Author: Ethan Theo

Abe 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.

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Operations

The Power of Outsourcing: 3 Ways Warehousing and Distribution Services Can Improve Your Micro-Business


The world of business continues to evolve at a frenetic pace. As new business start up their operations, or as established businesses make an attempt to grow, there are certain factors that can help boost the success level they will achieve. One constant and sound piece of advice from the experts in the world of business is to stick to what you do best. For many businesses, warehousing and distribution is not what they do best. These two aspects of business, however, are essential to immediate and long term success. Outsourcing the warehousing and distribution services is one way that businesses are building their capacity and seeing greater profits from one quarter to the next.

Why Do Businesses Outsource Their Operations?

The main answer to this question is that many businesses simply don’t handle the warehousing and distribution services they need very well. Many businesses have found that if they stick to the work they are really good at, and outsource the work they struggle with, then they are going to see greater amounts of success. This trend in business has allowed companies like Atlantic Rack to find their niche in this competitive outsourcing market. As the seasons change throughout the year, many companies also see a corresponding change in their inventory and sales levels. As inventory and sales change, there will be a necessary change in shipping and transportation as well. This is another reason why outsourcing this work can be more efficient and effective.

How Does the Cost of Service Affect This Process?

Businesses really only have a few options when it comes to warehousing and distribution of their products. They can lease or purchase the space needed to house products and do the same with the vehicles needed for transportation. The other option is to outsource the work, and allow a third party to be responsible for those items. There is a cost to outsourcing the work, but there is also less risk because money doesn’t have to be spent up front to secure the space and transportation. A decision on the cost benefits of outsourcing is something that the financial experts within a company will analyze in order for the company to make an informed decision.

How Does a Business and Third Party Logistics Firm Build a Good Relationship?

Positive relationships are one of the cornerstones of any successful business. This principle holds very true when it comes to a business outsourcing their warehousing and distribution work. One of the most important aspects to building a positive relationship in this scenario is to make sure that the decisions being made by the outsourcing company align with the goals and vision of the business that has contracted with them. Another aspect that is key to building a positive and successful relationship is having a clear focus on being detail oriented so there is no miscommunication or confusion when it comes to order fulfillment, order volume or shipping times.

There are some advantages for a business to handle their own warehouse and distribution services. Doing things in house allows for some flexibility and it can be a cheaper way when just starting out. For businesses to truly grow and reach their goals, however, it seems that outsourcing the warehousing and distribution work is a good choice.

Categories
Operations

Solving The POS Problem For Small Businesses

As a small business owner, the right POS system can serve as the heart of the operation, not only processing transactions, but also maintaining inventory and handling CRM. The only problem is that comprehensive programs of this sort can far exceed your business’s budget. So what’s the compromise? An increasing number of providers are bridging the gap with the goal of providing small business owners with affordable, comprehensive POS systems.

Transaction Costs

Small businesses typically look for a few key elements in a POS system, as exemplified by some of the current top performers. First, they need a basic card swipe system. In the past, companies typically rented card readers, paying a set rate each month to process transactions. With new devices, though, companies often pay per transactions, which makes the process more expensive. Square, one of the more popular platforms, for example, charges 2.6% + 10¢ per transaction, a comparatively reasonable rate.

There are lower rates out there, but typically you can only get them by opting for a lower quality system. Sam’s Club charges 1.29% + 15¢ through Clover, a free app, but the tool doesn’t do much besides run transactions. The same goes for Costco’s POS. In other words, if you want a POS that does more than run credit and debit cards, the affordable options may not really be options at all.

Hardware Pricing

One of the prime reasons that small businesses opt for systems like Square, PayPal, or even Sam’s Club for their POS needs is that budgets are already tight; small businesses are constantly hemorrhaging money just because they’re badly organized or have a lot of employee turnover. Luckily, the hardware for these basic systems, often known as a dongle, typically runs between $50 and $100. That falls within a small business budget, and it leaves room for other processing fees, such as those assessed by the credit card companies themselves.

Of course, if you’re looking for greater functionality in your POS system, you may have to resign yourself to paying a lot more – a complete restaurant POS system typically costs $1,000, minimum, but is usually more. And don’t forget to tack on any fees assessed by the credit card companies. As Sobel & Co. describe in their paper, “Check Out Fees Causing Headaches for All,” and their more recent updates, card companies wield significant power over fee assessment, and that’s on top of whatever charges the POS company applies.

Balancing Functions

Since most companies can’t afford – or don’t want to pay – thousands of dollars for their POS system and added fees, one option for businesses is to choose a free POS with paid functions. For companies that choose this option, the first step is to decide what operations the system needs to perform. Do you need your POS to do inventory, or does your business operate well with a separate inventory program? What about employee management? Some POS systems will handle scheduling and can separate users, while others are limited to a single account. The possibilities are endless.

Once a business has narrowed down its needs, it’s easy to determine what affordable options remain in play. Square is heavy on analytics and product listings, but some find the percentage fee too high. Other popular, free POS systems like Loyverse perform well offline, with a reasonable fee schedule for adding on employee management. It’s all about finding a system that’s affordable, intuitive, and a good fit for each business. But at least now small businesses have options.

Choosing a POS system remains overwhelming for businesses, but affordable and functional options do exist. Though high-end systems remain the gold standard, most have more features than even large businesses can use. You’ll be better off finding a POS system that’s just the right size for your small business.

 

Categories
Sales & Marketing

Failure is Part of Success: 5 Important Lessons You Can Learn From an Unsuccessful Marketing Campaign

Marketing campaigns don’t always work; sometimes even the most brilliant campaigns fall at the final hurdle. In 2017 alone, we saw dozens of high profile marketing fails, with the Pepsi/Kendall Jenner “Black Lives Matter” attempt topping the list. The campaign that was supposed to convince more black people to purchase Pepsi, the campaign which featured Kendall Jenner magically settling a standoff between protestors and public policy by offering an officer a Pepsi backfired big time, becoming a laughing stock on social media and attracting widespread public backlash.

And that’s just one example. There were many other high profile epic failures in 2017, costing marketers millions of dollars.

It’s possible that you too have experienced similar failures, even if not on a similar scale. Perhaps you dedicated the chunk of your marketing budget to a TV commercial and all it did was embarrass you with zero returns on investment. Or, if you haven’t, you could experience such a failure in the future.

You need to know that what matters most under such circumstances is what you learn from the experience. In order to avoid a repeat of the same mistake, you need to take a close look at the failed campaign and extract useful information from the experience to help you make better decisions in the future.

The following are five common lessons you’ll learn from failed campaigns;

  1. Failure isn’t the end of the world

Seeing an entire campaign fail miserably can feel like the end of the road. Yet, it isn’t. After the failure, you’ll learn that there is life beyond any campaign; that irrespective of the magnitude of failure, you’ always have a second chance.

  1. You learn that priorities are everything

One of the main reasons we often fail is getting our priorities wrong. Perhaps you’re beginning at the wrong end. Maybe you’re trying to focus on traffic without first working on your marketing messages. When you fail, something truly strange happens; you’ll begin to rethink your priorities and put things that matter most at the front of the queue.

  1. It improves your perception of finance

Often, especially when you’re getting started, you could be tempted to go all in and commit every cent to that big dream. This isn’t bad at all. But it’s extremely risky. And, again, you’ll only get to better appreciate the risk when you fail. You’ll learn that you have to use your money more wisely, and, as www.ChadFocus.computs it, develop an entrepreneur mindset.

  1. You understand the need to delegate

Another common reason businesses fail is trying to do it all alone. This is especially true for small businesses owners. Pressed by the need to cut costs, you may find yourself trying to run the business on your own. Failure will open your eyes to the importance and benefits of delegating responsibility.

  1. You learn when to quit

Finally, and most importantly, failure will teach you that not all ventures can be successful; that sometimes it’s better to just count your losses. More importantly, you’ll learn whento call it quits.

So, Don’t Quit Now

It doesn’t matter how many times you fail. If you can always learn these five lessons and take them into your next project, your chances of success become much greater.

 

Categories
Sales & Marketing

Understanding Your Audience Is The Most Important Part Of Marketing

As entrepreneurs, we’ve ready plenty about marketing. We know that marketing is the life’s blood of our businesses. After all, without customers, there’s no money and without money, well a business is nothing more than a hobby.

One of the lessons that I’ve learned along my journey of entrepreneurship is knowing who your audience is just as important, if not more important, than knowing how to get to them. The reality is that the blanket marketing approach that most take is the same reason they fail.

What’s Wrong With Marketing Today?

Today’s form of online market is what I like to call blanket advertising. Advertisers generally look for lower costs per click to get their ads in front of as many eyes as possible. The idea is that as more people see the ad, someone is likely to click. So, the more we spend, the more eyes we cover, the more we make. The truth is that this is a broken model.

I recently came across an interview featuring Russell Ruffino, a quickly rising star in the world of entrepreneurship. Russ Ruffino’s interview suggested that instead of dragging a fishing net across a the bottom of the ocean trying to catch a big fish, we learn about the audience and target that specific audience. When talking about this exact scenario, Ruffino put it best when he said:

“So, even in the best case scenario, you’ll have to deal with many low-profit clients, which, in turn, will translate into a ton of issues to solve, complaints to sort out and details to micromanage. You will have no free time left, and you’re going to be a slave to your own work. There is a saying in Italy ‘work to buy a car you will use to go to work.’ Also, with these obsolete models, you’re definitely not going to buy yourself the expensive car you dreamed of.”

What Needs To Change For Marketing To Be A Success

At the end of the day, a successful marketing campaign is all about knowing your audience. Blanket marketing says that if everyone sees your ad, some interested parties will buy. However, if you’re a shoe manufacturer, would you rather sell a pair of shoes at a time or reach out to retail outlets that will buy in bulk? Essentially, we want to go for the big fish, and the first step is knowing who those fish are.

Once you know who the big fish are, it’s time to find out where they hang out. Chances are that there are plenty of them on Facebook. With 72.4% of the world’s population using the social network, just about everyone is on facebook these days.

Now, using the tools that are available to dial down the audience, do so. Dial your audience down to exactly what you’re looking for by advertising to people of specific ages, sexes and with specific interests. By doing so, not only will your ad likely be more successful, the cost per click for your ad will probably fall too!

What You Should Take From This Article

There are tons of articles about marketing and what you need to be successful. This isn’t like that. I don’t want you to use my system, buy my tool, or pay me for an eBook. I want you to be successful, and to do that, you need to take one thing away from this article. Ultimately, being successful in online marketing is all about knowing who you are marketing to. If you keep that in mind, you will likely find the success that it took me years to track down!

Categories
Online Business

Clicksdealer.com Review – How to Make Money with Banner Advertising

The Internet is a wonderful place where anyone can find the occasional gig to make some additional money. If you got some extra time and needed a few dollars more for getting through the month when money is tight, there are plenty of opportunities to find around. Ads flipping is among these, and banner advertising platforms are a really unique (and effective) way to cash in by working remotely.

Banner ads are all but a surpassed technology, and they’re still used a lot around the web to advertise a wide range of different products. Banner advertising platforms allow people to profit and they’re based on a very simple principle: You invest some money and then start buying and selling ads just like any other commodity. In this Clicksdealer review, we will give a deeper look at this specific platform and see how the world of ads flipping work.

What is the Clicksdealer platform?

The Clicksdealer marketplace operates on a platform that allows users to earn money from home by flipping advertising placements using banner ads.In a nutshell, users can buy and sell ads that will be published on a very big network of publisher websites. Clicksdealer’s software guarantees a high degree of security and is built on a simple interface aims to let even the less tech-savvy user grasp the basics quickly.

How does the Clicksdealer marketplace works?

Once the user registered his profile on theClicksdealerBanner Advertising Platform, he or she can purchase a bundle of banner ads choosing from one or more categories. These so-called niches include leisure, sports, technology, fashion, cars and much more, and the user will find that all the major brands are here, from Toyota to Nike, Samsung, Dell, LEGO, McDonald’s and more. A banner can be bought for as low as $25 and may reach a value of more than $1000. A starting package of banners can be bought for as low as $250, while other packages are also available with prices starting at $5,000 to buy 50+ ads at a discounted price.

The interface includes a very intuitive dashboard where the user can compare each banner’s stats, its past performance and trends, its value, and choose whether he wants to sell some of his banners or buy new ones. In case something wrong happens, technical support can be contacted 24/5 to get some quick assistance.

How does Clicksdealer generate profit?

Whenever a banner is purchased, the ownership for that ad is provided for a certain number of days, during which the user makes money every time someone clicks on it. The ads bought are displayed on many websites so they enjoy a significant visibility. The more clicks each ad gets, the more its value will rise, and, in due time, the owner may choose to re-sell it for a better price (just like in an auction – the goal is to sell your ad to the highest bidder). The best traders will eventually know how to make a solid additional profit just from buying and selling ads.

Conclusion

Clicksdealer seems like an interesting platform to earn some additional cash online. The marketplace is large and lively, and with some patience and efforts, a dedicated user may have a chance to profit even with a relatively small investment.