If you're serious about working at home, you'll need to create a comfortable space where you can work undistracted. Whether your home office is a corner of the family room or a separate room altogether, this primer can help you get started. What follows are your home office essentials.
The Basics
Computer – While you may be tempted to pick up an inexpensive model,consider buying the best computer you can afford. It pays to purchase amodel that will last for several years than to continue to pay formultiple upgrades. Busy parents should consider a laptop for thosemoments they need portability. A small laptop can go with you to theplay room, back deck and playground.
Software – There's no way around it. If you want to work athome, you'll need the essentials. If you haven't yet installedWord, Excel and other necessary Microsoft Office software, you'llneed to do so. Most employers expect you to use Word, Excel and PowerPoint, but these programs can be expensive.
If money is an issue, visit openoffice.org and download Open Office for free. Open Office offers software alternatives compatible with the Microsoft programs. Another free program that's an absolute must is Adobe Reader. You'll need this to open PDF files. Download this at Adobe.com.
If you're not sure how to use these programs, there are plenty of free onlinetutorials to help you. The library also offers plenty of "how-to" books and tutorials.
High Speed Internet – Dial-up is no longer acceptable in today'sbusy home office. Employers want reliability and speed. Dial-up may becheaper, but it's not better. Considering how you can write off manyhome office expenses, including your Internet service, why would you usea slow connection?
Desk or work station – You don't need to have anything fancy, butyou do need to have a work area that's sturdy, holds all of yourequipment and supplies without being crowded, and allows you to move incomfort. For some people this is an old kitchen table, for others it'san entire work cubicle. Decide what will work best for your space.
Dedicated Phone Line – Depending on your line of work, you mightneed a dedicated phone line. If you will be spending a great deal oftime on the phone you'll want your own line, one family members won't beusing all of the time.
Headset – If you're going to be working a job requiring you tospend a lot of time on the phone, a headset is a must. Nowadays,headsets are lightweight, comfortable and many consist of a single piecefitting over one ear.
Comfortable Chair – If you're going to be sitting for hours at atime, you'll want a chair offering good back support and comfortableseating. A wheeled chair allowing you to move freely between stations isbest, but not mandatory.
Scanner or Fax – This too depends on your work at home job. If youfind you need to copy or send documents on a regular basis, these itemsare necessary staples. If you only need to fax the occasional contractor paperwork, it's probably more cost-efficient to visit your localcopy center.
File Cabinet – This can be a one drawer or four drawer depending onyour needs. Even if your job doesn't generate a lot of paper,you'll still need to store check stubs, receipts and contracts.
No Printer?
Notice I didn't say printer? That's because most home workers don't needone. In fact, most of us email our work directly to the client. Thatisn't to say you shouldn't have a printer for household or familybusiness, however. If you can't afford to give up spare work space,there's no shame in keeping the printer in a closet until you havesomething to print.
Keep Organized
Once you have the essentials, you can start to set up your office. Thinkcarefully about where to put each item. For instance, a bulletin boardshould be in your direct line of sight so you can see calendars andreminders at a glance. Often used office supplies work best within ahand's reach, while others can be stowed away in a drawer.
Keep your work area neat and tidy. Consider buying slotted trays andfile holders to store important papers. You'll waste less timehaving an organized work space than if you have to hunt through clutterto find paperwork.
A Quiet Space
It's best to have a door you can shut keep out the noise. Of course thisis easier said than done when working in a home with children. Afterthey are in bed however, you may need to close out the world and take afew quiet hours to work.
It's What You Make of ItYou don't need to spend thousands of dollars on the latest equipment orhave an addition attached to your house. Your home office can be anyspace where you can work comfortably and in a productive manner. Whetherthat's a card table in your basement or a 20-piece work station isentirely up to you.
By Deborah Ng
NOTE: It was not mentioned in the above article but I highly recommend installing at least 2-3 different types of antivirus/antispy software on your computer. Free versions work fairly well, but it is always a good idea to invest into one individual FULL version application,which will provide you with greater protection in the long run and employers are more apt to consider you for many projects to come. As a matter of fact, most employers do require that you have some form of an antivirus/antispyware on your computer.
Thursday, August 6, 2009
Saturday, June 6, 2009
Choice: Stay At Home or Corporate Career?
One Size Does Not Fit All
Does it seem that everyone you know has become a stay-at-home mom? This must mean you should stay at home with your children too, right? Not necessarily. You know yourself better than anyone else. Will you feel fulfilled if you leave your career behind? Are you prepared to exchange daily power lunches for daily power struggles?
Be honest with yourself. If you have severe doubts about your ability to handle the challenges of being a stay-at-home mom, then don't be so quick to chuck your high heels and briefcase. Instead, consider trying the stay-at-home test.
Take your two-week vacation at home this year and get a glimpse of life as a stay-at-home mom. If you like how it feels, submit your letter of resignation. If it doesn't feel right for you, then return to work knowing that for now, working outside the home full- or part-time is the right decision for you.
It's a Family Affair Your decision affects all family members, so get their input before you cast the final vote. Invite them to a family meeting and briefly discuss the options you are considering. Ask for their opinions. This approach will put you in a much better position to make a decision you can live with, because you can incorporate their needs and desires into your decision.
Review Your Finances Family finances sometimes can make the decision for you. Your income may be needed to keep things status quo. But are you and your family happy with the status quo? Would you be more content at work if you knew you were working by choice and not necessity? Would you be willing to forgo that new minivan in exchange for an opportunity to be at home with your kids?
Take control of your life. Meet with a financial planner to see if you can whip your finances into shape. A little belt tightening here and there will put you in a much better position regardless of which path you choose.
Look for the Gray Area Some people only think in terms of black and white. You are either a full-time stay-at-home mom or you work in an office 40-plus hours a week. But look a little bit harder, and you will see shades of gray.
A number of women have chosen to keep feet in both worlds. They may work part-time, do volunteer work or even start their own businesses so they can have the flexibility they need to care for their families.
Don't Look Back It's a good idea to reevaluate your situation from time to time, because family needs change, but don't keep second-guessing yourself. You will know when the decision you made is no longer right for you and your family, and you can always make changes.
====================================================================
Article Written By Roberta Chinsky Matuson
Monster Contributing Writer
Does it seem that everyone you know has become a stay-at-home mom? This must mean you should stay at home with your children too, right? Not necessarily. You know yourself better than anyone else. Will you feel fulfilled if you leave your career behind? Are you prepared to exchange daily power lunches for daily power struggles?
Be honest with yourself. If you have severe doubts about your ability to handle the challenges of being a stay-at-home mom, then don't be so quick to chuck your high heels and briefcase. Instead, consider trying the stay-at-home test.
Take your two-week vacation at home this year and get a glimpse of life as a stay-at-home mom. If you like how it feels, submit your letter of resignation. If it doesn't feel right for you, then return to work knowing that for now, working outside the home full- or part-time is the right decision for you.
It's a Family Affair Your decision affects all family members, so get their input before you cast the final vote. Invite them to a family meeting and briefly discuss the options you are considering. Ask for their opinions. This approach will put you in a much better position to make a decision you can live with, because you can incorporate their needs and desires into your decision.
Review Your Finances Family finances sometimes can make the decision for you. Your income may be needed to keep things status quo. But are you and your family happy with the status quo? Would you be more content at work if you knew you were working by choice and not necessity? Would you be willing to forgo that new minivan in exchange for an opportunity to be at home with your kids?
Take control of your life. Meet with a financial planner to see if you can whip your finances into shape. A little belt tightening here and there will put you in a much better position regardless of which path you choose.
Look for the Gray Area Some people only think in terms of black and white. You are either a full-time stay-at-home mom or you work in an office 40-plus hours a week. But look a little bit harder, and you will see shades of gray.
A number of women have chosen to keep feet in both worlds. They may work part-time, do volunteer work or even start their own businesses so they can have the flexibility they need to care for their families.
Don't Look Back It's a good idea to reevaluate your situation from time to time, because family needs change, but don't keep second-guessing yourself. You will know when the decision you made is no longer right for you and your family, and you can always make changes.
====================================================================
Article Written By Roberta Chinsky Matuson
Monster Contributing Writer
Tuesday, May 12, 2009
Work At Home Myths & Facts
Working remotely requires mobile professionals not to buy into the myths, and instead promote the reality and potential that remote work arrangements can provide. Discover the myths of remote work and how to prevent them from becoming reality.
1. Get Up When You Want
Myth: You will still be bound by the hours of operation of your work place, so thinking that you don't have to start working until noon is a very bad idea to have and an even worse practice to get into.
Fact: You rely on onsite co-workers to be available when you need them, so it's important that you are considerate of their needs. Even when traveling you must still let your office be aware of when and where you can be reached, with applicable time differences taken into account.
2. Work When You Want
Myth: Working when you want is part of the appeal of remote work. The reality is that you may be restricted to working within a specified set of hours each day. For example, some companies only have their computer system available and running for a set period each day. The system is not available beyond that time.
Fact: The hours you work should be put into any Remote Work Agreement to avoid problems
and misunderstanding.
3. Work in Your PJ's
Myth: You can work in your pj's every day or even work naked! Dress rules no longer apply.
Fact: People who get dressed properly each morning tend to have higher productivity and feel better about themselves. Some people set up a routine for themselves where they get up and proceed just as though they were going to the office.
When traveling, you may wish to wear more casual attire until you reach your destination, then
change into your suit or other appropriate attire.
4. All Play and No Work
Myth: You can spend all day playing the latest computer games or work on perfecting your golf
scores. You don't have to account to anyone for your time.
Fact: You will get found out and you could risk losing your job - not just the remote work arrangement. Save game playing for non-work time. When traveling by air or rail, play should be a last priority and only if completing any work is not possible. Think of the impression you leave with others who may see you.
5. Social Phone Calls All Day
Myth: You can spend all day talking with friends and family. You don't have to worry about co-workers trying to reach you.
Fact: Tying up your phone with personal calls may cause you to miss important work related calls. This is very true when traveling as you may not have Internet access and cannot check e-mail as often. If you use your cell phone often and for non-work related matters you will be responsible for the charges incurred.
6. Visit with Family & Friends
Myth: Spending time visiting eases isolation and is great while traveling.
Fact: Whether you are working from your home office or traveling to other locations, you should not use company time for visiting. Doing so violates the trust placed in you and shows no respect for the company that you work for.
7. Never See the Office Again
Myth: You will never have to return to the office site again, for any reason.
Fact: For some this just may be one of the biggest reasons to work remotely. You can avoid all the distractions, stay out of the politics and rumor mills. This is not realistic.
If one reason that has motivated your desire to work remotely is to get away from people in the
office, please don't broadcast that! It is in your best interest to keep quiet and just enjoy
privately that you won't have to be there.
8. Royal Treatment
Myth: You are owed and entitled to all the luxuries that hotels offer while traveling, on the company dime of course.
Fact: If you believe this, you are mistaken. You are not there for your personal pleasure and the bills are being paid by your company. Use common sense when traveling and don't go overboard with room service or other expensive activities unless you are prepared to pay for them yourself and use them on your own time.
9. Gadgets Galore
Myth: You need all the latest and greatest gadgets known to work remotely.
Fact: Use only the mobile gear that allows you to accomplish your job and that is absolutely required to do so.
Your company has a budget to follow and providing mobile workers with all the latest and greatest mobile gear can have significant impact on their bottom line.
Remember part of the appeal remote work offers company is saving money - eating the budget with mobile gear defeats that purpose.
10. Out of Sight = Out of Mind
Myth: You will be forgotten about and never receive another promotion or raise again.
Fact: Just because you are not in the office everyday does not mean you have fallen off the promotion track. With well trained managers and proper evaluation procedures in place, remote workers should have no fear of losing out on promotions because of their work environment.
==================================
Article Written By,
Catherine Roseberry, Author
Your Guide to Mobile Office Technology
1. Get Up When You Want
Myth: You will still be bound by the hours of operation of your work place, so thinking that you don't have to start working until noon is a very bad idea to have and an even worse practice to get into.
Fact: You rely on onsite co-workers to be available when you need them, so it's important that you are considerate of their needs. Even when traveling you must still let your office be aware of when and where you can be reached, with applicable time differences taken into account.
2. Work When You Want
Myth: Working when you want is part of the appeal of remote work. The reality is that you may be restricted to working within a specified set of hours each day. For example, some companies only have their computer system available and running for a set period each day. The system is not available beyond that time.
Fact: The hours you work should be put into any Remote Work Agreement to avoid problems
and misunderstanding.
3. Work in Your PJ's
Myth: You can work in your pj's every day or even work naked! Dress rules no longer apply.
Fact: People who get dressed properly each morning tend to have higher productivity and feel better about themselves. Some people set up a routine for themselves where they get up and proceed just as though they were going to the office.
When traveling, you may wish to wear more casual attire until you reach your destination, then
change into your suit or other appropriate attire.
4. All Play and No Work
Myth: You can spend all day playing the latest computer games or work on perfecting your golf
scores. You don't have to account to anyone for your time.
Fact: You will get found out and you could risk losing your job - not just the remote work arrangement. Save game playing for non-work time. When traveling by air or rail, play should be a last priority and only if completing any work is not possible. Think of the impression you leave with others who may see you.
5. Social Phone Calls All Day
Myth: You can spend all day talking with friends and family. You don't have to worry about co-workers trying to reach you.
Fact: Tying up your phone with personal calls may cause you to miss important work related calls. This is very true when traveling as you may not have Internet access and cannot check e-mail as often. If you use your cell phone often and for non-work related matters you will be responsible for the charges incurred.
6. Visit with Family & Friends
Myth: Spending time visiting eases isolation and is great while traveling.
Fact: Whether you are working from your home office or traveling to other locations, you should not use company time for visiting. Doing so violates the trust placed in you and shows no respect for the company that you work for.
7. Never See the Office Again
Myth: You will never have to return to the office site again, for any reason.
Fact: For some this just may be one of the biggest reasons to work remotely. You can avoid all the distractions, stay out of the politics and rumor mills. This is not realistic.
If one reason that has motivated your desire to work remotely is to get away from people in the
office, please don't broadcast that! It is in your best interest to keep quiet and just enjoy
privately that you won't have to be there.
8. Royal Treatment
Myth: You are owed and entitled to all the luxuries that hotels offer while traveling, on the company dime of course.
Fact: If you believe this, you are mistaken. You are not there for your personal pleasure and the bills are being paid by your company. Use common sense when traveling and don't go overboard with room service or other expensive activities unless you are prepared to pay for them yourself and use them on your own time.
9. Gadgets Galore
Myth: You need all the latest and greatest gadgets known to work remotely.
Fact: Use only the mobile gear that allows you to accomplish your job and that is absolutely required to do so.
Your company has a budget to follow and providing mobile workers with all the latest and greatest mobile gear can have significant impact on their bottom line.
Remember part of the appeal remote work offers company is saving money - eating the budget with mobile gear defeats that purpose.
10. Out of Sight = Out of Mind
Myth: You will be forgotten about and never receive another promotion or raise again.
Fact: Just because you are not in the office everyday does not mean you have fallen off the promotion track. With well trained managers and proper evaluation procedures in place, remote workers should have no fear of losing out on promotions because of their work environment.
==================================
Article Written By,
Catherine Roseberry, Author
Your Guide to Mobile Office Technology
Telecommute OR Run My Own Business?
WHAT IS TELECOMMUTING?
Telecommuters work for one or more companies that offer telecommuting jobs. The most common jobs are outbound and inbound phone calls. These are usually sales or customer service calls. There are also quite a few data entry positions available. Competition for telecommuting jobs is fierce. It may take a little while to find your first job, but once you get a foot in the door, and have some experience in the industry to add to your resume it will get easier to get other positions.
Telecommuters know how many hours per week they are going to work and as well as what time they work. For example, a telecommuter may work from 7 to 11 am Monday through Friday. The big advantage of working as a telecommuter is that you get a paycheck each week, or every other week that you can count on. You know exactly how much money you will have coming in and can budget accordingly.
Even though it is referred to as a telecommuting job, telecommuters are usually independent contractors who are responsible for their own taxes, and don’t enjoy any of the benefits like insurance, paid vacation and a 401K plan that traditional employees receive.
The disadvantages are that you can only work as many hours as the company has work for you, and the company decides how much to pay you. This obviously limits you in the amount of money you can earn as a telecommuter. Yes, you can sign up with several telecommuting companies to get more hours, but in the end, the day only has 24 hours and you are limited in how much you can work in a given week.
WHAT IS OWNING YOUR OWN BUSINESS
Owning your own business gives you a lot of flexibility. You decide what your online business is going to be about. The only limiting factor is whether or not it is profitable. You also make your own hours and decide how much you want to earn.
If you have a service based business, like working as a Virtual Assistant, you can set an hourly rate, if you sell your own product, you can add to your product to raise the price, or step up your marketing efforts to make more sales. As an affiliate marketer, you can create more sites, and drive more traffic to your existing sites. You can also tweak how you present content ads and affiliate products on your site. Both of these practices will result in more affiliate sales and thus more income for you.
The downsides of owning your own business are that it takes some time to get things started and that it takes a fair amount of discipline to keep going. There is no boss setting deadlines or making your schedule. You are the one that decides what needs to be done and then takes care of it, or finds someone else to outsource it to.
Getting the business started takes a lot of time and effort without much payoff to begin with. It can be discouraging at times. But with some determination and a willingness to learn, you can create a nice income working from home, and keep growing it, preferably by working less.
SO WHICH OPTION IS RIGHT FOR ME?
Now that you have a basic understanding of the two and how telecommuting is different from running your own business, it is up to you to decide which one you would like to pursue. If making money right away and being able to count on a paycheck each week are important to you, give telecommuting a try.
On the other hand if you are a self-motivated individual, enjoy the freedom to decide when and how much you will work in any given week and don't mind the ups and downs in cash flow that come with owning your own business, go for it. Take your pick and give it a try. The most important thing is that you get started with something to allow you to stay home and enjoy your time with your loving family.
_______________________________________________
Article written by Nell Taliercio of Telecommuting Moms
Telecommuters work for one or more companies that offer telecommuting jobs. The most common jobs are outbound and inbound phone calls. These are usually sales or customer service calls. There are also quite a few data entry positions available. Competition for telecommuting jobs is fierce. It may take a little while to find your first job, but once you get a foot in the door, and have some experience in the industry to add to your resume it will get easier to get other positions.
Telecommuters know how many hours per week they are going to work and as well as what time they work. For example, a telecommuter may work from 7 to 11 am Monday through Friday. The big advantage of working as a telecommuter is that you get a paycheck each week, or every other week that you can count on. You know exactly how much money you will have coming in and can budget accordingly.
Even though it is referred to as a telecommuting job, telecommuters are usually independent contractors who are responsible for their own taxes, and don’t enjoy any of the benefits like insurance, paid vacation and a 401K plan that traditional employees receive.
The disadvantages are that you can only work as many hours as the company has work for you, and the company decides how much to pay you. This obviously limits you in the amount of money you can earn as a telecommuter. Yes, you can sign up with several telecommuting companies to get more hours, but in the end, the day only has 24 hours and you are limited in how much you can work in a given week.
WHAT IS OWNING YOUR OWN BUSINESS
Owning your own business gives you a lot of flexibility. You decide what your online business is going to be about. The only limiting factor is whether or not it is profitable. You also make your own hours and decide how much you want to earn.
If you have a service based business, like working as a Virtual Assistant, you can set an hourly rate, if you sell your own product, you can add to your product to raise the price, or step up your marketing efforts to make more sales. As an affiliate marketer, you can create more sites, and drive more traffic to your existing sites. You can also tweak how you present content ads and affiliate products on your site. Both of these practices will result in more affiliate sales and thus more income for you.
The downsides of owning your own business are that it takes some time to get things started and that it takes a fair amount of discipline to keep going. There is no boss setting deadlines or making your schedule. You are the one that decides what needs to be done and then takes care of it, or finds someone else to outsource it to.
Getting the business started takes a lot of time and effort without much payoff to begin with. It can be discouraging at times. But with some determination and a willingness to learn, you can create a nice income working from home, and keep growing it, preferably by working less.
SO WHICH OPTION IS RIGHT FOR ME?
Now that you have a basic understanding of the two and how telecommuting is different from running your own business, it is up to you to decide which one you would like to pursue. If making money right away and being able to count on a paycheck each week are important to you, give telecommuting a try.
On the other hand if you are a self-motivated individual, enjoy the freedom to decide when and how much you will work in any given week and don't mind the ups and downs in cash flow that come with owning your own business, go for it. Take your pick and give it a try. The most important thing is that you get started with something to allow you to stay home and enjoy your time with your loving family.
_______________________________________________
Article written by Nell Taliercio of Telecommuting Moms
Home Office Check List
Home Office Check List
Organized Office Essentials
ü Computer w/printer
ü Internet access (iGlide.net if you use dial-up)
ü Separate work email addresses
ü Long distance (flat rate MelaCom)
ü 3 way calling
ü Atomic clock DL (www.worldtimeserver.com or cell phone)
ü Internet fax (CallWave and Efax instructions)
ü Daytimer
ü Files (colored files help stay organized)
ü File organizer for desk
ü Binder
ü Binder dividers w/10 colored tabs
ü Wire basket
ü Highlighters (min 5 different colors)
ü Pens and pencils
ü White out
Optional office supplies / Wish List
ü Head set with mute control
ü Separate computer line
ü Fax machine
ü Several phone lines
ü Pictures, signs, goals and WHY (you are working from home, why you are starting your biz
Info on Pyramid Schemes, Chain Letters and Ponzi Schemes
A pyramid scheme is a fraudulent system of making money which requires an endless stream of recruits for success. Recruits (a) give money to recruiters and (b) enlist fresh recruits to give them money.
A pyramid scheme is called a pyramid scheme because of the shape of a pyramid: a three dimensional triangle. If a pyramid were started by a human being at the top with just 10 people beneath him, and 100 beneath them, and 1000 beneath them, etc., the pyramid would involve everyone on earth in just ten layers of people with one con man on top. The human pyramid would be about 60 feet high and the bottom layer would have more than 4.5 billion people!
A diagram might help see this:
1101001,00010,000100,0001,000,00010,000,000100,000,0001,000,000,00010,000,000,000 Thus, in very short order, 10 recruiting 10 and so on would reach 10 billion, well in excess of the earth's population. If the entire population of earth were 5 billion and we all got involved in a pyramid scheme, the bottom layer would consist of about 90 percent of the planet, i.e., about 4.5 billion people. Thus, for 500 million people to be WINNERS, 4.5 billion must be LOSERS.
In a straightforward pyramid scheme, a recruit is asked to give a sum of money, say $100, to a recruiter. The new recruit then enlists, say, 10 more recruits, to give up $100 each. In the simplest example, the recruiter keeps all the money he gets from his recruits. In our example, each recruit gives up $100 in exchange for $900 ($100 from each of his 10 recruits minus the $100 he gave his own recruiter). In order for no one to lose money, the recruiting must go on forever. On a planet with a limited number of people, even if the planet is as large as Earth and has almost 6 billion potential recruits, one runs out of new recruits rather quickly.
Thus, the result of all these schemes is inevitable: at best, a few people walk away with a lot of money, while most recruits lose whatever money they put into the scheme. In fact, the only way anybody can make money through a pyramid scheme or chain letter is if other people are defrauded into giving money upon a promise of getting something in return when it will be impossible for them to get anything at all in return. That is to say, in plain English, these schemes always constitute fraud. They use deception to get money. That is why they are illegal. They are not illegal because they involve recruiting people to recruit other people to recruit other people. That is perfectly legal and is done to some degree in many legitimate businesses. They are not illegal because they involve giving money to people. It is perfectly legal to give money to people. They are illegal because they involve deceiving people in order to get money from them: that is the legal meaning of fraud.
In actual fact, however, no pyramid scheme will ever work this way because the scheme will never get the number of recruits we've been speculating about. All pyramid schemes will begin to die when the later recruits don't sign on in numbers large enough to pay off the earlier recruits.There will always be enough people who will smell the scheme out. There will always be too many people who will say "if it sounds too good to be true that's probably because it is." There may even be a good number of people who will realize that though one person recruiting ten doesn't sound like much, it quickly adds up to unrealistic and improbable numbers. Also, all it takes is one person to stop the whole thing, either by adamantly persuading recruiters of their indecency, or by reporting them to the police.
greed and wishful thinking
Pyramid schemes are popular because people are greedy and greed can do wonders to a person's thinking. For a person desiring to make a lot of money from a small investment in a short amount of time, wishful thinking often takes over where critical thinking should step in. Wishes become facts. Skeptics become idiots for not getting on board. Desires become reality. Asking questions seems rude and unfriendly. Scam artists know how greed works and all it takes is one con man to get the thing started.
With the odds so stacked against a person, why would one gamble on a pyramid scheme? Greed is only part of the answer. Most pyramid people don't envision themselves anywhere near the bottom layer of the pyramid. Even the most greedy person on the planet would probably see that if one is near the bottom layer of recruits it will be very hard to get new recruits. They have to see themselves near the top in order to envision the immense wealth from minimal effort that is going to come their way.
Furthermore, if I hope to get people involved in a pyramid scheme, the first thing I must do is convince them they are not getting involved in a pyramid scheme. They may know they are illegal. Or they may realize that pyramid schemes are a losing proposition for at least 90 percent of those who get involved. So, I tell them they are joining a club. I give the club a nice name such as The Friendly Investors Club (FIC). I reassure them that the FIC is approved by the IRS and run by a CPA with a Ph.D. who is not an ASS. If I'm really good, my recruits will believe me and the police officers, secretaries, teachers, ministers, etc. whom I recruit. These well-respected, intelligent, honest people will pass on this line to others. If I am really, really good, I will have convinced my recruits not only that they are getting into a legitimate and lucrative Club, but that any earnings are tax-free. I would indicate to recruits that as long as their take in the scheme is less than $10,000, it wouldn't be taxable because gifts aren't taxable until they exceed $10,000. I would convince the recruits that, for legal purposes, they would be giving money away and others would be giving money to them.
even the police like pyramid schemes
In 1995-96, at least 67 employees of the Sacramento Police Department, including 45 officers, were investigated for their alleged involvement in a pyramid scheme (Sacramento Bee 10/28/95, 11/1/95 and 11/15 & 16/96). The scheme was similar to five others that had been operating in southern
The police pyramid schemes are called "investment clubs" and have attractive names such as "The Friendship Investment Club" and "A Gift Network." They're sold to investors with the assurance that they are perfectly legal, approved by the IRS or a CPA, and that they definitely are not a pyramid scheme.
The
The Sacramento Police Pyramid scheme involved what we might call "pyramid pods". An organizer (Numero Uno) would start the pod by getting six others to join as organizers. Presumably, the six would be ranked depending on when they were recruited. The organizers pay nothing to join the pod but together they must recruit enough people into the pod to buy eight spots at the bottom of their pyramid. Each spot costs $500. Numero Uno pockets the $4,000. The pod splits into two pods of seven people (or spots) each, with a new Numero Uno in each pod (and a new number 2, 3, 4, 5, 6 and 7). Each pyramid pod recruits more people at $500 for each of eight spots in the pyramid. The two new Numero Unos take their $4,000 each and the two pods split into 4 pods and those 4 into 16, ad infinitum. To make even more money, some joined more than one pod.
How many in this scheme told the new recruits that 6.7% of those who join will get a 700% return on their investment ($3,500 on a $500 investment) as long as 93.3% get nothing? How many advised their recruits to "get in early"?
To have police involved adds a special dimension to this pyramid scheme because (a) officers have ranks and can use their rank for recruiting leverage over those beneath them; (b) officers and ex-officers have positions of authority and trust which will influence potential recruits, especially young people; and (c) police personnel are supposed to enforce the law; when the law enforcers become lawbreakers and encourage others to break the law for monetary gain, respect for law and law officers diminishes.
chain letters
In the money chain letter, the recruiter sends the new recruits a letter with a list of names on it, including the recruiter's name at the bottom of the list. The recruits are asked to send money to the person whose name is at the top of the list and to add his or her name to the bottom. Money is made solely by getting new recruits to join the chain, adding their names to the list and recruiting others to do the same. In theory, eventually each recruit's name will be at the top of millions of lists and receive millions of dollars. In practice, most people will receive nothing. Anyone can break the chain, thus depriving all those on the list of any possible "earnings." But, even if no one broke the chain, 95% of those who sent money out will get nothing in return.
If pyramid schemes are a bad investment, how about chain letters? The principle is basically the same, except that with chain letters, you don't have to deceive yourself as much as with pyramid schemes. You probably know up front that the scheme depends on duping friends into giving money to strangers in exchange for the promise of riches coming to you later on from other strangers. You get a letter with a list of names on it. You are told to send money to the name at the top, delete that name and add your name to the bottom, and recruit 5 or 10 people to do the same by sending them the letter with your name at the bottom.
Ponzi schemes
A Ponzi scheme, named after Charles Ponzi who defrauded people in the 1920s using the method, involves getting people to invest in something for a guaranteed rate of return and using the money of later investors to pay off the earlier ones. Who will make money from such a scheme? Those who start it and those who get in early. Does anyone really make money from these schemes. They must, or they would have died off long ago. How? If I start the scheme, I just skim off the top and pay off enough people to make it look like it's working, even if that means buying in again at the bottom. I might even be stupid enough to think that I can keep the scheme going when the recruiting has dried up. I can try to get money quickly by some other scheme. For example, I can take a big chunk of money and go to
I don't know how many people lost money "investing" in my Little League buddy's scheme, but it could not have been as bad as what happened in Romania in 1993 or what happened in Albania in 1997.* In both cases, thousands of people with little opportunity for investment of capital were swindled by pyramid scheme operators.
7 Time Management Skills
7 time management skills:
- Structure
- Schedule
- Goal setting
- Plan of action
- Prioritizing
- Decision-making
- Delegating
Structure
Keep the BUSINESS in your home business or home job by setting up a home office. A separate room for your office is ideal but at the very least a desk is critical. This is where you will keep your business materials organized and set up boundaries to keep it your office space (Nothing says chaos like having a small child with sticky fingers sort through your papers!). Keeping these boundaries will help you separate family and business/job. When you walk into your ‘office’, you will be better prepared to get down to business.
Scheduling
Schedules need to be done weekly. Schedule in the time do a weekly schedule every Sunday. Take 5 different color highlighters, your goal sheet and Plan of Action (POA) and then schedule family time and business time. Scheduling is critical to business/job success. You must work when you have scheduled in time to work your business or when you're scheduled to work. If it isn’t on your schedule, DON’T DO IT. Remember, scheduling = success!
Goal setting
Goal setting allows you to choose where you are going in your business/ your plans for moving up on your job. By knowing precisely what you want to achieve, you know what you have to concentrate on and improve upon. Goal setting gives you long-term vision and short-term motivation. By setting clearly defined goals, you can measure and take pride in the achievement of these goals. You can see forward progress in what might previously have seemed a long pointless grind. By setting goals and achieving them, you are able to see what you have done and what you are capable of. This will give you the confidence and self-belief that you need to achieve higher and more difficult goals.
Plan of Action
This goes hand in hand with goal setting. You’ve set your goals, now you need a business plan to help you reach them. Just like a road map gets you from
Prioritizing
You have to make choices in your business/ or on your job. What is important to you in your business/job and your personal life? Are you willing to sacrifice in the short-term to reach the long-term goals? What is truly important? Remember quality time is what counts both personally and professionally.
Decision making
Every day we make decisions. We choose whether we are going to sleep in and not make all of our dials, we choose to let our children watch TV or do their homework, we choose to be successful or not. Make some decisions for yourself. Decide what your goals are, what your plan of action will be to reach each of those goals and DECIDE that you will follow your plan through the end of the month.
Delegating
This is key when dealing with your family. When setting your priorities you may have to sacrifice some of your old priorities by allowing your family to take on responsibilities. Perhaps you are someone who loves a spotless house but you need that same time to work your business. Instead of an all or nothing attitude, you choose the 2 most important rooms in your house, schedule in 2 hours to clean them spotless each week and then delegate the rest of the chores to your family. Realize they will not do them exactly like you would, but they are involved and are helping you reach your goals by alleviating your time to work your business. Make sure you reward your family for helping out.
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