In one of my favorite all time business books, Corporate Canaries, the author Gary Sutton has one chapter entitled “You Can’t Outgrow Losses.” This chapter should be a must read for all
Today, all of these individuals may get a reprieve from a forthcoming piece of Federal legislation. Beginning in 2013, all businesses must not only report services using the 1099 form, but also purchases using the 1099 above $500 to a single vendor. This compliance requirement was bundled in the massive Health Care reform bill of which much was unread by those who voted to accept it. And may face repeal given the outrage by businesses who will be facing additional costs just to manage all the accounting and reporting.
The 1099 compliance is just one of many hidden costs of doing business. For example, the
Since many US businesses have less than 25 employees, sometimes they forget to determine the hidden costs of doing business. These costs range from the obvious one of telephone and Internet charges to the not so obvious ones such updating customer databases or tracking inventory or compliance costs. What happens is these business processes become like the chair that has sat in the corner for many years, never being moved because it was always there.
Years ago I read a story about a young woman who asked her mother why did they cut the ends off the roast. The mother responded because that is how your grandmother cooked the roast. To satisfy her curiosity, the daughter asked her grandmother why the ends of the roast were cut off. Grandmother quickly responded with “To fit into the only roasting pan I had at the time.”
Awareness, as with the granddaughter, is part of doing business and helps to find all those hidden costs. Then a continuous improvement plan can be implemented to maintain or better yet reduce those costs which are much like a dripping faucet draining those much desired profit dollars.
Business is much more than the ever present goal to increase sales. Both factors of the business formula revenue less costs equal profits must be continually examined. By knowing the hidden costs can help you truly Be the Red Jacket in the marketplace.
There are many self-proclaimed “gurus” out there that claim you do not need much money to start off your internet career. This often leads new marketers into believing they can make a fortune online with only a twenty dollar investment into an internet
Of course, there are the “rags to riches” stories to catch your eye, but I have found that the average successful online marketer started with a few thousand dollars to “play” with. Comparatively speaking, this is a very low amount to invest in your business, whether it’s located online or in a more tangible brick and mortar building.
The average cost to start a brick and mortar business like a small espresso and coffee shop will cost in the upwards of $15,000 for the equipment alone. If you find the right online business you will spend anywhere from $800 to $2000.
Yes, you can make some money working 8 – 12 hours a day with a coffee shop but imagine making huge amounts of money 24 hours a day on autopilot.
You have probably heard the old cliché it takes money to make money. Well I have found in my experience that this statement can be both true and false in internet
Let me show you:
The only ways to invest in your business with Money and Time.
Here are a few ways to invest:
Your Money – Here dollars and cents is how you will build your business.
o Pay Per Click – Buying keywords that people searching the internet type in when they are looking for a solution to something. You can expect to pay anywhere from a few cents to $2 – $3+ a keyword. Depending on how you set up your campaign you can spend anywhere from $200.00 – $1000+/month.
o Banner Ads – Placing banner ads on web sites that already achieve high rankings in keyword categories that want to target. If a website owner has a good amount of traffic they may charge you anywhere from $150 to $500/mo to place an ad on their site.
o Print Ads – Purchase display ads in magazines and newspapers that target readers in your market. Good sales copy is a must. It is hard to say exactly how much this will cost due to a number of variables. Variables such as the size of ads, circulation, color and location to name a few…
o Classified Ads Under Your Chosen Business Category- Very effective for targeting people who are actively looking for solutions. You can buy classified advertising in bulk through services like nationwide newspapers – or you can buy individual papers on a city by city basis. I recommend purchasing in weekly classifieds rather than daily, you will get longer ad placement for your dollars. Most classifieds charge by number of lines in your ad. A decent range is $2.00 – $5.00/ line.
o Buy Leads – Buy names, phone numbers, and email addresses of people who want to find know about your product or service. There are all sorts of leads to choose from varying from ‘real time’ to aged leads. Results depend on the quality of the lead and your ability to sound like a real person. Depending on the service you can pay anywhere from $100 for 1000 to $30 for 100 leads.
o Direct Mail – Works well but can be expensive. You can obtain leads and use direct mail as a follow up. Your production and sales copy is critical. With companies like Adswift you can print and mail postcards for as little as .49/card. To get response from a customer it may take at least 5 – 7 contacts by direct mail.
o Billboards – If you have the money and want a person’ undivided attention as they drive to their jobs every morning (and then return every afternoon) you might consider a billboard. Typically, some markets can get you a large billboard on a major artery for $1,000 for 30 days. Rates depend on market size and traffic.
o Radio Advertising – Buy radio spots and have them professionally voiced. It is cheaper to buy times late at night, but buying a ‘day’ package that gives you a bit of every listening period can be good too.
o Cable TV advertising On Listings Channel – Like the radio spots, but this time with TV. You can expect to pay a little more for the commercial you produce, but the cost per spot is typically quite reasonable if you advertise in something like the TV listings that scroll up and down the page.
Your Time – Trading your dollar to invest for time
o Press Releases – You can do unlimited press releases online. Prior to the release of your product or service you can submit a release to several sites getting the buzz out. 2-3 hours
o Blogs – Blogs are frequently updated ‘web journals’ that are maintained by people who specialize in something. Blogs talk about and openly discuss specialized themes like making money online – or stay at home moms online. 1-2 hours
o Article Marketing – In its simplest form, this is advertising where you can write short, unique, relevant articles related to whatever you want to talk about: making money online, how to make money online, the 7 dangers of marketing online, etc. 30mins – 1 hour.
o Forums – On line forums are basically online discussion groups or chat rooms or bulletin boards that have a following with various people. Forums can be a great way to brand yourself as an expert in a subject, or build credibility with people who frequent a particular forum.. The key to success is making a great contribution and building online relationships with the other people who are part of the forum that you join. Takes some time – but can be well worth it 1 – 2 hours
o Video Marketing – Marketing yourself online with video. Have you heard of YouTube? Enough said. 2 – 3 hours
o Free Online Classifieds – There are a ton of free online classified areas on the internet. Typically, you get what you pay for. You have to post in a lot of them to get any kind of result. 2-3 hours
o Craig’s List – Craig’s list is a network of online urban communities featuring free online classified advertisement in a endless number of areas including jobs offers and biz ops. There are classifieds from several hundred cities on Craig’s List worldwide. It has been said that they get about 9 billion page views each month – and about 25 million Americans use it each month. You can target by area or by city. 2 – 3 hours.
o Squidoo – Squidoo is kind of like a wiki, only when you create a page (called a lens) you are the only one who can edit it.Then you split the profits from the money made by that page . You can use it to create almost any kind of page. 1 – 2 hours
Whether you are looking to propel you
1. Cross-over into new markets.
As a savvy business owner you may have already identified your ideal client and have built a following within your chose market. Once you have established yourself in your niche it is critical to continued success to find other prospects in cross-over markets. This doesn’t mean “sell to the masses.” Instead you must look for other sub-markets in larger markets that mirror your chosen niche.
As an example, say you currently offer specialized scheduling software to warehousing clients for managing incoming over the road shipments. What other markets would benefit from your product or service? How about cattle ranchers selling and buying cattle in large quantities and from many different organizations? What about an auctioneer looking to manage inventories from estate and bank sales? You get the idea, brainstorm other markets that would benefit from the core value your product or service delivers. You may have to tweak for some minor nuances but there should still be consistency within your core product or service offering.
2. Introduce an upgraded “new and improved” version of a previously successful offering.
Don’t reinvent yourself completely when often a simple make-over will do. As your product or service finds a home with a growing number of clients, look for ways to make it better and deliver continued value. Often times the investment in the product innovations won’t be nearly as costly as the original R&D associated with the first product offering. This will offer you the ability to market new features, enhancements, and benefits to existing clients while offering them an upgrade at a reduced price. Given you have less of an investment in the newer version it becomes a win – win for both. You are able to offer continued value at a reduced price to existing clients.
3. Seek out joint-venture marketing opportunities.
Look for strategic alliances among businesses that offer products or services to your target market. For instance, if you own the market for high-end salon services in your geographic region, look for other partners who service the same niche. An example may include the upscale florist down the road. Joint venture with them and share marketing efforts between the organizations as you are sure to service clients exclusive to each other yet interested in similar services.
4. Partner with your competition.
Though this sounds counter-productive, partnering with your largest competitor can often be a win-win proposition for both. In spite of your similarities there are often key differences that set you apart from your key competitor. Look for off-setting and complementing competencies and work out a solid agreement benefiting both parties in a cross marketing strategy. Obviously there has to be an equal benefit to both parties, but if researched and handled correctly the benefits can be huge for both parties involved.
5. Invest in productivity.
As your business builds momentum look to capitalize on improving on your current production and operations. It is easy to get complacent with current processes when things are going smoothly, but often times investments in capital improvements will yield higher margins and increased profits. Don’t lose out on internal profit opportunities just because things are going well. Many business will wait until the markets begin to recede before looking for ways to improve efficiency and cut costs. Be proactive and manage your business during boom times as if it were a bust and your profitability and momentum will drastically improve.
New technologies and tools have opened up worlds of opportunity that make it easier and cheaper than ever before to start a
- Taking paid surveys.
- Getting paid to watch movie trailers.
- Selling products as an affiliate.
- Selling products on eBay.
In fact now days you are not restricted to only one form of making money online, the more income streams a person has, the more successful you will be.
What Tools are required
Any lap- top or home computer, it does not even have to be a top of the range model either.
An Internet connection, preferable with broadband, but dial up will work as well.
You can start Making Money Online with as little $50 a month.
The following steps are what is required if you are willing to start your own best
- Choose a suitable domain name.
- Set up a hosting account.
- Design your web site or get a ready made Web Site.
- Put it all online.
- Optimise and test your web site.
What happens if you cannot afford $50
Well that is not a problem either, because this must be the only business in the world where its possible to start your own
- Start selling on eBay
- Start a Blog.
- Have a Squidoo Lens
- Have a HubPage
What happens if you don’t have anything to sell.
Well that is not a problem either, in-fact even if you don’t have a product, don’t have a website or domain name, you can still make money online with your best
This is achieved with Affiliate marketing, there is hundred of products to sell in thousands of different markets, just have a look at the following vendors;
- Commission Junction
As you can see, making money online with a
You can start up a
People all over the world are getting busier and with the pressure to hold down a job in the face of a recession, commuting through heavy traffic and the constant need to update work-related skills, many people just don’t have time for things like housework, shopping and cooking. So, if you like these jobs, you could be in business fast.
Of course, tasks like this will mean you have to run a local business, rather than an internet business. but you can still set up a website to advertise and perhaps you can provide tips to help people get better organized.
There are plenty of more enjoyable things which people will pay you to do for them. So don’t despair if you hate housework.
If you like kids, there are plenty of ways in which you can earn money. Many parents are extremely concerned about standards in schools and will gladly pay for someone to tutor their child in a subject in which they are falling behind.
And working parents need to know their kids are happy and safe after school and during holidays. So if you can organize an after school club or vacation activities you could do very well.
Unusual activities which keep children occupied and add enrichment to their lives will be particularly popular.
If you like animals, you could look after them when their owners are on holiday or walk dogs when owners are at work. If a pet is ill, the owner may need someone to keep an eye on it or take it to the vet.
And you could combine pet sitting with house sitting. Many security conscious individuals feel a lot happier if someone is living in their home when they are away and if they have pets, this is a good solution for them too.
With all jobs involving other people’s property and especially their children, you will need to check the local regulations before setting up a business. These will vary from place to place and different rules will apply when you look after children in your own home.
A new year means new money, especially for those who are seeking to earn an income online. This year promises to be very lucrative because the internet is expanding and offers us many avenues to make money. Here are just some work at
Other work at
In our recent downturn of the economy, people today are more open than ever to starting their own
Today there are more opportunities to create fortunes from home than ever before. If you are the type of person that watches mainstream news, then these news will shock you! Here are the top 3 best
Oh no he didn’t! Yes I did! Although telemarketers have a bad rep there are companies who are growing even stronger in this economy selling coaching programs. And we are talking $5K to $10k packages! I have a local friend who owns THE largest telemarketing floor in town. He currently employs over 200 people and some of them are making six figures a year. He even allows people to work from home if they are self motivators. The only thing you need is a phone with unlimited long distance, a script, a batch of leads and you’re in business! Do some research in your town, you may find a company who will do the same for you.
#2. Wheel And Deal On Craigslist.org
I know of many people who are making some real good money from home finding treasures on Craigslist. What they do is go to the “free” section and sort through things that are still in good shape. Then after they pick up the free stuff they clean it real good, then SELL it on Craiglist! I know to some it might be unethical, but hey it’s the American way right?
#3. Affiliate Marketing
Yes, we all have heard of affiliate marketing. We all have tried and failed. But you know what, affiliate marketing is hands down THE best way to make REAL money from home. You find products that interest you. You partner up with the company (most cases for free). You promote their products through different mediums, and collect a nice check for it! Yes you need to advertise. Yes it may take an investment to advertise. But there are numerous ways to advertise for FREE as well. Affiliate marketing has been, and will remain the best way to make a fortune. You don’t need products, you don’t need capital to start, and you don’t need any skill. All you need is motivation, and daily action. Most affiliate programs provide you with banners, sample ads, tools, and pretty much everything you need to start. Only thing they don’t provide you with is a computer, and anti-couch potato serum!
Thank you for reading! If you enjoyed it please comment and rate my article. Thanks in advanced!
What’s the “Breakfast of Champions”? Which cereal comes in a bright yellow box? Which company is associated with “Just Do It”? Cocoa Puffs cereal is aimed at what type of customer? Which car claims to be “the ultimate driving machine”? Which company is associated with golden arches?
As a customer or prospective customer, you have a certain perception or impression of all of these companies based upon their slogans or tagline, their unique selling proposition, their colors, their logo, their niche client, their benefit, their values, and their company name. All of these things make up a company’s brand.
Example: Spotlight Home Staging
Your company tagline or slogan should be a catchy phrase that shows some benefit and forms an emotional connection with your buyer.
Example: Giving Your Home a Selling Role
Your company logo is the face of your brand. It is a sign, symbol, or stylized writing that identifies your company.
Example: Using Spotlight Home Staging with a spotlight shining on it.
Your unique selling proposition differentiates you from your competition.
Example: Spotlight Home Staging specializes in selling homes for customers who also need downsizing and move-in services.
Your niche client is the customer who needs your services and will pay for them.
Example: Spotlight Home Staging caters to active adults 55+ who are empty-nesters and downsizing.
Your benefit is why your customers should hire you. What’s in it for them?
Example: Spotlight Home Staging can take away all of those sleepless nights worrying about selling your home. Our staged homes sell quickly and for top dollar.
Probably the biggest mistake
Your values are the characteristics that make working with you a great experience. What do you want your customers to think of you?
Example: Spotlight Home Staging is dependable, professional, honest, knowledgeable, and dedicated to getting my home sold quickly and profitably.
Your brand is the core of your marketing. You can’t start networking, or sending out marketing materials, or developing a website until you have your brand in place.
Truthfully, there are so many
Using the Internet.
The internet has been around for well over 15 years but it is still a reasonably untapped resource when it comes to marketing your business.
But hold on a minute!
If your thinking you can’t be one of the 10% of
I mean think about it, nowadays when people want to do research and find out information about something or more importantly, an mlm business opportunity, they don’t wait for a flyer to land in their letter box or check all the pull-tabs on their local notice board or wait for a family member to join with a company and hope that they get asked to join. No. They head straight to the internet and do their due diligence.
And that is where they will find you, happily waiting to sign them up.
It really can be that simple once you know what you’re doing. Especially with all the different ways that you can use free websites to your advantage…
Sites like Facebook, Twitter, MySpace, YouTube and other video sites, Ezine and other article sites, forum sites and that’s just to name a few.
For Individuals who are fully motivated and business minded, establishing their own business or venture is one of the main options that they can make use of in order to become prosperous in life. There are several types of business upon which one can establish. There are those which offer services such as home cleaning services, car rentals, and many more while there are also those who prefer to sell products and other types of goods. Well, whatever type of
In today’s world, making your way through the business era is not that easy. The business world is a big area for competition therefore before you even think of opening a venture; you have to make sure that you are fully loaded with all the different types of strategies and other essential issues with regards to business. Start with a
Another thing that you can do especially if you lack the experience upon managing a business is hire a business development team. By employing professionals, you can avail of such benefits for your business such as business mentoring, business coaching, and many more. You can find a lot of these companies through the internet.
To sum everything up, owning and managing a business can be really tough for you especially if you are new to the competition. However, with great practice, skills, knowledge, and observation, you can be assured that bit-by-bit; your business would slowly grow and become successful. Also, you should never go in a hurry. Patience is very important because it is a natural fact that your first try would not end up the way you expect it to be. Just keep on trying new ways upon how to market your business.