5 Considerations Before Starting a Business

For many, starting a business is the professional dream of a lifetime. While thousands of businesses are launched every day, history shows a pretty high failure rate. Yet, despite the odds, the vast majority of business owners would rather risk potential failure than never take the leap, based on what I heard on my virtual small business listening "tour" across the country.
As part of this tour, I spoke with veteran serial entrepreneurs as well as those in the early stages of launching a business, from a cross-section of industries and geographies and driven by different motivations. From those conversations, I distilled the following five considerations to help you position your new business on firmer financial footing.

1. Bolster your financial health. You may have the personal wherewithal to start a business, but can you afford to make the transition given your level of debt as well as savings? Set a threshold for the minimum amount of money in the bank that you are not willing to go below. This number will be different for each person, but the important thing to take away is that you think about what this number means to you and save it in advance. It's important to build up and maintain this "healthy" reserve or cushion to allow you to manage the lean months or the periods of uncertain cash flow. If you find that you are approaching your "bottom-line" number, this is where discipline must override passion. Step back, take a hard look at your situation, and see what's working and what's not.

2. Get over the "fear factor." Change is frightening for most of us. It's only natural and appropriate to worry about the possibility of failure, jeopardizing your financial security, or reneging on your obligations to others. But sometimes we get so caught up in what we stand to lose that we forget to consider all that we stand to gain. And, we forget that we are driving the timetable and parameters for making this change.

3. Keep your personal and business wallets separate. The old adage that business and pleasure don't mix also holds true when it comes to your business' finances. Set up separate accounts for your business, and consult with a knowledgeable tax professional to understand what costs are deductible. If you start recording and keeping receipts of deductible expenses from the beginning, it can help avoid major problems in the future, such as liability for additional taxes or penalties. And, don't stop talking to a financial professional throughout the process of building your new business as it can help you feel more confident that you are managing your personal finances wisely while you begin your business.

4. Work on your business, not just in your business. When you are surrounded by your own business day in and day out, it's important to take a step back and make sure you are handling all aspects of the business. Sometimes entrepreneurs are so focused on their product or service, that they may overlook their business' finances. But it's important to handle your business finances with intent. That is, handling your finances in an organized -- not haphazard -- way.

5. Remember that not all money is created equal. You need to know when and how to raise capital, (both equity and debt), and how to wisely put your money to work on things that adds value. You should be spending as much time researching what investors and lenders want as you spend understanding what your customers want. Understand the approach that angel investors take versus mezzanine debt investors. The more you know, the better positioned you will be to tap the capital markets and make the appropriate asks. Money is a tool. Make sure you understand how to use it.

RHAPSODY OF REALITIES PASTOR CHRIS THE DILIGENT BEARS RULE. MONDAY, FEBRUARY 2ND, 2015.

The hand of the diligent shall bear rule: but the slothful shall be under tribute (Proverbs 12:24).
Proverbs 22:29 says, "Seesth thou a man diligent in his business? he shall stand before kings; he shall not stand before mean men." Just as diligence brings you before kings and into honour, slothfulness, on the other hand, leads to poverty and self-imposed servitude.

Proverbs 22:29 tells us that those who are slothful will stand before "mean men"; that phrase actually means "nobodies."
It's puzzling that some people could be described in the scriptures as "nobodies" or obscure and insignificant; people whose words and actions don't count! King Solomon called them vain men, meaning they're empty; their words and actions are worthless.

What they say have no value or impact. Now, remember, the value of your personality reflects in your words. Therefore, if a man's words are vain, and without value, what does that tell you? He's obscure, or irrelevant.

The Lord Jesus said, "But I say unto you, That every idle word that men shall speak, they shall give account thereof in the day of judgment" (Matthew 12:36).
Such people, even though they're of value, devalued themselves by not being diligent. They weren't made nobodies by God, the society, or by other people; they made themselves so.
Be diligent in all you do and pay attention to details. God says the diligent person will never be obscure or insignificant. I'm sure that's what you want in your life.

You want to be able to change things, and bring glory to the Lord Jesus Christ. You want to be excellent, effective and sound in your job, and gloriously fulfil your destiny in Christ! Then be diligent. That's the key! Be a man or woman of dignity, integrity and honour.

CONFESSION:
My words are consistent with my Christ-nature and therefore have value! Now and always, I speak the words of faith. Through my words, I create a victorious and prosperous life, and set myself in a place of dominion, in Jesus' Name. Amen.

OPEN HEAVENS DAILY DEVOTIONAL DATE : Monday 2nd February, 2015

THEME : ARE YOU FRUITFUL?
Memorise :
Every branch in me that beareth not fruit he taketh away: and every branch that beareth fruit, he purgeth it, that it may bring forth more fruit. John 15:2
Read : Luke 13:6-9
6 He spake also this parable; A certain man had a fig tree planted in his vineyard; and he came and sought fruit thereon, and found none.
7 Then said he unto the dresser of his vineyard, Behold, these three years I come seeking fruit on this fig tree, and find none: cut it down; why cumbereth it the ground?
 8 And he answering said unto him, Lord, let it alone this year also, till I shall dig about it, and dung it:
9 And if it bear fruit, well: and if not, then after that thou shalt cut it down.

BIBLE IN ONE YEAR : JEREMIAH 24-25 and ACTS 19:21-41
Message
The word "Be fruitful ," appear in the Bible for the first time in Genesis 1:28. Although it came as a commandment, it can also be taken as a blessing. Because it is a commandment, God expects all His creation to comply with it by bearing fruit and multiplying through self-reproduction. On the other hand, if taken as a blessing, then it is established because when He speaks, it is done. His words cannot pass away unfulfilled. In John 15:8, Jesus said that the father is glorified when we bear fruit, and that by bearing much fruit, we demonstrate that we are His disciples indeed. Consequently, God react to fruitlessness the same way He react to rebellion, because failure to bear fruit is rebellion against the commandment and purpose of God.

"And when he saw a fig tree in the way, he came to it, and found nothing thereon, but leaves only, and said unto it, Let no fruit grow on thee henceforward for ever. And presently the fig tree withered away."
Mathew 21:19
The fig tree in today's Bible reading and the parable of the talents in Mathew 25:14-30 both show that God is expectantly looking out for us to bear fruit. They also reveal that God will judge out individual and corporate performance by the quantity and quality of fruit we bear. God is expecting us to bear fruit in the areas of soul wining , Holliness, righteousness , in Love and Also in finance. It is time for a genuine personal assessment for those who are bearing fruits, it is time to bear much fruit. If you discover that you are not bearing fruit as expected. God is giving a second chance . Be sure to make the best use of this second chance by bearing fruit in earnest. I pray that in the Programme of God, you will not be cut down or replaced in the mighty Name of Jesus. You will surely fulfill your destiny in Jesus'Name.

D’banj Reveals He’s Getting Married This Year And Intends To Welcome A Baby Too

Looks like D’banj popularly referred to as Kokomaster is ready to leave the single market and get married. He says this is coming as a result of being pressured by his mother. He said:

‘Yes, I was under pressure towards the end of last year to get married, my mum really wanted it.’

When quizzed by TheNetNG if he was going to obey his mother by- bringing a woman home to his mother this year, he said;

‘Well, I don’t know yet but I know that I am intending to do it this year. More importantly for me, I’ve always wanted to have a child, but last year my brother, Kay Switch had a child and it brought so much joy to me. So this year, I’m thinking of settling down to have my own Koko junior soon.’

Check Out President Jonathan Getting Makeup Done

President of Federal Republic, President Jonathan was spotted or rather captioned as he sits down to get his make up done as he looks to have an interview with Ebony Life TV boss, Mo Abudu.

Some of you may be wondering why, but Dr. Ebele has to look as fresh as possible for his TV interview

Why the rich stay rich: they don’t invest like the rest

Getting and staying rich...

When many of us have a little cash to invest, we might buy a mutual fund or a stock — if we don’t blow it on the latest tech gadget. Not the truly wealthy, however. They often put their money in property, art, businesses and other investments that the rest of us can only dream of owning. How this rarified group uses their cash differentiates them from the rest of us — and keeps them in the black.
Take Joshua Coleman, for example. When his family sold their Chicago-based telecom company for $400m in 2004, they didn’t run out and buy something extravagant. Instead, they began seeking advice on ways to save their newfound riches and help them grow.

Their quest sparked an idea for Coleman, now 27. In 2011, he launched Momentum Advanced Planning — a firm that connects people to tax, legal and wealth experts. If the business one day sells, he could see a big return, just like his family’s first business.
If you think that starting a business is an odd way to invest your money, then you probably aren’t among the ultra-wealthy. People who have at least $30m in assets — dubbed ultra high net-worth — invest in stocks and bonds, but they also grow their money by buying companies and investing in unusual securities, such as airline leasing funds. They also own art and cars that they hope will appreciate in value.

“It’s called alpha risk,” said Coleman. “It’s this kind of stuff where there can be a lot of upside.”
As for the downside, many of these investments are riskier than traditional investments, so there’s a higher chance of losing a large chunk of change. As well, they’re far less liquid than stocks and it could talk months or years for the wealthy to get their money out of an investment.
Even if you don’t have millions to invest, though, you can learn a thing or two about how the rich reap returns and apply it your own portfolios.
 

Rich-only investments? Perhaps...

The wealthy have access to a swath of investments that most people don’t even know exist.
Closed-end funds — a long-term investment where money is typically tied up for at least five years — offer the very rich access to big returns and high yields.

Aircraft leasing is one budding area of investment, said Ian Marsh, CEO of asset management for London-based Fleming Family and Partners, a wealth management firm that was initially created to preserve the fortune of Ian Fleming, the creator of James Bond.
His clients work with a company called Doric, which uses investor money to buy planes which are leased to large airlines, such as Dubai-based Emirates Airlines.

Investors will eventually cash out of the fund when those planes are sold, but they can make a 9% annual yield in the meantime from the leases alone. The average yield on the Standard and Poor’s S&P 500 — America’s main investing benchmark stock basket — is about 3%.
Some closed-end funds require hundreds of thousands of dollars to buy in, but Doric’s airline leasing funds have a more reasonable entry fee, says Marsh. Its SKY CLOUD series of funds — which buy Airbus A380-800s and leases them to Emirates Airlines — have a minimum investment of 10,000 euro ($13,822) and 5% one-time fee that is based on how much investors put in.

Ultra high-net worth investors in the UK and elsewhere are also buying up farmland. As the global population grows, demand for food will also increase and those who own prime agricultural land could see good returns, said Marsh. Arable land is a finite resource —the harder something is to come by the better the return.

According to Marsh, good land can earn a yield of about 4% a year for an investor, plus appreciate in value over time. Few regular investors can afford to invest in a plane fund or buy a plot of rich farmland, but there are some more-accessible closed-end funds that offer a way to invest in global infrastructure, even wine. There are also some publicly listed companies that people can buy on the stock market. For instance, Gladstone Land is a US-listed company that buys farmland.
(Simin Wang/AFP/Getty)
 

Buy more businesses, of course...

It’s a natural for wealthy individuals, many of whom made their money owning companies, to buy into other businesses. Coleman invests in a number of other companies, mostly in the professional services and tech sectors. He has a stake in so many operations that he can’t give an exact number.
“It’s a lot,” he said.

He’s usually investing with a group of investors and a private equity firm, and he’ll invest more than $1 million to get a piece of an operation.
It’s fun to see companies go from nothing to something and many investors have the experience and networks to help get a business off the ground, said David Rose, a New York-based ultra-wealthy entrepreneur and author of Angel Investing: The Gust Guide to Making Money and Having Fun in Startups.

“Imagine investing in Google when they were still in their trailer,” he said. “You can meet the founders on a weekly basis, get a first hand look at what’s happening and see it grow. That can be a lot of fun.”

It can also be lucrative. Though investors put their money at risk — 50% of startup companies go bust, said Rose — a wealthy investor usually makes 20 times to 50 times their initial investment on one or two companies that do succeed.
Rose usually puts between $50,000 and $100,000 in a company, and he said he has made millions off some of his investments.

At the moment, it’s difficult for the average investor to invest directly in a business, unless they hand over some money to a friend or family member, says Rose.
However, a new piece of US legislation, passed in 2012, may allow regular people to invest in startups. It’s not yet clear how this will play out.
(Oli Scarff/Getty Images)
 

Play up pricey passions...

“Passion” investments, such as art, cars, watches, wine and even musical instruments, are big among the rich, said Guy Hudson, executive director and head of business development at London’s Stonehage Investment Partners, a global wealth management firm.

While people want these assets to grow in value, they’re also buying them to either use or look at.
“These investments always arise from the investor’s passion for that particular object,” said Hudson.

For investors who buy the right passion investments — finding something rare is key here — they can see solid returns. According to his company’s research, the value of “investments of passion” rose by nearly 15% in 2013, said Hudson.

There are several ways for regular investors to buy passion investments, says Hudson. A wine fund sold by The Wine Investment Fund requires a minimum 10,000 euro ($13,822) investment, for instance, and there are other funds that focus on art and cars. Take note: some may require the investor to be accredited, so even if the initial fee is low, you may not be able to purchase the fund.

You can also buy art for affordable prices at auction. “Up and coming artists will sell their pieces at reasonable rates,” he said.
(Ben Stansall/AFP/Getty Images)
 Fuelling a hunger for property...
Many high-net-worth people like parking their cash — often seven or eight figures — on pieces of property, said Paul Patterson, deputy chair at Toronto’s RBC Wealth Management.

Some pool their money with others to buy commercial properties; others scoop up high-priced condos in London, New York and other global locales.
Many hope to sell for a handsome profit, but in the meantime, they can live in these abodes when they travel, he said. “They typically buy two or three residences in different places around the world,” he said. “It’s got great long-term value, especially in core markets.”

While the average person likely won’t be able to buy a condo in a posh New York area, they may be able to buy a house in their neighborhood that they can then rent out or sell when the price appreciates.

There are also many public companies that buy commercial and residential real estate — called Real Estate Investment Trusts — that any stock market investor can purchase. While they’ll be sensitive to market ups and downs, the stocks often rise in price as rents and property values climb.

Whitney Houston's daughter in medically induced coma, source says

(CNN)Whitney Houston's daughter Bobbi Kristina Brown was placed in a medically induced coma Saturday after being found facedown and unresponsive in a bathtub full of water, a source close to the family has told CNN legal analyst Sunny Hostin.

Brown, 21, "was not breathing" when a man identified as her husband and a friend found her at about 10:25 a.m. inside her townhouse in Roswell, Georgia, said police in the Atlanta suburb. They called 911 and performed CPR until public safety officers arrived and took over, said police spokeswoman Lisa Holland.

Brown was taken to North Fulton Hospital, where "she is still alive and breathing. Other than that, I don't know her condition," Holland said Saturday afternoon at a press briefing.

Police had been to the residence recently. Somebody reported a fight there January 23, but nobody answered the door and officers found no evidence of an altercation, Holland said.

The police spokeswoman noted one oddity in the case: "Her mother died in the very same manner."

Three years ago, Houston was found dead in a bathtub at the Beverly Hilton on February 11, hours before she was to attend a pre-Grammys bash.

An autopsy later revealed that she'd drowned facedown in "extremely hot water" about 12 inches deep. The Los Angeles County coroner ruled it an accidental drowning with the "effects of atherosclerotic heart disease and cocaine use" as contributing factors.

Brown is her only child.

"She encourages me and inspires me," Houston once said of her daughter. "When I look at her eyes and I see myself, I go, 'OK. I can do this. I can do this.'"

Daughter of acclaimed singer, R&B standout

Brown was born in 1993 during Houston's marriage to R&B singer Bobby Brown, which ended in divorce in 2007.

The daughter of music royalty became a public figure during the mid-2000s reality show "Being Bobby Brown," in which she frequently appeared alongside her parents and often had a front-row seat to their marital fireworks.

Mother and daughter even performed together on national TV in 2009, when the two sang "My Love Is Your Love" in Central Park on ABC's "Good Morning America."

Given the pair's close relationship, it's no surprise that Houston's death was a major blow.

Days after her mother's body was found, a grieving Bobbi Kristina -- then 18 -- was taken to Cedars-Sinai Medical Center because she was "overwhelmed," family friend Kim Burrell said.

"She loves hard," Burrell said then of Bobbi Kristina. "She's going to be OK, and we're going to see to it."

Married a man who was taken in by Houston

Brown appeared on episodes of Lifetime's brief reality show "The Houstons: On Our Own," which followed her life after Houston's death.

One of that reality show's storylines revolved around Brown's relationship with Nick Gordon, who lived with Houston and her daughter from the age of 12.

Months later, Brown reportedly got engaged to Gordon.

And in January 2014, she tweeted out a picture of wedding rings, presumably belonging to her and Gordon, along with the words, #HappilyMarried• SO#Inlove."

 

"(Houston) made me promise several times to look after Krissy ... and, Mom, I will never ever, ever break that promise," Gordon told the entertainment show "Extra" afterward, saying Houston "just treated me like she gave birth to me."

It was unclear whether Gordon came home Saturday morning to find his wife in the bathtub or had been in another part of the house overnight, Holland said.

Police have obtained a search warrant to look through the house, but that's standard procedure, she said.

Concern for Brown surged again after news broke.

Music director Michael Bearden sent along "healing energy to the daughter of a late great friend." Songwriter Diane Warren tweeted, "I hope Bobbi Kristina gets the help she needs."

"Poor thing," Warren wrote. "Almost 3 yrs to the day her mom passed and the same thing almost happened to her."

CNN's Lisa Respers France and Nick Valencia contributed to this report.