Making the Best of Your Home Equity Loan

This is a relatively new line of credit that improves on the personal loans. You are granted a loan without being asked what you will do with the money and using your home as a security. We would like to give you some considerations so that you will not find yourself in unnecessary trouble. More »

Opening a Business Checking Account Online - What to Look For

If you are starting a new business or if you have a small business already but are not happy with your checking account, a new business checking account may be in order. It goes without saying that you face a wide range of choices in banks and types of checking accounts. More »

Is Easy to Make Money from Home Based Data Entry Work?

Many people around the world so much knowledge about these devices is not destruction. In his view, mining, extraction of earth resources. Internet technology these days, the data is extracted from new resources. There are many software tools to extract data as are available on the Internet to retrieve specific data from the Web. More »

Secured Business Loans: Give Wings to your Business

Business is nothing but pure economics. If the economy is good, you gain profits and if it is in the reverse direction, you loose money. It is only for those who have the conviction and ideas, can sustain and succeed in a business. Other than these, you need to invest so that you get returns from the market. But if the finances are not available to you, grab a secured business loan. More »

Guide to Secured Loans

These loans work well for funding major financial needs like buying a house, investing in property or business, child\'s higher education, etc. More »


Tag Archives: small business

What Are Your Responsibilities as a Business Coach?

Everyone in America is looking for new and different ways to create income.  If you are one of those individuals and have a business management degree or experience in business management, there is a fantastic opportunity waiting for you.  That opportunity is working as a business coach.  With today’s struggling economy, once profitable businesses are losing money.  Unless help is sought and fast, those businesses may have to close their doors.  They need you!

As nice as it is to hear that you can make money working as a business coach, you need more information.  Most importantly, you need to know what is expected of you.  What job responsibilities do business coaches have?

Education. As a business coach, you are the expert.  You have schooling or experience that makes you qualified to run a business.  You know what works and what doesn’t.  Unfortunately, many home based business and small business owners did not think their plans through.  They realized they could make money and jumped in with both feet.  Action is good, but having knowledge and experience is even better.

It is your job as a business coach to educate them on how to properly run a successful and profitable business.  To do this, dissect the key components of running a business.  These include leadership development, proper communication, teamwork, organization, resolving workplace conflict, sales, and marketing.  Those who started a business on a whim may not see the connection between these important components and profits.  You need to show them.

Setting examples.  As a business coach, your job is to educate and teach a business owner how to run a successful and profitable business.  You are just like a sports coach, you teach the team plays to run.  Do not do the work yourself.  You can however, set examples and give continued instructions.

For example, organization is key to business.  In the retail industry, an unorganized sales floor turns off customers.  They want to shop where it is easy to find what they need, easy to walk through the aisles, and so forth.  If your client’s retail store is unorganized and unclean, give team members a shopping cart and a list of items to pickup.  Let them see for themselves how hard it was to shop.  Then, give them a few suggestions, such as removing bulky displays from the middle of the aisle.  Run through one play yourself, but let the team do the rest of the work.

Reviewing. You can educate your clients and show them ways to improve productivity, organization, marketing, and sales, but there are no guarantees.  As soon as you leave or end a training session, your client and their employees can revert to their old habits.  Include a review in with your fees.  Return a week or two after your training sessions.  Have things changed?  Did the company utilize your tips or did they return to normal habits?

If you return to a client’s place of business and do not see improvements, don’t start the process again, especially for free.  Verbally repeat the important components of running a business and restate some of the tips you shared.  Before leaving, warn your former client about the dangerous path they are headed on.  Unless they offer to pay for your services again, your hands are tied, but at least you made an attempt.

Summary As you can see, you will be wearing many hats.  If you ad some of the work that your clients many not have the expertise to do, you can do some of that yourself, or even potentially outsource it.  Keep in mind that you will need to package your services and explicitly spell out what your rates are for each specific request.  You will find business coaching lucrative, challenging, and rewarding.

Small Business Owners: Go Online-Go Offline Or Both

Offline business owners are trying to take their business online. Online business owners are trying to take their business offline. Maybe everyone should do a little more of both.

Until recently small business owners were primarily thought of as off line businesses. They could be a micro-businesses like a one or two man shop. They might have a handful of employees or even up to 100 or so.

Today’s small-business owners can find themselves both working out in the real world and on the World Wide Web. Many businesses are realizing the advantage of doing both.

For example Internet business owners have the benefit of not needing a lot of employees. However to make their business grow faster they are outsourcing day to day tasks. Some of them are even finding real cost savings in countries such as the Philippines or India.

Off line business owners have often relied on a specialist to do their advertising for them. This could include the yellow page rep for advertising in a local yellow page book. It could also include a sales rep for newspaper, radio, television or direct mail.

Many Internet businesses are promoting in local newspapers. Some savvy Internet business owners are actually doing Internet advertising for local offline businesses.

Small business owners are looking to these type of individuals to help them establish an online presence. As off-line advertising such as Yellow Pages continues to dwindle having a strong local Internet presence is really beginning to pay off.

One thing that both off line and online businesses can benefit from his email marketing. Every off-line business should have a website with a sign-up form on it. Internet businesses that are promoting off line find themselves promoting landing pages that directly build their list.

All advertising continues to be expensive. There is a very big advantage to building an email marketing last that can be accessed at any time.

Off-line small business owners can run a sale and let their email list know about it. This can bring customers into a store or help make the phone ring for a seasonal business such as landscaping or air conditioning.

Internet business owners can promote their website directly in a newspaper ad. Unlike a static yellow page ad they can make changes to their website to match the type of ad they just ran in the newspaper. As you can see there are many benefits for small business owners to be both offline and online at the same time.

If you find yourself doing more of one than the other you may want to re-evaluate how you are currently promoting your business. Having more of both off-line and online advertising can mean a huge impact on your bottom line!

Bootstrapping: How Cutting Down May Be the Key to A Successful Small Business

Almost all of us know that starting a small businesses can be fun, exciting and thrilling, however it can also be downright scary. The owners of any beginning small business know the meaning of bootstrapping; keep every penny, hold on to each dollar, and in general, save until the revenue is consistently flowing in. In this way you don’t have to worry about debt as you try and get your business off the ground; you can focus on revenue increasing tasks. The following are some things you may want to consider when creating your business plan. 

First of all, don’t start big. It’s ironic that the best businesses did not spend a fortune in franchise fees, hire a huge staff, or even start with venture capital funds. They began small; a small business owner understanding a need, filling that need, and slowly adding products, services and people. Web businesses are obviously an ideal small business, but there are plenty of others that you can also do from home. 

Going hand in hand with keeping it small is starting out with your own money. Don’t even think about getting money from others before you manage sale number one. If you are confident in your product or service, you need to take a chance on yourself with your own money. In fact, this can naturally force you to pay attention to your spending, and help you make better informed decisions. 

Another interesting tidbit is to not quit your day job. Start out part-time in your new business and ensure that you know the market and the opportunity. As your small business proves fruitful and shows promise then you can take the leap to a full-time job. This provides a money cushion for you, thereby lowering your stress level. 

Start on your own, and outsource later. While outsourcing labor may prove a much easier time for you as a small business owner, it will also add additional costs that you may not yet have the money to pay for. <A rel=”nofollow” onclick=”javascript:_gaq.push([‘_trackPageview’, ‘/outgoing/article_exit_link’]);” href=””>benefit outsourcing</a> through <A rel=”nofollow” onclick=”javascript:_gaq.push([‘_trackPageview’, ‘/outgoing/article_exit_link’]);” href=” /”>professional employer organization</a>, however, is another matter. While you are only a one person business, being able to bask in the shade of the umbrella of benefits can really have an impact on the personal aspects of your life, such as insurance.

Talk to other small business owners. You don’t have all the ideas, you don’t know everything, but someone else has been through it before – speak with additional small business owners in your area, listen and learn. Ask about their experiences with different <A rel=”nofollow” onclick=”javascript:_gaq.push([‘_trackPageview’, ‘/outgoing/article_exit_link’]);” href=””>PEO services</a> and PEO companies 

Obviously these tips are not just for the new small business startup. We believe that these are recommendations to be used by all businesses, being efficient is always a good thing. Small businesses that are survivors don’t stay small businesses for long.

Research Highlights the Importance of Holidays for Business Owners

New research from business comparison service Make It Cheaper has indicated that 29% of business leaders are reducing their holiday time this year, citing financial worries and lack of trust in their staff as the main reasons.

Worryingly nearly 60% of those who were interviewed said that they recognised the risks of not taking time off work at some point during the year and openly admitted that they fear that they could be affected by stress or exhaustion.

Lack of Trust

Many small business leaders and sole traders fear that their business may suffer if they leave the business in the hands of someone else and take time off for themselves. Being able to leave the business in the capable hands of a trusted employee is a luxury that many believe they do not have.

If this is something you can relate to, it is important to remember that a lot of the admin side of the work can be outsourced to a professional bookkeeping service that can keep on top of the financial and accounts side of your business whilst you are away. Do not ignore these types of services, as they are there to help in situations such as these.

An Importance Balance

It is important that there is a balance between work and leisure time. If you are tired or worn out you will not be able to perform to the best of your ability and ultimately this could harm the business more than taking the odd holiday throughout the year.

Professional Help

Seeking help and advice from professionals is vital for every small business. If you genuinely believe that you cannot leave the business in the hands of an employee, using an outsourced professional office assistant service is the best answer. These services can take the strain and leave you free to relax and enjoy a well earned break.

Exploring the bookkeeping services out there that are designed to help small business in a similar position is vital to the long term success of your company.