Month: January 2009

Categories
Business Ideas

Bookkeepers Can Boost Home Bookkeeping Services By Advertising

bookkeeping.jpg
Internet and local media advertising are useful sources to start up and promote home bookkeeping services. By setting a financial budget for each sales channel the bookkeeper can manage the results to build the bookkeeping services.
There are numerous opportunities to advertise bookkeeping services although not all sources of new business will justify the marketing investment. An essential first step is to determine all potential promotion areas, set an expenditure budget for each and maintain a record of enquiries and fee basis for the bookkeeping services obtained.
Whatever the bookkeeper states in the advertisement it is important to include a reason for a potential client to respond. Key prompts to create response are the promise of savings and initial free meeting or even the offer of free services.
Advertising
Advertising the accounting and bookkeeping services in local newspapers can produce new clients but tends to be marginally profitable. Write the advert copy concisely using keywords to mention specific bookkeeping services of which tax tends to be the most popular and consider all publications within the geographical area.
Generally it would be unusual to find local daily newspapers producing little response, local daily evening papers quite expensive compared with the level of business generated and free papers offering a balance between the level of bookkeeping enquiries generated and the cost of advertising.
Monitor costs and response rates vigilantly as some media adverts will perform badly usually based upon circulation while other advertisements may not be cost effective. When a suitable responsive source is identified reduce advertising costs by taking longer term contracts but not too long as successful response rates can reduce over time.
Advertising accounting and bookkeeping services in local telephone directories in useful but highly competitive and often expensive compared with the actual level of business obtained. Despite the sales pitch from the representatives bookkeeping services are so competitive that the level of response may be limited to less than 5 enquiries per year.
A high proportion of new bookkeeping clients obtained from local advertising tend to come from small clients a number of which respond because they have inadequate accounting records and may also have financial problems. The quality of client obtained by advertising may not be the highest but can be a vital starting point when offering home bookkeeping services.
To improve conversion rates from enquiries focus the initial contact, usually by telephone, in arranging a meeting to discuss the requirements. At that first meeting the bookkeeping services can be presented and the price agreed.
Internet Advertising
Setting up a website provides a shop window for the bookkeeper to present the bookkeeping business in what is a highly competitive area. The bookkeeping website should be optimised for search engine rankings to achieve success. Due to the competitiveness it is difficult to rank high for high volume keywords and higher traffic levels are more likely to be achieved by identifying less popular keywords using keyword volume tools and targeting those words.
To optimise the website include the target keywords in the meta tag title, description and keywords. Ensure the target keywords appear in the text and the title and description have a high level of relevancy to the content on each page.
Writing articles using keywords as anchor texts the bookkeeper can improve search engine ranking. Buying links from link farms should be avoided and can cause a website to be penalised.
The website should state clearly the range of services offered and preferably the expertise in those areas. Submit the website to internet business directories. Submitting to high ranking directories such as DMOZ and manual submissions to specific accounting and bookkeeping directories is beneficial as relevancy is higher.
Pay for click advertising with the major search engines Google, Yahoo and Msn will drive targeted traffic to the website but should be strictly controlled within an acceptable budget.
The amount paid for clicks on specific keywords being monitored on a cost benefit basis and a definitive overall budget set for each campaign. Many of the highest traffic bookkeeping terms are simply not economical but many smaller volume words are overlooked and represent an opportunity to attract some business.
Joining business forums, including the website address in the signature and posting on a regular basis concentrating on assisting other forum users with expert bookkeeping and accounting issues will increase website traffic and also increase networking opportunities with potential clients for the bookkeeping business.

TerryCartwrightPhoto.JPGTerry Cartwright qualified as a Chartered Management Accountant and Chartered Company Secretary in 1971. A successful business career followed as Head of Finance for major companies in the UK and several consultancy appointments. In 2006 he created DIY Accounting producing Accounting Software for self employed and small companies that use simple accounts spreadsheets to automate tax returns.

Categories
Finance & Capital

Vat Registered Companies Can Claim Vat Three Years Before Vat Registration

taxSensitivity.jpg
When a business registers for vat the vat rate should be added to all sales from the date of registration. The standard vat rate is 17.5 per cent of the sales value. The value added tax added to sales is known as the output tax.
Value added tax paid to suppliers on purchases is known as the input tax. When completing the vat form the amount paid to HMRC is the total output tax after deducting the input tax.
Vat on goods purchased up to three years prior to vat registration can be reclaimed against the output tax liability. A business can also claim vat paid on services incurred up to 6 months before vat registration.
To be able to claim vat paid before the vat registration a business must have kept vat accounting records of items bought and sold to enable the business to claim vat on those items still in stock at the time of the company became vat registered. The vat claim for goods and services incurred before registration should be made on the first vat form after vat registration. A good accounting software package to enable record keeping is useful for this purpose.
Claim Vat on Goods Purchased Prior to the Vat Registration
A business can vat input on purchases made by that business for up to three years prior to vat registration provided those goods are also available for resale either as stock, raw materials or work in progress at the date of the vat registration and do not relate to exempt items.
If the goods were bought by another business, for example, pre incorporation then the vat claim would not be allowed. The vat claim would also be disallowed if the goods purchased have already been sold. In the same context vat on items such as petrol, gas and electricity would also be disallowed if they have been consumed prior to vat registration.
The vat claim is restricted when goods are used for personal and business purposes. The restriction being the proportion those goods are used for non business purposes.
Claim Vat on Services Purchased Prior to the Vat Registration
A business can vat input on purchases made by that business for up six months prior to vat registration provided those services do not relate to exempt items or goods that have already been sold before vat registration.
The services must have been bought by the registered business and as with goods purchased only the business proportion may be claimed.
Vat Accounting Records
In order to claim vat on goods and services purchased prior to registration the business must have kept accounting records which include valid vat invoices and there should also be an audit trail through the accounting records to support the completion of the first vat return.
When the first vat return is submitted and contains a large refund it is not unusual for the HMRC vat office to inspect the vat accounting records before authorising a refund payment.
The vat accounting should also include detailed stock records to demonstrate the goods on which vat is being reclaimed existed at the time of registration and also show when goods have been disposed of after vat registration
Detailed vat accounting records must also be kept of any services on which the vat claim is based. Those records stating the date received, description and should be capable of supporting the fact those services had been or would be sold after the vat registration.
If the items being sold are exempt from vat then the value added input tax cannot be claimed. If part of the goods and services being sold are exempt then only the proportion not exempt may be claimed.
TerryCartwrightPhoto.JPGTerry Cartwright qualified as a Chartered Management Accountant and Chartered Company Secretary in 1971. A successful business career followed as Head of Finance for major companies in the UK and several consultancy appointments. In 2006 he created DIY Accounting producing Accounting Software for self employed and small companies that use simple accounts spreadsheets to automate tax returns.

Categories
Franchise

How To Find A Franchise

franchisesicon.jpg
Article Contributed by Ray Haiber
As a franchise sales consultant I am often asked what is the best way to start the initial process of finding the right franchise business. Most of these individuals are still in the initial stages of thinking about buying a franchise, and don’t necessarily have a strong opinion either way about what type of opportunity they are looking for. My answer is that there are more resources available in today’s market then at anytime to find and research franchise opportunities. Below is a list of some of the most popular methods prospective franchise buyers can use to help narrow the search process and find the franchise business that’s right for them.
Internet Directories:
The fastest and most convenient way to begin the process of finding a franchise is via the Internet. There are now dozens of franchise opportunities directories online today that offer comprehensive listings of franchises for sale, including information about investment levels, training, availability, and how to contact the franchise company for more details. These directories are also a good source for free information about the general process of buying a franchise business. You may want to visit A few different directories such as franchiseopportunites.com, franchisegator.com, and azfranchises.com because not all of then will carry the same franchise listings.
Franchise Industry Publications:
Trade publications are another good source for general information about franchises available and franchising industry news. There are magazines available such as Franchise Times and Entrepreneur, as well as multiple online venues such as franchise-chat.com and franchisenewscenter.com that provide a wealth of free information about finding and buying a franchise.
Trade Shows & Conventions:
There are numerous franchise opportunity trade shows and conventions held through out the year and around the world. These venues offer the chance for individuals to discover and research new opportunities, as well as the unique opportunity to meet actual representatives of franchise companies they may have an interest in. Some of the more popular shows include the National Franchise & Business Opportunities Show, and International Franchise Expo.
Franchise Consultants & Brokers:
Franchise Consultants and brokers work with as little as a few to dozens of different franchise concepts in their database that they generally have in depth knowledge about. Considering the thousands of different franchise opportunities that buyers can choose from these days, they can be effective in helping a prospective buyer narrow their search by first qualifying them, and then showing them opportunities that could be a potential good match. Since the majority of these consultants are paid a referral fee or success fee by the franchisors if one of buyers they introduce moves forward, the buyer generally has no direct expense associated in engaging a franchise consultant to help them.
Some of the potential downsides to working with a franchise consultant can include that some only represent a few or a limited menu of franchise concepts which can potentially limit the prospective buyer’s exposure to seeing all the opportunities available in the market. And like some sales people who work on commission, the motivations of the consultant may some times not be entirely consistent with the prospective buyer’s best interest or goals. But I would say overall, that the franchise consultant industry has a very good reputation for treating their clients fairly and professionally.
Business Brokers:
Many professional business brokers are also franchise consultants, and they also can be an excellent source to find existing or established franchise business for sale in your local area if you decide to go that route. Business brokers generally also have good working knowledge of how franchising works, and can often be very helpful to a prospective buyer because of their inside knowledge of the local small business market. You can find a local professional business broker in your area here by searching this business broker directory.
Hit The Streets:
Another good and obvious way to find a research a potential franchise opportunity is to scope out and visit existing franchise businesses in your local area. There is no better validation that a franchise opportunity concept works than seeing a busy store or restaurant full of customers. And if they are available and have the time, you may also want to ask the owner about how business is going, are they happy with the franchisor, and would they recommend this opportunity.
About Author:
Ray Haiber has 10 years experience as a professional small Phoenix Arizona Business Broker and franchise consultant. Go here to view and research franchise opportunities for sale throughout the USA including master and multi-unit opportunities.

Categories
Online Business

How to Convert More Website Traffic into More Customers & Sales by Inviting Prospects to Take Action

websitetraffic.jpg
Article Contributed By Adam Hommey
As an internet marketer and a webmaster for internet marketers, I get frustrated when I visit a website and end up flipping through pages of content that doesn’t lead to anything. Most people’s website content doesn’t tell me what the next steps are. And, they don’t tell me what actions I should take. So how can they expect to convert their website traffic into more customers and sales?
Every page on your website – regardless of its purpose or content – needs to guide your visitor to the next step.
Obviously, your sales page leads visitors to click to the secure shopping cart order form so they can buy from you.
Your special report download page guides visitors to enter their name and e-mail address and hit “Submit” so they can be added to your mailing list.
But what about your “About Us” page (which contains your bio), your “Media” page (which lists all the major outlets in which you’ve been featured), and your “Contact Us” page?
Here Are 3 Easy “Calls to Action” to Convert More Website Traffic into Sales on the About Us, Media and Contact Us Pages
1. On the “About Us” page, after your bio, add a powerful client testimonial praising your expertise and your measurable and specific impact on the client’s bottom line. Then add the line “Ready for these kinds of results in your organization? Click here to get started now!” (This links to the contact page).
This call to action, in fact, can be used for any page that does not have an obvious “next step.” Just make sure the testimonial ties in to the page content. If the page is a list of your keynote speaking topics, have the testimonial be about how your keynote set an awesome tone for the entire conference, not about how helpful your sales department is to your customers.
2. Your “Media” page should not just be a collage of logos. It should contain short videos of your TV appearances, audio clips of your radio interviews or featured-expert interviews on teleseminars. It should also include links to the articles where you were quoted or links to your articles that got published on the top websites. Let the world see what a sought-after, in-demand expert you really are.
With that being said, a simple, but effective call to action would be, “Sarah B. Marketer looks forward to being the featured expert on your next program. To schedule her appearance right now click here.” (This links to the Contact page.)
3. The Contact page, by definition, is a call to action. It needs to take your visitor by the hand and lead them through the next step.
It should not just be a page that displays your mailing address, phone number, and main corporate e-mail. Rather, it should lead with a paragraph that congratulates the reader for their decision to take action. Then, it should explain the process for getting in touch with you. It should also describe what someone should expect once they contact you.
Next, guide them through a simple web form that asks specific questions. This way you can do your homework and present prospects with a specific response and action plan. Make sure to keep this form as brief as possible, and only ask questions that directly inform how you and your visitor would do business together in the near future.
Having a web form, rather than just a link to your e-mail address, guides your visitor to take a specific action. This raises their level of commitment to you and increases your chances that they will buy from you.
Bottom line: Make sure that every page on your website provides a roadmap for your visitor with a specific call to action. This is the only way your prospects will reach the destination that you prepared for them. And, it’s the only way you will increase your website sales conversions.
About the Author
The Website Surgeon, Adam Hommey, increases website sales conversions for entrepreneurs, small business owners and Internet marketers just like you who want to make more sales now. To see where you’re actually losing money on your website, get a live website review at http://www.livewebsitereviews.com

Categories
Sales & Marketing

How to Get More Referrals, More Prospects & More New Clients During a Recession

clientspic.jpg
Article contributed by Joanne Black
It’s hard enough to get more prospects and new clients during a booming economy when people have money to spend. When the global economy takes a nosedive and freefalls fast, it’s 100 times harder to get prospect to talk to us.
So, how can you get more referrals and more NEW clients in a lagging economy?
It’s straightforward: The answer to getting more referrals and more new clients during any economic situation is to ask.
How many of your clients have you asked for referrals? When I ask this question to salespeople, the usual answer is “not many” or “hardly any.”
For example, I was working with the president of a consulting firm. I asked him how many clients he had—counting all the people he worked with, not just the number of companies. He told me 295. Then I asked him: with how many of the 295 did he have excellent relationships.
His answer: 60.
I then asked him how many of the 60 he had asked for referrals.
Silence.
Sixty of his best, most valued clients were just sitting there. These clients were an underleveraged source of referrals that could be bringing in more clients.
If you’re not inviting your current clients to be part of your sales team, you’re leaving money on the table – every single day. If you ask them, they’ll be happy to refer you. But, you have to ask.
If you’re a good salesperson, you probably have at least 100 people on your prime contact list. These are people you could phone, and they would return your call. If only 20 percent referred you, you’d have 20 new prospects to satisfy. Once you satisfy them and once you actively cultivated relationships with them, they can become part of your “sales team.”
Can you see where this could lead, and how much business that could generate?
Real Proof Why You Should Ask Your Clients for More Referrals
In a survey of its best clients, a major brokerage firm asked: Would you be willing to refer your stockbroker?
The survey results: A whopping 84 percent of its best clients would be willing to refer their stockbroker. Eighty-four percent.
The firm asked brokers: What percent of the time are you asking your clients for referrals?
The answer: Only 15 percent.
Their clients were absolutely willing to refer them, but the brokers were not asking.
You can easily see how a fabulous opportunity was overlooked. Think about how much money the brokers were leaving on the table. Those referrals could easily have generated millions of dollars in revenue for the firm, if they’d been maximized.
The Hard Fact: Your Clients Will Help You Get More Prospects and New Clients – But You Need to Ask
The hard fact is most clients think of us only when they need us. It’s up to you to get them thinking about you between orders. Your clients are not going to automatically refer you. You must constantly remind them that you exist, so when a referral opportunity arises, you’re the one who gets it.
The clients you serve well – the ones who know you, like you, and trust you -truly want you to be successful. After all, they know what you do and they’ve received measurable business results from your solutions. Referring you will make them look good to their customers and business partners.
So are you now ready to get more referrals, prospects and clients right now?
Top 5 Tips to Help You Get More Referrals During a Global Economic Slowdown
1. Review your database and gather information about your current clients. Find out:
– What percent of your current clients were referred?
– How profitable are your current clients?
– Have they bought additional products from you?
– How often have you contacted them?
– How many have referred you to other clients?
2. Put a plan in place to check in with your clients and find out what they need.
3. Make a note about why they like working with you.
4. Ask for ways to improve.
5. Invite them to help you build your business through referrals and ask them to refer you.
Your current clients are going to be your best source of referrals. They’re just waiting for you to ask.
It’s time to ask. What are you waiting for?
About the Author:
America’s leading authority on referral selling and founder of No More Cold Calling, Joanne Black, helps salespeople, sales teams, and business owners get more referrals and attract more business fast without increasing costs. Discover how to turn prospects into clients more than 50 percent of the time, even during a down economy, with her Recession-Proof Your Business Emergency Kit at: http://www.nomorecoldcalling.com/products.html