Small Business Blog

Archive for December, 2009

Preparing for a move? You better make a checklist.

The traditional checklist, a long, handwritten list of tasks, has evolved along with new technologies. In the past, we would relish in the act of crossing off each task as it’s completed. But in today’s technology-driven world, the checklist takes on a new form. Today’s checklist is probably typed into a computer or a Day Planner, and the emotional “cross off” has been transformed to the harsh tapping of the delete key. Despite technology, regardless of where you are moving, a checklist will be needed to help you get there.

Your new checklist will include traditional tasks ranging from canceling utilities and forwarding mail to returning library books, updating magazine subscriptions and placing important items such as passports, medications and plane tickets in your carry-on luggage.

But the checklist has evolved. You’ll still have to cancel your gas and electric service at your current address, but in today’s world, you may also have to update your satellite radio service and cable TV package. You may stop using these services but until they are canceled, you may still be charged for them. When you forward your snail mail, you will likely do it online. And don’t forget your e-mail. What about returning books to the library? Chances are, you bought your books online. No need for a trip to the library.

What about the list of items you place in your carry-on? It’s very likely that your plane ticket is now an e-Ticket, but you still may need to print a hard copy with a “bar code,” that is if you want to check in quickly and avoid those long check-in lines at the airport (which don’t seem to be progressing with technology). And you better add a few items to your carry-on list. You’ll need your mobile phone, Blackberry and PC chargers and don’t forget your Day Planner and your iPod.

Forwarding Your E-mail You’ll need to find out if your email account can be serviced from your new location. If not, you will need to establish a new e-mail account as soon as possible and alert all of your business contacts, online magazine and newsletter subscriptions as well as friends and family. You may want to set a forwarding option up with your current email provider so your current contacts can reach you automatically.

Virtual Banking Research your online banking service provider. If you need to open a new bank account, you may have to re-establish your online banking program. If you move more than once in a short period of time, your bank may require address changes to be made in writing. So much for high technology.

Get Shredding As you prepare for your move, you may have piles of documents ready for the trash, but who knows who might go through it and what they might find. Identify theft is a serious and growing issue. Shred and destroy old paperwork with personal information on it.

Dial it Up In addition to arranging for a home phone, you may need to arrange for a new mobile phone number from a provider in your new location. While your home phone probably does not have a contract in place, your mobile phone might. Canceling or suspending your service may be inevitable.

The new virtual checklist may not provide the thrill of the “cross off,” but it will provide a real-time, organized approach to managing the “modern move.” No matter how you organize your checklist, either on your digital day planner or with a pen and pad, it is the planning phase that will help to ensure a less-stressful, more-enjoyable relocation.

Chris Draeger, Group Vice President, Crown Relocations

Crown Relocations has been providing international moving and relocation services since 1965. With 200 offices in 50 countries, Crown has “people on the ground” in all the major Expat communities around the world. Crown provides a range of services to help Expats and their families move and settle into their new home ranging from Orientation Tours, Home finding, School Search and more. Crown also organizes Expat Clubs with regular events to help people meet and socialize with other Expats.

We also serve corporate clients as they develop and manage the relocation policies and employee benefit programs for the staff moving overseas. Services include expense management, program development, policy counseling, customized online reporting and full departure and destination services for the employees.

Crown is a private organization headquartered in Hong Kong, with European HQ in London and Americas HQ in Los Angeles California.

Crown provides free moving quotations on its website at http://www.crownrelo.com

Have you started your book yet? No. Don’t think about it any longer. You know the words; now say it with me. Just do it! With the right focus and information, you can successfully begin, complete and even publish YOUR book within a few months this year.

More and more people are successfully completing their books in less time. Even your competitors are getting it done. Why not join them. Here’s seven tips to kick start writing your book:

1. Make your mark in the world with a significant book.

Many hopeful authors tremble in their tracks wondering if their book will sell. That’s a good question. Who wants to invest time or money into a sinking ship? Don’t be afraid; here’s how to test your book’s significance.

You can know your book is significant if it presents useful information, answers important reader questions, and impacts people for the good. If it’s entertaining or funny it could go further than you imagined.

It’s significant, if it creates a deeper understanding of animals, humanity or this world. With one to three of these elements your book is worth writing. More than three, it has potential of making great sales and even to best seller status. Now, get started; write your book and make the world a better place.

2. Find out who will buy your book and sell it to them.

When you give your book a specific audience, it will hit the mark of good sales. Best seller books focus on a single topic per book. When you aim at one audience at a time, each tip, each story or how-to will be more effective. Point your message to someone specific and you gain a competitive edge on many book writers. For many authors just shoot their book out to the world without aim.

It would be helpful to create an audience profile. Are your potential readers male or female? How old are they? Are they interested in topic? What problems do they face? Are they business people or professionals? Are they techies or non-techies? Are they willing to spend $15-20 on a book like yours? Do this and you’re on your way to selling more books than you dreamed.

3. Write your book’s central thought and support it with your book.

Did you cringe at the words (thesis) central thought? For some, it brought back memories of school days and writing essays. No worries, a thesis simply means the main central thought of the book. Make sure your main central thought includes the greatest benefit to your book reader and you’re done.

In other words, it should answer your audiences’ question, “How will this book help, encourage or solve my problem for me?” Write the thesis before you write the book and stay on the path of focused, powerful yet easy to read content.

All chapters support your book’s main concept. For “Win with the Writer Inside,” the thesis is “How to write, complete, and publish your best book fast.” The top selling titles often include the main thought in some form.

4. Make an inspiration cover early to encourage yourself.

Keep it nearby to inspire you. Remember, book covers are the number one selling point of a book. Of course, in the beginning this is only a working cover. Nevertheless it will help crystallize your thoughts and propel you toward the fulfillment of your dream. You have 10 seconds or less to impress your potential readers to buy.

Look around the bookstores and the internet to get a few ideas. Look for the covers most suited for your audience. Choose colors that attract them. For instance, consider red and blue for business books; aqua, yellow, and shades of red work for personal growth books. Even so, avoid too much red; it makes some feel suspicious.

5. Develop the back cover as a sales message before you write chapter one.

This benefit driven outline helps give your book direction and helps you focus on what’s really important to your readers. Most books will only allow for 50-75 words. That gives you less than 20 seconds to impress your prospective reader. Make this message passionate. Focus only what sells: testimonials (reader, expert and famous), a benefit driven headline to hook the reader to open the book and read the table of contents, and bulleted benefits.

6. Compose your book’s 60 second “billboard” before you begin writing.

Have you noticed a billboard lately? You only have a few seconds to get it as you drive by. So, the information is distilled into sound bytes to be effective. Make your 2-3 sentence book blurbs into sound bytes. Like a billboard where you only have a few seconds to get your message across, condense your sound byte into a 60 second tell and sell.

Use your mini billboard at networking meetings, in the elevator, in the grocery line, anywhere you only have a few seconds to tell about your book. Composing your ad should include your title and 3 top benefits.

7. Write your publishing goals down for your book.

Will you self-publish or shop for a traditional publish? There are serious pros and cons for either method. Find out the differences so you can make an educated choice that suits you. If you are self-publishing, consider the POD technology for your book. There are lots of good choices that will publish your book for you at an affordable price.

If you are opting for a traditional publisher, get an agent and a contract before writing the book. Then shop agents and publishers with 2 chapters and a knock-out book proposal. Invest in one of the current market guides and research the best fit for your work. It raises your chances considerably if you know what kind of manuscripts a particular company is looking for.

I admit it; getting started writing a book can be challenging to most. Even so, it doesn’t have to stay that way. You can do like the author did; use the ten tips above and kick start writing your book. Start today; complete and release your significant message to the world. Then jump around, get excited for it won’t be long before we see your name in print!

Fledging businesses can now protect themselves in the current climate for only £49 (plus vat) as leading contract supply service ContractStore.com launches the Consultant’s Business Pack – a downloadable collection of important legal documents, drawn up by highly experienced lawyers especially for those setting up in business.

Giles Dixon, MD of ContractStore.com explains: “Our research shows that Start Ups as well as existing Businesses are not taking the necessary steps with regard to due diligence when signing up with their clients and suppliers.

“In today’s climate it is vital to leave no stone unturned when protecting your business – whether this is guarding against bad debtors or making sure you are limiting your risk of claims.”  

“A decent contract will protect your business just as a decent umbrella will protect your clothes, and this special pack has been devised to give consultancy start ups the helping hand they need”, he adds.

The Consultant’s Business Pack includes:

- A Confidentiality Agreement. For use when you begin negotiation with a potential business partner such as website designers to showcase your idea

- Consultant Standard Terms of Business.  Designed as a set of standard terms for use by a consultant when submitting a proposal to a client, as well as when entering into a contract with the client.  They are written in clear English and easy to read and understand.

- Confirmation of Order for Services.  This one page form is designed for use when confirming an order for services to a client.

- Website & E-mail Legal Notices.  As many consultants nowadays have a website to promote their business, there is a collection of legal documents you may want to use on your website.  This includes a Privacy Policy, a Disclaimer Notice and a Copyright Notice.  There is also a template for the information that a company in England is required by law to show on its website and a template for the information needed on company emails.

- Appointment of Individual.  This letter of  appointment is suitable for a wide range of appointments- and can be used by a consultant who takes on other people in their business – either to work as part of the consultant’s team in dealing with clients or providing supporting services, e.g. as a bookkeeper.

- Notes on Preparing a Business Plan.  Nineteen pages of useful notes prepared by an accountant explaining how to put your Business Plan together.

In addition there are some useful advisory notes, especially for anyone setting up a new business, and these include a Guide to Starting a Business, a Checklist for a Shareholders Agreement and Explanatory Notes on Employment Contracts.

Each of the lawyers who produce the contracts for ContractStore.com, has expertise in different areas of the law. Between them they have over 150 years of experience in drafting contracts.

For more information go to www.ContractStore.com.

Very few work at home or small business owners think about revenue generating. In fact, if you ask most ‘how will your business generate revenue,’ most will give a vague, random answer that is based on clichés from business management and ‘How to Start a Business’ books. After investing a few thousand dollars into the business, and spending several months struggling, the business owner is forced to sit down and create a strategy for generating wealth.

The ideal strategy is found in business expansion and promotion. It does not take a long time to create a strong revenue generating strategy. Small business owners who learn how to create a marketing plan will have the edge over their competition. There are a few basics that can help all work at home and ecommerce business owners.

Understand Marketing

There is a difference between marketing and sales. The act of selling generates revenue when a product is sold. Marketing is the act of attracting attention, branding a product or person, and then creating a buzz that will eventually result in sales.

A good marketing plan is an essential tool for any business, including ecommerce ones. It should be viewed as a blueprint for generating revenues. Some small business course instructors tell their students, ‘if you cannot create at least five pages of revenue generating strategies, you haven’t thought through the process well enough.’

The basics of marketing involves showcasing the product for sale. This involves more than posting a website and creating a shopping cart. Many new business owners lose track of the most important word ‘showcase.’ The product must be put before the general public. Not in a way that shoves the product or the company down prospective client’s throats, but in a way that generates interest.

There are several ways to do this on the Internet. The most common is writing press releases, reviews on the product, and participating in forums where you can casually mention how the products solved your problems. Another way is to join a community and help other members solve their problems, and in turn, earning their respect and turning them into clients.

Vary the Payment Options

One of the most overlooked aspects of the ecommerce and brick-and-mortar business is the payment options. Consumers usually favor one or two methods of payment, if those are not available they will leave.

Payment options must be a foundation of a revenue generating strategy. The business owner should design different strategies around different payment methods.

One of the biggest mistakes is giving potential customers only one place to purchase the item. Many small businesses limit their sales to their personal website. Internet customers who are afraid of phishing scams will prefer to walk instead of making a purchase – no matter how much they like the product. Many ecommerce sites are now selling through Amazon.com using their fulfillment option, or Ebay, to offer a ‘familiar’ method of selling to their businesses. Others are building PayPal stores, taking advantage of Ebay’s promotion and advertising to gain credibility and respect from prospective clients.

Information

It is amazing how many web businesses invest hundreds of dollars in creating content, but none of that has to do with their products. They do not write reviews, or even have guest books were current clients can write their own reviews on the product. The short blurb on a shopping cart is never enough to sell a product. The potential customer must be sold before reaching the product.

There are three customer needs that the information must cover. First, how the product can solve problems. Second, how the product can improve life. Third, how the product will save time.

A revenue generating strategy that covers these three areas, and meet the three needs of customers can be labeled a ‘blueprint of success.’

If you are the owner of a business and you think it’s about time you retired or simply if you want to sell your business for personal or professional reasons, you are definitely going to need a business valuation and a good accountant. Selling a business, be it a small or a large one, is a big step and it should be done with the assistance of professionals.

For those of you who are not familiar with the terms, Business valuations represent the process by means of which we determine how much a business is worth. Usually, valuation is used to estimate the selling price of the business and to resolve business or legal disputes. Although this sounds quite simple, if you want concise, clear and fair Business valuations we suggest resorting to experts in this field since they know their business.

The most frequent issue when it comes to Business valuations is setting a value on all the assets of the business, including the intangibles such as good will, the trade mark, the client list, etc. For a fair and exact valuation of your business you will need to resort to the services of an appraiser, but be careful because there are several types of appraisers and you must choose the one you need.

A professional business appraiser will tell you that there are several types of Business valuations methods and that these methods will help you determine a fair price of the business that is to be sold. If you are selling your business we don’t recommend doing the valuation by yourself since you won’t be able to give a fair price and to make an honest estimation. The business valuator will determine the value of your business by means of the asset-based approach, earning value approach and market value approach.

The first approach that was mentioned above helps the business valuator to determine the net cash the owner would receive if all his assets were sold and his liabilities paid. By means of the earning value approach, the appraiser determines an expected level of cash flow for the company, basing his estimation on the company’s record of earnings. Finally, the market value approach establishes the value of your business by comparing your business with other similar ones that have already been sold.

Another aspect that should be dealt with the proper importance when selling your business is Accounting. If you have decided to sell your business, you need to know that your Accounting will be verified by the possible buyers and that it is in your best interest to offer them accurate reports. If you are having a hard time keeping track of your expenses and gains, it is better to hire an accountant. Thus, he will be the one doing the Accounting and making sure that everything is in order.

It is essential to budget your business in order to attain your goals. An efficient Accounting record will help you plan, control and evaluate your business. Book keeping is not easy if you don’t have experience in the domain and the right thing to do is hire a professional accountant who will keep the record of your expenses. When you sell your business, the future owner will certainly want to see your book records and you might lose buyers if they aren’t in order.

We Buy Your Business

Getting out of business is a process. The length of time required to complete the process is directly related to the complexity of the business, and the circumstances underlying the decision to get out. Planning how you exit your business is just as important as how you started it.

The exit process, timing of events; and tasks associated need to be tailored to the type and complexity of the business. Each case is individual because reasons for dissolution differ, and problems that arise are unique to each circumstance. The following checklist contains key elements that should be evaluated as early in the exit process as possible to eliminate pitfalls later on.

The process for exiting a business should include evaluation of the following points:

1. Engage Professionals & Consultants as Team Members.

2. Prepare a List of Assets & Perform a Physical Inventory.

3. Perform a Valuation of the Business.

4. Prepare Detailed Plan & Assign Responsibilities.

5. Release Announcements & Notices.

6. Conclude or Transfer Contract Obligations.

7. Dispose of & Transfer Assets.

8. Settle Accounts Payable & Debt Obligations.

9. Prepare Final Financial Statements & Tax Returns

10. File Articles of Dissolution.

11. Prepare & Issue Special Filings, Notices, Informational Returns, & Taxes.

12. Receive Tax Clearance Notice.

13. Close Bank Account.

14. Store Business Records

The process for successfully exiting a business requires the same amount if not even more planning as starting the business. While the process may be easier, it is likely to be less enjoyable and more stressful. The best advice for business owners is to incorporate potential exit strategies in the early stages of setting up their business. Vigilance and diligent managerial oversight is needed to ensure that complications and problems which could affect dissolution, and net value, do not develop into roadblocks. When the time comes to divest or sell the business, be sure to engage the relevant expertise needed, and prepare an action plan.

We Buy Your Business enables clients an opportunity to sell businesses and business assets fast for cash. If your exit strategy requires a quick divesture option Contact WBYB for cash offer NOW. Website: www.WeBuyYourBusiness.com