Travel the world with a low budget, really!

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A lot of people have asked me lately how I have been able to start traveling more frequently and how it is that I can work from home. Well there are many ways how you can too! For starters, if you want to travel and make an income look into freelance websites where you can apply your experiences and skills and be able to work remotely. Now if you are ever stuck trying to figure out how to travel smart and cost effective. I would highly recommend taking a read at our COO’s Blog Post, great read and ALOT of resources for YOU Check out the blog post: here

Sleek & Stylish Necktie + Wallet “Knot Your Average Tie”

We have officially launched our Kickstarter Campaign:

Sleek & Stylish RFID Necktie + Wallet

Slim lightweight 100 % Silk Necktie + RFID Genuine Leather Wallet, for your cards and cash. A tribute to the modern man, always on the go, but forever in style.

We have designed the most sleek & stylish necktie + wallet. Our Kickstarter page has a video and more information why Ejamsi is unique.

Innovative menswear – The Ejamsi Necktie will be the world’s first sleek Necktie + Wallet: made of hand stitched genuine leather and 100% Silk necktie.

Sleek design – The Ejamsi Necktie will come in two different designs. A 4 card slot design to fit up to 8 cards 2 cards per slot, and a 3 card slot plus cash slot design to fit up to 6 cards 2 cards per slot and last slot for cash (ID Card, Drivers License, Debit/Credit Card, Discount Card, Gym Card, Cash, etc.).

Made for daily use – The Ejamsi Necktie was made solving a common issue we encountered as daily suit and necktie users. It eliminates carrying a bulky wallet and allows you to sport your favorite suit or shirt with our tie. It will also eliminate carrying a wallet altogether reducing left behind wallets at any restaurant, cafe, shop, cocktail lounge, etc. and any theft of wallet from pocket or coat. Convenient and stylish for work and a night out at the cocktail lounge.

We are live on Kickstarter

Questions, feedback, let me know! Send us a direct message on Kickstarter 🙂

Knot your average tie

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For over a year I along with my dad Edwin Ramos and our team have been working real hard in creating Knot your average tie and now we need your help!
We would love your help choosing our logo and brand. We have narrowed it down to our top 8 designs! Our team needs your help and input If you can spare 30 seconds and check them out and leave your ratings and any comments.
Thank you all for your help! We are excited to announce we be launching this innovative product for men to Kickstarter real soon to share it with you and the world for Pre-Order!

Click on this link to vote:
https://99designs.com/product-packaging-design/vote-2784ua

Why wait for the perfect opportunity?

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What a weekend! Definitely was one for the books. had the opportunity to attend a workshop that will forever change my life. The Daymond John Academy. The last couple of years have been very rough for me. Many personal changes were made, from friends, to priorities, to my vision on life. 

Sometimes we set ourselves to fail. Day and night I think to myself, about what mistakes I have made, where I went wrong. However I thank God and life for the mistakes, the struggles, and the battles. You are your true enemy and I mean that with all sincerity. We sometimes say no, it won’t be done, it can’t be done. We surround ourselves with negative people. People who want to see you fail. People who think there is no higher power, no other option, than the norm, the usual, the good ol routine. PSHHH!!!!!! Ya right. No way. Not for me. Don’t you agree? 

There are times we look at the obstacles like a challenge. DONT! STOP! You are hurting yourself. I have learned to look at the obstacles as an opportunity. There is no challenges but opportunity you can take advantage of. If you don’t know something, well learn about it. Read about it, ask about. It is ok to not know all the answers. What good would that be? Where is the fun in that? 

The future holds a very mysterious road for all of us. We don’t really know where we will be in 10 years, we can only set ourselves to a goal to achieve where we want to be in those 10 years. You need to set a plan, both personal and career/business plan. If you want to achieve greatness than start telling yourself you will do whatever it takes to get there.

I am super excited to share upcoming news with you all about some of the projects I am working on. I thank every single one of you that has been there with me from the beginning. You guys rock! 

 

Much love,

 

Silvestre Ramos

Business Scams, Fraud and Account Management

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Explain the scope of fraud and why it impacts small businesses to a greater extent than large businesses. What should the owners or managers do to prevent fraud from occurring in the first place?

 

Fraud has been a targeted problem that many businesses from all types of industries have held a guard on. Fraud happens really everyday, at stores, ID Theft, credit/debit card usage, hacking into accounts or computers, etc.… When starting your own business it is crucial to not pinch pennies on how to set up your bank accounts, or what platform of e-commerce you are going to use. Make sure to always choose a e-commerce platform you feel most comfortable with and go on and use it. Set up a secure website where all your data is encrypted and secure. If you are opening your shop/store make sure to a secure payment gateway in place, and always try not to only accept cash, because you are bound to be robbed much easily rather than accepting both cash and debit/credit card payments because in the eyes of the robber, if they see a CASH ONLY sign you could be setting up yourself for more chances to get robbed, it is best to take every precaution possible.  

Accounts Receivable Management:

 

How does the extensive use of credit cards by their customers affect small businesses?

The business can be affected in regards to the fees that the fees that the business owners have to pay, but this is already included in the selling price that business owners have to charge already upfront, it is necessary to understand that the fees and costs today are much more competitive among the variety of options that business owners have, you have square, shopify, PayPal, and your own bank merchant services who all provide the service for businesses, it all depends on the volume of transactions you will be processing to decide which one to choose from.

 

Why is factoring not generally a viable long-term strategy for a small business?

As a small business long-term strategies can pretty much jump across the board. It is crucial to look into the options you need to take into account, who to use for payment processing, what bank to bank with, what are the financial decisions you will make will be your overall cost. If you look into businesses and entrepreneurs, all share one common trait. They all need to know and learn about financing, marketing, sales, customer service, etc.… As a start up you must understand the basics of business in order to do business or you will have a harder time getting your business off its feet.

 

Explain the four C’s of credit. Which is the most important and why? 

  1. Capacity – Is the availability to pay back a business debt, and the average of how much you can have in return of revenue.
  2. Capital – It is what assets you have in cash at hand.
  3. Collateral- is what you are guaranteeing to help secure a loan, could be cash or assets (building, cars, etc.).
  4. Character- Businesses need to show their credit history in order to quality for many loans, both the credit history and the businesses financial statements will show how solid the business has been and if they are successfully proving themselves as profitable than they have a better chance getting the loan they are requesting. 

International Business

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If there were a market for it, would you consider entering an international market for a product/service which you offered in your own enterprise? Why or why not?

There is only particular market I have plans into entering, as of now I can not disclose what is will be, however I have been studying this trend for some time now. I have been filtering out the pros and cons of entering the market, and I have came up with the conclusion that there are not many competitors in this industry nor are there really any businesses focusing on promoting this sort of business product to this region of the world. The advantages that I will have are to my favor, however as any other business there is logistics, which I still need to understand and figure out. I believe that with a few more things to cover I will soon disclose what it is that I am working on. What I could say is that it is a niche market, that has a booming market with a targeted age group, and a market that I am very familiar with. I believe not only my countless hours of research but my studies as a international business undergrad student, will help support my new venture.

 

I spend sleepless nights investigating more about this market, and I keep coming up with no competitors, it is both existing and nerve wreaking to make time past faster to start on this venture, but with patience and a well thought out plan, it shall happen soon enough.

 

 

Manufacturing Quality Control

 

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In this exercise I will answer a few common questions about manufacturing and quality control.

 

Consider the viability of small business production in the United States today. Since so much manufacturing has left the U.S., how can a small business be successful in manufacturing in the U.S. today? Or, do you think that it is impossible?

Manufacturing is still strong in the US. There are many advantages as a business to continue to do manufacturing in the US. Some of the manufacturers still in the US stick to a lot of organic, and efficient technology. Those that have stayed in the US or businesses who started in recent years by using their own manufacturing facilities promote not only the “Made in the U.S.A.” labeling but also promote the fact that they use ethical labor laws and clean energy. Those that can afford to keep their manufacturing in the US still does. Not all businesses can be competitive if they stay in the US, it comes down to what can a business offer “different” to keep their manufacturing facilities in the US, this questions is answered by, what type of business do they run and who is their target market? If you target market is a consumer who is product conscious and only buy those products made in the US than you have a market and business to build upon. If you for example make cell phone cases carved out of wood from the Red Woods of northern California than you have a market to cater because there are many consumers who would buy your products. If you are targeting the plastic cases than you sometimes have to produce your products overseas because consumers are not willing to pay very high end prices for “plastic” therefore you’re in a way forced to produced overseas. Of course there is the 3D printing which is a whole different market to target, therefore regardless if you make your products in the US or oversea, make sure to first study your target market, and understand what they like, how they like it to be made (if they even care at all) and what price are they willing to pay for your product.

Discuss an example which you have experienced or witnessed where quality control gone awry.

 

Quality production is very crucial to a business success. When your producing a good that requires a lot of attention to detail, time and commitment from the teams involved is key to the success of the company. As a business banker I have the opportunity to work with many businesses, meet very inspirational business owners, and get a chance to visit their facilities. During one of my many business visits (which we are required to do for any new businesses), I went to visit a very upcoming and successful metal scraping shop. It was a early Saturday morning and all the workers were just getting to the shop. While I was waiting for the business owner to get to the shop, I sat down and watch as all the morning shift turned on all the machines and got to work. After about 30 minutes into my observation (as I waited for the business owner) I saw how they had little to no protection but some gloves and goggles, and I thought to myself, there has to be more protection to there work than a simple pair of gloves and goggles. After the business owner got there I went into his office and we begun our meeting. He was applying for a business line of credit and refinancing his commercial building. After out conversation about his last 2 years of business gross revenues and financial statements, I discreetly asked him if there was any additional protection available for his workers, and he replied by simply saying,
“no actually those goggles are new, we just added them to their requirement because one of the guys had left to the hospital due to an eye infection”. I felt I was in no position to mentor the business owner who ran the shop for over 20 years, however I did say “ I noticed that there are a few laws that can damage your business, I would recommend to seek some business attorney advice, because if the worker decides to report the business you could be damaging your 20 years plus business that you built from the ground up”. It surprised me how naïve a business owner of many years can be, simply for saving cost of adding any additional protect to his workers, and focusing more on rapid production and revenue, however into production the quality of not only his products but the employees is crucial and I believe he was opening doors to some major trouble. He was concerned about keep his quality of products very high and not spending any funds on protecting his employees. I mentioned that yes the quality is important but the safety of his employees is as important.

 

Many entrepreneurs face this same issue when running a facility of their own. Where do I spend my money, and how much of it? It is a very common question to ask. Make sure to always look out for key attributes, quality, safety, and efficiency. If in doubt consult an expert to help guide you.

 

 

E-Commerce, the booming industry

Today I will answer a few questions that have been brought up:

Why are large firms so slow to change? Think about the reward systems in place in such firms, as well as organizational issues.

This is a common question that I have asked in the past to many large businesses that still do things very old school and do invest in updating their technology or restructuring their workflow. One of the recent examples I can refer to is the new Bank I am currently employed at. They are a 106-year-old bank that is still managed by it’s founding family, and till this day the current CEO and President are brothers, both the 4th generation running the bank. It has its pros and cons of having to be part of this organization. I have always been used to being part of a very techy oriented bank therefore getting used to an old school bank has been a challenge. However I find how much respect is given and to the bank by the community and by its clients, and also how much of a great reputation the bank has held throughout the many years. Although they have become a large bank with over 20 branches in the local area, they still are prudent and slow to change. They don’t make sudden changes to its paperwork processing, when I know there are faster and more efficient ways of processing things, the technology is quite not there yet. It is however gradually changing which is a plus for many of us that are coming from larger banks who already have updated technology, however it is also a plus because we are able to give our input of how they can improve with their current selection of technology.

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What are the pros and cons of doing business entirely online without a physical storefront or presence? Consider this question from the perspective of selling a tangible product.

The e-commerce business is one of the fastest booming industries in the world. Today a lot of the biggest businesses run strictly online, a few examples are amazon, eBay, justfab, fab, zazzle, to name a few. All of these websites are either marketplace for other sellers or actually online storefront for other products. A lot of time what many of these stores are doing is called drop shipping. They are taking orders on their website, to later go and buy the product from one of their vendors therefore never having to carry inventory or overhead cost and relying strictly on the purchase of shoppers of their website in return making profit from the difference of the upsell price they imposed on their website. This isn’t an uncommon practice as the e-commerce business begins to become a worldwide booming industry, many businesses are beginning to jump on board and get a piece of the pie. It really depends on the type of business you would prefer to carry. As a e-commerce business you don’t get to ever see your customers or consumers therefore it does miss the physical interaction aspect of it. If you prefer to have your customers shop face to face than you would rather open a shop or store vs. only opening an online business. Now a lot of time there are many businesses that not only operate via online but also do have their storefront shops in order to supply the local market and have the availability of their product. In the end it comes down to be a question of asking yourself, which one you prefer to take on and make sure to stick to your decision.  There are great tools found online that will help you start your own business, the best tool I have found that I currently use to sell products online is shopify. They offer you a great full service platform. Check them out!

Buying a business at “Good Will”

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Some of the advantages and disadvantages of buying a business as opposed to starting one from scratch. What two ways can one buy a business and which is preferable? Why?

When you think about whether or not to buy a business, the first thought to you mind should be, how much return can I gain from it? Is there an established brand, and customer loyalty that will favor my investment? This of course isn’t the only reason to buy and take over an established business. You must also take into consideration, if you have experience in this field of business. While being a business banker, I have the opportunity to meet many businesses from all types of background and industry, and one common mistake I see is people with little to ZERO experience buy businesses that have NO clue how the industry works. They look for ways to invest their savings in order to achieve higher profit margins than your typical savings, money market, and investment retirement accounts. However there is still a key piece that is missing, EXPERIENCE. If you don’t know how to manage a restaurant, than it is best you don’t immediately buy an established restaurant. WHY? You ask? Because there is more than simply attending clients, and fulfilling orders, you need to account for the marketing aspect, the fact that you need to be there 24/7 taking care of the take over phase while the current employees get used to the new boss (YOU).

Starting a business from scratch is much favorable for those who have the experience in the industry and want to branch out to either serve a niche market, such as a chef branching off to open their own restaurant to serve his own receipts and food creations. As a business owner you can establish a brand new business if you already have the experience in the field. If you have no experience in the field than I recommend you invest in hiring experts to run your business, because the biggest part of taking over an established business is making sure you can maintain a well deserved rate of return on investment. Take time to research what type of business you want to buy and take over if you have investment capital to spend, however always take into consideration to have experts on your side of the playing field in order to not throw your money away simply because of a splurge of a business you liked.

You can buy your own business by contracting a business consultant who has many years of experience in the field and can help you find your ideal business; he/she is like your agent.

Or you can also do the research on your own if you understand your industry and can rely on your expertise to find your ideal business. Which one of the two is favorable? That is up to you to decide.

 

Is there such a concept as ―good will‖ in reality and is it transferable? Why or why not? Give an example.

There are a number of “good will” companies that currently serve the community, such as non-profit organizations. Non-profits are built to serve a purpose, a cause, and a community. It is run by experienced managers, executives, etc.… who sometimes do in fact get paid sometimes salaries over millions of $$ a year. Yes that right, Millions of $$! Now some people might wonder why the heck do they get so much money? Well in fact a lot of non-profit schools, hospitals, etc. need to have experienced executives to run the organization, and this comes with a price! Of course in fact non-profits run like a business, in contrasts however there are a lot of tax savings and benefits that the corporation can received however it doesn’t have a different of business structure. It still has managers, HR, accountants, engineers, doctors, etc.

Greg Hickman founder of Mobilemixed.com

The Creator/Host of Mobile Mixed a Mobile Marketing Consultant focused on retail, Co-Founder of Thumbfound, Entrepreneur & Mountain Biker. Greg started off as an agency guy having the opportunity to work on brands like Pepsi, Lipton, and Walmart, creating and managing digital, in-store and grassroots initiatives.

Check out his website for more tips, and tricks of mobile marketing:
http://www.mobilemixed.com

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