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Are you ready for the recession? Here’s how you can turn it into an opportunity to survive and thrive: set up your own online business and create an extra stream of income.

Starting a new online business does not mean that you have to give up your current job. You can set it up doing extra work in your evenings and weekends and keep your income from your current job while the income from your new business grows.

So what do you need to do to maximise the chances of success of your new business?

Find something that you’re either good at or passionate about. Then you need to research and plan properly.

Here are 8 questions – answer them in full for your situation and you’ll have the basis of a sound plan for your business:

1. What are your skills?

Can you teach? Can you write? Can you sell? Are you technically proficient?

2. What do people want to buy? In a recession.

Luxuries and frivolous things are not going to be at the top of people’s shopping lists if they are struggling with the effects of recession. Necessities are.

3. Is there a market?

Is there a demand for it? How much would people be prepared to pay for it? What will affect demand for it (e.g. weather, strikes, competition) and how? How much competition is there? How much is your competition charging?

4. What will the process be?

How are you going to make it? How are you going to market and sell it? How are you going to deliver it? How are you going to get people to pay you for it?

5. What are the dependencies?

What type of premises do you need? Do you need outside suppliers – if so for which parts? Do you need licences – if so what licences? Do you need special equipment? Do you need staff?

6. What are the costs?

Premises, raw materials, suppliers, marketing, delivery, license costs, staff costs, lawyers and accountants, day-to-day operational expenses.

7. How much money can you make?

How much can you sell it for? How many can you sell in a week/month/year? What sales channels will you use? How will you promote it?

8. Do you have sufficient funds?

What are the start-up costs? What are your marketing and promotion costs? How long before you can break even? Where is the funding going to come from?

It doesn’t matter what type of business you’re thinking of, going through that checklist is a good way to make sure you’ve got most things covered.

Use the answers to those questions to create your business plan.

And here’s some good news: if you start an online business many of the items above won’t apply.

With an online, affiliate marketing business, for example, your start up costs would be negligible, your delivery and logistics costs zero, you would have no need for special equipment or premises and no need for separate outside suppliers.

But you still need to develop a plan!

It’s important to remember that, whether your business is online or off-line, it’s still a business.

Don’t be taken in by all the promises of easy money online. It simply isn’t the case – if it was everyone would be doing it!

But, as long as you treat it like a real business, you can make a lot of money online.

There are lots of resources available to help you with developing and promoting your online business – just make sure you pick top quality ones.

And beware (and avoid) the snake oil salesmen: those who promise huge monthly incomes for doing just a few hours work a month.

Power Business Cards in the Modern Setting

Modern day businesses seek new and exciting ways to strike an impact to their prospects. So in every possible way, creativity and innovation is a must. And your business card should be first on your list.

The business card is who you are, your business in the outside world. And it is important that every inch of it defines your purpose, your identity. Business cards are very powerful tools. It is what connects you to clients and prospects, for you to be remembered. If you’re wondering why your name, your business isn’t quite remembered in every business encounter, perhaps a short checklist would help in smartening up your business card to something more powerful and up-to-date.

· It serves its purpose: It’s good to recheck every now and then the overall impact of your business card. Try to think of it as a promotion of you and your company too. Check in on your logo, design, color, and material if they all fit perfectly to who you are and where you stand. Also, it pays to go a little overboard to add emphasis. You can choose to emboss or engrave, or even have unconventional shapes and sizes to make it define you better.

· Keeping it Professional: Although people can go crazy with their design and shape, you still have to give your card some dignity. You would want the receivers to call and inquire about you and not just admire an attractive card in their hands. Try to find a balance in keeping it polished but at the same time, with an out of this world appeal.

· Make it easy to understand despite its creative appeal: Try not to forget that although it serves to promote you, it still is meant for the people who receive it. Keeping it simple in captions would put more weight in making people remember and understand you.

· Use power words: Make your words speak to people. Keep them short and simple but persuasive at the same time. Use words that people want to hear and what they can relate to. For example, ‘inexpensive’ or ‘great investment’ would give them reasons to rethink their dealings with their current agent. And eventually, inquire about what better thing your business can offer.

Making the perfect business card requires a little bit of your time and effort, but it is also fun in the process. It is also important to choose a printer that could understand and accomplish your exact, desired output. Nowadays, online printing companies provide full support in helping put your visions into prints. The right printing company can give you an edge from your competitors by creating your sophisticated and impressive yet cheap business cards.

One thing I’ve found in my many years of entrepreneurship is that smart marketing is the key to success. I’ve worked with so many different types of small business owners, entrepreneurs, coaches and consultants from all kinds of industries and no matter what the business is; I’ve found that if the person doesn’t know how to market it and they don’t get help to do so, the business just doesn’t survive. The following 8 items are what I consider a good small business start up checklist; if you are in business or thinking about getting into business you will want to make sure you have or are working on all of these things constantly. The mix of all of these necessary items works well to maximize your exposure, credibility, expert status as well as build your database and help you make informed marketing decisions.

1. Realistically Defined Target Market
Most small business owners actually have way too large of a target market to be realistic in order to market to them all with the limited time and budget available. More than likely you might want to narrow down your market or define your niche even more with specific demographics and psychographics; then you’ll really begin to see unique opportunities that might become available to reach that market. And don’t forget about all your referral sources – they are your target market too!

2. Marketing Plan
This plan should outline everything you could possibly do in your marketing based on who your target market (ideal client) is and the best ways to reach them including various guerilla marketing techniques, promotions, ideas and co-promotions. Then you need to stick to your well-researched plan and not get sold or steered away by random advertising opportunities. This should also include a Publicity Plan – Including pertinent media contacts, press releases, article submissions and event listings for ongoing exposure – If you’re not submitting press releases regularly to the local media, local organizations you belong to, etc. you are missing FREE opportunities to get additional exposure for your business.

Your Marketing Plan should also include an Advertising Plan – Including Timeline & Budget – More than likely you’re not spending enough money on advertising, period end of story. If it’s done in the right places, places that reach your target market, with a good message or headline and for a reasonable length of time you should see good results. If you only try it once or go too small or have no idea to effectively design your ad – you will not get results. Learn about all the advertising mediums in your target area, who they reach, their demographics, what kind of circulation they have based on their cost, etc.

Your Marketing Plan should also include an active Networking Plan – Including any pertinent organizations, associations, chambers or other professional group that brings in referrals or is a good venue for prospecting or business development – Pick 2-5 organizations you believe are the best to either promote your business or build your business in, join them and then become as active as you possibly can so you become the well known expert in your field. Volunteer your time generously and most of all put their events on your calendar before ANY other client meeting or job BECAUSE …these are your advertising dollars NOT being spent!

3. Database
Inputted/Formatted in the computer with all Clients, Prospective Clients, Referral Sources & Contacts. You need one place where everyone you have ever known or done business with is housed in the computer so it’s easily mail merged for one – sort them if you can by hot, warm or cold prospect or referral source. Then you should regularly stay in touch with your database through effective Database Marketing and Follow Up in order for you to be On the Top of Their Minds when the topic of your service/product comes up.

This can include letter and email templates, a system for following up to Hot, Warm and Cold prospects and ongoing database marketing – If you are not doing quick follow up after you meet someone/anyone then you are missing opportunities and they will forget about you. You want to follow up with everyone you meet within 48 hours and then continuously, you need to make this automatic, systematic and practical so it will get done – delegate it if you have to.

4. Website Including Domain Name (s), Hosting, Reciprocal Links, and Internet Submission
You are missing out on sales if you do NOT have a website – but a professional website is a must, not a home-made, amateur site; that will hurt you and your credibility. It doesn’t have to cost an arm and a leg, but the goal should be to inform, entice and capture – capturing the contact info from everyone who visits your site should be your most important goal – because then you can continue marketing to them either by mail or email and the more likely they will use you or refer you. The content on your site needs to also be compelling, attention getting and filled with keywords to attract the search engines. Hiring a good web designer or developer is very important and very hard to do because many have talent but some do not and say they do. You really want a web designer that also has some sales and marketing experience although in my experience, that is the hardest thing to find.

5. Email Marketing Distribution Lists, Program for Email Marketing, Newsletters, Promotions
Email marketing is the cheapest form of marketing anyone can do these days but there are spam laws to follow and email etiquette you should strive to follow so you look as professional as you can. See www.spamlaws.com for more tips on what to look out for in your email marketing.

There are online email programs you can use to really make your emails POP but remember to send people info that they want to read, not just what you want them to read. When you consult with me, we evaluate the best format and program to use for your email marketing campaigns as well as figure out how often you should send them, what to say in them and how to make more money with them.

6. Professional Marketing Materials
Business Cards, Letterhead, Envelopes, Brochure, Sales Packet, Flyer, and Postcard. Whatever is necessary to reach your target market – they need to be professionally designed, printed and presented! Don’t try to design your own marketing materials unless you are a qualified graphic artist, trust me, they will not reflect the image you want to project. It’s not just important for them to look good but they also need to have an attention getting headline, message and clear call to action. Hiring a good graphic designer is tough; many designers are not what they say they are. Ask me for a referral or have me help you – with my sales and marketing expertise and one of my talented graphic designers we can create outstanding marketing materials that will make you stand OUT from your competition.

7. Branding
Includes Signage like Nametags, Shirts with Logo, Vehicle Signs, Banner, Promotional Products and Giveaways. The more your name is in front of people’s faces the better. You want people to recognize your brand on everything you do and everywhere you go. Find a good promotional products company from your local chamber of commerce or ask me for a referral.

8. Good, Reliable Vendors
Includes industry vendors as well as those for your business development like printers, mailing houses, delivery services, rental companies, assistants – you’d be surprised to know you’re probably spending too much money in one or more of these areas right now. Find reliable, inexpensive sources, if you need referrals to companies I recommend, just ask me! If you are thinking there is absolutely no way you can get all this done yourself or you just don’t know how to do something on this list then I would suggest you find an expert in that field to help you. Delegate that task to someone who knows best how to accomplish it and can do it much more efficiently than you.

The cost of outsourcing such tasks far outweighs your valuable time spent trying to figure it out yourself and who knows if you’ll figure it out to the best for your business? Your marketing is the most important thing you will ever do in running your business. If you don’t believe that, then save this article somewhere safe and when you go out of business in 2-5 years, find it and read it again.

Potential timeshare investors seldom review the crucial factors determine the purchase of a timeshare property. This results in many buyers being caught in a catch 22 situation when its time to take the final decision. That being said, buyers today are a lot more aware of the ramifications of their actions to their predecessors were. Due to easy accessibility of information via the internet and search engines, buyers today can undertake more intensive research prior to acting on their plans. The availability of a wealth of information can also be detrimental because of conflicting information from varied sources.

Yet many investors seem puzzled when asked if they have a checklist of things to consider before buying a timeshare. The objective of this article is to enable investors to create an extensive checklist that will help any timeshare investor to choose the timeshare best suited to their requirements.

The first most important step is decide whether the purchase will be made through a broker or if the owner is going to contact the developer directly. If the purchase is through a broker, he should be licensed, with a good reputation and high success rate in handling timeshares. To check if the broker has in depth knowledge about the timeshare, an owner must ask the following questions, which should be validated with another source.

- Maintenance fee of the resort and if the fee is raised every year, if yes what is the annual increase?

- The chances of getting the best timeshare at a particular time of the year?

- What is cut off point to which is still early enough to make a reservation?

- The possibility of additional benefits being available for the timeshare?

- Whether the timeshare company offers any bonus week programs?

- Whether the timeshare company offers any bonus week programs if reservations are made at low seasons?

- The owner exchange or trade the timeshare without joining an exchange company?

- Whether the broker or the brokerage firm offers a point system?

Sometimes purchasing a resale property could be viable option as against a new property. This is a crucial aspect which should be discussed with the broker. A fundamental cost determining factor would be the high demand for a particular week in the year or in a season for a specific location. The size of the unit greatly affects the price as bigger units are easy to trade in and exchange hence are in more demand. Another factor is reputation of the firm owning the timeshare resort . If the company has had a high success rate then the demand for their timeshares would be higher and could result in a higher appreciation rate for the property.

Some investors purchase their units sight unseen if they want a quick escrow. This is okay if you wish to own the property for a very short period. However, if this is serious investment , always inspect the property prior to signing the deed of ownership. This is because in sometimes the descriptions provided by the timeshare company or the re-seller turn out to be distinctive or lacking in actual details like the property location or the size of the unit. Alternatively, if the prospective owner cannot see the unit, always request a reliable source residing in the vicinity to view the property and send feedback based on the checklist or pre-determined specifics. In case of a resale unit, getting feedback from older neighbors about the property management and amenities can be a useful source of information. A potential list of questions to ask neighbors are:

- Overall feedback on the resort?

- The period of time since the older neighbors have been vacationing at the resort?

- Ease in booking a vacation and or exchanging to another property?

- Feedback on the responsiveness and professionalism of the management?

- Overall satisfaction with services offered by the management company?

- Possibility of hidden maintenance and other or fees?

- Consistency in fees

- Frequency of increase in fees and the percentage increase?

- Developers plans or intention on improving the overall appearance of the property in the future?

Doing a background check on the prices in the area of interest and viewing sites like mytsmp.com comes handy when its time to take a decision. Reading the fine print first will always result in a sound decision as the owner would be aware of any exceptions. If the owner is purchasing a resale, the first question to ask is the underlying reason for the sale. Is there any issue with the management company or the neighbors or the quality of construction of the unit? Also a fact to keep in mind is that the unit should be close to half the price of a new timeshare unit sold by a developer. Getting a feel of the potential problems assist in deciding the purchase of the unit. If attention is paid to all the important factors, a wiser buyer will be able to take a smarter decision on the purchase of an ideal timeshare.

It is a great idea that you have decided to start your home based Internet business. To give you the upper edge to stand a few steps ahead of your competition use this checklist to ensure that all of your ducks are in a row and that you get a successful beginning to your new endeavor. First, you have to make sure that you have ample Internet access. As a matter of fact a broadband connection would be beneficial. This will save you a lot of time. Select a business that you are passionate about which will give you the drive and conviction that you need to be a success. Come up with a business name. Some simple brainstorming will help you out with this. Narrow down a few choices and go from there. Look for a name that stands out. Think about some commercials that you have seen on TV lately think about why you remember it and it is likely because they stood out above the rest. This is effective marketing!

Decide on your budget in terms of how much time are you willing to invest and how much money you have to get started? More money is only important for time saving that makes things more effortless. Those things you can do without at first because you need to learn the ropes and make a presence before you send your business on autopilot. When making your budget be sure that you do not include any monies that are needed for everyday life or to manage the household. Choose a domain name and when you do this stick with a name that is relevant to your business. For example if you sell cookies you would want a name like cookiesbyme rather than entrepreneur. There are lots and lots of registries available and some are free while others can cost some big bucks. Start out with the freebies so you can invest any money somewhere else.

Next, you need to set up some email accounts. These are free too, so do not worry. Try to make at least four separate accounts so that you can keep your projects separated easily. Get yourself an auto-responder. There are lots to choose from but just choose the one that best meets your budget. This is actually a very important tool that can either make or break your business. Marketing research indicates that most people will not make a purchase on their first visit to your website. Auto-responders do the follow up with not much effort on your end. It is really important that you make sure that you put some effort forth in developing a follow up message that is of quality.

You should also have a home based business phone. This might not be needed immediately but in time you will need one. Mixing your home phone with a business phone is not a very good idea because you risk the chance of your kids picking up the call; you may tie up your home phone line or even miss a call.

Why do 70% of all businesses fail to survive after one year? Why do 65% of small businesses never survive the 2nd generation? Are you unable to retain great staff? Why it need not cost a bomb for branding your business?

Before embarking upon any business, a good entrepreneur will need to “blue-print” win-win-win business & marketing strategies to ensure business continuity and growth.

This is the most crucial component of your business … even before you start. It provides the fundamental framework & blue print of your business in 6 sections, mapping out your business goals, marketing strategies, operations framework, organization structure, financial viability & business expansion or exit strategies.

There are many complex Business Planning Software sold in the market, which you will need depending on the scale of your business. A simple checklist as below is a good start for you to build upon. One major benefit for crafting your own business plan be it using Business Planning Software templates or developing your own, is that it helps to tune your thought process in exploring the essence of your business.

BusinessFast4ward Business Plan Template

1) Goals with a Timeline – Measurable, reasonable and achievable over a set time period

2) Your Marketing Plan with a Timeline

* Viability studies – Porter’s 5 factors, P.E.S.T. analysis, S.W.O.T. analysis, Target Segment analysis, Product Life Cycle analysis, Value Proposition of products, Competitive Advantage Model, Product Growth Directions, BCG Matrix

* Market Planning – Marketing Mix (4Ps) strategy, Internet Marketing, Integrated Marketing Communications, Marketing Implementation plan, Marketing Budget plan

* Monitor & Review plan

3) Your Operations Plan with a Timeline

* Business Structure, Scope, Regulatory Issues, Plant & Equipment, Production Arrangement, Distribution & Warehousing Arrangements, Credit Terms, Quality Control, Location, Business opening hrs, Commencement Date

* Stand Operation Procedures (S.O.P.) for each business function

* Monitor & Review Plan

4) The Organisation Plan with a Timeline

* Organisation Structure, Skills required, Talent management strategy, Business Succession plan

* Monitor & Review Plan

5) The Financial Viability Plan with a Timeline

* Financial Statement Forecast, Breakeven Analysis, Capital Spending plan, Required investments and spending, Ways to raise $, Additional $ source

* Financial Contingency Plan

* Monitor & Review Plan

6) Business Strategies

• Business Succession planning

• Business Exit strategies

It is important to note that a well crafted smart Business Plan is the first step to solicit funds from Bankers or Venture Capitalists should the need arise.

Your new or existing business must be planned adopting the broad basis in consideration of sustainability, scalability and contingency. Sustainability implies consideration of realistic sustainable longevity of the business. You should also plan well ahead for your business growth, ensuring that the business is expandable via scalability, like the famous “LEGO” blocks. Contingency is the most ignored part of most businesses, be it in unforeseen man-made emergencies like terrorism, or natural disasters and calamities like hurricanes, earthquakes and floods, or simply, unexpected financial crisis.

Hence, the rule of thumb to drafting a good business plan is to adopt a conservative approach both in planning financial and manpower resources. However, also learn to strike a balance and permeate that innovative and curious mindset when drafting your business plan.