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Don’t Start a New Business without These 7 Essentials

businessStarting a new business can be thrilling. Sometimes you can get so excited about your new idea that you don’t want to take the time to do the necessary groundwork so that your business will have a solid foundation. Channel your enthusiasm into a few of these more mundane fundamentals of business so that when you begin to bring in customers you’ll be ready to handle anything.

1. Operating Capital – A new business is going to need money. Think about how you want to finance your enterprise before you begin making widgets or booking clients. Whether you use an existing savings account, a business credit card or a traditional small business loan, you need to secure funding first if you want your business to really get off the ground.

2. A Business Plan – Sit down and write out a solid plan for your business. Include plans for expansion and ideas for what to do if things don’t go as you expect. A good business plan is also helpful for securing a small business loan because it shows that you have thought the business through.

3. Plenty of Patience – A new business takes time to begin turning a profit. Quite a few tedious tasks have to be done before you can focus solely on your business, as well. Be ready to fill out plenty of paperwork and be prepared to wait longer than you might expect the orders to come rolling in.

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4. Information on State and Federal Tax Laws – Find out what you need to do in order to comply with state and federal tax laws regarding your business. Make sure you know how much sales tax to collect and what kind of tax information you need to provide the government concerning your company.

5. Appropriate Licenses or Permits – Some businesses need special permits or licenses to operate legally. Check local laws to make sure you have all of the necessary paperwork in order so that you don’t have to face fines or other legal problems once your doors open. Be prepared to pay fees or work with an appraiser for some licenses and permits.

6. Product Research – Spend some time researching other businesses that are similar to yours. Find out how much they charge for the same products and services. Think about how you can be competitive in the market you are interested in. You might find that you need to adjust your original business plan. It is better to learn about potential problems in the market before you begin the business so that you can make changes without disrupting relationships with clients.

7. Willingness to be Flexible – No matter how much you research and plan for your business, things will happen that you do not expect. Be ready to roll with the punches and make necessary shifts when you have to so that your business can remain viable. Stick to your business plan as a general blueprint for your company, but allow yourself to make changes when the real world doesn’t follow the script you prepared before the business began operations.

Once you establish your earning power with your new business, you’ll need to purchase a life insurance policy to protect those who depend on your income. Shop the best rates at www.LifeInsuranceQuotes.info.

3 Ways To Keep Your Employees Happy

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The job market today is extraordinarily competitive. Not only are there plenty of employees seeking work, but there are many different employers seeking quality staff. As a small business owner, consider it your job to be a beacon of light in the shadows of potential employers. As much as employees should seek to do their jobs well in order to keep their employment, employers need to offer incentives to keep great employees on board. This can make the difference between a great business plan strategy and a strategy which fails.

Trust Your Employees

There is always a fear as an employer of fraudulent employee claims and theft. This being said, there are many good employees who feel that they are automatically subject to being treated as untrustworthy. As an employer, do your best to give your staff the benefit of the doubt when it comes to being trusted, and treat them as respectfully as you can without turning a blind eye to warning signals. Always protect yourself by performing reference checks before hiring staff members, and you shouldn’t have to worry too much about issues at your small business.

Offer Employee Benefits

One of the premiere things that potential staff are looking for in an employer is the presence of a reliable group health insurance plan. If your company offers health coverage to your staff, even partially, it will set you apart from so many other employers in your industry. In order to keep useful employees, you need to show them that the health and wellness of their family is a priority for you as an employer. You can also offer other benefits, such as paid vacation days, a substancial discount on company products or services, and more.

Educate Your Staff

As a business owner, it’s important to you to be ahead of the game when it comes to business strategies and investments. As such, keeping your staff involved in furthering their education is almost always beneficial. Workshops, seminars, conferences and night school courses are an amazing way to keep your employees on the cutting edge of industry, as well as engaging them in staying interested in the field. Consistent challenges and learning create motivated, forward thinkers which stand to benefit your company in a big way. Consider partial funding for these programs as a long-term investment in your staff, as well as your business, and consider that this practice will be money well spent. These types of incentives are often tax deductible, so talk to your accountant to find out just what you can afford.

Allison writes with GroupHealthInsurance.org, which allows you to find an affordable plan that gives your employees great health coverage.

Five Tips for Better Marketing

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Marketing has long been critical to the very survival of the vast majority of businesses. Good marketing can ensure that a business is noticed by its target audience for all the right reasons and can direct potential customers to the company.

Conversely, bad marketing has the potential to damage the reputation of the company or at least fail to direct potential customers to the business. Every business should therefore be interested in improving their marketing techniques and making sure that they are taking full advantage of the marketing opportunities available to them.

Efficiency

Efficiency is essential to good marketing. The business wants to generate the most interest in its products and services for the lowest price. Services such as promotional texts and voice calls have the potential to reach a vast target audience at a relatively low cost. Once the message or voice recording has been created it is simply automatically distributed on a large scale.

Global reach

It makes good business sense for companies to invest in marketing techniques which have access to significant global markets. For example, mobile phone networks and social networking websites have billions and millions of subscribers respectively. Making use of such potential would be more efficient and more beneficial than a technique with laser scope.

An indirect approach

While direct marketing does have its place, indirect marketing can also prove to be beneficial. By using modern avenues of telecommunications through techniques such as surveys and competitions the business can access a market which may not be as responsive to direct marketing. Such methods are more subtle but do provide the company with much needed positive publicity.

A personal touch

While attempting to personalise a marketing campaign can pull in the opposite direction to creating an efficient marketing campaign, an effective balance can be achieved. For example, if the company were to send voice messages a generic template could be used but with an element specific to each recipient. That way the business can enjoy the economies of scale of mass marketing but still make each recipient feel valued.

Follow market trends

While there is a general trend toward mobile communications within the field of business marketing there are more subtle trends within this general field. Currently, many businesses are focusing much of their energies toward marketing through social networking websites. With millions of users worldwide and access through mobile phones the potential market is impressive.

However, when it comes to business marketing it is important not only to be able to determine which means of marketing would be most effective at present but to also predict future market trends. By doing so, the company can remain ahead in the field of marketing and be able to react instantly when a different avenue of business marketing becomes more relevant to the company. In this manner the business can ensure that it remains at the very forefront of business marketing and can draw people to the company.

Article by Crispin Jones for Collstream. If you want to send voice messages or promotional texts, click here.

How Lead Information Can Be Managed By Contact Management

Buisness 
Cards

Knowledge of contact management is essential for maintaining leads. The first phase in the sales pipeline is identification of a person who can be a potential customer. This can be in the form of a person right in front of the sales representative, an address, an email address, or a simple mobile phone number. Such contact details of a lead are very important as this is the first step in the sales process.

There might be nothing that the business might know about the lead apart from his address or phone number. So being the single trump card of the game, the company has to be very meticulous and particular in storing the contact details of the leads.

Contact Management is the process of storing and finding contact information of leads. Such suites or tools are generally shipped with a central repository which would be responsible for storing all the contact details and all the sales personnel would have access to the database. This ensures a fully integrated approach and multiple sets of sales personnel can work on common and different sets of data without any dependencies. Such a contact management suite has to be always linked with activities that are conducted with these contacts.

Customer relationship management tools like salesforce.com come equipped with contacts and activity management modules which are fully integrated with each other. Some of the tools also include a calendar integration feature in which one can record details such as recording of dates such as appointments, birthdates of contacts etc. A contact management system provides lot of advantages and some of them are listed below:

  • Centralized database of contact information – With a single point of contact, a centralized database approach is very helpful given the geographical distances between the sales personnel. Business houses, these days are widespread across the planet and it often helps to have a centralized storage of information that can be accessed from anywhere within the organization.
  • Searching and Indexing – Storing of information really won’t solve any real purpose, unless this information can be fetched quickly and easily. A search feature is something that all contact management tools offer these days. One can search contacts on the basis of a lot of search preferences like name, phone, address etc.
  • Email & Calendar integration – Some of the tools today provide an out of the box integration with existing email clients like Microsoft Outlook and Lotus Notes. This sort of integration helps the sales personnel still use the tools that they are most familiar with and access the centralized database that the CRM suite provides.
  • Documents upload and indexing – With internet and multimedia on the forefront of technology, many contact management suites also provide a way to tag documents to the contacts. Such documents can be visiting cards, photographs of the contacts and so on.

A contact manager is typically useful when single sales personnel has to interact with a lot of clients and is responsible for performing various roles and responsibilities in the enterprise.

Once you utilize proper contact management, you can begin working on implement an online CRM system. This will definitely help you increase sales and find new prospects.

Why Your Business Needs an ATM Machine

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ATM machines have long been one of the most convenient ways for a person to get cash. They are becoming increasingly popular in businesses ands storefronts that cater to a lot of customers. If you are a business owner, you may find that adding an ATM machine will provide several benefits to your business.

Impress Customers

Convenience and value are some of the most important things you can offer a customer. Customers will appreciate the convenience an ATM machine offers. This will easily increase the value of your business in the customer’s eyes. You will likely attract new customers who enter the store to use your ATM machine. Quite often, people who withdraw money from an ATM at your business will end up spending their money at your business.

Increase Profits

The amount of money you make off an ATM machine will depend on several variables, but there is a good chance that the ATM machine will increase your profits one way or another. You have several options when it comes to securing a machine for your business. You can buy or lease your own machine or you can contract with an ATM machine business. When you have your own machine you can set the surcharge and keep all the profits, while going with an ATM machine business likely means you will only get a portion of the proceeds. You will get more income by owning your own machine, but it requires a considerable amount of money up front. Both ways have their advantages and disadvantages, so you want to research both before making any decisions.

Reduce Your Costs

Fees associated with banks and credit card companies add up over time. If you have many people using their debit or credit cards to pay for items rather than cash, there is a good chance that adding an ATM machine will increase the percentage of customers paying with cash. This means fewer bank fees for you. The ATM machine will also be great to have as a backup should anything happen with your credit card processors. Most people don’t carry checks, so an ATM machine may be their only recourse.

Adding an ATM machine may be the boost your business needs. Whether you run a successful store or are just starting a catering business and are considering a portable machine, you should evaluate some of these benefits to determine if adding an ATM machine is right for your business.

Simple Guide to Money Saving Tips

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One of the most important steps to financial well-being is to find ways save money. This will give you a lot of money saving ideas that is good for short term and long term purposes. For short term saving, it will give you an emergency cushion when unexpected event will occur, even if it urgent and unexpected expenses arises. With a long term saving, you can enable to accomplish your all your goals most specially in your financial needs. You can actually finance your child’s education, a house and lot purchase or even your retirement.

Save money

Being thrifty and a way of saving money is neither defined as a science nor an art. It requires commitment and hardwork. It really takes time to develop saving money. You first need to learn and appreciate the benefits it may bring. You can easily make up for your loss when you save money. You can also count on tips for saving money as this gives you a lot of good and smart things in saving money. Money saving tips will render good results in the future.

Start today

If you want to know how to save money, then, start it today. Do not wait for tomorrow and regret for it. Saving money is just like planning your future. You can really visualize how your life be if you have enough money to have all the things that you want in your life 10 to 20 years from now. There are lots of money making tips that can help you in saving money. You can use the internet for it can give you a lot of information about earning money. See and feel the exciting presence of your frugality and saving means.

Credit Cards

There are people that they do not need cash as a means of payment. They are just claiming that they have their credit cards that will help them in paying their bills. They did not even know that credit cards will drown them to debt if it reaches its maximum amount. Taking credit cards as a means of payment may fall people to a dangerous trap. It is because of the high interest rate that a credit card brings. This may sound difficult and it is hard to endure. If this is so, you can still consider alternative choice for your financial constraints. You can go over a home equity line of credit that will significantly give you low interest rates on credit cards. Generally, even if it is low or high rates, still it is not really advisable to always rely on credit cards. Time will come that you will used to use credit cards by all means.

Always remember that in saving your money, you are within your control. It can bring you exactly the benefits you expect. If you start saving today and gather all guides for money saving tips, you will reap all those rewards when you save money for years to come.