Archive for September, 2008
If you are going to give your clients any deferred payment terms, you have to do some research where you come to the conclusion that your clients can definitely honour their payment obligations to you rather than relying on a “hunch”. What if the client was about to go bankrupt, would you allow extended payment terms? If you knew they were late payers, would you expect that invoice to be honoured in a timely fashion?
It is definitely sensible to find out all you can about the potential client. According to many Accounts Professionals, sales go up if you credit check because you can target the right type of prospect, and not waste time on non credit worthy prospects.
You have to be aware that extending payment terms can mean that you end up wasting time your valuable time chasing the debts, and can this can seriously hit the pockets of any small business. It is therefore important to identify which companies you need to keep and eye on. With brand new customers, give them a ‘fast start credit limit’. You give them a tiny credit limit to begin with and see how they get on. There is of cause a risk that they don’t pay you. These small limits will give you the chance to evaluate the customer. You can establish normal terms once you build a good relationship with the customer or once you’ve done a credit check. As you then build your customer base, you need to identify the clients who are giving you the most sales. Usually 20% of your clients with give you 80% of your turnover. These are the companies that you a) need to credit check and b) monitor their credit worthiness, preferably on a daily basis.
Business Information Reports: There are numerous credit reference agencies providing credit reports on both businesses and individuals. At minimum, they should provide the following information: Full legal company details (you can not take them to court with the wrong name or address!), company accounts, Court judgements, recommended credit rating (more on this in another article) and credit limits (usually based on 30 day payment terms).Look for credit reference agencies with a full online database that deliver instant business information.
Known as a bank reference, ’status enquiry’ to other banks, this is a banks assessment on whether the client can pay. The bank needs permission from the client to act as a reference, and there is normally a free chargeable. Banks will use information based on what they know about the customer, or how they have handled their bank account. The banks will use standard phrases ( ‘undoubted for your figures’, ‘respectable and good for your figures’, ‘customer not known to us for long’, ‘capital/resources fully employed’, ‘cannot speak for your figures’). If they come back with anything other than ‘good for your figures’, you need to do further checks. It is in the banks interest to give good reports on their customers, so don’t rely on these solely.
A bit of a cliché in the credit industry, however the phrase “there’s no such thing as a bad trade reference” spring to mind. Do not let the new customer bring their own references! Would you bring a bad reference to an interview? Instead, insist on contact their existing suppliers instead.
There are a few other ways in which to minimize risks, but a major rule of thumb is to keep a close eye on those top 80% of customers. Things change on a daily basis, so keep an eye on how well they pay their credit reports and even keep an eye on the media.
Mark Isaac currently works for the UKs leading business credit report provider within the Large corporate accounts department.
September 29 2008 | Business and Industry | No Comments »
Managing your business finances is extremely important and because it requires different expertise. Realistically, most business owners will require professional guidance to properly manage their business finances. The two most important associates for you to retain will be an accountant and banker.
An accountant will provide assistance in a number of different key areas. He can oversee your bookkeeper, validating cash disbursements. You and your accountant will work together to develop a budget and cash flow statement. The budget will be used to ensure you have an adequate profit margin, or you’ll need to either change your pricing structure or reduce expenses.
Your banker will also require a budget (along with cash flow statements) if you apply for loans. The other crucial statement will be the cash flow statement which is a forecast of your revenues and expenses by month. If you don’t have enough cash coming in each month to pay your suppliers, employees and other expenses, you will either need to have cash in the bank or arrange for other financing.
It’s a good idea to have separate business checking and credit card accounts for your business expenses. It will be easier to track and justify your business costs for tax purposes. If you choose to incorporate, you can protect your personal assets from any business debt. Besides your accountant, you should consider outsourcing other finance functions such as payroll and bookkeeping. Having excess inventory on hand can also drain you cash. Outside consultants can provide financial models to more accurately predict needs.
Your banker can help you with applying for both checking and credit card accounts. You may also need business loans to set up or grow your enterprise and every business should have a line of credit in case of cash shortfalls. You should see if you qualify for a low interest loan from the U.S. Small Business Administration (SBA).
The author would like for you to visit Certified Financial Planner Raleigh NC and Fee Based CFP Raleigh NC.
September 27 2008 | Business and Industry | No Comments »
How did this happen? Maybe it’s just the natural course of events. Look at it: 1) Stay-at-home job 2) good income 3) less work 4) new technology 5) new culture 6) fame 7) public demand. How do these women (some guys too) decide to join in a burgeoning industry?
Let’s work backward in the list.
PUBLIC DEMAND -Porn of various types has always been around. Good or Bad? There are some arguments for both sides of this question - which I won’t go into now. But let’s face it, images of nude people and people engaging in sexual activities have been a multi-billion dollar industry. Record sales of sex aids are posted every year. These are used primarily for self stimulation (no moral comment here).
FAME -Some of these women become stars because of their niche offerings, or mainstream posing in the nude, for digital images or digital movies. Aside from webcams, this kind of material is available free of charge on the world-wide-web, or can be visited/downloaded for a range of prices or membership fees. Some girls freelance with boyfriend or husband or girlfriend to set up a low-cost website then acquire a following. They may take requests for types of posing, clothing, or activities.
NEW CULTURE -Or old? Although these images are much easier to distribute via website to satisfied customers, these new stars are doing the same things that have always been done. It’s just that with web technology any woman can be a porn star. Some stars remain anonymous, others use their real name - even make guest appearances on television or at festivals. The web permits more anonymity to viewers as well.
NEW TECHNOLOGY -And growing everyday. Webcams, syndication feeds for new photosets or new stars, CD and DVD rent or sale, MPEG via internet, even cell phone images of supposed voyeuristic images.
Now the model/star’s voice can be marketable with movies. Lingerie sites have picked up on this and sell more merchandise to girls and guys.
LESS WORK -It’s easier to make and upload pics than to work downtown in an office or store - although some of the most popular stars do both. Special lighting, backgrounds, settings, or makeup may be used but this is up to the star and her following. With blogging and CSS webpages available there is little work needed to maintain a site with customer log-in, etc.
GOOD INCOME -These cottage industry stars have very little overhead to subtract from their income. Many stars have told me that they were surprised at how much attention/money they received after
startup. Some thought they couldn’t compete with movie stars’ pics or established hardcore sites or XXX - DVDs. The incomes reported range from very high to very little, but they all said it was good enough for what they put into their work/business.
WORK AT HOME -Aside from using a natural mountain setting or expensive hotel room, most of these women use their homes, or a disguised version of the backyard or kitchen. Some viewers prefer rich, impeccably clean surroundings - others like the naturalness of the home or garage. Some of these ladies have children, some live alone, some have roomies.
The “small-business websites revolution” has a major new trend - which might be the hottest of all cottage industries.
Arthur Browning
Web Templates Blog
Arthur Browning began his career teaching technical writing in a small midwestern university for 15 years. He later edited and published a national professional journal for some ten years. He is now an investor. His interests include art collecting, web marketing, writing.
September 26 2008 | Business and Industry | No Comments »
Chocolate is unquestionably the number one comfort food. Worldwide, no other word excites our hearts and minds, yes, even our palates to action. It can be obtained in many forms. There is hot chocolate, cold chocolate, and spicy chocolate. If your passion is rich, dark, bittersweet, or milky sweet it can be easily satisfied. There is even white chocolate for those who fancy a light, creamy taste without the flavor that the alternatives deliver. What is it about chocolate that so permeates our subconscious until we ultimately indulge our craving?
If you look at all the characteristics that this confection is noted for you will undeniably find the list lacking nothing. The very first few that come to my mind are:
- Sweet or bittersweet taste
- Rich, creamy indulgence
- Warm, inviting, comfort food
- Nothing quite smells like chocolate
And that is just for starters. However, its features are not what we crave. We crave it for what it does for us. As I ponder this subject, to better focus on the answers to these questions, I can think of no other chocolaty indulgence that I would rather have than My Little Taste of Italy’s sinfully, sensual, rich and luscious cappuccino brownies. They are so well known, on both coasts of America and in between, that they have been dubbed, “Orgasmic!”
Mama Gloria and Liz have discovered the key to satisfy the most discerning palate. Their tasty treats include chocolate biscotti that are to die for fabulous. Did I tell you their treats are known all across America? Well, that isn’t quite accurate. They are also ship their goodies overseas to our armed forces, but this is another tale for another time.
So, what is it that Mama Gloria and Liz have discovered that has enthralled the world? They have figured out that we cannot live without chocolate and have used that knowledge to capture our appetites and our hearts. When we look at what chocolate does for us, and what makes the desire so strong that we cannot ignore it, we discover the essence of true marketing potential. What is it that My Little Taste of Italy’s Cappuccino Brownies do for the lucky soul Let’s uncover their secret.
What chocolate does for the consumer is summed up in how it makes them feel. Some of these benefits are:
- Satisfies our senses
- Soothes our nerves
- Makes us feel good about ourselves
- Provides health benefits
It is a well known fact that chocolate increases our endorphins, actively producing a sense of well being, and serotonin, which acts as an anti-depressant. Recently I discovered that it is also beneficial to smokers. “It has shown promise in that it may reverse some of their smoking-related impairment in blood vessel function,” according to a study in the Oct. 4, 2005, issue of the Journal of the American College of Cardiology.
But what does all of this have to do with marketing? The answer is simple, EVERYTHING! Think of it, if you could harness the benefits of chocolate in your advertising you would ensure your business’ success. If you simply find a way to make your product or service compelling to your consumer you will seldom loose a sale. Sit down right now and create a list of all of your product or service’s features. Then from that you will be able to build the list that will clearly define the benefits to your customers. With that knowledge firmly in hand you will have the key to the best marketing plan that you have ever prepared.
Ginger Marks and Kim Emerson are co-owners of Nibroc Marketing Solutions http://www.nibrocmarketing.com Ginger is also the author of “Presentational Skills for the Next Generation” available through her company website at http://www.DocUmeant.net . My Little Taste of Italy can be found at http://www.mylittletasteofitaly.com/.
September 25 2008 | Business and Industry | No Comments »
The process of setting up a shelf company is quite simple. One of the biggest hang ups that people seem to have though is determining if it is legal. A shelf company is one that has been doing just that - sitting on a shelf and collecting dust. It has been waiting for a business owner to come along and give it life.
There are quite a few benefits to setting up a shelf company. The most common one is that they often can encourage lenders to give you funding for your new business. You can use that date that the shelf company was started as the date of the business. These days it is harder and harder to get new business credit due to the poor economy. So business owners need all the help they can possibly get.
In order to get your hands on a shelf company you don’t need to do very much. The key is that you find a good one to invest your money in. Unfortunately you will find there are quite a few scams out here surrounding shelf companies and you want to avoid them. Do your homework and make sure that you are actually getting what you pay for. You also want to make sure there aren’t any negative ties with credit associated with any shelf company you are looking at acquiring.
When you are ready to move forward you want to compare prices. In many regards the older a shelf company is the more you will pay for it. Shop around though to get a very reasonable deal. Save the money you can to invest in other aspects of your business. Once you pay for the shelf company the shares of it will be transferred into your name.
There also needs to be a process for the directors of the company to resign. This is a legal technicality that you want to make sure gets taken care of. Generally though it is just a paper process. The paperwork will be drawn up and each party signing them accordingly. Most of this is done by mail so you won’t even end up meeting any of these directors of the shelf company.
The process is very direct and you will find that the amount of paperwork involved in acquiring a shelf company has dramatically decreased. Most of it can be done on the computer which saves everyone involved both time and money. If you want to work with a shelf company broker they will assist you every step of the way from start to finish. Of course they do charge fees for doing so but if you are new to the game you will likely find such assistance to be very helpful.
Getting your hands on a shelf company may be just what you need to get your new business off the ground. It can help you with establishing some history both with creditors and the general public. This is a very simple and effective way to promote your business so it can start making money.
Robert Bain - veteran business owner shares his thoughts on building corporate credit, even if you have bad personal credit. Visit CorporateCreditPower.com to read more.
September 23 2008 | Business and Industry | No Comments »
Throughout marketing history, we have seen the evolution of many catchy business phrases! Sometimes they are referred to as the company “motto” or “slogan”. Why do people always revert back to creating catchy business phrases? They write them because THEY WORK! They make sales and convert customers!
When you’re writing catchy business phrases, it is important to remember the marketability of your phrase! Is your phrase generic enough to appeal towards a large audience? What do I mean? Here is an example.
Lets say that I’m selling some cleaner. I could say that the cleaner is “great for cleaning tables”. That would be great, if I’m targeting people who clean tables. It would be much more effective to write the phrase this way, “great for cleaning your home!” That phrase is much more effective because it captures a larger audience!
Be sure that your catchy business phrases aren’t cutting out potential buyers by singing only one tune. Make sure that you have a few catchy business phrases up your sleeve before you venture out into the vast business world! Having different phrases spreads out your business and increases the chances of your business being discovered!
Hopefully you have taken away some important information. The art of making effective, catchy business phrases is a very tricky art, indeed! When you finally begin to market, be sure to check which phrase is performing the best! Once you are able to narrow it down, you’ll only be left with super effective marketing phrases! You cant be stopped!
Increase your sales by 125%, check out http://www.theultimatesalespitch.com
http://ultimatesalespitchmaker.blogspot.com
September 21 2008 | Business and Industry | No Comments »
Find Business Schools in the United States and Canada. Teaching a wide spectrum of business-related topics, business schools are higher-education institutions that offer training and education in accounting, finances, human resource management, marketing, office management, and more.
Did you know that the popular MBA program offered (at business schools and colleges) was developed in the United States in the late 1800’s, and is taught worldwide today? Applicants interested in enrolling in these particular programs must meet educational prerequisites prior to enrollment into one of any number of business schools and universities. Once all academic standards have been met, applicants can enter into an MBA program where they will gain a wealth of knowledge and skills specifically designed for those candidates seeking lucrative careers as professional business consultants, accountants, and marketing strategists, among many other related fields. MBA programs in business schools entail foundational studies in capital markets, probability and statistics, financial and managerial accounting, corporate and marketing strategies, micro and macroeconomics, corporate finance, management, and more.
Additional educational opportunities exist at business schools and colleges, including transferable Associate in Business Administration degree programs, as well as specialized programs like Business of Health Care MBA, degrees and certifications. For example, some of the available undergraduate programs in business schools include courses in information technology, human resources management, entrepreneurship, customer/public relations, medical billing and coding, health information, and even veterinary practice management classes, among many others.
If you like working with numbers, accounting programs are also available at most business schools. Before you can pursue a career in accounting, you must have earned your MBA or equivalent education and experience from an accredited educational institution. Once candidates have completed accounting training at one of a number of business schools or colleges, it is essential that graduates earn certification and/or licensure to become a CPA (Certified Public Accountant); as this serves to bolster career prospects. Salary prospects are good for accountants and other business professionals, with the potential to earn well above $85,000 annually.*
Other career prospects for those who have earned a quality education through one of many business schools or colleges include occupations as budeget analysts, bill and account collectors, bookkeepers, loan officers, financial analysts, personal financial advisers, business managers, payroll accountants, and entrepreneurs.
If you (or someone you know) are interested in finding business schools, let professional education within fast-growing industries like business administration, medical billing and coding, massage therapy, cosmetology, acupuncture, and others get you started! Explore career school programs near you.
*Occupational Resources: BLS (U.S. Bureau of Labor Statistics)
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Resource Box: CarolAnn Bailey-Lloyd - Freelance Writer and Web Consultant for HolisticJunction.com, in association with CollegeSurfing.com - Educational Resources for Business Schools, Business Administration Programs, and other Studies.
September 12 2008 | Business and Industry | No Comments »
Need a loan for your business? Don’t have sufficient collateral? You have a respite in the form of unsecured business loans.
Unsecured business loans do not require collateral to be put forth against the loan amount. So, the biggest advantage you get by applying for unsecured business loans is that there is no risk to your property or material assets.
The paper and the documentation work is also less in case of unsecured business loans. It will assure you in getting a faster loan. This unsecured business loan package is ranged from 5000 to 10,000 pounds where the borrowed amount decides the repayment period which generally is between 3-2 years.
Feel safer by asking for the unsecured business loans which are offered at different interest rates in various online marketing websites.
Unsecured business loans are also offered to the people with a bad credit score, however the interest rates in this case is a little higher than those of secured business loans, as there is an absence of any collateral. But due to the cut throat competition amongst the various lenders, a competitive interest rate can be achieved. All you need to do is a little bit of market research in such matters. It is good to find loans that are easy to repay.
You should be sure about your credit score while applying for an unsecured business loan as the credit score is the only motivating force for the lender to give his money to you. Most of the lenders offer you a longer term of repayment which is a profitable proposition as well.
The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting onlineunsecured loans as a finance specialist. For more information please visit: http://www.online-unsecured-loans.co.uk
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September 09 2008 | Business and Industry | No Comments »
The average American only dreams about earning six figures in a year. Usually a married couple doesn’t even bring in six figures with their combined income. Even if you have a college degree, the odds of making this kind of money are very slim. You must have a masters degree at the very least, right? Wrong! Six figure earners are popping up right and left through direct sales. More and more Americans are realizing every day, that the home based market is the only place that allows you to decide how much you want to make!
It is exciting and liberating to take your financial future into your own hands. No more boss looking over your shoulder, checking your time card, and denying your well deserved raise/bonus. With your own home based business you can begin work when you choose, wear what you feel comfortable in, and take vacations when you please.
I used to think this sort of idea sounded far fetched. I had tried several home businesses and never made enough to pay my electric bill. Then I was taught by a successful marketer, the five keys to choosing the home based business with the most potential. After I learned these essential points, I found a company that lined up perfectly and I began making the money I dreamed about! Pay close attention to these next key elements I am going to share with you. They may be the ticket to your wealth from home.
1) The company should be less than 4 years old. If the company is older than 4 years, many potential customers will already be connected to distributors.
2) The product should be revolutionary. This means there should be no other product like it on the market. If you have found a patented product, even better!
3) The company should be debt free. This ensures that the business will not fail.
4) The start up cost should be less than $300 and include a free web site/virtual office to manage your business.
5) The product should be consumable/eatable. This way your clients will be re ordering monthly.
There are several home based businesses out there to choose from. Good luck with your search, and don’t be afraid to take a chance on securing your financial future. You wouldn’t want to spend your life in the “rat race”, always wondering what would have happened!
To learn more about Earning Six Figures, visit Brianne’s Healthy Chocolate website.
Brianne Beaty is a successful home based business entrepreneur, speaker, and trainer. Her passions are helping people attain their goals of financial freedom and health. She has a degree in Dance and Communications with an emphasis in Media Management from San Diego State University. Brianne was a professional dancer in San Diego, L.A, and Portland. She also has been a director of fitness for five athletic clubs in the Oregon valley and continues to consult for the health and wellness industry.
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September 09 2008 | Business and Industry | No Comments »
If you know that you want to start a home based business, if you have the motivation and drive to get up and running, but you don’t know where to start, this article will give you some free home business ideas. People tend to think that a home based business automatically means a daycare service or online sales. While these home businesses are often successful, it is not necessarily a dead end from there-there are dozens of other free home business ideas that you’re going to learn about right now!
Desktop publishing is a field that can easily be turned into a home based business. In a nutshell, desktop publishers use a computer or laptop to produce quality printed documents. They use computer programs to format and combine text, photographs, data, graphic art, or illustrations into pages that will be printed. Desktop publishers may produce a variety of media such as books, brochures, calendars, magazines, magazines, newsletters, newspapers, packaging, and forms.
Most of the time, desktop publishers have a degree in desktop publishing, graphic imaging, graphic design, or another degree in that field. Another huge plus of desktop publishing is that the costs are minimal. There aren’t specific supplies to get unless you don’t own a computer. As long as you have your computer, your office, and your programs, you can start to build your clientele.
The next free home business idea is accounting. To earn a legitimate amount in this field, you will need to be a Certified Public Accountant or at least have a degree in a related field. As a home based accountant, you’d work for businesses and individuals by preparing financial reports, payroll, tax planning, and financial forms.
You’d need to be comfortable with numbers and detail oriented. Not to mention, organization is completely necessary. All you need for accounting is a fax machine, copier, calculator, and computer with spreadsheet, word processing, and database software. Additional software and reference material will be needed depending on the services that you offer.
The third free home business idea is a virtual assistant secretarial service. Usually, a virtual secretary will work for individuals, sole proprietors, and small businesses that don’t have a need for a full time secretary. Virtual assistants can specialize in one area or they can offer a variety of services which can include: typing manuscripts, data entry, marketing, bookkeeping, transcription, writing proposals, schedule meetings, database management, billing, and the list goes on. As a VA you should be a quick and accurate typist, you should understand the internet, you should be great with computers, you should know the word processing and spreadsheet programs, and you should have business management skills.
Another possibility is online tutoring. This field is becoming increasingly popular by the day. As an online tutor, you’d help people in certain academic and nonacademic subjects or you may have your own courses and workshops. A website is an essential in this field because it will provide all of the necessary information for potential customers. Your website would tell what specific areas you tutor in, have resources for your subjects, online courses and workshops, and a user interface to interact in the classes. As an online tutor, there are also some extra ways to bring in the cash. You can sell ad space on your website for advertisements or join an affiliate program.
So take a look into these free home business ideas and then add your own touch.
Copyright © Natasha Williams
About the Author:
To find the best top ten home business ideas and opportunities so you can work at home visit: http://www.FreeAdsOnline.info
Natasha Williams is the owner of Free Ads Online.info and writes on a variety of subjects. To learn more about starting your own home based business earning 6 streams of income and find the best top ten home business ideas and opportunities so you can work at home visit: http://www.freeadsonline.info
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September 07 2008 | Business and Industry | No Comments »
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