Jul 082010

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1. Seek Outside Funding

If you’ve been going it solo with your own savings or credit, considergraduallybuilding funding from external resources. Sources of funding include angel investors (wealthy individuals eager to finance promising start-ups), loans and lines of credit, small business loans, and vendor financing. Many entrepreneurs seek loans from friends and family members, but there’s always the potential for strained relations should your business fail. The key when it comes to borrowing is to not bite off more than you can chew.

2. Hire Cautiously

A bigger crew doesn’t make the ship more seaworthy. Remember that you want yourprofits to grow, not necessarily the number of employees on your payroll. Bigger is not always better in business, so hire with caution. Consider outsourcing work to independent contractors when possible, and hire new employees only when your existing internal resources have been exhausted.

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A public relations plan doesn’t need to be expensive. You can achieve positive publicity for minimal cost and maximum impact using a few simple tactics. Submit a press release to local newspapers with an intriguing headline about your company, or write a letter to the editor about an issue that relates to your business. Offer to speak to civic, church and professional organizations about your area of expertise. Donate your company’s products or services to volunteer groups at high-profile events. The more frequently a person sees the name of your business, the more likely they are to eventually patronize it.

4. Consider a Pay Cut

A temporary reduction in your salary could offer long-term benefits if your business is strapped for cash right now. When profits increase, you can adjust your paycheck accordingly.

5. Pinch Pennies

Don’t splurge on fancy furniture or high-end gadgets and gizmos that aren’t absolutely necessary for your business to function. Lease as much equipment as you can — the payments are tax deductible and you won’t be tying up precious operating cash. When a couple filing their taxes separately, click here https://taxfyle.com/blog/im-married-but-can-i-file-my-taxes-married-filing-separately/ it will helps you to protect a tax return. Check out the deals on used furniture and discount supplies. It’s tempting to make your business look and feel like it’s been booming for years, but plush surroundings do not guarantee profits. Focus now on producing quality products or providing a superior service — the company jet can come later.

 Posted by at 9:06 pm

  8 Responses to “The Revealing Truth of the Money Trail of EWG”

  1. Thanks for helping spread the word! You raise a very good question about the staffing relationship between the EWG and EWG Action Fund.

  2. Fascinating stuff. I will pass this link on to anyone I can get to read it.

  3. Interesting… Personally I am not shocked by the salary amts, maybe I’;m jaded but those don’t sound excessive for the top employees of an organization. But I suppose I don’t know much about what non-profit salary schemes tend to be like, and maybe those numbers are out of line.

    It is alarming if EWG is being dodgy with their money, and does bring up questions about their ethics in other areas… but this also doesn’t necessarily mean they’re wrong about their claims regarding cosmetic products. You have planted a seed, though, and I’ll keep an eye out for more info on the EWG.

  4. Over half of an operating budget for staffing of a supposed non-profit is unacceptable unless it has highly specialized staffing requirements (like museums and art/theatre/sports programs that benefit society in general). I have read many of the “studies” by the EWG (actually, they’re mostly literature reviews, not clinical or scientific studies), and I can say that their staff is not specialized enough (i.e. you’re right- they don’t have the scientific background) to be making these claims or the amount of money that they make. I can certainly say some very highly regarded chemists in the cosmetics industry don’t make even a portion of what these people make. It seems like the EWG is in the business of keeping itself in business, duping the public at the same time!

  5. @ Marcy, I totally agree that the shady finances do not mean that the EWG are wrong about their claims for the dangers of cosmetics. However, when you consider that their favourite weapon against anyone who disagrees with them publicly is “vested interest”, whether this actually be true or not, as an attempt to undermine the credibility of the challenge to their “authority”, it is pertinent to realise the depth of the vested interest of the top employees. Alex Formuzis ($120k) has been particularly fond of this tactic in discussions on the aforementioned Personal Care Truth site. When challenged about his own vested interest, he avoided the subject – another favourite EWG/CFSC tactic.

    If you do feel that the EWG may have a point, may I suggest that you check out the PCT site, and specifically, my two posts:

    Skin Deep – Scratching Below The Surface
    The Truth, The Whole Truth, or Anything But The Truth

    These cover different aspects of the EWG and CFSC – and I don’t have any vested interest!

  6. Here’s a link to the site hosting Dene’s blog posts. You’ll find other thoughtful information there surrounding this issue, as well.


  7. I would like to see more transparency in EWG and CFSC!
    Kayla, I too worry about loss of customers. We can only hope that while loosing some we will gain more. Thanks for taking risks.

  8. […] Links: 3 Reasons the EWG is a Dubious Resource Truth of the Money Trail The Tides Center Who is the Environmental Working Group? Environmental Working Group Small […]

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