03.13.07
Posted in Uncategorized at 2:35 pm by Diana Heeb Bivona
You’ve started your business. Figured out what products or services you are going to offer and are ready for that first customer. So, where are they? In most cases, they aren’t forming a line just waiting for you to turn on the open sign to flood you with orders. You need to find them. How do you do that? You could consider:
Giving it away
No, its not a misprint. Offering your products or services for free to the first few customers is a good way to introduce yourself and your business. Sure, it may cost you some money, but it’s probably cheaper than several other types marketing activities.
Offering a discount or a coupon
Being the new kid on your block can sometimes work to your advantage. For example, offering an “grand opening” special where you offer a certain amount off or honor competitor coupons provides people with a cost-effective way to try you out and helps you build your customer base.
Permalink
03.12.07
Posted in Uncategorized at 7:17 pm by Diana Heeb Bivona
If your small business generates revenue from direct sales, you need a contract that sets the price, terms and conditions of each sale. Why? Because when you have an all-encompassing sales contract in place between your clients and yourself, you prevent possible future disputes from arising over payment terms, late penalties and other details that not only affect the sale but your future relationship with your client.
Sales contracts do not need to be elaborate, legalese-speaking documents that require a dictionary to interpret. It simply needs to address key elements in a straight forward manner. A strong sales contract will mention:
- Price – include any discounts, delivery or additional incidental charges that the client should be aware of when purchasing your producs or services.
- Price adjustments – will you offer some type of price adjustment for large orders or to clients who have remained loyal for some time?
- Taxes – Clearly state if the client is responsible for any sales tax.
- Payment and credit terms – Clearly state when payment is due. If you allow purchase on credit, spell out payment terms, including any discounts for early payments or finance charges for late payments.
- Warranties – If you offer any type of warranty provide detailed information on exactly what that warranty covers and for how long.
- Disclaimers – Include the following standard disclaimer in capital, boldface letters so that it stands out: “There are no other warranties, express or implied, including merchantability or fitness for a particular purpose.”
- Limited-liability claims – Try to create a sales contract that limits your liability. A common clause for liability states that the seller’s maximum amount of liability is equal to the purchase price. These clauses do not always hold in a court of law, but there is no harm in including a section that states you’re not responsible for consequential damages, punitive and speculative damages, or lost projects.
Permalink
03.09.07
Posted in Uncategorized at 4:33 pm by Diana Heeb Bivona
Going mobile is a trend that’s here to stay. A Market Intelligence Center survey found that the number of global mobile phone subscribers is expected to grow from two billion in 2005 to approximately 3.3 billion in 2010. A Korn/Ferry International survey also conducted in 2006 found that 81% of global executives say they are connected to work through mobile devices all of the time.
Do you find yourself on the road a lot with your business or away from your office? If you do, you know how important it is to remain mobile and to get your phone messages, emails, faxes, documents, etc. on a consistent basis. Wireless and mobile technogies not only allow us to keep on top of business, but to increase our efficiency and productivity. so, if you have hesitated to “go mobile” not knowing if the expense is worth it, it may be time to give it a second look and a little more research.
Permalink
03.08.07
Posted in Uncategorized at 3:10 pm by Diana Heeb Bivona
A primary expense of many small businesseses that have products to sell is shipping. Any small business that ships a lot can tell you that shipping costs can quickly add up. However, there are ways you can save on your shipping costs such as:
Shop around for the basics
Packing tape, bubble wrap, boxes and envelopes can eat up your budget. Shop around and look for deals. Don’t just look at the mainstream buying outlets such as office supply stores. Check out Ebay – you may find a supplier selling these items in bulk.
Plan Long Range
Review your shipping budget at least annually. At least once a year, the various carriers such as UPS and FedEx raise their rates or throw in a fuel charge or some other surcharge that hikes your overall expenses. Even the post office will be increasing their rates this summer. With a firm handle on what you are paying, you will be able to determine whether you need to switch carrier services or pass those charges on to your customers.
Consider Package Insurance
Unfortunately, our responsibility to the customer does not end when we put their order in the mail or send it by carrier. We are ultimately responsible for insuring the package gets there. In fact, the FTC requires that a package be delivered 30 days after payment is made, or the seller must refund the buyer’s money or request an extension on delivery. Merchandise that is lost or damaged in shipping can quickly add up when you calculate in having to reship an item or issue a refund. Shipping insurance buffers some of that loss.
Permalink
03.06.07
Posted in Uncategorized at 8:03 pm by Diana Heeb Bivona
It appears that more and more Americans are unhappy with their job. According to
The Conference Board, there has been a decline in job satisfaction over a period of two decades, with little to suggest a significant reversal in attitudes anytime soon. Less than half of all Americans are satisfied with their jobs That’s down from 61% twenty years ago.
While dissatisfaction does not discriminate in terms of age, one group in particular are definitely not happy. Less than 39% of workers under the age of 25 are satisfied with their employment situation.
Other report findings included:
- The lowest level of job satisfaction is exhibited among workers earning $15,000 or less per year.
- Workers whose earnings exceed $50,000 per year, at 52 percent, are the most satisfied with their employment situation.
- With less than 41 percent of householders claiming to be satisfied with their current job, the Middle Atlantic states (NY, NJ and PA) are home to the least satisfied workers in the U.S.
- The West South Central region (TX, OK, AR, LA) is home to the second least satisfied workforce. Only 43 percent of workers say they are satisfied with their overall employment situation.
- The most content workers tend to reside in the Mountain states (MT, ID, WY, NV, UT, CO, AZ, NM). Here, 56 percent of all workers say they are satisfied with their job.
- Consumers rated bonus plans and promotion policies as the least satisfactory benefits of employment, with less than 23 percent claiming they are satisfied with their company’s policies.
- Less than 30 percent of respondents claim to be satisfied with educational and job training programs as well as non-monetary reward/recognition and performance review processes.
Permalink
03.01.07
Posted in Uncategorized at 3:25 pm by Diana Heeb Bivona
Sometimes, many of us find that our personal credit history isn’t as good as it can be. The same can hold true for a small business as well. Things get tight, we have a few hard months, and before we know it, our business credit is suffering.While it can take time to fix — up to six months — there are things you can do if you find your need to repair your business credit. First, run your credit report and check it over for any potential errors or issues. It is not unusual to find errors or misinformation on credit reports. Therefore, its crucial to go through your report with a fine tooth comb. If you do find errors, alert the credit reporting agency and have them fixed.
As a business owner, you should make a concentrated effort to establish a good standing relationship with four or five key vendors. Pay those vendors on time or before the bill is due so you can use them as favorable credit references when needing to secure credit with other vendors. Also, establish a good relationship with your bank, i.e. no bounced checks or other credit problems.
Finally, consider establishing a business credit profile with Dun & Bradstreet. D&B will use your bank and vendor references and conduct an investigation to rate your business. They can then provide you with a D&B number that many vendors will ask for on your credit application. Most small businesses do not have a D&B number so having one will make you seem bigger than you actually are.
Permalink
« Previous Page « Previous Page Next entries »
