Recent Entries
Aug 21, 2010 Small Business
Affiliate Marketing is by far, one of the easiest ways to make money online. It is a revenue sharing business relationship between the affiliate who agrees to promote the products or services, and the merchant who offers them.
The affiliate advertises the merchant’s products and services and gets a commission for every successful referral. Every time a customer is referred to the merchant’s site, through the affiliate’s efforts, and makes a purchase, the affiliate gets a share of the profit. No payment is due to the affiliate until successful results are realized. Compensation is based on either number of visits (Pay-per-click), registrant (Pay-per-lead), or commission for each sale (Pay-per-sale).
Affiliate Marketers can earn a few bucks to thousands of dollars with affiliate programs. The opportunity to earn in affiliate marketing can only be limited by the affiliate’s determination, creativity and strategy. It is a brilliant way to earn online, and you do not have to produce your own product or service to make a buck. By advertising your merchant’s products passionately, you get more in return. Profits in affiliate marketing usually start small but can get larger as the campaign starts to build up steam.
There are many ways that an affiliate marketer can do to maximize their profits. If you ask any affiliate marketer how many affiliate checks they would want to receive, they will most likely want to get as many as possible. Some affiliate checks are small, amounting to nothing more than $25.
While others are large and can easily reach the thousands and even more. Over time, these affiliate checks may build up to a really impressive amount. However, making a fortune in affiliate marketing is not instant. You should put in enough work and effort as well. You have to use your imagination to find more ways to attract more web traffic that can convert to sales for the merchant and profit for you as well.
How many affiliate checks do you want to receive? Most affiliate marketers will enthusiastically reply that they want to receive as many affiliate checks as possible. However, is it as easy as it sounds? Does joining many affiliate marketers guarantee more affiliate checks that really amount to something? The answer is No. Most affiliate marketers assume that joining multiple affiliate programs is a wise option. Because, it is very easy to join affiliate programs and there is really nothing to lose, affiliate marketers are tempted to join as many programs they can get their hands on. Thus, they fail to give their affiliate programs enough attention and work that they ought to receive. The maximum potential of the affiliate programs are not realized and the resulting income from these programs will almost certainly be disappointing.
The best way to achieve multiple streams of income is to concentrate on one affiliate program first. Choose a product or service that you can promote passionately. Pick a product in which you have complete trust. The best products and services to promote are those that you use personally. Your prospects will be able to sense your sincerity whenever you promote a product that you have experienced. This will greatly enhance your credibility as well as your product’s marketability and will really encourage your prospect to purchase or avail of the product or service.
As soon as your first affiliate program is making a reasonable profit then you can proceed to joining another affiliate program and repeat the process. “Too much, too soon” is a common pitfall in affiliate marketing. Joining too many affiliate programs simultaneously in the hopes of having multiple streams of income simply does not work.
Focus first on one affiliate program and work on it so that it makes a good profit. Then, go find another promising program and give it your best effort. The question should not be how many affiliate checks you want to receive, but how many “high-paying” affiliate checks can you receive. The answer lies in your determination to succeed and determination to maximize your earning potential. With the right tools, the right actions, and perseverance you can definitely make a good profit out of affiliate marketing.
Aug 11, 2010 Small Business
As many already know, adequate lighting is a critical part of keeping your home safe. Even though lighting is very important to home safety, a lot of homeowners don’t look at their lighting as being an integral aspect of safety. No matter where you may live, you should always make sure that there is plenty of lighting in place and that the lights are out of reach for those without a ladder.
The lighting that is around the doors of your home is very important, as most burglars like to focus on doors before anything else. When it comes to the doors of your home, any lighting at all is better than no lighting. If a burglar sees lights around your home, chances are he’ll move on. If the lights are off however, the burglar will more than likely proceed as planned.
If you own a garage, you should always use an automatic garage opener. Once they have been activated, most will automatically turn on the lights. Your carport is also important to safety. If you are going to be away from home, you should always make sure that the leave the light on your carport on. You can also use motion detected lights as well. When these lights detect any type of movement, they will automatically turn on which could easily startle a burglar.
For the exterior of your home, motion detected lights are the way to go. If you have a large backyard, you should always make sure that you use motion detected lights. To be on the safe side, you can always connect an alarm to the lights. This way if someone was to move through your yard, the lights would sound the alarm. Burglars don’t like alarms and they will normally flee the instant they hear an alarm sound.
If you are planning to use motion sensors in your front yard, you should make sure that you have planned the locations carefully. People walking by the sensor or kids playing nearby can easily trigger it. When you set the motion sensors up you should always make sure that you hook lights up to them as well. This way, those in your family will know where the motion detectors are and they can easily avoid them.
Having the right amount of lighting around your home will go a long way in keeping your family safe. Burglars don’t like to be around light, which is why it is so very important. If you don’t have a lot of lights around your home, you should do something about it. It doesn’t have to be anything fancy all you need is enough lighting to make sure that a burglar thinks twice about breaking into your home.
Aug 1, 2010 Small Business
How much is your time and expertise worth? Its the age old challenge for consultants: how much do I bill my clients? Sadly, there is no set in stone answer, however, here are some tips that will help you establish your rates.
First, lets look at your client’s needs. Why are they hiring an outside consultant, when they have employees? There are several reasons why your client is interested in hiring you as a consultant:
a) third party opinion – employees know where their bread is buttered, so they are less inclined to go against the current direction of the company. As an outsider, there is no concern with offering a different opinion. Your independent opinion can provide a much needed, focused perspective your client’s company needs.
b) you are cheaper – this is what is normally the hardest for new consultants to understand. How can you command $75/hr when your client has reps working for $20/hr. It normally ends up with the consultant charging a lower rates. No more!
The employee:
$20.00 Hourly rate
$ 7.00 Fringe Benefits @ 35%
$10.00 Overhead rate at 50% (computers, office space etc)
$37.00 Total effective pay rate
Hours per year: 2080… Annual salary $76960
The contractor:
$75.00 Hourly rate
Hours per year: 480 (12 weeks, 3 months worth of work)…. Cost of completing the project: $36000
Your client gets the project completed quicker, and you end up saving them over 50%.
c) expertise in a specific area – you clearly can bring something that no other person on their team can. That’s why they called you. As the expert in your chosen field, you can meet your clients needs with quickness and efficiency.
d) motivated to get job done on time, and likely, on budget – your work becomes your reputation. If you take too long, or go over budget, you wont see any future business from your client. However, provide the customer with what they need, under promise and over deliver, and not only will you retain your client for future business, you will get referrals. That’s motivation that no employee has.
Now that you know what is motivating your client, you have the groundwork to start to establish your rates. As show in the second reason for hiring a consultant, while your hourly rate may appear to be more than their employees, it actually works out to be less expensive. Any fears or unease that you have in commanding a hire rate than their employees should now be eased. However, how much more can you charge?
Who is your competition?
Establish what their rates are, and then confirm what can they offer. Can you honestly provide more services, better customer service and come under budget or on time? If your competitors can provide more than you, you’ll find that you may only be able to compete with a lower rate. However, if you can offer more, and have the proven results to back up that claim, you can justify a higher rate.
One key factor to remember is that if you charge a lower rate than your customer, you open yourself up to clients who will demand more of your time (it doesn’t cost them as much as your competition). This may lead to finishing projects past due and scheduling conflicts with other clients. So while you may be able to charge an extra $40 per hour for example, you may end up losing clients, and worse, having client demands cut into your personal time.
If you bill a higher rate, you may surprisingly find that you get better clients, and more referrals. If you can justify a higher rate, your clients will be very specific with you in terms of what their needs are (saving you time). Clients who are willing to pay a higher rate, will referral other clients who are willing to pay a higher rate.
Your rate will impact the amount of business you receive. One term successful consultants learn very early is to understand the concept of value billing. Instead of billing by the hour (which many of your clients will be leery of), consider billing by the project.
By negotiating an amount the client will pay based on the project, you can establish milestones at which payments will be made, and provide added motivation to get the job done and the client signed off quicker. If the project is going to take you 10 hours, consider negotiating an amount for 1.5 to 2x your normal hourly rate. If you get the job done in 5 hours, you get paid the full amount, not for 5 hours. The client is happy because they know what the cost ceiling is, and most importantly, the project is delivered early.
Another benefit of value billing is that you can set up milestones whereby you can get paid. If you advise your client that the project will be completed in say, 6 weeks, and comprise of 3 phases, you can receive payment from them when each phase is complete. Finish early, you get paid early and your client is happy. Finish behind schedule and your client isnt paying for work that isn’t complete yet.
This method helps to improve your cash flow. This is key for any self employed consultant.
So, how much are you worth now?
Jul 22, 2010 Small Business
As crime and theft with businesses continues to get stronger and stronger, the need for security increases as well. Although security personnel is a must have, businesses need another form of security that isn’t quite as noticeable. Crooks can spot an individual without a problem, which is where security cameras come into play.
Security cameras are very popular these days, coming in many shapes and sizes. The wired types can fit in speakers, clocks, and even smoke detectors. The wireless types on the other hand are far more flexible and can be placed nearly anywhere. Wireless security systems are a great addition to any home or business, as they can be placed in areas that a thief wouldn’t even begin to suspect.
For the home or business, Internet wireless security cameras are a great way to monitor remote video. The system camera will transfer signals through a LAN adapter or wireless network on to a specific IP (Internet Protocol) address. This can be a great way to keep a watchful eye on your property while you are on vacation or out of town. There are some Internet systems that will alert you via email if there is any detection in movement.
The cameras that work with home surveillance systems are power driven, normally by 9 volt batteries, providing up to 10 hours of energy. They are very powerful cameras, as even the slightest amount of movement will activate the motion sensors in the cameras. Once the camera has been triggered, it will immediately start recording video, taking pictures, or transfer the live video feed to another computer.
There are also digital security cameras as well. Even though they are smaller in size, they can still record video for a long period of time. They are so popular these days due to the fact that the video or pictures that are stored on them can be saved and edited on a computer. Digital security cameras also eliminate the needs for recording tapes as well, which can take up a lot of space and aren’t very safe for keeping in areas with high temperatures. Digital security cameras store the information within their memory, which will help you keep up with the pictures and video feed.
Security cameras have been around for many years, gaining their reputation and popularity with businesses. As years went by and they became more affordable people began to use them in their homes. A security camera at home can be a great way to protect yourself from burglars and break-ins, keep an eye on the babysitter, or just monitor things while you are away. Security cameras are very affordable and they can easily give the peace of mind in knowing that your home is protected no matter where you go.
Jul 12, 2010 Small Business
I was approached by a client the other day with a question I couldn’t immediately answer. He has a small construction business and was looking for a partner so he could win bigger contracts, and he wondered how he should go about doing that. I had to tell him I couldn’t give him advice on structuring a small business because I’m not a lawyer or an accountant, but I knew I could give him information, so I started to research.
I knew from setting up my own company about the various structures Canadian small businesses can use. I thought his choices would be limited to sole proprietorship, partnership and incorporation. There’s also a co-operative, but that doesn’t apply to my client. I guessed that the best way to help him out would be to define and give him the advantages and disadvantages of each.
Sole proprietorships are owned by one individual, and are legally considered an extension of yourself. That means that any liability or obligation your business incurs is also a personal liability or obligation. So, if your sole proprietorship fails, your personal assets can be seized to pay for that liability of obligation. I’d say that’s a pretty big disadvantage. On the plus side though, sole proprietorships are the easiest to set up and, and don’t even have to be registered if its name is exactly the same as your own.
A partnership is an agreement between two or more persons to carry on business together. Partnerships are a separate legal entity from you, and must have at least one general partner. All partners can be general, but there must be at least one general partner. Partnerships are relatively easy to set up, but although not a requirement, the parties should have a contract between themselves outlining responsibilities and obligations.
A general partner is responsible for business decisions, running the company and acting on its behalf. Each general partner is jointly and severally liable for partnership debts. This means one partner can be held responsible for the decisions, debts and obligations of another partner. Strike one against general partnerships, I’d say.
So what about a limited partner then? Limited partners are not involved in decision-making or in the day-to-day running of the business. Usually, a limited partner’s contribution is financial, and their liability is limited to the amount they invested in the firm. What that means is you basically have no say over how the money you invested is used, which means you have zero power. And, the moment a limited partner becomes involved in running the business or acts on behalf of the business, they become a general partner.
A corporation is a separate entity from yourself, which means you don’t have personal liability for debts, obligations or even acts of the company. You’re not personally responsible for any decisions someone else in the corporation makes, and you’re only liable up to the amount of unpaid portion of shares you own. Sounds pretty good so far.
Limited liability is a big advantage over other forms of small business structure. And there are more advantages. Corporations continue to exist after their shareholders die and can be passed on to family or friends. Raising money is easier for a corporation than either sole proprietorship or partnerships. There can also be tax advantages.
So what are the disadvantages? Well, there’s more paperwork because you’re required to keep records and you have to file a separate tax return. It costs more to register a corporation than setting up a sole proprietorship or a partnership. And, if you give a personal guarantee, which banks often ask for, you may be liable for that amount even if your company ceases to exist.
I thought my client’s choice would be limited to those three choices, but further research showed I was wrong. There is another one: joint venture. A joint venture is like a partnership because it’s an agreement between two or more people or small businesses, but there are important differences. In a joint venture, two or more people contribute goods, services or capital to one business enterprise. To date, Canada does not have specific laws governing joint ventures, as it does with all the other small business forms.
A joint venture agreement outlines joint venture terms, contributions of each party, management structure and how the profits will be divided. Joint ventures avoid the partnership disadvantage of joint and several liability, and also allows each joint venturer to regulate their own tax deductions. That’s a big advantage for joint ventures.
However, a joint venture has sometimes been defined by the absence of key partnership elements. This means small businesses intending to enter into a joint venture agreement must thoroughly understand partnership elements and avoid using them in order to avoid being deemed a partnership rather than a joint venture. What might have started out being a joint venture could lose its joint venture advantage by being deemed a partnership, and inherit the disadvantages of a partnership instead.
You can incorporate a joint venture, which would then have the same advantages and disadvantages of any corporation. And it would have the advantages and disadvantages of a joint venture. Could this possibly be the best solution?
So, I showed all this information to my client last week. He was glad to be able to understand all the differences, and wants to make a decision by the end of the month. I wonder what his decision will be. I know what I would do. Do you?
Jul 2, 2010 Small Business
When the topic of home security springs to mind, most people seem to think of burglar alarms and little to nothing else. Alarms can be a great way to protect your home, although they are only a small part of what makes up an effective home security system. Burglar alarms are a key to protecting your home although there are other things you’ll need as well.
Believe it or not, the windows are actually the key to home security. Homes that have poor constructed windows tend to get broken into a lot more than homes with secure and sturdy windows. When you are dealing with your windows, you should make sure that you have tough glass and locks that fit to the windows. When you are away from home, you should always make sure that your windows are locked. Even though some windows may be hard to reach, you should always lock them. Burglars make a living out of stealing and they will normally find a way in if they see the opening.
Along with the windows, doors are also known to be a weakness of security around the home. Doors should always be strong and sturdy, complete with tough locks that aren’t easy to force open. If you have a spare key, you should be careful where you leave it. Losing your keys can also make you a target, especially if you have anything on your key ring that reveals your home address.
To better protect their homes, most people choose to invest in a home surveillance system. These systems are great for monitoring the home, as they can record video and keep it stored for you to view later. If you travel a lot, a home surveillance system can be an ideal way to keep a check on your home while you’re away.
Guard dogs are also common with home security as well. A guard dog can protect your home from burglars, thieves, and other types of trouble. Guard dogs can be very handy to have around, as most dogs are more than capable of scaring away trouble with their bark. The only downside to guard dogs is the fact that you’ll need to train them and ensure that they always have food and water.
Last, but certainly not least are burglar alarms. Burglar alarms can be effective to an extent, although they are primarily good for scaring thieves away. If you put an alarm in a visible location from the outside of the home, most burglars won’t even attempt to enter your home. Even though burglar alarms are great for scaring off thieves you’ll still need to have other areas of your home safe and secure as well to get the most of your home security.
Jun 22, 2010 Small Business
Want to buy a franchise opportunity? Great idea! Here is a high-level overview on what to look for:
Operating History - A long history of success is the #1 thing to look for. If many other franchisees have been successful over the years, your chances are probably pretty good that you will be successful too.
Location, location, location – Investigate the territory rights. Make sure that your site selection is a good one. Don’t settle for a second rate site.
Investigate – Don’t believe everything you hear or read from the franchisor! Investigate. Lean on those experts around you such as an attorney or an accountant. Visit some existing franchisees(choose to visit ones that the franchisor does not recommend, not just the ones that they feed you).
Labor pool – If your franchise is labor intensive (example: restaurant), what is the depth and quality of the available labor pool? Any business needs a strong qualified workforce in order to succeed.
Initial training – Make sure that you and all key employees are adequately prepared. Grand opening support is a must.
Ongoing support – A critical component for success. Make sure that all levels of support are included, and get it in writing upfront! Don’t rely on their statement, “Don’t worry, we will take care of you”.
Marketing programs – Franchise marketing is important. Make sure that any marketing dollars contributed to the franchisor are spent wisely.
Purchasing power – Can the franchisor pass on cost savings to you based on mass purchasing power?
Investment amount - While the upfront cost of the investment can seem expensive, in the long run it is probably not. A more significant expense can be the ongoing royalty and marketing fees.
Exit strategy – If the opportunity does not work, what is your exit strategy? Will the franchisor assist you in re-selling the franchise? Will they help market it for you? Many franchisors will actually provide a section on their web site for franchise re-sales. Beware if there are a lot of re-sales relative to the total number of franchises in existence.
Jun 12, 2010 Small Business
We all remember the days of the padlock. When they were first available, they presented a great way to keep your belongings safe. They were common with lockers at school, with just about every locker having one. Padlocks were easy to open as well; all you needed was the combination. Once you had the combination, all it took was three clockwise turns, two counterclockwise, and once last clockwise turn to hit the final number and open the padlock.
Although the combination padlock was popular for it’s time, people soon began to realize what happened when they forgot the combination. Combination padlocks were great for those who had a sharp memory although sooner or later forgetting the combination was bound to happen. Once the combination had been lost, a pair of bolt cutters would be required in order to cut the lock.
Shortly after the combination padlock came the padlocks of today lock and key. Padlocks that required a key were much easier to use, requiring no combination. All you had to do was keep the key with you at all times and you had no worries about the padlock. If you ended up losing the key however, you would need to cut the lock. To prevent losing the key, most people chose to put the padlock key on their key ring or wear it on a necklace around their neck.
The most popular type of padlock today is Master Lock. The Master Lock brand has been around for generations, proving to be the hardest type of lock to break. It’s been well proven and well documented that guns can’t harm Master Locks. Even if you shoot the lock dead on with a shotgun or handgun, the lock won’t give. Master Locks are made of solid high grade steel and won’t give way to a few shots from a gun. Although they may sustain damage from the blast, they will still be there once the shooting has stopped protecting what you have them locked to.
Although Master Locks are the most popular and most common type of padlock, there are other types available as well. Multi-Lock, Medeco, and KW are all excellent examples of quality padlocks. These locks feature unique and innovative designs that are near impossible for thieves to get rid of. You can use them around the house to keep doors locked, safes locked, cabinets locked, and virtually anything else that contains your possessions.
The best thing about padlocks is the fact that they are very affordable. You can find them in virtually any department or hardware store. You can shop online as well, and compare what each company lock will offer you. The next time you need to lock up something and you need a small lock you can count on one of the many padlocks to give you the protection and safety you need.
Jun 2, 2010 Small Business
A web site is a crucial ingredient of your marketing strategy because it can widen your target market to include anyone who has access to a computer and the internet. Almost 60% of Canadians had access to the internet at home in 2003, and around 8 million had regular access to the internet from somewhere, either at home, at work or at school.
And that’s just in Canada. Ecommerce sales from Canada were $7.2 billion, and we only captured 4% of the global ecommerce market! So, how can you reach some of those internet surfers, and how can you capture some of that $7.2 billion spent in ecommerce?
First, you build it
The first step is designing your website. If your company already has business cards and letterhead, it’s best to design your website around them. A matching corporate identity and website helps with branding.
I like uncomplicated websites, with a simple layout and easy navigation. A nice, simple layout, with good graphics, balanced look and good color combinations is my #1 goal when designing a small business web site. Remember to use graphics sparingly and to optimize them for your website because internet surfers are impatient. If your page loads too slowly, they’ll leave.
Navigation should be easy to find and to use, and it should be consistent from page to page. I’ve left more than one site frustrated because I couldn’t easily find their navigation.
Small business web sites aren’t static. They evolve. You need to start somewhere, and starting with an introductory web site is probably easiest. All you really need to start is five pages. You can always add pages later. The important thing is to just do it-take the plunge and get it out there.
Your five pages could include an index, or home page, about us, services, contact and a sitemap. The index page is your landing page. Typically its design is a little more detailed than the others, but it doesn’t have to be that way.
I like to use CSS (cascading style sheets) for designing because it’s simply easier to build a web site and to edit its layout with CSS rather than just HTML (hypertext markup language) alone. A change on a CSS sheet changes all the pages on your site at once.
Content is king
Once your site is designed, you’ll want to start thinking about content. Design is very important, but it does little good to have a beautiful site without high-quality content.
Your small business home page introduces you and your company-who you are and what you do. The about us page is usually used to give more detail than the home page about who you are, and your services page gives more detail about what you do. You might wonder why you’d “waste” a page on a sitemap since you only have 5 pages, but sitemaps help search engines find all the pages in your site.
As far as content goes, more is better, up to a point. Your pages should be content rich and informative, but they also need to be relevant to your small business. If your visitor can’t figure out what your web site is about in just a few seconds, they may leave.
The internet was at first strictly informational, and that’s how it remains today. Several times people have tried experiments using copywriting similar to direct mail sales letters, but they’ve all failed. It seems as if people surf the internet more for information than anything else. Knowing this will help you write pages people will want to read.
Attracting visitors
You could follow your instinct and just start writing, but wait. There’s research you must do first, or your web site simply won’t be high enough in searches to be found. Search engine optimization is far too big a subject to cover in this short article, but among other things, search engines find your pages based on keywords.
So, pretend for a moment that you’re on the other side of the desk. If you were a customer of your own business, what words or phrases would you use to search for your product or service? Ask friends and neighbors how they’d search for your product or services.
When you’ve come up with a few, check them out on a keyword suggestions tool. You can also use that tool to suggest similar words and phrases. Then find out how many results there would be if you searched for that term. What you want to do next is narrow down your choices to the words or phrases that are searched for the most, but have the fewest results.
Remember that people generally don’t look beyond the first three pages for any search term, so if you’re not in the top three pages, your business is not likely to be found at all. If there are millions of results for your phrase, you might simply need to make it more specific.
For example, let’s say you have a small business consulting company that specializes in communication for small business. Using “communication” as a search term is nearly pointless because there are almost 2 billion results for that word. But, there are only 974 results for “small business communication”.
Much better, but how often is that searched for? According to WordTracker, it’s searched for 10 times a day. Not bad, but I think we can do better. How about “small business consulting”? That’s searched for 261 times a day, and there are 373,000 results. That could be the best primary phrase for a small business communication consulting company.
What you want to do, is write your content around those words and phrases. You don’t want or need very many-three or four are plenty.
Getting them to come back again and again
Getting visitors to come back to your site again and again is relatively simple. Keep your content fresh and lively, make sure it’s informative, and add to it often.
I hope you decide your small business needs a web site. It’s the best way I know how to reach a wider target audience with a relatively small investment.
Latest Entry