Your Legal Resource Newsletter

February, 2008

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3 older people on bench     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.  

 

     A 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 it.    

 

     For 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.    

 

     Here's to you!  Whether you are working hard, or playing hard, give it your all!

 

All my best,

Lori

 

Lori Williams, President

Lori T. Williams PC

Your Legal Resource

248-594-4470

 

 

 

 

 

QUOTABLES: 

 

"I don't want to achieve immortality through my work... I want to achieve it through not dying." Woody Allen

"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)

 

 

Testimonials: 

 

"Lori's 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.

 

"You're 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, DeLynne 

 

 

"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." 

Much love, Linda

 

 

"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

 

 

In This Issue

Article 1: Top 10 Snacks To Keep You Healthy And Avoid S.A.D.

Article 2: To Lease Or Buy, That Is The Question?

 

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FAVORITE READS OF OUR READERS

 

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(Editor's note: Thank you to all who contributed these powerful statements about your favorite books.)

 

 

1.  Raving Fans, by Ken Blanchard

 

The secret to wowing your clients?  Delivering their

expectations . . . 

+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

According to Terry Bean, CNO of Networked, Inc., this book is enjoyable, easy to read, engaging and filled with wonderful knowledge.  Terry highlights a few of the main points: 

 

                             

3.      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.

4.   Why Your Life Sucks, by Alan Cohen

 

Although we featured this book last month, here's another perspective on why it's a "must read". 

 

The 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 manager?

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. Dana Cadman, 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:

 

 Affirmations - How to Expand Your Personal Control and Take Back Control of Your Life, by Stuart Wilde 

 

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."  

 

 

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Have You Seen What's New at the Smart Women's Cafe?

 

Top 10 Snacks To Keep You Healthy and Avoid S.A.D. 

 

By:  Dr. Jennifer Honor, Director of Programming for Revolution Wellness Center

3 older people on benchDo 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?

 

"Seasonal Affective 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":   

 

10.  

Egg-white salad with chopped veggies.  A healthy protein boost. Prepare once a week at home, perfect any time of day.

 

9. 

Two organic apples with two Tablespoons of all natural, Valencia peanut butter.

 

8.  

Home made smoothie with yogurt or rice milk, fruit, frozen banana chunks (thickens consistency), and ice (increases volume). 

 

7. 

Cucumber, yogurt and herb dip with low-fat tortilla chips. Easy recipes can be found online. Cucumbers are extremely hydrating.

 

6.  

Hummus with celery and carrot sticks.  Kids love it too!

 

5.  

A "Larabar".  Replaces granola bars, usually high in sugars.  Are 100% natural, with several flavors.  Available at Whole Foods.

 

4.  

Half of a cantaloupe filled with low-fat cottage cheese, raisins and walnuts.

 

3.  

Two organic rice cakes with natural fig spread (without added sugars).  Satisfies the sweet tooth with healthier fructose sugars.

 

2.  

Hollowed green or yellow pepper stuffed with low-fat chicken salad.

 

1.

 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.

 

To Lease or Buy, That Is The Question!

By: David Gaddis, Managing Member of CMG Management Services, LLC.

 Dave Gaddis Photo                             

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 these factors: 

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 appreciation/depreciation factor.  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 industry;

·How quickly the technology changes;

·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 life.   

 

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.

 

 

 

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