Casual Articles - Business

Why Investors Reject Business Plans
Investors typically are only willing to spend about five minutes to determine whether or not they should look more deeply at a project and spend time and resources on it. Consequently, over the years they have developed a reliance on a series of clues to help them make that determination. These clues are based upon how the business plan is presented, formatted, and prepared … visual clues that they can see before they actually read the document.Initial ImpressionsLet's suppose that you send your business plan along with a cover letter that asks the potential investor to return the business plan in the prepaid envelope should he or she not be interested in the project. This assumes the investor is going to read the plan and make a determination. This assumption is wrong!Instead, what you have told the investor is that you are financially strapped and are desperate for money. This relegates your project to the lowest level of where entrepreneurs are unlikely to be able to make the project work, and they quickly lose interest. Typically, they will not send the plan back, even if you provide the return envelope with postage affixed. They simply toss the business plan in the trash without ever opening it, let alone reading it.At the opposite extreme, investors often receive business plans that are expensively bound, sometimes even in leather. This indicates to the investor that the entrepreneur is wasteful and would therefore waste the investor’s money. Ag

l your product to your potential customer – your qualified lead. Selling involves calling and talking to people to find out if your product is a right fit. A word about selling - selling is not trying to make your prospect buy. Selling is explaining your product so that the prospect can decide if your product is right for them. If you're shy about talking to people, overcome your shyness fast. It's amazing how often a sales lead is not pursued because the sales person has a good excuse why they shouldn't follow up on a lead. My personal favorite excuse for not calling on a sales lead is "I sent an email. They'll call me if they are interested in my virtual office service." An email message is a great way to keep in touch with people and send lengthy information. However, it is not a replacement for a live phone conversation. You must get on that phone and make the call if you want to sell. In my sales process, I've established a simple rule for may self – when I get a qualified lead about my virtual office services , I send an email containing details of my product. It’s a great way to communicate the specifications of my product but I don’t consider that email to be an act of selling. It’s just a product brochure. It's not a sa

Six Sigma: Is It Just A Fad?
Fads have inevitably entered the business scene, but have vanished into oblivion even before they could make their mark. Some of them, even while having materialistic approaches and huge initial support, could survive no longer than a year. The list may be endless, but the recent ones and those that still linger on include: sensitivity training, quality circles, e-business, self-managed teams and a host of others. But is there a relevance of this debate regarding Six Sigma? Does it mean that the time for Six Sigma’s exit from the scene is near? Experts and those who are thoroughly trained are not blinking an eye in support of Six Sigma, but there is always another side to the story.This article attempts to provide a pragmatic account of the relevance of Six Sigma to business processes today.Arguments Against Six SigmaEditor Scott M. Paton of Quality Digest, talks about Six Sigma when writing on ISO 9001:2000. He writes in agreement that Six Sigma is a fad, “Six Sigma. The latest management fad has so captivated corporate America that there's little time to devote to lowly standards compliance.” He suggests that it may not live much longer, citing its grandiose and lofty ideals. He alleges that ‘it is not serious enough to get the real work done.’Another detractor, an author and COO at Spectra Logic Corporation in Boulder, Colorado, Scott Dalgeish, is more vocal in his disagreement of Six Sigma. His argument is that Six Sigma is a repackaged quality tool like many tha

Do you start your day at the workplace at full steam? When you get to your workplace do you have a dozen phone calls and emails to reply to? If you do, how many of those correspondences are business related that generate revenue? How many are new sales leads? Are most of your daily correspondences sales related or are they personal in nature? In other words, how much of your time is spent on critical core business activities?

Before I go on, let me tell you about my self and where I'm coming from that I can talk about this subject. I own and operate an executive office suite. My company rents office spaces and private workspaces (desks). We also provide virtual office services to clients ranging from individual professionals to multi-billion dollar companies and everyone in between. I get to talk to a lot of people in a lot of different business. This broad exposure to many businesses let me see how they operate and see what their daily activities are like. From this, I came to realize that every business has the same core activities that are critically important but not everyone pays attention to those activities.

Every business, regardless of the industry and profession, has common core activities that are critical to the success of the business. The core activities are Product Development, Marketing, Sales, Closing, Delivery and Follow up (repeat sales). Whether you are a large corporation, a consulting professional or a sole proprietor selling widgets, you must maintain ongoing effort on all of these activities to ensure your business growth. If you are a startup company, you may be initially focused on product development and marketing. But eventually, you have to sell it.

Product Development

Whether you have widgets to sell or intangible services to sell, if you are selling some thing, you have a product. Successful businesses continuously spend time and energy improving their products. As a business owner and professional, how much time do you spend improving your product? For example, we have several products / services in my executive office suite business. We provide functional office spaces and workspaces and manage everything related to running an office for our clients. This includes making sure that internet connection and telephone services are working properly, maintaining appropriate level of staffing such as receptionists and cleaning crews, making sure that the copier, printer and fax machines are serviced and that we have enough toners and papers for the machines. The list goes on and on. As part of my product development process, I'm always looking for product improvement ideas. I ask my self, what else can I do to make my serviced office space a better place for my customers to conduct their business? I try to continuously improve my product to ensure that my products are up to date. For example, when I realized that many businesses and people need part-time office space with a permanent business address, we started our virtual office service.

Marketing and Advertisement

If you have the best widgets in the world to sell, would you keep it a secret? That is effectively what you are doing if you are not actively engaged in regular marketing activity - you are effectively keeping your product a secret from your potential buyers. If your potential customers don’t know about your product, how would they buy it from you? Marketing is a critical activity for your business. You must get the word out to your potential customers. There are so many creative and cost effective marketing ideas out there. Just search for the term “Marketing Ideas” on Google or Yahoo and you will get a long list of websites and free articles. Taking my Executive Office Suite business as an example, I conduct a daily ritual of marketing activities both online and offline. I advertise to newspapers and online classifieds every day. There are many free classifieds websites on the internet and I try to take advantage of it as much as I possibly can. Why not? It’s free. When I advertise, I try to be as direct as possible so that my readers will know exactly what they are getting when they call. I avoid any vagueness so that when a person responds to my ad, there’s no mistake about what they are responding to.

For example, my ads may read like this: NYC Virtual Office - 212 phone, voicemail, prestigious business address, desk space use, conference room use included. For more information call 212-300-2000 or visit our website http://www.corporatepark.net. There’s no mistaking that the ad is for virtual office space. If the reader calls me, that person is a qualified lead looking for a virtual office space - just the person I wanted to hear from.

Selling your product

If you've done a good job of marketing your product, you should receive a constant stream of sales leads. But the process doesn't stop there. You now have to sell your product to your potential customer – your qualified lead. Selling involves calling and talking to people to find out if your product is a right fit. A word about selling - selling is not trying to make your prospect buy. Selling is explaining your product so that the prospect can decide if your product is right for them. If you're shy about talking to people, overcome your shyness fast. It's amazing how often a sales lead is not pursued because the sales person has a good excuse why they shouldn't follow up on a lead. My personal favorite excuse for not calling on a sales lead is "I sent an email. They'll call me if they are interested in my virtual office service." An email message is a great way to keep in touch with people and send lengthy information. However, it is not a replacement for a live phone conversation. You must get on that phone and make the call if you want to sell. In my sales process, I've established a simple rule for may self – when I get a qualified lead about my virtual office services , I send an email containing details of my product. It’s a great way to communicate the specifications of my product but I don’t consider that email to be an act of selling. It’s just a product brochure. It's not a sal

10 Secrets of Trade Show Selling: #3
When it comes to creating the ideal layout for your exhibit, keep two things in mind. First, you are trying to command the undivided attention of ALL visitors as they walk in front of your booth. Ideally, your goal is to make sure they can SEE you — but NOT notice your neighbors. Second, you want to maximize floor space so that QUALIFIED visitors can actually ENTER your exhibit.In order to accomplish both of these goals, here are a few general rules: 1) Make your booth appear as WIDE and as DEEP as possible. 2) Optimize visibility by taking full advantage of visitor sight lines. 3) Create as much useable floor space as possible. 4) Maximize accessibility from all aisles. For example, a corner booth should be oriented so that the booth faces INTO the INTERSECTION -- NOT into either of the side aisles. The two interior walls should be as high as possible to reduce distractions from your neighbors, create a backdrop for your exhibit and form a "back corner" which increases the impression of depth.The two exterior walls should be open to the aisles, free of drapes and other barriers. Since the "front corner" is undefined by anything other than carpet, the front of the booth appears to extend into the intersection. This configuration takes advantage of diagonals to boost the perception of width and depth — and vastly expands the sense of space by doubling your "lakefront" property.The bottom line of the third lesson in Secrets of Tr

success of the business. The core activities are Product Development, Marketing, Sales, Closing, Delivery and Follow up (repeat sales). Whether you are a large corporation, a consulting professional or a sole proprietor selling widgets, you must maintain ongoing effort on all of these activities to ensure your business growth. If you are a startup company, you may be initially focused on product development and marketing. But eventually, you have to sell it.

Product Development

Marketing and Advertisement

Selling your product

Everything You Ever Wanted To Know About Incorporation
Incorporation is the process of setting up a corporate entity. During this process certain documents are filed with the authorities concerned. These documents provide general information about the entity, which is commonly known as a corporation.More specific information about a corporation is contained in certain other documents, which are often referred to as by-laws. Incorporation is useful for small business owners, as it protects them and other shareholders from certain liabilities. After incorporation of a business, the personal assets of shareholders are safe; business creditors cannot lay claim on their personal assets.But before you decide to incorporate your business, you should be aware that there are certain costs which you will have to bear. These costs vary with circumstances and mainly include attorney's fees, filing fees and certain tax payments.It is not necessary to hire an attorney for this process, but there are many legal documents and formalities which need to be completed. An attorney or a business law firm can expedite the process, as they will take care of all the documentation which is needed. Certain firms also help in organizing the first meeting of the shareholders. If you do not want to pay a substantial amount, then you can prepare all the documents yourself and then get them checked by an attorney.Then one has to bear expenses in the form of administrative and filing fees. The amount of fees depends upon the state in which you are inco

nough toners and papers for the machines. The list goes on and on. As part of my product development process, I'm always looking for product improvement ideas. I ask my self, what else can I do to make my serviced office space a better place for my customers to conduct their business? I try to continuously improve my product to ensure that my products are up to date. For example, when I realized that many businesses and people need part-time office space with a permanent business address, we started our virtual office service.

Marketing and Advertisement

Selling your product

Do Customers Like the Feel of Your Organization?
In two recent articles "Some Evidence of How We Are Spiritually Connected" and "Healing Dysfunctional Families" I reported on how individuals who live or work within a system or group are inherently connected at a level that goes beyond words. This realm of connection, which is largely spiritual or unconscious, may or may not be familiar to the more business minded person so I will take some time to explain the nature of this connection and then the wide reaching implications this idea has on the optimal functioning of organizations.Have you ever walked into a room full of people, say at a party, and had a strange feeling about the "energy" in the room. It perhaps felt a bit draining; perhaps it made you feel sad or gave you a strange feeling of heaviness in your body. Perhaps there was a level of anxiety that you picked up in your body, as if your body was taking a reading on the mood of the room. Well in fact when you feel any or all of these types of feelings you, may be, without knowing it, picking up on the kind of mood or mindset in the room. Clearly such negative feelings are telling you that perhaps this is not a good place for you to be.Now because most individuals are not tuned into their body's messages they often find themselves ignoring or downplaying such messages perhaps only to find out later, at a much higher cost, that they went into something they should have avoided. The negative messages that one's body picks up in such circumstances are key and important mess

ice Suite business as an example, I conduct a daily ritual of marketing activities both online and offline. I advertise to newspapers and online classifieds every day. There are many free classifieds websites on the internet and I try to take advantage of it as much as I possibly can. Why not? It’s free. When I advertise, I try to be as direct as possible so that my readers will know exactly what they are getting when they call. I avoid any vagueness so that when a person responds to my ad, there’s no mistake about what they are responding to.

Selling your product

What Managers Might Not Know About PR
O.K., you manage something like human resources, distribution, special projects or finance for a business, non- profit, government agency or association. And, oh yes, you’re pretty darn good at what you do.Trouble is, you may know very little about the public relations someone else is doing on your behalf.And that could cost you dearly.Why? If your PR is focused on simple tactics like press releases, broadcast plugs or brochures, you’re not getting the best public relations has to offer a manager like you.Instead of just tactics, consider using a strategic public relations plan that alters the individual perception of members of your key outside audiences, thus beginning the process of changing their behaviors.Then, your new PR plan will lead you to actually persuade many of those key outside folks to your managerial way of thinking, helping to move them to take actions that allow your department, division or subsidiary to succeed.So, what are you REALLY doing at this point?You are using public relations to do something positive about the behaviors of the very outside audiences of yours that MOST affect your operation. Especially welcome when PR creates the kind of external stakeholder behavior change that leads directly to achieving your most important managerial objectives.Which is why I believe you need a clearcut public relations blueprint designed to get all your team members and organizational

Closing on your sale

Informing a prospect about the features and benefits of your product is NOT the same thing as asking them to buy the product. You eventually have to ask your prospect to buy. A sales lead that keeps on leading but not buying is not a lead at all. At some point you have to close the deal by either selling or dropping the lead. Being in the executive office suite business, I get many calls from sales people who want to sell me widgets. The widget may be a phone service, or internet connection or paper supplies or copier toners. An experienced sales person will spend the necessary time to explain why their widget is better and answer any questions I might have. But eventually sales person will ask me to buy his or her widget and move on I tell them that I am not in the market for a widget. An inexperienced sales person however will just keep on telling me more about product features hoping that they will stumble onto some magic words that will cause me to buy. They are afraid of closing the sales process because I might say no. But they need to realize that the magic words are “Will you buy my widget?” and if my answer is no, just move on to the next lead. But they don’t ask and when I say that I am not interested in the widget, they keep repeating how great their widget is. In my business, my prospects rarely make decisions on the spot after seeing the features and benefits of my virtual office service. They need time to think things over and see other offerings before making a decision. They are trying to make an informed decision. Knowing this, I ask when we can talk again to see whether our virtual office service will work for the prospect. When I call them at the agreed on time, I should know whether I should prepare a service agreement or move the lead to my “follow up in the future” folder. I try to help my prospects to objectively sort out their options without being biased. What ever their decision is, I should have closure on my sales lead and move on to my next qualified lead. There's nothing worse than pushing people to make decisions when they are not ready.

Deliver your product as promised

Once the sale is made, make sure the product is delivered as promised and on time. Buyers often get “buyer’s remorse”. Buyer's remorse is a period of time when buyers question the purchase for what ever reason. They may feel that they bought the wrong widget or paid too much for the widget or what ever else a buyer’s thought process takes them. During this period, if they experience any snags in product delivery, the “buyer’s remorse” factor will become stronger. The snag could be anything, late delivery, defective product, or not what the buyer ordered. The result could be a bad impression or worse, a refund. Don’t let this happen to you after putting in so much effort in your sales process. Deliver the product on time, on budget and in the quality and specification promised. In my business, this is even more critical since I deal with people’s business identity and operation. If I don’t have the office space ready on time it's more than an inconvenience for my client. They can't get their work done. So I do everything I can to make sure that every aspect of their virtual office is ready on-time. I make sure that the telephone service is turned up correctly, the telephone number and their business address have been sent to them along with instructions on how to use the services, the internet connection is working properly, the workspace is cleaned, company sign is posted and spelled correctly, etc. When I deliver my product I want my customers to know that they have made the right choice in selecting our virtual office service. I try to not to leave anything to chance.

Follow up service

Delivering your product is not the end. Even after your product has been delivered and you have been paid, your product is under constant evaluation until the buyer becomes comfortable with it. After a few days or weeks of delivery (whichever is appropriate your product), give your new customer a call to see if they are still happy with your product. If they are not, offer to fix the problem right away. This kind of willingness to go the extra mile will leave a long lasting impression that you are not just about taking their money and moving on. Your customers will appreciate the fact that you care even after you have been paid. It might even lead to additional sales in the future or a referral to a new qualified lead. In my executive office suites business following up on a sale is unavoidable since my product is my office suite space where I also work out of. I see my customers every day. I always leave my do

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Many people are looking for proofreading jobs but have really no idea how to find them! Here, we will give some basic advice that will help you find a good way into the field.

We all know the saying, “Failing to plan (prepare) is planning (preparing) to fail.” I truly believe in this statement and I hope you do as well. Building your service business, including marketing it must be planned and does take work.

Not every group you attend is based on exchanging leads. Some have rules that will fit your type of business. If you do not know what a leads exchange group can do for you, please take the time to read this article.

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