Winning Customers Over the Phone

Do you sometimes wonder where your customers have gone? In a study by the International Customer Research Institute, individuals gave the following reasons for becoming “non-repeat” customers:

* 1 percent died (makes you wonder how they responded)

* 3 percent moved

* 5 percent said friendships

* 9 percent said competition

* 14 percent were dissatisfied with the product

* 68 percent cited an attitude of indifference by employees

How many times do you think that employee attitude is communicated by phone? Very often the telephone is the first and only contact that people have with your organization. Make sure that this experience is the best you and your employees have to offer so that first-time callers become repeat customers.

Smile when you answer the phone. Even if your hair is on fire or the last caller chewed you out, pause for a moment to put a smile on your face and in your voice. Believe it or not, people can hear you smiling through the phone.

Answer the phone on the first ring, certainly no later than the third ring. If people have to wait through rings four and five, they begin to think that you have closed for the day, gone out of business or just don’t care. We live in a world that expects instant gratification. Be sure you meet your customers’ expectations.

Ask permission before you put someone on hold. You may have multiple lines ringing and a line of people standing at your desk, but wait to hear the caller’s response. It is that person’s choice to hold or not. Try not to turn this move into a power play. When you come back on the line, thank the person for holding. If you have to ask the caller to continue to hold, offer to take a number and return the call.

Transferring calls should be done with care. Before you connect the caller to someone else’s extension, make sure that person is in and able to help. There is nothing more frustrating than being transferred over and over again and having to retell the same story to a multitude of different people before finding the right one.

Before you send the call to co-worker, give the caller that person’s name and number in case there is a disconnect. Better yet, tell the caller who you are and how to reach you if there is a problem. You will have an extremely satisfied customer.

Always make an offer of help. It may not be your department, your issue or your job, but if it is the customer’s problem, you need to show concern. Never tell the caller ” ‘I don’t know’” or “I can’t help you.” The best response to a problem is a genuine “Let me see what I can do or who I can find to help you.”

You will win customers and influence people every time when you use good phone skills.

(c) 2005-06, Lydia Ramsey. All rights reserved. Reprint rights granted so long as article and by-line are published intact and with all links made live.

How Do I Make Money Working From Home? Let Me Count the Ways . . . . .

Here in the USA, at least, it seems to be increasingly popular to find some way to earn a living from the comfort of your own home. People – especially moms – are looking for ways to stay home with their kids and yet contribute to the family income. They prowl the internet at night or on their lunch breaks, looking for just the right opportunity that fits their interests and family. Let me suggest their search may be too narrow.

More often than not, they are looking at and for some variation of internet marketing. But they don?t have a clue how to market, the search engines offer literally millions of choices, and scams and rip-off artists are more common than sand fleas on the beach. There are a lot of other ways to earn an income from home. Lets explore a few, and combine them with some internet activity. The synergy just might surprise you!

The first and most obvious choice would be to open your home to day-care. After all, you are there with your own kids, so you might as well add a few, right? (Stop that laughing!) Depending on your constitution, family size and make-up, home and yard size, etc., this could be just the thing for you. To run it like a business involves a whole lot more than feeding the kids and keeping them from playing in the street, but it works for many and it may work for you. If you have older kids, involve them in the care of the younger ones as well as some of the business aspects. Think of it as on-the-job training in home and business management. It is invaluable training they cannot get elsewhere.

If you like to cook, you might look into something involving cooking or baking. There are candy-making businesses, catering businesses, cake decorating businesses, etc. Some people supply home-baked goodies to local convenience stores, truck stops, sandwich shops and places like that. Of course they have to go through the permit process, but that is normal for starting up a business. Some people create and bake treats for dogs and cats and sell them to pet stores. These are also businesses that can involve your older children. They can help with preparation and clean-up. Teenagers can also learn bookkeeping and once they get their drivers license can make deliveries if necessary.

There are countless products that can be marketed through home parties. It?s not just for Avon and Tupperware anymore. Home furnishings and decorations, candles, rubber stamps, jewelry, children?s toys and clothing, and who knows what I haven?t of are all options. This is popular with moms who are home all day with kids and feel the need to get out and have a conversation with another adult. They schedule evening parties in other people?s homes. Their husbands are home with the kids, and they are able to socialize and make money at the same time. For many moms this is just ideal.

Some people are natural-born ?cleanies.? They have figured out that other people do not like to clean houses and offices and are not much good at it either. So they come to the rescue – for a price. Cleaning services do involve leaving your home, which is what some people don?t want to do, but if you have your own business, you are the boss and to some extent can set your own hours. One parent can work day hours and one parent can work night hours. If you have teenagers, again you can involve them in the business, both in labor and paperwork.

Some people are naturally organized and can sell their skill to those who are ?challenged.? You would again have to leave your home, but you can set appointments for while your kids are in school and not make appointments on days when they have after-school activities that you quit work so you could attend. This too can be a great business for the right person to run from their home.

You could also turn your home into your business by converting part of it to a bed-and-breakfast. This would require permits and a check with zoning laws and all that. To succeed, you would also have to have the gift of hospitality as well as many of the skills necessary for the other businesses mentioned above. But if you like meeting new people and would enjoy opening up your home – for a price – then maybe you should look into it.

There are many, many other options including telecommuting, letter writing, teaching sign language to moms and babies, proof-reading, website and graphics design, greeting card design and verse writing, and on and on and on!

Now what about that internet part? Many businesses – even small local ones – find they do better if they have a website. Websites can be put up and hosted for surprisingly little money. Some internet companies offer products that can be sold to customers you acquired through some of the above-mentioned businesses. For instance, if you use a particular ?green? cleaning product, maybe your daycare parents or the people who work in the offices you clean would be interested. Market your business on your website and market your website to your customers. Print and offer coupons. Put your website on the traffic exchanges. There are even ones where you can earn while you surf! Talk about easy money – and you are earning exposure for your site, too!

Top 10 Lessons for Small Business Success – As learned from my Twin 2 year olds

Small business success is very similar to learning to walk, talk and spell. The basics have to be understood before moving on to the next step. I am blessed to have twin 2 year old girls in my life and am amazed constantly how much I learn from them on a daily basis. As I watch them run around and explore, I find myself realizing just how much my observations apply to being successful and happy in life and in business.

So take heart in the following tips ? they may come from little people but they have the power of giants. To your happiness and your success !

1. No matter how small you are you can change lots of lives – your goal for starting your business should be to change lives in one way or another. Remember this in everything you do – how can I change my customers lives ?

2. Climb that wall – no matter how big the wall is – persistence pays off in the end. Never give up on your dreams and keep on trying.

3. Times when you appear small and frail are when you can surprise everyone with your hidden strengths. Everyone in business pays attention to what the big boys are doing and how they became successful. What they miss though is the small businesses that quietly make substantial profits every year. These companies go about their business quietly and draw attention from the customers – not the competition.

4. Act like a silly goof whenever and wherever you want ? people will never forget you – and that is what every business owner should dream of – sticking in everyone?s mind.

5. Remember to share ? People can get very protective of what they learn and how they achieve success. When you have something of value that would benefit others ? share ! IT will come back to you one hundred fold . You do have your rights also – protect what is not to be shared and make sure others know it is yours and yours only.

6. Run naked every once in a while. Well ok, you don?t have to be naked but run ? have fun, be free and try to be a kid again. Having kids gives you that chance again and it is incredible to relive the fun that you used to have ? when you weren?t so serious about life and business.

7. Lay back on the grass and watch the clouds go by whenever you have a chance. Reflection and relaxation can be one of the most powerful combinations that you can ask for in your personal and business success ? use it !

8. Put on a fancy hat – dress up for the day. Nothing can make you feel like a new person more than a complete change in clothing. Wear something you usually would not wear ? or something you have always wanted to wear but were afraid to. In business this one little point can make you stand out from all of the rest. Wear a tacky tie, or a purple shirt, or a new hat every day ? your customers will never forget you.

9. Silence is not always a good thing. Usually it means something big is brewing and trouble is near. If you find too many of your competitors are quiet or your clients are quieter than usual ? figure out why ! Something serious could be happening out there and you better find out what it is.

10. Find some sand and let your toes dig in. Sand has an amazing soothing quality to it. If you do not have sand near your house or business ? go buy a bag of sand at your local garden center and put it in a small box you can dip your feet in. Try this when you are working on a tough problem ? new ideas will pop into your head in no time.

Top Ten Ways to Design Each Part of your Book to Sell More

Whether you are an ebook author/publisher or a print book author/publisher, you can get your unique, helpful information out to your audience. You’ll help make other people’s lives better, become a household name, gain clients, sell more books and make much more money when you design each part of your book to attract more readers.

Format and design your book’s insides, front and back matter so it will sell the minute you publish.

Book Designing Check and Correct List For your Book’s Front and Back Matter:

1. Put book cover in 4-color design as first page. Rather than do it yourself, hire a competent cover designer. For business books, check out MaxCovers.com. He designed four for me.

2. Create a title page after the cover with your publishing information, and copyright.

3. Make an extra testimonial page to insert right before your table of contents. Testimonials from the rich and famous, media, man/woman on the street, and happy readers convince others by their endorsement to make your book a top seller.

4. Include a list of your other books right before the table of contents to widen sales.

5. Create a table of contents (your chapter titles) and place below it your complimentary free bonus report title(s) and where to find them.

6. Put your one page sparkling “mini sales letter” introduction right after the table of contents.

7. Redesign of all fonts so your book will be easy to read. Easy to read books are the number one way to sell more books. Ordinary fonts are Arial and other sans serif fonts for the headings and Times Roman and other serif fonts for the copy.

8. Put in proper headings at the top and bottom of each page in the headers and footers. Put the title and page number at the top, and your name and Web site URL at the bottom.

9. Put the whole book in Portable Document Format PDF as well as Microsoft Word. You can edit the Word copy, and allow your customers to download the PDF file unless your offer your book via toll-free number. While PDF is not foolproof safe, it’s a common form and if passed on doesn’t allow they person to edit it. With your name and Web site there people know who the expert is.

10. List your products and prices at the end of the book along with a page on your coaching, speaking, or other services. You may want to add benefit-driven annotated table of contents for your other books at the end too.

When you include all these parts in your book, your increased new sales will surprise you.

Judy Cullins ©2006 All Rights Reserved.

It Takes Two – How to Cultivate Profitable Alliances

?Cross promoting with other businesses can give you a significant advantage over the competition, with many benefits and cost savings.? -Heidi Richards-

More and more competition in the marketplace is making it necessary for companies to find creative ways to connect with customers and prospects, to enhance brand identity and attract top-notch employees. In order to enhance competitiveness in today?s marketplace, more and more companies are forming strategic alliances. Strategic alliances can maximize your position in the marketplace. When you learn how to leverage partnerships you increase your market share. It is also a very smart way to grow a small business. Cross promoting with other businesses can give you a significant advantage over the competition with many benefits and cost savings.

A strategic alliance is based on an arrangement between two companies to combine resource that will help both gain a greater share of the market. They are often formed when one business alone is unable to fill the gap in serving the needs of the marketplace. Forming strategic alliances can save time and boost productivity. It enables companies to be more efficient and concentrate on the core strengths in developing their products and services. These alliances can be formal (partnership agreement is put in writing) or informal (a handshake is all that is necessary to ?seal the deal?).

There are several ways you can collaborate with another business or individual to increase revenue, traffic, and even expertise to your business which ultimately will increase the value to the end-user (customer).

Find the Right Partners

Collaborate with a well-known company – Most small businesses benefit from partnerships that add value, prestige and greater credibility to their own endeavors. Associating with a well-known business can give your company instant credibility and exposure. It?s not always about the bottom line.

Collaborate with Your Best Customers ? Look at the company or companies who do the most business with yours. Work with them to solidify the relationship by offering them more than just good products and service. Make it nearly impossible for them to consider going anywhere else. Continually asking them why they do business with you and why they stay are the best ways to keep them. Collaborate with the Nonprofit Community ? Joining forces with nonprofits can increase your circle of influence and your visibility in the community.

Collaborate with a Former Employer ? You offer a product or service the former employer needs and provide it to them. You become a subcontractor or vendor to them. One of my dear friends worked for a fast-food company as their corporate trainer. When she decided to go into business for herself, they hired her to continue to provide training to their employees for several years. As her first major contract, the collaboration they created started her company on the road to success, and she still travels and does work for them.

Collaborate with a Competitor ? Believe it or not, competitors can be very good partners. For instance, they may offer a service or product you don?t or don?t wish to and vice-versa. They may also have the ability to handle a larger ?job? than your company. Joining forces with another business on a project makes you look good to the customer. You become the hero. In 1999, I had the opportunity to provide all the decorations for a HUGE Floral Fair in Miami, Florida. I knew my small company alone could not handle all the business. So I called several other florists in the community whom I admired and who did similar work. I subcontracted them to do portions of the project and get a piece of the action. Because these were floral importers we were serving, the other florists had the opportunity to network with and find new suppliers of product. It was easy to convince them to participate. It was such a success, that it has been an ongoing project for several of the shops over the years.

Think about the many businesses that are natural partners. In the real estate field, realtors partner with one another when selling a house. Florists partner with caterers, photographers and others in the event industry. Automobile insurance companies often partner with auto repair companies to insure their customers get the best service at a fair price.

In an issue of Entrepreneur Magazine, I read about a coffee company in New Jersey who became the ultimate collaborator. The coffeehouse carries works from a local art gallery, has a reciprocal agreement with a local community theatre to offer significant discounts to their patrons, cross promotes with a local music store, book store, cigar shop, as well as many local nonprofits.

My flower shop has partnered with masseuses, welcome-to-the-neighborhood companies, travel agents, professional organizers, beauty salons, and realtors, and several nonprofits, to name a few. We have collaborated on networking events such as business after hours and open houses. We have promoted one another through door hanger campaigns. We have given each other our coupons to distribute to other companies. We have carried one another?s business cards and brochures to distribute to our respective clients and customers. We have given away one another?s products to our customers. We offer hyperlinks on one another?s websites to further promote each other. The possibilities are endless. Look for opportunities in your community that would be mutually beneficial to your partnership.

The real key to success in cross-promotion, is to collaborate with non-competing businesses that are going after the same client or customer base. Choose businesses and people you trust. The promotion should make sense to both partners. It should be a true win-win for everyone involved. Plan the promotion and evaluate the Alliance on a regular basis. Look for ways to expand your reach without increasing your overhead or debt.

Excerpted from The PMS Principles – Powerful Marketing Strategies to Grow Your Business by Heidi Richards

Tapping Into the Power of a Mastermind Group

You’ve probably heard the old expression, the whole is greater than the sum of its parts. This concept proves itself over and over with the exponential power of the Mastermind Group. The idea of a mastermind collective was formally coined in Napoleon Hill’s classic book, “Think and Grow Rich.” Hill wrote, “No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind.”

Today, more and more people are harnessing the power of the Mastermind Group to help them think bigger. This concept can be applied to business, social causes, politics, relationships, health, and artistic endeavors. Combining the abilities of multiple individuals to solve problems, brainstorm ideas, seek solutions, and develop strategies creates greater results than going it alone as a “lone ranger.”

The size of a Mastermind can range from two to eight members. Any more than that can get chaotic. The group can meet in person if they are in a similar geographic location. Or if the Masterminders live in different states or countries, they can also meet via a bridge line. The members of the group make a commitment to show up regularly and to contribute to each others’ success.

The types of groups can be as varied as your imagination. However, compatibility is vital to the success of the group. Members should have similar interests and/or should be at a similar “level.” For example, participants can be in a similar area of business like realtors or life coaches. Or the group’s members can have a common goal like writing a book, building an Internet subscriber list, or losing 30 pounds.

In this way, stronger bonds are formed and the group creates win-win situations for all of its members. When selecting members, only invite participants who have a strong desire to succeed and a demonstrated ability to contribute. Your group will be the most successful when you have members who are passionate about Masterminding.

If you want to start your own Mastermind Group, here are some guidelines:

1) Define the purpose to the group: What will your objectives be when you meet? What do you want to accomplish together? For instance a Mastermind of college students could set a goal of academic excellence.

2) Decide on the groups’ ground rules: What is acceptable? And how will the ground rules be enforced? One of the groups was extremely committed to attendance and promptness – we decided that if a person was late showing up for a call, he or she paid $1 per minute to your charity of choice. Miss the whole meeting and it was $60.

3) Determine the structure of the groups’ time together: You can have an agenda and a facilitator. Or, you can rotate leadership. You can have freely-flowing conversation. You can also decide to have closely monitored time frames for each person to speak.

4) Plan the groups’ logistics: Where, how often, and how long will you meet? When will your group start and when will it be completed? For instance, one of my Mastermind groups met every week for one hour for a period of four months.

5) State wants and needs: Mastermind groups can only reach their full potential if each member is willing to think big and ask powerful questions. At your meetings, each Mastermind group member can tell the group exactly what he or she wants – the member does not have to know how it will be accomplished. Case in point, a group member might start off – “This is Jane. I am facing a problem in my business [describe] and I need the group’s ideas on how to solve it.” Another group member might say, “This is Tyler. I want the group to help me develop a strategy to make me an additional $100,000 in my consulting business this year.”

6) Commit to contributing: Your Mastermind group’s success depends on you. Make a commitment to listen carefully, be present, show up on time, and fully support your fellow Masterminders. In this way, you exponentially increase the groups’ synergy and other members will rise to your level of contribution.

Being a part of a successful Mastermind group is an enriching experience that will accelerate you professionally and personally in ways you can’t imagine. You don’t have to be a lone ranger and you don’t have to figure things out on your own. So, don’t wait to start or join one!

Do You Know The ?A Bit More? Principles Of Exceptional Customer Service? Part 1 of 3

It is 2006, an exciting time to be alive. Our economy in Alberta, Canada is booming. There are oodles of employment opportunities. Businesses are sprouting up on every corner.

Where are you involved in this rodeo of life?

Whoa your horses, Bucko! Whether you are in business, starting a business, or working for a business, some basic principles are necessary to allow you to shine, in all areas of your life.

?Customer service is king. You gotta provide exceptional customer service,? the business guru?s say. In my mind, that?s not enough.

When you have a similar product or service to that of your competitors, it is how you treat people that makes the difference. It requires exceptional customer service, plus ?A Bit More.?

Firstly, who is the customer?

A customer is anyone with whom you have a business relationship. It can be a paying customer, staff, supplier, partner, spouse, child, and neighbour. And it is critical that we treat EVERY customer with the same exceptional customer service, plus ?A Bit More.?

What is ?A Bit More??

My friend, Brent, is a Master Electrician. He provides exceptional service to his customers, plus ?A Bit More.?

Brent has the skills to take a snarly, tangly mass of wires, sort them out, and hook them together so that lights that are supposed to light ? light, and switches that are supposed to switch ? switch, and receptacles that are supposed to receptacle ? do that. His work is a form of art. Great thought and creativity goes into the placement and synchronization of every electrical component.

?So what?, you say. ?There are hundreds of good electricians out there. What is so special about this guy?

What does he do that is ?A Bit More???

Brent has customers who will not hire anyone else. Why?

One of his customers said, ?Other electricians will do the work for me, and some will do it cheaper. But you treat me with dignity. You ask questions. You listen to me. You explain what you need to do. And then you do what you said you would.?

These points are fundamental human relations principles for business, marriages, families, individuals, and communities ? for all customers.

Hold the reins folks. Let?s have a look at each of these key points before you gallop off into the sunset.

Because these points are so critical, I can?t jam it all into one article. Therefore, I encourage you to stay in the saddle for a three-part series to gain all of the ?A Bit More? principles of exceptional customer service.

This time, let?s have a look at Dignity.

Dignity is defined as: high regard, worthiness, goodness.

To treat a person with dignity means you honour them as a good, intelligent, human being ? worthy of your respect, attention, and time.

From my perspective, everyone deserves this.

I remember some of my previous business relations. There were times when I treated most of my business customers with dignity. In fact, I treated them as if they were royalty. When they said ?jump,? I said, ?how high?? as my feet left the ground. It was great for business ? some business.

But, what about my other customers, including my family and friends? Were they not deserving of the same dignity?

?Um, well, ah shucks. I guess I was a bit neglectful, uncooperative, rude, and unsociable. But I had to do that work for my big customers. That?s business. That?s what paid the bills.?

Horse manure and hogwash!

The principle of dignity works like this: If you do NOT treat your customers with dignity, they will go elsewhere to find it, and they won?t come back. A lack of dignity can lead to lost customers, workplace harassment, divorce, teenage pregnancies, drug and alcohol abuse, and more. Ouch! This reaches further than you may recognize.

Here are ?A Bit More? dignity hints:

? Consider everyone a ?special customer.? They are all equally important.

? Put on your best demeanor every morning and wear it in every interaction. There are no holidays. If you choose to feel angry, sad, or any negative emotions, that?s OK. But get away from others until you choose to treat yourself with dignity again.

? Be respectful and treat yourself, and others, as worthy human beings, regardless of differences of title, job, gender, education, etc.

? Be kind and demonstrate sincere interest and concern for others.

? Be helpful. A cooperative attitude is always beneficial.

When I apply these hints, I experience greater happiness and satisfaction. I experience a natural law of success, ?what you give; you get.? I find that as I treat ALL of my customers with dignity, they treat me in a similar fashion. And I know that it will work the same for you.

I challenge you to consciously apply these ?A Bit More? dignity hints. Stick with them. Make them habitual.

If you use them already, become more aware of them.

When it comes to human relations, there?s always room for improvement.

What do you have to gain?

Win/win success and greater happiness for all.

Keep practicing, friends. Don?t mosey too far from the arena, ?cause there are more ?A Bit More? principles to come.

Copyright© 2006

Outstanding Managers Know How To Delight Their Staff ? Do You?

The success of an organisation does not solely depend on management but on the work of its staff as well. An employee that enjoys his or her position and feels rewarded by their efforts will ultimately be the most successful in their careers and the most beneficial to the company.

There is nothing like being around happy, satisfied staff that bring their optimism and productivity to the organisation. These are the employees who are the most attentive to the needs of the customer and strive to go that extra mile to be the most helpful.

A positive attitude is contagious and can change the attitude of every staff member around. However, just as a positive mindset is easily spread, so is a negative one. If a member of the team is unhappy, watch out! His or her negative attitude can become infectious – contaminating fellow co-workers and customers alike.

Pessimistic employees can breed an atmosphere of low morale which equals decreased productivity, employee turnover, and unproductive time spent gossiping and complaining among co-workers.

In order to combat negativity in the workplace, it is essential that employees experience ongoing motivation from management to perform their work to the best of their abilities. Regular contact with employees is necessary to show that you care about their contributions.

Another way to beat low morale is to develop an employee satisfaction survey. This is an easy, anonymous way for employees to voice their concerns and problems without being identified. Issues that are brought up from the survey can be addressed during an organisational meeting.

Extra ways that an employer can construct an environment that motivates employees include:

~Staff lunches

~Holiday celebrations

~Employee of the month

~Continuing education programs

An organisation that recognises that its employees are valuable and deserve to receive a certain amount of praise and recognition will benefit from increased productivity and employee satisfaction and retention, which in turn, will positively affect customer satisfaction. Otherwise, the expense of training each new employee so that they may excel in some OTHER organisation is foolish, time-consuming and expensive.

Management with the “easy-come-easy-go” mentality creates conflict, confusion and quite a bit of turnover in the workplace. Nothing positive can be gained by treating employees in such a manner. It’s no wonder that some employees treat their positions as a 9-to-5 job.

Any organisation can make changes for the better and help create an environment that is conducive to employee happiness. After all, the success of your business depends upon it.

The organisation with the right approach will be the one to reap the rewards of success.

“WHO” should Be Selling In Your Sales Copy?

Who’s “voice” your sales letter is written in, is a very
important factor you MUST consider,
before you ever sit down and write ANYTHING.

And of course, your entire marketing “angle” is going to be
dependent on that voice as well.

Generally, you have 3 choices of “voices” you can use.

First, you can use the actual person who is “selling” the goods and
services.

You’ve got to be careful with this one though, because your
prospects are going to be somewhat skeptical whenever YOU
personally are pitching something YOU will benefit from, for
obvious reasons.

When you are pitching in your own voice, I always find it
easier, and more enjoyable — and maybe this is just a
personal preference with me — to do this when you’re
selling a “service,” or when you’re selling information –
as opposed to when you’re selling a tangible product.

Why?

Simple: Because you can only talk “so much” about a
hand-held widget, but you can virtually go on forever about
information that’s in a book… a newsletter… a kit… a
“system”… or a set of services you’re performing.

And this is important, especially as the price of the items
you’re selling increases. Because the more you tell, the
more you can justify your high prices… credentialize
yourself… and go into detail about the benefits of your
services.

Tomorrow I have a special treat in store for you,
plus… I’ll tell you about another “voice” you can write
your sales letters in.

Now go sell something,

Craig Garber
http://www.kingofcopy.com

P.S. Wanna see more tips like this? Go check out the
archives
at: http://www.kingofcopy.com/tips/tiparchives.html

Don’t Discount Offline Business Opportunities

So many people automatically think of Internet businesses first now days. Why? Because they’re relatively cheap and quick to set up. What many don’t seem to realize though, is that are still some golden opportunities in the offline world too. One such business can be started for less than $50, and can start earning you cash from the first day.

So, what is this business? Vending machines. Now before you shrug this off as being too expensive, let’s look at a few facts.

1. Not all vending machines are big and expensive. The first image that comes to mind with the term “vending machine” is a large cola or snack machine. But that’s not the only type there is.

As a matter of fact, smaller vending machines are more common… they’re just not often thought of as a vending machine.

Think about your local grocery or discount store for a moment. Besides the cola machines, can you think of other vending machines that might be in place? If you’re a parent, you might have already guessed: bubble gum, candy, and trinket machines.

They’re small yes, but they draw cash and a lot of customers. They usually sell themselves. Kids can’t resist them, and even my grown adult husband has been known to put money into them for himself occasionally too.

2. Small vending machines open more opportunities for you. Due to the size of these smaller machines, they can be placed in many more places than a cola or snack machine can. Just a small list of examples includes:

• Grocery stores
• Discount stores
• Department stores
• Convenience stores
• Specialty shops
• Barber or Beauty shops
• Indoor swap meets/flea markets
• Doctor or dentist offices
• Pharmacies

And even government buildings such as the DMV, City Hall, or the local social services office.

3. Placing small vending machines like this is not difficult. In fact, it can be made much easier by simply offering the storeowner or manager a percentage of money earned.

4. You can specialize in a business like this. One specialty that comes to mind is to place your vending machines in health related establishments – health food stores, vitamin shops, doctor or dentist offices, etc.

Then, instead of putting regular candy into your machines, you could offer sugar-free treats instead. With the raging epidemic of diabetes and obesity in the U.S. right now, couldn’t you imagine how popular a sugar-free vending machine might be? Especially with doctors and health related establishments?

You could also offer mixed nuts, granola bites, or any other combination of healthier snack alternatives.

5. You can grow this business as slowly or quickly as you’d like. Small vending machines can be purchased for less than $50, and most of the small snack or “gum” machines are less than $100. By starting with one inexpensive machine and a decent location, you can make up your investment in just a few short weeks… or less!

If you re-invested your earnings by purchasing just one new machine each month, you’d have 12 by the end of the year. And they’d be fully paid for too! So everything earned is yours to keep.

So, whether you want a little additional income each week, part-time supplemental income, or full-time business income – take a look at vending machines. Once they’re in place, there’s very little work on your part… but an ongoing stream of income for you to enjoy.

To get you started today, here’s a great resource for finding inexpensive vending machines online. I think they might actually be the cheapest vending machine source I’ve ever seen. — Vans Vending – http://www.vansvending.com

Kathy Burns-Millyard

Every Blue Ocean Will Eventually Turn Red; Create An Unfair Advantage Instead

The vast red and blue oceans of the marketing world tsunamied into our awareness and vocabulary a few years ago, when two INSEAD professors, W.Chan Kim and Rene Mauborgne, claimed that competition can be rendered irrelevant.

Their book, Blue Ocean Strategy, heralded the news to marketing managers and CEOs all over the world: after years and years of surviving in red bloody oceans, swarming with murderous competitors, finally there’s a better alternative! In red oceans, executives captivated in a conception-cage of competitive strategy business thinking, have been rivaling head to head with their competition over the same consumer segments doing exactly the same things, only better and cheaper in order to offer customers a better cost/value tradeoff in order to convince them to stick around with their wallets open. In the process, these executives wore out their own companies and their profits were ground to dust. Now, the Blue Ocean enunciation, based on long years of research, claimed that both serenity and profitability can be amply found in Value Innovation, which creates, via a new business model and new products, a “Virgin territory devoid of me-too brand propositions and cutthroat pricing” (BusinessWeek).

Let us consider an example of a company which supposedly followed Kim and Mauborgne’s Blue Ocean strategy:

Casella Wines, an Australian winery, decided to “de-complex” wine for the sake of intimidated unpretentious adults. It decided to create new wine drinking rules, and to make a fun wine, sweet and fruity, to suit any taste. The chosen brand name was Yellow Tail; the label was highly recognizable, the selection targeted the mainstream (Chardonnay and Red Shiraz), and the price just above budget: $6.99.

The result? The brand quickly became the number one imported wine into the USA, without a promotional campaign or consumer advertising. In just two years it emerged as the fastest-growing brand in the histories of both the Australian and US wine industries. Casella Wines even grew the overall market. Genuinely Impressive.

The big “Blue Ocean” promise took over the business world, but also aroused a great wave of criticism, partially justified; with the strongest claim being that the text carries no novelty beyond Ted Levitt’s old differentiation directive, remolded with the trendy belief in the importance of innovation. Personally, I think differently. First, Kim and Mauborgne talked about differentiation and innovation on the levels of strategy and business model, while most traditional occupation with differentiation and innovation has been focused on the level of products or brands. But more importantly, the Blue Ocean thinkers honed a major observation regarding the nature of business competition.

In sports competitions, competitors are compelled to completely defined rules while striving to achieve a superior result. In the business world, competitors also strive to achieve a better result of the same type: a larger share of the consumer’s wallet. However, the competition does not restrict participants to any specific actions. The contrary is true. And yet, it is in this aspect exactly that Kim and Mauborgne are wrong and misleading, upon claiming that competition can be rendered irrelevant. Even in the case of Yellow Tail, which obviously turned many non-wine-consumers to active buyers, clearly when consumers are buying Yellow Tail they are buying other types of alcohol that they would have purchased in its absence. The prospect of raising demand infinitely simply does not exist. This is where the Blue Ocean Strategy finds its limitation. Since you always take sales away from someone (whether a direct or an indirect competitor), and being that you will always be surrounded by businesses striving to increase sales, once your Blue Ocean Strategy works, sooner or later someone will copy or even improve your already successful model.

One must credit the writers that they are not blind to this fact. In an interview with W. Chan Kim posted on www.businessinnovationinsider.com on October 2005, he said very openly: “After a while the first copycats will arise, competing on the very same value points as you. That’s completely normal; however it forces the entrepreneur to find a new strategy every several years.”

In other words, the most brilliant BOS will grant you with no more than a limited, relatively peaceful, period of time. Does this mellow promise of the BOS express maximal possible achievement? Naturally, you can guess that my answer is no. Introducing the Unfair Advantage. An UA is a situation in which you become unique and adored by your customers, while competitors do not imitated you.

Beyond the not so simple challenge of creating a differentiated value innovation, the critical question is: what can be done which is immune from imitations? Apparently the principle is simple as it is unexpected: when your innovation and differentiation are improving on benefits considered central to customers in your industry, fully expected from a product or service such as yours (I call it On-Core Differentiation), then sooner or later imitations will mushroom, no matter how big your innovation. Why? Exactly because the benefit is considered relevant by your consumer. On the other hand, when your innovation and differentiation offer further benefits which are not considered relevant in your category (I call it Off-Core Differentiation), there is a good chance of avoiding imitations, even after years of success.

This kind of differentiation, when it manages to excite consumers, is that which creates the Unfair Advantage. Why will you not be imitated? Because what you offer is perceived by your competitors as weird, irrelevant, or overly-unique, such which is pointless to imitate. This is the big secret. This is your competitor’s trap.

There are two main types of Off Core Differentiation: Imported Benefits, and Peculiar Particularity. In many cases we find a combination of the two. The first type happens when you import a benefit which is important to consumers in other product categories, but are not considered relevant in yours. Umpqua Bank turned its branches into a unique combination of packaged goods stores, and community clubs, in order to provide consumers with benefits of a pleasant buying experience as well as a social neighborhood hangout, to which they go on a regular basis for various activities and social gatherings. Umpqua is today the largest independent bank in the Pacific Northwest, and it grew in 15 years from four to 120 branches, which is an imaginary growth rate in the banking industry. And the best part is that no one even tried to imitate them.

The other type is a unique style which is not typical to the category. Take Toblerone, the Swiss chocolate brand. It has been producing its triangular alp-summit look alike chocolate bars since 1908. No one has imitated them. The Body Shop chain has grown to 2,000 shops in 50 states, to become the second largest cosmetics chain in the world. It is an active crusader fighting for environment protection, underprivileged rights, human rights and animal rights, worldwide. It fine tunes its acquisition policy, employee volunteering requirements, marketing communication budgets etc, for serving these purposes. Again, no one has imitated them.

So I’m challenging you now: do not settle for just the Blue Ocean Strategy, go out there and get yourself an Unfair Advantage.

Preparing for Tax Preparation

Being prepared for your tax appointment can really pay off in terms of maximizing deductions and minimizing tax as well as lowering fees charged by your preparer! Additionally, you should be able to walk away from your tax appointment with peace of mind that your returns are complete and accurate and maybe even with some tax savings advice that you can really use.

Finding a Preparer

First of all, finding a tax professional to work with is a very important decision. A tax professional is not only a tax preparer, but someone who can provide you with advice on tax issues and assist you with tax planning. You want to find someone who is not only professional and competent, but who is also a good fit for you and your specific needs.

Selecting a preparer solely based on price is not necessarily in your best interest. Preparers who are preparing many returns at lower prices may be more concerned with the quantity of returns prepared than the quality of the returns prepared. Returns that are rushed through may have errors or omissions which you are ultimately responsible for. A thorough, accurate return where deductions have been maximized legitimately should be your primary tax preparation goal.

If possible, it is best to assess your situation and look for a preparer early. This will allow you more time to find a preparer that is a good fit for you and to possibly even take advantage of a tax planning consultation that could save you more money in taxes. Keep in mind that if you wait to call around until tax season (mid-January through mid-April), it may be challenging to find someone who will be willing or able to speak with you over the phone in much detail about your specific situation.

If you find that it is tax season already and you have not decided on the tax professional that you will be using, there are a few ways that you can find out more about some of them without taking up much of their time on the phone. If you have access to the Internet, you can check out websites of local tax professionals to find out more about their businesses, their credentials, and the services that they offer. You can also check with family and friends to get some referrals.

One last point about finding a tax preparer that you really need to know ? they are not all the same! Did you know that only a few states require any kind of licensing or registration of preparers? Thus, in most states, just about anyone can open up a tax preparation business. Did you know that they all do not have full-time, year-round hours? This is important in case you have questions or problems after your taxes are prepared. You should do your homework when checking out potential preparers – find out about their licensing/credentials, education, experience, and availability throughout the year. Two professionals that you should consider in your search are Certified Public Accountants (CPAs) and Enrolled Agents (EAs). They each must meet strict criteria to obtain their designations as well as adhere to a strict code of professional ethics and meet annual continuing professional education requirements.

Getting Prepared and Organized

Once you find a preparer that you want to work with, you will want to be well prepared and organized to ensure that you get the most from his/her time and service. Being organized and prepared can reduce not only your tax liability, but your tax preparation fees as well.

Before proceeding with the actual pre-meeting preparation steps and specific items that you should bring to your tax appointment, it should be noted that all preparers do not actually meet with their clients face to face to prepare their returns. Some just have clients drop off or mail their information. Once the returns have been prepared, they mail the returns to their clients or have the clients pick them up. Would you feel comfortable not meeting with your family physician for your child?s annual physical exam? There is so much more you can get out of the tax preparation process by meeting and working with the preparer!

The following are steps that you should take before meeting with your tax preparer:

• Schedule your appointment early. The earlier in the tax season you schedule your appointment, the less likely it will be that your preparer is dealing with many stressed-out, last-minute clients. Additionally, you will be more likely to get an appointment for a day and time that fits well into your schedule.

• Review last year’s return. This will remind you of any tax issues or situations that you will need to discuss with your preparer as well as remind you of items that you will need for your appointment.

• Organize all receipts and paperwork. The ?shoebox? or similar method is not the best for your tax appointment, unless you want to pay your preparer to sort, organize, and add up receipts. Have your receipts organized and totaled by category. Have other relevant documents organized by category.

• Gather all tax-related mail that you receive to include pre-printed tax forms, tax booklets, and tax reminder notices. These items often will include information that is helpful to your preparer in regards to your situation. Many tax clients assume that because their preparer uses tax software that there is no need to bring these items to their tax appointment.

• Prepare information on unusual situations. If you have any unique tax situations or liabilities, prepare to discuss them. This includes any past problems you may have had.

• Bring relevant computer data files. If you track your finances with a program such as QuickBooks or Excel, bring the data file(s) with you. Having the data file(s) handy might assist in answering any last minute questions. Call first to make sure the preparer’s office supports your file format.

• Brush up on relevant tax law/tax changes. While this it is not always possible for the non-tax professional to be fully versed on tax law, the more informed you are, the better you will be able to assist in the return preparation process, provide important information, and keep unnecessary questions to a minimum. Visit the IRS website (www.irs.gov) and the website for your state department of taxation/revenue ? you will most likely be surprised how taxpayer friendly these sites can be.

• Compile your questions into an organized list. Try to avoid asking questions haphazardly/at random during your tax appointment or making multiple phone calls to your preparer in the same manner. This is not an efficient use of your time or your preparer?s.

• Be on time for your appointment. While we are all busy, there is probably no one as pressed for time as a tax preparer during tax season. If you are late, this could take away from the time the preparer can spend with you. It is important to keep in mind that your preparer may have appointments with other clients before and after your appointment. Accordingly, keep in mind that it is possible for your appointment or the one before yours to run a few minutes over the scheduled/allotted time, so be patient.

• Avoid distractions during your tax appointment. Chit chatting with your preparer, cell phones and pagers, and bringing children with you to your tax appointment can create unnecessary distractions for your preparer which could result in unintentional errors on your tax returns. Your preparer needs to be able to fully concentrate on the task at hand.

• Do not delay getting information to your preparer. If after your tax appointment you need to get back with your preparer with additional information, do so immediately so your return is still fresh in your preparer?s mind and to avoid the last minute April 15th rush. Remember, your preparer has many other clients to deal with. Thus, he/she cannot be expected to call to remind you that he/she is still waiting on information from you. You should take responsibility for getting additional information needed to your preparer and for following up in regards to your returns in process.

As for some specific items that you will not want to forget to bring to your appointment:

• Make sure you have all documents related to income. Examples include wage statements (Forms W-2s); pension and retirement income (Forms 1099-R); interest and dividend income (bank statements and reports, Forms 1099-INT, Forms 1099-DIV); self-employed business income; lottery or gambling winnings; Social Security; unemployment compensation; rental income; commissions; and tips.

• Provide documentation of expenses and losses. Examples include self-employed business expenses; lottery or gambling losses; expenses from rentals; medical and dental expenses; unreimbursed employment-related expenses; job-related educational expenses; job search expenses; moving expenses; and child care expenses (to include care provider?s full name, address, and tax ID or Social Security number).

• Provide documentation related to your home. Typically, home ownership provides many great tax benefits. If you buy or sell a home during the year, make sure you bring complete documentation regarding the sale or purchase of a home. Additionally, bring information/statements related to real estate and personal property taxes and mortgage and/or home equity loan interest paid.

• Documentation related to miscellaneous income or debt. Other items to bring documentation on, if applicable, include, but are not limited to: sales of stocks and bonds; state and local tax refunds; alimony paid or received; estimated or foreign taxes paid; and cash and non-cash charitable donations.

• Information on new dependents to be claimed on your tax return or changes to dependents. If you have had a baby, gotten married, have begun supporting a relative, etc., your preparer will need name, Social Security number, and date of birth information (also discussed below). A name change is another example of such information that your preparer will need.

If you are not sure if something has tax implications, bring the related document or information and ask!

Furthermore, if you are a new client to your preparer, you will need the following items/information as well:

• Your prior year tax returns to include relevant supporting items such as Forms W-2s. Not only your Federal return, but also your state and any local returns. There are items on your prior year returns that may carry forward to your current tax returns. Additionally, the returns allow the preparer to better understand your tax situation.

• Full names, Social Security numbers, and dates of birth for all persons that will be included on your tax returns. It is very important that names and Social Security numbers given to your preparer exactly match up with what is on the individual?s Social Security card. Bringing actual Social Security cards to your appointment helps to ensure this. Additionally, dates of birth must be accurate. When such information is not accurate, this can cause your return to be rejected for processing or otherwise cause a delay in processing of your returns.

In addition to the above listed items, your preparer may have some additional required items, such as a valid state issued identification card or driver?s license for each taxpayer.

Remember, even though the preparer bears some responsibility, you are ultimately responsible for your tax return. So finding a great preparer and being prepared and organized will help ensure that you recognize the greatest tax savings possible and that your tax appointment goes smoothly!

Building Real Estate – New Home Construction Tips

Your next few months constructing your new home could prove to be a time consuming and daunting task. You must recognize that it is difficult, if not impossible to have everything go smoothly. When buying a home while it is under construction you must have some key notes available. First, the contract of purchase and sale must be clear and very detailed to outline your expectations. It must describe the specifics including the details of the labor and materials used to satisfy your buying agreement. These stand from of construction contracts are available and these forms of agreement are designed to provide an enforceable agreement between the seller (builder) and the buyer.

If your developer asks for a deposit (which he will) make sure that it will be deposited into a trust account. If the agreement should default, the deposit should always be returned back to yourself. If the developer wishes to hold your deposit as a stake holder, the return of your deposit may be more difficult. In addition to the standard contract of purchase and sale, you should include a specifications sheet and the plans for the house. Building contracts are long, complex documents. Both parties (builder/seller and buyer) should obtain legal advice prior to entering into a building contract.

Do the walk though! Insist that prior to possession date, both parties conduct a walk-through of the property prior to possession date. Make sure that all the work is completed and agreed upon. At this time, both the seller and the buyer should sign and date the list. Copies should be given to both parties, realtor?s and lawyers involved. The crown has developed a program in 1998 called the Home Owners Protection Office. Essentially it is designed to protect the quality of construction in a new home development. This office licenses residential builders and building envelope renovators, monitor?s the provisions of mandatory third-party home warranty insurance and researches/educates the residential construction industry and consumers.

If you are the owner of a leaky home, the HPO will administer no-interest repair loan programs and PST relief grants for owners. They?re set up to ensure that no one has to lose their home due to the cost of repairing a leaky home. The reconstruction loan program provides no interest loans to homeowners and housing co-op?s who are unable to pay for the cost of repairs.

Your warranty includes a minimum of two years on labor and materials. Five years on the building envelope which includes water penetration. And ten years on the structure. In order to minimize confusion about warranties, the HPO created this 2, 5, 10 year home warranty insurance logo. It?s now used in the marketing campaigns of your local realtors and builders in the Residential real estate market of British Columbia homes. This should take place when you first occupy the home. You could always find more information on this topic by visiting www.hop.bc.ca

Finally make sure that your realtor inserts a clause clearly stating that the occupancy certificate must be obtained on or before completion date. However, landscaping and other outside work can still be in the process of completion. Your occupancy permit merely allows you to move into your new home! We hope this article helped you think of some things that you might not normally know. Please do not rely on this article as a guide or legal advice as you should always consult your lawyer or local realtor for advice, they are the expert.

Secrets of My Favorite Government Auction

I love bargains. And there?s no better place to find bargains than an auction. And there are no better auctions than government surplus auctions. My favorite government surplus auction takes place the 3rd week of September every year in the County Park. I won?t tell you which county park as this is my best-kept secret! Even though the auction is advertised in the local papers (as required my law), I usually find the same 20-30 people mulling around, looking at all the lots. And many of them I know are not high-bidders!

This annual auction is the county-wide surplus auction. You will find everything and anything here as the county has various and departments. They have the typical office equipment and furniture, cars, trucks, law equipment, etc. But some more unusual things that have been auctioned off have been things like a street sign maker (for making stop signs and the like), a row of metal lockers (from the old county pool), playground equipment, 5000 plastic cafeteria trays (that sold for $8!), a stainless steel chef?s cart, a chrome torpedo trash can, and a fully operational dump truck that went for several hundred dollars.

Since I have been attending for many years, I know what to expect and I know how much to pay. For example, they typically have a dozen retro office chairs that sell very well on ebay. The opening bid on the chairs is usually $5.00 each. However, by not bidding, I can usually wait (and luckily no one else knows what a gold mine these chairs are?they just look like dirty old chairs!), and the auctioneer will lower the opening bid to $3.00, then $2.00, then $1.00, then fifty cents! Still, I am patient and wait as he throws in two or three more chairs for fifty cents! My last trip to the auction, I netted seven chairs for $4.00! I turned around and sold them for $25.00 each!

This is just one of the examples of the deals that I have found at the County Auction. The secret to my success is three-fold:

1. I know what is ?hot? in the market by browsing ebay, watching HGTV, and flipping through home magazines.

2. I know what the going retail prices are and keep these in mind when I am bidding. I usually arrive at the auction early with a notebook and check out all the lots that will be auctioned. I jot down the lots numbers and the highest price I am willing to pay for that lot.

3. When the bidding starts, I wait for someone else to start the bidding. I place myself so I can ?read? how badly they want the item. I will wait to place my bid. I never get caught-up in the bidding. And I always bow out at my high price that I wrote in my notebook. This way I can avoid buyer?s remorse!

Using these tactics, I have successfully won many items at the local auction and have made a huge profit reselling these items. If you use these techniques, you will also be successful at your local auction. I just hope you never find my gem of an auction, and never bid against me!

What Business Are You In?

Back in the early-1990’s, after I had quit my job in higher education, I began my journey into the self-employment world by opening a business in which I made stenciled floorcloths and wallhangings and sold them at juried craft shows. The business wasn’t going so well, and I wasn’t really enjoying what I was doing, so I decided to enroll in an entrepreneurial training program, thinking that whatever I learned in there would help me build and grow my business.

One of the more interesting tidbits that I remember from the program is a conversation on what business each of us was really in. I, of course, thought I was in the crafts business — anybody could see that as plain as the nose on your face. What I discovered in this process is that many times we are not in the business that we think we’re in, and shifting that mindset may make all the difference in the success of your venture. One example given was the McDonald’s restaurant franchise. Now, call me silly, but I had always thought McDonald’s was in the restaurant business. It seems, however, the McDonald’s is really in the real estate business.

Yep, that one surprised me, too. Apparently, the strategy of McDonald’s is to seek out very valuable pieces of commercial real estate on which to locate their buildings. By doing so, the location and the real estate becomes their real asset, often worth much more than the actual restaurant that sits on the site.

I had occasion to ask this question to a potential client a few weeks ago. This family runs an entertainment facility in which dances and social events are held in the evenings. They aren’t able to run a restaurant from the facility, so it sits empty most of the day. When I inquired about what business they thought that they were in, I got the expected response — the entertainment business — and it’s a business in which they’re struggling. I told them that in reality, they were in the space rental business. I asked them if they’d considered renting the space out to hold bridal/baby showers, children’s birthday parties, proms, school dances, family reunions, class reunions, etc. in the times when they weren’t using the facility. They had never even considered this. Furthermore, I added, the key to increasing their revenue was to look at ways that this very large facility could be generating income for them during times they weren’t using it for their business. This question helped them put a completely different spin on this business–it wasn’t something they’d ever considered before, as it didn’t “fit” with the business they thought they were in.

Are you in the business that you think you’re in? In my stenciling business, I wasn’t really in the crafts business at all — I was in the interior design business. In my coaching business, I’m really in the “help me fix my business” business. Give some thought to what business you’re actually in. You may discover an entirely new perspective and new opportunities that you never previously realized.

Copyright 2006 Donna Gunter

Defining The Qualities of A Professional

In today’s business climate we are experiencing more interest in professionalism. The past five years provided many successes; however, most have been overshadowed by the non-ethical behavior of a few. Some people lost most of their retirement savings, and the US population is demanding a stronger US economy and a peaceful world.

We’ve seen quality job opportunities decreasing and the need for profits has many projects being partially or wholly completed overseas. Many employees are traveling to other offices in the US because of the lack of projects locally. If they choose not to travel, they are being asked to take vacation or risk being laid off.

In tough times, I look to fundamentals to help right the path. One fundamental factor more prevalent in daily dialogue and business consists of defining the qualities of a professional. Some define a professional as a person who is being paid for a service. True, we require money to trade. However, some get paid by doing illegal activities.

To simplify, you can be or recognize a professional when three qualities are present. The first quality is trustworthiness. When you meet a person for the first time you immediately associate a level of trust with the person and their service. If the person happens to come via a recommendation, then usually the trust is greater. Regardless, just as relationships develop so does the level of trust. People that associate with each other on a high trust level know how to talk to one another and provide reasons the service they are representing can be beneficial. Knowing how to talk to one another is more than mannerisms. It is the ability to motivate one another to create positive results. Additionally, your involvement and input in your company, associations, volunteerism, charity work, and political ideas and opinions help develop trust. Not necessarily because two people agree on an issue but because somewhere on this path a common trust level evolves and continues to evolve as you share experiences. When trust is present, people will buy from you or recommend your service.

Secondly, one should be helpful. By being helpful, you are essentially putting the other person in a better position. Negotiating is a great tool to show your willingness to help. An individual likes being dealt with as an individual. We as people and our services are too robust and diverse for “one size fits all”. However, be sure you negotiate fairly. Don’t provide an offer and service to someone unless they can provide valid reasons to do so. Putting together value metric points (goals) for your client is a great way to validate the value of your service. Be patient, ask questions to understand, have service options, and close win-win deals. Knowing how to make deals is essential to the success of a professional.

And lastly, a professional must care. Caring shows a desire to gain a better understanding of an individual’s current scenario and what opportunities exist for you. It is the quality that says we may be individuals competing or not but when a certain scenario or circumstance exists we are united. When all three qualities of a professional are present, expect to see not only a professional but one that gets paid well and has a well balanced life.

Business Entities ? What Are The Choices?

When you decide to start your own business, one of the most important decisions you will make is determining which business entity is right for your business. This decision will have a huge impact on how the business is operated, how taxes are paid, and your personal liability. Different types of entities have different advantages and disadvantages that must be taken into consideration, but you should start with an understanding of exactly what each type of business entity is.

The sole proprietorship is the choice for most business startups, but it isn?t necessarily the best choice. What makes this type of business structure attractive is that it is the easiest and fastest way to set up a business. All that is required for a sole proprietorship is a business license, which can be obtained in about an hour by visiting your local court house, paying the fee and filling out a short form.

A partnership is just like a sole proprietorship, except that there is more than one owner. Again, a business license will be required, and while not required, a legally binding partnership agreement is highly recommended. The agreement should include the rights and obligations of each partner, how profits and losses will be divided, and how the partnership will be dissolved should one of the partners want out. There are actually two types of partnerships ? a general partnership, and a limited partnership. The main difference between the two is that in a limited partnership, the limited partner?s legal liability is limited to the amount of their investment, but this limited partner does not have an active role in running the business.

Corporations are more complicated to set up, but they also offer individuals the most protection. There is additional record keeping and administration work that must be done, but the business owner is not legally liable for the actions of the corporation. Should be business get into financial trouble, creditors cannot come after the individuals assets. There are two types of corporations ? C corporations and S corporations. C corporations have tax disadvantages, such as double taxation, and most businesses that incorporate choose the S corporation structure, which allows income to pass directly through to the individual shareholders.

The limited liability company (LLC) is an alternative to corporations that many small business owners look to. Like a corporation, the owners of the business are protected from liability, but the business is taxed as a sole proprietorship or partnership. There is typically less paperwork and expense involved in setting up an LLC, as opposed to setting up a corporation. This is the most feasible choice for many small businesses.

For the most protection, a small business owner should opt to either incorporate the business, or form a limited liability company (LLC). Even though a sole proprietorship or partnership is easier to set up, and doesn?t cost as much to start, it just will not offer the business owner or owners an adequate amount of protection, and in the end, could cost the owners more money than the cost of setting up a corporation or LLC in the first place.

Get Out Of Debt With These Budget Building Secrets

Many people dread the task of building a budget because they view it as overwhelming and frustrating. But it will make the job easier if you look at it in another way; the only way to financial freedom. Do you feel as though there is no way to get out of the red and into the black, much less plan ahead for your retirement or even a vacation? Are you tired of getting paid on Friday and being broke before you even get home? Do you have tons of useless junk that you wish you?d never bought? If this sounds like you, don’t fret, because there is good news! There is a lot of helpful information and tools out there for you in different formats. And you can choose which one suits you the best.

One option is to use software tools, they some really easy tool to help with budgeting. A couple of examples of good software are, Quicken and Microsoft Money. They both are great, and come with many options and tools for budgeting. A good money management software will take you through the steps and allow you to create or add to categories of spending so you will be able to look at the annual picture. So that you can be prepared, these types of software, will then break down what you need to look at every month. Money management software helps with your budget because it lets you see your money all in one place, as well as giving you prompts when it?s time to pay your your bills. Would you like to have payments automatically deducted from your bank account? Some programs will enable you to do just that! This is a great feature if you?re trying to build a good credit rating, and want to make sure your payments are sent on time.

As you spend money, you will be able to change the categories in the software; this will allow you get a better picture of where you need to cut back, or where you need to invest more. Many money management software programs often also have companion websites where you can set up an account and further manage your budget or investments.

If you want something besides software, and want to be a little more hands on to get yourself back into the black, you have many options. You can contact a local credit counseling office in your area or online and find out what resources they have available to you. Many offices have free classes on budgeting.

Many people have such a hard time with budgeting because they simply don?t know where their money is going! There are some great new websites such as Moneypants.com that help with this issue. These web sites will track all of your spending and then help you set up your goals. There is a low monthly fee to use any website that will help you with this, but they are generally very user friendly, and in the case of Money Pants, even fun to use. You will have access to someone who can answer questions and a message board where you can find a lot of other information. One great feature is that they will email you with reminders when you have a bill due.

As you can see, building a budget doesn?t have to be a painful task. If you do it right, you will get to watch, step-by-step how your financial picture changes. Just imagine, you may one day soon be debt free, or even own your own home. The key is to take it one step at a time, do the process in small bites, and be sure to take advantage of all the tools available out there. You will have a better life in no time!

Beating The Business Blues

Internet marketing is a wonderful business, but if you are like me, there are days when you get really down and just can’t seem to get going. This is compounded for some people with the Winter Blues. Sometimes sitting in your lonely corner of the bedroom or living room, it seems like you are the only person on earth. You sometimes feel like you are in a cage and there is no way out! This can also be compounded by a slump in your business sales or successes.

When you feel like this, it is hard to get any work done and can be very counterproductive for you. You must step back, take a break and clear your head.

I have found a few things that can help alleviate these problems and would like to share them with you.

1. Get up and get away from the computer for awhile. Even if it is only for 10-15 minutes. Walk around the house, stretch your muscles, do a few neck and back stretches. These can do wonders!

2. Take a walk. Get dressed, go outside, breathe in the fresh, cool air of winter and take a 30 minute walk. This is one of the most invigorating things you can do to clear your head and get the cobwebs out. Walking is the one activity I would recommend most.

3. Call a friend or family member and talk for awhile. This can also be a great way to lift your spirits and confirm your suspicions that there are other people on this planet! Chat for awhile and laugh a little. Laughter is a great medicine!

4. Have some fun! Put on some of your favorite music and dance around the house for awhile. Let loose and have some fun. Act goofy, crazy or waltz yourself to China. This helps get out some of the frustrations and pent up emotions that can cause the blues.

5. Just relax! Turn everything off, make yourself a cup of coffee, cocoa, or just plain water. Just sit in complete silence and watch the birds outside or put a cool cloth over your eyes. Let your mind go blank for awhile. Forget everything and just relax!

6. Exercise your mind! Show your mind that there is more than just the computer. Do a crossword puzzle, play a few games of solitaire, or read a book. These are all great ways of getting your mind of business and clearing out all the old to make way for the new.

7. Do some housework! This might not be the most fun thing to do, but it helps take your mind of business for awhile and believe me, after about an hour of housework, you will be more than ready to get back to business!

8. Take a TV break! Watch a program that allows you to escape to another world. After you are finished you just might be glad to get back to your world!

If you would like to find out more about beating the blues, you can visit these sites:

http://www.uhs.berkeley.edu/FacStaff/Ergonomics/stretch.html

http://www.divorcekit.com/blues.htm

http://www.smile-publishing.com/tips.html

http://www.lifetimetv.com/shows/strongmedicine/chatroom/1210/1210.html

I hope some of these pointers will help you relax and get back to business. I know that they have been a great help to me more than once. Sometimes when you are feeling unproductive or just plain tired, the idea is not to work harder, but to stop working and give your mind and/or body a well-deserved break!

Magic Number Calculator ; A Diagnostic Approach to Sales Performance Improvement

The most overlooked Key Performance Indicator is the “Magic number,” which refers to how many new appointments a sales rep must generate each week in order to achieve their revenue goal.

In early 2000 I walked into a VP of Sales mission with a sales organization consisting of 120 reps spread out over 12 sales regions. They were running at 38% of revenue goal for over 2 years. I ran a KPI study and determined they were running 2 new appointments per week/rep, but their KPI?s dictated they needed to achieve 7. So I announced a training objective to enable them to do it effectively, (now branded the X2 Sales System?) and threw quota out the window for 90 days. But I replaced the monthly quota with the weekly ?magic number?.

8 months later sales units sold increased by 520%.

Calculate your sales team?s ?Magic Number? here:

http://convertmoresales.com/marketing_blitz.php

A rep’s magic number is determined by looking at several of her other KPIs. Say, for example, that your company sells copiers (for which an average sales cycle is 45 days) and that a rep’s monthly sales revenue goal is $15,000. Her average revenue per sale, meanwhile, is $2,500; her current first-appointment-to-proposal ratio is 60 percent; and her closing ratio is 40 percent. What’s her magic number? In other words, how many new appointments does she need to set each week in order to achieve her sales revenue goal of $15,000 per month?

The Magic Number Formula

Monthly sales revenue objective: $15,000

Divided by (/)

Average revenue per sale: $2,500

/

First-appointment-to-proposal ratio: 60%

(What percentage of the time do reps gain commitment from prospective clients to “take the next step” in the sales process after the first appointment?)

/

Closing ratio: 40%

(Proposal to close–measures proposals submitted vs. new business achieved.)

/

Weeks in the month: 4

=

Magic number: (approximately) 6 new appointments each week

Once you have identified the magic number, the next step is to determine how many new appointments a rep is currently generating each week. If she is falling short of her six-appointments-per-week goal, your job as a sales trainer is to find ways–through targeted KPI training–to help her bridge that gap and achieve her “magic number.”

Here are some tips for doing just that:

1. As an organization, announce that the ability to convert conversations into appointments will become a KPI of the sales process.

2. Define an appointment-setting objective and train to that objective. For example, if the average weekly amount of time that sales reps devote to prospecting new clients is 22.5 hours (out of a 45-hour workweek), your organization’s objective might be to cut that prospecting time in half (to 11.25 hours per week) while simultaneously exceeding current appointment-setting levels. With your objective in place, it’s now time to break down and document the steps in the prospecting process and train reps on how to make better use of their prospecting time during each step.

3. Map out all possible scenarios that might occur during the prospecting process. Once you have done so–and documented best-practice strategies for handling each scenario–create mini training modules and/or job aids that show reps how to handle each scenario effectively.

4. In addition to enhancing reps’ prospecting skills, another way to ensure that they achieve their “magic number” is to help them improve other KPIs in the “magic number” formula, such as their closing and first-appointment-to-proposal ratios.

> To increase their first-appointment-to-proposal ratio, for example, your training might encourage reps to start at the “top” with those who have fiscal authority and can “call the shots.” Training might also pinpoint ways for reps to avoid “selling” products during the first appointment by providing them with an outline of the diagnostic steps they should follow in order to evaluate the fit between their solution and a prospective client’s business objectives.

> To increase reps’ closing ratio, meanwhile, the training you develop might show reps how to ask pertinent questions to determine what a prospective client’s decision-making process entails, what the client’s internal criteria for change include and which players need to be involved in the sales process in order for proper evaluation of a product to occur. In addition, your training might show reps how to catalog risk factors (e.g., possible objections or reservations a client might have regarding purchasing a product or service from your organization) for each player involved in the decision-making process and then provide reps with strategies, tactics, and tools for direct communication with clients based on those risk factors.

In the end, targeted, effective sales training can make a critical difference to your bottom line, and so can effective goal-setting. In today’s high-performance sales culture, it’s up to trainers and sales management to work together to focus more on daily and weekly goals and less on monthly or quarterly quotas. Success in doing so rests on the ability to switch paradigms from looking merely at required end results to also determining the necessary KPIs it takes to get there–and then building supporting tools and training to help sales reps along the way.

And, above all, don’t forget your magic number!

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