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Money

Planning For Success With A Home Business

At this time of year we tend to look back at our Internet Marketing activities and consider what we have achieved. More importantly we need to think about where we are going and what we will achieve in the future. We have all heard that old chestnut about your glass being half full or half empty, that is just a play on words, my simple opinion is that if you have a negative approach you will have negative results.
Over the last year internet marketing has been a bit more of a challenge with the worldwide credit situation, not helped by the banks and financial institutions that we normally depend upon who have largely been responsible for creating this situation. If you have a home business already or maybe considering a home business idea then my advice would be to use to use this time to re-evaluate your existing business or your business plan and to get ready for the busy period in January.
If you own a website and/or a blog then why not use this time to write a few more articles or check out other advertising resources that you may find beneficial or maybe re-design your site to make the content more appealing. Search engine spiders are always looking for new content and that will increase your page rank so it is always a good time to check out your site to see if it is optimised correctly for your keywords. Even with the best home business ideas it is important not to underestimate the power of Search Engine Optimisation (SEO) as it is fundamental to your site success.
You can have the best and most interesting website in the world but it is nothing without visitors. If you don’t have a website then that is OK, it just means that you advertise using different methods like classified ads, ezine ads, offline adverts, word of mouth, leaflets etc, it’s all good and you are only limited by your own ambition.
This business is traditionally quiet at this time and in some ways I am happy that it is because our lives are so busy busy busy that it is only right that we share a bit of quality time with our friends and loves ones and re-charge our batteries. In closing may I just wish you a happy and peaceful Christmas and a very prosperous 2011 and as always I am here to help if you need me.
best regards,
Mal Tindle…

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Business Ideas

Small Business Success – Don’t Let Your Big Customer Sink Your Business

A big, repeat customer for a new small business can be both a blessing and a curse. The positive side is more obvious-the business establishes an early recurring source of revenue. Since revenue is the lifeblood of any business, what could be wrong with that? Nothing, if you don’t stop there.
Any new small business owner will tell you that there is never enough time to do everything he or she knows they need to do to grow their business. In addition to fulfilling customer orders, there are personnel issues, the website and other marketing activities, and an unbelievable number of administrative tasks that must be done even if they don’t help to grow the business.
It seems perfectly logical to focus on just that one big customer when keeping up with that customer’s orders is taking all of your time. After all, you have too much work to do now. Why go out and look for new customers? Wouldn’t it be better to just take care of the business you have? The answer is ‘absolutely not.’ Don’t fall into that trap.
Of course you want to take care of your big customer. But you cannot stop there even for a short time. Doing so becomes a habit and a way of life for too many small business owners. Remember, if you only have one customer, no matter how big, you don’t have a business, you have a job. Eventually it will become clear that you have no leverage and no control even over the fate of your own company.
To drive this point home, imagine that your new business gets off to a great start. You land that big customer that everyone would want and you take care of them like no other. Your business grows, you’re hiring people, taking on more office space, profits are strong and you’re living the American dream. Then, after three years, they still account for 80% of your business and suddenly something changes. For any of a hundred reasons, you’re notified that your number one customer will be your customer no more.
Within 90 days, you lay off more than half your staff, take a pay cut and are negotiating with an unsympathetic landlord to take back some of the office space. As you sit in your office alone at night with your head in your hands, you say to yourself, ‘If only we had gone after other customers when we had the chance.’ This story and this pattern are far too common among small business owners. It leaves previously successful small business leaders feeling betrayed, humiliated and defeated.
Regardless of your success with any given customer, it is essential that you build a broad base of customers as if your business depends on it-because it does. To ensure that your team gets behind this goal include “number of new customers” as a metric in your incentive compensation or bonus plans. As the business owner, delegate less important tasks and stay involved in both the ‘big’ customer account and the effort to bring in new customers. If you’re just starting a business, be sure that in your business plan outline you demonstrate how you will pursue a broad customer base.
Be sure that your small business plan and operating plan make a commitment to developing a diversified base of customers. This is a winning long term strategy. In doing so, you’ll even out the ups and downs in revenue and profitability. This will serve you well if you ever seek a small business loan or line of credit. You’ll be creating a business with a higher valuation and one that delivers stability and peace of mind to its employees and owners. Make sure your small business plan includes a commitment to building a broad base of customers.…

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Google My Business

Putting Together a Business Plan Helps Manage Your Time and Business Success

Setting goals for your business is important. It gives you a plan and structure to work with to grow a successful business. A person may fail in business because they fail to plan, and they do not have a structure to work with.
When a business owner decides to open a brick and mortar store they know that it can be successful. When that business fails it’s because they have the experience selling their product, but they fail to plan the success of their business.
When planning to open a brick and mortar store, the business owners action steps should be: to first find a good location where his target market lives, to talk to the rental agent who represents the property, write a business plan to secure financing for the store from a bank to cover the overhead, decide what products he wants to sell in the store, and secure contracts to purchase the products from the wholesaler. Once he secures a lease to rent the space, before he can open the doors he has to put out deposits for utilities, remodel the store, and finally hire and train staff, before advertising and opening the doors for customers.
Some business owners fail to plan out their strategy to build a successful business, that is why many fail. The biggest drawback to having a brick and mortar store is having the finances to cover the overhead before getting started. This is why it is important to sit down with a mentor who can help you strategize putting a plan in place to build a successful business.
No matter what business you are in, business owners also need to consider having a strategy for a presence on the Internet. This gives the business owner a storefront or website that is open 24/7. There are many people who buy online today. This gives the business owner an opportunity to establish multiple streams of income for his business. It gives the business owner an opportunity to earn income even when the doors are closed.
When the business owner puts together a strategy for building a successful business, and has a written business plan that lays out each action step they will take when putting the business together, they give themselves an opportunity to increase the success of the business in today’s marketplace.
People will always buy what they need, therefore, a good business strategy is to decide what your niche is, where the holes are, and how you can fill it. A good example is when a chiropractor decides they can run their business home rather than an office. There are people who need chiropractic care but don’t have transportation to get to the office. The chiropractor can work from home and visit those clients in their home to make the adjustments.
This is something that massage therapist have always done in the past to fill a niche. The idea here is to look at what you have a passion for and if there is a niche that you can fill for people who need your services or products, but can’t get out of the home.
This is also why products used to be sold door-to-door. When you were able to go into the home and demonstrate the product, many times it led to a sale for the salesman. What seems to be an old strategy for business, can also work today, as a new strategy. At one time encyclopedias where door-to-door, before companies began selling them through telemarketing. Today, they can also be sold through a website on the Internet.
When the business owner is planning their strategy, they should break it down to its smallest action steps. This gives them the opportunity to set up multiple streams of income just selling one product. The problem is for many business owners they moved towards the new strategy of selling their products and forgot the old strategies that worked before. When the business owner combines all of these strategies together, they are putting together a plan for a successful business. Plan to succeed and succeed to plan!…

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Business Owner

How to Make Money Online: A Virtual Assistant Business Plan Is Important to Your Success

A virtual assistant business plan can help you determine the direction that will give you the best possible chance of success. Virtual assistants are independent contractors who perform a variety of tasks and services remotely. If you work as an assistant, writing a business plan will help you define your objectives and assist you in keeping your daily tasks well managed.
Benefits of a Business Plan
If you want to effectively promote your services and achieve your career goals, then you need a plan for your online business. A virtual assistant business plan can help you establish priorities and find new job opportunities. It should also give you a clear picture of your goals, competition, budget, services, and targeted audience.
Writing a plan for your business is a great way to increase your self confidence and organize your ideas. A business plan shows you where you need help and guides you into the direction you want your business to go into. It also outlines your vision for the future of your business and enables you to identify problems early on and take appropriate action. By creating a plan, you will be able to look at your business ideas objectively and persuade others to invest time and money in your services.
How to Write a Business Plan
The Internet is an excellent resource for finding a business plan template. A standard plan should include the following sections:
• Summary
• Company description
• Services
• Objectives
• Strategy and implementation
• Market analysis
• Financial analysis
It should answer four simple questions:
• Why does your business exist?
• What are your goals on long term?
• How will you get there?
• How much will it cost to achieve your goals?
Your objectives should be measurable and realistic. The plan you write should have a logical structure and present a well thought out idea. You also need to identify your potential customers and show how they will benefit from using your services. A plan that covers all aspects of your business will help you advertise your skills more effectively and find new clients who are interested in what you have to offer.
There is no single formula for creating a business plan. Make sure you understand what makes your business unique and then search for ways to achieve your goals. Your plan should outline potential opportunities for your business and help you implement your sales strategy. Identifying your objectives will make you a better assistant and help you grow your online business.…

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Business Insider

What Is A Success Strategy?

Give a man a fish everyday, his appetite is sated. Teach him how to fish, you have fulfilled his appetite for an entire life time. This is strategy. To make it work, to make the impossible, possible. There is no drawn out template for success or for that matter strategy. But both of them go together when the right strategy is used at the right time and you can bang on your target. Neither the same strategy fits the bill for everybody. Your smart approach to that particular situation backed up by your knowledge and experience does the magic. It cannot be taught, it comes from within you when the situation warrants for action. It is more like “Survival of the fittest”, if you want to retain your niche in this business world you act fast and think wise.
How many of you are bold enough to think differently to make a difference, to make others feel your presence. See, you should not force yourself into the situation neither by copying or imitating others, nor by criticizing and commenting on your competitors products or services. That will paint a greasy picture on your firm. That is of course strategy but cheap strategy. But always be on the run to know your competitors’ weaknesses and shortcomings which will make you improve your product or a service. That is permissible in the dictionary of business as little spying will even put you in the right track.
Strategies must always be constructive and it assures success in the long run. Tactics or gimmicks will prove to be fruitful only for a short while and that is not your aim also. Will you be satisfied if you are able to sell your product or service as hot cakes only for a season! Is that going to cover your profit margin for the entire accounting year? True, strategies are always associated with making profits, boosting up the sales, for retaining the market share and maximizing the share value. But it should also make your business perennial and viable.
Many of us forget that strategies are applicable in every activity of a firm that forms a compact framework which gives your business a solid foundation upon which you can build your empire of success without looking back. Right from framing your vision, mission, policies, procedures and programmes including recruitment, selection, training, evaluation and empowering your employees strategies play their role in giving clarity and direction to the firm and also distinctive competence and image to your firm.
Although strategies are meant for long term planning, a review and appraisal of the company’s strategies to all the employees concerned is a must to keep them in bay. How many of you do this?Strategies are secrets but not to the employees of your organization. Strategies are born out of compulsion, a compulsion to survive in the market and have an edge over others. So they must be meticulously planned after brain storming sessions and expert consultations. Sometimes even a small idea suggested by one of your employees might turn out to be the most wonderful one and that might click. So keep your eyes and ears open and also be open minded to accept ideas even from the lowest level as they are your pillars of strength and they know the pulse of the market and people better.
Success is not a cake walk, it has to be achieved with great hardships and challenges and the taste of success will be more sweet. Strategies are formulated in every step of your business plan, remember it is an ongoing process, you have to revitalize your strategies every now and to be in the scene, to make your presence felt, to make other people look at you and your success for inspiration. Such strategies serve as a role model for others. Strategy is nothing but an action plan that clicks for you and there is no one best strategy that suits all. You have to find the best strategy that fits your bill and it comes with experience and insight.…

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Business Website

The Real Secret to Business Success

Many people planning to start a business, whether online or a traditional one, are asking, what is the secret to business success? Is it having a solid business plan? Is it employing highly effective marketing and advertising strategy?
Is it employing the best and brightest to be part of your team? No doubt, all of these holds a very important place in ensuring business success.
But there is one principle that precedes all of these.
To succeed in business, you must first and foremost commit to help your clients succeed. In fact, it is your primary duty to help your clients succeed. Everything else is secondary.
This is where good needs analysis comes in. In order to help your clients succeed, you must first know what their needs and goals are. This information can only be obtained by having a good relationship with your clients.
A system must be put in place that will facilitate the communication between you and your customers. Availability is the key. Most of your clients will expect that you will always be available to answer all their questions and address all their concerns. The value of good customer service can never be denied.
Interact with your clients, communicate with them and engage them in conversations. Data between you and your clients should flow both ways. Be sensitive to the needs of your clients and make sure that you are aware of their goals. Commit to help your clients succeed and business success for your company will surely follow.…