Times are tough - especially for those budding entrepreneurs looking to get their business off the ground. While the state of the economy should never be a deterrent in starting a small business (regardless if the economy is up or down - people and businesses still need to consume goods and services); down economies do have some effect on the business owners ability to find and obtain capital for their ventures.
But, all is not lost if your personal credit is a bit lacking.
Most business owners usually have some types of capital to put into their business - be it from personal savings, retirement accounts or loans from friends and family. But, they usually do not have all the funds necessary to launch their business and tend to struggle with allocating the money they do have to the numerous start-up expenses they will encounter.
Plus, bad credit (or even no credit) will make it very difficult for business owners to obtain unsecured working capital for items like marketing, payroll, or even office supplies.
I have always believed that whatever liquid capital (cash on hand) a business owners has walking into a new venture should be used for the overall development and growth of the business - it's essentially like putting in your own venture capital. However, this method of allocation usually leaves little if not 'no' additional money for other items businesses need for their operations to include tools and machinery to provide their goods or services, inventory, rent, or even office equipment including computers, copiers or even vehicles - items used in the day to day life of all businesses.
But, there are other ways that business owners can get these items even if the entrepreneur has bad credit.
For unsecured working capital, business owners can use the numerous social lending sites that have proliferated the Internet over the last decade or so. Social Lending is essentially where member borrow and lend to each other. Gaining access to capital for these sources tends to be easier to obtain as you get to tell your story directly to funders. Further, rates of these types of loans are usually lower than traditional bank lending. While considered personal loans, the funds received here can be used for any purpose including starting and running your business.
There are also Micro-Credit organizations whose whole purpose is to help new and growing businesses obtain capital after they have been turned down by traditional lenders like banks. These organizations are typically non-profit groups, backed by the SBA, and understand the trials that business owners face when trying to get their business venture off the ground. Plus, they offer a plethora of guidance to help ensure your long-term success.
Many new small businesses need all types of equipment for their business - from standard office equipment like computers and copy machines to tools and machinery that allow them to make or provide their products and services. There are equipment lenders that only provide these types of loans. They work with new start-ups and are extremely flexible in developing programs that can meet these businesses specific needs and while these loans and leases are secured by collateral (the equipment) there is less emphasis put on personal credit histories.
Further, a start-up business is considered a business in operation under one year. During this time, many businesses generate financial assets - but still find themselves lacking working capital as they grow. However, these assets can be used to secure financing, either to speed up the flow of payments, to complete current jobs or orders, or to get the funding needed for payroll or additional marketing.
These capital resources include factoring a business's receivables (why wait 30, 60 or 90 days to get paid by your customers- when you have bills that need to be paid now) or purchase order financing where your business can receive cash to complete jobs that are already in the works or funds to bid on jobs that would have otherwise eluded your business due to lack of working capital. And lastly, business cash advances for businesses that accept credit card payments from their customers allowing them to leverage future sales for growth capital today. The real bonus about there types of financing options is that they are not focused on the business owner's personal credit history but more on the strength of the asset.
Moreover, given our government's propensity to help people get back to work (most new jobs are created by small businesses) there has been an influx of new government and private grants to help people in need - including business owners.
Lastly, should a business owner still face difficulties due to credit issues - then the only step remaining is to eliminate those issues. While bankruptcy and credit counseling will continue to harm your credit after you complete these programs, there are other ways like debt consolidation that can reduce your unsecured debt (including credit card debt) into one, low, affordable payment. Allowing the business owner to free up current cash flow as well as improve their credit scores.
While most lenders tend to weed out potential borrowers through credit profiling - leaving many new business owners in limbo - the resources listed above are design to fill the lending gap that is crippling our nation and geared to help all business owners - regardless of past credit mistakes.
Joseph Lizio | businessknowhow
Showing posts with label Business and Finance. Show all posts
Showing posts with label Business and Finance. Show all posts
Friday, July 17, 2009
Wednesday, May 27, 2009
How Businesses Can Prosper, Even Now
Many Americans are hunkering down, but even a grinding recession presents chances to get ahead--and maybe even earn your fortune. The very disruptions causing pain for many workers--spending cutbacks, layoffs, and corporate bankruptcies--often create openings for others. To figure out where to look, I asked William Sahlman of Harvard Business School, an expert on entrepreneurship. Some of his observations:
Creative destruction, like we're seeing now, generates opportunities, right? Do you see new opportunities forming? There's always been a yin and yang of opportunity. One person's crisis is another's opportunity. If you're a buyer of assets in distress, for example, you're able to pick up companies you may never see again at these prices. Right now there's $8 trillion or $9 trillion of cash sitting on the sidelines. People are waiting for signs so compelling that they're willing to go back in.
What are some of the best opportunities you see? Healthcare and education are growing, in terms of fields to work in. And in terms of getting education, the opportunity cost of that is going down, since jobs are harder to find. I know that applications to Harvard Business School are up, for example.
What other fields could be good growth areas? There are enormous opportunities related to energy. Insulation: Believe it or not, that's the highest return on investment related to carbon. Solar. Improving the electrical grid. Biofuels. The biggest problem with energy is that oil's at under 60 bucks a barrel. That destroys the incentive to innovate. I'd almost rather see a fixed price for oil higher than today.
Interesting. That's something a lot of auto executives would like to see as well. With prices that go up and down, we've wiped out predictability. If you're trying to make the case for investing in alternative fuels, you'd like to be able to put a floor under the price of biofuels.
But overall I'm extremely optimistic about the future of science. There's more reason than ever to think there will be technology advances. For one thing, we need them more. Things like poverty and the environment, these are things viewed best as opportunities for technology to solve problems.
I also think you're going to see a lot more kids going into social enterprises like Year Up or Teach for America, something they wouldn't otherwise have done.
Some people are able to remake themselves during times of transition, like we're in now. Can that happen in banking and finance? That seems to be one part of the economy that's under a lot of stress, and likely to change. We will need financial institutions that are effectively restarts. More community banks. The challenge is getting money. In the short run, we're not going to see the rebuilding of the financial system. People with capital are going to put it into distressed debt, not into new banks.
Yeah, you hear of the lot of big investors talking about the riches to be made in distressed debt these days. Is there any way for ordinary people to get in on that? Not really. Unfortunately, distressed debt is a complete insiders game.
If you're trying to find opportunity on an economic landscape that looks pretty barren, what are some things you need to think about? If you can lower the cost of doing things, this may be a great time for disruptive technologies. There are also opportunities to compete on price, as long as you have an acceptable level of quality.
The challenge with retail products is, we're over-retailed. But online firms like eBay should do well, because it cuts out the middleman. Amazon is another one.
People have to cut back, use less leverage, rely on lower incomes. That means renting Kate Spade bags instead of buying them. If you can be the one who rents those bags, it will make you very competitive.
Do you think the recession will get a lot worse? Or are we getting close to a bottom? We're closer to the bottom. I'm optimistic that we'll pull out of this, but not before the housing market stabilizes. The problem is uncertainty about where house prices will go, not where they end up. And all of it is related to trust and confidence in the idea that tomorrow will be a better day.
source : Rick Newman - finance.yahoo.com
Creative destruction, like we're seeing now, generates opportunities, right? Do you see new opportunities forming? There's always been a yin and yang of opportunity. One person's crisis is another's opportunity. If you're a buyer of assets in distress, for example, you're able to pick up companies you may never see again at these prices. Right now there's $8 trillion or $9 trillion of cash sitting on the sidelines. People are waiting for signs so compelling that they're willing to go back in.
What are some of the best opportunities you see? Healthcare and education are growing, in terms of fields to work in. And in terms of getting education, the opportunity cost of that is going down, since jobs are harder to find. I know that applications to Harvard Business School are up, for example.
What other fields could be good growth areas? There are enormous opportunities related to energy. Insulation: Believe it or not, that's the highest return on investment related to carbon. Solar. Improving the electrical grid. Biofuels. The biggest problem with energy is that oil's at under 60 bucks a barrel. That destroys the incentive to innovate. I'd almost rather see a fixed price for oil higher than today.
Interesting. That's something a lot of auto executives would like to see as well. With prices that go up and down, we've wiped out predictability. If you're trying to make the case for investing in alternative fuels, you'd like to be able to put a floor under the price of biofuels.
But overall I'm extremely optimistic about the future of science. There's more reason than ever to think there will be technology advances. For one thing, we need them more. Things like poverty and the environment, these are things viewed best as opportunities for technology to solve problems.
I also think you're going to see a lot more kids going into social enterprises like Year Up or Teach for America, something they wouldn't otherwise have done.
Some people are able to remake themselves during times of transition, like we're in now. Can that happen in banking and finance? That seems to be one part of the economy that's under a lot of stress, and likely to change. We will need financial institutions that are effectively restarts. More community banks. The challenge is getting money. In the short run, we're not going to see the rebuilding of the financial system. People with capital are going to put it into distressed debt, not into new banks.
Yeah, you hear of the lot of big investors talking about the riches to be made in distressed debt these days. Is there any way for ordinary people to get in on that? Not really. Unfortunately, distressed debt is a complete insiders game.
If you're trying to find opportunity on an economic landscape that looks pretty barren, what are some things you need to think about? If you can lower the cost of doing things, this may be a great time for disruptive technologies. There are also opportunities to compete on price, as long as you have an acceptable level of quality.
The challenge with retail products is, we're over-retailed. But online firms like eBay should do well, because it cuts out the middleman. Amazon is another one.
People have to cut back, use less leverage, rely on lower incomes. That means renting Kate Spade bags instead of buying them. If you can be the one who rents those bags, it will make you very competitive.
Do you think the recession will get a lot worse? Or are we getting close to a bottom? We're closer to the bottom. I'm optimistic that we'll pull out of this, but not before the housing market stabilizes. The problem is uncertainty about where house prices will go, not where they end up. And all of it is related to trust and confidence in the idea that tomorrow will be a better day.
source : Rick Newman - finance.yahoo.com
Monday, May 25, 2009
How You Can Qualify for a Business Loan
With the recent turmoil in the financial markets, banks and other financial institutions (called lenders) are further tightening their purse strings, especially to small businesses.
So, let's review the major factors that lenders always consider. If you and your business are strong in ALL of these categories, your chances of approval improve considerably.
Ability and Willingness to Repay:
First things first. You must be able to demonstrate your company's ability and willingness to repay a loan. Your ability to repay essentially means that your business is generating enough positive cash flow to pay the monthly payment as well as cover your general operating expenses. This positive cash flow can come from your normal operations or from some other source like purchase orders or signed contracts for a specific job.
Lenders also like to see that you and your business have paid past bills and loans as agreed and on time. This is typically accomplished by reviewing your credit reports. Yes, all lenders will review the personal credit reports of the owners of a company as well as those of the business, if any. Lenders may also call on your suppliers and other vendors to see how you have paid them in the past.
In the event that your company is seeking a loan to complete a specific job, the lender may also check the credit and past payment history of the person or organization that contracted you to complete the specific job.
FICO scores below 640 are immediate grounds for denial. FICO score should be in the 700s or higher. Anything in between is questionable.
Lastly, if your business is already carrying a lot of debt, lenders may baulk at your request. Lenders feel that you are simply working to repay loans instead of building the future of your company. The more you rely on debt, instead of equity, to finance your business the more risk you face and the higher risk for the lender. A quick look would be to divide total liabilities to equity. Anything 3.00 of higher is a big red flag.
If your credit or your business's credit has blemishes, you have two options. First, if the blemish was based on a unique situation, say medical bills, explain this situation up front. Being honest with your lender will go a long way in building trust and credibility. Second, before applying for a loan, work diligently to repair your credit. I would suggest starting with the credit reporting bureaus first. If you then think this is outside your expertise or just do not have the time, contact an organization that can help. A quick search engine search is all you need to get started.
Collateral:
Lenders typically like to see three (3) sources of repayment. The first and most important is cash flow - described above. Second, is usually based on the collateral securing the loan. Lenders look for assets that have resell values that meet or exceed the amount of the loan. Should the loan not have specific collateral (like an equipment loan) or is under collateralized, the lender will require a blanket lien against all the business's assets. As a third source, lenders typically turn to personal guarantees. This shows the lender that the business owners are willing to risk their own personal assets to grow the business. So, be willing to provide your potential lender with at least three sources of collateral.
Owners Expertise:
Regardless of your business concept, if you cannot execute your plan, it will never work. Your business must demonstrate that the owners have the necessary expertise to run and grow this type of business. Managing a medical office does not necessary mean that you can design, produce, and sell software. If the business owners cannot specifically demonstrate that they have skills in marketing, management, finance, and accounting, then they must show that they have either hired these skills in house or outsourced these tasks.
If you and your business strongly meet all of these criteria, then you have a better than average chance of getting funded. Always remember, you will and should be turned down by many lenders before getting approved. Don't ever take rejection personally.
by Joseph Lizio
source : businessknowhow.com
So, let's review the major factors that lenders always consider. If you and your business are strong in ALL of these categories, your chances of approval improve considerably.
Ability and Willingness to Repay:
First things first. You must be able to demonstrate your company's ability and willingness to repay a loan. Your ability to repay essentially means that your business is generating enough positive cash flow to pay the monthly payment as well as cover your general operating expenses. This positive cash flow can come from your normal operations or from some other source like purchase orders or signed contracts for a specific job.
Lenders also like to see that you and your business have paid past bills and loans as agreed and on time. This is typically accomplished by reviewing your credit reports. Yes, all lenders will review the personal credit reports of the owners of a company as well as those of the business, if any. Lenders may also call on your suppliers and other vendors to see how you have paid them in the past.
In the event that your company is seeking a loan to complete a specific job, the lender may also check the credit and past payment history of the person or organization that contracted you to complete the specific job.
FICO scores below 640 are immediate grounds for denial. FICO score should be in the 700s or higher. Anything in between is questionable.
Lastly, if your business is already carrying a lot of debt, lenders may baulk at your request. Lenders feel that you are simply working to repay loans instead of building the future of your company. The more you rely on debt, instead of equity, to finance your business the more risk you face and the higher risk for the lender. A quick look would be to divide total liabilities to equity. Anything 3.00 of higher is a big red flag.
If your credit or your business's credit has blemishes, you have two options. First, if the blemish was based on a unique situation, say medical bills, explain this situation up front. Being honest with your lender will go a long way in building trust and credibility. Second, before applying for a loan, work diligently to repair your credit. I would suggest starting with the credit reporting bureaus first. If you then think this is outside your expertise or just do not have the time, contact an organization that can help. A quick search engine search is all you need to get started.
Collateral:
Lenders typically like to see three (3) sources of repayment. The first and most important is cash flow - described above. Second, is usually based on the collateral securing the loan. Lenders look for assets that have resell values that meet or exceed the amount of the loan. Should the loan not have specific collateral (like an equipment loan) or is under collateralized, the lender will require a blanket lien against all the business's assets. As a third source, lenders typically turn to personal guarantees. This shows the lender that the business owners are willing to risk their own personal assets to grow the business. So, be willing to provide your potential lender with at least three sources of collateral.
Owners Expertise:
Regardless of your business concept, if you cannot execute your plan, it will never work. Your business must demonstrate that the owners have the necessary expertise to run and grow this type of business. Managing a medical office does not necessary mean that you can design, produce, and sell software. If the business owners cannot specifically demonstrate that they have skills in marketing, management, finance, and accounting, then they must show that they have either hired these skills in house or outsourced these tasks.
If you and your business strongly meet all of these criteria, then you have a better than average chance of getting funded. Always remember, you will and should be turned down by many lenders before getting approved. Don't ever take rejection personally.
by Joseph Lizio
source : businessknowhow.com
Saturday, May 9, 2009
Tips for Free Business Advertising Online
To reduce overhead and thus increas profits, many internet-based businesses look to free advertising online for their customers or clients. Even if you have a large marketing budget, fnding free traffic to your website or blog is a smart business decision.
Why not save money on something your company needs? The following tips for free business advertising online will help you expand your income without hassle or expense.
Why not save money on something your company needs? The following tips for free business advertising online will help you expand your income without hassle or expense.
Posting classified ads has always been an effective way of getting customer and clients to any business. The same holds true for internet-based companies seeking traffic for their website or blog. Post classified ads on the most popular advertising website such as Craigslist and USFreeAds for maximum effectiveness.
Classified ads must be written to target a specific problem that your product or service solves. Use guarantees, inspiring calls to action, and effective contact information to get the best results.
Free Business Advertising Online - Article Marketing
Article marketing is the process of writing keyword-specific articles and submitting them to directories where people can read them and click through to your website from a link in the author's biography. Article marketing is touted as the most effective of free business advertising methods.
By writing four to six hundred word, informative articles, and distributing them to directories, you can virally spread your included link across the web as others utilize your writing.
Free Business Advertising Online - Blog Comments
Finding and commenting on blog posts that have to do with your website topic, products, or services can increase the reach of your marketing efforts and create a name for your business online. Never spam other's blogs with excessive posting. Instead, engage in intelligent exchange about the topic in the post you comment on.
Like blog comment posting, forum posting can be an effective free business advertising online method. Not only can you get the link to your website or blog out in front of many new potential customers or clients, you can impress others with your professionalism, expertise, or
personality.
Free business advertising online can be an effective way to increase targeted website or blog traffic without the need for an extensive marketing budget. The most important thing to remember with free business advertising online, or indeed any marketing methods, is to work continuously at getting the name, reputation, and links for your website or blog out into the online world. While paid advertising may be quicker at delivering traffic, free methods are just as effective in the long run.
source : Melanie Martien - associatedcontent.com
Saturday, April 25, 2009
Sales of Microsoft Descending Drastic
Global economic crisis has not stopped the company pick-large. This time, the software giant Microsoft reported that the sale of products in the first 3 months in 2009 down 6 percent compared to year ago.
Quoted from the BBC this is the first quarterly decline in revenue that Microsoft override in the history of 23 years age as a public company.
Largest software producer in the world explain the amount of profits down 32 percent to U.S. $ 2.98 billion. The sales had fallen to U.S. $ 13.65 billion.
The biggest profits come from products larisnya Windows operating system and software business. However, over the global economic crisis, demand for personal computers declined, so the more effect on Microsoft.
In fact, Chris Liddell as Chief Financial Officer of Microsoft says business prospects in the upcoming quarter is also not possible in accordance with expectations.
Anticipate that, so Microsoft is a public company in 1986 continue to find a way to save the company. One is to do with PHK on employees who have been realized some time ago
source : detikinet
Thursday, April 9, 2009
Looking Good For Business
While looking good and youthful is important to a relationship, up-keeping oneself for the sake of one's own business is even more important. Let me remind you that it's almost close to impossible to change a first impression. Even if the impression changes once the person gets to know you better, the first impression almost always remains at the back of the mind of that person. Here are a couple of reminders for business people who place importance on deal-closing
Never look unkempt
You know how some office workers can wear unironed clothing to the office because they don't need to step a foot out of the front door? Well, for business people, you don't fit into this category. You've got to remember that when you're in business, you're consistently selling yourself in the form of your business services, products and branding. You can never risk looking like the cat dragged your clothes in through the door that morning because you'll never know when a potential customer might pop their heads around. Wear only ironed clothes that look absolutely smashing on you. Even if the clothes is nothing to shout about, at the very least, what you have on your back is neat and presentable.
Avoid smells like the insides of a beer bottles
Happy Hour was fun but you should never turn up at your customer's office smelling like the fun never stopped. Nothing turns people off more than someone whose odor they have trouble tolerating. In fact, you could be wearing a high-fashion clothing and totting around the most expensive handbag in your closet and it would bear no meaning at all if they thought you smelled nasty.
If you didn't get up in time for a shower in the morning, be sure to dab on a little bit of your perfume or cologne before heading out.
Look and behave in an energetic manner
People, regardless of their background, love meeting with energetic people who have boundless enthusiasm for whatever it is that they're trying to sell. If you don't feel all too enthusiastic this morning, do a little jig, put on the aromatherapy, wear your favorite earring or take a bite off the chocolate bar to put the jog back into your stride. The whole world doesn't need to know that you're having a bad day.
I've always believed that if people put in a little bit more effort into looking presentable and good, they automatically look a little younger. Fragrances help, so, splash on a little bit of your favorite perfume before heading out.
by Stephanie Younger
source : ezinearticles
Never look unkempt
You know how some office workers can wear unironed clothing to the office because they don't need to step a foot out of the front door? Well, for business people, you don't fit into this category. You've got to remember that when you're in business, you're consistently selling yourself in the form of your business services, products and branding. You can never risk looking like the cat dragged your clothes in through the door that morning because you'll never know when a potential customer might pop their heads around. Wear only ironed clothes that look absolutely smashing on you. Even if the clothes is nothing to shout about, at the very least, what you have on your back is neat and presentable.
Avoid smells like the insides of a beer bottles
Happy Hour was fun but you should never turn up at your customer's office smelling like the fun never stopped. Nothing turns people off more than someone whose odor they have trouble tolerating. In fact, you could be wearing a high-fashion clothing and totting around the most expensive handbag in your closet and it would bear no meaning at all if they thought you smelled nasty.
If you didn't get up in time for a shower in the morning, be sure to dab on a little bit of your perfume or cologne before heading out.
Look and behave in an energetic manner
People, regardless of their background, love meeting with energetic people who have boundless enthusiasm for whatever it is that they're trying to sell. If you don't feel all too enthusiastic this morning, do a little jig, put on the aromatherapy, wear your favorite earring or take a bite off the chocolate bar to put the jog back into your stride. The whole world doesn't need to know that you're having a bad day.
I've always believed that if people put in a little bit more effort into looking presentable and good, they automatically look a little younger. Fragrances help, so, splash on a little bit of your favorite perfume before heading out.
by Stephanie Younger
source : ezinearticles
Tuesday, April 7, 2009
Building a Successful Business - How to Move Past the Need For Perfection
If you are like most people you probably want to do "a good job" meaning you want to deliver a piece of work that you feel good about and that will meet your customers need. That is great. However, many people are holding themselves back because they believe they have to do a more than perfect job. This quite often results in not getting the work done at all. In this article I will explore our relationship to "perfection" and also how choosing completion over perfection will move you ahead and create great results.
A friend of mine is a very talented graphics designer. She has done numerous of work that really is outstanding within her field. However, sometime ago as business was slowing down she was made redundant by her boss. She has now decided to start up her own business.
The problem is, however, that my friend seems to be "the best kept secret in the world" that I know of. To start with she does not have a webpage or a simple business card which does not make it easy for her to approach future customers. Moreover even if potential customers wanted her work they would not know how to find her.
So, why is my friend procrastinating something that she clearly wants and is capable of doing? The answer is very simple. My friend believes that her website has to be nothing less that perfect otherwise she will not want to get it out there. So far the result is not what she wants. She has no customers. This is obviously not a situation that my friend or any other business owner wants to be in.
This is a very simplified example although from my experience as a coach I do not think my friend is very much different from a lot of other people who wants to start up their own business. Of all the reasons that are holding people back I have found the need for perfection to take first prize.
So what is this thing about wanting perfection?
First let me state that from my point of view perfection is an illusion that mostly serve to hold us back. Please do not get me wrong. Like I said we all want to do a good job. That is honourable, it helps make the world go round and I highly respect that. However, the need for perfection is different from doing a great job. The need for perfection is to aim for something that simply does not exists and therefore a great way to hold yourself back.
So what do I mean by saying that perfection does not exist?
Well, in reality if something was "just perfect" it would mean that there was no room for improvement. This simply is not true. No matter how great a piece of work there will always be some room for improvement. You may choose not to improve your work but fortunately the room for improvement will always be there. The room for improvement is what motivates us and help us to develop further so that hopefully we continue to grow.
Following are a few questions that I suggest you ask yourself in order to move past your need for perfection:
1. What exactly is my relationship to perfection?
2. Does this perspective serve me in getting my work done?
3. Are there other perspectives that would serve me better?
I have found that the following perspectives have served me and others very well in creating great results:
1. I choose completion over perfection
2. Done is better than perfect
3. Good enough quite often really is good enough
4. Good enough may be viewed "great" by others
5. Perfection is highly overrated growing is better
Interested in growing green business and make valuable connection to the Danish market? Get instant access to your own free copy of "Going Green is Gold" how to grow green business across the Atlantics at http://www.wake2life.com
Michala Storm guides solo-prenenurs/small business worldwide to create sustainable business visions and make them happen. Michalas specialty is connecting US entrepreneours to the Danish Market. Michala has a background as solo-preneour of green business, author as well as several coaching, marketing- and business degrees.
By: Michala Storm
source : ezinearticles
A friend of mine is a very talented graphics designer. She has done numerous of work that really is outstanding within her field. However, sometime ago as business was slowing down she was made redundant by her boss. She has now decided to start up her own business.
The problem is, however, that my friend seems to be "the best kept secret in the world" that I know of. To start with she does not have a webpage or a simple business card which does not make it easy for her to approach future customers. Moreover even if potential customers wanted her work they would not know how to find her.
So, why is my friend procrastinating something that she clearly wants and is capable of doing? The answer is very simple. My friend believes that her website has to be nothing less that perfect otherwise she will not want to get it out there. So far the result is not what she wants. She has no customers. This is obviously not a situation that my friend or any other business owner wants to be in.
This is a very simplified example although from my experience as a coach I do not think my friend is very much different from a lot of other people who wants to start up their own business. Of all the reasons that are holding people back I have found the need for perfection to take first prize.
So what is this thing about wanting perfection?
First let me state that from my point of view perfection is an illusion that mostly serve to hold us back. Please do not get me wrong. Like I said we all want to do a good job. That is honourable, it helps make the world go round and I highly respect that. However, the need for perfection is different from doing a great job. The need for perfection is to aim for something that simply does not exists and therefore a great way to hold yourself back.
So what do I mean by saying that perfection does not exist?
Well, in reality if something was "just perfect" it would mean that there was no room for improvement. This simply is not true. No matter how great a piece of work there will always be some room for improvement. You may choose not to improve your work but fortunately the room for improvement will always be there. The room for improvement is what motivates us and help us to develop further so that hopefully we continue to grow.
Following are a few questions that I suggest you ask yourself in order to move past your need for perfection:
1. What exactly is my relationship to perfection?
2. Does this perspective serve me in getting my work done?
3. Are there other perspectives that would serve me better?
I have found that the following perspectives have served me and others very well in creating great results:
1. I choose completion over perfection
2. Done is better than perfect
3. Good enough quite often really is good enough
4. Good enough may be viewed "great" by others
5. Perfection is highly overrated growing is better
Interested in growing green business and make valuable connection to the Danish market? Get instant access to your own free copy of "Going Green is Gold" how to grow green business across the Atlantics at http://www.wake2life.com
Michala Storm guides solo-prenenurs/small business worldwide to create sustainable business visions and make them happen. Michalas specialty is connecting US entrepreneours to the Danish Market. Michala has a background as solo-preneour of green business, author as well as several coaching, marketing- and business degrees.
By: Michala Storm
source : ezinearticles
Monday, April 6, 2009
Marketing Strategy in the Business Perspective
Marketing strategies that can be used to sell the product your business:
Conventional Sales
Sales of the ordinary going on in each hand (resellers) will reach the destiny of the product sold. For example the product is sold in shops or supermarkets.
Consignment
Often used many vendors or company or with a kind sale. Company menitipjualkan their product to the reseller. Examples are books in a large bookstore, or eat a big stall.
Direst Selling
Is a sales strategy to market products directly to consumers, no longer passing through the hands per hand. For example credit card offers, insurance, membership card, a bank product, and so forth.
Telemarketing
Means selling long distance, usually to the sales through focused sound. For example a bank credit card issuer or a large computer company.
Member Get Member (MGM)
Strategies that take advantage of consumers who have to reach new consumers. Nearly all the publisher or the phone company had to use this trick.
Cross Selling
Means to sell product to the consumer the same directly. Almost the same as MGM, which is more focused to the customer.
Take One Boxes
Sales strategy is simple, but very effective, because this method always standby all the time and cost little. For example in the preferred credit card, membership, property and spread with brochures and application form.
TV Shopping
Means that the sales through television. For example in Indonesia, have DRTV media or other TV shopping.
Mail Order
Is the sales made through postal mail or post. Examples are the sale of product accessories, beauty accessories, and others.
Phone Shopping
There is no direct power marketers such as telemarketing, the only sales that receive the phone. Almost similar to the mail order, just phone payment shopping through cash, credit cards or transfer after goods received.
Referral Company
Strategies that take advantage of other companies whose products vary, but there is a relation akan marketed product from your company. For example computer store that offers the service ISP (Internet Service Provider).
Multi Level Marketing (MLM)
Many tips for running MLM strategy. However, most importantly, if it is to follow a MLM network, there is no restriction for the other MLM.
E-Commerce
Sales strategy through the Internet, without a product even if it offered even. For example beritanet.com, andipublisher.com, and so forth.
Affiliate Program
Sales program is that the site banner ad company to other companies. The affiliate program is also called the company referral era virtual world.
Viral Marketing
Program is a combination of network marketing and the Internet. Marketing is not MLM, not just e-commerce, and implemented in an offline and online.
Source: Book "Selling Art: Business Perspective, Ide-Ide Sales And Marketing Strategies"
Author: Ali Arifin
Publisher: Andi Offset
Conventional Sales
Sales of the ordinary going on in each hand (resellers) will reach the destiny of the product sold. For example the product is sold in shops or supermarkets.
Consignment
Often used many vendors or company or with a kind sale. Company menitipjualkan their product to the reseller. Examples are books in a large bookstore, or eat a big stall.
Direst Selling
Is a sales strategy to market products directly to consumers, no longer passing through the hands per hand. For example credit card offers, insurance, membership card, a bank product, and so forth.
Telemarketing
Means selling long distance, usually to the sales through focused sound. For example a bank credit card issuer or a large computer company.
Member Get Member (MGM)
Strategies that take advantage of consumers who have to reach new consumers. Nearly all the publisher or the phone company had to use this trick.
Cross Selling
Means to sell product to the consumer the same directly. Almost the same as MGM, which is more focused to the customer.
Take One Boxes
Sales strategy is simple, but very effective, because this method always standby all the time and cost little. For example in the preferred credit card, membership, property and spread with brochures and application form.
TV Shopping
Means that the sales through television. For example in Indonesia, have DRTV media or other TV shopping.
Mail Order
Is the sales made through postal mail or post. Examples are the sale of product accessories, beauty accessories, and others.
Phone Shopping
There is no direct power marketers such as telemarketing, the only sales that receive the phone. Almost similar to the mail order, just phone payment shopping through cash, credit cards or transfer after goods received.
Referral Company
Strategies that take advantage of other companies whose products vary, but there is a relation akan marketed product from your company. For example computer store that offers the service ISP (Internet Service Provider).
Multi Level Marketing (MLM)
Many tips for running MLM strategy. However, most importantly, if it is to follow a MLM network, there is no restriction for the other MLM.
E-Commerce
Sales strategy through the Internet, without a product even if it offered even. For example beritanet.com, andipublisher.com, and so forth.
Affiliate Program
Sales program is that the site banner ad company to other companies. The affiliate program is also called the company referral era virtual world.
Viral Marketing
Program is a combination of network marketing and the Internet. Marketing is not MLM, not just e-commerce, and implemented in an offline and online.
Source: Book "Selling Art: Business Perspective, Ide-Ide Sales And Marketing Strategies"
Author: Ali Arifin
Publisher: Andi Offset
Wednesday, April 1, 2009
Tips on Being Successful at Any New Business
Starting out a new business is very difficult. It often takes about 6-7 years to be comfortable because of repeat business and relatively stable income. Working alone in a home business can lead to many bad habits that slow you down and affect the growth of your business. The tips below are from personal experience:
1. Set reasonable goals for yourself.
If you aren't aiming for anything, you can't hit a mark.
2. Have a positive attitude in life.
Optimists get further than pessimists.
3. Expect to hear the word "No" quite often.
Keep on plugging away. You will eventually get a "Yes."
4. Be as organized as possible.
With time, effort, filing, moving around.
5. Be enthusiastic about anything you do.
Let others know that you are interested in what you are doing and achieving something.
6. If you don't know, ask somebody.
Don't waste your time trying to figure it out yourself. Time is money.
7. Schedule your time efficiently.
Time control will determine how much you get done.
8. Have a place where you can concentrate on work and doing it efficiently and professionally.
Especially for home business owners, set up a professional office! It establishes your mind set and helps keep you on task.
9. Get involved in life around your business.
This helps you find new clients and business opportunities. Attend community events, go to conferences, read related books, join a few networking groups, call company owners for advice.
10. Handle money very carefully and intelligently.
Work frugally until you can afford better. Even then, always save money for a rainy day. Avoid debt. Only real money in hand has real value!
thanks for Otto Schmidt
source : ezinearticles
1. Set reasonable goals for yourself.
If you aren't aiming for anything, you can't hit a mark.
2. Have a positive attitude in life.
Optimists get further than pessimists.
3. Expect to hear the word "No" quite often.
Keep on plugging away. You will eventually get a "Yes."
4. Be as organized as possible.
With time, effort, filing, moving around.
5. Be enthusiastic about anything you do.
Let others know that you are interested in what you are doing and achieving something.
6. If you don't know, ask somebody.
Don't waste your time trying to figure it out yourself. Time is money.
7. Schedule your time efficiently.
Time control will determine how much you get done.
8. Have a place where you can concentrate on work and doing it efficiently and professionally.
Especially for home business owners, set up a professional office! It establishes your mind set and helps keep you on task.
9. Get involved in life around your business.
This helps you find new clients and business opportunities. Attend community events, go to conferences, read related books, join a few networking groups, call company owners for advice.
10. Handle money very carefully and intelligently.
Work frugally until you can afford better. Even then, always save money for a rainy day. Avoid debt. Only real money in hand has real value!
thanks for Otto Schmidt
source : ezinearticles
Monday, March 30, 2009
Secret Success of Young Businessmen
Story of the business that started from zero, and reap success, it may not be new. entrepreneur from zero is not a simple matter.
In the middle of the road, always appear a variety of obstacles. But their business travels a way that business from zero to achieve success and remain interesting to note. Especially if the story is the younger. So, what secret of successful young entrepreneurs?
Borrowing term Jennie S Bev, also author of Indonesian origin who lived in California, United States (U.S.) in the introduction to the book of Acts Collection Young Entrepreneur of Success from doing Zero, Secret So Young Entrepreneur (DAR! Mizan, 2008) paper Faif Joseph, for entrepreneurship actually very simple, namely by increasing the mindset and begin to open their own businesses.
In view of Jennie, everyone is successful personification itself. For, success is a mindset, it is not a journey or destination (success is a way to think or behave, not the travel and destination). But the suspicion still prevalent in the community found that entrepreneurship associated with the large and well established employers. Also not uncommon to assume that entrepreneurship is purely just to pursue wealth.
That's why, when talking about her successful businessman, who always made barometer is how the entrepreneur is to create abundant wealth through a business that was built. While not always the case. According to the famous young, Sandiaga Salahudin Uno, courage and optimism that is the initial capital must be owned by someone active for entrepreneurship.
After that, the men said that frequently disapa this password, select the appropriate business interests and talents with the opportunity to see in the market. With a large interest, will occur through the passion and spirit, maintain, and humming.
"Finally, just do it now. Do not count too, disconnect, start, and do now! "Said the former Chairman of the Public Agency Center of Indonesian Young Entrepreneurs Association (Hipmi CPP) is the period 2005-2008. Password expressed optimism that seems to be a number of major capital successful young entrepreneurs. Only a Indraguna Henry, owner of The Bridal Auto Indonesia, car wash "snow blower."
Before establishing a car wash now beromzet Rp7, 5 billion per month, the man who was born in Bandung, 28 August 1973, this fall up in the attempt. be passed various forms of business, but many times he was also busted and back to point zero. Male graduates of the University Maranatha Bandung during lectures sold fried chicken has become a salesman various electronic products to toys.
He was salesman of the product of Chinese origin toys to supply some toy store in Bandung. In fact, after finishing graduate course Henry had trusted to distribute the card chip Telkom worth Rp20 billion. But work hard in a flash due to poor Be spree. Bad habit that is sirna after he Fangky married Christina in 2003.
Thanks to the idea to open the car washing business of law bermodalkan with Rp150 million, he opened the car wash business at the end of 2003. "This amount is actually small enough to open a business," said Henry. From the capital of the Rp35 million he used to rent a place worth Rp75 million. The rest is paid after three months of running a business.
The rest of capital for equipment. But Henry had much to cover the cost of lack of equipment. Henry initially less attractive business community. But for Henry it is part of the game must be passed. Desires to change the image of car wash, which become dirty clean and comfortable, with innovative and travel realized through the snow The Auto Bridal.
Henry also continues to innovation in business start washing the car ice cream, parlor car, motor bridal. Each week, The Auto Bridal Indonesia to serve a minimum of 120,000 freight cars with clean Rp35 thousand per car.
"Usually the benefits are 100 percent of the capital," said Henry. Henry awarded Outstanding Entrepreneurship Award Asia Pacific Entrepreneurship Awards (AFEA) 2008. The Auto Bridal Indonesia currently have 84 branches spread across the country. Henry is currently working to expand the business wing relative to the land of Malaysia.
Other success stories indicated Isaiah Surya Widjaya, owner of PT Mandiri Baksomas King who now have 14 restaurants and 40 partners. Isaiah, the top male master Hawaii Pacific University graduate fields of computer, developing and meatball frozen food (frozen food) with a variety of seafood taste. Isaiah was initially only run the business her parents built in 1982.
As they often help serve customers since small, male birth Jakarta, 31 January 1971, this is very familiar with the culinary world. After the family of S-2 in 1998, Isaiah began to learn the management of restaurants. Situlah him from the indulgence of the appetite to eat the Conference to develop a meatball with a variety of business sense.
In 2002 he started to open outlets in serious baksonya flag with PT Mandiri Baksomas King. At first he opened five outlets in the area of Fantasy World, Ancol, North Jakarta, and one outlet in Kemayoran. To open outlets in Kemayoran, Isaiah's parents were the capital of Rp55 juta.Yesaya also innovate by creating a frozen food.
Now, through business, Isaiah can omzet reach Rp200 million per month. Success stories that are shown as Henry and Isaiah Faif also disclosed in the book. entrepreneurship success is not solely assessed how successful someone from collecting property, but more how someone can establish, build, and run a business out of something that does not have or have not been previously run.
source: okezone.com
In the middle of the road, always appear a variety of obstacles. But their business travels a way that business from zero to achieve success and remain interesting to note. Especially if the story is the younger. So, what secret of successful young entrepreneurs?
Borrowing term Jennie S Bev, also author of Indonesian origin who lived in California, United States (U.S.) in the introduction to the book of Acts Collection Young Entrepreneur of Success from doing Zero, Secret So Young Entrepreneur (DAR! Mizan, 2008) paper Faif Joseph, for entrepreneurship actually very simple, namely by increasing the mindset and begin to open their own businesses.
In view of Jennie, everyone is successful personification itself. For, success is a mindset, it is not a journey or destination (success is a way to think or behave, not the travel and destination). But the suspicion still prevalent in the community found that entrepreneurship associated with the large and well established employers. Also not uncommon to assume that entrepreneurship is purely just to pursue wealth.
That's why, when talking about her successful businessman, who always made barometer is how the entrepreneur is to create abundant wealth through a business that was built. While not always the case. According to the famous young, Sandiaga Salahudin Uno, courage and optimism that is the initial capital must be owned by someone active for entrepreneurship.
After that, the men said that frequently disapa this password, select the appropriate business interests and talents with the opportunity to see in the market. With a large interest, will occur through the passion and spirit, maintain, and humming.
"Finally, just do it now. Do not count too, disconnect, start, and do now! "Said the former Chairman of the Public Agency Center of Indonesian Young Entrepreneurs Association (Hipmi CPP) is the period 2005-2008. Password expressed optimism that seems to be a number of major capital successful young entrepreneurs. Only a Indraguna Henry, owner of The Bridal Auto Indonesia, car wash "snow blower."
Before establishing a car wash now beromzet Rp7, 5 billion per month, the man who was born in Bandung, 28 August 1973, this fall up in the attempt. be passed various forms of business, but many times he was also busted and back to point zero. Male graduates of the University Maranatha Bandung during lectures sold fried chicken has become a salesman various electronic products to toys.
He was salesman of the product of Chinese origin toys to supply some toy store in Bandung. In fact, after finishing graduate course Henry had trusted to distribute the card chip Telkom worth Rp20 billion. But work hard in a flash due to poor Be spree. Bad habit that is sirna after he Fangky married Christina in 2003.
Thanks to the idea to open the car washing business of law bermodalkan with Rp150 million, he opened the car wash business at the end of 2003. "This amount is actually small enough to open a business," said Henry. From the capital of the Rp35 million he used to rent a place worth Rp75 million. The rest is paid after three months of running a business.
The rest of capital for equipment. But Henry had much to cover the cost of lack of equipment. Henry initially less attractive business community. But for Henry it is part of the game must be passed. Desires to change the image of car wash, which become dirty clean and comfortable, with innovative and travel realized through the snow The Auto Bridal.
Henry also continues to innovation in business start washing the car ice cream, parlor car, motor bridal. Each week, The Auto Bridal Indonesia to serve a minimum of 120,000 freight cars with clean Rp35 thousand per car.
"Usually the benefits are 100 percent of the capital," said Henry. Henry awarded Outstanding Entrepreneurship Award Asia Pacific Entrepreneurship Awards (AFEA) 2008. The Auto Bridal Indonesia currently have 84 branches spread across the country. Henry is currently working to expand the business wing relative to the land of Malaysia.
Other success stories indicated Isaiah Surya Widjaya, owner of PT Mandiri Baksomas King who now have 14 restaurants and 40 partners. Isaiah, the top male master Hawaii Pacific University graduate fields of computer, developing and meatball frozen food (frozen food) with a variety of seafood taste. Isaiah was initially only run the business her parents built in 1982.
As they often help serve customers since small, male birth Jakarta, 31 January 1971, this is very familiar with the culinary world. After the family of S-2 in 1998, Isaiah began to learn the management of restaurants. Situlah him from the indulgence of the appetite to eat the Conference to develop a meatball with a variety of business sense.
In 2002 he started to open outlets in serious baksonya flag with PT Mandiri Baksomas King. At first he opened five outlets in the area of Fantasy World, Ancol, North Jakarta, and one outlet in Kemayoran. To open outlets in Kemayoran, Isaiah's parents were the capital of Rp55 juta.Yesaya also innovate by creating a frozen food.
Now, through business, Isaiah can omzet reach Rp200 million per month. Success stories that are shown as Henry and Isaiah Faif also disclosed in the book. entrepreneurship success is not solely assessed how successful someone from collecting property, but more how someone can establish, build, and run a business out of something that does not have or have not been previously run.
source: okezone.com
Friday, March 27, 2009
How to Borrow Money in Tough Times
We are living in interesting times, but as small business owners, that does not mean we can suspend what we need to do, reset the game, or choose not to move forward. If we do that, we have lost the game altogether.
Money remains the juice that keeps business going, and if your business needs money to make next season’s products, build a new facility, or open a new shop, you will need to go after it one way or another.
Here are four tips for seeking the money you need:
1. Start by going to a bank where you have a relationship. If you do not have a banking relationship, start one. Local banks are doing well, in general, so check them out. Every state regulates the banks, so you can find out about the financial condition of a local bank by going to your state’s Web site and then going to the financial institutions area.
2. Interview the lenders. Make an appointment with a lending officer either by phone or in person to discuss what he or she can do for you. Be prepared to talk about what you are doing, how much money the company is making (gross and net revenue), and how the loan would increase your gross and net revenue. Find out the amount you could borrow, the terms, the penalties, and the lender’s expectations. Ask what else the lender will do for you: I always ask what will make my company and me more than just a depositor or a borrower. Also find out if the bank holds its own loans rather than selling them off.
3. Understand that you will have to personally guarantee the loan. In the 1980s, when Lee Iacocca took over bankrupt Chrysler, he personally guaranteed Chrysler’s debt—that’s why he got so much money out of the company. Do not be offended.
4. Most business owners can get better terms and a lower interest rate through a traditional banking source. Some credit unions can work with businesses as long as the business is a depositor, so that’s another group to work with. Learn the difference between regular lenders and hard-money lenders. Hard-money lenders charge much higher interest rates, and the terms are much more stringent.
Marilyn J. Holt, CMC
source : businessweek
Money remains the juice that keeps business going, and if your business needs money to make next season’s products, build a new facility, or open a new shop, you will need to go after it one way or another.
Here are four tips for seeking the money you need:
1. Start by going to a bank where you have a relationship. If you do not have a banking relationship, start one. Local banks are doing well, in general, so check them out. Every state regulates the banks, so you can find out about the financial condition of a local bank by going to your state’s Web site and then going to the financial institutions area.
2. Interview the lenders. Make an appointment with a lending officer either by phone or in person to discuss what he or she can do for you. Be prepared to talk about what you are doing, how much money the company is making (gross and net revenue), and how the loan would increase your gross and net revenue. Find out the amount you could borrow, the terms, the penalties, and the lender’s expectations. Ask what else the lender will do for you: I always ask what will make my company and me more than just a depositor or a borrower. Also find out if the bank holds its own loans rather than selling them off.
3. Understand that you will have to personally guarantee the loan. In the 1980s, when Lee Iacocca took over bankrupt Chrysler, he personally guaranteed Chrysler’s debt—that’s why he got so much money out of the company. Do not be offended.
4. Most business owners can get better terms and a lower interest rate through a traditional banking source. Some credit unions can work with businesses as long as the business is a depositor, so that’s another group to work with. Learn the difference between regular lenders and hard-money lenders. Hard-money lenders charge much higher interest rates, and the terms are much more stringent.
Marilyn J. Holt, CMC
source : businessweek
Wednesday, March 25, 2009
7 Big Business Secrets to Increase Your Small Business Success
Whether the economy is up or down, no matter what is happening in the world, most small business owner's work hard anyway. It's never been easy to start a business, nurture its growth and succeed in any line of business. It's competitive, more so in some industries than others, but every butcher, baker, candlestick maker or software developer started the same way - small.
src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
Whether the economy is up or down, no matter what is happening in the world, most small business owner's work hard anyway. It's never been easy to start a business, nurture its growth and succeed in any line of business. It's competitive, more so in some industries than others, but every butcher, baker, candlestick maker or software developer started the same way - small.
src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
There are an astronomical number of variables that are involved in any business success, certainly, but there are also some truisms that seem to apply always and everywhere. The primary ingredient in success, of course, is not genius, creativity, a college education or a lot of working capital. The key is persistence, pure and simple.
Of course, it pays to be persistent with some genius, creativity, a college education and a lot of working capital, plus a few other things. If you are starting or running a small business, much can be learned from those who have gone before you. Whether their firms grew to be international conglomerates or found their sweet spots as a profitable SMB (Small- and Medium-sized Business), business owners that have taken their companies from -smaller- to -bigger- can impart a great deal of useful information to you. You can learn a lot from them.
The following big business secrets to increase your small business success are not in any particular order. They do share a few things in common. They don't cost any money, not directly at any rate, and most are related to your attitudes, work habits and way of thinking. There's a proverb that says, -As a man thinks, so he is,- and there is much truth in it. Your attitude is one of the most important ingredients of your business success formula, assuming that you follow up the thinking and planning with action and energy.
1. Business plan: Just about every big business achieves and maintains its success by following a business plan. If you don't have one, you are courting disaster. A thorough business plan, besides being required by bankers and investors, is your map to the future, your primary operations manual and a major component of your firm's very identity. If you don't know how to create one, there are many free templates and much good advice on the Internet, as well as from the Small Business Administration and other sources.
2. Strategy: The business plan will contain an overview of your company's strategy and goals, but you should flesh these out more fully for yourself (and other employees, if you have any). One business analyst compares these strategic documents to a battle plan, indicating where to focus efforts and allocate resources, as well as pointing out the challenges and obstacles ahead. You need to learn how to think strategically.
3. Tactics: Tactics differ from strategy, in that they are the actual action steps that you take to execute the strategic plan. The strategy may be to capture business for your photography studio by marketing your service to schools in your area, while the tactics may involve personal visits, phone calls, e-mail, flyers or (better yet) some combination. Big companies have entire departments (marketing) devoted to developing promotional tactics.
4. Negotiation: Big companies negotiate everything, and some small business owners erroneously think that GM or GE can do so simply because of their size. But that is only part of it. Everything from financial matters to employee relations can benefit from firm, honest negotiation, regardless of the amount of money involved. As far as dealing with your own vendors when buying supplies, raw materials, etc., don't be afraid to negotiate everything - the price, discounts, delivery charges, restocking fees or any other cost. The same attitude should prevail in your dealings with your employees, if you have any. Good negotiators, like good salespeople, cultivate their listening skills, and listen even more than they speak. Listen closely to people, and they will tell you what you need to know to sell, manage or persuade them. They may not do so directly, so learn to -listen between the lines.-
5. Professionalism: It is great to have a comfortable, even casual workplace, as far as dress code and first names and so forth. The most successful big businesses have learned, however, to communicate to their employees the importance of professionalism. Although the term applies to several things - appropriate clothes, polite language, respect for others, etc. - primarily it has to do with an employee giving their employer a day's work for a day's pay. The balance is often hard to maintain in small firms, where everyone knows everyone else and people are in close proximity to one another. But excessive visiting, gossiping and talking on the phone are real profit-killers. You and your employees should all be subject to the same rule here, which can be reduced to a simple, -Work during work time, visit during breaks and lunch.- It's tough to break old habits, but productivity will suffer if employees are not attending to their tasks.
6. Efficiency: While professionalism means, among other things, working when you're supposed to be working, efficiency is achieved by working -smart.- One good example goes by many names, but the -4F Method- is catchy and easy to remember. It has to do with paper handling, which is not restricted to white-collar office workers. Shipping and receiving personnel deal with mountains of paper, too. Big businesses teach their employees variants of the 4F Method, which gives you four choices of what to do with a document that comes across your desk (or forklift) - Finish, Forward, File or Flush. You would Finish the report your boss gave you, Forward the memo about the meeting, File the receipt for the supplies you bought and Flush (throw away, shred, burn, whatever) last week's flyer for the receptionist's baby shower. Another big business tip that has grown in popularity concerning paperwork instructs workers to -Handle it once.-
7. Clairvoyance: All right, you're correct - no one can really predict the future. However, big businesses put a lot of brainpower into staying abreast of developments, and not just in their own industries. Obviously, companies whose management teams were aware of the problems showing up in various economic indicators last year (freight indexes, purchasing agent reports, manufacturing volumes, etc.) were at least somewhat better prepared for the credit crunch and layoffs of 2008 and 2009. You cannot bank on any psychic help (why aren't all psychics richer than Gates and Buffett?) but you certainly can stay on top of things, the most important of which are (1) what's happening in your particular industry, (2) what's happening in the U.S. and the world (economics, politics, trade, etc.), (3) what's happening with your finances and (4) what's happening with your customers' finances. Stay informed, stay involved and you will be able to navigate somewhat more easily through economic turmoil.
None of this is easy, and nothing is guaranteed to bring you riches. The list of -big business tips for small business- could go on for many pages, of course. If you adopt some of the thinking that has worked for others, however, you stand a better chance in the always competitive, always unpredictable world of business - whether your company is big, small or in between.
Metro Hi Speed is a leader in online fax solutions for any sized business. Less expensive and more reliable than traditional fax services - you'll enjoy the convenience and well as the cost. Visit us today for more information on our small business and corporate fax solutions
by : Mark Madson
source : ezinearticles
src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
Whether the economy is up or down, no matter what is happening in the world, most small business owner's work hard anyway. It's never been easy to start a business, nurture its growth and succeed in any line of business. It's competitive, more so in some industries than others, but every butcher, baker, candlestick maker or software developer started the same way - small.
src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
There are an astronomical number of variables that are involved in any business success, certainly, but there are also some truisms that seem to apply always and everywhere. The primary ingredient in success, of course, is not genius, creativity, a college education or a lot of working capital. The key is persistence, pure and simple.
Of course, it pays to be persistent with some genius, creativity, a college education and a lot of working capital, plus a few other things. If you are starting or running a small business, much can be learned from those who have gone before you. Whether their firms grew to be international conglomerates or found their sweet spots as a profitable SMB (Small- and Medium-sized Business), business owners that have taken their companies from -smaller- to -bigger- can impart a great deal of useful information to you. You can learn a lot from them.
The following big business secrets to increase your small business success are not in any particular order. They do share a few things in common. They don't cost any money, not directly at any rate, and most are related to your attitudes, work habits and way of thinking. There's a proverb that says, -As a man thinks, so he is,- and there is much truth in it. Your attitude is one of the most important ingredients of your business success formula, assuming that you follow up the thinking and planning with action and energy.
1. Business plan: Just about every big business achieves and maintains its success by following a business plan. If you don't have one, you are courting disaster. A thorough business plan, besides being required by bankers and investors, is your map to the future, your primary operations manual and a major component of your firm's very identity. If you don't know how to create one, there are many free templates and much good advice on the Internet, as well as from the Small Business Administration and other sources.
2. Strategy: The business plan will contain an overview of your company's strategy and goals, but you should flesh these out more fully for yourself (and other employees, if you have any). One business analyst compares these strategic documents to a battle plan, indicating where to focus efforts and allocate resources, as well as pointing out the challenges and obstacles ahead. You need to learn how to think strategically.
3. Tactics: Tactics differ from strategy, in that they are the actual action steps that you take to execute the strategic plan. The strategy may be to capture business for your photography studio by marketing your service to schools in your area, while the tactics may involve personal visits, phone calls, e-mail, flyers or (better yet) some combination. Big companies have entire departments (marketing) devoted to developing promotional tactics.
4. Negotiation: Big companies negotiate everything, and some small business owners erroneously think that GM or GE can do so simply because of their size. But that is only part of it. Everything from financial matters to employee relations can benefit from firm, honest negotiation, regardless of the amount of money involved. As far as dealing with your own vendors when buying supplies, raw materials, etc., don't be afraid to negotiate everything - the price, discounts, delivery charges, restocking fees or any other cost. The same attitude should prevail in your dealings with your employees, if you have any. Good negotiators, like good salespeople, cultivate their listening skills, and listen even more than they speak. Listen closely to people, and they will tell you what you need to know to sell, manage or persuade them. They may not do so directly, so learn to -listen between the lines.-
5. Professionalism: It is great to have a comfortable, even casual workplace, as far as dress code and first names and so forth. The most successful big businesses have learned, however, to communicate to their employees the importance of professionalism. Although the term applies to several things - appropriate clothes, polite language, respect for others, etc. - primarily it has to do with an employee giving their employer a day's work for a day's pay. The balance is often hard to maintain in small firms, where everyone knows everyone else and people are in close proximity to one another. But excessive visiting, gossiping and talking on the phone are real profit-killers. You and your employees should all be subject to the same rule here, which can be reduced to a simple, -Work during work time, visit during breaks and lunch.- It's tough to break old habits, but productivity will suffer if employees are not attending to their tasks.
6. Efficiency: While professionalism means, among other things, working when you're supposed to be working, efficiency is achieved by working -smart.- One good example goes by many names, but the -4F Method- is catchy and easy to remember. It has to do with paper handling, which is not restricted to white-collar office workers. Shipping and receiving personnel deal with mountains of paper, too. Big businesses teach their employees variants of the 4F Method, which gives you four choices of what to do with a document that comes across your desk (or forklift) - Finish, Forward, File or Flush. You would Finish the report your boss gave you, Forward the memo about the meeting, File the receipt for the supplies you bought and Flush (throw away, shred, burn, whatever) last week's flyer for the receptionist's baby shower. Another big business tip that has grown in popularity concerning paperwork instructs workers to -Handle it once.-
7. Clairvoyance: All right, you're correct - no one can really predict the future. However, big businesses put a lot of brainpower into staying abreast of developments, and not just in their own industries. Obviously, companies whose management teams were aware of the problems showing up in various economic indicators last year (freight indexes, purchasing agent reports, manufacturing volumes, etc.) were at least somewhat better prepared for the credit crunch and layoffs of 2008 and 2009. You cannot bank on any psychic help (why aren't all psychics richer than Gates and Buffett?) but you certainly can stay on top of things, the most important of which are (1) what's happening in your particular industry, (2) what's happening in the U.S. and the world (economics, politics, trade, etc.), (3) what's happening with your finances and (4) what's happening with your customers' finances. Stay informed, stay involved and you will be able to navigate somewhat more easily through economic turmoil.
None of this is easy, and nothing is guaranteed to bring you riches. The list of -big business tips for small business- could go on for many pages, of course. If you adopt some of the thinking that has worked for others, however, you stand a better chance in the always competitive, always unpredictable world of business - whether your company is big, small or in between.
Metro Hi Speed is a leader in online fax solutions for any sized business. Less expensive and more reliable than traditional fax services - you'll enjoy the convenience and well as the cost. Visit us today for more information on our small business and corporate fax solutions
by : Mark Madson
source : ezinearticles
Monday, March 16, 2009
Six Easy Ways to Save Money in Your Small Business
If you operate a small business, then you know how crucial it is to save every penny. With the pressure of running your own business, it can often be easy to overlook areas of wastage and in some cases the drain on your cash flow can get out of hand before you know it. But don’t despair. Here are some common sense, practical steps that you can take to ensure that you maximise your business performance:
- Telephone costs.
There are several ways to save money with telephone costs. Firstly, check with your carrier and have them review the usage patterns for your business. Does your current phone plan best suit your patterns of use? Could savings be made by switching to a more cost effective plan (or even to a different carrier)? Are you taking advantage of toll free numbers at every opportunity, for example when ordering stock? Would there be any advantage in switching to an internet based phone system? How much are staff using your phones for personal calls? While we like to think that it doesn’t happen to excess, the reality is that many business owners lose considerable amounts every month through abuse by staff.
- Electricity costs.
As with your phone costs, electricity is a major expense to most small business owners. Air conditioning chews through the power, so make sure that your system is serviced regularly, is set by timer, and where possible, that the control unit is accessible only by you, or by someone you delegate. Staff constantly changing the settings can add significantly to your power costs. You want your business to look it’s best, so lighting is important. However you should always ensure that lights are switched off in areas where they are not needed (subject to health and safety requirements of course). One way of ensuring this may be to have lights in those areas switched to a sensor system, where they come on when someone enters the room, then switch off automatically when they leave. Energy efficient globes may also provide savings. Does your office machinery have an energy efficiency rating? Today, many manufacturers of copiers, faxes, printers etc provide an energy efficiency rating, so it may be that you can make savings when you make your next purchase.
- Postage Costs.
If your business has high postage costs, there are ways to make real savings. Are you regularly mailing out small batches of mail? If so, would you benefit by having less frequent mail outs, but higher volumes in each mail out? Check with your postal service to see if you are eligible for any bulk postage discounts. Do you send marketing material out separately to invoices? What about sending them out together?
- Freight costs.
Can you save money by switching to a different carrier? Can you save money by reducing the frequency of deliveries? Would it be more cost efficient to pick up stock yourself?
- Marketing Costs.
Have you ever really evaluated the return on your marketing dollar? If not, now is the time. You need to survey your clients and ask them how they heard about you. Did they come to you because of that last brochure? Did they hear about you from another customer? Marketing can be expensive, and costs can vary considerably depending on the type of marketing you use. TV or radio advertising can be expensive, but can reach a wide audience. What return will you receive compared to a mail out?
- Slow moving stock.
How much is that old stock costing you? It restricts your cash flow and takes up valuable space. If you are an importer/exporter and rely on currency fluctuations, then you need your stock to turnover regularly. Have you considered setting up an online store through eBay? These days it’s not too expensive, and may just be the solution you need.
Dave Curran has 30 years experience in management and finance. Dave has worked extensively in the public and private sectors, and has worked at senior management level in the banking industry. He has also successfully run his own small business for several years.
Article Source: http://EzineArticles.com/?expert=Dave_Curran
Friday, March 13, 2009
Financial Crisis Sparks Interest in Islamic Banking
The Abrahamic faiths prohibit collecting interest on money loaned. Interest is the excess amount of money paid (or paid in kind) on the loaned principal. This is considered exploitation. Some Islamic jurists, however, make a difference between “Interest” and “Riba” (usury).
The main source of profit for the banks is from the interest they charge and from other ancillary services. The bank relies on their client to pay back the borrowed money with interest. As a precautionary measure the bank obtains collateral against the loan. The primary interest of the bank is to make a profit from the interest and not from reclaiming collateral.
The borrower believes that by leveraging the commodity/collateral he will make more money than interest paid to the bank. For example: If you buy a $100,000 house with a 20% downpayment, and sell the house after 2 years for $110,000, your profit is 50%. That is, on your initial downpayment of $20,000. The interest you paid on the borrowed money was the rent you would have paid if you had lived elsewhere. The transaction occurs on mutual confidence. The bank being confident of his client’s ability to make interest and principal payments on regular basis. The client being confident of making more money on his product against which he has borrowed money.
Note, the payment of interest from one party to another is unrelated to the value of the house. You may put down 10% (instead of 20%) in order to make more profit and the bank will be willing to lend you more in the hope of receiving more interest. These type of transactions ultimately create fear, greed and corruption.
In Islamic financing, the purchaser of the house and the “lender” both become partners in the equity of the house in proportions to their contributions say, 20% and 80% as in the above example. Here the “Islamic banker” either rents him the house till the price is paid off or sells him the house outright with an agreed-upon long term payment contract.
Can you see the difference in both systems? In the present banking system one party gains at the expense of the other withoutdue regard to the price paid for the home. In Islamic finance, the arrangement is based on equity participation, called murabaha. The focus in this type of financing is the individual, the product and the society. Islam has no objection in creating wealth, but must be based on partnership and fairness. The Islamic Bank providing the equity to finance the house will share in the loss as well as in the profit as earlier agreed upon when the product is sold. The whole society ultimately benefits from such transactions.
The major premise of the present “free market” banking system is to loan money on interest to any individual able to repay principal and interest. This is irrespective of whether he makes profit or loss, and irrespective of whether society is a beneficiary or not. Profit is the ultimate motive and the individual is the focus rather than goods or the society. The driving force being profit, the loaner and loaned has to create a mutual confidence, and once it takes root the fear, greed and corruption takes off–resulting in the current debacle of major institutions like Merrill Lynch, Lehman, Fannie Mae, Freddie Mac, Bear Stearns, WaMu, AIG……and others yet to follow. It seems the trend will continue in to next year indicates we as a nation are in serious financial trouble.
In the case of businesses that require capital or that need venture capital, the Islamic system providing finances is called mudarabha. Here the bank or the individual provides the financing and the person receiving the fund provides his entrepreneurial skills. Profit or loss from the business is shared on an agreed basis.
Arrangements regarding leasing cars are called ijara. This system is more or less same as the Western banking system and with an option to buy the leased car is called Ijara Wa Iqtiana. The recent development of “Bonds” transaction, called suku–based on equity participation–is gaining popularity in some Middle East countries. As we can see the process involved requires socially responsible investing in worthy causes and especially that would benefit the society.
The failures of these major financial institutions have raised a big question of overhauling of the entire system. The present question is “what is next” rather than “Who is next?”
“It’s the beginning of the end of the era of infatuation with the free market,” said Steve Fraser, author of Wall Street: America’s Dream Palace, and a historian. “It’s the end of the era where Wall Street carries high degrees of power and prestige. And it’s the end of the era of conspicuous displays of wealth. We are entering a new chapter in our history.”
Yet the fears are much more potent. The bailout of $700 billion by the Congress means personal-debt-ridden Americans will further struggle under the burden of this added debt. They will be squeezed more. With personal debt compounding, it will lead to less consumer spending and even lower growth resulting in to perhaps more prolonged and deeper recession.
The decline in confidence in the dollar may lead to a run on the dollar and diversification out of the dollar. This will further jeopardize the already-devastated US economy; and even the world economy.
What is the alternative? Islamic finances started coming on its own in 1970’s and it has established itself as a distinct discipline in the USA, Europe, and other parts of the world. There are more than 200 Islamic financial institutions worldwide. Notable in USA are “LARIBA” and “GUIDANCE” that cater for residential homes.
Many Western Banks and investment firms in USA, including Chase Manhattan, Goldman Sachs, Wellington Global Administrator, and ABC investment Services Co. have added Islamic finance divisions. The amount of wealth under Islamic finance sector, the halal banking system, is said to be over $500 billion–that is, roughly the size of Wells Fargo Bank, America’s fourth largest bank. And Hussain A. Hassan, of Deutsche Bank, predicts that Islamic finance will be the world’s fastest growing banking sector for years, based on what he calls a modest estimate of 20% annual increase in deposits.
Frank Gaffney wrote an Op Ed in The Washington Times dated September 16, 2008, under the heading “ Wall Street, What Next?” He says, “Tragically, in the process of leaping out of the scalding subprime frying pan, Wall Street is heading directly in to a fire that promises, if anything, to be more devastating than the present disaster. Incredibly, it bears all the hallmarks of subprime with respect to a lack of transparency, a systematic failure to disclose and an utter absence of due diligence, good governance and accountability. The next “what” is called Sharia-Compliant Finance (CSF)”
(REUTERS/Darren Staples)
How To Make 10,000 Or More In A Month
Sitting in a 9-5 job now-a-days is suicide. With the talent and skills you have gained over the years on the job, it's time to use that to your advantage. Think about it, your skills have helped your employer in more ways than one. If your employer was not benefiting from your talent, they would not have kept you there all this time. You can use or hone that talent to make much more that what they are currently earning. If you believe that is all you can get and that is all you are good for, well, I guess you are right.
However, if you believe you can become rich with the talent you have, now we can move forward.
- You have spent 5 years on a job, for example, as a recruiter. You are earning a mere 70-80K per year. Not bad some would say. 70K can go pretty far. Maybe you are right. But, If you can be your own boss with the same type of client how much more you do suspect you could make. How much do you actually think the company you are working for is taking in while just paying you 70K. Perhaps all you need is one faithful client and your salary (for your own recruiting company) would be triple that of what you made for your employer.
- Now that you are your own boss, you have one faithful client, you are in business. That is all you need to start to be on your way of making millions. Remember in Jerry Mcguire, Tom Cruise said he will use his one client and go straight to the top. One client is all you need to start the engine. Rather than sitting in a company for 5 - 10 years only to be given a pink slip and thank you for your services, why not start your own business today. You are an expert in your field based on your years of experience and you need to use that to triple your income, running your own business.
Thursday, March 12, 2009
U.S. Dollar Still Down at Rp 12,000
Exchange rate of rupiah against the U.S. dollar in the spot market antarbank Jakarta, Thursday (12 / 3) afternoon down, but its position is still below the number Rp 12,000 per U.S. dollar, because the market pressure is reduced,
The rupiah against the U.S. dollar down 10 points to Rp 11.980/11.997 per dollar compared to the previous day closing 11.970/11.980 Rp.
PT Bank forex analyst Himpunan Saudara Tbk, Rully Nova in Jakarta, said the position of the dollar figures are still under Rp 12,000 per dollar indicates that Bank Indonesia (BI) remain in the market observe the activities of currency trading. "BI actively in the market resulted in the exchange rate of rupiah stays below Rp 12,000 per dollar," he said.
According to him, the price correction is happening to the dollar is considered reasonable, after two days ago to increase, due to entry of foreign funds from the Middle East, Qtel. "We estimate the dollar can still rise on the move today, but the action offshore rupiah after the market opened," he said.
Rupiah, he took on the establishment of the market menguat 40 points to Rp 11,930 per dollar, but that position does not survive long, because the actors do the action offshore currency of Indonesia. "As a result, the price correction to occur so that the rupiah currency is the local terpuruk to 13 points," he said.
Such as market conditions, according to him will be able to continue so that opportunities for the rupiah again menguat quite large. "We are optimistic on the dollar will be up high, let alone the issue of positive internal such as Indonesia have also obtained a loan from the World Bank," he said.
Moreover, according to him, the Indonesian economy can still grow even better than other Asian countries, because of the security market stability and foreign investment that are still happening. "Because India is the opportunity to grow is still big enough that in turn trigger a strong dollar again," he said
EDJ
source : Ant
Thursday, January 22, 2009
Rupiah Morning Ride 25 Points
Jakarta, (ANTARA News) - The exchange rate of rupiah against the U.S. dollar in the inter-bank spot market, Jakarta Thursday morning rose 25 basis points for each Rp11.175/11.235 into U.S. dollars, compared Rp.11.200/11.225 closing the previous day, as the market began to release the foreign currency.
"However the U.S. dollar offshore action is still relatively small, so the dollar has not increased since the big decline last week so that its position had fallen on the Rp11.000 per U.S. dollars, said Director of Retail Banking of PT Bank Mega Tbk, Kostaman Thayib in Jakarta on Thursday.
Kostaman Thayib, said it improved the rupiah, because the rate is time to find happiness after an increase big enough.
"We estimate the rupiah will return menguat, because the market is concerned global economic growth more difficult after the president elect Barack Obama in his speech does not offend the stimulus package of infrastructure sector," he said.
United States earlier issued a plan to fund the infrastructure sector Stimulus package of 850 billion dollars plus the tax-cutting as much as 300 billion fund and talangan (ballout) of 350 billion.
According to him, the market is concerned with the absence of a statement from Barack Obama the global economic growth will be more serious, because the effort to support the reduction in the global financial crisis increasingly thin. (*)
source : kompas.com
Translate by : Me
"However the U.S. dollar offshore action is still relatively small, so the dollar has not increased since the big decline last week so that its position had fallen on the Rp11.000 per U.S. dollars, said Director of Retail Banking of PT Bank Mega Tbk, Kostaman Thayib in Jakarta on Thursday.
Kostaman Thayib, said it improved the rupiah, because the rate is time to find happiness after an increase big enough.
"We estimate the rupiah will return menguat, because the market is concerned global economic growth more difficult after the president elect Barack Obama in his speech does not offend the stimulus package of infrastructure sector," he said.
United States earlier issued a plan to fund the infrastructure sector Stimulus package of 850 billion dollars plus the tax-cutting as much as 300 billion fund and talangan (ballout) of 350 billion.
According to him, the market is concerned with the absence of a statement from Barack Obama the global economic growth will be more serious, because the effort to support the reduction in the global financial crisis increasingly thin. (*)
source : kompas.com
Translate by : Me
Wednesday, January 21, 2009
3 Online Business Strategies !
According to Porter, there are 3 common strategy which is used company or business. 3 I discuss this strategy related to the online business. Following the strategy and its discussion:
1. Cost Leadership Strategies
This strategy is known by the name of the benefits of cost strategy. The meaning? Yes .. you can win the competition because you have a product with a cheaper price than your competitors. Cheap does not mean not qualified, the quality of the product must still try to keep your business as a professional so that your customers remain loyal to your products. Usually, this strategy is used if the product you are selling a lot of products or products that are sold by many competitors.
Consumer products are usually very sensitive to price, so prices are slightly more expensive than your competitors so quickly it will turn your customers to other hearts. This applies if your products in general have the same specifications to the products sold by competitors.
For example, you have a product that is an e-book contains information "on how to create a blog through blogspot.com" see if the e-book that you have not much different from the content of the e-book competitors, your competitors, the price is a factor that determine for prospective buyers in deciding whether they want to buy your products. Therefore tentukanlah price for the product you may semenarik.
2. Differentiation Strategies
Now what if you have a product that is unique or different from your competitors? If so then the strategy you use must also be different. Do not play in the price. But try your attention to the advantages or unique products that you offer to potential buyers.
Price is not the main candidate for the buyer in the context of this strategy, you do not mean consumers sensitive to price. Whatever the price you offer, provided you have a product that is unique and have differences of products offered by competitors and other products you will be hunted buyers. Do not think that you have a product that must be 100% different than your competitors. Unique does not mean your product is good, but rare is the unique creativity.
For example, a product that is the same e-book contains information on how to create a blog on blogspot.com. Same product but you can provide a unique product in a way to provide information that can be understood by readers in a short time. For example you can change the title of your e-book to "How to Create a blog on blogspot.com in 15 Minutes." So after you change the title on the course, you also need to change the information in the e-book you read so well and easily understood so that the title does not deceive buyers your product.
3. Focus Strategies
Third strategy is discussed strategy Michael Porter is the focus. Where is the product that you must have a consumer focus zero. Usually you are customized products and product candidates in the consumer segment is also not usually sensitive to the price.
For example, you have a website that sells t-shirts-shirts for uniforms, corporate or sports clubs. Well, if your products are tailored to the consumer demands the product you mentioned customized product. In this strategy you usually have to zero in the consumer products you use.
The three strategies are used in accordance with this type of product you will sell. But not closed the possibility you can combine two or three strategies above. Approximately what is the appropriate strategy for your products?
by: anang
source : artikelweb.blogspot.com
1. Cost Leadership Strategies
This strategy is known by the name of the benefits of cost strategy. The meaning? Yes .. you can win the competition because you have a product with a cheaper price than your competitors. Cheap does not mean not qualified, the quality of the product must still try to keep your business as a professional so that your customers remain loyal to your products. Usually, this strategy is used if the product you are selling a lot of products or products that are sold by many competitors.
Consumer products are usually very sensitive to price, so prices are slightly more expensive than your competitors so quickly it will turn your customers to other hearts. This applies if your products in general have the same specifications to the products sold by competitors.
For example, you have a product that is an e-book contains information "on how to create a blog through blogspot.com" see if the e-book that you have not much different from the content of the e-book competitors, your competitors, the price is a factor that determine for prospective buyers in deciding whether they want to buy your products. Therefore tentukanlah price for the product you may semenarik.
2. Differentiation Strategies
Now what if you have a product that is unique or different from your competitors? If so then the strategy you use must also be different. Do not play in the price. But try your attention to the advantages or unique products that you offer to potential buyers.
Price is not the main candidate for the buyer in the context of this strategy, you do not mean consumers sensitive to price. Whatever the price you offer, provided you have a product that is unique and have differences of products offered by competitors and other products you will be hunted buyers. Do not think that you have a product that must be 100% different than your competitors. Unique does not mean your product is good, but rare is the unique creativity.
For example, a product that is the same e-book contains information on how to create a blog on blogspot.com. Same product but you can provide a unique product in a way to provide information that can be understood by readers in a short time. For example you can change the title of your e-book to "How to Create a blog on blogspot.com in 15 Minutes." So after you change the title on the course, you also need to change the information in the e-book you read so well and easily understood so that the title does not deceive buyers your product.
3. Focus Strategies
Third strategy is discussed strategy Michael Porter is the focus. Where is the product that you must have a consumer focus zero. Usually you are customized products and product candidates in the consumer segment is also not usually sensitive to the price.
For example, you have a website that sells t-shirts-shirts for uniforms, corporate or sports clubs. Well, if your products are tailored to the consumer demands the product you mentioned customized product. In this strategy you usually have to zero in the consumer products you use.
The three strategies are used in accordance with this type of product you will sell. But not closed the possibility you can combine two or three strategies above. Approximately what is the appropriate strategy for your products?
by: anang
source : artikelweb.blogspot.com
Thursday, January 15, 2009
Three-way Business Strategy
What is that Microsoft continues to make successful? Then why Nokia is able to become a cell phone product that most beloved of the consumer? And what makes the BMW for decades continues to be the icon on the prosperity of the people? Learn from the success story companies are global leaders in serving customers, it seems there are a number of wisdom that can be quoted. Main lessons that can be taken is this: that the process must serve customers that begins with the choice of the correct strategy. In other words, the process of serving the needs of customers are not suddenly appear out of the sky, but it must diselaraskan selection strategy with the company (corporate strategy), which has been disconnected.
In the context of this moment there are three strategies that acapkali applied by companies world-class. Jurus the first choice is a strategy that focused on product leadership (the benefits of the product). Companies in this category is always working to create products with premium quality, and always one step ahead of competitors' products. They do not shrink from removing the funds for the R & D for the creation of its products ciamik. Intel is famous for its Pentium series may be the most perfect example for this category. Or also companies such as Louis Vuitton adibusana popularize the product with its bags. And of course, we must appoint a BMW and Ferarri, two automotive manufacturers that create products legendary enamor nan.
Jurus strategy is the second choice oriented operational excellence (operational excellence). The companies in this category, which is the main business processes to build super-efficient. Hopes, with the efficiency of this process, they suppressed the production costs, and ultimately will be able to sell their products more price competitive. Dell, the computer company's home is Texas, is a sample that is feasible in this category. With the business model and a very efficient, they can create products with the price of desktop komptetitif more than its competitors, such as IBM and HP.
Jurus the last option is a strategy based on customer Intimacy (intimacy with the customer). The companies in this category, which is the main building intimate relationships with its customers, with the hope that relations will be created imperishable. Many companies in the field of hospitality and also the flight melakoni strategy to build loyalty for the pelangggannya. Harley Davidson is also very well have a remarkable relationship with the intimate users, so they can build a very intense fanaticism with millions across the penggemarnya Jagat.
Of course, many companies that also combine a variety of the moment, and not just focus on one moment. Honda, for example, than have known products are superior, also known as the business has a very efficient. Similarly, Singapore Airline. In addition to the airline that has a product ciamik, they also have expertise in building intimate relationships with its customers.
Thus, the three business strategy that moment be feasible. Aligning the moment when dipentaskan with a high precision guaranteed PLAYERS will bring the benefits of the ship.In the context of this moment there are three strategies that acapkali applied by companies world-class. Jurus the first choice is a strategy that focused on product leadership (the benefits of the product). Companies in this category is always working to create products with premium quality, and always one step ahead of competitors' products. They do not shrink from removing the funds for the R & D for the creation of its products ciamik. Intel is famous for its Pentium series may be the most perfect example for this category. Or also companies such as Louis Vuitton adibusana popularize the product with its bags. And of course, we must appoint a BMW and Ferarri, two automotive manufacturers that create products legendary enamor nan.
Jurus strategy is the second choice oriented operational excellence (operational excellence). The companies in this category, which is the main business processes to build super-efficient. Hopes, with the efficiency of this process, they suppressed the production costs, and ultimately will be able to sell their products more price competitive. Dell, the computer company's home is Texas, is a sample that is feasible in this category. With the business model and a very efficient, they can create products with the price of desktop komptetitif more than its competitors, such as IBM and HP.
Jurus the last option is a strategy based on customer Intimacy (intimacy with the customer). The companies in this category, which is the main building intimate relationships with its customers, with the hope that relations will be created imperishable. Many companies in the field of hospitality and also the flight melakoni strategy to build loyalty for the pelangggannya. Harley Davidson is also very well have a remarkable relationship with the intimate users, so they can build a very intense fanaticism with millions across the penggemarnya Jagat.
Of course, many companies that also combine a variety of the moment, and not just focus on one moment. Honda, for example, than have known products are superior, also known as the business has a very efficient. Similarly, Singapore Airline. In addition to the airline that has a product ciamik, they also have expertise in building intimate relationships with its customers.
by:Yodhia Antariksa
source : /strategimanajemen.ne
10 ways to save money in 2009
By Sharon Epperson
You bought a home to build wealth. It's your greatest asset. But now even if you can afford to pay the mortgage, your home is worth less than you paid for it. You've dutifully socked money away in your 401(k), IRA or another retirement account and the value of those investments has dwindled. Those credit cards? You know you should pay them off, but the interest rates are rising at the same time you're trying to whittle down the balance.
source : .msnbc.msn.com
You bought a home to build wealth. It's your greatest asset. But now even if you can afford to pay the mortgage, your home is worth less than you paid for it. You've dutifully socked money away in your 401(k), IRA or another retirement account and the value of those investments has dwindled. Those credit cards? You know you should pay them off, but the interest rates are rising at the same time you're trying to whittle down the balance.
The financial pain for many Americans is intense, but would likely feel less acute if you had enough savings on hand. If you had money you could get to at any moment, it could cushion the difference between your income and your expenses, especially if you've been laid off.
Unfortunately, the 2008 National Foundation for Credit Counseling (NFCC) Financial Literacy Survey co-sponsored by MSN Money revealed that the majority of people don't have a sufficient emergency fund, defined as three to six months' income saved. More than one-third, or roughly 76 million adults, say they do not have any nonretirement savings. Although the majority of people are currently saving for retirement, more than one-quarter aren't saving.
Here are 10 ways to save in 2009. First step, start small.
- Save for one month's expenses. Put 10% of your take-home pay into an interest-bearing savings account. Plan to have saved at least one month's worth of expenses — or better yet, one month's salary — by the end of the year.
- Shop around for the best rate. The bank where you have your checking account may not offer good interest rates on a savings account. Compare rates at sites like Bankrate.com and SavingsAccounts.com. Make sure the institution is FDIC-insured. You can open an HSBC Direct online savings account with just one dollar and earn a 3% rate. No minimum balance required.
- Make direct deposits from paycheck to savings. Some employers will allow you to designate several accounts for your paycheck. Have at least 10% of your paycheck directly deposited to savings, the rest to checking to cover monthly bills. If you can't do direct deposit, have the money automatically taken out of your checking account every month on payday.
Still not finding enough dollars to put into savings? Look harder. Here's how:
Cut back $10/month on 15 expenses. Examine your monthly expenses and see what you can cut out or cut back. If you could carve out $10 a month out of 15 different spending categories, you'd have $150 a month to go into your savings account. That means that in 12 months, you'd have built up a cushion of $1,800, which should see you through most short-term emergencies. (According to Consumer Reports, just brewing your own 16-oz. cup of coffee can save $350 a year.)
Put your raise, refund, monetary gifts right in the pot. Pretend you never received that windfall, however large or small. Since you weren't living on that money before, don't depend on it now. Use an income tax refund, if you're fortunate enough to get one, as the seed money for your savings. Perhaps it'll give you the funds you need for the first month of expenses, but remember your ultimate goal is to save for at least six months' worth.
Start saving for the holidays now. You probably did all of your holiday spending in the last six weeks — or less. Tally up your expenses for this holiday season, including gifts, travel, entertaining. Divide the total by 10 and contribute that amount to your savings each month from January to October. Next November you can start spending that amount, paying cash for your holiday purchases.
Reduce 401(k) contributions and put that money in savings. Continue to contribute enough money to your company's 401(k) to receive the matching contribution, if offered. But if you don't have sufficient cash savings, don't put in any more than that amount. Direct the excess percentage to your savings account. Don't suspend 401(k) contributions altogether, because it's still tax-deferred savings — a big plus. Just make sure you're able to put at least 10 percent of your take-home pay into cash savings. If you put in that amount, you may want to reduce your 401(k) contributions.
You'll also need to set goals for saving this one-month sum and then getting at least three to six times that amount into your cash savings account.
Here’s how to do it
Designate savings for "emergency" only. Many people regularly deposit money into savings only to pull it right back out. Define what constitutes an emergency, and don't touch the money unless it meets the definition. Also, don't keep your money in a checking account, as that makes it too easy to access.
Define your ultimate savings goal or goals. You need to start small, but don't forget the bigger picture. Ideally, to have a really comfortable cushion, you'll need to save at least three to six months' worth of income. In this economic environment, it's wise to set your savings goal at the high end of that range. Once you have your emergency fund in place, you may want to start a "car fund" or "house fund" or "debt reduction fund." Keeping different funds for each purpose can help you see how close you are getting to obtaining those specific goals.
Make saving a family affair. Set a family goal as well. Have your older children set a target of how much they plan to save (from baby-sitting, working at the supermarket or ice-cream store). Younger children can help you gather and count loose change and go with you to the bank to make the deposit. Let everyone know there will be a reward when the goal is met — a pizza party or night at the movies.
Finally, don't be afraid to ask for professional help. If you can't work out a budget on your own, go to a workshop or seminar at a certified credit counseling agency or hire a certified credit counselor. Find one that is certified by the National Foundation for Credit Counseling at www.debtadvice.org.source : .msnbc.msn.com
