|Small Business Information|
How to Get Maximum Results With Minimum Effort
Get maximum results with minimum effort. Sounds great doesn't it? The key is leverage. You can get a huge result from relatively little investment of resources. Weather it's time, money or intellect, you only have so much. The key is to use your resources as a lever to really explode your income!
A great example is real estate. You control a relatively large asset with a fairly small investment. Say you have a property worth $250,000 that you got with a $12,500 down payment. Leave aside for a moment the fact you probably could have acquired that property using little or none of your own money. In most real estate markets a realistic annual appreciation is 8%. You would gain $20,000 in value the 1st year alone. You have used the power of leverage to get a staggering 160% annual return on your $12,500 investment! With real estate, you can also get additional leverage from tax advantages and rental income that are available. So it's pretty easy to picture real estate as an example of leverage.
Another example is selling to an account versus selling retail. When you sell to an account, you leverage your initial efforts into a long term revenue stream (the best kind!). It may take more effort initially to close the account sale, but that is more than compensated by the steady sales that can continue to roll in for years. You can now just maintain the account, which takes much less effort than it takes to get it in the first place.
One form of leverage that you just can't afford to ignore is your network of contacts. Weather it's a mailing list or just a social network, you can use your network to meet better suppliers, make sales, generate referrals and find great investment deals. In short, your contacts could be the most valuable form of leverage you have.
Multi-tiered affiliate sales and marketing programs are a fantastic example of leverage. You can lever your effort and money spent to gain your affiliates into a solid revenue stream. The second tier, and beyond if applicable, all give you additional sales through no more investment on your part. If you get productive affiliates, your affiliate tiers could easily generate more revenue for you than your direct sales. Once again, leverage.
Employees are definitely a form of leverage for a business owner. Their efforts are leveraged into revenue, and hopefully, profit for the business. Every dollar the employer pays the employee in compensation is leveraged into a larger dollar amount.
If you aren't using leverage, it's going to be a long haul. You must use leverage to maximize your efforts. Analyze everything you do in your business. Make sure you are leveraging all your resources to achieve your goals. It will be a much shorter climb to the top.
Steve Faber has been successfully marketing both on and off line for years. He has been a principal for a bricks n mortar business that grossed almost $2 million a year. He has been involved with several successful websites for both bricks n mortar and online businesses. You can get his free newsletter with great information to really grow your business at: http://site.liveanotherday.com/newsletter.html
5 Good Reasons a Self-Employed Professional Should Take Vacation
So you think you're not justified in taking time away from your business because you're self-employed? Here are five great reasons why you should definitely take a vacation:
SBIR vs STTR
SBIR vs. STTR: If you are participating in the SBIR program you may also want to consider participating in the Small Business Technology Transfer (STTR) Program. The STTR program is considered SBIR's twin sister, although there are some added hoops one must jump through in order to participate. Like SBIR, the STTR is the US Government's way of providing "seed" money to spawn technology growth. The key difference however is in the structure of the effort, whereas a small business must partner (via a subcontract) to a university or non-profit research institution in order to acquire STTR funding.
Collect that Debt - Your Business Depends on it
The efficiency of debt collection is the difference between a business that will succeed and a business that closes up.
Eight Key Steps to Selling Your Business and Cashing In
This year, some 700,000 American businesses will be sold. Most will be small and mid-sized businesses like yours. If you, too, are thinking of selling, consider these practical steps for making the process go smoothly.
Fleet Washing Expansion Considerations
Many times small businesses want to expand their businesses and are not sure when the best time to do that might be. The key of course is cash flow. Will your current and brand new accounts afford you the cash flow to expand? Let us run thru a scenario with you and just so you know this is good advice, I own the Truck Wash Guys and have been doing this a while. Each time a franchisee wished to expand and ask for advice, I would look at their situation and determine if it was a wise idea. Sometimes it was, but often it was not. So let us look a hypothetical scenario for a moment:
How to Use Graphs and Charts in Your Business Plan
Many people ask how many graphs or charts they should have in their business plans. As with most other business planning questions, the answer is "it depends." This article discusses the key factors influencing the number of graphs and charts to include in your business plan.
Three Small Business Secrets to Getting More Billable Time
As small business owners we're in business to make money doing what we love. And that means we need enough billable hours to cover our expenses, our payroll, upgrades in skills and technology, and profit. But if stay in business for any length of time, you eventually reach the point where you just don't have more hours in the day to give to your business. After all, you have a personal life too. (If you don't have a personal life, you really need to work on that.) So, if you've maxed out on the hours you have available to build your business, how can you get more billable hours?
When and Why YOU Are the Best Writer for Your Business Plan
WHEN you are operating or planning a small business that is seeking funding for less than five million dollars, it's wise to consider writing your own plan.
Mobile Car Washes and Shoe Policies
Mobile carwashing is hard work, it is tough on the your body and it pays to have athletic type shoes that do not get wet easily. Sometimes rapid pace car washing in parking lots can be a lot like playing basketball, except you are on a slippery and uneven surface. Here is some advice after 27 years in the business of twisted ankles and soggy socks.
WARNING to Home Based and Small Business Who Want to Buy Television Cable Advertising
Most small businesses will not even try to advertise on television. It's too expensive and the audience is too broad. The ads on television are not targeted enough. Think back to the last time your entire family was gathered around a television set. It was fun family time, but think of how different each member of your family is. The children at different ages want different things.
Secrets to Washing Fleets of Trucks from a Nationwide Fleet Washing Service
Washing the exterior of a truck. Sounds easy right? Well, it's not really. When you soap a truck, it is very important that you are careful to soap around all the handles, turn signal lights, steps, and wipers. You want to soap all that stuff by hand. Use a one-foot by one foot lamb's wool square-not a mitt, they don't work well. You can use a brush for the rest of the truck, but you have to get in around the handles and stuff by hand. There is no shortcut if you wish to maintain quality.
Multiple Clients Create Your Independent Business
Would you rather have one good client paying you five thousand dollars per month or ten smaller clients paying you five hundred dollars each per month? Here are two good reasons for choosing multiple clients over just one client.
Lubbock TX Good Market for a Service Business
We very much like what we see in Lubbock, TX as a good place for a service business. The city is a very well designed and laid out town with growth in the 4-5% per year range, growth in the Northwest quadrant of the city is steady and good. We are bullish on Lubbock and see how a service company could advance forces into the area to seize market share. There is excellent labor there due to the colleges and a strong growing middle class with younger families. Retail sector is good as well along the Northwest outer ring.
The 5 Traits of Baby Boomer Business Owners
As a practitioner and student of Small Business Marketing, I was recently contemplating ways to enhance my business. I found it fascinating to realize that over 95% of my customers and hot prospects were Baby Boomer's who own a small business.
Tips on Setting Up Your Small Business Bank Account
One of the first things you will need to set up is a bank account. We recommend a large bank because:
Too Many Lawyers in Franchising Today
Attorneys and Lawyers are ruining the franchise industry. It is too bad too, because franchising represents over 400,000 businesses in our country and accounts for just over one-third of every consumer dollar spent in this country. By over regulating and over lawyering the industry we are weakening our free markets and suffocating our up and coming entrepreneurs.
Small Business And The Ability To Find Market Place Opportunities
Marketing is one of the four corner-posts of a solid business. Knowing a few marketing tricks is great, but to be really successful you must be able to assess market place opportunities. Here's 13 points you should look at? It is necessary to understand the prevailing economic and industry conditions. Analyze the demographics of your customer base
Three Ways to Add Leverage to Your Small Business
Remember those drawings from science class of how a lever works?
Trailblazer Interview with Diane J. Levin, Partnering Solutions
Today is a Red Letter Day! It's special because today is the first edition of the Trailblazer Interviews.
Top 10 Record Keeping Mistakes Business Owners Make (and How To Avoid Them)
If you interviewed business owners of failed businesses, a majority will tell you that they didn't understand or feel comfortable dealing with the "book work". Your ability to understand and perform day to day accounting tasks in your small business is a critical success factor. Here are some tips to help you avoid the most common mistakes business owners make.
|home | site map|