Hit a snag lately? Haven't been able to recruit any new agents? Is you network marketing job paying less and less because you can't generate any sales? You don't have to fret! With these easy network marketing tips, you can revitalize your sales pitch and methods in no time at all!
1. Contacts
Remember that your contacts are your most valuable asset. Who are your contacts? The people you see on the streets? Your next door neighbor?
When considering whom to invite, try those closest to you first. This is because they are most likely to be more open to your suggestions and will be willing to do you a few favors (such as buying that detergent you are hawking). The great thing about this is that they will really mind plunking a few bucks to help jumpstart your business. And when they see that you are doing well, they could very well join you as well.
When you run through the whole list of you clan, what will that leave you with? You will of course have to go to those people that next in line with regards to closeness or affinity to you. And what if that gives out too?
You can always adopt a friendlier stance and chat up that neighbor you never talked to. You could meet new people on the bus and on the train. But remember, you have to like them as people first. Don't go about and look at them like walking piggy banks. People will know if they are being looked upon as ‘things.' Always regard them highly and get to know them. Build their trust. The truth is, the friendships you build will be the true reward, and the sales will be just a side dish.
Always ask for referrals from your contacts. This is another sure way to increase your prospects.
2. Believe
If you yourself do not believe in your product, chances are you won't be able to sell it to others. Remember, nothing promotes a product better that a satisfied customer. Let others see you using the product. Say glowing things about it. And most of all, let all that you say be true. If your customer finds out you weren't being honest, you could ruin your business relationship.
When you choose a network business, take into consideration their product. See if you can believe in it and pitch for it effectively.
3. Recruit the right people
Don't just recruit anybody. Make sure the people you recruit share an unbridled passion, and tireless work ethic with like you. If you don't chances are, they will drop out of the networking business and you will not be able to build your downline.
4. Don't force the issue
When trying to close a sale, don't force the issue. If you do, people will get suspicious as to why you are doing so. Are selling them counterfeit items? Are you only interested in your profit and not in your customer's satisfaction? Always keep this in mind: the customer always comes first. Please them, and the profits and windfall from these relationships will follow.
5. Look the part
When recruiting others, you can't say, “You will get rich with network marketing,” and look shabby all the while. They'd say, “I thought you got rich from this thing, why do you look like you didn't.” People will want to see a visible sign of success. You are their only reference point. If you are not convincing as a successful networking agent,
6. Hang in there
Perseverance is a virtue. If money grew on trees, you'd still have to wait for them to grow. Remember the old adage: try and try, until you succeed. Remember that your goal is not to just to get money, but to build upon a good income generating business.
7. Evolve
Don't be satisfied thinking that your techniques at recruiting will forever be effective. Although there are basic principles that should be followed, you can forever improve on your techniques. Today's society is constantly evolving. If you want to catch up with them, you have to evolve in your marketing strategies as well.
Try ‘Em
Try these tips. They are sure to give you more confidence in your network marketing strategy!
Friday, October 17, 2008
How to Buy Wholesale Store Fixtures for Your Business
It may sound funny, but honestly, if you're opening up your own retail store the last thing you'll ever want to do again for the rest of your life is buy anything retail -- especially if it's for your own store. Buying your store fixtures wholesale is not only mandatory it's a last resort after you've tried buying antique fixtures at a fraction of the cost. Even if you've hired a top-notch retail store designer, he or she should be buying your fixtures and other materials at prices even better than wholesale. The designer should be charging for his services and not making a markup on the raw materials.
If you're setting up your store by yourself, you have to shop around to know the best wholesale prices to pay for your fixtures. But expect to pay full price for the design and manufacture of items that must be custom-made for you. For example, if you want a certain look imitated in a new material you can expect to pay a premium for that service as well. But if your tastes are not too esoteric and if your product can be handled tastefully in a variety of attractive displays you should have no trouble finding the right fixtures at the right wholesale prices to fit your budget. Research and flexibility is the key here. After all, whatever it is that you are selling, you wouldn't pay retail for it, so why pay retail for the fixtures?
There are numerous store fixture wholesalers in and around every city in
America. There are enough stores in existence in any major city and enough new ones opening up to make the wholesale market for fixtures a healthy and competitive one. Visit them, get their catalogues when you are planning the look of your store and ask them about closeouts and discontinued items for sale. Their business, like yours, changes with the seasons, the trends and technology. Give yourself time to make your purchase and you may end up getting the fixtures you've been wanting at prices even better than you expected.
If you're setting up your store by yourself, you have to shop around to know the best wholesale prices to pay for your fixtures. But expect to pay full price for the design and manufacture of items that must be custom-made for you. For example, if you want a certain look imitated in a new material you can expect to pay a premium for that service as well. But if your tastes are not too esoteric and if your product can be handled tastefully in a variety of attractive displays you should have no trouble finding the right fixtures at the right wholesale prices to fit your budget. Research and flexibility is the key here. After all, whatever it is that you are selling, you wouldn't pay retail for it, so why pay retail for the fixtures?
There are numerous store fixture wholesalers in and around every city in
America. There are enough stores in existence in any major city and enough new ones opening up to make the wholesale market for fixtures a healthy and competitive one. Visit them, get their catalogues when you are planning the look of your store and ask them about closeouts and discontinued items for sale. Their business, like yours, changes with the seasons, the trends and technology. Give yourself time to make your purchase and you may end up getting the fixtures you've been wanting at prices even better than you expected.
Preparing Yourself Mentally for Business
Preparing Yourself Mentally for Business. People say that starting your own business is difficult. Guess what? They’re not kidding. Starting a business, in abounding ways, is a lot like accepting a adolescent – and would you just accept a adolescent after cerebration it through first? Afore you get started, there are lots of things you charge to anticipate about and altercate with anyone you can.
Can You Allow to Fail?
You ability accept heard the old adage ‘only action what you can allow to lose’. Well, about you access it, starting your own business is still gambling. A massive allotment of businesses abort in their aboriginal year. If your banking bearings is such that you agonise over every baby bulk you spend, starting a business is apparently a bad idea.
Put it this way: do not apprehend to succeed. Apprehend that you will fail, and consistently try your hardest not to. You’ll be abundantly afraid if things go your way. Note that this doesn’t beggarly that you shouldn’t accept in yourself and your business – artlessly that you accept to realise the affectionate of allowance you’re up against, and break realistic.
Will You Stick at It?
You can’t get center through all this and accept a abrupt change of heart, or feel like you’re bedevilled to fail. All acknowledged business absorb affluence of time accomplishing abominably afore they alpha to aces up. You charge to adapt yourself for a abiding beck of abortion getting boring replaced by success. Don’t apprehend the apple all at once.
Could You Yield the Stress?
Starting a business is one of the a lot of demanding things you can do. It will affect you mentally, physically and emotionally. You charge to be able to accord with this affectionate of stress, and you charge to accept anyone to about-face to for support.
Are You a Survivor?
There are some humans who consistently assume to accomplish it in the end, behindhand of what activity throws at them. You charge to be the affectionate of being whose acknowledgment to things traveling amiss is to plan harder and get it fixed, not anyone who cries and goes into hiding.
Many entrepreneurs say that this, added than anything, is the abstruse of success. You charge to be a ‘never say die’ affectionate of person. You charge to be consistently accessible to try again, no amount what gets befuddled at you. Bethink that it’s not if things alpha to go amiss that you abort – you haven’t bootless until you’ve accustomed up.
Be Prepared to Plan Hard.
If you’ve been accomplishing a accepted nine-to-five job, you’re apparently acclimated to a apple area it’s anyone else’s albatross if the plan doesn’t get done – you plan as fast as you can for the hours you’re told to, and if it’s not done on time again it’s the manager’s accountability for not hiring abundant people. If you plan on your own, though, there’s no-one to accusation – the blade stops area it starts, with you.
You Charge to Satisfy Every Customer.
When you run a home business, you can’t allow to lose any customers. You charge to consistently be nice to them, aggravating to accommodated their needs. You accept to bethink that you’re the a lot of chief being they can allocution to in this organisation, and you accept to act like it – if there’s no-one added than you to handle complaints, you accept to either accord in to barter at every befalling or watch them yield their business elsewhere.
Do You Absolutely Adulation What You Do?
If you don’t adulation what you do, again eventually or after you’re traveling to wish to stop accomplishing it – and if you run a home business, that’s difficult. Besides, you can’t run a home business if you’re consistently sitting and cerebration about how abundant it’ll be if it’s the weekend. No, the alone way to accomplish in home business is to be in fact abiding that you absolutely adulation what you’re doing. If you can anticipate of addition job you’d rather have, again you’re in trouble.
Think of it this way: could you run up to anyone on the artery with a advertisement about your business, and acquaint them all about it in a way that would absolutely leave an impression? It doesn’t amount whether you in fact could or not – if you anticipate anybody will be interested, then, accept me, they will be.
Home Cleaning Business Plan
Until about 10 years ago, business advice guru's used to say that the best business to be in was the one you knew most about!
That statement is disputable. And, even if it were true then, it certainly is not true today! Here's why:
No matter what skills you have or what trade or profession you are in, the amount of money you can earn is severely limited by the number of hours in the day you can work. Aha!
So now we can say:
A better business is one in which you can recruit and train others to do what you can do. This leaves you free to manage and grow the business,
Even so, we still can't say that it is best business to be in. We can't say it because some trades and professions have much higher billable hourly rates than others.
Copywriting, and especially direct-response copywriting, is undoubtedly one of the highest paid professions in the world!
Copywriters tend to be pretty smart. A copywriter and an attorney are discussing fees:
Lawyer: "My fees start at $150 an hour."
Copywriter: "I charge from $1 a word."
Lawyer: "Wow! I can't think of any word worth a $1.Gimme an example?"
Copywriter: "Gimme a $1."
Lawyer: "Okay. Here's your $1."
Copywriter: "THANKS!"
So, is copywriting the world's best business to be in?
I say NO!
I say Info-Marketing on the Internet is undoubtedly the world's best business to be in!
It doesn't necessarily have to be an e-book that reveals copywriting
secrets and a list of words that sell. Although that would sell well to a
business-2-business market. But it does have to be an info-product that's designed to satisfy the needs and wants of a specific niche market.
Simple, huh?
Well, not exactly. If it were that simple, everybody with a how-to info-book and a direct-response website would be rich.
As I see it, only about 5% of Internet sites make millions. The remaining bunch of hopefuls is still struggling.
Jeff Walker, Product Launch a leading Internet marketing expert, says:
"Everyone has heard the story of the Internet being paved with gold... but only a precious few are bringing home that gold. There are thousands of websites that won't even break even. Most of those sites are moribund... sitting there with products that don't sell. They will wither away, and then get blown off the Internet like some dried-up piece of tumbleweed."
Internet marketing expert, Cody Maya, Private Label Books, says,
"The average cost of a copywriting project is $5,000--and that's just for one sales letter. You need three things to succeed on the Internet:
#1. You need a great product.
#2. You need to be able to get traffic to your site.
#3. You need to be able to convert those prospects into customers."
Internet marketing is great. It is not cheap. It is not easy and the learning curve for the average Joe Schmoe is mind-boggling.
It takes a high degree of sophistication, and a lot of money to buy the kind of tools that will enable you to put your business on Auto-Pilot, "while you lie on the beach in Hawaii with your laptop and make a ton of money even while you sleep."
Yanik Silver, one of the top guns in Internet Marketing told me he spent nearly $50,000 (a ton of money) on new products and doing research last year!
So, I need to qualify what I said earlier about selling an info-product on the Internet. Here's my revised statement:
"Selling an info-product on the Internet to a well-defined niche market is the world's best business to be in--for those who know what they are doing and have the money to do it."
So, you can't just fly into flying.
You think big but you start small!
You have to learn to walk before you can learn to run!
Some 30 years ago, self-made multi-millionaire Joe Karbo stated a very simple truth:
"Most people are too busy working to make
a living to ever make more than just a living."
In his book, "How to Be Rich," the late billionaire J. Paul Getty said that the only way to get rich is to start your own business and work at making yourself rich, rather than your employer!
For over 20 years I have been searching to find an "idiot proof" business that could be launched by the average Jack or Jill--and with no previous business experience and little or no capital to invest.
I managed to identify seven businesses that fit that bill.
Here's my list--not necessarily in order of merit or profitability:
1. Home and Office Cleaning
2. Handy Person Service
3. Window Washing Service
4. Publishing a Local Ad Magazine
5. Computer Instruction and Repairs
6. Painting and Decorating
7. Leaflet Distribution
8. Mobile Haircutting and Beauty Service
9. Lawn Cutting and Yard Maintenance
10. Taking Care of Snowbird Vacation Homes
I have written a how-to business instruction plan for each of the above.
Here's what I have to say about the Home and Office Cleaning Biz:
You could be your own boss--starting today!
"10 Powerful Reasons Why Home and Office Cleaning
is One of the World's Best Businesses to Be In"
1. Low start-up cost.
2. You can work part-time or full time.
Keep your day job if you have one. Work evenings and weekends. Don't quit your day job until you are sure you can make more working for yourself than your employer.
3. No Hard Selling Involved
The service virtually sells itself because 98% of housewives hate housework so much they jump at the chance of having a "maid" come in to the do all the dirty work.
4. Unlimited Demand For the Service
Today, as more and more women go out to work, they have less and less time to do housework and look after a husband and a family. If they can afford it, they jump at the chance of hiring a trustworthy and reliable home cleaner.
5. High Hourly Rates
The standard minimum age is a miserly $5.15 an hour. The average hourly rate for cleaners is $25 an hour. That's more than four times the minimum wage. Average means that some cleaners charge a low of $20 an hour and others charge a high of $30 an hour.
6. No Special Skills or Training Required
Either you know what to do or the house owner tells you what she wants done.
7. The Target Market is Local and Very Easy to Contact
8. Hot Prospects are Easy to Identify
People who can afford to hire a cleaning maid live busy lives. They own large homes with two or more garages. They reside in up-market suburban areas.
9. Very Simple and Inexpensive Marketing Plan
The three best ways to get new customers as regulars are:
One: Referrals from existing customers.
Two: Leaflet Distribution.
Three: Using a tested and proven telephone script designed not to sell the service, but to make an appointment to call and give a free estimate. Done right, the level of acceptance is a high 86%.
10. Unlimited Growth Potential
While you can make $1,000 a week doing two, four-hour jobs a day for
five days a week, the way to make really big money is not to do any of
the work yourself!
The trick is to hire others to do all the cleaning work.
This leaves you free to concentrate on managing and growing the business.
As the Holly Noble, owner of a San Diego based cleaning business, says,
"You can't be soliciting new customers when you are cleaning a toilet."
John's "Home Cleaning Business Plan" is a fact-packed, step-by-step,
do-it-by-the-numbers guide that tells you all you need to know about starting up and succeeding in a home-based business of your own.
While it includes a lot of his own advice on how to promote and manage
the business, the real value of the Plan is that it contains in-depth interviews with nine successful cleaning business owners who revealed their most closely guarded trade secrets.
That statement is disputable. And, even if it were true then, it certainly is not true today! Here's why:
No matter what skills you have or what trade or profession you are in, the amount of money you can earn is severely limited by the number of hours in the day you can work. Aha!
So now we can say:
A better business is one in which you can recruit and train others to do what you can do. This leaves you free to manage and grow the business,
Even so, we still can't say that it is best business to be in. We can't say it because some trades and professions have much higher billable hourly rates than others.
Copywriting, and especially direct-response copywriting, is undoubtedly one of the highest paid professions in the world!
Copywriters tend to be pretty smart. A copywriter and an attorney are discussing fees:
Lawyer: "My fees start at $150 an hour."
Copywriter: "I charge from $1 a word."
Lawyer: "Wow! I can't think of any word worth a $1.Gimme an example?"
Copywriter: "Gimme a $1."
Lawyer: "Okay. Here's your $1."
Copywriter: "THANKS!"
So, is copywriting the world's best business to be in?
I say NO!
I say Info-Marketing on the Internet is undoubtedly the world's best business to be in!
It doesn't necessarily have to be an e-book that reveals copywriting
secrets and a list of words that sell. Although that would sell well to a
business-2-business market. But it does have to be an info-product that's designed to satisfy the needs and wants of a specific niche market.
Simple, huh?
Well, not exactly. If it were that simple, everybody with a how-to info-book and a direct-response website would be rich.
As I see it, only about 5% of Internet sites make millions. The remaining bunch of hopefuls is still struggling.
Jeff Walker, Product Launch a leading Internet marketing expert, says:
"Everyone has heard the story of the Internet being paved with gold... but only a precious few are bringing home that gold. There are thousands of websites that won't even break even. Most of those sites are moribund... sitting there with products that don't sell. They will wither away, and then get blown off the Internet like some dried-up piece of tumbleweed."
Internet marketing expert, Cody Maya, Private Label Books, says,
"The average cost of a copywriting project is $5,000--and that's just for one sales letter. You need three things to succeed on the Internet:
#1. You need a great product.
#2. You need to be able to get traffic to your site.
#3. You need to be able to convert those prospects into customers."
Internet marketing is great. It is not cheap. It is not easy and the learning curve for the average Joe Schmoe is mind-boggling.
It takes a high degree of sophistication, and a lot of money to buy the kind of tools that will enable you to put your business on Auto-Pilot, "while you lie on the beach in Hawaii with your laptop and make a ton of money even while you sleep."
Yanik Silver, one of the top guns in Internet Marketing told me he spent nearly $50,000 (a ton of money) on new products and doing research last year!
So, I need to qualify what I said earlier about selling an info-product on the Internet. Here's my revised statement:
"Selling an info-product on the Internet to a well-defined niche market is the world's best business to be in--for those who know what they are doing and have the money to do it."
So, you can't just fly into flying.
You think big but you start small!
You have to learn to walk before you can learn to run!
Some 30 years ago, self-made multi-millionaire Joe Karbo stated a very simple truth:
"Most people are too busy working to make
a living to ever make more than just a living."
In his book, "How to Be Rich," the late billionaire J. Paul Getty said that the only way to get rich is to start your own business and work at making yourself rich, rather than your employer!
For over 20 years I have been searching to find an "idiot proof" business that could be launched by the average Jack or Jill--and with no previous business experience and little or no capital to invest.
I managed to identify seven businesses that fit that bill.
Here's my list--not necessarily in order of merit or profitability:
1. Home and Office Cleaning
2. Handy Person Service
3. Window Washing Service
4. Publishing a Local Ad Magazine
5. Computer Instruction and Repairs
6. Painting and Decorating
7. Leaflet Distribution
8. Mobile Haircutting and Beauty Service
9. Lawn Cutting and Yard Maintenance
10. Taking Care of Snowbird Vacation Homes
I have written a how-to business instruction plan for each of the above.
Here's what I have to say about the Home and Office Cleaning Biz:
You could be your own boss--starting today!
"10 Powerful Reasons Why Home and Office Cleaning
is One of the World's Best Businesses to Be In"
1. Low start-up cost.
2. You can work part-time or full time.
Keep your day job if you have one. Work evenings and weekends. Don't quit your day job until you are sure you can make more working for yourself than your employer.
3. No Hard Selling Involved
The service virtually sells itself because 98% of housewives hate housework so much they jump at the chance of having a "maid" come in to the do all the dirty work.
4. Unlimited Demand For the Service
Today, as more and more women go out to work, they have less and less time to do housework and look after a husband and a family. If they can afford it, they jump at the chance of hiring a trustworthy and reliable home cleaner.
5. High Hourly Rates
The standard minimum age is a miserly $5.15 an hour. The average hourly rate for cleaners is $25 an hour. That's more than four times the minimum wage. Average means that some cleaners charge a low of $20 an hour and others charge a high of $30 an hour.
6. No Special Skills or Training Required
Either you know what to do or the house owner tells you what she wants done.
7. The Target Market is Local and Very Easy to Contact
8. Hot Prospects are Easy to Identify
People who can afford to hire a cleaning maid live busy lives. They own large homes with two or more garages. They reside in up-market suburban areas.
9. Very Simple and Inexpensive Marketing Plan
The three best ways to get new customers as regulars are:
One: Referrals from existing customers.
Two: Leaflet Distribution.
Three: Using a tested and proven telephone script designed not to sell the service, but to make an appointment to call and give a free estimate. Done right, the level of acceptance is a high 86%.
10. Unlimited Growth Potential
While you can make $1,000 a week doing two, four-hour jobs a day for
five days a week, the way to make really big money is not to do any of
the work yourself!
The trick is to hire others to do all the cleaning work.
This leaves you free to concentrate on managing and growing the business.
As the Holly Noble, owner of a San Diego based cleaning business, says,
"You can't be soliciting new customers when you are cleaning a toilet."
John's "Home Cleaning Business Plan" is a fact-packed, step-by-step,
do-it-by-the-numbers guide that tells you all you need to know about starting up and succeeding in a home-based business of your own.
While it includes a lot of his own advice on how to promote and manage
the business, the real value of the Plan is that it contains in-depth interviews with nine successful cleaning business owners who revealed their most closely guarded trade secrets.
Maintain Focus to achieve real success!
I think maintaining focus" is probably one of the most important and the most difficult "challenges" we face when running an online business and trying to establish what will make us successful. Especially when you consider how many different opportunities we are bombarded with each and every day that can so easily distract us from what we are trying to achieve.
One of the tactics that I have found works is to be very clear about what I am doing and ensuring that what I am doing right now is contributing to the achievement of my vision/goals. So each time we do some work on our business we need to ask ourselves What is it contributing to the achievement of my goals? If my goal for this week is to make let's say £1,000 then is what I am doing right now helping me to achieve that or am I doing things because I enjoy them and they are actually adding nothing? Do you have a list of tasks which will lead to the achievement of your goal for today/this week/this month etc? If you don't then what are you actually going to achieve this during this period? Will you succeed or will you end the period feeling frustrated because despite keeping busy you have not achieved?
So, just by way of example, if you spend hours and hours posting to forums are you absolutely certain that is contributing to the achievement of your goals? Do you do it to increase your profile and drive potential buyers/partners etc to your website; is it to help you learn, is it because you like to help others or is it a way of avoiding doing something i.e. the age old enemy of invention (action) called procrastination? If someone asked you to "justify" what you are doing (assuming you are doing something related to your business!) right now in terms of the achievement of your goal for today/this week/this month would you be able to?
A friend of mine has a framed set of his goals on his desk (which is a desk he uses purely for his online business)with the picture of the boat he wants to buy when he is successful! Every time he feels that he is starting to get distracted he looks at that framed set of goals and the boat and asks himself - is what I am doing right now going to get me on that boat?
Now that's what I call focus.
One of the tactics that I have found works is to be very clear about what I am doing and ensuring that what I am doing right now is contributing to the achievement of my vision/goals. So each time we do some work on our business we need to ask ourselves What is it contributing to the achievement of my goals? If my goal for this week is to make let's say £1,000 then is what I am doing right now helping me to achieve that or am I doing things because I enjoy them and they are actually adding nothing? Do you have a list of tasks which will lead to the achievement of your goal for today/this week/this month etc? If you don't then what are you actually going to achieve this during this period? Will you succeed or will you end the period feeling frustrated because despite keeping busy you have not achieved?
So, just by way of example, if you spend hours and hours posting to forums are you absolutely certain that is contributing to the achievement of your goals? Do you do it to increase your profile and drive potential buyers/partners etc to your website; is it to help you learn, is it because you like to help others or is it a way of avoiding doing something i.e. the age old enemy of invention (action) called procrastination? If someone asked you to "justify" what you are doing (assuming you are doing something related to your business!) right now in terms of the achievement of your goal for today/this week/this month would you be able to?
A friend of mine has a framed set of his goals on his desk (which is a desk he uses purely for his online business)with the picture of the boat he wants to buy when he is successful! Every time he feels that he is starting to get distracted he looks at that framed set of goals and the boat and asks himself - is what I am doing right now going to get me on that boat?
Now that's what I call focus.
Why Doesn't Your Business Plan Consistently Secure Your Desired Results?
From small businesses to large corporations, when you render all the challenges and issues facing these economic engines from employees to growth and innovation, the inability to secure desired results or implementation always float to the top as the number one to number three obstacles that prevent business success. As a business owner or management executive, have you ever asked yourself one of these five questions:
1. How do I move from my vision to my desired results?
2. How do I get my employees to perform?
3. How do I recruit new employees with the skills that my company needs?
4. How do I attract new customers or clients?
5. Why can't I consistently achieve my desired results?
All of these questions when rendered down are about implementation. The failure to implement each corporate wide business goal consumes valuable resources specifically time, people and money. These resources may have been already allocated to other initiatives.
Effective implementation is what separates the successful companies from the not so successful ones. Many authors from Rick Page in "Hope is not a Strategy" to Jason Jennings and Laurence Haughton in It's Not the Big that Eat the Small, It's the Fast that East the Slow" write about the affects of poor implementation.
Possibly why implementation continues to vex today's businesses is because executives search for an ineffective answer through a business plan instead of a strategic business plan. A recent search using Inventory Overture revealed that searches for business plan were over 200 times as many as for strategic business plan (148,650 vs. 614). From these searches, it suggests that business owners may be looking for the wrong answer.
Why choose a strategic business plan over a business plan? The answer is simple because a strategic business plan defines "Who Does What By When" through the critical success factors and supporting goals that are in alignment with the sales and marketing plans.
The structure of a strategic business plan is all about implementation. Using the ADDIE Plus methodology may help you in your efforts to create an effective strategic business plan.
Assess - The current market conditions, future market conditions and the organization need to be assessed. This evaluation should begin with an overall organizational assessment and may extend to internal and external customers.
Design - After the evaluation, a design is crafted. This design should include the vision, values and mission of the organization and is overall architecture for the plan. Simply, speaking this is the "Big Picture."
Develop - The plan is developed according to the structure of the organization. Smaller plans or pictures such as marketing and sales fit within the overall plan.
Implement - Using specific goal setting and goal achievement, the strategic plan is implemented. At this juncture, who does what by when is identified.
Evaluate Goal achievement is the mechanism to monitor and evaluate successful implementation.
Plus - Follow-up is the plus to ensure necessary course correction that may again require some new assessments along with design, development, implementation and evaluation.
Using the ADDIE+ methodology provides business owners a consistent vehicle from which to create, monitor, evaluate and follow-up on their strategic business plan.
If you truly want to reach that next level of success by bridging the implementation gaps, stop focusing on a business plan and take the time to create a strategic business plan that clearly defines who does what by when.
1. How do I move from my vision to my desired results?
2. How do I get my employees to perform?
3. How do I recruit new employees with the skills that my company needs?
4. How do I attract new customers or clients?
5. Why can't I consistently achieve my desired results?
All of these questions when rendered down are about implementation. The failure to implement each corporate wide business goal consumes valuable resources specifically time, people and money. These resources may have been already allocated to other initiatives.
Effective implementation is what separates the successful companies from the not so successful ones. Many authors from Rick Page in "Hope is not a Strategy" to Jason Jennings and Laurence Haughton in It's Not the Big that Eat the Small, It's the Fast that East the Slow" write about the affects of poor implementation.
Possibly why implementation continues to vex today's businesses is because executives search for an ineffective answer through a business plan instead of a strategic business plan. A recent search using Inventory Overture revealed that searches for business plan were over 200 times as many as for strategic business plan (148,650 vs. 614). From these searches, it suggests that business owners may be looking for the wrong answer.
Why choose a strategic business plan over a business plan? The answer is simple because a strategic business plan defines "Who Does What By When" through the critical success factors and supporting goals that are in alignment with the sales and marketing plans.
The structure of a strategic business plan is all about implementation. Using the ADDIE Plus methodology may help you in your efforts to create an effective strategic business plan.
Assess - The current market conditions, future market conditions and the organization need to be assessed. This evaluation should begin with an overall organizational assessment and may extend to internal and external customers.
Design - After the evaluation, a design is crafted. This design should include the vision, values and mission of the organization and is overall architecture for the plan. Simply, speaking this is the "Big Picture."
Develop - The plan is developed according to the structure of the organization. Smaller plans or pictures such as marketing and sales fit within the overall plan.
Implement - Using specific goal setting and goal achievement, the strategic plan is implemented. At this juncture, who does what by when is identified.
Evaluate Goal achievement is the mechanism to monitor and evaluate successful implementation.
Plus - Follow-up is the plus to ensure necessary course correction that may again require some new assessments along with design, development, implementation and evaluation.
Using the ADDIE+ methodology provides business owners a consistent vehicle from which to create, monitor, evaluate and follow-up on their strategic business plan.
If you truly want to reach that next level of success by bridging the implementation gaps, stop focusing on a business plan and take the time to create a strategic business plan that clearly defines who does what by when.
Getting Help and Advice on Starting a Business
When you want to start a home business, it can be easy to feel alone, confused, and scared. The chances are that you don't know anyone else who's ever started a business, and you don"t even know who to ask if you get stuck. Here are a few things you ought to be looking at.
The Internet.
The Internet is a great resource for people who are thinking of setting up a home business " as well as all the articles you can find with practical advice, there are also many forums, where you can read about others" experiences, and ask questions.
The Government.
Scary as it might seem to be getting advice on anything from the government, most governments go really out of their way to produce all sorts of easy-to-understand material on starting your own business. Encouraging you in business is a great way for them to both strengthen the economy and increase tax revenues.
Depending on your area, you might find that local government agencies are also keen to give you help and advice, and might even have some kind of "small business centre" that you can visit.
Mentors.
Mentors are usually volunteers who think it would be nice to offer local businesses help and advice. They often have years of business experience, and can be really useful " if you find one, hang on to them.
Librarians.
Always willing to help and sadly neglected in our "wired" age, you really should talk to a librarian. Libraries generally contain all sorts of business books and resources that they"ll be able to point you towards, and they"ll be more than happy to do research into obscure areas for you.
Lawyers.
Pricey as they might be, lawyers know all about starting businesses " they"ve almost certainly done it thousands of times over. It can be well worth paying for an hour of a lawyer"s time and just asking them every question you can think of.
Accountants.
A less expensive alternative to lawyers, accountants also know their stuff, especially (obviously) on the financial side. If you want your business to be profitable, you should take on board what your accountant tells you " and if you don"t have one, you should get one. By the time they"ve helped you navigate through all the tax mazes, they"ll almost certainly have made their fee back for you anyway.
Incubators and Investors.
If you think your business would be an attractive proposal to people who back businesses for a living, then you can try going to a "business incubator" or some other kind of investor with your idea. If they like it, they"ll often have a quick process set up to get your company up and running as soon as possible.
Universities.
Here"s an interesting one: universities are full of business students. They"ve all spent ages learning about nothing but business, and many of them would just love to help get a real one off the ground " it" d look great on their CV, after all. Business students can be a great source of free help and advice, and they"ll probably even be thankful to you for letting them help out!
Teachers.
If you do a course to get a formal qualification in what you want to do before starting the business, you"ll probably find that your teacher is also a good resource on the business side of things. They"ll have had plenty of students starting businesses who"ve asked them similar questions, and they might even have prepared some material to give to anyone who asks for it.
Your Bank.
Traditionally, your bank would have been the first place you went if you were thinking of starting a business, but many people seem to ignore them nowadays. While they"re no replacement for accountants, most banks will offer you a "business advisor" when you open a business account, and they can be especially helpful with the technical and financial elements of starting up.
Associations, Societies and Unions.
Whatever industry you're thinking of entering probably has some kind of trade association, society or union. You should join as soon as you can, and take advantage of all the resources that they will almost certainly offer to people wanting to get started in their industry. After all, the more people who are in their industry, the more members they can get.
The Internet.
The Internet is a great resource for people who are thinking of setting up a home business " as well as all the articles you can find with practical advice, there are also many forums, where you can read about others" experiences, and ask questions.
The Government.
Scary as it might seem to be getting advice on anything from the government, most governments go really out of their way to produce all sorts of easy-to-understand material on starting your own business. Encouraging you in business is a great way for them to both strengthen the economy and increase tax revenues.
Depending on your area, you might find that local government agencies are also keen to give you help and advice, and might even have some kind of "small business centre" that you can visit.
Mentors.
Mentors are usually volunteers who think it would be nice to offer local businesses help and advice. They often have years of business experience, and can be really useful " if you find one, hang on to them.
Librarians.
Always willing to help and sadly neglected in our "wired" age, you really should talk to a librarian. Libraries generally contain all sorts of business books and resources that they"ll be able to point you towards, and they"ll be more than happy to do research into obscure areas for you.
Lawyers.
Pricey as they might be, lawyers know all about starting businesses " they"ve almost certainly done it thousands of times over. It can be well worth paying for an hour of a lawyer"s time and just asking them every question you can think of.
Accountants.
A less expensive alternative to lawyers, accountants also know their stuff, especially (obviously) on the financial side. If you want your business to be profitable, you should take on board what your accountant tells you " and if you don"t have one, you should get one. By the time they"ve helped you navigate through all the tax mazes, they"ll almost certainly have made their fee back for you anyway.
Incubators and Investors.
If you think your business would be an attractive proposal to people who back businesses for a living, then you can try going to a "business incubator" or some other kind of investor with your idea. If they like it, they"ll often have a quick process set up to get your company up and running as soon as possible.
Universities.
Here"s an interesting one: universities are full of business students. They"ve all spent ages learning about nothing but business, and many of them would just love to help get a real one off the ground " it" d look great on their CV, after all. Business students can be a great source of free help and advice, and they"ll probably even be thankful to you for letting them help out!
Teachers.
If you do a course to get a formal qualification in what you want to do before starting the business, you"ll probably find that your teacher is also a good resource on the business side of things. They"ll have had plenty of students starting businesses who"ve asked them similar questions, and they might even have prepared some material to give to anyone who asks for it.
Your Bank.
Traditionally, your bank would have been the first place you went if you were thinking of starting a business, but many people seem to ignore them nowadays. While they"re no replacement for accountants, most banks will offer you a "business advisor" when you open a business account, and they can be especially helpful with the technical and financial elements of starting up.
Associations, Societies and Unions.
Whatever industry you're thinking of entering probably has some kind of trade association, society or union. You should join as soon as you can, and take advantage of all the resources that they will almost certainly offer to people wanting to get started in their industry. After all, the more people who are in their industry, the more members they can get.
The REAL TRUTH on How to Price Your eBook
You've written and compiled an ebook. Now you have to decide how much to charge for it. Finding the right price is essential to the success of your product. If you charge too little, people will think it's of little value, and they won't purchase it, or even it they do buy your book, you will have to sell thousands of copies to get to the point where you can begin to see a profit.
If you price it too high when compared with your competition, you will find yourself steadily lowering the price, which will cause you all kinds of new problems in the future. For example, if you sell your ebook at first for $39.99, and later reduce it to $24.95, don't you think the people who bought it for $39.99 are going to be PISSED?choosing the right price for your ebook is one of the most critical parts of the marketing process. The first rule of pricing ebooks is to never underprice. Determine the highest price your audience can afford, and then if you find your book isn't selling, you can make sure you are promoting your book like crazy on the Internet and on websites.
The price should be aimed at bringing in profits, but you should never forget that price is one of the factors that people use in judging the value of your ebook ? before they buy it. So always start with the highest price, and Then launch a mega-marketing campaign.
Pricing an ebook is particularly difficult because ebooks are a fairly new commodity. Since they are digital, the value of an ebook is as confusing as the understanding of what digital actually is to the average layperson. This means that we must look at ebooks in a different light in order to determine their actual worth in this brave, new cyber world.
Let's look at the difference between a book in print and an ebook. A printed book is an object you can hold in your hand, store on your bookshelf, even hand down to the next generation. It is priced on factors such as paper stock, design and production costs, and marketing.
But the fact that unites ebooks and print books is that they are composed of ideas. It is the ideas in these books that have the ability to change, or possibly transform, people's lives.
What do you think an idea is worth when evaluated against the cost of paper and ink? It is the IDEAS that are valuable! That is how you determine the cost of your ebook. What should I charge for my ideas?
There are all different formulas and methods for determining the correct price for your ebook. Let's begin with honing in on your ultimate goals.
Decide if your goal is to get wide distribution and maximum exposure. This goal is aimed at drawing customers to your business or service, or to establishing the credibility of your reputation. If this is your main goal, you should aim to keep your price on the low side. Some authors have even priced their ebooks at a profit loss to draw a high number of new customers. The key is to find a price that maximizes your profits and the number of books you sell.
This is an excellent pricing strategy if you are looking to acquire long-term customers. Long-term customers are extremely likely to buy from you again and again ? as long as the first ebook they buy is of exceptional quality and beneficial to the customer.
However, if your book contains valuable ? and more importantly NEW information, references, or techniques? then you should aim to price it on the high end. After you figure out your goal, you must figure out what your audience's need is for your ebook. For example, does your book solve a particular problem? If it does, and solves it in a way that hasn't been written about in one hundred other ebooks, you will be able to achieve high sales at a high price.
If your book solves a problem or answers questions in a new and unique way, you should price your book as high as you can go. You will achieve larger profits this way, but bring in fewer customers.
Just make sure the question or problem that your book solves is one that is important and relevant to the majority of your market audience. If your ideas are not common knowledge, or you are presenting a brand new technique, you will be able to sell books at a high price. Just be prepared for your competition to undercut you on price as soon as they hear about your book.
Keep in mind that the above pricing strategy is temporary. Eventually, you will cease to sell books at this high price. So figure out in advance how long you plan to offer your ebook at this high price, and when that time is up, change your pricing strategy.
If you want to see large profits over customer draw, aim for an audience that is looking for easy solutions to their problems at a low price. If your book is aimed at solving one particular problem rather than general advice, then you can charge more. Start at the highest price the market will bear to bring in the largest profits, and plan to discount the book a number of times throughout the year.
Marketing Strategies:
The key that unlocks the sales potential of your ebook is to find a single sentence that becomes your selling handle. This sentence states what question or problem your book answers and the benefits your ebook can provide. Then be sure to use that sentence in every piece of sales and promotional material, and every time anyone asks you about your ebook.
Besides promoting your books assiduously online, there are several other strategies that can help you sell more books. One is to give something away for free with your book, such as a valuable bonus item. Or bundle several ebooks under one price, which lowers the price for each ebook if they were sold separately.
An effective technique for figuring out a price is to send out a survey to your current customers. If these customers have already bought an ebook from you, ask for their opinion in terms of price. Do this by creating a sales page for the new book, but don't include a price on that page. Instead, add a number of links to survey questions that ask pointed questions to aid you in assigning a price to your ebook. Another strategy is to test out prices by creating a number of duplicate sales pages with different prices on each page.
Make sure your sales copy is exactly the same on every page, and includes your selling-handle sentence. Then figure out for each page the conversion ratio between visitors to your site and sales of your book. This will tell you what your optimum price is.
Ultimately, if you've written a book that solves a problem or presents a new technique, your book will bring in both traffic and profits. So be sure to write that selling-handle sentence that sums up what problem your book solves and what the benefits of your book will be to the customers who purchase it. And then watch your market come to you!
This article is part of a 6 part series on ebook writing, compiling and pricing structure. You can find all articles here over the next couple of days or see them all, along with other great and informative articles on "The TRUTH" about Internet and affiliate marketing on my website listed below.
If you price it too high when compared with your competition, you will find yourself steadily lowering the price, which will cause you all kinds of new problems in the future. For example, if you sell your ebook at first for $39.99, and later reduce it to $24.95, don't you think the people who bought it for $39.99 are going to be PISSED?choosing the right price for your ebook is one of the most critical parts of the marketing process. The first rule of pricing ebooks is to never underprice. Determine the highest price your audience can afford, and then if you find your book isn't selling, you can make sure you are promoting your book like crazy on the Internet and on websites.
The price should be aimed at bringing in profits, but you should never forget that price is one of the factors that people use in judging the value of your ebook ? before they buy it. So always start with the highest price, and Then launch a mega-marketing campaign.
Pricing an ebook is particularly difficult because ebooks are a fairly new commodity. Since they are digital, the value of an ebook is as confusing as the understanding of what digital actually is to the average layperson. This means that we must look at ebooks in a different light in order to determine their actual worth in this brave, new cyber world.
Let's look at the difference between a book in print and an ebook. A printed book is an object you can hold in your hand, store on your bookshelf, even hand down to the next generation. It is priced on factors such as paper stock, design and production costs, and marketing.
But the fact that unites ebooks and print books is that they are composed of ideas. It is the ideas in these books that have the ability to change, or possibly transform, people's lives.
What do you think an idea is worth when evaluated against the cost of paper and ink? It is the IDEAS that are valuable! That is how you determine the cost of your ebook. What should I charge for my ideas?
There are all different formulas and methods for determining the correct price for your ebook. Let's begin with honing in on your ultimate goals.
Decide if your goal is to get wide distribution and maximum exposure. This goal is aimed at drawing customers to your business or service, or to establishing the credibility of your reputation. If this is your main goal, you should aim to keep your price on the low side. Some authors have even priced their ebooks at a profit loss to draw a high number of new customers. The key is to find a price that maximizes your profits and the number of books you sell.
This is an excellent pricing strategy if you are looking to acquire long-term customers. Long-term customers are extremely likely to buy from you again and again ? as long as the first ebook they buy is of exceptional quality and beneficial to the customer.
However, if your book contains valuable ? and more importantly NEW information, references, or techniques? then you should aim to price it on the high end. After you figure out your goal, you must figure out what your audience's need is for your ebook. For example, does your book solve a particular problem? If it does, and solves it in a way that hasn't been written about in one hundred other ebooks, you will be able to achieve high sales at a high price.
If your book solves a problem or answers questions in a new and unique way, you should price your book as high as you can go. You will achieve larger profits this way, but bring in fewer customers.
Just make sure the question or problem that your book solves is one that is important and relevant to the majority of your market audience. If your ideas are not common knowledge, or you are presenting a brand new technique, you will be able to sell books at a high price. Just be prepared for your competition to undercut you on price as soon as they hear about your book.
Keep in mind that the above pricing strategy is temporary. Eventually, you will cease to sell books at this high price. So figure out in advance how long you plan to offer your ebook at this high price, and when that time is up, change your pricing strategy.
If you want to see large profits over customer draw, aim for an audience that is looking for easy solutions to their problems at a low price. If your book is aimed at solving one particular problem rather than general advice, then you can charge more. Start at the highest price the market will bear to bring in the largest profits, and plan to discount the book a number of times throughout the year.
Marketing Strategies:
The key that unlocks the sales potential of your ebook is to find a single sentence that becomes your selling handle. This sentence states what question or problem your book answers and the benefits your ebook can provide. Then be sure to use that sentence in every piece of sales and promotional material, and every time anyone asks you about your ebook.
Besides promoting your books assiduously online, there are several other strategies that can help you sell more books. One is to give something away for free with your book, such as a valuable bonus item. Or bundle several ebooks under one price, which lowers the price for each ebook if they were sold separately.
An effective technique for figuring out a price is to send out a survey to your current customers. If these customers have already bought an ebook from you, ask for their opinion in terms of price. Do this by creating a sales page for the new book, but don't include a price on that page. Instead, add a number of links to survey questions that ask pointed questions to aid you in assigning a price to your ebook. Another strategy is to test out prices by creating a number of duplicate sales pages with different prices on each page.
Make sure your sales copy is exactly the same on every page, and includes your selling-handle sentence. Then figure out for each page the conversion ratio between visitors to your site and sales of your book. This will tell you what your optimum price is.
Ultimately, if you've written a book that solves a problem or presents a new technique, your book will bring in both traffic and profits. So be sure to write that selling-handle sentence that sums up what problem your book solves and what the benefits of your book will be to the customers who purchase it. And then watch your market come to you!
This article is part of a 6 part series on ebook writing, compiling and pricing structure. You can find all articles here over the next couple of days or see them all, along with other great and informative articles on "The TRUTH" about Internet and affiliate marketing on my website listed below.
How to give your customers a choice between you and the competition and have them choose you.
Instead of giving your customers or potential customers a choice between you and your competition and having them choose the other guy, have them choose you.
Michelle Dunn's new book Become the Squeaky Wheel, says creating a credit policy can have surprising results.
According to Dunn, a leader in the debt collection industry, some customers, when given the choice, between signing a credit application or paying at the time of sale, mostly choose the credit application regardless of who has the cheaper prices. It is true that some customers will buy more from you if they are approved for credit and have more time to pay. It makes it easy for them to place orders and receive a bill, rather than have to pay at the point of sale.
Like everything else, the easier you make it for the customer to buy from you the more sales you will have. Customers want things to be easy, fast and instant. If they are credit approved and can call and order and have the item quickly, then pay when they receive a bill, they will be more likely to order from you than someone who doesn't offer that option. Resulting in your business making more money and more sales.
Michelle Dunn's new book Become the Squeaky Wheel, says creating a credit policy can have surprising results.
According to Dunn, a leader in the debt collection industry, some customers, when given the choice, between signing a credit application or paying at the time of sale, mostly choose the credit application regardless of who has the cheaper prices. It is true that some customers will buy more from you if they are approved for credit and have more time to pay. It makes it easy for them to place orders and receive a bill, rather than have to pay at the point of sale.
Like everything else, the easier you make it for the customer to buy from you the more sales you will have. Customers want things to be easy, fast and instant. If they are credit approved and can call and order and have the item quickly, then pay when they receive a bill, they will be more likely to order from you than someone who doesn't offer that option. Resulting in your business making more money and more sales.
Where To Find Products To Sell On Ebay
One key for business success using eBay is sourcing products to sell. The first questions eBay sellers should ask themselves are: "What can I sell?" and "Where can I buy?"
There are two kinds of sellers on eBay, garage sellers and business sellers. Garage sellers are people who sell products they are not going to use any more and that are usually not new. Garage sellers are not profit driven, their main objective is usually to get rid of some stuff they don't need. They will be happy to make some money by selling something that is no longer useful to them. On the other hand, business sellers are people who will buy and sell products for profit, they consider eBay a business and need to earn profit on the products they sell.
The first key to success for business sellers is an old marketing rule, RESEARCH. The products you need to sell are products that eBay buyers will want to buy. Apart from being a massive market place, eBay offers you a cheap source of research that you can conduct without moving from your computer.
If you are a business seller, it is fundamental that you spend some time researching before you decide which products you want to sell. Follow these research guidelines:
1. Search for the categories that are most popular. The first index is the number of listings that exist under each category. In addition, you need to look at how many bids the products have.
2. Look at the ratings of the sellers who are listing products in each category and study their profiles. See how many products they are selling and how many products they have sold in the past.
3. Analyze prices. You need to become an expert in your category and you need to know at which price a product is worth buying as well as the expected final winning price of your auction.
4. Select no more than one or two categories. "Specialization" is another basic rule of marketing. It is better to become an expert on something, as this will inspire confidence and trust in your potential customers. Online marketing is all about trust.
For conducting good research, you need time and organization. There are different software programs in the market that can help you save time as well as optimize your research.
Now that you are becoming an eBay expert and have conducted a proper search, you are almost ready to start your business. Before starting to sell, you need to buy! Here are some ideas from where you can source products:
1. Write your own e-book and sell it. If you have any passion or are an expert on a subject for which you can find a niche in eBay, do not hesitate to spend some time on writing your own book. The advantage of this is that after your initial time investment, you can sell and sell copies of the book without having any additional costs. Selling information products is one of the most profitable businesses. Even if you are not an expert writer, you can find other people who can write the book for you.
2. Use drop-shipping. There are wholesalers that will sell you products and send them to the address that you tell them. The advantage of this source is that you do not need to carry inventories, so your investments are minimized. After your auction is finished, you send them your customers address and they will do all the shipping. If you decide to use this kind of source, you need to make sure that your auctions winning price can be higher than the price you will pay for the articles. At minimum you should expect to double your costs.
3. Buy from eBay. Many eBayers success comes from knowing how to buy well on eBay and sell the same products at a higher price. If you know your category very well, you can easily find opportunities that will allow you to buy and resell making profit. Again, solid research is fundamental.
4. Buy Asiatic products. If you are willing to carry some inventories, you can invest on Asiatic products and buy them for a very cheap price. You can easily start importing Asiatic products from the Internet at www.alibaba.com.
5. Sell local products. If you live in an area that produces local products which can be bought at a cheap price and shipped to other areas where people would pay more, you should take advantage of the situation.
There are two kinds of sellers on eBay, garage sellers and business sellers. Garage sellers are people who sell products they are not going to use any more and that are usually not new. Garage sellers are not profit driven, their main objective is usually to get rid of some stuff they don't need. They will be happy to make some money by selling something that is no longer useful to them. On the other hand, business sellers are people who will buy and sell products for profit, they consider eBay a business and need to earn profit on the products they sell.
The first key to success for business sellers is an old marketing rule, RESEARCH. The products you need to sell are products that eBay buyers will want to buy. Apart from being a massive market place, eBay offers you a cheap source of research that you can conduct without moving from your computer.
If you are a business seller, it is fundamental that you spend some time researching before you decide which products you want to sell. Follow these research guidelines:
1. Search for the categories that are most popular. The first index is the number of listings that exist under each category. In addition, you need to look at how many bids the products have.
2. Look at the ratings of the sellers who are listing products in each category and study their profiles. See how many products they are selling and how many products they have sold in the past.
3. Analyze prices. You need to become an expert in your category and you need to know at which price a product is worth buying as well as the expected final winning price of your auction.
4. Select no more than one or two categories. "Specialization" is another basic rule of marketing. It is better to become an expert on something, as this will inspire confidence and trust in your potential customers. Online marketing is all about trust.
For conducting good research, you need time and organization. There are different software programs in the market that can help you save time as well as optimize your research.
Now that you are becoming an eBay expert and have conducted a proper search, you are almost ready to start your business. Before starting to sell, you need to buy! Here are some ideas from where you can source products:
1. Write your own e-book and sell it. If you have any passion or are an expert on a subject for which you can find a niche in eBay, do not hesitate to spend some time on writing your own book. The advantage of this is that after your initial time investment, you can sell and sell copies of the book without having any additional costs. Selling information products is one of the most profitable businesses. Even if you are not an expert writer, you can find other people who can write the book for you.
2. Use drop-shipping. There are wholesalers that will sell you products and send them to the address that you tell them. The advantage of this source is that you do not need to carry inventories, so your investments are minimized. After your auction is finished, you send them your customers address and they will do all the shipping. If you decide to use this kind of source, you need to make sure that your auctions winning price can be higher than the price you will pay for the articles. At minimum you should expect to double your costs.
3. Buy from eBay. Many eBayers success comes from knowing how to buy well on eBay and sell the same products at a higher price. If you know your category very well, you can easily find opportunities that will allow you to buy and resell making profit. Again, solid research is fundamental.
4. Buy Asiatic products. If you are willing to carry some inventories, you can invest on Asiatic products and buy them for a very cheap price. You can easily start importing Asiatic products from the Internet at www.alibaba.com.
5. Sell local products. If you live in an area that produces local products which can be bought at a cheap price and shipped to other areas where people would pay more, you should take advantage of the situation.
eBusiness - Small Business Necessity
The rapid growth of the internet commerce in recent years presents established small businesses with a serious dilemma. On the one hand, they can stick with the business model that has worked for them for the last number of years. On the other hand, they can make the shift to serious eBusiness.
Choosing to stand pat is usually much easier in the short term. But in the longer term this almost certainly means they will be left behind by technology, and lose many of their most important clients to more aggressive competitors.
But shifting to eBusiness may involve committing substantial resources to developing a new game plan. That usually means refining product lines to make them easier to sell online, upgrading computer systems and websites, and training personnel at all levels to be more web savvy. It also means developing or hiring staff to handle the administration of new marketing, sales, and delivery systems, and working with outside consultants and service providers to handle the technical aspects of the new program that cannot be handled by your own people.
Is adopting an eBusiness Solution worth the effort?
Are the short term difficulties involved in making the transition to eBusiness worth the effort?
In virtually all cases, Yes.
It is like any other investment in your business. Some businesses look at the cost of upgrading production equipment or of renovating their office or retail space and decide it is simply not worth the cost. They decide the future is too uncertain to risk moving ahead, so they opt to tread water until either circumstances change, or they simply cannot continue any longer in business.
In this sense, choosing to stay abreast of technological changes is a business necessity. And these days, deciding to get involved with eBusiness is the most important technological decision many current businesses will ever make.
Advantages of eBusiness
Here are some of the more important advantages of moving to eBusiness.
You can develop a more cost-effective Communication and Marketing Strategy - The most obvious advantage of "upgrading" to eBusiness is that it gives you a vital web presence. In an upgraded "eBusiness environment" your company web site becomes the focal point of your communications and marketing strategy. And in an era when an increasingly large number of people are using the web as their first source of product and service information, "being there" 24/7 is extremely important.
You can reach New Markets World Wide - The internet offers exciting ways of reaching new markets that could only be dreamed of in the past. There are methods of promoting your products online that allow you to precisely target the customers you are after whether they are in your town or on the other side of the world.
You can reach Local Customers and Prospects more effectively - Until recently, companies offering a product or service to local customers could not see the benefits of having an online presence. But as more and more people become comfortable with using the internet instead of traditional advertising sources like classified ads or yellow pages, having an aggressive web presence makes better business sense even for local companies. This may also offer a springboard to developing new markets further afield.
You can cut Advertising and Marketing Costs - Online advertising is not only more efficient, but it is often less expensive than traditional advertising. After sales training expenses can also be reduced by utilizing online seminars, training videos and tutorials.
You can streamline the Ordering Process by taking orders online - Implementing an online ordering system allows you to eliminate manual paper work or telephone order taking. It also offers the possibility of integrating your sales order system with order fullfillment and delivery so customers can be up to speed on the progress of their orders at all times.
You can cut Communications and Telephone Costs - While the costs of voice communications using long distance telephone services have been coming down rapidly over the last few years, switching to an eBusiness model offers the possibility of totally eliminating many of these costs. Of course there is traditional email. But beyond that, there are systems like "Live Help" where customers can chat live with support or sales staff. And the most recent development is VoIP (Voice Over Internet) which promises to completely revolutionize telephone service.
Finding the right eBusiness Solution
Every business is unique, so every business will require a unique eBusiness solution. Chances are most small businesses will not have the resources inhouse to make the move. In that case they should find an eBusiness solution provider that takes a comprehensive approach to each situation. Rather than offering a pre-packaged program, they should be able to look carefully at a business and make recommendations based on its specific needs. That includes the ability to provide staff training and ongoing support long after the initial system is put in place.
Choosing to stand pat is usually much easier in the short term. But in the longer term this almost certainly means they will be left behind by technology, and lose many of their most important clients to more aggressive competitors.
But shifting to eBusiness may involve committing substantial resources to developing a new game plan. That usually means refining product lines to make them easier to sell online, upgrading computer systems and websites, and training personnel at all levels to be more web savvy. It also means developing or hiring staff to handle the administration of new marketing, sales, and delivery systems, and working with outside consultants and service providers to handle the technical aspects of the new program that cannot be handled by your own people.
Is adopting an eBusiness Solution worth the effort?
Are the short term difficulties involved in making the transition to eBusiness worth the effort?
In virtually all cases, Yes.
It is like any other investment in your business. Some businesses look at the cost of upgrading production equipment or of renovating their office or retail space and decide it is simply not worth the cost. They decide the future is too uncertain to risk moving ahead, so they opt to tread water until either circumstances change, or they simply cannot continue any longer in business.
In this sense, choosing to stay abreast of technological changes is a business necessity. And these days, deciding to get involved with eBusiness is the most important technological decision many current businesses will ever make.
Advantages of eBusiness
Here are some of the more important advantages of moving to eBusiness.
You can develop a more cost-effective Communication and Marketing Strategy - The most obvious advantage of "upgrading" to eBusiness is that it gives you a vital web presence. In an upgraded "eBusiness environment" your company web site becomes the focal point of your communications and marketing strategy. And in an era when an increasingly large number of people are using the web as their first source of product and service information, "being there" 24/7 is extremely important.
You can reach New Markets World Wide - The internet offers exciting ways of reaching new markets that could only be dreamed of in the past. There are methods of promoting your products online that allow you to precisely target the customers you are after whether they are in your town or on the other side of the world.
You can reach Local Customers and Prospects more effectively - Until recently, companies offering a product or service to local customers could not see the benefits of having an online presence. But as more and more people become comfortable with using the internet instead of traditional advertising sources like classified ads or yellow pages, having an aggressive web presence makes better business sense even for local companies. This may also offer a springboard to developing new markets further afield.
You can cut Advertising and Marketing Costs - Online advertising is not only more efficient, but it is often less expensive than traditional advertising. After sales training expenses can also be reduced by utilizing online seminars, training videos and tutorials.
You can streamline the Ordering Process by taking orders online - Implementing an online ordering system allows you to eliminate manual paper work or telephone order taking. It also offers the possibility of integrating your sales order system with order fullfillment and delivery so customers can be up to speed on the progress of their orders at all times.
You can cut Communications and Telephone Costs - While the costs of voice communications using long distance telephone services have been coming down rapidly over the last few years, switching to an eBusiness model offers the possibility of totally eliminating many of these costs. Of course there is traditional email. But beyond that, there are systems like "Live Help" where customers can chat live with support or sales staff. And the most recent development is VoIP (Voice Over Internet) which promises to completely revolutionize telephone service.
Finding the right eBusiness Solution
Every business is unique, so every business will require a unique eBusiness solution. Chances are most small businesses will not have the resources inhouse to make the move. In that case they should find an eBusiness solution provider that takes a comprehensive approach to each situation. Rather than offering a pre-packaged program, they should be able to look carefully at a business and make recommendations based on its specific needs. That includes the ability to provide staff training and ongoing support long after the initial system is put in place.
Five Tips to Obtain Credit for Small Businesses
As many small business owners know, financing is crucial to the financial health of their enterprise. While some small business owners have the resources to launch their business, most look to the credit market for financial help. Indeed, the banking industry is an important source to gain necessary capital. However, many entrepreneurs may not realize that that applying for commercial credit requires a great deal of preparation. Here are five tips to assist entrepreneurs in improving their chances of getting credit approval.
Tip #1: Decide on the type of commercial loan that is needed. Loan options include short-term loans, intermediate loans, long-term loans, and lines of credit.
Short-term loans are usually for less than a year. They typically provide interim working capital for a business temporarily in need of cash.
Intermediate loans are often used for business set-up, the purchase of new equipment, expansion, or an increase in working capital. This loan can be anywhere from 1-3 years.
Long-term loans are for major capital improvements, acquiring fixed assists, and business start-ups. The loan term is usually from 3-5 years and repayment installments are on a monthly or quarterly basis.
A line of credit gives a small business the ability to borrow money repeatedly, up to the credit limit. The lender will usually perform a review once a year, at which time the borrower is asked to update financial statements.
Tip #2: Make sure all paper work is in order. Applying for commercial loans can be very tedious and requires much more documentation than applying for consumer credit. So, the key is to be prepared. In addition, entrepreneurs who have carefully put together the needed paperwork to include the loan purpose, the amount of money needed and for how long, and a repayment schedule proposal will be viewed more favorably by many lenders.
Tip #3: Develop a well thought out proposal. The proposal should include the loan purpose, the amount of money needed and for how long, and a repayment schedule proposal. Points to include are the business description that tells the nature of the business, product and service, a personal profile, and a business plan that outlines the corporate strategy for the next three to five years. Additional points to add are supporting documentation that supports the information outlined in the proposal, and collateral that will be used to secure the loan. Financial statements, both personal and for the business, are important as well.
Tip #4: Seek advice! It is important for entrepreneurs to talk with someone who has gone through the process of obtaining commercial credit before a lender is approached. This is especially important for the first time buyer. Entrepreneurs can approach mentors, qualified business counselors, business support groups, and the U.S. Small Business Administration. This step will increase the chances of getting a favorable credit decision.
Tip #5: Be prepared to pursue various options. Sometimes, financial institutions will say no. Once again, obtaining credit can be difficult, especially for entrepreneurs who are first-time borrowers. However, since financial institutions have different standards, an inability to meet the standard of one lender does not mean one fails the standards of all. It is highly possible that credit approvals can be gained with another lender. So, it is important to keep seeking until a lender is found.
Obtaining credit is necessary for many small businesses. Knowing what steps to take in this process can greatly increase an approval from a financial institution. Now, put these five tips into practice and be on your way to getting the credit you need for your business venture.
Tip #1: Decide on the type of commercial loan that is needed. Loan options include short-term loans, intermediate loans, long-term loans, and lines of credit.
Short-term loans are usually for less than a year. They typically provide interim working capital for a business temporarily in need of cash.
Intermediate loans are often used for business set-up, the purchase of new equipment, expansion, or an increase in working capital. This loan can be anywhere from 1-3 years.
Long-term loans are for major capital improvements, acquiring fixed assists, and business start-ups. The loan term is usually from 3-5 years and repayment installments are on a monthly or quarterly basis.
A line of credit gives a small business the ability to borrow money repeatedly, up to the credit limit. The lender will usually perform a review once a year, at which time the borrower is asked to update financial statements.
Tip #2: Make sure all paper work is in order. Applying for commercial loans can be very tedious and requires much more documentation than applying for consumer credit. So, the key is to be prepared. In addition, entrepreneurs who have carefully put together the needed paperwork to include the loan purpose, the amount of money needed and for how long, and a repayment schedule proposal will be viewed more favorably by many lenders.
Tip #3: Develop a well thought out proposal. The proposal should include the loan purpose, the amount of money needed and for how long, and a repayment schedule proposal. Points to include are the business description that tells the nature of the business, product and service, a personal profile, and a business plan that outlines the corporate strategy for the next three to five years. Additional points to add are supporting documentation that supports the information outlined in the proposal, and collateral that will be used to secure the loan. Financial statements, both personal and for the business, are important as well.
Tip #4: Seek advice! It is important for entrepreneurs to talk with someone who has gone through the process of obtaining commercial credit before a lender is approached. This is especially important for the first time buyer. Entrepreneurs can approach mentors, qualified business counselors, business support groups, and the U.S. Small Business Administration. This step will increase the chances of getting a favorable credit decision.
Tip #5: Be prepared to pursue various options. Sometimes, financial institutions will say no. Once again, obtaining credit can be difficult, especially for entrepreneurs who are first-time borrowers. However, since financial institutions have different standards, an inability to meet the standard of one lender does not mean one fails the standards of all. It is highly possible that credit approvals can be gained with another lender. So, it is important to keep seeking until a lender is found.
Obtaining credit is necessary for many small businesses. Knowing what steps to take in this process can greatly increase an approval from a financial institution. Now, put these five tips into practice and be on your way to getting the credit you need for your business venture.
How to retain good talent for your business?
The employment market for IT related professions is finally back in full swing. After 4-5 years of outsourcing, downsizing and complete company shutdowns the employees in Information Technology finally have a choice again. Many IT employees were holding on to existing jobs to wait out the drought and the storm out there. Others were not so lucky and had to find a new job - either in the same field or in a different career path. In most cases an employee ended up with less money and a smaller benefits package. Employers had the choice and could push their requirements and options knowing that the employees had not much choice.
But now things are changing again and if an employer was using the low salary with no benefits approach for the last few years he better is prepared for the backfire. Employees read the same publications and the same statistics as the employers does. The IT employees know everything about outsourcing, right sourcing or best sourcing or whatever acronym employers came up with to disguise the fact that work can eventually be done for less by someone else. Employees also know when the market starts picking up again and an employer turning a blind eye to that fact can shoot himself in the foot this way.
So, what can employers do to retain talented people when the market picks up again? In some cases there is nothing they can do. If the employer added insult to injury (meaning: treating the employees like slaves during the market downturn) the employees will leave as soon as a better opportunity comes their way - especially if the opportunity is provided by a company that treats employees with respect and offers a fair salary. If the losing employer thinks they can fix the problem by now offering a little more money they are in for a surprise. If you kick a dog into the guts for 5 years he will still shy back even if you are mow offering a cookie. The money saved by offering no benefits and low salaries will now have to be spend on hiring a new employee for a higher market value (remember: the market picked up already) and the loss of productivity for a while until the new employee is properly trained cuts into the margins. It would have been cheaper and better to avoid low-balling right from the beginning.
Companies that value their employees usually have fewer problems retaining the talent. They even get new employees referred by existing ones which often proves to be a good choice when hiring new talent. Small treats during hard times can pay off easily. If an employer explains that overall money is tight due to market conditions, but then shows appreciation when the market picks up gains much more respect than somebody trying to squeeze employees to the last drop. Free pizza lunches every once in a while or a gift certificate for Best Buy or the movie theatre help in keeping morale high and people motivated during hard market conditions, too.
But now things are changing again and if an employer was using the low salary with no benefits approach for the last few years he better is prepared for the backfire. Employees read the same publications and the same statistics as the employers does. The IT employees know everything about outsourcing, right sourcing or best sourcing or whatever acronym employers came up with to disguise the fact that work can eventually be done for less by someone else. Employees also know when the market starts picking up again and an employer turning a blind eye to that fact can shoot himself in the foot this way.
So, what can employers do to retain talented people when the market picks up again? In some cases there is nothing they can do. If the employer added insult to injury (meaning: treating the employees like slaves during the market downturn) the employees will leave as soon as a better opportunity comes their way - especially if the opportunity is provided by a company that treats employees with respect and offers a fair salary. If the losing employer thinks they can fix the problem by now offering a little more money they are in for a surprise. If you kick a dog into the guts for 5 years he will still shy back even if you are mow offering a cookie. The money saved by offering no benefits and low salaries will now have to be spend on hiring a new employee for a higher market value (remember: the market picked up already) and the loss of productivity for a while until the new employee is properly trained cuts into the margins. It would have been cheaper and better to avoid low-balling right from the beginning.
Companies that value their employees usually have fewer problems retaining the talent. They even get new employees referred by existing ones which often proves to be a good choice when hiring new talent. Small treats during hard times can pay off easily. If an employer explains that overall money is tight due to market conditions, but then shows appreciation when the market picks up gains much more respect than somebody trying to squeeze employees to the last drop. Free pizza lunches every once in a while or a gift certificate for Best Buy or the movie theatre help in keeping morale high and people motivated during hard market conditions, too.
Want to earn more Profits
It's a simple yet common question, "How can I make my business more successful?"
Success can mean a lot of different things to a lot of different people but when it comes down to it, the success of your business should only be measured by one thing - profit.
At the end of the day, it's not how many people came in to your store or phoned in. It's not even how many widgets you sold. At the end of the day, what truly matters is how much of a profit you made.
It would make sense then that your efforts focus on profit as the end result. With that in mind, there are only three strategies to increase profits for your business.
1) Increase the dollar size of each order
2) Increase the number of times people buy from you
3) Increase the number of people who buy from you
Most likely, your business is already primed to attack each of these three angles and implementing that attack should be fairly easy.
Let's say that you are the owner of Happy Wicks Candle Store. Let your customers know that for every $50 they spend they will receive a free 4-inch candle. When they are eligible for the free candle, offer them the option of upgrading the 4-inch candle to a 6-inch candle for only four dollars.
Implement a customer loyalty program. Whenever a customer spends $200 with your store they receive a 20% discount on their next order. Show loyalty to your customers, too. Create customer-only events and sales, even workshops on how to make candles at home.
Candles are also popular gifts. Be sure to place your contact info on each and every candle. This makes it easy for the gift recipient to purchase from you. Be sure to also use this tactic when co-promoting with similar businesses such as a flower and bath and body shop.
Looking at the example Happy Wicks Candle Store, the tasks of increasing profits was not a difficult one. Truly, it's a matter of putting systems in place that generate increasing profits.
Take a look at your business and examine the systems you have in place. Chances are there's undiscovered profits lying about. Put systems in place to gather those profits and you'll find your business reaching new heights of success.
Success can mean a lot of different things to a lot of different people but when it comes down to it, the success of your business should only be measured by one thing - profit.
At the end of the day, it's not how many people came in to your store or phoned in. It's not even how many widgets you sold. At the end of the day, what truly matters is how much of a profit you made.
It would make sense then that your efforts focus on profit as the end result. With that in mind, there are only three strategies to increase profits for your business.
1) Increase the dollar size of each order
2) Increase the number of times people buy from you
3) Increase the number of people who buy from you
Most likely, your business is already primed to attack each of these three angles and implementing that attack should be fairly easy.
Let's say that you are the owner of Happy Wicks Candle Store. Let your customers know that for every $50 they spend they will receive a free 4-inch candle. When they are eligible for the free candle, offer them the option of upgrading the 4-inch candle to a 6-inch candle for only four dollars.
Implement a customer loyalty program. Whenever a customer spends $200 with your store they receive a 20% discount on their next order. Show loyalty to your customers, too. Create customer-only events and sales, even workshops on how to make candles at home.
Candles are also popular gifts. Be sure to place your contact info on each and every candle. This makes it easy for the gift recipient to purchase from you. Be sure to also use this tactic when co-promoting with similar businesses such as a flower and bath and body shop.
Looking at the example Happy Wicks Candle Store, the tasks of increasing profits was not a difficult one. Truly, it's a matter of putting systems in place that generate increasing profits.
Take a look at your business and examine the systems you have in place. Chances are there's undiscovered profits lying about. Put systems in place to gather those profits and you'll find your business reaching new heights of success.
Prenuptial Agreements: Protect Your Family Business
Imagine this scenario. You have worked very hard to build up a small business for yourself. You are your own boss and your business is running quite successfully. The only thing missing from your life is someone to share it with. You finally meet that special someone and choose to get married. But before you make that step, you start to wonder about this life you have built for yourself. Does she really love me? Is he only after my money? These questions race through your mind. What can you do to make sure that you don't lose everything you have worked so hard for? The answer lies in prenuptial agreements.
In this day and age, owning a small business is not all that unusual. But the work behind it is just as hard now as it was in the past. And there are also more single people out there especially older people who have had longer to build up assets. There is also an increased amount of people out there who are looking for the quick buck and that, coupled with the higher divorce rate and ease of divorce, can make for a costly marriage.
The best thing that a man, or woman, who has built themselves a successful business prior to meeting the right person can do is have their future spouse sign a prenuptial agreement. These agreements protect the owner of the business against gold diggers and anyone who is confident that their marriage will survive should have no problem signing one. On the other hand, if the person you are about to marry happens to be after you for your money as you so much feared, then they will likely refuse to sign and this will let you know that this (right) person is not so right after all.
Now, imagine, working so many years making a name for yourself and putting aside money for your retirement and then meeting the woman of your dreams. You are swept off your feet and rush off and get married to a woman that you are so deeply in love with. Your marriage is so perfect and you couldn't ask for anything more. Then several years down the road, she hits you with the request of a divorce. It seems to come out of absolutely nowhere and you are completely heartbroken. You go to court and end up having to fight for the one thing that you have worked hard at. You end up losing half of your money and your business to the woman whom you thought loved you. And she is laughing all the way to the bank. This was in her plan all along. Sacrificing a few years of her life meant nothing to get all that money.
This doesn't have to happen to you. You can do prenuptial agreements several ways, so consulting an attorney and getting it done the way that is right for you is important. Some prenuptials will allow the spouse to acquire some of the assets earned during the marriage years while others will leave all the assets to the business completely off limits. Make sure that you do your research so that the prenuptial agreement is done properly.
Just because you have spent so many of your years building a successful business does not mean that you have to either spend your life alone or risk losing it all. Trust is a very important thing in a marriage, but there are so many people out there who are good at making you believe something that isn't true. Everyone always says that it can't happen to them, but truth is, it can happen to you and is more likely to if you are not prepared.
In this day and age, owning a small business is not all that unusual. But the work behind it is just as hard now as it was in the past. And there are also more single people out there especially older people who have had longer to build up assets. There is also an increased amount of people out there who are looking for the quick buck and that, coupled with the higher divorce rate and ease of divorce, can make for a costly marriage.
The best thing that a man, or woman, who has built themselves a successful business prior to meeting the right person can do is have their future spouse sign a prenuptial agreement. These agreements protect the owner of the business against gold diggers and anyone who is confident that their marriage will survive should have no problem signing one. On the other hand, if the person you are about to marry happens to be after you for your money as you so much feared, then they will likely refuse to sign and this will let you know that this (right) person is not so right after all.
Now, imagine, working so many years making a name for yourself and putting aside money for your retirement and then meeting the woman of your dreams. You are swept off your feet and rush off and get married to a woman that you are so deeply in love with. Your marriage is so perfect and you couldn't ask for anything more. Then several years down the road, she hits you with the request of a divorce. It seems to come out of absolutely nowhere and you are completely heartbroken. You go to court and end up having to fight for the one thing that you have worked hard at. You end up losing half of your money and your business to the woman whom you thought loved you. And she is laughing all the way to the bank. This was in her plan all along. Sacrificing a few years of her life meant nothing to get all that money.
This doesn't have to happen to you. You can do prenuptial agreements several ways, so consulting an attorney and getting it done the way that is right for you is important. Some prenuptials will allow the spouse to acquire some of the assets earned during the marriage years while others will leave all the assets to the business completely off limits. Make sure that you do your research so that the prenuptial agreement is done properly.
Just because you have spent so many of your years building a successful business does not mean that you have to either spend your life alone or risk losing it all. Trust is a very important thing in a marriage, but there are so many people out there who are good at making you believe something that isn't true. Everyone always says that it can't happen to them, but truth is, it can happen to you and is more likely to if you are not prepared.
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