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Day: June 28, 2016

The Pros and Cons – Small Business Review of 5Linx

Why Read This 5Linx Review?

I don’t work for this company, nor am I a distributor. I’m an Internet entrepreneur and a business expert from the school of hard knocks as well as a traditional MBA. I have over 2 decades entrepreneurial experience in various businesses, primarily start-ups and am writing this so you can make your own decision about 5Linx as a business opportunity.

5Linx provides technology through a traditional Network Marketing business model. I see a huge opportunity for distributors in this company and will tell you exactly why at the end of this review.

Time and money is required for any new business. A lot of each. Network Marketing is different in that the costs to begin are typically less than other options. Never the less, you’ll need a mindset for success and the ability to really focus and get things done on your own.

The company offers an excellent plan for compensation and has a good, solid management team. I believe there are opportunities here to make a decent income if you understand how to market this company utilizing new technologies and marketing systems.

Read below for specific details.

Explanation of the Review

Reputation

I really found no complaints about this company. I did find a handful of ex distributors that had switched to another company but all were professionally handled.

Looking online at the FTC (Federal Trade Commission) site revealed no outstanding complaints, either. The Better Business Bureau (BBB) in Rochester, NY, showed dozens of complaints, all resolved. No government action or ad infringements currently existed against the company.

Years In Business

According to the BBB, the company has been in business since January, 2001. A safer bet is a company that has been around for several years since most companies will fail within the first 12 months.

5Linx Review: Management

This company has an impressive management team with expertise in the appropriate areas of technology as well as network marketing. Personally, I prefer a management team founded in sales. Companies lacking sales aren’t in business for long. This business meets the sales criteria.

Craig Jerabeck, CEO and President has been with the company since 2001. Mr. Jerabeck has a vast background in cellular retail sales and management prior to his entrepreneurial experience.

Jeb Tyler, Executive Vice President – Marketing, holds a degree in Business Administration focused on Marketing but the corporate website says very little about his experience elsewhere. Mr. Jerabeck’s experience probably compliments Jeb’s.

Jason Guck is the Executive Vice President of Sales and has many years experience directly associated to Network Marketing which is a good tie in for the corporate team considering their business model. Mr. Guck has had considerable success building sales organizations prior to his experience here.

5Linx Review: Financial Stability

At the time of this writing, the company is privately held and listed on INC 500 as one of the fastest growing companies in the country. Not a bad sign. The company has experienced over 800{4917788a0bd7aa7369c2a945027b4fe6c9853cda4150a24fe1255b18ce3083dc} growth …

6 Primary Causes For Import Export Business Failures

If you want to open up your potential earnings market and live the life you have always dreamed of, then starting your own import export business may be the answer. However, most businesses fail in the first year, and this field is no exception. There are many factors at play which lead to failure. Of the most common, all are linked through good old-fashioned laziness. Not having a head for smart business on your shoulders will lead you down some pretty unsavory paths and ensure the failure of your company. But just what paths guarantee your derailing?

Committing to an unproven product. Before you commit to things such as pricing and inventory, you better make certain that there is a market where you are for that product. If exporting, you want to make sure that the target area understands the product, and above all, that your over and under is financially favorable. Too many people grow eager with the possibilities and venture out into untested waters without any of the essential legwork.

Not engaging in reputable payment transactions. Online payment transactions such as those overseen by PayPal are very useful in protecting you from the dangers of fraud, but you’d best be prepared to give up a significant portion of your earnings from transaction fees. If you’re serious about running your business, it is far better to initiate and conduct the process through a financial institution via letters of credit. This ensures that the product purchased is the product preferred, and it also makes sure payment is received and valid before final delivery can be made.

Refusing to research a potential business partner before working with them. Over eagerness kills the small business person every day. The Internet has made it easier to reach a global market, but don’t let that give you unrealistic ideals. Make sure you can verify the legitimacy of your partner before you agree to transfer funds or product.

Failing to investigate the area where the export import transaction will occur. There may not be a need for the product, no matter how good it is. There may also be risk factors at play such as unusually high tariffs initiated by that country’s government, which eat into or deplete your profit margins altogether.

Not meeting all the government standards and regulations for transferring materials over borders and through customs. It is not uncommon for materials to be confiscated and for your company to bear the brunt of the financial and legal ramifications. Keep this in mind before you agree to trade.

Tax failures. Just because you are receiving monies from overseas, that does not get you off the hook for domestic taxes. Factor this in when determining a product and price, and avoid the unpleasant surprises that come with ignorance.…

The Importance of the Legal Aspects of Business Correspondence

The writing of business letters calls for two classes of skills. First, we need to know how to lay out a business letter in acceptance form, and be thoroughly familiar with it, so that in practically every letter we write we use the standard layout. There will always be the odd letter that for some reason is non-standard, but in general we should write naturally in the well-tried, standard way, so that our correspondents will feet at ease with the letter when it arrives. The other skill is the ability to write in good English, with the letter’s subject matter falling into clear paragraphs, each of which is written in lucid sentences. The ability to write in sentences, both simple sentences and more complex sentences, ensures that each part of the letter expresses a complete thought, or a group o related thoughts. This enables our correspondent to follow the points we are making, in logical steps, and to arrive at the end of the letter with a clear understanding of our point of view on the matter, or matters, that we have raised.

These two aspects require a great deal of explanation, and we shall learn the skills best if we understand the reasons behind the various practices that have been adopted over the years. We will therefore start by considering the legal aspects of business correspondence.

The legal aspects of business correspondence

Almost all business activity is contractual in nature. This means that the two people engaged in any particular transaction are undertaking certain obligations to one another and at the same time acquiring certain rights. Thus the furniture manufacturer who agrees to supply some of his/her products to a wholesaler is entering into a transaction by which he/she accepts an obligation to supply the goods specified in return for a right to receive a monetary payment called ‘the price’. Where a service is to be supplied, the arrangement is just the same. For example, a security company agrees to protect premises with its security guards and specialist devices, in return for an agreed contractual fee.

Should any dispute arise, it can be settled by going to court, with the aggrieved party suing the other party. To sue someone is to summon them to court, to show why you should not have the justice you are seeking. The judge will look at correspondence that has passed between you (including any document such as contracts, invoices, memos, etc.) and will pronounce judgment in the matter. It is the legal nature of correspondence that requires setting out the correspondence in a standard form of layout. The chief points are:

1) The names and addresses of both parties to the contract must be stated on all correspondence.

2) All correspondence must be clearly dated.

3) To assist in tracing correspondence, it is usual to give references at the top of the letter.

4) To make the subject matter of the letter clear, it is usual to give a subject heading at the …

Why Miscommunication Creates Personal Conflict

If you were to ask me to pick one factor that was responsible for conflict–I’d have to choose miscommunication, hands-down, as the primary factor. Why? Because miscommunication opens up the triangle of other factors that inevitably leads to conflict.

Let us discuss this miscommunication conflict triangle. Picture a triangle with miscommunication taking one side, fear taking another, and assumption taking the third side.

Miscommunication

How does miscommunication happen? It happens when one side doesn’t communicate enough information to us, or we misinterpret the real meaning of their words. In either case, we get a different meaning of their words than they intended. With the advent of e-mail and IM chat, this is a becoming a common problem now-a-days because type-based communication is asynchronous communication, meaning that people do not communicate in real time–its essentially a telegram. Asynchronous communication does not allow for immediate feedback response, so our minds have to interpret what the other person is saying based upon their typed words alone. Although most common in typed-based communication, miscommunication can also occur in any type of communication setting. Another common type of miscommunication is no communication or a lack of communication.

Fear

People always fear the worst outcome. In miscommunication, the mind will fill in the missing information with their own creative insight, which is often fear-based. Think of the husband who is out late and forgets to call his wife. Because there is a lack of communication there, she begins to worry and her mind immediately switches to fear mode. Self-talk occurs and it takes the form of her own fears. Did something happen to him? Is he cheating on me? Our minds will always think of the worst possible outcomes based on our fears and insecurities.

Assumption Believed As Truth

Our minds need logical explanations to events. One of our most basic needs is the need to have answers and the need for reasons and explanations. Absent those needs, our minds switch to a fear-based mode where we have to satisfy our need for answers with that of assumption. Assumption is a derivative of fear because we always assume the worst based on our fears and insecurities. Assumption therefore fulfills our need for a logical explanation for the unexplainable event and we tend to become locked into that assumption, believing it as truth. The wife, who might be insecure about their relationship, might remember the time when she caught her husband flirting with the secretary, and her fears will drive her to make the assumption that her husband must have gone out to meet her.

What To Do?

When we are faced with miscommunication, we must keep our minds open to additional possibilities without adopting a certain truth about the other person until we know exactly from them what they are thinking. How can this be accomplished? Well, your fears and assumptions will automatically kick in. There is no way to fend against that because that is how our minds are wired. Instead of adopting those assumptions …