Think Business

Checklist for starting a business

2009-04-21T12:30:00.000+08:00

Checklist for starting a business
by: Matt Bacak

Use this comprehensive checklist to plan each step of your new business and transform your dream of entrepreneurship into reality. These steps may not necessarily be completed in the order listed; however, you can use them as a guideline for completing all of the necessary business startup tasks.
- Determine what kind of business you want to start.
- Learn about the industry for your business.
- Analyze the market for your business.
- Study your competition.
- Educate yourself on running a business.
- Join trade associations.
- Name your business.
- Perform a trademark search.
- Register a domain name.
- Design a website.
- Obtain a logo.
- Determine business structure (sole proprietor, partnership, or corporation).
- Evaluate your personal budget.
- Write a business plan.
- Write a marketing plan.
- Locate financing.
- Create a list of start-up supplies with budget.
- Set up a system for accounting and payroll.
- Apply for business license, fed tax ID, fictitious business name.
- Select a location and set up shop.
- Order signage.
- Obtain business tools (computer, printer, fax, postage, office supplies, and fixtures).
- Order business stationery (business cards, letterhead, brochures).
- Obtain inventory.
- Create an operations and employee manual.
- Hire employees.
- Set a launch date.
- Plan a grand opening event.
- Send announcements to everyone you know.
- Send press releases.
- Turn on the OPEN sign!
- Revisit your business plan and update often.
- Evaluate your marketing strategy often.
- Prepare a realistic business plan.
Think of this as your business road map. Define exactly where you want to get to with your business and then you can effectively map out your path towards achieving your goals!
By creating a detailed business plan you should cover all options and eventualities and have a clear future vision that will guide you through the rest of the start-up processes.
- Your business plan should encompass the financial considerations of starting your small or home based business:-
Do you have the capital required?
Do you need to raise additional funds?
Who are you going to approach for finance?
Who do you trust for advice?
And don't forget to open a business bank account…
- Consider the legal implications of becoming a business owner and proprietor.
Are you better off as a sole trader, a limited company or are you considering a partnership?
Make sure you consider all the angles and protect yourself and your assets personally from the outset.
Anything you bring to the business has to be itemized, valued…even if you're a sole trader.
And make sure you are professionally covered with the appropriate business indemnity insurances.
- Get your family and friends behind you from the get-go.
Make sure your family and friends are fully understanding and supportive of your ideas to venture into small business start-up.
Do they understand the level of commitment you will have to show for on-going and long term success?
Their belief in you and continued support of you will work wonders towards your on-going success, so don't forget to look out for them too.
- Protect your family, protect your business.
If, God forbid, something were to happen to your health, how would your business survive, how would your family cope?
Consider insurances - from health, critical illness and income protection insurance to life insurance - and consider your pension and long term financial security.
- Face those 'taxing' questions from the start.
Your small or home based business has to consider its taxation situation.
Do you need to register your business for sales tax purposes; have you informed your tax office of your business's inauguration?
Do you have a good tax professional lined up to guide and assist you?
The bottom line when it comes to taxation is that from the outset you need to make sure your papers and books are in order, this will save you time, money and heart ache in the long run.
- Prepare realistic and achievable goals and targets for your first year.
Do not expect to conquer the world with your first year's business returns.
Starting a business is a life changing undertaking and one you must be patient with. The rewards are there, but make sure you set yourself achievable targets - when you reach them they will give you the confidence and satisfaction to set new goals and to continue building your business' success.

About the author:
Matt Bacak became "##1 Best Selling Author" in just a few short hours.
Recent Entrepreneur Magazine’s e-Biz radio show host is
turning Authors, Speakers, and Experts into Overnight Success Stories.
Discover The Secrets http://promotingtips.com

Getting a Mortgage Refinance the Commercial Area

2008-05-21T10:46:00.000+08:00

Getting a Mortgage Refinance the Commercial Area

Bill had a hamburger joint that has been passed on for three generations. Business was good for the past years but the construction of other restaurants in the area began to eat part of the market.

The only way to compete will be to renovate and give the customers a fresh look of the place. A friend who has an architect was called in to check how much was needed. The estimate showed that Bill would need $150,000.

Bill was shocked at first but realized this was the reality. So, there were two options. The first will be to fold or give the other competitors a good fight. Bill who served in the military at one point in life decided to face the odds.

There was just one problem. Bill didn’t have the money. The interest rates in the bank were quite high so the only place to get the cash will have to be done by refinancing the restaurant.

The hamburger joint purchased some new equipment 5 years ago. Given the value of the property, Bill could get $250,000 which was more than enough to pay for the machines and the renovation.

This is when Bill called in some old friends who referred a mortgage company that has been doing this for more than 10 years to help out in the business. A meeting was set up and the documents needed were shown to the specialist.

After a few days, the loan was approved and cash was soon on the way. The construction will take 2 months so Bill and the architect decided to have this done in phases rather done not have any money come in.

Signages were placed around the restaurant and people still frequented the place. A lot of the regulars were very excited with the new look that a mock up model and drawings were placed on display.

Time flew very quickly and 2 months later, the renovation was complete. There was a huge party to open the event and people soon packed the place. The renovation paid off that even if the contract states that payment will be done in 2 years, Bill was able to give everything back in 8 months.

The success story of Bill is just one of many who want to get mortgage refinancing for a commercial lot. Some people let others do the developing after leasing the property for a number of years while there are others who have something already on it and need a few touches to make it more profitable.

The interest rates of getting a mortgage can be fixed or adjusted. The person shouldn’t be surprised if the company offers a combination of both when applying for a loan.

There are many ways to get a mortgage loan. The person can go straight to a broker by checking the local directory or surfing in the internet. There are also some brokers who can help in the process that will require the individual a certain fee for the services rendered.

Some people consider getting a mortgage to refinance the commercial area to be a gamble. Perhaps it is but if the property has potential, this should be maximized so that the person can be like Bill who is successful in running a hamburger joint against other players.

5 Pillars To A Successful Home Business

2008-03-15T07:44:00.000+08:00

5 Pillars To A Successful Home Business.
by: Joel Suarez

- Hustle:

Generally, people who make it big have one thing in common—they are dissatisfied with the status quo. They will not take what is “common” or “expected” and let that define their lives—they move past it and excel. You must work hard and hustle.

- Character:

Someone coined the phrase, “character is what you do in the dark.” In other words, when no one is looking, will you behave differently than if someone was looking? If not, then you have character. If you are attacked, be tough—not hard. Don’t be a pushover, but be compassionate, gentle, and flexible—especially on procedure (not principle).

- Risk Taking:

This isn’t gambling, it’s a willingness to be bold, hearty, and to push forward. People who refuse to take risks are definitely going to lose. If you refuse a new promotion because you’re not confident of your skills, you will likely be passed over when a different chance arrives.

Don’t be afraid of rejection, just take it as part of life and you’ll find there’s nothing to be afraid of—especially in the word “no.” “No” is just another opportunity to find a way around an obstacle and to use creative problem-solving skills.

- Time Management:

We all know that one minute has 60 seconds and that one hour has 60 minutes. One day has 24 hours, and one year has 365 days. But one year also has 525,600 minutes. We don’t think about a year in such small increments, but maybe we should.

We waste minutes as if they’ll always be around, and the fact is that time wasted is time we can never get back. We might miss a deal or promotion of a lifetime by wasting just a few minutes.

Proper time management is essential as you climb to success. Continue to break goals down in to manageable chunks—do that with relation to your day and the time you’ve been given. You’ll accomplish far more this way and you won’t regret using your time wisely.

- Master Non-Verbal Communication:

It is said that our body language and facial expressions do much more communicating than our words will ever do. When the words that you speak don’t match the expressions on your face or the stance of your body, you confuse the listener and muddle your message.

Be aware that when you try to “multi-task,” you often end up short-changing something, and the last thing you want is to short-change people. Don’t try to do too much at once—your willingness to do this tells people they aren’t important, even if you’re expressing your appreciation of their work and effort.

Be aware of what message your body is sending off!

About the Author: Joel Suarez is an established online marketer and publisher. His expertise field is in direct marketing and multi-level marketing. He specializes in developing new tips, tricks, ideas, and tools to help new and pro's alike Internet marketers to start, develop, and establish their businesses online. - http://www.homebiz4u2profit.com
Source: www.isnare.com

How to start a business

2008-02-14T23:53:00.001+08:00

Rod Drury: How to start a business
5:00AM Saturday January 05, 2008
By Rod Drury

Successful IT businessman Rod Drury says a business plan is vital.

People pitch business ideas at me all the time.

Unfortunately, almost all are fundamentally flawed, and almost all in obvious ways.
With a few exceptions, there are natural laws of technology businesses that you should take note of, so you don't find yourself repeating the mistakes made in previous start up businesses.

There are a number of business ideas that are just too hard and not worth putting your energy into.

Anything that involves text messaging or mobile data is unlikely to be a success.
That's because mobile carriers just don't leave enough on the table to make a buck from.

It's hard to think of anyone who has built a successful business based on text messaging.

Taking on Trade Me will not work.

They already have the customers and therefore they own the market, and only one player wins.

Anything aimed at taking bricks and mortar retailers online will not work. History tells us that.

Anything to do with document or content management will not work because that has been done 10,000 times before.

A start up involving retail point of sale will not work because the cost of sales and support will be too high.

An export-focused business where the founders are not willing to travel abroad will not work because you need to be in the market to understand it.

Any business where the founder is not happy to step aside and letanother person be the CEO will not work.

Any business that only wants to give up 10 per cent for $1 million in its first investment round will not get funded and will not work.

Any business depending on low-cost Google AdWords will not work, because the price of those AdWords becomes valuable, and then it blows your business model.

Any software business where the software development is outsourced to a consulting company will not work because you need to be nimble to close the feedback loop between your customers and your product strategy. Any business without a business plan will not work.

This might sound like a grim reality, but almost all of the hundred or so businesses I've looked at over the past couple of years are flawed because of one or more of the reasons above.

You only need to look at the very few angel or venture capital deals done in New Zealand during 2007 to see that very few ideas are actually valid business ideas.
As a first step before presenting your idea, you need to be able to write a high-level summary of what the business is and why it will be successful, in not more than three pages.

Then you need to test that idea. Try out your idea on friends first.
Make sure you check with someone who will tell you honestly, and not just what you want to hear.

Make sure you check with someone with industry expertise.
A "fast fail", where you quickly discover that your idea is flawed, will save you time and money. My ideas usually come from problems that I have experienced personally.

In areas where I have significant base knowledge, I can intuitively know where there is an opportunity.

Once you've tested your big idea, you need to back yourself and go. One of the first activities is building a team.

Next up, we'll look at setting up a business with multiple shareholders.
* Rod Drury is CEO and founder ofleading NZX-listed accounting software provider Xero (www.xero.com)

Health Insurance For Small Businesses

2008-01-20T19:04:00.000+08:00

Health insurance for small businesses
Simple steps to secure coverage for your workers.
By Ging V. Valles

Medical insurance came about to fill people’s need for quality health care that should not be compromised by their limited budget. It is now more accessible to everyone, regardless of income, through the HMO or health maintenance organization — a kind of managed plan where you receive care from the HMO’s doctors at its hospitals or clinics.

The HMO provides a list of doctors and "requires you to select a primary care physician" for the specialized care you need," says German Zapanta, general manager of Fortune Medicare, Inc. Entrepreneurs and rank-and-file employees benefit from almost the same coverage as those provided executives, he says.

The HMO is especially helpful to entrepreneurs. "If your people are covered, you increase their work productivity," says Rey Samson, school owner and incoming president of the Marikina Private Schools Association. "HMO doesn’t give any burden at all to the entrepreneur and his people since payments are collected through salary deductions." It also encourages people to get a health plan to help the government expand its resources for medical care.

HMOs like Fortune Medicare, Medicard, and PhilamCare provide holders with both in-patient and out-patient services without their having to pay each time. The standard coverage for in-patient care includes room accommodation, medicines, diagnostic procedures, and operating and doctor’s fees. Out-patient services include preventive health care, dental care, annual physical exams and clinic consultations.
Some HMOs limit their coverage. "Others add [extras] to be more competitive in the market," says Zapanta. For example, Fortune Medicare’s comprehensive package includes add-ons such as laboratory, x-ray and other diagnostic tests, dressings and sutures — even hospital income. Its out-patient care includes consultations at any HMO-owned clinic for eye, ear, nose and throat ailments; treatment of cuts, sprains and other minor injuries; X-rays, ECGs and other diagnostic tests; minor surgeries; and treatment on the recommendation of the HMO director or his designate.
"For emergency treatment in a non-accredited hospital, we reimburse as much as 80 percent of what it would have cost if treatment had been done in an accredited hospital," says Zapanta.

Choosing the right plan

Some entrepreneurs say you should not jump into bed with the first HMO offering the lowest price on your medical plan. "In choosing the right health plan, you should select the best package that suits your needs and the price affordable to you. Ask about the premiums, terms of payment, schedule of benefits, list of accredited hospitals and doctors," says entrepreneur and Medicard holder Marian Aquinos.

Here are some tips to getting the best coverage:

• Compare costs by asking doctors, hospitals, friends and relatives. The annual premium for HMO membership is P3,000 for those in the 13-to-30 age bracket and P13, 000 to P30, 000 for infants and clients in their late 50s. HMOs offer monthly, quarterly, semi-annual and annual payment terms. Once you’ve picked out a plan, compare its price with the other plans offering the same services. Expect higher prices for the young and elderly.

• Know the different services that each plan covers and decide what kind of insurance you need. Most plans will cover only services considered as "medically necessary." "Try to know if the HMOs can adjust or customize their packages according to your company’s needs," says Zapanta.

• Verify the HMO’s service record by studying its portfolio. Does it have any plans that will work for you?

• Look at the HMO’s financial status and management team. You can inquire about the standing of various HMOs by surfing their websites or studying their profiles, which are available from the Association of HMOs of the Philippines Inc. Not all HMOs are members of the group, but the top 15 are, says Zapanta. Being backed by a large company gives you more confidence.

• Consider the HMO’s reputation. Some HMOs are frequently suspended by hospitals for delayed or non-payment of hospital bills. "Worse, there are companies on the verge of closing but are still trying to solicit coverage," says Zapanta.

A Simple Guide for Developing a Marketing Plan

2007-12-23T22:55:00.000+08:00

A Simple Guide for Developing a Marketing Plan
By Abe Cherian
Copyright ? 2005

Getting your initial qualified prospects to make a sale to
is often called front end marketing. When we run marketing
with the expectation of immediate responses by the consumer
to whatever message you put out there, whether it's Yellow
Pages, newspaper ads or direct mail, this is called direct
response marketing.

Before seeking out prospects, having a marketing plan is
essential to any business. I'm going to present a lot of
research and my objective is to include the need to
quantify all the results from all your marketing efforts.
And to look at all the strategies for conducting direct
marketing campaigns and testing variables to determine the
effectiveness of each of the marketing strategies within
your business.

Most people want to be successful, but few plan to be. Very
few people take the time to plan anything. Most people take
more time to plan their vacations than they do to plan
their lives. The most important thing you can do right now
for your business is sit down and develop a marketing plan.
Most business owners fail or they just move along because
they don't have a plan or goal for their business,

I want you to decide right now to make a detailed plan of
what you're going to do and how you're going to do it. It's
the old saying, "If you fail to plan, you plan to fail"

You can say, I want to make more money or I want to be
rich. That's nice, but too vague. You want 20,000 sales per
month, That's not a plan nor will it even come close to
become a plan.

A plan is a detailed specific road of how you're going to
reach the targets you set out and the date that you want to
reach them by. An example is that you can set sales goals.
You can sell so many of your products for a week or so many
of your services for a week. You should offset these in net
profit instead of gross profit because that is the money
you're making.

I know one lady who grosses $9,000,000 a year. Very
impressive, She takes home roughly $100,000 of that. That's
not very impressive, It maybe nice to have $100,000 a year,
but it's not impressive when you're grossing $9,000,000.
That won't really tell you how well you're doing,

You want to put down the numbers in net profit If you know
your net per sale, and most business owners do not even
know this, but if you do you're way ahead of the game. You
can work backwards on how many sales you need, Then all
you have to do is increase your number of sales per week or
net profit per sale.

Develop a strategy for making those numbers, decide how
you're going to advertise. How am I going to get referrals?
How am I going to get people to buy more often? How am I
going to get people to spend more? This is the beginning of
your marketing plan.

Go out and pick five of the best ideas or most comfortable
ideas and implement them. Start using them to help you make
your goal.

Choose another five, another five, and another five. You
want to set your goals on a weekly basis. As you achieve
them raise the level the next week. This way you will
continue to improve and so will your income,

Don't panic if you have a bad week. Just get right back on
track and try to achieve the next week's goals. You want to
get to know the numbers for your business. It is a business
of numbers. You need to know the net profit per sale, net
profit per service call, and how much it costs to get your
new clients. These are critical in knowing where you are
and if you're achieving your goals.

Take some time each week to plan. It's critical. Here is a
simple guide for you to use.

¡è Write down your goal for your total net income you want
next week.

¡è Write down the number of new clients that it will take to
get that.

¡è Write down your goal for number of repeat clients that
you want to achieve.

¡è Write down how many service calls you're going to make if
you're a service business.

¡è Write down how many products you have to sell.

¡è Write down the net income for each item and your average
income per client.

You'll come up with the total income you're trying to
achieve. Each week put down the actual numbers you want to
achieve and you'll find out if you're reaching them or not.
Then you'll know if you need to increase marketing and in
what areas. Creating a simple marketing plan like this
enables you to keep track with all the numbers and helps
you to achieve your marketing goals.

About the author:
Abe Cherian is the founder of Multiple Stream Media,
a company that helps online businesses find new
leads and more customers without spending a fortune.
http://www.multiplestreammktg.com

eCommerce Web Site Building: Where Do I Start?

2007-12-11T21:40:00.000+08:00

eCommerce Web Site Building: Where Do I Start?
by: Jacob RIchards

Building a web site isn't something that is really cut and dry. There's a huge variety of products and services that can either help you get your web site where you want it or simply confuse you. It's also important that you make the right choices upfront so that you don't end up having to restructure your whole web site because of some problem in your design layout. The level of time investment neccessary for mastery in a lot of these software packages can range from little to a VERY significant amount. Because of this I feel it's important to be lead in the "right" direction to make sure you don't spend time in the wrong areas, or learning some software that might not be all that useful for you later on (*coughs* Frontpage *coughs*).

Where you should start greatly depends on what you plan on attempting to do, and how deep you're going to dive in. For a moderately professional, clean looking web site without a lot of automation or intensive animated graphics you can probably get by with some basic knowledge of html, ability with a good WYSIWYG editor, and an image editting program. On the other hand, if you're someone that's looking to build something that will really wow your audience then you might consider spending some major time and developing some animation skills with a program like Macromedia Flash. I personally always spring for what I believe will bring me the greatest amount of profit with a minimal amount of effort, and because of this I usually end up spending all of my time diving in deeper with ONLY my WYSIWYG HTML editor, and my image editor.

## What is a "WYSIWYG" editor? ##
A WYSIWYG (What You See Is What You Get) HTML editor is what allows you to get by with minimal knowledge of HTML. Yes, that means you don't have to know EVERYTHING about HTML to have a decent looking website. When you use a WYSIWYG editor it interprets what you're doing (inserting an image for example) as being a certain series of HTML tags with attributes, and does it for you... Thus, what you see on your screen is what you get. Instead of seeing a bunch of HTML code in text format, you'll mostly see what will actually show up in your browser once your web site is up WHILE you're making it. I highly recommend using the latest version of dreamweaver -- it is well-known as one of the best HTML editors by general consensus. Dreamweaver's interface is very friendly, has a built in FTP client, and is specifically built to be flexible enough to suit both the coder and the everyday amatuer webmaster.

## Image editing? What do I need that for? ##
Okay, let's be realistic here: If you're going to make a professional *appearing* web site it's important that you can make some basic, decent looking graphics. There's a lot of graphics problems that can truly get the job done, but as far as power and flexibility goes I recommend Adobe Photoshop. Adobe Photoshop definitely takes some time getting used to, but in the end it's VERY rewarding. I've ended up using my knowledge of Photoshop to make not only graphics for multiple web sites, but also touched up portraits, made business cards, flyers, and other online advertisments such as banners. Infact, I've used it for everything except animation... But it also comes with Adobe Imageready which is very good with animation. This software is amazing, and if you're going to learn ANY image editing software I recommend you start with Photoshop because of it's widerange of overall... usefulness!

## Let's get me some sales! ##
Kick off your new web site you've gotten up from your knowledge of webmastering and image editing with a few new sales... Sounds like a plan? Well a great way to do that quickly is with pay-per-click advertising. BUT WAIT! Doesn't that cost money? Well... Yes. But with the tools brought to us by some of the biggest pay-per-click advertisers out there we should be able to make a good evaluation of how much profit we're going to make without much investment upfront.

The big question behind pay-per-click advertising is whether or not it's worth the cash when you can simply get traffic from regular search engine ranking (otherwise known as organic traffic). Afterall, there are plenty of companies out there that promise to help get you all the traffic you need through optimizing your web site for organic ranking. The answer to this question is quite simple: profit is profit. Through conversion tracking tools such as those offered by Yahoo! Search Marketing and Google Adwords anyone can calculate exactly what their profit is after cost of PPC advertising is taken out. In my opinion, Google Adwords has the most user-friendly interface among the PPC advertisers. Google Adword's interface makes it very easy to see which keywords are pulling you in the most sales, and which ones aren't even worth your advertising money.

Let us not forget, however, that in order to make those conversions we're going to be needing a shopping cart! There's a lot of diverse software packages out there you can use, but I've been using Mal's E-Commerce Free shopping cart for a number of years with great success. The cart's server is hosted on their machines so that means you not only get away with not having to pay for the software itself, but you get out of having to buy an SSL security ticket too! Nothing's a better bargain than free, eh?

## Getting those sales leads you've been building up to BUY! ##
Once you've scored a few sales it would probably be a good idea to start using some kind of lead management services. I highly recommend the use of autoresponders for this purpose. Autoresponders are, essentially, a newsletter sign-up that allows you to strategically determine what you want to send each lead after a certain alotted amount of time. For example, let's say someone visits your web site and you offer them a free newsletter. If you were selling an ebook on some very complicated topic, you might consider sending them only information on the most basic concepts at first to get them interested. Slowly but surely, you can turn those visitors that might have left your web site and never have returned into some serious revenue!

As far as autoresponders go, I highly recommend the use of Aweber. Their customer service is superb (seriously, these guys really know their stuff!) and can be contacted at any point during the business day via online chat or phone. They also offer tons of free information, and guides on making the most of their services. Check out their month long free trial at http://www.getaweber.com/ .

About the author:
Jacob Richards, the author of this article, currently runs a website on the topic of building an ecommerce web site.

7 Keys to Internet Business Success

2007-11-25T07:47:00.000+08:00

7 Keys to Internet Business Success
by: Bina Omar

Starting an internet business can be as simple as opening a Yahoo Store. And as complicated as building your own dynamic e-commerce web site. But no matter how you go about it, you need 7 key ingredients to ensure the success of your internet business.

1. Demand

You can have the most awesome product and the most hi-tech web site, but if you can’t generate demand for your product, your business is doomed from the start. There are many ways to generate demand in the online world. You could advertise in ezines, start an affiliate program, encourage word of mouth, referrals, do joint ventures. Remember, without demand, there will be no sales. And without sales, where does that leave you?

2. Order

When you start getting visitors to your web site, it’s now just a matter of turning them into your customers. Okay, maybe it’s not as easy as it sounds. This is why, once your visitor has decided to become a customer, you have to make sure that it is easy for them to do so. Make sure that your ordering process is easy and straightforward. The less clicks to secure an order, the better.

3. Payment

This is one process of your internet business that you’d definitely not want to get wrong - how money is actually transferred from your customer to you. The most popular means of doing this online is through credit card transactions. Credit cards makes full use of a person’s ‘buy now think later’ attitude. So, your sales would be a lot higher if you accepted credit cards than if you didn’t. This doesn’t mean you shouldn’t have alternative methods. The more payment methods you offer, the easier your customer will find it to pay for your product.

4. Fulfillment

After payment has been made, don’t make the mistake of thinking that the coast is clear. There’s still the matter of delivering your products. If you sell digital products, it is now normal standard to have it delivered instantly. People now expect this, so make sure you set this up. If you sell physical products that needs physical delivery, make sure that you communicate with your customer every step of the way. Ensure them that their goods are on the way. If possible, send them a means to track the movement of their package. Your customers should never feel insecure.

5. Service and Support

Once the sale has been made, it doesn’t stop there. You have to provide excellent customer support. Your internet business customer support will determine, to some extent, whether your customer will request a refund and whether or not they will make repeat purchases. Support abilities of an internet business is getting more and more efficient. So don’t get caught behind. The least you should do is provide timely e-mail support. If you have a busier site, then consider other support methods - online helpdesk, FAQs, live chats, ticket system, knowledge base ….

6. Security

The Internet community is getting more aware of what to look out for in order to protect themselves from many of the net’s less desirable activities. One of which is e-commerce frauds. It is, therefore, up to you to prove to your visitors that they can trust you. Things like using secured server to process payments, can go a long way. Purchase a digital certificate, if you can. Add a physical mail address or a phone number where they can contact you. Anything at all, to give your visitors some peace of mind.

7. Community

Once you’ve received more than just a handful of sales, you should think about starting a community. Making your customers a part of a community, gives them a sense of belonging. Have your community be a part of your product development. Listen to their suggestions. Not only will you get product ideas for your internet business, your sales ratio will increase with every new product release and you will have a loyal customer base.

There you go. Work on these seven keys and you’ll be way ahead of most internet businesses out there on the net today.

About the author:
Bina runs the WebBriefcase at http://WebBriefcase.com.au,a site filled with web building tips, tools and tutorials for home business owners. Sign up now for your free video enhanced course on "How to Make Your Own Web Site in 7 Easy Steps" mailto:subscribe@webbriefcase.com.au

Position Position Position – The secret to success online.

2007-10-31T14:53:00.000+08:00

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

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

2007-10-27T06:09:00.000+08:00

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

Applying for a Business Loan

2007-10-25T23:07:00.000+08:00

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

7 Easy Ways to Make More Money in Network Marketing

2007-10-06T10:22:00.000+08:00

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.

20 Small Business Tips, For Success

2007-09-30T02:13:00.000+08:00

20 Small Business Tips, For Success
by: Dave Ryan

These are just some general tips to keep in mind as you design/operate your small business:

1. Take the time out to explore and understand whether or not you are compatible with running our own business. Some people are just plain happier and better off financially on the other end of the paycheck.

2.Get your personal finances in order. Before you jump into the entrepreneurship world, get your own money matters squared away.

3. Pick your niche. Many small business owners succeed in businesses that are hardly unique or innovative. Take stock of your skills, interests, and employment history to select the business that is best suited for you.

4. Benefit from your business plan. The exercise of creating a business plan is what pays the dividends. Answer the tough questions now before the meter starts running.

5. Do not think you need bankers and investors at the outset of your business. The vast majority of small businesses are bootstrapped.

6. Acquire the proper background. In the early months and years of your business, you will have to acquire many skills. Gain the background you need to oversee all facets of your business well, but determine what tasks you should outsource or hire employees.

7. Remember that nothing happens until a sale is made – How many good products go nowhere because they do not reach the shelves? Sales drive your business. You will need a good marketing plan to sell your product or service.

8. You have to see a customer to know one. N o matter how busy you are, spend at least 25% of your time with customers. You cannot make the proper business decision without understanding their viewpoint.

9. Solve your customers’ problems. The best way to satisfy your customers is not by selling them products but by giving solutions to their problems. There is a big difference.

10.Quality takes minutes to lose but years to regain. Quality is not a destination, it is a never ending journey. After you have strayed from quality’s path, your journey maybe sidetracked forever.

11. Put profitability first, rewards seconds. In small businesses, profitability must come first. Find out how to measure your cash flow and understand key financial ratios.

12. Hire supporters. If you intend to create a growing business, your number one duty is to assemble a great team of employees.

13. Do not do it alone. Find such help from small business peers, a mentor, even trade associations. They can help take some of the trial and error of beginning your business.
14. Vendors are partners too! Treat your vendors like customers and watch your partnership grow.

15. Make use of benefits. Understand how to provide insurance and other benefits for your employees and cut your tax bill at the same time.

16. Ignore regulatory issues at your peril. Federal, state, and local governments require licenses, registrations, and permits. Obey them or face losing your business.

17. Know the tax laws. Invest in understanding tax issues that affect your small business.

18. It’s the people! Whatever happens to a small business happens at the hands of the people who work for it. The evolution of the business is a result of their efforts.

19. Fast, good, cheap. Pick any two. Serious trouble awaits those who attempt to be all three in the market place. Stick with what you do best.

20. Develop a passion for learning. As your business grows, you need to change and grow along with it. One common denominator can be found in all successful business owners and that is a passion for learning.

About the author:
For more great business, marketing and mind power ideas to develope your business visit the Higher-Profits Blog at http://www.higher-profits.com

Affiliate Marketing

2007-09-30T01:59:00.000+08:00

Affiliate Marketing: Why Is It One Of The Most Cost-Effective Ways To Advertise Your Business
by: David Riewe

Ever heard of affiliate programs? These are forms of Internet advertising that rewards the affiliates for driving traffic to the advertiser or for other transactions. The advertiser pays the affiliate to place a link on their website, and the affiliate sends traffic to the advertiser in return. Simply put, it's about paying commissions to people who help you make sales. It's that easy. NOT.

Affiliate marketing has its ups and downs. It could be draining if you are not armed with updated information and the technical how-tos. But this article's sole objective is to reach out to you and not to badmouth affiliate marketing.

Here are the following reasons on why web marketers go gaga over affiliate marketing as a form of Internet advertisement.

1. Low cost

Many are scared to go on a home based business because of the capital required. In affiliate marketing, you don't have to spend much to start raking in moolah.

2. Inventories not included

Product management fuss could be very stressing. An inventory is not asked to be maintained. The merchant does the maintenance required.

3. Unlimited income through leverage

When you have a paid job, your monthly income mainly relies on whether you go to work or not. With affiliate marketing, your affiliates could all just lead traffic to your site without having to lift a finger after providing them your ad copy and links. Though not every web marketer earns limitless, it still is a fact that all the necessary matters for the advertiser or Internet marketer are all there to be successful.

4. Go worldwide

With affiliate marketing, you are dealing with a global market place. All you have to do is choose a niche product and prepare all the necessary tools for your affiliates to lead traffic from just about anywhere to your website.

5. Low risk

The very main reason for Internet marketer's enthusiasm with affiliate marketing is its having a low risk factor. Especially for those with low budget set aside for advertising, affiliate marketing is just the way to do it.

6. No closing time

With affiliate marketing, your business works every single second of the day while targeting a worldwide market! What could be better than that?

But all of these will be put to waste if you don't have the right niche product and all the other important tools to make it big in affiliate marketing, i.e., well-SEO-ed website. So better work on this first before ever considering those benefits.

About the author:
Little Known Minnesota Man Making Six Figures Per Year Online, From the Comfort of Home, Reveals His Top Internet Money-Makers to YOU!" Click here: http://www.push-button-online-income.com/pbi

Think Business

Think Business

2007-09-24T18:58:00.001+08:00

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