Shaking Your Money Tree: Seven Ways to Make Quick Cash

Does your business have a money tree you can shake when a little extra cash is needed? Every business should have one!

What I mean by a money tree is something you can do to quickly generate revenue when you need it. Where can you find a money tree? Although you can't buy one at your local garden store, they are more common than you might imagine. Just as in a forest, there are many species of money trees, so you need to find one that is right for you. Here are a few common varieties:

The Sale Tree brings in cash by making a discount offer to customers. Buy before June 30th, and you get a lower price. This creates a sense of urgency for customers to buy now in order to save money and can create a new flow of sales for you.

The Bonus Tree can work like the Sale, but instead of a discount, customers get a free item with purchase. Buy one, get one free, for example, or buy this item and get a free accessory. You might make the bonus item something only available as a bonus, and not available to buy. Booklets, books, audio programs and other items with a low production cost and high perceived value are great bonus items.

Generate cash with the New Product Tree by introducing a new product. Customers love new things, so announce it with a flourish. You might cross the New Product tree with the Sale or Bonus tree to get a hybrid with extra appeal.

Shake the Personal Touch Tree by contacting current or former customers and reminding them it may be time to do business with you again. Perhaps the supplies they bought from you a few months ago are running low, or it's time for a follow-up service.

The Referral Tree should be in bloom all the time, but you can get better results when you tend it. Do a mailing or phone campaign to ask current customers to refer their friends and colleagues. You may be able to generate lots of sales quickly this way.

The Cold Call Tree can be hard to shake, but the results can be worthwhile. Identify your best prospects and call or visit them.

One of my favorites is the Publicity Tree. It's an odd one, in that you never know when it is going to bloom, or what it will look like when it does; however, the results are often magnificent. Provide a jumpstart in its growth by regularly sending press releases and pitches to the media.

Decide which money tree is right for your business, then nurture it and keep it growing. And, every once in a while, shake the heck out of it and watch the dollars come floating down!

Ten Ways to Strengthen Your Reading Habit

Most people wish they read more. It is an activity that is both fun and enlightening. It can help us be more knowledgeable and successful. However, it is an activity that many people don’t engage in very much. According to the 1999 National Household Education Survey, 50% of the U.S. population aged 25 and over read a newspaper at least once a week, read one or more magazines regularly, and had read a book in the past 6 months. What does this mean? It means that 50% of the population hasn’t read a book in the last six months!

Looking at the other end of the spectrum, research shows that if you read ten books a year, you are in the top few percent of all people as readers. Simply stated, it doesn’t take much to be well read, but we do need to know how to get started. The following are ten suggestions to help you strengthen your reading habit – ways to find and make more time for reading.

1. Always have a book around. Don’t go anywhere without reading material. Keep magazines or short stories in your bathroom. Always have something in your briefcase to read. Keep a book(s) by your bed. Having things available makes it easier for you to steal otherwise lost moments.

2. Set a reading goal. Determine how much time you want to spend reading, or how many books you want to read over time. Your goal might be a book a month, one per week, or it might be to read 30 minutes a day. Start out with something attainable but still a stretch. As your habit builds, you might set higher goals. Setting a goal is the first step towards reading more.

3. Keep a log. Keep a list of the books you have read, or keep track of how much time you read each day. You might keep these lists in your journal or your day planner. My son’s log is on our refrigerator. My list and log are kept on my computer. It doesn’t matter where you keep it, just do it.

4. Keep a list. Make a list of things you want to read in the future. Ask your friends and colleagues what they are reading. Watch for recommendations in the newspaper and magazines. Once you start looking for good books, you’ll find them everywhere. This is a great way to keep your enthusiasm up. By knowing what great stuff you want to read, you will reinforce your reading habit.

5. Turn off the television. Many people say they just don’t have enough time. Television is one of our major time consumers. Make your television watching more conscious and less habitual. There is nothing wrong with watching television shows you really enjoy. Where the time gets lost is turning it on, and scanning to find “something to watch.” Those are the times to turn it off and pick up your book!

6. Listen when you can’t read. Use your commute and other time spent in the car to listen! There are great audio versions of all sorts of books. Whether you want to “read” fiction, the latest self-help or diet book, it is probably available on tape. Don’t get locked into the idea that you have to read it – listening to the book still gives you the experience, ideas, and imagination that reading a book can.

7. Join a reading group or book club. Reading groups typically meet once a month to discuss a book they have all decided to read. Committing to the group provides a bit more impetus to finish the book, and gives you a great forum for discussion and socialization around the book’s themes.

8. Visit the library or bookstore often. You have your list, right? So you’ll have some ideas of what you are looking for when you walk in. But there is more to be gained by walking through places where books reside than just to make a transaction. Take time to browse! Let your eyes find things of interest. Let serendipity happen. Browsing will feed your mental need to read, and give you plenty of new things to read.

9. Build your own strategy. Decide when reading fits your schedule. Some people read first thing in the morning, some before bed. Some decide to read as they eat their lunch. And there is more to your strategy than just timing. Make your own decisions about reading. It is ok to be reading more than one book at once. It is ok to stop reading something before you finish if it isn’t holding your interest. It is ok to skim the book, getting what you want or need, without reading every page. Determine what works best for you, develop your own beliefs and ideas—then make them work for you.

10. Drop Everything and Read. My son’s fourth grade class has DEAR (Drop Everything and Read) time. When the teacher calls for it, that’s just what they do. They read now. That is my last piece of advice for you. Do it. Just get started. Make it DEAR time. Now.

Yummy Yummy: Top 7 Business Lessons

At Macquarie University in the early '90s, three Australian early childhood education majors, Murray Cook, Greg Page, and Anthony Field, decided they had an urge to dress up in brightly colored red, yellow, and blue (respectively) costumes that look like the uniforms on the original "Star Trek" series. It wasn't long before they convinced Anthony Field's bandmate in The Cockroaches, Jeff Fatt, to don a purple shirt and start entertaining at birthday parties while they danced and sang about fruit salad and wallabies.

If you're a parent of a small child, you probably know this Aussie quartet as The Wiggles, who are the Beatles, Monkees, or 'N Sync of the kid set. They are the highest paid entertainers in Australia, ahead of Russell Crowe, Colin Farrell and Nicole Kidman.

You know right off when you watch their DVDs and videos (which you will, at least 200 times each) and their TV show four times a day on Playhouse Disney that these guys are definitely not an American creation. Mister Rogers, Mister Dressup and Bozo the Clown are gone, and no modern adult American males would dress in funny costumes and entertain kids with songs about "Fruit salad, yummy yummy!"

Their loss. The Wiggles, who earn $14 million per year, are the latest kids' sensation, and what they can teach us about success and finding your life's passion will inspire corporate America to play the guitar and dance with the Wiggles' friends, Wags the Dog, Henry the Octopus, Dorothy the Friendly Dinosaur, and Captain Feathersword the Friendly Pirate, who acts with cheerful swashbuckling bravado that would make Johnny Depp want to slit his own pirate throat.

1. Do what's good for your audience without lecturing.

The Wiggles don't resort to After School Special messages. You want to know about the value of a healthy diet? Have some fruit salad! Exercise? Let's get up and "Romp Bomp a Stomp," or dance and play, with Dorothy! Let's do the pirate dance with Captain Feathersword and run after the Wiggles in their big red car. The songs do what songs, dance and theater were designed to do originally: pass on knowledge. They do this in a fun, clever, colorful, eye-catching way. The three Wiggles (Murray, Jeff and Greg) that have ECE degrees, and children of their own, know kids can understand what's beneficial for them without being spoon-fed. And Jeff...well, sleepy Jeff shows everyone the value of a good nap.

2. Find a way to include everybody and you'll reap the rewards.

Jeff, who doesn't hold an ECE degree, was shy about getting involved with kids, according to a Knight-Ridder article, "If you have small kids, get ready to Wiggle" by Rod Harmon. Greg, Anthony and Murray devised Jeff's constant sleeping and the running gag of asking the kids who participate in the videos and TV show to shout "Wake up, Jeff!" This has become so popular that there is actually a Wiggles video, "Wake Up, Jeff!" From the first Wiggles video to the current videos, you can see Jeff become more and more involved with the children, singing, dancing and playing, although he is quieter than the other three. Kids are always attracted to someone who's slightly different, and Jeff stands out even when dancing with a big green dinosaur reciting poetry and a purple dancing octopus. The other three Wiggles seem to encourage his uniqueness. From all the videos, CDs, and Jeff dolls they're selling, the approach works! When Wiggles doubles tour America, Jeff will be mobbed by kids too young to go nuts over Justin Timberlake.

3) Keep it live and stay in contact.

The Wiggles could get away with doing DVDs, TV shows and albums for their adoring fans the rest of their lives. But all of them are used to interacting. Murray, Greg and Anthony expected to be teachers. Jeff and Anthony played to crowds as members of the Cockroaches. They include real-life children, including members of their own families (as you see in the credits of their videos and DVDs), in their videos and talk to them. In one scene of "Hoop Dee Doo! It's a Wiggly Party," several children make emu skirts while one of the Wiggles talks to them. Undoubtedly, the Wiggles' live shows are no different, including the versions in Asia that will feature local native speakers as Wiggles clones ("The Wide World of Wiggles," Feb. 6, Newsweek Web exclusive). Even Dorothy has her own dance party on tour. Whether you send a giant green dinosaur with a floppy white hat or show up yourself, don't underestimate the value of making contact and getting involved. It's fun to run and jump around with kids, too (no wonder Anthony, who's always eating, stays thin!)

4) Don't follow the crowd or the market.

Most American non-Disney non-Nick Jr non-PBS kids' shows seem designed as 22-minute commercials for action figures or dolls, as well as ways to keep kids passively entertained. The traditional wisdom has been: Kids will be bored if there's no slam-bang action and there will be no way to make money out of doing something that's good for them. The Wiggles have proved this false. Kids dance and sing along with Jeff, Murray, Greg, Anthony, and friends, rather than sitting eating the sugary food du jour and mindlessly watching some freaky green monster get zapped only to reappear in the next episode. With an epidemic of diabetes mellitus and obesity in American kids, the Wiggles' approach is not only positive, but continues to breed success for the multicolored four.

The Wiggles themselves doubted there would be an audience for helping children learn through music and dance. A booking agent told them there would be no money in it, but they stuck to their guns, and became wildly popular in Australia. The United States was next and the Wiggles now are a solid hit on Playhouse Disney, with sold-out tours---they have even had to add second and third shows in many cities.

5) Getting international or multicultural isn't that hard.

The Wiggles don't need a multicultural sensitivity training class. After all, when your friends are a singing dog, a rose-eating dinosaur and an octopus with an underwater band, you don't have a problem with diversity. They regularly include Australian, Irish, Spanish, and other songs in their act. The franchise is expanding to Asia. If you think that this TV show doesn't sound like a likely hit in Japan, you've never seen "Pokemon" or anime, or the old classic "Ultraman."

6) Stay true to your roots.

There's no doubt that Murray, Jeff, Greg and Anthony are Australian (again, four American guys would not do what they do), although Dorothy sounds a bit more British. Songs such as "Willaby Wallaby Woo" speak to their down-under heritage, and you don't see them suddenly moving into a mansion in Malibu, pretending they're wealthy Hollywood Yanks with no family or kids.

7) Your family life only enhances your work and your passion.

Three of the Wiggles are married, Jeff apparently being too sleepy to settle down, although before Anthony married he was voted Australia's most eligible bachelor. These mates have built their career around children, and as noted in point 3, regularly include their own families in their videos. The family that eats fruit salad and romp-bomp-a-stomps together, stays together. If you give joy to millions of kids, it can't help having a lasting positive effect on your family.

Does all this inspire you to Wiggle, to get up and dance? You probably will if you have kids. But let it inspire you to follow your passion in your work, your family, and your life. Learn from those four career consultants, Greg, Murray, Jeff, and Anthony. And hey, eat some fruit salad. You need your health, mate.

Top 10 Tips on How To Write About Yourself

Many people find it really hard to write for business and marketing purposes about themselves and/or their product or service – much harder than it is to write about someone or something else. If that sounds familiar, read on; in this article professional business writer Suzan St Maur shares her top tips on how to write about yourself and what you do, efficiently and effectively.

1. Before you do anything else, ask yourself not what you want to say, but what you want to achieve with the text. Be honest with yourself and don’t be overly ambitious. Once you’ve clearly identified your objective keep it in mind throughout the writing exercise. You’ll find that keeps you on track far more effectively – what you want to achieve should define what you say.

2. Forget modesty. As an experienced salesperson would say, “if you don’t think you’re good, why the hell should I?” Equally of course you don’t want to exaggerate your strengths – that can lead to problems when you’re eventually called upon to deliver! But be realistic about what you can do and don’t be afraid to describe it in a positive light.

3. A useful way to achieve tip #2 is to step outside of yourself and regard yourself as a product or better still, as a brand. For the purposes of this exercise you are not Mary Doe the person. You are writing about Mary Doe the brand. It’s not as difficult as it sounds; write in the third person to start with, if you find that more comfortable. Imagine you’re a colleague writing about you.

4. Bear in mind that whoever reads this text probably won’t care much about you; they’ll only care about what you can do for them. Structure everything with that in mind. If you need to include factual/statistical information (educational details, qualifications, etc.) then make sure you stick it in a box so it’s visually separated from the main text.

5. Where possible, identify the audience who will be reading your text and aim your writing squarely at them. It’s possible that the “core” of your text can remain the same for a number of different purposes, with individual “tops and tails” aimed at specific audiences. The more relevant your text is to the reader – telling him/her how you and your service meet their needs – the more successful the text will be.

6. First person or third person? In point #3 we suggest writing in the third person to make it easier for you to regard yourself in an objective light. However there are times when you may need to present your text in the first person – e.g. in a letter or email. Try where possible to use the third person – if for no other reason than it gives you more leeway to write enthusiastically about yourself.

7. Follow the rules of modern business writing; keep it simple. Use “active voice” rather than “passive voice” where possible. Keep your sentences down to a sensible length and use no more than three or four sentences per paragraph. Use cross headings and “pullouts” to break your text up visually and allow the reader to pick up on the main points.

8. Where appropriate, use short clips of testimonials from existing clients or customers. Avoid the pleasantly banal bits and use phrases and sentences that have some meaning and bite. A sentence or two normally is plenty – any more and the reader will probably just skim over it.

9. Be sure that your grammar, spelling and punctuation are right. Although standards have been slipping in the last few years the recent publication of “Eats, Shoots & Leaves” has focused everyone’s attention on the tekkie bits of writing again. Goofs of this nature make your text, and you, look amateurish.

10. Do a reality check on your text after you’ve completed it. Show it to friends and colleagues and ask not if they “like” it, but if they feel it represents you fairly – and if not, why not. Then take other people’s opinions on board, but don’t lose sleep over them. At the end of the day you probably know yourself, and your market, better than anyone else. Don’t be afraid to make final judgments.

Business Meeting Etiquette

Business etiquette is essentially about building relationships with colleagues, clients or customers. In the business world, it is these people that can influence your success or failure. Etiquette, and in particular business etiquette, is simply a means of maximising your business potential by presenting yourself favourably.

Business meetings are one arena in which poor etiquette can have negative effects. By improving your business meeting etiquette you automatically improve your chances of success. Comfort, trust, attentiveness and clear communication are examples of the positive results of demonstrating good etiquette.

The article will focus on a few key examples of business meeting etiquette for both formal and informal business meetings. Although these are meant as guides to etiquette in the UK they are very much applicable to other nations too.

Informal Meetings

Informal meetings are generally more relaxed affairs and may not necessarily take place in the office or meeting room. Even so a sense of professionalism and good business etiquette are still required.

There are 7 points to consider with informal meetings:

•Business etiquette demands that the person calling the meeting (henceforth ‘the chair’) should be the most senior or the one with the most direct or urgent interest in the topic at hand.

•The chair should decide the time, place and agenda. These details should be confirmed with everyone to make sure all are in agreement and no inconvenience is caused.

•The chair must make the purpose of the meeting clear to the attendees, how long it will last and what is expected of them, i.e. particular information or preparation of documents. Failing to relay the proper information is bad business etiquette as it could cause embarrassment.

•Punctuality is a must. Keeping people waiting is considered the height of poor etiquette as it abuses their time.

•The chair should strive to ensure the meeting stays within a set framework or agenda so that it is kept as short and effective as possible. He/she must keep circular disagreements and the like to a minimum.

•The chair should (pre-)appoint someone to record the proceedings; documenting major decisions or action points. This can later be distributed to the attendees for reference.

•If the results of the meeting have an effect on others who were not present it is considered proper business etiquette to inform them.

Formal Meetings

The business etiquette of formal meetings such as departmental meetings, management meetings, board meetings, negotiations and the like can be puzzling. Such meetings usually have a set format. For example, the chair may always be the same person, minutes, agendas or reports may be pre-distributed or voting may take place.

Here are 10 business etiquette guidelines that are applicable to any formal meeting:

•Prepare well for the meeting as your contribution may be integral to the proceedings. If you are using statistics, reports or any other information make sure it has been handed out at least three days prior to the meeting.

•Dress well and arrive in good time. Your professionalism is linked to both.

•Always remember to switch of a mobile phone.

•If there is an established seating pattern, accept it. If you are unsure, ask.

•Acknowledge any introductions or opening remarks with a brief recognition of the chair and other participants.

•When discussions are under way it is good business etiquette to allow more senior figures to contribute first.

•Never interrupt anyone - even if you disagree strongly. Note what has been said and return to it later with the chair’s permission.

•When speaking, be brief and ensure what you say is relevant.

•Always address the chair unless it is clear that others are not doing so.

•It is a serious breach of business etiquette to divulge information to others about a meeting. What has been discussed should be considered as confidential.

The underlying principles of the all the above business meeting etiquette pointers are good manners, courtesy and consideration. If these principles are adhered to the chances of offense and misunderstandings are greatly reduced.

7 Ways To Make A GREAT First Impression!

1. Focus on the other
Being known as a 'natural' at interpersonal communication is not just a gift that a select few enjoy. We can all enjoy the reputation of being 'a great communicator'.

Simply focus the conversation on the other person. This takes the pressure off you -- you don't have to be a witty bon-vivant to be a great communicator.

Avoid interrogating your new acquaintance, and if you are really nervous do your best to control twitches and jittery movements. And (best hint coming...) ALWAYS slow your speaking rate down. Nervousness makes us talk too fast.

2. The eyes have it
Here's a great 'rule breaker': instead of sticking to the 'respect someone's privacy and personal space' rule, when you meet someone for the first time give them a good look right in the eyes.

It's well known that when we look at someone we find attractive, our pupils dilate, a phenomenon that the other person instinctively picks up on. Well, that phenomenon can also be put to good use in our business dealings, too. Notice the other person's eye colour, say 'great' to yourself, and you'll find yourself involuntarily smiling. The other person will pick up on your mood.

But try and avoid smiling lecherously, or as a vampire would when contemplating a tasty new neck...

3. Get over your 'bad hair day'
Whilst 'being yourself' is always a good thing for relational honesty, try and disguise your inherent pessimism and bad mood from new acquaintances.

Even though you know you are just 'having a bad day' or a bad half-hour, the other person will probably decide that you are a 'full-time whinger', an impression and reputation hard to shake.

A bad mood will spread contagiously, bringing down the other person too. Better to start off positively; you can always let them see your 'other' side on another day...

4. "Mirror in the bathroom" **
Adjust your posture, voice and gestures to those of your new acquaintance. Establish rapport by mirroring their head nods and tilts. Speak at their pace and volume level. You'd be surprised by just how many different 'voices' a successful salesperson uses in a day -- they spend a large amount of time mirroring the other person's gestures, voice, language, pace, intonation and volume.

** (a wildly unsuccessful link to an 80s ska/reggae song)

5. Tread lightly...
He's talking about his new Holden Commodore; you're thinking of your new Impreza WRX. Or she's talking about her latest small win at the office and you're thinking about the new $1M account you just landed single-handed.

Which do you reckon will be more impressive: you gloating about your wins and toys, or you letting the other person have their 15 minutes of fame?

Good manners, as well as psychological research, dictate that to impress your guest you should always keep at the forefront of your mind the question, "How am I making the other person feel?"

Actively encourage others to talk about themselves, and respond genuinely -- without bringing it back to yourself.

6. Focus on their achievements
Use flattery sparingly but powerfully by focusing on the other person's achievements, not their personal attributes. Even if they suspect you might be brown-nosing, they will still get a warm glow from a well-directed compliment. "You have a great eye for colour; I really like how you have put the office decor together" is more flattering than, "Nice office".

"I like your new BMW - you must be a real asset to the company for them to give it to you" is more flattering than, "So who did you suck up to?"

Similarly, "You have a great eye for colour; I really like how you've put your wardrobe together" works better than, "You look totally shaggable in that dress".

7. It's never too late
Remember, there's very little that is unfixable in our interpersonal business relationships. There is usually always another chance to fix false first impressions.

Let's say you arrive at a meeting late, having just copped a parking ticket from the previous appointment. Your mood is not, as they might say, triumphant and glowing. Instead of responding appropriately to a new acquaintance's polite greeting, you mumble a grumpy 'yeah' and drop your laptop bag unceremonially into a nearby chair.

Okay, not a good start. But step outside the room for a moment, take a deep breath, count to seven (ten is too long a pause) re-enter the room and look your acquaintance in the eye. Apologise and explain why you are out of sorts. You might even want to turn it into a joke by saying something like, "I see you just met my evil twin."

And remember to cut others some slack if they make a bad first impression on you, too! What comes around, goes around...

Business Attire: 10 Tips to Perfect Your Look

Being appropriately dressed is essential in making good impressions in the business and corporate worlds. A polished image is important in business survival and can be an important factor in career advancement. Periodically, it is a good idea to take a look at your business attire and the image you are presenting. Is it the image you want to project?

1. No matter what your age your business attire should be as professional as possible. Avoid clothes that are the latest fad and choose a more conservative look.

2. Wear clothes that are comfortable, that do not itch, ride up or bind. If your clothes are irritating, having to tug, pull or scratch is not something you will want to do in public. Dress to suit your personality while keeping in mind professional standards. When you feel comfortable you will feel more at ease and will be able to attend to business.

3. Your blouse should fit well. Be sure it is the correct size, is not taut and does not gap.

4. Keep your hemline conservative, about one to two inches above the knee. This length is not only more attractive but a length that suits most women.

5. Keep your business clothes clean and well pressed. If they should get stained have them cleaned immediately.

6. Avoid fashion fads in business. Do not wear flashy jewelry or jewelry than makes a clanging noise when you move.

7. Pinstripes are a classic business look and look best when the pinstripes are thin and widely spaced. Avoid thick stripes that are close together – this is a trendier look and not appropriate for business.

8. When attending business functions keep business cards in your pocket for easy access. This will allow you to present your card easily without having to search through handbags and briefcases. Remove the cards at the end of the day and keep them in a cardholder to ensure they stay in great shape.

9. Do not over fill your briefcase or handbag and create a disorganized look. To carry files and business materials invest in a stylish, feminine looking bag.

10. If you have an important meeting choose (and try on) the clothes you plan to wear beforehand. Finding that what you intended to wear is not what you expected could make you late or uncomfortable.

My 7 Most Important Business Lessons

Millions of people start new small businesses in the United States every day. Many fail at running a small business every day. What causes one business owner to succeed where another fails? There are seven key areas to focus your efforts for a successful small business. It starts with knowing oneself and ends with not being afraid to ask for help.

1. Know Yourself

Having your own business is more than just creating a job for yourself. To be a successful small business owner, there are many personal sacrifices you will be required to make. You have to be willing to make them. By knowing yourself and what is truly important to you, you will be able to make these choices far easier than if you have never considered your priorities.

Your basic roles in a small business are in marketing, planning, finance, and administration. To get the best results, it is rare for one person to play all these roles equally well. You must know which parts you can handle yourself and which parts you're going to need help with. That's why it's so important to be objective and take a close look at your overall strengths and weaknesses. Ask yourself the following questions:

- Do you plan before you take action? - Are you willing to hustle for the sale? - How financially savvy are you? - Do you have a well thought out plan? And, do you work the plan? - Do you know how to make sales happen? Can you ask for the sale?

In those areas where you assess yourself as weak, you can ask for help.

2. Ask For Help When You Need It

When you’re young and unseasoned, you tend to think you can do anything. This is a recipe for disaster for the small businessperson. If you insist on doing everything yourself, you will work 16 hours a day and not do some things well.

Remember, getting results is what counts! With outside advice and assistance, your quest for a successful business can be accomplished faster and with far fewer bruises than doing it yourself. When I started my first online business, I even created by own website. In retrospect, this was a big mistake. It took me far longer to create my site than having a more experienced person do it. Start equating every second of your time with money. Your time isn’t free. While you are trying to do everything, what’s falling through the crack?

Don't be too proud to ask for help, we all need help sometimes. With the Internet, the small business owner has a wealth of experience available to them. Why not take advantage of the many resources, paid and otherwise, available to you? Join a small business forum, like the Small Business Forum (www.smallbusinessbrief.com/forum/) where you can exchange knowledge with other small business owners. Access the millions of online articles on every business subject you can think of at ezinearticles.com.

Qualified sources are also available from your local government offices and other professional services. It is important to recognize -- what you don't know can end up costing you money and greatly reduce the chance of achieving your business goals.

With all that knowledge, you need a plan of action.

3. Action Planning

I like to call it “action planning” rather than “planning”. Action is the only element which turns a plan into reality. Many people are great at planning but they suffer when it comes to follow-through. Successful small business owners are action oriented. But that action starts with a plan.

According to leading authorities, the main reason 80% of all new businesses fail within the first five years is not money, but the lack of planning. If you want to succeed, the trick is to know how to make right the decisions by implementing an effective business plan. Remember, if you fail to plan, you might as well plan to fail.

A business plan should include how you will finance the business, who will perform certain critical business functions, the license and permits required, accounting method, as well as what you know about your prospects and customers.

4. “Mind Meld” Your Customer

Just knowing your customer isn’t enough for long-term success in your small business. In Star Trek, the Vulcan race had the ability to perform a mind meld. At the time of the mind meld, they could see, think, and feel everything their partner was seeing, thinking, and feeling. This is how close you must come to understanding your customer. The closer you get, the more successful you will become.

Are you listing to your customers? Make it your business to give your customers what they want and they will buy from you. They are the reason you are in business, and your future depends on them. The products and services you provide should be a direct reflection of their needs. Think in your customers' terms; buy, show, sell, and say things that interest them, not you. Don't forget, it is the customer that determines whether or not you succeed. They vote every day by where they spend their money.

Reflect on the following questions:

- Do you know the reasons why customers shop at your store? (service, convenience, price) If not, ask!

- Do you seek suggestions from your customers on ways you can boost business?

- Do you use a store or online questionnaire to aid you in determining your customers' needs?

- Do you stay in contact with customers on a regular basis?

- Do you ever try to re-establish a relationship with lost or inactive customers?

A key to success lies in knowing your customer. The other half of the equation is to know your industry.

5. Know Your Industry

You can gain the greatest competitive edge if you intimately understand your industry. You must know the ins and outs of your particular products and industry. You should know every competitor as well as their strengths and weaknesses. It’s in your competitor’s weaknesses where you will most frequently find your own success.

Your competitors size, services, location, marketing approach, type of customers, suppliers, and pricing strategies should be as well known to you as your own. Your local business climate, median household income, level of education, ethnic population, and the other demographics of your potential customers should be second nature to you. To prosper, you must know the game and the playing field intimately.

Many people focus upon these areas but still fail. Why? They focus more upon the product than the finances of the business.

6. Maintain Good Financial Records

If you don't know where your money is going, it will soon be gone. The "game of business" is played with products and customers, but the score is kept in dollars and cents. Good financial records are like the instrument panel on your car, they keep you posted of your speed, fuel level and engine condition. Without them you're flying blind trying to pace the other cars. If you know how much you're spending, buying and selling, you can take control and help your business make more money.

- Do you have basic accounting knowledge? Or, do you have someone you trust to keep the books?

- Do you maintain every receipt you obtain through the running of your business?

- Have you computerized your business to streamline everyday tasks and business procedures?

- Do you use sales forecasts, expense sheets, and financial statements on regular basis to assess the progress or your business?

- Do you evaluate your operating expenses and make necessary changes on a regular basis?

Many people erroneously believe good record keeping is for the government and those financial obligations. They are wrong! Good financial record keeping can help your business succeed. Use the financial information available to make improvements to the operation of the business and improve profits. Remember through it all, the old adage “cash is king” is true.

7. Manage Your Cash

It doesn't matter how unique your store is, your business can't survive without good cash flow. Cash is the lifeblood of your business. The money coming into or out of your store is the vital component that keeps your business financially healthy. For profitability, more cash must come into the business every day than goes out of the business. You can have the greatest sales in the world, but if it’s all in receivables, how will you pay your bills?

A monthly Cash Flow Statement is a critical business tool. It shows the amount of money at the start of a period and how much cash was received during the period. It identifies the various sources of incoming cash and the reasons for outgoing cash. Budget wisely. Know the sources of your monthly income and expenses. Then, you won't have to worry about running out of money. And that is a good thing.

Like any game, the game of business has rules and tools. Those who excel at the game, play it better than their competitors. Keep focused upon these seven critical areas and you will succeed. Remember, Albert Einstein once defined “insanity” as doing the same thing over and over again and expecting a different result. Isn’t it time you changed the things you are doing so you can succeed? I think the time is now!

10 Great E-Commerce Businesses You Can Start Now

If you've been thinking of starting a business on the web but you're not sure what type of business to start then this article is for you. You could be wasting valuable time trying to make your first move. There are thousands of opportunities on the web and this article is meant to show you just a few great ideas that could help you get up and running with your very own e-commerce business.

The act of running a business over the Internet offers many rewards. For one, it dramatically reduces your startup and overhead costs while simultaneously expanding your target base. You literally have a global store when you operate an e-business.

Starting a business over the web isn't free. However, the costs involved with starting these businesses don't have to deter you. You could start an e-commerce business with as little as $500, possibly even less. Putting away a few dollars each week could get you at the $500 mark in no time. So let's work from there. You can start any of the businesses I've mentioned below or you may even have some ideas of your own.

1. Clothing retailer of all types
2. Educational courses
3. Diet and fitness information and products
4. Web design templates
5. DVDs and videos of all sorts
6. Credit repair advisors
7. Data entry services
8. Web designers
9. Telephone answering service
10. Photography services, stock images

To reduce your start up costs with any of these businesses is really quite simple. It's important to set up a strict budget and stick to it. That part may sound easy but many people make the mistake of spending money without accounting for it or continuously buying advertising without a set strategy.

If you don't already have a computer, use a friend's or visit your local library or Internet cafe. You can also buy used computers for less than $200. They will be outdated but you'll still be able to log on to the Internet and create documents.

Some other suggestions on how to save money include using a web template until your business becomes more established. And remember, for your web development needs there are tons of free applications available. Check out http://sourceforge.net to get started adding more functionality to your site.

The above list is a great place to start if you're thinking of starting a business over the web. They also are affordable and relatively simple to start. If you need additional information on any of these businesses a quick search on your favorite search engine will provide you with more information than you thought possible. Good luck!

Top 10 Ways to Start a Business For Less Than $500

We've heard numerous success stories of Internet entrepreneurs like Jeff Bezos, who started Amazon.com from his garage, using cheap plywood to construct desks. There are scores of others and they never fail to make new entrepreneurs feel a little overwhelmed or dare I say, jealous. Well not every business has the moneymaking potential of some of these successful businesses but it's no reason for you not to have a profitable business of your own. After you read this article you'll never have to ask again, "I'm barely making ends meet. How can I start a business? "

Unfortunately, the bills don't stop coming in just because you've decided to start a business. In fact, they seem to increase exponentially. Your success, as budget-conscious entrepreneur, will depend on thinking and planning smart.

Below are 10 ways to start business for less than $500. You may have to make some sacrifices but that's what small business is all about, at least at first.

1. If you don't already own a computer, purchase a used or refurbished computer. With computer prices dropping everyday(new computers are starting at around $500), you can easily obtain an affordable, and fairly up-to-date computer for less than $200. If that's still more than you'd like to spend, remember you can always check out what local agencies offer free computer use. Start with your local library!
2. For a professional web site, use a template before hiring a professional. Templates can start at as little as $25 a piece. You can always hire customized design services once you grow.
3. Use business document templates to provide professional invoices, letters, and contracts that you can easily customize.
4. Submit articles like this one to various e-zines for free traffic.
5. Operating solely on the Internet is the best way to dramatically reduce startup costs. You can find affordable and feature packed hosting for less than $10 a month. And custom domain names can be registered for under $10 per year.
6. Offer your expertise on various web site forums for free self-promotion. Make sure you adhere to the submission rules of each site.
7. Submit free press releases regarding your new business on http://prweb.com
8. Starting a service business means you don't have to invest in any initial inventory!
9. Start a small pay-per-click campaign for under $200 to test your offer and bring in initial traffic.
10. If you have a retail business, make the initial orders on-demand, meaning you don't buy any inventory until someone makes the purchase. Make sure you include the added time frame when you estimate the expected delivery date for your customers.

The idea is to keep thinking creatively about how you will invest your dollars so you can avoid spending too much in any one area before your business has proven itself. You can redevelop your budget as you go along and feel relatively secure doing so. You never know, you could be the next big success story.

Tips to Starting your Own Busniess

The 9-to-5 grind can make you feel like a just another cog in the corporate machine, constantly punching the clock for someone else’s vision. One day, while dreaming of the world outside the cubicle, you have your big “Eureka!” moment—you’ve come across an idea so perfect that you need to start your own business around it.

Coming up with the idea is the easy part. Now, you’re thrown into an entrepreneurial world where even the experience businessperson can feel overwhelmed by all the details.

It’s hard to know where to even begin. So here are some tips to starting your own business:

- Craft a primitive budget: do you have enough capital to get this idea rolling? First things first, figure out roughly how much it’ll cost you including all expenses, and where that money will be coming from. Call in favors from everyone you’ve even leant money to in the past in need be.

- Does the business world need you?: is there a large enough demand for your product? Ask around before even attempting to start your business—check with similar businesses in the area, or around the country. Find out how they started, and what kinds of clients they target, to get an idea of where you’ll fit in the market.

- Create a strong management team: your team members should share your vision of the business, and a certain amount of proficiency and credibility. Rely on your connections to find the perfect people for the jobs that will bring their expertise to the business. Remember that you will eventually have to set aside your ego and let them control certain aspects of the company, so your have to feel comfortable around your management team.

- Start small: instead of immediately trying to market your product to 5,000 companies at once, focus on a few dozen specialized local companies to network with. This way you can call them each personally, mail them your marketing materials, and then arrange a meeting.

- Quality matters: you want to be able to set your self apart from all the other businesses similar to yours. Having an eye-catching yet simple to navigate web site and presentation material is key to succeeding in the modern business world. Creating quality marketing tools doesn’t have to cost you a fortune either; consider hiring a design art or marketing student from a nearby university to help out. You never know, you could even meet your next Junior Executive.

- Come up with a good business plan: keep it less than 25 pages, and include information about your management team, who your customers as, and most importantly, why the world needs your business. At this stage in the game, don’t over-focus on the financial side of things yet. A business plan outline can be found at http://www.sba.gov/starting_business/planning/basic.html.

7 Tips to Real Estate Agents' Success

With over 2 million real estate agents according to the National Association of Realtors (NAR), becoming a successful real estate agent takes more than just a license and a knowledge of current laws and regulations.The first year drop out range estimated to be from 40% to 80% demonstrates that many real estate agents are not as successful as they could be and research suggests that 90% give up after 3 years. The following 7 tips may help you avoid becoming one of these statistics.

1. First and Foremost YOU are a business. Real estate agents work for a broker, but are independent, commissioned sales people. This means that you are a small business and must run your practice as a business. Again, remember you are a small business owner.
2. Embrace a Planning Attitude If you don’t have a plan, then you are on some else’s plan – usually the successful real estate agent's. During the last 10 years, what I have learned as a performance improvement consultant or coach is that most people place more value in planning a trip to the grocery store or a vacation than planning their lives either professionally or personally.
3. Research Your Market Plan Since you, as the real estate agent, are responsible for your own expenses, do your research specific to your marketing plan within your strategic plan. Time spent in constructing your marketing plan is definitely well spent. NOTE: Remember a business plan usually is data driven, while a strategic plan identifies who does what by when.
4. Establish Sales Goals Using your strategic plan, establish sales goals. If you are new to this industry, it may take 6 months before the first sale. HINT: Use the W.H.Y. S.M.A.R.T. criteria for goal setting.
5. Create a Financial Budget Budgeting is critical given the up and down of this volatile market place. Your financial budget should plan for your marketing costs, any additional costs such as education and your forecasted income.
6. Make Managing Yourself a Priority Building a business is not easy. You must learn how to manage yourself especially in the area of time management, ongoing real estate training (continuing education units) and personal life balance. Real estate is said to be a 24/7 business much like any small business. However, it is important not to lose sight of your personal life including family, friends, physical health, etc.
7. Find a Mentor or a Real Estate Coach Going it alone is not easy. Take the time to find a mentor who can help you steer through some of the known obstacles and help you during the “peaks and valleys.” If you have the resources, you may wish to hire a real estate coach or an executive coach who specializes in small business help and sales.

Being an incredible sales person and entering the real estate market does not guarantee similar sales success. However, these 7 tips may help you avoid many of the pitfalls by not being one of the four real estate agents who quit within one year or one of the nine who give up after 3 years.

7 Online Banking Success Stories

You have seen their ads and you may have wondered if they are worth a second look. What am I talking about? Online banks! Also known as internet banks, these are financial institutions who provide the majority of their banking services over the internet. Typically, online banks offer consumers high savings rates, low loan rates, and a mix of other services. Let's look at 7 winners in this fast growing field:

1. E Trade Bank Part of E Trade Financial, the discount internet stockbroker. E Trade Bank offers checking accounts, money markets, and certificates of deposits as well as a VISA credit card.

2. Netbank Along with offering checking and money market accounts, Netbank provides mortgage and home equity lines of credit to customers. With tie-ins to affiliated companies Netbank also offers Auto, Homeowners, Condo/Co-op & Renters Insurance and Life, Health, Long Term Care & Dental Insurance.

3. Virtual Bank VirtualBank, a division of Lydian Private Bank, is a federally chartered bank regulated by the Office of Thrift Supervision. The bank offers checking, savings, and credit card services to customers.

4. Ever Bank This leading internet provider of banking services offers the most extensive, and varied services of any online institution. Ever Bank offers business and personal checking accounts, mortgages, home equity loans/lines of credit, reverse mortgages, a VISA credit card, and world currency accounts. This latter category is for investing in Deposit accounts and CDs denominated in any major world currency.

5. Emigrant Direct Part of Emigrant Savings Bank which traces its roots back to 1850 as a service provider to Irish immigrants. Emigrant has $10 billion in assets and more than $1 billion in net worth. It operates as a full service bank through 36 branches in the New York metropolitan area, and through EmigrantDirect.com. Emigrant offers only consumer services online; their high paying savings account is a chief investment vehicle.

6. ING Direct ING is a global financial institution of Dutch origin offering banking, insurance and asset management to over 60 million private, corporate and institutional clients in more than 50 countries. ING offers mortgages, loans/lines of credit, savings accounts, certificates of deposit, and money market mutual funds through another division.

7. MetLife Bank Yes, MetLife. A division of insurance powerhouse Metropolitan Life, MetLife Bank offers savings accounts, certificates of deposit, money market accounts, mortgages, and IRAs to consumers.

If you are banking exclusively with a "brick and mortar" institution you may be missing out on high paying investment options or competitive loan rates that easily undercut many traditional banking entities. These online banking success stories are only part of a growing number of savvy providers, some of whom are definitely worth a closer look by you, the consumer.

Ten Tips for Cross Cultural Communication

Here are some simple tips to help you improve your cross cultural communication skills:

Slow Down

Even when English is the common language in a cross cultural situation, this does not mean you should speak at normal speed. Slow down, speak clearly and ensure your pronunciation is intelligible.

Separate Questions

Try not to ask double questions such as, “Do you want to carry on or shall we stop here?” In a cross cultural situation only the first or second question may have been comprehended. Let your listener answer one question at a time.

Avoid Negative Questions

Many cross cultural communication misunderstandings have been caused by the use of negative questions and answers. In English we answer ‘yes’ if the answer is affirmative and ‘no’ if it is negative. In other cultures a ‘yes’ or ‘no’ may only be indicating whether the questioner is right or wrong. For example, the response to “Are you not coming?” may be ‘yes’, meaning ‘Yes, I am not coming.’

Take Turns

Cross cultural communication is enhanced through taking turns to talk, making a point and then listening to the response.

Write it Down

If you are unsure whether something has been understood write it down and check. This can be useful when using large figures. For example, a billion in the USA is 1,000,000,000,000 while in the UK it is 1,000,000,000.

Be Supportive

Effective cross cultural communication is in essence about being comfortable. Giving encouragement to those with weak English gives them confidence, support and a trust in you.

Check Meanings

When communicating across cultures never assume the other party has understood. Be an active listener. Summarise what has been said in order to verify it. This is a very effective way of ensuring accurate cross cultural communication has taken place.

Avoid Slang

Even the most well educated foreigner will not have a complete knowledge of slang, idioms and sayings. The danger is that the words will be understood but the meaning missed.

Watch the humour

In many cultures business is taken very seriously. Professionalism and protocol are constantly observed. Many cultures will not appreciate the use of humour and jokes in the business context. When using humour think whether it will be understood in the other culture. For example, British sarcasm usually has a negative effect abroad.

Maintain Etiquette

Many cultures have certain etiquette when communicating. It is always a good idea to undertake some cross cultural awareness training or at least do some research on the target culture.

Cross cultural communication is about dealing with people from other cultures in a way that minimises misunderstandings and maximises your potential to create strong cross cultural relationships. The above tips should be seen as a starting point to greater cross cultural awareness.

Ten Top Performance Management Tips

1. Talk to Your People Often
   By building a great relationship with your people you will bring trust, honesty and information. This gives you a head start in Performance Management of your people.
2. Build Feedback In
   On the job two-way feedback processes gets rid of the nasty surprises that gives Performance Management such a bad name. By building it in as a natural activity, you take the edge away.
3. Be Honest
   By being frank and honest, which the preparation work in building a great relationship has afforded you, both parties treat each other with respect and see each other as working for everyone’s benefit.
4. Notice Great Performance
   When you see good stuff, shout about it! Let people know. Celebrate successes and filter this into formal processes.
5. Have a System
   Performance Management is a process and needs some formality - especially for good personnel practice and record. This need not be complicated, but it needs to be organised and have timescales.
6. Keep it Simple
   But do keep it simple. If you have a relationship with your people that is strong anyway, you already know what they are about. Formal discussions can be friendly and simple, with formality kept to a minimum.
7. Be Very Positive
   Celebrate great performance! Focus on what’s going well. It's about successes and building on strengths, not spending ages on their weaknesses - that serves no-one. Go with the positives!
8. Achieve Their Needs
   Remember that we all have needs that we want fulfilling. By working with your people to create outcomes that will do this, you will strengthen your relationships and channel effort in a constructive direction.
9. Tackle Discipline
   Whilst it often happens, Performance Management is not about managing indiscipline. That has to be managed in a different way. By setting clear standards in your business that everyone understands and signs up to, discipline becomes much, much easier.
10. Learn from Mistakes
    As part of regular on-the-job and informal review, mistakes will come to light; things will go wrong. By using the ‘What went well? And ‘What could you do differently?’ format, the unsatisfactory performance becomes controllable and a positive step.

    Try these ten out, maybe not all together, but one at a time. Have fun! There are other benefits apart from just improving the performance of your people - can you spot them?