Turks and Caicos Real Estate

It is any real estate broker or investor’s dream to find a property surrounded by exotic flora, “baby blue water” beaches, constant sunny weather and tourism. Fortunately, there are many places around the world that follow these criteria however, the Turks and Caicos Islands are one of these places that seem to gain in popularity. Why is investing in Turks and Caicos real estate a topic that many people around the world are talking about?

The Turks and Caicos Islands are a combination of two island groups, The Turks Islands and the Caicos Islands. These Islands are located southeast of the Bahamas and south of Miami. They are abundant in amazing vegetation, flora and possess one of the largest coral reefs systems in the world. Not to mention that the climate is always sunny all year long. It is no wonder that the number of people that come to visit these islands represents more than 5 times their own population!

The population is just over 33,000 which are predominantly composed of African descendant people. The population is largely situated in the Caicos Islands due to its share in area (it occupies 82% of the land area). In these Islands we find the Providenciales which is the main urban area of the Turks and Caicos. It is also the area where most of the tourists visit and presents great opportunities in creation of businesses and real estate. Despite this, there are many surrounding islands including the Turks islands that are very low in population or even vacant. These areas truly give opportunities for people to build homes where they simply do not want to be disturbed by cities.

Another interesting fact is that there are no income taxes. This is absolutely heaven for business owners, investors or people who simply want to buy real estate because they get to keep more money in their pockets by not paying any tax! Not to mention that the currency used in the region is US currency. This is why there is a trend of more and more US citizens and even Europeans going to settle there to either settle or take advantage of its business opportunities.

If you are a real estate broker or investor and have some change, the Turks and Caicos real estate market is definitely a market to consider because it is getting more popular by the day.

How to Start a Home Based Online Business

Filled with excitement, energy, and a bit of fear, new marketers launch into a vast arena where contestants battle for the attention of prospects. Then they recoil at the daunting task of learning the technologies and the methods of internet marketing success. Set yourself apart from the competition at the very beginning by paying heed to these four foundational elements for starting a new home based online business.

First, Get Your Head in the Game

Take it seriously. You’ve heard this before: Treat your business like a hobby and it will cost you like a hobby; treat it like a business and it will pay you like a business. Establish a business routine and stick to it (except when it needs improvement). Focus on the high-ROI activities first. Plan each day and work the plan. Minimize distractions. Cut wasteful spending of time and money. If it is not revenue-generating activity, question why you are doing it. Bottom line: treat your business like a real business and not like a hobby.

Decide Now to Persevere. In my corporate career I hired many employees – maybe not numbering in the hundreds, but at least half of that. I can guarantee you that I never ever hired a person who said, “I will give this a try and see how it goes”. And I bet dollars to donuts that you would never hire an employee who had that attitude. So look in the mirror and ask if you would hire yourself with a “see how it goes” mindset. How about a sports metaphor: “Put me in, Coach, and I’ll see if it works out”. If you want to do a test-drive, go to your local car dealer. If you find that you can’t shake the “see how it goes” mindset, you are not ready. Stay at your job until the fire in your belly burns away that chaff and forges the “I will be successful” attitude of determination.

Be Patient. I’ve never met the college student who got frustrated that he wasn’t making an income before graduating from college. Why? Because he does not expect a company to take on a risk by hiring him until he has his degree in-hand. But it is the nature of the network marketing business that many people expect to plug in and start making money from day one. And instead of filtering out the get-rich-quick junkies, most marketers flood the internet with offers that play on the desire to get the itch scratched with little effort or investment required. Remember that a business that will be sustainable and have longevity will take time to ramp up. Be patient.

Second, Do Your Due Diligence

Research Company Basics. Ever meet a get-rich-quick junkie who did an appropriate amount of research? They do lots of internet surfing, but no real research. There is a big difference. Surfing is like walking down the supermarket cereal aisle looking for a flashy wrapper. Research is picking up the box and evaluating the contents. Sure, conducting research can be exhausting, but what is the alternative? Elements that should be considered include the company’s history and track record; the level of training and support available to marketing consultants; setup costs and recurring maintenance fees; face-to-face events where consultants interact with company leaders and top earners; the impact the product has in the lives of customers. There are more, but these are the essentials.

Set Up Your Business Right. Highly reputable companies will have an established process for getting started. They will have orientation materials, intermediate training, and advanced courses, and an array of live business calls and webinars and recordings. Plug into the training and learn as much as you can in order to be of value to yourself and to others. Sage advice: don’t reinvent what already exists; it will waste your time and energy. And by the way, if your company does not have these basic materials, do not follow their example. Instead, plan on becoming a leader by creating and providing these materials for your team members.

Third, Set Your Expectations

With all the data gathered from the research, right from the start, seek to achieve clarity on your expectations and the roadmap for achieving your goals. Frustration and discouragement – and there is plenty of this in every form of business – will be minimized when you calibrate your expectations. This is not to say that goals should not be set up high among the stars. But expectations of the speed and trajectory of reaching those goals should be realistically matched to the business model. For example, the profit margin on nutrition products will be vastly different than the margin on high-end wealth education products. The size of your team and the volume of product you move will impact how quickly you get to positive cash flow. Base your expectations on the realities of your business model.

Fourth, Establish Your Insider Support Group

Recently I received an out-of-the-blue phone call from a woman, whom I will call Carol, who has a business with an MLM nutrition company. Carol was bewildered by the back-office website and she did not know where to turn for help and support (her previous sponsor had left the company). Being unfamiliar with her company and product, but knowing that I could figure out what was happening, I logged into her back office with her and walked through the details of her account. In the end we solved the problem, we got her connected to a new sponsor in her company and she is now back up and running.

Carol needs an insider support group for encouragement, for support, and for master-minding. The impact on her and her business of not having such a group was huge – she was floundering and her $5K income had dwindled because she did not know the mechanics of the new version of her back office. With few possible exceptions, top leaders all utilize a mastermind group for their success. Once experienced, a mastermind support group quickly becomes a must-have element of every business leader. Do not try to do it without one unless you have lots of time and energy and money to waste.

These four elements – getting your head in the game, doing your research, establishing expectations and creating a mastermind group – are essential for launching a home based online business. Set off in the right direction and enter the arena well ahead of all the competition.

Causes of Business Failure – Highly Personal Factors

We all want success but some want it more than others and are willing to put up the extra energy to reach goals despite the hassles, odds against, roadblocks, dangers, pitfalls, and/ or controversies that may cause failure of the business. Sometimes business people are their own worst enemies and the leading causes of their own business failure.

Failure, however distasteful, can be based on many factors that are within the direct control of every business owner. Here are some of the most important ways business people fail:

Real or Perceived Threats to the Self

Anyone on a mission – activist, reformer, leader, salesperson, etc. – will at some time feel threatened in some way. I remember writing a letter to the editor on a local cause and feeling rather shocked at receiving a direct phone call from a stranger about the issue – luckily he was a supporter. I didn’t write another letter for a while. Threats of any kind or intensity can cause people to back off, hesitate, or walk away from doing something important. The flames of passion and willpower to succeed at a business can be easily doused by threats. Remember, life is like licking honey from a rose.

Lack of Technical Skills

If anyone is going to run a business, it is important to know what one is doing. Watch the TV show “Kitchen Nightmares” to see how incompetent some people are in running restaurants. A lack of knowledge and technical abilities in running a business can very quickly cause failure. It becomes very expensive when machines can’t be adjusted, accounts can’t be handled properly, repairs can’t be made, the place becomes cluttered and unmanageable. There is a big difference between I know and I think I know.

Personality Factors

There are people that get into businesses that are just not suited to their personalities. Wanting something isn’t enough. Greed is often the wrong approach. Lack of patience and poor social skills can lead to poor relationships with employees who are then less motivated to work hard. Your personality can actually drive away customers and cause trades people to steer clear of your business. Square pegs are often hard to drive into round holes.

Inherent Tragic Flaw

In many cases, people have something intrinsically inside of them that causes failure. They aren’t aware enough or experienced enough or miss a key component in their business plan, product, or service. Despite imminent failure and recognized bad timing, they reinvest in a needless or obsolete technology. “Pride goeth before the fall” and so does arrogance. Some business people are too trusting, too laid back, poor handlers and investors of money, subconsciously failure oriented, poor communicators, weak leaders, and overly proud to get help. Tragic personal flaws – we all have them – can be a direct cause of business failure. Remember Shakespeare’s Shylock or Julius Caesar.

Irrational Fear

A sudden hesitancy and fear in business decisions can cause freezing and inaction. There is worry that despite all the positives, the project might still fail. Not now; do it at a better time. Some people are afraid of success as much as they are of failure. They fear the thought of potentially great success and all the work that will have to go with it. They would rather stick with the old and proven, a fear of being seen as weak leads to less than best business practices. Inventors, for example, may have one or two cherished inventions that are kept secret. It never gets into the marketplace because they are afraid someone will steal their idea. Whether you think you can or you think you can’t, you are always right.

Lack of Important Survival Skills

Some business people believe that because they want profit, gain and success that it has to happen if they just push more money at the problem. They fail to prepare themselves – financially, in attitude, physically – for economic down times, bad months, illness, and other unforeseen calamities. The following are missing survival skills that cause businesses to fail: lack of a reserve fund to help ride out a bad spell, inability to cut overhead quickly, reluctance to live and operate at a lower level of performance, lack of a cushion of financial and business success before buying luxury items, reluctance to reduce spending and consumption when necessary, failure to establish a diverse base for sale of goods or services so that income will not be devastated if a sector of clients/customers is lost, prideful reluctance to get desperately needed help from others. A phenomenally high percentage of Canadian trade is solely with the USA. Businesses and even countries can fail when important survival skills are ignored, missing or weak.

Lack of Someone to Look Up To

There are always people who have succeeded in the kind of business you run. Not learning from them is ridiculous. Why not find out who they are and how they succeeded. Don’t be a legend in your own mind, especially if you know you aren’t one. Lawyers never defend themselves because they would have a fool as a client. Heroes and go-to people are important, motivational and can help business people re-energize and avoid failure.

Perceived Personal Weaknesses

“I never was very creative.” “I’m not very good at marketing.” “I never knew how to do it and I’m too old to start now.” “I can’t learn computers at my age.” “I’m only good at a few things.” “It’s too hard to learn to do it. I work around it.” It is never too late to improve in many ways. These “words of losers” cause business people to fail.

Perceived Lack of Education

Some business owners work their way slowly up the ranks to power positions. Some may have missed out on formal education and feel somewhat inferior when in the company of people with all kinds of degrees. An education comes in many packages – school of hard knocks, street wisdom, formal book learning, experience. It is possible to go to all of these schools.

Emotional Immaturity

Businesses fail because there are people who do the following: blame others instead of taking ownership of failures, get arrogant and puffed up when confronted with errors, focus on the problem and laying blame instead of the solution and helping someone save face, nurture thin skin and fragile egos, believe that fate or others are the causes of their shortcomings and weaknesses.

Desire to Conform to the Norms of Society

There are business people in sales who will do things only by the book. There is no risk-taking or playful experimentation to do things differently. Businesses that are on the brink of failure often continue doing the same things that took them to the brink in the first place. Norms are just guidelines.

Lack of Insight

Despite all efforts, there are people who just don’t get it and never will. Failure is imminent. Despite countless people offering warnings and sound advice, some people still miss the message.

Misconceptions about Self, Others, Life

Here are a few sayings business people should pin up on a bulletin board as a reminder of realities: “If ever they discover the center of the universe, there will be many people who will be very disappointed that they aren’t in it.” “Thank God there are so many people on Earth. It gives us all more opportunities to blame others for our own shortcomings.” “If I can’t take it with me, I’m not going.” “We don’t own anything. We are just caretakers of the Earth.”

Inability to Manipulate or Bring about Change

If a business owner cannot bring about change in staff or procedures, the business is often doomed. Changes sometimes need to be made very quickly despite the stress. Apathetic employees, stagnant databases, continuing to use old and obsolete practices and equipment, and a lack of drive or initiative are leading causes of business failures.

Lack of Group Solidarity

A team gets more done than individuals. If people aren’t in the same frame of mind, there will be sabotage if new practices and approaches are introduced. Toxic people and cliques can cause a business great strife. Mavericks, loners and loose cannons produce resentment and lowered business productivity. Which of the following apply to your office? All for one. One for all. Everybody for themselves?

Influence of Others

When other people are jealous, ignorant, overly forceful or greedy, business owners can often get bad advice. Persistent urging, cajoling, repeated influential discussions, and arguing can cause business owners to give in and make bad decisions. Too much trust in customers/clients/suppliers can lead to financial difficulties, bad investments and bankruptcy. Over extending credit to people with sob stories can cause ruin. Companies lay out millions of dollars on TV advertising because IT WORKS.

Rigidity of Thought Processes

Some long-term business owners get very set in their ways. They don’t like anything new. They think back to the good old days when the business was great and fail to learn newer and perhaps better methods and procedures. Many older business owners can be very limited in their use of computers and the internet and therefore fail to see new ways of generating business using different kinds of technology.

Negative Thinking about the Self

When business people believe themselves to be incapable of whatever, there is a greater chance of failure. Consider these forms of negative thinking that can cause great business problems and failure: emphasis on limitations instead of strengths, lack of self-confidence, a feeling of unworthiness, a sense of gloom and doom about personal abilities, belief that one can’t do something because it is too difficult, whatever effort is made won’t be enough, everybody else can do it better, belief that a job can’t be done in a better or more efficient way, belief that one deserves only success, belief that anything attempted will probably fail anyway.

Fear of Rejection or Criticism

Holding oneself back from making important decisions because of what others might think will limit the growth and stability of a business. All business people should get a recording of an old Ricky Nelson song “Garden Party” and listen carefully to the chorus. “You can’t please everybody, so you got to please yourself.” Make the following words into a sign to post in key locations at work: “How to avoid criticism: Say nothing. Do nothing. Be nothing.”