Many business owners simply set up shop and instantly start running ads. They never invest any time in designing their marketing or sales strategy. The result is that they lose thousands of dollars and usually don’t get the sales results that they’re after. We’re going to share with you a simple marketing strategy that’s time tested and business proven. It will empower you to get the maximum leverage from your marketing efforts.

Think of the overall market in your city. Your ‘potential market’ is comprised of all the potential buyers of your product or service in your city. To simplify the process, we overlay a ‘Spectrum’, called ‘The Buyer’s Spectrum’, over top of the potential market. Realize that on one end of the spectrum, 3-5% of the market have a preferred vendor (a family member, a business that they’ve been with for years, etc.) and will never buy from you.

On the other end of the spectrum, 3-5% of the market are NOW buyers and respond quickly to virtually any type of marketing. This leaves roughly 90% of the market that doesn’t want to buy what you’re selling right now yet WILL BUY at some future date.

Amazingly enough, the majority of companies focus their marketing efforts exclusively on the 3-5% of the market that are NOW buyers. They leave the remaining 90% of potential customers on the table. Their philosophy is that if a prospect doesn’t buy from them right now, then they discard them and focus on the ones that do want to buy from them. If you share this philosophy, you’re making A BIG MISTAKE!

‘Why’ do you ask? Well, think about a grove of orange trees. If you wanted to pick the ripe oranges, do you think that all of the oranges ripen at the same time? Of course not. The oranges ripen all at different times (we call this ‘The Customer Buying Cycle’). So what do you do, simply pick the few oranges that are ripe and then burn the rest of the field? Once again the answer is no. Yet this is what many companies do.

If you want to get more of the ripe oranges, then what you must do is water, fertilize and nurture the orange tree grove consistently. Bit by bit, the other oranges WILL RIPEN. And when they do, you’re there pick them. Now you may not get them all yet you’ll certainly get the lion’s share.

In the same way, you ‘water, fertilize and nurture’ the 90% of your potential market that doesn’t buy right away. And like the grove of orange trees, bit by bit, they too will ‘ripen’ or buy what you’re offering. If your marketing strategy addresses this, then you will get the lion’s share of the customers.

For you to get most out of your marketing and sales, your marketing strategy must address the phenomenon of both ‘The Buyer’s Spectrum’ and “The Customer Buying Cycle’ to be effective. Make sure to read our article “How To Increase Your Sales By 300% Or More By Effectively Leveraging Follow Up Systems”.

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Flight of the Conchords performing their song “Business Time.”

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What types of things can I write off onto my business? (dinners, gasoline, etc.) Do I need a seperate business credit card/bank account for the expenses?

Do I have to accept payments towards the business's services through a corporate account, or can they make the check/payment directly to me?

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Mature industries like banking, pharmaceuticals and insurance have been outsourcing for decades – even before the term became popular. These verticals have standardized processes in their industries which enable them to easily scale – based on the economy and market conditions.

Because outsourcing has become available to small business owners and online professionals, you can now expect the same level of scalability, efficiency and cost savings that exists in other well-managed businesses that leverage outsourcing.

According to a report titled “Global Sourcing Trends in 2009” by U.S.-based law firm Morrison and Foerster:  Most outsourcing transactions intend to produce immediate improvements to the bottom line for businesses. While this is a common reason to outsource, with fluctuating economic times like we have been experiencing lately, the flexibility to scale up or scale down (based on the business’s needs) has been the determining factor to outsource.

Smart executives are using outsourcing to build flexibility and scalability into their businesses—and to gain access to a global pool of skills at competitive cost.

The recent economic downturn led many companies, especially those who don’t have existing outsourcing contracts, to consider outsourcing. But companies who already have outsourcing agreements are re-evaluating their outsourcing decisions to find providers that offer more business continuity and integration.

In an environment where Fortune 500 companies have disappeared overnight, a successfully executed outsourcing partnership could make the difference in a company’s ability to ride out these challenging times. The flexibility to bring on needed help and expertise in times of growth – without committing to a project contract or adding people to the payroll, has been an invaluable solution to the small business owner and online professional. In addition to providing scalability, this also allows the owner to focus on core competencies of the business.

Outsourcing provides businesses with instant scalability and service flexibility, as well as reducing overhead costs.  One of the major advantages of outsourcing is that companies can now get the best from new developments without the expense.

In terms of new technologies, new processes and new ways of doing things, you don’t have to invest to do that in-house.  Outsourcing is also particularly beneficial for new businesses, or those looking to expand their operation. This includes those who do not necessarily know what hardware or software they will need.

Outsourcing providers with more experience should be able to advise companies about where to spend their money, so that they do not waste time and resources.

Any hesitation to outsource may be affecting your company’s chances to effectively scale for growth in this highly competitive business environment. As a small business owner or online professional, carefully consider your outsourcing partner when looking to expand your business and make it globally competitive.  When considering a company for outsourcing, make certain that they are equipped to handle the ebb and flow needs of your business when scaling up, and when scaling down!

Watch the video related

Flight of the Conchords performing their song “Business Time.”

Help answer the question

What types of things can I write off onto my business? (dinners, gasoline, etc.) Do I need a seperate business credit card/bank account for the expenses?

Do I have to accept payments towards the business's services through a corporate account, or can they make the check/payment directly to me?

business

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To achieve financial independence, experts encourage even currently employed individuals to consider entrepreneurship. Setting up your own business, no matter how small, is touted as one of the best ways toward building the foundation for wealth. Those who are concerned about having a safety net need not take the plunge recklessly. One can start setting up a small business even while employed.  

Of crucial use to small businesses are credit card services and small business loans. The entrepreneur needs to know how to avail of these tools and how to effectively wield them for maximum business growth.

Credit Card Services

A small business would do well to get reputable credit card services in order to prosper in the current business climate. Availing of credit card services will enable it to accept both credit card and debit card payments. This is true either for brick-and-mortar businesses or internet based online businesses. After all, most consumers nowadays routinely use credit cards or debit cards for payment purposes. It only makes good business sense to be well-equipped for the needs of credit card users and debit card users as well as for the needs of customers who pay in cash.

Merchant services provide credit card services covering a wide range of solutions for the processing of credit cards and debit cards as payment options. These credit card services include traditional terminal equipment at point of sale, where credit cards or debit cards are swiped. It also includes software and high speed IP solutions for both traditional commerce and e-commerce. Credit card and debit card payments can, therefore, be accepted in person or through the internet, by phone or by fax.     

Small Business Loans

Any business – whether a small start-up business, a medium-scaled one or a big business company – will be needing an infusion of additional capital sooner or later. Additional capital is always needed for expansion, additional inventory, additional manpower, new systems, new equipment or a new physical layout.

Capital is not always easy to come by, though. The original investors’ personal coffers may have been emptied by the earlier outlays. Prospective investors may not be keen on shelling out funds in times of crisis. Businesses, therefore, have no choice but to seek business loans.

Getting business loans is a difficult process. Even small business loans are not readily approved. Be prepared to present a lot of documentation and paperwork. For small business loans, the proprietor’s personal credit history is taken into account and related references need to be submitted. Of course, the company’s financial statements are just as important in proving the feasibility of the business and its capacity to repay its business loans. Having a detailed business plan will show your business strategies and projections, demonstrating your business acumen.

Unfortunately, even with all the requirements completed, applications for business loans – including small business loans – are, more often than not, disapproved.

Solutions

Some merchant services provide a comprehensive solution for the needs of small businesses in relation to credit card services and small business loans. The set up is elegantly simple. A small business need only avail of the company’s credit card services to be eligible for merchant cash advances. These cash advances are actually small business loans, except that there is no need to go through the complicated application process for business loans. Repayment is made very easy and worry-free, too. A certain small percentage is built into the credit card processing rates to take care of the advances. This way, repayment is actually done automatically in a very affordable manner and according to income flow.

Small business owners would, indeed, be wise to look into these timely business solutions.

Watch the video related

Flight of the Conchords performing their song “Business Time.”

Help answer the question

What types of things can I write off onto my business? (dinners, gasoline, etc.) Do I need a seperate business credit card/bank account for the expenses?

Do I have to accept payments towards the business's services through a corporate account, or can they make the check/payment directly to me?

business

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