Monthly Archives: September 2016

10 Power Moves For Every Smalll Business

The United States loves small businesses – it’s official!

Why is this? Well, small businesses are seen as a positive influence “on the way things are going in this country.” But it’s more than that.

Small businesses are the “heartbeat” of creating value. Either through customer experiences, products, or services. This will be my value added proposition to your company in the form of 10 points… that I believe will be the most useful in establishing integrity, community engagement and a high level of customer service. When was the last time you called a small business and got put through to an automated call center? These seemingly small things come together to create a hugely competitive value proposition – and are the lynchpin of your brand.

1. Determine who needs or wants the product or service you offer.

Identify your target audience and develop ways to engage and interact with them. Ask yourself the questions to narrow down your prospective customer base.

The narrower the definition, the more successful you will be. And don’t stop with identifying your customer, but work to build a relationship and deliver a product/service for which they come back repeatedly. Retaining customers is equally as important as attracting new ones. So ask their opinion on your product/service via printed or online surveys or through conversations.

2. Make your customers/clients comfortable with you.

They need to have a sense that you’ll be creditable and competent. If you don’t meet this standard they’re not going to want to go any further with you. The art of the sale is not a matter of convincing people to buy what you have; it’s finding what hefty want and your ability to deliver.

3. Leverage social media and e-mail marketing.

Social media and e-mail marketing are important tools as a part of an overall balanced media mix for any type of business. It takes you where your customers are. Neither are magic pills, but intelligently and diligently capturing customer data and maintaining a database is a good way to build a foundation for e-mail campaigns. Social media like Facebook, Twitter, and Pinterest are good ways to build a client/fan base, as well as engage existing customers. To be effective, however, it must be continually monitored and updated as well as organic in it’s approach.

4. Know what online resources are available to help you go global.

Find that outlet online that will allow you to plug your product or service into the global market either commercially or government sources. The key service elements that you should be looking for to assist your global expansion platform are market research, trade events, leads, and information on how to export. The Export-Import Bank of the United States provides export financing by assuming credit and country risk. Also, study the topic, Doing business anywhere: The essential Guide to Going Global by Tom Travis may serve as a step by step guide in this arena.

5. Secure capital in this economic climate.

Small business owners are always on the hunt for sources of capital and guidance on how to secure it. Whether hunting for venture capital or an angle investor, you need to have a solid plan in place to reach both types of investor. Know the ins and outs of your business and have at least an executive summary and have a thorough understanding of your business, your competitors, and be able to speak to your unique selling proposition. Build relationships with community banks and always follow the money. Position your company to meet the needs of those industries and sections with business opportunities on the horizon.

6. Develop strategic alliances.

Contractual or information agreements to work together with another entity afford small businesses the opportunity to, “Play with the big boys”, literally. Partnering to form a much larger business allows you to go after much larger contracts-with beneficial gains for both parties. Of course, the objective is to collaborate with someone who can supplement your own capacity.

7. Choose the proper system

If you are starting looking to start a business and you desire a systematic approach them consider franchising or private franchising (more commonly known as home based business). A franchise system provides ongoing support in marketing/advertising, training, and education. The emphasis is on marketing and advertising because while a franchisee can gain financing to stay in business, he or she will fail if potential customers don’t know that the business exists. The ideal franchise situation should provide additional training and support, an education on how to connect with people in your respective city, and how to access business resources in their community. They also help business owners learn about tax breaks and tax credits available.

8. Know your business credit score.

A common mistake new business owners make when seeking small business capital is failing to establish business credit separate from personal credit. Most lenders will not finance your business without a business credit history. Start by establishing bank accounts and securing business credit cards to be used exclusively for your business. Before moving to secure your business loan from a small bank, consider establishing lines of credit with your vendors. Ensure that all sources of business credit are reporting your payment history to the Small Business Financial Exchange. The purpose of this third party entity is to report to all of the business credit agencies on your behalf.

9. Create your own opportunities.

Entrepreneurs need to be a bit more creative and solution- oriented in today’s challenging market place if they want to acquire new customers. Now is the perfect time for idea generation. Target those sectors and industries that are most promising for growth as you utilize government resources to gain that competitive edge!

10. Rethink business

There’s no cookie cutter formula for finding the right balance of time and resources when it comes to focusing on improving your leadership skills, so every entrepreneur will have to determine what works best for them. But particularly when business conditions are poor and competition is fiercer than ever, it’s clear that the old rules of business are outdated. So be prepared to reinvent yourself and the organization. Read books, listen to audios, and commit yourself to daily growth.

Seven Key Features Of A Successful Multilevel Marketing Home Business For A Residual Income

When you are considering a home based business to earn an income, the advantages are pretty obvious; spending more time with your family, saving on transport costs, more free time for yourself, being able to be your own boss, to name just a few.

Once you have decided to build a home based business, the next decision is which business is suitable for you.
After many years involved in home based businesses, I have compiled a list of the features I consider to be important in choosing a business in which to invest time, money and effort.

1. A clear and obvious advantage to join as a basic consumer.

There is no satisfaction in trying to sell snow to the Eskimos! You want a product or service which EVERYBODY wants. You want people to look at what you have to offer and say ‘I can only gain from this’, ‘I love this’, ‘I want this’, ‘I want my family and friends to know about this’. You do not want to spend your time convincing people to buy overpriced products that they would not normally buy. You want to be the bringer of good tidings! Show them an offer they cannot refuse!

2. An established company with a proven track record.

Trust in business can be gained by examining what a particular business has accomplished in the past and what its vision is for the future. The best businesses will have at least five years of continued expansion behind them and a vision to become dominant throughout the world.

Associations with other large companies and endorsements by well-respected businessmen, indicate that a business has been scrutinized and is considered worthy of investment.

It is also important for a business to have its income statements available for public scrutiny. You want to know who is making the money.

3. Simplicity- a business which can suit anybody’s life style.

One of the main reasons you want to be involved in a home based business is for the freedom to live a fulfilling lifestyle. Some people want to work fulltime at their business and some people want to work around other commitments.

4. Strong support and leadership in all aspects of the business.

You will need to learn lots and be open to training and asking advice from those who are already successful. In a good home based business, there will be many resources and people to inspire and support you. There will be webinars, live events and conference calls to help you introduce others to your business.

Good businesses which are taking full advantage of the internet, will offer websites and back offices for people who have joined them.

At the same time you will be developing your own leadership skills as you build a team of your own. You tend to attract those people into your business with whom you want to work.

As your team grows, you benefit from the leverage that other people’s efforts afford.

With any home based business, you will need, at some time, to put in your best effort for a short period of time, usually around three months, to get it off the ground.

5. Transparency in a compensation plan which offers both immediate and long term rewards.

You will want to see an income as soon as possible, even if it is only small, so that you gain confidence in the company’s reliability.

The long term residual income is where you will gain the most benefit. The compensation plan needs to be structured so that it is fair and easily understood. It needs to have incentives to guide you to appropriate goals. It needs to show a step by step progression to earning a substantial income. A good home based business will have tangible rewards at every step of the way.

6. The opportunity to reap amazing rewards for the time and effort invested.

We all have dreams and a good home based business offers the way to achieve these. When we know our vision for the future can be fulfilled, it is easy to commit our resources and to persevere until we reach our goals.

A good business will provide a firm pathway to success. You need to be convinced that you can earn a great income by promoting your chosen company.

7. The opportunity to make a difference in the world. A good business is not just about the money. You need to know that what you are promoting is helping people to help themselves. You need to be fulfilling a need or solving a problem which will enhance the lives of others. Some businesses also support charities and education with their profits which is an indication of good will and a caring management.

Which businesses fit all these criteria?

The type of product or service that you promote is extremely important because it must be something that you are genuinely passionate about.

Health, wellness, weight loss, cosmetics and exercise products are popular MLM businesses because they are part of an expanding market. There are thousands from which to choose, but I have found that many of them promote very expensive products. You will be expected to buy these products for yourself and it can be very difficult to actually make money from the business after covering all your overheads.

Essential services such as electricity and communications are also an expanding market, and offer the feature of providing an essential service that everyone has to buy anyway. It can just be a case of persuading other people to change their provider. It is still difficult to promote these MLMs because there are so many very cheap providers available which are not part of an MLM network. I feel that asking people to pay more for their service is not looking after their best interests.

The best marketing network I have come across is one which offers cash back on all your everyday shopping as well as a huge residual income after you have promoted the business to other people.

How easy is it to offer free life membership to an established international shopping community which can have you receiving cash back on most of your shopping within the first month?