Archive for

Basics on Online Business

It time for the search of real online business! Many people claim that its easy to make money online if you follow the so called proven system. There are actually no statistics of any proven system that we could decide on. It is almost a chain of reactions that takes place and it circulates within the Internet world from people to people.

But, believe that making money online is though not easy, but a possible one. When we plan to start a business on online with or without investment, we definitely start from somewhere. There are no automated systems that could generate $$$$ with out having to spend time or energy.

We don’t have to spend for any marketing in the Internet, but spending money sometimes may increase our income.If we feel that we are not going to spend for this, then we are planning for a long term target and we will have to rely only on our hard work and unlimited time.

There will be several failures and disappointment doing business online. We may feel that nothing is reliable, the process is too complicated, each one is linked with another so it goes on and on, never ending!! But remember that if a person tells that he is making profit means that he is making profit. We read his column somewhere in the web that itself is a profit of success to him. Hence always remember that success is following us when we fail.

Marketing is the ultimate aim of Internet business. What ever business we do, we should have customers, clients, readers, commentators etc, We need people to visit our business, express their opinion, add suggestions on further improvement etc. So, attracting people is the main task of marketing.We may have to adapt several methods and techniques by trial and error method as all standard marketing practise may not yield the same positive results each time.

There are some advantages as well as disadvantages of starting online business. First let us see the advantages.Opportunities are everywhere in the Internet world. Since the reach of the Internet is far beyond our imagination, this can bring audience from anywhere in the world. The Internet network and the viewers are ever growing so there are no bound for the business limitations. We can work on our own time, flexible working hours and at leisure. We can spend more time on other activities as the Internet business once established would give you lot of free time. Any online training, research or studies is much cheaper compared to the conventional ones, most of the references are available free of cost. It is indeed thrilling to surf and work online as we will be stunned to see the scope for so many businesses on line. We can start business with very low capital and also chances of multiple stream of income at the same time.

The disadvantages are initially we will have to spend too much time to know, understand and establish what we really want to do. There are lots of research work needed. Internet philosophy is far beyond our understanding the reason that what is hot topic today may not even be talked tomorrow. So we should always be ready to accept and adapt to regular changes. Too many HYPE in the Internet marketing may mislead us in selecting our business and going right way. Selecting Internet business would not yield overnight profit as we dream of. Be practical and accept the fact that our web page one in billion and chances of people visiting and business is also in the same probability. There are more chances of jumping from one opportunity to another and that will definitely not help us to grow in the Internet business.

Well, there is a question how much we can earn a day in Internet business? It all depends on our adaptability, skills, ability to learn, hard work and intelligence. It may take a lot of time initially to start earning through Internet business, there will be a quite lot of testing times before we enter into the right one. All depends on how we sell ourselves in the world of Internet business. Marketing, as i mentioned earlier, is a vital aspect of the business, We should select the right ways of marketing. There are some faster ways of marketing also, but that may not always suit our business.

More importantly we as the online business owner need to be aware of spam, the practise of sending unsolicited, untargeted mass commercial messages. There are some serious consequences of spamming, including suspension or termination by our web host, affiliate programs etc. as spamming is a very poor business practise.There are plenty of legitimate ways available to market our business instead of spamming

Should we spend invest money for starting online business? We may or may not spend and that depends totally on how we want to go about marketing our business. There are quite a lot of ways to start and continue online business free of cost. The main part of expenditure is for marketing. If we start the online business as a writer, then, the cost of marketing is less compared to other online business. As a writer we only need to search the right publishing sites that pays for our articles. These are available in the free web directories, we can find through search engines etc.

There are some paid membership sites also that saves lot of our time rather than going to the web directories to search for. What we can earn by writing articles again depends on the selection of topic, method of writing, how quick we are and how relevant the subject is.

There are several other online businesses that need to bring in the traffic to our website in order to generate revenue. Many sites claim that they can get us loads of traffic, but always prefer to get the targeted traffic that would benefit out site and our business.

How to Sell Your Small Business – Simple Ways to Increase the Value of Your Small Business

When it comes time to selling your small business and your plans are set, of course you are hoping the business sells quickly. Do you know your financial records can be the determining factor to your small business selling success?

Maintaining good financial records can help sell your small business faster and even increase the value. Accurate financials help in maximizing the selling potential of your business. Here are some useful tips to help you maintain your records and sell your business as fast as possible:

1. Selling your small business – Maintain accurate financial records

Maintaining accurate financial statements will help you to streamline your business in more than just financial ways. When you keep a track of your daily figures it becomes easy for you to spot the items that may need attention. Managing by numbers is an important aspect for growing a small business and to be familiar with the various items that the business can have, will of course provide valuable insight into areas that can be improved, increasing the profitability and value of your business

2. You can sell your business fast – Maintain presentable financial records

Maintaining a good, clear set of financial records also helps a business owner when dealing with the external accountants and tax consultants that a small business needs to work with at the end of the financial year, for filing their income tax returns and in preparing their business for sale

At the very least you need to keep a track of your:

• Expenses
• Income
• Debtors
• Creditors
• and the Cash Flow generated by your business

Be prepared to show potential buyers your financial records without hesitation when it comes time to sell your small business

You can maintain a daily statement in which you can track all your expenses and income for that particular day and then reference these to the actual receipts. Tracking of income and expenses is the starting point for recording your cash flow and credit transactions. If you have incurred any expenses, then there can be either a cash outflow or a loan transaction. This can be recorded in either your cash flow or credit book. Similarly all incomes would need to be recorded either as cash inflows or debtors.

You can keep the books mentioned above by maintaining a file for the following transactions and keeping separate records for each:

1. Small Business Check/cheque register: The register would show you the checks that you have disbursed along with the recipient, amount and the purpose.
2. Small Business Sales Journal: This will help you keep track of your cash and credit sales.
3. Small Business Voucher Register: This will help you keep track of how much money you owe various people and businesses, what date the payment is due and what was the purpose of each transaction.

Sell your small business successfully with consistently updated financial records

The key is to maintain your books regularly and update them on a daily or weekly basis so that you are up to date and aware of what is happening within your business.

Maximum leverage can be achieved if you build some smarts into it. This is easier than you think. For example, when you record your debtors you may build a check for calculating how quickly each debtor converts into cash and this will help you in identifying the good debtors from the bad ones and limiting exposure to debtors who take longer to pay thereby reducing the risk of potential bad debts.

Similarly you can calculate the daily cash flow that is generated by the business and project into the future using the current data. This would help you in estimating the accurate financial needs of your business and plan accordingly for the near future.

Keeping a record of your financial transactions and maintaining all your records will ensure a smooth financial reporting and tax filing process and at the same time gives you key pointers in managing your business and of course will help you to maximize the selling potential when it comes to sell your small business.

Wants and Needs of Your Business

What do you want for your business? What does your business need? What are you doing to ensure these things are in your business? I ask these questions because I know how important having what you need and what you want really is in business. If we don’t have what we want, we are disappointed and unfulfilled. When we don’t have what we need, we see more serious problems like sales downturns, customer loss or poor employee morale.

You can make or break your business by doing what you need or not. On the most basic level, your business needs things like customers, revenue and profit. These are the big ones. If you don’t have them, your business can’t survive. But what we want is very important, especially when we want what we need.
Do you want what your business needs? I know that this question sounds rather silly, but if you think about it for a minute, you’ll see the significance. First think about what you need (make a list…ok, just the top 5 things your business needs) and then think about how much time and effort you devote to these things.

Does your business need what you want? Now make a list of the top 5 things you want for your business. You may have these things already. You may be doing them on a regular basis. That’s ok. In fact, it’s a very good thing if you already have what you want. But the first question is: Does your business need it? The next question: How do these lists match up? How do your wants and needs of your business compare?

I asked these questions because I’ve been thinking a lot about priorities. Most of my Corporate Wellness clients have a challenge on their hands. Their challenge is something that you are likely experiencing as well. The main challenge is not time or money. The main challenge is aligning the wants and needs of their businesses.

When we put our needs first, we succeed. It works in all areas. Here are some examples of how needs become the end-all when it comes to success or failure:

Customer Base: “We need customers”- by investing time and energy into drawing customers to your business, sales and profit can be made. If your business doesn’t put in the effort to get customers, you won’t be in business very long.

Employee Health: “I need my employees to be healthy”- by devoting time to care for themselves they are allowing their bodies and minds to function at full capacity. If they don’t devote any time or put in any effort for their health, they will not have it for very long. If that is the case, your workforce and therefore your business will suffer.

Let’s go back to the above statement: “I need my employees to be healthy” to get more clarity around it. This is a broad and general statement, but by making it more specific we can see how this works (or doesn’t work) in real life:

Your employees are making the following statements:
“I need to exercise in order to…”
…avoid heart problems
…have enough energy to play with my kids in the evening
…feel good during my day
…get in shape for my high school reunion

They are also saying:
“I need to eat healthy in order to…”
…the list goes on

No matter what their needs are, they fit within a statement like this. These statements are being uttered all over the world as we speak. In various languages people are telling themselves what they need. They are thinking about what they need and what they need to do in order to get it.

These are your employees. The problems that arise from them not meeting these needs have an impact on your business. They turn into higher health care costs, lower productivity levels and increased absenteeism. (to name a few) The needs they have clearly affect your business and that is why they become the needs of your business.

Since this is happening everywhere, people must be successful, right? Their companies must be helping them meet these needs. If every company knows what their employees need, they are achieving their goals, aren’t they? Well, they might be. Unfortunately, many are not. Many businesses are not doing what they need despite the fact that they need it.

Why does this happen? It happens because we don’t always want what we need. We need to have a workforce in place to conduct business. We know that in order to get the most out of that workforce, they need to be healthy. They need to do certain things to reach those goals. As a company, we need to do certain things in order to support this process. (Setting goals is one of them in itself.) The problem is, we don’t want to do those things.

It’s easy to say that you want something. It is another thing to actually do what it takes to get it. If you don’t want to do something, you won’t do it. It’s that simple. The fact is, no matter how much you know your business needs something, you won’t adjust the way you operate to get it if you don’t really want it.

So, what do you do? How does your business get what it needs? Well, for starters, you have to want it. The next step is something I’ve spend years working on and helping my clients do. It is something that
I’ve written countless articles about.

The next step has been called many things: goal setting, planning, routine, programming, systems, etc. If you really want something you need to be willing to take this step. No matter what area you are talking about, the same rules apply. Doing these things is the difference between success and failure for your business. Doing these things is the difference between getting what you want or not. More importantly, these things are the difference between getting what your business needs or not.

Everyone wants to spend less on healthcare costs, but it takes more than that to make it happen?

Question: Do you need a healthy workforce?
Better question: Do you want a healthy workforce?
Best question: Are you willing to do what it takes for a healthy workforce?