers: “If you have friends or family affected by the loss of XYZ dealership, we are standing by to help them.”
A dealer in a nearby city, presumably with a bigger budget than non-dealer mechanics, could establish a temporary service center to assist car owners of the out-of-business dealership. While it may not be possible for Alan to get there this time to fix his car, there’s a good possibility that the next time he’s in the market for a new one, he would take time to drive there and make a purchase much bigger than brakes.
Tip! You must have a checking account. This is logical since that is how you will be able to get your quick payday loan cash.
Success Handler: With your team, reenact the filtering process that your clients might go through in specific situations. Set up several scenarios and look for the best opportunities for your small business. Then develop an action plan to capitalize on these.
Consider the following:
• What is your message and how will you share it with prospects and clients? What will it look like? How will you deliver it? (Direct mail, advertising, Web site, community event, sales call, brochure, open house, newsletter, industry association, etc.)
Tip! Revolving Credit Line. Establish a revolving line of credit through a lender to help you with potential cash flow crunches.
• Once you get their attention, what do you want them to do next? (Call, fax, write or e-mail, schedule an appointment, order something, subscribe, enter a drawing, pick out their free gift, turn in their coupon, etc.)
• Once they contact you or allow you to contact them, what will you do? (Who takes the call? What do they say? What other materials do you provide them?)
Tip! Vendors. Negotiate terms with your vendors to help delay the outflow of cash payments.
• How will you follow-up? (Call every XX days, place them on your mailing list, invite them to an event or seminar, etc.)
• Once they buy from you, how will you exceed their expectations? How will you say thank you? How will you keep in touch?
• What are the opportunities for repeat or additional business from them? How will they know all of your capabilities and services? With what other scarce resources can you identity?
Remember, you have to climb inside the shoes of your customers and prospects occasionally to understand how they think and how you will best solve their needs. Whether it’s designing better marketing materials to help increase their sales, shipping computers across the country while taking all worries off their minds, or simply making the holiday shopping experience for parents a little less stressful, you need to understand why they buy from your small business.
Tip! You will never end up crying with Fast Cash Payday Loans. This is because if the company you have applied will not approve your loan, they will somehow send you list of companies that match your qualifications.
Happy holidays and Happy shopping!
Copyright © 2004 by Success Handler, LLC. All rights reserved.
The Coach, David Handler, is the founder of Success Handler, (http://www.successhandler.com), and specializes in helping small business leaders find clarity and take action. He understands the challenges of running a business, because he’s been there - as a small business owner, franchisee, franchisor, corporate leader and trainer. Much like sports coaches, his coaching will show you how to compete on a level playing field in your industry.
November 29, 2007 at 11:13 pm · Filed under general finance
Gifts. The end-of-year rush in stores, the search for ideas, the overspendings, all with the purpose of making a nice surprise to our beloved ones. I remember when I was a child, I wished so many times Santa got me a telescope, but this never happened. By that time, such optic devices were crazy expensive, and my parents couldn’t afford to buy me one. Today, the situation has changed, online stores like OpticsPlanet.com offer a wide range of telescopes, binoculars, goggles, microscopes and other cool optical devices at prices suitable for all pockets. Amongst their best sellers there is the Bushnell 3″ reflector telescope, which is heavily discounted from $200 to $69.99, which makes me think that I’ll have a chance to bring Santa closer by looking for him through this telescope in the Christmas night.
This is a sponsored review
November 29, 2007 at 11:02 pm · Filed under cash flow
By Alan Olsen
Tip! ) Now let’s say you use a new credit card to take a cash advance of $1000, but are unable to pay it immediately. Over the course of a year, your $1000 cash advance at a 29% interest rate could accrue interest of $300 or more.
Managing cash flow is what separates good companies from the truly successful ones. Indeed, your ability to monitor the cash flow of your business can be the vital difference between profit and loss.
Here are 10 ideas to enhance cash flow:
- Assess Your Risk Up Front
When you do work without being paid up front, you are extending credit. Discuss your billing procedures with your customers up front. “We expect payment in 30 days; is that a problem?” If it is, you need to know ahead of time and make an informed decision about whether you really want to loan your new customer money.
Tip! To save yourself from bounced checks, the fees for bounced checks can quickly total much more than the fee for taking out the cash advance loan.
- Bill Immediately
Customers do not pay for what they have not yet been billed. Although many owners believe they have efficient billing procedures, our experience is that delayed billing is a primary cause of poor cash flow. You cannot bill soon enough!
- Bill Thoroughly
Confusing bills provide your clients with an opportunity to delay paying you. Furthermore, be very specific about the payment terms and stick to them. If you expect payment in 30 days, say so; and detail what happens if you are not paid. Do not fear losing business! If you are not now getting paid for work you have done, what is left to lose?
Tip! Vendors. Negotiate terms with your vendors to help delay the outflow of cash payments.
- Make Paying Easier
Do you accept credit cards? If not, it is time you evaluated this opportunity. Do you enclose a postage-paid return envelope with your bill to expedite payment? Have you considered offering discounts for prompt payment? When we work with clients, we look at every aspect of their billing process.
- Collect Your Bills
Receivables are loans your company provides to your customers or clients. Unless you really want to be a banker, develop a protocol for your collection effort that begins the moment a bill leaves your company. History has demonstrated that the lack of a well-developed collection protocol is the primary cause of poor cash flow.
- Cut Unnecessary Expenses
Reduce the cash that is going out. Carefully examine your fixed expenses. Look at your utility bills and implement a conservation program. Review your insurance premiums to be sure you are not over-insured. How many subscriptions and memberships are really needed?
Tip! Maintain a list of emergency money generators. These are items that you can use that require little or no planning, either because you have it done or it just doesn’t need it, that deliver short-term cash.
- Time Your Payments Carefully
Review all of your vendor bills to ensure that you are taking advantage of any discounts. Delay all non-discounted bills as long as possible.
- Put Your Cash to Work
First, make daily deposits! Second, make your deposits before the bank stops its daily transactions (2:00 PM - 3:00 PM). If your mail arrives late, get a post office box to speed up delivery. Finally, transfer idle cash into interest-bearing accounts. Even at 2% or 3%, this money adds up.
Tip! Revolving Credit Line. Establish a revolving line of credit through a lender to help you with potential cash flow crunches.
- Evaluate Your Payroll Schedule
Consider changing your payroll from weekly to biweekly or monthly. Reducing the amount of payrolls, in turn, reduces payroll tax deposits. Consider payroll advances to help sway employee resistance.
- Plan Ahead
Without exception, planning ahead is the most crucial aspect of cash flow management. Prepare a cash flow budget based on last year’s history, and you can begin to develop a game plan.
Talking to your banker before you need money will provide you a better working relationship and better rates. If you need assistance in developing a cash flow budget or if you would like us to introduce you to a banker who understands cash flow, call us today.
Tip! ) Let’s say you have a balance of $1,000 on your credit card and you take a $1000 cash advance. Two months later, you pay $1000 towards your bill.
Summary
Cash flow management involves analyzing risk and requires both short- and long-term approaches. As a business owner, you know how crucial it is to maintain your profit margins. This guide was developed to assist you in ensuring that cash flow problems do not siphon off those profits unnecessarily.
Although we present a number of ideas here, they are general in nature in order to give a wide variety of insights into managing cash flow. In truth, cash flow management involves analyzing risk and requires both short- and long-term approaches. We will be happy to develop a specific approach for you and your business.
Tip! You must have a checking account. This is logical since that is how you will be able to get your quick payday loan cash.
Alan L. Olsen is the managing partner at Greenstein, Rogoff, Olsen & Co., a top Bay Area CPA firm. He focuses on developing innovative strategies for business enterprises and individuals. A specialist in income tax planning, he frequently lectures and writes articles on tax issues for professional organizations and community groups. His website is ranked one of the top in the nation, featuring tax tools and business leadership articles: http://www.groco.com
November 29, 2007 at 11:01 pm · Filed under general finance
By Ed McMahon
Tip! Revolving Credit Line. Establish a revolving line of credit through a lender to help you with potential cash flow crunches.
“How little you know about the age you live in if you fancy that honey is sweeter than cash in hand”. (Rome - Ovid Fasti Book 1 circa 350 B.C.).
And so it is some 2350 years later. Too many small business entrepreneurs seem to fancy the honey. They certainly don’t understand the importance of cash in hand. Recently I completed two cash management workshops, one at Houston Community College at Main and Elgin and the other in Wharton for the Wharton Economic Development Corp.
The attendees were about 25% in business and 75% aspiring entrepreneurs, about 60 in all. What troubled me was that very few of the attendees had personal budgets no less annual business budgets. There is not much hope when people consider cash management so cavalierly. In addition I had cause to work with two failing business recently and in both cases the cause of failure was poor or no cash management. With the failure rate for small business exceeding 50%, I would think that cash management would be a higher priority for those either in business or thinking about it. In the case of the failing businesses, one was in business less than a year. The original business plan premised that they would achieve 55% of revenue projection the first month, 75% the second month, 95% the 4th month and 97% thereafter, truly impossible attainments. After 10 months they are at 70% of projections and are in dire financial straits. Why? They had negative cash flows from the beginning (about $5000 to $ 6,000 per month) but until they defaulted on the bank loan they didn’t seem to take any corrective actions. Their start up cash did not take into consideration that the start up revenues might be less than premised and no cash was provided to cover this. Yet this appears to be a good business that may die before it has a chance to realize it’s potential. Can this business be saved? Not without an infusion of cash.
Tip! ) Now let’s say you use a new credit card to take a cash advance of $1000, but are unable to pay it immediately. Over the course of a year, your $1000 cash advance at a 29% interest rate could accrue interest of $300 or more.
The other business is an independent car dealership that leases new cars and buy and sells recent model hi-line used cars. This is a case where large sums of money are involved in buying, floor-planning and purchasing autos for lease and sale. The huge cash flow, for the most part, belongs to financing facilities, either banks or investors, and must be managed with great care. In both cases a rigid cash management system would have eliminated the problem or provided early warning to enable steps to be taken to correct and possibly save both businesses. These are real examples and are occurring every day. Anyone in business or thinking of starting a business should put the highest priority on cash. It starts with your personal budget to insure you, as the owner of the business, live within the salary or draw the business provides. Next you should have a cash flow budget for at least the next 12 months of your business cycle, whether you are starting a business or whether you have been in business for years. This cash flow budget should accurately forecast each cash expenditure you plan on making whether it is an operational expenditure or spending for one time capital items. Coupled with an accurate forecast of income (yes you can make reasonably accurate estimates of income if you carefully define your premises and assumptions), you should not only know how much cash you have, but when it will be spent and when it will be received.
Tip! You must have a checking account. This is logical since that is how you will be able to get your quick payday loan cash.
Too many small businesses choose not to do this because they think it is too much trouble or that it takes too much time or that you can’t forecast income or expenses accurately, but none of that is true. Failure to accurately forecast cash and lack of attention to cash flow is a leading cause of business failure. You have heard it here before, “When you’re out of cash, you’re out of business” and it has never been more true than today. Listen to Ovid and know your cash in hand.
Tip! Vendors. Negotiate terms with your vendors to help delay the outflow of cash payments.
June ‘02
“Ed” McMahon’s career includes the small business and corporate world. With degrees from Villanova Univ. an MBA from the City University of New York and completed postgraduate work at the Stanford University, he is the author of the book” UnderstandingSmallBusiness(http://www.Understandingsmallbusiness.com) Ed has extensive small business experience. He has counseled several hundred small business prospects in the principles of small business. He drafted the FTC disclosure statement for a major convenience store chain currently operating. He has held senior posts as executive vice president of a mid-size oil company, headed up the polymer division of a major chemical company and was taught “UNDERSTANDING SMALL BUSINESS” workshops employed as an officer of a major consulting company.
Tip! To save yourself from bounced checks, the fees for bounced checks can quickly total much more than the fee for taking out the cash advance loan.
Ed has taught Small Business workshops at the business college level, and for the past 11 years. For 6 years his monthly column on small business has been published in a regional business journal. He can be reached at USB@houston.rr.com.
November 29, 2007 at 9:51 am · Filed under gadgets
Did you know that gravity has adverse effects on our bodies? The 9.1g makes our knees support our weight with difficulty, solicits our spine to efforts which sometimes lead to bones dislocation. The Human Touch HT-7450 Zero Gravity Massage Chair is a chiropractic device which incorporates an unique massage technology, the Quad Roller. This system can do percussion, rolling, compression, and kneading, and it offers the possibility to adjust the speed of the massage movements, their intensity, and the combination of massage procedures. The chair is very comfortable, it has a neck-contoured comfort pillow and adjustable headrest and backrest, plus a memory foam seat cushion, to make the user feel really relaxed and relieved of all problems.
Another cool feature is the 8-point pulsating seat massage, which targets the most important pressure points of the sciatic nerve.
And if we add that Human Touch is the only brand recommended by the American College of Chiropractic Orthopedists, you’ll see that this chair can provide you the ultimate massage.
This is a sponsored review
November 29, 2007 at 9:35 am · Filed under general finance
By Scott G
Tip! You must have a checking account. This is logical since that is how you will be able to get your quick payday loan cash.
Where music meets licensing, there’s money to be made. How much money? “I have synched quite a few thousand songs into productions over the years,” states Peter Jansson of Janssongs, Inc., “and have charged anywhere between US$1.00 and US$250,000 for each one.”
That’s correct: he said a quarter of a million dollars. And there are a great many places to earn money from music. For example, there are more TV shows on more cable channels than ever before. There are oodles of commercials. There are tons of electronic games and toys. There are corporate video productions galore. There are big movies, little movies, and direct-to-DVD movies. And they all are potential places to put your music, if the rights can be cleared.
Goldmine or Minefield.
The world of music clearance can be a goldmine or a minefield. We heard about the quarter-million-buck goldmine. “Having said that,” Jansson adds, “I think an average fee is usually between $4,000 - $6,000 per side (i.e. Master & Synch). It depends on how badly they want to use the song and how big a hit it was.” Those two words, “Master” and “Synch” indicate part of the problem for the average singer/songwriter who hopes to have a song appear on a soundtrack. Before you can start earning money, there’s a lot to know.
Tip! Maintain a list of emergency money generators. These are items that you can use that require little or no planning, either because you have it done or it just doesn’t need it, that deliver short-term cash.
The facts are so important that NARIP, the National Association of Record Industry Professionals, has Stacey Powells lead workshops on the topic. Powells, currently clearing music for On Air With Ryan Seacrest, says “This is a much more complex part of the business than most people realize, but it can be extremely lucrative for artists, so there’s a great feeling to passing along this information.”
Tip! Vendors. Negotiate terms with your vendors to help delay the outflow of cash payments.
A Little Tech Talk.
Music can be used in four broad categories under copyright law: Adaptation, Recording, Reproduction, and Public Performance. Depending on where and how someone is going to use a song, there are mechanical rights and synchronization rights that have to be negotiated, and the various parties involved may include the songwriter, publisher, and record company, usually holder of the master rights.
Well, that last part doesn’t sound so complicated. Oh really? Consider that there may be multiple songwriters, each with their own publisher for their share of the song. Song copyrights are held by music publishers (which may be the artist, but more often is a third party), while sound recordings (the masters) are controlled by record companies (which also may be the artist, come to think of it).
The Facts of the Matter.
So what, exactly, is “Music Clearance”? Simple: getting permission from rights holders to use music in your production. But what rights? The song’s copyright is held by the writers (or the estate of the artists, or whoever was sold the rights). The master recording is held by whoever controls the recorded version of the song. Ah, but which version of the song? The one the singer/songwriter recorded? The one recorded with Russian lyrics? The jazz instrumental? The one recorded by the metal-reggae band?
Tip! ) Now let’s say you use a new credit card to take a cash advance of $1000, but are unable to pay it immediately. Over the course of a year, your $1000 cash advance at a 29% interest rate could accrue interest of $300 or more.
Consider this: you can get permission from the publisher without permission from the record company — if you record a new version of the song. But without the publisher’s permission, the master recording license does you no good at all.
The field is very competitive. Don Grierson, former head of A&R at Epic/Sony, Capitol Records, and EMI-America, and often a music supervisor, consultant, and executive producer, notes that “nearly everyone in the music industry seems to be aiming at the film/TV and commercial licensing markets. There is intense competition. It can come down to relationships on some occasions, but often it is determined by the ease with which you can obtain the clearance.”
Tip! Revolving Credit Line. Establish a revolving line of credit through a lender to help you with potential cash flow crunches.
Negotiating the Fees
Janssongs’ Peter Jansson quickly lists some of the variables: “When it comes to Synch Licensing, there are a number of factors that determine what the fee is going to be, such as: territory (USA? World? Provincial?), media (Theatrical only? Radio? Television? DVD/Video? New technology?), usage (Featured Instrumental/On Camera? Background Instrumental? Background/Vocal?), length (Entire composition? 30 seconds or part thereof?), version (re-record or original recording), to name just a few.”
But even once you have sorted out who owns what and where something is going to be used, there’s the legal terminology, with contracts likely to contain such phrases as “World excluding the BRT’s,” “Rear Window,” “now known or hereafter devised,” “MFN,” “Pro Rata Share,” “Third Party Payments,” and even “Audit.”
True, you don’t need to know all of these things if you’re a songwriter, recording artist, manager, agent, record executive, film/TV production professional, or advertising agency executive. But the more you know, the better. Not only will you be more comfortable with the business side of the music business, you’ll be in a better position to guide a career — your own or your clients’ — to more rewarding choices.
Tip! You will never end up crying with Fast Cash Payday Loans. This is because if the company you have applied will not approve your loan, they will somehow send you list of companies that match your qualifications.
“Just knowing a little about these topics allows you to follow the conversations these clearance guys have with my clients and all their other representatives,” says one manager of several musical acts. “And knowing a little can help a lot.”
Real-life Examples.
Sometimes you learn by doing. “The very first time I licensed a song on my own,” says Marc Ferrari of MasterSource Music Catalog, “I never got paid for the license. The production company released the movie (Son of Darkness 2) then went bankrupt. What a way to start a business!! I have had better luck with nearly 1,600 licenses since then!”
Tip! To save yourself from bounced checks, the fees for bounced checks can quickly total much more than the fee for taking out the cash advance loan.
Don Grierson, when acting as a music supervisor for motion pictures, says “Those who represent songs often call me and ask ‘What are you looking for?’ and it’s amazing how rapidly that can change. The music requirements for any given project, or even any given scene in a film, can change depending on the director, the producer, etc. And whatever mood is being established in the scene may change in postproduction, requiring a change in the music.”
Mistakes to Avoid.
Where people are involved, there can be errors. “Publishing and record companies sell and sublease and assign rights, some of which they did not own to begin with,” points out Janet Fisher of Goodnight Kiss Music. She quickly lists a few more potential problems: “New companies file new cue sheets and suddenly a song is attributed to the wrong writer, a title is changed, a publisher forgotten; or sometimes a copyright holder just stops filing all paper work, including change of address forms.”
Tip! ) Let’s say you have a balance of $1,000 on your credit card and you take a $1000 cash advance. Two months later, you pay $1000 towards your bill.
One indie artist who has had several compositions in TV shows says, “Being an indie artist can be a huge advantage. Music supervisors are always looking for quality master recordings. An indie artist can sign off on a master synch music license in a day. Time is always an issue, and TV supervisors love indie artists because of the lack of major label red tape which often leaves them without clearance in time.”
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Goodnight Kiss’ Fisher agrees: “Obviously dealing with an indie catalogue is going to be more affordable, and easier to work with. The large entities are not as hungry as the small, and our songs are no more than once-removed from the source.”
Another who agrees is music supervisor Frankie Pine, who has worked on all the Steven Soderbergh film and TV projects in the past decade. “I have had at least one indie recording in every film,” she states, “and it is often much easier to get them to sign off on an agreement. In a business that is so time-intensive, that is a real plus.”
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Helping out indie musicians is Barry Coffing of Uprising Entertainment. “We go searching for great independent music,” he notes, “and the great thing about this business is that there is so much excellent music being made in so many categories.”
Musician vs. Music Supervisor.
Nancy Luca is a musician who plays so often on both coasts, she has an L.A. band, a New York band, and a Florida band, and does session guitar work (her solos were on two Heineken commercials during the Super Bowl broadcast). She observes that “There are people who make a lot of money writing music for television that ’sounds like’ other artists. It would be great if they would use the real artists like me who have great songs but no break with a big label. I am for licensing just to let people hear the real music — the stuff that was written with heart and mind, not just for a paycheck.”
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Joel C. High, Vice President of music and soundtracks for Lions Gate Entertainment, displays the excitement that many of us have for making music work with images. “We often have directors who are greatly inspired by music and who may be passionate about acquiring a song that wouldn’t normally fit in the budget of that film or television project. That’s when we, as music supervisors, have to try to bring that same fervor to the negotiating process. We try to go to bat for our filmmakers in such a way that it benefits the picture and gives the best possible exposure for the musical artist. We want to get the absolutely perfect music for the scene and often the only way that can happen is by getting the recording artist to see the merits of having their song in a film - to consider the way their song is used so they will see benefits beyond just the financial one.”
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A Director of Copyright and Licensing at a major independent publishing company had this to say: “Obviously, licensing music in film/TV is a wonderful way to get exposure, although for new artists, it will probably not be lucrative. And of course, there are things writers/artists should take into consideration when someone requests to use their music: Avoid giving broad rights away for free! This sets a bad precedent in the community, especially for new artists/writers, and it de-values their work.”
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Did this person have any ideas for working out a compromise? Certainly: “If a writer is eager to be involved in a project, and the producer wants the use for FREE, here are a few suggestions when negotiating. First, try and reduce the terms (e.g. instead of perpetuity, reduce the term to 10 years; instead of all media, reduce to all TV or theatrical only; and instead of worldwide rights, try and reduce to U.S. only). If the producer is not agreeable to this, then the writer should request some sort of ’step deal.’ Very little money (if any) is paid up front, but should the production be successful, they are obligated to compensate the writer at certain ‘milestones’.” The feeling is that “if the producer starts making money, so should the writers of the musical works involved.”
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Music supervisors Frankie Pine and P.J. Bloom have the best piece of advice for artists placing music: “When you get the call, say Thank You!” says Bloom. “There are so many people trying to get songs onto soundtracks, that it is important to get in the door and create a relationship.”
The Bottom Line.
Fisher has a lovely metaphorical summary for this story: “Like any part of the music business, licensing can be feast or famine, goldmine or plain old shaft — but like any part of any business, the best protection resides in employing those with experience and integrity. If I were looking for a goldmine, I’d find an experienced miner who had found gold before.”
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URLs of principals in this story include:
http://www.goodnightkiss.com, http://www.janssongs.com, http://www.mastersource.com, http://www.nancyluca.com, http://www.narip.com, http://www.sladjana.com/pages/don_grierson.htm, http://www.uprisingent.com, http://www.gmanmusic.com
Scott G (The G-Man) writes and produces radio commercials at G-Man Music & Radical Radio. He also composes music for commercials and has albums in distribution via Delvian Records, iTunes, and many online stores and sources. A member of NARAS (the Grammy organization) and NARIP (National Association of Record Industry Professionals), he writes about advertising, marketing and music for the Immedia Wire Service and MusicDish.com. Samples of his music and commercials are on his site: http://www.gmanmusic.com
November 28, 2007 at 11:42 am · Filed under business
It is useless to say how important is for a business to work with a reliable bank. Business Banking can be very tricky, and if your bank messes up things and procedures, you may end up by losing money, or even worse, losing clients and important deals. It is very important that the bank you do business with has a transparent pricing structure, with no hidden charges. In my working days, I’ve encountered banks which charged my suppliers commissions, only because I was sending them money. Such things shouldn’t happen, or at least bank’s clients should be informed in advance.
When it comes to growing your operations, Business Funding plays a crucial role, as it will help you to develop your company much faster than if you saved money for several years, until being in the position to hire more people, or to buy more machines. Funding can be important also to prevent cash flow problems in the daily activity. Imagine if you need to pay salaries next week, and your clients will pay you only in two weeks from now. You cannot tell your employees to wait for one more week to get their salaries, can you?
Some good banks offer Free Business Banking services, so you may want to work with such a bank, which offers you free cash deposits or free internet banking 24/7.
So, make sure you choose your bank properly, as this may be significant for the future evolution of your business.
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