Opening a Small Business – Top 7 Steps to Success

Opening a Small Business – Top 7 Steps to Success[EXTRACT]
Opening a small business is both challenging and rewarding (if you do it right). It takes a lot of planning, organizing and drive. There is no guarantee for business success but certain things you do will increase your opportunity for success.To-Do List for Opening a Small Business:1. How do you want to structure your business? Do you want to set up as a sole proprietorship, or in a partnership or do you want to incorporate your company and limit your liability? These are questions you need to answer before you startup your business. Talk to your local government small business agency; they can help you investigate what option best fits you and your business. Before you make your decision, ask for legal advice and tax advice; talk to a business lawyer and a tax accountant.2. Once you’ve decided what your business structure will be, you will need to create a business plan. First, develop a business plan outline that includes the areas of a plan that are specific to your business or your industry. For example, if you are planning to go into manufacturing you will need to build an operations plan, a new product development plan, your human resources plan (including a workforce plan) and safety checklist plan; include your capital expenditures budget. The objective is to focus your plan on the manufacturing aspects that are unique to your business. Other businesses with an inventory focus, or retail focus, or services focus will need to adapt the plan to be specific to their needs. All businesses will need to include your long term mission and vision statements, your business goals and objectives, a marketing plan, sales plan, business financials plan, exit plan, business continuity plan and the business strategies necessary to be successful.3. The next step is to do a financial analysis of your business idea and business plan. Can you make a profit (and once you’ve earned a profit, can you maximize your profit) in your business? How long will it take to make a profit? Can you fund your business growth and survive until you make a profit? What are your cash flow needs and projections? Will cash flow management be a struggle? Can you finance the business and survive?

Your objective in conducting a business financial analysis for opening a small business is to be realistic. Do not under-estimate your costs and over-estimate your sales. Develop a list of expected startup costs. For example, startup costs might include your legal and accounting costs to set up your business; a business license fee, furniture, computer hardware and software, property insurance; trade-marking your product (if applicable); inventory and/or materials; and more.
Once you’ve identified your startup costs, develop a list of your other expenses (from daily expenses to annual expenses). For example, business space rent, your monthly utilities (such as heat, phone, etc.), membership in trade associations, office supplies, contract employees, wages and benefits (including yours if you expect to take a salary out of the business). For simplicity, put all the data into a spreadsheet and verify that you haven’t forgotten anything (check out online examples income statements – they show expenses and revenue).
The next step in your financial analysis is to do a sales forecast for the same period as the expenses (usually banks or other lenders want to see a three year plan in annual increments and a monthly cash flow plan for the three years). Make sure to include the assumptions you are using in your sales plan and in your financial plan (for example, interest rates, dollar exchange rates, gross domestic product rates, political environment, and more).
Put together a worst case scenario (expenses high, sales low); a best case scenario (expenses low, sales high) and an average case scenario (expenses and sales on target). Test the sensitivity of your projections. What would happen to your financials if you didn’t ‘win’ a large account? What would happen to your financials if your key supplier increased the cost of materials by 12%? Make sure you have a plan to address those issues.
Try to find industry information that will support your financial plans and include them in the financial section. For example, talk to your industry’s association and see if they can provide average data for financial ratios, revenues, costs, salaries, benefits, etc. within your industry. Compare that data to your financial plan and see if you are ‘in range’; if you are not, you will need a good explanation for the variance.
Run your financials: total your expenses (outgoing) and your sales revenues (incoming). According to your financials, will you lose money or make it? If you are losing money in your plan, how much are you losing? And how much cash do you need to survive before your plan starts showing a profit? Be realistic.

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4. Now consider where you are going to get your startup financing from. Are you independently wealthy? Have you won a lottery? No? Then you need to borrow money or find a way to get some cash to startup. Traditional methods of financing a startup business are bank business loans, government loan programs, borrowing from family and friends, selling a share of the business to a partner who will invest in the business, and re-mortgaging your home. Less traditional methods (also known as bootstrapping), are using personal credit cards, selling assets, such as your car, furniture, your house; continuing on in your day job or taking a second job for additional income. If you believe in the business you want to start, you will find a way. Choose the lowest risk, the best value and the lowest cost financing for your business startup. But be realistic; it can be very difficult to do this. If your business cannot succeed or if you over-inflate sales and under-forecast expenses, you will go out of business and likely owe a lot of money to a lot of people.

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5. If the decision is to proceed with your plan for opening a small business, and you obtain the necessary financing, then you must now focus on your product or service plan. Define your service or product. What differentiates it from other services or products? Where is the product or service in its life-cycle; in the introductory, growth, mature or declining phase? How will you position your product or service in the market? Develop your service or product plan and then define your marketing mix for your service or product. Focus on the features and benefits of the product or service. Develop your pricing strategy. Develop a strong promotional program. Define how you will get your product or service to the market (ensure that if your product is inventory-based, that you have enough inventory before starting up).6. Ensure that you plan your workforce needs and hire the employees needed to open your new business and consider the advantages of outsourcing, particularly in the early days of startup when you might not need full time employees.7. Finally, open your new business and launch your product or service. Use your promotional program to support the launch. Measure your results continually. Talk to customers and potential customers. What do they like or dislike about doing business with you? Is the product or service meeting their needs? If not, why not? Do this research even if the products are flying off the shelves, you want to know what customers are thinking at all times; the good and the bad.

Are You Too Busy Talking to Hear God Speak to You?

Are You Too Busy Talking to Hear God Speak to You?[EXTRACT]
Religions teach people to yap on with prayers written by others as statements of faith and so forth. Some recite them over and over without any thought about who is actually listening or what harm they are doing. People who congregate in churches, temples, and mosques with the idea of performing actions and praying the same words are caught in a whirlwind of deceit and dreams passed down from ancestral dreamers.The question is how many can hear God when they are so busy satisfying the command to be part of the audience of a preacher. As a spiritual person it leaves me cold when witnessing people who put themselves in this position.

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My reincarnation shows that heaven and hell are myths and that religions that stand on them as pillars of their faith are constructed from dreams. At the age shown to me between lives the Spirit commissioned me to remove the blindness created by such ignorance and bring in the harvest. We are in the last days and things will happen quickly to change the earth forever.As part of the promise for this time the Spirit is back and it is pouring over the children of Israel. They are the ones who were in receipt of the Spirit at the start of the day of the lord, some 4,000 years ago. They had to stay loyal to the power despite the pain and torture dished out to them by religious forces who punished them for not worshiping the false gods of religion and praying their prayers.

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Now everyone is back who has lived and those who are linked are experiencing the outpouring of the Spirit and healing miracles as part of it. The Internet is the greatest miracle of the age and it is the Mountain of God (Micah 4:1) that allows the real God to spread the truth throughout the world. It is talking to everyone, but who is listening. Only those who remain quiet and let the power speak to them will hear it.

3 Reasons Why Your MLM Business Needs a Turn-Key Attraction Marketing System

3 Reasons Why Your MLM Business Needs a Turn-Key Attraction Marketing System[EXTRACT]
I don’t know about you, but I don’t want to wake up in the morning and think about how I’m going to market my direct sales business that day.And if you’re anything like the network marketers I know, you’re familiar with marketing tactics like:
door-knob hangers
flyers on car windshields
leaving flyers in conspicuous public placesTo me, these methods are hit-and-miss and unprofessional.I don’t want to be known as the person who leaves flyers on someone’s car windshield. That’s just not me. Some folks are perfectly okay with that strategy. This article is for those of you who aren’t, and who would like to step up to a method of marketing that brands you as the consummate professional, the expert.That’s what a tailored, turn-key, automated marketing system can do for you.And here’s a bold statement: Don’t start another network marketing business until you have a marketing system. It doesn’t matter how good your business is (you could be offering gold itself) you won’t get very far without a comprehensive, well-thought-out and well executed marketing system.

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Why?Reason #1: Because recruiting friends and family doesn’t work long term and will not sustain large growth in a network marketing business. It may get you started, but soon you’re going to run out of people to talk to. And, if you’ve recruited friends and family before (in another business), they might not want to hear from you again.Besides, the major reason you don’t want to go after friends and family is because they aren’t targeted prospects. Who knows if they’re looking for a business or not, and who knows if they’re looking for your business?Don’t poison relationships with your efforts to aggressively recruit. The best way to recruit friends and family is by creating such success that they come to you and ask what you’re doing.A turn-key, automated marketing system that works around the clock, even when you’re sleeping (especially one that’s set up on the good old internet) could expose your business to millions–sending you a steady stream of qualified people to talk to–and keeps you away from peddling friends and family.Reason #2: You don’t want to spend your precious time cold-calling prospects, trying to convince them to buy something from you. A well-thought-out, turn-key marketing system will do the work for you by attracting prospects who are a match for you and your business.I’m guessing that you want to spend your time talking to people who want to talk to you.The way my present business is set up, prospective business partners often call me. Another prospective business partner just called me a couple of days ago, with credit card in hand, ready to get started. I made the sale and 4 figures in commissions.All because of the turn-key, automated marketing system I use. Your business life can be very sweet when you know how to work things to your advantage.Reason #3: Weed out the people you don’t want to talk to. Let’s face it, the majority of people your marketing will draw will not join your business. You don’t need the world to join you anyway, just a few key leaders who will take no prisoners.The turn-key marketing system I utilize not only attracts the people who are looking for me , but also exposes them to who I am and what I do , and gives them key introductory info about my business . By the time we talk, they already have a good idea of who I am, what I do, and how I can help them reach their goals.

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As I mentioned earlier, prospects often pick up the phone and call me.That’s what you want to create; because when a prospect calls you, they’re probably serious.Just as important as attracting prospects to you, your well-thought-out, turn-key marketing system will sift your prospects, weeding out all the people you don’t want to talk to.I won’t waste time talking to people I have no business talking with. My marketing system sifts and sorts for me.In this day of internet marketing, there’s absolutely no reason to put doorknob hangers on stranger’s doors or plaster the parking lot with flyers.Step up your results by creating a turn-key, automated marketing system that attracts qualified prospects to your network marketing business, the people you want to work with, making your business life easier and a whole lot more profitable.Happy recruiting!

Business Talk Show Host – The World Is Your Audience!

Business Talk Show Host – The World Is Your Audience![EXTRACT]
The advent of the Internet and the subsequent proliferation of Internet technologies have opened up many new career opportunities. Let’s take a typical scenario. You’ve always been praised by your friends for your business acumen. More precisely, you’ve always found yourself to have a keen interest in, and a good understanding of, business matters. You also possess good verbal skills and can easily initiate an engaging conversation with others. And finally, you’ve always been excited by the prospect of hosting your very own business talk show on television or radio where you would be the business talk show host at the helm of affairs.Unfortunately, the television or the radio has always remained out of your reach. There’s just too much competition to get a break in those media. So, are your dreams of becoming a business talk show host about to get crushed forever? Don’t despair; the Internet is your savior. It’s time to turn your attention towards becoming an Internet business talk show host.

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An Internet business talk show host? That sure sounds strange! Well, it’s not entirely unnatural to feel a bit confused about this new designation. It is, after all, a relatively new thing. So, let’s start at the beginning to better understand the term.At the center of it all is the phenomenon called Internet Talk Radio. Now, anyone who has been around cyberspace for a while will agree that Internet radios or e-radios are not a very new concept. They have been around for quite some time now. However, it is only with the recent proliferation and improvement of Internet technologies that they can be called to have come of age. Internet radio today offers more choices, better sound, faster streaming and more stability.Internet Talk Radio has evolved from Internet Radio. Its rise in popularity can be attributed to the fact it provides the serious listener, looking for something more than just music and commercials, with engaging content and stimulating programs. Internet Talk Radio networks today feature talk shows on a wide range of subjects ranging from international news, religion, lifestyle, sports, business, women’s issues, health, entertainment. There’s always something for everybody on Internet Talk Radio.Herein lies the golden opportunity to become an Internet talk radio host. If business is your area of interest, just jump on to the bandwagon and become an Internet business talk radio host on your very own business talk show. In fact, it has never been easier to host your own Internet Talk Radio Show and be an integral part of the phenomenon. Many Internet Radio Networks provide excellent opportunities for becoming Internet Talk radio hosts. They are not only providing the technology to host the show but also giving the support, marketing and interactive solutions that help you to make your mark among the ever increasing Internet audience.

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If the prospects of becoming an Internet Business Talk Show host interest you, be sure to check out outstanding services like wsRadio and Voice America. If you want to discuss business and share your ideas with the world; if you want to voice out your opinions on business matters and engage like-minded people in animated discussions on your favorite subject, don the robe of an Internet business talk show host It’s easier to give shape to your dreams than ever, thanks to the Internet.

Teleseminars – A Great Marketing Tool for All Businesses – Talk Your Way to Success

Teleseminars – A Great Marketing Tool for All Businesses – Talk Your Way to Success[EXTRACT]
You often see speakers, coaches, authors, and other business owners offering free teleseminars. Now, we’ve always been taught to not give our time away for FREE, so is this a good idea or not? Fortunately, this is different and is actually a highly recommended marketing tool. Offering free teleseminars to highlight your expertise can lead to more business success. We’ll show you why here.Perhaps the best (and the real money maker) reason to offer these teleseminars is to promote a paid event. (Bingo, that’s what you wanted to hear!) It’s a perfect way to share your expertise to your audience and show them why they should sign up for your upcoming paid event. Additional benefits include adding to your marketing list and the potential to find new clients who will listen to your talk and know that you have what they are looking for.But for a teleseminar to be successful you need to do it right. Here are some great tips to help you get there:
Don’t bore the audience. Keep it fun and engaging while offering solid, relevant content. No one wants to attend a teleseminar where the entire time is spent promoting your event and not giving any useful tips or information.
Think about your audience. What would interest them most? Make sure to talk to them on those topics.
Keep in mind people are busy, so keep your teleseminar within a reasonable time limit. Thirty minutes to an hour is plenty. Those five-hour teleseminars just put people to sleep. It’s hard to engage your audience for that long.
Focus around HOT topics. Nothing can get more people to your teleseminars than to have one on a topic that is HOT HOT HOT. (Think how often Facebook changes the rules; that alone is a year’s worth of material.)
Provide your top 5 to 10 secrets. People love to hear your secrets, your best stuff, what makes you a success, what they don’t know and you do. Be sure to include those in your talk.
Provide content for all levels. You might have some who are new and know little, some who know enough to be dangerous, but need more detailed information on specific topics, and then some whose knowledge is more advanced and they just want some top tips. Be mindful of that and touch on content that will help those at all levels. Now, you can have additional teleseminars focusing more on each level, but keep this in mind for your initial talk.
Do promote your product or upcoming event. You can mention it throughout the talk and at the end provide more detail, but make sure you don’t oversell. Your audience will be interested in what you have after they hear your expertise, but if you push too hard, they will be turned off and lose their trust.

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But wait, you aren’t done yet. It’s important after your call to send out an email with the recording and additional information. This is best done the same day while it is still fresh on everyone’s mind. In that email, you should include a nice note about how you enjoyed the teleseminar and thanking those who attended. Then share your promotion outlining clearly how they can purchase it. (Double and triple-check the link to the sales page. You don’t want your hard work to go unrewarded because you don’t have the right information.) And finally, give them a special to the event you described, and make it worthwhile for them, not just $2.00 off. You want them to feel good about attending your event so they will want to attend the next one you host, as well.

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See how easy it is to do. Go ahead, start planning a teleseminar series now. Also, remember if you need help developing a series, look for an online support specialist to assist. They can be instrumental in getting it done.