Your Legal Resource Newsletter
One thing I've noticed about the Metro Detroit business community,
is that we work hard and we love it! Some of you have admitted
to reading my newsletters at midnight or 6am, others admit to only
getting a few hours of sleep a night when they get really busy with
business. I think most of us run hard all day and use up all the
energy we have, and are "out" the minute we hit the
pillow. Often we go, go, go racing from one business appointment to
the next, and end the day with a networking event or two.
fellow entrepreneur once told me that the great thing about being a
business owner is that we have 24 hours at our disposal and we can decide
how to use it. That was a very freeing statement to me at the time,
and still is today! It was much more liberating than the 9 to 5 law
practice I ran for 14 years and had to try and fit everything in during
that time. My life and schedule is much freer these days,
thankfully! So much so, that the lines often get blurred between
"working" and just enjoying my day. Does a networking
lunch or breakfast count as "work"? What about
the "after 5" Chamber event? Then there's working
out, that can't be "work" , can it? What about
creating these newsletters? I know it is a lot of fun, but does it
also count as "work"?
Another person once said, "when your vocation seems like a vacation,
you're in the right profession." Think about that the next
time you are about to doze off. Ask yourself, "do I love my
life? Am I doing what I really want to do?" If the
answer is yes, then keep on working hard and having fun. Just
remember that balance is important. If you aren't loving what you
are doing, or it doesn't seem to have meaning or purpose, then change
me, every day is about connecting someone in need with someone that
fulfills that need. That could be a client seeking an attorney, an
entrepreneur needing investor capital for their startup business, or a
business owner needing to hire the right team to successfully launch
his/her new business concept. It is truly a privilege to use
my gift of connecting others, and it doesn't feel like work. It
energizes me and gives me a sense of purpose like nothing
else. I wish the same for you in your vocation. If it's
not like that for you, let's talk. I know some great coaches and
other resources who could help you make a change.
to you! Whether you are working hard, or playing hard, give it your
"One machine can do the
work of fifty ordinary men. No machine can do the work of one
extraordinary man." (Editors note: "or woman").Elbert Hubbard (1856 - 1915)
last newsletter article entitled 'What are you Resisting?' really spoke
to me. Her attention to detail and willingness to be "human"
really shines through. I've come to know that I can always trust Lori to
give solid information and follow through on the promises she
makes." Kim Boudreau-Smith, Owner, KBAF, Inc.
doing a great service, Lori, with your networking... am so glad R.O.
Chamber connected me with you!!!" Betsy
"Your friendship and mentoring to me in my new
business is a blessing from God! Also, my mom has met the
attorney you recommended and is very pleased with the service he has
provided. Thank you!" Love,
"It has been a total joy to work with you, become
stronger friends with you, and share the Idea Lab and SWC with you. I am
encouraged by your courage, and the integrity with which you hold
yourself in everything you do."
"Thank you very much for all you did to help my sister.
Her situation has gone from bad to worse and my only comfort at this time
is that she has a very good attorney that she is comfortable with, thanks
to you." Kim
FAVORITE READS OF OUR READERS
(Editor's note: Thank you to all who contributed these
powerful statements about your favorite books.)
1. Raving Fans, by Ken Blanchard
to wowing your clients? Delivering their
+1. According to Drew Sygit,
Certified Mortgage & Equity Planner, with The Lending Edge Team@
Meadowbrook Mortgage, this book is a short
& easy read that effectively communicates this
important customer service concept, plus a few more!
2. Go Giver,
by Bob Burg
Never Eat Alone, Keith Ferrazi
Dana Cadman, President,
Cadman Communications Corp. says this book provides very practical advice for helping
the shy and introverted (and the clueless) learn how giving and asking
can help us (and those around us) achieve our goals.
Your Life Sucks, by Alan Cohen
we featured this book last month, here's another perspective on why it's
a "must read".
Law of Attraction states that what you believe, you can achieve. But what
happens when you aren't attracting what you want? You feel that your
life sucks. But when your life sucks, its a wake up call - an invitation
to do something different. Alan Cohen, author of 17 popular and
inspirational books, and friend and associate of Jack Canfield (author of
The Chicken Soup series and featured in The Secret), shows ten reasons
why you are stuck in a rut in this in-your-face, no-hype guide to
help you turn your life into a "suck-less suck-cess!" Sandra Maurer, CEO of Maurer Enterprises
5. First Break All the Rules, Marcus Buckingham
Good managers make great companies. But, what makes a great
Learn how the best managers in the world leverage the
strengths of others to achieve results that are greater than the sum of
the individual team members. If you get to see Marcus Buckingham live, do
so. The guy has a career in stand-up comedy if he ever quits his day job.
President, Cadman Communications Corp.
6. For ANYONE wanting a career change, feeling stuck
in a rut, or having a seemingly endless case of The Blahs, the following
two books are highly recommended by one of our readers named Betsy:
- How to Expand Your
Personal Control and Take Back Control of Your Life, by
This Time I Dance! Creating the Work You Love,
by Tama Kieves. Am still savoring this one, and it's definitely
going on my list of all-time favorites: an absolute wealth of
from-the-heart warmth, wisdom, encouragement, "for every person who
has yearned to find their true work in the world."
Have You Seen What's New
at the Smart Women's Cafe?
10 Snacks To Keep You Healthy and Avoid S.A.D.
Jennifer Honor, Director of Programming for Revolution Wellness Center
Do cloudy winter days leave you feeling depressed or fatigued,
even when business is booming and family life is wonderful? Do you reach for sugary or salty
snacks, in hopes for more energy?
Disorder" is a common winter-related problem, caused by shift in our
bodies' melatonin cycles and vitamin D levels. Combat the effects of SAD with these
"Ten Best Wintertime Energy-Boosting Snacks":
Egg-white salad with chopped veggies. A healthy protein boost. Prepare once a
week at home, perfect any time of day.
Two organic apples with two Tablespoons of all natural,
Valencia peanut butter.
Home made smoothie with yogurt or rice milk, fruit, frozen
banana chunks (thickens consistency), and ice (increases volume).
Cucumber, yogurt and herb dip with low-fat tortilla chips.
Easy recipes can be found online. Cucumbers are extremely hydrating.
Hummus with celery and carrot sticks. Kids love it too!
Replaces granola bars, usually high in sugars. Are 100% natural, with several
flavors. Available at Whole Foods.
Half of a cantaloupe filled with low-fat cottage cheese,
raisins and walnuts.
Two organic rice cakes with natural fig spread (without
added sugars). Satisfies the sweet
tooth with healthier fructose sugars.
Hollowed green or yellow pepper stuffed with low-fat chicken
Plain seltzer with your added juice of choice replaces
sugary, chemical-filled, dehydrating soda pops!
Here's to your good health! Happy Snacking!
Dr. Jennifer Honor is the
Director of Seminar Programming at Revolution Wellness Center, located in
Shelby Township. Within the
Center, Dr. Christine Kaczmar, Natural Digestive Health Specialist and
Internal Health Specialist, helps people resolve their heartburn,
constipation, diarrhea, ulcers, Crohn's disease, and more. As Director of Seminar Programming, Dr.
Honor organizes digestive health classes within schools, senior centers,
churches, temples and corporations, throughout Macomb and Oakland
counties. Dr. Honor can be reached at 586-685-2222, or at [email protected]. Visit
revolutionwellnesscenter.com for more information.
Lease or Buy, That Is The Question!
David Gaddis, Managing Member of CMG Management Services, LLC.
Lease means to
use, while buy means to own. Which
is the best option for your business?
There is an old
adage often heard in the leasing world: "if it appreciates, buy
it. If it depreciates, lease
it." That basic concept is
too simplistic. If you want to
make the best equipment financing decision possible, you need to consider
1. How is the equipment [computer, truck,
lift] going to be used?
2. What is this equipment going to do for
you or your business? Consider the
return on investment. For example, if new stamping
equipment on the factory floor will allow you to capture $3200 per month
in current out-sourced production cost, then the investment pays for
itself in 12-18 months. Or maybe a
new lathe will generate a savings of $16.50 per hour per week in overtime
after it's installed, cutting costs by more than $4,000 monthly. Perhaps you should acquire three
lathes, or two ovens, etc. The
projected return will be clear once you do the math.
3. Next, consider the
Equipment you install on the plant floor today isn't going to become
more valuable over time as it generates revenue. Equipment wears out. You will make a better acquisition
decision by looking at these factors as your measuring stick:
·Your knowledge of your
·How quickly the
·How to best meet
customer expectations in your competitive environment;
·The rate at which you
deploy equipment. For instance if
you are using the equipment during 2 shifts instead of 1, maintenance
costs will become an issue well before the end of normal depreciable
4. Finally, the equity factor should be
examined. For some businesses,
this is the most important factor.
If you take money out of one bank account and put it in another,
you haven't sacrificed anything.
On the other hand, if you take money out of your bank account and
put it into equipment, your equity takes a hit. Everyone knows that as soon as you
drive your new car off the lot, it's worth about 20% less than it was
before you were given the keys.
All equipment purchases
as opposed to leases are
subject to the same slide in equity.
If you need available cash to buy raw materials for production,
chemicals to process extrusions, ink to print ads, or you need to add
inventory for a seasonal sales spike, using equity for equipment weakens
your financial strength and jeopardizes business sustainability. How will you be able to meet new
customer demands if you can't acquire the cash-based resources necessary
to fill sales orders?
Leasing and buying options help business owners and decision
makers to realize their objectives.
The secret to making the best decision involves assessing the
business benefits, the term of use, and the equity value.
CMG Management Services partners with business owners and
decision makers to help you make the best choices regarding equipment and
business financing issues.
Dave Gaddis is the Managing Member CMG Management Services,
LLC, in Northville, MI, a 4-year old lease brokerage company specializing
in equipment and commercial real estate leasing alternatives for
literally any size business and operating on a national level. His focus is vendor finance
programs. He leverages 30 years of
sales and sales management experience to partner with equipment vendors
who understand the power of developing finance alternatives for their
customers. For more information, contact Dave at 248-924-2078, or visit
his company website at: www.cmg-leasing.com.