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September 2008 Newsletter

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Happy Anniversary to all of you!  We just celebrated one year since I launched this newsletter last August! 


Thanks to all of you who gave your heartfelt comments about how to improve upon this newsletter.  I heard you and took your suggestions to heart and implemented those suggestions.  Thanks also to those who loved it just the way it was.  I think you'll enjoy the "less is more" approach also.  Watch for some legal tips mixed in with the business articles in future issues.  The articles will be shorter, but I promise to keep the overall newsletter "content rich".  I'll continue to send one newsletter per month and one legal services overview per month featuring a different area of law each issue.  Your book reviews, articles, quotes, and topic ideas are always welcome, so keep them coming!   


This month our experts offer you

helpful tips on business financing, and overcoming other hurdles in your life and in your business.    




Wishing you all the best,



Lori Williams, President

Lori T. Williams PC

Your Legal Resource




"We Connect the Right Client

With the Right Professional " (SM)





Support Michigan and our local community by attending or Advertising at the "Celebrate Michigan Expo"™ on September 29, 2008.


MichiganMall.com reports that "the response to this "Michigan Positive" initiative has been extraordinary and is generating a lot of enthusiasm." 


The expo is FREE to the general public.  Sponsorships and Exhibit tables may be found on this link: Click here.  You may also purchase dinner tickets through that link.


Don't miss this opportunity to showcase your business during the FREE expo, network with other successful Michigan businesses, and hear from recognized speakers during the dinner program.  For more information, contact Jan or Marshall Rice owners of MichiganMall.com at this Toll free number:  1.888.315.1928.

In This Issue

Article 1: Finance Your Way To Business Success

Article 2: Falling Down Isn't The Problem; It's How You Get Up That Counts!


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"You are never really playing an opponent. You are playing yourself, your own highest standards, and when you reach your limits, that is real joy."

Arthur Ashe (1943-1993)
Professional tennis player






"Lori is very passionate about what she does and how she changes people's lives.  She is a shining example of what business professionals everywhere should strive to be, hard-working, loyal, and full of integrity."  


Adam Schwind,
Financial Representative
(The Wilshire Financial Group) 


Finance Your Way To Business Success 

                By: Sue Berke, Principal of Star Financial Resources


Sue Berke PhotoWe've all heard the headlines - Michigan is facing a tough economy.  It is getting harder to obtain credit and financing.  Businesses are struggling.  So, what can a business do to maximize its chances for raising capital?  Below are some tips to help increase the chances of obtaining the financing you need - in any economy.
1.  Plan early
If you wait until you really need funding, it may be too late.  This is where your crystal ball will be necessary.  The time to seek financing is when the business is growing and appears strong - even if you don't have a need for financing at that time.  Lending institutions like to work with strong, growing businesses; it gives them reassurance that the money they lend will be repaid.
2.  Use Your Assets Wisely
Don't exhaust your own resources before finding financing.  Even though there is a cost to financing, it is far less costly to have financing than to exhaust all your own resources and not be able to qualify for the financing you seek to keep your business going.  Lending institutions like to know that you have assets and other collateral.  It is much more difficult to obtain financing if the institution sees that you are down to your last dime.  It is better to have your assets available to pledge as collateral for a loan than to liquidate all your assets to help finance your business.
3.  Manage your finances
Pay your bills on time.  That can even save you money, if you use early pay discounts offered by your suppliers.  More importantly, you have a more accurate and balanced cash flow, which is one sign of a healthy company.  Make sure that your personal credit is as strong as possible.  If you have challenged credit, learn how you can improve it.  Both corporate and personal finances will be reviewed for small business financing, and for larger businesses that are privately held.
4.  Be Open to Alternatives
We are fortunate to have many fine banks in our community, and while a bank is a bank is a bank, they all have their own parameters and qualification requirements - and the type of business opportunities they seek will vary from financial institution to financial institution, and can change over time.  However, if you approach three banks, and none will offer financing, know that there may be other avenues to pursue.  There are finance companies that will consider financing your receivables, your equipment, your commercial real estate, and other assets.  Each situation is different, and not all finance companies are looking for the same type of business, so it is best to work with someone who is familiar with the marketplace and can advise you accordingly.
Consider your financing institutions as a part of your financial advisory board.  They are as interested in your success as you are, so keep them apprised of any material changes in the company.  By maintaining a close relationship with your finance partners, they will often provide innovative solutions to business challenges that may not have been considered by company management.
Sue Berke, a Principal of Star Financial Resources, has spent over 20 years in management and sales positions within the Financial Services industry, with additional experience in retail and consulting positions.  Star Financial Resources began in 2003, allowing Sue to parlay the collective expertise she has accumulated to help businesses of all sizes with their financing challenges.
The products represented by Star Financial Resources are alternatives to traditional bank financing for situations when bank financing is inappropriate or unavailable.  The firm specializes in financing for commercial real estate, equipment, and working capital, and takes a consultative approach to solving financing objectives. For more information, visit the website at:
www.starfinancialresources.com, or call the office at 248-203-7007.



Falling Down Isn't The Problem; It's How You Get Up That Counts!  
By:   Joyce Weiss, Employee Performance and Group Dynamics Specialist


Joyce Weiss PhotoLife is fraught with uncertainty. No matter how hard we try to avoid the potholes, there's always another obstacle looming on the horizon.
How we recover from our personal and professional mistakes makes all the difference in the world. My latest book, Take the Ride of Your Life!, has some useful tools for making that graceful recovery.
1. Look at those old patterns

The obvious mistakes are easy to correct, it's what we don't see that causes the most damage. Have you ever noticed certain situations keep popping up?  And some problems just get worse? 
Start observing your rituals.  This will help you decide which patterns are working and which ones are keeping you down.
2. Get some positive feedback
The most valuable and underused tool we have is input from our true friends. Who else can you trust when you're stuck in a rut?
It's difficult to recognize our own shortcomings, but a trustworthy friend can gently introduce areas for improvement.  Open yourself to hearing what they have to say, and drop the defense mechanisms!
With your eyes newly opened, look for new ways of dealing with habitual mistakes, write down an action plan, and see how it works. 
3. Forgive yourself
Our inner voices can be merciless!  Forgive yourself. Quit carrying the guilt and shame around like a heavy suitcase.  Torturing yourself with past failures helps you achieve nothing!
Blame is another reason we don't always get over our mistakes. We blame others for our mistakes, thinking this will shrink our guilt.
Once you get beyond guilt and blame, you can start enjoying the ride. 



Joyce Weiss is a world renowned certified speaking professional and facilitator on employee performance and group dynamics. She's captivated countless listeners on radio talk shows, motivated more than 50,000 people in over 500 businesses, and written for hundreds of publications.  She's the author of Full Speed Ahead and Take the Ride of Your Life! Visit www.JoyceWeiss.com for professional growth tools and free reports on be direct with respect®, team synergy, and work/life balance. 



                                           Contact Attorney Lori Williams For A


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Includes a referral to an attorney specialist qualified to assist you with your personal or business legal matters. 




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