Simple Ideas for a Trial Membership Business

Do you sell a monthly membership? If not, you might want to consider it.

3 reasons why:

1: Monthly memberships mean residual income. You sell a membership once and you get paid for it month after month until the person cancels.

2: Selling a membership generally is not any harder than selling a one-time product, yet you get paid a whole lot more for the same effort.

3: If you offer a trial membership, it's even easier to get new subscribers. In fact, it can be easier than selling a regular one time product. Yet you can make a LOT more, as this case study will show.

Michael Hyatt has a membership site called Platform University. Twice a year he opens the site up for enrollment. Of course, you can take new enrollees into your membership site as often as you choose, but Michael likes to do it just twice a year – probably because it looks more exclusive that way.

Membership costs $ 37 a month.

But when his recent launch ended, he decided to offer a $ 1.99 trial membership to anyone who did not take the full $ 37 a month membership.

So after the one week trial period ended, he sent out an email to everyone who did not become a member.

In the email he offered a 7 day trial for $ 1.99, but the catch was they only had 24 hours to grab it.

That email went out to 40,000 people. 819 signed up for the trial offer.

(If you're going to do the math to see how much 819 times $ 1.99 is, you're going to miss the point. But it's $ 1629)

Of those 819 people, 292 canceled the membership before it rolled into the $ 37 a month auto payment.

That sounds bad, does not it?

It's not. Because that means 527 new members paid their first $ 37 a month.

At $ 37 a month, that's an additional $ 19,499 of monthly recurring income that Michael never would have had if for the trial membership.

And things get even crazier, because the average member stays for 17.3 months, which is a lifetime value of $ 640.10 per member.

Which is to say, that $ 1.99 trial offer asserted in over $ 300,000 in revenue.

Wow.

Really, it makes you wonder why he does not just offer the trial membership.

But here's the thing: By spending a week or even two weeks selling the membership at full price, he really builds the value.

So when he does offer the one week trial for just $ 1.99, it's such a no-brainer that people sign up in droves.

The campaign to get new $ 37 members is really a campaign to show people how valuable the membership is, and set it up so that the $ 1.99 is simply too good to pass up.

If he had just offered the $ 1.99 membership, he would not have properly established the value of the membership, and I do not 'think his results would have been as good.

And all of this is not even counting the members he did sign up during that week long campaign at $ 37 a month each.

So how can you use this in your own membership?

First, you want to provide plenty of value inside your membership so that new members stay for a long time.

Find out exactly what members want and give it to them. Have a place inside your membership where members can actually request new features be added to the membership

Next, really establish the value to prospects. Use lots of testimonials to show how your membership helps members to achieve their goals. You want to build the value so high that cost of membership seems low by comparison.

Lastly, offer your trial membership for only a day or two before closing it. This gets people off the fence and grabbing the trial before it's too late. You can always open the trial back up again in a month or two, as you see fit.

Finally, track your numbers. See how many people sign up at the regular rate, how many sign up for the trial, and how many convert from the trial to the regular paid membership

And of course keep track of how long members stay. Find ways to get them to stick around longer and you will exponentially increase your monthly income for even bigger paydays.

One more thing – imagine working your tail off to get your membership up and running. You might invest, say, two months into finding out exactly what people want, setting up the membership and filling it with content, software, etc.

Then imagine four months beyond that – you've got hundreds or even thousands of members with more joining. You're making residual money on people who joined months ago. In fact, every month your income increases. You invest part of that money to continue to provide the content, software or services that members get, and the rest is yours.

And life is sweet.

Seriously, if you have not started a membership site of your own yet, what are you waiting for?

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How to Care for Carpets With Sustainable Fibers

Many people around the world are looking for sustainable ways to live. You may have customers that are looking for eco-friendly carpet cleaning methods and may have even gone out of their way way to purchase carpets with sustainable fibers. This trend is starting to grow, so it's important for you to learn how to care for them the right way. Like with traditional fibers, you can use portable carpet cleaning machine such as truck mounted machines and commercial carpet steam cleaners.

What Are Sustainable Fibers?

What makes sustainable fibers different is their reaction to water and certain chemicals. As a carpet cleaning professional, you have to learn the proper cleaning and maintenance techniques to keep these fibers in good condition. It's equally important to understand which type of treatments can harm the fibers, so you can avoid them at all costs.

Sustainable fibers are made from natural resources, such as plant fibers, wool and a variety of other materials that are ecologically focused. You can find these being used in both commercial and residential properties. If you come across a customer with a wool carpet, you can use the following tips to care for it the right way.

Clean Wool Fibers Properly

According to the Carpet and Rug Institute, many people go with the wool carpets because they are pretty durable and have beautiful resilience. You'll find that wool actually outlives carpets made with synthetic fibers. You may come across a few wool floors that have been in a property longer than the tenant has.

Wool ages with grace and when done properly, cleans very well. Folks with wool carpets benefit from the carpet trapping in dust and other allergens, which helps to improve the indoor air quality. The downside is the cost for these carpets, which can be very expensive. But when a carpet can last many years, who would not want to invest in one? This is one of the reasons why you'll usually find wool carpets in commercial spaces, like hotels and boardrooms.

Hot water extraction is not a method you want to use on wool carpets because it can cause mal odors. Keep this in mind if you're going to use a truck mounted carpet cleaning machine. You can use cooler temperatures to prevent the dog-like smell. Wool is not fragile, so you do not have to worry about breaking it apart.

If you're looking to buy the proper truck mounted carpet cleaning machine and other cleaning equipment and supplies, make sure to shop online for the best deals around.

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Planting Seeds for Sustained Success: How To Think Strategically

Melissa's mind races, all day long. She's a small business owner, and between that and her family demands, she jumps from decision to decision quickly. It's often a whack-a-mole situation, where she gets one thing deal with and quickly moves on to the next.

That feels good to Melissa, most of the time. She has a sense of movement, of getting stuff done. She is a do-er! A woman of action. Think Wonder Woman with those cool bracelets.

Though things move quickly in Wonder Woman's … err, Melissa's world, she sometimes gets tripped up by her fast thinking.

While momentum and movement are important in business, some decisions simply require you to slow down and think more strategically.

For things like hiring, pricing, or eliminating your ideal audience, where the consequences of a bad decision are significant, slow thinking is required.

To help slow down your thinking when it's an important issue, use this highly evolved tool: pen and paper. There's something that happens in our brains when you write instead of using the computer. You have a closer connection to what you're writing down, and you are also forced to think at the speed of your writing. It slows down that rapid stream of consciousness, like Melissa's. Write down all the details of your issue.

Give yourself time to think things over and get the necessary information.

For those of us who are not Wonder Women (or Superman), we tend to seek information that agreements with what we've already decided to believe. So do your own fake news filtering and ask yourself, “How do I know this is true?” before accepting information as the basis for a decision. It's a big value-added step.

Put on the brakes when you need time. “Let me think about it and I'll get back to you” is a very useful response.

If it's a client and you want to send the message that they are important and that you're not just floating in a pool drinking umbrella drinks while they're waiting, you can elaborate with a little more detail, like: “I need to do some research “or” I'll check in with my colleagues so I can give you a decision that will help you best “.

To get the most out of your decision time, practice solitude without distractions. There's something about water and nature that fundamentally liberates our thinking. Set aside time for solitude each day, if you can.

Another benefit of this slow-down is that you can think strategically. Strategy is the big-picture view. When I'm working with clients, I often start by distilling strategy into just two questions:

1. How do you want to be perceived? This question is about brand alignment and how you're projecting your values.

2. How do you want to contribute? This question is about what you choose to offer and where you can offer the best value. It's also about impact: what kind of positive contribution do you want to make?

These two questions will put you firmly on the path of thinking strategically about your business.

Successful people have developed a habit of slow thinking. They do it because the temporary discomfort of slowing down is subordinate to the impact that they could have.

Like Melissa, you can develop this habit too! Cultivate the ability to slow down and think strategically. It plants valuable seeds that you can harvest for abundance in future.

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Roll Up Banner and Its Benefits

If you are a business owner who often goes on trips to promote your services and products at conferences, exhibitions, and trade shows, then you might enjoy the satisfaction of using these banner stands at your next promotional event. You can use these types of banners at craft fairs, exhibitions, and events. This is because, these can give you a professional touch to the display that clearly and successfully promotes your services, goods, and brand message to the target audience.

If you have traveled to trade show or a fair, then you might know how tough it might be to set up your stand and make a professional and convenient unit that is priced moderately as well. Many small businesses work with certain estimates and therefore may not be able to afford for expensive booths which are custom-made and delivered by the exhibition supply companies. However, instead of struggling by packing your stand onto a transportation mode, you can simply carry these with you as you walk to the exhibition hall. And once you get there, you can easily and quickly assemble it and place it on the display in a right professional manner for the target customer.

Roll up banners are made from a very lightweight material, cost-effective and can also convey the brand message in a professional and skilled manner. These placards are also custom printed and available in various styles like pop-ups, pull ups, retractable placard displays which are intended for traveling exhibitors to use. They measure 800 mm x 2050 mm in width and height and it is designed to enable it to roll into an aluminum housing which works as a base of the stand. Normally they weigh five kilograms less and they are highly portable and easy to transport from place to another.

Most these come with an optional carrying case that has a handle and shoulder strap to enable you to carry them around easily when you need them. These are great value for money because of the accurate amount, you can get your basic stand which includes a fabric bag and graphics. The fact that these are durable, portable and available in various sizes to fit your promotional requirement makes worth the bucks.

In recent times, these are developed with more advanced technologies to make sure that these promotional tools are custom-made completely to find your specific requirements. You can also model the base of these in various ways to complement your graphics. Environmentally conscious business people can also use the eco- friendly solutions like a pine and bamboo stands for these banners. With a good roll up banner, you can benefit most out of your event as you get to target on effective ways to toss your services and products to the target clients that visit your stand. These are just a few benefits of them. Talk to a provider to find out more about the advantages of using the right material a the graphics to be included.

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How To Start A Concrete Polishing Business

Be it for floors or foundations, countertops or patios, the importance of cement can not be under. This has become such an integral part of our homes and commercial buildings that people are now even growing increasingly interested in cement furniture. It is not incorrect to say that concrete will always be needed. There will also always be a need to keep it polished and looking its best. Since concrete has become so essential for our homes and structures, many new concrete polishing businesses are making their way into the market.

If you, too, are interested in starting a business, read on to find out what you should keep in mind. Research is critical As with every business, the role of research can not be undermined when you are trying to become an entrepreneur with your very own polishing company. It is imperative to learn all about installing and polishing before you step into the market. For your own concrete polishing business, it is also extremely necessary for you to know the ins and outs of staining and grinding since these processes are related to this in many ways.

Research is critical

Next, you should know which equipment and machines are necessary. Since decorative concrete gives the best results when polished and installed fresh, it is important for you to know which methods exist in the industry. Before you start your own concrete polishing business, you should have a clear picture about polishing and decorating existing concrete flooring and installing new flooring from scratch. The decorative process, too, must be studied at length before you start your own business.

Licensing

Once you have done an adequate amount of research on the processes involved in cement decoration and polished cement, it is essential for you to know the rules and regulations of your area before you start your own business. It is very likely that you may require licensing before you start your business. Whenever people need concrete to be polished, they often look for a contractor who is not only licensed and experienced but also bonded. This is important since installation is a complicated process.

A bonded contractor will not only ensure that the task is completed, but clients will not even have to worry about any damages caused due to negligence since they will be covered by the business. Insurance, too, is necessary since your clients will be at ease that they will be provided with quality services without any damages.

Equipment

When starting this business, having the right equipment is critical. This equipment includes machinery to collect concrete dust, an upright concrete polisher, and even a handheld polisher for surfaces which are small. Additionally, it is always a good idea to have epoxy and stains in supply when you start your own concrete business.

Advertising

Once you have all of the knowledge and equipment to set up your concrete polishing business, advertising is what you will need to focus on. In addition to online advertising on forums and through websites and blogs, it is important to use your store front to your advantage. Advertising in local newspapers and on local television channels is also a great way to get your business known by people. It is also extremely important to keep in touch with professionals of the industry since they will be able to help you a great deal due to their experience.

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Three Reasons Your Business Isn’t Growing As Quickly As You’d Like

I love nature. I loved studying Biology at school. There's something elegant about much of it. It's not all elegant though, some aspects of it are dysfunctional. But that's the essential quality of a work in progress – it's never perfect. So it is that I think we can learn a lot from nature about business, particularly some of the weirder ways that nature goes about the basic processes of survival, growing, evolving, reproducing and dying.

For example, have you heard of auto-cannibalism? This is where an animal eats part of itself. It's well documented, for example, that snakes sometimes mistake their own tails as other snakes and start to eat themselves. Or they start eating their own shed skin and because because of the scent of prey on it, they get carried away.

Do not Be Like the Snake

As a business owner, does running your business sometimes feel like this. You're running around so fast it feels like you're chasing your tail. Suppliers need paying, employees have constant questions, customers want to deal directly with you rather than your staff and there's never enough enough time to do all that admin that's piling up, let alone do “strategy” or planning!

At some point all businesses reach a plateau in their growth because of this. The ones that breakthrough break the vicious cycle by getting their employees do most of the heavy lifting with customers and suppliers leaving the directors free to develop and implement growth strategies. Getting started can be as simple as having a consistent delivery and distribution system in place.

Instead Emulate the Sea Squirt

A more elegant form of auto-cannibalism (yes, elegant cannibalism!) Occurs during metamorphosis. The sea squirt for example consumes its own brain. In the larval stage it swims around filtering food and it needs a rudimentary brain to move around and sense its environment. At the end of the larval stage it attaches itself to a surface and never moves again. It consumes its nervous system and re-purposes the brain sac to help it feed. If the larval sea squirt did not consume part of itself it would not mature and would not be able to reproduce.

What part of your business do you no longer need? Is it stopping you moving to the next stage in your business cycle. It's not unusual, for example, for businesses to continue offering products and services to customers well beyond their profitable or strategic life.

There can even be an emotional attachment to these services, particularly for people who started their business because they were good at something. For example, starting a web design business because you're good at building web sites is great. But it can be difficult to scale a business if you're spending all your time building websites. The strategic thing to do may be to switch to website maintenance. It might not be as sexy to deal with hacking threats, platform updates and shifting security trends, but there is long-term value in building a business around this rather than one-off website building. Continuing to supply websites could stop the business from offering maintenance programs just from sheer lack of time.

Changing technology might signal a need for auto-cannibalism in business too. Accountancy, for example, has been transformed recently by the rapid adoption of cloud accounting software. Those practices that embrace the move to cloud accounting are having to re-purpose their people, consuming the technical accounting departments and creating departments to offer other services, such as business advice.

Escaping A Trap

Finally, some animals will chew off a limb to escape a trap. It's not really auto-cannibalism because they do not eat the limb, but close enough … Do you need to chew off part of your business to escape a trap? Maybe a supplier who will not give you credit? A customer who will not pay on time, an employee who is disengaged, or maybe a whole department that is not performing or that has been left behind by the competition? Maybe it's time to take the 72 hours of pain involved in making and announcing the decision you know you should take but are avoiding. Bite off the trapped limb – your business will grow faster after because you'll be able to focus your efforts on more productive parts of your business.

Pareto's principals states that 80% of your results come from 20% of your effort, 80% of profits from 20% of your products, 20% of your customers or 20% of your employees, 80% of problems stem from a different 20% of products, employees and customers. Ditch the 20% of problem customers, products and employees and focus on the rest.

In Conclusion

In summary, your business may be failing to thrive or move to the next level of growth because you're eating your own tail or because there are parts of the business you should be cannibalising that you're not or there are parts of the business trapping you in the present that you need to bite off in order to move to the future …

Auto-cannibalism is a natural process in the life-cycle of growing organisms (and organizations) but do not be a snake, be a sea squirt!

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How to Avoid the Number One Self Employment Trap

Experience is the best teacher … quite cliche you may be thinking, but oh sooooo true. Many have ventured (as myself) into the realm of self-employment with grandiose plans to conquer the market and make a windfall of cash. Not to say these objectives are far-fetched, but there's a lot that goes on between the time you begin and the time you potentially reach these goals. I would like to share and hopefully use with the Number One Reason for Self-Employment Failure. Before exposing this truth and giving some points of practical prevention, let's discuss briefly why people choose to go into self-employment.

Why Self-Employment?
Things that make you go hummmmm … what a great song from the 90s and a great explanation for the reason why people choose to be self-employed. I'm sure that I could verify this with either SBA data or some other small business think tank stats, but just from working with small business owners and aspiring entrepreneurs over the past ten years, many just wanted to be their own boss. Prior to jumping into self-employment myself, I'm saying, yeah, that's a darn good reason to be self-employed. However, after experiencing operating and maintaining a small business, I'm now a little skiddish to quote the great Riddick. I've discovered that being your own boss can be 10X as hard as working for a taskmaster of a boss because unless you're a naturally disciplined person with great organizational skills, the small business operator road can be TOUGH. In addition to dealing with yourself, you also have to do numerous jobs with at least a minimum level of quality just to hold things together. I hear some readers out there thinking that the Internet and the various forms of technological innovation makes things easier … not so much. Yeah, maybe increasing productivity and efficiency, but hey, work is work no matter the platform you do it on. Now, let's talk about the Number One Reason for Self-Employment Failure.

Self-Employment Failure Numero Uno
Lack of understanding the basic business contract. Yep, shocking, is not it? Let me explain. When most people decide and ever start a small business or become self-employed, they are focused on making a widget and / or providing a service to a hungry market that's willing to pay $$$. No doubt, I agree, it's tempting to fall head over heels in love with the $$$ before considering the costs of doing business. Yes, my friends, there's a cost to each and every business transaction along with the rules that govern them. Why do you think that most business deals among family members without the use of a contract typically falls apart and creates division?

The primary weapon that a person has in being self-employed is the business contract and for good reason. Prior to consummating a business transaction, there must be a mutual understanding between the vendor and customer / client. One of the most important clauses (geez, I'm starting to sound like an attorney) in a business contract is the scope of services explanation because in this part you let the client know what you will and will not do in exchange for the $$$. Trust me, without this clause, you are setting yourself up for a rude awakening and maybe even failure. There needs to be a clear understanding of not only what you will and will not do, but also the term of the business transaction. In other words, you need clarity of the frequency and length of time of providing the widgets and / or services as the business owner.

Here's a lasting bit of advice about gaining understanding of the fundamentals of the business contract: Never shy away from walking away from the transaction if the terms are not favorable to you and your business. I know … it's hard to turn down $$$ especially when there's a need for it. Again, trust me on this. All $$$ is not good money and plus there's more opportunity to gain business than you know.

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3 Levels of Carpet Cleaning Every Pro Should Know

What type of routine do you have in place for your carpet cleaning customers? Sure, there should be a customized plan for your different clients, but all of them will have similar methods included. There are certain aspects that should be implemented in every cleaning program you conjure up. You can use whatever type of equipment you deem necessary, whether it's a truck mount or portable carpet cleaning machine.

A good carpet plan should consist of daily and long-term cleaning. This should include vacuuming all high traffic areas as needed. The idea of ​​a carpet care routine is to reduce soiling and to increase the longevity of the carpets in a property. This routine can be used wherever you have residential or commercial customers, or a combination of both.

There are three different levels of carpet cleaning, which are as followings.

Level One

The first level of your carpet cleaning plan should be routine cleaning. This consists of cleaning habits that should be performed daily, weekly or more regularly. This is especially important for vacuuming. The areas that need to be vacuumed consistly include:

  • Entry foyers
  • Reception areas
  • Corridors and common areas
  • Elevator cabs and lobbies

The areas that do not require much vacuuming include:

  • Private offices
  • Meeting rooms
  • Board rooms

Level Two

Interim cleaning is the second level and is highly necessary for maintaining the integrity and beauty of a carpet. This is a light clean that is done in between deep cleanings using a truck mounted carpet cleaning machine. You can use a portable carpet cleaning machine for this purpose. This is ideal for offering a quality clean without much down time for drying. The areas of focus include those that are the most exposed and prone to soiling.

Level Three

Once or twice per year, deep cleaning should take place. The methods used should clean the carpets all the way down to the padding. The frequency of these cleanings will be determined by where the carpet is located, how effective the carpet care routine is and the intensity of traffic. You can also simply read the manufacturer's maintenance instructions. It's best to perform deep cleaning before heavy soiling takes place. You can use a portable carpet cleaning machine for the job or one that is truck mounted. Let your customers know that they should schedule this well before soothing becomes visible.

You can browse online cleaning equipment sites to find quality portable carpet cleaning machines and commercial carpet steam cleaners.

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Why Siemens Actuators and Valves Are Ideal for Your HVAC Systems

Siemens is a German conglomerate, worldwide recognized for their innovation, precision equipment and superior service. Their company needs no introduction as they have excelled in every department, they have forayed into. Siemens offers a wide range of actuators and valves along with auxiliaries which surpass expectation in terms of longevity and ease of replacement. They have a diverse range of products, this article discusses in brief the various offerings Siemens has in terms of actuators and valves. A bunch of them are listed below along with their applications:

Siemens Automation components: Being the world leader in terms of development, manufacturing and marketing of automation components, they are no doubt ideal replacements or as new installations of components. The components are of superior quality and offer a wide range of applications. The automation components offered by Siemens consist of temperature sensors, switching relay, retro-stat kit, gauges, filter element, room sensor, duct temperature sensor and line reactors.

Pneumatic Valve actuators: The pneumatic valve actuators are ideal for use in liquid, steam and glycol applications. When paired with Siemens actuators, valves and supporting auxiliaries, they enhance the quality of actuators.

Damper actuators and supporting accessories: Damper actuators are the ones that regulate the opening and closing of dampers. Siemens offers an electronic as well as a pneumatic range of damper actuators which offer fast, reliable operation and efficient power consumption.

Electric Valve actuators: These electric valve actuators are suitable for use in a variety of HVAC applications and offer ideal automation building solutions. The variants include hydraulic and mechanically operated actuators.

Power Meters: Power meters offer accurate data coupled with a beautiful LED display and they come with different ampere ratings.

Thermostat: Siemens offer commercial thermostats which regulate the temperature of a room. They offer a simplified display for various settings, also this display couples sophistication along with purpose.

Control Valves: It offers a high control accuracy and efficiency to decrease energy consumption and efficient operation. With a great range of products that offer reliable and economic valves which serve a wide range of applications.

Valve-actuator assembly: Siemens valve actuator assemblies are designed for valves and actuators offered by Siemens which have a wide range of applications. The valve actuator assembly increases the longevity and decreases considering the replacement needs. They come in different variants such as Ball valve assembly, butterfly valve assembly, globe valve assembly, PICV assembly and zone valve assembly.

Siemens with their diversified product range and the brand value are unduly absent the market leaders in actuators and valves. But, it is their products and their precision engineering that they inculcate that ensures customer loyalty since their inception. Thus, Siemens actuators are the best choice for HVAC applications.

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Why Documenting Business Processes Are Important

I think there are two topics that make anyone cringe. The first is taxes (shudder), and the second is structure and by structure I mean establishing documents that detail the processes we use to do what we do.

Crazy fun (ick)!

But crazy essential.

Documenting the processes that keep your business running accomplishes several goals:

  1. It's a basis for training new team members
  2. It can be a way to review the steps, since creating timelines and assigning tasks, that make up your individual business goals
  3. It identifies opportunities for delegation
  4. It allows you to step away from aspects of the business (think vacation, or just an afternoon off), and get out of the weeds

Let me share a story of a client of ours, who provided business coaching to groups, globally. Each group event was targeted towards C-level executives, and there was a high expectation of perfectionism.

We knew that based on the marketing initiatives in play, that business was going to grow. For each coaching engagement we knew the following tasks needed to be completed:

  • That travel arrangements had to be made
  • Onsite arrangements (space logistics) had to be tended to
  • A Statement of Work (including an invoice) needed to be initiated
  • A coaching package (handouts) had to be created

We devised a system where an email would go out to the team with the dates and locations of the coaching engagements, including a checklist of the items that needed to be in the package. We had one team member that would own the travel arrangements, another handling contracting, and another that created the package, etc. Each team member worked within their relative strengths.

The checklist for the package was key. What we helped this coach did was create a listing of the different documents he used previously, and he could just check off which ones he wanted again, with a spot for comments for changes. We were then able to pull these templates and compile them in one document.

We all had a shared calendar, we knew who was doing what, and because many of the documents were templates (also stored online), there were no concerns if one team member was unavailable.

It becomes seamless. Yes, there were bumps in the road as processes were refined, we accepted that this would be part of it.

Our client was thrilled because he knew who was doing what, he had confidence in the process and confidence in us.

His clients experienced the professionalismism they expected.

Processes work. And they work much better when everyone knows what they are, their role within them, and how each step connects to the whole.

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How ERP Systems Are Transforming the Course of Small Businesses

Gone are the days when small businesses need to cope with multiple barriers to growth. Advent of the Internet has come with a range of things for smaller and mid-scale enterprises. With the rise of Cloud Integration technology, these enterprises will gain more potential to compete with the giant business players. One of the most productive investments in modern businesses is developing a customized ERP system. However, smaller enterprises often face a dilemma about its utility in improving their operations.

With more streamlined business operations, rapid performance tracking, smarter market insights and improved operational efficiency, ERP solutions have become the new ace for companies irrespective of its size. Thus, it is important to have a well-integrated and customized ERP for small business and big enterprises.

How an ERP can fetch Growth for Small Businesses

  • Increased Productivity : With improved tracking and transparency of your business process, your staff will get more time to focus on increasing the business volumes. This will further assist in transforming the various areas of your business and gain more momentum towards business growth.
  • Greater Transparency : With an efficient system, your business will not need any specific information system for all the departments. This software helps you to share and access all relevant data processed across all the business departments. This, in turn, eliminates need of export data thereby, resulting in increased productivity and lower expenditure on human resource.
  • Decision-making : Real-time data offered by a system is highly beneficial for management, accounting, marketing, thenby enabling the company to make decisions sooner and better. The management can detect any type of potential issues or obstacles which, will further help in monitoring the productivity levels. Having a comprehensive picture of all the operations will help in understanding various areas of the business and meet higher growth.

What is the Perfect Choice of ERP for your Business

Different businesses will have different needs and infrastructure and thus, not a one-size-fits-all system can cater different purposes. Being an aspiring entrepreneur, you must focus on developing a cost-effective solution that meets your needs and is easily manageable as well. Ideally, some of the essential features of an efficient ERP solution are easy-to-use, customized, highly scalable, secure, cloud compatible and adaptive.

Adhering the aforesaid, it has not only become essential to invest in ERP for small business but, also specify the desirable features and make sure that the product is business-specific. However, it is important to remember that even the most powerful ERP system might not work for your business, because of inefficiency in maintaining and monitoring it properly. Thus, make sure that the software's functionality is known to your staff and they can make the most of your critical investment.

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There Is a Time and Place for Everything in a Small Business Including Overtime Pay

While there are many challenges facing small business owners and operators each and every day, typically when I ask them what challenges seem to rank near or at the top of their list, they usually report that not finishing projects on time or delivering products and services to customers on time are the most frustrating.

It is easy to understand why. When a delivery to a customer is late, then payment for the product or products will usually be late. When a project or delivery is not completed on time, not only is payment delayed, but usually costs will exceed the original quoted amount.

Additional costs past the completion due date of the project are typically the responsibility of the provider, not the customer. When that occurs, the projected profit of the product or delivery is minimized.

Of course some things that cause delays can not be controlled. Those things include the usual stuff including weather and traffic.

On the other hand, many delaying consequences can be controlled beneficially. Those things include the minimizing if not eliminating the number of absentee and late arriving workers.

The absence or shortage of materials at the job site that are necessary for timely delivery are among the other job site issues that can and must be remedied.

It is really not that difficult to correct these productivity shortcomings. Home office and on-site Managers need to communicate and work together to assure products, tools, manpower and construction documents are in the right place and the right persons.

Another productivity shortcoming occurs when the crew from a completed project is sent to a new project site. While making this transfer would seem to be routine, many small business contractors state that crews find reasons to delay the transfer.

Why you ask? The answer is simple. If the crew is offered only a half day (four hours) to end a project, then they can easily turn that half day into a full day (eight hours) pay because the crew will always find reasons to justify a full day's work.

Having done that, then the crew will find reason to work another day on the near completed project to insure all things are complete and working as designed.

What I recommend to business owners and general managers needs to do when that kind or similar scenario occurs.

When the timely and proper finish of a project or delivery of products is the issue or challenge, then Overtime should be implemented and emphased as a Strategic Tactic, not as a Personal Reward or Benefit.

When approving and implementing Overtime for a few as a Strategic Tactic to get the job done or complete the delivery on time for the customer, the results benefit the good of the entire organization.

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So You Have Decided to Sell Your Business – What Options Do You Have?

You have decided to sell your Business for 1 or more reasons – it could be because you have decided to relocate or emigrate; you may want to cash in after many years of hard work and retirement; or you may have decided to move into a new venture.

Once you have made your decision to sell, you need to decide on the method you will employ to ensure a successful sale.

You only have 2 options to decide on –

1) Employ the services of a Business Broker or

2) Sell your Business yourself.

Having sold my own businesses privately in the past, and having owned my own business Brokerage and sold Businesses on behalf of clients, I am qualified to give an overview of the pros and cons of both methods.

Selling through a Business Broker:

– A qualified Broker can assist you with establishing the correct price for your Business in order to ensure a successful sale.

– Allows you the time to concentrate on running your business and preventing the possible declination of turnover and profits.

– A qualified Broker knows the most effective process to use from marketing your business, screening and qualifying leads, and negotiating the sale with an interested buyer.

– The Broker has the necessary documents to qualify potential buyers, and conclude a sale.

– Brokers usually charge a commission of 10% on the sales price of the Business. This could amount to a huge amount of money coming out of your pocket! You need to decide whether you are prepared to give away 10% of the selling price of your business!

– If a broker in a Brokerage needs to meet his target, or is short of personal funds, he or she may push you to accept a lower offer for your business to satisfy his / her needs.

Selling your Business privately:

– You know your business better than anyone. You are the best person to answer questions on your business. You also know the industry and can suggest ways of improving turnover and profits. You may also be able to point out future opportunities in the industry.

– You can save on the 10% commission charged by Brokers. The extra 10% could amount to a substantial amount of money, and will come in very handy with your future plans!

Conclusion:

– The reason why most sellers do not sell privately is because they actually do not know how!

– They do not know how best to market their business for sale, how to qualify the potential buyers, what steps to follow, and what documents are needed. They also know that they will need to spend an unknown amount of money to have the agreement drawn up by an Attorney.

What if there was another option?

– You get a step by step guide to selling your Business;

– Your Business is advertised on a premium targeted site;

– You receive all leads yourself;

– You get all documentation to conclude the sale;

– You get access to telephonic support and advice from a qualified Business Broker;

– You pay 0% commission!

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Businesses Have to Avoid Making ERP Mistakes

Most entrepreneurs today now know the significance of having a decent ERP software or framework. With this system, certain procedures can be streamlined inside the organization, sparing entrepreneurs time and expenses. Selecting the privilege ERP system for your business however is not a straightforward undertaking. You should contribute adequate time and push to make the correct venture for your organization. On the off chance that you commit the error of putting resources into the wrong system and with utilizing it, all your speculation will basically go down the deplete. The following are some key ERP botches organizations should observe and abstain from making:

1. Insufficient Planning- In the event that you need your ERP venture or system to work to the organization's preference, arranging is significant. Entrepreneurs and leaders who do not arrange altogether before they start an ERP software assessment can get to be distinctly confounded when making their determination and all things considered, they will not completely comprehend their present procedures and how to develop them to augment business advantages and efficiencies. To maintain a strategic distance from this issue, organizations bought to direct an in review of the greater part of their procedures and strategies before picking an ERP system. In the event that you do not have an in-house group prepared to do legitimately assessing ERP systems, consider contracting an outsider or seller impartial expert who has encounters in executing ERP answers for organizations in your industry.

2. Advantages of ERP- Diverse ERP systems offer different advantages. In spite of the fact that these temporary supportive for your business process management, it is critical to investigate the impediments of these systems also. The exact opposite thing you need is to put resources into a system that has system usefulness limitations, absence of capacities, and negatively affects existing inward prescribed procedures. To stay away from this mix-up, do not restrict your potential seller to only maybe a couple. Search for no less than five and approach them for references. Keep in mind to do some extra research online by perusing up on customer tributes or brand audits.

3. Understanding the ERP system's key components- When you have the ERP software introduced you or the workers in control need to know the system's intricate details. On the off chance that you or your workers do not know or comprehend and utilize each one of the components, your organization will miss different opportunities to mechanize business forms, finish works speedier, and meet business goals. This additionally assumes you are not streamlining the system and getting less from your speculation. You can maintain a strategic distance from or tackle this issue by making an ace rundown of the considering number of elements of the system and following the recurrence of their utilization. You can then occasionally audit this rundown to figure out which components are being utilized much of the time and which ones are the most supportive.

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Safe Way to Tackle The Beginning Tempest of A Business

The beginning stage of a business is considered as the most challenging stage as it comes with many windstorms. However, most of the cyclones come in the initial period of any startup business are not pre-defined. So, it is impossible for you to predict most of the windstorms that are coming. You can only predict some of those cyclones that are likely to come in your way. This is an informative post with will be tolling you an extraordinary way by which you can tackle the known portion of your business tempest. We are discussing, how you tackle the beginning tempest of your startup business. But yes, you will not get the answer to your question, why the initial stage of a business is considered as the most challenging stage, through this post. We are not even discussing the availability of business capitals or the providing agencies.

Market research & feasibility study is considered as a great weapon for dealing the beginning tempest of any business that is going to be established. It is necessary, too. Before you start a business, whether it is a product based business or a service based business, you must go through a feasibility study. While doing the research, you can include these ten factors.

1. Present & future demand
2. Projected gap
3. Market movement
4. Product acceptability
5. Competitor frequency & effectiveness
6. Availability of raw materials
7. Price feasibility
8. Transportation system
9. Availability of skill fullness
10. Customer volume

The involvement of expert minds is suggested to you if you want to study the market in a better way. You can even invite a third party if you are keen in projecting a small portion of your budget. At least, we suggest you invest some money in making a good market research, followed by the feasibility study.

Before you apply for a business loan to any lending agency, it is very important for you to know about the existing competitors who are dealing with the same product or service. The acceptance of your existing competitors will define the acceptability of your business which is definitely an important factor to know about. Another thing is the customer volume and their taste. Your business volume should not bigger than the customer volume. It is better if the delivered product or service is compatible with the taste and demands of your startup business customers. The decided price should not be higher than the market price. Do not prefer a low price, too. It should be uniform and compatible with the current market. Finally, a proper market research is really a safe way to tackle the beginning tempest of a projected business.

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