Will You Add? - Business

Telemarketing Services
Telemarketing has emerged as a popular and effective marketing tool. More and more companies are adopting this method owing to the quicker responses received. Companies often outsource their telemarketing services to third party telemarketing firms. The outsourcing enables the companies to concentrate on their core activities, while the telemarketing firms handle the telemarketing services. One of the advantages of utilizing the services of professional telemarketing firms is their expertise in handling a wide range of customers. Outsourcing telemarketing services generally proves to be a wise business decision.Telemarketing can be broadly classified into inbound telemarketing and outbound telemarketing. A standard firm offering telemarketing serv

petitors in the marketplace! This suddenly changed the marketing landscape and it also changed my target markets access to good resources.

I'm not saying you need to change who you target but maybe you do. Sometimes you can sell a great product but to the wrong target market. To begin the process, start with a simple survey to your current client and prospect database. It may reveal more than you bargained for.

3. Streamline and Focus Your Efforts

I suffered from work overload my first 3 years in business. I'm sure you can relate. As entrepreneurs, we get

Fries, Demise and Goodbyes
Back in the 1990's when I enjoyed my breaks in San Francisco, I ate at Sue's Terminal Foods. The restaurant was located inside a bus terminal and therefore the basis for its name. I remember the U-shaped counter, the greasy aroma and the colorful derelicts roaming around the depot. It was fast, filling and cheap.And everyone liked Sue. She was a social butterfly who created a friendly atmosphere. She'd make an attempt to greet and meet with everyone sitting at her counter. And she was generous with the portions. She spoiled us. I was hooked. I became one of her many regulars.Then Sue sold her restaurant...That was the beginning of the end. The business went south. It was never the same.Susie (one of the cooks) bought the restau

5 Easy Ways to Boost Business Profitability

I hear it almost everyday, "Sherese, can you help me come up with some great ideas to make more money?" Making more money is wonderful, but what about making a profit? Maybe this is what entrepreneurs are really thinking but the word profit is not used very often so I'm not convinced. It's time to change your mindset from making money to making profits! Listed below are some quick ways to boost your profitability which will definitely lead to more money.

1. Set the Right Price

I know a lot of entrepreneurs out there who are undercutting their prices significantly in order to close deals or get clients. This is a mistake if you're not selling at the right price. Let me give you an example of a basic calculation: Company A sells Service B at a retail cost of $130 per hour. The cost of services performed (the raw cost) is $60 per hour. Company A adds 30% on top of that cost which gives them raw cost + 30% cushion profit at $78 per hour (they round this number to $80). The company decides they will sell at a 50% profit margin for this service through the end of the year to achieve their revenue goals. Now, in order to maintain their profit margin of 50% based on selling at least 10 of these services a year, they mark their raw cost + cushion up by 50% . This gives them a retail cost (client cost) of $120 per hour.

So what does this mean? In a negotiation situation the company has about $40 wiggle room. Meaning, their raw + cushion cost is $80/hr and their retail cost is $120 per hour; therefore if they need to offer a deal to get the contract they will never fall below $80/hr. This will ensure they will maintain some profitability.

I know, it's a lot to understand. But it's important for you to understand it now before you lose money by not setting the right price. If your not sure what to do send me your questions.

2. Upgrade and/or Revamp Your Target Market

I say this all the time, your target market is the CORE of your business, without them you have no business. I've had to upgrade my target market at least twice over the last five years. Not necessarily because I had the wrong target market but mostly because the market mindset and availability of resources changed. All of a sudden there were 10-15 new competitors in the marketplace! This suddenly changed the marketing landscape and it also changed my target markets access to good resources.

3. Streamline and Focus Your Efforts

I suffered from work overload my first 3 years in business. I'm sure you can relate. As entrepreneurs, we get

Should You Offer Commissions For Customer Referrals?
As a small business owner you may find yourself in a situation where you want to partner with another business but they are asking for a commission on your services. You will want to be prepared to handle such a request BEFORE you find yourself in this situation.Whenever someone asks you for a commission in exchange for marketing your product or service, it is basically an affiliate or referral program. This can be one of the most powerful forms of marketing because it promotes word-of-mouth marketing. Who better to refer clients or customers to you than someone who fully understands the value of the services you have to offer?Often these people are your current satisfied customers, or as is the case with this question, they may be strategic

out there who are undercutting their prices significantly in order to close deals or get clients. This is a mistake if you're not selling at the right price. Let me give you an example of a basic calculation: Company A sells Service B at a retail cost of $130 per hour. The cost of services performed (the raw cost) is $60 per hour. Company A adds 30% on top of that cost which gives them raw cost + 30% cushion profit at $78 per hour (they round this number to $80). The company decides they will sell at a 50% profit margin for this service through the end of the year to achieve their revenue goals. Now, in order to maintain their profit margin of 50% based on selling at least 10 of these services a year, they mark their raw cost + cushion up by 50% . This gives them a retail cost (client cost) of $120 per hour.

I know, it's a lot to understand. But it's important for you to understand it now before you lose money by not setting the right price. If your not sure what to do send me your questions.

2. Upgrade and/or Revamp Your Target Market

3. Streamline and Focus Your Efforts

I suffered from work overload my first 3 years in business. I'm sure you can relate. As entrepreneurs, we get

Anatomy of a Product: From an Idea to Reality
What does it take to turn an idea into a product? How can I realize financial gain from my idea? Where do I start? These and many other questions swirl around would-be inventors and entrepreneurs as they seek to bring new products and services to market. The process can seem daunting for anyone making a first attempt and confronting the typical hurdles and roadblocks the marketplace utilizes to cull the field.I look at hundreds of products each year and have done so for almost 30 years. The ideas that succeed invariably consist of the same basic elements.One, an entrepreneur with passion, a realistic view of the opportunity they have created and a flexible attitude to the inevitable critique and changes the original concept will undergo. The

revenue goals. Now, in order to maintain their profit margin of 50% based on selling at least 10 of these services a year, they mark their raw cost + cushion up by 50% . This gives them a retail cost (client cost) of $120 per hour.

I know, it's a lot to understand. But it's important for you to understand it now before you lose money by not setting the right price. If your not sure what to do send me your questions.

2. Upgrade and/or Revamp Your Target Market

3. Streamline and Focus Your Efforts

I suffered from work overload my first 3 years in business. I'm sure you can relate. As entrepreneurs, we get

Does Your Business Portray Greatness?
How great is your business? Is it destine to succeed in a big way? You’ve taken the first step toward success... you’ve gone into business for yourself. Contrary to popular belief, a business can not emulate greatness just because you do what you’re supposed to do in the field you’ve chosen to pursue your career in.Your business is a direct reflection of you! What are your values? What sets you apart from everyone else? Do the principals that you live by dictate the lifestyle you lead? Of course they do! By the same token, the principals you implement into your business dictates how your business will succeed... or not!As an entrepreneur, you have stepped out of your comfort zone into the world of the unknown. No regular paycheck to count on

understand. But it's important for you to understand it now before you lose money by not setting the right price. If your not sure what to do send me your questions.

2. Upgrade and/or Revamp Your Target Market

3. Streamline and Focus Your Efforts

I suffered from work overload my first 3 years in business. I'm sure you can relate. As entrepreneurs, we get

Titanium Laser Cutting
If you are looking for titanium laser cutting machines, the Internet provides a directory of companies that offer this type of equipment.Laser cutting remains one of the fastest growing methods in the manufacturing equipment industry. It is being used by fabricators of metals instead of older equipment, such as turret punches.Laser cutting machines offer important advantages in precision, productivity, flexibility, material utilization, and part?s quality. It consists of major components like machine frame, beam delivery, drive system, and resonator.A thermal process that is applied to high quality and precise cutting is termed laser cutting. The energy from a laser cutting machine is focused on a material to burn, melt, and vaporize.

petitors in the marketplace! This suddenly changed the marketing landscape and it also changed my target markets access to good resources.

3. Streamline and Focus Your Efforts

I suffered from work overload my first 3 years in business. I'm sure you can relate. As entrepreneurs, we get engrossed in the day to day tasks of running the business. Not only that, we have to secure clients so we can keep our doors open. Sometimes you're running in circles and not sure where you will land. In my fourth year of business I think I had created at least 5 new services and 4 new products. Guess what? Not one of them made me any profit. I made enough money to sustain the business but I was pulling my hair out in the process. Sometimes taking the time to focus only on one or two items and making it the best it can be can increase profits instantly. I suggest taking some time to think about the one or two services or products that you offer that bring in the most revenue. Take those and make them even better, after they've been updated you can raise the price!

4. Update Your Prospect List

This is a big one. When's the last time you purged your prospect database? I did this last year and it resulted in 3 new clients in just 5 days! The size of your database will determine how long this will take. Start by just cleaning up: go through your list and update contact information. The quickest way to do this is by sending out a nice group message asking for updated information and include a question about staying on your distribution list. It will look something like this:

Hi (prospect/client name), I have your company information on my VIP contact list. I wanted to send a quick note to make sure our products and services are of interest to your company. Please take a few moments to answer the following two questions:

1. Would you like to remain on our list? If not, please let us know why.

2. Do you currently have a resource for (your solution here)?

Thanks for your continued support,

Regards,
Name Here
*****

This is just a rough version but you get the point. You can add more fluff and more praise if you like; I personally like to just get to the point. As you add new prospects to your database make sure to schedule them for your yearly clean up notice.

5. Use Your Intellectual Capital and Offer a Free Telecourse

Telecourses are a great way to promote your business and increase your newsletter subscribers as well. Not sure what a Telecourse is, click here. So how do you create a program? For example: let's say you sell widg

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If the calls from collection agencies, lenders, creditors, providers, are not letting you concentrate on making your business profitable, you need to resort to debt consolidation. By consolidating your business debt you’ll be able to dispose of a substantial portion of your income for other uses so you can make your business generate more income.

In life, there will be times when things do not happen in the way we plan for them to. Sometimes, it may be our fault, and other times, it might be difficult to even determine the cause. What is most important however, is that we carefully analyse what happened and decide on a solution that will enable us prevent a re-occurrence in the future. This article describes a simple formula I developed that can be applied in any situation(be it the workplace or out of paid employment) towards doing the foregoing. This article offers useful ideas for both self-employed persons and employees, who want to know how they can turn a blunder they make, into an opportunity for personal or career advancement/success.

The other day I was delivering some coaching skills training for a company when a delegate asked me how she should coach the person who is an introvert and has little to say.

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