Your Questions About Successful Trading Companies

Betty asks…

Does anyone have an eBay Trading Assistant Contract?

I am looking for an eBay Trading Assistant Contract today. If anyone has one already, could you please email it to me or post a link for one. I could probably come up with one, but need it today and don’t have the time to sit down and make sure I don’t forget something. Thanks for your help. I know they’re available to buy on ebay, but am hoping to not have to do that. Thanks a lot for your help!
I have been selling on eBay for +7 years and have been a trading assistant for about 3 years. It’s always been with people I know or for just a few items. But I am going to be selling some items for someone who isn’t local and just want to make sure they are confident that I will pay them for their items. So basically this is just for this transaction, nothing major. I am not opening up a new business or anything.

John answers:

I have a seller’s agreement that we used when we had our eBay drop-off store. It is pretty thorough. You are welcome to use it, but you need to change the company name of course. You can download it at http://www.newlifeauctions.com/seller_agreement.pdf

Good Luck,
Bill
Visit http://www.newlifeauctions.com to learn how to start a successful eBay business.

Sandy asks…

Which of the following are groups of small investors seeking to make profits on companies with rapid grow?

13.
Which of the following are groups of small investors seeking to make profits on companies with rapid growth potential?
A) equity managers
B) community banks
C) stock brokers
D) venture capital companies
E) government securities dealers

14.
Which statement is true regarding independent agents?
A) They are usually based at domestic offices.
B) They usually specialize in a particular product.
C) They act as sales representatives.
D) They do not monitor or address customer satisfaction.
E) They represent one firm at a time.

15.
Which is the best explanation for why standard of living only increases through productivity?
A) Purchasing power increases when there is more consumer choice.
B) The more goods that are available, the lower prices will be.
C) More goods are available without having to come by additional resources.
D) Productivity increases the money supply in an economy.
E) Prices are determined by the standard of living.

16.
Who constitutes the membership of SCORE?
A) venture capitalists
B) successful entrepreneurs
C) commercial lenders
D) retired executives
E) company officers

17.
Honata Automobiles is a South Korean-owned company. Honata has factories in Indonesia and Brazil. Which of the following is/are affected by the production of Honata automobiles?
A) Indonesia, Brazil, and South Korea’s GNP
B) South Korea’s GDP
C) Indonesia and Brazil’s GDP
D) Indonesia, Brazil, and South Korea’s GDP
E) Indonesia and Brazil’s GNP

18.
Suppose that the United States requires that products sold here be at least 51 percent made here. Which of the following denotes this type of policy?
A) deregulation law
B) local content law
C) business practice law
D) strategic alliance
E) business practice law

19.
Which of the following resulted from NAFTA?
A) U.S. exports to Mexico have decreased.
B) U.S. exports to Mexico have increased.
C) Companies from other countries, such as Japan, have made fewer business investments in North America.
D) More U.S. jobs were eliminated than what was originally predicted.
E) More jobs have been created than what was originally predicted.

20.
What does the Sarbanes-Oxley Act of 2002 require a chief financial officer to do?
A) prevent insider trading
B) guarantee the accuracy of financial reporting
C) hire a forensic accountant
D) engage in strategic management
E) oversee the implementation of ethical standards

John answers:

13. D
14. E
15. C

not 100% sure..but offering my help…

Richard asks…

How do I set up a stall in a UK shopping centre & what license do I need? Where do I start?

I’ve been inspired to set up my own business since I was young, 5 years ago when I was 18 I had a successful business importing designer clothes from the east & selling them on ebay, however I let a friend get involved & they screwed me over & I had to cease trading (lesson learnt)

I have been pondering over various ideas since & I was inspired again by watching the ‘Smell what sells’ task on the last adults Apprentice in 2012. For those of you who didn’t watch it, Alan Sugar gives each group £150 to buy whatever they like from the wholesalers & try flog it during the day on a stall for profit inside a shopping centre, the idea is to give up on items not selling, admit defeat & purchase some more of what is selling to gain more profit & make up for the loss on the not so popular items.

I currently work full time in an Operations Management role & study a Law degree part time as I’d eventually like to be a family law solicitor, I’d like to make a comfortable amount during the next 3.5 years of my degree so I can leave my job, initially I’ll sell on weekends locally only till I’m earning enough to leave work, then during week I can travel UK to various shopping centres. I have the balls to give this a go, I could sell ice to the eskimos, I just don’t know where to start?

1) I’ll need self employed status, how do I set this up over & above working full time, will I pay more tax? Is it free? Do I need a business bank account?

2) What kind of trading licences do I need? Are they all of UK or just regional?

3) Do I approach shopping centres directly? Or do you bid for space?

Any other tips would be much appreciated as I’m a novice….

Thanks,

Sarah

John answers:

This was done just for the programme. I have been to loads of these shopping centres and there are only a few of these stalls and they are all the same. They seem to be the same company that sells crafts and jewellery. You would have to write to the centres Managers for information.
You would have to register with HMRC as self employed. You will pay tax on your profits minus expenses. You will need a business bank account and submit a self assessment each year. You would have to contact the Councils to see if you need a licence but if on private property ie: the shopping centre, you will not need one. You will need Public Liability Insurance.
Sorry but cannot see this coming off. I would presume the rental for a stall would be huge.
UK

Donald asks…

Do you have to be incredibly smart to be an investment banker?

Or can you have an above average IQ (around 110) and still work for a top firm and be successful?

John answers:

Nope.
Depends. And, I reckon the real smartest people should be in management consulting companies such as Boston Consulting.
You can still be very successful working for large commercial banks or boutique IBs or other advisory companies such as advisory divisions in international accounting firms.

It all depends what IB roles you are looking for.

1. For the smart and diligent graduates. Typically come from top universities with crazy academic results. Normally they work in profit generating roles in IBs such as in Equities Researcher/ Analyst/ Sales & Trading or in corporate finance dealing with M&A.

2. For those who are not from very top schools/ don’t have straight A’s grades.They would be in very good and proper roles in cost centres in an IB.

3. For those who are not from top schools and don’t have crazy grades but have connections. They would be in customer service roles such as a relationship manager or in other sales positions or in some good operational roles .

4. For those who has not got anything outstanding and no connections, they would be in operational support roles such as different types of administrators/ officers. Still get good money since it’s IB after all.

These are not definite cases, can vary though.

You can work your way up by studying more i.e. Getting yourself more and more certifications in finance and get a more relevant job each year that is relevant to your dream role.

But at the end of the day, if you know top management or the board members of IBs, you can easily get into whatever you want provided you are not an idiot.

Susan asks…

Is it ethical to be charitable and profit off your charity?

Mostly I’m talking about Tom shoes. This is a company that has become popular with their for-profit charity of giving one pair of shoes to Africa for every pair of shoes consumers buy. My boyfriend and I had an intense debate about whether or not this is ethical. He feels it’s okay because in the end they are doing something good for other people. I feel it’s not okay because they are using the sympathy of consumers to make millions. This company never would have become successful if they didn’t use the shoe less children in Africa as a marketing tool. We both have a very biased opinion of whether or not this is unethical. It would be nice to hear what other people think about this.

John answers:

Newman’s Own food products is a for-profit business. It was created in order to fund Paul Newman’s charities. Everyone who works for Newman’s Own makes a profit — they are paid salaries, receive benefits, etc. What money is made beyond that goes to charity. The company makes great products, but the reality is that the company would never have been as successful if it hadn’t had its charitable focus.

The Body Shop is a for-profit business. It was set up to both provide an alternative to cosmetics that are animal-tested and promote an end to animal-testing on cosmetics, as well as to promote buying materials for cosmetics from developing countries, “Trade, Not Aid.” The company makes great products, but the reality is that the company would never have been as successful if it hadn’t had its environmental focus.

The good that’s been done by these organizations would never have been done had they not existed.

Same for Tom’s Shoes.

So — why does it matter? Money isn’t going to Tom’s Shoes *instead* of going to charities. In fact, MORE money is going to charities because of this for-profit business. Therefore, what’s the harm?

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