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Posts Tagged ‘Market’

3 Alternative Solutions To Market Your Business

Monday, August 30th, 2010

When you start up a new business you will no doubt prepare a business plan and you do this not just to get a loan from the bank but because it truly adds value to understanding the viability of your business venture.

Well, that’s what should be happening anyway. When it comes to validating your business plan it’s not a bad idea to apply the following rule and see what the outcome is:

1. Halve your revenue expectations
2. Double your costs

If you’re still making money then you really could be in with a shout of starting your own business and having a viable business to boot. Congratulations!

The serious point to this however is if you now look at your costs and try and find ways to reduce them, then this should be a really useful exercise. How many businesses go bust in their infancy due to “cash flow problems”? Taking control of your costs in this way will really ensure that you give your business every chance of success.

One of the biggest costs that any new business has is advertising and marketing and a great frustration is that to the inexperienced professional it can be a bit hit and miss in terms of its success and if you find it to be more miss than hit, then the odds are that your going to find it an expensive business too.

One way to get targeted advertising in a relatively low cost environment is business networking and if you’re really lucky you may find that there are a local business networking events in your area. If you’re not having success in this area then consider contacting your local chamber of commerce.

There are two big chamber organizations in the USA and one in the UK

The British Chamber of Commerce

The British Chamber is a non-political, non-profit making organization comprising of over 56 accredited Chambers all over the UK

The fundamental aim of the British Chamber to ensure that UK business thrives and it does this by working with key decision-makers in government to try and influence policy.

It’s at the local level however where you will find support to the business community providing services, information and guidance to its members such as business networking events through free legal advice and reduced insurance.

The U.S. Chamber of Commerce

The U.S. Chamber of Commerce was established in 1912 is still the world’s largest business federation representing over 3 million businesses of all sizes, sectors, and regions. There are hundreds of associations and thousands of local chambers in the U.S. and it also includes over one hundred organizations abroad.

Just as the British Chamber its primary goal is to “fight for business and free enterprise before Congress, the White House, regulatory agencies, the courts, the court of public opinion, and governments around the world.”

The U.S. chamber provides a multitude of services from advice, information and education and again at the local level, support in the form of business networking information and events.

The U.S. Women’s Chamber of Commerce

The Women’s Chamber supports both female business owners and career professionals with the objective of creating business and leadership opportunities for women.

It provides numerous services to deliver government contracting opportunities and provide access to education and development programs. It runs a variety of events aimed at bringing women together to learn about and discuss topical issues with other women.

So in summary there is a wealth of opportunity out there to promote your growing business with out spending a fortune and a great place to start is your local Chamber of Commerce

About the author:

Louise Yates shares business networking information and tips for generating referrals and free sales leads together with performance business coaching for your work, life and career development.

Despite Depressed Home Market, VA Loan Program Stands Strong

Tuesday, July 6th, 2010

In the current economy, many homeowners have not been fairing well. Homeowners who cannot make their monthly mortgage payments are becoming delinquent on their mortgages and facing possible foreclosures on their homes. But in the midst of the mortgage crisis, the VA loan program has still been successful. VA loans, which are exclusively available to veterans and men and women serving in the military, provide multiple benefits to borrowers that enable them to finance their homes and stay grounded in the struggling home market.

VA Loans Have Lower Delinquency Rates Compared to Other Home Loans

This type of financing remains a popular option for qualified applicants who want to finance their home in an affordable way. In 2009, the Department of Veteran Affairs guaranteed 325,673 VA loans, proving that the sinking economy was no match for the program. These loans have a delinquency rate of only 5 percent. This is quite low when compared to the delinquency of other types of home loans, which are as high as 30 percent! This shows that the VA must be doing something right with its home mortgage program to be able to maintain such a low delinquency rate.

Why VA Loans Continue to Be Successful

VA loans offer many benefits to both current homeowners and prospective homeowners that allow them to save money upfront and over the life of the loan. This type of financing is unique in that it does not require borrowers to make a down payment on purchases. Many lenders are reluctant to offer this type of incentive because they consider it to be risky in this unstable housing market. The elimination of the down payment saves first-time home buyers thousands of dollars in out-of-pocket costs, which allows them to have more money for other expenses associated with buying a home. Homeowners who already have a mortgage can refinance their loan into a VA loan to receive a lower rate, cash or to consolidate their debt!

Currently, mortgage rates are at historical lows, which makes now a great time for individuals to get a VA loan. Compared to other types of home loans, these loans can offer even lower rates. With a low rate, homeowners can reduce their monthly mortgage payment and have more money available for other expenses. This type of financing also does not require mortgage insurance, so borrowers can save even more money over time.

Eligible Applicants Should Take Advantage of This Great Opportunity!

This type of financing is also easy to use because it has lenient credit and income requirements; applicants do not have to have perfect credit to be eligible! This is good news for those who may have been turned down for a conventional loan. Applicants will need to have a credit score of at least 620, and they must have gone one year without any delinquent payments. Consider financing with a VA loan to receive a low rate and save money! Interested veterans and service members should speak with a loan specialist to learn all of their options and how they can get started today!

Wealthy Real Estate Investors Use A Process Known As “flipping Properties” To Quickly Make A Real Killing In The Real Estate Market.

Sunday, May 9th, 2010

Wealthy real estate investors use a process known as “flipping properties” to quickly make a real killing in the real estate market. The process is simple. Flipping properties simply means buying a piece of real estate under contract and then reselling it at a markup within days or months of the initial purchase. In most cases, investors resell these properties to investors rather than homebuyers.

This type of investing offers many benefits for the smart investor:

* It allows for big savings. Since the property passes through hands quickly, the savvy investor will spend less money on managing the property.

* It allows for big profits. Flipping properties is very lucrative because it allows the investor to instantly mark up a property price and enjoy thousands or even tens of thousands of dollars in profits on a single deal. Investors in the know even maximize their profits by purchasing homes that are priced below market value and then reselling for full market value. As you can imagine, the profit potential here is virtually unlimited, since you can buy cut-price properties at tax sales and directly from cash-strapped homeowners and resell at a huge profit.

* It leads to fast cash. Many would-be investors are wary of the real estate market, because they assume that selling, buying, and managing properties takes months and years. Flipping properties allows you to see cash up front – in just a few days on desirable real estate.

* It helps others. Most investors are interested in the bottom line, but flipping properties is actually a very good way to help out others. Investors who are successful at this help other investors by uncovering the valuable properties that can make others money. That’s why the markup makes sense – by flipping properties, you are providing a great finding service for others. In some cases, investors are also able to help out homeowners in financial distress, by helping them to get cash for their homes.

Smart investors are already making incredible profits by making use of this simple investment secret. However, the uninitiated do need to be wary. Profits are not assured. To be a successful investor, you need to be able to spot deals and uncover the homes that will actually sell fast. Telling the real estate gems from the duds is not an easy process, and one that requires a good eye and some skill-building. Luckily, investors can now get expert help at www.FreeRealEstateMentoring.com, which offers free information tha investors can implement instantly for explosive profits.

The Right Way To Approach Your Mlm Warm Market – Without Chasing Away Your Family And Friends

Saturday, March 27th, 2010

If you’ve been in network marketing a while, then you know that the “warm market” is always the place to start when kicking off a new business. However, you also know that talking to your family and friends can be one of the most frightening, even intimidating tasks we can undertake, especially when we’re new.

Here’s something to keep in mind. This is the first impression of business building that most distributors get when starting off. Therefore, a positive experience in the warm market is absolutely critical in determining whether a new person will continue to move forward with their business or not.

If you’re like most distributors, you were taught (by a well-intentioned sponsor) to approach your warm market with a “selling” mentality. The kind that says go out and get your products or opportunity in front of everyone on your list. Now that might be OK for the cold market, but we’re talking about people that you know on a personal level here. These are the people with whom you don’t want to burn any bridges.

In addition, very often we don’t realize that even though we may be over-flowing with excitement, it can be very difficult for others to feel the same level of enthusiasm, especially if this is their first exposure to our products or opportunity. And without controlling our excitement, it becomes very easy to overwhelm people with too much information causing them to feel pressured or defensive.

So, the difference between success and failure in your warm market is all in your approach. There is a right way and a wrong way to go about it. The good news is, approaching your warm market the right way is a whole lot easier and fun than doing it the wrong way.

Now, before you start talking to people, there’s something very important to remember. No one on your list is looking for your product or opportunity. Therefore, you don’t want to just hit people over the head with your sales tools and hope they’ll be interested. They won’t. You must sort out the interested from the uninterested.

Furthermore, don’t make the “rookie” mistake of trying to guess who would be interested. So many times brand new distributors start out by saying things like, “I just know my brother-in-law is going to love this. He’s got sales experience, he’s energetic, he knows a lot of people, he would be perfect. I’m not going to talk to anyone ’til after I talk to him.” Then they end up chasing this person for days trying to convince them to join just to have them say “no” in the end.

Meanwhile, in the same time frame an experienced distributor has talked to 20 people, sorted out the 7 or 8 interested, and signed up 5. Here’s this principle in a nutshell:

“Professionals sort. Amateurs convince.”

Write that down, stick it where you can see it, and never forget it.

So, how do you go about sorting out the right people? It’s quite simple actually, but it must be done in a very passive way. Otherwise, if you’re too aggressive people will smell a sales pitch and run away, leaving you with nothing but a bad reputation.

There’s a very clever way to sort out people that doesn’t raise any red flags. Here’s how it works:

* Start by calling the people on your list with the premise that you’re simply updating your address book or making sure that the phone number you have for them is still valid.

* Strike up a very friendly and relaxed conversation by asking, “So what have you been up to?” Let them talk as long as they wish and don’t interrupt.

* Inevitably, they’re going to ask you the same question. Tell them about your life, NOT your business. Talk about your kids, your job, your hobbies, or anything. Then make a statement like, “Oh yeah, I also started my own business.”

* Of course they’re going to ask, “Oh really, what is it?” That’s your cue. Make a quick “teaser” statement like “I show people how to lower their cholesterol (or whatever your product does) and make extra money from home.”

* Then, immediately make a third person statement such as, “Hey do me a favor, if you know anyone who could use that send them my way OK.”

* Now, if they don’t respond in a curious manner, drop the subject and get back to the friendly conversation.

* However, if they say something like “What about me?” or “How does it work?”, congratulations you’ve got yourself a hot prospect.

Here’s what you do next. Stop the conversation right there. Control your enthusiasm and DON’T answer any more questions. If you allow your prospect’s questions to steer the conversation, they will always steer you right into the ditch, guaranteed.

Instead tell them, “Look, I’m still kind of new at this and still learning so let me send you some information on it so you can see how it works.”

NOW you can show them your company’s sales tools. Let the sales tools do all the work for you. And when you send the sales tools, send a couple extra with a hand-written personal note asking them to help you out by passing along your information. Your only job now is to follow up. Remember, the fortune is in the follow-up!

And THAT’S how you approach your warm market the right way. This simple strategy accomplishes 5 major objectives:

#1 It sorts out the right people for you so you don’t waste time, energy, or money on the wrong people.

#2 It takes the “selling” pressure off of both you and your prospect.

#3 It removes the emotional element of being rejected.

#4 It virtually eliminates the need to “overcome objections”.

#5 And most importantly, it preserves valuable relationships.

Just remember, everyone on your list is not a customer. Don’t try to guess who is and who isn’t. Just be yourself and let your prospects step forward on their own. And if you’ll do that, you’ll keep your friends and family and building your business will always be easy and fun.