Power Moves For Every Smalll Business

The United States loves small businesses - it's official!

Why is this? Well, small businesses are seen as a positive influence "on the way things are going in this country." But it's more than that.

Small businesses are the "heartbeat" of creating value. Either through customer experiences, products, or services. This will be my value added proposition to your company in the form of 10 points... that I believe will be the most useful in establishing integrity, community engagement and a high level of customer service. When was the last time you called a small business and got put through to an automated call center? These seemingly small things come together to create a hugely competitive value proposition - and are the lynchpin of your brand.

1. Determine who needs or wants the product or service you offer.

Identify your target audience and develop ways to engage and interact with them. Ask yourself the questions to narrow down your prospective customer base.

The narrower the definition, the more successful you will be. And don't stop with identifying your customer, but work to build a relationship and deliver a product/service for which they come back repeatedly. Retaining customers is equally as important as attracting new ones. So ask their opinion on your product/service via printed or online surveys or through conversations.

2. Make your customers/clients comfortable with you.

They need to have a sense that you'll be creditable and competent. If you don't meet this standard they're not going to want to go any further with you. The art of the sale is not a matter of convincing people to buy what you have; it's finding what hefty want and your ability to deliver.

3. Leverage social media and e-mail marketing.

Social media and e-mail marketing are important tools as a part of an overall balanced media mix for any type of business. It takes you where your customers are. Neither are magic pills, but intelligently and diligently capturing customer data and maintaining a database is a good way to build a foundation for e-mail campaigns. Social media like Facebook, Twitter, and Pinterest are good ways to build a client/fan base, as well as engage existing customers. To be effective, however, it must be continually monitored and updated as well as organic in it's approach.

4. Know what online resources are available to help you go global.

Find that outlet online that will allow you to plug your product or service into the global market either commercially or government sources. The key service elements that you should be looking for to assist your global expansion platform are market research, trade events, leads, and information on how to export. The Export-Import Bank of the United States provides export financing by assuming credit and country risk. Also, study the topic, Doing business anywhere: The essential Guide to Going Global by Tom Travis may serve as a step by step guide in this arena.

5. Secure capital in this economic climate.

Small business owners are always on the hunt for sources of capital and guidance on how to secure it. Whether hunting for venture capital or an angle investor, you need to have a solid plan in place to reach both types of investor. Know the ins and outs of your business and have at least an executive summary and have a thorough understanding of your business, your competitors, and be able to speak to your unique selling proposition. Build relationships with community banks and always follow the money. Position your company to meet the needs of those industries and sections with business opportunities on the horizon.

6. Develop strategic alliances.

Contractual or information agreements to work together with another entity afford small businesses the opportunity to, "Play with the big boys", literally. Partnering to form a much larger business allows you to go after much larger contracts-with beneficial gains for both parties. Of course, the objective is to collaborate with someone who can supplement your own capacity.

7. Choose the proper system

If you are starting looking to start a business and you desire a systematic approach them consider franchising or private franchising (more commonly known as home based business). A franchise system provides ongoing support in marketing/advertising, training, and education. The emphasis is on marketing and advertising because while a franchisee can gain financing to stay in business, he or she will fail if potential customers don't know that the business exists. The ideal franchise situation should provide additional training and support, an education on how to connect with people in your respective city, and how to access business resources in their community. They also help business owners learn about tax breaks and tax credits available.

8. Know your business credit score.

A common mistake new business owners make when seeking small business capital is failing to establish business credit separate from personal credit. Most lenders will not finance your business without a business credit history. Start by establishing bank accounts and securing business credit cards to be used exclusively for your business. Before moving to secure your business loan from a small bank, consider establishing lines of credit with your vendors. Ensure that all sources of business credit are reporting your payment history to the Small Business Financial Exchange. The purpose of this third party entity is to report to all of the business credit agencies on your behalf.

9. Create your own opportunities.

Entrepreneurs need to be a bit more creative and solution- oriented in today's challenging market place if they want to acquire new customers. Now is the perfect time for idea generation. Target those sectors and industries that are most promising for growth as you utilize government resources to gain that competitive edge!

10. Rethink business

There's no cookie cutter formula for finding the right balance of time and resources when it comes to focusing on improving your leadership skills, so every entrepreneur will have to determine what works best for them. But particularly when business conditions are poor and competition is fiercer than ever, it's clear that the old rules of business are outdated. So be prepared to reinvent yourself and the organization. Read books, listen to audios, and commit yourself to daily growth.

Your Core Business Numerology Profile - Business Path

In business numerology there are three main numbers that make up the core profile of your business. They are your:

Business Path

Business Expression

Business Motivation

Today we will be looking at your business path. This is found from the registration date of your business and represents 35% of your core (business) profile.

Your business expression number also makes up 35% of your core profile, while your business motivation number makes up the remaining 30%. (We will cover those in more detail in parts 3 and 4 of the series)

You might be wondering why the three core numbers are not equally split across the board? What makes the business motivation number slightly less important than the other two numbers?

The reason is because the drive and motivation behind your business can be overridden by you, the owner or your personal numerology profile.

That is why it is so important your core profile aligns with your core personal profile. If not you may experience some unnecessary problems and obstacles.

Finding Your Path

To find your business path simply add together the numbers from the day, month and year you registered your business then reduce them to a single digit.

For example if your business was registered on the 27th July, 2010, your business path would be 1, worked out as follows:

Day: 2 + 7 = 9

Month: 7 (July is the 7th month)

Year: 2 + 0 + 1 + 0 = 3

9 + 7 + 3 = 19

1 + 9 = 10

1 + 0 = 1

Once you have found your business path number, read below to find out what your number indicates.

What Does it all Mean?

Your business path lets you know the inherent strengths your business has and the opportunities it will experience. The main strength and area of opportunity for each path is as follows:

Innovation

Cooperation

Self-expression

Building foundations

Promotion/PR

Nurturing

Analysis

Big picture strategists

Compassionate tolerance

In the case of the example business registered on 27 July, 2010, the 1 path number would suit an innovative, forward thinking business that likes to be seen as the leader in its chosen field. This is also where the opportunities for this business are.

The good news is that if you are starting a new business, you have some control over the date you register it. You can choose to register it on a day that reduces to a number that best supports the function it will serve.

If you are already in business there's not much you can do to change your registration date unless you register a new business name. In most cases this would be costly, impractical and not advised, especially if you have an existing customer base.

Instead, you can take note of the main strength and opportunity of your existing business and look for ways you can apply it in your day-to-day tasks/activities.

Bonus Tip - You can also use your business path number to help you find more clients using social media.

Why Hasn't Manufacturing Upturn Led to Gain in Jobs?

According to the Institute for Supply Management March "Report on Business, the PMI was 59.6%, an increase of 3.1% over February's 56.5%. Norbert J. ORWE, CPSM, chair of the Manufacturing Business Survey Committee said, "The manufacturing sector of the economy grew for the eighth consecutive month during March. The rate of growth as indicated by the PMI is the fastest since July 2004...The Inventories Index provided a surprise as it indicated growth for the first time following 46 months of liquidation - perhaps signaling manufacturers' willingness to increase inventories based on expected levels of activity." This wasn't just an upturn in a few industries - 17 of the 18 manufacturing industries reported growth in the PMI in March.

The PMI is the Purchasing Management Index, based on data compiled from purchasing and supply executives nationwide. A PMI reading above 50% indicates that the manufacturing economy is expanding and below 50% indicates that it is declining. At the very worst of the recession, it was 32.5% in December of 2008.

While it's good news for our economy that manufacturing has grown for eight months in a row, why has the national unemployment rate held at 9.7% for the third month in a row in March, after peaking at 10.1% in October 2009?

It's the loss of manufacturing jobs that is keeping unemployment so high. Too many manufacturers are sourcing all or most of their manufacturing offshore. An upturn in their business doesn't mean more manufacturing jobs for Americans if they aren't producing or buying everything for their products in the United States. Since 2001, we've lost 63% of the U. S. textile industry and 74% of the U. S. printed circuit board industry. We lost 47% of communication equipment jobs and 43% of motor vehicle and parts industry jobs.

In addition, manufacturers are doing more with less; existing employees are required to work harder and longer because manufacturers aren't hiring new people until they have more confidence that the upturn in business will continue. Manufacturers aren't building up inventory to fill orders - they are ordering materials, components, parts, and assemblies as needed to fill orders they receive from their customers.

The number of manufacturing jobs is a better indicator of what's really happening in the economy than the stock market. Many of the companies on the Dow and Standard & Poor index of the stock exchange are no longer American-owned companies. They are companies that I call multinational globalist companies, which have no loyalty to the United States and don't care about providing jobs for Americans. These companies may be doing well based on their worldwide business and could post profits and have their stock prices go up without creating jobs for American workers and benefiting the U. S. economy as a whole.

Tips For Internet Marketing Customers

Internet marketing has had a burst in the past few years. It appeared almost three decades ago, being the invention of entrepreneurial people, with an innovative spirit; people who wanted to leave the busy offices, short deadlines for projects and angry bosses in favor of the privacy of their homes.

How does it work? Well, the answer is very simple. A person who has a business idea creates a website. The website presents the business: items that can be bought (goods or services), details about these items, information regarding the price, delivery or refund.

Customers have to be with their eyes wide opened when they decide to do some online shopping. If you are a new customer, there are a few things you need to know. First of all, don't shop from the first website you find. Use a search engine. Search engines are tools that help the internet users find online database.

Customer service is the most important thing for most of the people when they shop. It is available on the internet too. Customer service still has to work, it doesn't matter that the shopping is done into an online environment. Do not accept rudeness. It is your money sellers are looking for and you expect instead a quality service. Refunds must be available on any serious website. Do not be afraid; do not hesitate to ask for these refunds.

You can face a situation in which the objects purchased can be delivered in a damaged state. Make sure that you receive your money back or another object. It should be your choice.

Look for offers. The first website you visit is not the only one. There are thousands of websites, each with its own offers and prices. A good website always tracks the competition's offers and updates its own offers. Take advantage of this. You will see that it is worth it. Enter websites that provide enough information about the objects they sell. One that has information that you need to search in nooks is not reliable.

As a loyal customer of some website, do not accept e-mails if you don't want to. There are websites that create loyal customers lists. When in such a list, you can receive spams or e-mails containing information about the new objects they provide or offers. They can be useful, but as a loyal customer, it is clear that you enter the website whenever you need something. You don't need them to announce you that it is high time to do it. It is one of their strategies to persuade people buy different items. You might not even need the item.

Even if you are a loyal customer or just a person who wants to try the experience of online shopping, it is important to know that a series of services are at your disposal to help you in the process. Use them to help you; they will keep you away of any unwanted situations.

The Best Business Plan for Your New Venture

A well-conceived business plan does much more than merely describe what will become your business. Your business plan must first and foremost portray you as a competent and trustworthy professional and furthermore sell your entrepreneurial concept.

Along with a description of the products or services you'll offer, your plan will also describe a promising business model, the marketplace in which you'll compete, reasonable estimates of start-up and monthly operating expenses and when the business can be expected to turn a profit. If outside funding is required, then the plan must convince lenders or investors that you are prepared and qualified to build a significantly profitable enterprise. A good business plan will do the following:

Describe the products and services

Identify target customers

Identify and evaluate major competitors

Describe the business environment

Present a profitable business model

Detail the marketing plan

Detail the operations plan

Detail the financial projections

Present the qualifications of the management team

Provide an exit strategy

Here are business plan options for three scenarios:

The Executive Summary

An expanded Executive Summary can serve as a useful business plan, in particular for those who will launch a venture that will have modest start-up costs and operating expenses. A detailed Executive Summary can provide a good road map from which to launch a business venture, yet it is not a business plan option for those who will approach lending institutions or investors.

The expanded Executive Summary will include a description of products and services that will be sold, identify primary client groups and competitors and give an overview of the business environment. The business model, marketing plan, operations plan and financial data will also be provided. To be useful, the Executive Summary business plan must fully integrate the above components and demonstrate how the business will become profitable.

The Operational Business Plan

An Operational Business Plan is produced by an existing organization with several years' performance history, usually with a goal to either apply for expansion capital or prepare for the sale of the company. Operational Business Plans may also be used to upgrade and streamline how a business runs, functioning as a guide for the management team.

The Operational Business Plan delves into great detail about production, customers, competitors, the marketplace and business environment, sales distribution channels, management and staffing. Historical data are available and five years of financial statements are typically included, along with financial projections that forecast the company's expected performance over the next three years.

The business plan to attract investors

When outside investment is sought, it goes without saying that the potential for strong profits must be demonstrated. The more money that is requested, the bigger the promised profits must be and the more quickly realized. A break-even analysis, which shows the timeline for when revenues and operating expenses will equalize and the business will be positioned to earn a profit, along with credible financial assumptions and revenue projections, are critical in this scenario.

If the business is an existing one, the financial projections must appear to be attainable, based on the five-year financial history given. Make sure that your business and personal credit scores are 700+, as lending institutions are highly selective and conservative in regards to awarding loans.

Venture capitalists and angel investors may be somewhat more forgiving of a less than perfect credit rating if your business concept and model are extraordinary. Beta test the products/services, business model and operations with a sampling of target customers to verify product demand and your ability to efficiently deliver the goods to the marketplace.

For VCs, the potential for big profits is king. They are in it for the pot of gold that comes when the company goes public and stock is offered. Angels are not totally dissimilar to VCs, but they are drawn to an entrepreneur's vision and passion in addition to the pay-off.

Regardless of the type of business that you choose to launch and whether you will self-finance or seek funding from others, a well-written business plan will ensure that you think critically about your ability to build a business, either alone or with partners. Your business plan is the road map to entrepreneurial success.

Do You Have Any Idea About Network Marketing?

Internet marketing is a huge business opportunity and does opens up the door to a big fortune and there are plenty of examples of famous millionaires who have paved their way to affluence and success through this avenue. The truth is internet marketing is just blooming and there is chance for each of us to find our own niche of success which will not be difficult if you go through the right procedures. There are millions of home-based businesses which have sprouted up in the recent couple of years and it is estimated that there will be around 80,000,000 home-based businesses in the next five years which is a whooping number and with the number of business options going high, internet marketing is definitely going to succeed and there are opportunities for each of us and the best part about this marketing is you don't have to be a people person because you can market without so much as meeting or speaking to anyone.

One of the first steps in internet marketing is to try to create business relationships with like-minded people. This is a very important criterion in internet marketing and identifying your group of like-minded people will make sure that you are forming your connections with like-minded people which will allow you to form your own network. Forming your own network is a very important part of this line of marketing.

Marketing knowledge is an added advantage but not a compulsory need. If you do not have any sales or marketing knowledge, all you need to have is an open mind to learn. A person who is eager to learn will certainly do well than other people who are not willing to learn the right tips to carry out successful marketing.