Many small businesses today are undecided whether or not they should have a website to allow customers to purchase products online or further advertise their services. After all, building a website takes both time and money and hiring someone else to do the job for you costs even more. Some business owners may even think that since their company only consists of an employee or two, they really have no need for an online presence. Still other companies may not even want to sell their products online. What one factor do all of these businesses have in common? Believe it or not, they can all benefit from having an online presence. Fortunately today there are web builder tools available that allow even those with little technical skills to design their own website. Best of all, these web builder tools are available at a cost that is affordable to anyone. With options like these, there really is no reason why you shouldn’t have a website to promote your business.
If you think your business is too small to need a website, think again. Even a small business run by just one person can benefit from an online presence. The more people you promote your products and services to, the more sales you are likely to make. Without a web presence, you are losing out on valuable customers. Just like large corporations, small businesses need customers in order to make a profit. If you don’t have a website, you are losing sales to other companies that offer a product similar to yours. Sure building a website will take some time but it will be well worth your effort. There are several small companies today that make the majority of their profits from online sales. Your small business could very well be one of those companies in the future. Why not take the time today to see what types of web builder tools are available? Even though you don’t have to be a Webmaster to use these tools, you can still have a professional looking website that gives your company online credibility. How your site looks to the public is almost as important as the products you offer.
Even companies that do not wish to sell online or those that feel their products would be difficult to market online, can still benefit from using web builder tools to design their sight. First of all, there are not too many products today that aren’t being sold online. With the emergence of bidding sites such as Ebay, even larger items such as automobiles and real estate are being sold. Ecommerce in many cases has become the way to do business. By using web builder tools to design your own site, you can start cashing in on some of this online revenue.
Business owners who don’t wish to sell online may feel a website is a total waste of time and money. However, this couldn’t be farther from the truth. All businesses can benefit from online marketing even if they don’t sell online. By using web builder tools to design a professional looking site, you are making your available products or services known to the public. Just because customers cannot use their credit card to purchase online from your company, many will still be inclined to contact you if you present your products in a professional manner. By giving out your company contact info such as email, fax, phone number, and physical address, customers have a number of methods in which to contact you. It is always a good idea to list your street address even for customers who are located out of state or in a different country. When people see this it often makes them feel more secure about ordering from you. Once customers have contacted you about purchases, you can then make payment arrangements for products. You may wish to receive checks by mail or take their credit card information over the phone to process orders. Some customers may even be within driving distance of your business. By having a website designed with web builder tools, you have made your presence known to customers both in your area and across the country. No matter what your type of business, web builder tools can help you design a site that will increase customer revenue.
Does Every Business Need A Web Presence?
Cash Flow - The Life Blood Of Every Business
The purpose of this article is to familiarize business owners with a kind of financing that is unfamiliar to many people, Factoring. I will explain, in a simple yet comprehensive way, how to improve your company’s cash flow. You may then decide if using the Factoring approach is a sound business decision for your particular situation and needs.
The Life Blood of Every Business
If we were in a room full of small business owners and asked them all, “What is the one thing your business needs the most in order to survive and grow?” we would probably get a variety of answers: “a needed product or service,” “a solid base of loyal customers,” “a well-prepared business plan to chart your course,” “a good location,” or “effective marketing.” All true answers. But in addition to these, there is one need central to every business – that is the need for available CASH. This is where factoring or accounts receivable financing comes into play.
Cash to business is like fuel to a car. You need to have enough in the tank to start the engine and you need to maintain enough in the tank to keep it running. Now the car (your business) will take you where you want to go. If you run out of gas – cash on hand – at any point along the way, well…we all know what will happen.
Where can a business owner obtain the cash he or she needs? Banks, venture capital, private funds of the owner, friends, and relatives are the most common places in turn. However, banks usually want a minimum of two or three years’ worth of business financials before they’ll give a loan. Venture capitalists want part ownership of the business. Not being in business long enough or not being profitable enough to satisfy the banks; and not wanting to give up any ownership; and with private resources already tapped, the business owner may be stuck. “Where can I find that cash to grow my company? I have a good business with loyal customers, I’m profitable or would be with enough cash to fuel the engine; I just need to get over this hump of not enough cash flow. What can I do?”
The answer to this question may be right under your nose and you don’t even know it. If you have accounts receivable with good, solid customers who are credit-worthy, you have something with intrinsic value that other business owners are interested in buying. The cash that can be obtained for your good receivables can be exactly what you need to get over a cash flow crisis.
By selling something you own – your receivables – you’re not generating any debt that must be paid back; and you’re improving your credit stature because you’re converting assets (invoices) into immediate cash. That cash can enable you to save further by getting volume purchase discounts, discounts for cash, create market opportunities, or hire needed staff. And most of all, you can start new and expanded production without waiting for earlier invoices (sales) to be paid.
Setting accounts receivable at a discount is a means of financing called “factoring” or "accounts receivable financing." It’s been around for centuries and is a billion-dollar industry for large businesses today. And it is growing rapidly in popularity with small and medium sized companies. Factoring not only has saved countless businesses from going under, it has provided many more businesses exactly what they need to grow: cash to fuel the engine.
Further Benefits of Factoring
Selling accounts receivable puts you in control of your business like no other form of financing. You control the discount by specifying when the advance is to be made. You can space the advances to create a steady flow of cash. If you don’t need cash now, you can wait to receive the advance and save on the discount (waiting on an advance creates a line of credit).
What’s more important to realize is no debt is created, you have no loans to pay off, you create and keep a cleaner financial statement, your access to cash grows with your business sales, and there is no need to re-apply. Finally, you can stop factoring at any time. There are no long contracts and you only factor the invoices you want. YOU are in control.
Conclusion
Invoice factoring is filling a tremendous void that banks have created. Companies accelerate their profit and thrive whether you are a start up or established business.
Factoring requires, less paperwork than loans and no credit or reference checks of your business and is also faster than tradition bank loans..
Invoice factoring offers businesses tremendous growth opportunities to assist in the management of cash flow and delivers working capital for your business needs.
If you are seeking an invoice factoring company, then Diversified Financial Services is the smart choice. Our Financial Consultants are ready to answer any factoring questions. Call today 800-954-0012.
3 Reasons Why Every Business Needs A Newsletter
There are many benefits you and your business can reap from publishing your own newsletter.
1. Keeping In Touch -- Your customers and clients are the lifeblood of your business. What better way to stay in touch with your existing customers than through a newsletter? A newsletter allows you to add personal touches to your relationship and celebrate milestones, both your own and your client's. In addition to furthering your relationship with your clients, a newsletter can also allow you to introduce new products, offer special sales or discounts to your existing client base, and encourage referrals.
2. Hook In New Customers -- Unless they have an immediate need or came to you through a powerful referral, most potential customers won't buy right away. Often they will shop around and compare which means you will likely never see them again. However if you have a free newsletter that offers interested clients the opportunity to learn more about you, your business, and your products for free and they can also learn more about your interaction with your existing customers. A newsletter can be a very simple strategy to turn a one-time visitor into a lifetime customer.
3. Establish Your Expertise -- No one knows more about your business than you do which makes you an expert. Likely the construction of your own business has further left you with a great deal of expertise in your field. Share your nuggets of knowledge through your newsletter to deepen your relationship with your existing customers and convince potential customers that you are the answer to their problems.
Now that I have convinced you that you need to publish your own newsletter, I want to go over a few questions that budding editors and publishers always ask.
What exactly is an electronic newsletter?
Just like their paper counterparts, electronic newsletters deliver written messages usually relating to a common theme or topic. The main difference is that an electronic newsletter transcends paper and ink and most likely only ever exists on a computer screen.
Some electronic newsletter are delivered only via email while others are delivered only on the web. Most are delivered in some combination of the two. Most of my ezines and newsletters are delivered via email but also available immediately via web page (or rather blog page) and RSS feed.
You can choose the method is most suited to you and your audience.
How do you publish an electronic newsletter?
It is much easier to start publication of your own electronic newsletter than it is to start up a print publication. You simply need to decide on a topic, name your publication and start writing. It is easy to find an audience (beyond your own customer base if you choose) through the various ezine and newsletter directories around the internet as well as going directly to the source, for example discussion boards for people interested in your topic.
You will need to determine a delivery method, which means most likely setting up your own web site or page on your existing web site; creating an archive for your issues once they are created, which could mean setting up a blog; and tracking your readers, which likely means setting up a mailing or autoresponder service. However you can use free tools to do any of these things.
3 Effective Tactics Every Business Should Implement
Do you remember your first day as a business owner? You were probably just like the rest of us... pretty darned happy and bit on the proud side. Yeah, back then we thought we could conquer the world. Now we're too busy conquering our own little corner of the world to pay a lot of attention to the rest of the world... unless it's to learn a few tips from successful marketers just like us who have made it big. Tips just like these... that will apply to every market - regardless of the product or service - are a great motivators to try something new. Yeah, you never know when the next idea will be worth a million dollars!
1. Create a Special Offer
A special offer is exactly that... an offer that is special. Normally, customers would not be able to purchase this product or combination of products, and once the products are gone... sorry!
You don't have to go out and order a bunch of new products to put together a special offer. It don't take a whole lot... just use what you've got. Grab a few items that are related, group them together, discount the price, and your customers will be excited to be getting a good deal. Think about it from your standpoint... you've sold three or four items rather than one. Yeah, combination offers are winning deals for everyone!
2. Address the Small Customer Groups
Niche markets are everywhere, right under your nose! Within the customer audience that you serve right now are groups of people who share common traits. Think about it... maybe you have a group who speaks Spanish, a group of teens, and a group of middle class family men and women.
Evaluate these classes of people, and discover the unique needs and desires they share. That will set you up to customize your advertising campaign directly to them. It's not hard to take your current ads, and make a few changes to adjust to the niches. They'll be impressed that you understand THEM, and the increase in your profits will be the best thanks you can get.
3. Set Up a Winning Referral Program
Successful marketers develop the ability to turn their customers into advocates. Often, they don't even have to directly ask customers to refer them to others. Their willingness to go the extra wins customer loyalty and support. Naturally, satisfied customers refer their friends and family to the place that will take good care of them.
Quality service and is the first step toward referrals, but you can easily take it one step further. Studies show that every satisfied customer tells three people about you. What would happen with a little incentive added to the picture? Yeah, a lot more. Give customers who refer friends a thank you - whether it's a discount, special gift item, or a simple thank you card - and watch the referrals spiral!
You can get two birds with one stone by implimenting customer surveys. A few quick questions about what the customer does and doesn't like about your product, followed by a request for the names and addresses of friends and family who would benefit from the product, and you're all set to go with the contact information of a prospective customer!
3 Tips For Every Woman Starting A Home Based Business - Challenges To Expect, Keys To Succeed
More and more women today work from home, and even more want to. Some are single moms or widows who need to earn a living. Others just want a little extra income or a sense of independence. Particularly for women, starting a home business presents a unique set of challenges. Lesley Spencer, founder and president of Home Based Working Moms (http://HBWM.com), suggests three steps to help ensure success:
1. Consider Your Options
The first obstacle in starting a business is figuring out which one’s right for you. Before making any decisions, find out what’s available to you. Almost anything you can do—whether it’s graphic design, sales and marketing, or administration—you can do from the comfort of your home. Before determining a direction, look at all factors involved:
• Your skills and interests. You’re much more likely to persevere and succeed if you enjoy what you’re doing.
• Your personality. If you’re extremely shy, hosting home parties might not be right for you — even if you really like the product you’re selling. Many women fail because they jump into the first thing they see, and it doesn’t work with their disposition.
• Your needs. How many and what hours can you work? How much money do you have to make? How much flexibility do you need in your schedule?
Once you’ve researched your opportunities and analyzed your skill set, you can make an informed, intelligent decision about which career move is right for you.
2. Make a Conscious Effort to Develop Your Customer Base
Many women are good at what they do, but don’t know how to market themselves to reach customers. Spencer advises, “Make a conscious decision to do something to market your business daily, or at least weekly, whether it’s a mail-out, an email campaign, or offering a special.”
Word-of-mouth referrals mean more business, so focus on doing a good job for the clients you have. Always do follow-up — you want to stay in contact and remind people you’re there. Having a web site, an online presence, is another tool you can use to attract new customers.
3. Don’t Be a Lone Ranger — Find a Support Network
You don’t have to feel alone or try to handle everything yourself — there are many online communities that can provide you with support and advice. Http://HBWM.com, and many online groups, offer what’s called a ListServe that lets you post questions that all members of that site can see and respond to. Says Spencer, “You can save hours of research just by asking someone with experience.” Whatever business you’re in, there’s a forum for it. Seek out people that have already succeeded — find a mentor.
10 Keys That Every Home Based Business Owner Should Implement For Success
1) Attitude--
One very important factor in running a business is your attitude towards it. You should treat your business like a business.
This is very important whether you work your business full-time, or part-time. A very close friend of mine, who is also a colleague, is a mother of 4 who works her home business around her family. In this case, she has put her family first, and at the same time, still been able to develop her business.She works part-time, but she has a full-time attitude. To put it another way, if you have a lacking attitude, you'll have a lacking income. However, if you have a business attitude, you'll have a business income.
Keeping your attitude in mind while running your business is one of the first steps to ensuring your success.
Being successful working part-time on your business, or working full-time, is more than achievable. However in saying that, it is highly unlikely that working in your "spare time" will achieve you success.
2) The Environment In Which You Work--
Keeping with the attitude principles discussed above, it is necessary to remember that while you are working from home, you should make sure that you have a space to call your own; your own "business at home" office, free from distractions.
Keep the theme going with a comfortable office chair, and a well laid-out and organized desk. Stationery supplies will also be of assistance, so be sure to include the following in your "home office":
- Pens
- Highlighter
- Hole Punch
- Stapler
- Sticky Tape
- Note Book(s)
- A system which will enable you to easily and efficiently store your physical files and documents.
- Ring Binders
- Manillia Folders
Do you have a fast internet connection? If not, consider the use of a broadband internet connection. Anything you do will take a certain amount of time, and your time is a very valuable assest. Faster internet means you will have more time for other things.
3) Schedule--
Dividing up your spare time between your business, your family, or your "significant others" will require a carefully planned schedule. Just like office hours in which you would work, when you allocate time for work, make sure that you work during this time. Equally important is to make sure you have time for other commitments - time with your family, exercising, education, and leisure time are all equally important factors in your life. Its also a good idea to keep in mind why you are doing what you are doing. For example, if you are starting your home business to spend more time with your family, you don't want your work time consuming valuable family time.
With a home business, the only "boss" you have is yourself and your schedule. Lets say for instance that you are working during your allocated work time, and you have unexpected visitors, or people calling you. You have to make a choice; are you really commited to running your own business? Are you commited to business success? Your choices in these types of situations will govern whether or not you have a "business attitude", or a "hobby attitude".
However, you may need to adjust the way you make your choices. This is especially true in a family environment. In this instance, it may be necessary to discuss with your partner and/or children an agreed period of time which is classed as business time, in which you will not be interrupted. It may also help to print or write down this schedule and place it somewhere prominent so as to inform all family members of your work schedule.
4) Describing Your Business--
Make sure that when asked about your business, you are able to describe it concisely; a strong and powerful one or two sentence about your business that someone can repeat easily about describing your business to others. A company slogan or "tag line" can also be invaluable for promoting your business; take the time to create a unique and memorable tag line or slogan.
5) Knowledge Of Your Services Or Products--
You now have your product and your service in which you sell, whether or not you actually use your product or service you sell, it is a wise decision to make sure that your knowledge of your product or service is intimate and well-founded. For instance, if you sell ebooks, then ensure you know the content and the value in which it holds; if you sell software, ensure that you know how it works, "inside and out". In doing so, your reputation will develop as someone who provides quality information about a product or service, and because of this knowledge, you yourself can become a preferred supplier.
However, it may not always be practical to use certain products (as an example, a man may choose to sell wedding dresses), in which case the seller wouldn't be a product or service user, though in saying that, the seller can still have extensive knowledge of the product or services benefits and features.
6) Administration--
It is essential to implement good record keeping practices.
This can include tasks such as consulting a tax advisor who can advise you on the best and most optimal way to set up and store your financial records, as well as which records need to be kept. In addition, your advisor could also recommend record keeping systems which can help you in achieving a more efficient and simpler means of organizing this aspect of your business.
You may also be told advice on the most effective arrangments and set ups for your banking necessities. In doing so, you will most likely be advised to seek out seperate bank accounts for your business.
If you use various logins, passwords, and usernames, it would be a wise decision to keep track and store this various information.
The tools and methods in which you track these are varied; from a simple paper notebook to free and commercial software.
7) Protection For Your Computer--
Your computer houses all your important business data, and is also the lifeline of your business dealings. In saying this, it is vital that you protect your computer.
Pieces of software such as virus scanners, personal firewalls, anti-spyware and adware, and even an email scanner, should all be implemented to help with the protection of your computer.
8) Obtaining A Domain Name--
For any home-based, online business, it is more than just essential to have a domain name for your business, it is vital. There are many domain registrar companies out there. Take your pick.
9) Processing Of Your Payments--
Any online business will need to the ability to accept payments. Payment processors such as Paypal, 2Checkout, and Clickbank, all offer multiple ways to accept payment, including the ability to accept credit card payments online.
As an online business just starting out, this is the most effective, effecient, and economical way to get started in accepting online payments. As your business starts to grow and develop, it may be necessary to look into obtaining your own merchant account for transactions.
Also, it may be worth while taking into account other forms of currency online, such as eGold.
10) Email Accounts--
The more professional and trusted your online home business appears, the more likely your customers are going to do business with you. One of the most easiest and simplest ways to do this, is to use an associated email account. After obtaining your own domain, it is possible to create your very own associated email account.
Final Comments--
In finishing, I'd like to leave you with the following comments regarding the running and owning of your internet business. Conduct your business ethically, ensure that your customers receive the best service, and be proud to put your name to the products and/or services that you sell, and you will soon seen the fruits of your efforts. Taking into account this last statement, and the above 10 key points, you'll find yourself on track to developing a trusted, professional, and sustainable long term internet business.
Business Marketing Mistakes: 3 Biggest Marketing Mistakes Every Business Manager Makes
Who hasn’t let a typo slip by or misspelled the CEO’s name or printed the wrong phone number somewhere? Those marketing mistakes don’t warrant an article. In fact, just one word of how-to-fix-it advice is sufficient: proofread!
Here are a few more important marketing mistakes that just about every business manager out there makes, along with a recommended fix that will help you attract more business and get better results from your marketing, regardless of how big or small your marketing budget is.
Mistake #1: We think that marketing is something we 'do'.
"We need to do some marketing." It’s the first thing you think when you need to boost business. Problem is, when you think of marketing as something you 'do', you’re usually thinking about publicity, direct mail, flyers, email, ads and promotion. Marketing is much more than merely promotion, and it’s rarely a quick fix.
The real fix is to expand your definition of marketing. Instead of thinking of it as something you 'do', think of marketing as anything that helps or hinders the sale or use of your product or service. This includes: your location, the attitudes of the person who answers the phone, your name, pricing, policies, proposals, personality and more.
Before you write a promotional word, do a 'help or hinder' once-over. Make a list of what’s helping you attract business and what’s getting in the way. Figure out what obstacles you can quickly fix or remove? What 'helps' can you enhance or spotlight? Until the help-or-hinder homework is done, working on promotion is premature.
Mistake #2: We breathe too much of our own exhaust.
We are such big believers in our businesses that we can’t wait to show it off. We admire our attributes and inhale our excellence. Then we exhale it all into our marketing communications. The problem is, when you do that, your marketing is all about you. And people don’t care about you. They care about themselves.
If your marketing is going to get any response at all, the first thing it must do is connect to something prospects care about. Connect before you convince. Try this four-step exercise:
1. Describe your products and services. Get the exhaust fumes out.
2. Identify one or two attributes or attraction factors.
3. What is the benefit, the need or the want, that is satisfied by those attributes?
4. Why is that benefit important, personally, to the target audience?
For example, Joy dishwashing liquid (descprition) has real lemon (attribute) that cuts grease and leaves dishes shinier (benefit). What a nice reflection on you! (Connects to what a mother cares about.) Connect to what people want. Not to what you do.
Mistake #3: We all look alike.
A bank is a bank is a bank. Realtors, lawyers and consultants are a dime a dozen. The list goes on. But here’s the good news: the more two businesses look alike, the more important each difference becomes, and the more impact even the tiniest difference will have on setting you apart. Why?
Consider identical twins. What’s the first thing you do when you meet a pair? You try to find a little something to tell them apart. The same is true for your business. Your prospects are looking for a point of difference (just about anything )they can use to set you apart from your competition.
To find your points of difference, start with your points of contact, or 'touch points' in your company. Make a list. Business card, fax cover sheet, invoice, phone greeting, front door, home page, etc. Then look at what the competition does and ask yourself how you can do it differently. Just a little bit will make a big difference, because your prospects are looking for them.
For now, try the Help or Hinder, Connect Before You Convince and Find Your Points of Difference tools to make your marketing more meaningful and effective. Be wary, too, of unrealistic expectations, faulty research, deadly bullet points and lack of follow through-- four other common marketing mistakes.