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.

So why do these business owners sell? The short answer is that most closely held businesses sell for human reasons, such as burn out, retirement, illness, partnership disputes, family issues or other personal reasons. Usually the business is fine but the human being running the business needs a change. To understand this better it is key to understand the other options for exiting a business.

Close the Business/Liquidation

Closing a business that is profitable never makes sense. Even if the assets are liquidated the price is likely to be pennies on the dollar versus selling the business as a going concern with employees, customers and a reputation that is intact. Not only does the business owner get the lowest value but the employees, vendors and customers are hurt by this type of exit.

Accident, Illness or Death

No one wants to exit their business this way, but many do. The loss of an owner not only creates tremendous issues for the family but also creates a leadership void in the business. Even the most competent management can struggle when a key business leader is lost to a serious accident, illness or death. No one plans for this type of exit but many end up exiting the business this way because they failed to create an alternate plan.

Succession

Succession by a family member or key employee has its benefits. They know the business, its product or service, employees, customers and vendors. Succession can be operationally successful for the exiting owner if they make sure the successor is carefully selected, qualified and groomed for the position. The owner must be careful not to make an emotional choice of a relative or favorite employee but instead choose the successor with the right skills to lead the company into the future. You are not seeking an “Employee” mentality but an “Owner” mentality. If that rare person can be found in the business who can make the transition to Owner, they often do not have the cash needed to purchase the business. They are also likely to want to pay less for the business as familiarity will blind them to many of the value drivers of the company. So although succession can be operationally successful it is rarely a financial success for the outgoing owner.

Sell

Closing or liquidating the business minimizes the value to the owner. Accident, illness or death forces the issue on the owner. Succession provided a very limited pool of options with limited financial reward.

Selling on the other hand allows the business owner to decide their ideal timing, maximize the value of the business they worked so hard to build, coordinate the use of the sale proceeds for financial planning and align their personal goals with the sale of a business. Selling the business allows the business owner to create a wealth event and often significant on-going passive income without having to run their business.

Whatever they are, human reasons are always pushing and pulling on a business owner. Burn out, stress, divorce, illness, partner disputes and limited growth capital are some of the human reasons that push owners out of the business. Retirement, enjoying life, relocating, a new business opportunity and passive income are some of the reasons that pull a business owner out. Whatever the motivation, the fundamental reason a business owner chooses a sale as their ideal exit plan is control. The business owner chooses to understand the value of their business and to proactively pursue the right buyer and the right price. By selling a business you choose to exit your business by choice, not by force.

The professional team at Sunbelt Midwest can help you confidentially sell or buy a business in Minneapolis, Milwaukee, Chicago, and surrounding areas. For more information check out our site at http://www.sunbeltmidwest.com.

You don’t have to fit all seven of these categories to be a good candidate for entrepreneurship. But it probably wouldn’t hurt. In general, the more you have in common with these characteristics, the closer you probably are to being ready to try going out on your own.

1. You come from a line of people who couldn’t work for someone else. I don’t mean that in a negative way. People who are successful at establishing their own business tend to have had parents who worked for themselves. It’s usually easier to get a job with a company than to start your own business; people who strike out on their own often have the direct example of a parent to look to.

2.You’re a lousy employee. No need to sugar-coat this one. People who start their own businesses tend to have been fired from or quit more than one job. I’m not saying you were laid off for lack of work or moved from one job to a better-paying one. You were asked to leave, or you quit before they could fire you. Think of it as the marketplace telling you that the only person who can effectively motivate and manage you is yourself.

3.You see more than one definition of “job security.” I am truly envious of the few people I know who have stayed with one employer for 25 or 30 years. They look very secure. But how many people do you know who are able to stay with one company for that long? In a rapidly changing economy, job security can be frighteningly fleeting.

4. You’ve gone as far as you can go, or you’re not going anywhere at all. Sometimes the motivation to start a new venture comes from having reached the top of the pile where you are, looking around, and saying, “What’s next?” Early success can be wonderful, but early retirement can sometimes drive energetic and motivated people totally crazy.

5. You’ve done the market research already. Don’t even talk to me about your great business idea if you haven’t put the time into figuring out if there’s a market for your product or service. As the people behind any number of failed Internet ventures will tell you, “cool” doesn’t necessarily translate into “profitable.” Don’t bother building it if you haven’t figured out whether there’s a good chance the customers will come.

6. You’ve got the support of your family. Starting a business is stressful under the best of circumstances. Trying to do it without the support of your spouse or other significant family members or friends would probably be unbearable.

7. You know you cannot do it alone. You might excel at promoting a business. Maybe you love running the financial end of the enterprise. You could be someone who starts a business because you have unique creative or technical know-how to create a product.

Any of the above is possible, but it’s unlikely that you are going to excel at all of these tasks — or at all of the tasks involved in running any business. Forget all that doing it alone stuff. You are going to need some help sometime.

The willingness to get that help — having employees, partners or consultants for those areas in which you are not an expert — is one indicator of likely future success. “No successful entrepreneur has ever succeeded alone,” development consultant Ernesto Sirolli writes in “Ripples From the Zambezi.” “The person who is most capable of enlisting the support of others is the most likely to succeed.”

With greater competition comes the greater demand for advertising. When you get into a market that is already filled with a lot of businesses like you, you should do a lot of marketing to put your business in the front. Likewise, when you enter a market in which you stand alone you should still advertise to let your prospects know that you are ready to meet their needs.

If you intend to use brochures to advertise your products or services, you have to make sure that they effectively present what you have to offer. It should not be so fierce and aggressive but it should be neat and simple yet stunning and pleasing to look at. Although having a flashy, outrageous and very costly brochure is declining for smaller business, large and expensive companies continue to get more elaborate, bigger and more costly brochures.

The brochure should speak to your audience when you are not there. Are they able to send a clear message to the reader? Are they conveying a professional image? Are they prompting a call to action or encouraging a reader to call for more information? If done right, your brochure can be a great investment for your company. If your business card is important as it introduces yourself to your potential customer, your brochure introduces the entire company. Oftentimes, it is your brochure that the customer comes in contact with before calling your company. Thus, it is exceedingly important that your brochure is able to make a great impression for your business. Keep in mind though that if you start creating your brochures, do it right. Do not do it half-heartedly and do not stop before the battle is half-fought.

Remember that every company strives for customer satisfaction, efficiency and increased profitability. And the business that has the right advertising materials has a certain edge – the products seem better, the people brighter and the service more impressive. So if you want to revolutionize the way you do business, create advertising materials that can give you a good image and market your business even if you are not there.

Team Double-Click’s recent unveiling of the company’s easy-to-navigate website offers a self-administered quiz entitled, “Fast Quiz: Do I need a virtual assistant?”  Within five minutes, future clients can determine whether internet-based professionals, who provide virtual administrative, marketing and sales support, can indeed contribute to an entrepreneur’s emerging or existing business plan.

Answering a series of nine thought-provoking questions; one for example, “How often do you work additional hours in the evenings or on weekends just to stay on top of administrative tasks?” business owners select one multiple choice answer; each assigned an individual point value.  Upon completion of all nine questions the allotted points are tallied to determine if a virtual assistant can or cannot be a useful team member to assist in the growth of a future client’s particular business. If determined that a virtual assistant is needed, the quiz further clarifies a recommended number of hours an assistant can be contracted to relieve a business owner of any routine responsibilities, project work and/or on-going; albeit important, time-consuming tasks.

Another challenging quiz question presented on the website is, “Do your phones go unanswered because you are often out of the office or busy on another line?” This particular question frequently leaves the small business owner wondering how much revenue is truly lost when potentially important telephone calls remain unanswered.

Additionally, Team Double-Click’s all-inclusive website offers a myriad of other customized virtual office assistant solutions for the entrepreneur.  Targeting small business owners, real estate brokers, investors, and agents, visitors to the site can view a task list that a contracted virtual assistant can accomplish in their specified industry.

In a 2006 interview with Kendra Todd, winner of NBC’s “The Apprentice Season 3”, hosted by Gayle Buske, Todd was asked to explain how she eventually determined that Team Double-ClickSM virtual assistants would add value to her rising real estate empire. Todd explained that as her business grew, a business partner eventually approached her and said, “Kendra, you can’t do it all, and you need a virtual assistant”.  Todd added, “I have a very large database with lots of people – a couple thousand people in my database.  It is important for any successful business owner to keep in touch with their clients, and email and ezines are a wonderful way to do that.”  Todd continued, “It’s hard to pick up a phone and call several thousand people and say, ‘Hello, how are you doing?’ but there are some wonderful virtual ways in which to have an intimate relationship with your customers, and so that was one of the reasons why I really needed to get a virtual assistant.”

Todd has built her real estate team based on the premise that she, “…just want[s] the best people at what they do, regardless of where they are [virtually].” Business owners and entrepreneurs can now determine within a few minutes if a virtual assistant can be a viable addition to a client’s organization and, if so, through the use of Team Double-Click’s virtual staffing solutions website customized tools are available to effortlessly assemble a dynamic virtual team.

No budget Marketing Ideas

Coming up with an aggressive marketing plan takes a lot of creative thinking and innovation and money. If you are looking to expand your audience or start up a new business but don’t have the high budgets to compete with the high rollers, there are still many ways and things you need to do to get yourself exposure.

Number 1- Your website -Your website needs to be loaded with information and words that best describe your services, and what you offer. Being innovative in your word usage is extremely important. Think of how people search for you, what would they be typing into the search box, every word you can think of should be used in your website somehow, if you thought about it, they will too. Don’t forget your Meta tags; reiterate some of your words and phrases, as well as their synonyms. There are places you can go to to get a FREE website and FREE hosting, and very easy to design your own site. Feel free to contact me, if you can’t find a good one.

Number 2- Social networking sites – Social networking sites are a FREE and wonderful way to promote your business as well as offer promotions to clients directly in your target areas. Make sure you are signed up to Facebook, Stumble upon, Linked In, Delicious, Twitter and any site that will allow for a FREE profile and listing of your products and services. There are many out there today that will allow for a Free profile listing. Just do a search; you’d be surprised how many you find.

Number 3 – Blogs, blogs and more blogs- If you currently have a blog directly from your site that’s great, but it doesn’t end there. Make sure you also have a blog on blogger, on WordPress and on any free blogging portal you can find. Speak about your products, promotions, services. And make sure you are regularly updating with fresh information.

Number 4- Write articles -Be known as an expert in your field- There are sites that allow for you to write articles about yourself, your business or topics you want to discuss. Some sites are Digg and Reddit. These sites allow for you to share some ideas, thoughts and information about your products and services. One thing is very key, you must participate in these sites and not look to constantly just promote yourself or you might be thought of as a spammer. So make sure you “Digg” other articles or no-one will ever get to really Digg you, because you won’t be lasting very long.

More get listed:
Create a Free yellow pages listing, post a Craigslist ad for your services and make sure you submit your URLs to the major search engines and Send out press releases.

There are many ways to market your business for Free. The most important thing to remember is to make sure you are not just posting a profile and walking away. It is important that you participate in these social networking sites, develop friends, and become part of your community. You can reach a wider audience, the more sites you are involved in. Make sure you constantly update your blogs and communicate with others and what they are doing. Initially, managing social networking sites and blogs can be a job on its own. But once you have them set up, you simply need to dedicate about an hour or so adding new content. If you’re not a writer, hire one. Feel free to contact me through here and I would be happy to help.

storres954@yahoo.com ]]> http://pitsmoezen.com/2010/02/free-marketing-for-your-business/feed/ 0 http://pitsmoezen.com/2010/01/advertising-yourself/ http://pitsmoezen.com/2010/01/advertising-yourself/#comments Wed, 27 Jan 2010 21:03:34 +0000 admin http://pitsmoezen.com/?p=467

America has been known as the land of opportunities. Immigrants from all over the world dream of the day they step foot on US soil. They vision a better life for them and their family. Years of being told that here in America opportunities await you just around the corner all you have to do is look for them.

Americans have the privilege to live in a country that encourages its citizens to venture out and take hold of their dreams and make them a reality. For many Americans this dream is to own their own company and strike it rich. With a bit of determination, hard work and a plan this dream can become a reality if you play it smart and learn the importance of good advertising.

What’s it Worth?

Every year multimillion dollar companies spend millions and at times even billions of dollars on advertising. Why? Easy! To make more money. They do this by getting the word out that they exist and can offer its consumers ease and practicality to their everyday life. The crazy thing is we actually buy into it and before we realize it we are out the door rushing to be the first in line.

Good advertising and attractive packaging goes a long way in the field of marketing. A savvy business man knows how to appeal to his intended market and displays his product where it can be easily seen.

Pick Your Market

Target a group to market and then set out to discover what might draw that particular group to your product and entice them to buy it. Children are always a good group to zone in on. They are easily amused, observant, and persistent. When a child sees an item that interest them they can’t seem to think about anything else. They analyze the item until they have every detail memorized and are then able to conjure up creative and inventive ways of describing that particular item to their parents in a way that is so attractive that it would put even the best of advertising teams to shame.

Parents are constantly being negotiated into purchasing items for their children by the children themselves. Your job then becomes fun as you think of fun and creative ways on how your company’s product can leave a lasting impression on its targeted group.

Leave an Impression

First Impressions are lasting impressions. Face it, anytime a child sees that red headed clown approaching wearing a yellow pant suit their eyes bug out of their head and all of a sudden their mouth is watering for a taste of a juicy cheeseburger from McDonalds. Now visualize your own product causing the same reaction. Ok, maybe your product will not have them drooling at the mouth but rather laughing with excitement.

Whatever the product might be promoting it in a fun, stylish and unique way is going to attract the eyes of young ones. And what better way to leave a lasting impression is to promote your company or product in the form of a temporary tattoo? Children love them and they provide a fun creative way for children to be walking billboards for your company.