Schlagwort-Archive: Business Tools and Resources

Marketing

Ready To Be Your Own CFO?

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If you are anything like me, budgets and finances are not even remotely on the list of your favorite things. Even bank officials sometimes struggle to keep up with their own personal finances, and most entrepreneurs do as well. You’re concentrating so much time on your business, your personal checkbook takes a back seat. But unfortunately, if you haven’t saved enough to back you up during lean times you may panic.

Well, just apply your professional talents to the situation and become your own personal CFO. If you can look at things with CFO eyes, you will be more detached and more prone to finding a solution. Here are 5 simple steps you can take to take charge of your finances.

You can be a board of directors yourself. To make good decisions, you must know what you’re trying to achieve. In business, Board of Directors write mission statements to keep the company on track with goals. If you are running your personal finances, it is your responsibility to come up with a goal you can work toward. And, financial goals are not the only thing that can be included – life goals are just as important.

Have an idea of your monthly expenses. Have you ever totaled your expenses? Businesses must do so because they customarily measure their expenses to an historical pattern. But when it comes to daily life, most people have no clue of how much they spend. You can make out detailed budgets, but find out at the end of the month that you haven’t stuck to it. It is better to create a cash flow sheet, to see where all the money goes, month after month.

Know Your Net Worth. Companies measure progress toward goals through balance sheets which list their assets and liabilities. Your net worth is your balance sheet where you list everything that you own. That means your checking and savings accounts, investments, car, house, etc. minus everything you owe. Track your net worth quarterly to make sure you’re moving toward your personal goals. This step is great in showing you the result of some of your money decisions.

Forecast Money Decisions Results. „Scenario planning“ is a strategy used by some companies. They try to come up with possible results of different choices to make the best possible decision. You can use the same concept for personal finances. If you have to make a choice, guess what the outcome of each possible path will be. Keep in mind that there are no bad choices, but some choices will get you closer to your goal than others.

Track Progress by Annual Reports. Your priorities and the way you do things may have to be adjusted year after year. How close are you from achieving your goals? Did you make any changes in the way you spend? Were your expenses less that what you earned grossly? Were you able to save anything?

You need to treat your money like you treat your business. Give it the time it deserves, because in the end the time you spend is really an investment in yourself and your dreams.

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Marketing

Making Your Advertising More Unique

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Usually, choosing the right marketing medium is very hard. A business must make use the right marketing materials to generate sales. But after deciding on which advertising material to use, creating and designing the material is your next concern. You have to make sure that it is clean, crisp, and professional-looking.

You should think how you consider a stranger’s appearance right away when he enters your place. If he dresses well, is groomed, and has good manners, then you would be impressed. This also applies to posters. If it has a happy, healthy, well-fed appearance – if its content are convincing, bright and written by writers who understand their subjects, if its paper, typographical appearance and general get-up impress you favorably then it is a safe assumption that the poster has character, weight and circulation.

You have read some posters that somehow fail to interest you. That would be because those posters lack life, meaning, and individuality. It fails to catch your attention rightly because it has a dull, negative, sullen influence. The matter of putting individuality in poster advertising is very important.

For instance, a salesman enters your office to sell his goods. There may be nothing extraordinary in the man’s manner, conversation or appearance, but in such a short time he was able to fill your office with his individuality and when he left there is a large hole in the atmosphere which he just vacated. Another salesman enters with equally attractive products and prices but because of his lifeless, dull manner he failed to make an impression.

That is why you must have individuality in advertising as a whole. Individuality is the expression of one’s self without fear or favour all the time. If you want individuality, then you must have the creative power. The creative power must be cultivated, since it is needed to prepare a good advertising copy.

Even a small sparkle of individuality is enough to lift a single ad above every other ad in a paper, and when this is done a positive result is achieved. Keep in mind that oftentimes there is too little thought put into advertising. So this tells you that you must give a lot of thought to your advertising. Doing this would bring you many advantages in the long run, such as improved income, a pleasing fame as an advertiser, etc.

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Marketing

Networking And Your Past Customers

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Your past customers will be of value in your future businesses. As you get each new customer you want to network with that customer again in the future, to keep your business in their mind, and to keep them on as a walking and talking billboard for your business. Business in the future would involve repeat customers and referral customers, both of which are needed to the ongoing relationship of your business, the consumer, and the local surroundings.

How can you network with your previous customers? You can network with them no matter if they are online or not. You can just send an email or a note. Ask about their day; talk with them by name, and offer advice or to continue with the conversation when they have time to chat with you. Talk about what they’ve bought or what work you’ve done for them. Ask if there is anything that can be done to improve the process, they went through while dealing with your business.

You can network with your best clients by taking them to lunch or having something special delivered to their home. As you continue to acknowledge your largest clients, they will keep you fresh in their minds. They would share to others what they feel about your business and what you’ve done for them. This is typically done for those largest buyers only.

With online businesses, newsletters, emails, e-zines, and coupons are sent to their previous customers to keep contact. It’s very important to keep the lines of communication open so that your previous customers would still be updated. This in turn is going to increase sales, one repeat customer at a time.

Never forget about your previous customers. In the offline business, and in online business you can network with your previous customers by creating mailing lists and using these mailing lists. You could give a statement like, „Since we have done business in the past, we would like to offer you a special price in our Networking organization“. This might be advertising, but it is networking at the same time because of the previously established relationship with that customer.

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Marketing

Making A Home Based Travel Business Work!

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More and more, home based travel businesses are gaining popularity. Though it may seem simple to run a home based travel business, you need to know what kind of home based travel business you want to run and what types of situations you will deal with in running a home based travel business.

Basically, there are two types of home based travel agents – referral agents and booking and selling agents. There is not much to being a referral agent – they do not book reservations nor sell travel products, but in their home based travel business, they direct the consumer to the right travel agency, which would, for their part, seal the deal and book the reservation for the consumer. If you are not conversant in travel industry technicalities, a beginner by any other term, you may want to focus on referrals when running your home based travel business.

However, you may consider the home based travel business of being a booking and selling agent if you are comfortable with and/or interested in dealing with the more detail-oriented side of travel and tourism. You can operate a home based travel business based on certain niches – Europe, Caribbean, cruises, Cabo, etc. – or plan whatever trips you feel comfortable in booking and dealing with. This would be a home based travel business that would behoove you to really work with the consumers, and really suss out the details in order to come up with a trip that would meet the client’s needs and preferences. The commissions are the best part of this type of home based travel business, even if it does appear to be hard work, and it IS hard work.

So what really are the advantages of starting a home based travel business? First and foremost, you run the show, you choose your own hours, you handle every aspect. But those are the obvious benefits – by running a home based travel business you could even get yourself a chance to go on a neat little vacation or two per year.

Starting a home based travel business would require you to get in touch with a host agency first. Remember that the host agency is supposed to be a separate entity all together from your home based travel business. Your home based travel business will be working in conjunction with the host agency, but your status is not as one of their customers nor as one of their employees or staff. The relationship shall strictly be business.

Embarking on a home based travel business venture is something certainly worth thinking about. Remember the two main types of home based travel businesses, and choose based on your desired customer based and your ideal level of involvement. Of course, do not forget to contact a host business – accomplish that and your home based travel business is yours to gain some reward and experience from.

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