There are the purists out there who live and die by plain text, right through to those who swear by a nicely formatted HTML newsletter. But the fact is that if done correctly, email is one of the most effective forms of online marketing available to your clients. This in turn makes it a very profitable service to add to your portfolio. So, why get into email marketing?
Reason 1: You can already do it
Sure, there are some subtle differences, but if you can design and code a web page, you’ve got the basic skills required to build and send a HTML email. There are plenty of tools available today that make sending and measuring email marketing campaigns a painless process. Provided you can get the creative right and follow best practice for acquiring permission, you can start offering email marketing as a service in no time.
Once you understand email design, you can start extending your knowledge beyond creating templates. Learn more about growing your customer’s subscriber lists, avoiding spam filters, designing effective landing pages and a range of other areas that will ensure you maximise results for your clients.
Reason 2: It complements your current services
Email marketing is the perfect add-on product to package with your existing web design services. Once you launch a new web site for a client, why not help them drive traffic to the site and make the most of their investment.
Add a newsletter subscription form to each page of their site and start building a house list. Add an opt-in checkbox to their online store’s check-out process. Include paper-based sign up forms at all their offline stores. Do everything you can to encourage interested customers and subscribers to join your client’s list.
A few months after the site is launched and you’ve (hopefully) started growing a decent house list for your client, you might begin designing and sending a monthly newsletter or a latest specials email to this list, which leads us to the next point…
Reason 3: It’s a new and recurring revenue stream
Just like most web sites, an email marketing program is an organic thing that changes over time. Each issue needs to include new content or a new offer, there might be a design tweak you need to make or a new email client to test in. As well as improving your clients relationship with their customers or driving sales, an email marketing program can also provide a great cashflow injection each month.
The good news doesn’t stop there. A recent survey found that 40% of senior executives in the Western US planned to increase their spending on email marketing in 2009, and more than half were outsourcing their email marketing to designers and creative agencies.
Reason 4: It works
Actually, works is an understatement. Based on research conducted by the Direct Marketing Association, email marketing is predicted to return an incredible $43.62 for every dollar spent on it in 2009. To put this in perspective, that’s more than double the average return for other forms of online marketing and more than 6 times the return from print catalogs.
Why email marketing works
It’s cost effective – While the cost of actually designing your email creative can be comparable to direct mail, the big savings start when you consider there are no printing costs and you can get your message delivered for around a cent per recipient.
It’s immediate – Email generates an immediate response, instead of waiting for a subscriber to visit your site you can get your message to them when it counts. The majority of your recipients will see your message in the first 24-48 hours.
It’s relevant – Email makes it easy to segment your subscribers using a variety of criteria like demographics and past campaign behaviour (such as clicking a certain link). This way you can ensure your message goes to the individuals most likely to be interested in your offer.
It’s completely measureable – More than any other form of marketing, email can provide actionable data on the results it generates. Keep track of who opened your email and when, what topics they were interested in, who forwarded it on to a friend, how many sales were generated and much more.
There’s always a “but”
Like most things, you’ll only get true results from email marketing if you’re prepared to put the effort in. It’s incredibly important to get the foundation right. Make sure every one of your client’s subscribers gave acceptable permission to hear from them. Ensure the newsletter or offer is relevant to them and displays correctly in each email client. Make sure you use a reputable service to ensure the message gets delivered.
If you fall short in any of these areas then you may end up doing more harm than good, or even land yourself and your client in legal trouble. Once you get the basics right for your clients, you can start experimenting with more advanced email marketing techniques.
Taken from(http://www.campaignmonitor.com/resources/entry/560/4-reasons-why-designers-should-offer-email-marketing/)
Sunday, 31 July 2011
Friday, 29 July 2011
8 Ways to Use Business Cards to Network and Market Your Business
You've had the finest, most eye-catching business cards printed. Now, what do you do with them? Networking with business cards is one of the most cost effective means of marketing your business--and yourself.
Don't leave them sitting in the box, they do you no good there. Get them into the hands of your prospects! If you think of your business card as a mini-billboard for your company, you'll realize that you need people to see it in order for it to be effective. Here are a few ideas to get you started...
1) Keep them in your pocket, purse, briefcase, and wallet, on your desk, and at the reception area of your office
Leave some in your car. Always have them on hand so you can introduce yourself to new people when the moment is right. They should be a necessary part of your routine before you leaving home every day. When checking for your wallet and keys, check for a stack of business cards too. Keep replenishing your supply.
2) Store your cards in a nice holder so they don't get bent
Keeping your cards in a stylish business card case makes for a better presentation when you hand your cards out. Likewise, treat others' cards well when you accept them. For example, spend a few moments reading the card closely before you put it away. You won't impress the person by mishandling their business card. If your contact information should change, have new cards printed immediately. Writing in your new email address or phone number leaves a bad impression.
3) Place business cards on bulletin boards at local restaurants, supermarkets, libraries, and your children's schools
At your place of business, have a bulletin board where others can post their cards in return for passing out your cards to others. If you see a fishbowl offering a drawing for a prize, throw your business card in. Somebody important might see it and contact you.
4) Include business cards with all of your correspondence, including bills you pay
You never know who might open the mail that day. If realtors can sell houses this way, why can't you generate business the same way? If you ship products, for example, include a card with every package. Send business cards with all thank you notes and letters you send out. Include your contact information in your email signature as well. It serves as an electronic business card.
5) Use them as scrap paper when you need to jot down a note
Instead of a napkin, use the back of your business card to write in your cell phone number. "This is my direct line," you might say, making the prospect feel important and giving him or her a reason to keep your card.
6) Give people a reason to hold on to your card
Print something unique on the back of it--a calendar, a list of your services, important measurements, or anything relevant to your industry. You could also print a coupon on it, and ask them to return the card with their order, so again they have a reason to keep your card.
7) As a business owner or manager, have business cards printed for all staff members, right down to the lowest ranking person
The novelty of the cards for those who usually don't have them will entice employees to hand them out. At the same time, you'll make them feel appreciated. Your employees are part of your network, so use their networks to generate business for your company.
8) Use your business cards to introduce yourself to prospects you meet at networking functions, in the park or at your children's soccer games
However, don't be pushy. Make sure the time is appropriate. One way to do this is to ask for the other person's card. He or she will likely ask you for your card in return. Another idea is to hand out two or three cards at a time--one for the person you meet, and extras for him or her to hand out to referrals. (Offering to do the same would be the polite thing to do here.) When you go to the doctor or dentist, present your card to the receptionist to announce your presence.
Leaving your business cards to sit in a box or a drawer collecting dust defeats the purpose of having them. They are inexpensive enough to print by the thousands, so hand them out liberally. It's a cost-effective way to market yourself and your business.
Taken From (http://www.greatfxbusinesscards.com/articles/using-business-cards-to-network-market.htm)
Don't leave them sitting in the box, they do you no good there. Get them into the hands of your prospects! If you think of your business card as a mini-billboard for your company, you'll realize that you need people to see it in order for it to be effective. Here are a few ideas to get you started...
1) Keep them in your pocket, purse, briefcase, and wallet, on your desk, and at the reception area of your office
Leave some in your car. Always have them on hand so you can introduce yourself to new people when the moment is right. They should be a necessary part of your routine before you leaving home every day. When checking for your wallet and keys, check for a stack of business cards too. Keep replenishing your supply.
2) Store your cards in a nice holder so they don't get bent
Keeping your cards in a stylish business card case makes for a better presentation when you hand your cards out. Likewise, treat others' cards well when you accept them. For example, spend a few moments reading the card closely before you put it away. You won't impress the person by mishandling their business card. If your contact information should change, have new cards printed immediately. Writing in your new email address or phone number leaves a bad impression.
3) Place business cards on bulletin boards at local restaurants, supermarkets, libraries, and your children's schools
At your place of business, have a bulletin board where others can post their cards in return for passing out your cards to others. If you see a fishbowl offering a drawing for a prize, throw your business card in. Somebody important might see it and contact you.
4) Include business cards with all of your correspondence, including bills you pay
You never know who might open the mail that day. If realtors can sell houses this way, why can't you generate business the same way? If you ship products, for example, include a card with every package. Send business cards with all thank you notes and letters you send out. Include your contact information in your email signature as well. It serves as an electronic business card.
5) Use them as scrap paper when you need to jot down a note
Instead of a napkin, use the back of your business card to write in your cell phone number. "This is my direct line," you might say, making the prospect feel important and giving him or her a reason to keep your card.
6) Give people a reason to hold on to your card
Print something unique on the back of it--a calendar, a list of your services, important measurements, or anything relevant to your industry. You could also print a coupon on it, and ask them to return the card with their order, so again they have a reason to keep your card.
7) As a business owner or manager, have business cards printed for all staff members, right down to the lowest ranking person
The novelty of the cards for those who usually don't have them will entice employees to hand them out. At the same time, you'll make them feel appreciated. Your employees are part of your network, so use their networks to generate business for your company.
8) Use your business cards to introduce yourself to prospects you meet at networking functions, in the park or at your children's soccer games
However, don't be pushy. Make sure the time is appropriate. One way to do this is to ask for the other person's card. He or she will likely ask you for your card in return. Another idea is to hand out two or three cards at a time--one for the person you meet, and extras for him or her to hand out to referrals. (Offering to do the same would be the polite thing to do here.) When you go to the doctor or dentist, present your card to the receptionist to announce your presence.
Leaving your business cards to sit in a box or a drawer collecting dust defeats the purpose of having them. They are inexpensive enough to print by the thousands, so hand them out liberally. It's a cost-effective way to market yourself and your business.
Taken From (http://www.greatfxbusinesscards.com/articles/using-business-cards-to-network-market.htm)
Thursday, 28 July 2011
Business Card Marketing: Improving Your Business Cards
Your first contact with prospective customers would likely be done through your business cards. When people see your cards, they will most likely see who you are and what you do. Your cards will serve as your visual identity, so you need to make sure your cards are designed well. You need to position yourself and your business effectively in a piece of paper.
Essentially, there is only one great chance you have to make a good first impression. And that is through a well designed business card printing. Your cards are actually effective tools that will help identify and express your message to your customers. But if your cards are boring and unattractive, people will not even give you their time and attention. This is why it is important that your cards are designed creatively and interestingly.
As much as possible, your cards should reflect your good image. Unfortunately, a lot of cards are designed terribly. They are incorporated with bad designs that do not help in giving your business a good impression. Among the bad things people do with their cards are the following:
1. They insist on creating their cards on their own. Because it is much cheaper to create cards on your own, some business owners just buy a paper stock from the local office supply store and print their contact details on it.
2. They try to print on the edges of the card. This does not help in giving your cards a good image.
3. Printing contact details in large and bold font style, making it hard for people to understand the message.
Keep in mind that business cards are only small, making it hard to create a design that delivers the best impact. There is basically no rule on how to design your cards. Your imagination is the limit. You can create any design you want as long as it best represent your business and the products or services you provide. The tough part is creating an attractive design that gives your customers a good and positive idea about you and your business.
Here are some tips to help come up with the best business cards:
1. Make sure your logo is present in all your cards. Your logo will help establish your identity and make it easy for people to remember you.
2. Your company name has to be prominent in your cards. People should easily know the name of your business and recognize it whenever they see your card or your logo.
3. If your business name does not easily tell the type of business you provide, you need to include a tag line in your cards. It should be clear and concise so people will easily understand it.
4. Your name should also be present in your cards. This is the main element that should be present in your cards so people can easily contact you.
5. Your physical address should also be present to give credibility to your business. People who are interested in your will usually look for an address, so make sure your address is in your business card templates.
6. Of course, your phone number(s) should also be present so people can contact you easily. Do not forget to put your area code to make it easy for people to find you.
Taken from(http://proarticlesdaily.com/advertising/print-advertising/business-card-marketing-improving-your-business-cards.html)
Essentially, there is only one great chance you have to make a good first impression. And that is through a well designed business card printing. Your cards are actually effective tools that will help identify and express your message to your customers. But if your cards are boring and unattractive, people will not even give you their time and attention. This is why it is important that your cards are designed creatively and interestingly.
As much as possible, your cards should reflect your good image. Unfortunately, a lot of cards are designed terribly. They are incorporated with bad designs that do not help in giving your business a good impression. Among the bad things people do with their cards are the following:
1. They insist on creating their cards on their own. Because it is much cheaper to create cards on your own, some business owners just buy a paper stock from the local office supply store and print their contact details on it.
2. They try to print on the edges of the card. This does not help in giving your cards a good image.
3. Printing contact details in large and bold font style, making it hard for people to understand the message.
Keep in mind that business cards are only small, making it hard to create a design that delivers the best impact. There is basically no rule on how to design your cards. Your imagination is the limit. You can create any design you want as long as it best represent your business and the products or services you provide. The tough part is creating an attractive design that gives your customers a good and positive idea about you and your business.
Here are some tips to help come up with the best business cards:
1. Make sure your logo is present in all your cards. Your logo will help establish your identity and make it easy for people to remember you.
2. Your company name has to be prominent in your cards. People should easily know the name of your business and recognize it whenever they see your card or your logo.
3. If your business name does not easily tell the type of business you provide, you need to include a tag line in your cards. It should be clear and concise so people will easily understand it.
4. Your name should also be present in your cards. This is the main element that should be present in your cards so people can easily contact you.
5. Your physical address should also be present to give credibility to your business. People who are interested in your will usually look for an address, so make sure your address is in your business card templates.
6. Of course, your phone number(s) should also be present so people can contact you easily. Do not forget to put your area code to make it easy for people to find you.
Taken from(http://proarticlesdaily.com/advertising/print-advertising/business-card-marketing-improving-your-business-cards.html)
Tuesday, 26 July 2011
Top 4 Ways To Leverage Small Business Micro Loans
When it comes to finding ways to start a new business, micro loans can mean the difference between failure and success. Micro loans are just that. Small loans $35,000 or under that don’t need a lot of vetting in order to pass muster. Many small businesses don’t need a lot of start-up capital as there may not be a lot of equipment or production stock that has to be purchased, which means the loan may only be needed to establish a store front or convert a home based business into a “real” small business. Leveraging micro loans into a successful business will depend on just how you need to apply it.
Here’s a few ways to leverage a small business micro loan to improve your business:
Buy essential equipment or upgrade outdated equipment to help your business grow. For instance, if you’re doing thermal and screen printed t-shirts, upgrading to new, faster equipment can help you improve production
Utilize or improve marketing techniques to penetrate deeper into existing markets and reach out for new ones. If you do t-shirts, expanding from local markets to a national, internet based market can bring in all sorts of new sales
Purchase needed production materials to meet order needs. For example, to meet orders, purchase t-shirts and materials to take care of the order, using profits to either pay on the loan or to expand.
Use funds to create a place for a new employee. Added help can pay off in marketing, production and in infrastructure as each position plays an important part of growing any business Keep in mind micro loans aren’t huge, but do have rather long payoffs. Up to 6 years to pay off up to $35,000 means you can continue to leverage the profits for a while. But being able to use these micro loans to reach new levels of productivity or reach out with new marketing strategies that pay off is well worth the investment in time and effort we make as small business owners.
When starting a new business, being able to borrow the funds for the initial investment can make the business actually happen. Too many potential small businesses never get started because the money isn’t available directly from banks, relatives or even investors, but a small business micro loan can give you the leverage you need to make your dream business come to life.
Taken from(http://www.freearticlesinc.com/view_article-id-37762-at-Top-4-Ways-To-Leverage-Small-Business-Micro-Loans.html)
Here’s a few ways to leverage a small business micro loan to improve your business:
Buy essential equipment or upgrade outdated equipment to help your business grow. For instance, if you’re doing thermal and screen printed t-shirts, upgrading to new, faster equipment can help you improve production
Utilize or improve marketing techniques to penetrate deeper into existing markets and reach out for new ones. If you do t-shirts, expanding from local markets to a national, internet based market can bring in all sorts of new sales
Purchase needed production materials to meet order needs. For example, to meet orders, purchase t-shirts and materials to take care of the order, using profits to either pay on the loan or to expand.
Use funds to create a place for a new employee. Added help can pay off in marketing, production and in infrastructure as each position plays an important part of growing any business Keep in mind micro loans aren’t huge, but do have rather long payoffs. Up to 6 years to pay off up to $35,000 means you can continue to leverage the profits for a while. But being able to use these micro loans to reach new levels of productivity or reach out with new marketing strategies that pay off is well worth the investment in time and effort we make as small business owners.
When starting a new business, being able to borrow the funds for the initial investment can make the business actually happen. Too many potential small businesses never get started because the money isn’t available directly from banks, relatives or even investors, but a small business micro loan can give you the leverage you need to make your dream business come to life.
Taken from(http://www.freearticlesinc.com/view_article-id-37762-at-Top-4-Ways-To-Leverage-Small-Business-Micro-Loans.html)
Saturday, 23 July 2011
9 New Website Ideas To Make Money
In reality, people don’t pay attention to their ideas at most of the time. We could not predict, how a “silly idea”may change your own life. That too applicable for online based web site businesses. With the evolution of blogs and social media tools, there are tremendous growth in field of online business.
Interestingly, not all of your idea may work well. A bit of luck you need, at the same time, based on the market needs (that’s demand), the value of your idea varies. So i thought of sharing my own ideas which are most common yet worthy to try out as your next website.Idea
#1 Trending Topics Are Meant For Profits.
Trending topics are always hot in Internet. It spreads faster and gains attention of people quickly. People do follow trends in any industry and every one wants to stay tuned with the latest information, news.
The idea is to focus a specific market, and share the latest trends. This way, you could bring a wider audience under your control by making them to follow your web site. You could drive more targeted visitors to these kind of Trending Websites.
#2 Discussion Forums (on future hot topics) That Grows By Itself.
Discussion happens on a topic and it never ends. Every one will have different opinion and always some one there to trigger debates. The idea is to start a forum on a “future hot topic”.Find out the such future topics in Internet to start from today.
For example, 3D television’s are emerging and in 1-2 years the complete world will move into 3D entertainment.
Keeping that in mind, this will be right time today to launch a “forum on 3D” to get into the market earlier. So that after 1-2 years, your forum will lead the 3D television industry.
Think such future hot topics and launch a forum today itself.
#3 Simply, Build Niche Websites.
The simplest of all ideas, building niche web sites. Many of the successful affiliate marketers are applying this business strategy. Build a tiny web site on a micro market and sell products focusing a small audience. Build 5-10 such websites, sit and earn money. This is a most common idea but it works only when you play the wise game of SEO.
An article on how to make money from a new website ? may help you further.
#4 Web store To Sell Android/iPhone/Tablet Apps On Focused Market.
The market of Android, iPhones are trending a lot. It is expected to grow even wider in the up coming years. Even now its late to get into this market, but you could easily fill gaps in the market. Focus a particular audience and sell hand-held applications to them.
For example, start an app store focusing “teenagers” or “woman’s” or “kids gaming industry” or focus “tablet-pc market (emerging one)” which definitely works well. Now-a-days, people are going crazy behind these kind of hand-held applications.
An article on how to start iphone app business ? may help you on this topic.
#5 Amazon Product Website – Still it works !
Amazon still tops the race. The conversion rate on Amazon is higher when compared to other networks. People are more comfort to buy products from Amazon. Simply, become an Amazon affiliate and promote all kind of Amazon products through your website. This business still works as along as you are able to drive visitors who are looking for products online (i mean buyers).
A course on building Amazon web sites may help you further.
#6 Simple Problem Solving Utility Websites.
Internet users are mostly looking for solution to their problems. The idea is to take such problems and provide solution.
A simple utility web site which takes input from the user and helps them to solve their problem. Few examples, a simple online tax calculator, online insurance calculator etc. focusing a particular audience works well.
These are “build and forget” kind of web sites which consistently grows in the market.
#7 Social Media Application Sites.
Social Media application or utilities are still on demand. Shall develop a simple web application which helps to manage social media tools like Twitter, Facebook on a single page. All you need to use their exposed developer API’s to build such tools. These kind of tools are almost saturated in the market but still you could narrow down to a specific market/audience’s.
Further, you could go up steps further in linking multiple social media tools at one place.
#8 Market of Health Care – Still it works !
Whatever technology changes, the market of Health care dominates everywhere. There are always room to enter this competitive market but its worth investing your time and money. Again, you should always be focused in your idea towards a specific audience.
A simple directory to locate Specialized Doctors in your location or a directory to locate Specialized Consultants in your locality are few of the examples.
#9 Always Think, “Outside the Box”.
This is a general point, always think out of box. Don’t go by others directly instead, show a “slight variance” in what you are doing. That variance brings you the winning situation. Websites are meant for profits provided you are able to bring the right audience and make them satisfied.
To conclude, don’t just start a new website with an idea. Instead, spend quality time to analyze which idea works? which idea busts? and take wiser decision, there’s no hurry !
Taken from(http://emoneymakingonline.com/2011/03/01/new-website-ideas/)
Interestingly, not all of your idea may work well. A bit of luck you need, at the same time, based on the market needs (that’s demand), the value of your idea varies. So i thought of sharing my own ideas which are most common yet worthy to try out as your next website.Idea
#1 Trending Topics Are Meant For Profits.
Trending topics are always hot in Internet. It spreads faster and gains attention of people quickly. People do follow trends in any industry and every one wants to stay tuned with the latest information, news.
The idea is to focus a specific market, and share the latest trends. This way, you could bring a wider audience under your control by making them to follow your web site. You could drive more targeted visitors to these kind of Trending Websites.
#2 Discussion Forums (on future hot topics) That Grows By Itself.
Discussion happens on a topic and it never ends. Every one will have different opinion and always some one there to trigger debates. The idea is to start a forum on a “future hot topic”.Find out the such future topics in Internet to start from today.
For example, 3D television’s are emerging and in 1-2 years the complete world will move into 3D entertainment.
Keeping that in mind, this will be right time today to launch a “forum on 3D” to get into the market earlier. So that after 1-2 years, your forum will lead the 3D television industry.
Think such future hot topics and launch a forum today itself.
#3 Simply, Build Niche Websites.
The simplest of all ideas, building niche web sites. Many of the successful affiliate marketers are applying this business strategy. Build a tiny web site on a micro market and sell products focusing a small audience. Build 5-10 such websites, sit and earn money. This is a most common idea but it works only when you play the wise game of SEO.
An article on how to make money from a new website ? may help you further.
#4 Web store To Sell Android/iPhone/Tablet Apps On Focused Market.
The market of Android, iPhones are trending a lot. It is expected to grow even wider in the up coming years. Even now its late to get into this market, but you could easily fill gaps in the market. Focus a particular audience and sell hand-held applications to them.
For example, start an app store focusing “teenagers” or “woman’s” or “kids gaming industry” or focus “tablet-pc market (emerging one)” which definitely works well. Now-a-days, people are going crazy behind these kind of hand-held applications.
An article on how to start iphone app business ? may help you on this topic.
#5 Amazon Product Website – Still it works !
Amazon still tops the race. The conversion rate on Amazon is higher when compared to other networks. People are more comfort to buy products from Amazon. Simply, become an Amazon affiliate and promote all kind of Amazon products through your website. This business still works as along as you are able to drive visitors who are looking for products online (i mean buyers).
A course on building Amazon web sites may help you further.
#6 Simple Problem Solving Utility Websites.
Internet users are mostly looking for solution to their problems. The idea is to take such problems and provide solution.
A simple utility web site which takes input from the user and helps them to solve their problem. Few examples, a simple online tax calculator, online insurance calculator etc. focusing a particular audience works well.
These are “build and forget” kind of web sites which consistently grows in the market.
#7 Social Media Application Sites.
Social Media application or utilities are still on demand. Shall develop a simple web application which helps to manage social media tools like Twitter, Facebook on a single page. All you need to use their exposed developer API’s to build such tools. These kind of tools are almost saturated in the market but still you could narrow down to a specific market/audience’s.
Further, you could go up steps further in linking multiple social media tools at one place.
#8 Market of Health Care – Still it works !
Whatever technology changes, the market of Health care dominates everywhere. There are always room to enter this competitive market but its worth investing your time and money. Again, you should always be focused in your idea towards a specific audience.
A simple directory to locate Specialized Doctors in your location or a directory to locate Specialized Consultants in your locality are few of the examples.
#9 Always Think, “Outside the Box”.
This is a general point, always think out of box. Don’t go by others directly instead, show a “slight variance” in what you are doing. That variance brings you the winning situation. Websites are meant for profits provided you are able to bring the right audience and make them satisfied.
To conclude, don’t just start a new website with an idea. Instead, spend quality time to analyze which idea works? which idea busts? and take wiser decision, there’s no hurry !
Taken from(http://emoneymakingonline.com/2011/03/01/new-website-ideas/)
Wednesday, 20 July 2011
Job Interview Tip - Improve Your Interview Technique
A job interview gives you a chance to shine. What you say and what you do is going to either move you to the next round of consideration for employment or knock you out of contention. It doesn't take much to make an impression - good or bad. If you haven't taken time to dress appropriately or if you say the "wrong" thing, it will be over.
Take the time to prepare your interview technique including knowing what's on your resume, being able to present why you are qualified for the job, why you are interested in the company, and practicing staying calm and focused. It's important to remember that the image the interviewer has of you when he first meets you is the one that is going to last.
Know the Facts
I've been surprised when applicants weren't able to tell me their dates of employment or what they actually did on a day-to-day basis at their job. Review your work history - and make sure what you say matches what's on your resume. Take the time to learn about the company and about the job you're applying for.
What You Don't Say
What you don't say can - and will - be used against you in a job interview. If you come to an interview chewing gum or drinking coffee, you will already have one strike against you. Too much perfume or not enough deodorant won't help either. Not being dressed appropriately or having scuffed shoes will give you a second strike. Talking or texting on your cell phone or listening to an iPod while waiting to be called for the interview may be your final strike and you could be done with your candidacy before you even say a word.
What You Do Say
Your verbal communications are important. Don't use slang. Speak clearly and definitely. If you need to think about a response to an interview question, that's fine. It's better to think before you talk than to stumble over your words. Practice answering some interview questions so you're comfortable responding the basics.
Listen
It can be easy to get distracted during a job interview. It's stressful and you're in the hot seat when it comes to having to respond to questions. That said, if you do your best to listen to what the interviewer is asking, it will be easier to frame appropriate responses.
Taken From (http://jobsearch.about.com/od/interviews/qt/interviewtiptechnique.htm)
Take the time to prepare your interview technique including knowing what's on your resume, being able to present why you are qualified for the job, why you are interested in the company, and practicing staying calm and focused. It's important to remember that the image the interviewer has of you when he first meets you is the one that is going to last.
Know the Facts
I've been surprised when applicants weren't able to tell me their dates of employment or what they actually did on a day-to-day basis at their job. Review your work history - and make sure what you say matches what's on your resume. Take the time to learn about the company and about the job you're applying for.
What You Don't Say
What you don't say can - and will - be used against you in a job interview. If you come to an interview chewing gum or drinking coffee, you will already have one strike against you. Too much perfume or not enough deodorant won't help either. Not being dressed appropriately or having scuffed shoes will give you a second strike. Talking or texting on your cell phone or listening to an iPod while waiting to be called for the interview may be your final strike and you could be done with your candidacy before you even say a word.
What You Do Say
Your verbal communications are important. Don't use slang. Speak clearly and definitely. If you need to think about a response to an interview question, that's fine. It's better to think before you talk than to stumble over your words. Practice answering some interview questions so you're comfortable responding the basics.
Listen
It can be easy to get distracted during a job interview. It's stressful and you're in the hot seat when it comes to having to respond to questions. That said, if you do your best to listen to what the interviewer is asking, it will be easier to frame appropriate responses.
Taken From (http://jobsearch.about.com/od/interviews/qt/interviewtiptechnique.htm)
Tuesday, 19 July 2011
50 Ways to Save Money in Your Business
On a shoestring budget (and what entrepreneur isn't?), it really pays to scrimp and save. Just in case you've forgotten the value of a hard-earned penny, we've come up with a slew of money-saving ideas to boost your business's bottom line-from cutting your legal bills to inexpensive ways to draw in customers. Though some tips will save you more money than others, the end result of your overall spendthrift strategy could add up to a bundle.
Penny-Pinching Promotions
1. Piggyback your advertising. Including advertising material in other mailings, such as in invoices, saves postage and other costs, says J. Donald Weinrauch, co-author of The Frugal Marketer. Likewise, make the most of your point-of-purchase opportunities by tucking coupons, newsletters or other promotional fliers in the bag with customers' purchases.
2. Be a good neighbor. Split advertising and promotion costs with neighboring businesses. Jointly promote a sidewalk sale, or take your marketing alliance further by sharing mailing lists, distribution channels and suppliers with businesses that sell complementary goods or services.
3. Ask the people you know for help. The kind of support you'd most like to get from your contacts is referrals-the names of specific individuals who need your products and services. So go ahead and ask! Your contacts can also give prospects your name and number. As the number of referrals you receive increases, so does your potential for increasing the percentage of your business generated through referrals.
4. Got a happy customer? By telling others what they've gained from using your products or services in presentations or informal conversations, your sources can encourage others to use your products or services.
5. Make a special TV appearance. Local cable TV stations often have very reasonable advertising rates at time slots throughout the day and night. Though you won't necessarily reach prime-time viewers, you will make an impression where it counts-in the comfort of potential customers' homes.
6. Offer expert advice. Teaching a class, speaking at a community meeting, or writing an article for a local paper not only makes you look like an expert but garners low-cost attention for your business.
Read more online here.
Internet Ideas
7. Start your search engines. Research your market and find potential visitors for your Web site by looking through Usenet newsgroups (forums on the Internet where people post messages for public viewing) and special-interest groups related to your target market, product or service. Or, if you have America Online, visit their Small Business Center, which includes libraries of small-business information you can download at no charge.
8. Cut costs when setting up your online store. Think going online has to cost an arm and a leg? You can start out by selling items for next to nothing on online auction sites like eBay and Yahoo! Auctions . If you want to create a professional storefront, there are several "Web site in a box" solutions available, usually for a low monthly fee.
Read more online here.
9. Start chatting. Find newsgroups that cater to your audience, and join the fray. "I didn't start [participating in online discussion groups] to generate business, but as a way to find information for myself on various subjects," says Shel Horowitz, owner of Northampton, Massachusetts-based Accurate Writing & More and author of several marketing books, including Grassroots Marketing. "But it turned out to be the single best marketing tool I use. It costs only my time. [One] list alone has gotten me around 60 clients in the past five years." Always include your URL in your signature, but don't do any hard selling-most groups will ban you immediately. Instead, provide useful information that'll make people will want to click on your site.
10. Spread the word yourself. Are you letting people know what your URL is? Try putting it on your letterhead and business cards and in e-mail signatures-wherever potential visitors are likely to see it. Include it on employee uniforms, any promotional items you give away, all press releases, in your Yellow Pages ad and on company vehicles.
Location Logic
11. Get a suite deal. You don't have to run your office full-time from an executive suite to benefit from its services. Many homebased entrepreneurs find executive suites meet a range of needs, including access to a private mailbox and a receptionist to answer or forward calls to your home office. Visit the Office Business Center Association International Web site for more information.
12. Be mobile. While the costs of establishing a permanent retail location can be steep-you may spend up to $100,000 or more, with leases spanning three to 10 years-carts, kiosks and temporary spaces can be an easier way to get a foot in the door with a lot less risk. The upfront investment for a kiosk or a cart ranges from just $2,000 to $10,000, according to Patricia Norins, publisher of Specialty Retail Report. License agreements for carts and kiosks are shorter and are usually renewed every month up to one year depending on the location. This arrangement makes it easy for entrepreneurs to "come in, try it out for a month, and if their product isn't working, shift to a new product line or close up shop and move to a new location," Norins says.
Office Overhead
13. Buy recycled printer cartridges. Check Google or your Yellow Pages for a local recycled printer cartridge supplier. Or if you want to mix your charitable instincts with your printing needs, visit www.lasermonks.com , a remanufactured printing supply company run by a group of monks in Wisconsin who, after business expenses are paid, donate their profits.
14. Fill it out for free. Instead of buying forms at your local office supply store or spending time creating them yourself, you can find tons of free forms online that you can download, customize and print. Our free forms on Formnet can get you started.
15. Get free software. Visit Download.com to try hundreds of software products for free through trial downloads, freeware and limited versions of the full product. Visit our Complete Guide to Software to find the best software options for small businesses, including many links to the free trials of those brands. Another tip: If you haven't found what you're looking for through Download.com or our software guide, check out the manufacturer's site. Most offer free trial downloads.
16. Buy used equipment. Save up to 60 percent by buying used computer equipment, copiers and office furniture from stores such as the nationwide Aaron Rents & Sells chain. Auctions and newspaper classifieds are other good sources of used equipment.
Insurance Intelligence
17. Save by association. When looking for insurance, check with your trade association. Many associations offer competitive group insurance.
18. Be prepared. Buying appropriate insurance upfront saves money in the long run, says Jeanne Salvatore of the Insurance Information Institute , a nonprofit organization in New York City. Consider what situations would be catastrophic to your business and protect yourself with adequate insurance. "Disaster recovery," says Salvatore, "is one area where business owners shouldn't scrimp."
19. Make a foul-weather friend. By arranging for an alternative place to run your business in case of a major disaster, you may be able to save on business interruption insurance, advises the Insurance Information Institute. For instance, you could arrange with a firm in the same industry to use their facilities in case of damage, and vice versa.
20. Check up on your medical insurance. Before choosing a medical insurance carrier, ask for information on past claims and the loss ratio of paid claims to premiums, advises the Council of Better Business Bureaus in Arlington, Virginia.
21. Raise your deductible. Raising the deductible on your insurance usually lowers your premiums. Even if you end up having to pay the deductible, it's likely to be less than the amount you save.
Employee Economics
22. Aim to lease. Employee leasing-in which you turn over your work force to a professional employer organization that leases your employees back to you-can save you substantial cash on employee benefits, says Bruce Steinberg at the American Staffing Association (ASA). For referral to a leasing company near you, visit the ASA online at www.staffingtoday.net .
23. Go with the flow. Rather than paying for employees who sit idle when business is slow, consider hiring temporary employees to handle surges in business.
24. Make experience count. Get free or low-cost help-and give local college students a chance to learn the ropes-by hiring interns.
25. Use independent contractors. Employers generally don't have to withhold or pay any taxes on payments to independent contractors. But be very careful that your independent contractors fit the definition provided by the IRS or you could face penalties.
26. Commission your sales force. Overhead, salaries, incentives, training costs, fringe benefits and expenses add up when you're hiring your own sales representatives. Contracting independent manufacturers' sales reps, paid on commission only, is less expensive-and often equally effective.
Shipping Savings
27. Clean up your mailing list. The U.S. Postal Service will clean up your mailing list for free, correcting addresses, noting incomplete addresses and adding ZIP+4 numbers so you'll be eligible for bar-code discounts.
28. Prune that mailing list even more. The Direct Marketing Association offers this checklist of cost-cutting ideas. Eliminate nonresponders and marginal prospects; print "Address Correction Requested" on the face of your mail; investigate co-mingling your mail with that of other small mailers to take advantage of discounts available mainly to large mailers; and stockpile mail to build up larger volumes.
29. Be an early bird. Send mail early in the day, and you can usually expect to get one- to two-day delivery for the price of a first-class stamp.
30. Shop around for an overnight courier. Overnight delivery rates for the major couriers are competitive; however, if you're willing to wait a few hours-or even an extra day-you could save.
Tax Tactics
31. Mind some petty pointers. Don't get careless about your petty cash account. "Though you don't need receipts for expenses under $75, you should still track these expenses since they can add up," advises Holmes Crouch, author of 18 tax books.
32. Hire your children. If your children are at least 14 years old and pay their own taxes, it pays to take advantage of their lower tax bracket. "You can essentially transfer income from your business to them [to save money]," says David L. Scott, author of The Guide to Saving Money (The Globe Pequot Press).
33. Take a stand on taxes. If your business is new in the neighborhood, you may be at a higher tax rate than those who have been there longer. "Go to city hall to determine what your neighbors are paying, and use this to negotiate a better rate," says Pete Collins of New York City-based Price water house Coopers LLP. "Expanding businesses can often negotiate with community authorities, who want them to stay in town rather than move and take jobs elsewhere."
34. Homebased? Don't overlook crucial tax deductions. In addition to being able to deduct a portion of your rent or mortgage interest and utilities as a business expense, you can also deduct a percentage of various home maintenance expenses, along with a portion of the cost of services such as house cleaning and lawn care. Check out the IRS's Web site , or check with a knowledgeable tax advisor for more information.
35. Get out on the town. If much of your business is conducted at restaurants or you find yourself driving to clients' offices, make sure you take those deductions. If you entertain clients or potential clients to discuss a current or future project, you can deduct a portion of your entertainment costs. To qualify for this deduction, you must maintain a log of entertainment-related expenses you plan to deduct. For mileage, you can deduct 37.5 cents per mile in 2004. This figure usually changes annually, so check with your accountant at the beginning of each year.
Financial Focus
36. Make credit comparisons. If you tend to run unpaid balances on your credit cards at the end of the month, shop for a card with a low interest rate. If you pay in full, it's more important to avoid an annual fee and look for a longer grace period. "Often credit card issuers waive the annual fee or reduce the interest rate if you ask," says Scott. "Just tell your credit card company you've had several solicitations from other companies with more favorable interest rates or no annual fees, and ask if they will reduce yours."
37. Avoid cash advances. "Credit card companies usually charge an upfront fee of up to 2 percent of the advance, with interest accruing immediately," says Scott.
38. Bank on an early deposit. Make bank deposits early enough in the day so you get credit (and start earning interest) that day.
39. Get checks in the mail. Ordering your checks from a printing company often costs less than getting them from a bank. Options include Checks in the Mail and Designer Checks .
40. Form a buying alliance. Join with another business or a trade association for bulk purchasing discounts.
41. Take it with you. If you're near your suppliers, pick up your order yourself-or perhaps have a friend or family member do it for you, suggests Sarah Williams Steinman, president of Casco Bay Herb Co., an herbal soap manufacturer in Cumberland, Maine. For example, Steinman's husband travels throughout the Northeast. "He keeps me updated as to when he might be near one of my suppliers," she says. "He often travels through the town where my olive oil supplier is, and he'll pick up a few hundred pounds of oil on his way home. That saves me about $75 in shipping." Caution: Pick up supplies yourself only when it truly saves you money. If it's taking you away from a revenue-producing activity, you're not really saving.
42. Be reluctant to give credit. If you do extend credit, thoroughly check the client's credit background, says Collins. For less-than-creditworthy accounts, Collins advises considering the following actions: Collect cash in advance; send partial shipments; request letters of credit, personal guarantees and a pledge of assets; take out credit insurance; or think about factoring (see below).
Professional Policies
43. Query your consultants. The professionals you work with regularly are often easy to bargain with, thanks to the rapport you've developed with them. Ask your insurance agent, accountant or attorney how you can cut back on their costs. You'd be surprised at the suggestions they might offer on ways to cut your premiums, reduce billable hours or avoid huge retainers. You might also barter your services.
44. Be a legal eagle. When hiring an attorney, make sure you have a written fee agreement to prevent surprises. It should include an estimate of the time to be spent on your case and specify what's covered in the fee-including typing or copying-and what is not.
45. Learn something new. Rather than pay a consultant to write your press releases, for example, hire one for an hour or so to show you how to do it yourself.
46. Run from the law. "Avoiding lawsuits is a big factor in business success," says tax book author Crouch. "Even arbitration can get expensive." The best alternative: Try to work out any problems before they grow to the point that attorneys get involved. "Don't ignore any written or phone complaints."
Buying Brainpower
47. Stretch your budget with barter. Swapping one product or service for another is a good way to avoid cash outlays-and unload slow-moving inventory. If you'd rather not bargain with other businesses directly, hire a commissioned barter broker (listed in the Yellow Pages under "Barter"), or join a commercial barter club or exchange. The National Association of Trade Exchanges (NATE) is a clearinghouse for member exchanges across the country, allowing business owners to swap just about anything with anyone. Participants typically receive "trade dollars" for their goods or services, which are brokered across cities nationwide with the help of NATE. Visit NATE at www.nate.org .
48. Time your payments. Ask suppliers if they give discounts for early payment. If not, it's to your advantage to pay your bills-including utilities, taxes and suppliers-as late as possible without incurring a fee, advises Scott. "The longer funds are under your control," he says, "the longer they're earning a return for you rather than someone else."
49. Join an association. Many trade and business associations have reasonable membership fees and offer discounts on everything from insurance, travel and car rental to long-distance phone service, prescriptions and even golf course fees.
50. Seek at least three bids on everything. Even mundane purchases merit shopping around. If you quote a competitor's lower price, a supplier or vendor will often match that price to win your business.
Taken From (http://www.entrepreneur.com/money/howtoguide/article71318.html)
Penny-Pinching Promotions
1. Piggyback your advertising. Including advertising material in other mailings, such as in invoices, saves postage and other costs, says J. Donald Weinrauch, co-author of The Frugal Marketer. Likewise, make the most of your point-of-purchase opportunities by tucking coupons, newsletters or other promotional fliers in the bag with customers' purchases.
2. Be a good neighbor. Split advertising and promotion costs with neighboring businesses. Jointly promote a sidewalk sale, or take your marketing alliance further by sharing mailing lists, distribution channels and suppliers with businesses that sell complementary goods or services.
3. Ask the people you know for help. The kind of support you'd most like to get from your contacts is referrals-the names of specific individuals who need your products and services. So go ahead and ask! Your contacts can also give prospects your name and number. As the number of referrals you receive increases, so does your potential for increasing the percentage of your business generated through referrals.
4. Got a happy customer? By telling others what they've gained from using your products or services in presentations or informal conversations, your sources can encourage others to use your products or services.
5. Make a special TV appearance. Local cable TV stations often have very reasonable advertising rates at time slots throughout the day and night. Though you won't necessarily reach prime-time viewers, you will make an impression where it counts-in the comfort of potential customers' homes.
6. Offer expert advice. Teaching a class, speaking at a community meeting, or writing an article for a local paper not only makes you look like an expert but garners low-cost attention for your business.
Read more online here.
Internet Ideas
7. Start your search engines. Research your market and find potential visitors for your Web site by looking through Usenet newsgroups (forums on the Internet where people post messages for public viewing) and special-interest groups related to your target market, product or service. Or, if you have America Online, visit their Small Business Center, which includes libraries of small-business information you can download at no charge.
8. Cut costs when setting up your online store. Think going online has to cost an arm and a leg? You can start out by selling items for next to nothing on online auction sites like eBay and Yahoo! Auctions . If you want to create a professional storefront, there are several "Web site in a box" solutions available, usually for a low monthly fee.
Read more online here.
9. Start chatting. Find newsgroups that cater to your audience, and join the fray. "I didn't start [participating in online discussion groups] to generate business, but as a way to find information for myself on various subjects," says Shel Horowitz, owner of Northampton, Massachusetts-based Accurate Writing & More and author of several marketing books, including Grassroots Marketing. "But it turned out to be the single best marketing tool I use. It costs only my time. [One] list alone has gotten me around 60 clients in the past five years." Always include your URL in your signature, but don't do any hard selling-most groups will ban you immediately. Instead, provide useful information that'll make people will want to click on your site.
10. Spread the word yourself. Are you letting people know what your URL is? Try putting it on your letterhead and business cards and in e-mail signatures-wherever potential visitors are likely to see it. Include it on employee uniforms, any promotional items you give away, all press releases, in your Yellow Pages ad and on company vehicles.
Location Logic
11. Get a suite deal. You don't have to run your office full-time from an executive suite to benefit from its services. Many homebased entrepreneurs find executive suites meet a range of needs, including access to a private mailbox and a receptionist to answer or forward calls to your home office. Visit the Office Business Center Association International Web site for more information.
12. Be mobile. While the costs of establishing a permanent retail location can be steep-you may spend up to $100,000 or more, with leases spanning three to 10 years-carts, kiosks and temporary spaces can be an easier way to get a foot in the door with a lot less risk. The upfront investment for a kiosk or a cart ranges from just $2,000 to $10,000, according to Patricia Norins, publisher of Specialty Retail Report. License agreements for carts and kiosks are shorter and are usually renewed every month up to one year depending on the location. This arrangement makes it easy for entrepreneurs to "come in, try it out for a month, and if their product isn't working, shift to a new product line or close up shop and move to a new location," Norins says.
Office Overhead
13. Buy recycled printer cartridges. Check Google or your Yellow Pages for a local recycled printer cartridge supplier. Or if you want to mix your charitable instincts with your printing needs, visit www.lasermonks.com , a remanufactured printing supply company run by a group of monks in Wisconsin who, after business expenses are paid, donate their profits.
14. Fill it out for free. Instead of buying forms at your local office supply store or spending time creating them yourself, you can find tons of free forms online that you can download, customize and print. Our free forms on Formnet can get you started.
15. Get free software. Visit Download.com to try hundreds of software products for free through trial downloads, freeware and limited versions of the full product. Visit our Complete Guide to Software to find the best software options for small businesses, including many links to the free trials of those brands. Another tip: If you haven't found what you're looking for through Download.com or our software guide, check out the manufacturer's site. Most offer free trial downloads.
16. Buy used equipment. Save up to 60 percent by buying used computer equipment, copiers and office furniture from stores such as the nationwide Aaron Rents & Sells chain. Auctions and newspaper classifieds are other good sources of used equipment.
Insurance Intelligence
17. Save by association. When looking for insurance, check with your trade association. Many associations offer competitive group insurance.
18. Be prepared. Buying appropriate insurance upfront saves money in the long run, says Jeanne Salvatore of the Insurance Information Institute , a nonprofit organization in New York City. Consider what situations would be catastrophic to your business and protect yourself with adequate insurance. "Disaster recovery," says Salvatore, "is one area where business owners shouldn't scrimp."
19. Make a foul-weather friend. By arranging for an alternative place to run your business in case of a major disaster, you may be able to save on business interruption insurance, advises the Insurance Information Institute. For instance, you could arrange with a firm in the same industry to use their facilities in case of damage, and vice versa.
20. Check up on your medical insurance. Before choosing a medical insurance carrier, ask for information on past claims and the loss ratio of paid claims to premiums, advises the Council of Better Business Bureaus in Arlington, Virginia.
21. Raise your deductible. Raising the deductible on your insurance usually lowers your premiums. Even if you end up having to pay the deductible, it's likely to be less than the amount you save.
Employee Economics
22. Aim to lease. Employee leasing-in which you turn over your work force to a professional employer organization that leases your employees back to you-can save you substantial cash on employee benefits, says Bruce Steinberg at the American Staffing Association (ASA). For referral to a leasing company near you, visit the ASA online at www.staffingtoday.net .
23. Go with the flow. Rather than paying for employees who sit idle when business is slow, consider hiring temporary employees to handle surges in business.
24. Make experience count. Get free or low-cost help-and give local college students a chance to learn the ropes-by hiring interns.
25. Use independent contractors. Employers generally don't have to withhold or pay any taxes on payments to independent contractors. But be very careful that your independent contractors fit the definition provided by the IRS or you could face penalties.
26. Commission your sales force. Overhead, salaries, incentives, training costs, fringe benefits and expenses add up when you're hiring your own sales representatives. Contracting independent manufacturers' sales reps, paid on commission only, is less expensive-and often equally effective.
Shipping Savings
27. Clean up your mailing list. The U.S. Postal Service will clean up your mailing list for free, correcting addresses, noting incomplete addresses and adding ZIP+4 numbers so you'll be eligible for bar-code discounts.
28. Prune that mailing list even more. The Direct Marketing Association offers this checklist of cost-cutting ideas. Eliminate nonresponders and marginal prospects; print "Address Correction Requested" on the face of your mail; investigate co-mingling your mail with that of other small mailers to take advantage of discounts available mainly to large mailers; and stockpile mail to build up larger volumes.
29. Be an early bird. Send mail early in the day, and you can usually expect to get one- to two-day delivery for the price of a first-class stamp.
30. Shop around for an overnight courier. Overnight delivery rates for the major couriers are competitive; however, if you're willing to wait a few hours-or even an extra day-you could save.
Tax Tactics
31. Mind some petty pointers. Don't get careless about your petty cash account. "Though you don't need receipts for expenses under $75, you should still track these expenses since they can add up," advises Holmes Crouch, author of 18 tax books.
32. Hire your children. If your children are at least 14 years old and pay their own taxes, it pays to take advantage of their lower tax bracket. "You can essentially transfer income from your business to them [to save money]," says David L. Scott, author of The Guide to Saving Money (The Globe Pequot Press).
33. Take a stand on taxes. If your business is new in the neighborhood, you may be at a higher tax rate than those who have been there longer. "Go to city hall to determine what your neighbors are paying, and use this to negotiate a better rate," says Pete Collins of New York City-based Price water house Coopers LLP. "Expanding businesses can often negotiate with community authorities, who want them to stay in town rather than move and take jobs elsewhere."
34. Homebased? Don't overlook crucial tax deductions. In addition to being able to deduct a portion of your rent or mortgage interest and utilities as a business expense, you can also deduct a percentage of various home maintenance expenses, along with a portion of the cost of services such as house cleaning and lawn care. Check out the IRS's Web site , or check with a knowledgeable tax advisor for more information.
35. Get out on the town. If much of your business is conducted at restaurants or you find yourself driving to clients' offices, make sure you take those deductions. If you entertain clients or potential clients to discuss a current or future project, you can deduct a portion of your entertainment costs. To qualify for this deduction, you must maintain a log of entertainment-related expenses you plan to deduct. For mileage, you can deduct 37.5 cents per mile in 2004. This figure usually changes annually, so check with your accountant at the beginning of each year.
Financial Focus
36. Make credit comparisons. If you tend to run unpaid balances on your credit cards at the end of the month, shop for a card with a low interest rate. If you pay in full, it's more important to avoid an annual fee and look for a longer grace period. "Often credit card issuers waive the annual fee or reduce the interest rate if you ask," says Scott. "Just tell your credit card company you've had several solicitations from other companies with more favorable interest rates or no annual fees, and ask if they will reduce yours."
37. Avoid cash advances. "Credit card companies usually charge an upfront fee of up to 2 percent of the advance, with interest accruing immediately," says Scott.
38. Bank on an early deposit. Make bank deposits early enough in the day so you get credit (and start earning interest) that day.
39. Get checks in the mail. Ordering your checks from a printing company often costs less than getting them from a bank. Options include Checks in the Mail and Designer Checks .
40. Form a buying alliance. Join with another business or a trade association for bulk purchasing discounts.
41. Take it with you. If you're near your suppliers, pick up your order yourself-or perhaps have a friend or family member do it for you, suggests Sarah Williams Steinman, president of Casco Bay Herb Co., an herbal soap manufacturer in Cumberland, Maine. For example, Steinman's husband travels throughout the Northeast. "He keeps me updated as to when he might be near one of my suppliers," she says. "He often travels through the town where my olive oil supplier is, and he'll pick up a few hundred pounds of oil on his way home. That saves me about $75 in shipping." Caution: Pick up supplies yourself only when it truly saves you money. If it's taking you away from a revenue-producing activity, you're not really saving.
42. Be reluctant to give credit. If you do extend credit, thoroughly check the client's credit background, says Collins. For less-than-creditworthy accounts, Collins advises considering the following actions: Collect cash in advance; send partial shipments; request letters of credit, personal guarantees and a pledge of assets; take out credit insurance; or think about factoring (see below).
Professional Policies
43. Query your consultants. The professionals you work with regularly are often easy to bargain with, thanks to the rapport you've developed with them. Ask your insurance agent, accountant or attorney how you can cut back on their costs. You'd be surprised at the suggestions they might offer on ways to cut your premiums, reduce billable hours or avoid huge retainers. You might also barter your services.
44. Be a legal eagle. When hiring an attorney, make sure you have a written fee agreement to prevent surprises. It should include an estimate of the time to be spent on your case and specify what's covered in the fee-including typing or copying-and what is not.
45. Learn something new. Rather than pay a consultant to write your press releases, for example, hire one for an hour or so to show you how to do it yourself.
46. Run from the law. "Avoiding lawsuits is a big factor in business success," says tax book author Crouch. "Even arbitration can get expensive." The best alternative: Try to work out any problems before they grow to the point that attorneys get involved. "Don't ignore any written or phone complaints."
Buying Brainpower
47. Stretch your budget with barter. Swapping one product or service for another is a good way to avoid cash outlays-and unload slow-moving inventory. If you'd rather not bargain with other businesses directly, hire a commissioned barter broker (listed in the Yellow Pages under "Barter"), or join a commercial barter club or exchange. The National Association of Trade Exchanges (NATE) is a clearinghouse for member exchanges across the country, allowing business owners to swap just about anything with anyone. Participants typically receive "trade dollars" for their goods or services, which are brokered across cities nationwide with the help of NATE. Visit NATE at www.nate.org .
48. Time your payments. Ask suppliers if they give discounts for early payment. If not, it's to your advantage to pay your bills-including utilities, taxes and suppliers-as late as possible without incurring a fee, advises Scott. "The longer funds are under your control," he says, "the longer they're earning a return for you rather than someone else."
49. Join an association. Many trade and business associations have reasonable membership fees and offer discounts on everything from insurance, travel and car rental to long-distance phone service, prescriptions and even golf course fees.
50. Seek at least three bids on everything. Even mundane purchases merit shopping around. If you quote a competitor's lower price, a supplier or vendor will often match that price to win your business.
Taken From (http://www.entrepreneur.com/money/howtoguide/article71318.html)
Subscribe to:
Posts (Atom)