Sharing business?

Discussion in 'Coastal Vacations' started by CarolinaConsign, Jan 14, 2007.

  1. CarolinaConsign

    CarolinaConsign New Member

    What if you wanted to start a Coastal Business with a partner that is not in the same state, is this allowed?

    Would you both receive the same Package material?

    Are there any extra costs involved if this is possible?

    Thank you in advance for any answers!

    Brian
     
  2. PNL Travel

    PNL Travel New Member

    Hi again Brian,

    Yes, you can absolutely start a Coastal Business with a partner in another state. It does make it easier if you live close because there will only be one package distributed. You can order two sets of cards, and they can go to any address. There is an extra fee to order the second set, I think it is $45. Either one of you could order vacations using the fax on demand system so that wouldn't be a problem.

    My Mother-in-law and I started our business together. We live in the same state but we live in different counties. The business laws are totally different for each of us so that's something that you would need to check on...

    Hope this helps!

    Lora
     
  3. dawnmo

    dawnmo New Member

    That's good to know, Lora! I never realized you could share this business. Very cool...

    Dawn [​IMG]
     
  4. PNL Travel

    PNL Travel New Member

    Quoting: dawnmoThat's good to know, Lora! I never realized you could share this business. Very cool...

    That's what I'm here for!!! It really is very cool! It has worked out well for us anyway [​IMG]

    Lora
     
  5. jnapier

    jnapier New Member

    Quoting: CarolinaConsignWhat if you wanted to start a Coastal Business with a partner that is not in the same state, is this allowed?

    Would you both receive the same Package material?

    Are there any extra costs involved if this is possible?


    Great Question. You can partner like this very well. You'll want to be flexible and realize there will be additional costs as 1 investment = 1 membership, but it can be shared.

    Jay NaPier
     
  6. matiasmommy

    matiasmommy New Member

    Hi Brian!

    Actually.. I know of a mother and son who are not only in different states but different countries that share a package and run their business together! My own daughter is not yet 2, but her name is on my package! I don't know if you are already aware.. the package itself is a willable asset. Great selling feature for me, I'm a single mother. My daughter will inherit both the package AND my business.

    There is space for 2 names on the membership.. so that is just fine!

    Jay is right.. there will be additional costs. For example, should you each wish to have a set of cards. Plus, should you want to market online, 2 internet connections and obviously 2 phone lines. Perhaps a larger advertising budget.. more advertising makes more work for both of you but will help you get off the ground in double time!

    From my experience (and these are couples) its GREAT having 2 people working together. Ones strengths tend to balance off the others area's that are opportunities for improvement. For example he is creative, she is organized or She does retail, he does business building. Again, I've only worked with couples- and they say opposites attract! So hopefully with your partner you will also enjoy some of that synergy!


    I believe that you can set up with one of the major banks a business account for the business and have both of you on it for deposit and withdrawl. Talk to your friendly local banker for the details exactly!

    It also doubles as a really great funding option for people- I have had someone buy a package for use and the other person pursue the business. Everyone is happy, everyone wins!

    Hope that helps you!

    Jani Teeter
    L3 Director, CSG
     
  7. luvtravel

    luvtravel New Member

    Great ideas! I want to take JV one step further, I have discussed this with my husband, we have thought about a joint venture with another person who is also in Coastal and combine our advertising efforts etc, and see if we could not only double our efforts but double our income [​IMG]

    Terri
     
  8. screamingeagle

    screamingeagle New Member

    Quoting: matiasmommyI don't know if you are already aware.. the package itself is a willable asset.

    Hi Jani:
    I've already asked if the package becomes an expense or an asset. Everybody told me that it's an expense. At what point does the "willable asset" become an expense? Or is it always an asset?

    I learned in my recordkeeping class that things bought for the business, such as office supplies, inventory, prepaid insurance, etc, are considered assets until they're sold (inventory) , used up(office supplies), expired (prepaid insurance) at which time they're considered expenses.

    Thank You,
    Robert
     
  9. matiasmommy

    matiasmommy New Member

    Hey Robert!

    I think you were the fellow that I saw ask that question on the global theatre last week??

    Its been a loooong time since I took accounting 101. I just did what I had to in nursing school, really not my forte!

    BUT.. when you first purchase your package for your BUSINESS it is an expense. In your first year, it will be written off as such on your tax return as start up costs for your business. All other associated costs are the same. The package is a one time expense as it is a lifetime purchase. You will have operating costs such as phone, internet, advertising etc that are then fixed and non fixed costs such as buying office supplies whenever they are needed. I seem to remember something about an expense becomming an asset when it is paid for? This is why it is considered "healthy debt" to start a business with a credit vehicle vs. going to bloomingdales and buying a few really nice pairs of shoes.


    NOW.. in your personal life it IS an asset. So, therefore you can will it on to whomever you choose when you pass on. Not anytime soon, I hope! BUT, what is was saying is next time you make your will, stick it in there.

    As a single parent, this was a very BIG bonus for me.. both my package and my business can be passed onto my daughter. In other words, she can use it personally and/or choose to take over my business. In MANY, MANY years, naturally!

    Erm.. something tells me this will have to do with the accounting system you choose?

    Sorry, I know I'm about as clear as mud. In a nutshell, as the business OWNER I gather it is an asset, but at the level of business book keeping I believe it to be a capitol expense.
     
  10. screamingeagle

    screamingeagle New Member

    Quoting: matiasmommyI think you were the fellow that I saw ask that question on the global theatre last week??

    Yes, I was the one to ask that question. I didn't realize that was a question for the members only calls, I live and learn. As quoted from "Change Your Thinking, Change Your Life" by Brian Tracy: "If you want to be successful faster, you must double your rate of failure. Success lies on the far side of failure."
     
  11. matiasmommy

    matiasmommy New Member

    hi Robert!

    Hmmm.. i don't know who got the idea in your head that there even IS such a thing as a "members only question"?? You are free and welcome to ask anything you need to know to get the information you need to make the best decision for yourself! Just ask your director and get on as many of those Global Theatre and CSG Q&A calls as you need!

    Did my answer help you out or just confuse you more?

    There is no such thing after all as a stupid question, only the question unasked!

    I love Brian Tracey! Great quote!
     
  12. tomcha

    tomcha New Member

    I like that quote.

    I know a lot of people don't like the word "failure" and want to stay away from it, but I really do think "failures" become the soil from which a bigger success is born. You learn so much from a "failure" provided that you have the right mindset than you ever would from a "success".

    Why am I using quotation marks around these words? Because I don't believe that there is such a thing as a "failure" or "success". These are just points in the journey that we choose to label. In other words, both of these are just part of the journey or process. They are results we get from doing something (hopefully something; it's much better than doing nothing).

    I think if we aren't careful, we can put a label on something and call it either a "success" or a "failure" and hold ourselves there as if it was the end of the journey. If that happens, we stop progressing and getting better. We stagnate.

    Just my personal viewpoint. Might help you, might not. If it does, then I'm glad. If it doesn't help you, kindly chuck what I've said out the window and find something that works for you.
    [​IMG]

    Thomas
     
  13. matiasmommy

    matiasmommy New Member

    Right ON Thomas! You have hit the nail on the head. I prefer the term "opportunity for improvement" over "failure" at the end of the day!

    Jani
     
  14. jlDunn

    jlDunn New Member

    Thomas, thanks you made me laugh.....[​IMG]

    I think "success" is something personal, it is something that you accomplished, and you must congratulate yourself for it, you must celebrate your victories, however minute they may be....and you must keep working closer to every success you have!

    I don't believe in failure - to me it is quiting, my husband calls it admitting defeat, but I disagree.....I only think it means I have to work harder, and be more focused!!

    I think it is all about building self esteem, and you can't do that with "Failure"[​IMG]

    Lindsay
     
  15. tomcha

    tomcha New Member

    Quoting: jlDunnThomas, thanks you made me laugh.....
    I wans't aiming for a laugh, but hey I'll take whatever positives I can get. [​IMG]

    Like I said, the above definitions are my personal ones and I know everyone will have different ones that work for them. If they aren't working, then it's time to drop them.

    For me, "failure" is not a real 'thing'. There is only success and learning. Like Jani and Lindsay both said, 'failure' is only an opportunity to learn what didn't work so that you can do something next time, hopefully that will bring a more favorable result.

    And if not, then hey, you learned something new again!

    I forget exactly, but didn't Thomas Edison try "unsuccessfully" close to 1000 times before building a working light bulb? When asked how he kept going after so many 'failures', he just replied that he never failed. He just learned 1000 different ways NOT to build the light bulb.

    Thomas
     
  16. screamingeagle

    screamingeagle New Member

    Quoting: matiasmommyI prefer the term "opportunity for improvement" over "failure" at the end of the day!

    I once read somewhere that when someone made a mistake they told themselves "What a great opportunity for improvement!"
     
  17. screamingeagle

    screamingeagle New Member

    Quoting: matiasmommyi don't know who got the idea in your head that there even IS such a thing as a "members only question"??

    When I was asking questions in the Global Theather, they mentioned that it was best to ask them during one of the member's only calls. I'm definitely not one to hold back questions [​IMG]

    "What do you first do when you learn to swim? You make mistakes, do you not? And what happens? You make other mistakes, and when you have made all the mistakes you possibly can without drowning - and some of them many times over - what do you find? That you can swim? Well - life is just the same as learning to swim! Do not be afraid of making mistakes, for there is no other way of learning how to live!" - - Alfred Adler
     
  18. matiasmommy

    matiasmommy New Member

    hey Robert!

    Hmm.. that is odd! Perhaps they were product questions best addressed on the product calls?

    We DO have the synergy solutions calls.. but they are meant to be for members already in the business. As I understand you are not yet a member, then I think somehow a wire got crossed? At any rate, I am sorry that happened to you. Everyone is human.

    Please understand, it is NOT our policy to only answer certain questions when they are posed by members in a members forum. As a prospective member, we encourage you to have all of your questions, no matter how small answered so that you can make your decision. I think perhaps there was another Robert who was a member asking a question related to running his business or that the leader thought you were already a member?

    At any rate, ask away!

    Cheers

    Jani
     
  19. screamingeagle

    screamingeagle New Member

    Quoting: matiasmommyhey Robert!

    Hmm.. that is odd! Perhaps they were product questions best addressed on the product calls?

    We DO have the synergy solutions calls.. but they are meant to be for members already in the business. As I understand you are not yet a member, then I think somehow a wire got crossed? At any rate, I am sorry that happened to you. Everyone is human.

    Please understand, it is NOT our policy to only answer certain questions when they are posed by members in a members forum. As a prospective member, we encourage you to have all of your questions, no matter how small answered so that you can make your decision. I think perhaps there was another Robert who was a member asking a question related to running his business or that the leader thought you were already a member?

    At any rate, ask away!

    Cheers

    Jani

    Hi Jani:
    I have signed up for the MAC System, Deluxe Edition. So, I believe I'm a member of the CSG. I haven't yet purchased any of the travel packages. I didn't even realize I was considered a member until I saw the "m" beside my name in the Global Theater.

    Thank You, I will keep on asking. I've actually asked more quesions on this forum than I've asked my director. I believe that the only reason for that is that when someone on here asks a question, it makes me think about something to ask, too. I've sent my director long lists of questions, too.

    Take Care,
    Robert
     
  20. matiasmommy

    matiasmommy New Member

    That is why then! Yup, you got it. Your MAC system is your membership in the CSG as well as your business and personal development solution. They thought you had also purchased your package!

    Feel free to get on the synergy solutions calls on monday and thursday evenings. They are on my never miss list! Lots of great support and brilliant brainstorming and idea exchange going on there!

    Cheers!

    Jani
     

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