Preparing a Witness to Testify – Part Two

Preparing a Witness to Testify – Part Two

Before getting to the “noise issues,” please consider a perfect example that was in all the papers this week about the defective — to put it nicely — testimony of the president of Westland/Hallmark Meat Company before a congressional committee about his company’s use of downer cattle for food products. He denied doing that. He was then confronted with video footage that has been on the Internet for two weeks showing that the charge was in fact true. He then had to recant his denial. That’s what happens when a key witness is not prepared or refuses to become prepared before he takes the oath to testify truthfully.

Noise reduction consists of purging the witness’ speech patterns of habits of expression that are irrelevant and potentially harmful. It is important to re-emphasize here that you are not coaching him to speak untruthfully, but to speak truthfully in the most effectively communicative manner. Most of us are not conscious of how others hear us when we say things. We think we are doing just fine when misimpressions are sometimes occurring.

One of the worst things that people do is self-justify. The answer to “Did you do that?” is not “I would never do such a thing.” The answer is a yes or a no. Many who hear self-justification and not direct testimony come away with the impression that the witness has just tried to duck the question for the purpose of concealment. Teach the witness to listen to the question and to answer the question that is being asked and not some other imagined question. The questioner is not asking him to give a speech about his rectitude and integrity. He is asking if something happened; was the witness involved; how was the witness involved; and what was the purpose of doing whatever it was that was done. These will be asked in separate questions and need to be responded to directly. The witness needs to know that he will not be entrapped by this response pattern. If you are calling the witness and are on direct examination, he will be asked these questions in a manner that will give him the opportunity to say what needs to be said. If he is being called by the opposition and roughly examined, you will be there to resurrect his opportunity to say the proper things immediately after the opponents have concluded their questioning.

He can feel comfortable that he will not be left hanging from some limb. Long-winded statements of company policy, mission statements (the single most horrid language usage in the universe), and rectitude do as much damage to credibility as false testimony. When you aren’t sticking directly to the point and answering questions forthrightly, the perception is that you are being evasive for purposes of concealment and false testimony. If the answers from the witness are direct and forthright, the impression left with judge, jury or arbitrator will be that you are being truthful. This includes direct answers about the good and the bad. You shouldn’t be there in the first place if the bad outweighs the good. You should have settled and taken your medicine in private.

There is a tendency to speak ill of the opposition. If the opponents’ acts are blameworthy, a straightforward statement of what they have done ought to suffice and leave the desired impression of what miscreants the opposition truly are. Name-calling and undue rancor leave a bad impression. Let their conduct speak to the issue of what they deserve, not your opprobrium and epithets. Hopefully, they will not be so gracious when it is their turn to speak, and they will by contrast show that you are being direct and that they are not. Many lawyers make the mistake of thinking that accusations, often repeated, are a substitute for evidence. It is not and will elicit proper objections and rulings from the bench that confirm your view of the negative value of name calling as a “filler” for evidentiary voids.

You should teach the witness his proper role and show him how attempts to confuse his role with yours can get him into big trouble. His role is to provide truthful information and to be a gentleperson. Yours is to be the advocate. It is your function to be concerned about where your opponent is going with a line of questioning. If the witness deems that to be his function, he is not concentrating on simply giving accurate answers. If he gets into that mode, he will not be convincing. Constantly coach him to simply answer the question that is being asked and leave the advocacy to you. Role-playing in this and in every other phase of witness preparation is an indispensable tool.

There will be occasions, to be sure, when something pops into his mind, prompted by a question in most instances, that he had completely forgotten about until that moment. He will not have discussed this with you, and he will be fearful of it. And this fear will reveal itself in physical mannerisms visible to the judge, jury or arbitrator. If you have vetted this possibility with him before he is called to testify, he will know how to deal with it. In such an instance he should be taught to ask himself in his mind whether this surprise recollection is a fact or an opinion. As he is obligated to speak truthfully, a fact should be stated if it is responsive to a proper question. If it is a matter of his having a doubt about some set of circumstances, that doubt should be kept to himself until you have an opportunity to speak with him about it on the next break. Then you and he sort it out, and if further explanations are called for, you clean that up when you get the witness back (at trial) or decide whether to clean it up now or wait till later (in a deposition).

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Coding Petty Cash

Coding Petty Cash

One of the most frequent mistakes accountants see on financial statements is the miscoding of petty cash.  It is a very simple concept to grasp but for bookkeepers who do not know what they’re doing, they can really make a mess of this simple entry.
 
Most bookkeepers and non-financial staff code expenses directly to the petty cash account instead of to the actual expenses.  The only time the cash account should be affected is when you increase or decrease the petty cash limit. 
 
For example, your petty cash fund is $275.00.  You give staff money and they bring you receipts for food, supplies, services, postage, etc. which total $251.00.  You would either do a journal entry debiting each expense and crediting cash or you would write a check to cash and code each expense. Does this make sense?
 
The point is, you never code expenses to a cash account.  When you look at your petty cash on the financial statement, it should not exceed the $275 you’ve allotted.  Please feel free to email me if you have questions!
 
 
 

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Types of Innovation

Types of Innovation

Home » Business Consulting » Types of Innovation
May 7, 2013 Frank Bullock Business Consulting, Business Ideas Tags: business consulting, business ideas, innovation, types of innovation
Because our website aims to help you get acquainted with basic concepts of business, thus enabling you to come up with successful business ideas or marketing strategies for an existing business, we thought of writing an article about the types of innovation that exist. That way, you will be familiar with yet another set of tools you can use to develop or innovate your business, or which you can use to create an entirely new market with its own set of consumers.

Thus, the types of innovation that you can come across and utilize in your strategies are: sustaining innovation and disruptive innovation.

Disruptive innovation – We’ve already discussed this type in another article and we presented it in detail, so you can go there for more comprehensive information. Nonetheless, for thoroughness’ sake, let us say that disruptive innovation is the type of innovation that disrupts existing markets by creating an entirely new one; it can refer to a technology, a product, a service or a strategy that innovates an existing market, thus posing competition for well-established technology. This usually caters to a small market or niche market because it can’t afford to invest into research, development or marketing like well-established companies. Some examples to clarify the term: radiology was disrupted by ultrasounds, chemical photography was disrupted by digital photography and USBs were disrupted by cloud computing. In order to be able to produce or nurture innovation, one must understand existing products. For a business to be able to come up with new products or strategies, it needs to keep in touch with the latest tech news. It is essential for all business owners and managers to subscribe to good tech websites like http://www.sifrutech.com. This website dissects the latest gadgets and apps. Understanding these products and how they are received by the market can help you come up with new business strategies. Keep in mind that in order to innovate, you must be up to date with all types of new technology discoveries.

Sustaining innovation – It can be of two kinds: revolutionary innovation and evolutionary innovation. Unlike the disruptive type, sustaining innovation expands and develops existing markets; thus it means investing in developing and bettering a certain product or service, or a certain business model or strategy.

Revolutionary innovation is one of the types of innovation that, as opposed to disruptive innovation, does not create a new market; instead, it innovates a product or a type of service in a way that the market does not expect, in a way that customers are not expecting. A good example is the automobile, which improved transportation in ways that people weren’t expecting, or telephony which made telegraphy obsolete. Nowadays there is a wide variety of cool new technology available which makes it very easy for people around the world to communicate and share ideas. In fact, if we consider the technological trends of the present, we can agree on the fact that sharing devices and software are the most revolutionary innovations of the present as they redefined the way that the use the internet.
Evolutionary innovation is the type of innovation that works on developing a product in a way that markets and consumers are expecting it. Thus, mobile telephony was an innovation to be expected from the fixed telephones that existed. Another example would be the fuel injection, which naturally replaced carburetors some thirty years ago.
The invention of automobiles was a revolutionary technological innovation in the beginning, because production was so expensive that it couldn’t absorb the market for horse-drawn carriages for many years. However, once Ford industrialized and managed to produce many vehicles quickly and cheaply, it soon became disruptive innovation because more and more people would renounce the millennial-old carriage. Industrialization in itself soon became disruptive technology because it made man-made work obsolete by replacing it with faster-acting, better performing machinery that delivered standard quality.

These are the main types of innovation; by studying them further and looking for existing examples on the market, perhaps you too can come up with an idea to revolutionize the business market and thus find success.

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The Costs of Starting a Business

The Costs of Starting a Business

Home » Business Tips » The Costs of Starting a Business
May 7, 2013 Frank Bullock Business Tips, Starting a business Tags: business ideas, business tips, costs, costs of starting a business, starting a business, types of business
Deciding to start your own business may be the best idea you’ve ever had, but before investing everything you have in in, there are several factors you must take into consideration. You need to make sure that your business idea is profitable and that you can sustain it in order to be successful. Besides market research to find out whether there is room and a target audience, you need to deal with a very important and essential aspect: the costs of starting a business. This means calculating whether you have the financial means and resources to start and maintain your business idea.

We cannot show you how to calculate the costs of starting a business step by step with exact formulas because they differ from domain to domain. We can, however, show you some general steps that will help you go in the right direction without missing some essential aspects. This part is different from the financial plan, but the information you get out of it will help you put together this plan if your idea is viable. Thus, you will have to calculate the initial costs of starting a business, but subsequent ongoing expenses as well, those that crop up every month like electricity bills and costs for resources, employees and so on.  Before starting, consider your finances and see how much you would be willing to pay in order to achieve your dream; you may also consider borrowing money if you have assets that you can use as guarantees, such as mortgaging your house. This is not an ideal solution and we don’t recommend it, but it is ultimately up to you to decide how much and what you are willing to sacrifice. Here are the steps you must follow:

Business headquarters – Depending on the type of business you choose, you can either work from home or from an office. If, for example, you want to write a blog, do reviews or translate, you can easily work at home and not worry about such expenses. However, if you want to open a bakery, a consulting business, or a cafe, you will need a good and accessible space; calculate how much you would be willing to spend and decide whether you want to purchase the space or rent it. There are different expenses with each decision, and they will vary depending on the size of the space and how good the location is. Short tip: don’t be too cheap with the premises, because you want customers to find you easily and not make long trips to reach you.
Employees – If the type of business you chose requires hiring some employees, calculate how much you would need to pay them. To begin with, you may have to pay for recruitment, or for some ads stating that you’re hiring. You may need preparation before taking on the task of managing employees. Consider taking business classes at your local community college or earning a masters in organizational leadership online in your spare time. There are many resources you can utilize to help prepare you for this new responsibility. Next, you need to figure out correct wages depending on the market, the responsibilities of the jobs and your finances, because you may have to pay from your own pocket until the business starts producing. Estimate how long it would take for the business to take off and you will see for how many months you need to pay.
Marketing – Whether you’re starting a home business or something else, between your costs of starting a business there is also the matter of marketing. You need to promote your business as best you can, either with ads in the local papers and magazines, on the radio or television and, of course, the Internet. If you can, pay to have an official website built, and do some research to see how much that would cost you. There is also the option of creating a page on several social networks, which is entirely free and only costs you some time. If you want to look and be truly professional, you should really invest in creating a brand, a logo and even a catchphrase that people can easily remember. Unless you are able to do this yourself, you will have to pay a special consultant or a marketing team to help you create something original and catchy.
Stock and resources – If your business means selling goods such as vegetables or coffee, you need to calculate how much you would need to invest to have your shop fully stocked for the first few months. This is difficult to calculate, so you need to estimate how many customers you think you would have and how long it would take for the business to start paying for its own goods. We recommend that you overbuy a little because it is better to have surplus that be out of produce in your first weeks of business – this will disappoint new customers and you won’t have time to gain them on your side. To help you with marketing, you can think of some special offers to attract new customers, and calculate the costs of that as well.
We realize this information isn’t of much practical help for calculating the costs of starting a business, but perhaps now you’ve got an idea of what you need to look for. You will have to use your intuition and guessing abilities a bit, and know that no new business is without risk. But you have to take risks if you want to win a lot, and with the proper market research you can be able to make reasonable decisions. As long as your business idea is very good, you can afford to have some losses in the beginning, knowing they will be redeemed by future profits.

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