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Tax Tips for EBay Sellers - Turning Personal Expenses into Business Expenses

by Chris Malta & Robin Cowie

Few people realize that starting a side-business on eBay is actually a great way to save money on your taxes. The trick is to make sure youre putting all the additional expenses you incur against your additional income. Running an eBiz allows you to take numerous deductions that can add up to a lot of savings.

Deduct Your Home Office By definition, if youre an eBay seller, you have a home office. You have to have a space thats used exclusively for business, whether its in your spare room or your basement. But having this allows you to take a percentage of your mortgage interest, your utility bills, your homeowners insurance, and your homeowners dues as deductions against your business. And if you use your home to store inventory, even if it doesnt have its own room, you can include that space in your deductions as well.

Deduct Your Childrens Pay Rather than giving your kids allowances, pay them to help out with your business. Youre moving income out of your tax bracket, and you can pay them up to $4,900 a year before theyll have to pay taxes on it. Tax strategist Diane Kennedy, of TaxLoopHoles.com, says there are three rules to employing your child:

1. Have some kind of written job description.

2. Make sure theyre keeping track of the time they actually work.

3. Pay them a reasonable wage.

Says Kennedy, Take a look at personal expenses and how they could become business expenses. Things like employing your kids, having a home office, maybe your car youre using to run errands look at all the things youre spending money on now that could become business deductions.

How to Protect Yourself You need to be able to prove your deductions are legitimate business expenses, so its crucial you keep good paper work on everything. Track where your moneys coming from and what your costs are, and have documentation to back it up. Should the government ever have questions, youll be glad you did.

Good record keeping will go a long way towards satisfying the IRS. But you can lessen your chances of getting audited in the first place by forming a corporation or an S-Corp. If you default to a sole proprietorship, you have a one in twelve chance of being audited. Incorporating also gives you certain tax advantages.

When done properly, selling on eBay allows you to save money on the back end with taxes. As Kennedy says, So many people dont realize that just by having this little side business, they can actually immediately start paying lesser taxes. In fact, we say eBay tonight and pay less taxes tomorrow.

BIOGRAPHY: Product Sourcing Radio is Created and Hosted by Chris Malta and Robin Cowie of WorldwideBrands.com, Home of the Internet's Largest Source of Genuine, Factory-Direct Wholesalers for online sellers. Click Here for more FREE E-Biz & Product Sourcing info!

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One Thing at a Time - 2 Simple Steps to Organizing Your Customer Communications


Customer service communication is a concern for any E-Biz owner - you've got to respond to every inquiry, address every issue, and still find time for the many other responsibilities running an online business entails. According to E-Biz attorney Cliff Ennico, of CliffEnnico.com, "Customers today want instant answers and get miffed if you take too long getting back to them. With so many emails and voicemails to answer, and only so many hours in a day, it becomes an increasing challenge to keep up with it all." While you can't please everyone, Ennico suggests some steps you can take to stay on top of your customer relations without sacrificing your every spare moment:

* DON'T Answer Email in Real Time Stopping to respond to every email, as it comes in, can become a real source of distraction. Instead, budget blocks of time specifically for clearing your inbox. Depending on the volume of emails you get, you may need to set aside anywhere from an hour to a few hours, at least twice a day, to answer customer service emails. Explains Ennico, "That way, even the most impatient buyer is never more than a few hours away from getting a response."

When you do get to your email, delete your junk mail, then sort your remaining messages into three categories:

o Respond To Now If a message can be responded to in ten words or less, do it immediately, rather than letting it pile up. The vast majority of emails can be answered this way.

o Respond To Later If a message requires a lengthier response, or will take time to read, move to the next one and come back when you reach the end. If an inquiry can't be addressed in under twenty-five words, consider a reply such as, "Your message deserves more time than I can give in an email. Please call me."

o Respond To Never Many people struggle with ignoring any email, but there are times when it's best not to respond, even at the risk of being considered rude.

Over the course of the day, these categories will change. What was a Respond To Later will become a Respond To Now, etc.

* Turn Your Ringer OFF It's okay to silence your phone when you're working. Leave a professional sounding voicemail telling customers that you're away from your desk (they don't need to know if your desk is the kitchen table) and you'll return their call as soon as possible. If you answer the phone each time it rings, you can easily get to talking and find time quickly sliding away from you. Beyond that, you break your concentration flow it takes time to refocus on what you were doing and where you were in the process.

Just like with email, set blocks of time aside to answer your voice messages. Base the amount of time you allot for returning calls on how many you normally receive, and how much time you usually spend responding. You may not be able to reach everyone during your scheduled time that's okay too. Telephone tag is a fact of life; you'll connect sooner or later.

Managing your communications effectively can be the difference between running a successful e- business and letting your e-business run you. Says Ennico, "Plan your days ahead of time and, as much as possible, stick with the plan. You'll be amazed at how the simple act of creating an organized Customer Service Schedule can free your time up."




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Take Charge of Your Time, Take Charge of Your Business - Budgeting Your Time to be More Successful


Running a One-Man Show Transitioning from working in the corporate world to working from home requires a lot of adjustments, but the biggest one is probably organizing your time. Because, in a very real sense, it is your time now. It's not your boss' time or the company's time - you answer to yourself. That's a tremendous amount of freedom, but it's also a great deal of responsibility.

You're now in charge of every aspect of your business. It's your job to find your clients, as well as to deliver your services to them. It's your job to collect the money, pay the bills and make the office run. You're not only your boss, you're also your secretary, your marketing department, your tech support, your accountant, and the list goes on. Without a support staff backing you up, time-management becomes critical to your business success.

4 Tips to Make the Most of Your Time It's imperative that you have a plan and that you follow through with it:

1. Schedule your days, and stick to your schedule. Assign certain times for certain activities and projects. If you don't put yourself on a schedule, it's very easy to find yourself wandering aimlessly and waste the entire day without really accomplishing anything. Or to forget some important task until it's too late.

2. Make a to-do list each day and be diligent about crossing everything off. If you don't get something on today's list done, it should go right back to the top of tomorrow's list. Rosalind Resnick, founder of Axxess Business Centers (ABCbizhelp.net), says, "That's one very good way to stay focused. Otherwise 5 o'clock rolls around and it's time for dinner, and you've got nothing done."

3. Set aside time to market yourself. Promoting your business is essential, so schedule time for whatever it is that you do to bring in new customers.

Consider using the first hour of the day to make phone calls to potential clients, send out emails, etc., before you get busy with all your other business.

Resnick recommends using lunch as an opportunity for networking: "Everybody has to eat, so have lunch with either a client, a potential client, a consultant, or a professional services provider who could provide you with leads to the client, at least three out of five days a week."

4. Have a place in your house designated for business purposes only, whether it's the spare room, the den, or the basement. There'll never be a shortage of distractions when you're working from home - the kids, the fridge, the TV, even the solitude - to pull your attention from the work at hand. If possible, set up your office somewhere that has a door you can close. Make sure your family understands that your workspace is separate from your home space and when you are "at work", you're unavailable for non-emergencies.

Just being good at what you do doesn't guarantee you a profitable home business. If you want to be successful, you're going to have to take control of your time. If you discipline yourself and organize your time according to your needs, you'll really put yourself in a position to achieve your goals.

BIOGRAPHY: Product Sourcing Radio is Created and Hosted by Chris Malta and Robin Cowie of WorldwideBrands.com, Home of the Internet's Largest Source of Genuine, Factory-Direct Wholesalers for online sellers. Click Here for more FREE E-Biz & Product Sourcing info!




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3 Tips for Every Woman Starting a Home Based Business - Challenges to Expect, Keys to Succeed


More and more women today work from home, and even more want to. Some are single moms or widows who need to earn a living. Others just want a little extra income or a sense of independence. Particularly for women, starting a home business presents a unique set of challenges. Lesley Spencer, founder and president of Home Based Working Moms (HBWM.com), suggests three steps to help ensure newcomer success:

1. Consider Your Options The first obstacle in starting a business is figuring out which one's right for you. Before making any decisions, find out what's available to you. Almost anything you can do - whether it's graphic design, sales and marketing, or administration - you can do from the comfort of your home. Before determining a direction, look at all factors involved:

Your skills and interests. You're much more likely to persevere and succeed if you enjoy what you're doing.

Your personality. If you're extremely shy, hosting home parties might not be right for you - even if you really like the product you're selling. Many women fail because they jump into the first thing they see, and it doesn't work with their disposition.

Your needs. Take into consideration your own unique requirements: How many and what hours can you work? How much money do you have to make? How much flexibility do you need in your schedule?

Once you've researched your opportunities and analyzed your skill set, you can make an informed, intelligent decision about which career move is right for you.

2. Make a Conscious Effort to Develop Your Customer Base Many women are good at what they do, but don't know how to market themselves to reach customers. Spencer advises, "Make a conscious decision to do something to market your business daily, or at least weekly, whether it's a mail- out, an email campaign, or offering a special."

Word-of-mouth referrals mean more business, so focus on doing a good job for the clients you have. Always do follow-up - you want to stay in contact and remind people you're there. Having a web site, an online presence, is another tool you can use to attract new customers.

3. Don't Be a Lone Ranger - Find a Support Network You don't have to feel alone, or try to handle everything yourself - numerous online communities offer support and advice. Many of these online groups provide Listserves, which allow you to post questions that all the site members can see and respond to. Says Spencer, "Just asking someone with that experience can save you hours of research." Whatever business you're in, there's a forum for it. Seek out women that have already succeeded - find a mentor.




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Virtual Staffing for Your Small Business


What's a Virtual Assistant? Virtual assistants are independent contractors or entrepreneurs who provide administrative assistance to multiple clients. Unlike regular assistants, they work out of their homes rather than at your business' physical location. Virtual staffing companies match virtual assistants with small and home-based businesses who need help running things. Many of these businesses are finding that there are numerous advantages to using a virtual assistant over hiring traditional help:

Location. If your office is small, you don't have to find a place to put another employee. This is an especially important concern for entrepreneurs with home offices.

No Overhead. Virtual assistants provide their own office supplies, desk, computer, software, and phone lines.

No Benefits. They're not your employee, so you aren't responsible for paying social security or income taxes, holidays, insurance, vacation or sick pay.

Lots of Flexibility. It's significantly easier to find a virtual assistant who can work evening hours or weekends - after all, they're working from home. And you can give them more or less hours as your needs change.

How Do I Know What I'm Getting? Gayle Buske is the president and CEO of TeamDoubleClick.com, a highly reputed virtual staffing agency. Her clients are often concerned about hiring someone without ever seeing their face. She reassures them that, because the agencies don't get to meet the people they send to their clients - often they're in different states - their hiring processes are a great deal more stringent. In fact, Buske admits, "We turn away about seventy percent of the people that we interview." Those who make the grade go through a nine-part interview process before they're trained and certified.

Virtual agencies try to match each client with an assistant who fits for their specific needs. They look at qualifications, personality and work style, and hours of availability - both number and times. Whatever your unique requirements, they'll work to find someone who's a good fit.

Common Client Concerns How Do I Know That My Assistant is Actually Working the Hours I'm Paying Them For? To allow you to track their progress, many agencies have their staff send daily reports of their activities. They may say how many inbound calls they received, how many outbound calls they made, how many appointments they set, what documents they worked on, as well as how many hours they put in for the day and their cumulative hours for the week. These daily reports can help you stay on budget - if you see they've already worked the total hours you planned to pay them for, you can push back other projects until next week.

How Hard is It to Work With Someone From a Remote Location? Buske points out, "There's so much technology now that really facilitates working virtually." She contends it's as simple as hitting the speed dial instead of the intercom, or attaching files to an email rather than walking them to the next room. Most of your communication will be via phone, fax, and email. There are also online meeting programs, like GoToMeeting.com, that let you do demonstrations and presentations, such as for training purposes.

And their skills run the gamut - everything from accounting to marketing to graphic design. Whether you need someone to answer incoming calls and do mailers, or someone who can manage your entire business when you're away, you can find virtual staff with all levels of skills.




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Health Savings Accounts - What They Are and Why They Work


Healthcare Help for Entrepreneurs?

If you are in business for yourself, you have probably already discovered that individual health insurance is extremely cost-prohibitive. You may think paying outrageous fees is your only option. Or even that you can't afford health coverage at all.

What Are Health Savings Accounts? A health savings account (HSA) is an insurance policy that was actually designed with the self-employed and the small business owner in mind. According to Mark Baker, HSA specialist for Golden Rule Insurance Company, "An HSA is a higher deductible health insurance plan that is coupled with a tax advantage savings account."

The difference between purchasing individual healthcare and investing in an HSA is similar to the difference between renting a home and buying one. If you rent, each month you write out a check to help your landlord pay off the home you're living in (and you don't even like him!). On the other hand, if you buy, you incur a higher cost up front with the deposit, but with every payment, you build equity.

Similarly, with individual healthcare, the premiums you pay for your policy are gone forever, whether or not you ever use your insurance. Whereas, with an HSA, you pay a higher deductible when you file a claim, but the money you invest in your health savings account remains yours, whether or not you use it. And when you do need it, it's there for you - it just builds up to be used for any future medical bills you encounter.

The Bad and Good:

You start with a high deductible. Not an attractive feature but it gets better.

Your high deductible results in significantly lower premiums.

The money you save, you can keep tax-free in your HSA. When you face any kind of medical expense, you can use that tax-free money towards your deductible.

How it works: Let's say you're in a car wreck and wind up getting saddled with tens of thousands of dollars in medical expenses. Even though your deductible with an HSA is high, say three thousand dollars, the money you've saved (tax free) in your HSA will likely cover it.

When your deductible is met, your insurance takes over payments for its percentage of all your covered expenses. Every plan is different, but the most common scenario is that once your deductible is paid, you are covered for the remainder of the year. You can even use the pre-tax money in your account towards dental and vision expenses. Or out-of-pocket costs, like filling prescriptions.

And as long as you have a health savings account, that money remains tax-deferred in your account for any medical expenses you encounter. If you find at the end of the year that you have not spent what's there, don't worry - it rolls over. In fact, it can just sit there and earn interest until you do need it. According to Mr. Baker, his company is now paying a four percent interest rate on their clients' HSAs. If you spent that same money on the premiums of a plan with a lower deductible, that would just be money down the drain.

Your family deserves better coverage than your lucky rabbit's foot affords. If individual health care plans are out of your small business' budget range, health savings accounts may provide a very viable option, so you can have peace of mind in knowing that you're all covered... just in case.




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Software Designed Around Your Needs - Microsoft's NEW Small Business Solution


Microsoft has a new service designed with the needs of small businesses in mind - businesses with ten or less employees. If you've thought about taking your business online, Office Live makes it easy for you. There are three different versions of this software to meet the particular needs of your small business:

Option One - Basic This first solution is Microsoft's core product and comes with several free services:

a domain name web hosting email in your company name

If, for example, you open a hair salon called "Anne's Coifs," your first step would be to log into OfficeLive.com and see if that name is available. If it is, then Microsoft registers that domain for you, AnnesCoifs.com. With your domain name, you also get a free email account for your business, and a web site which you can customize using a variety of templates.

There are easy-to-use tools for setting up your free web site. And just because you're using templates doesn't mean your site has to look like a cookie cutter. According to Terra Terwilliger, Microsoft's worldwide business management director, "You get a tremendous amount of flexibility in those templates. You can have over 50,000 combinations just using the dropdown menus." You can also upload your own logo, text, and pictures.

Option 2 Essentials This is the more advanced version. You get all the features of Basic and some others as well:

Business management tools for managing your customer lists, company assets, projects, etc.

The ability to go beyond the template format and design your web site yourself, or hire someone if you choose.

The ability to create password-protected shared sites. You can post documents and make them viewable to your customers, business partners, employees, etc. They can log in and view the status of your projects, review files and information, or see what tasks need completed. Depending on the access level you give them, they can either view the site as read-only, or they can edit those files to keep them updated.

Option 3 - Collaboration Collaboration gives you all the business applications without any web features. Says Terwilliger, "If you already have your own web site, but you just want the business tools and the shared site, you can get that too."

Making It Work For You Office Live is in beta right now, with about 75,000 customers signed up for the free trial version. Basic Office Live is, and will always be, free. The upgraded versions will charge a monthly fee when the final product is launched, but are still more cost- effective than a server. And because the software's in testing right now, all the services - including the subscription services - are free.

Microsoft plans to release the completed version in late 2006, possibly November. In the meantime, users are encouraged to try all of the different features and give feedback to help make Office Live more user-friendly for small businesses.




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Tax Loopholes - 3 Ways to Make Tax Laws Work FOR You


Many people associate the words "tax loopholes" with questionable accounting practices. But according to tax strategist Diane Kennedy, of TaxLoopholes.com, "A loophole is nothing more than a government incentive - tax laws are written to favor people wanting to start businesses because businesses stimulate the economy." Tax loopholes are just legitimate deductions the government allows in order to encourage certain behaviors. Exploiting loopholes isn't about skirting the law, but rather making it work for you.

3 Steps to Reduce Taxes 1. One of the best ways to reclaim your tax dollars is by starting your own business. Owning a business allows you to take advantage of the way tax laws are written. With the increase of e-commerce, it's easier than ever to start an online business. Whether you offer a product or service, an e-business is an excellent vehicle for lowering your tax liability.

2. As a business owner, it's crucial you consider the business structure in which you operate. Don't just start selling online without considering the tax implications or bothering to incorporate. Says Kennedy, "Your business structure can save you a lot of money not acting on that can cost you tens of thousands of dollars."

3. Many business owners miss out because they fail to take all their lawful deductions. Particularly when starting a business, you're going to encounter many expenses that you can legally deduct but you have to report them, or they don't do you any good. It's important to keep records of all your business-related costs because anything ordinary and necessary to the production of income is a valid deduction. Don't be afraid to take advantage of the business tax breaks the law allows:

Home offices. Changes in tax laws have made this a fairly simple deduction. You need a separate room used exclusively for business, and you must regularly conduct business in that room. If you meet those two criteria, you qualify for a home office deduction.

Business-related storage space. Unlike a home office, this space can be multi-functional. If you use one-third of your wreck room to store inventory or promotional products, then one-third of that room's square footage is tax deductible.

Wages. Rather than giving your kids an allowance, pay them to help out with your business.

Travel. All your business travels, including driving around town for business errands, are deductible. For validation reasons, you need to keep track of the mileage and purposes of each trip.

Donations. Anything you donate to your business serves as a deduction. Even if your business can't afford to repay you right away and you have to take a loss there, that net operating loss can roll forward and offset future income.

Money you earn is subject to taxes the more you earn, the more you pay. However, when you save money by reducing your tax bill, your savings are yours to keep. Tax laws are written to foster your business' growth, so put them to good use. Take a close look at your accounting and expenses, and avail yourself of the tax loopholes and breaks to which your business entitles you.




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Good Business Sense - Microsoft's FREE Accounting Solution for Small Business Owners


To be truly successful, you have to treat your business like a business, and good accounting practices are a big part of that. Yet only 20% of the twenty million small and home-based businesses in the U.S. use accounting software to track their business finances. Many home-based business owners' "bookkeeping systems" still consist of pens, paper, and boxes stacked in closets. Worse, many more don't keep records at all. They have no idea where, or if, they're making or losing money.

There are two main reasons business owners cite for not automating their finances and getting their businesses in order: price and complexity. However, according to Eric Gilmore, Product Manager for Microsoft Office Accounting, Microsoft's latest edition to their Office line-up eliminates both those excuses. Says Gilmore, "Office Accounting Express is available for FREE, no strings attached, no training required, at IdeaWins.com." Designed to be simple and user- friendly, the software necessitates no training manuals or courses and can be downloaded for free.

Simplify, Simplify What does automating your finances do for your home business? It does several things, actually:

* It saves you a tremendous amount of time. You no longer have to manually enter and re- enter data again and again you can enter it once, and re-use it across different applications. Many tasks that had to be performed manually also become quicker and easier. With automated accounting, you can create quotes and invoices that you can export to other programs and customize for your business.

* It helps you organize your finances. Utilizing accounting software lets you track your expenses, your profits, even your employees' hours. When you can clearly see where money is coming in and where it's going out, you can see what areas are profitable for you, and where you need to make adjustments. You also know you're not paying too much in taxes; and should you ever be audited, you have good records to back you up.

* It simplifies your online business transactions. Office Accounting Express accepts credit cards and PayPal payments you can use Microsoft's merchant account provider, or integrate your own merchant account with your software. Through Equifax, you can monitor your customers' credit reports, right in the application itself. With a few simple clicks, you can convert a quote to an invoice, email it to a customer, and accept their payment online.

Employing accounting software helps you run your business more efficiently and streamline your processes. You're be better equipped to handle your company's growth, because you're in control. Says Gilmore, "This new software is free and incredibly simple to use so whatever excuse you've been using for not getting your business organized, it's no longer valid."




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The Voice of Experience - Getting Guidance for Your New Business


Many people dream of leaving their nine-to-five jobs and going into business for themselves, but very few actually understand how to start or sustain a profitable E-Biz. In a traditional job, you can always approach a supervisor or co-worker with questions about how to execute a project better, perform a task more efficiently, or handle a particular situation. However, once you venture into business on your own, you're literally on your own - and that's a very frightening place for most people. That's why, when starting your own business, it's imperative that you get guidance from the get-go.

Don't Go It Alone If you don't have a support system in place, or any clear sense of direction, it's easy to grow frustrated or scared, and retreat to your comfort zone without achieving the independence you dream of. A reputable business coach can teach you the best start-up practices and help you implement winning business strategies. Another option is to join an online forum, where you can present your questions to other E-Biz owners who bring to the table the seasoned advice of those who've already achieved eCommerce success.

According to Andy Jenkins, creator of online business forum StomperNet.com, "Most new E-Biz owners face exactly the same issues and challenges - and they're a whole lot easier to handle when you have someone helping you who's already faced them successfully."

Understand the Pitfalls Having mentored thousands of new entrepreneurs, Jenkins sees the two most common problems they confront on a regular basis as 1. setting correct priorities and 2. overcoming what he calls "paralysis by analysis."

1. To run your business effectively, you have to organize your priorities. The difference between a successful E-Biz and a failed E-Biz is often determined by where you spend the bulk of you efforts and energy. As a new entrepreneur, you have limited time and funds. Spending too much of either on peripheral matters means you're neglecting your core concerns.

It's easy to waste tremendous amounts of time trying to learn the ins and outs that are necessary to manage your business, but that don't really generate a profit in the long run. In an online business, you should have a three-fold focus:

o finding the right products o driving targeted traffic o converting that traffic into sales

That's it. All other issues are secondary - you have to deal with them in your day-to-day operations, but don't lose sight of the big picture.

2. Another common problem with eCommerce newcomers is that they tend to overanalyze every scenario, and develop "paralysis by analysis." When you don't have all the answers, or aren't certain of your next move, it's easy to just sit back and procrastinate. But making excuses or putting things off will cripple your ability to do even the most fundamental things to grow your business. It's important that you deal with the business aspect of things in a timely manner. You need to treat your Internet business like a real business - time is money, and you can't waste it being indecisive.

Launching your own E-Biz may seem like an intimidating prospect; but you largely improve your chances of seeing a positive outcome when you find experienced, knowledgeable mentors to help you get started right. States Jenkins, "Starting a venture is always a risk. But you can greatly facilitate your own success by seeking out qualified support to help you find your focus and keep your business moving forward in the right direction."




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4 Rules for New Entrepreneurs - Practical Tips for Starting Right


Its a great time to be an entrepreneur in the last decade, technology has leveled the playing field and propelled an entrepreneurial revolution. As an entrepreneur, you now have more access to information that enables you to make more intelligent choices more quickly. You have an advantage over big businesses in that youre lighter, more flexible, and faster on your feet. You can target new markets more quickly, and you can turn on a dime.

But being a successful entrepreneur requires that you look at the big picture and follow a plan through from beginning to end. Rieva Lesonsky, editor-in-chief of Entrepreneur Magazine gives some practical guidelines that can help you when beginning your own enterprise:

1. Dont Quit Your Day Job. Consider starting your business part-time, especially if its online, while youre working and have a steady income. It usually takes six months to a year to get a business going and you dont want your ability to make your house payment to hinge upon your company being an overnight success. Start with what you can manage, financially and time- wise, and scale up as your business grows.

2. Find Your Niche. The days of general stores are over. Particularly online, consumers are looking for stores that specialize. You have to find a need something a specific group of people want, but cant get at the big chain stores and fill it. Advises Lesonsky, You cant compete with the big guys, so you have to find where the big guys arent and go into your niches.

3. Have an Online Presence. Even if youre not planning to start an online retail business, consider that the internet can still play a valuable role in your company. Having an online presence eliminates the limitations of physical location and broadens your customer base by, literally, millions. Its also a great tool for promoting yourself and letting people, even in your own area, know that youre there, and what youre doing.

4. Refuse to Quit. Successful entrepreneurship requires creativity, energy, and a drive to keep going when you fail. Few people realize that before Bill Gates created the extremely successful Microsoft 3.0, he created a Microsoft 1.0 and 2.0, both of which flopped but he kept at it. And that determination and refusal to give up is what will separate successful entrepreneurs from unsuccessful ones. Says Lesonsky, Arm yourself with optimism to get beyond the No or the trouble. Theres nothing wrong in failure just dont repeat the same mistake!




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Worldwide Brands' Wholesale Directory gives online retailers a direct connection to thousands of wholesale suppliers and dropshippers. Some online merchants shy away because the price of their Wholesale Directory is higher than that of their competitors. Worldwide Brands' Founder and CEO, Chris Malta, explains the hidden cost of buying a cheap Wholesale Directory that fails to connect you with legitimate, factory-authorized wholesale suppliers and drop shippers. Cheap Wholesale Directories are filled with middlemen and fake wholesalers, and are often just a means for generating leads to sell to online marketers, who will then bombard you with their ecommerce 'solutions'. This video describes what goes into Worldwide Brands' Wholesale and Drop Shipping Directory that makes it a valuable tool for sourcing products to sell online, and shows how it actually costs less than cheaper Wholesale Directories, even at a higher price point.

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