Are You Getting The Most Out Of Your Database?

Imagine how much simpler your life would be if you had all your business contacts together in one place. One click of your mouse would reveal how effective your latest marketing campaign has been. Know at a glance which of your products/services is the most profitable.

Your custom-designed database will put this information right at your fingertips. Today, I'd like to share with you my tips for ensuring that your database gives you the business information you need, when you need it!

What is a database?
A database is a collection of information relating to a particular topic kept together in one place, for you to access whenever you need. You can use a database to simplify your:

MARKETING CAMPAIGN--set up a database to plan your marketing  campaign; track results of your marketing campaign; or analyse trends in your marketing campaign.

CLIENT & CONTACT MANAGEMENT--set up a database to keep track of your clients and contacts; analyse your business--which products/services are the most profitable; or see which clients are buying which product/service.

FINANCIAL MANAGEMENT--set up a database to keep track of your spending; manage your invoices to clients; or monitor overdue invoices.

MEMBERSHIP ORGANISATIONS--set up a database to keep track of members; send out membership renewal letters; or monitor subscriptions.

Your list for database uses will likely be much longer--just brainstorm a list of all the places where consolidated information would make your life easier!

The secret's in the planning
You want to get the most out of your database, right? Then make sure to plan it right from the start.

Before you go running off to set up your database you need to ask yourself these important questions:

::What do you want to use your database for?
::What data do you want to keep track of?
::Who will be collecting the data?
::How much data is there to collect--50 records or 500 records?
::Who will be doing the updates?
::What reports do you want your database to generate?

You may find it easiest to map this out on a piece of paper first. Work out how your database is going to fit together. How will each category relate to the others?

Get the maximum use out of your database:
By now, you've invested a lot of time in your database plans, design, and  setup. Don't miss this important step: getting the most out of your creation.

First, you'll want to make the database as easy to use as possible. Create  one-click touches to produce the information you need. Set up shortcuts so you can create the most important reports quickly. And make sure you really consider the easiest way to enter new data.

By applying this advice in your own database, yours will be easy to use AND  have the maximum use value to you!

Answering Service, What Every Small Business Needs!

An answering service is what every small business needs. Anyone who has ever worked for a small business, or has owned a small business knows that the answering service is a true God send. Every time you are not able to answer the phone, you take the risk of losing business. With an answering service, you don’t worry about missing important calls. Whether its an emergency or just an important client that needs a fire put out, answering services can meet your need.

Think about a day with and without an answering service. You are taking a much needed day off and your secretary calls in sick. Your staff is out in the field doing whatever it is they do and your phone is MIA. Your biggest client needs a fire put out and needs it taken care of immediately. If you didn’t have an answering service what would be your options. Cancel your much needed day off and answering the phone yourself. Or, let your answering service handle all the calls and only notify you in an emergency or if a big client calls. Now you can enjoy your day off with the piece of mind knowing that if anything comes up, you’ll be the first to be notified by your very own answering service.

If you don’t currently have an answering service in your bag of tricks, maybe its time to investigate what an answering service can do for you. Believe it or not, answering services are relatively inexpensive. Considering how much money they can either make you by routing important calls to you from prospective new clients or save you by letting you know your number one client needs something done ASAP. Get an answering service today and grow your business with the piece of mind knowing that your answering service will keep you adequately informed of any important incoming calls.

An overview of Indian Market

Nowadays, outsourcing has become one of the most reliable alternatives for foreign firms to delegate their tasks to other nations in order to meet their goals of fulfilling their tasks in the field of either IT, generating software’s, or passing their companies information to customers. It is an act of providing the services in the cheapest way by means of assigning their work to countries which are economically low and hence have lower costs. But as for outsourcing, it also generates some pros and cons, specifically, outsourcing to India.

The very first benefit as they see is how much money they can save by outsourcing. India tends to provide its services in possibly one of the cheapest costs in the world. They are more knowledgeable in the fields of networking, IT and overall in the field of computers as compared to other counties. However, they are paid much less than the employees in Western countries which can make their work done in much discount whereas India can make its mark globally and economically around the world. Many workers are much more knowledgeable that their western counter-parts in mathematics, science and technology, as it helps in doing the work much effectively. Also, this helps in building the bridge in communication between the two countries in order to achieve the same purpose.. Also, foreign countries can get much more opinions and suggestions from their outsourcing team. Getting access to better technologies at the cheaper cost means that productivity increases.

However, the disadvantages of outsourcing to nations like India also should be put into consideration where the risk involves getting proof whether the company will stick with the work outsourced to them, and whether they perform their task effectively till the end of the project.

Communication barriers can also play their part in creating misunderstandings of the task. Also, cultural barriers need to be put into consideration before outsourcing work to countries with different cultures. Although, outsourcing to the country like India can be seen as a win/win situation but these misunderstanding can rift in the working relation .also, time difference plays a vital role in the miscommunication and this can lead to the work to be perform in an ineffective way. It is also much more necessary to check out the company to whom you’re outsourcing data and to see whether the company is motivated and capable in performing the task.

Usually, the business is spread in an international basis and a large number of information is communicated between the two companies situated far away though networking, so the possibility occurs where an unauthorized person can gain access to the computer and the basic information can be stolen and also chances of the data to be copied and can be sale out to your competitors.

Hackers who are much more knowledgeable in getting and knowing how to enter the basic data and gaining the companies information, can possibly make your company a victim and your information through networking can possibly be mishandled and can be hacked , These basics disadvantages can put you down from outsourcing to India ,where they can also seen as a barriers in achieving the tasks , and company have to think twice before outsourcing to India.

However ,outsourcing to the nation like India have their pros and cons and usually can be seen as a positive step , but some Basics tips should also be considered for a safety measures . Before the work to be outsource, your company should have a vast research for the appropriate company which can perform the task in the appropriate way and to see whether the company is reliable in performing their task.. India is a great place to find incredibly reasonable programmers and web services provider. Where as, dealing people in India, you have to be polite and just not avoid small talks to find whether they are up to their mark. You have to be firm without being rude until u get your entire question to be answered. Be clear about your project and explain what you need from them.

Usually most of the companies wants the foreign firms to do everything with them, so to be on the save side don’t do everything with one company and should have a necessary backup plans , don’t put all your eggs in the same basket. People in India are far more eager to work in many cases who go through many of the struggles and triumphs that’s why foreign countries find India as a better option to outsource the work.

An Easy Way To Make Your Small Business More Visible-For Free

No two small businesses are alike, but most want to be like their larger counterparts in some key respects. For example, even if you own a company with only a few really great customers, you want to be visible enough to attract new customers, boost your odds of securing repeat business and do all you can to improve customer satisfaction.

The key, according to the U.S. Small Business Administration (SBA), is having a business Web site. The SBA's own Web site notes that the Web "levels the playing field between small business and big business" because it is such a dynamic, inexpensive medium for advertising and customer service. "The Internet is making it possible for small- to medium-sized businesses to compete with the big guys," the SBA said.

Conventional wisdom says that any business without a Web presence these days is at a distinct disadvantage, but the latest International Data Corporation (IDC) small-business research exposes a surprising gap. The IDC research found that of the 6.8 million businesses in the United States with fewer than 10 employees, only 3.8 million have a Web site. "That means 3 million U.S. small businesses-or 44 percent of the total-aren't using the Internet to promote themselves online or engage customers and prospects," said Ray Boggs, vice president of Small/ Medium Business and Home Office Research at IDC. "In today's connected world, companies that take that step generally find that having their own Web site can deliver a significant opportunity to grow their business, especially if the site is updated regularly."

Clearly, small businesses (and many of their customers) are online, yet more than half aren't exploiting the full power of what the Internet can do to help build their business. That power includes creating a dynamic Web site to attract and retain customers, taking advantage of search engines to heighten awareness of a company in today's global marketplace, and communicating with customers around the clock or at their convenience.

What stops small businesses from stepping up to this level? For many, the barriers are cost, complexity and inconvenience. By its nature, a small business typically has a small budget and an equally small staff. Unlike the larger companies it competes with, a small business generally can't afford to spend thousands of dollars to buy a server, create a complicated infrastructure and hire an IT technician to keep it all running smoothly.

The good news is that some new offerings are cropping up that allow you to establish a Web presence without heavy-duty in-house technical resources and a big cash outlay. For example, Microsoft Corp. has a new Internet-based service called Microsoft Office Live, which at the most basic level provides a small business with a domain name, e-mail accounts and a Web site for free.* It's one of the quickest and easiest ways today to get your business on the Internet. And, because it's supported by advertising revenue, and the advertising is designed to be unobtrusive and not appear in the customer's public-facing Web sites, the basic offering is free. Yes, it's free, and you can sign up to test-drive the service.

"I need an attractive, easy-to-navigate Web site that I can update frequently and efficiently. With Office Live, I can create a slide show of a sailboat race and have it online before the boats even get back to the dock," said Elizabeth T. Becker, a freelance writer and photographer and owner of Seaport Photography. "That means I get to spend less time in front of my computer and more time behind my camera. It's smooth sailing."

With such an all-in-one solution, a small-business Web site really is a no-brainer. Look at it this way: In a day and age when the majority of Americans use the Internet regularly, it's highly likely that a large percentage of your customers do, too.

All-in-one folder production companies effective for businesses: big or small

Working in an office environment makes the effectiveness of proper office supplies important. Whether a business is large or small, printing folders for presentations can be done in a cost effective manner. However, most companies make large quantities price cuts, which often has smaller businesses buying less so to stay on budget. While working for myself, the need for small runs of professional looking products is vital to my success.

When shopping for a printing company, I discovered that most often these other printers produce folders on low-quality stock that creases easily, leaving them looking non-professional. Some companies even have you doing some do it yourself assembly, which adds to the overall time frame of the work. However, one company seems to fit the mold to avoid all of these disadvantages for companies and offers an added bonus --- free business cards.

With their help, cost-effective projects are completed, which promote the products and services of your company. They often are the proper solution for your printing problems, while being printed on 350gsm silk stock. In addition, all the assembly is done when you receive the job. Each folder includes a spot to place your business card, which adds to the overall professionalism involved with the folders.

The quantity you need will be printed --- no minimum quantity orders are processed. Designs are also available to be created in case you do not have in-house designers or just don’t have the time to put into it. A team of creative, talented and professional designers will create a design to fit your professional needs. Often times, printing projects are a stressful task for businesses. By leaving it to the printing company to design, print and assembly, businesses can relieve themselves of the stress involved with this work.

Most wonder how one company can work this way while others require minimum runs that most often discourage small businesses from doing business with them. However, with this work ethic, maximum efficiency occurs and overall customer satisfaction occurs. With professional presses, high quality prints are created even on low runs and leaves me satisfied with every order.

Overall customer satisfaction is important. When ordering because of their PDF workflow ethic, I was able to receive proofs of my design before it was printed. This added to my overall satisfaction with the company. Overall, with keeping all businesses in mind, the future success of their work will be continued to supply professional looking products for its customers – big or small.

Advantages of Inventory reconciliation Management

Inventory management refers to the procedure of organization the stocks of finished products and supplies by a compact. Inventory management, if done accurately, can transport down expenses and increase the profits of a compact. Not a substance what the business size it must administer many fixed assets, types of assets, quickly changing asset bases, many locations, and ever-changing tax laws and requirements. Fixed asset inventory software can also reduce encumber of fixed asset reduction calculations for financial and tax exposure, asset inventory tracking and reconciliation services, and private property tax filings. Inventory management software has an amplified business on the web, following the importunate increase and achievement of e-commerce. Inventory management software helps administer inventory from any location in the world. Inventory management software is perfect for business. Inventory management software correspondences are designed for inventory control. The software makes easy the making of an account, and inventory control, stock balance management, goods item direction. Our Accounting Services, a company leader in this area of specialty, can provide to the demanding supplies of global customers in Inventory management. Inventory management software solution packages:

• QuickBooks
• Peachtree
• Sage Line 50
• Quicken
• MYOB
• IRIS
• La Certe
• Pro Tax

Inventory software can create the assignment of fixed asset managing easier from achievement through removal. Software such as this eliminates superfluous data entry, enhances accurateness, and reduces costs over handbook tracking of fixed assets. There is inventory software accessible from the essential system of normal barcodes to the more complicated long range asset management. Some business offer inventory software on the internet. As well there are businesses for appoint that will approach. Using complicated devices for gathering of data, our inventory management team captures asset attributes professionally at the point of entry. This ensures benefit information in detail, and accurateness.

Advantages and Disadvantages of doing Data Entry versus OCR

Want a digital format of the hard copy of any document? OCR (Optical Character Recognition) technology can be the right option. Changes are taking place in the field of Data Entry service with the improvement of modern technology. Apparently, you may think OCR service as a substitute of data entry service, however, OCR services come with both advantages and disadvantages.

Overview of OCR

Optical Character Recognition is a modern technology for digital replication. OCR technology comes with software, hardware and an additional circuit in the computer to execute conversion process. OCR software can not only read the fonts but also recognize line breaks in a document. The process of OCR is quite simple and easy to manage. The entire process of converting hard copy of a document into electronic document may take only a few seconds.

Advantages of OCR

If you are looking for only converting any document into editable digital format then there is nothing better than OCR services. Optical Character Recognition process saves the time and effort of developing a digital replica of any document. No need to type characters manually on a digital file. Just place the hard copy of the document inside a scanner and get the digital format of that document with the help of OCR software.

With OCR process you can convert a document in several electronic formats like – Microsoft Word, Excel, HTML, PDF, Text or Rich Text formats.

Documents, which are converted through OCR process, are editable and allow the user to modify the content. Compared to manual data entry service the cost of OCR service is quite less for developing electronic replica of any document. OCR service proved better than data entry service for the organizations, which are engaged in developing electronic copy of printed books.

Disadvantages of OCR Service

There are several disadvantages of OCR service regarding the cost as well as the process of recognizing the characters. Initially, the cost of developing replica through OCR process may seem lucrative but if you consider the cost of entire OCR system life cycle, the cost will be much higher than data entry service. Correcting OCR errors counts more cost than preparing a digital format of the document.

High accuracy OCR software can read more than 400 characters/second, approximately, and generates less number of OCR errors compared to any ordinary OCR software. Therefore, if you are looking for OCR process you have to maintain a separate workstation for correcting OCR errors.

OCR software is not efficient in recognizing the handwriting and the fonts, which are quite similar to handwriting. In such cases manual typing plays better role than OCR process.

How efficient is Data Entry Service  than OCR?

Compared to ordinary OCR process, conversion life cycle cost is less in data entry service and it provides complete flexibility to data entry operators preparing digital documents from multiple formats like hard copy or audio files. Consider the service of medical transcription where you need to prepare digital documents from audio files. OCR cannot prepare digital document by scanning any audio files. In such services, data entry can prove better than OCR.

It has been found that for services like mailing list conversion or data extraction from the Internet, manual data entry services are still widely accepted across the industry. Data entry service comes with several levels – staring from inserting raw data in a document to an error free document. OCR is efficient during the initial level of data entry service but cannot be a substitute of data entry service. However, the selection of a right service (Data Entry or OCR) depends on requirements of the job.

Accounts Receivable Factoring - A Viable Cash-flow Solution for Small and Medium-Sized Enterprises

The pace of change in today’s business environment is inarguably staggering. Growth of e-commerce; changes to business structures; evolving relationships; changes to funding arrangements; access to capital and its sources. All occurring at increasingly exponential rates. Fast. The fact that there is more computing power in the average notebook computer today than it took to put a man on the moon should illustrate how fast things change, and whether in senior management or a business owner you need to keep pace.

In particular, you must stay abreast of changes in your competitive environment, and remain fully apprised of mechanisms that will enable a response fast enough to keep you in the game. This article will look at one of those mechanisms, access to capital and through that, free cash flow. In doing so we’ll use an intuitive framework, peppered with some economics. Why? Intuitive analysis is ideal for answering specific questions; in this case ‘What will best enable my firm to manage rapid changes to competitive economic conditions and stay in the game?’ And I’ll use economics because of Steven Levitt, America’s most outstanding economist under-40, who along with Stephen Dubner considers that ‘if morality represents how we would like the world to work, then economics represents how it actually does work.’

By speaking to specific anchor points, strategic issues affecting the access to capital problem can be explored and initiatives developed to allow a timely solution. In short, it’s the fastest and most accurate way to answer the question you face, because it’s easier to understand and doesn’t get bogged down in extraneous, unnecessary analysis.

One of the anchor points in contemporary business is access to capital, especially when it helps maintain free cash-flow. In many respects they are one and the same thing, the difference merely being access to capital is a necessary precursor to free cash flow (you can’t use it until you have it). And everyone needs it. Payroll, materials, overhead, and debtors taking anywhere from 45 to 120 days to settle their accounts, using your firm as a surrogate line of credit.

Access to capital becomes an even larger issue in the business environment described earlier, where speed to market and the ability to ‘tool-up’ (increase production) are crucial to meeting ever shrinking delivery timelines. Many of us have experienced the elation of being awarded a large tender, something that will fill the order book for the next six months, immediately followed by the hangover that comes with the realization that the firm will struggle to fund the project based on existing and forecast cash flow.

Small-to-medium enterprises encounter particular problems when it comes to cash flow and capital access to fund growing operations, to the point where lack of access is an issue that can threaten continuing operations, even in a rising market. Balance sheets take time to build, and it is against this security that banks will lend.

Developing initiatives to tackle this problem involves looking at some existing options and making a comparison, arriving at a decision that best enables a solution to the problem at hand. In this instance, a comparison of bank funding against invoice factoring provides insight into possible solutions for the capital access / cash flow problem.

A Vending Machine Distributor – Find Out What How This Person Can Help You

A vending machine distributor is a person that sells and delivers vending machines of all kinds. If you are planning to get started in the vending machine business, you do need to start with a distributor in order to get the machines that you need. The distributor could be a single person that sells the vending machines out of his/her basement or it could be a large company with salespeople and a catalog that you can browse through. The vending machine distributor works with the vending machine manufacturers to bring you the machines you want to use in your business.

When you want to start a vending machine business of your own, the first thing you need to do is find a vending machine distributor that has the type of vending machines you want to start with. The problem is knowing how and where to find the distributor and what vending machines are right for you. Many of the distributors you contact can give you valuable advice about what types of vending machines would be best for your area. The distributors that deal with your area will also be able to give you advice about getting into this type of business opportunity. Vending machine routes may be available where the machines are already in place.

As an independent vending machine business owner just getting started, you may not be able to deal with the manufacturers of the machines. This is where a vending machine distributor can really help you. These people know the manufacturers of all the different types of machines and may be able to put you in contact with someone that has used vending machines for sale that are in excellent condition. Since the distributor is usually a good client of the manufacturer buying many machines, for you and others taking advantage of a vending machine business opportunity, he/she will also be able to get a better deal on a new machine.

The Internet is your best source of finding a vending machine distributor. When you come across a business opportunity, vending machine distributors will be able to get you any type of vending machine you want. These people may also be able to supply you with the products that you need for stocking and restocking the machines. This is one factor that you do have to consider when you want to start a vending machine business – how difficult or easy it will be to get the products that you need. You also have to consider the location of the distributor in relation to where you are so that the costs of shipping the machines and the supplies will not be too expensive.

Just looking at the website of the vending machine distributor will give you a pretty good idea of whether or not this person is right for you to deal with. Check to make sure that the distributor keeps the website up to date and that he/she does have the latest vending machines available. Once you find a distributor that you think you might be able to work with to start a vending machine business, you should contact him/her by email or telephone to get further information. In addition to finding a vending machine distributor, you do need to check the references to make sure that you will be dealing with a reputable distributor.

A small Small Business summary

Small business is a term that is used day-to-day. That is because in the past decade the rise of small business has been larger than in any other decade prior. This is largely due to the increasing number of services that are available to small business owners, to enable them to keep their business running.

There really isn't any guidelines for when the term small business is used, however it is simply defined as a business which has a small number of employees. How few employees is debatable, and the definition of when a business changes from a small business to a larger corporation varies both by country and industry. This number is generally less then 100 employees.

As mentioned before small businesses due to their nature, are in most times sole proprietorships, partnerships, or privately owned. Common in may countries, small businesses, are most oftenly related to: accountants, restaurants, guest houses, photographers, small shops, hairdressers, tradesmen, solicitors, lawyers, small-scale manufacturing etc.

Small businesses in often cases are located in private homes, for two main reasons. The first is because it is economical and in most cases convenient. The second reason is that there are several benifits with tax,etc for having your business in your home.

Running a small business is an exciting venture, and a great way to introduce yourself into the business world, and to gain business sense. If you are interested in starting your own small business, I would recommend having a talk with a local lawyer or accountant, who will be able to answer questions that are specific to your local area. Good luck with your new venture!

A Phone by Any Other Name...

I recently left the company I was working for and took a new position with a new employer at a much higher salary.  My business is IT, and I left the comfort and stabilty of my old job to work for a startup firm which I think will be a big success.  They knew they were going to have to pay for quality personnel so they had no problem meeting my demands in terms of salary, benefits and stock options.  What I didn't realize is that while they aren't skimping on compensation, the office environment they provide leaves a lot to be desired.

I can put up with the miniscule cubical.  I can live with the lack of natural light (although I feel like a cave troll).  I can even do without the cafeteria, water cooler, and coffee maker.  What I really miss is my old phone. 

You see, my old phone was indeed, not an "old" phone.  It was a multi-line handling, LCD displaying, caller IDing monster that gave me more options than a new car salesman.  My "new" phone has none of those amenities.  There is no transfer or hold button, no screen to display who is calling, no headset and no electronic directory.  In short, the only difference between this phone and a Garfield phone you might buy at Spencer's Gifts is that this phone isn't shaped like a cartoon cat.  My job would be so much easier and my days so much more productive if only we had a real office phone system in place.  The current system is so poorly automated that only a very small percentage of the calls I get are actually meant for me.  Likewise, I get several E-mails a day asking why I haven't returned phone calls in regard to messages I never received.

I guess the old addage that "you don't know what you've got until it's gone" really holds true in this case.

Since I came here, I have actively lobbied to have the old phone system replaced, but to no avail.  I think I may be the only one here who knows what he's missing.  Oh well...I'm sure I'm not the only one out there who has experienced this.  Maybe you too have lost a beloved phone in a career move.  I sympathize with you.  I'd leave my number so we could comiserate, but you'd probably never reach me anyway.

A Call to Action

Because of a recent boom in business, my company needed to update our office phone system. We had a very nice system in place already, but our business had tripled within a matter of months. Since we rely on phone orders for the vast majority of our sales, we needed to upgrade in order to handle the increase in call volume. We were lucky to have a great relationship with our telephone equipment provider, as within days we were able to have a new system ready to put in place. It's not often that businesses find themselves in situations like this, but when they do come up, it's important to know that the companies you have chosen to do business with are capable of meeting your needs in a timely manner. 

Prior to this happening, we had a trunk study performed, after which we were told that we were losing business as a result of not having a new phone system in place. Anyone who has ever run a business knows that losing money because you are ill equipped to handle your customer's needs is the worst way to lose money. Being able to make a phone call and knowing it would be taken care of quickly and efficiently was a great relief to me. I knew that with every passing day, thousands of dollars were being lost and that's something I couldn't afford to let happen. The whole situation made me think about the importance of knowing qualified vendors who can get you the products you need, when you need them.

I soon began looking into other areas where we were dependent upon other companies for goods and services to see if we were utilizing vendors who could facilitate the changes our growing business was experiencing. After a long, hard look, we decided to switch shipping companies and to switch to a new overnight call center operator. It's not that our needs weren't being met at the time, but that if things continued to grow, we would likely outpace our current vendor's ability to provide service. Being proactive in your business relationships is just as important as being proactive about your business. After all, most companies depend on other companies to make their operations run smoothly. I encourage all business owners to seek out the service providers and vendors that can handle your needs both now and in the future. When your business grows, you'll be happy you did.

Stop the Stupid Stuff In Your Business

We are living in a world of change. Shift happens! Competition comes from all over the world, which means that many American businesses are in trouble.

Many decisions are being made that are contrary to both good business sense and building customer loyalty.

Most organizations' marketing is usually an exercise in figuring out what to do to get current or potential customers to spend more dollars with them.

I'm suggesting that instead of thinking about what to do, figure out what to stop doing. In other words, stop doing the "stupid stuff."

Not doing the stupid stuff means finding out what prevents customers from spending money with you and making sure that that action or reaction never happens again.

Here's an example of what I call "stupid stuff." Some airlines now want to charge customers who want to speak to a live agent.

That's stupid stuff in two ways. First, they've chosen to penalize customers who want to continue getting what they've always gotten - one-on-one attention. Worse, they've done it by saying they will charge more for this previously standard level of service. How many customers will they lose because of this decision? I know of at least one.

There are more subtle, but no less damaging, stupid things businesses need to stop doing.

Take, for example, the new Wheaties boxes. General Mills recently introduced Wheaties boxes with photos of the U.S. Olympic gold medalists. One was missing: Paul Hamm. Why?

This was General Mills' response to my inquiry:

"Selecting a Wheaties Champion has never been an easy task, especially when we have witnessed so many outstanding performances by so many championship athletes. But it simply isn't possible to honor every champion on the Wheaties box."

So they leave off the first U.S. man to win the Olympics all-around gymnastics championship in one of the sport's greatest comebacks? His return from a disastrous fall to a near-perfect high-bar routine won near-universal praise and, for most of us, defined the word "champion."

But there was controversy. As most of you know, a South Korean gymnast claimed that a scoring error cost him the gold and appealed to the Court of Arbitration for sport. The court recently ruled that Hamm can keep the gold medal.

Even though the medal was disputed, it was not because of anything Hamm did or did not do. Still, General Mills decided to do the "safe" thing. But by being safe and leaving out Hamm, Wheaties is alienating the millions of customers who see him not as controversial, but as a hero, and losing customers in the process. Now that's "stupid stuff."

So start stopping! Stop saying "No" and start using the word "Yes." Stop charging for services that most of us think are free.

Find out what exasperates, discourages, hassles or confuses your customers and stop it.

Powering Off or Power On?

Do you take your laptop on vacation?  Do you sometimes hate your cell phone or your Blackberry?  Harris Interactive recently reported that one-third of vacationers take their laptops on vacation.  During a Sunday meal at a restaurant recently, I observed a man sitting with his family talking on his cell phone -- obviously about business. He was not happy neither was his family! 

To paraphrase Charles Dickens, It is the best of times.  It is the worst of times.  Certainly that applies when it comes to connectivity. Stories of 9-11 victims being able to communicate with family members in the last minutes of their lives warmed my heart, while the story my friend told of her mother answering her cell phone in the delivery room during the birth of her grandchild chilled my soul. 

How grateful I was for my cell phone when I came across a young woman stalled on an interstate without one, and I could immediately get help. How convenient it is on vacation to use the Internet to explore the options for entertainment in the area on a rainy afternoon, and get directions to find it easily.  How comforting to know that my family can reach me in case of an emergency or something to celebrate! -- regardless of where I am in the world.  The same can be said for my colleagues. 

So here`s the question:  Should you take your laptop on vacation?  Should your cell phone be on 24/7?  Clients often ask, What should I do?  My answer:  That`s the wrong question.  The question is What will you do?    Maybe an even better question would be What would you like to do?  Perhaps the best question of all is What action will bring you the best results?   In order to answer that question, you have to take the time to answer What ARE your best results? 

Repeatedly I have emphasized that one definition of organization is controlling the things you can control, so you can cope with the things you can`t.   In the complex world in which we live, especially with the level of connectivity available, it`s easy to fall into the trap of feeling that we are victims of other people. I cringe when someone complains about having to answer their cell phone.  Says who?  If you don`t want to be reached, you can power off.  If you have to be reachable because your job requires it, then the question may be Am I in the right job?  Or, have you simply trained people that you are always available.  Customer service is great, but it doesn`t require 24/7 response.  It requires good communication.  It`s highly frustrating to leave a message and get no response for days, but few situations would suffer if the response came one hour later so you could have lunch with a colleague without interruption. 

Connectivity can be addictive.  My daughter, who has her PhD in counseling, reminded me that an addiction is something that reduces the quality of your life and the people around you. 

So what does all this have to do with productivity?  My passion is helping individuals and organizations create and sustain a productive environment so everyone can accomplish their work and enjoy their lives.  When used appropriately, connectivity does help you accomplish your work and enable you to play. It can also undermine your priorities at work, destroy your health, and poison your relationships when used inappropriately. 

The issue is not whether you take your laptop on vacation or leave your cell phone on 24/7. For some people, the ability to check e-mail once a day on vacation brings peace of mind and can be done when others are sleeping or swimming. For others, the whole idea of a vacation is not taking your laptop. There is no right or wrong.  The question is whether your choice is enhancing or diminishing your life and the lives of the people around you.

So Power Off or Power On? it`s truly up to you!

Small Home-Based Businesses Five Simple Steps to Success

Did you know that, in Australia, 60% of small businesses fail in the first twelve months? For those of us who would like to start a small business -- maybe even work from home -- that`s a very discouraging statistic. Does that mean that your business idea is doomed to failure? Far from it! There are steps you can take that greatly increase your chances of success. With a little time and some serious research you can hit the ground running. Let`s start from the beginningЕ The bright idea First, of course, you need to come up with an idea. Typically, business opportunities can be divided into four groups: 1. Offering an existing product/service in an existing market. 2. Introducing an existing product/service to a new market. 3. Offering a new product/service in an existing market 4. Introducing a new product/service to a new market. At this stage of the game the only limit is your imagination. Inspiration can come from anywhere -- maybe you have a hobby that you`d like to turn into a full-time job; you may be on the receiving end of bad service one day and decide to try doing it better yourself; or you may have a talent that you`d like to capitalise on. Once you`ve come across something that you`d like to do, it`s time to take a look at the market and see what`s on offer. Passing the test So you`ve had a great idea and you`re keen to roll with it; now it`s time to put it through its paces. For the purpose of the exercise, let`s say that you have a passion for healthy living, and that you want to distribute a range of lifestyle accessories that promote healthy living with a do-it-yourself approach. Ask around: Is there a market for products that promote healthy living? What sorts of products are available? Who would you be competing with and what do your competitors offer? Do you have the necessary skills to run such a business and -- more to the point -- what would those skills be? Where would your business be located? Once you`ve answered those questions you should have a fairly clear picture of what your business will look like. You source some products and decide to do some further research into the range of lifestyle products offered by a company called Vitality 4 Life. Your own life experience plus some work you`ve done as a dietician has given you the necessary skill sets, and you think that you`ll be able to work from home, giving you more time for family. There is an existing market, but there`s room for expansion. Now it`s time to take a closer look. To be or not to be? It`s time to get down to the nuts and bolts. You don`t want to jump into something feet first and find out the hard way that the budget just doesn`t work. To get started, sit down and work out if you need to hire staff, which means paying wages. If you lease a premises you`ll need to be able to pay the rent, and your location will have to be suitable for your business and target market (which also means that you`ll have to think carefully about just what that target market is). You`ll also need to work out the likely demand for your product/service. OkЕ you`ve worked out that there is enough demand for good quality juicers, sprouters, water filters and other high end accessories to take a shot at a distributorship as a home-based business opportunity. Now you need to make some marketing decisions. Look at me! Look at me! Advertising can be costly so you`ll want to be sure that your advertising budget is spent wisely. That means more market research, this time one-on-one. Profile your customer groups so you can aim your marketing at the right group/s of people. Draw up a questionnaire (a short questionnaire -- people run out patience if you ramble for too long) and hang around outside a few of the local gyms (for our particular example). Come up with a mixture of open questions (What do you think ofЕЕ..?) and closed questions (Do you have a gym membership? Yes/No.); sliding scales can be useful too. For our health accessories business, a good question might be СHow did you hear about this gym? Radio, tv, newspaper, word of mouth etcЕ` Such a question would then give you an indication of the types of media that your target group responds best to. Choose a business name, print up some business cards, buy some stock and get ready to trade! Measure it, manage it! A teacher of mine made the point that, in business, if you can`t measure it you can`t manage it. You need to be able to plan ahead, and to do that you need to know -- or to be able to accurately predict -- your total sales. The equation is simple: number of customers x average sale x frequency of visits per customer per year = total sales. Remember it, revise it often, measure your business and you`ll be able to manage it! Keep an eye on your bottom line and, most importantly, always be aware of your cash flow -- the cold, hard cash that you have in the bank. Allow for invoice periods (14 days, 30 days etc) when you`re planning your budget. The market place has a life of its own, and no one can prepare for every contingency. Put some thought into your idea; make sure that there`s a market for what you`re offering; research, research, research; promote your business effectively; always know what`s going on in your bank account and don`t forget about cash flow! It`s not perfect but, if you follow these few simple steps, you`ll be miles ahead of many new small business ventures. If you`ve heard of a great home-based business opportunity, or have a product or service of your own to market, you`re off to a great start!

15 Steps On How To Welcome Your New Employees

Looking after a new employee during their first few weeks at work can mean the difference between their success and failure as employees as well as your success and failure as an employer, manager or supervisor. 

Proper orientation determines how fast the new employee can be productive and efficient in his or her new job while giving you a good opportunity to make your new employee an efficient part of your team.

Below are 15 suggestions that will help you deal with your new employees during their first few weeks to help make sure that they get started on the right track.

1. Have a induction policy for welcoming and training new employees. Don't just leave it to whoever is available. Human resources should cover the HR side of the induction with a trainer (if you have one) or a senior manager or supervisor covering the more hands on part of the job. Either way the following is a minimum of what is required.

2. Give your employee a warm welcome. Don't just point them to the area they work and let them get on with it. Nothing makes a new employee feel comfortable more than a warm welcome.

3. Give them a brief description about your role as a supervisor. Knowing who's in charge and what you expect from them will make them more comfortable with you as the boss.

4. Give your new employee a welcome tour of the whole department or, if the site isn't too big, the whole site. Make sure they know how to get to the bathroom, emergency exits, cafeteria, etc.

5. Give them a brief summary about the company, its history as well as its mission and objectives.

6. If possible demonstrate your company’s products and/or services, paying particular attention to the products relating to the area in which the employee will work.  This will make them more secure and confident with the work that they are going to be doing.

7. Explain to your new employee how the company works particularly if the company has any unusual working practices or a different structure than the norm.  Again, this will help familiarize them with the company.

8. Tell your new employee about the company’s competitors and what is being done to make sure that the company is staying ahead of the competition.

9. Explain in detail your new employee’s responsibilities and describe their job functions. Don't leave it to the other employees to teach them the basics unless there is a trained member of staff whose job it is.

10. Let your new employee be aware of what you and the company expect from them.  This includes proper work ethics, productivity, teamwork, and appearance.

11. Explain the specific conditions and requirements of employment, including hours, pay, pay periods, holiday pay, sickness provisions, pension, medical benefits, lateness etc.

12. Be very clear about the safety rules, policies, procedures and regulations. Explain and show proper use of safety devices.

13.Introduce your new employee to his or her co workers along with a brief description of their jobs and responsibilities.

14. Outline opportunities for promotions and other opportunities.

15. To give them time to acclimatize give them a work buddy, a friendly experienced worker, to show them the job and work with them for the first week of two.

Covering all of these basics will help new employees settle in and they will be more efficient able to be contribute much more quickly compared to employees that are just left to their own devices.

For Your Small Business

An ideal lawyer will not just have a string of impressive credentials or gold lettering on his door. He or she will be caring, concerned, and devoted to their work. You need to think carefully before laying your trust in a lawyer after all in some cases your life, future, money or property will be in his hands.

Apart from doing extensive research to short list possible lawyers you must ensure that there is not conflict of interest, that you understand everything the retainer agreement states, and that you have checked the references and details regarding the practice.

You will know the lawyer you have chosen is the perfect one if:

1.    He makes an effort to spend time to understand your case himself. He will not assign a legal assistant to take facts of the case down.

2.    From experience and knowledge he will know what is relevant and what is not. He will set aside and ignore irrelevant facts, opinions, and personal emotions that cloud the case on hand.

3.    He will insist that the footwork for the case be done thoroughly. All facts must be checked for accuracy and solid arguments jotted down with backing of earlier rulings.

4.    He will not just focus on the problem at hand but examine the problem from all sides. This will create a complete picture highlighting all factors of relevance and the different ways one can approach the case.

5.    He will use his foresight and anticipate moves by the opposition or opinions of the jury or judge and plan way ahead. Like a master chess player he will plan the case not by the day but by many hearings ahead.

6.    He will not waste time beating around the bush or create verbose statements—many words strung together which look impressive but mean nothing. He will insist that the case and its arguments be clearly stated.

7.    He will be self-disciplined, thorough, and self confident. Courteous at all times he will respect you as well as all the staff who work for him.

8.    He is recommended by not just his friends and relatives but by other professionals of good standing and from his field.

9.    He will not just present to you his victories but be happy to tell you why and how he lost certain cases.

10.    He will lay the cards on the table and tell you clearly whether your case stands to win or loose. He will not claim that winning is guaranteed. He will be honest and upfront about his opinions and advice.

The bottom line is that the lawyer must be worthy of your trust. Use your inborn instincts and don’t go by the lawyer’s good looks or fancy car or office. After all it is competence in law and in court that is of essence to you.

Everyone worries about taxes and looks for ways and means of reducing the tax burden. When you have a small business of your own you must up date your knowledge of tax laws that pertain to “small businesses.” As a business owner you must understand clearly about accounting systems and tax planning. Sit down with your accountant and plan on ways of maintaining business expenses, filing receipts, planning on “tax saving” investments, and a strategy for running  the business in the most beneficial way.

Did you know that:

1.    According to law you can reduce your tax liability by hiring family members to carry out work in your business. Pay your children and spouse to perform assigned duties. This way you can shift from higher tax rates to lower ones.
 
2.    Consider hiring independent contractors instead of employees. You will save on payroll taxes. However ensure that you meet the IRS’s criteria.

3.    Think about “deferring income” postpone receiving money to January instead of December. This means that payments received will be up for “tax” calculations a year away.  However ask your accountant’s advice as the benefits are dependant on profit and losses for the year and your corporate legal structure.

4.    Take advantage of tax deductions allowed for charitable donations. Make donations in November or December instead of January so that you can include the donations for tax deductions in the current year.

5.    Maximize your expenditure on equipment and office supplies. Buy in advance for a quarter and use the tax deductions allowed in the current fiscal year.

6.    Include expenses of business related travel in the current year.

7.    Pay all bills due before the end of the year. Payment to cell services, rent, insurance, and utilities related to the business can be included for accounting and applicable tax waivers.

8.    Plan a retirement plan and make payments before the end of the year. This will reduce your income for the year and proportionately the tax due. Be sure to check on the limits. Plan a feasible and beneficial strategy with your accountant.

9.      Be sure to deduct from your taxable income money paid to licensing fees, businesses taxes, and annual memberships to businesses related organizations. Be sure to deduct interest paid on borrowings for running the business and related fees. Insurance premiums paid to insure the business office and machinery are eligible for tax deductions. Make a list of your memberships and check which ones are eligible for tax deductions.

10.        Check whether you have deducted management and administration expenses as well as money spent on maintenance and repairs of equipment.

Decide whether a cash accounting system or accrual one will benefit your business. The tax deductions are different depending on the system you use. When setting up your small business take the advice of a tax and accounting professional as to which accounting system would be most suitable.

10 Ways To Reduce Tax Burden For Your Small Business

An ideal lawyer will not just have a string of impressive credentials or gold lettering on his door. He or she will be caring, concerned, and devoted to their work. You need to think carefully before laying your trust in a lawyer after all in some cases your life, future, money or property will be in his hands.

Apart from doing extensive research to short list possible lawyers you must ensure that there is not conflict of interest, that you understand everything the retainer agreement states, and that you have checked the references and details regarding the practice.

You will know the lawyer you have chosen is the perfect one if:

1.    He makes an effort to spend time to understand your case himself. He will not assign a legal assistant to take facts of the case down.

2.    From experience and knowledge he will know what is relevant and what is not. He will set aside and ignore irrelevant facts, opinions, and personal emotions that cloud the case on hand.

3.    He will insist that the footwork for the case be done thoroughly. All facts must be checked for accuracy and solid arguments jotted down with backing of earlier rulings.

4.    He will not just focus on the problem at hand but examine the problem from all sides. This will create a complete picture highlighting all factors of relevance and the different ways one can approach the case.

5.    He will use his foresight and anticipate moves by the opposition or opinions of the jury or judge and plan way ahead. Like a master chess player he will plan the case not by the day but by many hearings ahead.

6.    He will not waste time beating around the bush or create verbose statements—many words strung together which look impressive but mean nothing. He will insist that the case and its arguments be clearly stated.

7.    He will be self-disciplined, thorough, and self confident. Courteous at all times he will respect you as well as all the staff who work for him.

8.    He is recommended by not just his friends and relatives but by other professionals of good standing and from his field.

9.    He will not just present to you his victories but be happy to tell you why and how he lost certain cases.

10.    He will lay the cards on the table and tell you clearly whether your case stands to win or loose. He will not claim that winning is guaranteed. He will be honest and upfront about his opinions and advice.

The bottom line is that the lawyer must be worthy of your trust. Use your inborn instincts and don’t go by the lawyer’s good looks or fancy car or office. After all it is competence in law and in court that is of essence to you.

Everyone worries about taxes and looks for ways and means of reducing the tax burden. When you have a small business of your own you must up date your knowledge of tax laws that pertain to “small businesses.” As a business owner you must understand clearly about accounting systems and tax planning. Sit down with your accountant and plan on ways of maintaining business expenses, filing receipts, planning on “tax saving” investments, and a strategy for running  the business in the most beneficial way.

Did you know that:

1.    According to law you can reduce your tax liability by hiring family members to carry out work in your business. Pay your children and spouse to perform assigned duties. This way you can shift from higher tax rates to lower ones.
 
2.    Consider hiring independent contractors instead of employees. You will save on payroll taxes. However ensure that you meet the IRS’s criteria.

3.    Think about “deferring income” postpone receiving money to January instead of December. This means that payments received will be up for “tax” calculations a year away.  However ask your accountant’s advice as the benefits are dependant on profit and losses for the year and your corporate legal structure.

4.    Take advantage of tax deductions allowed for charitable donations. Make donations in November or December instead of January so that you can include the donations for tax deductions in the current year.

5.    Maximize your expenditure on equipment and office supplies. Buy in advance for a quarter and use the tax deductions allowed in the current fiscal year.

6.    Include expenses of business related travel in the current year.

7.    Pay all bills due before the end of the year. Payment to cell services, rent, insurance, and utilities related to the business can be included for accounting and applicable tax waivers.

8.    Plan a retirement plan and make payments before the end of the year. This will reduce your income for the year and proportionately the tax due. Be sure to check on the limits. Plan a feasible and beneficial strategy with your accountant.

9.      Be sure to deduct from your taxable income money paid to licensing fees, businesses taxes, and annual memberships to businesses related organizations. Be sure to deduct interest paid on borrowings for running the business and related fees. Insurance premiums paid to insure the business office and machinery are eligible for tax deductions. Make a list of your memberships and check which ones are eligible for tax deductions.

10.        Check whether you have deducted management and administration expenses as well as money spent on maintenance and repairs of equipment.

Decide whether a cash accounting system or accrual one will benefit your business. The tax deductions are different depending on the system you use. When setting up your small business take the advice of a tax and accounting professional as to which accounting system would be most suitable.

8 Important Elements for Small Business Web Sites

Key visitors to your commercial pages include web robots that crawl the internet and catalog your content. Having proper HTML source code, plus the right combination of text and graphic presentation, is just one secret to success. Proper code may mean higher robot ratings, and the "look" is equally important. Once a new prospect finds your web site, you have 5 seconds to get them to stay.

As a small business web site owner, you may have asked "Why don't we get any hits?". Did you know web pages can load and appear correct with improper or deprecated HTML code? A browser may ignore your mistakes, and display what it thinks you meant, and it may look great. Web robots may not be as forgiving.

Following is a list of 8 basic elements for good search engine placement that need to be considered in your design and web site promotion. For details on code issues from the worldwide authority, visit the World Wide Web Consortium to view DOCTYPE and other quality standards.

1. DOCTYPE Statement
2. Page Title
3. Proper HTML Code
4. META Description
5. META Key Words
6. First Paragraph of the Home Page
7. An Extra Page of Just LINKS
8. Backlinks (Links to your pages)

These 8 key items are either missing or poorly designed in 85% of all web sites. Some search engines may only list the other 15% in their directories. In other words, as few as 15% of the 6 billion web pages online ever make it into some search engines. Even worse, there are mistakes that may result in your page being blacklisted, and the search engine web crawlers may never come back to see if it's corrected. This could explain why you "never get any hits".

Web sites can be simple and professional without using fancy software to create your pages. Veteran programmers hand code and many create the HTML in NotePad. Web authors who choose to use flash, frames, or the latest software may be losing a significant portion of new visitors (customers) because the visitor may lack the technology or newest version of browsers. If they are turned off and leave without giving your site a fair viewing, it could mean lost profits.

Most designers use prepackaged software to create web pages. If the software leaves out any of the key elements, the code is hidden, and you'll never know your site was not optimized for search engines. The designer may not know, or care, about these items as long as the page looks attractive. Note: Search engine algorithms vary by company, so some elements such as "an extra page of links" may not be as important today with some search robots.  Backlinks refer to marketing your site and getting other web sites to link to yours.

Finally, business visitors want information. They do not visit your home page to be entertained. Most have a need (problem) and want a fast answer (solution), so designs should be created to minimize the use of music or video unless that's your core business.  Anything that distracts from a positive first impression may violate my "5 Second Rule".

8 BIG Small Business Mistakes

Here`s an interesting notion:  Do you realize that there are mistakes you can make at various stages of your business` growth that can be slowly killing it for months or even years if you don`t watch for them? 

Well, these mistakes do exist and they are not just reserved for the rookie companies.  Many working businesses, including those you might think are successful because they`ve been around for 10+ years, are often still making them and are possibly losing a lot of money and/or wasting a lot of time in the process.

Although some of these big and sneaky mistakes seem aimed more at service type companies, they really do fit the bill for almost any type of industry.  I`ve done my best with the listings below to give examples to prove it.

Underestimating Project/Service Time- This is a big one and it pertains to service companies as well as companies that sell a product. This is a service company`s bread and butter. If you don`t estimate your time to perform each and every service in your repertoire, you will get burned and there is little you can do about it but bite the bullet and learn from it.  The best way to estimate time is to do it once yourself or watch your best employee do the task and then throw in a little fudge factor on top of it. For product companies, time becomes an issue with logistics so be aware!

Not Knowing YOUR Company Numbers/Incorrectly Setting Prices- Notice I emphasized the word your. It`s a common mistake to use a competitor`s as your pricing gauge without actually knowing why they use those numbers.  Think about the nightmare you will get yourself into if you take a competitor`s price, cut it by 10% and then start selling. What if the competition has a bad pricing structure and is barely making money or even losing money?!?!  What if your costs are more than theirs?!?!  You can use competitor as a starting point but you can`t base your whole strategy on it.

Different industries have their own variables as far as costs go and you need to be aware of them for your project or product pricing.  What you pay for a product you are going to sell is not the only cost to have in your head when you are pricing products.  How much your labor and materials cost for a service is only a piece of an hourly rate.  Employees cost more than just salary and not every employee is part of your labor cost. Every company has insurance to pay for. There are tons of overhead expenditures that need to be part of your price. Oh, by the way, the big one that many people forget about in their price is the quality factor. What you include as standard services or standard product features as well as job site etiquette or in store service or warranties all need to go into your pricing. I`ll get to more on why in the next segment.

Not Charging for All of Your Time & Costs- This seems like a stupid statement to some but I bet most business owners will admit that they have given away a little too much of the farm at times. Hey, there is nothing wrong with giving a little extra here and there to show you care. But either way, that`s not what I`m talking about here. What concerns me are those that put a lot of quality into their work or products or stores and do not cover the cost for it. As an example, say you run a service company and your competitors don`t do a certain standard service that you do. You can`t just undercut their price to steal a job; you need to have that cost covered in your rate and advertise the fact that it comes with the price upfront. Stores undermine themselves, for example, when they put more people on the floor for customer service but don`t charge for it. These things cost you money and when your competitors don`t do them it costs them less money.  Put out better service and then under price them, and your competition just has to wait a little bit for you to fall on your face so they can swoop back in.

As a business owner you need to believe that you are providing your clients worthwhile wares that deserve to be paid for. If you get the chance to explain why your prices are higher, then take that opportunity and do it.  If they don`t like the fact that you include things that others charge extra for later or that you treat them better, then they are most likely completely price shoppers.  You don`t want them as regular customers anyway.  Trust me.

Not Getting Paid Fast Enough- That`s right, the old cash flow issue.  As long as you are actually making enough money to pay the bills, this problem can be solved, prevented or at least made to be not as bad as it could be.  Here`s the deal:

First off all, bill customers very promptly. It is very common for a small business to not have the procedures or systems in place to get invoices generated and out the door in a timely fashion (see the next segment for more). Again, this would seem unlikely since that`s the reason why we are doing the work- to get paid. But it is very easy for the people responsible for getting this info to the billing people to be too busy to get it there or not have enough organization to give it to them the right way.

The second part to slowing down or stopping a regular cash flow crunch is to make the quickest payment deals possible with customers and the slowest possible with vendors and employees.  If there is any way not to pay employees any more than twice a month, you better do it.  Contractors always have an issue with this. If you must pay weekly, then tell them before they are hired that they will be getting the first week held back, essentially buying you a week. It will help, I promise.

Part three involves credit. If your company can get a credit card, then get it. This allows for certain important things to be bought (that you can afford) that might come up during a cash flow crunch.  Better yet, especially if you have no choice but to deal with 45+ day customer payments, do your best to get a company line of credit.  This is a must if you plan on selling to the government or doing commercial service work. These clients often have 60 to 90 day wait periods.

Failure to Have Solid Systems and Procedures in Place- Too many procedures (known as red tape) is the reason why many people start their own business in the first place. Unfortunately, having no procedures and systems in place at all is not an alternative. Depending on the type of industry, business owners must come to a happy medium or chaos and the unknown will ensue. Some basic examples where procedures or systems are needed include billing, collections, payroll, hr (interviewing, hiring, vacations, benefits, job responsibilities, etc.), manufacturing, operating equipment, maintaining equipment, inventory, sales calls/visits and logistics to name a few.

Even a one person show needs to have some admin procedures in place.  This will make it easier to hire temps and subcontractors and control what they are doing for you.  Without at least a watered down version of a system or procedure to do everyday work, you will be to blame for causing many major headaches as your company grows. I can`t emphasize how important this is for when you bring on new employees. I`m sure you heard this before, but I am also a big proponent of having an employee handbook even for one employee. It`s amazing the trouble people can cause business owners just because they allow you to pay them.

Spending Advertising Money Just to Say You Advertise-  I would almost rather see my clients not advertise then to spend without regard to tracking the results. There is no point in a marketing campaign if you do not put things in place that allow you to measure how well the plan is working.  The other wasteful part of marketing that many people make the mistake of doing, is not tracking their previously successful campaigns.  Why some people think that just because a $400 dollar a month ad worked once very well for one busy season, that it will automatically work every year after that is beyond me.

Spreading Yourself Too Thin- This is a classic mistake made by every entrepreneur. The key is to figure out when you are at that wearing too many hats point and start getting some help.  The solution here is to know your strengths and to be able see when you are not performing the duties that demand these skills. If you are the best sales person on the company, you can`t get caught up in day-to-day operations. If you do, sales will slip and eventually you won`t have any operations to worry about.  Think about this to help you figure out if you are spread too thin: Did you really go into business for yourself to work 80+ hours a week?

Not Getting Help Soon Enough- Set goals to know when to hire people to take over where you are light on knowledge. Not getting help or waiting too long can kill a company. Most people who start a business do it because they are good at the technical end or the sales end.  If you know the best way to make a widget, then your strength is in production and that is where your time should be spent. Hire an outside company or consultant to take care of the sales and marketing and then hire inside when you can afford someone full time.  Don`t be something to your company that you are not. It will only hold you back.

The three big issues people like to tackle themselves but usually are least knowledgeable about are legal issues, accounting/bookkeeping issues and daily operations issues.  The odds are that these three things are your weakest link so if you don`t have a partner that has the background for these subjects, then be prepared to get help as soon as possible.  It`s preferable that you do this before you start a business.

Although looking for these problems at any time is a good idea, the end of a year or season is an excellent business interval to make sure you are not making these errors.  Take the time, or make the time, to fix these problems. If you don`t know how to reverse the problems, then get some help.  If you really don`t have enough time to either figure out if you have these issues or know they are there and can`t break away long enough to do it right, then get some help.

7 Tips to Starting a Successful Small Business

Getting a small business off the ground is challenging to say the least. Here are some tips which will prepare the ground for running a successful small business. Have Goals This is where it all starts the foundation for success. Know exactly where you are heading. What will the business Сlook` like in the future? How will you know when your business is a success? When you wake up in the morning, do you know what actions you have to take to get you on the road to success? Take Action The difference between success and failure is down to the actions you take. The failures in life are the people who know what they have to do but never do it. The successful small business owners are people who take action on their ideas, ones who never say, I wish I had done Seek Feedback There is a saying that feedback is the breakfast of champions. During the early days of your business you must continually seek feedback about all aspects of your business. What works? What doesn`t work? What needs changing slightly? Speak to customers, suppliers, your bank manager, your accountant - anyone who can provide you with a fresh perspective. Find Out What Do You Don`t Know You can`t expect to know everything about running a business. Undertake your own skills analysis and find out your areas for development. Once you know your knowledge gaps seek out courses, books and advice, which will get you on track. Be Focused Let no one distract you from achievement of your goals. At the start of every day get yourself into the frame of mind that you will only do tasks which will get you closer to your goal nothing else matters. Take Risks! You will never achieve anything if you`re not prepared to jump off the cliff a few times! We`re not talking about risks which will put the business in jeopardy; just risks which are planned and thought out, yet at the same time test the edge! Think Positive Yes, the oldest clichщ in the book, but totally true. See the positive in everything. If something has not gone right train yourself to ask, What good has come out of this? Understand that in every problem there is potential for good.

7 Key Tactics For The Small Business Owner

For most folks, owning your own business is a dream come true.  The freedom of being your own boss and succeeding to the best of your ability are facts of life for the small business owner.  Sure, there's more stress than what you probably imagined when you were creating your grand plans, but with a little strategy and planning you can overcome any tough spot you get in.  There are 7 tactics developed by successful marketers that are sure to make your business as successful as theirs.

1. Create A One of a Kind Selling Point
If you want to stand out from the crowd, create a unique selling proposition that stresses the benefits the customers will receive from doing business with you.  Will they get faster service?  Go ahead and dramatize it, but keep the customer at the focus..."Get free overnight delivery!"  Hey, it tells the customer...you get quick service and a discount on shipping.   Two definite benefits in one statement.

Why should someone buy from you and not your competitor?  I hate to deal a blow to your ego, but it really has nothing to do with you , your product, or your service.  Yeah, its a little self-centered, but customers are attracted by offers that point out the things that benefit THEM.

Don't go out on a limb to create new products and services to get attention.  Just, add a special benefit to the ones you already have... maybe it's quicker service.  The most effective things to emphasize are benefits that your competition cannot or is not willing to give. 

2. Use Testimonials
Hey, we all know that business owners think their product or services are the best thing going, but it's what the current customers think about it that really matters to your prospective customers.  They're the ones who see things from their point of view... what they have to say about the business has an impact.

Testimonials play an important part in advertising - especially for small businesses.  Yeah, big businesses with well-known names don't have to worry about it, but small companies can use testimonials as marketing tools to build credibility.

Think about it...how else can we gain credibility than by creating a group of satisfied customers and shouting what they have to say?  Let's look at some ways we can make testimonials an effective part of our marketing campaigns.

3. Upsell
Upselling is one of the most successful marketing trends today.  Everywhere you go, someone is trying to get you to buy more.  From McDonalds with its supersize options to clothing stores that try to sell you shoes to match your outfit, everyone's jumping on the band wagon.  Why?  It works!

Your customers already know that you have great products and provide satisfactory service.  They trust you to come through for them.  Think about it...  it's much easier to make sales to someone you already have a relationship with.

Use every opportunity to increase your sales volume within the customer audience you already have.  Do you have a product that goes with the one they are purchasing?  Offer it to them at the register.  It's a proven and effective method for increasing sales.  You may be shocked at the additional sales you can generate from those who are already buying from you.

4.  Make Your Price Seem Smaller
Divide and conquer...  The old war tactic works in marketing too!  When the price seems too steep, break it down into "buyable" size bites.  An $120 item is only 12 low monthly payments of $10.  A $365 purchase would only cost $1 per day.  Now that sounds affordable! 

5.  Paint The Benefits Pretty
Customers buy because they want to enjoy the benefits of the purchase.  A lady might buy a dress because she wants to feel sexy, or a man will buy a book because he finds pleasure in reading.  Emotions are the key element that drives purchases.

Use word pictures to stir up the emotions that will instigate the sale.  Let them "feel" the benefits, and they'll be more apt to head for the cash register.  Put them where you want them.

6.  Create Attention Getting Headlines
Are you ready to capture your reader's attention with great copy?  The headline is the place to start.  How often do you scan the newspaper's headlines before you decide whether or not to read the article?  Yeah, that's where we lose or gain the reader's interest, so it's a pretty important part of the advertisement.

A good headline should telegraph its message in twelve words or less. Double check those headlines.  Do they make a promise of a positive benefit, or ask a provocative question? Don't settle for less than attention grabbing statements.

7.  Provide An Offer They Can't Resist
Is your deal too good to pass up?  If not, you need to improve it.  Hey, I'm not talking about cutting prices even more...you've still got to make a profit.  You can make the deal sweeter just by increasing the readers knowledge of the value of the product, or adding bonuses that are perceived as valuable, but cost you little. 

Motivate buyers with expirations.  Yeah, an open ended offer encourages procrastination...which leads ...yep, nowhere.  When the customer knows he has until Saturday to purchase an item he'll pay more for on Sunday, he'll make it a priority to head for your shop.

7 Key Skills to Becoming a Successful Wedding Planner

Becoming a wedding planner involves more than just planning a wedding. You must understand the business aspect of your service and learn to manage your time to earn the most profits. You will be the face of your business and your own public relations representative. Every day you will have the opportunity to build -- or damage -- your reputation as a businessperson.

As your business and your expertise grow, you will probably begin planning multiple weddings at once. It is essential that you strive to provide the best, personalized attention to each couple when planning their big day, without losing your sanity.

The 7 Key Skills

No one said that becoming a wedding planner was a job for the faint of heart. Not everyone can succeed as a wedding consultant. A good wedding planner is:

- Calm. You will be the bride’s (and the groom’s!) rock. From miscommunications with vendors to major meltdowns at the ceremony, you must be able to keep your cool in the wake of a calamity. A wedding planner should always have a Plan B ready for action in case of an emergency.

- Charming. You are the face of your business and your clients’ representative. Impeccable communication and social skills are imperative. Your reputation as a wedding consultant depends on your ability to network and maintain great working relationships with vendors and venues. Wedding planners must know how to communicate and work with all personality types. Not everyone you encounter will be pleasant and easy to please. You must be able to defuse any situation to get the results your client desires.

-  A Great Negotiator. The bride and groom will be counting on you to order flowers, hire the band and photographer, recommend a caterer, and help find venues for the ceremony and reception. You must be able to find the best service for the lowest price. This becomes easier as you create a reputation for yourself and develop professional relationships with vendors and venues. Your connections will get you better deals, which you can pass on to your customers.

- Good with Money. Starting a wedding planner business requires that you be able to manage your own expenses and stick to a budget, as well as be responsible for someone else’s money and budget. Previous experience with money management is vital -- even if your only experience consists of controlling the household finances.

- Organized. A wedding consultant might be responsible for almost every aspect of the big day: the venues, theme, flowers, food, refreshments, attire, photography, honeymoon, and other details of the wedding. Keeping track of all the nuances, contract dates, and deadlines requires an enormous amount of organization and attention to detail. Your calendar will be your new best friend.

- A Plethora of Knowledge. A good wedding planner has fashion sense, good taste in music, and an eye for color, flowers, and themes. You must be able to keep up with the latest bridal trends and fads, hot honeymoon destinations, and of course, traditional wedding etiquette. Many wedding consultants also learn about different religious ceremonies and traditions so that they can accommodate couples of any faith.

- Able to Maintain a Sense of Humor: From indecisive or emotional brides to controlling parents and absentee vendors, your work is cut out for you. When you are dealing in dreams, the ability to keep things in perspective is essential.

Beginning your own wedding planning business will be a learning experience. No one knows everything from day one, and as the old saying goes, practice makes perfect.

7 Critical Business Financing Mistakes

Avoiding the top 7 business financing mistakes is a key component in business survival.

If you start committing these business financing mistakes too often, you will greatly reduce any chance you have for longer term business success.

The key is to understand the causes and significance of each so that you're in a position to make better decisions.

>>> Business Financing Mistakes (1) - No Monthly Bookkeeping.

Regardless of the size of your business, inaccurate record keeping creates all sorts of issues relating to cash flow, planning, and business decision making.

While everything has a cost, bookkeeping services are dirt cheap compared to most other costs a business will incur.

And once a bookkeeping process gets established, the cost usually goes down or becomes more cost effective as there is no wasted effort in recording all the business activity.

By itself, this one mistake tends to lead to all the others in one way or another and should be avoided at all costs.

>>> Business Financing Mistakes (2) - No Projected Cash Flow.

No meaningful bookkeeping creates a lack of knowing where you've been. No projected cash flow creates a lack of knowing where you're going. 

Without keeping score, businesses tend to stray further and further away from their targets and wait for a crisis that forces a change in monthly spending habits.

Even if you have a projected cash flow, it needs to be realistic.

A certain level of conservatism needs to be present, or it will become meaningless in very short order.

>>> Business Financing Mistakes (3) - Inadequate Working Capital

No amount of record keeping will help you if you don't have enough working capital to properly operate the business.

That's why its important to accurately create a cash flow forecast before you even start up, acquire, or expand a business.

Too often the working capital component is completely ignored with the primary focus going towards capital asset investments.

When this happens, the cash flow crunch is usually felt quickly as there is insufficient funds to properly manage through the normal sales cycle.

>>> Business Financing Mistakes (4) - Poor Payment Management.

Unless you have meaningful working capital, forecasting, and bookkeeping in place, you're likely going to have cash management problems.

The result is the need to stretch out and defer payments that have come due.

This can be the very edge of the slippery slope.

I mean, if you don't find out what's causing the cash flow problem in the first place, stretching out payments may only help you dig a deeper hole.

The primary targets are government remittances, trade payables, and credit card payments.


>>> Business Financing Mistakes (5) - Poor Credit Management

There can be severe credit consequences to deferring payments for both short periods of time and indefinite periods of time.

First, late payments of credit cards are probably the most common ways in which both businesses and individuals destroy their credit. 

Second, NSF checks are also recorded through business credit reports and are another form of black mark.

Third, if you put off a payment too long, a creditor could file a judgement against you further damaging your credit.

Fourth, when you apply for future credit, being behind with government payments can result in an automatic turndown by many lenders.

It gets worse.

Each time you apply for credit, credit inquiries are listed on your credit report. 

This can cause two additional problems. 

First, multiple inquiries can reduce you overall credit rating or score. 

Second, lenders tend to be less willing to grant credit to a business that has a multitude of inquiries on its credit report.

If you do get into situations where you're short cash for a finite period of time, make sure you proactively discuss the situation with your creditors and negotiate repayment arrangements that you can both live with and that won't jeopardize your credit.

>>> Business Financing Mistakes (6) - No Recorded Profitability

For startups, the most important thing you can do from a financing point of view is get profitable as fast as possible.

Most lenders must see at least one year of profitable financial statements before they will consider lending funds based on the strength of the business.

Before short term profitability is demonstrated, business financing is based primary on personal credit and net worth.

For existing businesses, historical results need to show profitability to acquire additional capital.

The measurement of this ability to repay is based on the net income recorded for the business by a third party accredited accountant.

In many cases, businesses work with their accountants to reduce business tax as much as possible but also destroy or restrict their ability to borrow in the process when the business net income is insufficient to service any additional debt.

>>> Business Financing Mistakes (7) - No Financing Strategy

A proper financing strategy creates 1) the financing required to support the present and future cash flows of the business, 2) the debt repayment schedule that the cash flow can service, and 3) the contingency funding necessary to address unplanned or unique business needs.

This sounds good in principle, but does not tend to be well practiced.

Why?

Because financing is largely an unplanned and after the fact event.

It seems once everything else is figured out, then a business will try to locate financing.

There are many reasons for this including: entrepreneurs are more marketing oriented, people believe financing is easy to secure when they need it, the short term impact of putting off financial issues are not as immediate as other things, and so on.

Regardless of the reason, the lack of a workable financing strategy is indeed a mistake.

However, a meaningful financing strategy is not likely to exist if one or more of the other 6 mistakes are present.

This reinforces the point that all mistakes listed are intertwined and when more than one is made, the effect of the negative result can become compounded.

5 Simple Steps to Small Business Success on the Internet!

For years, the website design market used to fall into three separate entities for website design and development: (i) graphics and animation studios, specializing in custom graphic design and creative animations, (ii) website marketing/promotion firms, (iii) Web programming companies specializing in database-driven website development. Nowadays, however, you get to see a fusion of these three entities in several dynamic Web Development and Promotion companies operating from any part of the globe. These web design, development and web promotion firms are virtually allrounders that cater to a diverse range of clientele, include those coming up for creative web design, web databases CRM / ERP as well as for SEO (search engine optimization) needs.

Most small business firms all over the world heavily rely on the services of such web development firms as they usually cater to small business website design by providing web based marketing methods that small companies can afford due to small budgets. Depending on the effectiveness of such web-based marketing, clients often see incredible successful results from clicks to conversion. There are some case studies which show that utilizing their marketing equation; some sites have gone from 10 leads a month to 300 leads. However, to achieve this is easier said than done. Web marketing firms that create a full plan for their clients using both the strategic and tactical methods crafted by specialists/consultants in turn are able to give small or large businesses increased sales. After all, that is the reason one can zero down on in order to be in a business, right? To have more sales and offer value. Therefore, the objective behind any web development or website promotion project is to create a unique selling proposition through your website that can set you apart from your competition so your customers should only think of doing business with you, regardless of price.

Small business firms today look forward to the professional creative website design and strategic web development and web promotion companies for the simple reason that they want their site to have the look and usability of a Fortune 500 company site without having to spend huge bucks for it. Yes, it is definitely considered a plus if the website is designed as a tactical marketing tool that aims to engage and educate their clients in turn. And most of these businesses have a concern in their minds: can their web site provide a means to gather analytical data for them to offer better service for all?

Yes, definitely they can. However, for this, optimal, effective website design strategies need to be incorporated. In a word, small business clients should be enriched with at least some of these features in order to fetch more conversions:
* Cutting-edge small business website design, tailor-made to provide broad market exposure of the products and services to potential clients.
* Highly scalable digital website designs, aimed at boosting up the growth and realization of the full perspective of the small business houses.
* Small business website design strategies including full-featured e-commerce solutions, to help these businesses deploy cost-effective, powerful e-commerce stores.
* Customized search engine optimization services, based upon individual needs and goals.

However, there are umpteen so-called 'cheap, quick' solution-providers, and any small business firm must think twice before taking the plunge with them. Ideally, one should always trust a professional web development firm that gathers relevant information about their clients' business through hours of discussion, clear up ideas about the requirement, nature and goal of the clients' business. Based on these details, experienced, skilled web designers and developers carry out extensive research to find out the best small business website solution. On the other hand, creative, innovative content writers create specific and unique content for small business website requirements, thereby enhancing business prospects. Finally, website maintenance and search engine optimization techniques that comprise scientifically proven techniques available at a competitive price are sure to give your business a boost. Flash Presentation, Multimedia Presentation, Multi-lingual website development and E-Commerce integration solutions complement these customized website solutions for brightening the online and even the offline image of small business firms.

The Five Steps to Success:

To ensure success of your small business through a unique website presentation, it is important that you develop a five-step process for creating websites that meet your customer's goals. Whether it is a small business firm eager to generate leads, sell online, provide information about their services, connect their vendors to their company electronically, or start an entirely new kind of service, this five-step process not only takes them from concept to completion, but also is the trademark of any Internet development company. Consulting: Every website starts with an idea. Perhaps you've been thinking about developing a website, or redesigning your existing site. At the consulting stage, a professional website development firm would strive to clear all doubts about the clients' requirements. Consultation for this usually comes free in case of small to medium-sized businesses.

Website Design: After the initial consultation, the website development firm solidifies the clients' ideas by creating a blueprint for their site by employing something they call "Strategic Design".

Website Development: The website development project is then handled by a creator' hive, composed of specialists who handle their own respective pieces of the site development. Remember, for successful website development, it is necessary to be handled by a versatile team of expert graphic artists, content writers, programmers, database specialists and technical personnel. This ensures that a qualified professional handles each task of the given project.

Web Hosting: Since websites are an intricate interplay of graphics, text, programming and computer resources, building your site on a rock-solid web hosting foundation is critical to its marketing success.

Website Maintenance: Once the site is available to the public, it must be maintained with the help of ongoing updates and continued development to the site so that they don't give clients/visitors of the site a chance to complain about its quality and content.