Engaging in a Profitable Home Business Ideas
Posted by admin in Business Ideas on Jul 15th, 2010 | 0 commentsWhen you work online and start your own home Internet business, you are doing a very simple yet important thing ‘ taking charge of your financial future. It takes courage to do so, for few people can tolerate the uncertainty that comes with the absence of a regular salary. However, if you are serious about fulfilling your financial goals, you definitely have to start a venture of your own. Otherwise you will be tied down to a job for the rest of your life.
One idea on how to work at home is to start a home business providing a service. If you like the Internet freelancing opportunities are everywhere. Here are a few things you could do.
Build websites. There are millions of small businesses all over the world who does not have a website and do not know who to contact to get one built. You could go to Vistaprint.com and get 250 free business cards printed. An at home business that can help others with their various jobs can be very lucrative. One nice thing about this type of work is it never ending and most small businesses will need their site updated and maintained all of the time.
Write blog posts. With a new blog being started every second the number of blogs who need someone to help keep them up to date is never ending. If you like to research and write this may be just the work at home business ideas to get you started. All you need is a computer and Internet access to get started.
Websites like TJobs.If someone’s idea of easy home business ideas means ideas that allow them to make money without a lot of effort, then for them there are no easy home business ideas. Many of these offer benefits along with top pay to telecommute and work at home business ideas. Most will require you to have a quiet place to work and maybe a separate phone line.
Hobbies offer a great way to work at home and get paid for it. Hobbies like working on cars, catering, gardening, baking, walking dogs and more could be the perfect work at home business ideas . If you are a licensed professional then you can offer your services as a doctor, designer or lawyer and work right out of your home.
As you can see the trend now is to start your home based business using the Internet. Even basic skills can be rewarded if you will show up and work. Coming up with an idea that appeals to you is the key. If you are going to work at home business ideas everyday you may as well enjoy it.
How to Deliver Customer Service Like an Athlete
Posted by admin in Customer Service on Jul 15th, 2010 | 0 commentsCopyright (c) 2008 Drew Stevens PhD
Peter Drucker once stated that the purpose of every American business is one thing – creating customers. Research by the American Management Association show that your average HAPPY customer will tell 3 people about her experience with you. Research shows that, out of 25 dissatisfied customers, one customer complain, 24 are dissatisfied but do not complain, and 6 of 24 non complainers have serious issues with the organization. More importantly for selling professionals, customer service is included in 40 percent of every client interaction.
I remember the greatest words I ever heard when seeking to repair my computer after a 3 hour conversation, the representative getting tired stated, “You are a customer, and I will get this repaired for you no matter what”. When you supply grand slam customer service, your business costs are lower and your success greater.
Great Service Requires Great Solutions
After doing some research, I have discovered that the key to grand slam customer service is practicing it. Just like an athlete practices for an event, or the musician practices for a concert, the service provider must practice. Here is my seven-step protocol to enhance your service delivery.
PRACTICE ? Customer Service
-Positive First Impression – you must be genuinely interested in assisting others. passion and empathy separates the athletes from the spectators.
-Rapport – 98% of every interaction involves trust and respect. Ensure you establish rapport with every client.
-Assess the Issue – Asking provocative questions is the only way to get to the heart and soul of every issue.
-Communication – The best communicators listen first and speak second. Athletes know when to ask and when to tell.
-Time Management – Customer Service representatives are trained to expeditiously respond to issues but can you do this qualitatively too?
-Interest – Gaining interest requires an understanding of the multi generational and cultural issues that assist in building rapport and becoming genuinely being interested in others, a famous Dale Carnegie and biblical trait.
-Closing on a Positive Note – Always close your calls on the positive side seeking to address any open issues and questions.
-Evaluation – Customer service requires conviction and passion to aid others. Once complete with your calls ensure you also evaluate to carry these themes from call to call.
No Clients are the same
You must adjust this process to fit your business and strategy. Ensure success by evaluating your clients, and your staff to closely align the staff with compelling client needs. Document your successes and discuss these with your team, so that your game plans adjust as new needs arise.
Why People Fail in Online Businesses? (part 1)
Posted by admin in online business on Jul 15th, 2010 | 0 commentsDo you think that starting an online business is easy? If so, take a look at this FACTS…
44% of new businesses in the real world close their doors within the first two years of opening them. In the first four years, 66% of small businesses fail. In the online world, the numbers are worse. Everything is faster on the internet and that includes the deterioration of new businesses. 95% of online businesses fail and they fail in a matter of months.
9 out of 10 businesses in the real world fall into bankruptcy in the first 5 years of their live and from the 1 that survive in the first 5 years, 9out of 10 fall into bankruptcy.
I am sure that you have heard of this statistics, long before i told you.
Then if the statistics are right, you could ask me…
“Tudor why are so many people willing quit their jobs to start their own business?”
For this questions are many answers, but 3 are most important…
1. People quit their jobs to start their own business, no matter if it is online business or offline business, because they prefer to avoid rush hour traffic in the morning on the way to the office and in the evening on the way home from the office?
2. Everybody hates their boss. Even if you like your boss, you prefer not to have a boss at all. That’s the allure of the internet. Making money in your pajamas and answering to yourself.
3. PEOPLE LIKE FREEDOM. They don`t want to have someone to tell them what to do, when to eat, when to get up (except maybe the ones that want to be the Apprentices of Donald Trump J ).
But an allure is just that, an ALLURE. So don`t be fouled. Online business is tough business, even if you think the opposite. Believe me, I KNOW.
To be your own boss, you have to be more orderly. This is were the temptation comes. After you started your own business you are tempted to be more relaxed, to work less, to think that the world is their`s.
But…
The truth is… after you started your own business YOU CAN`T RELAX, YOU CAN`T STOP WORKING LESS, YOU CAN`T THINK THAT BANKRUPTCY WON`T HAPPEN TO YOU…
On the contrary…
YOU HAVE TO WORK TEN TIMES AS HARD, BE FOCUSED ALL THE TIME ON YOUR BUSINESS, because if don`t do it, you will soon realised that you were a FOOL, and you should have never start this business.
Having your own business is more demanding than having a JOB.
Why?
Because if you quit your job and your stream of revenue stop pouring into your pockets, soon you will die of hunger. If you can`t make your business to work, why did you started?
To say that you are a BOSS?
Stay tune for Part 2
Simple Business Management Ideas – Big
Posted by admin in Business management on Jul 15th, 2010 | 0 commentsWith the current state of the world economy the way it is business owners of all sizes, large or small, must concentrate on effective business management to ensure maximum profit returns are achieved. A thriving business does not stay that way unless the business is managed effectively or you have a whole lot of luck. Most often small business are feeling the pressure more so than large business however this is not necessarily a proven fact and all businesses need attention to maintain profit and growth as well in the economy of today.
Often basic management is overlooked however these tips will help in ensuring you are doing the best that you can for your business and there are some areas you can concentrate on right away to help you through the current climate and with a view to increasing your business results as well.
People Management
Make sure that you are making effective use of your staff and getting optimal results from your customers as well. Take the time to get the ideas and suggestions your employees and customers have to offer you. You employees are aware of the current financial situation and while you are spending time focusing on your own financial situation and the business your employees are also considering their future either with a possibly down turn in business or perhaps staff cuts to minimize costs. So make sure that you are talking with your staff. Make them a part of your business plan, you do not have to follow every suggestion they have for improving the business or income but you may find that they have some ideas that you can use in part or full to improve services or products for your customers.
Make your customers aware that your business is seeking to thrive and continue so whatever service or product you deal with show enthusiasm and excellent customer service to your customers. Make sure that they are satisfied or make improvements based on customer feedback to ensure you continue to maintain regular or loyal customers during this period as well.
Focusing on your existing customers helps maintain your current cash flow. Do not loose focus on obtaining new customers but make sure that you are not loosing the customers you already have. Keeping your existing customers is generally a much easier and more effective business management tool than only focusing on obtaining new customers. Your existing customers when believing they are receiving great service or products at good value will also pass this on to their friends or family which in turn can improve your new customer in flow.
If you have specific staff that are excelling in certain areas make sure that you are using those people to your best advantage. Have them improve the level of knowledge of your other staff at the same time to give you an overall improved knowledge base within your business.
Analyze Costs
Maintaining your business cash flow is a very important factor in being able to survive in a period when the economy is not at it its best. Conduct a cost analysis of specific areas of your business to ensure there is no cost overflow or wastage. Especially focus on areas where you are possibly able to negotiate better terms or services from external providers. Such as banks etc., where you may be able to detail all costs currently being charged and if you can find a similar institution offering better deals you should approach your existing provider and see if they can match these conditions. They also need to retain their customers and you may be surprised at what they can do for you in order to retain you as a customer.
Check into factors such as extended credit where perhaps now you are offered a 15 day period, you may be able to increase this to a 30 day period. However do not consider extensions of credit times to be an overall benefit, you are still required to pay these creditors and pushing the dates further only places the stress related to these payments out over a longer period of time. Do not spend funds that you do not have if you can avoid it. Improved payment terms can be a benefit but don’t loose sight of the fact that these payments are still required.
Marketing
Make sure you fully understand your market, and analyze whether there are areas that your business could further succeed but you have yet to approach with a marketing strategy. Check your products or services costs over those of your competition and ensure you are being competitive. This does not mean you have to offer the lowest cost for all services or products as long as your customer service and satisfaction to your customers is evident. Being the cheapest is not always the best option. However over pricing your products or services will definitely lead to a reduction in your repeat business or new customer interaction.
Make sure that you are still focusing on advertising and marketing of your products and services. Don’t decide that this is the first area you will cut back in your business if you are required to do so. You need to ensure your name and what you offer is getting out there to the customers you wish to entice.
These are just some very basic suggestions for business management, there are many other factors to consider in operating your business and you should do as much research as you can and be constantly improving the way you operate your business. Focus on what you have as well as what you want to achieve and be mindful of changes in certain areas income producing areas and whether you may need to make alterations to the management of your business.
6 Business Management Tips You Can Live With
Posted by admin in Business management on Jul 15th, 2010 | 0 comments1. Set goals.
The number one business management tool you can use to better your business is goals. Long term goals, short term goals and mid range goals too. In fact, when you started your business, you wrote a business plan right? Did your business plan include your goals?
Business goals can include anything from how much you want to gross this year to how many hours you want to work. In fact, it’s a common business management goal to work as few hours as possible and make a substantial income. It’s one of the reasons many people start an online business in the first place.
So what are your goals? As you write down your goals, take the time to make sure they meet the following criteria. Are your goals measurable? It isn’t enough to make a goal that you want to make more money or you want to work less. How will you know when you’ve achieved your goal? Quantify your goals so they’re measurable and you know when you’ve achieved success.
Make your goals timely. What is your deadline for your goal? If you don’t have a deadline for your goal, they’ll slip away and never get accomplished. A deadline makes you accountable for your goals. Along with timely is the ability to make your goals attainable. There’s nothing worse than setting a goal that is so beyond your reach you end up feeling defeated. Create your goals wisely, establish a plan to achieve them and you’ll create a pattern of success that will expand beyond your business and into your personal life too.
2. Set your business up the right way.
By setting your business up, we’re talking about both as an entity, LLC, sole proprietor, s corp. etc.., as well as setting it up separate from your personal life. Get a separate business account. Obtain a business address and phone number. Separate and set up your business as an individual entity. This not only protects you legally it covers you with the government and tax system.
Take the time to meet with an accountant to get a best practices system established for accounting, this means all of your payables, receivables and taxes. If you take these measures in the beginning, you’ll make your business life easier both day to day and in the long run.
3. Automate what you can.
The wonder of doing business online is that there are so many features and tasks you can automate. Invoicing can be automated, shipping and fulfillment can be automated. Email marketing can be automated, tracking your web statistics, advertising and even content distribution can all be automated. Automate everything you can to enable yourself more free time to spend on tasks that generate profits or simply to give you more free time to enjoy your life.
4. Outsource well.
Speaking of saving yourself time. Outsourcing is a fantastic tool to give your business a step up and to give you a little less stress. Many self-employed business owners, work somewhere between 40 and 80 hours a week. It can be a lot of stress to own a business and handle every single task and responsibility. That is just one reason to consider outsourcing – save your sanity and spend more time focusing on you and your family.
There are a number of tasks you may be considering outsourcing. They generally fall into a few categories:
• Administrative tasks. These are often time consuming tasks that do not have a high hourly value, yet they need to be accomplished to make your business run effectively and efficiently.
• Professional tasks. These tasks often fall under the realm of copywriting, scripting, managing an affiliate program, marketing tasks and the like. They are important to your bottom line, however they can be effectively handled by an outside professional at a nominal hourly value.
• Technical tasks. These are tasks that may take you some time to learn how to do. They often fall under the realm of creating software, databases, special web languages, and so on. These are time stealers simply because of the time it would take for you to learn how to do these particular tasks. Their hourly value can be quite high. The impact on your bottom line varies from task to task. If you’re creating a new web element, it may contribute directly to profits.
Take a look at your job description. What can you outsource to make your business run more efficiently?
5. Tell people what you want, not how to do it – create systems and accountability.
Delegating responsibilities is good business. Here are a few ideas on how to work with others for maximum results.
• Establish a system of communication that works for both you and your employee. Use the system to include what you want accomplished and by when. Use the rules for goal setting; make the task measurable, timely, and attainable.
• Communicate the task clearly. Make sure that all deadlines, resources, and task responsibilities are thoroughly communicated. Ask your employee questions to make sure task is understood. Once you assign the task, let it go. When you let go, you can focus on tasks required to grow your business and improve profits.
• Upon completion of the task provide feedback to your employee. If constructive criticism is required, sandwich it between positive feedback for best results and to ensure a quality working relationship.
6. Business plans and budgets.
It is a good business practice to have a business budget built right into your business plan. This is particularly important if you plan on seeking financing for your business. Having an accurate and realistic budget will enable you to make educated spending decisions.
When creating a business budget your first step is often to determine your expenses. Your expenses include operating costs, taxes, the costs of outsourcing, marketing, publicity and so on. Make a list of all categories you anticipate having costs and all areas where you already know your expenses.
A budget is not a money diet, it is a spending plan and this is particularly important when it comes to your business. You want to make sure you have enough money to pay your bills and grow your business. Track your expenses and income and review your budget often. If you find you’re spending more in one category, make the adjustments in your budget.
When it comes to owning and operating a business, a few good business management practices can go a long way. Take the time to organize your life, outsource and automate what you can, establish processes to communicate your needs clearly, and structure your planning and spending in a way that makes sense for you.
