Finance and Marketing

We can learn a lot about people by reading their comments and posts on the many different social media sites. This is something that can be a good thing – or a bad thing – depending on who is reading and why.

If you are a business owner, like I am, this can be extremely helpful or hurtful. Whether we like it or not, we ARE the business. What we do and say is a representation of ourselves, obviously. But it is also a representation of your professionalism and trust. Just how important is this?

As the owner of a turnkey business package, we can find a lot about the people who are interested in become a part of our organization. If they are on any social media sites, we are able to get a glimpse of how they will represent our brand if we choose to do business together.

We don’t have to find people who are in total agreement with our thought processes, political views or other opinions (in fact we prefer differences of opinion). And we are not prudes. But we do need to be concerned how people who become a part of our company will be viewed in the virtual world as well as in person. Are their comments offensive? Are they full of language that most people would not appreciate? Would they be a good representative of our brand?

On the other side of the issue is how people feel when they check out the business owner. Will they want to do business with us? If we want to share our love for our favorite college football team, discuss our political views, complain about some lousy service we just received or comment about a controversial issue, we can. But it’s important to remember to do it professionally and politely.

Though people can argue that there is a time and place for everything and anything, there is still the issue of how much are you willing to say and how you are willing to say it. Is it worth possibly losing customers just because you want to exercise our right to free speech? This is a question only you can answer.

Social media is a tool that enables people to basically peek in your windows to see who you really are. When we ask prospective Group Members how they heard about us, the majority have said through an internet search. And most have commented that they then found us on social media. Each one who followed us on these sites stated that getting to know us is what encouraged them to want to work with us. Seeing how we “behaved when no one is watching” gave them the confidence and comfort that we are a company and a couple that they want to be associated with.

This is a helpful comment for us and for all business owners. You don’t know everyone who is following you, watching you, reading you – or why. Representing yourself professionally might make the sale. Displaying a less than professional persona might also prevent the sale.

We experienced an issue a couple years ago that proves how a few words can ruin a reputation with the possibility of ruining a business. Someone posted that people shouldn’t trust us, that we don’t return phone calls. It turned out that this person was stung by another home inventory turnkey business. He was attempting to reach us, and due to phone number misprint (unfortunate timing), we didn’t get his messages. He posted on line that we, and all turnkey packages, were scams. Luckily, we had great support from business owners who know us well and they quickly jumped on the site and rebutted this unknown person’s comments, attesting to our high level of customer service. A few days later he did post a retraction, admitting that he didn’t even search for us on line and assumed because we didn’t get back with him that we were in the same league as the person who treated him poorly. It was a minor blip, quickly corrected, but really shows how fast one’s reputation can be damaged.

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Producing financial accounts may rather be an administrative headache for any smaller business and a lot of enterprises postpone this important business and limit it to an annual function. There are significant benefits that small-scale business venture could get out of operating their financial process as an critical piece of the company administration.

Major business invests enormous amounts with regard to innovative accounting software programs as well as financial control systems mainly because financial control is viewed as critical to financial results. Numerous companies neglect these added benefits counting preferably on personal expertise and in several instances not even that.

Just why would a big business which happens to be focused entirely on the net income and improving that net profit spend money on bookkeepers, accounts clerks, accountants, finance controllers, cost controllers, financial administrators and also bookkeeping software packages? The answer is clear-cut. Thorough solid disciplined budgetary control is undoubtedly necessary to safeguarding the financial well-being of the company and providing the economic platform to make better earnings growth each year.

Almost all company operations are critical for enterprise success. Sales and advertising provide the growth opportunities and creation along with operational programs provide the products to supply that demand nonetheless the accounting element creates the actual platform and prognosis to increase the final outcome.

It does not matter whether a commercial enterprise keeps a manual set up of accounting to record accounting processes or utilizes a programme it’s always vital that routine monthly accounting information get prepared. And also having prepared those business accounts these accounting reports should be analyzed to nurture the business.

From preparing monthly company accounts that present the revenues earnings ideally analysed by service or product category or even origin of sales the potency of a sales promotional event can be assessed in true money. This sort of financial information is needed in order to establish where long run sales and promoting work is required to enhance or eliminate a declining plan or capitalize on a productive approach. Without gauging and examining sales effort management measures gets to be a speculation exercise dependent on gut instinct rather than hard financial facts.

Accountants software system produces a gross earnings margin the business is earning on its products and services. The small business when presented with the profit percentages can make judgments to boost sales prices where achievable to boost the profit or cut back expense of revenue as suitable. Typically the gross profit margin is essential for the business financial circumstances and examining this margin to spot areas where it can be increased can considerably improve profit results.

A month to month profit and loss account would show the amount of outlay in running the small business. Analyzing the monthly patterns produced can generally show some types of expenses going up but some going down. Critical overview of costs will maintain cash control and boost the business performance.

A crucial financial attribute of small business is the level of gross earnings margin in both percentage terms and quantity weighed against the level of fixed expenses. Through making use of this to create a month to month profit and loss account the business management can immediately see and recognize if that gross profit is enough. Action should follow.
Which is the advantage of accounts software, the production of genuine financial data which point out where exactly and how much action needs to be taken in order to improve the income obtained.

That action may indicate a need to strengthen product sales volume, boost the gross margin by way of higher selling prices or more affordable direct costs or a reduction in overhead and company running costs.

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We all despise crowded highways and packed stores, but when it comes to your business, we would have it no other way. In fact, increasing traffic is what we desire and long to have.

Why is the desire and hunger for traffic so important to every marketer and business owner? One fact is, it’s so important, without it our sites would be dead, and there would be no activity going on. In fact it would be like going into an empty store.

If we didn’t desire traffic or seek to accomplish getting traffic to our sites, then we would be defeating our very purpose and may as well place a sign up stating ‘out of business’. So, how do we increase traffic to our sites in order to start making money? We want to be successful at earning money, but in order to accomplish this we need to learn to do it correctly

One definite mistake many seekers do in trying to earn the fast buck is taking a banner and adding it at many sites in hopes of gaining many sales. Sad to say, if you believe this, you are in for a very disappointing response. If it was so simple most people would not go to the extra trouble of trying new advertising methods and would be focusing on banners instead.

Increasing traffic flow to your site takes research, study, and determination as well as being consistent with what you are doing on a regular basis. This is something many do not have the patience for, as we all seek to get the easy money without the hard work.

If you are serious about building a business, it starts with above all, having a passion and love for what you do and being determined to do what it takes to get traffic to your site. Having a desire for money alone, won’t get you to the place of success, but only to your downfall.

Now, finding that several things need to be in place in order to build traffic, lets move it one more step forward. You have to have the right mindset to move forward. Being negative isn’t going to help your business nor yourself health wise. We need to keep that positive focus that will accomplish your goals in moving traffic to our site and will begin making money.

Getting traffic takes a positive focus and a willingness to achieve it. Making traffic happen takes skill and study. One great way is taking hold of learning tools from individuals that have been successful.

If you are serious about getting traffic and earning money and want to stop spinning your wheels, I have a set of free video tapes that helped me so much that I am making them available for you. I have them posted on my website and they will take you through the process, step by step. All it takes is for you to take the first step and then put what you learn into action. These will address every area you need in being successful. Get started today.
settlement payment

Fancy, schmancy website – check!

Catchy tag line – check!

Glossy business cards – check!

You think you’re in business and ready to roll around in the money on your bed like Demi Moore in the movie “Indecent Proposal.’

Cue the screeching record…not, so.

Knowing that 90% of all small businesses fail in the first year, what is the secret to an entrepreneur’s growth for business?

Knowing the ins and outs of marketing.

Most entrepreneurs don’t know marketing, which is why most will fail.

Many believe that having a website will allow customers to find them, however, I liken that to buying a house and hoping your friends and family will just find the house when you tell them what town you purchased in.

Probably not going to happen.

Marketing growth for business is the end all, be all for business success.  Nothing will determine the success or ultimate doom of a business more than the marketing efforts of the business owner.

Most entrepreneurs who go out of business could salvage that fate by finding mentors to teach them the correct marketing strategies that would get customers in the door and the business profitable.

Most business owners place an ad in the newspaper and wait for the crowds to trickle in and are frustrated when that does not happen.

Considering that potential clients must see your ad/marketing 7 times before they even notice it, it is not realistic to think that one ad, or one article online will produce an influx of new clients. Once you have your ideal client’s attention, they must hear the offer 16 times before they will even think of taking action…and that’s assuming you have targeted the correct customer base!

Marketing is a science.

Marketing takes strategy.

That’s why growth for business only comes with an entrepreneur’s efforts to learn and implement consistent marketing strategy that works!

Without a consistent monthly marketing plan, an entrepreneur will, no doubt, experience the following business set-backs:

- Overwhelm
- Procrastination
- Feelings of being stuck
- Chaos and messiness on their desk, surrounding environment, in the car, etc.

Entrepreneurs tend to want it so badly that they attempt to do everything!

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When it comes to marketing, every business owner should know that marketing is one of the most important aspects of a business. There are three marketing concepts that you must fully understand if you are an entrepreneur. I call them the 3M’s of marketing: Market, Message and Media. After reading this article, you will know how to improve your marketing strategy which will redound to the improvement of your business and generate more income for you.

The 1st M of marketing is the Market. This refers to your target audience that most likely to buy your product or service. You must know their demographics as well as their psychographics. If you can’t define them, you can’t find them. For example, are you going to offer meat to a vegetarian? Of course not. The probability of you creating a purchase is nil. Usually the best target audience for your product are those people who already bought similar type of product as yours.

The 2nd M of marketing is the Message. It is what you want to tell your audience and how you want to tell them. You must answer two key questions if you want your message to be more effective: (1) Why should I buy this/it? and (2) Why should I buy this/it from you? You must also focus your message on the benefits of your product to your specific market. Also part of the message is branding yourself so that when customers think of a product they think of you. You want your customers to see you as an expert. What is your USP or unique selling proposition? That will be your primary distinguishing feature.

The 3rd M of marketing is the Medium. It is the vehicle you use to deliver your message. It is how you reach your target audience. There are different medium that you can use such as advertisement in newspapers and magazines and even in the internet; television and radio commercials; using a referral system; etc. The important thing is that you reach as many of your target market as possible with the least amount of expenses.
Now that you understand the 3M’s of marketing, you’ll probably approach it in a whole new light. Remember that it is important to know your target audience (market), deliver the right message to them, and use the most effective and efficient medium possible. So put this into use and see your profit increase dramatically.
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