BUSINESS GUIDE:5 Reasons Why People Fail in Business

Do you ever worry that your business will fail? It's hard to contemplate failure, especially when you're working so hard and want so much to be successful.
Considering failure is valuable, though, because the very ingredients that make for business failure can be transformed into business success.
Here are 5 ingredients that go into the mix of business failure, and how you can transform them for your own business success:
1. Unclear purpose
Here's the thing: the more clarity you have about what you want, the more likely you are to get it. In your business, having little or no focus on anything but making a profit results in scattered effort and less effectiveness. Ironically, it leads to less money too.
Transformation: Clear Purpose
Have you ever been part of something greater than just you and your self-interest? Feels great, right? The reason it does is that we are actually built that way. We are motivated, and can accomplish great things in service of something bigger than ourselves. It's no different for your business. Define your greater purpose. Define the impact you want to have in your business, your community, and the larger world. Then you'll have clarity and energy to do more with your business. You'll have the motivation to pull through tough times, for even greater success.
Communicate that impact purpose to your prospects and customers. People are drawn to businesses with a higher purpose.
2. Destructive thinking
A day at work filled with thoughts about imminent failure and negative perceptions of people's motives will drain you and your motivation, and ultimately, kill your business. Not only that, destructive thinking also negatively affects your health and even your life span.
Transformation: Constructive Thinking
Your thinking affects your actions in your business and everywhere else in your life. Optimistic thinking followed by persistent action leads to better results. If you're not naturally inclined that way, the good news is that you can learn optimism. Problems become less personal, the size of the problem more realistic, and the fleeting nature of problems more clear.
You can support your constructive thinking with a daily ritual that includes mindfulness (e.g., meditation, breathing exercises), visualization (mentally rehearsing your desired outcomes), and affirmations, including gratitude. Schedule your daily ritual in. You can do this in 15 minutes, and it will make a great difference, especially as a start to your day.
3. Unproductive action
Low productivity means you can be working all day for days on end without moving closer to business success. We're in a culture of busy-ness, and it's tempting to fill our hours without thinking too much about whether the actions are in themselves valuable.
Transformation: Productive Action
Productivity begins with focusing your actions on your impact. Will this help me to be more impactful? Is it aligned with my impact purpose?
A quick overview of powerfully effective strategies for productive action:
· Plan before you begin each day. Plan the night before if you can.
· Do the most impactful thing first, so you always have some progress each day.
· Rush unimportant tasks. Set a time limit on each job to help move you through it more quickly.
· Delegate. Allowing others the opportunity to offer what they do well in areas that are not your strengths is a great service to them, and a great time-creator for you.
· Segment your time, then rest. I work in 50 minute blocks, followed by 10 minutes doing something completely different to rejuvenate. Find the time frame that works for you.
No doubt about it, choosing productive actions requires discipline. And in the best way! Discipline serves you by helping you to choose the things that will help you reach your business goals and be successful.
4. Constricted connection
It can feel comforting to stick with your close circle and not expand further. It takes work to reach out and maintain new connections. Staying with your same small comfortable group, though, will hold you back in your business.
The quality of your connections matter too. Are you surrounding yourself with negative people? People who aren't as interested in success as you are? Who you spend time with matters.
Transformation: Expanding Circle of Connection
Expanding your circle of connection is one of the most powerful things you can do for your business success. The more people you know, the more likely you are to learn new things. They also become a source of inspiration, and more connections that can help you in your business. People love to be helpful. Give them that gift of asking for and receiving their help.
Find and welcome the support you need to be successful. Learn from an experienced business person as a mentor or coach. Reach out to people you admire and ask them questions. Make this a regular practice.
5. Money obsession
It can be tempting to become too focused on money. First, our culture encourages it. It's considered a good thing to accumulate stuff. And you need money for that. The thing is, money and stuff don't bring you happiness or vitality.
Second, if business isn't going well, you can become hyperfocused on money and leave your values behind in order to make a profit.
Transformation: Money Health
Instead of focusing on money, focus on connections with people and with your purpose instead. Helping others in your business is what will bring you business success that is both healthy and sustainable.
Find balance and harmony around money. Yes, it's important to know where you stand with money. But money is only a tool. Instead of loving money, love yourself and others. That is key to business success.
These 5 reasons why people fail in business don't have to be a recipe for failure. Instead, you can transform them into success.

BUSINESS GUIDE:Offshore Banking Services

Banking is one of the most important sectors of the world economy as it influences investment, consumption and other business activities. Furthermore, banking has a substantial impact on the circulation of money and thus influences economic growth. Offshore banking provides a unique opportunity to individuals, business people and companies to access the international market and implement their business and investment plans since offshore banking encompasses stronger privacy and security features. That is to say, the activities you launch through your offshore private banking are more confidential and secure. It should be underlined that you will be able to offer the same privacy to your customers together with other related benefits.
The procedures you need to follow in order to open an offshore bank account are not complex. In other words, every individual may open an offshore bank account within few hours. Note that each offshore banking jurisdiction has its own requirements. Among the most popular offshore banking centres are the Cayman Islands, Seychelles, Saint Vincent and Grenadines, Bahamas, Gibraltar and Netherlands Antilles.
BASIC REQUIREMENTS:
As it has been mentioned before, opening an offshore bank account is rather simple. The procedures you need to follow in order to open an offshore bank account are similar to the procedures you follow in order to open a bank account in your home country. First of all, offshore banks will ask for your personal details: name, date of birth, address, citizenship, occupation and submit a copy of your passport, identity card or any other identification document issued by a governmental authority. Second of all, you will have to verify you residence address by presenting a utility bill or any other document. It should be mentioned that all the submitted documents must be certified.
Some considerable benefits of offshore banking are:

• Minimised political risk. In many cases, the biggest threat is not the market risk but the governments, i.e. capital controls measures and bail-ins.
• Asset protection.
• Currency diversification. Holding foreign currencies leads to the minimisation of the risks you confront.
• More options for your business and investment plans.

JURISDICTIONS:
Cayman Islands:
One of the major advantages of the Cayman Islands is the political stability. The annual license fee is 9.000 US dollars. The international banking infrastructure is well-developed with many facilities. Another considerable advantage of the Cayman Islands is the zero taxation on international banking income. Nevertheless, the state's approach toward international private banks owned by non-banker is poor. Despite the fact the Cayman Islands have well-developed banking structures, the poor attitude towards international banks owned by non-bankers discourages many investors and business people to launch offshore banking activities in the Cayman Islands.
Seychelles:
The major advantage of Seychelles is confidentiality since state authorities have no direct access to bank information without a Court order. Note that Seychelles has double tax treaties with Barbados, Botswana, China, Cyprus, Indonesia, Malaysia, Mauritius, Oman, Qatar, South Africa, Thailand, United Arab Emirates and Vietnam. Furthermore, it should be pointed out that Seychelles has signed Tax Information Exchange Agreements only with the Netherlands.
Saint Vincent and Grenadines:
The country maintains a degree of flexibility and confidentiality that many bank owners prefer. In particular, confidentiality regarding the incorporation and the launch of business of an International Banking License has been ensured by the Confidential Relationships Preservation (International Finance) Act 1996 and by the International Banks Act 1996. Among the major advantages of Saint Vincent and Grenadines is the absence of exchange control restrictions to offshore transactions and stamp duties. Furthermore, there are no corporate taxes, no income tax, no withholding tax, no capital gain tax and no estate/inheritance/succession duties.
The country has political stability, well-developed international banking infrastructures and skillful labour force.
The International Banks Act 1996 issues the following licenses:

• Class I Offshore Banking License: The Licensee is involved in offshore banking activities outside the country. The minimum class requirement for Class I license is 500.000 US dollars.
• Class II Offshore Banking License: The Licensee is engaged in offshore banking with individuals or groups detailed described in a written undertaking. The minimum class requirement for Class I license is 100.000 US dollars.

Bahamas:
Bahamas is considered one of the most attractive international banking centres in the world because of its excellent communications systems and the frequent air and sea connections with the USA. In addition, the country has a well-developed banking secrecy legislation. It should be taken into account that there are no taxes on international banking income.
There are two types of licenses, the unrestricted and restricted license. The unrestricted license can be obtained by private individual given that they can prove that they have a considerably high net worth. On the other point of view, restricted licenses are granted to financial institutions. Note that a restricted license enables the holder to offer banking and trust services exclusively to a particular class of associated individuals or businesses.
Gibraltar:
Gibraltar is a full member of the European Union. Therefore, banks incorporated in Gibraltar operate under the same legal framework as the banks in the UK. Nevertheless, Gibraltar has some additional advantages such as the efficient and effective bureaucratic procedures. Moreover, banks may operate completely free of tax.
Netherlands Antilles:
The Netherlands Antilles have a well-established international banking secrecy legal framework. Among the main advantages of this particular jurisdiction is the absence of license fees for an international bank establishment. Moreover, the international banking infrastructure is good, with many attorneys and accounting firms which handle international businesses. It should be considered that there is a small amount of tax imposed on international banking income. Nevertheless, the government's attitude towards international banks owned by non-bankers is poor.