Month: April 2008

Categories
Sales & Marketing

Five Ways to Market Using Email

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There are many ways to market a home-based business. But one of the simplest ways is to use an every day business tool – email. By using these five easy tips you’ll see how easily your business can grow without much effort on your part.

1. Use a Professional Signature – This is an important tip to use on every email that you send. Even your friends may not always remember your website address or business phone number and will quickly look to an old e-mail to look it up.

When preparing an email signature it’s important to include Your Name, Company Name, and your Physical Address or Website Address.

You may also include your phone number. Below is a sample Email signature:

Jill Hart
888-241-0990
Christian Work at Home Moms
http://www.cwahm.com

The signature is simple, easy to read and includes a link directly to my website. It is very important to include the http:// before the website address because many email programs will not link the text to your website without this (it will appear as text – not a link).

Also, make sure that you double check that you have your website correct. Often times I’ve found that people have their website wrong by inverting a letter or two and aren’t aware of it. It cannot only lead to a loss of a sale, but it shows less professionalism on your part.

You can also use a virtual business card as your signature. You can design and purchase your own virtual business card at http://www.vistaprint.com. There is a very small cost – less than $2.00 for this professional looking virtual signature file.

2. Find a “Signature Buddy” – This is an easy and cost-free way to spread the word about your business. Ask a colleague or friend if they will “swap” a line in their signature with you. You will add a line at the bottom of your signature with a link to their business and they will do the same.

Jill Hart
888-241-0990
Christian Work at Home Moms
http://www.cwahm.com
Publishing and book marketing – http://www.virtualwordpublishing.com/

The signature “swap” can be as simple as a line (as above) or as much as a 2 – 3 line testimony of why you’re recommending this link. You can find a permanent signature “buddy” or change it weekly or monthly.

3. Send Email Coupons – This is a great way to network using email. Send a special coupon by email that is available only for those that receive your emails. You can also extend this to a newsletter if you have one. Offer a special coupon for anyone who signs up for your newsletter!

You can send other specials by email as well – special offers, free gifts, ebooks, etc. There are many ways that you can utilize your email to bless your customers and colleagues.

4. Create a Custom Background for your Email – This is easier to do than it sounds. If you are using Microsoft Outlook or a similar program, you can find directions on creating your own custom signature online at places like http://www.mailmsg.com/outlookstationary.htm.

Custom email stationary can take a plain email and make it look professional. I include my logo and my website name in my custom background. Be sure to make the picture “light,” so that it does not compete with the text of the emails you’ll be sending.

5. Send Thank You Emails – In this day and age it is very acceptable to send a Thank You card via email. This is an easy way to thank customers, advertisers, and even newsletter subscribers.

You can create you own Thank You or use a program like Yahoo! Greetings. Many of these programs have free e-cards that you can send as well as a paid version with additional designs. Another great place is Hallmark.com where you can get customized greeting e-cards for any occasion, free. It’s a great way to remember your client’s birthdays or perhaps a special day in their business.

You can even set up an auto-responder to send the Thank You automatically. There are many auto-responder programs for you to choose from and many website hosting companies will provide you with one, you’ll just need to go in and set it up.

One great thing about an auto-responder is that you can set up when the email will be sent, what will “trigger” the auto-responder and what the email will say. This way, any time you receive an order, the customer receives an email immediately, even if you’re not available.

One downfall to auto-responders is that they can seem impersonal. However, you can overcome this by taking the time to write a personal note to your customers and use this as the auto-responder email.

Can you see how beneficial e-mails can be for your business? When you use a professional looking signature, find a “buddy” to swap lines in your signature, personalize your email background, use auto-responders and any other items that you are able to customize, you’ll never look at email the same way again. Marketing can be inexpensive and effective when you know the right ways to do it.

Categories
Planning & Management

Plan For Success

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As a solopreneur there is always an endless list of projects that we want to work on or need to complete in order to grow our business. If we don’t plan properly and build in time to work on these projects we can very quickly become overwhelmed, and in the end we don’t complete anything.

This first quarter I’ve launched two products, revamped my website, hosted a teleclass series, and launched a new service, all of which have been achieved without sacrificing client work, and without staying up until the wee small hours of the morning!

So, how do I achieve all of this, and still manage to have some free time?

Quite simply, I plan! And today, I’d like to share with you my top five tips for planning for success!

1. Create a Project Planner. I have my own one-of-a-kind List Building and Marketing Workbook that I use to plan which projects I am going to work on and when. This spreadsheet is at the heart of my business; I keep it handy so that I can refer to it often, and I update it on a regular basis.

It sets the scene for projects that I want and need to complete for the year, although I don’t necessarily plan out the whole year in advance! I plan by quarters. That makes it much easier and more achievable than trying to plan out the whole year, although I may add projects to my planner well in advance!

2. Create a Timeline For Your Projects. Are there some projects that you can’t complete or begin work on until you’ve completed a previous one? For example, one of my projects this year is to set up and run an affiliate program for my products; however there is really little point in me working on the affiliate program until I have some products to sell! So first I need to create and launch the products, then work on the affiliate program. So when planning for this, I know that I can add affiliate program set up for at least six months ahead.

3. Set Aside The Time To Work On Your Business. I have one day a week that I set aside for business development and marketing activities, such as developing info products, writing my newsletter, submitting articles, or some other activity on my List Building and Marketing Workbook. On this day I don’t do any client work (if a client has an urgent project then I may have to rethink) but as a general rule this is the day and time I have set aside to work on my business.

4. Plan The Time For Client Work. Set aside specific days/time each week that you are available to work on your client and income generating activities so that they do not get overlooked. Put this time down in your calendar so that you will stick to it.

5. Do Not Allow Yourself To Get Distracted. The truth is I only have a very limited amount of time during which I can work with my clients and work on my business. The time I do have I protect it closely and really focus on what it is I need to do, whether that’s client work or working on my business. During this time I won’t let myself get distracted by going off and reading emails, becoming involved in discussion groups, or even running personal errands.

By really focusing and making the best possible use of the limited time you have available, you can can achieve A LOT! I know I do!

Categories
Finance & Capital

How Credit is Managed Speaks to a Company’s Attitude

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Whatever you believe is true…at least to you.
Averages, don’t you love them? What mama ever said to her children that the goal in life
is to be “average”?
Lowly manager…Largest asset
Sometimes it’s more but on “average” 40% of a business’ assets are in the form of
accounts receivable…short term money due from the sale of a product or service. In direct
contrast to the size of the asset that they are responsible for creating and managing,
credit managers are most often lower echelon managers who are at the very least one
step removed from the corporate decision makers…and their paycheck reflect it.
Forget the traditional organization chart with branches that in turn branch off and so on.
Instead of organizational charts think of totem poles…the carved columns erected by
the Native Americans of the Pacific Coast.
Totem poles are representations of men and animals and of their relationship. Now
forget about corporate titles, initials after names, and the size of the paychecks earned
by different business managers; instead focus on their ability to influence profitability.
Where would credit managers sit on the totem pole; close to the top, in the middle,
at the bottom…if at all?
The Pay Back
When allowed, encouraged, and supported by “upper management”; credit managers
can and should seek to find ways to say yes to new profitable sales, to keep existing
credit customers current and buying and to identifying and communicating cost reducing
opportunities for improvement through out the entire business chain of suppliers,
sellers and customers.
A credit application can represent the successful result of marketing and sales efforts,
a customer wanting to buy, or a risk for non-payment…of loss if the customer fails to pay.
Corporate attitude will determine how performance is measured and if DSO (days
sales outstanding) and % bad debt are used the message to the credit manager is clear,
“be real careful who is approved for credit and if a credit customer fails to pay within
terms ..throw them on credit hold/stop”. The end result of focusing on and measuring
for risk will be great DSO and bad debt numbers …but at what cost/loss?
Instead of measuring for risk a company should measure for profit and if it does credit
approval becomes the process of finding a way(s) to say yes to profitable sales . The
profit measurement looks at the % of applied for dollars approved, or exceeded.
Measure for profit and past due A/R management (it’s not collections) becomes the
“Completion of the Sale” with the goal being to keep credit customers current and
buying. With repeat sales often being the most profitable, companies should measure
for % of credit customers current…and buying. If the total credit line (never credit limit)
for all credit customers is $10,000,000…what % of the total line is being utilized?
…and are those customers with an unused line being encouraged to buy more?
A secondary goal of Completion of the Sale (past due A/R management) is the
early identification and control of the small % of past due that represent a potential
for loss…type two financial serious and type three avoiders.
The largest percentage of past due A/R are tied to something going wrong. On
“average” 70% or more of past dues are type two system related…something went
wrong somewhere. In the process of identifying, fixing and communicating those
things/processes that have gone wrong; the credit area can help drive down
everyone’s costs. Constant improvement in how things are done provides a
payback far greater than more new sales, repeat sales, and improved cashflow
combined.
Numbers and results
Payment on account and expectation fulfillment are linked. If a customer orders
a green “whatever” and is shipped a blue “whatever” the seller shouldn’t expect
to be paid. Employees are kind of like that; they tend to go with the flow , with the
expectation. If credit managers are low paid, if they are thought of as the “ugly
step-child of accounting” and if their performance is measured by DSO and bad
debt loss…not much is being asked nor is likely to be delivered. On the other hand
if a company measures for profit…for new sales, repeat sales and improved
efficiencies…cash flow and bad debt will take care of themselves.
Total Cost of Business
On “average” 25% or more of the total cost of doing business is tied to inefficiencies,
to things not being done as right as possible the first time. And not to be repetitious,
but the credit manager in a company is like the man following a parade with a shovel
…when something goes wrong the customer doesn’t pay and in the process of fixing
things the credit manager interfaces with just about every aspect of business; and if
asked the credit manager can point out improvements that drive down everyone’s cost
of doing business.
Summary
Whatever you believe is true and it’s the same for companies…whatever they measure
for defines their thinking, their attitude.
The full profit potential of a business is influenced by its attitude toward the credit
function and to Credit’s placement on the corporate totem pole.
And if your company still measures for DSO and % bad debt…your attitude is showing.

AbeWalkingBearSanchezPhoto.jpgAbe WalkingBear Sanchez is an International Speaker / Trainer / Consultant on the subject of cash flow / sales enhancement and business knowledge organization and use. Founder and President of www.armg-usa.com, WalkingBear has authored hundreds of business articles, has worked with numerous companies in a wide range of industries since 1982 and has spoken at many venues including the Shakespeare Globe Theater in London.

Categories
Success Attitude

When a Goal Becomes a MUST!

must%20have.jpgPeople who achieve their goals are those who are truly committed to get what they want. To them, their goals are not a mere wish or a weak desire. They are an absolute must.

When a goal becomes a must, we operate from a very different frame of mind.

When something becomes an absolute must, we will do whatever it takes to get it (within ethical, legal & moral boundaries of course).

When something becomes a must, we will stretch well beyond our comfort zones and keep changing our strategy as many times as it takes.

Time and again, you will notice that people who succeed are those who show this level of commitment. In fact I believe that failures, setbacks and frustrations are life’s ways of testing our level of commitment.

Most people fail this test by quitting when they hit major obstacles. The few who succeed do so because they do whatever it takes to overcome obstacles.

I truly believe that when something becomes a must for you, and you are willing to do whatever it takes, you will always find a way!
For most people, achieving success in anything is rarely a must. They would like to lose weight, but it is not a must. They would love to make more money, but they won’t die without it. They wish they could take charge of their lives, but they could live without it.

The moment something becomes a ‘should’ instead of a ‘must’, you will rarely achieve it. You will always find a way to put it off or to quit the moment you meet resistance.

People like Sylvester Stallone, Steven Spielberg or a Donald Trump who achieve success are not born more focused, more disciplined or more lucky than the average person.

What makes them different is that they make their goals a must for themselves. They are not willing to accept anything less than the best.
So let me ask you a question.

Are your dreams and goals an absolute must or are they just weak desires that you can live without? Have you been truly committed to do whatever it takes in the past or have you quit and given yourself excuses along the way?

If you haven’t then it’s time you take yourself and your goals seriously because if success isn’t a must for you then there is no way that you can become successful. Because success only reserves itself for people who want it bad enough to make a MUST!

Categories
People & Relationships

5 Great Ways to Use Spreadsheets and Stay Organized!

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Does just the mention of the word ‘spreadsheet’ cause your mouth to go dry? Do you immediately think of sums, formulae, and figures?
Well fear not any more — I’m here to tell you that spreadsheets aren’t just for sums!

I’m going to share with you my favorite top five tips on how you can use spreadsheets in your every day business to help you keep organized and on top of your work – and there isn’t a formula in sight!

No.1 ‘To Do’ List

How do you manage your day-to-day tasks? Do you have a notebook for your To Do lists and cross out each one as you go along? Or do you have little yellow post-its stuck all over the place? Is this really the best way of managing your daily tasks?

Spreadsheets are a great way for you to organise your To Do list. Set up headings in the first row and add your tasks below. You can then sort your list by any column that you choose, making it an interactive To Do list. And best of all, your list is contained in one place.

Create a shortcut to your To Do list and place it on your desktop so that you can access it easily, or just keep it open and minimise your screen each time you’re not using it.

No.2 Log Registration/Password Data

Another great way to use spreadsheets is to keep track of all those websites that you’ve registered at, and need to insert a username and password in order to gain access to.

Even though I try and keep to the same username/password I sometimes find that a website will require you to insert your username or password in a certain way, with digits as well as letters, or a minimum of six characters etc. etc. and then it starts to get confusing remembering which username/password for which site!

Set up a spreadsheet to track key data, and keep tabs on this crucial information in one easy-to-use place. As your list starts to get longer, you can also sort your data into alphabetical order, making it even easier to find your registration details.

No.3 Create a Simple Mailing Database

Another great use for a spreadsheet is to set up a simple mailing database. Perhaps you’ve researched a target market and want to send them a mailing. By creating a spreadsheet to input their name, address, phone number, email address, and website you can easily keep a track of your data.

You can also use this data to carry out a mail merge via Word. Create active hyperlinks for the email and website addresses and you can email or visit their website directly from your spreadsheet.

And if you add an additional column for ‘Responses’ you can simply monitor your success rate too!

No.4 Track Potential Clients and Follow-ups

If you regularly have enquiries from potential clients, whether they’re phone calls or directly via your website, you can set up a spreadsheet to track this data. You can see where your enquiries are coming from, which method of marketing is the most effective, and if the prospect turned into a client.

You can also add an additional column for ‘Follow-up Date’ and perform a sort on this column so that you know who to follow up with and when!

No.5 Monitor a Project/Activity Planning

Because spreadsheets also accept date formats they are a great way to track projects or plan activities. You can easily use autofill to create a date timeline too. Use the column headings for your dates, and the rows for your activities.

As you work along the timeline, you can hide the columns with past dates, showing only those columns for current and future dates. And if you want to be really creative, use different colours for the cells to represent different activities.

There are so many more projects that you could use a spreadsheet for that don’t require you to input complicated formulae. When I was compiling this list for you, I thought of twice as many again, all of which would help you to organise your day-to-day business activities.