Small Business

Banks Favor Lending to Bigger Small Businesses

2012-02-15T07:26:00.000-08:00

Recent Surveys and Studies Suggest Banks Favor Strong Small Businesses

Very recently, November last year to be exact, the Wall Street Journal released an interesting story about banks and their credit preferences. It was discussed in this release that banks and other financial institutions are beginning to increase loans and lines of credit to small businesses. This does not mean, however, that they prefer 'every' small business niche and model. On a more general note, banks prefer small businesses that are larger than the usual small business and have enough cash and capital for collateral.

The Federal Bank of New York recently released a survey that clearly defines these small businesses as more apt candidates for credit and financing. Of course, these businesses have demonstrated in the latter half of 2010 positive growth in revenue, a positive and successful five-year track record, and most profoundly, survived the credit crisis by using their profits from 2008. Some small companies who have a record of less than $1 million in revenue are not included, as they do not recover at the same pace as the other "bigger" small companies.

It should be worth mentioning that the well-being of a particular company's industry is also worth taking into consideration. A lot of credit and financing companies actually favored professionals whose were physicians, accountants, veterinarians, engineers, and law firms due to the fact these business niches are not adversely impacted by discretionary consumer spending, but are rather services that are always in demand.

Another example includes small businesses like Efficient Lighting, Inc. Based out of Southern California, this company produces energy-efficient light bulbs and fixtures. Because of the industry's green drive, it was awarded with tax incentives and government subsidies. Given the inducement and motivation from the government, the industry expected $4 million in annual revenues that helped facilitate a $500,000 credit line from a bank to the company.

The demand for loans in the small business sector is always increasing, but banks are extremely careful with their lending these days, with more than half of the applications for loans rejected. This clearly points out that you don't have to have a big business to obtain credit or financing. All you need is a strong and promising company, regardless of size in order to get financial assistance from banks and other financing institutions. The health of the industry should always be taken into consideration as this significantly affects your company's qualification for loans and credit.

2012 Small Business Trends

2012-02-15T07:25:00.000-08:00

Okay so, 2012 is an interesting year for small business, mostly because the economy seems to be expanding, no not much, 1 to 2% growth in GDP is about all, but that's a lot better news than we had in 2008 and 2009. Of course, starting a small business is going to be tough because although interest rates are at an all-time low, qualifying to get a business loan is not nearly as easy as it was. Meanwhile the GAO has just put out a report that the small business administration needs more regulations in its small business loan program. We will see what happens with that.

This is a good time to go find a good deal in leasing a business location, unfortunately it may not be such a great time to start a business because our economy is not yet firing on all cylinders, and we don't know if it will accelerate from here on out, or if the debt that we are building up will come back to haunt us with higher taxes, and slower growth. We are in an election year, so the rest of this year should be at least decent economically speaking.

There are some other challenges on the retail front, namely online sales, and this new trend of consumers going into stores to check prices, without buying anything only to report those prices online. Yes, competition is good for America, but it sure hurts the small retailers. Energy costs are also increasing, most of this is due to the manipulation in our energy sector with regards to subsidized alternative energy. We should expect electricity costs to continue to climb.

Moving forward, we have some unfortunate trends having to do with healthcare and the future implementation of ObamaCare. It appears that it might cost as much as $4500 more per employee per year than what it cost previously. This will cause many smaller companies to shed labor, which will increase the unemployment, and mean there will be less money floating around in the communities for the other businesses.

Wages are increasing, but the consumers seem to be putting the money in the bank rather than spending it, this is not good for our smaller companies. Increased minimum wage initiatives also look to be coming forward, and those will also tap into the profit margins for our smaller companies. Well, these are just a few of the trends we will be dealing with in 2012, if you'd like to learn more about future trends as they are happening, you might wish to subscribe to my articles, so you don't miss anything. Please consider all this and think on it.

Outsourcing Your Shipping to Save Time and Reduce Costs

2012-02-13T10:34:00.001-08:00

Quite a few companies that mail products to their customers are putting a lot of time into the packing and shipping process. This is very understandable for a small companies trying to save money in every way possible.

For larger companies and rapidly growing companies, this may not be the best idea. Sometimes a process that seems to be saving money can actually prevent the business from earning money.

Any business that finds themselves overwhelmed with the order filling process should seriously consider outsourcing their shipping. If the company is large enough to have a shipping department, they should really weigh the pros and cons of doing in-house shipping.

Whenever a business owner needs to stop their operations so they can pack items and send them to customers, they are not marketing, selling, or networking to expand their operations.

When a business decides to outsource their shipping, they can immediately cut down on the manual-labor man hours. Employees that were packing and shipping will be able to focus their attention on filling orders and dealing with customer's issues.

Processing refunds and returns would be a thing of the past as well. The job of unpacking, restocking, and re-listing items will be the outsourcing companies concern.

Using a third-party shipping company can also help a business cut back on their storage space. Most of these third-party companies have large warehouses where they store their customers products.

This convenient service keeps their customers from storing large amounts of inventory even though they may lack the space. It also keeps them from storing their products in a facility that may have no supervision and very little security.

The money saved on space reduction and manual-labor hours will be a surplus. Companies can use this money to increase their marketing efforts and expand their enterprise. They can also offer their customers better shipping prices, and if their profits are large enough, they can even offer free shipping. An outsourcing company will also help them get their products to their customers much faster.

Using a third party company is the best way to go if you are looking for a way to increase sales and decrease the time put into shipping and handling. It will definitely give you more time and options so you can concentrate on growing, earning, and building a reputation. There is much more to learn about how you can save on shipping costs, which is one of the easiest ways to increase your bottom line.

Small Business Leadership: Client Management Tool

2012-02-13T10:32:00.001-08:00

Your Best Client Management Tool

As a seller of products, services, ideas, and value - your clients need you to be more than a peddler. They need you to be more than a partner. They need you to be a trusted advisor in every sense of that term. Someone they can turn to for advice, insights, guidance, and structure. And perhaps even someone to hold them accountable to themselves.

The best way you can do that is also one of the simplest ways: Give your clients deadlines.

There are 4 primary benefits to starting this habit with your current clients, new clients, and even your prospects (your clients-to-be):

1. They will see you are serious and intentional with your actions.

2. They will better perceive you as the professional you are

3. Although rarely will they make their appointed deadlines, they'll appreciate your concern for their progress

4. They want to see that you provide not only the content but also the structure for their success

Let's spend a moment on each one of these benefits.

1. They will see you are serious and intentional with your actions. A deadline conveys a commitment. A commitment conveys caring. And one sales truth that has stood the test of time is "Nobody cares how much you know until they know how much you care." A deadline shows your dedication to getting things done for your client and making things happen. At the end of the day, THAT is what they're paying you for.

2. They will better perceive you as the professional you are. Amateurs don't care when things get done. Now. Later. Tomorrow. Next week. Doesn't matter. Professionals care a great deal. Amateurs take their time. Professionals know that speed costs - and that solving problems FAST is worth a lot more than solving problems slowly. Or not at all. Step up to the big leagues by showing your client your true professionalism by putting deadlines in front of them to motivate action, outcomes, and results.

3. Although rarely will they make their appointed deadlines, they'll appreciate your concern for their progress. Nobody likes a taskmaster. Everyone loves an encourager. Yes, your clients will miss deadlines. But they would miss a whole lot more of them if you didn't have deadlines to shoot for! When clients miss a deadline, don't beat them up about it - that's not the point. The point is that you're there to coach them through to success - one deadline at a time.

4. They want to see that you provide not only the content but also the structure for their success. If you sell insurance, insurance is not your product. If you sell paper, paper supplies are not your product. If you sell engineering, engineering services are not your product. We sell the results (both tangible and intangible) of what our products and services do. No deadlines, no action. No structure for action, no results.

So deadlines are not calendar devices - they are results devices. Deadlines and milestones (even highly adjustable ones) make sure your client crosses the finish line over into results. And the sooner they do - and the more you help them get there - the more you'll earn their business, their referrals, and their trust.

Top 3 Tips in Selling to the Federal Government

2012-02-13T10:31:00.001-08:00

The federal government is seen as "omnivorous" when it comes to procuring services and goods. It can acquire a smorgasbord of products and services that they need for several different projects lined up. When you set your eyes on selling to the federal government, better brace yourself to a higher level of challenges. In government procurement, you have to remember that there is a unique set of rules that allows the government to be transparent and just. The downside to this is that it can be a process that is hard to control and is very slow.

Why is there a "PEAK SEASON" for Federal Procurement?

Government agencies have annual budget. You know that very well. The usual peak season for them to buy goods and services is from July to September. This is because they have to spend their budgets. If they keep their budgets at a standstill, they will lose the buck. Most of the time, small businesses find themselves supplying coffeemakers worth thousands of dollars and even very expensive punchers. Serving and providing for the government could really be lucrative just know the right agencies that will match your strengths.

What You Should Remember in Selling to the Federal Government?

To help you have a better grasp at the idea of selling to the federal government, you should take note of the following:

1. Assess the status of your company

As you know, the federal agencies don't just decide in buying from small businesses. They base every acquisition from the set of rules established by FAR (Federal Acquisition Regulations). FAR makes sure that every government purchase if of good value for the taxpayers' money, transparent, and fair. But selling to the federal government can be very complicated when you're faced with such a collection of regulations. See if your company has the time and resources to abide by everything that FAR requires and you are already on your way.

2. Know the client well

In selling to the federal government, be prepared for the endless statistics and reports that the government will make. This is advantageous for you because the information that the government agencies release will help you have a clear idea if your company can supply what they need. Search well and you can find bids that go over 25,000 USD. You could even know the agency's budget, what they need to buy, and when they would like to buy.

3. Face the decision makers

You should keep in mind that the contracting officer or the CO is only the one who makes sure that all the rules of government procurement are observed. This individual is not the one who influences the decisions that are made in government procurement. In selling to the federal government, search for the real people who influence the decisions in purchasing. They are the ones that should hear what you have to say with regard to your company's services and goods. They are the people who should be persuaded and convinced that you will be able to help them.

If you have mastered these, all you have to do is present your products and services during the bid. Show the government agencies that you have what they need at the right price and you will be successful in selling to the federal government.

Learn more about selling to the federal government and other helpful government procurement tips. Download our free e-book now by subscribing to our special newsletter!

What a SME Should Consider When Choosing a Business Electricity Supplier

2012-02-13T10:26:00.001-08:00

Small and medium sized enterprises (SMEs) now have many more options when choosing suppliers of electricity than they had in the past. This means that SMEs have the potential to save significant amounts of money on electricity by shopping for the best price. Officers or executives should consider several factors when choosing a vendor of electricity for business.

Many vendors of electricity now offer contracts for a specific amount of time, such as one year or three years, in which the rates for electricity will not change for the length of the contract. A SME can save significant amounts of money with such a contract if rates for electricity rise generally while the contract is in effect. The SME will not see a rate increase, at least not until they must renew the contract.

SMEs can save money indirectly on electricity if the vendor of electricity offers convenient payment options, such as direct debit. Indirect savings are realised through such programs because a cheque does not need to be written and mailed, saving administrative costs. Some suppliers of business electricity offer discounts for using direct debit to pay electric bills.

Administrative costs associated with business electricity can often be reduced if the supplier of business electricity has personnel available to answer questions. Many SMEs find it convenient to have one person or a dedicated team to contact should issues or questions arise. Money and worry can be reduced if the staff at a SME know whom to contact during an outage or if they have questions about their contract. A single contact or dedicated team at a supplier of business electricity can also help a SME save energy usage costs by providing information on how to use energy more efficiently. They may recommend the use of smart meters so that energy usage can be precisely monitored and controlled.

SMEs that wish to project an image of being green or environmentally friendly may want to consider using a supplier of business electricity that does the same. Many such vendors can provide information on how they generate electricity in an environmentally friendly manner. They may also be willing to provide information on how their customers can use energy in a manner that treads more lightly on the Earth. Some SMEs have customers of their own that require demonstration or documentation of environmentally friendly manner. A SME that uses a supplier of business electricity that operates in an environmentally friendly manner will have an easier time providing such documentation.

Improve Employee Satisfaction by Increasing Organizational Commitment

2012-02-13T10:23:00.000-08:00

We all know that a big red heart is the symbol of Valentine's Day, and for this reason February is also American Heart Month. Heart disease is the leading cause of death among men AND women, and ultimately your employees. Do you care about your employees? Yes, you do. However, any month is a great time to show your concern for your employees' health by generating awareness about the risk of heart disease and also by helping your staff do a "little something about it". But, why make the effort?

Numerous studies conclude that there is a significant relationship between Organizational Commitment to Employees (OCE) and company performance (eg. Muse, Rutherford, Oswald,and Raymond, Small Business Economics, Vol. 24, No. 2, Mar., 2005). OCE is defined by an organization's actions toward and treatment of its employees including caring for their well-being. Not to get too technical, but briefly there is a positive correlation between return on assets, return on sales, and return on cashflow and OCE.

I recently had the opportunity to listen to a presentation by Dr. Martha Grogan of the Mayo Clinic which recently published Mayo Clinic Healthy Heart for Life!. This book promotes an innovative yet very simple plan that could help your employees understand where to focus and how to make it easy for them to succeed in reducing their risk of heart disease by well over 50%.

First a couple of Questions (answers below).

* Which increases a person's risk of heart disease more? A) smoking a pack of cigarettes a day, or B) sitting around all day, every day.
* How many hours per week does one need to walk briskly to reduce the risk of heart disease by 50%? A) 1 hour per week, B) 3 hours per week, or C) 5 hours per week.

Here's the "little something about it". The Mayo Clinic proposes this simple regimen: "Eat 5, Move 10, Sleep 8". Per day, that's eat 5 fruits and vegetables, move around for 10 minutes, and sleep 8 hours. Pretty easy. How can employers reinforce this program?

* Keep a bowl of fresh fruit and vegetables near the coffee or common area.
* Allow employees an extra 10-minute "walking" break.
* Schedule "walk-and-talk" meetings.
* Limit in-office e-mail; promote face-to-face discussions.
* Obtain a company discount at a local fitness center and/or provide partial reimbursement for club fees based on real-time usage.

What makes Mayo Clinic's program ultimately more acceptable is that does not tell people what NOT to do such as the obvious (no smoking, maintain a healthy weight). Rather, this program highlights easy steps to better health that even the most sedentary of us can manage.

Call Center Services Keep New Business Start-Ups From Failing

2012-02-13T10:21:00.000-08:00

Before diving into a start up company there are many things to consider that could otherwise cause a financial disaster in a short period of time.

Statistically, about one and every three businesses will fail within the first two years. Often times it's just a matter of poor planning or lack of funding. The bottom line is that while the money may run out the bills wont and the employees will still expect their wages. The entrepreneur should take a close look at the cause of this alarming statistic before launching into to new venture. Naturally it is important to know your industry and your competitors but it's just as important to know how to save money on the every day costs.

One commonly overlooked investment is the use of call center services, and specifically telephone answering services. These services can literally help a company to save money and make money at the same time. Here's something to consider along the journey. When hiring a new full time receptionist a company can have payroll and taxes to the tune of about two thousand dollars a month. Additionally the employer will take on the cost of benefits, health insurance, and paid holidays. Further, if she's like most people she will call out sick, run late and when the phones aren't ringing she's still on the payroll.

An answering service is usually open twenty-four hours a day and every day of the year. They never close, call in sick, or complain. More importantly, with the exception of a small monthly fee, a good service will only charge for usage. When you are only charged for usage that means you are only charged when calls are being taken on your behalf. Phone answering services usually only run about one dollar per call which means you could literally have a service take one hundred calls a month and still only spend about a twenty five dollars a week. It's not even possible to hire a part time employee for that little amount of money.

The fact is most start ups can not afford the cost of a full time receptionist, but they know they really need one because they realize that an answering machine or taking your own calls says we're a tiny company and we may not be big enough to serve your needs. Bottom line, image is very important, and we naturally tend to think the small guy is unsuccessful or not able to handle our needs. While that may not be true, perception is everything. A service creates the image of having your own live secretary and dramatically improves the overall image of the business.

A final reason to consider using call center services is time. Most new business owners are extremely busy and are either with clients, up to their neck in paper work or need to focus on a big project. Being enslaved to a telephone is not an option and it just slows the entire work day down. Let's face it, you can't carry on twenty phone conversations a day and work at the same time. Further, if you're in a business that bills it service at an hourly rate it's just not right to spend time with other clients while your current customer pays for it. Let a service do it for you and you'll save time, money and create the image of being a big successful business owner.

Online Project Management for Investment Bankers

2012-01-13T10:33:00.000-08:00

Online Project Management Software for Investment Bankers

Investment bankers are some of the many people that can benefit directly from an online project management program customized and tailored to meet their individual needs. There are many programs that are available to meet the needs of investment bankers. Online project management software will allow you to organize, evaluate, simplify, and collaborate so that you can expand your opportunities.

Improving Productivity to Create a More Successful Business

As a successful investment banker, it is important to ensure that you have an effective management system in place that will allow you to organize and control your environment effectively. This will help you streamline and sort your business process. With online project management, you will be able to collaborate with team members, organize all of your important documents, integrate and save new documents as needed. Many of these programs all you to scan paper files and have them load directly into your online project management files.

The power of an online project management system

Online software as a service systems provide the tools to handle investment banking deals, track due diligence and collaborate with ease. Bankers can setup their transactions into a transaction folder, break down their project and share the files and documents with potential investors, vendors, legal counsel and anyone else that can be beneficial to their deal.

These project management software tools allow you to share and track documents and files, assign various roles and tasks and track them on one shared calendar. Online project management and document management services provide workable and productive solutions for professional investment bankers. The filing process is simple and quick, and the folder structure is easy to navigate and use. You can sort and name different files so that they are easily accessible. You save e-mails, physical documents, web-based documents, and a number of other data and information all in one place. Accessible by anyone that you assign permissions to access.

Collaboration tools to Share and Store Files increase transparency and efficiency

You can allow your files to be easily shared between staff members and investors so that you can manage your business more effectively. Many of these systems allow you to set a variety of permission levels like view only or download and the ability to print or not to print. Online project management systems allow you to handle multiple deals more effectively with less people.

Many of these systems today can also include online file viewers and editors. In choosing your product make a list of features that are important to you and check with your software vendor to be sure those features are included. One of my favorite features is the ability to edit word documents online and save these documents using version control. This not only allows for multiple parties to work together on the same documents, but allows me to go back and review older versions of documents.

The system of adding new files is extremely simple, you can add individual files or entire folder directories in one shot. Online and cloud based project management systems today even allow for your upload to continue if interrupted.

If you are looking to promote flexibility, transparency, and productivity, online project management software is an essential tool to consider. You can save and store your documents and data easily with the right project management solution.

Top 10 Startup Mistakes

2012-01-13T10:31:00.000-08:00

The following review will provide a number of examples that every entrepreneur should try to avoid when starting a venture. Some of the holes referenced below go in parallel with going out of business. With this in mind, we highly encourage you to carefully follow these guidelines. Remember, It is better to be safe than sorry. Each one of you should take your own decisions based on your due diligence, and other critical factors.

1) Having one founder. Startups should have more than one founder. The reason for this is credibility. Having at least two founders helps to diversify the work. It's also a good thing if the founders are from different backgrounds, so that each one of them has something different to add to the mix.

Moreover, investments can be difficult to pitch with only one founder. With this in mind, potential investors might feel as though your ideas are not good enough. From a psychological stand point, when you are involved in a startup there are going to be more bad days than good days (yes we know, it is unfortunate). Having another founder that will support you through such days, and vise versa, is key. One of the best things about the early stages of a startup are the brainstorming sessions. It is impossible to describe with words the great satisfaction of coming together as a team with the perfect solution to a problem. Avoid individualism - that kind of spirit does not get you far. Team players are key, try to stay together as one and create an environment where everyone has each other's back.

2) Wrong Location. Location is key. If you are located in the middle of nowhere it will be very hard not only to attract talent, but also the investment that will help you to build and launch your company. If you have an amazing idea and plan on executing it the best way possible, try to move to a bigger city where there is more action happening. In the beginning it will be hard to get used to a new city and to all the new changes, but you can certainly believe that in the long run it will be worth the struggle.

Some of the best cities to start a company are Silicon Valley, Boston, Seattle, Austin, Denver, and New York.

3) Doing too many things at once. One of the biggest issues that startups have is trying to do too many things at once. This creates distractions and focuses less on the tasks that need to get done. Do not try to go big right away. Make something small and make it better than anyone else. Once you have built your initial idea, then is the time to start adding new features. The easier you make it for the public, the better; otherwise they will get overwhelmed and won't understand what you are doing.

Remember. There is nothing wrong with changing the idea that you initially started with in spite of what the market is demanding from your product. Some of the greatest projects did not turn out to be the way they were planned.

4) Hiring C- employees. On average it can take around 2 to 3 months to hire a person depending on your location. We advise you to be on the look 24/7 and never stop interviewing people. Talent is hard to find, but not impossible.

In the event you are a startup involved with the tech industry, make sure that you are hiring the best programmers. Before hiring them review projects that they have been working on, see case studies and ask for a first hand account from previous customers. This will help you in making an informed decision.

Furthermore, we recommend that you stay away from recruiters at an early stage. They do not care about your company as much as you do and the only thing they are going after is their 25% commission based on the annual salary of the potential person that you are trying to hire. This is way too much money for a startup to throw out the window. It is a pain taking care of human resources, however, someone's gotta do it. After all, this is your company!

5) Launching too soon or too late. If a startup launches their project too soon, there could be a possibility that the product is not complete, and will not satisfy consumers. The main problem here is that if the project is not finished, it will completely turn off its users and as a consequence, people will not come back. On the other hand, you may have the problem of launching too late. This issue not only gives a bad image to the company, but since you have not been able to accomplish your milestones, it also creates a hole in the company's pockets because keeping the lights on is not cheap.

From our point of view, launch when you have something solid. Don't plan to launch the absolute best while waiting until such process is complete, launch with what you need and keep moving forward.

6) Raising more or less then the capital needed. Startups make this type of mistake all of the time. Make sure you have developed a detailed business plan that you are constantly updating and following carefully. This business plan should be the company's guidelines when entering a round of financing. Keep track of your finances, and know when you are running out of money. Be sure to plan accordingly so that you can raise a little over the money that you need (in case of surprises) to carry your company until the next round of financing.

7) Lack of budgets. When startups raise money they sometimes forget that money is very easy to burn. Even though you might feel like you have everything covered, that will most likely not be the case. There are always unexpected expenses that come along the way. With this in mind, we highly encourage you to keep all the expenses as low as possible. Try to negotiate every single invoice, and extend as much as you can for the sake of your company's cash flow. Try to operate only with the necessary number of employees. Another example of spending money could be moving into an expensive office space before the company is making any revenue. There are plenty examples of startups that blow up their bank accounts by renting very nice offices.. The moral - avoid getting an office space. Have it all start from your house if possible and only move into an office space when it is the absolute last resort.

8) Investors with lack of knowledge and expertise. Raising money is a tough battle. Dead money is the kind of investment that comes from a person who does not give an added value to the company. A good example of this would be startups who only bring in any of their friends or family members at an early stage. These kind of investors will not contribute the drive needed to have a successful startup. This can also turn off angel investors and venture capital firms that might want to jump in at a later round of financing. Another piece of advice is to not have a large number of investors at the Seed Round (first round of financing). Otherwise it will get too crazy with the legal paperwork on the next financing round, and as a consequence the attractiveness of the startup towards VC's and Private Equities will be extremely reduced.

9) Arguments between founders. There are many examples of founders fighting, which can potentially result in losing a team member. Try to avoid fights, establish guidelines so that it never gets to a situation that it is impossible to handle. Make sure your startup has a healthy working environment. Remember, startup life is very hard to begin with, do not add additional obstacles and always try to understand each other. As explained in our article "10 Must-Know Legal Tips For Startups", having restricted stock will prevent founders from walking out of the company with all the stock. Starting a company is not a joke, and is a long road to follow full of obstacles and darkness. Make sure you have a trusting and special connection with that person that you decide to share this journey with.

10) Lack of marketing. Your startup may have a unique product or platform, however, if no one knows about your product it's the same as it not existing. Make sure that you get the word out and reach as many people as possible. Figure out what are the best marketing channels in order to reach the right audience. Keep in mind that print media or advertisements are less affective than online resources nowadays. In any case, as a startup your company should NOT spend too much money on advertisement.

How To Turn Your Blog Into A Cash Making Machine

2012-01-13T10:28:00.000-08:00

Writing a blog is so easy these days that you can even write to a blog the same way you write an email, then all you have to do is to send the email to the blog address and the message is posted on the blog.

To make money with a blog you need to have just two things: Products to sell to your readers, and finally you need the readers themselves to read your blog and see the products displayed there.

Getting products to your blog is very easy today. There are affiliate programs and advertising networks which are more than happy to give you all the products you want to insert on all your pages. Most of the times all you have to do is to copy and paste a little piece of code and the affiliate network will do the rest.

There is one important rule you need to know, the more targeted to your pages the product is, the higher the sale will be - all the time - no exceptions.

That was the easy part. The hard part is to get as many readers as possible to your blog. This is only possible with one thing: World class content that people want to read.

Read that last line ten times plus one. If you do not have a way or a mean to have unique world class content that people want to read, you will never have enough readers reading your blog and you will not make as many sales as you could be making.

To find out what people want to read you must use Google Keyword Tool. This free tool shows how many times a keyword is searched and the amount of competition that keyword has. This tool shows one thing, it shows exactly how many people you can get to your blog for that particular topc or niche. 97% of internet users use a search engine and 80% of them use Google so by looking at these numbers you have expert information about what 80% of the market wants.

After knowing what you write about, you need to write the content yourself.

On the internet people want information and entertainment. You must specialize yourself in one of these niches. The most valuable is the information but the funniest is the entertainment. I would go for information since, you as a blogger, wants to sell as many products as possible and get the highest possible ROI for your work.

The first step here is to become an expert on that topic. People have millions of other blogs and sites to visit and if they see that your posts are not accurate they will leave your blog immediately - no exceptions. Becoming an expert means you will have to buy the best books about that topic and write what you learned. People want free information and if you have the paid information on your side and you write that paid information on your blog for free, people will like it, link to it and the word of mouth advertising will give results soon.

The second step is to understand the perfect intersection of quantity and quality. All your articles, posts, images, everything, need to have a near 100% quality score, that means they must carry pure information and they must be written using the keywords that Google keyword tools gave you. After mastering the science of writing high quality posts and blogs, you need to write as much as possible to give people as much information as possible to make your blog the only place to go to find information.

Do You Need A Fully Managed Support Service?

2012-01-13T10:25:00.000-08:00

In the world we live in today, all of us rely on technology every single day. Whether it's within our personal day-to-day lives or our business lives, we're not able to move away from technological innovation.. Technology has advanced so considerably, even in the past several years, where the startup, operating and maintenance of even smaller companies is beyond the comprehension of most tech savvy people. The truth is there are very few individuals completely educated and knowledgeable in the world of IT to be able to provide your small business with anything similar to the support that it needs, whilst satisfying another type of function within your organisation.

You want a specific IT staff, yet for the majority of firms, the expenses and supervision involved with such a venture is way too much to deal with. There are ways you can have your cake (quality support) and eat it too (not pay full time technical professional employees). Put simply, you ought to use outsourcing for your fully managed IT support service.

It really is useful to have tech savvy people accessible in case a few troubles occur, but what if 5 or maybe more troubles appear? Correction of this sort of troubles is over and above almost any one without excellent IT training. What do you do then? Do you call a local consulting firm and pay for emergency break fix work? Do you ask all of your employees to pitch in and try to troubleshoot the problem? Not only is that unfair to your employees, it is dangerous to your business infrastructure.

If and when the time comes to set up and style your IT system, a fully managed IT support service also can make life simpler. You'll be able to bounce thoughts off from your IT team to produce the top response for the company. The sort of knowledge from technicians that really work with these devices regularly may be priceless. You will no longer have to spend hours in front of a computer, searching forums for helpful individuals to assist you. This frees you up to focus on the skills in which you excel.

So do you have to have a fully managed IT support service? How would you believe you'll cope with a technology catastrophe? It does not take much to forfeit your ground out there. The reassurance a fully managed IT support service brings will prove to add benefit for your enterprise everyday.

Small Business Development - It's Time To Dream!

2012-01-13T10:22:00.000-08:00

As I have written in the past, if you build your business around your core values you will attract like-minded people in the form of customers, business partners, and employees.

This month we have the opportunity to reflect on the core values of one Martin Luther King Jr. Martin Luther King Jr. is remembered for so many incredible and positive things, but it is his, "I have a dream!" speech that we think of most.

His speech is the culmination of one man's wonderful example of understanding what you believe, working towards that end, and attracting like-minded people to support you in your quest to serve the greater good.

There is another lesson here for us to reflect on. Martin Luther King's life's work was from the perspective of service, not of sales. In other words, everything he said, thought and accomplished was to "serve" the people he was meant to serve.

His life was not about personal gain (how can I sell more, earn more, grow more, etc.), but rather how much more can I help others (customers, employees, stakeholders, community) live better lives. His "I have a Dream" speech talks about his vision of the future where everyone is better served - not just African-Americans.

To facilitate the transition to wealth, one must stop chasing sales, and customers, but look for more opportunities to serve the people you are meant to serve. Martin Luther King reminded us that our gifts are not for us. the gifts we have are to serve the greater good. In the same light, your business is not for you. It is for the greater good of the people you are meant to serve. You are the conduit that moves your idea into reality for the people you serve, and going forward for the people they serve and ultimately for the greater good of all.

I urge you to spend some time considering the people you are meant to serve, and stop thinking of ways to sell them more, but rather ways to serve them more. If you focus on the many ways you can contribute to their greater good, you will never have to worry about "selling" them more.

It Makes Sense To Make Your Business Greener

2011-12-13T10:27:00.001-08:00

Business owners who want to do their part to help protect the environment have a wide range of options available to them. As an added bonus, many of these strategies can help to reduce the costs of running a business by cutting down on energy consumption and reducing electricity or heating bills.

Energy Efficiency

Energy generation is a major source of carbon emissions. Fortunately, there are a few simple steps you can use to reduce the amount of energy your business uses. Most businesses use electricity for three main purposes: heating or cooling, lighting and running appliances such as computers or cash registers.

To reduce the amount of energy your business uses on heating, make sure that your thermostat is set to a comfortable but not excessive temperature, somewhere between 18 and 21 degrees C. Good insulation helps to preserve heat; check that your insulation is up to date and that you have double-glazed windows.

Lighting is another major source of energy consumption. To reduce the amount of energy our business uses on lighting, replace your existing lightbulbs with energy-efficient bulbs. Although energy-efficient bulbs cost more than regular bulbs, they last longer and use much less electricity, making them cheaper over the long term. In addition, make sure that employees turn off lights when not in use.

Appliances such as computers and cash registers consume large amounts of electricity, even when not in use. Make sure to turn off computer monitors when they are not in use, and to shut down computers at the end of the working day. Other appliances, such as televisions and stereos, are using electricity even when in 'standby' mode, so turn them off at the wall when they are not in use.

These simple steps can help reduce the level of carbon emissions produced by your business, with the added benefit that they will also save money on electricity bills.

Reducing Waste

In addition to cutting down on energy usage, you can help the environment by reducing the amount of waste your business generates. Check what items can be recycled in your area and make sure to separate recyclables from other types of rubbish. Try to buy recycled products such as office paper or wrapping products. In particular, cut down on your use of non-biodegradable packing materials such as polystyrene foam. Biodegradable and recycled options for these types of materials are available. Avoid buying products which have excess packaging wherever possible.

By following these simple steps, you can reduce the impact your business has on the environment, both in terms of atmospheric pollution and waste generation. By making your business greener, you can benefit the environment and save money on business electricty prices at the same time!

Keep a Check on the Budget With Expert Expense Tracking System

2011-12-13T10:27:00.000-08:00

Expense tracking can be regarded as one of the most important part of budget planning for your house. Listing your budgeting makes your financial life much easier and gives you a piece of mind. Tracking your personal expenses can save you many bucks. First make a plan then work on your plan and track all your actual expenses. This can be done by using an expense tracking software.

The idea of creating a budget is usually based on the financial goals and accurate expenditure. Expense tracking is one of the most vital parts of any budget planning because you can't calculate your budget until you know where you are sending your bucks. Expense tracking does take time and little bit of discipline. But without it you can't know where most of your money is flowing or could even lose track of all your monthly budgets. It can be also possible to forget a big chunk of money you spent on something, creating a big hole in your monthly expense. You can either do it manually by traditional pen and paper system or could also use some of the available online billing system that could help you to get all your monthly expense tracking at one place.

So, how to start tracking expenses? This one of the major question asked by many people. In order to start tracking your expenses, first thing you need to do is to gather all your bills, receipts, your credit and debit card bills, and any other expenses. Divide these all short of expenses into simple broad categories. And then divide all these into groups; update your expense catalog daily. Mark down each time you spent a buck and just update the catalog regularly. This is much more effective than saving the receipts and calculating then at the end. At the end of the month you will be getting a clear account of what your spent and how you spent. You can make some adjustments if there is a need.

Keeping track of the expenses is even more difficult if you are running a business. Managing tons of crumpled receipts and keeping track of all the dining, traveling, and other expenses is a cumbersome task. Many business houses are going for time tracking software or expense tracking software to save some valuable time and cash. With the expense software monitoring all your cash flow you can now concentrate more upon your business. There is tons of good online invoicing software or budget tracking software available in the market. Some of the services are also available in the cloud, that doesn't requires any software downloads. This software effectively creates expense reports which you can access online or offline.

The best way to keep track of all the things would be to do it on daily basis. If you keep recording your expenses daily then, you will have less chance to get overwhelmed by numerous receipts at the end of the month. Further you can also increase or decrease the amount spent in a particular category. Overall expert expense tracking system can keep track of your entire monthly budget.

Ethics? We Don't Need No Stinkin' Ethics!

2011-12-13T10:26:00.000-08:00

Ever heard the expression, It's a dog eat dog world out there? How about survival of the fittest? Sounds so competitive in a cave man sort of way does it not? Makes me want to pound on my chest and howl about my conquests in the business world. But is that the way to succeed in business? Try this one "Finders keepers, losers weepers."

Have we as a business community lost our love for our fellow man? Has money replaced the satisfaction of building a business on ethics and fair play? Is it an "all or nothing world" now? I hope not. If so I'll be looking for a cave to hole up in.

Being ethical is now more important than ever in business, especially in a small business. We are all being looked at and judged by our ethics. It doesn't matter what side you vote on, people in general are more cynical and suspicious than ever before. I can't blame them. We've been lied to, scammed, and stolen from now for decades. We've been taught to never trust a stranger, that deals that are too good to be true probably are, and that you "never give a sucker an even break."

So how can you as a small businessperson overcome this? Here are a few points to get you started. I'm sure most of us can add more.

Avoid All Appearances of Wrongdoing

This was a big one with my dad. He pounded and pounded into me that I should be open and above board. That whom I hung around with would shape my reputation and that how I acted in public would be how I would be judged. "Actions speak louder than words," he would say. "So make them tell something good about you." I have to admit, he was right. How you act, the people you associate with and your actions in business tell volumes about your ethics. What are yours saying?

Go the Extra Mile

As the story goes Abraham Lincoln walked many, many miles to return a borrowed book. In other words he bent over backwards to fulfill a commitment to someone else. Have you ever inadvertently short changed a customer and not realized it till they were gone. What did you do next? Good business ethics would have you on the phone or chasing that person down the street.

Practice the Golden Rule

Most of us were taught this at a very young age. We may have even had a plaque in our home with this on it: "Do unto others as you would have them do to you." Remember? It's such a simple premise but so hard for us to live by. Blame it on our "me" society or on whatever, the truth is we all struggle with this one. Why is it so hard to put ourselves in another's shoes? Why can't we see that we all are on the same plane, struggling to get through? Why can't we be charitable naturally? Why does empathy escape us at times? As a businessperson this needs to be priority one in your business ethics. When dealing with the next difficult client or customer put yourself in their shoes and take a look at how you're handling things. It will give you a new perspective on your customer service that won't soon be forgotten.

Only Through Constant Change Can We Succeed

There is no status quo. You can't get to a point in your business life where you just coast. You are either moving forward or sliding backwards, the choice is yours. You can decide to reflect and look inward, change what needs changing and grow your business or you can sit there, do nothing, and wait for your business to crumble around your ears. I hope you choose to grow.

Election Year and the Small Business

2011-12-13T10:24:00.000-08:00

This is election year and may be of great importance to the ongoing existence of your business. This year is not just about abortion, military strife and freedom of speech, it is about how we will do business in the country, for years to come.

Much of Washington, State and local politics is done through business channels. Many businesses, large and small, have lobbyists strategically placed to mold the opinion of many elected officials. Small businesses can use their trade associations to do their lobbying for them.

There are so many different issues to think about, a typical elected official does not have the time or energy to be fully educated on all issues. They depend on their staff and lobbyists to keep them informed of what is important to them and their constituency. One problem with this method of education is that the elected official will get the "reader's digest" version of an issue and will get the slant of the person who is trying to educate them about the issue.

The one big example that we have all heard about is "Obama care". Only a very small fraction of the Washington political machine has ever even read the bill in its entirety. After all, it has 700 directives, 2,471 pages and 1,147,271 words, according to, Americans for Limited Government Research Foundation, Copyright © 2010-2012. I imagine that a lot of the document is boiler plate type wording that even the actual writers didn't read, but did a cut and paste job to get it done.

How could any elected official read and understand such a large document and make an intelligent decision to vote for or against? Well, what happens in a lot of cases, is the elected official votes for or against whatever his/her party favors or opposes.

As a small business owner or manger, you owe it to yourself, your family and your employees to make yourself heard. You need to make a point to contact your elected officials and have your voice heard. You can do this via email, telephone, making a personal visit, attend open meetings, hire a lobbyist, become active in your community and your trade association or even join a Chamber of Commerce, many of whom will perform lobbyist activities.

You never know who else is bending the ear of your elected representative. Others, who take the time to contact their elected official might not have the same agenda as you have. They might not want a road build to help your business but one that will help theirs.

There are so many different issues that can affect the viability of your small business. It can make your head swim. Find the issues that really matter to you and make a point to have your voice heard. Good luck.