The world around is filled with all kinds of wonders and we can gaze at them only by opening our eyes and our hearts. After all you need to believe in magic to be able to believe it. However, if you’re someone who is a bit on the cynical side, we bring to you a list of the wonders that exist all around the world. If you are a fan of archeology, history or travelling you’re definitely going to enjoy this article. Oh and if you plan to travel after reading this, don’t forget to look into Cathay Asia Airlines.
1. The Great Pyramid of Giza
The crown jewel of Egypt and the only surviving architecture from the original Seven Wonders of the Ancient World, this pyramid is truly a sight to behold. This pyramid is said to be built as a tomb to the Egyptian Pharaoh Khufu. The building is approximately 480 feet tall and was the tallest building in the world for more than 3800 years. This pyramid when built was outlined with a limestone casing which with time got destroyed. Now you can only see the casing near the bottom of the pyramid whereas the top exposes us to the inner lining of the pyramid.
2. Petra, Jordan
Petra is often called the city of rose due to the red colored stones that it is made of. This beautiful hidden city is famous for its architectural grace and the water conduit system. Even though the city is located in Jordan, it was actually discovered by a Swiss explorer in the early 19th century. This place is also said to have structures that are more than 2000 years old.
3. Christ the Redeemer, Rio De Janeiro
This miracle took a total of nine years to be constructed due to the its location on the top of a cliff. This is the third largest statue of Jesus in the world. The raw materials for this statue were actually imported from Sweden. This beautiful statue was actually constructed as a sign of peace, to show that Christ loves everyone.
4. The Great Wall of China
This wall that stretches over 8000 kilometers was built over a period of 2000 years and renovated over time by many different Chinese dynasties. It is said that millions of people died while building the wall and that they’re buried within the Wall’s foundations. The Wall is also famous because it is the only structure on Earth that can be seen from the moon without any aids. Fascinating right? Go check it out yourself!
5. The Colosseum
This fighting ground of the roman gladiators took 8 years to build and was designed by the Roman Poet Virgil. The Colosseum has more than 80 entrances and can house 50,000 people at one time. It receives millions of visitors every year and is therefore the biggest tourist attraction in Rome.
6. The Leaning Tower
This beautiful tower located in Pisa is famous because of the way it inclines with height. The architecture has been constructed in a way that makes it feel tilted. If you’re ever in Italy, this is a must place to go to.
7. Taj Mahal
Constructed by an emperor in the memory of his beloved wife, this palace is a symbol of love for the entire world. The intricate architecture and carving inside this Mahal will make you fall in love with it. And if you don’t believe us, why don’t you go see it yourself? All you have to do is book your ticket using Cathay Asia Airlines.
Stop! Turn off your cell phone.
Quit tweeting and texting for the next 4 minutes. Grab a cup of coffee.
Shut the door so there are no distractions. This is that important!
Because I’m about to reveal to you the greatest secret to getting a business loan for as much as $25,000, $50,000 or even $250,000 – even when the bank says “NO!” and even if you don’t have perfect credit.
I have to warn you though… Don’t pay attention to the credit card companies. Forget everything you’ve heard. You can actually hurt your chances of getting the small business loan you need if you follow their advice.
It’s true. Why? Because they’re more concerned about raking in record profit margins and reaping huge bonuses! They don’t care about your business or if you get a business loan.
Credit cards companies want you to keep piling up debt on your high-interest personal credit and hold you personally liable for your expenses.
Do you think they really care if it takes you 10, 20 or 30 years to pay it back? Or if lowering your spending limit for no good reason has affected your business? Or if your personal credit is destroyed while you try to build the business of your dreams?
Of course not. Not when it means more money for them! And let’s not leave out the banks. Business lending is at all-time lows. Think they’re interested in taking a risk, however small it may be?
The secret… How to get a Business Loan
But there’s a little known secret that most small and mid-size business owners don’t know about. Heck, even most credit card companies don’t advertise it. I didn’t even know about it and I’d been running businesses for years!
Accountants I’ve used for years weren’t aware of it. Lawyers who I’ve paid up to $700 an hour didn’t know about it. But I’m about to reveal it to you right now and it won’t cost you a penny…
I’m not going to make you read every word of this or make you jump through hoops to get the secret. I know you’re busy so I’m going to give it to you right now and then explain how to make this secret work for you.
Here it is: You can get a small business loan. Usually reserved for large corporations, there’s a 7-step process for small and mid-size business owners to get the business loan they need without a traditional personal guarantee.
Mystery solved! More about that in a moment…
Whether you’re looking for a start up business loan, have an existing business or if you’re buying a business or franchise, you can now access working capital.
Don’t have perfect personal credit? No problem.
It doesn’t even matter if you have less than perfect personal credit. You can still get business financing, whether that’s a merchant cash advance, or business loans with bad credit.
That’s right. You no longer have to rely on your personal credit to finance your business. You can rebuild your personal credit and create a business credit profile to get the business loan you need to grow your business.
Imagine not relying on just personal credit cards to finance your marketing, purchase inventory or pay for expenses… sleep easier every night knowing one misstep won’t cost you your family’s home… and get access to much needed working capital so you can expand. That’s a dream come true for many business owners I work with, especially right now.
Does this sound familiar?
“We’re very sorry to inform you that your credit limit has been reduced due to current economic conditions… “blah, blah, blah!
Take one client we’re working with right now. Mike owns a dozen wireless phone stores. This is his most recent venture after successfully running other small businesses for more than 30 years. And just like he’s always done, he financed his inventory with his American Express card.
Every month he bought $50,000 worth of inventory, sold it and paid it off before the end of the month. But just a few months ago, his purchase was declined. American Express reduced his credit limit from $50,000 to $30,000 without any notice – not because of anything he had done.
The only response he got went something like this: “We’re very sorry to inform you that your credit limit has been reduced due to current economic conditions… ” blah, blah, blah! So he had to scramble to find other ways to finance his inventory. A short while later his $30,000 inventory purchase declined. Why? Because his credit limit was reduced to $20,000. Then his credit was squeezed again to $10,000.
It gets worse. As his credit is getting squeezed American Express is reporting to the other credit bureaus that his credit is being reduced so they also follow suit.
Meanwhile, the amount of debt as a percentage of his total available credit or what’s called his debt utilization rate increases. This is one of the most important indicators creditors look at when evaluating a credit score – and Mike’s personal score was dropping like a brick.
When he came to us, we immediately showed him how he could separate his business credit from his personal credit and his first reaction was, “I didn’t know I could do this. Are you telling me that I could have been building business credit and may still be able to get a small business loan?”
The answer is, “Yes!”
We’re working with him to help him and he’s borrowed $100,000 that does not have a traditional personal guarantee.
You really can get the funding you need without putting your personal credit at risk.
I’ll show you how in just a moment. But first I think it’s important that you know a bit more about me.
I own a firm that specializes in helping business owners get the business loans they need to finance their businesses without sacrificing their personal credit.
If you’re like me you probably thought business funding wasn’t even an option.
As a small business owner (prior to starting my own financing company), I personally guaranteed everything because I thought that’s the way it was done. I even prided myself on how well I did it while growing my Internet marketing business. I started with a $5,000 line of credit on my American Express and I played the 30-day float. Over time, I was regularly spending $300,000 on my card – every month!
If anything went wrong the expenses would have crushed me. I didn’t have that kind of money to cover the costs! Fortunately, I was lucky enough to avoid disaster.
Being able to make more money in your business when you are taking a vacation sounds amazing and it is possible. In this article, you will learn how to take a vacation and make more money in your MLM business.
There are 3 reasons that you will be able to make more money in your MLM business because of your vacation so get ready to pack your bags.
Shows the Lifestyle
The last thing people want to “sign up” for is another job but when you can show how network marketing allows you to travel and enjoy life, more people will be interested in joining your team and coming on board with your business. Show people the lifestyle by going out there and living life. Not everyone is impressed by your ability to be a shut in.
Sense of Urgency to Get Things Done
When we are getting ready for vacation we understand that we need to get things done. We often get more done in the last few days before a vacation than we have gotten done all month. This is because our brains are helping us work toward the reward instead of just trying to keep busy with mundane tasks.
Clears Your Mind
After you get back from your vacation, you are going to have a new drive and desire to get things done. You will be operating with a clear mind. It is kind of life rebooting your brain so that you can think clearly and be able to get things done in a much more efficient manner.
So, now that you know, get ready to take your vacation and reap the benefits. Grow your network marketing business and enjoy your life at the same time.
In part 1 of this article series we met 3 individuals with unique backgrounds that left corporate and forged their own way. Here we illustrate 2 addition stories along with important strategies and tactics you need s you go forward in your own business. This journey of starting your own business is not for the faint of heart, but the success you will find will be life-changing.
Here is what you will learn:
1. Franchising is a good option for a business.
2. Doing your own business is very rewarding.
3. How coaching is vital to making your business a success.
Our first entrepreneur, was a successful high-level executive first at Ford and then at Terex, a firm focused on lifting and material processing products (e.g. cranes), with all the associated perks and incentives. Meet Pete Gilfillan. He had the good life and no reason to change until one day…
Alan: I saw that your main business is helping people evaluate franchises (FranChoice). How did you get started in your own business? What triggered that decision?
Pete: I was a corporate executive, first with Ford and later with Terex and they literally owned my life. I was traveling all the time. I just decided one day I had had enough and I would be an entrepreneur.
Alan: Tell me more about what happened when you decided to leave corporate life.
Pete: In my last position, I was with Terex. I live in Chicago, but the Terex is headquartered in Connecticut and I was on the road 6 days a week and much of the travel was international. With all the travel I didn’t eat right, didn’t exercise and frankly I was miserable. I was in another country and I woke up in the middle of the night and I couldn’t remember what country I was in. I realized then I had had enough. When I got back to Chicago, I told my wife about the decision. At first my wife wasn’t keen on the idea of my leaving corporate. She saw the practical side of staying in corporate (financial security), but I knew I needed to make a change. I quit my job and I started working with a franchise consultant in order to find a franchise. After a few months we found Junk King and saw that it was be a good fit. I liked that it was a service based business and could be scaled up; such as adding trucks as the business grew and it had little overhead. Later, I started to work with FranChoice, where today I’m one of the top franchise consultants. I really like the way their business model works. There is no cost to individuals (companies pay FranChoice) and it gives me the opportunity to do what I love most, which is to help people find the business that meets their needs.
Alan: That’s great. You are able to do what you love. Let’s change gears for a minute. I saw that you wrote a best-selling book. Writing a book is a big step. How did you come up with the idea for your book?
Writing is a key way to demonstrate your expertise and build your business
Pete: Darren Hardy, who is pretty well known in the entrepreneur circles, is my mentor. I went to his High Performance Summit and Darren said one of the best ways to give back is through writing a book. Since I have a lot of knowledge about the franchise business, doing a book on it was a good fit.
Alan: How did you find the time to write?
Pete: There is many ways to write a book. I found a company that would write the actual words while I talked. I would put together an outline for each chapter and talk for a couple of hours with the writers. We would meet for 2 hours a week, either early morning or late at night. After a draft of the book was created, I had someone edit the book. Even then it took a year and a half to complete the book.
Alan: How did you go about publishing it?
Pete: I was able to find a publishing company through my business coach.
Alan: It had to be daunting to start your own business after being in corporate. What is one thing you wish you knew before you started your own business?
Pete: If I could have been able to keep my corporate job and invested in franchise and then make the leap instead of going in cold to my own business, it would have saved me a lot of angst. I may have done something different than Junk King. I could have started a franchise on a part-time basis, say 15 hours week. With Junk King there was no way to do it on a part-time basis.
Alan: What’s next for you?
Pete: Speaking engagements, so I can reach more people and continue to work with ExecuNet, which is a private community made up of over 750,000 CEOs, VPs and various leaders and influencers.
Alan: Any final words?
Pete: I would say that for franchising, people need to have an open mind. When people ask me about franchising, they have already made up their mind that it would be food (McDonalds, etc.) They have that in mind because they see a lot of people eating at those restaurants so they assume it is a good business to get into. I help them understand that the food business is very competitive; has high capital investment and a high cost of goods sold (the food). There are over 3000 franchises in every conceivable business that may fit their needs. It doesn’t have to be food.
But regardless of what business you go in, whether it is a franchise or not, you need to work hard. There is no substitute for hard work.
Alan: Good words to live by. Thanks for your time.
Our second entrepreneur was a successful telecom executive before going into his own business. He shares key ideas on making your business grow. Meet Rick Lochner.
Alan: How did you come to be an entrepreneur?
Rick: I’ve known for some time that I wanted to be in my own business and that it would be in the leadership area. I worked with entrepreneurial company and it was sold 2 years after I started. I went to another company and 2 years later it was sold. The turmoil of being at companies that are going through turnarounds is very difficult for everyone involved. It is very long hours, great stress and often the rewards of that hard work just aren’t there. I’ve been laid off 4 times in my career so I knew corporate has no security. I even negotiated my severance package before I went to work a healthcare company.
Alan: How exactly did going into your own business occur?
Rick: My wife and I were having brunch with a couple and we talked about how it would be great to start business and details on what that business would look like when it started in a few years. At the end of the meal, I said, “Why are we waiting; let’s do it!” It was one of the best decisions I’ve ever made.
Alan: What do you like best about being an entrepreneur?
Rick: The best thing is I get to do what I love. In corporate, there were many things I had to do that I really didn’t enjoy. Being an entrepreneur, being in my own business, enables me to live with purpose and that is very meaningful to me.
Alan: Is there anything you would do differently now if you were just starting your business?
Rick: I would have pursued the non-profit market right away. I didn’t because people told me there is no money in that business, but that is not true. That market needs to be approached differently than for-profit but they need my services just as much. Now non-profit is 25% of my business. But you asked if I would have done anything differently and the answer is no. The business strategy worked and I would have approached starting the business the same way.
Alan: What challenges did you have starting out?
Rick: I started the business in July 2008. The US was already in a recession and financial markets were in turmoil and little did I know things in the business world were about to get a lot worse. I had worked in telecom for many years as an executive and I had been quite successful. I had a load of contacts at my previous company, Sprint; there were many people that knew me well and respected me but I was not able to get business from them. They still saw me as a telecom executive and not as knowledgeable in leadership development, even though I had been developing leaders at Sprint. I had traveled a lot during me years in corporate and my connections in Chicago were no better than in Atlanta or any other U.S. city. I knew I needed to develop roots in the local community. I joined Naperville Area Chamber of Commerce and started to created circles of influence. In time the contacts I made developed into connections for the business. It wasn’t easy, but I went all in; 100% to make the business work.
Why having a part-time business is so important
Alan: What advice would you give to someone that is climbing the corporate ladder?
Rick: Every corporate employee should have a part time gig to provide a bridge to go into business for themselves or just to have a secondary income source. I started teaching leadership at Keller School of Business in 2004. Teaching helped in the 8 months transition to my business full-time. It provided income after getting laid-off; making it easier to focus on the growth of the business and not where the next paycheck was coming from.
Alan: What has been the biggest challenge in your learning curve as an entrepreneur?
Rick: Marketing was new to me; I had not worked in that area. So I put together my business plan and my marketing plan and discussed it in detail with my two mastermind groups. They both said the business plan was great and was going to work but the marketing plan was not good. So I was tutored in marketing from people that were 20 years younger than me and their advice was spot on. This taught me a couple of valuable things. 1) You have to know what you are good at and what you are not good at and find experts in the areas that you are not good. 2) Spend a lot of time with people 20s to early 40s in order to gain insights on trends.
Alan: What additional advice would you give to someone that was looking to start their own business?
Rick: Know what problem you are trying to solve and position yourself so that is clear that you are the only one that can solve it. Too many people get hung up on their product or service and less focused on the problem to be solved. If you are going to go for it, then you really have to go for it. At the core, you have to know how to solve the problem in a unique way.
Alan: How did your writing a book come about?
Rick: The business model I developed has been a work in progress since 1999. I used that model to align the business at every organization I led as an executive. Often we try to fix a problem in an isolated way which doesn’t work. The process may not be broken; it may be the people, so you need a holistic approach. I wrote the first book in 2012 to complete my initial business strategy and a book does that. I was advised by a couple of authors and self-published it. I needed to promote the business alignment method and the book helps clarify the model as well as promote the business. I asked clients what is perfect length for a book and they said a Chicago to Los Angeles flight, which is about 4 ½ hours.
Alan: You’ve actually published multiple books. How did you come with your ideas?
Rick: The second book was to help the individual leader and the third book was for the entrepreneurs. I write books that apply to the business areas I work in.
Alan: How do you find the time to write?
Rick: The secret to success is having a coach. I’ve had 3 accountability coaches so far and each one helped me in a different way. When I first started the business, I needed an accountability coach; someone that would keep me accountable and keep me encouraged. She was the type of person I needed at that time. Keep in mind, I was starting this business during the depths of the Great Recession and needed that support. The second coach helped me write the books, not from the standpoint that he had ideas for the book, but he was able to get me moving along on the development of the book. I actually wrote the first book while my wife was driving during vacation because I was on a self-imposed deadline and needed to get it done. The third coach has helped me grow the business and take it took another level. If I would have had her in the beginning, it would not have worked well. Now that the business is growing and I am at a different place in my thinking and my business, she is exactly what I need.
Alan: Any final thoughts?
Rick: I talked with 20 different coaches before starting out in leadership coaching and based on my research, billions of dollars is wasted on leadership that doesn’t work. I am on a crusade to change that one leader at a time. It will take time to undo the wrong things that leaders are doing today; takes time to unlearn. But I will continue to work with them, one leader at a time. It is my passion.
Windshield Wipers and Fluid – Fog, snow and rain will cut down your visibility in winter, causing you to use your wiper blades and washer fluid much more than normal. An antifreeze solution along with winter wiper blades will help to fight ice build-up. Keeping extra windshield washer solvent on hand is helpful too!
Battery – A thorough inspection of your battery, cables, terminals and fluid will help to make sure your car is ready for winter. The cold weather puts more stress on your battery. Many automotive parts stores will test your battery capacity free of charge.
Inspect Your Tires – If you’re not mounting winter tires on your vehicle, be sure to examine your current tires for remaining tread life, uneven wearing and cupping as well as checking the sidewalls for cuts and nicks to help you to know if your tires are ready for the harsh weather. The colder weather will also reduce the pressure within your tires, causing them to perform poorly in the snow. You should frequently check your tire pressures.
Coolant – Along with regulating the engine temperature, a vehicle’s coolant system is responsible for protecting your engine against corrosion. For the winter season you will want to make sure that you are using the right ratio of coolant to water in your system as well as using the right type of coolant for your car. If you are unsure, you can check the effectiveness of your coolant with a simple and inexpensive test found at any car parts store.
Ice scraper – Keep your ice scraper in your vehicle and always clean off your car completely, not just a little peephole in the windshield. You must be able to see all your surroundings, your side mirrors and through your back window. Snow on top of your car could slide down and cover your windshield while you are slowing down or fly off onto someone else’s vehicle while you are driving. In some states it is the law that your vehicle is clear of snow and ice.
Survival Kit – Especially during times of slick road conditions and below freezing temperatures, you will want to keep a survival kit in the car at all times in case of emergency. Some items to consider include extra gloves, boots and blankets, flares, tire chains, a flashlight and extra batteries, car charger or portable cellphone charger, and a whistle. Also check your spare tire and make sure that your car jack is in good, working condition.
Keep Your Gas Tank Above Half – If you get stuck or stranded, the car’s engine will be your only source of heat and you will want to be sure you have enough fuel to keep you warm. In some cases, it may be necessary to remove snow from behind the tailpipe and keep it unobstructed to prevent lethal gas from accumulating in the vehicle.
If a Florida vacation is in your future, then find out if you’re eligible for these travel discounts in the Sunshine State. Although they are relatively easy to get, if you don’t know how or where to apply for them, you’ll totally miss out on some hefty savings.
Save at the Toll Booth
First and foremost, if you have a significant dexterity disability, you may be eligible for a free pass when it comes to Florida’s toll roads. The Disabled Toll Permit saves drivers both time and money; and although it’s often overlooked by visitors, it’s easy to obtain if you meet the minimum qualifications.
In order to qualify for a Disabled Toll Permit you must have:
A valid driver’s license
An upper limb or dexterity disability that prevents you from tossing coins into a toll booth basket
An adapted vehicle
The permit is valid for five years, and it can be used at manned toll booths throughout the state. Just show the toll booth operator your permit, and you’re good to go. For more information about the Disabled Toll Permit, call (800) 983-2435.
Once you receive your Disabled Toll Permit, you can also apply for a Sun Pass non-revenue mini transponder. There is a $4.95 fee for this electronic device that attaches to the windshield, and allows users to pass through unmanned toll booths at no charge.
For more information about a Sun Pass non-revenue mini transponder, call the Florida Commission for the Transportation Disadvantaged at (561) 488-5344.
State Park Savings
Additionally, veterans with a service-connected disability can receive a free military entrance pass, good for admission to all Florida State Parks. This lifetime pass is valid for park admission of up to eight people, except at Ellie Schiller Homosassa Springs Wildlife and Weeki Wachee Springs parks, where it’s good for up to two people.
Proof of identification, service-connected disability and honorable discharge are required. Acceptable documentation includes:
Valid driver’s license.
Documentation from Department of Defense or another appropriate agency of service-connected disability.
DD Form 214 showing honorable discharge.
The military entrance pass can only be obtained in person at any Florida State Park. Surviving Spouses and parents of US military members who have died in combat are also eligible for this pass.
Honorably discharged veterans can also receive a 25% discount on individual or family passes. These passes, which are valid for one year, are good for admission to all parks. A valid driver’s license and a DD Form 214 are required to get the discount; and like the military entrance pass, it can only be obtained in person.
And if you don’t qualify for either of those passes, but you plan to visit a number of Florida State Parks, you can still save some money by purchasing an individual or family annual pass. These passes are good for one year and they can be purchased at any state park entrance. The individual pass is priced at $60, while the family pass costs $120.
So plan ahead, bring your documentation, and rack up some savings on your next Florida vacation.
Marketing a business is undoubtedly one of the most daunting tasks for any new entrepreneur. It’s one thing is to establish a business, but it is another thing to promote it. There are so many businesses, created by passionate people, that eventually collapse due to one reason – a lack of sales.
The purpose of any business is to sell something; either tangible or intangible. Tangible products are your tradition retail type of stores. Intangible products tend to be more service oriented. It is possible to have a combination business (such as painting; carpet installers, etc.). However, every entrepreneur is faced with the same problem of making their business known to the public in order to attract as many customers as possible.
There are many ways of promoting a business. The way you promote your business will basically depend on the type of industry your business belongs to. What works perfectly well for one business may not work for another type of business. Therefore, discretion is advised in adopting any of the steps listed below in promoting your own business:
1. Create a Website: Setting up a website is the surest way to make your business known by your potential customers. The first thing people do when trying to find out about your company is to search for it on Google. Your website has a way of creating a particular perception about your business. The more professional your website looks, the more professional your business will be perceived. The logical corollary is that you should link your social media channels back to your website.
It is not enough to just create a website, it is vitally important that you optimize your website by submitting it to major search engines like Google, Bing and Yahoo. This will enable your website to come up on those search engines whenever potential customers are searching for a product or service you offer.
2. Local Advertising: A business needs to be advertised to the people in the immediate area. A business owner may choose to advertise using billboards, posters, handbills, or any other affordable form of advertising. A company with a good budget may advertise with local newspapers, magazines, television and radio stations to attract a very large audience. Of course, this depends on the type of business you are in. An online only business might not want to try advertising on some of these outlets.
3. Conduct Social Media Campaigns: Advertising via social media is the cheapest and easiest way to reach out to your customers. Using Facebook, Twitter, Pinterest, Instagram, LinkedIn, etc. is free or relatively cheap. You have the ability to reach a larger audience than you could reach with local advertising.
There are over one billion active users on social media. Tapping into this huge resource will give you a greater chance of connecting with more people and introducing your business to them.
4. Email Marketing: Another good way of taking your business directly to your customers is by sending emails to your current or past customers anytime you have a new product. This is not a difficult task. You can do this by requesting for email addresses on your website or invoices. You can encourage your website visitors to give you their email address in exchange for a gift available for instant download to their email inbox.
5. Send another offer to customers immediately after a purchase: When a customer buys from you, introduce them to another product/service you offer. This is a great way of marketing your products to customers. Customers who buy your products have proven that they are able to pay for your products/services and that they have a level of trust with you. You should seize the opportunity to introduce other items or services you offer to them. Even though they may not buy right then, at least they know you are offering that service or item as well.
6. Ask your customers for referrals! You would be surprised at how quickly my business grew when I implemented a system of asking for referrals! I literally doubled my income in a matter of months. I also kept my schedule full of new appointments! Referrals could grow your business (online or traditional) exponentially! Think about it like this: It takes you (for example) 1000 leads to get ONE subscriber or appointment. Let’s assume you close 1 out of 3 subscribers or appointments and make them into customers. So it takes you 3000 leads to get ONE customer. If each customer provides you with three referrals, and the same ratio holds true (which it should double because your customers are not going to send you to people to make them mad – they will send you to people they know need your services), now each one of those purchased leads results in TWO sales! Then you ask that customer for three referrals – and the cycle keeps going.
These are just some of the ways in which I have built my business. Some of these techniques may not work in your business niche. If any of them do apply and you are not currently trying these ideas – give them a try! The results could, literally, catapult your business to the next level!
If you have made up your mind and you are 100% certain about starting a home business, then you might have in mind what product or service you want to market. You should also know that for the first two years you will be devoted to making your business grow. If you are willing to take a huge risk such as this, you will need to be motivated, determined and confident. There are numerous obstacles that you could run into if you don’t take the necessary precautions.
To work your way through the start-up of your business you will need to take the following steps
SWOT analysis (Strengths, Weaknesses, Opportunities and Threats). By knowing and using this method, you will be aware of what competition you are facing, where your business can grow, and you will get a better understanding of the business market.
Form a business plan. Forming a business plan can be overwhelming and slightly confusing. A business plan should include the audience that will be looking at your plan, an outline of the business plan, a collection of research and data, a general abstract of the market, an inquiry profile, finances, and finally the executive summary.
Funds for the business startup. Do you have the resources needed to start the business or do you need to find the money or money lender?
Naming your business. What will be the name of your business? This is a crucial and significantly important element.
Electing your business structure. Sometimes people get confused due to the business types. You will need to elect the right business partners. The choice you make will cause an impact on your business.
The license and permit. This entails registering your business, you might also need a business identification number, and may also include other tax licenses and zoning permits.
The location. This step also entails many minor tasks such as finding the right location for your business, buying office supplies and equipment and designing your business place.
The insurance. You are responsible for any risks associated to your business. Getting a business insurance will protect your office of any disasters or litigations that could occur.
Lastly, create an accounting system. Many individuals that want to start their own business tend to fail because they get caught up with location and buying supplies and other details that they forget to keep an account of money going in and out. A good option would be to hire a professional accountant that will keep track of the businesses finances.
Cash is the lifeblood of a business. No business owner wants to see their business struggling because of lack of funds or in debt due to mismanaged finances. What they want to see is a regular flow of profit but this is easier said than done.
With many years of experience as chartered accountants and business experts, we’ve seen many financial mistakes that business owners make. Here are some of the most common mistakes and how to avoid them:
Not having a business plan including clear financial goals
Business planning is very important. If you want to be successful in your business, you need a roadmap. It is also important to set clear goals and targets. In particular, you need to have financial goals that will help you measure how well your business is doing. Furthermore, your financial goal should be clear and realistic. Goals should be phased – weekly, monthly, quarterly or yearly. You also need to involve your whole organisation in your business strategy. Give your team goals to aim for.
With these plans and goals in place, you will have a clear view of how your business is performing which will eventually help you make important financial and growth-management decisions.
Not keeping proper financial records
This is one of the most common mistakes of business owners and also the most crucial. Most business owners are so busy focusing on managing their business that they neglect the importance of financial record keeping. If you don’t have time to update your financial records, hire an expert to do it for you, such as a Chartered Accountant. They can set you up with proper systems and help process your transactions accurately.
Combining business capital and personal finances
Some business owners, especially those who are struggling with their business capital or finances tend to merge their personal savings with the business. Business owners should avoid doing this, as it will only make it more difficult to track how much money the business is making. Also, it complicates IRD and tax obligations.
Starting too big
Starting a business can be overwhelming. You put everything in that you have before you actually start. You may rent an office or other space and hire employees thinking about the future. You want to start big. But you have to understand that starting big doesn’t necessarily ensure your future success. It may put undue pressure on you and your business. The best thing to do is to start small and once your business becomes financially stable, you may then consider expanding. Make sure that your expansion can be justified by your profits.
Not having an expert to assist you with your finances
Accounting, bookkeeping and tax compliance – these are just some of the financial responsibilities that you need to take care of when you start a business. These are critical and timely business processes. But some business owners are so busy managing their business that they often neglect these. You don’t have to stress yourself in thinking and doing everything. You can hire experts to do it for you.
Some business owners are hesitant to hire experts to do these things for them and only realise they need help when it is too late. So hire a trusted Chartered Accountant to help you with your finances so you can focus on your business, as well as having more time to relax.
These are just some of the common financial mistakes that business owners make. Make sure to avoid these financial horrors to ensure the success of your venture.