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All about Business Idea, Tips and Resources

Wednesday, October 31, 2007

Position Position Position – The secret to success online.

Position Position Position – The secret to success online.
by: Quentin Brown

When you saw this heading you possibly thought of real estate or search engine placement.

While this is very applicable to these two systems I want to take you a little deeper into the concept of positioning yourself for success online.

Position is really a life skill with its own set of stratergies and skills.

Position: A place or location. A strategic area occupied by members of a force. An advantageous place or location. A point of view or attitude on a certain question. Sports. The area for which a particular player is responsible. The arrangement of the pieces or cards at any particular time in a game such as chess, checkers, or bridge.

Over the past seven years I have been involved in Internet Marketing. The first five as part time and the last two years full time. Many people asked how I made the graduation from part time to full time and the answer is always positioning.

The Concept of Positioning.

If you have played or watched sports at any time you will know that positioning is the key to winning or loosing. In football you need to be in position to accept the ball if you are going score.

The same applies to your life and business.

My basketball coach always told me that I needed to put all my effort to get into the right position and once I got there I could have a rest. I think you would know .... he lied. Once you get into position there is no rest as you then have to maintain that position.

Positioning is a skill that can be developed:

It is very important to do your homework because positioning is a skill that is developed by training and studying. It is not a haphazard occurance.

Last year I was looking at a new business I could start up online so I looked at what was growing and developing. In doing this I found that baby boomers are an economic force in the community and that they like gadgets, technology, investments because they are rapidly approaching retirement and health for a similar reason.

I also found that streaming audio was becoming something that people wanted to use on websites without the need for special servers, a lot of technical ability etc. In fact in my research it was the fastest growing multimedia tool people were looking for. So I went out and found a product I could develop to position myself in the middle of this growing market. Hence was born MP3 Sound Stream that allows anybody to add streaming audio to their website easily and simply.

Positioning for life.

I know that we are mainly talking about business in this article however if you do not also use positioning in your everyday life then it will not flow over into your business. Success is a mixture of both personal and business strategies and this is why so many people when they come into large sums of money loose it within five years and are back to where they started if not worse off.

They had not positioned themselves in life to handle the pressures and responsibility of there new found wealth. This is possibly why many people who start working for themselves also do not make much more than they did in their job. They never re-positioned themselves.

Summary

As I mentioned before positioning is a skill you can develop.

1. Find out what position you want or are capable of attaining.

One of my friends is a great sales person. He sells welders and turns over millions of dollars selling this equipment. A few years ago the company he worked for decided that it would be better for him to train a lot of other sales people so they could do even more.

It turned out that the company actually sold less with more sales people because the positioning of my friend to train people was not in his ability. The company actually went backwards so they repositioned him back into sales and re took the market lead again. His position was sales not training.

2. Take action and hold on.

In an instant society we are all looking for the quick fix however we all appreciate those who can maintain a solid position. I belong to an online MLM company and for 4 years nothing much happened however I knew that it was positioned for success. Today it is growing in leaps and bounds. Unfortunately some of my friends left a little too early and have missed out on the benefits of holding on. If you believe in what you are doing do not give up.

3. You don’t have to make millions to succeed online.

The concept of positioning is really all about strategies. Remember the old saying how do you eat an elephant. A bite at a time.

Positioning is the same. You do it a bit at a time. First you learn then you apply. Then you learn some more and then you apply what you have learnt. By being consistent you will see it start to pay off.

Finally let me tell you one last story. While I was writing this article my son was watching a documentary on the salmon in Canada that migrate up river to lay their eggs. Some of the scenes where they would jump up waterfalls bashing against the rocks to get to their final destination impressed me. The point is they would either make it or die trying.

Now there are people who are going to make out that becoming successful online is easy and both you and I know this is a lie. Just like the coach who told me I could rest once I got into position. The fact is it will take hard work and there will be casualties however if you are determined to succeed you will have a better chance of success.

Some people will just find this all too hard so my advice to you is take the easy road and don’t start.

About the author:
Quentin Brown has been helping people add audio to their web sites for the past two years and provides a wealth of knowledge and expertise for those who are technically challenged but want to make use of new technology without spending a fortune. http://www.myaudiosecrets.com

Saturday, October 27, 2007

Earn More Money in Your Online Business by Creating a Passive Income Generator

Earn More Money in Your Online Business by Creating a PIG
by: Glen Jansen

If you really want to earn more money with your at home business than you need to strongly consider adding a P.I.G. Obviously, I am not referring to the questionably adorable pot bellied pig that many fine people have adopted for a pet. The concept of adding a Passive Income Generator to your business should be a top priority if you want to earn long term income.

What exactly is a Passive Income Generator?

As the names suggests, a P.I.G. is a product, system or service that will pay you and your company long after it has been implemented. In fact, the ideal P.I.G. is one where you do the work once and it pays you over and over and over with little to no maintenance on your part.

An example of a P.I.G. could be a book, an audio CD, a patent, the licence to use your idea, a service that you contract out, and much more. Let's take a book as an example. You diligently research, compile, write, edit and proofread your book. Depending on who you are this may take you anywhere from 14 days to 14 years. Once the work has been done, a publisher will usually help with the marketing and promotion of the book. Once all that has happened, you the author are left with a passive income generator that will keep selling books while you sit in the sun enjoying a margarita.

Making money with a P.I.G. has become so much more important with the acceptance of internet commerce. Today, there are some amazingly quick, simple and inexpensive ways of creating a P.I.G. As an example, take a pay per click advertising campaign. This type of a business revolves around driving traffic from the search engines at a small cost to a sales site. Once at the site, automated software can take the browser by the hand and market and market the product until a sale is made. If the product is virtual like software or an e-book, no human ever needs to get involved in the transaction (other than the buyer).

Another example of an online P.I.G is an affiliate program. Pretend you sell a digital product like an ebook or audio book. Now imagine you get to work testing all kinds of sales literature until you create a very effective selling system on your website. All you need to do now to really expand your business is drive plenty of traffic through this system. By creating an affiliate program and attracting hungry affiliates, you stand to make a greater income while working less and less. The affiliates bring in the customers, your automatic sales website does all the work and once again you get to take off to a warm sunny destination.

So no matter what business you are in, think about how you can earn more money by adding a P.I.G. What parts of your business can you automate for complete hands free operation? Could you create an entire business where you create nothing but P.I.Gs? How much more money, free time and luxury would that add to your business and lifestyle?

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About the author:

Glen Jansen, helps home based business entrepreneurs find easy ways to make money online. Visit www.1st-in-earn-extra-income.com for more free information and money earning articles

Thursday, October 25, 2007

Applying for a Business Loan

Applying for a Business Loan
by: Matt Bacak


The process of applying for a business loan is a stringent one as compared to the standard procedures in obtaining a home mortgage loan or a personal loan. This is probably due to the fact that business loans contain a greater risk element as compared to other loans. Therefore, lenders need to exercise greater caution and emphasis when evaluating business loan applications in order to minimize their risk exposure.

With that, lenders evaluate their applicants based on the information that are provided as well as their judgment of the viability and profitability of the business being financed. Thus, business loan applicants will be required to submit a loan proposal along with their applications with the purpose of creating a positive impression upon the lender.

The first element of a loan proposal is an executive summary, providing short descriptions of the type of business and the industry, the purpose and usage of the loan, the proposed repayment conditions as well as the intended loan period. After that, the company information is provided, enriching the reader with the nature of the business, the location of the business, company history, the products or services provided, key differentiation factors of the company or the product, the general growth of the industry, competitive information, growth potential and target customers.

It would help if you could include your company marketing strategy, detailed product information, historical information as well as projected growth plans for the company. Apart from that, if you plan to incorporate product or service extensions in the future, you should provide these descriptions within your loan proposal. If possible, geographical expansion plans will help in the proposal.

The next area that needs to be showcased in the proposal would be the credentials and experience of each member of the management team. Impressive credentials will provide assurance to the lender that the company is managed by individuals who are responsible and capable. This is important as having the wrong people managing the company could be detrimental for the business.

In any loan application, historical records are essential to be used in evaluating the performance of a company. As new companies do not yet have these records, the financial records of the owners will be used as the basis of evaluation. Income tax returns forms are also required by lenders. All of these records provided should be the latest copies less than 90 days old, with the exception of the income tax returns form.

If the loan is applied for an existing company in active operations, company financial statements, including profit and loss accounts, balance sheets and the net worth reconciliation record should be included in the loan proposal. Again, all of this information should also be the latest and less than 90 days old. Additionally, a listing of accounts receivables and other short term and long term debt should be attached.

On the other hand, if the loan application is submitted for a new business, a pro-forma balance sheet and profit and loss account should be provided. Apart from that, a cash flow projection for the upcoming year is drafted to indicate the possibility of recovering the debt. This also means that projected revenue, profits, costs incurred and expenditure should be listed out with definite explanations provided as well as a list of assumptions.

If you possess assets that you wish to use as collateral for your loan, details for this should be provided to the lender as well. It is often common for lenders to request for dual sources of repayment in the event that one source is defaulted. This means that if the business owner defaults on his repayments, the collateral can be sold in order to recover debt.

Finally, other documents normally required for a loan application would be items like the article of incorporation, lease agreements, partnership agreements, license, references, etc. As the list of required documentation, information and attachments differs between lenders, it is best to check with the individual lender on their specific information and documents required to be attached with the loan proposal.


About the author:
Matt Bacak, The Powerful Promoter and Entrepreneur Magazine e-Biz radio show host, became a "##1 Best Selling Author" in just a few short hours. He has helped a number of clients target his specialty, opt-in email direct marketing systems. The Powerful Promoter is not only a sought-after internet marketer but has also marketed for some of the world's top experts whose reputations would shrivel if their followers ever found out someone else coached them on their online marketing strategies. For more information, visit Bacak's site at http://www.powerfulpromoter.com or sign up for his Powerful Promoting Tips at http://www.promotingtips.com

Saturday, October 6, 2007

7 Easy Ways to Make More Money in Network Marketing

7 Easy Ways to Make More Money in Network Marketing
by: Daegan Smith

Hit a snag lately? Haven’t been able to recruit any new agents? Is you network marketing job paying less and less because you can’t generate any sales? You don’t have to fret! With these easy network marketing tips, you can revitalize your sales pitch and methods in no time at all!

1. Contacts
Remember that your contacts are your most valuable asset. Who are your contacts? The people you see on the streets? Your next door neighbor?

When considering whom to invite, try those closest to you first. This is because they are most likely to be more open to your suggestions and will be willing to do you a few favors (such as buying that detergent you are hawking). The great thing about this is that they will really mind plunking a few bucks to help jumpstart your business. And when they see that you are doing well, they could very well join you as well.

When you run through the whole list of you clan, what will that leave you with? You will of course have to go to those people that next in line with regards to closeness or affinity to you. And what if that gives out too?

You can always adopt a friendlier stance and chat up that neighbor you never talked to. You could meet new people on the bus and on the train. But remember, you have to like them as people first. Don’t go about and look at them like walking piggy banks. People will know if they are being looked upon as ‘things.’ Always regard them highly and get to know them. Build their trust. The truth is, the friendships you build will be the true reward, and the sales will be just a side dish.

Always ask for referrals from your contacts. This is another sure way to increase your prospects.

2. Believe
If you yourself do not believe in your product, chances are you won’t be able to sell it to others. Remember, nothing promotes a product better that a satisfied customer. Let others see you using the product. Say glowing things about it. And most of all, let all that you say be true. If your customer finds out you weren’t being honest, you could ruin your business relationship.

When you choose a network business, take into consideration their product. See if you can believe in it and pitch for it effectively.

3. Recruit the right people
Don’t just recruit anybody. Make sure the people you recruit share an unbridled passion, and tireless work ethic with like you. If you don’t chances are, they will drop out of the networking business and you will not be able to build your downline.

4. Don’t force the issue
When trying to close a sale, don’t force the issue. If you do, people will get suspicious as to why you are doing so. Are selling them counterfeit items? Are you only interested in your profit and not in your customer’s satisfaction? Always keep this in mind: the customer always comes first. Please them, and the profits and windfall from these relationships will follow.

5. Look the part
When recruiting others, you can’t say, “You will get rich with network marketing,” and look shabby all the while. They’d say, “I thought you got rich from this thing, why do you look like you didn’t.” People will want to see a visible sign of success. You are their only reference point. If you are not convincing as a successful networking agent,

6. Hang in there
Perseverance is a virtue. If money grew on trees, you’d still have to wait for them to grow. Remember the old adage: try and try, until you succeed. Remember that your goal is not to just to get money, but to build upon a good income generating business.

7. Evolve
Don’t be satisfied thinking that your techniques at recruiting will forever be effective. Although there are basic principles that should be followed, you can forever improve on your techniques. Today’s society is constantly evolving. If you want to catch up with them, you have to evolve in your marketing strategies as well.

Try ‘Em
Try these tips. They are sure to give you more confidence in your network marketing strategy!

About the author:
Daegan Smith is the leader of the fastest growing team of successful home business enterpernuers on the net. Find out how we're creating financial freedom all across the globe and how to get in on the action FREE =>http://www.comlev.com Team Blog: http://www.turnkeyinternetbusiness.blogspot.