Failing to Plan Your Business Financing Can Be a Death Sentence for Your Business

 Taken From (http://www.articlecircle.com)

Most businesses start out thinking the first thing they need is a great business plan. The popular myth is that potential lenders will place great stock in your business plan as a major consideration for approving the financing you need.

While a well written business plan will assist you when you are seeking financing, it is far down on the lenders list behind things such as your business management teams experience, your past business successes and your lending character. Having a plan for accessing the business capital you need to execute your business plan is what is required to bring your business success. Not having a viable business financing plan is the direct cause of why 90% of all new businesses fail.

Your lending character means the lender sees you having the ability and stability to repay the loan. They also ask how far they believe you can take the business to maximize the potential earnings and therefore their chances of getting repaid.

The first thing a lender is going to look at is how did you structure the business and were you responsible and knowledgeable in that. Are you Incorporated or an L L C? If not you are declined for a business loan and everything becomes based solely on you as an individual. Did you do your E I N, State, business licenses and bank filings correctly? If not, you are declined because a lender requires attention to detail.

A simple business credit report check by a lender will quickly show whether or not you are even in the ballpark for getting approved for financing. If the lender finds that you have not bothered to insure that your business has active reports with all three major business credit reporting agencies, then of course you are immediately declined.

Next, the lender will look at the character of your business credit reports. What do they say about your business? What kind of payment histories have you had with debts that are easy to get such as vendor trade lines, small business credit cards, equipment leases, etc? If your business has no credit history or very minimal history then no lender will even consider your business for a larger loan when you have no track record of paying smaller debts.

If you pass these simple tests, now a lender will get to the heart of you business loan application and it is only at this point that you even get the opportunity to present your funding request. Unfortunately as high as 90 percent of all business loan applications never get to this point, because most business owners never take the time to complete the initial steps.

So you have made it this far, The next question you need to ask is what is a lender going to want to see? Debt service! Here is where the lender finally looks at your business plan, or at least the financial pat of it, to determine if your business can debt service the loan. To make this determination a lender will test the reality of your numbers. Basically this means do your numbers add up and do they make sense.

If you do not know anything about accounting you had better get help. When a lender looks at your projected financial statement and finds simple accounting errors, then in most cases you will again be declined. They do not want to lend money to someone who cannot produce a simple proof and loss statement; or someone that cannot balance a balance sheet. There is a lot of help out there, get some.

Next, a lender will look at the market niche section of your business plan. While most business owners think that this is the place that sets them apart from the competition, it actually is the part where lenders will compare you to your competition. Here is where lenders must see that you have done you market research. Can the revenue claims that you are making in your financial projections be backed up by the actual market demographics for your specific business industry, location, customer base, etc.? It essentially comes down to the need for your product or service.

All of this can seem overwhelming and in truth it can be. It is the reason that 97 percent of all business loan applications get declined. The overriding reason is that business owners are not taught this in school and typically only gain this knowledge through years of brutal experience that normally includes having one or two failed businesses under their belts.

This will give you plenty of information to get you started on putting together a business funding request.

Top 5 Online Money Making Tips

 Taken From (http://www.moneytips4me.com)

In computer age people have devised new ways to earn money which has become full time profession for many people who are working very hard to generate business on a sustained basis. There has been a huge proliferation of websites and this in turn has led to events that offer handsome opportunities for entrepreneurs to earn money online. Some of the Top 5 Online Money Making Tips have become very famous in internet space because with little knowledge you can create millions out of nothing.

Writing:

• There has been an explosive growth in online space in recent past. As a matter of fact many individuals and organizations are joining virtual space every day and there are billions of addresses that are currently floating on internet.
• In retrospect it has a huge business potential and you can do your bit to earn money by expressing views on different events or area of your choice. There are different field like sports, politics, art, and culture that continuously attract people and they are quite eager to have latest updates about them. It would be a blessing in disguise that will help you to gain a useful insight into revenue methodology of your website.

Affiliate Marketing:

• It is considered to be one of the most prominent among Top 5 Online Money Making Tips currently popular in internet space. You can market product of different websites from your own web link which would generate lots of revenues.
• In modern era many companies try to sell their goods by increasing visibility however it is not possible in a short span of time therefore they rely on affiliate marketing to boost traffic to their website. Using different techniques on some of the most popular search engines you can identify and promote traffic through your site by providing links.

Social websites:

• There are many new sites which want to promote themselves in virtual space. To identify and increase their membership they run unique programs like referral scheme wherein if you become a member and you also persuade your friend to create an account you would be rewarded with cash.
• In addition you can make your profile more interesting by writing genuine and informative contents that would help you to generate more revenue.

Online trading:

• It is most common and does not require additional skills. You can buy or sell products as well as services on internet. People are increasingly using online methods to perform different tasks that would help users to concentrate more on financial aspects of the deal and in process earn good money.
• If you have goods or you are an expert in fixing hardware or software problems you can advertise about it on internet which would increase your customer base and online revenue. It is important to maintain quality of product because if it’s shoddy it might lead a bad user experience and loss of business.

Online activities:

• In this competitive world when companies are jostling with each other for market space surveys are done on a regular basis to have an approximate idea of money it will generate. Many companies offer cash to their customers for mentioning their requirements and feed backs about a certain product.

How To Increase Your Profits Through Branding

 TAKEN FROM (http://www.infoproductcreator.com)

Have you ever noticed that in any given market there are
names you hear over and over again?

They appear on discussion groups, email lists, online
newsletters, web pages, reviews, other people's products,
and in a variety of other publicity venues.

What you really want to know is how do you become a
winning "brand" in your given market.

You may be amazed to know that the secrets of how to reach
"expert" status in your given field are really quite basic.
These powerful tips applied constantly, consistently with
focus will help you get the advantages branding will bring.

TIP 1 Do Something You Are Passionate About. Passion,
experience and dedication are the 3 key ingredients leading
to "expert" status. Make sure you are doing what you truly
desire and the branding will come.

TIP 2 Do something you have or can gain experience with
very quickly. Most people who operate and provide advice
in their markets don't have direct experience. Get your
hands dirty doing what you love and your experiences will
shine through.

TIP 3 Give back more than you get. Set time away every
day to help people out on public discussion boards,
teleseminars, web seminars, through free information, e-
courses. Your level of awareness in your market will
heavily depend on the amount of useful, detailed, and
highly relevant information you release.

TIP 4 Stick With It. Contrary to popular belief, the
benefits of branding in your market will take time. People
look up to others who have stuck with their dreams through
good times and bad.

TIP 5 Values and Ethics. Set the bar high and far fewer
people will make it to the other side. Giving up short
term opportunities, revenues and prestige in favor of your
longer term reputation will always pay off in the long run.
You will notice that anyy of the "experts" in your market
shun controversy, usually always try to take the hight road
and protect their reputation as if it were their last drop
of water in the desert.

TIP 6 Develop Your Own 30-second commercial and include it
everywhere. Your 30-second commercial must include the
single most compelling benefit about your product or
service. Include it in every email, business conversation,
discussion forum posting, business card, free article and
any communication you have.

TIP 7 Create your own technology. Make it easy for your
market to remember you. Create your own solution system.
While you may repeat steps used by others in your market,
differentiate yourself by labelling your specific approach
to your problem space.

Do you have a branding plan? Are you climbing the ladder
to "expert" status?

Every market is looking for leaders, you simply have to
follow the steps to get there.

Internet Marketing Strategies

 Taken From (http://www.businessfreearticles.com)

Finding Your Path Through the Internet Marketing Jungle

Trying to decide how to strategically market your service or product (or yourself) online can be overwhelming. There are a myriad of marketing possibilities to choose from, and more great strategies are being offered almost daily. How can an internet marketer decide on the best strategic marketing plan that works for their business?

There seems to be as many answers for which strategies to use in what situation than there are internet marketing strategies themselves! There are definitely too many strategies for any one marketer to utilize them all. If you have a very large team with access to multiple internet marketing specialists, your marketing strategies can incorporate most available methods. However, most of us do not have access to that kind of resource.

How Do You Choose Your Internet Marketing Strategies?

There are too many internet marketing options to discuss them all in a short article, but there are three general principles that can make a huge difference to your marketing efforts. Following these principles will not just improve the success of your current internet marketing plan, but can help you figure out where to start focusing your efforts in the first place.

Three Principles for Making Appropriate Strategic Marketing Choices

1) Be Capable in your Strategic Marketing

Not all marketers are created equal. We all have a variety of strengths and weaknesses. Unfortunately we tend to focus more on how to fix our weaknesses rather than how to harness our strengths. It is true we should all strive to improve ourselves, but sometimes the time and effort placed on learning the internet marketing strategies we are struggling with would be better placed finding and perfecting strategies that we already have an aptitude for.

When a strategy works well for the majority of marketers it does not necessarily mean it will work well for you. If a particular strategy does not come easily to you, it will take more time and will likely not generate the top quality you need to stand out against your competitors. If you are not adept at something, use a different strategy that you can implement effectively with the unique capabilities you do have, or make the investment to outsource if you have the means to do so.

This does not mean we should not learn new strategies! If you are not constantly learning, you will also not succeed. Make sure you are not perpetually spending more time learning something that is difficult for you than you are taking to actually market your product or service. Some great internet marketing strategies are better left for others who have a better aptitude for them. Their expertise will allow them to do it better than you anyway.

2) Care About your Strategic Marketing

Let’s face it; everything we do in marketing is not fun. It is work, and most definitions of work do not include the word ‘fun’. However…take a second and think about sitting in front of your computer to work on your latest marketing project. If you would rather be sitting in the dentist’s chair getting a couple of teeth pulled, you are spending your time with the wrong strategies. Work can actually be enjoyable. At the very least, you should be able to find a few good strategies that beat getting teeth pulled. There are many strategic marketing choices on the internet. Pick the ones you enjoy and care about.

“But my current marketing strategies are supposed to be the best for my product!” “My upline says this strategy has been working for everyone on the team!” If you hate what you are doing, it will show in your work, just as your passion will shine through when you are doing something you love. It will be difficult to put in extra hours when necessary, you will be more apt to give up prematurely, and you will be unable to do exceptional stand-out work if you hate every minute of it.

Start by learning the marketing strategies you are most interested in, see which ones you like, and master those first. Eventually learn them all so you can find which methodologies you most enjoy and are best at. These will be the marketing strategies that perform the best for you and are more sustainable in the long run.

3) Be Consistent with your Strategic Marketing

For many marketers, the strategy seems to be: ‘Chase the latest and greatest marketing options as soon as they appear.’ They work on something, get mediocre results, then three weeks later when a great new idea comes along, abandon their current efforts and ‘try’ something else. This is not a recipe for sustainable success.

Sometimes the latest hot new marketing trend can work wonders and inject a lot of cash into your business. New ideas should be taken advantage of when appropriate. However, if it’s new it is unproven and may fail. Has it been tested in your niche market? Will it still be working a week from now? If you change your marketing plan more often than you change your socks, you will never get really good at anything. You will be spending as much time learning new things as you do actually marketing your product or service.

Consistency is the key. If your strategic marketing plan is based on solid and proven strategies and you do not give up and start something new every couple weeks, you will become an expert in those strategies. They will get easier, less time consuming, and start running like clockwork to bring you a consistent stream of clients. It is easier and less risky to learn and test new methods when you have a proven and profitable system already in place to fall back on.

Points for Choosing the Right Internet Marketing Strategy

- Develop a good strategic base of internet marketing methods that you enjoy and are capable of implementing effectively.

- Be consistent with these marketing strategies so you become an expert and are profiting from them with minimal effort.

- Try almost everything, including the ‘hot’ new methods that look like they have potential, but don’t abandon the tried and true methods that have already been proven to work.

- If you find new marketing methods that you enjoy and can utilize effectively, add them to your long tern internet marketing strategy and use them consistently until you master them.

Follow these steps, be patient and consistent, and you will succeed in finding your own strategic path through the internet marketing jungle. Happy Marketing!

What is an Effective Internet Marketing Strategy?

 Taken From (http://www.freemarketingzone.com/)
If you’re still struggling to finally reach your financial independence & make a nice living from your home, then listen... The only reason why you’re failing is because you don’t have a good website marketing strategy.

If you ask any successful offline world entrepreneur how it’s possible to build a great business without a proper strategy, he’ll start laughing. But many internet marketing experts are trying to make money without even realizing what on earth they’re doing online…

If you believe that you can jump in, create a website, submit it to a few directories or blogs, sit down, relax & watch those thousands of dollars (that you’ve seen in many marketers’ checks) to come, then you need to stop right there. It ain’t gonna happen. You need to think: who you are and where do you want to be in the future. Whether offline or online, there are only two things that matter: “Buying” and “Selling”. Basically, to simplify, it all comes down to this:

Who is your customer?
What is he or she specifically looking for? You must know their problems or desires. You must be in their shoes and find out what is that would make them feel better (an offer).

What is your offer?
Why should they buy from you? How come you’re better than the rest? Why should they trust you? Are you offering your own or someone else’s product? How will you create an irresistible offer so they beg you to sell it to them?

Think about it… There are millions of people buying online every single day. If they’re not buying from you then whose fault is that - theirs or yours?

Before you even start creating internet marketing strategy for your website(s), you need to do a research. That’s where it all begins actually. Just like in any business, you have to understand where you are and what can you do.

#1 Phase - Online Research

In this phase, you must research your market. Who are your main competitors? What are they doing online? PPC, SEO, press releases, develop their own products, do affiliate marketing or Adsense? What are their weaknesses? Do they offer a guarantee? Is their product really good? Do they build links constantly or not?

Who is your favourite customer? Where do they hangout: MySpace or YouTube? Are they freebie seekers or desperate buyers? What forces them to buy one or another product? Read reviews, forums, testimonials to find out as much as you can about your target market.

#2 Phase – Data Analysis

If you’ve performed a thorough online market research, it’s time to systematize the data you have. Write down what are the main strengths and weaknesses of your competitors. Maybe you have more time than your competitors? Or maybe you know some targeted traffic source that others don’t. How might this affect your business?

Which are the places your target market usually visits? What are their main concerns? Maybe they’re not satisfied with the products in the market. Can offer something better, maybe in a form of a bonus? After that, you come to the next step, which is developing your internet marketing strategy.

#3 Phase – Strategy Development

When you already know your target market and your competitors, you are able to start creating your internet marketing strategy (or strategies). Just sit down and think about: who you are and what you can offer to the target market.

It involves a little bit of planning. What marketing methods you’ll use and which ones you can afford? PPC, SEO, email, blogging, podcasting, video blogging, webinars, viral traffic generation, link building, banner exchange or others…? You must prioritize your web marketing tactics. Find out what’s going to bring you positive ROI in the shortest time possible.

Do you have enough time to perform search engine optimization? If so, then sit and do everything you can, day in day out, to rank at the top in search engines. Don’t have time? Then buy PPC traffic and start testing your landing pages effectively. Or buy resell rights to products and sell them on ClickBank with the help of JV partners.

Don’t have time AND money? Then you better get one or another, otherwise you’re dead.

Seriously, you must find ways to get time or money. You need to think about how you can exploit other people’s time and money to build your own web business. That’s what rich people do and that’s what you must do if you want to survive in this competitive world.

#4 Phase – Monitoring Performance

When you have an internet marketing plan, you can start implementing it right away. The last step is to start monitoring your internet marketing campaigns. Which keywords people typed into search engines to find your site? Which keywords brought you the most money in PPC marketing? Are you satisfied with your SEO rankings or not? Do majority of your visitors leave your site without even spending 30 seconds? And so on…

Only with the help of close monitoring you can discover what works and what doesn’t. Testing landing pages, testing Adwords ads against each other (A/B split testing) can show you some amazing results. And remember – you never know for sure until you TEST it!

B2B Social Media Lead Generation: 5 Opportunities Meet 5 Challenges

Taken from(http://www.ck-blog.com

It’s a great subject, and an important one for B2Bs who must generate, qualify and close business leads so as to ensure the viability of their companies. And it got me thinking… and inspired this post.

I’m going to run down what I see as the 5 biggest opportunities and 5 biggest challenges for B2B lead generation in a 2.0 world. And then I’d love to know your thoughts. Tell me what I’ve missed or mistaken; after all, we’re here to learn from one another.

Biggest Opportunities:
Through Web 2.0 technologies there are tremendous opportunities for Lead Generation, namely:

#1: A great “leveler.” Through social media, small and medium-sized businesses can now afford the same media used by big companies, so this opens an affordable, effective lead-generation channel for SMBs. But, that being said, all companies need to understand that what they save in dollars they trade-off in time as these media need constant attention and new content. No autopilot here.

#2: Building relationships that beget revenues. Through two-way communications tools that facilitate knowledge sharing, professional networking, and problem solving, companies can leverage social media to build strong relationships–and relationships will always be core to B2B lead generation efforts. And then B2Bs can grow those relationships into revenues for their organizations.

#3: Efficient way to create leads… who in turn, create more leads. By building relationships with prospects and customers, companies also increase the chance that their target audiences will use these tools to spread/amplify favorable online word-of-mouth (WOM) about their brands. Online WOM is especially critical given that buyers are avidly using social media to research feedback from other professionals before making purchases. And where offline WOM can reach 10 people, online WOM can reach 10,000.

#4: Influencing purchasing decisions. When making purchases, professionals have always relied on third-party feedback and that has not changed—but the *way* that professionals conduct their pre-purchasing research and *who* influences their decisions has undergone dramatic transformation. In the past, customers looked for product feedback from press and analysts as well as professionals that they knew, but now they take to the Web and seek online opinions shared from other professionals, who they may not know yet, before they make purchases… and that feedback significantly influences their purchasing decisions. This changes the way that business is done because now we have new voices in the business process–and for companies who are delivering great offerings and experiences, this is a huge opportunity. (You’ll see how this is also a challenge for companies as I discuss in the next section.)
#5: Increasing Reach. Through social media and the social web, companies now have access to a world of new markets and new customers. And while many companies might not be able to increase their physical footprint due to prohibitive costs, they can afford to increase their digital footprint and reach new markets in new regions.

Biggest Challenges:
And the major challenges for B2B companies transitioning to Web 2.0 technologies for Lead Generation entail:

BusinessPeopleWalking #1: Learning how to use these tools well (and as a support to strategy–not before it!). Far too many companies are placing tools ahead of strategy, it’s the darndest thing. All they know is that they “Need to be on Facebook… STAT!” but don’t have clearly defined goals or a differentiated strategy for so doing. Here’s the irony: With social media, the tools are simple, but the complex, customer-led online landscape is wholly complex and companies face a great challenge in learning the new practices and new rules. Net net: it’s critical that companies set a strong strategy and learn the new rules and practices of the social web before they start implementing programs—otherwise they sink instead of soar.

#2: Signal vs. Noise: How to stand out from the clutter. When every company can afford these new media (a huge opportunity), the challenge is how to stand out from the crowd, or produce the highest signal amidst the noise. This speaks to strategy, differentiation, understanding one’s audience and grasping how to communicate with prospects.

#3: Providing value BEFORE the sale. Marketers have to learn how to extend value to online communities before they work to extract value from them. In “old world” marketing, the value was provided in buying the product but now marketers’ online programs need to create distinct-but-complementary value in addition to the product’s value.

#4: Learning how to “sell without selling.” Companies have to learn a two-way, conversation-oriented exchange rather than the one-way perfectly worded sales pitch that they’ve become accustomed to delivering for decades. To be sure, it’s a learning curve but in pays in spades.

#5: Letting go of control over brands. Customers can now publicly voice their opinions and experiences (be those opinions positive or negative), so companies have to understand that all of their messaging and branding will no longer be in their full control. In sum, companies who are (1) ensuring high product quality + (2) providing superior customer service + (3) promoting true product claims (not inflating or deceiving their customer audiences) will do remarkably well. But companies who are not delivering on these 3 fronts will face tremendous challenges–because their customers will publicly set the record straight. (This is what I call the “New Transparency.”). All of the 3 areas I’ve outlined are, however, within the company’s full control.
T/cks_blog/2009/12/b2b-social-media-lead-generation-5-opportunities-and-5-challenges.html)

Effective Ways of Marketing Your Own Online Business

Taken From (http://marketing.bestmanagementarticles.com)

Good for you, you have decided to open up a home business. Who knew that you could actually get it started and that you would be able to follow through with it well you have! Give yourself a pat on the back, and take a breather. But only a quick one, because one you have started up a home business, the hard part is not anywhere near finished.

As soon as you have started up your home business, you need to begin to market it. This is something that you might not have even thought of, but it is something that needs to be done right away because this is where you are going to get your key clients from. Remember that this is not as hard as you might think it is.

In fact, marketing your home business can be a snap, if you follow some key ideas. You need to determine who your key audience is. Are you going to be marketing to kids, to adults, or to another age bracket? Are you going to market more to men or women or both? Is there anything else about your clientele that separates them from the world at large?

Once you have decided who you are going to be targeting, you can begin to market. There are several ways to do this. If your business is based in a large city or somewhere that has a lot of traffic, you can do other kinds or marketing like flyers, signs, and other print media.

However, if you are running a business that is mostly online, and you hope that most of your clients will come from the internet, there are several things that you should do to make sure that marketing is a success. First of all, you should place adds on web pages that you know will get seen by your key demographic. Find some popular sites for the group of people that you have to target and try to get some advertising on those sites.

Also look for pages that everyone will see, and try to get as many links out there as possible that have your name and your businesses name on them. You are also going to want to make sure that you are posting blogs and other articles all over the internet that somehow relate back to you.

Get your name out there, do some surfing of your own. If you are in a certain type of business, go to some boards that deal with that business, and post on them with your internet address in your signature. The more advertising that you can do, the more people are going to see your website and hopefully click on the link to visit your page.

Advertising your home base internet business is not as hard as it sounds. As a matter of fact, more and more savvy methods of advertising are cropping up that help entrepreneurs to not only get the word out about their home base internet business, but to provide useful services to the community while doing so. Sure, in the early days of internet marketing it was customary to design banner ads that were full of neon colors and moving characters.

Webmasters soon discovered that customers did not appreciate this kind of advertising and soon eliminated much of it from their pages. This left those with a home base internet business scrambling for new solutions. While banner ads are still around, they have undergone a great change.

They are now tastefully designed with an eye to wittiness rather than shock value. Additionally, generous affiliate programs ensure that many webmasters are once again working hard to spread the word of any home base internet business that is willing to share a bit of the profit.

Yet there are also other modes of advertising your home base internet business within your own community. For example, if you own a doggie biscuit business that relies on internet orders, why not pass out fliers in your community with the web address? Additionally, you will be able to attend pet shows and spread the word there.

Print ads in major dog fancier magazines will target an audience most likely to purchase your product, while sponsorship of local events such as toy drives during the holidays will not only benefit your community but also your business! If you have a family that is very supportive of your efforts, you may even get the kids involved a little dress up fun in a nice costume is a definite perk handing out samples of your doggie biscuits.

Business success: 5 ingredients you'll absolutely need for success

For any entrepreneur starting up in business, there are five ingredients needed for success:



1. An idea for a product or service that customers are willing to buy at a sufficiently high price to allow for a big margin above cost.

Whether the idea is original, borrowed, or bought, the idea is the heart of any business through all stages of its life. If there is no idea, there is no business.

The idea is what will keep you fired up, and give you pride. Plus, the idea is the most fun part of business. So go with an idea you can get excited about.

2. The ability to provide the product or service.

Is it possible for you perform the service or provide the product to a high enough standard so that you can get return business and referrals to new clients?

Make sure you get the relevant education and experience in the same industry as your intended enterprise.

Research your product or service and benchmark the competition to see how they do it and how you can do it better.

3. Personal contacts for acquiring information and other resources.

Networking is an essential skill for most business people, but especially for entrepreneurs. The strong association between the entrepreneur as a person and his or her business, demands entrepreneurs get out into the world and create and maintian business relationships.

Active networking and participation in network partnerships can help you meet people and build mutually beneficial business relationships.

For a start-up or small business, networking can provide a lifeline of support and help generate business for your company through benefits such as:

benchmarking opportunities against competitors and similar-sized businesses
comparing and discussing issues of common interest, for example supply networks, customer service and legal and regulatory developments.
developing ideas, innovation and knowledge of best practice.
rasing your business profile by becoming an established networking member.
expanding markets by generating business contacts such as customers, suppliers and partners.
overseas partnerships, through international exhibitions and conferences.

4. Money to keep the business going during the start-up phase.

Don't think you'll start making money right away. What do you do till the cash starts flowing? And where can you get the upfront money your startup will need?

A possible source of money is "angels". They are successful entrepreneurs who are willing to risk money in a new venture if it promises a good return. Find rich people in your area and have an excellent business plan ready. This will take time and networking. Another possible source is government funds.

If all sources decline to participate, you have the option of "boot-strapping", which means starting small and growing carefully on the cash flow your business generates.

5. Sufficient customer orders to cover all costs and expenses and to provide a profit.

Ensure there is a demand for your product or service. Try and pick a growing industry, as opposed to one that is crowded with suppliers. Take advantage of major trends. Establish reliable connections with vendors who will be supplying your materials so that you can cope with any increase in demand to your business.

Many entrepreneurs have tried to start businesses without giving enough attention to each of these requirements, their businesses have failed.
Taken From (http://www.freshthinkingbusiness.com/success-ingredients.html)

5 Keys to Capturing Prospective Buyers

Spring has sprung. The birds are singing as they busily build nests and do their mating dances. Yeah, it won't be long before the flowers bloom, and grass starts growing. You know what that means...grass needs mowing. When you parked the riding mower last fall, you knew that it would be a miracle if you could get it through another summer. You're going to need to replace old "Betsy" sooner or later, and start thinking about the features you want the next mower to have.

Well, you haven't tried starting the old mower, but hey, it's raining cats and dogs outside. With nothing better to do, you head for the mall and find yourself among a line of shiny lawn mowers with a wide variety of prices and features. What are the advantages of each one compared to the difference in costs?

Yep, not every customer that walks through your door is ready to make a purchase. Maybe they're still in the "thinking about it" stage. Yeah, when you think long enough, you usually talk yourself into doing it. That's why it's important to treat every customer's question with respect. You never know when a properly answered question will lead to a sale.

Here are some tips to keep in mind for effectively answering customer questions:

1. A Question is the Sign of a Potential Sale.
Yeah, if a customer is taking the time to look you up and ask questions, you're dealing with a high level of interest. Don't take it lightly. A prompt and quick response laced with the added benefits of the product will go a long way toward closing a sale.

2. Make it Easy to Ask A Question.
There's nothing more frustration than having a simple question and having to move heaven and earth to get an answer. Make it easy for your customers to ask questions. Make your website question friendly and include a phone number with all of your sales material.

3. Organize - Set up a Frequently Asked Question File
What questions have you emailed answers to sixteen times this week? Keep a file with those repeat questions. You'll be able to copy and paste the answers into responses. Hey, your customer will be happy and you can spend time doing something else. Everyone wins!

4. Get Back - Quickly
How many times have you shopped around while waiting for someone to get back to you? Yeah, it's easier than ever on the web. Customer attention spans are ever shortening with the vast global competition at their fingertips. Don't dilly dally - get back to them pronto!

5. Make Every Question a Sales Opportunity
When someone asks you a question, you've got their attention! They're waiting for an answer that is important to them. Yeah, it's the perfect opportunity to expand your response to include benefits of the purchase.

Questioning customers wear a badge that says, "Buyer on Board!" Read it and pay attention. Often a little nudge will mean a sale to tally at the day's end. Think of it like this...learning to effectively answer customer questions is a low-cost and effective way to boost your profits this year!
Taken From (http://www.marketingarticlelibrary.com/articlex2.php?code=vb88uw&id=239&act=&submit=Go)

Top 10 Internet Marketing Strategies

Internet marketing can attract more people to your website, increase customers for your business, and enhance branding of your company and products. If you are just beginning your online marketing strategy the top 10 list below will get you started on a plan that has worked for many.

Start with a web promotion plan and an effective web design and development strategy.

Get ranked at the top in major search engines, and practice good Search Optimization Techniques.

Learn to use Email Marketing Effectively.

Dominate your marketing niche with affiliate, reseller, and associate programs.

Request an analysis from an Internet marketing coach or Internet marketing consultant.

Build a responsive opt-in email list.

Publish articles or get listed in news stories.

Write and publish online press releases.

Facilitate and run contests and giveaways via your web site.

Blog and interact with your visitors.

By following the above tips you'll be on your way to creating a concrete internet marketing strategy that could boost your business substantially.
Taken From (http://marketing.about.com/od/internetmarketingstrategy/a/internettips.htm)

Top 14 Benefits of Social Media Marketing

There’s a lot of fuss surrounding social media these days. If you still haven’t jumped on the bandwagon and aren’t sure why so many people are making such a big deal about it, here are 14 benefits of social media for your business and you from Success magazine.

For Business:

Establish a Brand and Raise Awareness

Since the majority of the population is already visiting social media sites like Facebook, Twitter and YouTube, getting your brand name all over those networks can help let people know that you’re around. If you have yet to create a company image online, social networks are the place to do it.

Create a fun YouTube video that entertains and informs. Funny videos tend to make their way around the Internet a lot faster than any other kind, so when making a video, keep in mind that you want it to be interesting enough for your target audience to want to share. Using Facebook and Twitter to create a fun online community that your customers will want to visit will boost brand loyalty and drive traffic to your Website, allowing you the chance to make more online sales.

Spy on the Competition

Follow your competitors on Twitter and Facebook and you’ll be able to see what they have up their sleeve. Just make sure to provide a better deal than whatever they have going on.

Pitch Products in a More Human, Interactive Way

Since people visit social media sites to get personal rather than be bombarded with ads, discuss your business in a fun way and engage your customers with questions. Ask their opinions and entice them to respond back. This way you’re making a valuable connection that will help grow your number of return customers.

Bring Attention to Your Products

Featuring a product on a social media site is one of the fastest ways to bring attention to it. Offer a promotion along with it for your online community members and watch your sales skyrocket.

Increase Customer Loyalty And Trust

Speaking to your customers in a personal way will make them feel like they are talking to a friend, not a company. This will help build their trust in you, which will make them do business with you rather than your competition. It will also improve the chances of customer recommendations.

Listen to Your Customer’s Opinion

Social media sites are an awesome way to see what your target audience is saying about your company or your products. Take their constructive criticism and use it to enhance your product to better meet their needs.

Conduct Market Research

Listen to what your customers say about your products and track what links they click on and you’ll begin to see what your customers like and respond to. People love to express their opinions on social media sites, which will allow you to hear the truth. Then you can use your new-found information to tweak your product or service to please them as well as continue to post more information and links that they will enjoy.

Strengthen Customer Service

Social media networks allow your company to answer your customers’ questions and concerns directly in a timely manner. This will improve customer satisfaction and also save you money on long distance customer service phone calls.

For You:

Build Your Personal Reputation

Social networks allow you to get your name out to the world and talk about things that matter to you. This will help you build a good online reputation, which is critical nowadays if you’re looking for a job or even a new business contact.

Display Your Resume

LinkedIn allows you to display your full resume online for any future employers or recruiters to see. This will help bring you new opportunities that never would have existed otherwise.

Find a Job

Jobs are posted every minute on social networks like LinkedIn and Twitter along with the links or information you need to apply for them.

Showcase Your Talents And Establish Yourself as an Expert

If you’re passionate about a certain subject, whether it’s work-related or a hobby, the Internet is a great place to show off your knowledge. Soon people will be coming to you for the breaking information on that topic, and talking about you to friends.

Enhance Your Business Contacts and Enhance Personal Relationships

Through professional sites like LinkedIn, you can build your number of business contacts and enhance your reputation as an expert in your industry. You can also connect with those long-lost high school and college classmates, old colleagues, and out-of-town family members.

Share Information with Like-Minded People

Connect with other professionals in your field to share information. Where else would you be able to connect with industry professionals across the globe to swap stories and advice?
Taken From (http://www.sitepronews.com/2011/02/13/top-14-benefits-of-social-media-marketing/)

How to Get Customers

Whatever you do, customers are the most essential part of business. From mom-and-pop Web sites to multinational corporations, there would be no businesses if it wasn't for customers. So, how can you get more customers?

Traffic Generation Techniques
Commonly known traffic generating techniques are:

search engine optimization (SEO) and get traffic from search engines,
place online ads all over the net,
use offline advertisements, and
use word of mouth.

The most frequently asked question is "Which method is the best way to get traffic?" The most frequent answer is "SEO gives you the best ROI because search engines send you ready-to-buy customers." When online marketers say that, people tend to put 100% of their efforts into SEO. That's not the best way to get traffic.

Variety
In order to get the most traffic, you need to use many different methods. Almost every commercial Web site uses SEO. What this means is that it will be an arms race when you optimize your site; therefore, there won't be significant differences in the results. Instead of focusing on one only method, try out many different techniques. Even though you may make only a little improvement using one marketing method, the combined improvements from all of your marketing methods will be significant.

Widen the View
Most people simply mimic what their competitors do. If you want to beat your competitors, you need to do something others do not. This doesn't mean you have to re-invent the wheel; you just need to look into totally irrelevant industries, say the movie theater industry, and find a technique they use that is not being used by your competitors. This might seem odd, but you never know how well a looks-totally-irrelevant technique might perform on your Web site until you try it. In fact, the fewer competitors who use the same technique, the bigger your chance of getting ahead. So, when you find a different technique, try it first. Then, based on the conversion rate, decide what to do from there.
Taken From (http://www.thatswise.com/free/lessons/2009/10.html)

Ways To Make Your Employees More Productive

When you are an employer, you always have to be thinking of ways to help your workers stay motivated and productive. Every person knows that coming to work each and every day can become monotonous. When people begin to dread going to work, it’s time for the employer to reassess the situation and figure out how to turn things around. There are some ways that you can work with your employees to help them be more productive.

First of all, you need to have definite goals for your business. If you have big plans and aren’t afraid to dream, your staff members will follow you to the ends of the earth. This is because when leaders dream big, people following behind are inspired to do the same. They begin to think outside the box and work is no longer drudgery, but something to look forward to. As their leader, don’t be afraid to stand up for your goals and ideas.

Another thing you need to do is encourage communication and openness with your employees. Too often, workers are intimidated by their employers and things go unsettled and unresolved. This leaves people feeling restless, depressed and burned out. Instead, open your door so they know you will listen to them and you are truly interested. When they realize that you really care about their opinions, they will share more and you will have a better understanding of their lives as well. This develops relationships that can help a company thrive.

Encourage your employees to work together. Teamwork also promotes morale because no one feels that they are alone. When people realize that their skills are unique and needed for the overall welfare of the company, they will feel wanted and needed. This will improve motivation and productivity very quickly.

You can also help your employees be more productive by implementing the technology to improve their work performance. For example, with mobile enterprise platform, your staff members will be able to access corporate information technology systems and services on-the-go and complete work tasks with greater immediacy and efficiency. You will also have the ability to maintain control of such internal mobile applications used by your employees and ensure that your mobile IT infrastructure is secure and scalable. Having mobile application platform management capabilities is critical for your employees to effectively complete business tasks in an easy and efficient way regardless of the mobile devices they choose.

Your office workers, in turn, will be able to communicate with customers, coworkers, and sales teams to get their work done quicker and more precisely. Having the ability to access and transmit information via their mobile devices will give them the potential to be more productive. In addition, making the platform barriers disappear will ebable your employees to communicate better with the management and with each other.

Productivity is also related to the cleanliness and organization of the office. If there is a mess around the work areas, people are not able to find things and it will take them longer to do their usual job. Maintain good health practices to help avoid sickness. You should also think about painting the walls or even redecorating from time to time. Remember that work conditions have a great influence on the employees’ productivity!.

Last, but not least, be sure and reward your employees regularly. Unexpected rewards are the best and will give an unbelievable boost to both morale and production. It has been proven that efficiency increases when workers are rewarded. Which kind of rewards?! Well, the most effective rewards are financial incentives. You can also reward your employees with verbal affirmation, however the financial incentives are more appreciated. Being aware of what your staff members are working on and accomplishing can help you know when they need a pat on the back or a bonus. Knowing that their work is appreciated and noticed will help them be more productive and efficient.

Every business has ups and downs; times when productivity seems to lag and people lose their enthusiasm. As their employer, you have the ability to pull your staff members up and give them motivation again. Once they realize that they have purpose in the company and are given the tools to succeed, the morale and productivity will increase.
Taken From (http://www.your-gadgets.com/apple/iphone/4928-ways-to-make-your-employees-more-productive.php)

The Importance of a Marketing Plan

There aren't many things in life that you would get into with out a plan. Marketing is no different. Your overall marketing plan should cover about a six month period, and should be made up of weekly and monthly marketing schedules.

This is how you do it:

1. Figure out how much money is in your budget.

As we all know, marketing of any kind costs money. How much money you are willing to commit to the cause is going to determine some key factors about how that money can be best spent. Remember, you want to be economical but you also need to be realistic on what it will take to pull in the leads you need to close new and repeat business.

2. Determine your target market.

Who is most likely to buy your product? Are they married? Are they business owners? What is their income level? These are the people that you want to target. One of the most common mistakes in marketing is answering "Everyone" to the question "Who is your target market?" It may be that you have more than one target market, but there is no product in the world that appeals to each and every person. Even Coca-Cola targets different people with different messages. Decide who is MOST LIKELY to buy what you have to sell and target them. Your message to teenagers will be different than your message to housewives even if the product is exactly the same. Different markets may require different mail pieces or advertisements.

2a. Using the Right Mailing List.

In making sure that your message is getting across to the right people - people who are in the market for what you're offering - it usually comes down to finding the right mailing list.

There is a great deal to know about mailing lists. There are pointers you could follow when buying a mailing list that tell you what to watch for in a mailing list company to make sure they're reputable. They are:

iv) Get references. Talk to other people that have purchased mailing lists from that company.

v) Do they guarantee on delivery? That means due to the inevitable number of bad addresses there are in a list, can they still guarantee a high percentage of deliverable addresses. That number should be 90% or better. People move all the time so a mailing list company cannot guarantee 100% deliverability - but they should guarantee at least 90%.

vi) How often do they update their information? They should be able to answer this question and should be updating their information monthly.

You can get burnt on mailing lists - it is the most expensive part of your campaign. Ask friends who own businesses. Don't just purchase from the first person that tries to sell you mailing lists. Do your research.

3. Select what media to use. (i.e., Direct Mail, Television, Radio, etc.)

This decision will depend on both your budget and your target market. If you have not done a good deal of marketing in the past we recommend picking one media to start. This is much easier to keep track of and you will better be able to tell whether or not it is working. Also, since repetition is the key to marketing success, using one media to begin with will help you reach the same people multiple times. If you run a
newspaper ad and send out a postcard, you run the risk of the majority of the people only seeing your ad once. However, if you send out the postcard twice you can guarantee that you get your message to the same
people twice and you will start to build recognition.

Once you are getting the returns that you want from the first media, or if you decide that it is not working for you, you can branch out into another form of advertising. Over time you will build up a very diverse
marketing plan.

4. Make a Schedule and Stick with It.

Figure out how many people you have in your target market. For this example we will use Direct Mail Marketing. If you have a mailing list of people in your target market that has 1500 names, figure out how many times per month you can mail a postcard to them and still stay within your monthly budget. Once you come up with this number, do it!

The importance of having a marketing plan cannot be stressed enough. Create one and follow it and you'll start seeing the benefits.
Taken From (http://marketing.bestmanagementarticles.com/a-2751-the-importance-of-a-marketing-plan.aspx)

The Top 10 Marketing Tips of All Time

With more than a decade of experience in marketing, ranking from pay-per-click to direct mail, I’ve seen a lot of failures and far more successes when it comes to marketing.

Today, the art of marketing is far more complex than it once was. However, many of the same basic principles still apply. Too often, professional marketers and small business owners overlook the basic techniques that have separated successful campaigns from those that never turn a profit. Here is my all time list of effective marketing tips.

Know your audience. Successful campaigns get that way because marketers know their audience. They fully understand their needs, how to help meet those needs and how to create demand. Knowing and understanding your audience through proper market segmentation means a well targeted campaign that generates a profitable return.

Focus on the offer. A marketing offer is the driving force of marketing promotions that drive results. In fact, market testing has proven that the offer is the most significant criterion for conversion. Focus on your offer if you want to be successful.

Split test. Never ever run a campaign without testing something. One of the most common is a split test which allows you to simultaneously test two versions of something. It can be a web page, post card, or email. Split testing is essential for improving performance.

Never work alone. The most creative ideas come from working with other creative people. Don’t feel like you need to have all the answers or great ideas. You may start with an idea, but an open dialog with creative individuals will make it better.

Don’t sell on price. I’ve seen so many marketers fail because they sell on price alone. This leads to a discounting war, lower profitability, and often bankruptcy. Rather, focus on creating so much value that the perception of price becomes insignificant.

Consistent messaging. Consider the entire user experience before you launch a campaign. From email to website to offer, is the prospect having a consistent user experience? If they are, your campaigns stand above 98% of others.

Create value after the sale. As marketers, it’s our job to understand our market segment and build relationships, not dump people off at the front door of our store and walk away. Focus as much of your energy on building relationships with customers as you do prospects.

Test. Test. Test. In addition to split testing, you should consider multiple forms of testing in each marketing discipline. For direct mail, test headlines, offers, copy, time of direct mail drop, etc. Consider testing a life long mission.

Integrated Marketing Works Best. You can’t rely on one form of marketing to carry you to success. It’s okay to generate most of your leads or sales through PPC marketing if you will but what happens when that dries out? Use multiple media sources to meet your goals.

Nothing can replace experience. You can run out and hire all of the best consultants in the world, but you still have to do the work. Nothing can replace actual experience. It will make you a stronger marketer and more successful in the long term.

Apply these helpful marketing tips if you want to be truly successful. These techniques and tips are applied by successful marketers on a daily basis. The result is an ever growing success rate of marketing success.
Taken From (http://marketingscoop.com/top10marketingtips.htm)