Posts Tagged ‘Small’

Small Business And The Network Marketing Model: Why Now Is The Time To Build A Home-Based Business

Monday, March 8th, 2010

Now is a great time to start a home based business!  I know, I know!  The economy is in the toilet, banks are failing, people are losing their jobs – how can now be a great time to get started building a small business?

Regardless of what you might think, I am not crazy!  Yes, things are hard right now, but the opportunity is wide open for a savvy entrepreneur to make great things happen.  Consumers are still spending money, even in the midst of a recession.  They are just more selective of what they purchase and from whom.  Why shouldn’t they purchase from you?

Of all the business models available to market your product or services, the network marketing system is the most viable.  Network marketing has, over the years, been given a bad name, but it is making a strong comeback with solid companies featuring quality products and services, exemplary owners with incredible talent and wisdom, and excellent compensation plans.  With consumers now making many of their purchases online, the network marketer has many different ways available to market.

One of the beautiful things about network marketing is residual income. Residual income is income that continues to build long after you have done the work.  When you work a 9-5 job, or own a traditional business that has to be open 8 to 10 hours a day to make money, if you don’t show up for work or open your doors for business, you don’t earn an income.  As a network marketer builds a business, she will earn directly from selling her product or service, but then will continue to earn commissions based on that past sale.  So if she decides to take the day or week off from working her established business, her business will continue to produce income for her.

Here is what Robert Kiyosaki, the author of Rich Dad, Poor Dad, has to say about network marketing in his book, The Business School…

            “If I had to do it all over again, rather than build an old-style type business, I would have started building a network marketing business.”

            “The richest people in the world build networks.  Everyone else is trained to look for work.”

            “Network marketing gives millions of people throughout the world the opportunity to take control of their lives and their financial future.”

Donald Trump also has plenty to say about network marketing…

            “Network marketing has proven itself to be a viable and rewarding source of income, and the challenges could be just right for you.  There have been some remarkable examples of success, and those successes have been earned through diligence, enthusiasm and the right product combined with timing.” 

Another advantage of building a network marketing business is that the company you decide to represent will teach you the business skills necessary to be successful.  You can learn while you build your business!  You will work with a team that will guide and direct you, and give you the time to make the mental, emotional and physical changes required to be successful in business.  Also, it generally doesn’t cost an arm and a leg to get started.  A traditional business can cost tens of thousands of dollars to get started, and you are on your own.  With anywhere from $100 to $500, you can start a new home-based business and get it moving toward success.

Now, I never said it would be easy to do this, but if you are willing to work hard, be teachable, and step out of your comfort zone, you will never have to fear the economy, the possibility of losing your “secure” job, or losing your retirement and investments again.  Wall Street won’t have as great an impact on this type of business as it does on traditional business or jobs.  Network marketing as your small business may be just what you need to build your future.

Wendy Johnston of Freedom Marketing Group LLC specializes in educating people about natural health and wellness. She believes everyone can achieve the freedom they hope for with the right mentor and program. http://PurelyCleanSkin.com

Small Business Startup Loans – How Does One Acquire Finance For His Or Her Business?

Friday, March 5th, 2010

It is inevitable that every business owner will need finance to properly run his business. The question that is always at the mind of every business owner is how will finances be pumped into the business to make it profitable? This is true for every business owner, be it on a large or small scale or on an international or local scale. There will be so many responses to the above question. The responses will depend on the person providing answers to the question as well as it may also depend on the particular period in business at which such as question is being tendered. Despite the varying responses that may be put, all these ideas about getting a business being financed will turn to a single direction. The following lines are meant for those coming into businesses, who want to identify the various options of financing their business and who will want to determine which of these options is the most appropriate for their businesses.

Individual Finances

There are so many business owners who will individually and single-handedly provide the money that is needed by their businesses. The sources of such type of capital may spring from their personal savings and other forms of capital which solely belong to them. However, these sources of finances are really workable if the business owner has substantially built up a good amount of money. If the capital is in the form of assets, it will be easy to dispose these to get some cash for the running of the business. If you intend to make use of capital through the credit card as a means of financing your business, you must take some reasonable precautions. You must be aware that this source of capital is usually best for interim financial provisions.

Angel Financing

This is yet another good way to oil the machinery of your business. When we make reference to this type of financing, we are referring to that type of financing that is often provided to new businesses. This is commonly found in the United States and most upcoming markets. In this type of financing, a group of affiliates belonging to the informal risk sector combine their resources to finance a business. What is usually done is that a business suggestion is proposed to a business owner and if the business owner finds the suggestion interesting, he will be given the option to get the business financed by the group of financiers. This group will also have the option to ether finance the business and take part in running its daily affairs or to stay aloof from the day to day running of the business.

Venture Capital

This is another way of making finances available to a business. In such a case, the business owner will approach a proficient financier and this must be a financier will is willing and capable to venture his or her money into businesses that are not only at the inception, but equally to businesses that have future prospects of expansion. Another form of financing related to this is the corporate venture capital. This is an idea often used by corporations to endow capital in some relatively young but vibrant businesses that may have some relation with these big corporations.

Credit from Banks

This is a source of finance that is commonly sought for. In most cases, either secured or unsecured loans may be provided to business owners. However, lending institutions will warrant that you provide some form of credit worthiness which will have to be carefully scrutinized ahead of making a decision if the loan will be given or not. It is sometimes easier for an unsecured loan to be given to experienced or well established businesses than new ones. But a secured loan will be provided for all types of businesses.

If You Want To Get The Financing You Are Seeking For:

Make sure you find out what the financing is all about, opt for a proficient group, set an objective, make sure your business is properly registered, investigate what type of financing will be suitable for your business and make sure that you have established the necessary connections.

Discover all your business financing options as well as help in mitigating your business financing problems from the experts at http://www.365capital.com, the permier financing portal for all your small business startup loan needs.

Computer Business Opportunity In The B2B Small Business Space

Thursday, March 4th, 2010

If you are a small business computer consulting company owner who has been delivering services to customers in the B2C (Business-to-Consumer) space, you may be looking for another computer business opportunity to help you grow your profits and your client base.

Many small business computer consultants find great opportunities in the B2B (Business-to-Business) space, and specifically within Sweet Spot Clients(tm). Sweet Spot Clients are defined as small businesses with anywhere from 10 to 75 computers. This computer business opportunity can help consultants find steady, long-term clients that are willing and able to pay for ongoing services.

The following 3 tips introduce you to the B2B small business space and help you seize your best computer business opportunity to help build your company.

1. Don’t Focus on Micro- and Home-Based Small Businesses. Many consultants moving from home users into the small business space make the mistake of thinking that they can just run out and get some small business clients. They don’t stop to think about where the true computer business opportunity is, and that it’s not in very small clients. If you focus on home-based businesses and micro small businesses, you will run into many of the same problems as in the home users market. You will not be able to retain long-term clients or sell a lot of services, even when focusing on micro small businesses that are technically considered small businesses.  Why? Because it’s very difficult in most cases to sell ongoing services agreements and profitably service those companies with fewer than 10 computers.

2. Know the Main Reasons Micro and Home-Based Small Business Clients Are Not Profitable. As you are looking for the best computer business opportunity, you need to know exactly why working with micro- and home-based small businesses is not profitable. First of all, you will find a lot of consumer-grade PC’s and pirated software. Also, you will find that micro- and home-based small businesses will be reluctant to pay for services, because they are used to getting computer support for free from a friend, family member or other types of volunteers. And how can you possibly compete with free? Because IT is usually not as important to very small businesses, micro small businesses will also not usually need great response time and won’t be willing to pay for it. Most importantly, very small businesses will be too small to afford a real dedicated server or a real network, leaving you very little computer business opportunity to build complex solutions and grow long-term relationships.

3. Focus on Sweet Spot Clients. Again, Sweet Spot Clients are defined as small businesses with anywhere from 10 to 75 computers. At this stage, you will find prospects, customers, and clients willing to get serious about putting in a real client/server network, a reliable back-up solution, a dependable UPS, and a truly secure firewall. Small business decision makers in this space understand that the systems need to be designed by a very sophisticated IT services or network integrator firm, which is where your computer business opportunity will be strongest. As a small business starts growing, the stakes go up. These owners recognize the need to use IT more strategically. Among Sweet Spot Clients, small businesses have made the decision that IT is important to the company and that they can’t afford a lot of downtime. They need someone to coordinate everything related to computers and take ownership of the whole problem for many years into the future.

In this short article, we discussed 3 tips that can help you find the best computer business opportunity for you as you start looking into the small business market. Learn more about how you can get great, steady, high-paying clients and your own best computer business opportunity now at http://www.ComputerBusinessOpportunityNow.com  

Copyright (C), ComputerBusinessOpportunityNow.com, All Rights Reserved

Joshua Feinberg is the author and editorial director of the Computer Consulting Kit Home Study Course, which helps computer consultants, VARs, integrators, solution providers, and managed services providers get more of the best, steady, high-paying small business (SMB) clients.

Small Business Loan Alternative For Tourist Hot Spots

Wednesday, March 3rd, 2010

Small, retail and/or service-oriented businesses located in tourist towns are amongst the types of small businesses that are being negatively affected by the recession.  These small businesses may not be considered seasonal, but their sales often increase during high-vacation seasons.

According to Maggie Daniels, an associate professor of tourism and events management at George Mason University, larger tourist cities such as New York and Washington DC are able to hold their own during an economic crisis, as stated in an article titled “Tourist Towns are Struggling.” But what if you own a small, retail or service-oriented business in smaller tourist town such as Blanco, Texas or the Chama area of New Mexico?  What is to come of your small business?  Many of these small business owners not only have to deal with decreasing sales on normal days as a result of the economy, but as the economy worsens, fewer people can afford to take vacations, turning those months when profits typically surge, into months of average sales.

In a situation like this, a small business loan alternative is key, and these small business owners can get a small business loan alternative through a business cash advance, a method of business financing that allows small business owners to sell their future credit card receivables to receive cash upfront for their businesses.

Business Cash Advance Requirements

Must have owned business for at least 6 months Business must process at least $5,000 in monthly credit card sales Must have at least one year remaining on the business’s lease

Business Cash Advance Repayments

A small percentage of daily credit card sales will go toward business cash advance repayment Repayment usually takes six to eight months Daily repayment amounts fluctuate according to the business’s credit card sales

Some sources say that even now, some small businesses located in tourist towns are expanding.  Whether you plan to expand, or you need a couple of dollars to stay afloat, a business cash advance may be able to provide the funds that you need for your tourist town business.

Chrystal King writes articles about small business loans alternatives, for Merchant Resources International. Visit http://www.smartsmallbusinessloans.com to complete an online application.

Why Every Small Business Needs A Web Site, And Why Most Small Businesses Don’T Have One.

Monday, March 1st, 2010

Saving approximately 60% on lead generation and boosting leads by 235% has driven Century 21 to make the switch from television advertising to internet advertising. With statistics like this it is clear that in order to stay in the game most businesses need to get on the internet bandwagon or be left behind by the competition. The days of mom and pop neighborhood businesses staying competitive by virtue of customer loyalty are giving way to customers who demand e-mail and internet access. Today’s consumers search online first, find their destination and go there and while statistics say that today’s consumer also wants a personal relationship with the establishment’s they do business with it is clear that they start by searching for the business online, they price shop for services and products and then, once they have satisfied their need to research, they begin their business relationship.

There is no doubt that small business owners need to have a web presence to be competitive, to gain new customers and to keep existing business. This is where the small business can afford to excel over the big box companies without spending a fortune in advertising dollars– a personal, homey website, timely e-mail inquiry responses and a nice fast loading user friendly format. Most consumers today send an inquiry, make a phone call and move on within minutes of not getting a response until they do get a response and that first responder is likely who they end up doing business with. The majority of today’s consumers not only have a personal computer, they have web browsing capability right in the palm of their hand – in their cell phone; phone books are becoming functional obsolescence to many.

So why do so many small businesses lack a web presence?

For the web “newbie” developing a website seems as cumbersome as a corn maze, fraught with decisions of great importance starting with selecting a unique URL the drives business, speaks of the product or service, is easily recognizable, easily findable and creates and association between the provider of service or goods and the consumer. Statisticians say it takes approximately 12 impressions for a name to stick with the consumer, so branding a URL with the business is critical. Many business owners get as far as buying the URL and then get lost in the mire of companies that offer to create a website for a small fee. Many of these inexpensive website solution providers do not actually provide a truly functional site for the fee, but rather have an ala cart menu of services leading to frustration and ultimately to un-maintained websites – most marketing experts agree that an un-maintained website is worse than no website at all. The process of making all the complicated choices seems to create a high failure rate for the newbie web user.

I find frequently that my business clients think they have a url, think they have a site, think they have a competitive internet presence because the service provider they used showed them a screen shot that looked attractive, however, when we search for their site together it is either not truly a functional site or it doesn’t even exist on the web at all, frequently , if it is locatable it is pages behind other like kind businesses because it lacks good content for crawler food and doesn’t rank highly.

When I first decided that I needed a website I hired a local web designer to create a personal and very unique site for my business and after working hand in hand with the designer I developed a unique logo that utilized my url and I was thrilled with the results – until I tried to maintain it and realized that everything was written in code and I had to pay for maintenance. Today I have a site that is based on a template, but personalized, the majority of the pages are manageable by me so I can change things seasonally, daily or hourly as I see fit. I, like most business owners, want to be able to shape my personal marketing plan for my business based upon our changing economic climate, and newer marketing trends such blogging and instant messaging or live chat.

In the current climate we are striving for business success in and with the ever shrinking reality budget, it is important to get the most out of our marketing dollars, a solid website that allows consumers to find you and want to know you is critical, so dust off your entrepreneurial thinking cap, get back in the Website saddle, and learn to interact with the new consumer online first, before they walk through the door. Remember to give them the true essence of who you are because they do want to do business with a real person or people as soon as they establish that you are who they are looking for.

By Teresa Dietrich
http://www.m6.net/

Teresa Dietrich is a mentor, trainer, consultant, author and entrepreneur, working with M6.Net, who finds communication coupled with a sense of humor and out of the box thinking to be essential life skills.

Do-It-Yourself Small Business Loans

Sunday, February 28th, 2010

There is a tendency for people to think when bad news about the economy strikes the worst thing they could do is attempt to start a small business. This could not be farther from the truth. There is no such thing as a bad time to start a business, provided you go about it the right way. Check the news again. When large corporations are failing and looking for bailouts, small businesses keep on ticking. A small business owner that keeps a tight rein on operations and serves the public with products or services valuable enough to be taken in exchange for money will survive a bumpy ride.

 

Start Looking for a Lender Right Away

 

Any “grey beard” entrepreneur that has made it through the economic swings that seem to part of a natural cycle will tell you not to invest every personal cent you have in your business when starting out. You need to protect your personal assets and savings to take care of yourself and your family while you are building your business income. Nobody will stop you from investing some of your own money, but include acquiring a business loan as part of your start up strategy. There are some steps you will need to take to prepare for applying for a loan, and if you have already been rejected by the bank for a loan you have no choice but to pursuit another avenue.

 

Do your market research and be certain the product/service you are about to put on the market is viable. Survey everything you are planning to do and make the adjustments as necessary. Give the market what it is willing to pay to have. Make a very detailed business plan.

 

Choose the correct corporate structure for you business and register with the state. Get all your paper work in order and establish a proper bookkeeping system right off the bat. Find out exactly what your responsibilities are for paying taxes and retaining employees. Get your Employer Identification Number (EIN).

 

Register with Dun & Bradstreet (D&B) for the purpose of getting a Paydex score. Look for all the ways you can get accounts under your business name and out of your personal name. Set up vendor reporting with D&B. Eventually you will need to get your hands on a list of businesses that extend lines of credit to small business owners and use those to start building your business credit score. You can get as much as $35k through business credit. Get a credit card in your business name and use it wisely.

 

Money Available Regardless of the Economic Times

 

If you were expecting a magic formula to get an instant business loan, this is it. But it will take a little time. Depending on your diligence it could be a few weeks to a few months. No traditional banker or alternative lender will give you a loan with a decent interest rate without you doing these steps. You must build up your credit profile and business credit score first. It is the only way you can get money for your business that is not based on your personal credit and will not put your personal assets at risk. In the meantime you can use your business lines of credit from the list mentioned earlier to help get your business started.

 

 

 

Sincerely,

 

 

 

Ilya Bodner

Small Business Owner

Initial Underwriting Group

Over the course of the last 5 years as an entrepreneur I have successfully launched, managed, and sold off several businesses. Each organization started has added some value to my understanding of the business world today. My philosophy has been that 9 things out of 10 that I try will fail, but that golden one is always worth the battle. In my experience that has proven to be the case and my successful businesses still operate today under the management of those whom I have sold off to. The latest project is Initial Underwriting Group, a corporation comprised of two concepts: 1) business credit building and 2) business loan underwriting.

Grow Your Small Business With A Small Business Consultant

Monday, February 22nd, 2010

If you are looking to boost profits, then hiring a small business consultant is a great move. Business consultants can provide advice on virtually any business, especially if you choose wisely. When you start a small business, there may be a flurry of growth at the start as you see your ideas take shape. But after that, many businesses find that they are starting to stagnate. Sometimes this is because the business owner knows the product, but lacks all the business skills needed to progress. That’s where a small business consultant can help. Your consultant will be well versed in business skills and will have a wealth of experience from years of working with small businesses in a variety of fields. This experience can help you to move from small business stagnation to domination of your niche.

What To Expect From Your Consultant

The starting point for this type of consultancy service is to assess where your business is now. That means undertaking a full business review to see how you operate and what opportunities there are for development. At this point your consultant will make recommendations for action, but he won’t leave it there. He will also put his knowledge and expertise to work to help you follow through on those recommendations. Many small business consultants work on a ‘no win, no fee’ basis, so you won’t have to pay for the service if you see no business improvement.

Some of the areas you can get help with include carrying out a competitive analysis to see what others in your niche are doing. There may be actions you can take to replace the current number one at the top of your niche. Not only will your small business consultant help you to work out what those actions are, but the consultant will also help you by using his or her connections to put you in touch with the right people to make the move. Networking is a key part of business growth, so your chosen consultant should be well connected for best results.

Networking will also help with another key area – sales. Many business owners can improve their conversion rates for enquiries and leads with a few simple actions. A business consultant can help you to improve marketing materials and communication methods to really make profitability skyrocket. These are only a few examples of what a small business consultant can do. Your consultant will provide a plan tailored to your business – just watch it grow!

Chris Jenkinson is a business consultant with creative marketing low cost ideas and who guarantees to grow your sales and profits. Jenkinson & Associates Ltd gives business help to new, small and medium sized businesses in how to increase sales and profits.

Computer Business Name Ideas For Small Business Virtual Cio’S

Wednesday, February 17th, 2010

Are you trying to come up with a strong computer business name? If you are having trouble landing on that perfect way to brand yourself, think about one of the most critical concepts of running a successful computer business… your role as a Virtual CIO for your clients.

When you build your entire business around being a Virtual CIO for local companies, you get the advantage of working on end-to-end solutions that need to be maintained and expanded on over time. And when your company name reflects this concept, you help build a brand for yourself that attracts steady, high-paying clients that recognize the importance of computers to running successful businesses and will need you for many years to come.

The following 4 tips will help you understand your role as a Virtual CIO, so you can decide on an effective computer business name that reflects your unique expertise and attracts the best small business clients.

Know What CIO Means. If you are going to choose a computer business name based on the idea of the CIO, you of course will have to understand what this concept means. In a medium-sized or enterprise-sized company, you will almost always find a CIO or chief information officer on payroll. Although this person is not generally as important as a CEO, a CIO is still a trusted business manager, trusted for his/her extensive expertise in technology. Because you are working with small business clients that have a lot of IT challenges but are too small to have a full-time CIO on payroll in most cases, you become a Virtual CIO for your clients. You may wish to reflect this concept in your computer business name, so you immediately communicate the problem you solve for your clients. A Virtual CIO-Related Computer Business Name Helps Position Your Firm in the Marketplace. You can’t make the Virtual CIO concept an afterthought when you are coming up with your full brand, including your name, logo and business plan. Why? Because how you position you and your company makes an enormous difference on the hourly billing rates you can command with your clients. A strong name based on your mission to provide end-to-end business solutions should convey that you are an expert and the only rational choice for your target small business prospects. Be Prepared to Deliver the Goods as Virtual CIO. If your company had complicated financial needs that included expanding payroll, looming strategic acquisitions or expanding to a different business model, would you feel more comfortable getting advice from a freelance bookkeeper, a freelance accountant, a freelance CPA, or a freelance Virtual CFO? Of course, you would want someone that is an expert in more than just one area of finances and could give you the total package. The same thing applies with your small business clients and the whole Virtual CIO concept, which is why you need to build your computer business name around it. A small business that has a need for things like a high-end database management application, a mission-critical point of sale network, a highly-visible e-commerce site, regulatory IT requirements, and a need to integrate the systems of a recently acquired competitor needs you to be that end-to-end, one-stop solution. Being the Virtual CIO Self-Selects the Best Small Business Clients. When you brand yourself as a Virtual CIO, you help create a decisive strategy for targeting and qualifying small business prospects. A name based on the Virtual CIO concept helps you show you want to be involved with your clients at high strategic levels. It also pretty much guarantees that you will work on projects with very measurable business results and ROI and command the highest hourly billing rates in your area for your services. When your name reflects the idea of truly sophisticated technology solutions, you help build a client roster primarily with those small businesses that need to retain your high-end, premium Virtual CIO services, vs. plain, ordinary break-fix repair and systems integration with no long-term potential.

In this brief article we discussed 4 tips to help you understand why you need to choose a computer business name that supports the whole Virtual CIO concept. Learn more about how you can attract great, steady, high-paying clients with an effective, highly-compelling computer business name now at http://www.GreatComputerBusinessNames.com

Copyright (C), GreatComputerBusinessNames.com, All Rights Reserved

Joshua Feinberg is the author and editorial director of the Computer Consulting Kit Home Study Course, which helps computer consultants, VARs, integrators, solution providers, and managed services providers get more of the best, steady, high-paying small business (SMB) clients.

Advice for Small Businesses Seeking to Succeed On Line

Tuesday, February 16th, 2010

There is no shortage of hype on the Internet. A start up business does not have to look far to find a “Guru” who will offer a miracle solution for the “getting found” dilemma that faces every on line business. Typically, this product or weekend seminar (where many more products can be expected to be pitched) virtually guarantees overnight success. This information is usually at a significant price premium over the same information found in an existing book.

Okay, let’s get a reality check here. Let’s remove the on line component of this scenario and see how this advice applies in the offline world.

Let’s say you are looking to start a business and you hear that you can accomplish all your goals and be an overnight success by attending a pricey weekend seminar (or if your budget is small, you can still learn it all and succeed with the few hundred dollar CD version instead). Does this make any sense? While continuous learning is vital to growing your business, most off line business owners recognize that actions rather than miracle seminars will lead to success. They surely aren’t apt to spend over and over again every time a new variation of this sure fire technique is launched. Offline businesses owners know that there are better ways to spend money to develop their businesses. They realize that a business is built in stages and while they most likely are dreaming about the success that they will someday achieve, they certainly do not believe it will happen as soon as they hang up a shingle. They wisely do not believe success happens by following a magic formula.

Why then do so many individuals, wanting to start an online business, attend seminar after seminar and shell out thousands and thousands of dollars on silver bullets that lose their shine right after the conference is over? The logic of the offline business owner would dictate that there are better ways to spend in order to build a business. It seems that the illogical behaviors of these online wannabies are just fueling the internet marketing guru industry and leaving many would be entrepreneurs disillusioned and broke.

What is going on here? If you attend any of these conferences, you know it is quite common for the guru to be quite transparent. Small business entrepreneurs, eager for success, are taught that it is important to create a sense of urgency when pitching to their target markets. The guru then proceeds (in almost the next breath) to tell the conference attendees that if they act now (strangely only 17 available!) they will get special conference pricing on the guru’s product. It is amazing to see how many people jump up and run to make a purchase in the back of the room (right after the lesson about creating urgency).

Now, this is not to say that there are no valuable marketing lessons to be learned at these events. On the contrary, the very words the gurus use to stir up the crowds are extraordinary lessons in themselves. Additionally, most all of the gurus actually teach interesting ideas and provide useful information (one of the principles the gurus always teach is this: Your target market will love you if you give lots of great content away for free – which the gurus are actually demonstrating). The gurus usually laugh and joke with their audiences about how shamelessly obvious they are in promoting their products; but it does not stop the jumping up and running to the back of the room (to buy before the supply runs out).

Hype that is seamlessly woven in with the truth becomes irresistible to these crowds. No doubt about it. The very marketing techniques that are being taught are being used masterfully to get the audience to act. A huge carrot of success is being dangled in front of these spectators (extraordinary wealth is one of the common traits of the gurus) who want to be just like their mentors. I know how powerful and magnetic these events can be. Even when I finally decided to be an objective observer, the hype was hard to resist. I kid you not.

Is that it then? The secret to wealth is the masterful delivery of hype?

Hold on. There is another lesson the gurus teach. It too is true. They state that you must know your target audience. You must give them what they want …when they want it. Sales are rarely made to someone who is not at the right point in the selling cycle.

So what does this mean? Are conference attendees guru wannabies instead of real business start up people? Out of touch dreamers who are more interested in keeping the dream alive instead of taking actions that may risk failure? Ouch, that seems a bit harsh. How else do you explain thousands of dollars spent that most often never develop into anything further?

There is another explanation. The world of internet marketing is so new. The Internet has only been around for 10 years and is growing at an incredible rate. The offline rules do not seem to apply to the online world. The techniques needed to operate online as a business (rather than as a user) are quite foreign to most people. From this point of view it is quite easy to see why people look for guidance from those who have had success online.

Yes, the Internet is constantly changing and so are the things that businesses will need to do to succeed on line. A lot of that has to do with Google’s major mission in life; to provide user experiences that have quality and relevance. There is always something new on the Internet and small businesses will need to pay attention to the sound business practices of their successful off line business cousins. They can start by eliminating hype and then by treating their on line endeavors as serious businesses which requires long term strategies in addition to short term ones. On line business owners will need to take action instead of looking to some miracle out of the box solution to get a competitive advantage. Those who are still interested in the shortest path should consider spending their guru product dollars on the services of experts who can get it done for them. Not only is this the shortest path, it sounds like the most cost effective small business start up advice for success as well.

Lori Olson has a passion for helping small businesses develop strong online presences with a team of 250 professionals who analyze & implement SEO, SEM, PPC Campaign Mgmt, Social Media,Copy Writing & Web Development strategies which are customized to fit any needs, wants & budget. Update Small Business also provides leading edge employee & sales assessment & training; & CRM solutions.Small Business Consulting or call 877.265.6568.

Top Small Business Deductions – Keep More Cash!

Saturday, February 13th, 2010

Generally, you’ll find there are two types of tax laws; laws for business owners and laws for people who do not own a business (employees or W2 earners). There are tax deductions that W2 earners get. But did you know that business owners have the benefit of getting both the W2 deductions PLUS an entire slew of business deductions? It’s no wonder so many people are opting to start small businesses; especially home based. Even running a small home based business part time will open the door to your keeping more cash. A home office tax deduction is like having a money tree that just keeps on growing. First, you need to make sure you qualify for a home business deduction. You’re entitled to a home office deduction if your dwelling unit (home, apartment, etc.) is used exclusively on a regular basis as “one” of the following:

Part of a daycare business A separate structure not attached to your dwelling unit Your primary place of business A place of business where you meet with customers or patients regularly

The following are small business deductions for a home business:

Home Office Deduction You can deduct the percentage of your home that is used for your business. For example, if you have a home business office that occupies 20% of the total area of your home, you can deduct housing expenses for mortgage interest, property taxes, utilities, repairs, garbage and homeowners insurance. For example, Jack runs an ecommerce home based business occupying 20% of his entire home. If Jack racks up $12,000 in housing expenses, he would be able to deduct (20% * $12,000) = $2,400 off of his total income. Small Business Deductions – Vehicles You have the choice of using one of two methods for small business deductions on your vehicle. You can use the actual expenses or mileage rate methods. Using the actual method, you can deduct all of your business related car expenses. This includes deductions for gas, repairs, maintenance, wash, insurance, depreciation, taxes, interest and other miscellaneous car related expenses. Under the mileage method, also called the IRS method, the IRS allows you to deduct 55 cents per mile driven for business purposes for 2009. So, the method you’ll want to pick will be the one where you’ll get the most small business deductions for the business use of your vehicle. Deducting Business Entertainment You are able to deduct 50% of your business entertainment cost. The IRS requires you to thoroughly document when it comes to small business deductions for fun/entertainment. First, IRS requires you to keep receipts for all business entertainment expenses over $75. The IRS also requires that you must conduct your business meal in an atmosphere conducive to doing business, such as a restaurant. If you took a prospect out to a movie theater to eat and discuss business, that wouldn’t fly with the IRS. A third requirement of the tax law, business must be discussed before, during or after the meal in order to deduct the meal. Finally, the IRS says you must specifically document the business meal event. You’ll find using a diary or tax organizer will become one of your best friends along with your vehicle mileage log book. Hire Your Child You’re really going to want to take advantage of this deduction. Hire your minor child as an employee of your business. Per the IRS the child must be under 18 and although it’s not clearly written into the tax code, the IRS frowns on hiring children below age 7. So, you’ll want to keep the age range between 7 and 17. There are definitely benefits to hiring your minor child. First, in 2008, the first $5,450 of wages your child earns is “tax free” because your child will receive a standard deduction of $5,450 on their individual tax return. On top of this, you would personally still get your standard child tax deduction when you file your return. Also, kids under 18 are exempt from social security and unemployment taxes “if” your small business is set up as a sole proprietor or LLC. To illustrate, you hire your 10 year old child to clean your office and do some filing. For the year, you pay your child $5,450. You can deduct the $5,450 on your Schedule C and you don’t have to pay social security or unemployment taxes. It gets better – your child will fill out his/her own 1040 and deduct the $5,450. Then, your kid can put that money into a ROTH IRA which would build up tax free to be used for education, living expenses, or what have you.

Other Small Business Deductions

Tax preparation and accounting fees Legal Costs Internet, phone, postage PO Box costs Education costs Business bank fees Office Supplies, rent, equipment Start-up costs Marketing costs Subscriptions Travel

Tim is the editor of http://frugal-save-wave.com where you’ll get the answers you need to live better on less through wise family money management. These money saving strategies include tips on frugal living, budgeting money, eliminating debt and more.

Tim doesn’t just write about these strategies, he lives them. Tim also has an MBA in finance as well as over 20 years of professional experience in personal finance.

For additional information to assist you with small business tax deductions, see http://www.frugal-save-wave.com/small-business-deductions.html.