Submitted By: Lee Percival
Here are key indicators of how your business is doing. If you believe in repeat sales, referrals and strong support, then your business will grow, not dry up over time. Why? Because customers have a certain level of expectation when it comes to delivering your business to them. If they do not get what they expect, then chances are high that they will not return. Ever. So, how are you doing in these areas?
Keep Them Coming Back. Repeat business is invaluable, because you do not have to go through the initial vetting process on the part of the prospect. They already know how your business operates and feel comfortable in placing orders with you inside of the structure that you have set up. This is why you should implement an 800 number and PBX system into your business as soon as possible. The ability to present a unified and consistent way of contacting you gives your customers confidence in who you are and the way in which you operate.
Obtain Referrals. When you deliver at a high level, word gets around. In fact, referrals are common among businesses that have a strong reputation. Also, when you establish your business that attains to a high level of satisfaction, you can safely ask for referrals. Most clients are more than happy to make referrals since their own experience is positive.
One way you can encourage those who call your 800 number and PBX system is to place ‘on-hold’ advertisements which are actually short, to the point recommendations of your business by your existing clients. While this does not encourage those on the outside to call, it helps give confidence to those who are in your PBX system awaiting to be transferred or who are on-hold in order for you to check on an item for them.
Supply World-class Support. At no time is this more important than right now. With current economic conditions the way that they are, you cannot afford to lose business or miss out on business because support efforts are less than satisfactory. Going out of your way to help keep a client happy will keep them as a repeat customer for a very long time. Learning that sometimes you have to take a ‘hit’ for a mistake makes your customer all the more appreciative of the way in which you operate.
Making your 800 number and PBX system shine in the area of support means having an information presentation system by which existing customers can listen to fixes or suggestions to common issues that come up in the course of doing business with you. Then, providing a way in which they can talk to a real person with the ‘follow-me’ feature of your PBX system helps endear them to you more than ever.
With these principles, you can help your business continue to grow and thrive in uncertain times. Success rises to the top when attention to details is the hallmark of your business. Keep going and paying attention to these details. You will make it!
Tuesday, April 14, 2009
Sunday, April 12, 2009
How to Write a Winning Business Plan
Bill Bartmann
Lenders will look at your business plan and come to a conclusion that they can or cannot safely invest in your business. If you present them with a plan that shows a business that has great potential, then they are more willing to fund your business. They know there is a good chance that you will repay the loan, with a good return.
If you plan to enter into a partnership, then you must earn the trust of your partner, so he will be willing to invest time and money into the venture. Your business plan should demonstrate, clearly and concisely, your vision of how the business is going to look.
You can negotiate lines of credit with vendors if you show them a clear business plan. They will want you to succeed so that you become a regular customer; therefore, building their business.
Your business plan should demonstrate that you are serious and focused on your commitment to build a successful business. You need to demonstrate skills, knowledge, experience and what makes you stand out from the rest of the companies in your industry
So, how do you present all of this? The rule is “thin to win.” The more “wordy” you are, the less you know; the less you understand what you are getting into. An efficient business plan looks very crisp and clean, with easy to read font. Many experts have created many styles of business plans. Here is an overview of what should be in a business plan:
The Executive Summary is very important; it is the first part of the business plan; how well it is written and the message it conveys will determine the reader's interest in reading the rest. The Executive Summary contains:
• Your Vision Statement
• Your Mission Statement
• Goals
• Strategies
• Action Steps
• Table of Contents
Company Background - This section contains the name of the company, your personal history in the business, your experience and the stage of development you company is at. It's OK to disclose if you are a new start-up. Describe what makes your company unique, patents, trademarks, knowledge, experience and anything that sets you apart from your competitors. Do you have any industry advantages, a better system or are you in a prime location?
Products, Goods and Services - Here, you describe your products and services and how they benefit consumers. Demonstrate uniqueness, value and reasons why you feel more people will purchase from you than from your competition.
Market Analysis - This section will show your business as one with the capacity to survive; the ability to sell your product or services. You will be demonstrating your understanding of the economics of your business if you clearly describe the strengths, weaknesses, threats and opportunities that are part of your business. Being able to recognize where you might be weak and what you intend to do shows you thought things through. Recognizing possible threats to your business, like market trends, fads, advances in technology, etc… will also demonstrate good planning. Stating possible opportunities that can come from your business helps a lot too.
Marketing Tactics - Describe your retail techniques and pricing analysis. Show that you understand your market and how you determined the price of your goods or services.
Management Team - This section is about you and the key managers or department heads in your business. It does not contain long bios; just credentials and qualifications that are significant to your business. This section is also used to disclose how you compensate the key people in your business; their annual salary. You will also include staffing milestones here; if you plan to hire more people, when you plan to do so, and how many employees you project your company will grow to support.
Operations Plan - Here, you share more relevant information about your business and its assets, including plant and equipment; describe the physical facility. How much working capital is needed and how will it be spent? How do you plan to find quality help and train them to develop your labor force?
Financial Statements - If you have a history, here is where you put your Profit and Loss, Cash Flow Reports and Balance Sheet for each year. Also include future projections; what you think you will make in the next few years and how your numbers are realistic based on available data.
Funding - This section is a brief Loan Proposal. Provide a brief overview of your loan request; how much you need, the type of financing you want and the terms of financing desired. Lenders like to see that you have thought about the financial stability of the business and that you understand something about how financing works. Define the terms that will work in your business and how you came to figure this out. Will you require long-term or short-term financing? Will you pay monthly, quarterly or annually?
Use of Capital - What will you use the borrowed money for? Will it go toward the purchase or lease of a building, equipment, beginning inventory, operating capital or something else? How will this loan help you to be successful running your business to ensure your ability to repay the debt? Provide references to your previous funding history, loans you've repaid before. Provide business references in this section to give testimony of your past business practices; delivered as promised, performed excellent service, quick, timely, honest and dependable, etc...
Your business plan should distinguish you from your competition. It is a very important part of your Loan Proposal Document which will be used by lending institutions, private investors, potential partners and anyone that you will have a business relationship with who will want you to succeed.
© Bill Bartmann, Billionaire Business Systems
Lenders will look at your business plan and come to a conclusion that they can or cannot safely invest in your business. If you present them with a plan that shows a business that has great potential, then they are more willing to fund your business. They know there is a good chance that you will repay the loan, with a good return.
If you plan to enter into a partnership, then you must earn the trust of your partner, so he will be willing to invest time and money into the venture. Your business plan should demonstrate, clearly and concisely, your vision of how the business is going to look.
You can negotiate lines of credit with vendors if you show them a clear business plan. They will want you to succeed so that you become a regular customer; therefore, building their business.
Your business plan should demonstrate that you are serious and focused on your commitment to build a successful business. You need to demonstrate skills, knowledge, experience and what makes you stand out from the rest of the companies in your industry
So, how do you present all of this? The rule is “thin to win.” The more “wordy” you are, the less you know; the less you understand what you are getting into. An efficient business plan looks very crisp and clean, with easy to read font. Many experts have created many styles of business plans. Here is an overview of what should be in a business plan:
The Executive Summary is very important; it is the first part of the business plan; how well it is written and the message it conveys will determine the reader's interest in reading the rest. The Executive Summary contains:
• Your Vision Statement
• Your Mission Statement
• Goals
• Strategies
• Action Steps
• Table of Contents
Company Background - This section contains the name of the company, your personal history in the business, your experience and the stage of development you company is at. It's OK to disclose if you are a new start-up. Describe what makes your company unique, patents, trademarks, knowledge, experience and anything that sets you apart from your competitors. Do you have any industry advantages, a better system or are you in a prime location?
Products, Goods and Services - Here, you describe your products and services and how they benefit consumers. Demonstrate uniqueness, value and reasons why you feel more people will purchase from you than from your competition.
Market Analysis - This section will show your business as one with the capacity to survive; the ability to sell your product or services. You will be demonstrating your understanding of the economics of your business if you clearly describe the strengths, weaknesses, threats and opportunities that are part of your business. Being able to recognize where you might be weak and what you intend to do shows you thought things through. Recognizing possible threats to your business, like market trends, fads, advances in technology, etc… will also demonstrate good planning. Stating possible opportunities that can come from your business helps a lot too.
Marketing Tactics - Describe your retail techniques and pricing analysis. Show that you understand your market and how you determined the price of your goods or services.
Management Team - This section is about you and the key managers or department heads in your business. It does not contain long bios; just credentials and qualifications that are significant to your business. This section is also used to disclose how you compensate the key people in your business; their annual salary. You will also include staffing milestones here; if you plan to hire more people, when you plan to do so, and how many employees you project your company will grow to support.
Operations Plan - Here, you share more relevant information about your business and its assets, including plant and equipment; describe the physical facility. How much working capital is needed and how will it be spent? How do you plan to find quality help and train them to develop your labor force?
Financial Statements - If you have a history, here is where you put your Profit and Loss, Cash Flow Reports and Balance Sheet for each year. Also include future projections; what you think you will make in the next few years and how your numbers are realistic based on available data.
Funding - This section is a brief Loan Proposal. Provide a brief overview of your loan request; how much you need, the type of financing you want and the terms of financing desired. Lenders like to see that you have thought about the financial stability of the business and that you understand something about how financing works. Define the terms that will work in your business and how you came to figure this out. Will you require long-term or short-term financing? Will you pay monthly, quarterly or annually?
Use of Capital - What will you use the borrowed money for? Will it go toward the purchase or lease of a building, equipment, beginning inventory, operating capital or something else? How will this loan help you to be successful running your business to ensure your ability to repay the debt? Provide references to your previous funding history, loans you've repaid before. Provide business references in this section to give testimony of your past business practices; delivered as promised, performed excellent service, quick, timely, honest and dependable, etc...
Your business plan should distinguish you from your competition. It is a very important part of your Loan Proposal Document which will be used by lending institutions, private investors, potential partners and anyone that you will have a business relationship with who will want you to succeed.
© Bill Bartmann, Billionaire Business Systems
Business Planning (for nonprofits or for-profits)
Written by Carter McNamara, MBA, PhD, Authenticity Consulting, LLC. Copyright 1997-2008.
Adapted from the Field Guide to Nonprofit Program Design, Marketing and Evaluation.
Preface
Business planning is often conducted when:
- Starting a new venture (organization, product or service)
- Expanding a current organization, product or service
- Buying a current organization, product or service
- Working to improve the management of a current organization, product or service
There are a wide variety of formats for a business plan. The particular format and amount of content included in a plan depends on the complexity of the organization, product or service and on the demands of those who will use the business plan to make a decision, eg, an investor, funder, management, Board of Directors, etc.
Overall, the contents of a business plan typically aim to:
- Describe the venture (new or current organization, product or service), often including its primary features, advantages and benefits
- What the organization wants to do with it (buy it, expand it, etc.)
- Justification that the plans are credible (eg, results of research that indicate the need for what the organization wants to do)
- Marketing plans, including research results about how the venture will be marketed (eg, who the customers will be, any specific groups (or targets) of customers, why they need the venture (benefits they seek from the venture), how they will use the venture, what they will be willing to pay, how the venture will be advertised and promoted, etc.)
- Staffing plans, including what expertise will be needed to build (sometimes included in business plans) and provide the venture on an ongoing basis
- Management plans, including how the expertise will be organized, coordinated and led
- Financial plans, including costs to build the venture (sometimes included in business plans), costs to operate the venture, expected revenue, budgets for each of the first several years into the future, when the venture might break-even (begin making more money overall than it has cost), etc.
- Appendices (there are a wide variety of materials included in appendices, eg, description of the overall organization, its other products and/or services, its current staff, etc.)
Nonprofit readers might notice that a business plan is very similar to a well designed grant proposal. In addition to the above items, a grant proposal might include itemization of any deficits (when expected expenses exceed expected revenues), which indicates the need for funding from the particular funder to which the grant proposal is being submitted. Also, a break-even analysis usually isn't included in a grant proposal.
Quite often, an organization's business planners already know much of what will go into a business plan (this is true for strategic planning, too). However, development of the business plan greatly helps to clarify the organization's plans and ensure that key leaders are all "on the same script". Far more important than the plan document, is the planning process itself.
Sections of This Topic Include:
Basic Introduction for Nonprofits and For-Profits (and how to convert between FP and NP)For-Profit Business Planning (very similar to nonprofit business planning)
Nonprofit Business Planning (very similar to for-profit business planning)
Preparation for Planning a Business Venture (nonprofit or for-profit)
Basic Introduction (for for-profits and nonprofits)
Business planning is usually conducted when starting a new organization or a new major venture, for example, new product, service or program. Essentially, a business plan is a combination of a marketing plan, strategic plan, operational/management plan and a financial plan. Far more important than the plan document, is the planning process itself.Business planning usually includes a thorough examination of the idea for a new product/service, if there's really a market for it, who the competitors are, how the idea is uniquely positioned to be competitive and noticeable, how the idea will be produced to a product/service, how much it will cost, how it will be promoted, what overall goals must be accomplished, how the development and ongoing operations will be managed and what resources are needed (including money). As noted above, a business plan is a combination of a marketing plan, financial plan, strategic plan and a operational/management plan. Here are a variety of perspectives.
Note to Nonprofits -- to Translate For-Profit Plans to Nonprofit Plans
For-profit and nonprofit business plans are very similar. (Nonprofits have "sales", "markets", "competitors", etc, too.) Therefore, nonprofit personnel would benefit from reading the links in the section "For-Profit Business Planning". When reading about for-profit business plans:1. Substitute "balance sheet" for "statement of financial position"
2. Substitute "profit and loss statement" for "statement of financial activities".
3. Substitute "customer" for "client"
4. Substitute "investor" for "funder"
5. Substitute "product" for "program" or "services"
For-Profit Business Planning
Basics About Business Planning (including outlines of plans)
Be sure to also see "Comprehensive Overviews" belowBusiness Plan FAQ
Business Plan FAQ
Business plan basics
Business plan basics business planning resources
Comprehensive Overviews
Be sure to also see "Basics ..." aboveBusiness Plan Outline (FAQ's)
Writing An Effective Business Plan (comprehensive overview and links)
Business Planning (many, well-organized links to other business planning articles)
How to Write a Business Plan (comprehensive overview and links)
Sample For-Profit Business Plan
Sample business planoutline of a business plan
several sample plans
Nonprofit Business Planning
Basics
(Nonprofits would also benefit from reading the above major section "For-Profit Business Plans". See Converting For-Profit Plans to Nonprofit Plans.)Preparing Nonprofit Business Plan Nonprofit Business Solutions has some free information
has free info -- scroll down to bottom
Introduction and links to other resources
www.businessplan.org (for nonprofits)
Sample Nonprofit Business Plan
Another sample business plan
Another sample business plan
Nonprofit Business Plan Sample
Preparation for Planning a Business Venture (nonprofit or for-profit)
Before you start a major venture, there are several considerations about yourself that you should address. This manual guides you through those considerations. Then the manual guides you through the major considerations you'll have to address when you complete your business plan. The manual includes numerous links to other free resources as the reader goes through each section of the manual.Preparation for Planning a Business Venture
General Resources
Business Plan, Business Planner &Business Planning SiteBplans.com: The Business Planning Resource Center
Business Resource Center
SBA - Business Plan Outline - Updated September 1997
Entrepreneur's Help Page
5 Most Common Mistakes When Writing a Business Plan
Critical Steps to Writing a Business Plan
Our Top 8 PPC Search Engines for April, 2009
There are hundreds of Pay Per Click Search Engines you can buy traffic from. As this number increases, it becomes more difficult to determine which ones are worth your time using. That's where our Top 8 Search Engine list comes in handy.
We've narrowed down this huge list down to our favorites based on our own experience and user feedback. Let us know your experiences!
- Google AdWords - The biggest and best for volume, traffic quality and user interface. However the most expensive.
Get started for only $5. Detailed Google AdWords Review - Yahoo! Search Marketing - First GoTo.com, then Overture, now Yahoo! Search Marketing. Both high volume and quality with a few bargains still around.
Click here for a FREE $25 credit coupon.
- MSN AdCenter - A newly emerging big player with lots of leverage, and arguably the best quality traffic. Look out for an amazing keyword research tool as part of the package.
- MIVA - One of the best, yet more underated PPC search engines.
Get a FREE $25 bonus on sign-up by clicking here..
- SearchFeed - Strong ROI with a reasonable search volume. Geo-targeting available with 11 countries you can specifically focus on.
- Marchex AdHere - Get new visitors to your site in just minutes with Marchex AdHere PPC.
Sign up today and get $25 in free clicks.
- ABCSearch - Solid targeting, decent traffic sources, and good customer service.
Use this link and they'll match your initial deposit up to $100.
- 7Search - A smaller search engine with good quality traffic. Good interface.
They claim better ROI than either Google or Yahoo! because of their high quality traffic sources.
Monday, January 19, 2009
Seven Meeting Etiquette Rules Not To Forget
Business meetings are held for a variety of reasons, but one common characteristic is the sharing of information with others. As in dining, there are rules of etiquette that go along with meetings. I cannot believe the number of times I have been to meetings and some individuals in the room exhibit unprofessional business etiquette.
I recently was leading a meeting of business owners and managers who meet together to generate ideas and resources for growing their businesses. One person’s cell phone rang in the middle of a presentation and instead of silencing it, they answered the phone. Not only did they answer it, they carried on a conversation for a brief time. I was appalled at the lack of courtesy.
I think it would probably be true to say that most people in business are aware of etiquette rules for meetings but I thought I would share my top seven:
~~Do not put your Blackberry, Treo, or other email organizer on the table. What does this do? Every time an email is received it causes a vibration that is echoed through the table for the whole room to hear and causes as much a distraction as if the phone had rang. Turn it off.
~~Do not arrive late, make excuses to everyone while the presenter is speaking, and then go in search of coffee. If you arrive late, step in quickly and quietly while taking your seat. The less interruption the better.
~~Do not leave your cell phone turned on. This goes along with #1. We all know what an interruption this causes.
~~Do not talk on your phone during the meeting. Just in case you forgot to turn it off, do not answer the phone in the middle of a meeting.
~~Do not carry on a conversation while someone else is talking. I cannot believe the number of times I have witnessed someone trying to carry on a conversation with another in the middle of a presentation.
~~Do not come to the meeting unprepared. Prepared means in the way of carrying a pen, pencil, paper, notepad; whatever it takes for you to be ready if information is shared.
~~Do not make your presence known by making noises. Noises being pen or pencil tapping, paper shuffling, coughing continuously. If necessary, leave the room.
If you are a manager and have people who frequently display a lack of business etiquette, consider offering a mini-seminar to your department. Not only will it reinforce positive behavior but it will get your message across without you verbalizing it.
For those individuals hoping to aspire to a certain level in business, learn and practice good business etiquette. If portrayed correctly it will help to launch your position in business and you will always be a welcome presence with your peers.
articles by: Carole DeJarnatt
I recently was leading a meeting of business owners and managers who meet together to generate ideas and resources for growing their businesses. One person’s cell phone rang in the middle of a presentation and instead of silencing it, they answered the phone. Not only did they answer it, they carried on a conversation for a brief time. I was appalled at the lack of courtesy.
I think it would probably be true to say that most people in business are aware of etiquette rules for meetings but I thought I would share my top seven:
~~Do not put your Blackberry, Treo, or other email organizer on the table. What does this do? Every time an email is received it causes a vibration that is echoed through the table for the whole room to hear and causes as much a distraction as if the phone had rang. Turn it off.
~~Do not arrive late, make excuses to everyone while the presenter is speaking, and then go in search of coffee. If you arrive late, step in quickly and quietly while taking your seat. The less interruption the better.
~~Do not leave your cell phone turned on. This goes along with #1. We all know what an interruption this causes.
~~Do not talk on your phone during the meeting. Just in case you forgot to turn it off, do not answer the phone in the middle of a meeting.
~~Do not carry on a conversation while someone else is talking. I cannot believe the number of times I have witnessed someone trying to carry on a conversation with another in the middle of a presentation.
~~Do not come to the meeting unprepared. Prepared means in the way of carrying a pen, pencil, paper, notepad; whatever it takes for you to be ready if information is shared.
~~Do not make your presence known by making noises. Noises being pen or pencil tapping, paper shuffling, coughing continuously. If necessary, leave the room.
If you are a manager and have people who frequently display a lack of business etiquette, consider offering a mini-seminar to your department. Not only will it reinforce positive behavior but it will get your message across without you verbalizing it.
For those individuals hoping to aspire to a certain level in business, learn and practice good business etiquette. If portrayed correctly it will help to launch your position in business and you will always be a welcome presence with your peers.
articles by: Carole DeJarnatt
Business Holiday Gifts Shopping Guidelines
Holidays are nearly approaching and you only have few number of shopping days left Now is your perfect time to think about what you are going to give to employees, customers and clients to show how you really appreciate them.
They are the reason why your business is still on the run, and so it's time for you to give back. But before you begin to shop, consider some guidelines below that will help you select just the right business holiday gifts for them.
Make a holiday list. Creating your holiday gift list will help you determine who should be given a gift. The list should include names of the people you need to purchase gifts for. You can't have a right gift if it doesn't fit into your recipient's personality, therefore, you should think about each of your recipient's personality or interest, then set a budget for each one.
Do some research. Researching before hand will always be an advantage to any giver. In fact, one of the most challenging time to find a perfect gifts for loved ones, friends and colleagues is during Holiday season. So to avoid you from stress, consider researching first using the Internet, or perhaps reading some updated magazines and books.
Be creative. Explore your imagination and make use of your hidden talent and creativity. If you already have some information about your receiver's interest, you can then purchase thoughtful gifts that will show that you really put some time and effort in choosing the right gift. Be more creative by adding your own personal touch, or perhaps wrote a personal special message to let that person know that the gift was specially chosen for her.
Enjoy visiting other locations. There are lots of office supplies and hardware stores where you could find interesting business gift ideas. You might be surprised with other unexpected locations that could offer the same stuff as well.
You Christmas, however, will not be quite merry if you will do things like reinventing your gifts. If you have given the same business gifts each year, make sure you do not reinvent what others do unto you. Remember, important persons like your clients and loyal customers might look forward to your holiday present. Or, you do an overspending just to make an impression. You should always consider your budget before planning to buy gifts. Another one is by waiting too long to purchase the business gifts. If you have the time, you're more likely to come up with better ideas sooner rather then being forced to "pressure" shop later. Don't feel confined because your gift was already through before the holidays. If you are pressed for time or you really want your gifts to noticed, you may consider sending it as a New Year's gift which can make a welcome surprise to your receiver. Lastly, don't get stress over the holidays. Holidays are your great time to show clients, employees and customers that you really appreciate them. Don't get disturbed by thinking what perfect holiday business gifts to give because there are lots of great choices to choose from. Some of the most popular business gifts you may consider are engraved business card holders or cases, office desk accessories, personalized picture frames and photo albums, business gift baskets and many others.
articles by: Janet R.
They are the reason why your business is still on the run, and so it's time for you to give back. But before you begin to shop, consider some guidelines below that will help you select just the right business holiday gifts for them.
Make a holiday list. Creating your holiday gift list will help you determine who should be given a gift. The list should include names of the people you need to purchase gifts for. You can't have a right gift if it doesn't fit into your recipient's personality, therefore, you should think about each of your recipient's personality or interest, then set a budget for each one.
Do some research. Researching before hand will always be an advantage to any giver. In fact, one of the most challenging time to find a perfect gifts for loved ones, friends and colleagues is during Holiday season. So to avoid you from stress, consider researching first using the Internet, or perhaps reading some updated magazines and books.
Be creative. Explore your imagination and make use of your hidden talent and creativity. If you already have some information about your receiver's interest, you can then purchase thoughtful gifts that will show that you really put some time and effort in choosing the right gift. Be more creative by adding your own personal touch, or perhaps wrote a personal special message to let that person know that the gift was specially chosen for her.
Enjoy visiting other locations. There are lots of office supplies and hardware stores where you could find interesting business gift ideas. You might be surprised with other unexpected locations that could offer the same stuff as well.
You Christmas, however, will not be quite merry if you will do things like reinventing your gifts. If you have given the same business gifts each year, make sure you do not reinvent what others do unto you. Remember, important persons like your clients and loyal customers might look forward to your holiday present. Or, you do an overspending just to make an impression. You should always consider your budget before planning to buy gifts. Another one is by waiting too long to purchase the business gifts. If you have the time, you're more likely to come up with better ideas sooner rather then being forced to "pressure" shop later. Don't feel confined because your gift was already through before the holidays. If you are pressed for time or you really want your gifts to noticed, you may consider sending it as a New Year's gift which can make a welcome surprise to your receiver. Lastly, don't get stress over the holidays. Holidays are your great time to show clients, employees and customers that you really appreciate them. Don't get disturbed by thinking what perfect holiday business gifts to give because there are lots of great choices to choose from. Some of the most popular business gifts you may consider are engraved business card holders or cases, office desk accessories, personalized picture frames and photo albums, business gift baskets and many others.
articles by: Janet R.
Sunday, January 18, 2009
Methods of Time Organization For Consultants
Consultants are quite busy people who need to have an organized schedule each day. Here a few methods to help track time for consultants. Consultants can make more money and save time by tracking time and staying on schedule. Consultants are very important.
Use a organizer such a PDA. It is an electronic device that will help one stay organized and remind them of appointments each day. There is also the old fashion organizers that are cheaper and don't cost several hundred dollars.
Another great method is a little calender or a big desk calender. They can both help and give you advantages in helping you to stay on track by being able to glance at your schedule instantly. You can also do this with a PDA and or a regular organizer where you hand write.
Consistently keeping a schedule each and every day regardless of what is going on that day will help you. Don't get off track no matter what the week looks like in your schedule. You'll be glad that you're keeping a regular schedule. It will be a huge help. It will also lessen your workload and make your time more efficiant.
If all else fails then get a personal assistant to help you with appointments, run your errands, bring you your cup of coffee, and all those little things you do everyday that add up and waste your important time. Your personal assistant will bring great relief to your workload. A personal assistant is very important to have. They make life very much easier to deal with. A personal assistant will help make your life much less stressful as well. You will be glad that you hired an personal assistant. If you land a good one, they can be a valuble asset to have working for you. Make sure to pay them a decent salary and other benefits that is so good that they can't pass it up. Trust me, they are worth every penny.
One of the important things about staying organized is also making sure to schedule your vacation time or business travel far away on your calenders and other devices that you use to keep track of your time. Make sure to keep your personal assistant in the know concerning what your schedule is going to be like regarding your availability. This will help him or her in scheduling your work so it won't overlap and you won't get stressed out.
You can use your cell phone to help you with time management and keep track of meetings. Just about every mobile phone these days has an alarm clock. Familiarize yourself with it and use it. It will alert you in advance of important meetings and appointments. You just need to program your cell phone time management in advance. Cell phones are great and easier than the usual personal digital assistants are now days. Cell phones are almost as good as a PDA and these days many cell phones are an actual PDA as well.
You can use Yahoo to keep track of your time. It will alert you of certain appointments in advance and it's easy to do. Yahoo is an excellent method to use if you don't like PDAs or cell phones very much. Yahoo has excellent and easy to use instructions to keep track of your precious time..
Use a organizer such a PDA. It is an electronic device that will help one stay organized and remind them of appointments each day. There is also the old fashion organizers that are cheaper and don't cost several hundred dollars.
Another great method is a little calender or a big desk calender. They can both help and give you advantages in helping you to stay on track by being able to glance at your schedule instantly. You can also do this with a PDA and or a regular organizer where you hand write.
Consistently keeping a schedule each and every day regardless of what is going on that day will help you. Don't get off track no matter what the week looks like in your schedule. You'll be glad that you're keeping a regular schedule. It will be a huge help. It will also lessen your workload and make your time more efficiant.
If all else fails then get a personal assistant to help you with appointments, run your errands, bring you your cup of coffee, and all those little things you do everyday that add up and waste your important time. Your personal assistant will bring great relief to your workload. A personal assistant is very important to have. They make life very much easier to deal with. A personal assistant will help make your life much less stressful as well. You will be glad that you hired an personal assistant. If you land a good one, they can be a valuble asset to have working for you. Make sure to pay them a decent salary and other benefits that is so good that they can't pass it up. Trust me, they are worth every penny.
One of the important things about staying organized is also making sure to schedule your vacation time or business travel far away on your calenders and other devices that you use to keep track of your time. Make sure to keep your personal assistant in the know concerning what your schedule is going to be like regarding your availability. This will help him or her in scheduling your work so it won't overlap and you won't get stressed out.
You can use your cell phone to help you with time management and keep track of meetings. Just about every mobile phone these days has an alarm clock. Familiarize yourself with it and use it. It will alert you in advance of important meetings and appointments. You just need to program your cell phone time management in advance. Cell phones are great and easier than the usual personal digital assistants are now days. Cell phones are almost as good as a PDA and these days many cell phones are an actual PDA as well.
You can use Yahoo to keep track of your time. It will alert you of certain appointments in advance and it's easy to do. Yahoo is an excellent method to use if you don't like PDAs or cell phones very much. Yahoo has excellent and easy to use instructions to keep track of your precious time..
Saturday, January 17, 2009
Why Jewellery Party Businesses Fail
Jewellery party businesses are a dime a dozen. Every woman knows someone who runs parties; every woman has been to one at a friends house; every stay at home mom has thought of running her own parties to make some quick and easy money. It's one of the easiest businesses to launch, and one of the most likely businesses to fail.
Running jewellery parties is the offline equivalent of an eBay business. Anyone can get involved, and they can do so at little or no cost, with little or no business experience, and without anything resembling a business plan. There's no job interview, no skills requirements, and no large capital outlay. Just like eBay businesses, there is a small percentage of party organisers who make a reasonable income, an ever smaller percentage who do very well indeed, and a huge majority who cease trading after about six months, with little to show for it but a sense of failure and dissatisfaction.
Those who fail do so for a number of reasons, but the failure almost always follows the same pattern. The first party is dubbed a success, if not a great one. Turnout may have been good, sales solid, and a modest profit made. The second party is less of a success. Only half the number of women turn up (many of whom were at the first party), they purchase less, and the party organiser is lucky to break even. The third (and usually final) party is a complete failure. Turnout is in the single digits and no one stays long. They drink some wine, look at the jewellery on display, maybe buy one of the cheapest items because they feel they have to, and then leave.
At this point, the party organiser usually decides to throw in the towel. They lay the blame on the business model itself, the weak economy, or the difficulty in attracting crowds. They never place the blame where it truly belongs: at their own doorstep. Jewellery party businesses are businesses, not hobbies - just like an eBay business is a business, and an eCommerce store is a business. The fact that it's possible to start your business on a whim from your own home does not mean it can succeed on a whim. The same skills required to run successful bricks and mortar businesses are required to run successful party businesses.
So why do jewellery parties fail?
There are four main reasons for the lack of success of so many party businesses. They are: over pricing, selling to the same people at each party, sourcing only the cheapest of stock, and not changing or updating stock often enough. A fifth reason could be added, and it could be called the source of the other four. It would be: Not treating the business as a business.
Before getting involved in jewellery parties, you should ask yourself one question: Do you have, or are you prepared to learn, the skills needed to run a retail business? If the answer is no, your business will fail.
articles by: James S. WalshJewellery party businesses are a dime a dozen. Every woman knows someone who runs parties; every woman has been to one at a friends house; every stay at home mom has thought of running her own parties to make some quick and easy money. It's one of the easiest businesses to launch, and one of the most likely businesses to fail.Running jewellery parties is the offline equivalent of an eBay business. Anyone can get involved, and they can do so at little or no cost, with little or no business experience, and without anything resembling a business plan. There's no job interview, no skills requirements, and no large capital outlay. Just like eBay businesses, there is a small percentage of party organisers who make a reasonable income, an ever smaller percentage who do very well indeed, and a huge majority who cease trading after about six months, with little to show for it but a sense of failure and dissatisfaction.
Those who fail do so for a number of reasons, but the failure almost always follows the same pattern. The first party is dubbed a success, if not a great one. Turnout may have been good, sales solid, and a modest profit made. The second party is less of a success. Only half the number of women turn up (many of whom were at the first party), they purchase less, and the party organiser is lucky to break even. The third (and usually final) party is a complete failure. Turnout is in the single digits and no one stays long. They drink some wine, look at the jewellery on display, maybe buy one of the cheapest items because they feel they have to, and then leave.
At this point, the party organiser usually decides to throw in the towel. They lay the blame on the business model itself, the weak economy, or the difficulty in attracting crowds. They never place the blame where it truly belongs: at their own doorstep. Jewellery party businesses are businesses, not hobbies - just like an eBay business is a business, and an eCommerce store is a business. The fact that it's possible to start your business on a whim from your own home does not mean it can succeed on a whim. The same skills required to run successful bricks and mortar businesses are required to run successful party businesses.
So why do jewellery parties fail?
There are four main reasons for the lack of success of so many party businesses. They are: over pricing, selling to the same people at each party, sourcing only the cheapest of stock, and not changing or updating stock often enough. A fifth reason could be added, and it could be called the source of the other four. It would be: Not treating the business as a business.
Before getting involved in jewellery parties, you should ask yourself one question: Do you have, or are you prepared to learn, the skills needed to run a retail business? If the answer is no, your business will fail.
articles by: James S. Walsh
10 Tax Deductions For a Small Business
Almost 90% of small business owners overpay the IRS each year – do you want to belong to this category? We guess not! There are a number of tax deductions for a small business to take advantage of, and help save them money. Here are the top 10:
1. Auto expenses: If you use your car for business, or your business owns its own vehicle, you can deduct some of the costs of usage. If your automobile is used for both business and pleasure, only the work related usage of the vehicle entitles the business to a tax deduction. That means you must keep track of how often you use the vehicle for business, and add it all up at the end of the year.
2. Education expenses: Expense incurred on education, related to your current business, trade or occupation is another cost that can count towards tax deductions for a small business. Of course, there are strict guidelines to be followed - the expense must be to maintain or improve skills required in your present career and must be undertaken during the course of your job.
3. Legal and professional fees: Fees paid to lawyers, tax professionals or consultants generally can be deducted in the year in which they are incurred.
4. Business entertaining: If you pick up the tab for entertaining present or prospective customers, you may deduct 50% of the cost, while calculating taxes. This should be directly related to or associated with the business, and the entertainment must take place immediately before or after a business discussion. Remember to write down the purpose of the event on the receipt or bill.
5. Travel: Travel costs also count towards tax deductions for a small business. If you travel on business, you can deduct most of the expenses including the cost of air fare, car rentals, taxis, lodging, meals, shipping of business materials, telephone calls, faxes and tips. But if you take your family along, remember, you can only deduct your own expenses.
6. New equipment: Some small businesses can write off the full cost of assets in the year in which they are bought. You can deduct up to $108,000 for a single piece of equipment or from the cost of various items as long as the equipment is placed in service before the end of the year.
7. Interest on loans: The interest and carrying charges on business loans are fully tax-deductible. Be sure to keep good records showing that the money was really put into your business.
8. Moving expenses: If you move because of your business or job, you may be able to deduct certain moving costs that would otherwise be non-deductible personal living expenses.
9. Charitable contributions: Here’s an expense that serves two good purposes. Charitable contributions are allowed as tax deductions for a small business. When your business makes a donation, claim a deduction on the tax return.
10. Advertising: The cost of advertising your goods or services is also deductible as a current expense.
Finally, keep an eye open for the latest on tax deductions for a small business, since laws do undergo changes. Even more important is to ensure that your financial records are maintained well.
articles by: Akhil ShahaniGood Business Card Traits
Ionce read somewhere that all an entrepreneur needs is a great idea and a business card to succeed and that seems to still ring true today.
But, you can’t just have a plain-old business card. A bad business card is worse than having no business card at all. A great business card can be priceless if it brings you contacts and business you wouldn’t have gotten otherwise. So is your business card bad or good? Check out this quick list of good traits of business cards to decide. Your business card should:
Have your complete contact info. Your name and title aren’t enough. You need to let people know how to get a hold of you in the way that is most convenient for them. Make sure you have your: name, title, phone number, fax number, Web site address, email address and physical address. Oh, and don’t forget your business name! Sounds crazy, but when people are designing their business cards, some have forgotten to put their company’s name on there! (It’s all about me, me, me these days!)
Have your marketing message. This can either be your slogan or something shorter if your slogan is too long for small business card space. Use double-sided business card printing services to put your slogan on the back if the front of your card is crowded.
Be readable. Don’t print your text in a font size less than 10 pts for most fonts, like Times New Roman. Of course, different fonts are different sizes, so make sure to get a printing proof to make sure people won’t need to break out their reading glasses to read your card.
Also, be sure you pick colors that make your card easy to read. A gray font on white paper stock might be hard to see. Make sure your colors pop against each other so everything is easy to see.
Be the right size. If your business card doesn’t fit into a wallet or card holder, people will be more likely to throw it away. It can be slightly smaller than the usual 2” x 3” size or you can use a thicker paper stock, but don’t make it larger. It’s bound to get lost if it doesn’t fit somewhere convenient.
Have an interesting visual element. Whether this is your awesome-looking logo or just a great abstract design as the background of your card, you need something that will create interest. Many real estate agents put their photo on their cards, which works for them because they are selling a big-ticket item that requires trust in the salesperson. There’s much debate about whether a photo works on business cards outside the real estate biz. It’s your call.
Make good use of the front and the back. For whatever reason, when people get a business card or postcard, they turn it over to check out the back. I guess people just want to make sure they’re not missing out on something. Take advantage of this habit and put something useful on the back. If not your slogan, then maybe a six-month calendar or local emergency numbers. The latter will give people a reason to keep your card when they otherwise wouldn’t.
Friday, January 16, 2009
Managing Your Older Employees
ealing with multigenerational employees is an art in itself. Young workers want to make a quick impact, they seem to be more up to date, more prompt and more energetic; while the older employees bring an entirely different perspective. They are, in general, more trustworthy, more dedicated and they seldom violate rules.
Now if you are a young entrepreneur, you might find it tough to manage your older employees. Very often, your views on various business issues may differ; at some point of time, you might feel that there is a skill shortage in your elderly workforce; or being more experienced, some of them might try to assert their “supremacy”. Although this might seem a petty workplace issue, you can only live with it for some time. Here are some simple ways that can help you bridge the gap between yourself and your older employees.
1. Don’t hide your weaknesses: An elderly and hence experienced employee can often point out your mistakes correctly. In that case, don’t get defensive. If you do so, it will highlight your weakness and show you up as immature. Remember, there is plenty to learn from the older generation, even if you are their boss!
2. Be a listener: Just because the business is yours, you don’t always need to act as if you know everything. Especially when it comes to your older employees, this kind of attitude will not engender their respect towards you. Value the experience of those who are known to be efficient. A good listener of good, valuable advice always wins. You can also teach your young employees not to hesitate to take their seniors’ help.
3. Create a perfect team: Your first and foremost job is to form a team whose mission is to achieve a common goal. Each and every team player should know that he or she can reach the target only when working together, regardless of and disparity in age. Further, being the team leader, treat all equally and encourage not only your young workforce, but also the older generation to ask for help (even from the juniors) when needed.
4. Provide seniors with training: To avoid skill shortages, you need to provide your older workers with training. Very often, older employees in particular, get overlooked for training. Most employers believe elderly people are typically resistant to change and difficult to train. These are the biggest myths! Research shows that older learners are keener to learn and are as capable as their younger counterparts when it comes to grasping new skills. They love the challenges that come with mastering new tricks.
It is also a fact that employees aged over 50 are likely to stay with their current job until retirement. Hence, it is wiser to incur the cost of training on them, rather than on younger employees who are waiting to move jobs.
5. Be flexible: With age, come limitations that may not allow your older employees to work full time. In that case, consider options like flextime, part-time work, seasonal or contractual arrangements. You can also allow them to work from home. All of these will go a long way in helping you retain your valuable older workforce.
Effective utilization of the expertise and knowledge of older workers can be of great advantage to any company. However, it is little tricky to tackle elderly people, especially when the boss is much younger. Warren Bennis, eminent Professor of Business Administration at the University of Southern California, says that when managing older workers, a younger manager should imagine how his or her parents would feel being led by him or her, as a way to better understand the sensitive issues concerning the relationship.
articles by: Akhil ShahaniManaging Business Data: Putting Information to Work
So you think of yourself as a diehard entrepreneur. The guy with the big dreams, the vision, breathing fire and brimstone, passionately leading troops from one venture to another! Wake up, pal. Your desk is overflowing with unread reports, the hard drive on your computer can take no more data and your geeky whizkid IT manager has given you such a complex sales update, even Einstein would find it a challenge….
Read more articles by: Akhil Shahani
Have you noted the irony of life? How often have you wished you had more information on which to base crucial business decisions, yet cannot deal with the data you already have. Managing business data is a BIG challenge, a task of Herculean proportions. But, as usual, we’re going to make it easier for you.
Business data comes in unending variety! Whether it’s informal market intelligence gleaned by an enterprising sales executive, a gut feel for something based on past experience, or hard data neatly arranged into spreadsheets of a gazillion megabytes – it’s all worth nothing unless managed the right way. By that we mean the data should be in the right form, right place in the right hands at the right time! You’re thinking that’s an impossible dream? Don’t bet against it, we say.
Let’s start at the beginning. What do we mean by the term “managing business data”? Let’s skip the jargon this time, and get to the point. Managing business data essentially refers to organizing and manipulating it in such a way that it becomes “information” – that which is capable of generating insight. Think of data as the raw ingredient, information as the processed product.
The first step to managing business data is to compile and organize it. In the good old days you probably used an indexing or filing system, now you use databases. Database management software helps you arrange the raw data into neat little tables, which not only makes subsequent access and updating easier, but also enables de-duplication. Databases are wonderful things – you can query, sort and even perform calculations using them. There’s hardly an area where a database cannot be put to good use – inventory lists, customer data, sales and revenue numbers….even weather information! The great thing about managing business data using these tools is that they help to correlate information that may come from different sources – for example, a single production job number can be used to link input raw material, work in progress as well as items ready for dispatch.
Needless to say, the structure of the database is all-important, and that is why one needs special expertise to get it right. Fortunately, there are plenty of tools available to assist you. Visit PrimaSoft’s website to see some examples.
While creating a database is the most sophisticated and efficient way of managing business data, there are times when that is neither feasible, nor applicable. Say you’re working on a new business plan. You will probably use a spreadsheet to perform calculations for projections and payback. Spreadsheets are great for intensive number crunching, but are obviously not the ideal tool for managing large volumes of data. Similarly, you might want to prepare a manual or report that a number of other people are expected to use. The obvious tool for managing business data, which in this case is either a “process” or general information, is a word processor. When it comes to communicating with others, there is no substitute for the written word. On the other hand, if it’s a certificate, legal or mandatory original document, there is no other option than to file it away safely in a binder! Office Depot has an array of accessories to tempt just about anyone who needs files, folders and other supplies.
Whatever be the final form, the key to managing business data effectively is to ensure that it serves the following objectives:
• The information is captured accurately
• It is easy to retrieve and update, and satisfies most requirements
• It is laid out in a manner which is instinctive to use
• It is accessible to all those who need it
AND most importantly, all the users know where to find and what to do with it!
Read more articles by: Akhil Shahani
Accounting Outsourcing - The Efficient E-commerce Solutions
There are various departments in a company including human resource, IT, marketing, and finance that join together to run a company successfully. Personal business venture is the only resource that generates huge monetary income and this is the reason why most of the people want to vest their capital into it. A business organization has to handle wide array of inventories, billings, forms, account and project details. These all functions require diligent and efficient work force which can work consistently.
Accounting is the main section of a company where all the billings, marketing expenses, payments to employees, and other expenditures have to be recorded and managed on day to day basis. And, it’s practically not possible to maintain and pay a large work force for sole purpose of accounting. At this junction accounting outsourcing comes into play.
There are many offshore vendors available online who are ready to offer competent services for accounting outsourcing. At present major chunk of American business sector is availing the accounting jobs from online vendors and had eased off the burden of spending huge amount in employing large work force for the same work that can be done by outsourcing in lesser amount.
The labor charges in America are soaring high so in order to combat this adverse situation companies have been recruiting outsourcing services for all kinds of business purposes. The outsourcing vendors across the world have been successfully rendering accounting outsourcing accurately and efficiently. Many third world nations like India and china perform the same work in much lower cost in comparison to western countries. They have employed expert set of accounting professionals who have great acumen in handling finance details and account matters.
Before you get linked with some outsourcing company make sure that you have gone through all the terms and conditions. This will help you in safeguarding yourself from fraudulence in business deals. Most of the outsourcing companies ensure you beforehand about the security measures they take for your accounts data and details. Every successful business knows and understands the significance of accounting outsourcing and for this reason it is really important to entrust your work to that outsourcing vendor who guarantees the security, safety, and timely submission of your work.
Some of the companies have specialized software and the set of professionals as well who are well equipped with knowledge of handling the accounting work efficiently but not all of them. For them outsourcing companies have become a blessing as they perform the same functions in the most cost-effective manner. You can literally have customized and modified accounting outsourcing done by expert accountants who have gained great experience in the field.
And, the best feature of outsourcing services is that due to the online communication facilities you don’t feel like left out and your work being passed into some unknown hands. You can communicate with the vendor whom you have assigned your accounting work on regular basis. You can also ask for the financial advices and solutions regarding the financial transactions of your company.
Article Tags: business, outsourcing, work
Read more articles by: Allies Harbor
Subscribe to:
Posts (Atom)
