===========================================================
Business proposal guides, joint venture contracts, non-disclosure agreements, more.
Get the details here.
===========================================================

Table of Contents

1. Editor's Musings
2. How Much Risk is Necessary to Grow Your Business? By Vishal P. Rao
3. Recommended
4. Internet Sites Reviewed
5. Freebies and Other Good Deals
6. Joke of the Week

1. Editor's Musings

Excuse my rant, but I am ten degrees beyond irritated at the dozens of inappropriate articles I receive daily. This is a business newsletter, and I publish business articles. I do not publish articles about Botox, wedding planning, visiting the Yukon, motorcycle mechanics or any of the other unrelated topics that clutter my inbox.

Yet, these articles come. And come. And come.

I'm guessing that the "writers" have all purchased the same software application - a product that harvests publishers' email addresses, spits out a greeting and introduction for the article, and builds a web site containing little more than links to other web sites. I've reached this conclusion because the introductory paragraphs are "cookie cutter" in content, and because the resource box always leads to these peculiar directory web sites, also "cookie cutter" in design.

I'm at a loss to understand how anyone thinks the road to success is paved with sp**ming publishers with off-topic articles, or of publishing one of these (as far as I can see) useless directory sites.

Okay, rant over.

2.Article: How Much Risk is Necessary to Grow Your Business? By Vishal P. Rao

Business owners are responsible for their own financial survival and the financial survival of their employees. Many business owners tend to be "risk takers", who don't readily "go with the flow". They are inventive and confident, necessary traits for business owners.

However, the ability to live with risk is a personal issue. Some business owners are better able to manage risk than others.

The ability to manage risk is imperative for a successful business venture. Therefore, business owners must judge how much risk is "acceptable" and which business ventures are "too risky" and possibly harmful to the business operations.

While change is necessary for business survival, a modifum of risk accompanies every decision to expand the business's offerings. Most businesses face risks when they incorporate new offerings, take on new employees, when they change their marketing techniques significantly, or when they expand into new areas of business.

"Risk containment" is an important aspect of each new project, venture or offering. It is never possible to eliminate all risks. However, containing risks to an acceptable level minimizes the impact on business operations should the new venture fail.

Business owners use the following questions to assess the risk:

1. Is this risk necessary for the further development of the business? If so, why?

2. Is this risk attainable for the business? If so, why?

3. Is this risk affordable for the business? If not, then it shouldn't be done. A realistic assessment of available funds and a budget should be developed before a business embarks on any type of expansion.

4. Is the "timing" right for the new addition or venture? If a business is experiencing a downward cycle or other financially stressful barriers, expansions or additions are usually best left for another time in the business cycle.

Many business owners make one of two serious mistakes. They either refuse to gamble at all, therefore limiting their business' growth, or they gamble too much, exposing their business to such risk that financial difficulties follow.

Example A: John has owned a print shop for several decades, enjoying much success. John, however, is risk aversive. He avoids investing in updated technologies that could increase his clientele and the speed at which he delivers his goods to existing clients. Consequently, he has lost existing clients and failed to attract new ones. His bottom line suffers.

Example B: Miriam owns a successful real estate company that employs ten people. Feeling the need for new challenges, Miriam borrows "against" her existing business and purchases several expensive investment properties. She goes even deeper in debt to renovate the properties. Finally, it becomes a struggle to hold on to the original business, as she now owes large debts to various creditors.

As you can see, John, is much too risk aversive, while Miriam failed consider the many difficulties that could occur with large-scale expansion. Neither is correct in their approach to risk management and each has hurt their business as a result.

The old adage, "Slow but steady, wins the race" applies significantly to appropriate risk management within a business. Business owners should plan and weigh their risks before proceeding with any new venture. However, businesses also need "planned growth" throughout given periods.

Business owners must use judge wisely when considering risk management techniques.

3. Product Recommendation: *** Monaco EzColor/Optix XR Calibration System ***

I saw this demonstrated over the weekend and I was impressed. This award winning product isn't an impulse purchase - but if you do much printing or scanning from your computer, you'll love what it does for your images.

The Monaco EzColor (combo hardware and software) calibrates your colors so the images you see on your monitor are exactly what you will see when you print your photograph or image. It's goodbye to disappointments and expensive waste of paper and inks when what you see isn't what you get. The scanner can be entered into the mix also - so you get the exact same color match from scanner, printer and monitor. I print many of my own digital photographs. This item is on my wish list. It's amazing.

Take a look at it here:
Monaco EzColor/Optix XR Calibration System

4. Internet Sites -- reviewed by June Campbell

*** Small Business Computing
Excellent resource site re small business and technology.

*** Even Kazaa's Employees Won't Use It
News article reporting that the company's employees are too smart to use the software on their own computer. Just like you and me.

*** Use the Hosts File to Assist Privacy
A Kim Komando article on another way to defeat spyware on your machine.

*** Superbowl Commercials
In case you missed the real thing, here they are again.

5. Freebies and Good Deals

a. Receive 250 Business Cards, Absolutely FREE! You pay only shipping and handling.Visit this link for additional information.

b. Get Free Practical Online Business Tips and Ideas, Internet Marketing Strategies that works and Online Success Guides delivered right to your hand. Power up your Online Business now: IntendedForSuccess.com

6. Joke of the Week: Lobster Catch

Three weeks after fishing season closed, a Fisheries Officer accosted a man carrying two live lobsters down the wharf.

Anxious to avoid a fine, the lobster guy said, "Officer, these are two trained lobsters that I caught weeks before the season ended."

The Fisheries Officer says, "Trained how?"

"Each day I take these lobsters down to the wharf for a swim. After 15 minutes, I whistle for them and they return to me."

Disbelieving, the Fisheries officer asked to be shown the trick. He accompanies the lobster guy to the wharf and watches as the man lowers the lobsters in the water. The lobsters swim away.

After 15 minutes, the officer asks the guy to whistle for his lobsters.

"What lobsters?" asks the lobster guy.

To subscribe to this newsletter, visit this link.

"How to Booklets"-- topics include business proposal writing, business plan writing, brochure writing,an independent contractor's agreement, a sample joint venture agreement and more. Click www.nightcats.com