Jun 14

 

Poland is a popular tourist destination, with a charm and elegance of its own. The natural beauty of the country is accentuated by the hospitality offered in the magnificent hotels that cater to everything to make the holiday a memorable and enthralling one.

The hotels in Poland are awarded star ratings in accordance with the standards maintained by them and the kind of services and amenities offered. The hotels are synonymous with sophistication and elegance. There is a touch of royalty and the services are reminiscent of the rich cultural heritage of the country. The exteriors of the hotels replicate the architectural designs and grandeur distinct to the land.

The interiors of the rooms are exquisitely designed and the décor mirrors the flavor of the era gone by. They are not the typical ultra-modern hotels, loaded with modern equipment and seen in most countries. Instead, they offer all the luxuries to make the stay comfortable and relaxing, within the ambience created by the ancient designs. The polish hotels have a distinctive culture reflected in the activities hosted within the hotel premises, the food served in the restaurants, and the decor.

The facilities offered include the multi-cuisine restaurants that serve international favorites as well as the local delicacies. The hotels offer high standards of customer service, from the check-in to check-out. The local visitors and tourists are treated with care, and all their needs are personally addressed. Many hotels give regular customers gifts and even include welcome drinks and free snacks.

The reservations can be made online and the confirmation of the reservation is sent promptly through email. The Polish hotels are known for the comfort and luxury they provide and are the classic example of the inherent tradition and culture.

Jun 09

It’s tough out there, particularly because of layoffs and our sluggish economy. So what’s a small business entrepreneur trying to make a living to do? Try these low-cost pricing strategies to keep sales moving.

TACTIC #1 — Never simply slash your prices, unless you’re trying to empty obsolete inventory. Instead, try repackaging your prices so they’re more affordable in the short-run so more prospects can afford them. For example, rather than pricing your service for the year, “Our monthly newsletter is only $39 for the year.” Instead, try “Our monthly newsletter is only $3.25 per month.” If you accept credit cards, it’s very easy to set up reoccurring monthly charges that are billed to your subscribers without having to intervene every month beyond the initial account set up. The upside to offering your subscription on a monthly basis is that you can now market a $3.25 headline versus a more expensive $39 headline, i.e. you’re able to offer services at a more affordable rate without slashing prices.

ANOTHER EXAMPLE
Here’s another example. Just last night I was on the phone with a potential marketing client. As a small business owner she’s trying to get some marketing help and is on a tight budget. My standard hourly consulting fee is $225, which is not always appealing to some businesses. However, in trying to work within her budget I suggested that my services could be more affordable for her if she allowed me to help her through email instead of face-to-face or on the phone. Let’s face it, when you’re on the phone with a client it takes longer to accomplish what you’re doing since you’re not only answering their questions, but you’re building a relationship and talking about unrelated topics. It’s difficult not to. In fact, you should! No matter what type of consultant you are, building a successful business is not about the initial sale, it’s about establishing a long-term relationship with customers. One-off sales don’t lend themselves to growing a profitable business; rather, deep customer relationships do! However, since I was able to establish a trustworthy and comfortable relationship with my prospect on the phone, she thought my marketing services through email would be a win-win. Did I slash my prices? No, instead I found a more efficient way to offer my services, whereby I could offer them in less time and therefore, my client will pay less money. This strategy could work for business coaches, fitness experts or personal chefs, when the latter prepares meals in her home rather than in a client’s home.

TACTIC #2 — Create tightly niched product or service offerings. For example, if you’re operating a personal concierge service, rather than just offer errand services at $25 an hour, try prepackaging specific errands with associated lower pricing. Why? Because you can offer a more aggressive price when isolating your fee to one particular service. If your customer challenges your reduced price as compared to your higher hourly fee, your response is simply, “I’m able to offer this lower packaged price because of economies of scale. While I’m out delivering your bundles to the Post Office, I’m also delivering packages for five other customers.” Ultimately, your customers will never know how many other customers you’re delivering for that day; however, the key is not to simply slash your pricing because you believe that reducing your prices will bring you more business. The key is to provide consistent and professional pricing practices.

P.S…Yes, business is slow for many entrepreneurs right now; however, be cautious with your pricing methods. Don’t simply slash prices; instead incorporate long-term and short-term strategies that are always complementary to each other. If you offer a product for $15 today, then again at $35 six months from now, you must have your reasons in place, otherwise you’ll aggravate your customers.

About the author:
Sharron Senter

Jun 09

Copying contracts from the Internet is a bit like wearing your old cousin’s hand-me-down dresses . . . in order to walk into abee’s nest (an incongruous image, I know): yes, you’re “covered,” but the style is outdated and they usually don’t fit you well. Plus, they won’t provide you with the protection you need for your particular purpose.

Most small businesses can’t afford the Versace of contracts, and, frankly, it’s often not necessary. Sometimes, Kmart will do nicely. However, when you download something for free, it’s usually worth what you paid for it. Internet contracts need to be mended and altered to make sure they truly fit how you want to do business. But if you have limited experience in making clothing, you risk having the garment unravel at the seams if you try to do it yourself.

In the interest of saving money, you may have downloaded a
freebie contract from the Internet. But it’s often what you don’t know - and what’s not included in the document — that can hurt you. Internet contracts can be helpful resources for identifying issues for you to think about, but are usually not well thought out, nor are they tailored to the needs of your particular business. If an agreement is not drafted in your favor, it may not give you the flexibility and protection that you really need from your business relationships.

For example, I know of business owners who have formed limited liability companies (LLCs) and have downloaded their ownership agreements from the Internet. When “Jemma” got hers from a freebie Internet site, it looked long enough and comprehensive enough, so she and her co-owner (neither of whom are lawyers) signed it. Four months later, Jemma wanted to move to a different state to accommodate her husband’s career path; plus, Jemma learned that she was pregnant. So the time was right to transition to her new stage of life. But her LLC agreement only allowed her to leave the business (1) if she had died (which she hadn’t) or (2) as long as her co-owner agreed (which she didn’t). In short, Jemma’s agreement had no meaningful “exit strategy.” And Jemma did not know that these were among the issues she needed to focus on in creating and signing such an agreement. There were a whole host of things that the LLC agreement did not include, such as how to deal with the client base that each owner brought to the business, how to place a dollar value on the intellectual property that each owner contributed, and how to leave the business should life changes (other than Jemma’s death) arise. Jemma’s agreement didn’t cover any of these issues. In the face of an irate business partner and an insufficient agreement, Jemma found herself staring down the barrels of (1) a lengthy and expensive lawsuit to dissolve the business or (2) a less expensive (but more costly than it needed to have been) way to extricate herself from her business partner.

Similar things can happen with even the simplest of contracts
with your customers. Download from the Internet all you like, but recognize that the document you copy (1) may not reflect the most recent changes in the law (how will you know? - ask a lawyer!); (2) may contain provisions that are harmful to your business (or omit ones that could help you), and (3) may not properly reflect how you want to do business with your customers. Internet contracts may raise some of the important issues, without a doubt. But they don’t necessarily deal with the specific issues of your situation. In short, when downloading from the Internet: “one size fits all” usually means that “one size fits none.”

How to avoid this pitfall: ideally, by working with an attorney
who really understands the legal issues that small businesses
face. Although some entrepreneurs may try to economize with a do-it-yourself approach, they often end up costing themselves more because they are not trained, as attorneys are, to spot the issues and problems that can harm them. Taking the time to find a lawyer who meets your needs is one of the best investments you will ever make in the growth of your business. Find out more about how to hire and work with attorneys - and keep your costs down - by listening to the free audio class available through http://www.WiseCounselPress.com. With the help of your lawyer, you can start to make the smart decisions that will protect your company and save you money!

About the author:
Nina L. Kaufman

Jun 09

A good salesman is born that way; it is not a learned behavior. End of story. Go solve another mystery. This one is over.

Crack any sales help book and you’ll find all of the traits the author says a good salesman must have. He must be an early riser, well-organized, diligent, a great communicator, well-dressed, punctual, tactician, statistician, creative, bold, a great listener, a great talker, assertive, convincing, analytical, and maybe mystical. He must be a planner, a time conservationist, and posses the ability and desire to always win. His presentation has to be polished, his words impeccable.

WRONG!

A real salesman has the innate ability to make people like him and listen to his ideas. You can’t learn it in any book or sales course. You’ve got it or you don’t. It’s magnetism, plain and simple. People buy from people they like not because of a superior product, killer service, and never price.

If you really like people and enjoy the game of getting them to see your point of view, you’re a natural born salesman and will do well, very well. In fact, you’ll be in the top income percentage of all professions.

If you spend all of your time trying to “learn” sales techniques, you’ll look forced and unnatural. Look for work that better suits your temperament. A true salesman is born, not made.

About the author:
Brian Grinonneau

Jun 09

How would you like to get paid to go shopping? That’s
right! Get paid to shop for clothes, eat in restaurants,
watch movies, play golf, travel, and so on.

You can have your cake and eat it too! Enjoy the best of
both worlds. Make money and have fun at the same time as
a mystery shopper.

What is a Mystery Shopper?

Sometimes known as a secret shopper, a mystery shopper
looks like any other customer but is working undercover
to perform market research or other tests on business
establishments.

For example, a mystery shopper may check on the quality
of service and products at a particular fast food outlet.

Were the staff friendly, courteous and helpful? Were the
washrooms clean? Was the food hot and tasty? Did the staff
attempt to upsell? Was the order filled accurately and
quickly?

Why the Need for Mystery Shoppers?

Companies are concerned about the quality of your
shopping experience. If there is a problem, they
would like to know about it so that they can take
corrective action and keep you as a customer.

For this reason, businesses hire mystery shoppers
to check on their locations and report the results.

As well, comparison shopping can reveal pricing and
service differences of the competition.

Mystery shoppers sometimes uncover safety or security
concerns and other helpful information.

How To Make Money as a Mystery Shopper

You can make money as a freelance mystery shopper.
Contact market research companies and other businesses
to obtain clients.

As an independent contractor, you will invoice clients
your fees for services rendered. As well, you will
be reimbursed for any direct expenses incurred (such
as the cost of store purchases).

It is also possible to run your own market research
company and subcontract out the work. You would
need to get business clients who are willing to pay
for these secret shopping assignments. Then, find
suitable people who are willing to perform those
assignments for you.

Variety is the Spice of Mystery Shopping

Your assignments as a mystery shopper can be varied
and interesting.

One time you may eat in a fast food restaurant. Another
time you may be asked to see how long it takes to get
service from a company by telephone.

Perhaps you may be asked to shop at a website to
check out its user friendliness. Still another
assignment may require you to rate the helpfulness
of store staff.

So, if you would like to have fun while making money,
consider becoming a mystery shopper.
J. Stephen Pope, President of Pope Consulting Inc.,
has been helping clients to earn maximum business profits
for over twenty-five years.

To learn more about mystery shopping, visit
http://www.yenommarketinginc.com/mystery-shopper.html

For profitable Work at Home Small Business Ideas, visit
http://www.yenommarketinginc.com/

About the author:
J. Stephen Pope

Jun 09

It’s time to thin the ranks and fire some customers. That’s right, can ‘em, send them packing and tell them their business isn’t welcome here anymore. Sound crazy? It’s crazy if you don’t!

Why would anyone fire a customer? Simple. It’s costing you too much time and money to keep them around. This is obviously not an exercise where you send termination notices to valued clients. This is an exercise to get rid of the dead wood.

As you scan your list, there will be a certain type of customer that deserves the ax. Here is the profile: They always quibble over price and once they’ve stripped your profit margin, will pay slow, real slow. This customer is never happy with your service no matter what you do. They can’t be pleased. This soon-to-be-ex client never refers any new business to you and try as you might you cannot establish a working relationship. They have no loyalty to you and will jump as soon as they get a better deal from someone else. They call and complain often threatening to take their business elsewhere. Let them go.

In today’s marketplace where superior customer service sets apart the winners from the losers, discussion about shedding customers isn’t always popular. Running your business isn’t a popularity contest, it’s about doing what’s best for the future. Fire some of your customers. Your business will be better and so will you.

About the author:
Brian Grinonneau

Jun 09

When you are on the lookout for superior information relating to brokers, it will be tricky sorting out the best information from ill-equiped brokers submissions and help so it is important to know ways of moderating the information offered to you.

VR Business Brokers: Dallas Brokerage Dealer
Texas Business Brokerage, Mergers & Acquisitions, Business Valuation, and Consulting services for small businesses and mid-market companies.

Here’s several guidelines that we believe you should use when you’re searching for information regarding brokers. Hold in mind any recommendation we may offer is only pertinent to internet based information concerning brokers. We don’t really offer any direction or assistance for researching in ‘real world’ situations.

Daniels Trading: Brokerage Dealers
Select group of futures and options brokers provides multiple trade execution services, proprietary advice, client support, research, and education.

A good hint to track when you’re presented with information and suggestions on a brokers website would be to confirm the sites ownership. This could reveal the people behind the website brokers credibility The easiest way to work out who is at the back of the brokers site is to look for the ‘about’ page.

All highly regarded sites providing information about brokers, will almost certainly provide an ‘about’ webpage which will list the owner’s details. The details should let you know some indication concerning the owner’s requisite knowledge. You can then make a judgement about the vendor’s education and practical knowledge, to offer help regarding brokers.

About the author:
Tom Brown

Jun 09

What is factoring?

Accounts receivable financing, also known as factoring, is a powerful financial tool that has fueled the growth and success of a number of companies.

Factoring enables companies to capitalize on their unpaid receivables by selling them to a factoring company for immediate payment. With factoring, companies

immediately get paid for their invoiced work from the factoring finance company, while the factoring company waits to be paid by the customers. Factoring

strengthens a business’ cash position by shortening the time to get invoices paid to 48 hours and providing the needed funds to meet current expenses and

target new opportunities.

Factoring Benefits

As opposed to loans and lines of credit that require that the client have tangible assets and strong financials, factoring relies more heavily on the

financial strength of the clients’ customer. This is a critical feature,since many new and small businesses do not meet the financial criteria of traditional

lending institutions. However, many small businesses have a roster of financially strong customers that can be leveraged. Factoring empowers businesses to

capitalize on their customer list, and provides them with a tool to transform outstanding receivables into immediate cash, without generating debt. Since

Factoring is not a loan, it is an ideal financial product for the following:

o New and emerging businesses including small and home businesses, consultants and solo-preneurs.
o Businesses with financially strong customers
o Businesses that are preparing to grow significantly
o Business with intangible assets (e.g. consultants)
o Businesses that do not want to take a loan

An additional benefit of factoring is that the factor usually assumes part of the clients’ credit risk for the customer. This means that if the customer

becomes financially insolvent due to bankruptcy and does not pay the invoice, the factor will assume the loss. This is a critical service for small companies

who may not be able to afford the bankruptcy of a customer.

Costs

The costs of a factoring transaction - also known as the discount - vary based on a number of variables such as the financial strength of the customer and

the amount being factored. Generally, the discount is a percentage of the invoice’s face value that increases with time until the invoice gets paid. Small

businesses, those that have between $20,000 and $300,000 in yearly revenues, can expect to pay a discount rate of about 2% for every ten (10) days that the

invoice remains unpaid. Businesses with factorable revenues in excess of $300,000 can expect lower discount rates.

Factoring at Work: Business Services and Products, Inc. Case Study

Business Services and Products, Inc. (BSP, Inc.) is a small fictional company, which provides business consulting and equipment to local companies. It has

$300,000 of annual revenues and during the past year BSP Inc. has enjoyed significant sales growth. Although most business owners would be very happy to

manage such a company, Jane Sullivan, BSP Inc’s president, is very worried about her company’s financial position.

Most of BSP Inc.’s customers are large companies with a good reputation for always paying their invoices. However they always take between 30 to 45 days to

pay them. BSP Inc., however, needs to pay their employees every two weeks and their vendors every four weeks. This discrepancy between the time that

customers pay their bills and the time BSP Inc. needs to pay their employees and vendors has created cash flow problems in the past. Furthermore, these cash

flow problems have already caused Jane to delay payroll twice this year and have placed her trade (vendor) credit in jeopardy multiple times. This has also

caused her to pass on a number of significant business opportunities because she was unsure of the company’s financial ability to hire and pay for additional

staffers. Unfortunately, BSP Inc. did not have a large enough financial cushion in the bank to afford paying employees while waiting for 45 days new clients

to pay their invoices.

The following table provides an overview of BSP, Inc’s current financial position.

Business Services and Products, Inc (without financing)

Yearly sales: $300,000
Lost new sales opportunities: Unknown
Total Sales: $300,000

Variable Costs (60% of Sales): $180,000
Fixed Costs (Rent, phones, etc): $20,000
Total Costs: $200,000

Profit (Sales - Costs): $100,000

Although the company’s prospects appear great, Jane may have to stall her company’s growth until she builds a large enough cash cushion at the bank to

finance her company’s growth. After careful consideration, Jane decided that a factoring line of working capital could help strengthen her company’s

financial position. Furthermore, factoring her invoices would enable BSP Inc. to take on new customers and continue growing, knowing that she could

capitalize on her slow paying customers. BSP Inc.’s financing agreement will provide the company with an advance of 70% of her invoiced services. This means

that the company can get 70% of the face value of the factored invoices within 24 to 48 hours of submitting them to the factor. The remaining 30% of the

funds, less the factoring fees, will be quickly rebated as soon as the customer pays their invoice.This line of working capital strengthened the company’s

financial position and bank account, enabling Jane to pay for new employees to service new contracts. Jane also decided to use the extra capital to pay her

vendors early, obtaining quick payment discounts and helping to reduce the cost of factoring.

BSP Inc. customers pay their invoices within 30 days of receipt. The discount (factoring fee) for these invoices is 6%. Every time an invoice is paid, the

factor rebates BSP Inc. the remaining 30% that was not advanced less the factoring fee. This means that once the transaction is completed, the factor rebates

24% (30% - 6%) to BSP Inc. Thanks to the factoring line of working capital, Jane was also to secure an additional $120,000 worth of business, bringing her

annual revenues to $420,000.

The following table shows BSP Inc.’s financial position a year after using factoring.

Business Services and Products (with factoring)

Existing Sales: $300,000
New Sales: $120,000 (factored)
Total Sales: $420,000

Variable Costs (60% of Sales): $252,000
Fixed Costs (Rent, phones, etc.): $20,000
Cost of Factoring (6% of $120,000): $7,200
Total Costs: $279,200

Net Profit (Sales - Costs): $140,800

As can be seen from the above table, factoring helped BSP Inc. increase profits substantially from $100,000 to $140,800 - a 40% increase. It placed BSP Inc.

on a more stable financial footing, priming it for growth. Furthermore, the cost impact of factoring on the bottom line was minimal, as it was easily

absorbed by the additional business, showing that factoring was paid for directly by the growth.

Jun 09

Are you planning to start your own small business? Are you beginning an online business or turning an offline brick and mortar business into an online business as well? What do you need to know to get started on the right foot from the get-go? You need to know that it is very important that you take the proper steps to do it right the first time. This can save you thousands of dollars and years of frustration.

So just what are the skills that you need to learn to be able to supercharge your online business? How do you turn your investment into a money making venture for you? You should know that to truly be successful, you can’t fall prey to those so-called “get rich quick” schemes. You need to have an actual product that people want, a solid plan for marketing as well as a plan for residual and passive income. You need to have the skills as well as the right mid-set to make your business soar!

Learning the Skills

Many people get a great idea for a small business or an online business but they are not able to carry it out successfully because they do not take the time to learn the proper skills. There are different things you need to learn and things you need to be prepared for before you can expect to be successful with your online business.

You need to learn everything you can about online marketing. Even if you have run a business before offline, it is much different with internet marketing. You need to learn the skills to be able to do this properly. You need effective internet marketing strategies. You need to understand your buyer. Your customer or potential customer is the most important part of your business. You need to know how to bring that customer in. You need to make them see why they need your product or service. You need to please the customer so that they will return, tell their friends and more.

You need to know how to generate free online traffic and how to bring more people into your website. You need to have a cutting edge look for your site as well as an ease of use for the customer or they will not want to come back to you, or even to use your site at all. You need to have the best resources as well as be able to get first page ranking in search engines so that people find your page.

Have the Right Mind-Set

Another thing that separates the successful online businesses from those that flop is that you need to have the right mind-set. When you first go into the business, you need to be ready to make money and you need to take it with the right kind of attitude.

You need to think success to be successful. Your state of mind is more important to the success of your business than you might think. In fact, it can play a huge role in whether you are successful or not. You also need to recognize that your customers are important to your success as a business and you must always show this.

Get Ready to Make Money!

If you follow the advice above and take all the proper steps to super charge your small business online, you will notice the cash flow begin to increase. You will be amazed at the traffic your site will receive and the money you will make if you do it correctly. If you go into the business prepared, with the right mindset and by taking advantage of all the tools that are there to help you, you will see a huge success!

About the author:
Monique Hawkins

Jun 09

Would you like to know how a car wash chain with only 12 locations has cleaned over 33,373,975 cars and has an annual revenue of over $40 Million (that is not a misprint) using little to no paid advertising?

Well, sit forward because I’m about to tell you. The company name is “Car Spa” and here’s how I discovered their brutally effective referral strategy. I often go to Taco Bell to have lunch and read a book. I noticed a little flyer next to their cash register.

A few days later I stopped in with my family to get a frozen yogurt and right next to the cash register was the same flyer.

The next day, I took my family to our favorite buffet restaurant and low and behold, there was a stack of Car Spa flyers.

I then started asking the people at these locations what the deal was with the Car Spa flyer that they had next to their cash register and they all said that some old guy comes around every week and replinishes their stack.

I asked them, “Do you have some type of reciprocal arrangement with Car Spa?” They all said, “No…they asked if they could put their flyers there as a gift to our guests and we said sure.”

Here’s a copy of the referral flyer that Car Spa uses to drive traffic.
http://www.marketingbestpractices.com/temp/car_spa.pdf

Pretty simple. Notice the 48 hour guarantee.

______________________________

They’re All Over the Place!
______________________________

Before you knew it, I started noticing their little discount flyers ALL OVER THE PLACE.

The copy center I use had a stack of Car Spa flyers.

The barber I use had a stack of Car Spa flyers.

The oil and lube place I use had a stack of Car Spa flyers.

The local handicraft shop my wife goes to had a stack of Car Spa flyers.

My son’s dentist had a stack of Car Spa flyers in his office.

My local chiropractor friend had a stack of Car Spa flyers in his office.

An apartment complex office I visited had a stack of Car Spa flyers.

Everywhere I went, I saw a stack of Car Spa flyers. It was amazing. The have these little “referral lead generation magnets” all over the place.

______________________________

So I Finally Visited Car Spa
______________________________

And it wasn’t any surprise that they were so busy that it took about 15 minutes of waiting just to get my car into their car wash.

I then went inside their office to wait for my car and noticed that they did NOT have one flyer from another business inside their office.

They were able to get all those other businesses in the area to send them referrals without having to do one reciprocal referral arrangement. And they did it simply by asking the business owners. That’s all.

Car Spa probably gets 100 times the amount of referrals of any other business in the area as a direct result of this simple referral tactic.

If you have a brick and mortar business, what’s stopping you from doing the same thing? All it takes is a couple of hours a day and a handful or referral flyers to pass out.


About the author:

David Frey

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