Ok, you say, I know I need a budget, but how do I prepare one? The most common budget period is one year, but this can vary depending on whether or not your business has seasonal or cyclical fluctuations. For example if you run a Christmas decorations shop, or a costume shop your business is going to peak during certain times of the year. The budgeting process usually begins with the collection of accounting data. In order to prepare a strong and...more
For those of you who were not psychology majors the "psyche" is someone's mind. What motivates them. What are they thinking. How can you better understand them. All of which is important to those of us in lease purchasing. In fact, it is important to any business person. The ability to know what motivates your customer, how your customer thinks, and tapping into their "psyche" is what makes some businesses successful and why others fail. For...more
Got a huge need for publicity and a tiny publicity budget? You don't need to have a Madison Avenue-sized advertising budget to make your name known. Here are five ideas to help you promote your company:1. Write a column. Go to a local paper, no matter how small, and offer to write a column on your area of expertise or on business in general. Don't ask to be paid for it, and promise not to promote your company. You won't need toyour byline, words (and maybe even photograph) will do that.2. Speak up. Make yourself available to talk to every civic, business and educational group that will have you. Stress your expertise, and, as with the column, never try to sell anythingexcept your reputation as a knowledgeable, trustworthy professional.3. Write notes. Include a one- or two-line personal message with every piece of literature you send out. You can even write it on the material. This tactic helps customers see the person behind the company.4. Be a joiner. Get involved in trade associations. You may spend a lot of time with competitors, but it's a way to let people know you're out there, and it will offer you opportunities to sell. In addition, be sure to join networking groups,...more
Are you ever frustrated or hesitant when you talk to prospective customers because you can't readily explain why they should come to you rather than go to your competitors? Sure, you might have your 30-second elevator speech, but then they ask you that dreaded question, "So what makes you different?" Then, all those self-doubts creep in, and you...more
What is a portfolio and do I really need one? A portfolio is simply a group of investments held by an investor. It's a very carefully chosen selection of businesses and generally, yes; it's a good idea to have one. Let look at it this way. Imagine that you owned an umbrella shop. If it didn't rain for several weeks, you would make no sales at all...more
If you don't have much Blackjack experience, it can be daunting stepping up to the tables for a game. You can, however, hide the fact of your inexperience very simply by remembering these straightforward rules. (Note - the rules of BlackJack will differ from area to area and from casino to casino, but the general principles are the same. When in doubt, ask!). A typical BlackJack table seats a dealer and up to 7 players. Starting with the dealer, the first seat on his left is '1st Base', while the first seat on his right is referred to as 3rd Base. In front of each player's seat is a betting square, printed on the felt. Right in front of the dealer is the chip tray, while on his left is the deck (a.k.a. shoe) and next to that is the' minimum bet sign', which tells you how 'expensive' the table is. As a beginner, you will want to stick to the low bet tables to keep any losses under control. On the dealer's right is a money drop slot. This is a security feature - casinos don't really trust their employees, and all cash and chips are deposited here to prevent 'leakage'. Next to the drop slot is what's known as the 'discard tray'. Play starts after the dealer shuffles the cards, the...more
Investing in the stock market is not purchasing a stock at 25 dollars a share, hoping it will go to 35 so you can sell it, then hoping it will drop back to 25 so you can buy it back, so that you can sell it again at 35, and so on and so forth. In my...more
Part One in a Five Part SeriesImagine what a professional football team would be like without a regimen of practice drills? Now take away their playbook and player statistics. What you have in this extreme scenario are highly talented (and perhaps...more
No more working for the same company for fifty years. Freelance work is becoming more and more prominent. On-line you can find work or someone to do a job. Check out www.guru.comThe world sure is changing, and if you look at job employment you will...more
One of the first lessons that "Rich Dad, Poor Dad" teaches is about understanding and controlling fear and greed. Many people go to work and work hard not to learn more and to grow, but out of fear that they won't have enough money to pay their...more
Public relations changes minds in the process of delivering what business, non-profit and association managers need more than almost anything else - the kind of key stakeholder behavior change that leads directly to achieving their managerial...more
Thinking of starting your own online business? Or, have you tried a business before and it never got off the ground?Last October I was looking on the Internet for ideas about getting rid of unpleasant odors from the house when I stumbled onto SFI...more