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April 26, 2010

10 Marketing Tips For Entrepreneurs    Author: Admin

Posted in Entrepreneur | |

Nothing happens in business until a sale is made. Marketing is simply about getting new customers and keeping them. If youre not doing something everyday to market and promote your business, your competitors are. Here are ten easy-to-implement tips to effectively market and grow your business:

1. Partner with large email database list owners and offer to cross promote each oher. The list owner will advertise your event, product, or service to their email database and youll offer to do the same to your list.

2. Create your own blog which is an online journal with frequently updated posts to entertain and excite existing and potential customers. Its more personal and immediate then a website and keeps people engaged and hopefully coming back for more. You can even create one for free at http:www.blogger.com.

3. If you want to increase word-of-mouth fast, do something beyond normal industry expectations. For example, Mr. Lube offers fast and affordable tune-up service to customers right on the spot, without having to leave the car, while offering coffee, cappuccino, and a fresh newspaper.

4. Always ask happy clients for endorsements or testimonials and put them on your website and other marketing collateral. Theyre worth their weight in gold. Try to get some recognizable names in your community for additional cachet.

5. Put a special offer or product advertorial on every invoice and statement you send out. Likewise, you can also negotiate a deal with another company to advertise your product or service on all their invoices for a percentage of revenues from placed orders.

6. Make your business cards stand out and be natural keepers. Offer important information on the back such as emergency phone numbers, a map, or special dates to remember. Have a slogan that offers a powerful benefit statement to your prospective customer.

7. Offer special bonus packages with your product or service offering. Get corporate sponsors to give away products as part of the bonus package in exchange for free exposure.

8. Align your business with a cause or charity. Give back to your community. Customers appreciate doing business with companies that are bettering their communities and the environment and being good corporate citizens.

9. Find an angle that makes your work controversial. The banning of Mark Twain’s “The Adventures of Huckleberry Finn, reviewed as “trashy and vicious,” was a blessing in disguise. Twain made a poster advertising the ban, which significantly increased sales.

10. Post frequently in online message boardsforums relevant to your business or expertise. Include your signature and offer tips and valuable advice. Eventually you will begin gaining word-of-mouth exposure as a leader in your field. Posting messages with your company information also helps to increase your search engine rankings and drive traffic to your site.

[Excerpted from Sharif Khans new ebooklet: "101 Ways to Market Your Business," http:tinyurl.comm2nsf ].

Posted in Small Business | |

For most folks, owning your own business is a dream come true. The freedom of being your own boss and succeeding to the best of your ability are facts of life for the small business owner. Sure, there’s more stress than what you probably imagined when you were creating your grand plans, but with a little strategy and planning you can overcome any tough spot you get in. There are 7 tactics developed by successful marketers that are sure to make your business as successful as theirs.

1. Create A One of a Kind Selling Point
If you want to stand out from the crowd, create a unique selling proposition that stresses the benefits the customers will receive from doing business with you. Will they get faster service? Go ahead and dramatize it, but keep the customer at the focus…”Get free overnight delivery!” Hey, it tells the customer…you get quick service and a discount on shipping. Two definite benefits in one statement.

Why should someone buy from you and not your competitor? I hate to deal a blow to your ego, but it really has nothing to do with you , your product, or your service. Yeah, its a little self-centered, but customers are attracted by offers that point out the things that benefit THEM.

Don’t go out on a limb to create new products and services to get attention. Just, add a special benefit to the ones you already have… maybe it’s quicker service. The most effective things to emphasize are benefits that your competition cannot or is not willing to give.

2. Use Testimonials
Hey, we all know that business owners think their product or services are the best thing going, but it’s what the current customers think about it that really matters to your prospective customers. They’re the ones who see things from their point of view… what they have to say about the business has an impact.

Testimonials play an important part in advertising – especially for small businesses. Yeah, big businesses with well-known names don’t have to worry about it, but small companies can use testimonials as marketing tools to build credibility.

Think about it…how else can we gain credibility than by creating a group of satisfied customers and shouting what they have to say? Let’s look at some ways we can make testimonials an effective part of our marketing campaigns.

3. Upsell
Upselling is one of the most successful marketing trends today. Everywhere you go, someone is trying to get you to buy more. From McDonalds with its supersize options to clothing stores that try to sell you shoes to match your outfit, everyone’s jumping on the band wagon. Why? It works!

Your customers already know that you have great products and provide satisfactory service. They trust you to come through for them. Think about it… it’s much easier to make sales to someone you already have a relationship with.

Use every opportunity to increase your sales volume within the customer audience you already have. Do you have a product that goes with the one they are purchasing? Offer it to them at the register. It’s a proven and effective method for increasing sales. You may be shocked at the additional sales you can generate from those who are already buying from you.

4. Make Your Price Seem Smaller
Divide and conquer… The old war tactic works in marketing too! When the price seems too steep, break it down into “buyable” size bites. An 120 item is only 12 low monthly payments of 10. A 365 purchase would only cost 1 per day. Now that sounds affordable!

5. Paint The Benefits Pretty
Customers buy because they want to enjoy the benefits of the purchase. A lady might buy a dress because she wants to feel sexy, or a man will buy a book because he finds pleasure in reading. Emotions are the key element that drives purchases.

Use word pictures to stir up the emotions that will instigate the sale. Let them “feel” the benefits, and they’ll be more apt to head for the cash register. Put them where you want them.

6. Create Attention Getting Headlines
Are you ready to capture your reader’s attention with great copy? The headline is the place to start. How often do you scan the newspaper’s headlines before you decide whether or not to read the article? Yeah, that’s where we lose or gain the reader’s interest, so it’s a pretty important part of the advertisement.

A good headline should telegraph its message in twelve words or less. Double check those headlines. Do they make a promise of a positive benefit, or ask a provocative question? Don’t settle for less than attention grabbing statements.

7. Provide An Offer They Can’t Resist
Is your deal too good to pass up? If not, you need to improve it. Hey, I’m not talking about cutting prices even more…you’ve still got to make a profit. You can make the deal sweeter just by increasing the readers knowledge of the value of the product, or adding bonuses that are perceived as valuable, but cost you little.

Motivate buyers with expirations. Yeah, an open ended offer encourages procrastination…which leads …yep, nowhere. When the customer knows he has until Saturday to purchase an item he’ll pay more for on Sunday, he’ll make it a priority to head for your shop.

Posted in Small Business | |

10 Ways To Reduce Tax Burden For Your Small Business

An ideal lawyer will not just have a string of impressive credentials or gold lettering on his door. He or she will be caring, concerned, and devoted to their work. You need to think carefully before laying your trust in a lawyer after all in some cases your life, future, money or property will be in his hands.

Apart from doing extensive research to short list possible lawyers you must ensure that there is not conflict of interest, that you understand everything the retainer agreement states, and that you have checked the references and details regarding the practice.

You will know the lawyer you have chosen is the perfect one if:

1.He makes an effort to spend time to understand your case himself. He will not assign a legal assistant to take facts of the case down.

2.From experience and knowledge he will know what is relevant and what is not. He will set aside and ignore irrelevant facts, opinions, and personal emotions that cloud the case on hand.

3.He will insist that the footwork for the case be done thoroughly. All facts must be checked for accuracy and solid arguments jotted down with backing of earlier rulings.

4.He will not just focus on the problem at hand but examine the problem from all sides. This will create a complete picture highlighting all factors of relevance and the different ways one can approach the case.

5.He will use his foresight and anticipate moves by the opposition or opinions of the jury or judge and plan way ahead. Like a master chess player he will plan the case not by the day but by many hearings ahead.

6.He will not waste time beating around the bush or create verbose statementsmany words strung together which look impressive but mean nothing. He will insist that the case and its arguments be clearly stated.

7.He will be self-disciplined, thorough, and self confident. Courteous at all times he will respect you as well as all the staff who work for him.

8.He is recommended by not just his friends and relatives but by other professionals of good standing and from his field.

9.He will not just present to you his victories but be happy to tell you why and how he lost certain cases.

10.He will lay the cards on the table and tell you clearly whether your case stands to win or loose. He will not claim that winning is guaranteed. He will be honest and upfront about his opinions and advice.

The bottom line is that the lawyer must be worthy of your trust. Use your inborn instincts and dont go by the lawyers good looks or fancy car or office. After all it is competence in law and in court that is of essence to you.

Everyone worries about taxes and looks for ways and means of reducing the tax burden. When you have a small business of your own you must up date your knowledge of tax laws that pertain to small businesses. As a business owner you must understand clearly about accounting systems and tax planning. Sit down with your accountant and plan on ways of maintaining business expenses, filing receipts, planning on tax saving investments, and a strategy for running the business in the most beneficial way.

Did you know that:

1.According to law you can reduce your tax liability by hiring family members to carry out work in your business. Pay your children and spouse to perform assigned duties. This way you can shift from higher tax rates to lower ones.

2.Consider hiring independent contractors instead of employees. You will save on payroll taxes. However ensure that you meet the IRSs criteria.

3.Think about deferring income postpone receiving money to January instead of December. This means that payments received will be up for tax calculations a year away. However ask your accountants advice as the benefits are dependant on profit and losses for the year and your corporate legal structure.

4.Take advantage of tax deductions allowed for charitable donations. Make donations in November or December instead of January so that you can include the donations for tax deductions in the current year.

5.Maximize your expenditure on equipment and office supplies. Buy in advance for a quarter and use the tax deductions allowed in the current fiscal year.

6.Include expenses of business related travel in the current year.

7.Pay all bills due before the end of the year. Payment to cell services, rent, insurance, and utilities related to the business can be included for accounting and applicable tax waivers.

8.Plan a retirement plan and make payments before the end of the year. This will reduce your income for the year and proportionately the tax due. Be sure to check on the limits. Plan a feasible and beneficial strategy with your accountant.

9. Be sure to deduct from your taxable income money paid to licensing fees, businesses taxes, and annual memberships to businesses related organizations. Be sure to deduct interest paid on borrowings for running the business and related fees. Insurance premiums paid to insure the business office and machinery are eligible for tax deductions. Make a list of your memberships and check which ones are eligible for tax deductions.

10. Check whether you have deducted management and administration expenses as well as money spent on maintenance and repairs of equipment.

Decide whether a cash accounting system or accrual one will benefit your business. The tax deductions are different depending on the system you use. When setting up your small business take the advice of a tax and accounting professional as to which accounting system would be most suitable.

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