Low Risk Bets For Long Term Profits.

Dont Lose Your Shirt! – Ebook(r) & Software – Affiliates Earn 60%.
Low Risk Bets For Long Term Profits.

Race Specialist Definitive Horse Racing Method For Low Risk Winning

Top Affiliate Resources. Access To Videos,re-brand Able Books,articles,banners,marketing Tools/software, Including Killer Guide To Generating Traffic. Exclusive Discounts For Your Subscribers. Promotion,no Brainer! Http://www.race-specialist.com/affiliate
Race Specialist Definitive Horse Racing Method For Low Risk Winning

Save Money, Lessen Risk by Simplifying PCI Compliance

Do you accept credit or debit payments at your business?  If so, chances are that you need to comply with the Payment Card Industry Data Security Standard (PCI DSS).

PCI DSS establishes minimum data security measures for organizations around the world that hold, process or exchange cardholder information from any of the major card brands. The standards are reviewed every two years, and were most recently revised in October 2010.

According to a study by the National Retail Federation and First Data, 86 percent of small- and mid-sized business respondents said they care about keeping customer card information secure and feel card data security is important to their business. But while most (66 percent) are aware of PCI DSS, only 49 percent had completed a required self-assessment at the time of the survey.

credit card security

Protecting cardholder data can seem expensive and a bit overwhelming to small business owners, most of whom already wear many hats. However, the financial and reputational costs of a breach can be significant – in some cases jeopardizing your business altogether.

But where to start? Hopefully you already limit physical access to cardholder information and keep anti-virus software up to date. Here are additional ways you can significantly increase data security while managing compliance costs:

Encrypt Sensitive Data
Probably the single most important measure that a business can take to protect cardholder information is to encrypt card data immediately after the card is swiped at the point of sale. The information should stay in an encrypted state while it is transmitted to the payment processor.

This step means the transaction is never transmitted in plain text in the frame relay, dial-up or Internet connection, where the potential exists for interception by fraudsters. If the data does get siphoned off once it is encrypted, it is virtually useless to thieves.

Reduce Your “CDE”
Every computer system, filing cabinet and application that uses or stores sensitive card data, including encrypted data, is part of the overall cardholder data environment (CDE) and within the scope of PCI DSS compliance. In other words, the more places you have data, the more places you need to worry about protecting.

Limit – and even shrink – the scope of your CDE by restricting the use of cardholder data to only those applications directly pertaining to payments (e.g., transaction authentication, daily settlements and chargebacks).

Embrace Tokenization
Tokenization is a “layered” complement to encryption. Cardholder data is sent to a centralized and highly secure server (vault) after authorization, and a random unique number (the token) is generated and returned to the business’ systems for use wherever the cardholder data would normally be used.

The token is specific to the card and can still be used to process returns, track spending habits and other business functions, but the number itself has no value for fraudsters. This can dramatically reduce the impact of a potential data breach.

Tokenization can also help reduce the scope of the CDE because there is no cardholder data present. Businesses that replace cardholder data with tokens in all their enterprise applications can significantly reduce the scope of their CDE, and subsequently reduce the scope and cost of PCI DSS compliance and annual assessments/quarterly scans.

Work With a Third Party
Another way to shrink the environment that’s subject to PCI compliance is to hand over the responsibility (and liability) for storing card data to a third-party service provider. For instance, a business can send encrypted card data to the payments processor for authorization, and when the authorized response is returned, a tokenized number is also sent to the business.

This approach layers encryption and tokenization while also shrinking a business’ CDE to the smallest possible footprint: the POS system that holds live, pre-authorization card data.

Raise Your Hand
Businesses have a responsibility to protect their customers’ data, but you don’t have to do it alone. Talk to your payments provider about solutions and experts that can help your business get and stay compliant. Remember, PCI DSS is a minimum standard, and finding the right partner(s) can help you make smart decisions about how to best safeguard your customers – and potentially your business.

From Small Business Trends

Save Money, Lessen Risk by Simplifying PCI Compliance

View full post on Small Business News, Tips, Advice – Small Business Trends

Misjudging risk (and bad decisions)

The perception of risk is skewed when bad outcomes are vivid, personal and immediate.

Given the choice between working on the important and the urgent, the urgent almost always wins.

Given the choice between avoiding the rare but grisly outcome or doing the hard work to avoid the equally nasty, more subtle but more common outcome, we usually go for the grisly.

We do this sort of miscalculation all the time at work. We avoid the hard work on the long-term project in order to panic and rush about to avoid the possible vivid, immediate and personal risk on the short-term project, even if it’s far less important.

(Think about this the next time you’re in the security line at the airport).

This is one reason why the media is so complicit in many of the issues of the day… they take concepts that were previously abstract and relentlessly make them vivid, personal and immediate. It amplifies the risks around us and easily sells us on a cycle of dissatisfaction.

If you want to create action on the important, figure out how to make it vivid, personal and immediate.

View full post on Seth’s Blog

The Other Side of Risk in Franchising

It’s a risky proposition to make the move from corporate America to small business ownership. Not everyone has the courage to actually do it. Lots of people look into becoming franchise owners as a way to mitigate their risk. As you’ll soon see, there’s plenty of risk to go around.

Lots of people who are interested in exploring opportunities in franchise ownership do so because they think that it’s a lot less risky to invest in a franchise business as opposed to an independent business.

Risk in Franchising

In some cases, it may be a lot less risky to become the owner of a franchise business, but lots of things have to really line up correctly for that to be the case. Things like:

  • The prospective franchise owner’s skills align perfectly with the role they’ll be taking on as a franchisee.
  • The prospective franchise owner’s financial situation leaves lots of room for ramp-up time.
  • The franchise concept itself won’t quickly become a fad.
  • The prospective franchisee’s geographical area can easily support the franchise concept.

When I started in my current role in franchising (2001), rather aggressive franchise success rates were being thrown around. They were so aggressive that our industry’s main association had to jump in to temper things a bit, in May 2005.

Matthew Shay (who at that time was the International Franchise Association’s President) wrote this letter to the International Franchise Association’s membership:

Dear Friends:

It has come to our attention that some IFA-member companies may be providing information about franchising that is long out of date and no longer presents an accurate picture of the sector.

Of particular concern is information claiming that the success rate of franchised establishments is much greater than that of independent small businesses.

Many years ago, the U.S. Department of Commerce conducted studies about franchising which presented such statistics. That information is no longer valid. The agency stopped conducting such studies in 1987.

We strongly urge you to remove any information from your Web site and published materials that make such a claim. The use of such data, in the absence of current research, could mislead prospective franchisees who are attempting to conduct responsible investigations.

If you’d like to learn more about franchise failure rates, read this post at OPEN Forum By American Express.

As I stated earlier, I feel that starting a franchise business as opposed to starting an independent business can be a lower-risk proposition if everything really lines up. But I was only talking about your risk. What about the franchisor’s risk?

Believe it or not, it’s a pretty risky proposition to invent and then set up a brand new franchise concept. In addition to the financial investment needed to do it right (well over $100,000), there’s an operations manual to write (and perfect), the right technology (software and computer systems) to be purchased and customized, all the legal requirements to be met, and the new concept has to be marketed. Last, but not least, it then has to be sold, one franchise at a time.

Now, I don’t expect you to feel sorry for franchisors; they can create some pretty terrific wealth for themselves. What I am trying to tell you is that franchisors are taking a major risk every time they award someone a franchise.

Think about it: The potential royalty stream from one franchisee over the life of the franchise contract (typically 10 years) can be $200,000 (on the low end) to over $1 million. (Franchisors don’t really make a lot of profit on the upfront franchise fees; they make it from the ongoing royalties.)

For instance, what if a franchisor awards a franchise to someone who turns out to be a horrible franchisee? A horrible franchisee may be one that fights the franchise system on every turn, pays franchise royalty payments late (if at all) and just doesn’t represent the brand very well.

As a franchisor, you may want this franchisee out of your system. To terminate this franchisee’s agreement, you’ll probably have to spend a bundle on legal costs, plus you’ll be taking time away from more important tasks, like finding new franchise owners and taking care of your current ones. That can’t be very enjoyable.

As you can see, there’s another side of risk in the franchise equation. I’ll bet you didn’t know that.

Can you see how important it is for there to be a great match between the would-be franchise owner and the franchisor?

Can you see how a great match can reduce risk, on both sides?

From Small Business Trends

The Other Side of Risk in Franchising

View full post on Small Business News, Tips, Advice – Small Business Trends

Competitive Intelligence Advantage: How to Minimize Risk, Avoid Surprises, and Grow Your Business in a Changing World…

http://homewealthproject.com/wp-content/blogs.dir/1/files/HLIC/5aabc01e8769b00b53e9d813fbec42bf.jpg Amazon.com: Competitive Intelligence Advantage: How to Minimize Risk, Avoid Surprises, and Grow Your Business in a Changing World…
First shared by paulajohnson
on SERVICE_TWITTER
paulajohnson
Last shared: Sun Sep 12 04:11:08 GMT 2010
1 Total Shares: 1 Tweets

View full post on Home Wealth Project Riot!

Re closes weak as risk aversion hits stocks – Forex – Markets

The rupee edged slightly lower on Friday weighed by late losses in… in global markets ahead of a key speech by Federal Reserve chairman Ben Bernanke.
First shared by IndiaNews247
on SERVICE_TWITTER
IndiaNews247
Last shared: Fri Aug 27 20:25:01 GMT 2010
13 Total Shares: 13 Tweets

View full post on Home Wealth Project Riot!

Exploration and the risk of failure

People seem to be in one of two categories:

  • Those who seek stability, affiliation, work worth doing and the assurance it (whatever it is) will be okay.
  • Those who explore, need to know that failure is an option and quest to make a dent in the universe.

You can be in either category, the world needs and rewards both. But pick a brand and a job and a posture that matches your category, or you’ll fail, and be miserable until you do.

Hint: there is no category of: “does risky exploration, never fails.”

View full post on Seth’s Blog

Manage Risk and Improve Your Business With “The Checklist Manifesto”

The Checklist ManifestoBusiness at a certain level is about bringing clarity to complexity. You hear about organizations struggling to provide clarity all the time.  Ford, for example, found an executive, Alan Mullaly, who could best manage its manufacturing and development complexity. Who better to run a company that produce vehicles made of thousands of parts than one who had  managed Boeing, a company that built planes containing millions of parts?

A similar search is the foundation for The Checklist Manifesto: How to Get Things Right by Atul Gawande.  Gawande, a surgeon and associate professor at Harvard Medical School, sought the best method to minimize physician care error.  I had heard Gawande’s interview on Harvard Business Review podcast in which he explained his journey and associated study, and I wanted to read more.

With More Understanding Comes Less Understanding

Gawande’s book is about the need to better manage required steps in patient safety in a surgery setting. The end result was a search for the best checklist that could cover all the bases. The search took the author to various locations and even various industries.  With an casual style, The Checklist Manifesto brings the reader to a doctor’s level.   But like many true innovators, Gawande  incorporates other views to explain perspective from within his profession.   The result for the reader is a well-written book that conveys the challenges without using excessive jargon or watering down information.

For example, he explains how people fail due to ignorance, “because science has given partial understanding of the world and how it works,” and ineptitude (we know, but fail to apply the knowledge).  Gawande uses the example of our knowledge about heart attacks:

“Even as recently as 1950 we had little idea on how to prevent or treat them….Today, by contrast we have at least a dozen effective ways to reduce your likelihood of having a heart attack…”

Gawande next explains the challenge in getting the right knowledge applied:

“…just making the right treatment choice among the many options for a heart attack patient can be difficult, even for expert clinicians.”

Then he mentions recent medical studies on caring for stroke victims to reinforce the challenge physicians face:

“Studies have found that at least 30 percent of the patients with stroke receive incomplete or inappropriate care from their doctors as do 45 percent of patients with asthma and 60 percent of patients with pneumonia. Getting the steps right is proving brutally hard, even if you know them.”

The ability to prevent the errors that can result from the complexity of choice is at the heart of his journey - “Knowledge has both saved us and burdened us.”

The middle chapters showcase Gawande’s journey in developing a checklist solution, starting with his work with the World Health Organization.  Gawande looked at professions that involved multiple tasks, skill requirements and dire consequences if proper steps are not followed.  His journey offers great “a-ha” reminders of how the world works, and is simply fun to follow.

The journey leads Gawande to Daniel Goodman, a Boeing aviation checklist expert who develops lists to avert human error during flight.  Goodman explains the idea behind good checklists:

“Good checklists are precise. They are efficient, to the point, and easy to use in the most difficult situations. They do not try to spell everything – A checklist cannot fly a plane.  Instead they provide reminders of only the most critical and important steps – The ones that even highly skilled professionals could miss.”

The brief explanation of a READ-DO and a DO-CONFIRM checklist are enlightening and excellent.

Why This Manifesto Works So Well

The Checklist Manifesto is a solid book for a few reasons:

  • The risks at stake in the anecdotal examples are easily understood. Poor surgery procedures can lead to patient deaths. Poor preflight procedures can lead to a crash.  Thus the impact of checklist benefits can be easily taught to your employees, contractors or project teammates.
  • The idea of risk management is introduced simply, so readers with no experience with statistics will not be intimidated.
  • Gawande shows the ubiquity of the need for checklists in critical projects as well as the usefulness the checklist provides in its simplicity.
  • By investigating how several industries tackle the same problem, Gawande showcases how innovation comes from assimilating processes from other industries.

Who Will Enjoy The Checklist Manifesto?

If you are a business owner addressing complexity, this book will win you over. There are no charts or research notes, but the manifesto for better upfront decision-making is very clear thanks to the story that this book weaves.

With The Checklist Manifesto, you and your team will be inspired to make a checklist and, like Larry The Cable Guy says, “Git ‘er done!”

From Small Business Trends

Manage Risk and Improve Your Business With “The Checklist Manifesto”

View full post on Small Business Trends

Study: Social-media use puts companies at risk

http://homewealthproject.com/wp-content/blogs.dir/1/files/HLIC/0a32a0ef60eae705a8669f9deaf38ded.jpg Companies that allow employees to use social networks face a range of risks, including malware, lack of control, and brand hijacking, according to a…
First shared by ucanhomebiz
on SERVICE_TWITTER
ucanhomebiz
Last shared: Tue Jun 08 19:39:07 GMT 2010
57 Total Shares: 56 Tweets, 1Diggs

View full post on Home Wealth Project Riot!