Unusual Holidays for November

Here are some real but different holidays for the month of Novemeber.

 1 National Author's Day
 3 National Cliche Day
 6 Saxaphone Day
 7 Hug a Bear day
 12 Chicken Soup for Soul Day
 13 National World Kindness Day
 15 America Recycles Day
 16 Sadie Hawkins Day
 17 Take a Hike Day
 17 Homemade Bread Day
 18 Mickey Mouse Day
 19 Have a Bad Day Day
 20 Name Your PC Day
 21 World Hello Day
 23National Cashew Day
 25 National Parfait Day
 29 Square Dance Day
 30 Stay Home Because You're Well Day

Tell Your Secrets

You are probably an expert in your field and know things plus ideas that will benefit others. When meeting with groups or speaking don't hold back on what you know. People want to hear something they don't already know and will look at the person who told them as their new expert. They won't just steal your secret formula for success and run away, they will be back for more. When they come back is when you can make it profitable.

Too many experts hide their secrets because they feel others will just take them for free and use them. But I have found that even the best ideas or secrets are the creation of the the original person and they know how to use them best. They can and do show others how to benefit from what they know and can make a profit doing it. Too many ideas that are left secret go unused and never reach the potential that is possible because few people know about them. Give them away freely and people will flock back to you for more!

Barry is a speaker on marketing and customer satisfaction plus a business and franchise coach. www.idealetter.com

E-Commerce Ideas

E-commerce. Some retailers are successfully selling online, others say they are content keeping their online catalogs just that - online catalogs. If you want to test the e-commerce waters without investing a lot of time or money, check out Big Cartel, a company we first wrote about in 2008. It's a good way to go if you only want to sell a few products (up to 100) and can't justify the expense of paying a Web designer to customize and maintain an Internet storefront for you.

 

Several companies also offer low-cost e-commerce platforms for Facebook, like one we wrote about last year called Payment that lets your customers shop right on your page, by clicking on an "Ecommerce" tab. Facebook has even created a new website called Facebook Studio, that teaches, among other things, how to use the social network for marketing.

Places to Use Your Logo

Here is a list of ideas where you can use your logo to get brand recognition. The more people see it, the better cahnce they will remember your business. Some of these are obvious but others you may have overlooked.

 *All envelopes and mailers
 *Business cards, letterhead, forms
 *Fax cover sheets and memos
 *Advertising brochures/literature
 *Product packaging & cartons
 *Product instruction sheets
 *Invoices, checks, purchase orders etc.
 *Uniforms and hats
 *Company shirts and wearbles
 *Promotional items and giveaways
 *Signs, posters & billboards
 *Your front door & desk nameplates
 *On every website page
 *Display windows
 *Vehicle lettering & car magnets
 *All correspondence & communications
 *Direct mail pieces
 *All print & TV advertising
 *And anything else you can think of

Barry is a business, franchise and marketing coach and speaker.  www.idealetter.com

Social Media Works For Retailers

Social Media is a whole new way of marketing, bringing results to retailers, and is here to stay. Retailers are making fewer magazine and newspaper buys, opting instead to advertise, promote and communicate with customers on Facebook, Twitter, Google+ and Linkedin. Foursquare is starting to pick up steam with retailers as they begin to understand its potential as a new word-of-mouth advertising tool and customer loyalty engine.

A year ago, one retailer told us she'd outsourced management of her posts, tweets and email maintenance to a "virtual assistant" located offsite, in another state. She later reversed that decision when she realized "I am the voice of my store, and it is more genuine if I do it." Regardless of who actually makes the posts get it done on a regular schedule. People will watch your posts to see what's new, what's on sale and what's happening in your industry.

Network With Other Retailers

 Attend one of our many ART-sponsored retail roundtables or join a private online discussion group. Many retailers who do tell us they find it to be a great source of information and support. From one of those roundtables came this recommendation: "The National Trust Main Street Center is a great resource. They post really interesting articles on their Facebook page about what groups are doing to revitalize their shopping districts around the country."

Contribute your voice to ongoing state and federal legislative matters pertaining to retailers (credit card and debit card swipe fees, health care reform, taxes, California's new law requiring retailers to provide a seat for each worker). The National Retail Federation is a good starting point, and provides easy-to-use templates for writing congressmen on legislative issues affecting retailers.

Offer Store Exclusives

 Whether it's a candle with your own store label or your own signature product line, retailers tell us there's definitely value in exclusivity, which you can have in just a single piece: Buy a chandelier, put a coat of paint on it and a shade on the bulb. Take a chest and change the hardware. Make a product unique, attractive and useful then display it where everyone will easily see it.  For a little effort you have something no one else sells -- which means you can mark it up more.

Artists & Author Nights

 Store events that bring artists and authors and their creative works onsite for exhibition events are consistently bringing in first-time visitors. Why? Many of them actively blog and use Facebook to promote their products, as well as their upcoming appearances.

This idea was first brought to our attention by an "anonymous" participant at one of the retailer roundtables led by Accessories Resource Team Executive Director Sharon Davis: "There's added value in that the participating artists and authors are blogging and posting on Twitter and Facebook. It's no longer just the store's mailing list. I have a little over 1,300 square feet. We had five artists and it totally worked. A percentage of sales went to a charitable organization, so they sent something out to their email list, and the artists sent something out, and it was really great for business."
Source" homeaccentstoday.com

Grow With Customer Service!

The least expensive way to grow your company and increase repeat business is through outstanding customer service. This means going over and above what is expected and not found with your competitors. When a customer has a problem with a product, rush delivery, finding a size, getting a job done, fast alterations or anything else, this is the opportunity to show how good you are and that you really care. Even if the problem is casued by the customer, you can solve it as if it was no one's fault. This is what makes customers smile and creates loyalty that will last much longer than a low price.

There is not much loyalty to business anymore unless you make their customer experience something that they won't forget. But just doing it once is not enough, you must keep doing it every time they purchase. You must say Thank You every time and smile while solving a problem. They are your source of income and growth and need to be treated like the special people they really are. Price does not create loyalty it only makes someone buy one time and look for the lowest price when they are ready to purchase again. Provide the caring service that will make them forget the lowest price and buy with complete confidence from your business.

Barry is a speaker, business coach and international author. www.idealetter.com 

You Are Invited

 To Colorado Springs Business Partners guest and visitors meeting on Tuesday October 23, 2012. There is no cost to attend and there is a free mini breakfast buffet for all. We are a networking group that meets to exchange marketing and growth ideas plus refer business leads to each other. Don't miss this meeting if you are in the Front Range and need more sales to grow your business.

We have over 20 people that attend each meeting and would like to increase that to 35+.
There is only one member from each profession and we would like you join us on October 23rd at 8AM to 9AM with no obligation. You will get one minute to tell us about your business plus exchange business cards with other local business people. We are the lowest cost in the area because ALL the dues stay in the our group and benefit everyone. Our website is:
www.coloradospringsbusinesspartners.com

We meet at Colorado Tech University Room 252 (just South of Garden of the Gods Rd and Chestnut) use the Student Entrance in the back or ask at the main entrance. No reservation needed, no cost to attend,  just arrive a little before 8AM. I will be speaking on 2 Cheap Marketing Ideas.

Ideas for Growing Your Business

 

For those of you who have already successfully started a business and are ready to take the next step, you may be wondering what you can do to help your business grow. There are many ways to do this, 10 of which are outlined below. Choosing the proper one (or ones) for your business will depend on the type of business you own, your available resources, and how much money, time and resources you're willing to invest all over again. If you're ready to grow, take a look at these tips.

1. Open another location. This is often the first way business owners approach growth. If you feel confident that your current business location is under control, consider expanding by opening a new location.
2. Offer your business as a franchise or business opportunity. Franchising your business will allow for growth without requiring you to manage the new location. This will help to maximize the time you spend improving your business in other ways, too.
3. License your product. This can be an effective, low-cost growth medium, particularly if you have a service product or branded product. Licensing also minimizes your risk and is low cost in comparison to the price of starting your own company to produce and sell your brand or product. To find a licensing partner, start by researching companies that provide products or services similar to yours.
4. Form an alliance. Aligning yourself with a similar type of business can be a powerful way to expand quickly.
5. Diversify. Diversifying is an excellent strategy for growth, because it allows you to have multiple streams of income that can often fill seasonal voids and, of course, increase sales and profit margins. Here are a few of the most common ways to diversify:
   
   • Sell complementary products or services
   • Teach adult education or other types of classes
   • Import or export yours or others' products
   • Become a paid speaker or columnist
6. Target other markets. Your current market is serving you well. Are there others? Probably. Use your imagination to determine what other markets could use your product.
7. Win a government contract. One of the best ways to grow your business is to win business from the government. Work with your local SBA and Small Business Development Center to help you determine the types of contracts available to you.
8. Merge with or acquire another business. Two is always bigger than one. Investigate companies that are similar to yours, or that have offerings that are complementary to yours, and consider the benefits of combining forces or acquiring the company.
9. Expand globally. To do this, you'll need a foreign distributor who can carry your product and resell it in their domestic markets. You can locate foreign distributors by scouring your city or state for a foreign company with a U.S. representative.
10. Expand to the Internet. Very often, customers discover a business through an online search engine. Be sure that your business has an online presence in order to maximize your exposure   Source: sba.gov 

Some Outside-the-Box Marketing

After eight years, Dr. Bob Wagstaff’s halitosis-curing invention seemed destined for the scrap heap. Nothing had worked to sell the Orabrush — a $50,000 infomercial brought only 100 orders — so Wagstaff took his idea to a Brigham Young University market research class.
One student, Jeff Harmon, built a team that included a coworker prone to ranting, a scriptwriter and a film major, and created content for a YouTube channel — Cure Bad Breath — that has more than 160,000 subscribers and generated more than 44 million views.

After some Utah Walmarts began carrying the product, Orabrush purchased magazine advertising and targeted key Walmart executives with a marketing campaign. But it took yet another outlandish idea to seal the deal.

Orabrush purchased Facebook ads targeting users in Northwest Arkansas, home of the retail giant. The ad read: “Walmart employees have bad breath ... Walmart needs to carry Orabrush! It will sell better than anything in your store.”

Within 48 hours, Walmart e-mailed; after a few more e-mails, Orabrush geared up production to meet the 735,000-unit order.

In two short years, Orabrush went from a failed idea to one that’s taking on bad breath one tongue at a time in nine countries — all because of a minor investment in a crazy marketing idea.
Sourde: stores.org

That Vending Smell?

Vending Never Smelled So Good
It seems that just about anything can be placed in a vending machine: soft drinks and snacks, DVDs — even technology hardware. It was a $19.25 billion market in 2010, according to industry group Automatic Merchandiser. And at some point soon, Google Wallet payment terminals will likely be available on machines.

In Paris, a baker is pushing the vending envelope. Jean-Louis Hecht’s automated, 24-hour baguette dispensers target those who want the staple French treat after traditional bakery hours. Hecht partially cooks the baguettes before placing them in the machine for final cooking, thus allowing them to be delivered piping hot. Calling the machines the “bakery of tomorrow,” Hecht says he sold as many as 4,500 baguettes in a month; selling just 100 baguettes per day brings a 33 percent profit.

Advocates say that after some recessionary times, the industry is poised to pick up as consumers’ incomes rise and operators roll out new, high-tech conveyances. Surely we would buy our doughnuts from a vending machine if we could get them fresh, right?
Source: stores.org

Believe That You Can

When you are looking at goals that you want to achieve but everyone is telling you that you can never do that, it's time to believe that you really can. Instead of looking at that bar way above your head that seems impossible to get over start taking small steps up to a platform that you when you reach the top you can just step over that bar that seemed so high before. The steps to that platform will be much easier to reach and you will be getting closer after each step. There will be times that you may have to go down a step or two before you can go back up but that will only make you stronger. So don't say your goals are impossible to reach, just start making your way up the shorter steps and you will get there. There is no better time than TODAY to begin.

Barry is a speaker, international author, entrepreneur and business coach www.idealetter.com

Estimate Start-Up Costs

If you are planning to start a business, it is critical to determine your budgetary needs.
Since every business is different, and has its own specific cash needs at different stages of development, there is no universal method for estimating your startup costs. Some businesses can be started on a smaller budget, while others may require considerable investment in inventory or equipment. Additional considerations may include the cost to acquire or renovate a building or the purchase of long-term equipment.

To determine how much seed money you need to start, you must estimate the costs of doing business for the first months. Some of these expenses will be one-time costs such as the fee for incorporating your business or the price of a sign for your building. Some will be ongoing costs, such as the cost of utilities, inventory, insurance, etc.

While identifying these costs, decide whether they are essential or optional. A realistic startup budget should only include those things that are necessary to start a business.
These essential expenses can be divided into two separate categories: fixed and variable. Fixed expenses include rent, utilities, administrative costs and insurance costs. Variable expenses include inventory, shipping and packaging costs, sales commissions, and other costs associated with the direct sale of a product or service. The most effective way to calculate your startup costs is to use a worksheet that lists both one-time and ongoing costs.
Source: sba.com

Employee or Contractor?

Independent contractors and employees are not the same, and it's important to understand the difference. Knowing this distinction will help you determine what your first hiring move will be and affect how you withhold a variety of taxes and avoid costly legal consequences.
What’s the Difference?
An Independent Contractor:

• Operates under a business name
• Has his/her own employees
• Maintains a separate business checking account
• Advertises his/her business' services
• Invoices for work completed
• Has more than one client
• Has own tools and sets own hours
• Keeps business records

An Employee:

• Performs duties dictated or controlled by others
• Is given training for work to be done
• Works for only one employer

Many small businesses rely on independent contractors for their staffing needs. There are many benefits to using contractors over hiring employees:

• Savings in labor costs
• Reduced liability
• Flexibility in hiring and firing

Why Does It Matter?
Misclassification of an individual as an independent contractor may have a number of costly legal consequences.
If your independent contractor is discovered to meet the legal definition of an employee, you may be required to:

• Reimburse them for wages you should've paid them under the Fair Labor Standards Act, including overtime and minimum wage
• Pay back taxes and penalties for federal and state income taxes, Social Security, Medicare and unemployment
• Pay any misclassified injured employees workers' compensation benefits
• Provide employee benefits, including health insurance, retirement, etc.

Tax Requirements
Visit the IRS Independent Contractor or Employee guide to learn about the tax implications of either scenario, download and fill out a form to have the IRS officially determine your workers’ status, and find other related resources.
Employment Information
There is no single test for determining if an individual is an independent contractor or an employee under the Fair Labor Standards Act. However, the following guidelines should be taken into account:

1. The extent to which the services rendered are an integral part of the principal's business
2. The permanency of the relationship
3. The amount of the alleged contractor's investment in facilities and equipment
4. The nature and degree of control by the principal
5. The alleged contractor's opportunities for profit and loss
6. The amount of initiative, judgment, or foresight in open market competition with others that is required for the success of the claimed independent contractor
7. The degree of independent business organization and operation

Whether a person is an independent contractor or an employee generally depends on the amount of control exercised by the employer over the work being done. Read Equal Employment Opportunity Laws - Who's Covered? for more information on how to determine whether a person is an independent contractor or an employee, and which are covered under federal laws.

Source: sba.gov 

Get More Referrals

Ho-Hum. Another day at the office, waiting for a potential customer to call or come in. Hmmmm.

What would your business be like if your current customers were enthusiastically rounding up prospective customers for you? How difficult would it be to close those sales?

So why aren't your current customers bringing you referrals? Perhaps it's because you have not instructed them, motivated them, made it easy for them, asked them or initiated the process.

Getting referrals requires planning and preparation. Start by making a list of all the people who might be a referral source for you. These may include people you do business with, such as your banker, accountant, attorney, printer, consultant, broker, and so on.

You'll have better results by developing stronger relationships with a few referral sources rather than shallow relationships with lots of sources.

In order to help your Referral Partners give you good, qualified referrals, you need to get crystal-clear about what you are looking for. What types of people/organizations make the best customers for you? Are there any geographic limitations? How about size or volume requirements?

Your Referral Partner has surely developed valuable relationships over the years and will be most reluctant to do anything that might jeopardize those relationships. A simple, step-by-step process that shows how you will represent yourself (and your Referral Partner) will provide assurance that the potential customer will be treated with respect and dignity.

Next, discuss the specific actions you want from your Referral Partner. Do you want them to call the potential customer? What do you want them to say? Would you prefer they arrange a three-way appointment? Often, people want to give you referrals, but don't know exactly what to do or how to do it. Train them; coach them; help them get clear on what's expected of them.

Once you get a referral, be sure to show your appreciation. Behavior that is recognized tends to be repeated. Showing your appreciation is not only the polite thing to do; it is also a smart way to encourage more referrals.

Bottom line; developing and implementing an effective referral strategy can produce a steady stream of new business for years to come. You can achieve your professional goals faster and easier through effectively targeting referrals. Start today.
Source: bizsuccess.com

Have Better Meetings

How do business people spend about 17 hours each week? You guessed it; in meetings. Sales meetings, project meetings, staff meetings, quality meetings and so on.
Our modern workplace now demands that people, teams, and sometimes different organizations pull together to obtain the desired results. Complexity of problems and opportunities require the collective input of various sources and backgrounds to find unique and highly effective solutions.

When people work together, one inevitable event occurs that causes a collective groan. The "Meeting" is the worst, least popular time waster of them all. What's with this aversion to meetings? Just what is a meeting? Are they necessary? If necessary, how can we improve their effectiveness?

To make your meetings more productive and effective, incorporate the following four phases into the plan for each meeting:

1) Determine a clear focus and be action oriented -- what do you want to accomplish?
2) Make sure that all necessary resources are available including advance information, the proper people, and adequate facilities.
3) Stay focused during the meeting by following your timetable, and accurately record all decisions and follow-up actions.
4) Evaluate the process -- have the group discuss and identify good and bad aspects before they leave the meeting.

Statistics: Meetings are necessary -- but poorly run meetings are a terrible waste of time. A recent survey of American business people provided us with this statistic: people spend an average of 17 hours each week in meetings. This is not necessarily an excessive amount, but respondents said that 5 of these 17 hours were wasted time. this is an average of one hour each day wasted! Poorly run meetings are one of our biggest time wasters, so make sure your meetings are focused on your agenda.

Meeting Maddeners: Most frequently mentioned problems include:
1) late starts;
2) run too long;
3) lack of focus for the meeting;
4) straying off the subject;
5) inviting the wrong people to the meeting; and
6) lack of closure or clear decisions.

Swivel is the Future?

Judy Jetson never had it so good. Thanks to 3-D virtual dressing room Swivel, a shopper can “try on” multiple products without visiting multiple stores.
Swivel allowed shoppers to try on thousands of clothing and apparel items and see themselves from different angles. Customers could share the photos via text or social media, and a QR code allowed for easy purchase directly from retailers’ websites.

Mall owner Forest City, which hosted a seven-day, three-mall tour in September, is considering rolling the technology out to other centers. “We are always looking for ways to integrate technology into the bricks-and-mortar retail shopping experience,” says vice president of digital strategy Stephanie Shriver-Engdahl. “We brought Swivel to our properties as an introduction to a new channel for shops and retailers to stay connected in person as well as online between in-store visits. Based on early reactions, it was a hit.”

It’s well known that getting customers into the dressing room provides a significant lift in sales. The virtual dressing room provides limitless options and potential for competing stores to work together. — Sandy Smith   Source: stores.org

Start a A-Z "Guide" Niche Website

A-Z “Guide” Niche Website
While the idea to starting a niche website may not be a smack your head “Why didn’t I think of that?” creative idea there are some great benefits. The beauty of using the Internet to start a business is that the startup costs are so very low. For a couple hundred bucks you can choose a domain name, install WordPress, and start building your website. There are no office leases to sign, no employees to hire, and no payroll taxes to worry about. Of course, if your idea takes off then you can certainly expand and you may just find yourself wanting to hire employees but the beauty of starting a small website online is that it allows you to test the market for cheap.

Start with a subject that you know and then build exactly the type of site that you would want to visit to learn about that particular subject. If you love gardening then build a gardening tips website. If you love tinkering on cars then build a website with tips for doing your own car repairs. It could be a relatively boring but lucrative niche like car insurance or it could be a really fun niche like cell phones. Maybe you have a personal goal to lose weight – why not chronicle your progress and compile a great collection of weight loss tips? The list goes on and on.

Choose a subject that you enjoy and that has some commercial appeal. Your #1 goal should be to provide high quality information that appeals to your target market (gardening hobbyists or car repair tinkerers in our examples) and as you serve your target market you will find many different ways to help those people while making some money at the same time (advertising, recommended products, e-book guides, premium membership, etc).
Source: financialhighway.com

Finding Your Right Fit

Ten seconds. That’s how long the Me-Ality Size Matching Station takes to figure out the best-fitting clothes for shoppers.

Here’s how it works: A fully clothed shopper steps into the scanner, where 196 small antennae map her size. Her exact body measurements are captured via 200,000 “points of reference” and she’s soon able to view a custom shopping guide, filterable by brand, style, price and retailer.
The Me-Ality (Measured Reality) kiosk, developed by Nova Scotia-based Unique Solutions Design, premiered in 2010 at Pennsylvania’s King of Prussia Mall. Since then, they’ve been popping up in major cities nationwide, and are expected to reach 300 malls within the next few years.

Unique Solutions has offered body fit solutions since 1994, and is said to maintain the largest database of body measurements that accurately reflect “the real size and shape of consumers.” Retailers that have signed on to participate include bebe, Chico’s, Levi’s, White House Black Market, Lane Bryant and DKNY Jeans. Potential benefits include higher customer satisfaction, increased sales, fewer returns — and most likely, much less frustration in the dressing rooms.
Source: stores.org

Finding Your Friends Seats

Ticketmaster has found a way to market to its customers’ friends.
As soon as they buy, Ticketmaster customers can tag themselves into their seats, enabling Facebook friends to see where they are sitting and which nearby seats are available for purchase. The feature is currently available for more than 9,000 events.

Ticketmaster rolled out interactive seat maps in 2010; integrating Facebook into these maps will create a community around each live event, beginning with the on-sale and building up to event itself.
“When we launched the Interactive Seat Maps in 2010, we learned that people used them to buy seats near their friends and family,” says Kip Levin, executive vice president of e-commerce for Ticketmaster. “We thought, let’s make it easier for them to share that information by using Facebook.”

Levin says the response has been fantastic. “We have found that more than 80 percent of fans that tag their seats choose to share their seat location with everyone on Facebook,” he says. “Engagement around the Facebook wall posts that fans share with their friends drives greater than 30 percent more fan engagement vs. a simple event
Source: stores.org

Doing Business in Dubai

*Visitors are expected to abide by local standards of modesty
*Men  should wear a jacket and tie for business meetings
*Women should wear high necklines, sleeves and skirts below the knee
*Often shoes are removed before entering a building, watch your host
*The common greeting for men is shaking hands
*In the Muslim world, Friday is the day of rest
*Showing the bottom of your shoe or foot is offensive
*Gifts received or given should be opened in private
*Communication is slow with periods of silence
*Meetings can be interrupted by phone calls and people visiting
*The person asking the most questions at a meeting is the least important
*The decision maker usually sits at a meeting silent
*The correct country name is United Arab Emirates
*Alcohol is available in restaurants, clubs and hotels
*Being drunk in public or driving is a serious offence

What Networking Group to Join?

Networking Groups are great for small businesses or franchises to 'get the word out' and share marketing ideas with other local business people. These can be joined in addition to your Chamber of Commerce but it's best to be a member of only one networking group (plus the Chamber). When you join be sure you can attend most of the meetings and the meeting time is set aside on your schedule. The more people that attend each session the more chances you have to exchange leads and get marketing information.

Now, what group should you join? I like the ones that are more local and the group uses ALL the dues for that group. The national networking groups like BNI send most of the dues to a home office and very little stays in the local area. I don't see the home office doing anything to benefit the local group for all that money that leaves town. The dues are also higher because of that and if you don't get a lot of quick leads you could have used that extra money elsewhere. So do your research before you join and decide where you will get the most for for the dues you will pay.

Barry is a business and franchise coach, www.idealetter.com

6 Steps to Begin Exporting

Small business owners can access this information at http://www.export.gov/begin.
Step 1 Take the Free Export Readiness Self-Assessment
The online questionnaire assesses export readiness and provides advice on how to strengthen export potential.
Step 2 Training and Counseling
Depending on the assessment score, business owners will be directed to online and local counselors who can help design a training program to match their specific needs.
Step 3 Create an Export Business Plan
An export plan identifies any business constraints and sets specific goals and objectives as milestones to success.
Step 4 Conduct Market Research
The U.S. government’s Market Research Library provides the latest information prepared by U.S. embassies worldwide. Trade Stats Express is a powerful tool for identifying target markets.
Step 5 Find Buyers
Federal, state and local governments continually hold export events putting U.S. sellers and potential foreign buyers in direct contact.
Step 6 Investigate Financing
Financing, insurance and grant programs help small businesses manage or remove risk for both the business and its bank.
Source: sba.gov

Please Help Us In Retail !!!

About an hour before writing this post I went to a local supermarket deli counter to buy a couple slices of thick turkey breast for lunch. I planned to bring it back to my office and put them in the microwave and have a healthy lunch (for once). I asked the young man who was behind the deli counter for 2 slices about 3/8" thick which I thought would be about a half pound. He said he didn't know what 3/8" was so I told him between 1/4" and 1/2" or so. He then said, "Man I don't do fractions" and I had to show him with my fingers the approx thickness.

He was very polite and courteous but I am always amazed at what young people don't learn in school anymore. Isn't good customer service being able to know the basics in math or am I just being old-fashioned? Does anyone test the people they put on the front lines to assist customers and teach them what they don't know and should know? If you want customers and clients to respect and return to your business give them a person to help them that has a basic school education. Interview with care, especially your front line people.

Barry is business and franchise coach who has 6 published books on starting and growing your business. www.idealetter.com

My 6 Biggest Complaints About Business Travel

 

No matter how you do it, travel is a strain — made worse, I believe, because airlines seem to have a hard time with customer service. Maybe it’s just because there are always so many exhausted travelers complaining. Or maybe it’s something more systemic. Who knows? But I continue to believe there are some easy fixes that airlines could make. Here are my top six.
Outlets: How often do you wander an airport looking desperately for an electrical outlet? When I find one, I will even sit on the floor, beside a smelly bathroom, if that’s what it takes. But why is this necessary? Why not put them everywhere? Why don’t the airlines and airports make it something they market: Never search for an outlet!
Nonreclining seats: This is almost insulting. The chair has a recline button built into it, but when you push that button and try to recline, it moves half an inch. And then the best part is when you are landing and the airline attendants make a fuss about moving your seat back into an upright position.
The cabin P.A.: The cabin public address system, I believe, should be reserved for truly important messages, and they should be made quickly. No banter, no talking slowly, no pressing the button and then not talking. I don’t really care what the wind speed will be where we’re landing in eight hours or even what the weather will be — it will be what it will be. Not only is the chatter annoying, it cuts off whatever entertainment you are trying to enjoy. I’ve had flights where my movie seemed to be interrupted by sales pitches every 10 minutes — in three languages.
Checking in: Depending on the airline and the destination, the cutoff time for check-in booths and kiosks to stop giving boarding passes is generally 30 minutes to 60 minutes before departure. Why? Honestly, just give me a chance to run to the gate and make it. I understand that the security and immigration lines are my obstacle – but let me try, especially if I have no bags to check. (Here’s a tip: If you ask nicely, they will often call the gate and have the gate authorize a boarding pass.)
Lounge rules: Some airlines let you into the lounge only if you are flying internationally. But since when do Mexico and Canada (my homeland) belong to the United States? Most airlines apply domestic rules to destinations in Canada or Mexico regardless of the length of the flight (Miami to Vancouver, for example, is quite a bit longer than Miami to Bogotá). If you haven’t been to an airport lounge, it’s basically a bunch of nice couches, lots of outlets, free snacks and an open bar. Sometimes there are showers (but rarely). You can get in based on your loyalty-card status or with certain credit cards. But it’s rarely clear. For example, with Star Alliance, if you have a gold status, you can get into the lounge (in certain airports) if you are flying international. And you can bring a guest, but the guest must be flying Star Alliance, as well. These strange policies are especially annoying because you just never know. And, really, what is the incremental cost of allowing one more person into a lounge?
Alcohol policy: Having a few drinks can be a nice way to knock yourself out on a long flight and ward off jet lag. But why is it that you can bring a sandwich and a Coke on board from an airport shop but you can’t bring a beer?
I don’t think I’m asking for a lot here — although a free snack every now and then would be nice. What would you like to see?
By Tom Szaky is the chief executive of TerraCycle, which is based in Trenton.

Mark Your Calendar!

You Are Invited

To Colorado Springs Business Partners guest and visitors special meeting on Tuesday October 23, 2012. There is no cost to attend and there is a free mini breakfast buffet for all. We are a networking group that meets on the 2nd and 4th Tuesday to exchange marketing and growth ideas plus refer business leads to each other. I will be speaking briefly on a couple cheap marketing ideas at this meeting plus another speaker.

We have over 20 people that attend each meeting and would like to increase that to 35+ per meeting. There is only one member from each profession and we would like you join us on October 23rd at 8AM to 9AM with no obligation. You will get one minute to tell us about your business plus exchange business cards with other local business people. We are the lowest cost in the area because ALL the dues stay in the our group and benefit everyone.

Our website is:
coloradospringsbusinesspartners.com

We meet twice a month at Colorado Tech University Room 252 (just South of Garden of the Gods Rd and Chestnut) use the Student Entrance in the back or ask at the main entrance. No reservation needed, just arrive a little before 8AM

National Football League Team Values

1 Dallas Cowboys $2.1 Billion
2 New England Patriots $1.64 Billion
3 Washington Redskins $1,6 Billion
4 New York Giants $1,47 Billion
5 Houston Texans $1.31 Billion
6 New York Jets $1,28 Billion
7 Philadelphia Eagles $1.26 Billion
8 Chicago Bears $1.19 Billion
9 San Francisco 49ers $1.18 Billion
10 Green Bay Packers $1.16 Billion
11 Baltimore Ravens $1,16 Billion
12 Indianapolis Colts $1,15 Billion
13 Denver Broncos $1.13 Billion
14 Pittsburgh Steelers $1.1 Billion
15 Miami Dolphins $1.06 Billion
16 Carolina Panthers $1.05 Billion
17 Seattle Seahawks $1.04 Billion
18 Tampa Bay Bucs $1.03 Billion
19 Tennessee Titans $1.01 Billion
20 Kansas Cuty Chiefs $1.01 Billion
21 Cleveland Browns $987 Million
22 Minnesota Vikings $975 Million
23 New Orleans Saints $971 Million
24 San Diego Chargers $936 Million
25 Arizona Cardinals $922 Million
26 Cincinnati Bengals $871 Million
27 Detroit Lions $855 Million
28 Atlanta Falcons $837 Million
29 Buffalo Bills $805 Million
30 Oakland Raiders $785 Million
31 St Louis Rams $780 Million
32 Jacksonville Jaguars $770 Million

Source: Forbes Magazine - September 2012

Getting a Tax Identification Number

 

You're familiar with paying personal taxes. As a small business owner, you'll need to pay business taxes as well. All businesses are required to pay federal, state, and in some cases, local taxes. Most businesses will need to register with the U.S. Internal Revenue Service (IRS) and state and local revenue agencies in order to receive a tax ID number or permit.
The following resources will help determine your tax registration requirements.

Employer Identification Number (EIN)

What is an EIN?

An EIN is also known as a federal tax identification number, and is used to identify a business entity. Employers with employees, business partnerships, and corporations and other types of organizations, must obtain an EIN from the IRS. The EIN is also known as an Employer Tax ID and Form SS-4.
The resources below will help you get more information about getting an EIN for your new business.

• Guide to the Employer Identification Number
• Apply for an EIN Online

Do you want to see another Business’ EIN?

There are several ways to try to locate another business’ EIN.

• If a company is public it may put its EIN on the first page of its 10-Ks, 20-Fs and other U.S. Security Exchange Commission (SEC) filings. You can locate these documents for free through the SEC's Electronic Data Gathering, Analysis, and Retrieval (EDGAR) database.
• Nonprofits often include the EIN on Form 990. GuideStar maintains a free, searchable database of these documents.
• Private companies sometimes list EINs on company websites. You can also search fee-based resources such as Westlaw (BUS-TRACK and/or FEIN-ALL) or Lexis (D&B/FEIN).

What if you misplace your EIN?

There are ways to retrieve your company's EIN if you lose the number.

• First, look for your confirmation notice issued by the IRS after you applied for your EIN.
• Ask the IRS to search for your EIN by contacting the Business & Specialty Tax Line. You will need to provide identifying information to verify that you are authorized to receive the EIN.

Contact the IRS by phone at 1-800-829-4933.

State Tax Registration

Just as you must have a federal tax identification number, you will also need to obtain Tax IDs and permits from your state's revenue agency. Businesses that operate within the state are required to register for one or more tax-specific identification numbers, licenses or permits, including income tax withholding, sales and use tax (seller's permit), and unemployment insurance tax.
If you plan to sell products and you are required to collect sales taxes, you will likely need to obtain a Sales Tax Permit or Vendor's License from your state or local government (or both).
The State and Local Tax page is a good place to learn more about your state and local tax registration requirements.
Source: sba.com

• Online Small Business Training
• Finding a Mentor
• Local Resources

Small Business Credit Cards

Even businesses with only one or two employees should take the time to have separate small business credit cards. According to the United States Small Business Administration, 65 percent of small businesses regularly use credit cards, but only 50 percent of the cards used are actually in the name of the business. Why does this matter? It puts personal credit at risk on business expenditures.
Owning a small business is a risky venture, especially in today’s turbulent economic times. It is important to keep personal finances out of the way of the risks business spending can bring. Because of this, it is important to learn about the benefits small business credit cards should provide.
What Makes Small Business Credit Cards Different
Some small business credit cards offered by banks and credit unions do not provide much of an advantage over personal credit cards. Because of this, it’s important to shop around and find the small business credit cards that actually do provide advantages. According to the United States Better Business Bureau, these advantages should include:

• Business Spending Reports: Many small business credit card providers include this service with the cards they issue. This free reporting tool, usually available through the account manager online, organizes business credit card transactions into spending categories, which makes expense management easier to deal with.
• Higher Spending Limits: Often, small business credit cards provide higher spending limits than a personal credit card, which is often necessary to help with operating cash flow.
• Multiple Cards: For a business with multiple employees, cards can be issued to different people on the same account. Most small business credit card providers also include tracking for each employee’s spending.
• Perks and Rewards Programs: Because of the higher spending limits, and the frequency with which businesses use their credit cards, it is easier to take advantage of the perks and rewards programs most credit card companies offer.

The added benefits of a small business credit card may mean a higher APR, but this is not a concern if the balance is paid in full each month (which is recommended, if possible). Making sure the balance is paid each month, or at least kept low, is usually possible through online banking and automatic payments.
Credit cards in the business’s name also help build a credit record for the business itself. If payments are made on time and the balance is kept manageable, this can help later on when applying for small business loans, grants, and other types of financing. Other tips for building a business credit reputation include establishing a consistent business identity, providing key documentation, and applying for a DUNS number from Dunn & Bradstreet, the most important business credit reporting agency.
As always, when dealing with credit or financing of any kind, it is important to watch out for fraud when applying for small business credit cards. Using a well-established bank or community credit union is the most reliable way to go. Though small business credit cards are often offered through online promotions, if it sounds too good to be true, it probably is.
Source: sba.com

 

Why You Might Lose a Customer

Why You Might Lose a Customer 

.A problem was not resolved
.They moved out of your selling area
.They are unhappy with your product/service
.They found lower prices & higher value elsewhere
.Your competitor has a better selection
.They don't feel their business is appreciated

.You stopped saying Thank You after every sale
.They had an argument with an employee

.They had an argument with the owner
.Technology left you behind

.Poor "customer experience"
.A competitor stole them away

.A new generation wants changes
.They now have a relative in the business
.Delivery took too long
.They no longer use your product/service

.Your products now outdated
.They can't afford to buy
.Your hours don't fit their schedule

 

Most of these can be fixed by making changes in how you do business. Responding to customers new wants and needs will enhance the customer experience for everyone. It's time to get out of your comfort zone and make positive changes.

Barry is a speaker and business coach www.idealetter.com

Make Your Business Plan Stand Out

One of the first steps to business planning is determining your target market and why they would want to buy from you.

For example, is the market you serve the best one for your product or service? Are the benefits of dealing with your business clear and are they aligned with customer needs? If you're unsure about the answers to any of these questions, take a step back and revisit the foundation of your business plan.

The following tips can help you clarify what your business has to offer, identify the right target market for it and build a niche for yourself.

Be Clear About What You Have to Offer

Ask yourself: Beyond basic products or services, what are you really selling? Consider this example: Your town probably has several restaurants all selling one fundamental product—food. But each is targeted at a different need or clientele.

One might be a drive-thru fast food restaurant, perhaps another sells pizza in a rustic Italian kitchen, and maybe there’s a fine dining seafood restaurant that specializes in wood-grilled fare. All these restaurants sell meals, but they sell them to targeted clientele looking for the unique qualities each has to offer. What they are really selling is a combination of product, value, ambience and brand experience.

When starting a business, be sure to understand what makes your business unique. What needs does your product or service fulfill? What benefits and differentiators will help your business stand out from the crowd?

Don’t Become a Jack of All Trades-Learn to Strategize

It’s important to clearly define what you’re selling. You do not want to become a jack-of-all trades and master of none because this can have a negative impact on business growth. As a smaller business, it's often a better strategy to divide your products or services into manageable market niches. Small operations can then offer specialized goods and services that are attractive to a specific group of prospective buyers.

Identify Your Niche

Creating a niche for your business is essential to success. Often, business owners can identify a niche based on their own market knowledge, but it can also be helpful to conduct a market survey with potential customers to uncover untapped needs. During your research process, identify the following:

• Which areas your competitors are already well-established
• Which areas are being ignored by your competitors
• Potential opportunities for your business

Source..... sba.gov

Business Plan - Executive Summary

What to Include in Your Executive Summary If You Are an Established Business
If you are an established business, be sure to include the following information:

• The Mission Statement – This explains what your business is all about. It should be between several sentences and a paragraph.
• Company Information – Include a short statement that covers when your business was formed, the names of the founders and their roles, your number of employees, and your business location(s).
• Growth Highlights – Include examples of company growth, such as financial or market highlights (for example, “XYZ Firm increased profit margins and market share year-over-year since its foundation). Graphs and charts can be helpful in this section.
• Your Products/Services – Briefly describe the products or services you provide.
• Financial Information – If you are seeking financing, include any information about your current bank and investors.
• Summarize future plans – Explain where you would like to take your business.

With the exception of the mission statement, all of the information in the executive summary should be covered in a concise fashion and kept to one page. The executive summary is the first part of your business plan many people will see, so each word should count.
If You Are a Startup or New Business
If you are just starting a business, you won't have as much information as an established company. Instead, focus on your experience and background as well as the decisions that led you to start this particular enterprise.
Demonstrate that you have done thorough market analysis. Include information about a need or gap in your target market, and how your particular solutions can fill it. Convince the reader that you can succeed in your target market, then address your future plans.
Remember, your Executive Summary will be the last thing you write. So the first section of the business plan that you will tackle is the Market Analysis section.
Source... sba.gov

Can You Catch a House Fly?

Trying to attract a new retail customer is like trying to catch a house fly in your kitchen. As soon as they land somewhere they are off again to another place. If they are attracted to your business by a low price they will surely leave you for another low price somewhere else. Price is not the answer, value is the real answer. When they feel they are getting more that the money they are spending they may show some loyalty. The trouble with retail customers is that you have to keep convincing them that you are the best choice for the product or service they want or need.

Retail customers are hard to pin down, they won't spend their money in the same place unless the customer experience is outstanding! There are many things that go into that 'customer experience' and the market is always changing. Once your competitors see what you are offering or providing (believe me they are watching you) they will try to offer somthing better. Your job is keep coming up with new ideas that your customers have asked for (if they don't ask, you ask them). Don't let them fly away because it will be hard to get them back.

Barry is a business & franchise coach and speaker on outstanding customer service. www.idealetter.com

Share of Bonus for Everyone

Giving back to employees is what small business owners can do to show appreciation for a job well done. But why should only the sales people, customer services or front line reps be the only ones to receive it? What some sales people fail to realize is that without the back-room and back-up people doing their job well, the job of selling would be much more difficult. In fact, without the full support of everyone, their selling and customer contact tasks would be virtually impossible.

Owners and managers should understand this also. No customer is served or made completely satisfied without the full force of the entire organization involved. So when it comes to bonus', rewards, celebartions and perks, everyone needs to be included. Everyone means shipping, accounting, maintenance and clean-up people, everyone. You will soon find that the future sales goals and high level of service to customers will enhanced. Employees will also police each other because they are all trying to reach the same goals and rewards.

Barry is a business coach and speaker. www.idealetter.com