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In this issue of the Dental Post's: 1) What if The Job Could Talk? 2) A Winning Formula for Marketing...See more to Existing and Past Customers. 3) The FDA Medical Device Excise Tax Update and IRS Proposed Ruling. 4) A Winning Formula for Positive Tele-prospecting. 5) The Financial Ratio Analysis Encyclopedia
In this Issue: 1) Five factors that affect the value of your business. 2) A winning formula for positive...See more tele-prospecting results 3) The powerful act of coaching employees 4) Lean in sales and marketing 5) Introduction to the Dental Appliance Manufacturer Audit System
How many times have you gotten some highly creative idea after watching or playing with your child?
Creating...See more an environment with the sheer energy, excitement, and creative enthusiasm of a child is something that businesses needs to understand and nurture.
The excitement that emanates from a playful work environment is directly related to the ability of the work force to apply these creative ideas to solving problems, and creating innovations in products and services.
Think about the creative process this way. Imagine an idea as a round ball thrown onto a meeting table. In a structured workplace, were people are not easily engaged, the ball may easily roll off the table. That same ball in a fun working environment, might get some immediate comments. Think about each comment as a small piece of plastic you stick to the ball. The many pieces of plastic will keep the ball on the table, and the idea alive.
Now, in a total insane, environment, that same ball might get enough pieces of plastic that it form a cube-something out of a total fun idea, has become a valid, reasonable idea, and a solution to business problems.
Companies that encourage the child in each employee, have greater chance at capturing success.
In any company, a sense of comfort and trust can be achieved when all employees know exactly what to expect regarding their responsibilities, and authorities. Here are some basic expectations, for employees, and the company, if a level of enjoyment at work is to be achieved.
1. Create a fair, equal and consistent environment
2. Challenge your employees
3. Pay close attention to employees in your company
4. Share, and exchange accomplishment and lack of it regularly
5. The bottom line? Never miss an opportunity to recognize employees for things they perceive as valuable and important.
If a child felt that each new addition to the environment was a potential threat, his or her degree of enthusiasm and creativity would be greatly reduced. Companies that create a safe, supportive environment for employees have a higher incidence of fun, and higher level of creativity and productivity.
To get you thinking about the outlet you can create, here are some wild, and crazy ideas.
â¢ Create an annual apple pie bake off
â¢ Organize a company sport tournament, i.e. Ping-Pong, Foosball, etc.
â¢ Create a recipe exchange as part of a monthly bring-a-treat-for-lunch activity
â¢ Plan dress-up or costume days on days other than Halloween
â¢ Create a Fabulous Friday program, with each department expected to plan, and execute an activity that will create a positive outlet for employees
â¢ Set up few days a year when employees are encouraged to bring their children to work
â¢ Create a wild day. Once each month select one name at random (all names are placed in a hat) from your employee list who will be given an extra day off. By the next day the employee must designate the day they will be off and that day will be called the wild day for that month. Once 75% of all names have had a day off, all names go back in the hat.
1. Creating Exciting Environments - Company outings are a great example of expanding and linking it to fun
2. Celebrate - Celebrate victories after big sales initiative, after landing a new client, upon the wrap-up of a successful project, or at the end of an exceptional busy day that went flawlessly, gather everyone together for a celebration to mark this special event.
3. Make the work environment interesting - If your work environment is unattractive, spruce it up. Periodically, ask local artists and musicians to visit your site at lunch time to work or perform as a diversion for your employees.
4. Get Physical - Encourage and support the efforts of employees who want to organize softball, bowling, tennis, basketball, volleyball, swimming, and boating activities.
Define The Culture
The culture of a company helps to define the level of support an employee will find within the organization. The day-to-day practice of this culture sensibility is the ultimate driving force for the success of the company
Have you ever heard of a company where many of the employees actually tattoo the company logo on their body? Has Harley Davidson a secret other companies should learn
1. Casual Dress Code - Casual dress codes encourage the shedding of inhibitions and help create a fun and stray-free environment
2. Warm Fuzzies - Create an emotional bond with employees to reaffirm their worth to both you and the company itself.
How To Make Work Fun
Use this simple checklist to determine if you are making your company a fun place to work with and for. If you are not, think about why not! If you are, how can you make it even more fun and productive for your employees, your company, and yourself.
3. Allow Mistakes
4. Mandate Vacations
5. Create Family Events
6. Support Outside Interests
7. Encourage Healthy Lifestyles
Here are a few points of advise on how to make work fun
- Don't be embarrassed by a fun environment
- Trust is one of the most important words for you to learn
- Don't overdue the fun
Bring your company into the community
Be aware that what you consider fun may be offensive to members of your team
Once you develop a plan to increase the fun factor in your company, you must keep it going.
And finally, make having fun part of each managerâs job description.
UNDERSTANDING LIENS AND GARNISHMENTS
This article explores what you need to do to enforce your claims...See more after you have gone to court to enforce a debt. It describes the operation of liens-claims against property of the debtor-and garnishments-a legal process of attaching the debtorâs property such as bank accounts, accounts receivable or wages to satisfy your claim.
Garnishments are typically used after youâve won in court and need to reach debtorâs assets.
WHAT IS A LIEN?
A lien is a legal claim that comes into effect by operation of the law. A lien attached to property and can create serious legal consequences. In many cases, a creditor who holds a lien can have property sold to satisfy the lien
Consequences of Liens
A lien is merely a claim until it is enforced. However, the mere presence of a lien can have serious consequences. For example, the presence of a lien attached to real estate will normally make the property unsalable until the lien is removed. Buyers normally want to avoid buying a property with a lien. For this reason a title insurance company will not insure the legal title of the property with an outstanding lien.
Execution If the owner did not pay off the lien, the creditor can force the matter be executing the lien and having the property sold. Although filing a lien is complicated, it is generally less complicated than going to court and suing. For this reason, the use of liens can be quite effective. Filing a lien vary depending on the state in which you live. You should consult a local attorney for help in enforcing a lien.
COMMON TYPES OF LIENS
There are number of common types of liens.
1. Property tax liens
2. Income tax liens
3. Mechanicâs liens
4. Artisanâs liens
5. Judgement Liens
Property tax liens are imposed by taxing authorities. Additionally, the state and federal government often attach tax liens when income or business tax go unpaid. The government can also execute against the property to have it sold after a statutory period of time.
In most states, a party who has rendered services or material to improve real property and has not been paid can normally attach a mechanicâs or artisanâs liens on the property. Generally, a lien can be imposed only on the property that is benefitted by the materials or service. In many states the lien attached when the materials and supplies are delivered, not when the lien is actually filed.
An Artisanâs lien is one that is imposed on personal property. Personal property is property other than real estate or things attached to it. Furniture, equipments, and vehicles are considered personal property. Like Mechanicâs Liens, Artisansâs Liens are designed to protect workers who render services and cannot easily recapture the value of their services.
A judgement lien is one that comes into effect after a party has won a lawsuit. However, the lien does not arise automatically; the winner must take affirmative steps for the lien to attach. Generally, you will need the services of a lawyer to properly record a judgement lien.
Forcing a Sale
The holder of a lien can enforce the lien and ultimately have the property sold. The proceeds of the sale would go first to pay the expenses of the sale, and then to satisfy the outstanding debt. If there is a deficit-if
the sale proceeds fell below the amount of the lien-the debtor normally would still be liable for the unpaid balance of the debt. Mere execution and sale of the property will not by itself extinguish a legal debt.
Sometimes there is more than one lien attached to property. This is the area covered by lien priorities. It can be messy, but it becomes more complicated if you need to find out if the debtor will be paying your bill. It is important to understand how lien priority rules operate.
Reconciling Competing Claims
The law provides a set of rules to impose some order in this process. Generally, the rule about priorities is âfirst in time, first in right.â The first lien to be filed takes priority over the others. In other words, the law protects the rights of those who act promptly! when liens are concerned, if you sit idly by, you may get left out when the debtor's bills are finally paid off.
Certain type of liens get higher priorities; in some states, mechanicâs liens and artisanâs liens relate back to the start of work, rather than the time the liens were actually filed. This allows the mechanicâs liens to go to the front of the line for payment. The special priority rule can be a great advantage to the tradesperson if other liens have been filed after the start of work.
Effect of a Bankruptcy Filing
The lien priority rules operate even after a debtor has filed for bankruptcy. In other words, even in bankruptcy the lien with most seniority will be entitled to recovery first.
The most important type of government lien is a tax lien. Tax liens are imposed by various levels of government agencies. Government liens are also imposed in connection with workerâs compensation claims. Government liens generally enjoys no special priority and must compete against private liens when the two conflict.
Liens and security interests compete against one another when they coexist. The resolution of this problem will hinge on the priority of the security interest verses the lien.
Necessity of Filing
A security interest is normally âperfectedâ by filing a document with the state called a âFinancing statement.â This is sometimes referred to âUCC Form.â However, when consumer goods are sold there is âautomatic perfectionâ without the need to file a financing statement. Consumer goods are goods valued at under $2,500 that will be used for personal, family, or household use. When consumer goods are sold, a security
interest will be considered to be perfected at the date of the sale. Accordingly, the security interestâs relative priority will be determined by the sale date.
WHAT IS GARNISHMENT?
A garnishment is a legal process in which a creditor attaches wither wages or a bank account from a debtor once a debt has been established. To protect the public, there are a number of legal restrictions involving wage garnishment.
Wages are garnished after a creditor has obtained a court order that orders an employer to pay a portion of an employee wages directly to the creditor. Obviously wage garnishments are effective only when a debtor is an employed individual. When a business debtor is involved, a wage garnishment will be ineffective. Another disadvantage of wage garnishments is that they are limited in amount by law.
FEDERAL RESTRICTIONS OF WAGE GARNISHMENTS
Because the obvious hardship imposed on the debtors, the Federal Consumer Credit Protection Act has established certain limits on how garnishments operate and also limits the amount of wages that may be garnished. Generally, the amount of wage garnishment may not exceed the lower of either of the following:
1. 25% of take-home pay
2. The amount by which the employeeâs weekly pay exceeds 30 times the highest current minimum hourly wage. An employer may not fire an employee whoâs wages are garnished. The Act also
prohibits employers from discriminating against an employee who have had their wages
GARNISHING BANK ACCOUNTS
A creditor with a judgement needs to execute against the debtorâs assets. This is not simple if the debtor want to protect the assets. Occasionally a sophisticated debtor will make garnishment impossible. A skilled debtor who loses a lawsuit will quickly change banks, emptying out old accounts, and will use cash machines in supermarkets to make deposits and withdrawals to keep the bank identity secret.
For this reason, creditors should always keep a copy of a customers first check. The check will have the customerâs name and address on it and will also have the name and address of the customerâs bank and all-important account number. Armed with this information, the garnishment will go much smoother for the creditor.
To find out more about how credit and collections works in the economy, and how to better manage the credit functions in your business, call us today at (661) 810-2446 or visit us on-line at www.azarandassociates.com