Field kit for entrepreneurs e book

FIELD KIT FOR

ENTREPRENEURS CompilationofTriedandTestedTricksfor

IntrepidBusinessVenturers

(2012Edition)

FIELDKITFORENTREPRENEURS2

TABLEOFCONTENTS

TABLEOFCONTENTS..................................................................................................................2

FOREWORD ................................................................................................................................4

TheBusinessConceptualizationProcess ...................................................................................6

ChoosingaRightBusinessName ...............................................................................................7

Branding:LayingtheFoundationofaNewBusiness .................................................................8

EssentialsofStartinganOnlineBusiness...................................................................................9

Top4LoanGrantTactics..........................................................................................................10

HowtoSetUpYourWebsite ...................................................................................................12

ImportanceofCreatingaCorporateBusinessProfile..............................................................15

PitfallsEveryEntrepreneurShouldAvoid ................................................................................16

UsingSocialMediatoBoostSales............................................................................................18

TakingAdvantageoftheBeste‐CommerceTools ...................................................................19

4WaystoImproveYourWebsiteRanking...............................................................................20

Top5AppsforYourBusiness...................................................................................................22

HowtoMakeYourBrandMatterinSocialMedia ...................................................................24

HowtoKeepSeasonalBusinessesAfloat.................................................................................25

HowtoReviveanAilingBusiness.............................................................................................26

TopSocialMediaBlunderstoAvoid ........................................................................................27

HowtoQuicklyGainTractionintheSalesFront......................................................................29

Best5OnlineLeadGenerationTechniques .............................................................................30

MakeOnlineEducationWorkforYou......................................................................................32

HowtoMakeFinancialForecastsforYourBusiness................................................................34

4WinningImprovementsforYourCollectionsDepartment ...................................................36


GivingYourOnlineStoreanAttractiveMakeover ...................................................................38

HowDoICloseMyFirstSale?..................................................................................................39

HowtoInspireStafftoPerformBetter ....................................................................................41

TacticsforMarketingServicesOverseas..................................................................................43

HowtoHandleOfficeWhiners ................................................................................................45

TheTopHome‐BasedBusinessesfor2012 ..............................................................................47

www.writer‐shack.com

AllRightsReserved.Copyright©2012JosephMapue.Thispublication

maynotbetransmitted,reproducedorstoredinpartorinwholebyanymeanswithouttheexpresswrittenconsentofthecopyright

ownerexceptforbriefquotationsinarticlesandreviews.


FOREWORD

||ForFreelancers&Entrepreneurs|Theworldgoingglobalistheperfectreasonwhycreativeandbusiness‐mindedpeopleshouldconsiderbecomingentrepreneurs.ThepossibilitiesandmarketnichesareendlessandthetoolsforstartingupabusinessareeasilyaccessibleviatheInternet.Ifyouarecontemplatingonbeingoneyourself,herearesomepracticaltipsyoushouldbearinmindifyou'rebentontreadingthestraightandnarrowpathofentrepreneurship.

1. Ifyouhaveadayjob,waitfortherightmomenttoquit.Itwouldn'tdoyougoodtoletgoofasteadysourceofincomeifthebusinessyouareenvisioningisyettobefinanciallystable.

2. Neverwaitforapprovalbeforebuildingsomethingyouarereallypassionateabout.Justbuilditandbuilditwithlove.

3. Determinethebestmarketnichetoservice.Inalllikelihood,wallowinginacrowdedpoolofproviderswillsapyourenergywithoutreininginthereturnsyouarehopingfor.

4. Establishastrongonlinepresence.Neverscrimpongoodwebsitedesign,optimization,andsocialmediaintegration.Thesewillhelpyourbusinessinverytangibleways.

5. Whenyoualreadyhaveaproductorservice,alwaysevolveordiversifywhatyouofferinordertoimproveyourvaluetoyourtargetcustomers.

6. Hiregoodpeoplewhoarecompetentenoughthatyou'rewillingtoworkforthem.

7. Demandexcellencefromyourstaff,andmoreimportantly,fromyourself.

8. Socializeandbuildstrongnetworks.9. Connectmeaningfullywithyourcustomers.


10. Neverquitbeinganentrepreneur.Creativity,energyandmotivationarecorevaluesthatdifferinintensityamongsuccessfulentrepreneurs.However,theyallhaveastrongrepugnancetotheword"quit."

Entrepreneursarethemaindriversofglobalprogress.Theyrepresenttheintersectionofdreamersandpeopleofaction.Theyinnovate,introduceproductsandservices,generatejobs,andmaketheworldamuchinterestingplacetolivein.Ifyouareone,itwouldn'thurttoconsidertheforegoingtips.NeitherwouldithurttoreadtherestofthiseBook.Muchofthebitsofwisdomthatmadetheirwayherewereadaptedfromtheexperiencesandpersonalinsightsofsuccessfulpeopleinthefield.


TheBusinessConceptualizationProcess

||ForFreelancers&Entrepreneurs|Withouthumancreativityandimagination,greatideas,technologies,andinventionsthattransformliveswillnotbepossible.Profitablebusinessesarenoexception.Theconceptualizationprocessesthathelpmakenewtechnologicalmarvelsworkarethesameprocessesthatallowinnovativeideastobecomeglobalbusinesses.Afterall,justaboutanythingofworthstartsasanidea.Effectivebusinessconceptualizationsentailalotofbrainstormingandplanning.Italsoinvolvesdrawingupcreativesolutionstospecificproblemsencounteredbycustomers.Lastly,theresourcesrequiredtomakethebusinessideaworkshouldalsobeestablished,withthemaingoalofacquiringtheseresourcescommunicatedclearly.Toleveragethebusinessconceptualizationprocess,thekeypeopleinvolvedshouldowntheprocessandgraduallyformaconsensusaboutthebusinessidea.Todothis,thekeypeople‐‐whocanbeasingleentrepreneurorasmallgroupofbusinesspartners‐‐shouldestablishandagreeamongthemselveswhatthebusinessideastandsfor(itscorevalueanduniquesellingproposition)andforwhichpurposesorgoalsitisbeingoperated(itsvisionandmission).Stronglycommittingtothefundamentalaspectsofabusinessideawillprovidethestrongfoundationnecessarytoexploreandestablishotherimportantaspectsofabusiness‐‐suchasfunding,resourcemanagement,dailyoperationsandstaffing.Anotherimportantelementofthebusinessconceptualizationprocessisthebusinessmodel,orhowabusinessgeneratesprofitforthepeoplewhorunandworkforitaswellasfortheinvestorswhoprovidefundsforitsinceptionandsubsequentexpansion.Conservativesimulationsshouldprovideanobjectivebackgroundonhowthebusinesscandelivervaluetoallstakeholders


ChoosingaRightBusinessName

||ForFreelancers&Entrepreneurs|Businessnamescanmakeorbreakafledglingcompany.Thisiswhychoosingtheperfectbusinessnameforyourstartupisveryimportant.Whiletrulyanenjoyableandexcitingprocess,choosingyourbusinessnameshouldresulttoafinaloutputthatconveysthecorevaluesofyourbusinessinawaythatfavorablyengagesyourtargetmarket.Rememberthatfornewcompanies,itisthebusinessnamefromwhichpotentialcustomersfirstassesswhetheracompanyhaswhatittakestomeettheirproductorservicerequirements.Hence,choosingonethathasapositiveconnotationandgeneratestherightimpressioniscritical.Establishingabusinessnamethatisalignedwithyourbusinessstrategycanberewardinginthelongterm.Afterall,yourbusinessnamewillformthebasisofyourbrand/sandalltheproductlinesyouwillbedevelopinginthefuture.Agoodbusinessnameisonethatisbothmemorableanduniquetoyourtargetmarket.Adoptingonlyonetraitwillerodeyourbrand,onewayoranother.Agoodbusinessnameshouldalsohavesomeaspectthatwillallowyourpotentialcustomerstomakeeasyvisualizations.ThinkofApple,FacebookandPuma.Ifcreatingeasyvisualizationsischallengingforthebusinessnameyouareconsidering,remembertoemploythebestartiststoconceptualizeyourlogo.ThinkofGoogle,Adidas,andLacoste.Whileitisgoodtodreamthatyourbusinesswilleventuallyattaintheglobalstatusofthesemega‐brands,itisasafebettousedescriptivenamesthattellalotaboutwhatyourbusinessis.Forexample,namingyourtaxicompany"GriffinRide"maynotmeanmuchatfirsttomostpeople.NamingitMax'sTaxisisbetter.


Branding:LayingtheFoundationofaNewBusiness

||ForFreelancers&Entrepreneurs|Brandingisoneofthemostcriticalaspectsofanybusiness.Foronething,abrandsetsyourbusinessapartfromotherentitiesthatoffersimilar/identicalproductsorservices.Brandstellconsumerswhetheryourproductorserviceisreliable,whetherit'seasytouse,orwhetheritdemandsquiteabitfromyourcustomer'sbudget.Rememberthatyourbrandshouldconveyauniquevaluetoyourtargetaudienceandthatthisvalue(orsetofvalues)shouldbeconsistentlyreflectedinyourbrandname,logo,tagline,keyphrases,andyourparticularmodeofprovidingservice.Anycompanyorentrepreneurthatconductssuccessfulbrandingcampaignsissuretoreapnotonlytangiblebutalsolastingrewardseventually.Thereareafewessentialfactorsthatyouneedtoconsiderifyouareplanningonestablishingabrandforyourbusiness.Oneistoaccuratelyidentifyyourtargetmarket.Rememberthateachproductorserviceshouldhaveauniquesetoffeaturesthatcatertoaspecificgroupofconsumers.Onceyouhaveestablishedwhichofthesegroupsisthesegmentyouwillprofitablyenjoyserving,thenyoushouldstartaligningyourbrandinawaythatwillmakeitresonatewiththeneeds,preferences,andidealsofthisnichemarket.Thenextstepistoadoptamessagethatwillstronglyappealtoyourmarket,usinglanguagethatinstinctivelypiquetheirinterest,compellingthemtowardsadeeperengagementwithyourproductsorservices.Recallsomeofthegreatestbrandmessagesthathavebeenconceptualized:Justdoit(Nike),Adiamondisforever(DeBeers),Thinksmall(Volkswagen),Impossibleisnothing(Adidas),andThinkDifferent(Apple).Youshouldthenconductdifferentmarketingcampaignsthatconsistentlypromotethecorevaluesofyourbrand.Finally,gettingcampaignfeedbacksandestablishingaccurateanalysesandconclusionsfromthesefeedbacksshouldhelpyouhoneyourbrandtotrulycaptureyouraudience.


EssentialsofStartinganOnlineBusiness

||ForFreelancers&Entrepreneurs|Therearealotofonlinebusinessesthathavebeensproutinglately.Notallhavebeensuccessful,unfortunately.Manymighthavebeenambitiousandpromisinginitiallybutstillfellbythewayside.Ifyouarekeenonstartingyourownonlinebusiness,thenit'scriticalthatyouavoidtheconceptualizationoroperatingmistakesfailedonlinebusinessesmadethatcausedthemtoeventuallyfoldup.Alternatively,knowingthewinningformulaofsuccessfulonlinebusinessesandapplyingthesetoyourownenterprisewoulddowonders.Thatsaid,thefirstadvicethatanysuccessfulentrepreneurwilltellyouisthatforanentrepreneurtosucceed,hisorherbusinessmustbecloselyrelatedtoanenduringpassion.Makingabusinessoutofsomethingyouarepassionateaboutispricelessandhasthepotentialofchangingthegameorintroducingatrulyremarkableinnovation.Anotherusefulinsightfromveteranentrepreneursistofocusonattainingcarefullyestablishedobjectives,notjustonmechanicallycompletingvarioustasks.Thelatterisamindsetcharacteristicofemployees,theformerofentrepreneurs.Makethingshappennotmerelybydiligentlyfulfillingajobbutbyreachinggoalsthatyouhavesetyourself.Establishanichebyidentifyingcustomerneedsorwantsthatareunderservicedorbyprovidingcleversolutionstoproblemsthatneedtobesolved.Focusyourenergiesonprovidingservicesorproductsthatareyettobesaturatedinsteadofenteringaplayingfieldwherethereisjusttoomuchcompetition.Finally,youshouldevolveyouronlinebusinessbasedonchangingmarketconditionsorcustomerpreferences.


Top4LoanGrantTactics

||ForFreelancers&Entrepreneurs|Formostbusinesses‐‐bothbigandsmall‐‐securingloanscanbeamajorgrowthoroperationalaspect.However,notallbusinessloanapplicationsgetapprovedbylendinginstitutions.Thisisbecausewhilebanksarejusttoohappytoreleasebusinessloans(theyearnalotfromloansafterall),doingsoforentitieswithverylowcreditratingissimplyimpossible.Inbankrationale,lendingtoentitieswithveryriskycreditcredentialsistantamounttosigningacheckwithnoexpectationsofgettingrepaidinthefuture.Thismakesloanapplicationsquiteachallengeforsomecompanies,especiallythosewithnocredithistoryorlowcreditratings.Ifyouareanentrepreneurandneedfinancingtooilyouroperationsorprovidetheinfrastructureforgrowth,securingaloanisoneofthefastestwaystodoso.Herearesometipstosignificantlyincreaseyourchancesofgettingaloan.

1. Beprepared.Knowingtherequirementsofspecificlendinginstitutionswellbeforesendingyourapplicationwillgreatlysmoothentheprocess.Getalltheloaninformationyouneedandpreparealltherelevantdocumentation.

2. Assessandpresentyourcashflowprojectionsandotherfinancial

activitiesinawaythatwillincreaseyourchancesofgettingtheloan.3. Choosethelendinginstitution/stoengagecarefully.Notallinstitutions

areprefectforyourbusiness.Somehavepoliciesthatarepro‐entrepreneurandknowingwhichlendinginstitutionsaretheseinyourareaisveryimportant.Itwillalsohelpyousignificantlyifyouhaveastrongandlong‐termrelationshipwiththeinstitutionsuchashavinghealthydepositaccountswithacommercialbank.


4. Acquireathird‐partcreditratingreportasmuchaspossible.Having

gainedagoodcreditratingfromotherindependentagencieswillboostyourchancesofbeingperceivedascredit‐worthybytheinstitutionyouwishtoacquirealoanfrom.

Toconclude,creditandloansaregoodsourcesofbusinessfundswhenmanageddiligently.TheyarealsoreasonablyobtainabledespitestricterrestrictionsthathavebeensetupfollowingthedisastrousresultsofthelaxlendingregulationsintheUShomemortgagesector.Thekeyistoalignyourcashflow,creditrating,andobjectiveswithyourloanapplicationandtopreparealldocumentationinadvancetoobtaintheloan.


HowtoSetUpYourWebsite

||ForFreelancers&Entrepreneurs|Soyou'vefinallytakenyourbusinessfromthecorridorsofyourimaginationtotherealworld.Thefactis,gettingitstartedisreallyallthatiskeepingyoufromtakingashotatyourdreams.Todothat,however,entailsalotmoreworkontopofdeterminingexactlywhat

yourbusinessisaboutandhowyouintendtofinanceitsoperations.Oneofthethingsthatcanjumpstartyourbusinessisadedicatedwebsite.

Havinganonlinepresenceisacriticalrequirementforjustaboutanybrandorbusinessthatintendstostaycompetitive.Youneedawebsitetocommunicatewhatvalueyouoffertoclientsandaneasywaytogettheirfeedback,havethemsignupforaserviceortopurchase

aproduct.Websitesareoneofthebestbusinessresourcesthatcangetallthosethingsaccomplished.

Butforapersonwhoisjustlearninghowtobeanentrepreneur,gettingyourownsiteonlinecouldbeverychallengingindeed.Thefirstthingtoconsideristodetermineandsecureyourdomainname.Thisistheinternetaddress(alsocalledurl)featurethatsetsyourcompany

apartandgivesvisitorsahintaboutwhatyourbusinessisabout.Havingauniqueandcatchydomainnameispricelessinthelongtermsoinvestenoughtimedecidingonthebestoneforyourenterprise.Rememberthatyouneedtoregisteryourdomainnametoprotectitfrom

beingreplicatedbyanotherentity.Thenextstepistobuildandhostthewebsite.Neverscrimponwebsitedesignandcopyas

theseprovidestheinitialimpressionpotentialcustomerswillharboraboutyourbusiness.Allthingsequal,aprofessionallydesignedwebsitewilloutperformamediocreoneanytime.Therearehundredsoffree,easy‐to‐usewebsitecreationservicesonthenetifyouhavea

penchantforit.Otherwise,itwouldn'thurttohireprofessionalwebsitedesignersandcopywriterstohelpyousetupaveryattractivewebsite.Oncebuilt,youcanhavethewebsitehostedbyareliableprovider.

Finally,youneedtogetpeople(alotofthem)tovisityourwebsite.Youcandothisthroughsocial

mediaandvariousmarketingcampaigns.Rememberalsotoregularlyupdateyourwebsitesothatpeoplewillhavesomethingfreshtoexperiencefromyoursiteeveryonceinawhile.


TheMostCriticalProductPricingPrinciples

||ForFreelancers&Entrepreneurs|Establishingtheperfectpricesforyourproductsorservicesisoneofthekeyinputstoasuccessfulbusiness.Discoveringthatsweetspotthatwilldeliveroptimumvalueforyourcustomersandyouroperationsislikediscoveringaveinofgold.Therearebasicallythreemethodsinformulatingprices:cost‐basedpricing,competition‐basedpricing,andcustomer‐basedpricing.Cost‐basedpricingconsidersthetotalcostofproducingordeliveringaproductplusamarkuporprofitforthebusiness.Competition‐basedpricingconsidershowaproductunderaparticularbrandcompareswithanidenticalproductfromacompetitor.Customer‐basedpricingisbasedonhowmuchvalueacustomerimputesionaparticularproductorservice.Furthermore,herearesometipsthatcanhelpyousetyourproductorservicepricesright.

1. Establishattheonsetthatyourpricingisintendedtomakemoneyfor

yourbusinessandthatanineffectivepricingcandojusttheoppositeofmakingmoney.

2. Neversetapricetoohighortoolowinanattempttogainacompetitive

edgeinthemarket.Bothcaneventuallyleadtocashflowproblemslateron.

3. Alignyourpriceswithhowmuchvalueitdeliverstoyourcustomers.To

doso,youneedtoreallyknowhowyourcustomersperceiveyourproductsorservicesandhowimportantthesearetothem.


4. Alwayssetacompetitivepricethatavoidsradicaldifferences(i.e.,toohighortoolow)fromthosesetbyyourcompetitors.

5. Implementconsumer‐friendlypricingcutssuchassales,discounts,

coupons,bulkdealsandothermarketingtechniques.6. Recognizethatwhileproductpricingisacriticalbusinessinput,itisnot

theonlythingthathelpsbusinessesachievesuccess.


ImportanceofCreatingaCorporateBusinessProfile

||ForFreelancers&Entrepreneurs|Acompanyprofileisaquicklookintoacompany,allowingdifferentgroupsofpeopletogetageneralideaofwhatacompanydoesoroffers,itstargetmarket,itsuniquestrengths,itstrackrecord,andwhetheritisagoodentitytodobusinesswith.However,companyprofilesshouldgobeyondstatingfactsaboutacompany.Well‐writtencompanyprofilesdeftlyconveythepredominantvaluesandcorporateculturethatlendstheorganizationitsdistinctcharacter.Goodcompanyprofilesshouldalsodemonstratehoweffectiveacompanyisatmeetingitscustomers'needs.Inadditiontoexistingandpotentialcustomers,corporateprofilesarealsoviewedandassessedbyinvestors,serviceproviders,businesspartners,andjobapplicants.Forthisreason,companyprofilesshouldbeoptimizedincorporatewebsites,staffrecruitmentportals,mediakitsandotherexternaldocuments,pressreleases,brochures,andofficialonlineprofilepagesonsocialandprofessionalnetworkssuchasLinkedInandFacebook.Agoodcorporatebusinessprofileshouldcontainthebasicinformationaboutthecompany.Theseincludetheyearwhenthecompanywasestablished,whereitisheadquartered,theproductsandservicesitoffers,itstargetcustomers,itsuniquestrengths,andthevaluesitiscommittedto.Ifacompanyhasbeenaroundforaconsiderabletime,abriefdiscussionoftheawardsitgained,itsachievements,orthesuccessesitaccomplishedwouldhelpestablishasolidcaseforthecompany'sdependabilityandsuitabilityforbusinessengagement.Lastly,contactinformationshouldbeincludedintheprofileinordertofacilitatecorrespondenceandfeedbackfromcustomersaswellaspotentialpartnersandinvestors.


PitfallsEveryEntrepreneurShouldAvoid

||ForFreelancers&Entrepreneurs|Entrepreneursaregoodatcreatingvaluebutitdoesn'tfollowthatallentrepreneurshaveredoubtablebusinesssense.Theyarenotexemptfromcommittingseriousmistakesandsomeentrepreneursfailatbusiness.Ifyouaresettinguporarecurrentlymanagingyourownbusiness,knowingthecommonpitfallsthatcauseevenformidableinnovatorstofailisapricelessbusinessresource.Herearesomeofthepitfallsanyentrepreneurshouldavoidatallcosts:

1. Embarkingonabusinessfullblastwithlimitedcapitalizationandunclearsourcesoffunding.Takingcalculatedrisksisanintegralpartofanybusinessoperationandisaknownmotiveforcethatfueledmanyremarkablebusinesssuccessesinthepast.However,takingunreasonablerisks‐‐suchasplunginghead‐onintoahighlycompetitiveindustrywithoutclearrevenueorfundingstreamsisaformulafordisaster.Leavingtoomuchtochanceisneveraprudentbusinesstactic.

2. Joiningthebattleasaone‐manarmy.Nobodysaidtodoyourbusinessaloneevenifyousomehowcan.Therearepeoplewhocanhelpyouimproveyourbusinessandgettingtheirhelpwillallowyoutolearnaswellasallocatemoretimetogrowyourbusiness.

3. Establishingunreasonableexpectations.Havingloftyambitionsisgoodin

thelongrunsincewhencoupledwithaction,well‐motivatedambitionsarethekeyinputstochange.However,establishingunreasonablyhightargetsoftenresulttofailureandresentment.There'snothingwrongwithwishingyourbusinesstoperformoutstandinglyandbeamajorplayerinyoursector


withinafewmonths.Establishingthatgoalwithinadequateorunreliableresourcesissimplystupid.

4. Hinginghappinessonthesuccessofthebusinessventure.Happiness

shouldbeapredominantstateofmindinsteadofbeinganevent‐drivenemotion.Otherwise,there'sboundtobealotofunhappinesssproutinginyourofficethatissuretoerodeyourprospectsforsuccess.Thekeyistodevelopacheerfulpersonalitythat'sindependentofthefortunesofyourbusiness.

Therearemanyotherpitfallsthatevenexcellententrepreneurscommonlycommit.However,theforegoingarethemostcommonandsteeringclearofthemwillhelpyouhurdlethemajorchallengessmallbusinessesencounterintheirfirstyearofoperation.


UsingSocialMediatoBoostSales

||ForFreelancers&Entrepreneurs|Thesedays,socialmediapiquestheinterestofjustabouteveryone:itsusers,topexecutives,marketers,andsocialscientists.ThereasonisthatonlinesocialnetworkssuchFacebook,LinkedIn,Twitter,andYouTubeareredefiningpeople'slifestylesaswellasthewaytheyconductbusinessontheWeb.Almostayearago,ComScorereportedthatsocialmediawasthepivotalinputthatbuoyed2010'seCommerceperformanceevenwithinthedampeningeffectsofaseriouseconomicrecession.Accordingtothereport,onlinetransactionswentupbyasurprising10percent,followingthestrongparticipationofmanybrandsinsocialmediacampaigns.Butwhyissocialmediasuchapowerfultoolforboostingyoursales?Thesimpleansweristhatindividualandorganizationalusersofsocialnetworkshavelotofwaysforendorsingideasandbrands,sometimestriggeringtheso‐called"viraleffect"thatgeneratesawarenessaboutsomethingacrossunusuallybroaddemographics.Infact,socialmediacampaignshavebeendemonstratedtoyieldsignificantlyhighROIlevelswhenexecutedproperly.Toleveragesocialmediatoboostyourownsales,remembertounderstandyourtargetcustomersandwhichsocialmediatoolcanbeusedmosteffectively.Usedifferentandfreshwaysofinteractingwithyouraudienceinordertokeepthemsufficientlyexcitedtojoindifferentcampaigns.Setupaviableandrewardsystemthatmakesiteasyforparticipantstowinandclaimpractical,attractiveprizes.Experimentwithdifferenttypesofcontentandengagements(videos,games,freedownloads,coupons,catchyarticles,etc)butmakealltheseverycompelling.Lastly,consistentlybuildtrustinyourbrandbyaddressingcustomerneedsorissuesthatmaybeverballyorimplicitlycommunicatedduringyoursocialmediacampaigns.


TakingAdvantageoftheBeste‐CommerceTools

||ForFreelancers&Entrepreneurs|Thepervadingeffectofsocialmediaaswellasonlinesearchhasenhancedtheroleofonlinestoresinfacilitatingglobalcommerce.Ifyouareanentrepreneurwhointendstostartaneworupgradeanexistingonlinebusiness,itisacompetitiveadvantageifyouknowtheexceptionalecommercetoolsthatareavailableinthemarket.Manyofthesetoolsarefreetousealthoughsomerequirefeesthatyou'llneverthelesseventuallyfindreasonableafterreapingprettygoodreturnsonyourinvestments.Foremostamongtheavailabletoolsyouneedtoelevateyourbusinessarethoserelatedtosocialnetworksandsearchengineoptimizations.Botharedesignedtodrawintraffictoyouronlinestoreandgenerateconversions.SomeprettygoodsocialmediatoolsincludeblogpublishingsystemssuchasBloggerandWordPresswhichyoucanseamlesslyintegrateintoyourbusiness'FacebookpagethroughanfreeappcalledNetworkedBlogs.Meantime,usefultoolstouseinsearchoptimizationincludethoseforkeywordandlinkmanagement.MarketSamuraiisacompleteSEOpackagethatyoumaywanttotryoutforyouronlinestore.Intermsofoptimizingyouronlinestoreitself,MagentoandLoadedCommercearebothprettyrobustsoftwarethatcantransformyoursiteintoverystunningandeasytouseecommerceshop.Neverscrimponaesthetics,simplicity,andengagingcontentasthesearesuredrawsintermsofuservisits.IfyouneedhelpinsettingupyouronlinestoreShopifyisalsoaverygoodoptionwhenitcomestoattractivewebsitedesigns.Outsidesocialmediachatrooms,therearealsoothersoftwarethatallowsyourteamtoaddresscustomerissuesinrealtime.OntopofthislististheClickDeskapplicationthateasilysetsupaLiveChatfeatureonyoursellingsite.


4WaystoImproveYourWebsiteRanking

||ForFreelancers&Entrepreneurs|Rankinghighonsearchengineresultspagesisacriticalfactortoabusiness'successonline.ThisiswhymanycompaniesemployprofessionalSEO(searchengineoptimization)practitioners.SEOexpertshelptransformwebpagesintosearch‐enginefriendlydocumentsusingtechniquesthatreducecode/contentclutterandtargethigherpagerankings.Inaddition,companiesalsoemploysocialmediamanagerstohelpdriveusertrafficintotheirsites.Herearesomebasictipsonhowyoucanimproveyourwebsiteranking.1.Optimizethemetadatatagonyourhtml.Thereislittleguaranteethatyoursitewilleventuallyzoomuponsearchresultspagerankingsjustbymerelytweakingyourmetadata.However,metadataallowssearchenginebotstoindexyourpagesbetterandenablesyoutocontrolhowyouwantyoursitetobeperceivedbyyourtargetaudience.Beingorganizedandtargetedaretwobigplussesthatwilleventuallydrivetraffictoyoursite.Strategicallyassigningyourtitle,description,andkeywordmetadatawillgiveacompetitiveedgetoyourwebpageswhenitcomestoonlinesearch.2.Optimizetheuseofrelevantkeywords.Intherealmofonlinesearch,keywordsarethevirtuallinkbetweenyourpotentialcustomersandyoursite.Wheneverpossible,userelevantbutuniqueandunsaturatedkeywordsthattargetnichecustomerstohelpyoursiterankhigher.Foroptimumeffect,integratethetargetedkeywordsevenonyoururl'sandyourmetatags.Besurethatthekeywordsyouaretargetingareseamlesslyincorporatedintothenewcontentthatyouarepublishing.3.Integrateablogonyoursite.Blogsarethebestwaytoinfusefresh,relevantandcompellingcontentintoyoursite.Rememberthatsearchengineshaveaprogrammedbiasinfavorofsitesthatareregularlyrefreshedwithnewcontent.Themorepagesbeingpublishedonyoursitemeansgettingmoreattentionfrom


searchengines.4.Usesocialmediatodrivetraffictoyoursite.SocialmediasiteslikeFacebook,Twitter,Digg,YouTube,andLinkedInaregreatchannelsthatcandriveusertraffictoyoursite.Gettingtoknowthenooksandcranniesofsocialmediamarketingcandeliverhugebenefitsevenintheshortterm.


Top5AppsforYourBusiness

||ForFreelancers&Entrepreneurs|MobileAppsareincreasinglybecomingmoresophisticatedandaredevelopedfordifferentpurposes.Amongtheemergentappsforanymobileplatformarethoseusedinbusinessesandotherprofessionalenterprises.Regardlessofthescaleofyourbusinessandthetypeofsmartphoneyouuse,thefollowingmobileappsaresuretoenhanceyourproductivity,efficiency,andbusinessnetwork.1.Skype.Sanstheapps,phonesarebasicallytoolsforcommunicatingwithcustomers,partners,investors,staff,andotherstakeholders,afterall.However,calls‐‐especiallyofthevarietythatcrossesinternationalborders‐‐canbeveryexpensive.Thepopularonlinecommunicationplatform,skypecanbeveryhelpful,indeed.UseSkypeforvideocalling,instantmessages,andchattingforfree.2.DocumentsToGo.Thisappallowsthecreation,editing,storage,andsharingofvariousdocumentsinthemostpopularformatssuchas.doc,.xls,.ppt,andpdf.Perfectforreviewingpresentations,reportsandbusinessplansonthego.3.RemembertheMilk:Thisappisgreatforpeoplewhoneedtoaccomplishmultipletasksonaregularbasis.Inanutshell,RemembertheMilkisanonlineToDoListthatissynchedwithamobilecomputingdevice.4.Evernote.Thisappleveragesthehugepotentialofcloudcomputingbyallowingtheusertouploadjustaboutanyfile:handwrittennotes,textnotes,videofiles,photos,andwebpagestoapersonalaccountoverthecloud.Itthenallowstheusertosyncthedatawithothercomputingdevicessuchasanycriticalinformationuploadedbyasmartphonecanbeaccessedbyasyncedlaptopordesktopcomputer.5.Dropbox.Thisisaveryusefulonlinefilemanagementandsharingapplication


thatusescloudcomputingtoalloweasieraccesstoauthorizedusersandmorestoragespace.Dropboxisperfectforsharingvariousdocumentsandphotostofriends,relatives,colleaguesandbusinesscontacts.Quitealotofmobileappsarenowbeingdevelopedforbusinessesandthesearejustthetipoftheiceberg.Giventhedemonstratedindispensabilityofsmartphonesinconductingpersonalororganizationalbusiness,appstoreswillseetheintroductionofmoreadvancedandspecializedappsthataredesignedtoperformbusinesstasksrangingfromtheverysimpletoverycomplexonesthatformerlyrequirednetworkeddesktopstoaccomplish.


HowtoMakeYourBrandMatterinSocialMedia

||ForFreelancers&Entrepreneurs|Thereareveryfewcompaniesthatcanignorethepowerofsocialmedia.Ifyouwantyourbrandtosucceedintoday'sextremelycompetitivelandscape,thensocialmediaisoneofthemajorarenasyouneedtoexcelin.Thefactis,deployingbrandsinsocialmediahasbecomeanecessityjusttomaintainaconnectionwithanalreadycaptiveaudience.Withoutameaningfulpresenceinsocialmedia,manybrandswouldlosethebenefitsofengaginghundredsofmillionsofexistingandpotentialcustomerswhoregularlylogontotheiraccountsondifferentsocialnetworks.Andthatisnotmerehearsay.Timeandagain,ithasbeenconclusivelydemonstratedthatproperlyexecutedsocialmediacampaignshavemeasurableeffectsonthebottomline.Moreover,comparedwithotherpromotionalmethods,leveragingsocialmediaisalsomoreattractiveintermsofROI.Toeffectivelydeployyourbrandoversocialmedia,youneedtoassessjustwhichchannelsyourbrandisappropriatefor.Thereareatleastthreemainchannelsyoushouldactivelyparticipateinatallcost:Facebook,Twitter,andtheblogosphere.NotonlyisFacebook,thesecondhomeforhundredsofmillionsofpeoplewhogoonlineeveryday,italsohasrobustmechanismsforbrandbuilding.Ignoringthisspaceisvirtuallysuicidespeciallyfornewcompanies.Meantime,Twitterisoneofthebestwaysofleveragingthewidespreaduseofmobilephones.UseTwitterasaplatformforsteeringyouraudiencetowardsdeeperinvolvementwithyourbrand.Lastly,havingablogisthemostaffordablewayofkeepingyourbrandcurrentandfresh.Alignyourblogwiththedynamicsofonlinesearchandintegrateitwithyourprofilesonsocialmedia.Thisway,youhelpestablishaviable,organic,andprofitableonlinepresenceforyourbrand.


HowtoKeepSeasonalBusinessesAfloat

||ForFreelancers&Entrepreneurs|Businesseswhosecoreproductsorservicesareskirentals,Christmastrees,fireworks,orsummervacationhousesforrentareallseasonalbusinesses.Manyventuresthatbelongtothiscategoryhavebeensuccessfulbutothersunfortunatelyfail.Thisisbecausehandlingseasonalbusinessesisradicallydifferentfrommanagingconventionalones.Inordertomakeyourseasonalbusinesssuccessful,besuretoconsiderthefollowingtips:

1. Practicediligenceinmanagingcashflows.Inseasonalbusinesses,profitsarereinedinonlyduringpeakseasonsanddiligentlyspreadingrevenuestocoveroperationalcoststhewholeyearisofparamountimportance.Alwaysappropriateacomfortablebudgetforoff‐seasonoperations.Forseasonalbusinesseswhereinthisissimplynotpossible,maintainingexcellentrelationshipswithbanksandothersourcesofcreditisalsocritical.Doingsowillhelpcoveroperationalexpensesduringtheleanseason.

2. Allowreasonableflexibilityinoperationsduringpeakseasons.Dependingon

consumerbehavior,neverscrimponrenderingextrahourstoachieve(orexceed)targets.Seasonalbusinessesshouldbeagileinordertoconverteveryopportunityintoasale.Otherwise,it'snotreallyagoodtactictohopeforrainduringdryseason.

3. Findwaysofmakingprofitsevenduringtheleanseason.Becreativein

diversifyingyourcorebusinesstogeneratemodestrevenueswhilewaitingforthebigbreak.Leanseasonscanalsobeusedforintensivestrategizingandpreparationsforthepeakseason.Broadenyoursalesnetwork,trainyourstaff,ordevelopnewproductconcepts.Therearemanyproductivethingsthatcanbeaccomplishedthanjustmerelywaitingfortheraintocome.


HowtoReviveanAilingBusiness

||ForFreelancers&Entrepreneurs|Notwithstandingthisarticle'stitle,notallailingbusinessescanberevived.Somearejustsomessedupthatrevivingthemwilljustbeawasteoftimeandeffort.Forthistypeofsituations,closingthemupandstartinganewbusinessonacleanslateisinfinitelybetter.However,allbusinessesencounterleanperiodsaswellascriticalperiodswhereinevensoundlymanagedcompaniesfindthemselvesatriskofbeingdissolved.Forthesecases,therearemethodsthatmightbeabletoreorientailingcompaniestowardsrecoveryandgrowth.Ifyourcompanyfallsintothiscategory,herearesometipsthatmaybeabletoturnyourenterprisearound:Anailingbusinessneedtocontendwithcompanycredit,delinquentreceivables,staffmorale,customerretentionandotherissuesthatrequirecreativestrategiesinordertobeaddressedsatisfactorily.Oneofthefirstthingontherecoveryagendaistoformtherecoveryteam.Therecoveryteammustbeastrongteamofmanagersthatarecommittedtosalvagethemostvaluableassetsofthecompanyandusethemforacalculatedrecoverylateron.Toturnanailingbusinessaround,allstakeholdersmustbewillingtotakeactionsthatcouldreallyhurt.Anassessmentofthesituationisneededinorderfortherightimpetustowardsrecoveryisattained.Inaddition,immediateanddecisiveactionisrequiredtopreventfurtherdeteriorationofthesituation.Thismeansthatmajorproblemsneedtobeaddressedimmediatelywithcarefullydrawnsolutions.Essentially,aturnaroundisasustainedpositivechangeintheperformanceofabusinesstoobtainadesiredresult.Itistheprocessbywhichabusinesswithinadequateperformanceisanalyzedandchangedtoachieveadesiredresult.Inaturnaround,analysisandactionaresimultaneous.Theimmediaterequirementistofindthemajorproblems,analyzethemandimplementsolutions.


TopSocialMediaBlunderstoAvoid

||ForFreelancers&Entrepreneurs|Socialmediaistheallbuzzthesedays.Andrightlyso.Amongallchannelswherecompaniescanpromotetheirbrands,itisonsocialmediawherethepotentialforROIisthehighest.Often,doinggreatinsocialmediaisdoinggreatinthesalesarena.Thatsaid,buildingyourbrandonsocialmediaisgreat.Thereareveryfewbusinessesthatcanreallyaffordtoignoresocialmediaandifyourcompanyisnotoneofthese,thenconductingsocialmediacampaignsearlycandomagicforyourcompany.However,leveragingtheadvantagesofsocialmediacanbackfireifyourcampaignsarehaphazardlyconducted.Remember,justasaviralpromotionalcampaigncanhaveahugepositiveimpact,theothersideofthecoinappliesjustasmuch.Acampaigngonewrongcangenerateaviraleffectthatcanbeterriblydetrimentaltothebrand.Oneoftheworstthingssocialmediamarketerscancommitistostartsomethingonsocialmediawithoutaplan.Doingsoisahangingdisasterwaitingtofallheavilyonthebrand.Notknowingthebasics(thebrand'stargetaudience,thebestteamtomanagesocialmediacampaign,themetricstobeusedwhenassessingcampaignsuccess)canbeverycostlyindeed.Anothercommonsocialmediablunderistoexecuteagoodcampaignatthewrongtime.Tweetingjustaboutanytimeyouwantcanbeverywasteful,forexample.Understandingthebesttimetodelivertweetstoyourtargetaudienceisapricelessmarketinformation.Lastly,inaccuratelyassessingtheresultsofyoursocialmediacampaignswillneverallowyourteamtoappreciatetherealimpactofyourcampaign.Subsequentcampaignsmaythenbeexecutedwithoutthebenefitsofprecisemarket


informationandyourteamwillremainperpetuallyatalossonhowyoursocialeffortsarereallyimpactingyourbusiness.


HowtoQuicklyGainTractionintheSalesFront

||ForFreelancers&Entrepreneurs|Beinggoodinsalesisbothascienceandanartandnotwoguruswillcompletelybeidenticalintheirlistofthebesttacticstohelpyougaintractioninthesalesfront.Salesismorethanjustanumbersgame.It'snotjustmeetingquotas.Attheendoftheday,successfulsalespeopleareconcernedmoreabouthowtheycandelivervaluetotheircustomersthanjustmeetingtargets.Tobesuccessfuloftenrequiresunmatched,sometimesinsanelydoggedpersistence.It'soddbutobstaclesaboundintheworldofsalesandsuccessfulveteranswilltellyouthattheirprofessionaljourneysareanythingbuteasy.Givingupsimplyisnotanoption.Beingpassionateabouttheproductyouaresellingisperhapsthegreatestboostertoyoursalesperformance.Itisalsothefuelthatcandriveyourpersistence.Onceinacompany,makeitadailycommitmenttobereallyintimatewithyourproductsandservicessothatyourpassioncarriesovertothetechniquesandattitudesyouadaptinselling.Allocatingtimetolistentoyourcustomerswillhelpyourteamrealignyourbrandsaccordingtotheneedsofyouraudience.Knowingyourcustomers'languageandtheirgoalswillhelpyouarticulatehowyourproductsandservicessolvetheirproblems.Lastly,establishingyourowngoalsiscriticaltoyoursuccessinsales.Remember,withoutclearlyestablishedgoals,youcanneveraccuratelyassessyourperformance.Settingbenchmarksforsuccessiswillgiveyourteamtheproperorientationtoeffectivelyexecuteyoursalesstrategies.


Best5OnlineLeadGenerationTechniques

||ForFreelancers&Entrepreneurs|Keepingexistingcustomersinterestedwhilegettingnewonestodiscoveranduseyourproductsorservicesisapersistenttargetofallbusinesses.Afterall,customersconstitutethemajorrevenuesourceofmostbusinesses.Themorecustomersyouhave,thehealthieryourbusiness.Thisisthereasonwhyledgenerationisacriticalcomponentofanyenterprise.Simplyput,leadgenerationreferstoamarketingtoolthataimstopromoteconsumerawarenessandinterestaboutaparticularproductorservice.Leadgenerationisconductedforavarietyofpurposessuchasbuildinganemaillistorasubscriberbase.Therearemanywaysofconductingleadgenerationcampaigns,mostofwhichusethemethodologiesandconventionaladvertisingchannels.Therearealsowaysthatleverageemergentsystemsortechnologiessuchasonlinesearch.Thefollowingaresomeofthemostcommonwaysleadsaregenerated.1.Traditionaladvertising.Thisistheumbrellatermencompassingthedisseminationorbroadcastofcommercialadvertisementsovertraditionalchannelssuchastelevision,radio,andprint(broadsheets,tabloids,magazines,andotherperiodicals).2.Onlineleadgenerationtechniques.ThisistheumbrellatermcoveringthedifferentmethodologiesforpromotingbrandsovertheInternet.Byfar,thisisacost‐efficientmethodcomparedtotraditionaladvertisinginthatitcaneasilybetargetedtospecificconsumerdemographicsanditcanalsobesubjectedtoveryprecisemetrics.Thebestonlineleadgenerationtechniquesinclude1)payperclick(PPC)advertisingthatcanbeimplementedthroughtherobustadenginesofGoogleorYahoo/MSN;2)Socialmediamarketingthatcanbeconductedoverpopularsocialnetworksand


toolssuchasFacebook,Twitter,LinkedInandYouTube;3)SocialmediaadvertisingwhichisnowpossiblethroughservicesofferedbyFacebookandothersocialmediasites;4)onlineadvertising(mediaacquisitions)onselectedsites;and,5)searchengineoptimization(SEO)thataimstoraisetherankingofparticlewebsitesinsearchengineresultspages(SERPs).


MakeOnlineEducationWorkforYou

||ForFreelancers&Entrepreneurs|Followingadvancesinrelevanttechnologyanditsgrowingwidespreadpopularity,theglobale‐learningindustryisnearingtheUSD48billionbenchmarkbasedonconservativeapproximations.ContributingsubstantiallytoitsgrowtharethedramaticdevelopmentsinInternettechnologiesandmultimediaplatforms.Formalonlineeducation,anintegralcomponentofe‐Learninghassimilarlyexperiencedsteepgrowth,withseveralmillionsofstudentsenrolledinonlinecoursesintheUSalone.A2011surveyconductedbytheSloanConsortiumrevealsthatmorethan30percentofAmericanstudentsarealreadyenrolledinatleastoneonlinecourse.Basedonthesimilarreportsfromotherindependentobservers,onlineeducationisslatedtobecomethemostdominantformofpost‐secondaryeducationintheUS.Ifyouareanentrepreneur,student,orsomebodywhointendstolearnmoreaboutasubjectorobtainrelevantcertificationsforthefieldyouareengagedin,goingforonlineeducationisaveryattractiveoption.Itsflexiblearrangementscanbecomeverycriticalespeciallywhenyouareengagedinbusiness,work,orotherstudiesthattakeafairamountofyourschedule.Buthowdoyoumakeonlineeducationworkforyou?Thefirstandmostimportantstepistoseekoutthemostappropriateonlineprogramandinstitutionforyourneeds.Assesscostsandtimeissuescarefullyinordertooptimizetheexperience.Therearecoursesandprogramsforjustaboutanysubjectorcareertrainingthatarealsoofferedintraditionaluniversities.Secondly,Youneedtoestablishtheminimumamountoftimeyoucanregularlyallocatefortheprogramandpracticedisciplineanddiligenceinmeetingyourtargets.Thereisalwaysasweetspotbetweenonlinelearningandotheraspectsof


yourlifesuchaswork,recreationandfamily.Lastly,participateinrelevantforumstogetandprovidesolutionstocommononlineeducationissues.Onlineeducationisaboontomanypeoplewhodesireaconvenientandaccessiblewayofupgradingtheirskillsforthejobmarketorfortheirownentrepreneurialventures.Thekeyistodeterminewhichonlineeducationpackageisthemostappropriateforyourneeds,budget,lifestyleandtime.


HowtoMakeFinancialForecastsforYourBusiness

||ForFreelancers&Entrepreneurs|Businessesneedtomakefinancialforecastsinordertobeontherighttracktosuccess.Otherwise,conductingabusinesswithoutreasonablydrawnfinancialforecastsislikenavigatinganunknownterrainwithoutamap.Intheparlanceofthefinancesector,forecastsarecalledProFormaFinancialStatements.ProFormaFinancialStatementsrepresentthebusinessowner'sfinancialplan.Particularly,aProFormaFinancialIncomestatementisadocumentrelatingprojectedexpensesandincomeforagivenfutureperiod.Ithelpsbusinessowners,businessanalysts,creditors,andinvestorsassesstheprofitabilityofaparticularbusiness.ToprepareacarefullyandreasonablydrawnProFormaIncomeStatement,youshouldestablishthesalesprojectionforyourbusiness,imputeallproduction,salesandotherexpenses,anddetermineprofitmargins.Forbothexpensesandsales,alignyourprojectionsbyansweringkeyquestionssuchashowmuchrevenuecanberealisticallygeneratednextyearandhowmuchitwillcosttoproducetheproductorservice.Taxes,salaries,andbankborrowingsshouldalsobeconsidered.Theeasiestwaytogoaboutitwithouttheconstanthelpofacertifiedpublicaccountantistosimplycreateabudgetandsalesforecast.Abudgetforecastisalistofcostsrelatedtoitemsandresourcesthatyouneedinordertokeepyourbusinessoperatingnormally.Ifyouhavebeenoperatingabusinessforawhile,thatshouldbeeasytoaccomplish.Justreviewyourpreviousrecordsanddeterminewhichitemsutilizedyouroperationalfunds.Ontheotherhand,forecastingsalesisabitmorecomplicated.Tobesafe,preparetwosetsofsalesforecasts‐‐oneextremelyconservativeandanotherportrayingarobustmarketscenario.Oneisnecessarytokeepyougroundedinrealityandthe


otherforfuellingyourpathtowardsphenomenalsuccess.Doingbothisahealthypracticethatcanleadtoactualgrowth.Toconclude,everybusinessofanyscaleneedstoestablishreasonablefinancialforecastsasameansofassessingitsperformanceinthemarket.Notdoingsoislikeembarkingonavoyagewithoutacompass.


4WinningImprovementsforYourCollectionsDepartment

||ForFreelancers&Entrepreneurs|Cashflowistheoneaspectofabusinessthatkeepsitinoperation.Itisanindicatorofcustomeracceptanceaswellasthebusiness'potentialforgrowth.Formostbusinesses,cashflowisafunctionofbillingandcollection.Themoreefficientcollectionsis,themorecashisbeinginfusedintothebusinesstofuelitsoperationsandhelpbuildtheinfrastructureforgrowth.Ifacompany'scollectionsdepartmentissomehowhandicapped,everythingelsesuffers.Infact,aninefficientcollectionssystemisasurewayofgnawingatcompanyrevenuesthatcancausethecompanytoplummetirretrievablyinthelongrun.BasedondatagarneredbytheUSSmallBusinessesAdministration,around70percentto80percentofsmallbusinessescloseeachyear,withcashflowissuesasoneofthemostcitedreasonsforclosure.Tokeepabusinessafloatandcompetitive,amplecashinflowmustbeensured.Ifyoumanageorownabusiness,herearefourwaysofimprovingyourcollectionspractices.1.Establishaviablecreditandriskmanagementpolicythatshouldbestrictlyappliedtoallyourcustomers.Identifyandmanagepotentiallydelinquentaccountstoreducerisksofdefaults.2.Usecreativewaysofcollectingreceivablesovertheshorttermandlongtermscenarios.Befamiliarwithlegalwaysofrecoveringbaddebts.3.Implementclearandconcisebillingforms.Thiswillhelpcustomerseasilyunderstandhowmuchtheyoweandthevaluetheyhavereceived.Questionablebillingitemsoftenleadtoresentmentandclarifications,anddelaysinpayment.Sendaninvoiceimmediatelyeachtimeajobhasbeenfinished.4.Becordial‐‐cheerful,ifpossible‐‐andverypersistent.Mostpeoplebecome


impatientandirritablewhenbilledandkeepingapositive,cordialdemeanormakescustomersmoresusceptibletosettletheirbillspromptly.Followingthesefundamentalcashflowtipscanhelpyousteeryourbusinessclearofthecommonfinancialpitfallsmanystartupsexperience.Remember,youdelivervaluetoyourcustomersforwhichyoudeserveanappropriateincrementinyourcollectibles.However,actuallyreininginrevenuesishardlyautomatic.That'swhatadiligentlymanagedcollectionssystemisfor.


GivingYourOnlineStoreanAttractiveMakeover

Makingyouronlinestoreattractiveiscriticaltoyourbusiness'success.Rememberthatallthingsbeingequal,thethingthatisprettiesttolookatandeasiesttousewillcertainlywinintheend.ThatisSteveJobs'legacyasreflectedinthevariousAppleproductsthatgarnerednotonlycommercialsuccessbutalsocriticalacclaimfortheiruser‐friendlyinterfacesandelegantaesthetics.Thehardfactis,unlessyouronlinestoreisattractiveandeasytonavigate,visitorswon'tlinger,muchlessmakeonlinepurchasesorsignsubscriptions.Evenifyouhaveshelledoutquiteaninvestmentforsearchengineoptimizationandyourstoreranksprettyhighonsearchresults,peopletendtostayonpagesthathaveanattractivevisualappealevenwhenthosepagesrankedlowerthanyours.Itwillbesuchawasteifyouhavemanagedtodrawinsiteinsitevisitorsonlytohavethemleaveshortlyaftertheyseewhatyoursiteoffers.Ontheotherhand,makingagoodimpressiononvisitorsearlyontendstoconvertmanyofthemtobecomepayingcustomers.Remembertohirethebestonlinestoredesignteamyourbudgetallows.Establisheasynavigationasthetoppriorityinyourstoredesign.Youronlinestoreshouldalsobedesignedinawaythatsignificantlyreduceswaitingtimebeforepagesarecompletelydownloaded.Implementingthefastestpagedownloadspossiblewithoutcompromisingaestheticsisthesweetestspot.Optimizeyourgraphicsandmultimediatoallowforfasterdownloads.Avoidimplementingtoomanypop‐upssincethesecanbequiteannoying.Usethebestcolorschemeonyourstorethatclearlyreflectsyourbranding.Thiswillmakethingsconsistentandwillhelpcustomersrememberyourproductsbetter.


HowDoICloseMyFirstSale?

||ForFreelancers&Entrepreneurs|Closingyourfirstsale,whetherasasalesprofessionalorforaparticularfirmorproduct,isalwaysamomentousevent.Asidefromthebiggestsaleclosed,thefistsale‐‐regardlessofitsscale‐‐isalmostalwaysamemorablemilestoneforallpeopleengagedintheartofselling.Therearewidelyrecommendedstepsthateveryone‐‐includingsalesgreenhornsandveterans‐‐shouldfollowtomakeyourfirstsalegosmoothly,allowingyoutomoveforwardwithmoreconfidenceandefficiency.Herearesomestuffthatyouneedtoconsiderwhenembarkingonasalesmeetingforthefirsttimeinyourcareerorforaparticularcompany.

1. Knoweveryrelevantthingabouttheorganizationyourepresent.Thiswilldowondersforyouaswellasyourcustomers.Ononehand,itaffirmsyouraffinitywiththeorganization.Ontheother,itwillmakecustomersperceiveyouasatrueprofessionalwhostronglybelievesintheproductsandservicesheorsheisselling.

2. Preparewell.Nothingimpressesfavorablyoncustomersmorethansmoothtransitionsfrompleasantconversationtopresentationandfeedback.Knowtheproductwellandbeanexpertinallitsfeatures.Anticipatequestionsandbereadytoaddressunexpectedqueries.

3. Bepresentable.Makeyourorganizationproudofhavingyourepresentthemtotheirclientele.Makeyourclientsdevelopahealthyrespectforprofessionalism.


4. Empathizewithandlistentowhatyourcustomershavetosay.Considertheirfeedbackandcriticismsasopportunitiestoreallyshowcasingtheuniquevalueyourproductorservicehastooffer.

5. Closecordiallyandcheerfullybyopeningallchannelsofcommunication,regardlessofwhetherthecustomerisbuyingtheproduct,indicatedinterestaboutit,isunsureatthemoment,orhasindicateddissatisfaction.


HowtoInspireStafftoPerformBetter

Freelancers&||ForEntrepreneurs|Anymanagerworthhercapwilltellyouthatnothingelevatesacompanymorethancompetentandproperlymotivatedstaff.Greatproductsandground‐breakinginnovationsareoftenproductsofafewmotivatedindividuals.Meantime,goodproductsthatarerepresentedbyinspiredsalesteamsarecertaintodominatethemarket.Ontheotherhand,evenaningeniousideaorapotentiallyprofitablebusinesswillregularlyencounterstumblingblockswhenthepeoplethatmakeitrunareuninspiredorhaveverylowmotivationtosucceed.Seniorexecutivesareawarethatstaffmotivationenhancesindividualandteamperformanceandmakestheworkenvironmenthighlyconducivetosuccess.Butnotallmanagersfiniteasytomotivatetheirteams.Herearesomesure‐firetechniquesthatwillhelpyouinspireyourstaff.

1. Givethematangiblemodeltoemulate.Bysettingagoodexampleyourself,employeeswillhaveaworkpatterntocopy.Whenmanagerscometoworkontime,communicateandcollaborateintensively,respecttheirpeersandstaff,anddeliverexceptionaloutputs,staffwillhavenochoicebutperforminthesameway.

2. Sharethecompany'ssuccesses.Nothingmakesemployeesfeeltheybelongtothecompanymorethansharingtherewardsitreceives.Profitsharing,bonuses,andperkscanbeexcellentmotivatingfactorswhenimplementedsmartly.Bewary,however,ofusingmonetaryrewardsasyourmainmotivatingfactor.

3. Neverclampdissent.Allowemployeestosafelyaircomplaintandfeedbackandencouragediscussionstoformulaterelevantandeffectivesolutions.


4. Integratefunandhappinessinyourcorporateculture.Happyemployeesareeasytomotivateandcreatingafunworkenvironmentusuallyresultstosurprisinglyexceptionaloutcomes.


TacticsforMarketingServicesOverseas

||ForFreelancers&Entrepreneurs|Whetheryourbusinessisperformingaswellasyouintendatthehomefrontornot,marketingyourproductsorservicesinothercountriesmaybealucrativeproposition.Theglobalmarketcanbecomplicatedbutitoffershome‐growncompaniesalotofopportunitiesforgrowth.However,beforeembarkingonopeningyourdoorsforservicingdemandoverseas,itisimportanttodeterminewhichforeignmarketsarethebestfitforyourproductsandservices.Youshouldalsoobjectivelyassesshowpreparedyourcompanyisindealingwithoverseasoperation.Haveyoustartedbuildingrelationshipswithyourpartnersoverseas?Howcommittedaretheyinorchestratingasuccessfulentryforyourbrand?Anothercriticalstepistoassesstheadaptabilityoftheproductorserviceitself.Willlocalconsumersreadilyidentifywithyourbrand?Doyouneedsomeproductrealignmentstocatertolocalconsumerpreferences?Whichlocalbrandswillyoubecompetingwithandhowwillyourteambuildproductdifferentiationanduniquevalue?Yourlocalsupportgroupisalsoanimportantcomponentofyouroverseasventure.Haveyouformedateamwiththerightpeopleonthejob?Assesshowmuchfundsyouneedtoallocatefortheexpansionandwhetherthecostswon'tcompromiseyouroperationsathome.Doyoujustoperateanonlinestorethatalsocaterstoforeignconsumers?Ordoyouneedworkingwithlocaldealersordistributorstobringyourproductstolocalcustomers?Onceyouhaveadequatelyaddressedthesequestions,youcanhaveyourteamdrawupastrategicentryplantotheforeignmarketsyouwanttoparticipatein.


remembertoconsiderthelocalcultureandlanguageinadditiontothemarketconditions.Somesymbols,messages,andotherbrandingparaphernaliamaybeoffensivetolocaltastesandtheseshouldbere‐packagedappropriately.


HowtoHandleOfficeWhiners

||ForFreelancers&Entrepreneurs|Discontentoccursnaturallywhereverpeopleconverge.Insportsstadiums,inclassrooms,inshoppingmalls,andeveninchurches.Withtheintensedynamicsofaworkplace,itisnotsurprisingthatmanagement,staff,andjustaboutanybodyatworkwillcomplainfromtimetotime.Regardlessofwhethertheircomplaintshavesolidlyreasonablebasis,itisinpeople'snaturetoobserveandtogivefeedbacksbasedonourobservations.Thatsaid,itisnotabadthingtocomplain.Complaintscanrangefromminordiscomforttooutrightrageandlettingouremotionsgetthebestofuswillcauseveryunfortunatecircumstances.Sometimes,beinguncomfortableorinconvenientanddoingsomethingpositiveaboutitdrivestheprocesswenowcallas"innovation".Afterall,ifeveryoneiscomplacentorcontent,nothingnewwillcomeabout.However,notallcomplaintsareofthepositivekindandtherearepeoplewhowhineallthetime.Thesepeoplesapotherpeople'senergies,creatediscomfort,disruptproductivity,andcanironicallymaketheplaceworthyofbeingwhinedaboutiflefttotheirowndevices.Insteadofbeingproductiveandpositive,thesepeoplewastetheirtimepoisoningotherpeople'sminds.Thesearethepeoplethatneedtobecontrolledintelligently.Todothat,managersandcolleaguesshouldestablishanofficialsystemforfilingcomplaintssothatlegitimateonesareaddressedaspromptly,professionallyandeffectivelyaspossible.Listentoallcomplaintseventhoseraisedbywhinersandcreatesolutionsforvalidones.Encouragewhinerstocreatethesolutionsthemselvestoinstillahabitofactingpositivelywhenanegativesituationarises.Inaddition,makeeveryonebusyathisorherworkordoingsomethinggoodforthe


company.Whinersneedidleearsandifeveryoneisbusyworkingonaparticularlyrewardinggoal,whinerswon'thaveanyonetotalktoandspreadtheirnegativity.


TheTopHome‐BasedBusinessesfor2012

||ForFreelancers&Entrepreneurs|Homebusinessesaresproutingeverywhereasmorepeoplearetakingthestrangeanddauntingrouteofentrepreneurship.Withtherecessionandsubsequentlayoffs,startingahomebusinessisstartingtolookveryattractivetoalotofpeople.Ifyouintendtostartyourhome‐basedbusiness,rememberthatnoteveryoneiswellsuitedforitandthatmosthomebusinessescloseupwithinthefirstyearofoperation.Managingyourexpectationswillbecriticalforthelongtermhealthofyourbusiness.Recognizethathome‐basedbusinessesfollowthesamebasicprinciplesandcyclesoftraditionalbusinesses.TargetingunreasonableROIintheshorttermwillonlysapyourenergyandbreedresentment.Extremelyfewpeopleandventuresbecomeovernightsuccessesafterall.Thesecretistomakeadequatepreparationsandacquireallthenecessaryskills,trainingandmarketknowledgetosucceedinthebusinessyouwillbeestablishing.Mostimportantly,neverdampentheenthusiasmandpassionthatdroveyoutoentrepreneurshipinthefirstplace.Whilemanyhome‐basedbusinessesfallalongtheway,othersthriveandbecomephenomenalsuccessessuchthatthenumberandoutputofhome‐basedbusinessesareexpectedtosignificantlyincreasein2012.Accordingtoanalysts,mostofthebestperforminghome‐basedbusinessesin2011haveanassociatedblogorwebsiteanditiscriticaltoestablishoneforyourbusiness.For2012,home‐basedbusinessesthatareexpectedtoexperienceajumpinconsumerdemandincludehomerenovationservices,cateringservices,weddingconsultancies,cleaningservices,eCommerce,homebeautyservices,pet‐basedservices,andbusinesscoachingservices.