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Money Has a Cost

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When I speak about the “cost of money” I am talking about just that. Allow me to explain it here to avoid boring you by repeating the same definition whenever I talk about it. All money has a cost

Money is either used to make you money or you have lost the opportunity for your money to make you money. Or at least to make you as much as it could.

If you are borrowing money to operate your business this money has a price. The price, of course, is the interest you are paying on the money while you are borrowing it. If you have money that you are holding in the form of cash in a low interest bearing account or short term investment, this money may also be costing you money.

How? Simple. Let’s say you are in a good cash flow situation and you have a cash balance of $50,000. You know this money will be needed for operational expenses in the near future so you let it sit in your business checking account or a short term liquid investment account. Let’s say you are earning 1/2% interest during this time.

It might seem that this money is working for you making you money, and indeed it is. But the question is whether or not this is the most effective use of that money. If your money is in one place it cannot be in another at the same time. Obvious right? Well, if your money is tied up in the bank you must ask yourself – is this the best place for it? Is there another use you could put this money to in order to earn more money?

For example, can you pay some bills off early and take a trade discount of 2%. I will cover this in future articles but for now think and understand money has a cost. If your $50,000 sits in the bank earning 1/2% interest you will earn $250 per year. Now I know I have not factored in compound interest but I want to give a simple example of how you should think.

If you have the cash sitting for 30 days you will have earned 1/12th of this $250 or $21. But what if you had used that $50,000 to pay off bills early and get a 2% discount? A 2% discount on $50,000 is $1,000. A simplistic example to be sure, but even using this you have increased the return on your money significantly.

Leaving your money in the bank had a cost to you. A lost opportunity cost. An opportunity to use this money to make you more money. But you must consider your cash flow, no matter how effectively you might otherwise use your money, you only have so much of it to use and therefore the availability of cash must be considered.

Money does have a cost. If I have used $10,000 to pay an invoice early that offered me a 1% discount I have saved $100. If I used that same money to pay a bill early that offered me a 2% discount I have doubled my return on the use of that money as I have saved $200.

Do you see my point? Now put aside any cash flow questions for a minute while I make another

point.

Now what if I did not pay any bill off early, but instead put that $10,000 in an investment for 12 months paying me 1%? Have I not done well by earning $100 on my money? It would seem so, but this is not the case.

By paying off an invoice early to take advantage of an early payment discount, you will save much more than the discount. When you earn a 2% discount by paying an invoice early, you are earning a return far greater than 2%. Unless you understand this there will be no way you can properly determine whether the best use of your money is to pay the invoice off and take the discount or not.

The formula is simple so don’t despair. Here is the formula:

365 x discount rate

Effective annual interest = —————————————

Number of days payment must be

made ahead of the due date to earn this discount.

So if a supplier offers you terms of “2/10 net 30” what is the effective rate of interest? Well, first

of all, he is offering you a 2% discount if you pay in 10 days. The normal terms are 30 days. This

means that to get the 2% discount you must pay 20 days early.

For this example we are assuming that you would normally comply with the 30 days terms.

For the sake of this example let us say the amount of the bill in question is the same $10,000 we have been talking about. This is what your formula looks like:

365 x.02

Effective annual interest = ————– =.365

20

Your effective annual interest rate is 36.5%. Obviously, even if you had to borrow the money to pay off this invoice your rate of return will be well worth it.

Do not think I am suggesting paying off discounted invoices as the only option you want to look at. I have simply chosen this often overlooked strategy as an example.

You must always consider all your options for using your money. The goal is to seek out the most profitable option available to you at any given time.

Never forget that money has a cost. How you use it can make a great deal of difference to your bottom line.

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Source by Derrick Welch

Views: 0

November 10, 2022
Entrepreneurs Need ONE Thing To Succeed – Survivability

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The idea of being an "entrepreneur" is the new "rock star" – millions of young people going off the beaten track in order to try and secure a better future for themselves or their families.

Fuelled partly by the Internet and partly by a changing economic landscape, the young of today are more focused on themselves than ever, unwilling to take "menial" jobs at the likes of McDonald's; instead taking on large amounts of student debt in order to secure as lucrative career as possible.

It's in the midst of this tectonic shift (where barriers-to-entry have been eroded massively, and the world opened up for business) that many have placed "entrepreneurship" … the idea of "working for yourself". Unfortunately, it's most a lie.

If you're interested in this type of thing, the first thing you need to realize is that entrepreneurship is a lifestyle, not a vocation. Most people are not "entrepreneurs", they're merchants (buy and sell products).

REAL entrepreneurship is about doing / building something that's NEVER been done before. This might be something simple (a new flavor of soft drink), or something as difficult as getting humanity to Mars. It is NOT about "selling" products for the sake of it.

What many see as a "choice" between a Dystopic future of student debt, mortgages, auto loans and 40+ years of 9-5, is in fact fraught with the utmost danger and risk. The biggest problem is that no one will help you. You're 100% on your own.

In other words, don't become an "entrepreneur" … you have to either be "born" one (which isn't strictly true), or be so utterly determined to see your ideas come to fruition that you're willing to risk your life on making it work.

This is what most people don't see. They see the accolades, cars, success – they don't see what goes on behind the scenes. It's because of this that I wanted to write this article.

Angela Lee Duckworth called it "grit", Elon Musk called it "chewing glass and looking into the abyss of death" … the one thing that anyone looking to bring their ideas to life is survivability – the ability to persist even when everyone else has either quit or been killed.

Every time you look back through history, at the * true * entrepreneurs … the Galileo's of the world; Magellan's; Sir Francis Drakes … we see the same pattern every time. A world-defining event that THEY survived. This was then brought to the market in some form or another, transforming the way that people live and are able to operate.

What most people think of as "entrepreneurship" … starting a "blog", running a "social media" account or some other menial achievement … is nothing worthy of note.

It doesn't * do * anything. It's paper pushing.

To "become" an entrepreneur is very simple.

Shut up and get to work. Most make the error of telling everybody what they're doing. Not only is this a mistake, but kills and chances of actually completing the task you set out to perform. Move in silence.

In terms of what you "do", this is also simple – focus on completing a task that pays you money. Don't worry about changing the world or anything up front, that comes later. Just get your head down and focus on making more money than the other guy, by producing the * best quality work * you can.

Imbue EVERYTHING you do with excellence – reaching to your highest possible potential to pull it off. This is what it takes to become successful.

What's interesting is if you do this, you end up finding opportunities that come out of the blue. They just appear without actually being forced in any way, allowing you to then develop "systems" which can be used to elevate your work to a new level.

It's these systems which end up being the hallmark of an entrepreneur – having the insight to create * new * systems gives you the ability to continue on your upwards spiral. It's also where the "best" entrepreneurs begin to shine – they typically are dogged enough to understand that putting a "system" out into the world is – by far – the most important aspect to achieving growth in life. This is where the "grit" element comes from.

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Source by Richard Peck

Views: 0

November 10, 2022
Advanced Affiliate Marketing Techniques

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When choosing affiliate products to promote with your Internet marketing business, you want to pick products that cost more so that you make a higher commission per sale.

But you also want to have a whole range of products at different price points so you can keep people buying no matter how much or how little money they have.

For example, let's say you pick self-help as your niche. You should have a bunch of products that cost less than $ 10 – such as eBooks or video courses – because a lot of people seeking to improve themselves don't have a lot of money but still want to buy something that will make them better people.

The 'Profit Ladder'

Then you should have more expensive products in the $ 10 to $ 100 range so that you can offer them to people with more money to spend and also push your customers up the profit ladder. That means getting people to buy increasingly expensive products.

Then you should have some products that are really expensive, such as those that cost $ 1,000 or more. This is to appeal to people who have a lot of money to spend but also to have a big money offer that people can aspire to. A lot of times these types of products are things like personal coaching, or seminars people can attend to become masters at whatever it is they want.

Big money products not only satisfy people's desire to get the best there is, but also provide you with the biggest commissions so you can make the most money even if you only make a few sales.

Niche Statistics

Popularity of Niches

Before you start promoting affiliate products, you want to make sure the products or the niches you choose to work in are popular. You don't want to waste your time working in niches that there aren't a lot of customers. Instead, maximize your potential revenues by only working in the best niches that have scads of customers.

So how do you find out what niches are popular? Like anything else these days, you simply use the internet. There are plenty of places you can go to measure the popularity of a particular niche. The first place I always recommend is Google Hot Trends which lists the top 100 searches on Google during the previous 25 minutes.

Researching Niche Statistics Online

Google is the largest search engine and is used by more people than any other, so it is a reliable source to tell you what is hot at the present moment. Another site is Yahoo Buzz, which shows also shows the top searches but on Yahoo, which uses the Bing search engine. But Yahoo Buzz also gives a little more information than Google.

Two other similar sites are Trend Hunter and Trend Watching. These are more geared toward consumer goods, such as electronics, appliances and other hard goods rather than digital products, which are what you probably will be promoting.

Sources for Niche Data

ClickBank has a lot of information about the products it offers. A similar site that also has lot of data you can use to measure popularity is Commission Junction.

With the affiliate products you promote on ClickBank and Commission Junction, you make a commission every time somebody clicks through and buys that product.

'Cost Per Action'

But another affiliate model is called "Cost Per Action". This is slightly different because you can get paid every time somebody clicks through to a page whether they buy anything or not. Obviously, the CPA amount you are paid is usually less than that of a sales commission, but a lot of CPA click-throughs can quickly add up and make you some real money.

CPA networks for you go check out include Peerfly.com, ShareASale.com, GoOffers.net and CPALed.com.

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Source by Sohan Miah

Views: 0

November 9, 2022
Successful Entrepreneurship – Cracking the Code

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We've heard stories of penniless immigrants who came to Canada with nothing but a dream, but within a single generation accumulate a lot of wealth. How do they do it?

This is a mystery to the typical person who graduates with a post-secondary education and goes on to work in the labor force as an employee (ie, most people!). This is because our educational system specifically trains its students to become employees rather than entrepreneurs.

So when we hear about these rags to riches stories, we ask ourselves – "how did they do it?" As someone who grew up in an entrepreneurial household, here is my take on Cracking the Code to Successful Entrepreneurship:

1. In most cases, one will never become truly financially independent working as an employee. Whether you are an entry-level bookkeeper or the CEO of a large organization, you can be unexpectedly fired at a whim by whoever you report to. You are therefore susceptible to financial catastrophe.

2. Therefore, the only way to achieve financial independence is to build and maintain a successful business.

3. There is a "magic formula" that will allow to evaluate a businesses' odds of success:

[( Sale price of product – Variable cost of product) x Units sold] – Fixed Overhead Costs = Profit

This formula will be very familiar to accountants – it's called the Contribution Margin Ratio.

Let's demonstrate this formula using a Bubble Tea business. Wonder why there are so many Bubble Tea shops in Toronto? Because they make a heck of a lot of money with little risk:

Price per bubble tea drink – $ 4.00

Cost to make per drink (water, powder, sugar) – $ 0.50

Drink sales per month assuming 100 sold per day – 3,000

Monthly rent for shop – $ 3,000

· Assume no labor costs – in the early years, the owners will work the shop themselves

· [($ 4.00 – $ 0.50) x 3,000] = $ 10,500 in sales

· Profit after paying rent: $ 10,500 – $ 3,000 = $ 7,500

Once you apply this formula to the multinational soft drink companies to analyze their beverage businesses, you can begin to understand why soft-drinks companies have grown from humble beginnings to global companies they are today.

You can also use this formula to evaluate almost any small business you might be thinking of getting into: restaurant, nail salon, hair salon. You should quickly realize that it's best to choose businesses with a high profit margin (ie, high selling price for produce / service and low cost of supplying the product / service) and high customer traffic (ie, units sold, people serviced).

Seeing the Future – Cash Flow Projection

You want to know if you'll be making a profit before going any further. If you skip this step, your chances of failing increase significantly.

Investigate your costs to start up and run your business. The most common are:

· Rent – how much will it cost to rent at the location where you want to set up?

· Wages and payroll tax – will you need employees or can your run the business yourself? How much do you need to pay yourself to meet your personal living costs?

· Advertising costs – what types of advertising will you use – TV, radio, internet – and what is their cost versus their potential return on investment?

· Cost of inventory or raw materials – will these be imported? If yes, you'll need to factor in the impact of exchange rates on your profitability.

· Purchase of equipment – general office equipment like a phone system, computers and IT network, and furniture, as well as specialized equipment for your specific line of business like restaurant equipment (if you're opening up a restaurant).

· Business liability insurance – to protect yourself from liability if someone is inadvertently harmed by your product or service, or if someone is injured on your premises.

· Pricing – how much will you be able to sell your product or service so that's it's competitive with others in your line of business

Once you've figured out your monthly costs (ie, your overhead) and pricing, you're now in the position to determine how many unit sales you need to make to breakeven – remember the Contribution Margin Ratio that we looked at. Use a spreadsheet to build a cash-flow projection model.

Protecting Yourself – Creditor Proofing

If things don't work out for your business you could be financially ruined. Therefore, consider the following techniques to protect your personal assets from your business creditors.

1. Incorporate the business. This will provide you with a level of creditor protection – most of a corporation's obligations are limited to its assets so this structure can provide protection for personal assets. This structure also has income tax benefits, which will not be discussed here.

2. Always pay statutory debt on time, specifically:

· Payroll source deductions;

· Federal and provincial sales tax collected; and

· Employee wages and vacation payable.

Corporate directors can be personally responsible for these debts, notwithstanding that the business is incorporated. In many incorporated small businesses, the shareholder (ie, the business owner) and director are the same person.

3. If you can, avoid giving personal guarantees of your corporation's business obligations (eg, landlord, suppliers) unless it is absolutely necessary.

You will need a financial expert on your team to deal with the issues raised in this article. Therefore, I would strongly advise that you contact a CPA who can help you further.

For all you aspiring entrepreneurs out there, I hope that I've helped take out some of the "mystery" behind successful entrepreneurship. Use this tool wisely and never stop dreaming!

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Source by Victor Fong

Views: 0

July 29, 2022
Plannet Marketing Review – Is This Travel Company The Real Deal?

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So lately, I’ve been getting a few messages about a new Travel-based Network Marketing company called Plannet Marketing. And chances are if you’re reading this, you’re probably thinking about joining and you’re doing some last minute research on the company. If that’s the case, then look no further. In this Plannet Marketing Review, I’ll cover all the essential details you’ll need before you join. With that said, I do want to disclose that I am not a Plannet Marketing distributor. In all honesty, it really doesn’t matter to me one way or the other if you join so you know you’ll be getting a truly unbiased review.

Who Is Plannet Marketing?

Plannet Marketing is a company that sells travel through a Network Marketing business model. The company is based out of Atlanta, Georgia and as of this writing Plannet Marketing is just over 6 months old. The company was founded by Donald Bradley, formerly of YTB and Paycation Travel. Bradley brings with him 20 years of experience in Network Marketing. Before starting Plannet Marketing, Bradley was the Master Distributor and #1 Income Earner in Paycation Travel. He literally had everyone in Paycation in his downline and was responsible for bringing in the company’s top leadership group. I’m not sure what happened, but around the time Craig Jerabeck and Barry Donalson left 5linx and joined Paycation was the same time Bradley decided to leave. Maybe he didn’t feel good about those guys joining and being sponsored by the company when he was the Master Distributor. Who knows? And who really cares? Regardless of the reason, it looks like Bradley was willing to walk away from everything he built to start from scratch again. Overall, the company looks pretty solid. And while it’s too early to tell if they’ll even be around for the long haul because they’re only a few months old, Bradley and the other members of the Corporate team bring a ton of experience in Network Marketing and Travel, which is a good thing.

How Do You Make Money With Plannet Marketing?

The actual compensation plan provides several ways for distributors to get paid. But the crown jewel of the compensation plan is the 3X9 Matrix. With a Matrix model, it’s critical that you get a spot early on if you want to capitalize on spillover. If you’re positioned underneath a strong builder, you can benefit from their efforts as they place people under you while they’re filling up their Matrix. With a fully filled 3X9 Matrix, you’ll have 29,523 distributors underneath you. If they’re all active and you get $4 monthly from each distributor, you can make up to $118,092 monthly. In addition to your Matrix pay, you can also earn a 10% Match on the Matrix pay of your personally sponsored distributors.

In addition to the Matrix, the company provides monthly bonuses to Directors. Here’s a simple breakdown of how the Director bonuses work:

1 Star Director – 100 active distributors – $500/month

2 Star Director – 300 active distributors – $1,000/month

3 Star Director – 500 active distributors – $2,000/month

4 Star Director – 1,500 active distributors – $5,000/month

5 Star Director – 4,000 active distributors – $10,000/month

6 Star Director – 10,000 active distributors – $16,000/month

7 Star Director – 25,000 active distributors – $30,000/month

8 Star Director – 50,000 active distributors – $50,000/month

9 Star Director – 100,000 active distributors – $100,000/month

Between the Matrix Pay, the 10% Match on your personals and the Director Bonuses, it’s pretty clear that there’s plenty of money on the back end. If you’re a strong team builder and you have a knack for creating good culture, Plannet Marketing might be a very lucrative opportunity for you.

Should You Join Plannet Marketing?

Well, only you can truly answer that. The company certainly looks solid. Travel is a very marketable service that’s easy to talk about. And the compensation plan is generous and lucrative. All those things together should guarantee success, right? Unfortunately, nothing could be further from the truth. At the end of the day, it is your ability to sponsor people into your business on a consistent basis that will lead to your success. This is why I recommend that you learn Attraction Marketing. If you can position yourself in front of prospects that are already looking for what you’re offering, you’ll have no problem getting leads online. And if you have an abundance of quality leads, there’s no telling how successful you can be.

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Source by Jaime Soriano

Views: 0

July 28, 2022
Trading and Profit and Loss Account

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Trading Account

As already discussed, first section of trading and profit and loss account is called trading account. The aim of preparing trading account is to find out gross profit or gross loss while that of second section is to find out net profit or net loss.

Preparation of Trading Account

Trading account is prepared mainly to know the profitability of the goods bought (or manufactured) sold by the businessman. The difference between selling price and cost of goods sold is the,5 earning of the businessman. Thus in order to calculate the gross earning, it is necessary to know:

(a) cost of goods sold.

(b) sales.

Total sales can be ascertained from the sales ledger. The cost of goods sold is, however, calculated. n order to calculate the cost of sales it is necessary to know its meaning. The ‘cost of goods’ includes the purchase price of the goods plus expenses relating to purchase of goods and brining the goods to the place of business. In order to calculate the cost of goods ” we should deduct from the total cost of goods purchased the cost of goods in hand. We can study this phenomenon with the help of following formula:

Opening stock + cost of purchases – closing stock = cost of sales

As already discussed that the purpose of preparing trading account is to calculate the gross profit of the business. It can be described as excess of amount of ‘Sales’ over ‘Cost of Sales’. This definition can be explained in terms of following equation:

Gross Profit = Sales-Cost of goods sold or (Sales + Closing Stock) -(Stock in the beginning + Purchases + Direct Expenses)

The opening stock and purchases along with buying and bringing expenses (direct exp.) are recorded the debit side whereas sales and closing stock is recorded on the credit side. If credit side is Jeater than the debit side the difference is written on the debit side as gross profit which is ultimately recorded on the credit side of profit and loss account. When the debit side exceeds the credit side, the difference is gross loss which is recorded at credit side and ultimately shown on the debit side of profit & loss account.

Usual Items in a Trading Account:

A) Debit Side

1. Opening Stock. It is the stock which remained unsold at the end of previous year. It must have been brought into books with the help of opening entry; so it always appears inside the trial balance. Generally, it is shown as first item at the debit side of trading account. Of course, in the first year of a business there will be no opening stock.

2. Purchases. It is normally second item on the debit side of trading account. ‘Purchases’ mean total purchases i.e. cash plus credit purchases. Any return outwards (purchases return) should be deducted out of purchases to find out the net purchases. Sometimes goods are received before the relevant invoice from the supplier. In such a situation, on the date of preparing final accounts an entry should be passed to debit the purchases account and to credit the suppliers’ account with the cost of goods.

3. Buying Expenses. All expenses relating to purchase of goods are also debited in the trading account. These include-wages, carriage inwards freight, duty, clearing charges, dock charges, excise duty, octroi and import duty etc.

4. Manufacturing Expenses. Such expenses are incurred by businessmen to manufacture or to render the goods in saleable condition viz., motive power, gas fuel, stores, royalties, factory expenses, foreman and supervisor’s salary etc.

Though manufacturing expenses are strictly to be taken in the manufacturing account since we are preparing only trading account, expenses of this type may also be included in the trading account.

(B) Credit Side

1. Sales. Sales mean total sales i.e. cash plus credit sales. If there are any sales returns, these should be deducted from sales. So net sales are credited to trading account. If an asset of the firm has been sold, it should not be included in the sales.

2. Closing Stock. It is the value of stock lying unsold in the godown or shop on the last date of accounting period. Normally closing stock is given outside the trial balance in that case it is shown on the credit side of trading account. But if it is given inside the trial balance, it is not to be shown on the credit side of trading account but appears only in the balance sheet as asset. Closing stock should be valued at cost or market price whichever is less.

Valuation of Closing Stock

The ascertain the value of closing stock it is necessary to make a complete inventory or list of all the items in the god own together with quantities. On the basis of physical observation the stock lists are prepared and the value of total stock is calculated on the basis of unit value. Thus, it is clear that stock-taking entails (i) inventorying, (ii) pricing. Each item is priced at cost, unless the market price is lower. Pricing an inventory at cost is easy if cost remains fixed. But prices remain fluctuating; so the valuation of stock is done on the basis of one of many valuation methods.

The preparation of trading account helps the trade to know the relationship between the costs be incurred and the revenues earned and the level of efficiency with which operations have been conducted. The ratio of gross profit to sales is very significant: it is arrived at :

Gross Profit X 100 / Sales

With the help of G.P. ratio he can ascertain as to how efficiently he is running the business higher the ratio, better will be the efficiency.

Closing Entries pertaining to trading Account

For transferring various accounts relating to goods and buying expenses, following closing entries recorded:

(i) For opening Stock: Debit trading account and credit stock account

(ii) For purchases: Debit trading account and credit purchases account, the amount being the et amount after deducting purchases returns.

(iii) For purchases returns: Debit purchases return account and credit purchases account.

(iv) For returns inwards: Debit sales account and credit sales return account

(v) For direct expenses: Debit trading account and credit direct expenses accounts individually.

(vi) For sales: Debit sales account and credit trading account. We will find that all the accounts as mentioned above will be closed with the exception of trading account

(vii) For closing stock: Debit closing stock account and credit trading account After recording above entries the trading account will be balanced and difference of two sides ascertained. If credit side is more the result is gross profit for which following entry is recorded.

(viii) For gross profit: Debit trading account and credit profit and loss account If the result is gross loss the above entry is reversed.

Profit and Loss Account

The profit and loss account is opened by recording the gross profit (on credit side) or gross loss (debit side).

For earning net profit a businessman has to incur many more expenses in addition to the direct expenses. Those expenses are deducted from profit (or added to gross loss), the resultant figure will be net profit or net loss.

The expenses which are recorded in profit and loss account are ailed ‘indirect expenses’. These be classified as follows:

Selling and distribution expenses.

These comprise of following expenses:

(a) Salesmen’s salary and commission

(b) Commission to agents

(c) Freight & carriage on sales

(d) Sales tax

(e) Bad debts

(f) Advertising

(g) Packing expenses

(h) Export duty

Administrative Expenses.

These include:

(a) Office salaries & wages

(b) Insurance

(c) Legal expenses

(d) Trade expenses

(e) Rates & taxes

(f) Audit fees

(g) Insurance

(h) Rent

(i) Printing and stationery

(j) Postage and telegrams

(k) Bank charges

Financial Expenses

These comprise:

(a) Discount allowed

(b) Interest on Capital

(c) Interest on loan

(d) Discount Charges on bill discounted

Maintenance, depreciations and Provisions etc.

These include following expenses

(a) Repairs

(b) Depreciation on assets

(c) Provision or reserve for doubtful debts

(d) Reserve for discount on debtors.

Along with above indirect expenses the debit side of profit and loss account comprises of various business losses also.

On the credit side of profit and loss account the items recorded are:

(a) Discount received

(b) Commission received

(c) Rent received

(d) Interest received

(e) Income from investments

(f) Profit on sale of assets

(g) Bad debts recovered

(h) Dividend received

(i) Apprenticeship premium etc.

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Source by Anil Kumar Gupta

Views: 0

July 27, 2022
Journey of a Drug: Design to Market Seller
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Where do the medicines we take from chemists come from? How do the doctors know which drug is good for which disease? How the medicines really are able to cure a particular ailment they have been prescribed for? Do these questions come to your mind, whenever you buy any medicine?

Come, let us today know about the medicine development from the beginning …

The development of medicine is called a Clinical Research and has different Phases. Phases of the clinical research are the steps of experiments with a health intervention in an attempt to find enough evidence for a process which the scientists think would be helpful in medical treatment.

The pharmaceutical study starts its journey from a drug design and drug molecule discovery which further progresses into animal testing and then human studies to see the drug's effectiveness.

Drug undergoes many trials- Preclinical, Phase 0, Phase I, II, III and IV. Sometimes combined trials also are undertaken to reduce the time of development, like Phase I / II and II / III.

Pre-Clinical Study

When the drug molecule is identified, it undergoes many in vitro ( test tube or cell culture ) and in vivo ( animal ) experiments. These experiments are conducted to know the preliminary efficacy, toxicity, and pharmacokinetics of the various doses of the drug. Many drug molecules are designed at a time and these pre-clinical studies let the pharmaceutical companies decide which molecule has a greater potential in further studies.

Design of the Studies:

Trials are always conducted by following the set of steps, called the protocol, developed by the researchers to find the specific questions related to the medical product. Information from the prior studies become the base for the researchers to develop research questionnaire and objectives:
- Participant selection
- Number of participants
- Duration of the study
- Controlled or not
- How and what dosage will be given
- What and when the data will be collected
- Review and analysis time
Phase 0 Study

It is also called micro-dosing trials, 10-15 human subjects are taken and single sub-therapeutic doses are administered to gather the pharmacokinetic ( PK ) data of the drug. This enables the company in deciding to go or no go for the further development of the drug, based on more relevant human data instead of animal data.

Such trials exceed the speed of promising drug development by establishing whether or not the drug acts on humans as expected in pre-clinical studies.

After the company decides to take the molecule of the drug forward in development, it will have to submit the data of its preliminary studies to the FDA called Investigational New Drug ( IND ) application filing.

Phase I Study

Also called First-in-man studies as these are the first stage of human testing studies. These are the studies which are designed to determine the maximum dose that can be administered without showing adverse effects.

Contract Research Organizations ( CROs ) conduct such studies in the clinical trial clinics where medical staff provides full-time attention to 2-100 healthy subjects enrolled for the study and collects the data.

These studies determine the safety ( pharmacovigilance ), tolerability, pharmacokinetics ( PK ) and pharmacodynamics ( PD ) of the drug. The design of Phase I studies is dose-ranging also called dose escalation studies conducted in controlled clinics called Central Pharmacological Units ( CPUs ).

Usually, healthy subjects are hired but sometimes terminally ill patients like of cancer and HIV and also those who have already tried and failed to improve on existing medications.

There are two divisions for Phase I study:

Phase Ia: Single ascending dose

Phase Ib: Multiple ascending dose

Phase II Study

More than 100 diseased subjects are enrolled for a longer period study, to know the benefits of the drug along with its safety which includes genetic testing. These studies are also called as "Proof of Concept or Pilot" studies.

This is the phase when the drug's development can fail due to toxicity or less than expected results.

Two divisions of this phase are:

Phase IIa: Pilot study, to determine the clinical efficacy or the biological activity.

Phase IIb: Dose-finding study, to check the biological activity with minimal side-effects.

A combined trial determining the efficacy as well as toxicity are Phase I / II trials.

Phase III Study

These are pre-registration trials means the data of this study is submitted to the regulatory agency through New Drug Application (NDA) for its registration. Also called Pre-marketing or Pivotal trials.

Such studies are multicentral, randomized, in large diseased population ( more than 500 ) with much longer duration of treatment and short follow up period, to determine the long-term safety and efficacy of the drug.

Even if the regulatory submission is pending, the drug is received by the patients in case it's a lifesaving drug until the drug can be purchased.

'Label expansion' that is drug can treat an additional disease, other than the disease for which the drug is already approved, may also be the reason for running the Phase III trial.

It is said that for FDA ( United States Food and Drug Administration ) and MHRA ( United Kingdom's Medicines and Health products Regulatory Agency ) needs at least two trials of successful trials data to register the drug.

After these trials, the drug is approved for market selling.

Phase IV Study

These are Post Market Safety Monitoring studies done after the drug is registered. Also called Late Phase or Confirmatory trials.

This kind of study determines the long-term adverse effects on the much larger population for a very long duration (at least 2 years). If harmful effects are detected in this study, then the drug is disapproved and the company has to retrieve the drug from the market as it can no longer be sold.

The entire journey of the drug from a molecule to a market selling product takes around 15-20 years.

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Source by Nidhi Sharma

Views: 0
July 27, 2022
MLM Basics – The Multi Level Marketing Business Model

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MLM, also known as Multi Level Marketing, can be a wonderful method for achieving your personal and financial dreams when combined with the power of the Internet.

My goal in this article is to briefly explain what this business model is and what it is not since it is used by hundreds of companies to move their goods and services from production to the end consumer.

With the information I will provide here, you will be able to make an informed, educated decision as to whether or not this business model is right for you.

Multi Level Marketing is nothing more that a business model that uses independent distributors with a multi level commission payout plan to move products from production to the consumer.

Some people believe that Multi Level Marketing companies are nothing more than scams or illegal pyramid schemes. However, for true MLM companies, nothing could be further from the truth. These people simply do not understand how Multi Level Marketing companies work.

First you need to know that Multi Level Marketing companies are 100% legal and many large multi-million dollar companies employ this business model to move their products from production to the consumer. The pyramid shape associated with MLM companies is the same shape as almost all non MLM companies. There are always more workers in the lower ranks than there are senior managers, Vice Presidents, and CEOs. If companies were not of this shape, they would collapse.

Many Multi Level Marketing companies have been around for decades. Some of the better known MLM companies are Shaklee, Tupperware, Mary Kay Cosmetics, Amway, A.L. Williams (Insurance), Princess House (a subsidiary of Colgate Palmolive), Melaleuca, MCI, U.S. Sprint, and NSA.

MLM is an explosive growth field and there are hundreds more MLM companies that, just like other companies, include some that are good and some that are not so good. Today, more and more Fortune 500 companies are even embracing Network Marketing for a portion of their marketing portfolio!

No matter what some MLM recruiters would like you to believe, Multi Level Marketing is not a get rich quick scheme and work is certainly involved if you want to build a long-term stable business. So, why are MLM companies and programs so popular? It is because the Multi Level Marketing business model presents an excellent opportunity for the “little guy” to start, on a part-time basis, a business that has a large residual income potential.

The magic of MLM is that independent distributors earn commissions not only for their own efforts, but also on the efforts of other distributors that they recruit into the business. Earning 1% of a hundred peoples efforts is always better than earning 100% on your own efforts, as John Paul Getty noted.

The term “multi level” comes from the process where by one distributor recruits other people to become distributors and the new distributors are placed under them in what is known as a downline. Each distributor is paid a retail commission on the products they sell themselves, and a wholesale commission on the products their downline sells (down to some designated level).

The larger downline a distributor can recruit, the larger will be his or her commissions as they will earn a wholesale override commission on all the products moved by their downline organization down to the designated level. These commissions can add up quickly for distributors with large downlines.

Thus if a distributor can teach his or her downline members to be successful, then then they will be rewarded by increased earnings themselves. To paraphrase what Zig Zigler once said, you can get anything you want if you help enough others get what they want. By helping others succeed, a distributor helps themselves.

In addition to selling products directly, recruiting, training, and retaining others becomes the key to earning a large stable residual income with Multi Level Marketing. It is not easy, but it is very rewarding.

Millions of people are discovering the advantages of being their own boss and working from home with the MLM business model. A basic computer, telephone, fax machine, a HUGE ambition, and the knowledge of how to proceed to grow your business are all it really takes!

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Source by George Dodge

Views: 0

July 26, 2022
BSE (Bombay Stock Exchange) – Online Trading System

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Gone are the days when you needed a broker to help you buy and sell stocks, shares and make stock market investments. Through online investment you can buy and sell shares with just a few clicks of the mouse. The economic and capital market in India cannot exist without a stock exchange; there are two main stock exchanges where transactions take place; the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). While all the major transactions take place here, there are over 20 different stock exchanges located across the country.

Online trading in India has changed the meaning of trading in the country. With no requirement for a broker, trading has become easier, faster and far more convenient than earlier days. Some of the major financial products and services offered through online trading are mutual funds, equities, general insurance, life insurance, share trading, portfolio management, commodities trading and financial planning. In online trading, the investor has to pay less brokerage as compare to offline trading. There is no need for any paperwork through online investing and the need for a middle man is eliminated. All the stock accounts are stored in a Demat account where they can be viewed.

BSE online trading was established in 1995 and is the first exchange to be set up in Asia. It has the largest number of listed companies in the world and currently has 4937 companies listed on the Exchange with over 7,700 traded instruments.

The only thing that an investor requires for online trading through BSE is an online trading account. The trading can then be done within the trading hours from any location in the world. In fact, BSE has replaced the open cry system with automated trading. Open cry system is a common method of communication between the investors at a stock exchange where they shout and use hand gestures to communicate and transfer information about buy and sell orders. It usually takes place on the ‘pit’ area of the trading floor and involves a lot of face to face interaction. However, with the use of electronic trading systems trading is easier, faster and cheaper; and is less prone to manipulation by market makers and brokers/dealers.

The BSE provides an efficient and transparent market for trading in debt instruments, equity and derivatives. This is performed through a system known as BOLT – BSE’s Online Trading System.

In the stock exchange, a key index is used to keep track of the important or the most traded stocks in the exchange. The indice used at the BSE while trading is the SENSEX and is displayed in all major portals, newspapers and magazines. It is India’s first stock market index that enjoys an iconic stature and is tracked worldwide. It is conducted on a free-float methodology and is sensitive to market sentiments and realities.

There are also indices such as BSE small cap, BSE mid cap and BSE500 to take care of medium and small companies. Furthermore, India index services and Products Limited has indices such as CNX Nifty Junior, S&P CNX Nifty, CNX 100, S&P CNX 500 and CNX Mid cap. The BSE offers 22 indices to suit a multiplicity of needs, inclusive of 12 sectorial indices. For example, the BSE PSU Index tracks the performance of the listed PSY companies and also helps the Central Government to monitor its wealth on the bourses.

The BSE has become a completely ‘corporatised and demutualized stock exchange’ through the use of online exchanges. With partners such as Deutsche Borse (DB) and Singapore Stock Exchange (SGX) it has a global competitive force. BSE has strategic relationships in almost every part of the world- Europe (DB)), Hong Kong (ETF) and Asia (SGX), prominent public sector undertakings such as State Bank of India, Bank of India, Life Insurance Corporation of India and Central Bank of India.

Benefits of BSE trading system in India for share brokers or newbies

There are a number of attractive services to empower investors and facilitate smooth transactions. Some of these include:

1) Investor Services: A range of services are offered to investors. Being the first exchange in the country to provide an amount of INR 1 million towards the investor protection fund, the BSE had launched a nationwide investor awareness program; ‘Safe Investing in the Stock Market’ under which there were 264 programmes which were conducted in over 359 cities in India.

2) BSE has an Online trading BOLT system: the online-Trading system (BOLT) facilitates on-line screen based trading in securities. Currently it operates 25,000 Trader Workstations which are located across 359 cities in the country.

3) The BSE has the world’s first centralized exchange-based Internet trading system – BSEWEBX.com. This system helps the investors anywhere in the world to trade on the BSE platform.

4) The BSE has an online Surveillance system (BOSS) which monitors on a REAL-TIME basis the price movements, the volume positions and members’ positions as well as real time measurement of default risk, generation of cross market alerts and market reconstruction.

5) The BSE has a training institute – known as the Bombay Stock Exchange Training Institute (popularly known as the acronym BTI).The BTI imparts capital market training and certification; in collaboration with a number of reputed management institutes and universities. There are over 40 courses to choose from on different aspects of the capital market and the financial Bombay Stock Exchange market.

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Source by Monish P Kumar

Views: 0

July 26, 2022
Can You Cure Foot Pain, Back Pain and Fatigue With Shoe Inserts?

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I’m always on my feet it seems like. I have a job that is pretty demanding, walking and standing on my feet, eight hours a day. Some days I walk five to seven miles. I know, there are plenty of other jobs out there that are way more demanding than mine. However, doing a job like mine in dress shoes or any low-quality shoe can kill your feet. And this can lead to significant foot pain, back pain and worse. It can knock your quality of life down a few notches, and that’s precisely what it did to me.

With foot pain came back pain, exhaustion and me having to cancel my workout routine.

I mean, it wasn’t too long ago, I’d spend eight hours a day, working on my feet, before coming home and having to soak in the tub with Epsom salts. It was the only relief I could find. All of the pain and discomfort was rooted in the shoes I was wearing. They were nice looking, but not pleasant to walk around in all day.

Eventually, thinking I was going to have to quit my job (I did before going back.), I asked around and found out about some top of the line shoe inserts. I also bought new shoes.

With the new shoes, I felt 100 times better being on my feet. It was unreal. However, the shoe inserts made the most significant difference in my life. With top of the line shoe inserts, I could literally walk all day and have zero issues. I mean, after work, I felt zero pain and had no issues with my feet or back. Not only was there no pain, but no exhaustion either. After work, I still had plenty of energy and could go to the gym without any problem. It was amazing.

The best thing is that I can use the same inserts in all of my different shoes and enjoy the same benefits.

I never would have guessed that such a simple change could make so much of a difference in my life.

If you suffer from foot pain, back pain and your quality of life is suffering simply because of being on your feet, I highly suggest trying a pair of high-quality shoe inserts. They could change your life.

Additionally, regular exercise, weight-training and a healthy diet might help you, too. Being physically fit can make certain types of labor easier on your body. However, always check with your doctor before starting any new workout routine and diet.

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Source by Elvis Jackson Jr.

Views: 0

July 25, 2022