Tracking Revenue For MORE Profits
The revenue history is a vital piece of your power page and you need to record that information. Keeping track of client revenues should not be done in a paper format, it should be recorded electronically. It is too easy to make mistakes when calculating by hand, the results of the data entry can then be recorded into your power page. You need to date these numbers as they can change quite rapidly and you will want to know if there is a growth pattern. You will also be aware of diminishing returns and flat areas. Familiarize yourself with how they report earnings because each company has their own unique way of presenting the information to the public or its employees. You are probably asking yourself why you would bother tracking financial earnings of a company you are doing business with, or even one that is not yet a client. Believe it or not, financial information gives hints as to the success of the sales force, the marketing efforts, and the leadership of the executives. The financials can paint a picture that says more than what you are being told. If you still do not believe me, read through the next example.
John B. was getting ready to submit a proposal to company Z; he had some solid ideas about their marketing and sales strategies that would lead to further revenue generation. He checked the financials for the last six quarters and saw that they had very limited growth. He thought this strange as the products they sold were in great demand and they were running at capacity. As he started to dig further into the story, he found that they did not want to grow anymore and were just interested in the status quo. The company was in the process of being absorbed by a larger firm and the CEO was ready to retire. If John had not used his power page appropriately, he may have sent a premature proposal that would have been a waste of time for himself and his customer.
Even though this is a sad story for John, he learned his lesson about doing his research on the financials. He now looks at these before writing a proposal for improvement. What we sometimes view as pain is not pain at all but is simply some other issue at work behind the scenes.
Bette Daoust, Ph.D. has been networking with others since leaving high school years ago. Realizing that no one really cared about what she did in life unless she had someone to tell and excite. She decided to find the best ways to get people's attention, be creative in how she presented herself and products, getting people to know who she was, and being visible all the time. Her friends and colleagues have often dubbed her the "Networking Queen". Blueprint for Networking Success: 150 ways to promote yourself is the first in this series. Blueprint for Branding Yourself: Another 150 ways to promote yourself is planned for release in 2005. For more information visit http://www.BlueprintBooks.com
Franchise Company Operations Manual Sample Outline
Many companies wish to expand and a few wish to use franchising as a method of expansion. Not a bad idea, but one must consider the importance of the fine details. One book I recommend you read is the "E-Myth" by Gerber it is available at all the usual places. You see when going from a small business to a franchise company it is important to make sure you take out all the mistakes you have made in the past in building your small business and insure that your future franchisees never make those mistakes themselves. After all they need not go thru the rigorous minefields and brick walls you had to in order to be successful. Especially considering you will most likely be charging them a substantial upfront franchise fee.
Operating Your Small Business ? Everything Really Is a Project
Do you operate your business as a series of projects, using project management tools and skills to advance your projects from conception to completion? Or perhaps you're new to project management tools and skills and haven't considered applying them to your own business? Most of us fall somewhere in between.
Creating a Dynamite Account Plan
Why do you need an account plan?
Franchising and Royalty Payments
If you are thinking of turning your current into a franchising company you will need to determine a fair and equitable franchise royalty fee. There are a number of questions you will need to ask yourself in determining this fee such as what services you will provide to your franchisee team and what that will cost. You will also need to take a look at the competition to determine the amount that you can honestly charge without forgoing cost conscious franchise buyers.
Common Sources of Financing for Small Business
The choice of financing is an important determinant of whether a product reaches the market, or whether an existing business can survive. The choice of financing is an important part of being an entrepreneur and business owner, and the ability to raise cash when you have no or limited history takes skill and creativity. There are a number of sources of financing. The suitability of the alternatives depends on what stage you are at, and will change as the company matures from stage to stage. The following outlines the most typical forms available.
Write An Effective Job Proposal
I am simply amazed at the problems some of my colleagues are experiencing regarding writing job proposals for customers. So often I hear that there has been some sort of disagreement between client and service provider, something that can and should be avoided before a project is started. Here are four tips to help you write an effective job proposal letter.
The Workers? Compensation Situation in this Country is Nuts, Arnold in CA Takes Action
The Workers' Compensation situation in this country is unbelievable. Why, well because of lawsuits and attorneys mostly. The costs of workmen's compensation on the business community is part of the reason for the slow return of high paying blue collar jobs in this country and the demise of the manufacturing sector. The system covers some 122 million workers nationally, but it is regulated state by state, not nationally and there is nothing close to being a Federal Oversight on this, not that I or anyone else cares to add another layer of bureaucracy to an already broken system.
To Buy A Fat Pig
What does buying a fat pig have to do with your business? Stick with me and all will be revealed.
How the Humble Ice Cube Made Business History
Gather round while I tell you the story of Kennebec Ice. It's a story full of valuable business lessons even though it happened long ago.
Your Ideal Client ? A Key Concept for Solo and Small Business Marketing
"I don't know the key to success, but the key to failure is trying to please everybody."--Bill Cosby
Bringing Home the Bacon
In general, all of us know how to accomplish the task and get the work done. The problem is in how to actually 'get paid' for what we do. If you, like me and most of the entrepreneurs I've worked with, have completed the project, turned it in and been left holding the proverbial bag waiting to be paid for months on end, you are probably just as tired of that scenario as the rest of us. So what can we, as entrepreneurs, do about that particular scenario?
What Happened to the Money and Freedom?
Ask anyone trapped in a cubical about their entrepreneurial dream and they will tell you, "I want to own my own business. I'll make more and have more time."
Small Business Ideas - Your Image Can Lose You Business
What image do you and your people portray to your prospects and clients? Here's a situation that happened to me recently and hopefully you'll glean useful small business ideas that will make you money instead of costing you money.
13 Steps to Protect Yourself from Your Bank
The success of your business is critically dependent on how well you negotiate and manage your financial partners. Banks, investors, credit cards and financial services companies work for you. Therefore, you need to be sure you are working together, understand the plans of each and have the best idea of what and how things will happen when times get tough.
Franchisor Prospect Checklist Sample Form
Due to the over regulation in the Franchising Industry and the litigation it is important to keep impeccable records. From the first phone call, email to the signing of the franchise agreement everything should be documented. Below is a checklist we created for our franchise company and one I wish you would consider when creating your own. I recommend you copy this article and then modify it to fit your business model.
Should I Franchise or Not?
A reader of one of my online sessions asked should he franchise his business or not. He had set up a service business and was getting ready to expand and wanted to know if franchising was a good potential strategy for this. How do I franchise my business? There are many criteria for franchising and if you have ever thought you might wish to franchise your business then this advice could be of value to you:
The More you GIVE the More you GET
Why give freebies?
Window Cleaning Business Start Up
Should you buy a business opportunity or Franchise if you want to get into the window cleaning business? Or just start your own and work hard; grow the business into a full-time profession and expand from there? Let us talk briefly about window cleaning franchises is in general.
Do Home Businesses Complicate Small Business Debt Collection Laws?
The home-based business market, sometimes called the SOHO (small-office/home-office) market, is booming. As more and more B2B businesses expand into these markets, they may find themselves walking a fine line between B2B and B2C.
Expand Your Professional Organizer Business
Grow your Professional Organizer business by branching out into related areas. If you have been doing the same old thing for a while, and are comfortable with it, it may be time to stretch your capabilities and offer something new.
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