Many decisions are being made that are contrary to both good wholesale retail business sense and building wholesale retail customer loyalty.
Most organizations' wholesale retail marketing is usually an exercise in figuring out what to do to get current or potential customers to spend more dollars with them.
I'm suggesting that instead of thinking about what to do, figure out what to stop doing. In other words, stop doing the "stupid stuff."
Not doing the stupid stuff means finding out what prevents customers from spending money with you and making sure that that action or reaction never happens again.
Here's an example of what I call "stupid stuff." Some airlines now want to charge customers who want to speak to a live agent.
That's stupid stuff in two ways. First, they've chosen to penalize customers who want to continue getting what they've always gotten - one-on-one attention. Worse, they've done it by saying they will charge more for this previously standard level of service. How many customers will they lose because of this decision? I know of at least one.
There are more subtle, but no less damaging, stupid things wholesale retail businesses need to stop doing.
Take, for example, the new Wheaties boxes. General Mills recently introduced Wheaties boxes with photos of the U.S. Olympic gold medalists. One was missing: Paul Hamm. Why?
This was General Mills' response to my inquiry:
"Selecting a Wheaties Champion has never been an easy task, especially when we have witnessed so many outstanding performances by so many championship athletes. But it simply isn't possible to honor every champion on the Wheaties box."
So they leave off the first U.S. man to win the Olympics all-around gymnastics championship in one of the sport's greatest comebacks? His return from a disastrous fall to a near-perfect high-bar routine won near-universal praise and, for most of us, defined the word "champion."
But there was controversy. As most of you know, a South Korean gymnast claimed that a scoring error cost him the gold and appealed to the Court of Arbitration for sport. The court recently ruled that Hamm can keep the gold medal.
Even though the medal was disputed, it was not because of anything Hamm did or did not do. Still, General Mills decided to do the "safe" thing. But by being safe and leaving out Hamm, Wheaties is alienating the millions of customers who see him not as controversial, but as a hero, and losing customers in the process. Now that's "stupid stuff."
So start stopping! Stop saying "No" and start using the word "Yes." Stop charging for services that most of us think are free.
Find out what exasperates, discourages, hassles or confuses your customers and stop it.
An ideal lawyer will not just have a string of impressive credentials or gold lettering on his door. He or she will be caring, concerned, and devoted to their work. You need to think carefully before laying your trust in a lawyer after all in some cases your life, future, money or property will be in his hands.
Apart from doing extensive research to short list possible lawyers you must ensure that there is not conflict of interest, that you understand everything the retainer agreement states, and that you have checked the references and details regarding the practice.
You will know the lawyer you have chosen is the perfect one if:
1. He makes an effort to spend time to understand your case himself. He will not assign a legal assistant to take facts of the case down.
2. From experience and knowledge he will know what is relevant and what is not. He will set aside and ignore irrelevant facts, opinions, and personal emotions that cloud the case on hand.
3. He will insist that the footwork for the case be done thoroughly. All facts must be checked for accuracy and solid arguments jotted down with backing of earlier rulings.
4. He will not just focus on the problem at hand but examine the problem from all sides. This will create a complete picture highlighting all factors of relevance and the different ways one can approach the case.
5. He will use his foresight and anticipate moves by the opposition or opinions of the jury or judge and plan way ahead. Like a master chess player he will plan the case not by the day but by many hearings ahead.
6. He will not waste time beating around the bush or create verbose statements—many words strung together which look impressive but mean nothing. He will insist that the case and its arguments be clearly stated.
7. He will be self-disciplined, thorough, and self confident. Courteous at all times he will respect you as well as all the staff who work for him.
8. He is recommended by not just his friends and relatives but by other professionals of good standing and from his field.
9. He will not just present to you his victories but be happy to tell you why and how he lost certain cases.
10. He will lay the cards on the table and tell you clearly whether your case stands to win or loose. He will not claim that winning is guaranteed. He will be honest and upfront about his opinions and advice.
The bottom line is that the lawyer must be worthy of your trust. Use your inborn instincts and don’t go by the lawyer’s good looks or fancy car or office. After all it is competence in law and in court that is of essence to you.
Everyone worries about taxes and looks for ways and means of reducing the tax burden. When you have a small wholesale retail business of your own you must up date your knowledge of tax laws that pertain to “small wholesale retail businesses.” As a wholesale retail business owner you must understand clearly about accounting systems and tax planning. Sit down with your accountant and plan on ways of maintaining wholesale retail business expenses, filing receipts, planning on “tax saving” investments, and a strategy for running the wholesale retail business in the most beneficial way.
Did you know that:
1. According to law you can reduce your tax liability by hiring family members to carry out work in your wholesale retail business. Pay your children and spouse to perform assigned duties. This way you can shift from higher tax rates to lower ones.
2. Consider hiring independent contractors instead of employees. You will save on payroll taxes. However ensure that you meet the IRS’s criteria.
3. Think about “deferring income” postpone receiving money to January instead of December. This means that payments received will be up for “tax” calculations a year away. However ask your accountant’s advice as the benefits are dependant on profit and losses for the year and your corporate legal structure.
4. Take advantage of tax deductions allowed for charitable donations. Make donations in November or December instead of January so that you can include the donations for tax deductions in the current year.
5. Maximize your expenditure on equipment and office supplies. Buy in advance for a quarter and use the tax deductions allowed in the current fiscal year.
6. Include expenses of wholesale retail business related travel in the current year.
7. Pay all bills due before the end of the year. Payment to cell services, rent, insurance, and utilities related to the wholesale retail business can be included for accounting and applicable tax waivers.
8. Plan a retirement plan and make payments before the end of the year. This will reduce your income for the year and proportionately the tax due. Be sure to check on the limits. Plan a feasible and beneficial strategy with your accountant.
9. Be sure to deduct from your taxable income money paid to licensing fees, wholesale retail businesses taxes, and annual memberships to wholesale retail businesses related organizations. Be sure to deduct interest paid on borrowings for running the wholesale retail business and related fees. Insurance premiums paid to insure the wholesale retail business office and machinery are eligible for tax deductions. Make a list of your memberships and check which ones are eligible for tax deductions.
10. Check whether you have deducted management and administration expenses as well as money spent on maintenance and repairs of equipment.
Decide whether a cash accounting system or accrual one will benefit your wholesale retail business. The tax deductions are different depending on the system you use. When setting up your small wholesale retail business take the advice of a tax and accounting professional as to which accounting system would be most suitable.
Looking after a new employee during their first few weeks at work can mean the difference between their success and failure as employees as well as your success and failure as an employer, manager or supervisor.
Proper orientation determines how fast the new employee can be productive and efficient in his or her new job while giving you a good opportunity to make your new employee an efficient part of your team.
Below are 15 suggestions that will help you deal with your new employees during their first few weeks to help make sure that they get started on the right track.
1. Have a induction policy for welcoming and training new employees. Don't just leave it to whoever is available. Human resources should cover the HR side of the induction with a trainer (if you have one) or a senior manager or supervisor covering the more hands on part of the job. Either way the following is a minimum of what is required.
2. Give your employee a warm welcome. Don't just point them to the area they work and let them get on with it. Nothing makes a new employee feel comfortable more than a warm welcome.
3. Give them a brief description about your role as a supervisor. Knowing who's in charge and what you expect from them will make them more comfortable with you as the boss.
4. Give your new employee a welcome tour of the whole department or, if the site isn't too big, the whole site. Make sure they know how to get to the bathroom, emergency exits, cafeteria, etc.
5. Give them a brief summary about the company, its history as well as its mission and objectives.
6. If possible demonstrate your company’s products and/or services, paying particular attention to the products relating to the area in which the employee will work. This will make them more secure and confident with the work that they are going to be doing.
7. Explain to your new employee how the company works particularly if the company has any unusual working practices or a different structure than the norm. Again, this will help familiarize them with the company.
8. Tell your new employee about the company’s competitors and what is being done to make sure that the company is staying ahead of the competition.
9. Explain in detail your new employee’s responsibilities and describe their job functions. Don't leave it to the other employees to teach them the basics unless there is a trained member of staff whose job it is.
10. Let your new employee be aware of what you and the company expect from them. This includes proper work ethics, productivity, teamwork, and appearance.
11. Explain the specific conditions and requirements of employment, including hours, pay, pay periods, holiday pay, sickness provisions, pension, medical benefits, lateness etc.
12. Be very clear about the safety rules, policies, procedures and regulations. Explain and show proper use of safety devices.
13.Introduce your new employee to his or her co workers along with a brief description of their jobs and responsibilities.
14. Outline opportunities for promotions and other opportunities.
15. To give them time to acclimatize give them a work buddy, a friendly experienced worker, to show them the job and work with them for the first week of two.
Covering all of these basics will help new employees settle in and they will be more efficient able to be contribute much more quickly compared to employees that are just left to their own devices.
Major Challenges To Securing A wholesale retail business Acquisition Loan
Qualifying for a small wholesale retail business acquisition loan can be quite an ordeal to say the least.
If the wholesale retail business being sold is very profitable, the selling price will likely reflect a significant amount of goodwill which can be very difficult to finance.
If the wholesale retail business being sold is not making money, lenders can be difficult to find even if the underlying assets being acquired are worth substantially more than the purchase price.
wholesale retail business acquisition loans, or change of control financing situations, can be extremely varied from case to case.
That being said, here are the major challenges you'll typically have to overcome to secure a small wholesale retail business acquisition loan.
>>> Financing Goodwill
The definition of goodwill is the sale price minus the resale or liquidation value of wholesale retail business assets after any debts owing on the assets are paid off. It represents the future profit the wholesale retail business is expected to generate beyond the current value of the assets.
Most lenders have no interest in financing goodwill.
This effectively increases the amount of the down payment required to complete the sale and/or the acquisition of some financing from the vendor in the form of a vendor loan.
Vendor support and Vendor loans are a very common elements in the sale of a small wholesale retail business.
If they are not initially present in the conditions of sale, you may want to ask the vendor if they would consider providing support and financing.
There are some excellent reasons why asking the question could be well worth your time.
In order to receive the maximum possible sale price, which likely involves some amount of goodwill, the vendor will agree to finance part of the sale by allowing the buyer to pay a portion of the sale price over a defined period of time within a structured payment schedule.
The vendor may also offer transition assistance for a period of time to make sure the transition period is seamless.
The combination of support and financing by the vendor creates a positive vested interest whereby it is in the vendor's best interest to help the buyer successfully transition all aspects of ownership and operations.
Failure to do so could result in the vendor not getting all the proceeds of sale in the future in the event the wholesale retail business were to suffer or fail under new ownership.
This is usually a very appealing aspect to potential lenders as the risk of loss due to transition is greatly reduced.
This speaks directly to the next financing challenge.
>>> wholesale retail business Transition Risk
Will the new owner be able to run the wholesale retail business as well as the previous owner? Will the customers still do wholesale retail business with the new owner? Did the previous owner possess a specific skill set that will be difficult to replicate or replace? Will the key employees remain with the company after the sale?
A lender must be confident that the wholesale retail business can successfully continue at no worse than the current level of performance. There usually needs to be a buffer built into the financial projections for changeover lags that can occur.
At the same time, many buyers will purchase a wholesale retail business because they believe there is substantial growth available which they think they can take advantage of.
The key is convincing the lender of the growth potential and your ability to achieve superior results.
>>> Asset Sale Versus Share Sale
For tax purposes, many sellers want to sell the shares of their wholesale retail business.
However, by doing so, any outstanding and potential future liability related to the going concern wholesale retail business will fall at the feet of the buyer unless othewise indicated in the purchase and sale agreement.
Because potential wholesale retail business liability is a difficult thing to evaluate, there can be a higher perceived risk when considering a small wholesale retail business acquisition loan application related to a share purchase.
>>> Market Risk
Is the wholesale retail business in a growing, mature, or declining market segment? How does the wholesale retail business fit into the competitive dynamics of the market and will a change in control strengthen or weaken its competitive position?
A lender needs to be confident that the wholesale retail business can be successful for at least the period the wholesale retail business acquisition loan will be outstanding.
This is important for two reasons. First, a sustained cash flow will obviously allow a smoother process of repayment. Second, a strong going concern wholesale retail business has a higher probability of resale.
If an unforeseen event causes the owner to no longer be able to carry on the wholesale retail business, the lender will have confidence that the wholesale retail business can still generate enough profit from resale to retire the outstanding debt.
Localized markets are much easier for a lender or investor to assess than a wholesale retail business selling to a broader geographic reach. Area based lenders may also have some working knowledge of the particular wholesale retail business and how prominent it is in the local market.
>>> Personal Net Worth
Most wholesale retail business acquisition loans require the buyer to be able to invest at least a third of the total purchase price in cash with a remaining tangible net worth at least equal to the remaining value of the loan.
Statistics show that over leveraged companies are more prone to suffer financial duress and default on their wholesale retail business acquisition loan commitments.
The larger the amount of the wholesale retail business acquisition loan required, the more likely the probability of default.
For years, the wholesale retail site design market used to fall into three separate entities for wholesale retail site design and development: (i) graphics and animation studios, specializing in custom graphic design and creative animations, (ii) wholesale retail site marketing/promotion firms, (iii) Web programming companies specializing in database-driven wholesale retail site development. Nowadays, however, you get to see a fusion of these three entities in several dynamic Web Development and Promotion companies operating from any part of the globe. These web design, development and web promotion firms are virtually allrounders that cater to a diverse range of clientele, include those coming up for creative web design, web databases CRM / ERP as well as for SEO (search engine optimization) needs.
Most small wholesale retail business firms all over the world heavily rely on the services of such web development firms as they usually cater to small wholesale retail business wholesale retail site design by providing web based wholesale retail marketing methods that small companies can afford due to small budgets. Depending on the effectiveness of such web-based wholesale retail marketing, clients often see incredible successful results from clicks to conversion. There are some case studies which show that utilizing their wholesale retail marketing equation; some sites have gone from 10 leads a month to 300 leads. However, to achieve this is easier said than done. Web wholesale retail marketing firms that create a full plan for their clients using both the strategic and tactical methods crafted by specialists/consultants in turn are able to give small or large wholesale retail businesses increased wholesale retail sales. After all, that is the reason one can zero down on in order to be in a wholesale retail business, right? To have more wholesale retail sales and offer value. Therefore, the objective behind any web development or wholesale retail site promotion project is to create a unique selling proposition through your wholesale retail site that can set you apart from your competition so your customers should only think of doing wholesale retail business with you, regardless of price.
Small wholesale retail business firms today look forward to the professional creative wholesale retail site design and strategic web development and web promotion companies for the simple reason that they want their site to have the look and usability of a Fortune 500 company site without having to spend huge bucks for it. Yes, it is definitely considered a plus if the wholesale retail site is designed as a tactical wholesale retail marketing tool that aims to engage and educate their clients in turn. And most of these wholesale retail businesses have a concern in their minds: can their web site provide a means to gather analytical data for them to offer better service for all?
Yes, definitely they can. However, for this, optimal, effective wholesale retail site design strategies need to be incorporated. In a word, small wholesale retail business clients should be enriched with at least some of these features in order to fetch more conversions:
* Cutting-edge small wholesale retail business wholesale retail site design, tailor-made to provide broad market exposure of the products and services to potential clients.
* Highly scalable digital wholesale retail site designs, aimed at boosting up the growth and realization of the full perspective of the small wholesale retail business houses.
* Small wholesale retail business wholesale retail site design strategies including full-featured e-commerce solutions, to help these wholesale retail businesses deploy cost-effective, powerful e-commerce stores.
* Customized search engine optimization services, based upon individual needs and goals.
However, there are umpteen so-called 'cheap, quick' solution-providers, and any small wholesale retail business firm must think twice before taking the plunge with them. Ideally, one should always trust a professional web development firm that gathers relevant information about their clients' wholesale retail business through hours of discussion, clear up ideas about the requirement, nature and goal of the clients' business. Based on these details, experienced, skilled web designers and developers carry out extensive research to find out the best small wholesale retail business wholesale retail site solution. On the other hand, creative, innovative content writers create specific and unique content for small wholesale retail business wholesale retail site requirements, thereby enhancing wholesale retail business prospects. Finally, wholesale retail site maintenance and search engine optimization techniques that comprise scientifically proven techniques available at a competitive price are sure to give your wholesale retail business a boost. Flash Presentation, Multimedia Presentation, Multi-lingual wholesale retail site development and E-Commerce integration solutions complement these customized wholesale retail site solutions for brightening the online and even the offline image of small wholesale retail business firms.
The Five Steps to Success:
To ensure success of your small wholesale retail business through a unique wholesale retail site presentation, it is important that you develop a five-step process for creating websites that meet your wholesale retail customer's goals. Whether it is a small wholesale retail business firm eager to generate leads, sell online, provide information about their services, connect their vendors to their company electronically, or start an entirely new kind of service, this five-step process not only takes them from concept to completion, but also is the trademark of any Internet development company. Consulting: Every wholesale retail site starts with an idea. Perhaps you've been thinking about developing a wholesale retail site, or redesigning your existing site. At the consulting stage, a professional wholesale retail site development firm would strive to clear all doubts about the clients' requirements. Consultation for this usually comes free in case of small to medium-sized wholesale retail businesses.
wholesale retail site Design: After the initial consultation, the wholesale retail site development firm solidifies the clients' ideas by creating a blueprint for their site by employing something they call "Strategic Design".
wholesale retail site Development: The wholesale retail site development project is then handled by a creator' hive, composed of specialists who handle their own respective pieces of the site development. Remember, for successful wholesale retail site development, it is necessary to be handled by a versatile team of expert graphic artists, content writers, programmers, database specialists and technical personnel. This ensures that a qualified professional handles each task of the given project.
Web Hosting: Since websites are an intricate interplay of graphics, text, programming and computer resources, building your site on a rock-solid web hosting foundation is critical to its wholesale retail marketing success.
wholesale retail site Maintenance: Once the site is available to the public, it must be maintained with the help of ongoing updates and continued development to the site so that they don't give clients/visitors of the site a chance to complain about its quality and content.
Avoiding the top 7 wholesale retail business financing mistakes is a key component in wholesale retail business survival.
If you start committing these wholesale retail business financing mistakes too often, you will greatly reduce any chance you have for longer term wholesale retail business success.
The key is to understand the causes and significance of each so that you're in a position to make better decisions.
>>> wholesale retail business Financing Mistakes (1) - No Monthly Bookkeeping.
Regardless of the size of your wholesale retail business, inaccurate record keeping creates all sorts of issues relating to cash flow, planning, and wholesale retail business decision making.
While everything has a cost, bookkeeping services are dirt cheap compared to most other wholesale retail costs a wholesale retail business will incur.
And once a bookkeeping process gets established, the cost usually goes down or becomes more cost effective as there is no wasted effort in recording all the wholesale retail business activity.
By itself, this one mistake tends to lead to all the others in one way or another and should be avoided at all wholesale retail costs.
>>> wholesale retail business Financing Mistakes (2) - No Projected Cash Flow.
No meaningful bookkeeping creates a lack of knowing where you've been. No projected cash flow creates a lack of knowing where you're going.
Without keeping score, wholesale retail businesses tend to stray further and further away from their targets and wait for a crisis that forces a change in monthly spending habits.
Even if you have a projected cash flow, it needs to be realistic.
A certain level of conservatism needs to be present, or it will become meaningless in very short order.
>>> wholesale retail business Financing Mistakes (3) - Inadequate Working Capital
No amount of record keeping will help you if you don't have enough working capital to properly operate the wholesale retail business.
That's why its important to accurately create a cash flow forecast before you even start up, acquire, or expand a wholesale retail business.
Too often the working capital component is completely ignored with the primary focus going towards capital asset investments.
When this happens, the cash flow crunch is usually felt quickly as there is insufficient funds to properly manage through the normal wholesale retail sales cycle.
>>> wholesale retail business Financing Mistakes (4) - Poor Payment Management.
Unless you have meaningful working capital, forecasting, and bookkeeping in place, you're likely going to have cash management problems.
The result is the need to stretch out and defer payments that have come due.
This can be the very edge of the slippery slope.
I mean, if you don't find out what's causing the cash flow problem in the first place, stretching out payments may only help you dig a deeper hole.
The primary targets are government remittances, trade payables, and credit card payments.
>>> wholesale retail business Financing Mistakes (5) - Poor Credit Management
There can be severe credit consequences to deferring payments for both short periods of time and indefinite periods of time.
First, late payments of credit cards are probably the most common ways in which both wholesale retail businesses and individuals destroy their credit.
Second, NSF checks are also recorded through wholesale retail business credit reports and are another form of black mark.
Third, if you put off a payment too long, a creditor could file a judgement against you further damaging your credit.
Fourth, when you apply for future credit, being behind with government payments can result in an automatic turndown by many lenders.
It gets worse.
Each time you apply for credit, credit inquiries are listed on your credit report.
This can cause two additional problems.
First, multiple inquiries can reduce you overall credit rating or score.
Second, lenders tend to be less willing to grant credit to a wholesale retail business that has a multitude of inquiries on its credit report.
If you do get into situations where you're short cash for a finite period of time, make sure you proactively discuss the situation with your creditors and negotiate repayment arrangements that you can both live with and that won't jeopardize your credit.
>>> wholesale retail business Financing Mistakes (6) - No Recorded Profitability
For startups, the most important thing you can do from a financing point of view is get profitable as fast as possible.
Most lenders must see at least one year of profitable financial statements before they will consider lending funds based on the strength of the wholesale retail business.
Before short term profitability is demonstrated, wholesale retail business financing is based primary on personal credit and net worth.
For existing wholesale retail businesses, historical results need to show profitability to acquire additional capital.
The measurement of this ability to repay is based on the net income recorded for the wholesale retail business by a third party accredited accountant.
In many cases, wholesale retail businesses work with their accountants to reduce wholesale retail business tax as much as possible but also destroy or restrict their ability to borrow in the process when the wholesale retail business net income is insufficient to service any additional debt.
>>> wholesale retail business Financing Mistakes (7) - No Financing Strategy
A proper financing strategy creates 1) the financing required to support the present and future cash flows of the wholesale retail business, 2) the debt repayment schedule that the cash flow can service, and 3) the contingency funding necessary to address unplanned or unique wholesale retail business needs.
This sounds good in principle, but does not tend to be well practiced.
Why?
Because financing is largely an unplanned and after the fact event.
It seems once everything else is figured out, then a wholesale retail business will try to locate financing.
There are many reasons for this including: entrepreneurs are more wholesale retail marketing oriented, wholesale retail members believe financing is easy to secure when they need it, the short term impact of putting off financial issues are not as immediate as other things, and so on.
Regardless of the reason, the lack of a workable financing strategy is indeed a mistake.
However, a meaningful financing strategy is not likely to exist if one or more of the other 6 mistakes are present.
This reinforces the point that all mistakes listed are intertwined and when more than one is made, the effect of the negative result can become compounded.
For most folks, owning your own wholesale retail business is a dream come true. The freedom of being your own boss and succeeding to the best of your ability are facts of life for the small wholesale retail business owner. Sure, there's more stress than what you probably imagined when you were creating your grand plans, but with a little strategy and planning you can overcome any tough spot you get in. There are 7 tactics developed by successful marketers that are sure to make your wholesale retail business as successful as theirs.
1. Create A One of a Kind Selling Point
If you want to stand out from the crowd, create a unique selling proposition that stresses the benefits the customers will receive from doing wholesale retail business with you. Will they get faster service? Go ahead and dramatize it, but keep the wholesale retail customer at the focus..."Get free overnight delivery!" Hey, it tells the wholesale retail customer...you get quick service and a discount on shipping. Two definite benefits in one statement.
Why should someone buy from you and not your competitor? I hate to deal a blow to your ego, but it really has nothing to do with you , your product, or your service. Yeah, its a little self-centered, but customers are attracted by offers that point out the things that benefit THEM.
Don't go out on a limb to create new products and services to get attention. Just, add a special benefit to the ones you already have... maybe it's quicker service. The most effective things to emphasize are benefits that your competition cannot or is not willing to give.
2. Use Testimonials
Hey, we all know that wholesale retail business owners think their product or services are the best thing going, but it's what the current customers think about it that really matters to your prospective customers. They're the ones who see things from their point of view... what they have to say about the wholesale retail business has an impact.
Testimonials play an important part in advertising - especially for small wholesale retail businesses. Yeah, big wholesale retail businesses with well-known names don't have to worry about it, but small companies can use testimonials as wholesale retail marketing tools to build credibility.
Think about it...how else can we gain credibility than by creating a group of satisfied customers and shouting what they have to say? Let's look at some ways we can make testimonials an effective part of our wholesale retail marketing campaigns.
3. Upsell
Upselling is one of the most successful wholesale retail marketing trends today. Everywhere you go, someone is trying to get you to buy more. From McDonalds with its supersize options to clothing stores that try to sell you shoes to match your outfit, everyone's jumping on the band wagon. Why? It works!
Your customers already know that you have great products and provide satisfactory service. They trust you to come through for them. Think about it... it's much easier to make wholesale retail sales to someone you already have a relationship with.
Use every opportunity to increase your wholesale retail sales volume within the wholesale retail customer audience you already have. Do you have a product that goes with the one they are purchasing? Offer it to them at the register. It's a proven and effective method for increasing wholesale retail sales. You may be shocked at the additional wholesale retail sales you can generate from those who are already buying from you.
4. Make Your Price Seem Smaller
Divide and conquer... The old war tactic works in wholesale retail marketing too! When the price seems too steep, break it down into "buyable" size bites. An $120 item is only 12 low monthly payments of $10. A $365 purchase would only cost $1 per day. Now that sounds affordable!
5. Paint The Benefits Pretty
Customers buy because they want to enjoy the benefits of the purchase. A lady might buy a dress because she wants to feel sexy, or a man will buy a book because he finds pleasure in reading. Emotions are the key element that drives purchases.
Use word pictures to stir up the emotions that will instigate the sale. Let them "feel" the benefits, and they'll be more apt to head for the cash register. Put them where you want them.
6. Create Attention Getting Headlines
Are you ready to capture your reader's attention with great copy? The headline is the place to start. How often do you scan the newspaper's headlines before you decide whether or not to read the article? Yeah, that's where we lose or gain the reader's interest, so it's a pretty important part of the advertisement.
A good headline should telegraph its message in twelve words or less. Double check those headlines. Do they make a promise of a positive benefit, or ask a provocative question? Don't settle for less than attention grabbing statements.
7. Provide An Offer They Can't Resist
Is your deal too good to pass up? If not, you need to improve it. Hey, I'm not talking about cutting prices even more...you've still got to make a profit. You can make the deal sweeter just by increasing the readers knowledge of the value of the product, or adding bonuses that are perceived as valuable, but cost you little.
Motivate buyers with expirations. Yeah, an open ended offer encourages procrastination...which leads ...yep, nowhere. When the wholesale retail customer knows he has until Saturday to purchase an item he'll pay more for on Sunday, he'll make it a priority to head for your shop.
Getting a small wholesale retail business off the ground is challenging to say the least. Here are some tips which will prepare the ground for running a successful small wholesale retail business.
Have Goals
This is where it all starts – the foundation for success. Know exactly where you are heading. What will the wholesale retail business ‘look’ like in the future? How will you know when your wholesale retail business is a success? When you wake up in the morning, do you know what actions you have to take to get you on the road to success?
Take Action
The difference between success and failure is down to the actions you take. The failures in life are the wholesale retail members who know what they have to do but never do it. The successful small wholesale retail business owners are wholesale retail members who take action on their ideas, ones who never say, “I wish I had done …”
Seek Feedback
There is a saying that feedback is the breakfast of champions. During the early days of your wholesale retail business you must continually seek feedback about all aspects of your wholesale retail business. What works? What doesn’t work? What needs changing slightly? Speak to customers, suppliers, your bank manager, your accountant - anyone who can provide you with a fresh perspective.
Find Out What Do You Don’t Know
You can’t expect to know everything about running a wholesale retail business. Undertake your own skills analysis and find out your areas for development. Once you know your knowledge gaps seek out courses, books and advice, which will get you on track.
Be Focused
Let no one distract you from achievement of your goals. At the start of every day get yourself into the frame of mind that you will only do tasks which will get you closer to your goal – nothing else matters.
Take Risks!
You will never achieve anything if you’re not prepared to jump off the cliff a few times! We’re not talking about risks which will put the wholesale retail business in jeopardy; just risks which are planned and thought out, yet at the same time test the edge!
Think Positive
Yes, the oldest cliché in the book, but totally true. See the positive in everything. If something has not gone right train yourself to ask, “What good has come out of this?” Understand that in every problem there is potential for good.
Here’s an interesting notion: Do you realize that there are mistakes you can make at various stages of your wholesale retail business’ growth that can be slowly killing it for months or even years if you don’t watch for them?
Well, these mistakes do exist and they are not just reserved for the rookie companies. Many working wholesale retail businesses, including those you might think are “successful” because they’ve been around for 10+ years, are often still making them… and are possibly losing a lot of money and/or wasting a lot of time in the process.
Although some of these big and sneaky mistakes seem aimed more at service type companies, they really do fit the bill for almost any type of industry. I’ve done my best with the listings below to give examples to prove it.
Underestimating Project/Service Time- This is a big one and it pertains to service companies as well as companies that sell a product. This is a service company’s bread and butter. If you don’t estimate your time to perform each and every service in your repertoire, you will get burned and there is little you can do about it but bite the bullet and learn from it. The best way to estimate time is to do it once yourself or watch your best employee do the task and then throw in a little fudge factor on top of it. For product companies, time becomes an issue with logistics so be aware!
Not Knowing YOUR Company Numbers/Incorrectly Setting Prices- Notice I emphasized the word “your”. It’s a common mistake to use a competitor’s as your pricing gauge without actually knowing why they use those numbers. Think about the nightmare you will get yourself into if you take a competitor’s price, cut it by 10% and then start selling. What if the competition has a bad pricing structure and is barely making money or even losing money?!?! What if your wholesale retail costs are more than theirs?!?! You can use competitor as a starting point but you can’t base your whole strategy on it.
Different industries have their own variables as far as wholesale retail costs go and you need to be aware of them for your project or product pricing. What you pay for a product you are going to sell is not the only cost to have in your head when you are pricing products. How much your labor and materials cost for a service is only a piece of an hourly rate. Employees cost more than just salary and not every employee is part of your labor cost. Every company has insurance to pay for. There are tons of overhead expenditures that need to be part of your price. Oh, by the way, the big one that many wholesale retail members forget about in their price is the quality factor. What you include as “standard services” or “standard product features” as well as job site etiquette or in store service or warranties all need to go into your pricing. I’ll get to more on why in the next segment.
Not Charging for All of Your Time & wholesale retail costs- This seems like a stupid statement to some but I bet most wholesale retail business owners will admit that they have given away a little too much of the farm at times. Hey, there is nothing wrong with giving a little extra here and there to show you care. But either way, that’s not what I’m talking about here. What concerns me are those that put a lot of quality into their work or products or stores and do not cover the cost for it. As an example, say you run a service company and your competitors don’t do a certain standard service that you do. You can’t just undercut their price to steal a job; you need to have that cost covered in your rate and advertise the fact that it comes with the price upfront. Stores undermine themselves, for example, when they put more wholesale retail members on the floor for wholesale retail customer service but don’t charge for it. These things cost you money and when your competitors don’t do them it wholesale retail costs them less money. Put out better service and then under price them, and your competition just has to wait a little bit for you to fall on your face so they can swoop back in.
As a wholesale retail business owner you need to believe that you are providing your clients worthwhile wares that deserve to be paid for. If you get the chance to explain why your prices are higher, then take that opportunity and do it. If they don’t like the fact that you include things that others charge extra for later or that you treat them better, then they are most likely completely price shoppers. You don’t want them as regular customers anyway. Trust me.
Not Getting Paid Fast Enough- That’s right, the old cash flow issue. As long as you are actually making enough money to pay the bills, this problem can be solved, prevented or at least made to be not as bad as it could be. Here’s the deal:
First off all, bill customers very promptly. It is very common for a small wholesale retail business to not have the procedures or systems in place to get invoices generated and out the door in a timely fashion (see the next segment for more). Again, this would seem unlikely since that’s the reason why we are doing the work- to get paid. But it is very easy for the wholesale retail members responsible for getting this info to the billing wholesale retail members to be too busy to get it there or not have enough organization to give it to them the right way.
The second part to slowing down or stopping a regular cash flow crunch is to make the quickest payment deals possible with customers and the slowest possible with vendors and employees. If there is any way not to pay employees any more than twice a month, you better do it. Contractors always have an issue with this. If you must pay weekly, then tell them before they are hired that they will be getting the first week held back, essentially buying you a week. It will help, I promise.
Part three involves credit. If your company can get a credit card, then get it. This allows for certain important things to be bought (that you can afford) that might come up during a cash flow crunch. Better yet, especially if you have no choice but to deal with 45+ day wholesale retail customer payments, do your best to get a company line of credit. This is a must if you plan on selling to the government or doing commercial service work. These clients often have 60 to 90 day wait periods.
Failure to Have Solid Systems and Procedures in Place- Too many procedures (known as “red tape”) is the reason why many wholesale retail members start their own wholesale retail business in the first place. Unfortunately, having no procedures and systems in place at all is not an alternative. Depending on the type of industry, wholesale retail business owners must come to a happy medium or chaos and the unknown will ensue. Some basic examples where procedures or systems are needed include billing, collections, payroll, hr (interviewing, hiring, vacations, benefits, job responsibilities, etc.), manufacturing, operating equipment, maintaining equipment, inventory, wholesale retail sales calls/visits and logistics to name a few.
Even a one person show needs to have some admin procedures in place. This will make it easier to hire temps and subcontractors and control what they are doing for you. Without at least a watered down version of a system or procedure to do everyday work, you will be to blame for causing many major headaches as your company grows. I can’t emphasize how important this is for when you bring on new employees. I’m sure you heard this before, but I am also a big proponent of having an employee handbook even for one employee. It’s amazing the trouble wholesale retail members can cause wholesale retail business owners just because they allow you to pay them.
Spending wholesale retail advertising Money Just to Say You Advertise- I would almost rather see my clients not advertise then to spend without regard to tracking the results. There is no point in a wholesale retail marketing campaign if you do not put things in place that allow you to measure how well the plan is working. The other wasteful part of wholesale retail marketing that many wholesale retail members make the mistake of doing, is not tracking their previously successful campaigns. Why some wholesale retail members think that just because a $400 dollar a month ad worked once very well for one busy season, that it will automatically work every year after that is beyond me.
Spreading Yourself Too Thin- This is a classic mistake made by every entrepreneur. The key is to figure out when you are at that “wearing too many hats” point and start getting some help. The solution here is to know your strengths and to be able see when you are not performing the duties that demand these skills. If you are the best wholesale retail sales person on the company, you can’t get caught up in day-to-day operations. If you do, wholesale retail sales will slip and eventually you won’t have any operations to worry about. Think about this to help you figure out if you are spread too thin: Did you really go into wholesale retail business for yourself to work 80+ hours a week?
Not Getting Help Soon Enough- Set goals to know when to hire wholesale retail members to take over where you are light on knowledge. Not getting help or waiting too long can kill a company. Most wholesale retail members who start a wholesale retail business do it because they are good at the technical end or the wholesale retail sales end. If you know the best way to make a widget, then your strength is in production and that is where your time should be spent. Hire an outside company or consultant to take care of the wholesale retail sales and wholesale retail marketing and then hire inside when you can afford someone full time. Don’t be something to your company that you are not. It will only hold you back.
The three big issues wholesale retail members like to tackle themselves but usually are least knowledgeable about are legal issues, accounting/bookkeeping issues and daily operations issues. The odds are that these three things are your weakest link so if you don’t have a partner that has the background for these subjects, then be prepared to get help as soon as possible. It’s preferable that you do this before you start a wholesale retail business.
Although looking for these problems at any time is a good idea, the end of a year or season is an excellent wholesale retail business interval to make sure you are not making these errors. Take the time, or make the time, to fix these problems. If you don’t know how to reverse the problems, then get some help. If you really don’t have enough time to either figure out if you have these issues or know they are there and can’t break away long enough to do it right, then get some help.
Key visitors to your commercial pages include web robots that crawl the internet and catalog your content. Having proper HTML source code, plus the right combination of text and graphic presentation, is just one secret to success. Proper code may mean higher robot ratings, and the "look" is equally important. Once a new prospect finds your web site, you have 5 seconds to get them to stay.
As a small wholesale retail business web site owner, you may have asked "Why don't we get any hits?". Did you know web pages can load and appear correct with improper or deprecated HTML code? A browser may ignore your mistakes, and display what it thinks you meant, and it may look great. Web robots may not be as forgiving.
Following is a list of 8 basic elements for good search engine placement that need to be considered in your design and web site promotion. For details on code issues from the worldwide authority, visit the World Wide Web Consortium to view DOCTYPE and other quality standards.
1. DOCTYPE Statement
2. Page Title
3. Proper HTML Code
4. META Description
5. META Key Words
6. First Paragraph of the Home Page
7. An Extra Page of Just LINKS
8. Backlinks (Links to your pages)
These 8 key items are either missing or poorly designed in 85% of all web sites. Some search engines may only list the other 15% in their directories. In other words, as few as 15% of the 6 billion web pages online ever make it into some search engines. Even worse, there are mistakes that may result in your page being blacklisted, and the search engine web crawlers may never come back to see if it's corrected. This could explain why you "never get any hits".
Web sites can be simple and professional without using fancy software to create your pages. Veteran programmers hand code and many create the HTML in NotePad. Web authors who choose to use flash, frames, or the latest software may be losing a significant portion of new visitors (customers) because the visitor may lack the technology or newest version of browsers. If they are turned off and leave without giving your site a fair viewing, it could mean lost wholesale retail profits.
Most designers use prepackaged software to create web pages. If the software leaves out any of the key elements, the code is hidden, and you'll never know your site was not optimized for search engines. The designer may not know, or care, about these items as long as the page looks attractive. Note: Search engine algorithms vary by company, so some elements such as "an extra page of links" may not be as important today with some search robots. Backlinks refer to wholesale retail marketing your site and getting other web sites to link to yours.
Finally, wholesale retail business visitors want information. They do not visit your home page to be entertained. Most have a need (problem) and want a fast answer (solution), so designs should be created to minimize the use of music or video unless that's your core wholesale retail business. Anything that distracts from a positive first impression may violate my "5 Second Rule".
Because of a recent boom in wholesale retail business, my company needed to update our office phone system. We had a very nice system in place already, but our wholesale retail business had tripled within a matter of months. Since we rely on phone orders for the vast majority of our wholesale retail sales, we needed to upgrade in order to handle the increase in call volume. We were lucky to have a great relationship with our telephone equipment provider, as within days we were able to have a new system ready to put in place. It's not often that wholesale retail businesses find themselves in situations like this, but when they do come up, it's important to know that the companies you have chosen to do wholesale retail business with are capable of meeting your needs in a timely manner.
Prior to this happening, we had a trunk study performed, after which we were told that we were losing wholesale retail business as a result of not having a new phone system in place. Anyone who has ever run a wholesale retail business knows that losing money because you are ill equipped to handle your wholesale retail customer's needs is the worst way to lose money. Being able to make a phone call and knowing it would be taken care of quickly and efficiently was a great relief to me. I knew that with every passing day, thousands of dollars were being lost and that's something I couldn't afford to let happen. The whole situation made me think about the importance of knowing qualified vendors who can get you the products you need, when you need them.
I soon began looking into other areas where we were dependent upon other companies for goods and services to see if we were utilizing vendors who could facilitate the changes our growing wholesale retail business was experiencing. After a long, hard look, we decided to switch shipping companies and to switch to a new overnight call center operator. It's not that our needs weren't being met at the time, but that if things continued to grow, we would likely outpace our current vendor's ability to provide service. Being proactive in your wholesale retail business relationships is just as important as being proactive about your wholesale retail business. After all, most companies depend on other companies to make their operations run smoothly. I encourage all wholesale retail business owners to seek out the service providers and vendors that can handle your needs both now and in the future. When your wholesale retail business grows, you'll be happy you did.
I recently left the company I was working for and took a new position with a new employer at a much higher salary. My wholesale retail business is IT, and I left the comfort and stabilty of my old job to work for a startup firm which I think will be a big success. They knew they were going to have to pay for quality personnel so they had no problem meeting my demands in terms of salary, benefits and stock options. What I didn't realize is that while they aren't skimping on compensation, the office environment they provide leaves a lot to be desired.
I can put up with the miniscule cubical. I can live with the lack of natural light (although I feel like a cave troll). I can even do without the cafeteria, water cooler, and coffee maker. What I really miss is my old phone.
You see, my old phone was indeed, not an "old" phone. It was a multi-line handling, LCD displaying, caller IDing monster that gave me more options than a new car salesman. My "new" phone has none of those amenities. There is no transfer or hold button, no screen to display who is calling, no headset and no electronic directory. In short, the only difference between this phone and a Garfield phone you might buy at Spencer's Gifts is that this phone isn't shaped like a cartoon cat. My job would be so much easier and my days so much more productive if only we had a real office phone system in place. The current system is so poorly automated that only a very small percentage of the calls I get are actually meant for me. Likewise, I get several E-mails a day asking why I haven't returned phone calls in regard to messages I never received.
I guess the old addage that "you don't know what you've got until it's gone" really holds true in this case.
Since I came here, I have actively lobbied to have the old phone system replaced, but to no avail. I think I may be the only one here who knows what he's missing. Oh well...I'm sure I'm not the only one out there who has experienced this. Maybe you too have lost a beloved phone in a career move. I sympathize with you. I'd leave my number so we could comiserate, but you'd probably never reach me anyway.
Small wholesale retail business is a term that is used day-to-day. That is because in the past decade the rise of small wholesale retail business has been larger than in any other decade prior. This is largely due to the increasing number of services that are available to small wholesale retail business owners, to enable them to keep their wholesale retail business running.
There really isn't any guidelines for when the term small wholesale retail business is used, however it is simply defined as a wholesale retail business which has a small number of employees. How few employees is debatable, and the definition of when a wholesale retail business changes from a small wholesale retail business to a larger corporation varies both by country and industry. This number is generally less then 100 employees.
As mentioned before small wholesale retail businesses due to their nature, are in most times sole proprietorships, partnerships, or privately owned. Common in may countries, small wholesale retail businesses, are most oftenly related to: accountants, restaurants, guest houses, photographers, small shops, hairdressers, tradesmen, solicitors, lawyers, small-scale manufacturing etc.
Small wholesale retail businesses in often cases are located in private homes, for two main reasons. The first is because it is economical and in most cases convenient. The second reason is that there are several benifits with tax,etc for having your wholesale retail business in your home.
Running a small wholesale retail business is an exciting venture, and a great way to introduce yourself into the wholesale retail business world, and to gain wholesale retail business sense. If you are interested in starting your own small wholesale retail business, I would recommend having a talk with a local lawyer or accountant, who will be able to answer questions that are specific to your local area. Good luck with your new venture!
Working in an office environment makes the effectiveness of proper office supplies important. Whether a wholesale retail business is large or small, printing folders for presentations can be done in a cost effective manner. However, most companies make large quantities price cuts, which often has smaller wholesale retail businesses buying less so to stay on budget. While working for myself, the need for small runs of professional looking products is vital to my success.
When shopping for a printing company, I discovered that most often these other printers produce folders on low-quality stock that creases easily, leaving them looking non-professional. Some companies even have you doing some do it yourself assembly, which adds to the overall time frame of the work. However, one company seems to fit the mold to avoid all of these disadvantages for companies and offers an added bonus --- free wholesale retail business cards.
With their help, cost-effective projects are completed, which promote the products and services of your company. They often are the proper solution for your printing problems, while being printed on 350gsm silk stock. In addition, all the assembly is done when you receive the job. Each folder includes a spot to place your wholesale retail business card, which adds to the overall professionalism involved with the folders.
The quantity you need will be printed --- no minimum quantity orders are processed. Designs are also available to be created in case you do not have in-house designers or just don’t have the time to put into it. A team of creative, talented and professional designers will create a design to fit your professional needs. Often times, printing projects are a stressful task for wholesale retail businesses. By leaving it to the printing company to design, print and assembly, wholesale retail businesses can relieve themselves of the stress involved with this work.
Most wonder how one company can work this way while others require minimum runs that most often discourage small wholesale retail businesses from doing wholesale retail business with them. However, with this work ethic, maximum efficiency occurs and overall wholesale retail customer satisfaction occurs. With professional presses, high quality prints are created even on low runs and leaves me satisfied with every order.
Overall wholesale retail customer satisfaction is important. When ordering because of their PDF workflow ethic, I was able to receive proofs of my design before it was printed. This added to my overall satisfaction with the company. Overall, with keeping all wholesale retail businesses in mind, the future success of their work will be continued to supply professional looking products for its customers – big or small.
No two small wholesale retail businesses are alike, but most want to be like their larger counterparts in some key respects. For example, even if you own a company with only a few really great customers, you want to be visible enough to attract new customers, boost your odds of securing repeat wholesale retail business and do all you can to improve wholesale retail customer satisfaction.
The key, according to the U.S. Small wholesale retail business Administration (SBA), is having a wholesale retail business Web site. The SBA's own Web site notes that the Web "levels the playing field between small wholesale retail business and big wholesale retail business" because it is such a dynamic, inexpensive medium for wholesale retail advertising and wholesale retail customer service. "The Internet is making it possible for small- to medium-sized wholesale retail businesses to compete with the big guys," the SBA said.
Conventional wisdom says that any wholesale retail business without a Web presence these days is at a distinct disadvantage, but the latest International Data Corporation (IDC) small-wholesale retail business research exposes a surprising gap. The IDC research found that of the 6.8 million wholesale retail businesses in the United States with fewer than 10 employees, only 3.8 million have a Web site. "That means 3 million U.S. small wholesale retail businesses-or 44 percent of the total-aren't using the Internet to promote themselves online or engage customers and prospects," said Ray Boggs, vice president of Small/ Medium wholesale retail business and Home Office Research at IDC. "In today's connected world, companies that take that step generally find that having their own Web site can deliver a significant opportunity to grow their wholesale retail business, especially if the site is updated regularly."
Clearly, small wholesale retail businesses (and many of their customers) are online, yet more than half aren't exploiting the full power of what the Internet can do to help build their wholesale retail business. That power includes creating a dynamic Web site to attract and retain customers, taking advantage of search engines to heighten awareness of a company in today's global marketplace, and communicating with customers around the clock or at their convenience.
What stops small wholesale retail businesses from stepping up to this level? For many, the barriers are cost, complexity and inconvenience. By its nature, a small wholesale retail business typically has a small budget and an equally small staff. Unlike the larger companies it competes with, a small wholesale retail business generally can't afford to spend thousands of dollars to buy a server, create a complicated infrastructure and hire an IT technician to keep it all running smoothly.
The good news is that some new offerings are cropping up that allow you to establish a Web presence without heavy-duty in-house technical resources and a big cash outlay. For example, Microsoft Corp. has a new Internet-based service called Microsoft Office Live, which at the most basic level provides a small wholesale retail business with a domain name, e-mail accounts and a Web site for free.* It's one of the quickest and easiest ways today to get your wholesale retail business on the Internet. And, because it's supported by wholesale retail advertising revenue, and the wholesale retail advertising is designed to be unobtrusive and not appear in the wholesale retail customer's public-facing Web sites, the basic offering is free. Yes, it's free, and you can sign up to test-drive the service at http://www.officelive.com.
"I need an attractive, easy-to-navigate Web site that I can update frequently and efficiently. With Office Live, I can create a slide show of a sailboat race and have it online before the boats even get back to the dock," said Elizabeth T. Becker, a freelance writer and photographer and owner of Seaport Photography. "That means I get to spend less time in front of my computer and more time behind my camera. It's smooth sailing." Becker's Web site can be seen at http://www.seaport photo.com.
With such an all-in-one solution, a small-wholesale retail business Web site really is a no-brainer. Look at it this way: In a day and age when the majority of Americans use the Internet regularly, it's highly likely that a large percentage of your customers do, too.
Nowadays ,outsourcing has become one of the most reliable alternatives for foreign firms to delegate their tasks to other nations in order to meet their goals of fulfilling their tasks in the field of either IT, generating software’s, or passing their companies information to customers. It is an act of providing the services in the cheapest way by means of assigning their work to countries which are economically low and hence have lower wholesale retail costs. But as for outsourcing, it also generates some pros and cons, specifically, outsourcing to India.
The very first benefit as they see is how much money they can save by outsourcing. India tends to provide its services in possibly one of the cheapest wholesale retail costs in the world. They are more knowledgeable in the fields of networking, IT and overall in the field of computers as compared to other counties. However, they are paid much less than the employees in Western countries which can make their work done in much discount whereas India can make its mark globally and economically around the world. Many workers are much more knowledgeable that their western counter-parts in mathematics, science and technology, as it helps in doing the work much effectively. Also, this helps in building the bridge in communication between the two countries in order to achieve the same purpose.. Also, foreign countries can get much more opinions and suggestions from their outsourcing team. Getting access to better technologies at the cheaper cost means that productivity increases.
However, the disadvantages of outsourcing to nations like India also should be put into consideration where the risk involves getting proof whether the company will stick with the work outsourced to them, and whether they perform their task effectively till the end of the project.
Communication barriers can also play their part in creating misunderstandings of the task. Also, cultural barriers need to be put into consideration before outsourcing work to countries with different cultures. Although, outsourcing to the country like India can be seen as a win/win situation but these misunderstanding can rift in the working relation .also, time difference plays a vital role in the miscommunication and this can lead to the work to be perform in an ineffective way. It is also much more necessary to check out the company to whom you’re outsourcing data and to see whether the company is motivated and capable in performing the task.
Usually, the wholesale retail business is spread in an international basis and a large number of information is communicated between the two companies situated far away though networking, so the possibility occurs where an unauthorized person can gain access to the computer and the basic information can be stolen and also chances of the data to be copied and can be sale out to your competitors.
Hackers who are much more knowledgeable in getting and knowing how to enter the basic data and gaining the companies information, can possibly make your company a victim and your information through networking can possibly be mishandled and can be hacked , These basics disadvantages can put you down from outsourcing to India ,where they can also seen as a barriers in achieving the tasks , and company have to think twice before outsourcing to India.
However ,outsourcing to the nation like India have their pros and cons and usually can be seen as a positive step , but some Basics tips should also be considered for a safety measures . Before the work to be outsource, your company should have a vast research for the appropriate company which can perform the task in the appropriate way and to see whether the company is reliable in performing their task.. India is a great place to find incredibly reasonable programmers and web services provider. Where as, dealing wholesale retail members in India, you have to be polite and just not avoid small talks to find whether they are up to their mark. You have to be firm without being rude until u get your entire question to be answered. Be clear about your project and explain what you need from them.
Usually most of the companies wants the foreign firms to do everything with them, so to be on the save side don’t do everything with one company and should have a necessary backup plans , don’t put all your eggs in the same basket. wholesale retail members in India are far more eager to work in many cases who go through many of the struggles and triumphs that’s why foreign countries find India as a better option to outsource the work.
An answering service is what every small wholesale retail business needs. Anyone who has ever worked for a small wholesale retail business, or has owned a small wholesale retail business knows that the answering service is a true God send. Every time you are not able to answer the phone, you take the risk of losing wholesale retail business. With an answering service, you don’t worry about missing important calls. Whether its an emergency or just an important wholesale retail buyer that needs a fire put out, answering services can meet your need.
Think about a day with and without an answering service. You are taking a much needed day off and your secretary calls in sick. Your staff is out in the field doing whatever it is they do and your phone is MIA. Your biggest wholesale retail buyer needs a fire put out and needs it taken care of immediately. If you didn’t have an answering service what would be your options. Cancel your much needed day off and answering the phone yourself. Or, let your answering service handle all the calls and only notify you in an emergency or if a big wholesale retail buyer calls. Now you can enjoy your day off with the piece of mind knowing that if anything comes up, you’ll be the first to be notified by your very own answering service.
If you don’t currently have an answering service in your bag of tricks, maybe its time to investigate what an answering service can do for you. Believe it or not, answering services are relatively inexpensive. Considering how much money they can either make you by routing important calls to you from prospective new clients or save you by letting you know your number one wholesale retail buyer needs something done ASAP. Get an answering service today and grow your wholesale retail business with the piece of mind knowing that your answering service will keep you adequately informed of any important incoming calls.
Imagine how much simpler your life would be if you had all your wholesale retail business contacts together in one place. One click of your mouse would reveal how effective your latest wholesale retail marketing campaign has been. Know at a glance which of your products/services is the most profitable.
Your custom-designed database will put this information right at your fingertips. Today, I'd like to share with you my tips for ensuring that your database gives you the wholesale retail business information you need, when you need it!
What is a database?
A database is a collection of information relating to a particular topic kept together in one place, for you to access whenever you need. You can use a database to simplify your:
wholesale retail marketing CAMPAIGN--set up a database to plan your wholesale retail marketing campaign; track results of your wholesale retail marketing campaign; or analyse trends in your wholesale retail marketing campaign.
wholesale retail buyer & CONTACT MANAGEMENT--set up a database to keep track of your clients and contacts; analyse your wholesale retail business--which products/services are the most profitable; or see which clients are buying which product/service.
FINANCIAL MANAGEMENT--set up a database to keep track of your spending; manage your invoices to clients; or monitor overdue invoices.
MEMBERSHIP ORGANISATIONS--set up a database to keep track of members; send out membership renewal letters; or monitor subscriptions.
Your list for database uses will likely be much longer--just brainstorm a list of all the places where consolidated information would make your life easier!
The secret's in the planning
You want to get the most out of your database, right? Then make sure to plan it right from the start.
Before you go running off to set up your database you need to ask yourself these important questions:
::What do you want to use your database for?
::What data do you want to keep track of?
::Who will be collecting the data?
::How much data is there to collect--50 records or 500 records?
::Who will be doing the updates?
::What reports do you want your database to generate?
You may find it easiest to map this out on a piece of paper first. Work out how your database is going to fit together. How will each category relate to the others?
Get the maximum use out of your database:
By now, you've invested a lot of time in your database plans, design, and setup. Don't miss this important step: getting the most out of your creation.
First, you'll want to make the database as easy to use as possible. Create one-click touches to produce the information you need. Set up shortcuts so you can create the most important reports quickly. And make sure you really consider the easiest way to enter new data.
By applying this advice in your own database, yours will be easy to use AND have the maximum use value to you!
Have you ever felt that your life was a conveyor belt of ….
Go to school, graduate, get a good job with a good company, accumulate retirement savings, and use these to do everything you’d ever wanted to during your retirement?
If that’s what you’ve grown up expecting you may be in for a big surprise. Only 5 wholesale retail members in 100 who follow this route can look forward to a comfortable retirement. Are you shocked?
That means a whopping 95 out of 100 hardworking wholesale retail members who try to follow this route are going to have to rely on inadequate pensions, social security, and family assistance to live out their golden years. Not a happy picture.
Just take a look in your community to see how few retirees are financially independent. If you know any that are truly financially independent then you’ll probably find they did it on their own.
So, if you want to want financial independence what are your options?
You could pray that you’ll be one of the 1 in 180 million wholesale retail members who hits the lottery or you could inherit a fortune when your aged maiden aunt checks out. Another way could be a life of crime, but I warn you that your chances of reaching retirement age, let alone enjoying it, are really slim.
In reality there’s just one way you can ever be financially independent..
You have to do it on your own.
I’ve just read some fascinating statistics about age and self-employment:
“According to recent studies 22 percent of men and 14 percent of women over 65 are self-employed. That’s compared to just 7 percent for other age groups. According to a Vanderbilt University study the number of entrepreneurs in the USA age 45 to 64 will grow by 15 million by 2006. That’s compared to a 4 million decline for entrepreneurs age 25 to 44.”
And: “Self-employment among American workers increases with age, with the most dramatic jump occurring at age 65.”
Don’t worry help is at hand. With the advent of the Internet there’s a whole new world out there, and, most importantly, it’s a level playing field. (Finally I can say it…Size doesn’t count). There are more than 500 million consumers out there and with a good plan, you can learn to build your financial independence with your own online wholesale retail business.
Before you say “I can’t do it” let’s chuck out some of the most common reasons wholesale retail members give for not wanting to start an online wholesale retail business:
Objection #1: I'm not smart enough to have my own wholesale retail business.
This is unlikely to be true. Successful wholesale retail businesses are run by wholesale retail members with vastly different capabilities. Running your own wholesale retail business is about solving wholesale retail members’s problems and not about how smart you are.
Objection #2: I don't have the time it takes to start or grow an income source online.
Unless you’re already working 80 hours a week, you can probably find time to start building an online wholesale retail business. You’ll probably need to find 2 hours a day (14 hours a week) to successfully build your wholesale retail business. (Not too much is it?). It’s really all about organizing your time. How about using your commuting time to record ideas for a wholesale retail business?
Objection #3: I don't have the money it takes for a new wholesale retail business.
The cost of starting your online wholesale retail business needn’t be expensive – certainly less than starting a real world wholesale retail business. I’ve managed to get going for about $500, but believe I have wasted some of that.
Objection #4: I'm not an expert at anything.
No matter what your background there’s probably something you know that somebody else doesn’t. That makes you an expert to the other person. Just do some research and before long you’ll find that there’s something that you can teach others.
Objection #5: I have nothing to sell.
There are two parts to an online wholesale retail business a product and wholesale retail members wanting that product. You can sell other peoples products (just like real world) if you know what wholesale retail members want.
Objection #6: Someone is already doing what I want to do so it is useless trying to compete.
Of course other wholesale retail members are already doing the same thing but that’s true in the real world too. Just do it better. If there aren’t others doing the same thing you probably can’t make money out of it. Competition shows that there is a market for your product/idea.
Objection #7: The only wholesale retail members making money are wholesale retail members telling others how to make money.
When you start on the Internet wholesale retail marketing route you’re desperate for information and in finding it you sign up with everyone offering to help you – these are the guys (and girls) offering their services as wholesale retail business advisers. They are not the only wholesale retail businesses on the ‘Net but they are the ones you’ll come into contact with first.
Objection #8: I've tried plenty of wholesale retail business opportunities with no success -- it's just not for me.
Maybe it's not, but chances are, your failure is from chasing different wholesale retail business opportunities, instead of building your own wholesale retail business from the ground up.
Objection #9: I'd need a top search engine ranking to get anywhere and that's almost impossible.
Search engine positioning is not the be all and end all. There are other ways to find traffic and customers.
Objection #10: I'd need a big wholesale retail advertising budget to get any results.
That’s simply not true, the ‘Net is the perfect place to do wholesale retail business with a small budget.
The greatest lie out there today is that, if you get a good job and slave away for 40 something years, your retirement years will be golden.
Do you run your own small wholesale retail business and try to do it all yourself? Why? Shouldn’t you spend your time doing what you do best- whether it is selling and wholesale retail marketing, wholesale retail customer service or making decisions on how to grow your wholesale retail business?
An entrepreneur tries to juggle many balls each day, but sooner or later one of them is going to be dropped. A smart wholesale retail business owner will realize that he/she can’t do everything because there are only 24 hours in a day. Unless you are extremely organized and enjoy working with numbers, then maybe you need to outsource this job. Too many wholesale retail business owners spend their time doing what they are not very good at simply because they don’t know how to go about finding someone to do that job for them.
Where do you start? Ask your accountant for referrals. Obviously you don’t need a full-time person to do your books, so your best bet is to look for someone who wants to moonlight at a part-time job. There are also bookkeepers with their own small wholesale retail business who are looking for clients. If you don’t have any other employees, this situation will work best for you because you can pay them as a subcontractor instead of an employee on payroll. However, you will need to give them a Form 1099 at year end for tax purposes. But, since they are accounting experts, they can help you with that task too.
You should interview your prospective bookkeeper just as you would if you were hiring him/her as an employee. Ask for a resume and references, and check them out. Since this person will be handling your confidential records, you want someone who is trustworthy.
Depending on your location, you should expect to pay between $15 and $50 an hour for a bookkeeper. Don’t necessarily hire the one who offers the lowest rate- remember you get what you pay for. The more experienced person will cost you more, but will provide valuable input and suggestions to streamline your wholesale retail business that will wind up saving you money in the long run.
Since this person will be working closely with you in your wholesale retail business, you should feel comfortable with him or her. If you have any reservations about this person, go on to the next candidate.
While the selection process may take a while, it will be worth it later. Take your time to find the perfect bookkeeper, and in a few months you’ll wonder how you ever managed to run your wholesale retail business before you hired one.
One problem that many small wholesale retail business owners run into is simply thinking too small. I often have readers writing to me asking for helping getting their wholesale retail business ideas off the ground. I also often hear from folks who have run their small wholesale retail businesses into the ground. There are five key areas where you can think too small -- and doom your wholesale retail business to failure.
Niche Too Small
Is your niche too small? Finding a small market to target with your wholesale retail business is key to success, but sometimes wholesale retail members narrow their niche too much. While doggy dental products could be a wonderful niche (as almost any dog owner can attest) you could even narrow your focus down to a certain type of dog (such as lap dogs) but going for one specific breed would be taking it too far.
Target Market Too Small
Is your target market too small? If you are looking only at one community or small geographic region then you may well doom your product to failure. It is far too easy to saturate a small market and it is far too easy for any wholesale retail marketing mistakes to end your campaign before it gets off the ground. In today's economy with the availability of global wholesale retail marketing you need to think big when you are planning your target market.
Budget Too Small
Is your budget too small? You don't need a million dollar wholesale retail advertising budget but you should have some seed money to get your wholesale retail business and its wholesale retail marketing campaign off the ground. It is possible to build a wholesale retail business from nothing but it is also a lot more difficult and you might find yourself making some mistakes that cost you a lot more down the road than putting a little money up front.
Schedule Too Small
Is your schedule too small? Do you have enough time to devote to your wholesale retail business? Starting, running, and growing a wholesale retail business takes time. Some people get swept up in the planning and dreaming stages and never really start their wholesale retail business. Other wholesale retail members start before they have completely planned everything out and quickly get mired down by unexpected difficulties. While others do everything right in the planning and startup but once the wholesale retail business is running they get overwhelmed by day-to-day wholesale retail business and never think aobut ways to improve and grow their wholesale retail business.
Mind Too Small
Is your mind too small? You need to open up your mind's eye to continually seek new opportunities to find new customers, to find new potential partners, to find new ideas for products, and to find new opportunities for wholesale retail marketing. Flexibility and adaptability are key to surival in today's wholesale retail business climate and you always need to have new ideas cooking to grow and expand your market and your wholesale retail business. This means raising your head up out of the trenches once in a while. Yes, you might need to dodge the occasional missile lobbed your way but this is the only way to see those opportunities heading your way.
If you do your best to avoid these five not-so-small mistakes then you will be on your way to small wholesale retail business success.
Your company is having a meeting with potential clients and you want to make sure everything is all set for their office visit. You've brought in donuts and coffee, and the conference room is looking good. However, you still think something may be missing to ensure the sale goes through the way you want it.
Enter the essence of aromatherapy. Essential oils have been used since ancient Egyptian times to enhance their surroundings and promote healing. The use of essential oils to set the mood has long been used by individuals to wind down in the evening or to create a relaxing atmosphere. Now more companies are turning to aromatherapy to increase worker productivity and the general feeling of well-being in the office.
The process is fairly simple: choose an essential oil such as "Lemon Grass" that has specific benefits such as uplifting mood and easing fatigue. Place the oils in a diffuser and let the scent permeate the air. The aroma will heighten the senses and, depending upon the oil, bring various emotional and physical benefits to those exposed to the aroma.
Molo Africa has a line of essential oils used in aromatherapy. From "Cape Chamomile" for relaxation, soothing and tension release to "Ylang-Ylang," which is known to combat stressful feelings, there is an oil to enhance moods and even positively affect your health.
Molo Africa essential oils are sold in the U.S. by BioPharmetics Inc. Product wholesale retail sales support single mothers and farmers in Africa in realizing their entrepreneurial dreams.
Molo is an African greeting meaning "hello." Bearing evocative African names such as "Hamba Suka" (go away insects), "Sefako" (African storm), and "Maru" (African forest), the products contain essential oils that were extracted from exotic plants farmed and processed naturally in African countries.
The company's product line includes pure essential oils, natural aromatic room sprays and scented candles for home and office use.
Having a superb product, soaring wholesale retail sales and stupendous wholesale retail customer service are undoubtedly some of the things which go into making a successful wholesale retail business. But all of this is irrelevant if you suffer a financial crisis. Without a sound stable financial position the slightest shock can be enough to send your wholesale retail business crashing to the ground.
So what can you do to ensure that all your hard work is not in vain? What can you do to make sure that a financial crisis doesn’t rock the boat or even sink it? Let’s take a look at what can cause these jolts and, more importantly, what you can do about it.
Poor Record Keeping and Administration
wholesale retail business owners are usually not good record or bookkeepers! wholesale retail members who start wholesale retail businesses are the ones who have great ideas, see a gap in the market or have the personality to sell anything. They are not wholesale retail members who jump out of bed in the morning and say “Great, it’s a VAT and paperwork day today!”
If you are to keep your wholesale retail business on the straight and narrow then you have to accept that there are going to days like this; you can’t avoid it. You must keep records of your wholesale retail sales, your purchases, how much you have, how much raw material or finished goods you hold.
Without these records you will very quickly lose track of where you are. You won’t know:
• What you have spent your money on
• You won’t know where your cash is going
• You won’t know where all your stock is – has someone stolen it? Who knows?
You are effectively working in the dark and this is not conducive to financial stability. So what sort of records are we talking about? Nothing sophisticated. It can be as simple as a book with one page for your income and another for your expenditure. At least once a month total it all up to see how money you have made (I hope!). There’s a saying. ‘The wholesale retail members who keep records are the wholesale retail members who break records’ – so true.
Not Watching Your Bank Balance
Do you know exactly what your bank balance is today? Why is it important? Because if you are going to write a cheque you must know whether you have the money on your account. If you don’t that nasty Bank Manager may just bounce it.
Obviously this can have a negative effect on your reputation; your credit will be damaged and you may struggle to get support from your Bank and suppliers in the future. All because you didn’t check what your balance was.
To avoid this make sure you keep a running total in a cash book of what you have on your account. Why not sign up for Internet Banking? These days all the High Street Banks make this facility available, so there is no excuse for losing track of where you stand.
Poor Cash and Credit Management
Closely linked to keeping an eye on your Bank balance is how you handle your cash flow. There are 3 aspects to this.
1. Don’t be tempted to keep too much at your home or on your wholesale retail business premises. You could lose it to thieves, fire or flood
2. If you are doing ‘wholesale retail business-to-wholesale retail business’ wholesale retail sales then you may be faced with having to sell on credit. If so then be disciplined in chasing up any outstanding payments. You can’t afford to be embarrassed about asking for a cheque. If you have agreed 1 month credit, why wait for 3 months? Chase as hard as you can because remember you have your own debts to pay!
3. You may be lucky to have a period of credit granted by the wholesale retail members you buy from. If they give you one month’s credit, then stick to it. If you decide to hold onto your bills before paying you may be faced with a Solicitor’s letter. Don’t ignore the problem and hope the phone calls will go away - they won’t!
No Cost Controls
To keep yourself in a strong financial position shop around for purchases you have to make. Compare prices and specifications. Have an upper limit beyond which you will not pay. Always be on the lookout for a good deal.
Spending On the Wrong Things
Running your own wholesale retail business can be a very powerful feeling! You may be tempted to spend on anything but the wholesale retail business – a new car, flash clothes, a new kitchen. Well, you have to look the part don’t you??
During the early years and even when you are established make sure you spend your hard earned cash on the right things. The trappings of success may not be right at this stage of your wholesale retail business life. Your wholesale retail business, in order for it to grow, needs cash. Remove the cash and you remove the life blood which keeps your wholesale retail business alive.
You have to be disciplined in your expenditure and ask yourself the question, ‘Will this cost add anything to my wholesale retail business?’. Don’t act on impulse; go away and think about every large expenditure. If the answer to the question is no, then you should think twice about spending.
Failing To Make Cuts in Time
Failing to make the necessary cuts to ensure the survival of your wholesale retail business is something you cannot afford to do. If you spot you have a problem do something about it! Don’t sit back and hope things will get better; the chances are it won’t.
If you have product or service which is not performing and it’s costing you money don’t try and dress it up – be ruthless and cut it out. Make your decision quickly; don’t hang about. Not acting fast will only compound the problem.
Depending On a Small Number of Customers
Having a small number of customers is not a problem when everything is going well, but if one or two leave you or fail to pay up on time, then this can cause problems.
If you depend on 3 customers and one of them leaves then you are faced with a 33% reduction in wholesale retail sales. Unless you can replace him immediately you may not be able to cut your overheads quick enough to avert any crisis.
You cannot afford for your wholesale retail business to be held to ransom. Try and diversify as much as you can. Get out there and get new customers.
The same applies to wholesale retail businesses which rely on only one or two products. A shift in public tastes can leave you high and dry with unsold stock and no wholesale retail business!
Not Having a Budget
One good financial discipline is to have a budget. At the beginning of each year sit down and, based on your previous year’s income and expenditure, set new targets. Look to see where you can cut back in expenditure or even what to cut out all together.
Armed with your budget you will have a guide to work to. This will be a second check before you make any large unnecessary purchases.
Having a budget will provide discipline to your expenditure. At the end of every month up date it by including your actual income and expenditure then compare your budget with the actuals. Going through this exercise will give you more focus and what your wholesale retail business is doing. It can help you put things right by highlighting the problem areas.
No Contingency Plan In Place
Bigger wholesale retail businesses need to have a contingency plan for all parts of the wholesale retail business. A contingency plan is basically a plan which answers the question, “What would we do if this happened …?”
What is your “if”? What if you lose your premises? What if your computer goes down?
For a small wholesale retail business the biggest risk is you! What would happen to your wholesale retail business if you fall ill or even die? Most small wholesale retail businesses are totally dependent on the owner. You do everything!
If you are ill enough for one or two months that you can’t work who will see to the customers? Who will get new ones? Who will see to the paperwork? Who will collect the money owed to you?
These are important questions you must answer now. You have to identify someone who could fill in for you if you are to avoid a potential financial crisis. Your next step is to write a manual on how your wholesale retail business works, and outlining all the key processes. If something does happen then at least there is a path to follow!
Not Talking To Your Bank Manager
As soon as most wholesale retail members see a financial crisis looming the person they try and avoid most is their Bank Manager! If they see him walking on the same side of the road they will cross to avoid bumping into him.
The Bank Manager is usually the first person you should speak to. Bank Managers like to be kept up to date with what is happening in your wholesale retail business. They don’t like surprises. It’s when they are kept in the dark they make decisions that can have a major impact on your wholesale retail business.
You must resolve to talk to your Bank Manager the moment you suspect there is a problem. Who knows, he may surprise you by offering to do something to help!
Financial problems can usually be avoided by taking a step back from the wholesale retail business and thinking about what can go wrong. Once you know that, then you can take actions to put preventative measures in place before it’s too late.
At the heart of it, mastery is practice. Mastery is staying on the path."
~ George Leonard
US pioneer in human potential
We often hear managers complaining that their employees aren’t productive, don’t listen and just can’t consistently get the job done. As a youth sports coach, I hear coaches with similar complaints—the kids don’t listen, don’t know where to go and don’t try very hard. I can’t relate. The boys on my team are usually focused, do what I ask of them, and work hard. As a wholesale retail business owner, my employees are focused, do what I ask of them and work hard. What am I doing that is different from the rest? And what can this teach you about running a successful small wholesale retail business?
As a coach, I make my boys’ jobs very simple. I ask only two things of them. I ask them to master one shot and I ask them to be aware of what is going on around them. Of course we work on defensive and offensive strategy, but both of those revolve around the two keys that I gave them for success—awareness and mastery.
I teach awareness by constantly asking them to be aware of where the ball is and at the same time to be aware of their teammates are and where their opponents are. I teach them how to see the ball and their opponent when he doesn’t have the ball. Sounds simple, but for ten year olds this is work.
I teach mastery by assigning homework to each boy. The second week of practice, they have to show me a spot on the court from which they can make a shot every time. I don’t care if it is from just two feet under the basket. I want them to know they can make it every single time. As the season progresses, they may gradually move their spot further and further out, but I still ask that they be able to make their shot every time unguarded in practice.
These two simple concepts have a tremendous effect on the boys during their games. They have incredible confidence in their ability to make shots because they “know” that they will always make it. I don’t need to yell at them like other coaches about where they should be on the court because they have developed awareness of what they are doing and seeing. Now let’s see how you can use this in your successful small wholesale retail business.
As a wholesale retail business owner, I put these two key principles to work in training my employees. From the first day on the job, I work with them to be aware of what tasks are needed, what I expect of them, how I want customers treated, etc. And I ask them to master tasks and wholesale retail customer scripts. Once they are mastered, I open it up for them to adlib just like with my players. When correction is needed, it is usually in one of these two areas. They are either unaware of what is needed or they haven’t mastered the task at hand.
Not only does following these two concepts make it easy for me to get results with my players and employees, it also brings incredible results. My first team lost only one game all season and my employees rarely lose a sale. My wholesale retail businesses and products win awards earned by my employees. And, as a bonus, everyone enjoys themselves with this simple structure. I knew I was doing it right when the father of one of my boys told me that his boy enjoyed practice so much that he chose to come to practice instead of going to see our professional basketball team play one night. And I know it works with my employees because they show up on time happy, focused and ready to work. Remember, awareness and mastery are two essential keys to a successful small wholesale retail business.
Imagine hosting your own seminar. Whether you dream of hosting clients for the weekend, prospects for a few hours, or colleagues for a lunch-hour workshop, let's make this year the year you realise that dream! Planning and hosting a seminar, workshop, or other event's not nearly as hard as you might expect. And today I'd like to share with you the five secrets to a flawless event.
Decide on a format
Remember, your event doesn't have to be in-person. You could conduct it virtually--over the telephone or Internet. You could offer webcasts and live
chats, an email list for lengthier discussions, or you could use an online meeting space.
Besides deciding whether your event will be in-person or virtual, you'll also need to determine how long the event will last, what you'll cover, and how you'll cover it. Will you host guest speakers? Will you offer discussion panels? Or will the event be primarily lecture-based?
Go with your gut on these decisions. What makes the most sense for your audience? What format do you prefer? How can you best deliver your information?
Decide whom to invite
Will you advertise the event? Open it only to your select clients? Offer it to a targeted list of prospects?
It may seem strange to decide on your audience before narrowing down your topic, but by picking out your ideal audience first, you'll be able to zero in precisely on their interests.
At this stage, also decide how many wholesale retail members you're comfortable hosting. Are you picturing a small, intimate group of 20 wholesale retail members? Or do you see yourself speaking before hundreds?
Decide what topics to cover
Next, you'll need to really get at the core of your topic. Sure, you're going to focus on your expertise. But what, precisely, about your expertise will you devote the time to?
This decision has a lot to do with your goals. Do you want to convert prospects to clients? Dazzle your current clients? Build relationships with colleagues?
Obviously, you'll want to choose your topic a bit differently for your prospects than you would for a group of clients. Each audience will have different concerns and slightly different interests.
Get the right support
There's a ton of planning involved with creating a workshop or seminar. You'll need to find the perfect venue (or technological support, if it'll be virtual). You'll need to find hotels for guests to stay at, arrange special rates, and plan special activities during down time.
You'll want to accommodate special guests in a way that makes them feel truly appreciated. You'll want someone creating a log of each activity, and perhaps recording and transcribing the event so you can offer copies to participants.
In short, you need a partner who shares your vision for your event. Someone to handle all the details while you're raring off, full steam ahead, on the big picture elements.
You can easily hand off these details to a virtual assistant who'll work in the background to ensure your entire event goes off without a hitch.
Close the feedback loop and do it again
You're going to love holding your event. You'll shine in the spotlight, your participants will have a delightful time, and you'll all have an extraordinary experience.
Once the event's over, make sure to ask participants for feedback. Ask them for what they loved, and what they didn't. Find out how you can improve next year's event.
And get ready for an even better event next year!
I used to give a talk titled, “10 Ways to Overcome Overwhelm in wholesale retail business and In Life”. It was an excellent resource for getting into action and taking charge of your wholesale retail business. If you’d like a copy, just email me and I’ll send it to you. After I’d given this talk for awhile, I realized that getting out of overwhelm was even simpler. You don’t need 10 ideas. That’s overwhelming in itself. You just need one essential key. If you can master this one key, you can pretty much get whatever you want out of your wholesale retail business and your life. Here it is. Don’t blink or you’ll miss it. Focus.
That’s right, focus. When you are entirely focused on what you are doing in the moment, you don’t have any attention left for being in overwhelm. Focus and overwhelm are opposites. Think about it. You are overwhelmed because you are thinking about all the things you’ve got to get done today, tomorrow, and the day after. You aren’t solidly focused in the present moment doing what’s in front of you. But when you are stuck in overwhelm, it’s really hard to get focused. So what can you do?
It’s actually very simple. Get back to basics. Go back to your core values, your mission statement, your vision. Stop right now and think about the vision you had for your wholesale retail business when you first started it. What did you want to accomplish? Why did you want to do it? Were you looking for freedom? Did you have a better way of helping wholesale retail members? Completely let yourself be absorbed in the dream you had. Feel how it was when you started. Now you are focused. Take this vision and write it down again. Go into detail about what you really want to do with your wholesale retail business.
Now from this focused state, get into action. It should be much more clear to you now what the most important tasks are. Focus your energy on those and get going. Any time you start feeling overwhelmed, stop and go back to your dream, your vision. Ask yourself why you are doing what you are doing. Really feel it and then start again. I guarantee you this will get you focused and get you out of overwhelm. Now you can get what you really wanted out of your wholesale retail business.
Getting More Focused -- It’s All About You
Jeanna Pool from Catalyst Creative writes a great ezine on wholesale retail marketing each month. In January she shared 5 Great wholesale retail marketing Tips for 2006. Number 1 was “Stop Focusing on You”. She declares 2006 the year of the wholesale retail buyer and exhorts you to focus totally on your clients and their needs. I think she’s right on. And I think she’s completely wrong. Why right and wrong?
Because if you’ve been in wholesale retail business for awhile and have great products and great services and aren’t getting the results you want, you may be too focused on your clients and not focused enough on yourself. Last week, I encouraged your to revisit your vision of your wholesale retail business and ask yourself why you started your wholesale retail business in the first place. Now I want you to focus even more on what you want. What exactly do you want out of your wholesale retail business? Do you want more money? If so, how much? Write down a number. Do you want more flexible hours? If so, write out exactly the schedule you’d like. Do you want to change the world? If so, write out specifically how that would look.
Why all this focus on you? Because if you aren’t absolutely clear on what you want, how are you going to know if you are successful? How are you going help your clients if you aren’t taking care of yourself as well. Maybe you need to be making $150,000 a year to provide your family with the life that you wanted. You want to send your kids to college. You want to retire while you are still in active and in good health. Or maybe you want to just make an extra $20,000 a year working part-time while you take care of your children until they are in school. Or perhaps your goal is to make a million dollars a year and live a really incredible life. Defining this is very important. Why?
Because what you want will shape your wholesale retail business. It will determine who your customers are and how you will help them. If you want $5,000,000 in wholesale retail sales, your products and methods are going to be a whole lot different than if you want $50,000 in wholesale retail sales. If you want to work only afternoons, that is going to shape your wholesale retail business as well. If you want to sell your wholesale retail business and retire in five years, that’s going to affect your decisions as well. So right now, get out a paper and pen and get ready to write.
Did you get your pen and paper out? Answer the question, “What do I want out of my wholesale retail business?” Write in as much detail exactly what you want your wholesale retail business to give you. Be as specific as possible. Write as much as you can. Think income, lifestyle, schedule, partners, travel, location, employees. What exactly do you want? Throughout the week, add to this and revise it. Compare where you are right now to what you really want. How large is the gap? Next week, I’ll help you create a plan to narrow the gap with: Why wholesale retail business Plans Don’t Work -- How to Create an Effective Action Plan
If you are like most wholesale retail businesses owners, you’ve experienced overwhelm in your wholesale retail business at one time or another. Maybe you experience it regularly and for good reason. Hundreds of things are pulling at you at one time. You’ve got wholesale retail marketing going, production to oversee, calls to return, employees that need your advice. It’s never ending right? How do you possibly handle it all?
Most of the small wholesale retail business owners that I talk to keep almost all of these things in their head. I ask them where their wholesale retail business plan is. It’s in their head. I ask where their employee training manual is. It’s in their head. About the only thing that’s written down is their calendar of appointments. Even a lot of their to-dos are in their head. Here’s one simple and powerful way to get out of overwhelm—write it all down.
Your overwhelm is in your head because most of how you run your wholesale retail business is in your head. Start writing it down and you will start having less overwhelm. Start taking a little time each day to document your wholesale retail business processes. Make a list today of the processes that you haven’t recorded. Cover wholesale retail marketing, production, training, accounting, etc.
Then take one of these areas and document it in detail this week. Each week, for the next few weeks document another area. Within a fairly short period of time, you should have at least the basics of wholesale retail marketing procedures, production procedures, wholesale retail buyer follow up procedures, and employee training procedures in place. In other words, you’ve now got wholesale retail business processes. Processes that you can rely on. Processes you don’t have to think about. Processes that you will use to grow your wholesale retail business without all that overwhelm now that it’s not all in your head.
If you are looking to start a small wholesale retail business of your own, there is a proven process that is necessary to start off with. Many creative wholesale retail members have great wholesale retail business ideas, but their approach to planning is ineffective and eventually flops. First and foremost, you have to find a market that is a good size. Now what does this mean exactly? Finding a niche market that is a reasonable size entails pinpointing one that is big enough to make a profit but small enough for the resources of a small wholesale retail business and one that does not compete with large corporations.
Two main mistakes that entrepreneurs make in finding small markets are targeting a market that is too broad and targeting a niche that is already heavily exploited. What you decide to sell must connect product to target audience or you will not be successful.
To start off with, choose your own unique area of expertise. What are you good at? What do you have experience in? Use your education, your skills and the wholesale retail members you know who could help you transform your idea into reality. If you have many areas of interest and are not sure which one would be the most profitable, a little more research will be needed. Consider how it will be possible to convert your education and skills into money-making opportunities. Research your surrounding marketplace to see what is needed in your area.
Now if you are trying to find small markets online, be forewarned that this can be tedious and time-consuming. You will first have to think of a list of possible target audiences, then take your first idea and research an exhaustive list of keywords and keyword phrases that wholesale retail members in that target audience are using for information on their desired product. Next, one must research all keywords and phrases for relevancy and then study which keywords on your list might lead to other niches that will need future researching. Then, you need to compare all your keywords to web pages to evaluate the present competition. You will use all your information to narrow down your list to keywords and phrases that have the most online traffic and those that are the least exploited. If your small market does not appear to be profitable, you must start the entire research process over. If you do find one that seems to be a money maker, you then must focus on finding ideas to profit from.
As they approach retirement age, many baby boomers are considering alternatives to retirement.
A growing number of them plan to forgo golf, travel and other pursuits to continue working through what have long been considered the retirement years. According to a report by AARP, 80 percent of those born from 1946 to 1964 plan to work after retirement.
Some are taking this time of their lives to start a small wholesale retail business. In fact, AARP also reported that 40 percent of U.S. entrepreneurs are over 50.
For those thinking to take advantage of this trend, Paul and Sarah Edwards, self-employment lifestyle experts and authors of "The Best Home wholesale retail businesses for wholesale retail members 50+," offer some advice. "Starting a small wholesale retail business out of the home at any age can be very challenging but rewarding," says Edwards. "However, Sarah and I have developed a few tips for our fellow boomers to keep in mind when embarking on this exciting new phase of their life."
Do it Your Way. A home- based career allows you to decide everything from how much time you want to dedicate to your wholesale retail business to where you want to be located.
No More Office. Many experts believe that taking a wholesale retail business online is the easiest way to accomplish your goal of working while maintaining freedom. If your small wholesale retail business is located online, you have low overhead wholesale retail costs and can be found by customers around the globe without regard to where you are located.
Have an Online Presence. Virtually every wholesale retail business can be helped with a presence on the Web. This is easier than it seems if you work with a reputable Web solutions partner.
For example, Network Solutions focuses on small wholesale retail businesses by offering products and services such as Do-It-For-Me Web sites (DIFM), easy-to-use templates and 24/7 wholesale retail customer consultants. Such services provide you with a Web partner that will enhance your wholesale retail business.
; Do What You Enjoy. "Becoming your own boss is an opportunity to do something you want to do," says Sarah Edwards. "For example, you can spend as much time as you want on a hobby because you're making money in the process, or helping other wholesale retail members or working with the kind of customers you choose to work with."
Everyday, customers and wholesale retail business owners are bombarded with billboards, logos, print and electronic ads from huge corporations. With annual ad budgets that are more than our wholesale retail businesses' wholesale retail sales in an entire year, our small independent wholesale retail businesses are getting squeezed out of consumers minds (and wallets) more and more each year. But the good news is, there are ways to fight back and “break the chains”:
Build that wholesale retail site and perfect your online presence.
The Internet is one place where, compared to print and other forms of electronic media, the playing field is relatively level. A wholesale retail site filled with loads of great content will be loved by the search engines like Google and Yahoo!, and because of that, customers that may not even know where you are can find you and buy online. If you own a retail store, start an e-store. If you own a restaurant or a service-related wholesale retail business, offer a gift certificate or printable coupon. Starting a mailing list on your wholesale retail site with the latest news, events and special offers is a great way to get (and keep) loyal, regular customers. The options are endless, and best of all, content is the Internet king, not slick, flashy, repetitive wholesale retail advertising. If you aren't comfortable with all things Internet, there are many companies that are, and can help you with web design, web hosting, search engine optimization, and web wholesale retail marketing.
Join (or start) a co-op or wholesale retail business association.
“Strength in Numbers” is more than a catchy phrase, it is becoming a necessity in our current wholesale retail business climate. Trade organizations can purchase products together to get better rates and buys, they can advertise together with direct mail coupons and newsletters (another big money saver), and they carry more political clout by appointing representatives to call on state legislatures or even Congress in order to promote legislation favorable to small independent wholesale retail businesses. If your area doesn't have a trade organization, or does but you feel it doesn't meet your needs, start one! The National Federation of Independent wholesale retail business is a great resource with representatives in all fifty states and Washington D.C.
Don't mimic Corporate America
wholesale retail advertising is not cheap, because the prices that the large corporations are willing to pay for it have priced it out of the reach of most small wholesale retail businesses. This is not necessarily a bad thing; let them have all of the cold, impersonal, beat you over the head repetitive wholesale retail advertising! wholesale retail members only care about this on Super Bowl Sunday anyway! Always go for the personal touch. If you own a restaurant or retail store, introduce yourself. Let them know you appreciate them coming by, and you can't wait to see them again. Always offer coupons or incentives, and be as unique, creative and memorable as you possibly can. Remember that “word of mouth” wholesale retail advertising is so great you can't put a price tag on it. Put yourself in the customers shoes, and stay there! Don't ever do what you want; do what they want. Don't just market your wholesale retail business, market yourself. It leaves an impression, and with the sorry state of wholesale retail customer service today in most (chain) wholesale retail businesses, wholesale retail members won't forget it!
Remember, you are an independent wholesale retail business because you wanted to do something new or different, so promote yourself accordingly. Here's to you “breaking the chains” and becoming successful with your chosen endeavor.
Catalog retail is a world all it's own. Many considerations that other retailers don't have to deal with are of utmost importance to a catalog retailer. To name a few, the ordering process, warehousing and shipping must be streamlined for maximum efficiency. Maintaining a top notch inventory control and receiving department is also very crucial to wholesale retail business success. Above all, however, a catalog retailer must have a quality wholesale retail business phone system.
Considering the fact that the majority of customers will reach you over the phone, it is paramount to be able to not only handle call volume during peak times, but also to provide your customers service representatives with the features they need to do their job well. wholesale retail business phone systems should be capable of not only putting your customers in touch with you, but also offer routing flexibility, voicemail and forwarding options for the administrative side of your company. Often, the difference maker for catalog retailers is not the products they sell, but the service behind those products. wholesale retail members who want to buy will have questions regarding an item that a simple picture and brief description will not answer. Most companies have service reps who take orders and product specialists who are familiar with the inventory.
It is essential for the product specialists to have access to a phone system that will accurately and easily allow them to receive and transfer calls between departments. After the initial contact by the wholesale retail sales representatives, the most common transfer of waiting customers will be to product specialists and hopefully back to the wholesale retail sales reps. A wholesale retail customer who is dropped accidentally during this transfer is likely to not call back. Additionally, customers who are made to hold for extended periods of time without an automated message thanking them for their patience are a primary example of lost revenue that could be curtailed by the proper wholesale retail business phone system. All in all, a well thought out wholesale retail business phone system is an integral necessity for any company, but it is especially important for catalog retailers.
wholesale retail business Buying Process
First, You have to determining your investment. Usually minimum down payment made by the buyer is 30% of the purchase price. For example, if the wholesale retail business purchase price is $100,000 and loan amount is $70,000 (70%), then the buyer's down payment needs to be $30,000 (30%). Other possible expenses are inventories, supplies, escrow fee, license and permit fees, wholesale retail franchise transfer fee (if applies), etc.
And then you have to set criteria of desired wholesale retail business. Which includes location of wholesale retail business, type of wholesale retail business, price range of wholesale retail business, desired income of wholesale retail business.
After you decide your investment amount and criteria of wholesale retail business, you will need to find a right wholesale retail business that fit your needs. You can search wholesale retail business through online wholesale retail business listing service site like www.BusiMarket.com wholesale retail business For Sale, local newspapers, or through local wholesale retail business brokers or real estate agents.
If you find a wholesale retail business that you want to purchase, you will need to evaluate the wholesale retail business through current owner's income information and your projected income for short term and long term.
And then you need to make decision to purchase wholesale retail business or not. If the wholesale retail business is right for you, you need to write a very descriptive and detailed contract (Purchase and Sale Agreement).
wholesale retail business Cost Savings Through Safety
Setting a health and safety program in place will reduce wholesale retail costs. Having a program will reduce accidents and will lead to lower company worker’s comp premiums; further wholesale retail business insurance companies prefer their customers to have health and safety programs. These insurance companies might even discount the premium if a program can be proved to exist. The average cost of an accident is $68,000. Direct wholesale retail costs in accidents such as worker’s comp and fines levied can close a wholesale retail business. Indirect wholesale retail costs such as low morale of employees, legal fees, and retraining can be as costly if not more.
A working program will:
1) Improve employee morale – Shows care in their well being
2) Reduce revenue loses – Fewer accidents keeps all employees at work
3) Give a boost to the wholesale retail customer – Makes sure wholesale retail business is operating optimally
Small wholesale retail businesses that have a voluntary health and safety program in place have fifty percent less accidents and reported insurance claims than that of their counterparts according to OHSA stats. Most small wholesale retail businesses fall below the legal requirements for having a formal health and safety program in place due to number of employees on staff. Sixty eight percent of reported accidents are in the service industry which shows even wholesale retail businesses such as retail establishments are not free of accidents.
This wholesale retail business financing guide shows the items that you will need to prepare if you are planning to get loan from financial institution when you buy wholesale retail business for sale. Getting financing can be easier with knowledge about the financing and with complete preparation of documents and statements in process of buying wholesale retail business for sale.
Step 1. Find a wholesale retail business for sale at BusiMarket.com site for wholesale retail businesses for sale and commercial property for sale on the market. As soon as a property is found, make any necessary contacts to sellers.
Step 2. Get Purchase and Sale AgreementGet the sale agreement from Brokers, attorneys, or Escrow companies.
Step 3. Find a LenderFind a Loan Officer that will take care of your financing needs.
Step 4. Prepare Required Documents - Purchase and Sale Agreement for the wholesale retail business or Commercial Property,
- Personal Financial Statement provided by the lender,
- Income tax returns from both buyer and wholesale retail seller from the last three years
- an up-to-date income statement,
- Resume from the buyer,
- Lease Agreement(if applies),
- Assignment for Lease (if applies),
Step 5. Finally, wait for the loan approval (usually takes 2-4 weeks)
Since the financing process can be different on type of wholesale retail business, location, and buyer's situation. The information above is for information only and BusiMarket.com does not guarantee accuracy of information.
When setting up a wholesale retail business, even the best prepared among us will struggle to do everything and remember everything. It is very unlikely that we will understand all of the financial and legal ramifications of a new wholesale retail business, especially when we need to concentrate on getting that elusive first sale or completing the first contract. It isn’t always feasible to employ an accountant and a solicitor as well as a secretary, a salesperson and any other workers needed in the daily running of the wholesale retail business. So, we need to be able to diversify when setting up a new wholesale retail business and the best piece of advice anyone can give you to help is to make the most of the widely available wholesale retail business tools on the market.
Financial Documents and Tools
An accountant is a very expensive commodity that many new wholesale retail businesses can afford full-time. It is down to us to undertake as much of the financial side of things as possible; a daunting task indeed. There is help at hand in the form of wholesale retail business tools.
Spreadsheets have become immensely powerful and can do much of the financial work that any business needs, even invoicing. The Internet is awash with free standard documents for almost any occasions; if you aren’t proficient at doing this yourself, you can find balance sheets, daily cash sheets and almost anything you could need.
The Legal Minefield
Mention legal documents to a new wholesale retail business owner and most will curse you. Again, paying for a lawyer to create all your contracts and other legal documents is a cost that new wholesale retail businesses may not be able to afford. Look at other contracts, get ideas off the internet and take a look at the standard contract and terms and conditions guidelines and when you’re ready, book a session with an affordable attorney and let them look over everything. This way you will only pay once and get all the information you need for an affordable price.
It is important that you get any legal documents checked at least once. A poorly written contract can cost you a lot more than the lawyer’s fees.
Human Resources
Human Resources, or personnel as it was once known, will become very important when you start to employ staff. There are a lot of rules and regulations to abide by as well as a lot of extra information to store that is both important and
confidential.
You can get time and attendance software, standard contracts, standard terms and conditions and software to look after your payroll details.
These are just a few tools available to new business owners. To do a job right requires the right tools. It is better to spend time researching your options first to find the right tools, than to get yourself into a real bind attempting to do the job with the wrong (or no) tools. You will find that the time it takes to get the right tools will pay off time and time again.
If you are looking for a wholesale retail business opportunity, the Small wholesale retail business Administration (SBA) has an excellent wholesale retail site, including a search option for small wholesale retail businesses for sale in the United States. They also have financial options for those who are looking for a wholesale retail business opportunity to consider.
Small wholesale retail businesses consistently employ fifty percent of the workforce in the United States. Fifty-three percent of all small wholesale retail businesses are home-based, while three percent are franchises. You can always find a wholesale retail business opportunity that has to do with franchises. Franchises are a worthwhile consideration, simply because in most cases, the name and products are well known. If you take advantage of this type of wholesale retail business opportunity and buy a successful wholesale retail franchise, you usually don’t have to worry about it folding in the first year. wholesale retail franchise.com has a list of franchises offered for sale in the United States, as well as in other countries. You can look at a list of franchises and decide on the one you are interested in, and then learn more about it. The wholesale retail site also lists the wholesale retail franchise fees and investment required.
The competition for any small wholesale retail business to succeed is ferocious, but with more than 24 million in existence, it’s clear that they do succeed.
If you are going to be working in the wholesale retail business yourself, it’s important that you buy a wholesale retail business that you truly care about. If however, this wholesale retail business opportunity is purely an investment for you, then certainly the best wholesale retail business deal financially would make sense. Some wholesale retail members who open new wholesale retail businesses work 14, 16 or even more hours per day until the wholesale retail business really gets off the ground. This would be almost impossible to do if you didn’t like what you were doing.
Home wholesale retail business opportunities are as far and wide as your imagination. You can start your own wholesale retail business or buy an existing one. You could have an online wholesale retail business, or a more conventional store or office. If you select a wholesale retail business opportunity that will have you doing something that you love, the money will likely follow.
It’s not difficult to find a wholesale retail business for sale. There are listings all over the Internet, as well as in almost every newspaper in the country. What matters, obviously, is finding the right wholesale retail business - one that will meet all of your needs, not just your financial ones. How much time do you have to devote to this wholesale retail business? Will this be your only wholesale retail business or one of many? Will you run it yourself or will you hire wholesale retail members to do that for you?
You can do, or you can hire others to do, some sophisticated market research to ensure that your product or service will sell in certain areas. Of course, if it’s an online wholesale retail business opportunity, you can do plenty of your own research quite easily. You can look at what other websites are selling, whether it is a product or a service, and to a degree, you can see how popular they are.
If you need to get a loan for your wholesale retail business opportunity, you have several options. The SBA can direct you to several loan options, although they don’t lend money themselves. The SBA is a great place to start anyway, simply because they do have so many resources. They have a lot of statistical information that you might find helpful in your market research, and they have several free publications to help you along in your small wholesale retail business journey.
Probably the most important thing you can do before buying a small wholesale retail business is your homework. Investigate more than one wholesale retail business before settling on a specific wholesale retail business opportunity, and above all, make sure it is something that you enjoy!
Most states make forming a corporation relatively painless by providing forms for practically everything. The bylaws of the corporation, however, are an area you don’t want to rely on a form.
What Are Bylaws?
Bylaws are the technical rules that govern how a corporation will be run. They are a private document for the corporation and are not filed with any government entity. The purpose of the bylaws is to set out how things such as meetings, voting and share transfer will occur with the wholesale retail business.
Provisions
Typically, the bylaws will be the biggest document in your corporate book. If you are a single shareholder entity, they tend to be fairly straightforward since there isn’t really any dispute possibility unless you have a split personality. If there are two or more shareholders, however, the document is going to be a key item because it is going to detail voting rights and so on.
Typically, the bylaws of a corporation will cover the following specific issues:
1. Board of Director Meetings – When, where and how meetings will be conducted.
2. Notice of Meetings – The form, time and how notice must be given to board members.
3. Quorums – Before a board can issue resolutions on corporate wholesale retail business, a certain percentage of board members must be present. This “Quorom” is set out in the bylaws.
4. Annual Meetings – The bylaws typically detail when and where the annual meeting of the entity will occur.
5. Special Meetings - The process by which special board meetings may be called when an issue arises that requires the immediate attention of the board.
6. Voting Rights – Language detailing the voting rights of shareholders and board members in relation to passing or defeating resolutions.
7. Share Transfer Rights – Language detailing share transfer issues such as right of first refusal and so on.
8. Directors – Language detailing how many board members there will be, the length of their term, compensation, etc.
9. Amendment – The process by which the bylaws can be amended to reflect the evolution of the wholesale retail business.
10. Removal – Language detailing when and how a board member can be involuntarily removed.
There are numerous other provisions that can and probably should go into the bylaws of a corporation. Make sure to discuss them with your attorney.
Small-wholesale retail business owners who think preparing for a disaster is expensive should think again. Being unprepared-and losing everything-can mean paying a much higher price.
For example, in July 1996, the president and owner of Brookville Mining Equipment Corporation, Dalph McNeil, faced every wholesale retail business owner's nightmare when the nearby creek crested at eight feet after a 24-hour downpour.
Expensive new machinery was covered in mud and a powerful current of water had swept away inventory and collapsed a 30-foot section of wall. The flood caused nearly $1.6 million in damages and losses.
After receiving a Small wholesale retail business Administration (SBA) disaster loan, McNeil relocated his plant away from the floodplain and asked one of his employees to take on the additional responsibility of "safety coordinator."
Besides doing quality assurance and control, the safety coordinator, according to McNeil, "runs monthly meetings with representatives of the company, making sure all the employees understand the early warning and evacuation plans, and the emergency procedures."
"You can never be too prepared, as a small-wholesale retail business owner, for disaster," McNeil remarked. "It's something you don't want to think about. How do you carry on wholesale retail business as usual, as quickly as possible, after a disaster? You have to be a bit of a fatalist, thinking in terms of the worst-case scenario for your wholesale retail business." And while he hopes he never has to use the emergency plans he has in place, McNeil says he is now ready for anything.
Experts say preparedness starts with developing such an emergency action plan that is tailored to the company's needs and addresses several disaster scenarios. The plan should include a timetable, budget, assignment of responsibility, prevention and mitigation steps to be completed, and a list of risks and hazards to the wholesale retail business. It's also a good idea to encourage employee involvement in the process.
A communications strategy is a key post-disaster recovery strategy. Phone numbers and e-mail addresses for your insurance carrier, suppliers, creditors, employees and customers, the local media, utility companies, and the appropriate emergency response and recovery agencies should be updated regularly.
This list should be maintained by a key employee and a backup person. Appoint a spokesperson to get the word out that your wholesale retail business is still open to dispel rumors of wholesale retail business failure.
Making sure your insurance coverage is adequate is another issue. According to the Insurance Information Institute, a recently released survey conducted for the National Hurricane Survival Initiative (done by Mason-Dixon Polling & Research) reports that one in three residents in hurricane-vulnerable states said it had been three years or more since they reviewed their insurance coverage.
When shopping for insurance, think about property damage and the loss of revenue and extra expenses that occur when wholesale retail business is halted by a disaster. wholesale retail business interruption insurance covers necessary expenses that occur while the wholesale retail business is shut down. Many wholesale retail business owners don't realize that basic hazard insurance does not cover flood damage. Additional purchased flood insurance is essential; most of the over $10 billion in disaster loans made by the SBA after last year's Gulf Coast hurricanes were for flood damages.
The National Flood Insurance program provides coverage to property owners. For more information, visit the Web site at www.floodsmart.gov. Flood insurance must be purchased 30 days before the disaster hits to be in effect.
Are you stuck with great but slow paying clients? It is interesting how your biggest asset (great clients) can also be your biggest liability. But that is how wholesale retail business is. And as an owner you must adapt.
Whether you like it or not, slow paying customers are here to stay. As a rule of thumb, commercial clients pay their bills in 30 to 60 days. And lately, the trend has been deteriorating. So, what do you do if you have slow paying receivables.
Many owners try to go to the bank to get a wholesale retail business loan. Not surprisingly, few wholesale retail business owners get wholesale retail business loans. As a rule, banks will only finance companies that have long and established histories. This is not your case if your company is new or emerging from tough times.
If your biggest challenge is that you cannot afford to wait up to 60 days to get paid by your customers, then the solution is accounts receivable factoring. Most commonly known as factoring, this type of financing eliminates the usual wait to get paid. It provides you with the necessary funds to pay suppliers, meet payroll and take on new wholesale retail business opportunities.
And how does factoring work? Simple:
1. You finish the work and send an invoice to your wholesale retail buyer. You also send a copy to the accounts receivable factoring company.
2. The financing company advances you 70% to 90% of the invoice (a small reserve is held to handle disputes, etc.)
3. You get the funds in 24 hours
4. As soon the wholesale retail customer pays the invoice to the financing company, they rebate the reserve (less a small fee)
As you can see, accounts receivable factoring can easily be integrated into your wholesale retail business, providing you with prompt invoice payments. Usually, funds are advanced within 24 hours of submitting invoices.
Accounts receivable factoring is easy to qualify for. Accounts can be set up in as little as 4 wholesale retail business days. As opposed to wholesale retail business loans, the main requirement for factoring is to do wholesale retail business with strong credit worthy customers. So if you do wholesale retail business with good commercial clients (or the government), be sure to add factoring to your wholesale retail business tool chest.
I’ve been accused of being opinionated by more than one person in my life, but try as I might to work on that part of my personality, it remains pretty much the same. So, in this article, I’m going to discuss my “opinion” on one reason why, even if your target market is strictly local, your small wholesale retail business can’t afford not to have a web site.
A few statistics from Statistics Canada to start us on our way-. In 2003, there were about 12 million households in Canada, and of those 8 million had regular access to the internet from work, home and/or school. Around 60% of the total households had a computer and internet access at home.
Ok, so now we know how many households had access to the internet, but what were they using it for? Almost 90% used the internet for browsing, but more importantly for our discussion- 34% used the internet for purchasing goods and services, and by the way, that’s almost double 1999 figures for purchasing goods and services on the internet.
Industry Canada reports that in 2000, Canadian ecommerce wholesale retail sales were $7.2 billion, a whopping 73% increase over 1999 numbers. And no, it’s not a typo, it really is $7.2 BILLION! I’d say there’s a pattern brewing—internet usage and wholesale retail sales are increasing rapidly.
And, according to Industry Canada, Canada captured only about 4% of global e-commerce in 2000. Now, numbers may not be my strong suit, so feel free to correct me if I’m wrong, but doesn’t that mean there was 180 billion dollars spent globally in ecommerce?
Let’s look for a moment to the United States. www.tamingthebeast.net reports statistics and forecasts collected during December 2001—157million online users forecast to spend $47.8 billion in online retail revenue in 2002. By 2006, the forecast is 210 million users spending $130 billion in retail revenue.
The numbers alone will probably convince many wholesale retail members to invest in a small wholesale retail business web site, particularly if they’re in an industry where their target market isn’t restricted to a purely local one.
But, you say, my wholesale retail business is just a little local shop. Why should I get a web site for my small wholesale retail business? What good will the internet do me? I’ve heard that one before. In fact, the guy I’ve heard it from most is David.
He’s the guy with the auto shop in my article “I Don’t Need a wholesale retail business Plan—Do I?” Long story short, his mother in law finally convinced him to write a wholesale retail business plan and his wholesale retail business is making some money, but in my opinion, it could do better with some wholesale retail marketing. I’d really like to convince him to spend some wholesale retail marketing dollars (he’s a little cheap sometimes), but so far, no dice. Anyway I digress.
Let’s use David’s wholesale retail business as an example. So, his wholesale retail business is in Saskatoon, a city with a population of just over 200,000 over five years of age and almost 90,000 households in 2001, according to Statistics Canada. Nearly every household has at least one vehicle in Saskatoon, so that means there are around 90,000 potential vehicle problems for David’s shop.
Of course, not every vehicle is going to break down in a year, and David isn’t going to get all of them to use his shop, but you get the idea. And mind you, some of them will break down more than once. A certain 1988 Jeep YJ comes to mind…
In Saskatoon, 72.5% of households had access to the internet in 2003, so around 65,000 households had internet access. And that’s not including the rural population surrounding Saskatoon who also have vehicles that need a mechanic from time to time. Now, let’s say David goes wholesale retail marketing-crazy and spends $2500 for his web site (which in my opinion is way too much money for a static small wholesale retail business web site).
But it does no good to have a web site if it isn’t found. Statistically, when wholesale retail members enter a word or phrase into a search engine, they’ll stop looking after the third page. That means, that in order for your web site to be positioned so wholesale retail members will actually click on it, it needs to be in the top 30 web sites for your particular key words or phrases.
So, lets assume that the $2500 David spent includes some good search engine optimization. His web site copywriter makes sure to research and find relevant keywords, and uses them well in his site.
She adds his site to small business directories, and does more of her seo magic, and low and behold, three months in, David’s site comes up #2 in a Google search for “auto repair Saskatoon”. Now there are a potential 65,000 clients for David’s wholesale retail business because they’ll find it in a search engine.
If he only reaches .1% of those 65,000 (not 1%, but point 1%), he could have 65 new clients, and you know your bill is going to be more than 100 bucks every time you take your car to the shop, but assuming just $100 for an average bill, he’ll gross $6500, making that $2500 web site money well spent. I’d be willing to bet he’d make that much on maintenance alone, never mind repairs.
Now that I think about it, I’ve never approached David about a web site from this angle. I think I might show him this article. He’s a logical sort of guy, and it just might convince him to get one.
You’ve heard it a million times – cash flow can make or break a wholesale retail business. Lack of cash flow planning is the reason why many wholesale retail businesses fail. In fact, many PROFITABLE wholesale retail businesses fail because of cash flow issues. Without adequate cash flow, you can’t pay your bills and you can’t make plans for your wholesale retail business.
So… what is cash flow planning? Cash flow planning is projecting your future cash inflows from wholesale retail sales, services, and loans, and comparing them to your future cash flow needs (suppliers, salaries/wages, loan payments, taxes, etc.). The difference between the two is your net cash flow.
Why is cash flow planning so important? Cash flow planning can help you identify problems down the road, and fix them before they occur. Cash flow planning can also help you make decisions such as should I attend that conference I’ve wanted to attend, should I buy the new computer I’ve been wanting, or do I need to work extra hard this month to avoid a cash flow deficiency next month?
The first step in planning your cash flow is knowing where you spend your money! Solo entrepreneurs need to have a good grip on both their personal and wholesale retail business spending, as most solo entrepreneurs rely on their wholesale retail business income to meet personal finance goals (i.e., pay the bills!). So, you should track both your personal and your wholesale retail business spending, although I recommend that you keep them separate (that’s a topic all by itself).
What’s the best way to track your spending? You can use pen & paper, spreadsheets or a software program. The best method for you is the method that you will actually use on a regular basis.
You should project your spending for at least the next 12 months so that you include annual and other periodic expenses. If you are experiencing a cash flow crisis, you should track & project your cash flow on a weekly basis, instead of monthly.
If you are an existing wholesale retail business, you can project your cash flow for the next year by reviewing your expenses for last year. If you are a new wholesale retail business, you will need to estimate your start up wholesale retail costs in addition to regular operating expenses.
Start up wholesale retail costs include inventory, legal expenses, wholesale retail advertising, licenses & permits, supplies, and many more wholesale retail costs that you may not have thought of. To research startup wholesale retail costs you should contact your local Small wholesale retail business Development Center, contact a SCORE counselor, join groups of similar wholesale retail business owners, and read as many books or articles you can find on the subject.
To improve your cash flow, you should:
1. Complete the first 3 steps. You have to understand cash flow planning, track your cash flow, and project your future spending needs before you can improve your cash flow.
2. Create best and worst case scenarios and create appropriate responses to both scenarios. For example, if your best case scenario is to increase wholesale retail sales by 50%, how will you use the wholesale retail profits? Will you put the wholesale retail profits back into the company by investing in new equipment, training, etc.? If your worst case scenario is a drop in wholesale retail sales by 50%, how will you continue to cover your monthly expenses? By planning for the best and worst case scenarios, you’ll be ready for any situation.
3. When estimating your future income, realize that some wholesale retail members will pay late, and account for that fact in your projection.
4. Charge what you’re worth. Many wholesale retail businesses, especially service professionals, under-charge when they are first starting out. This is a great way to go out of wholesale retail business. Make sure you are charging what you’re worth, and remember you’re in wholesale retail business to make money, not to give your expertise away for free.
5. Watch your wholesale retail business spending. Focus on the value the item brings to your wholesale retail business, and avoid lavish spending (i.e., do you really need the fastest, newest computer available?).
6. Don’t hire until necessary. Consider using virtual assistants or temporary employees before hiring permanent employees.
7. Give incentives for early payment for products and services. On the flip side, chase down invoices the minute they’re late. Charge interest or late fees to encourage timely payments.
8. Update your cash flow regularly. Your cash flow plan will change frequently as your business grows. You may want to update your cash flow plan weekly when you first get started, then switch to monthly once you’ve got a good handle on your cash flow.
Remember - whether you are a new or growing wholesale retail business, your cash flow projection can make the difference between success and failure.
When forming a limited company the name of the company can be an important decision. Some wholesale retail members may choose the first name that they think of and others may select a ready made company for speed or because they like a particular name. However, many wholesale retail businesses may prefer to select a company name that either clearly distinguishes itself from its competitors or contains something unique or personal. Company names can be chosen for different reasons.
One of the most common ways of selecting a company name is to use something personal. A quick look through your local newspaper will probably introduce you to many personalised wholesale retail business names. Johnson Consulting Limited, T Smith & Son Limited, Stephens & Barley Limited are some fictional examples of what may be found. This may instantly make a company recognisable locally, it can be deemed as more personal by its customers, and often works well within geographical areas. However, it does little to tell new customers what your company does.
A popular choice for a small wholesale retail business is to choose a name that is ‘descriptive’. This tells prospective clients exactly what your company does. Examples of this may be to call your wholesale retail business The Window Company Limited, City IT Consultants Limited or The wholesale retail advertising Agency Limited. Whilst this does serve to reinforce your primary wholesale retail business it offers little differentiation and may easily be adapted by competitors.
A less personal option is to use a company name that is ‘associative’. This type of company name helps to create an image or connection to your wholesale retail business activity. It is less direct than using a descriptive name but helps to position your company’s name within the market through peoples understanding of what words mean. For example a flick through the Yellow Pages will offer plenty of examples of this. A hairdresser called Classic Cuts or a printer called Selectaprint Limited are examples of what may be found. These names offer some differentiation but may not ultimately set your company aside from its competitors.
An alternative is to choose a company name that is ‘freestanding’. These names are completely abstract and not related to the companies wholesale retail business activities. A fictional example may be to call your catering company Zedoc Limited. There are many popular brand names that illustrate this point. Consider, Kodak, Gillette, or Mars, these names will probably be instantly recognisable to you and conjure up a particular product or wholesale retail business. This is a good way of setting your company aside from the competition but it is important to consider the market that you operate in. Will your prospective clients know what your wholesale retail business is offering?
Choosing a company name may be a simple process, but it is not uncommon for wholesale retail members to deliberate over names for quite some time. Whilst company names can, and often are, changed during the life of the company most wholesale retail members like to choose a name that they like from the outset. Therefore consider your market, how much you want to differentiate from your competitors and what your company name should say about your organisation. Once the decision is made focus on the important wholesale retail business of making your company a success.
You need a wholesale retail site, but how can you tell the professional wholesale retail business web site developers from the college kid in his basement? The answer is fairly simple if you know what kinds of questions to ask. Professional web site developers are just that - professionals. They have college degrees and/or experience related to web site development. They understand small and medium size wholesale retail businesses for it is likely they are one too. Most importantly, they speak to you in your language, not theirs.
Purchasing a web site is a form of advertisement for your wholesale retail business. Would you pay for the development of a radio or television commercial if you were not sure you would get a return on your investment? Why risk your professional reputation by trying to get the cheapest site possible just so you can put the www.yourbusinessname.com on your wholesale retail business card? If you have seen the work of a web site developer and the pages look great, do they contain keywords, titles, and descriptions to help search engines like Google and Yahoo find them?
These are some of the basic questions a professional wholesale retail business web site developer should be able to answer:
1. How will you measure my ROI (Return on Investment)?
2. What information will be included in my monthly web site analytical reports? The reports should answer these questions at a minimum:
..a. What time of the day do most wholesale retail members visit?
..b. What search engines are they using to go to my site?
..c. How long does someone stay on my site?
..d. Which pages do they visit?
..e. Where do they go when they leave?
..f. What are the demographics of my typical online wholesale retail customer?
..g. Has my search engine ranking changed?
3. Will my site be monitored 24/7 with guaranteed 99.8% reliability?
..a. Are all links checked every day?
..b. Are broken links corrected?
4. What is my conversion rate (how many potential online customers have turned into actual customers)? Also,
..a. Why did they visit my wholesale retail business online?
..b. Were they happy with their purchasing experience?
..c. What would they change about my site?
5. How will you help me increase my wholesale retail business over time?
If you are having trouble finding a web site designer, visit the sites of your competitors or other local wholesale retail businesses. Most reputable web site developers list themselves and include a link in the small print at the bottom of the sites they have created. Call the wholesale retail businesses whose sites you like and ask the owners if they are satisfied with their Internet presence. Consider using a web site developer who is not local. They should be able to gather the information they need over the phone or through a web conference. Finally, ask for proposals with price quotes from more than one web site developer. The quality of the proposal will be a good indicator of the professionalism of the wholesale retail business.
Is your workspace working for you? Research shows that your environment makes an impact on your mood. So it may be time to give your space at the office a makeover to liven up things at work.
"Now you can change your office decor as often as you change the ink in your printer," says Anna Griffin, designer of the Anna Griffin Inc. line of desk accessories. "A change of color and pattern in your workspace can help to motivate, destress and even improve your disposition."
The key is to add variety to your area so that you don't get bored with the same surroundings and decor day after day. Griffin offers the following tips to help you create a pleasing and invigorating work area.
* Clear the clutter. The first step in producing a pleasant cubicle space is to make it clean and organized. This will help you stay focused on your work.
* Accessorize. Disposable desk accessories in fun colors and patterns will add instant pizzazz to your workspace and can be replaced whenever you need a change of ambience.
The "Rose" and "Elsie" collections from Anna Griffin Inc. are fresh, fun and, best of all, affordable. They feature four different patterns in eight coordinating office items, including file sets, magazine and pencil holders, paper, letter bins, journals and photo albums. The Rose Collection is full of rich, vibrant color in Old World floral patterns, while the Elsie Collection is sophisticated and playful, incorporating retro, pastel abstract and floral designs.
* Decorate your workspace to look like home. Because you spend so much time at work, choose a color or style and start decorating. A small area rug can add color and texture to your space, and a favorite lamp or lamp shade can cast just the right light. You can personalize with touches like a decorative basket as an "in box" and fun prints and paintings for the walls. Don't forget photos of your family, friends and pets. They will bring a smile and help reduce your stress level.
* Just add water. A desktop fountain, fresh flowers or a fishbowl can add ambience and a sense of style and tranquility to your office space.
* Don't forget the finishing touches. Use a pre-made slipcover to add style and color to that tired old desk chair. Switch out those boring manila folders with decorative patterned ones. They make work fun! Show some individuality with your mouse pad. You can purchase a mouse pad featuring an art masterpiece or cartoon character, depending on your theme and mood. A whimsical clock, fun paperweight or funky plant could be just what you need to make the space more "you."
Unfortunately very few start up wholesale retail businesses make it beyond their 3rd year. Failure is usually down to a number of clearly identifiable mistakes, which if small wholesale retail business owners are aware of, can increase their chances of survival.
Here are the top 10 common mistakes which small wholesale retail businesses tend to make.
Lack of Market Research
When a budding entrepreneur comes up with an idea for a new wholesale retail business he assumes that because he would buy such a product or service then everyone else will. This may be the case for day-to-day necessities but for other items this is usually not so.
It’s important that when you start up you carefully research the market to check that:
• There is demand at a level which would lead to a sustainable wholesale retail business
• wholesale retail members are prepared to pay the price required for you to make a decent profit
Undertaking market research may appear time consuming but the effort will pay off.
Poor Record Keeping
Some wholesale retail business wholesale retail members are not born administrators; they feel more comfortable getting out there and ‘doing the wholesale retail business’. Paperwork is too easy to ignore but can never be put off indefinitely.
wholesale retail sales, purchases and other expenditure must be carefully documented, so you know whether you are making a profit or not. Invoices must be issued on time and chased up promptly if there is a delay in payment. It’s all very well having the wholesale retail sales but poor record keeping can hold you back.
Having your paperwork in order will also save you time when it comes to your accountant doing your year-end books!
Insufficient Capital
When starting off it’s easy to decide what capital is required for fixtures and fittings, machinery and stock. What many new wholesale retail business owners forget about is the cash needed to fund day-to-day requirements, i.e. cash to pay expenses before your customers pay you. This is known as your working capital requirement.
Small wholesale retail businesses can fail because they have insufficient cash to start off to meet these immediate expenses. If you wish to survive make sure you set aside enough cash to meet all your needs for the first few months.
Ineffective wholesale retail marketing Or None At All
You cannot afford to treat the cost of wholesale retail marketing as an unnecessary expense. A wholesale retail business with no wholesale retail marketing is like waving in the dark – you know you are doing it but no one else does!
There are many ways to promote your wholesale retail business on a small budget; it’s just a case of being inventive and creative. What ever you do, don’t assume that wholesale retail members will quickly know you are in wholesale retail business – they won’t, unless you tell them.
Ingoring Changes In The Market Place
As a small wholesale retail business owner it’s very easy to get immersed in your wholesale retail business and not see what is happening around you in the market place. Always keep your eyes and ears open to what the competition is doing and what your customers want. Don’t get left behind.
Owner’s Attitude
Attitude is everything in wholesale retail business. Don’t forget that the real boss in your wholesale retail business is the wholesale retail customer. Running a wholesale retail business may make you feel important but don’t let this develop into an ‘I am better than you’ attitude. Do this and you will quickly chase your customers away.
Spending On The Wrong Things
Being in business can be exciting, especially as the cash starts to roll in! However, don’t be tempted to spend it on a new car, a house or just a good time. If you are to own a successful wholesale retail business then you have to keep some cash back to fund future growth. A wholesale retail business cannot grow without cash, so commit to spending wholesale retail business money on the wholesale retail business.
Dependent On A Small Number Of Customers
Don’t fall into the trap of setting up a wholesale retail business just because one person says they will buy from you every week or month. Setting up and running a wholesale retail business, which is dependent on one wholesale retail customer, is not a recipe for success. What happens if, one month after you have spent all your cash to set up your wholesale retail business, that wholesale retail customer says he has changed his mind and has decided to buy elsewhere? Unless you can find other customers very quickly you are faced with closure.
Before embarking on a new venture make sure you have a sufficient number of customers such that if a few go elsewhere you can still continue trading.
Growing Too Quickly
Surprisingly, growing too quickly can be a problem. You have to be disciplined enough to only take on work you can handle. If you are tempted to accept too much you could end up disappointing not only the new wholesale retail buyer but also your existing ones.
Also, don’t under-estimate the impact rapid growth can have your administrative burden. As I mentioned earlier, getting behind on the paperwork can have an equally damaging effect on your wholesale retail business.
Trying To Do Everything
Finally, the problem most small wholesale retail business owners have is the fact that everything falls on their plate. Inevitably this is how it’s likely to be in the beginning, when the limited budget means that staff are a luxury, but as the wholesale retail business grows be aware that you cannot continue to do all tasks. There will come a point when you become inefficient and not have enough time to complete everything in sufficient detail. Taking on an extra pair of hands will increase your wholesale retail costs but you will be surprised at how much time will be saved, allowing you to do what you do best – getting the wholesale retail business in.
Take a look at each of the mistakes and make sure that you don’t fall into these traps.
According to the United States Small wholesale retail business Administration, small wholesale retail businesses represent 99.7 percent of all employers. There are an estimated 22 million small and midsize wholesale retail businesses (SMBs) in the U.S. today. Such companies are constantly challenged with the need to create a huge impact in a noisy marketplace with a limited budget.
Today, affordable imaging and printing technology makes it possible to build an in-house wholesale retail marketing program. In fact, Revival Lighting, a vintage lighting fixtures company in Spokane, Wash., cut the cost of producing wholesale retail marketing materials 90 percent when they brought wholesale retail marketing in-house. In addition, because wholesale retail marketing materials can age quickly and frequently need updating, companies with the flexibility to respond on the fly will impress customers while reducing wholesale retail costs.
Color has become an effective, even necessary tool in wholesale retail marketing materials. According to a study by Loyola College in Maryland, using color increases brand recognition by up to 80 percent.
Bold and multicolored designs can impact wholesale retail members's moods. Environmental green is considered hip and has taken on new, positive associations, while the combination of blue and floral reds has been found to evoke vintage designs and heritage, according to a 2005 study by The Color Association of the U.S.
In addition to printing materials in-house, SMBs should take advantage of inexpensive and often free wholesale retail marketing services that are available on the Web. For example, HP hosts an in-house-wholesale retail marketing portal for entrepreneurs and SMBs. It contains case studies, how-to seminars and other free tools and information, including over 200 free wholesale retail marketing templates ranging from brochures to an image library.
Blogs-online journals or newsletters intended for general public consumption-are another great tool for learning more about how to use color and create wholesale retail marketing materials in-house. To save time and money, SMB wholesale retail marketing guru John Jantsch, who maintains the popular blog Duct Tape wholesale retail marketing, recommends that wholesale retail businesses create a wholesale retail marketing kit describing you, your company, services provided and what sets your wholesale retail business apart from the rest.
To improve wholesale retail marketing effectiveness on a shoestring budget, bring it in-house, remember to use color, take advantage of free services and seek out expert advice.
Product choice is one of the most important decisions that must be made when starting a food concession wholesale retail business. While many components of the concession wholesale retail business are important, choosing the type of food you will sell is the main component of your money-making potential. Choosing the wrong type of food can be detrimental to your wholesale retail business while choosing the right type of food can make you the talk of the neighborhood. There are several ways to choose food. First, choose a food you are experienced with. Second choose a food that is from your heritage. Third you can choose a food that is not in the area you plan to set up. Fourth you can choose a food to that is popular only if you can make the best of it. Finally, listen to your potential customers and what they want.
First and foremost, a great idea for trying to choose what foods you will sell in your concession wholesale retail business is to choose a food you are comfortable with cooking. If you don’t know how to cook lobster, unless you practice lots and learn how to make it very well, don’t choose to cook lobster. If you are a great burger cook, use that to your advantage. Experience is one of the most important traits you can draw upon in this wholesale retail business. If you have any type of food preparation experience and you choose to sell the type of food you are used to, you already have a leg up on the competition.
Secondly, a good idea to help inspire your food choice is to use your heritage. If you are Mexican, you may choose to sell Mexican foods. If you are Polish, you may choose to serve a fast-food form of Polish food. Using things that are in your background is similar to using food that you are experienced making. Many wholesale retail members who choose to let their heritage be a food guide feel more attached to what they are doing. You may feel like you are paying tribute to your history.
Another way to choose your food type is to choose something that is not currently in the area that you plan to set up in. For example, if the place you are going to set up is known as Hamburger Alley, you may want to pick chicken sandwiches for your signature item. Giving potential customers a choice between what is the norm and something unique is always a good way to get them to stop by. They may enjoy a taco now and then.
Do something that is going to make you stand out. This will help your potential customers remember you more easily.
Conversely, the very bold person can try another tactic. You may choose to do something that is very popular where you set up. However, if you choose to make hamburgers on Hamburger Alley, you MUST be the very best at it. If you can make a phenomenal burger, based on other wholesale retail members’s opinion, by the way, you can make a name for yourself as the best burger from burger alley. This is, I must warn you, much more difficult than figuring out something unique to sell.
A final idea about how to choose your menu is to listen to the wholesale retail members that are going to be your customers. Go to a neighborhood hang out or a local shopping district or wholesale retail business plaza near where you are planning to set up. Ask locals about what they think is needed in the neighborhood. Listening to your potential customers, you will start a relationship before you even open your restaurant.
No matter how you choose the type of food that you will sell, you must remember how truly important it is. Placing the utmost of care and consideration on this type of decision is very important. Above every other piece of advice on how to choose your food, be comfortable with what you choose. Going to work terrified everyday that you won’t turn things out right, or worse, not turning things out right is not the way to make a good impression.
One of the keys to running a successful small wholesale retail business or home office is learning to control wholesale retail costs. Even the smallest expenses can quickly add up and cut into wholesale retail profits, leaving you with a wholesale retail business that won't move forward.
Many small-wholesale retail business owners know where their money comes from, but are not as clear on where it goes. This can have a significant impact on their wholesale retail businesses' cash flow.
It's important to review your expenses regularly - every quarter if possible - so you can accurately manage your outgoing expenditures and look for ways to save.
Demos Parneros, president of U.S. stores at Staples Inc., provides the following suggestions to save your wholesale retail business money.
* Buy last year's model. Furniture, computers, PDAs - there is always something new. This also means that there is always something old. If you wait until the end of the year or for wholesale retail sales throughout the year, you can save on your office needs.
* Buy in bulk and buy ahead. By buying commonly used items in large quantities, you can save a lot. Replenish your supplies before you run out. Thinking ahead, and thus buying ahead, gives you a chance to comparison shop and take advantage of wholesale retail sales.
* Buy products that save money. Consider quality alternatives to national brands. Staples ink and toner products, for example, offer consumers quality products at a 15 percent to 20 percent cost-savings per cartridge.
* Take advantage of discounts. Professional and trade associations often offer their members discounts on insurance, travel, shipping and other common expenses. Similarly, some credit cards, like the American Express Corporate Card for Small wholesale retail business, may get you discounts as well.
* Save on mail wholesale retail costs. Mail wholesale retail costs for your wholesale retail business can add up fast. To save money, use postcards or consolidate shipping. You also can buy or lease a postage meter or get a mail scale to eliminate overpaying.
One of the keys to running a successful small wholesale retail business or home office is learning to control wholesale retail costs. Even the smallest expenses can quickly add up and cut into wholesale retail profits, leaving you with a wholesale retail business that won't move forward.
Many small-wholesale retail business owners know where their money comes from, but are not as clear on where it goes. This can have a significant impact on their wholesale retail businesses' cash flow.
It's important to review your expenses regularly - every quarter if possible - so you can accurately manage your outgoing expenditures and look for ways to save.
Demos Parneros, president of U.S. stores at Staples Inc., provides the following suggestions to save your wholesale retail business money.
* Buy last year's model. Furniture, computers, PDAs - there is always something new. This also means that there is always something old. If you wait until the end of the year or for wholesale retail sales throughout the year, you can save on your office needs.
* Buy in bulk and buy ahead. By buying commonly used items in large quantities, you can save a lot. Replenish your supplies before you run out. Thinking ahead, and thus buying ahead, gives you a chance to comparison shop and take advantage of wholesale retail sales.
* Buy products that save money. Consider quality alternatives to national brands. Staples ink and toner products, for example, offer consumers quality products at a 15 percent to 20 percent cost-savings per cartridge.
* Take advantage of discounts. Professional and trade associations often offer their members discounts on insurance, travel, shipping and other common expenses. Similarly, some credit cards, like the American Express Corporate Card for Small wholesale retail business, may get you discounts as well.
* Save on mail wholesale retail costs. Mail wholesale retail costs for your wholesale retail business can add up fast. To save money, use postcards or consolidate shipping. You also can buy or lease a postage meter or get a mail scale to eliminate overpaying.
Being a retail consultant, there is a comment many wholesale retail business owners used. It is “I'm not giving away my inventory". It is most common among store owners that wholesale retail business is in bad shape. It is too bad that most retail owners don't understand about inventory. Inventory does two things. It eithers makes you money or wholesale retail costs you money.
You need to have sufficient inventory to be profitable. However, having too much inventory is a larger problem than too little inventory.
Too much inventory ties up critical cash for your wholesale retail business. It can also result in more damages to your merchandise. The key is to find the right price to move your merchandise. Slow moving items take up space and cash that could be used for more profitable items.
There are times you have to adjust your pricing strategy. For example, let's assume your retail price is double your cost. In this example, you pay $10 and it retails for $20. If it is a slow mover or discontinued item, what should be the new price? I would take 20% off for 1-3 months, 50% off and then 75% off. If you have to sell at 75% off, you will sell below cost. Cost should never be a factored in marking down an item.
I can hear you yelling now. I'm not giving away my inventory. You are looking at your inventory from the wrong perspective. Your product is worth what a wholesale retail customer will pay for it.
Using my example, let's say you sold your product at 75% off. How much did you make on that item?Your answer most likely was a loss of $5.This was based on a $10 cost and $5 retail. That answer is partially correct. The more correct answer is that you made $5.
You took an item that was producing zero and turned it into $5 cash. You can take that cash and space and use it for a profitable item. Many times a wholesale retail business does not have enough cash to buy the needed quantities of the best-selling products. If you take the cash from the poor sellers and use it for good sellers, you will more than make your money- back.
No matter how good a buyer you are, there will be items that don't sell. The key is to realize this and react before it ties up too much cash and profit.
An added benefit of taking care of your problem inventory is increased wholesale retail sales. You will get customers who will shop your store regularly looking for your markdowns. Many of them will buy your high gross items also. If you take care of your problem inventory regularly, your markdowns dollars will be less.
Inventory is critical to your wholesale retail business success. The key is to take action on the slow moving and discontinued. This will make your bottom line better in the long run.
Everyone would love to have and extra $500 a month. I am sure if you are reading this you too are looking for away that you can better your life even if it’s a extra $200 or $300 a month. Well I am not going to lie to you working online and making money isn’t easy.
Why do you think most wholesale retail members who work at home fail? Because its not easy money, and its not a get rich quick system. Working online is building a wholesale retail business from the ground up, and helping others do the same. It takes time and team work. If you do not have time, and if you do not help others you will get anywhere fast.
Of course you can make money online with out a team but it will be a lot harder, and sooner or later you will find your self looking for a new way to make and income. I have been working at home for over a year now, and I wanted to quick and give up so many times. I just knew though that there had to be away to make money online.
I searched the Internet for months spending money I didn’t have, and looking for that one system that would make it all worth it. Well it was a good thing I didn’t quick because I have found a system that lets every day wholesale retail members like you and I earn that extra income we have always been looking for.
The system I found works with leverage. it’s a powerful system that will allow you to make any where from $300 to $5,000 or more a month. Its just of matter how much work you put into it. The money is there for the taken. If you want it bad enough you will get it.
This system works like a team, so you are never left alone. There is always support from everyone helping you, and showing you EXACTLY how they are doing it. No other system shows you exactly what they are doing, and they don’t help you.
Remember building a team is key to any wholesale retail business. I am sure you all know you are only as strong as your weakest link. So why not make everyone strong! This wholesale retail business is for serious wholesale retail members who are tired of wasting money on programs and e-books that do not work. If you want to stop wasting your time and money let a team like Easy Daily Cash help you start making that extra money you have been searching for.
When you are creating wholesale retail advertising design for the newspaper, magazine or direct mail, what do you think might be one of the most important considerations?
If you answered readability, congratulate yourself! Fancy graphics may get the ad noticed, but readers must be able physically to read the words. This elementary concept sounds simple enough, yet is often ignored. If they can't read it, they can't understand enough about your offer to respond.
With todays' sophisticated and virtually unlimited graphic computer options, it is easy for the graphic design wholesale retail advertising person to get sidetracked into believing what is on the screen looks like a true work of art!
Here are some wholesale retail advertising design questions to ask:
1. Want your ad to look different? Examine a few past issues of the publication where your ad will be appearing. Often publications create ads themselves ("pub-set") and they can tend to look similar. See if you can spot them. Then try to develop a graphic look different than the other ads. Set your ad apart by using a different type face family that is easily read.
2. Is the advertisement legible? In their desire to be different and stylish, some of todays' magazines make reading difficult.
Here are some common problems. White type on a light pastel background. Or light pastel type on a slightly darker background of the same color. Or colors that don't contrast well when viewed in black and white, such as dark forest green type printed on a background of fire engine red.
It is better to go for the headline in big, lighter type against a much darker background.
3. Trying to cram too much information into a small space? One of the big problems is trying to fit too many words and concepts into a small space.
Here is where small space is actually your friend. It forces you (or the writer) to break down your ideas into simple words and simple concepts. Bear in mind that the goal of many advertisements is to solicit an inquiry, not to tell the entire story.
Often readers look to the details to figure out if they want to act. The type showing those details should be large enough to see and comprehend, even for those who have trouble with their vision. Type in color really needs to be 10 point, if not 11 to be read by the entire population.
With black and white newspaper ads, it is possible to use typefaces as small as 8 point because their comprehension is made easier by black type on newsprint. In magazines, black type as small as 4 points (on a white background) has been used. The clarity is astounding, but many wholesale retail members need a magnifying glass!
In conclusion, ignoring these three considerations can spell disaster for the reader who is trying to understand the wholesale retail advertising message. Good wholesale retail advertising design creates graphic effects that enhance the writers' words and contribute to the overall success of the ad.
© 2006 Jon Sinish
This article may be reprinted and distributed as long as the resource information remains intact.
In the event of a potential disaster, do you have a wholesale retail business continuity plan for your employees and your wholesale retail business? Are you backing up files on a routine basis, and could you recover them in an emergency?
On average, nearly 60 percent of wholesale retail businesses damaged in a disaster close after a year, according to the Association of Small wholesale retail business Development Centers.
Last year's devastating hurricanes heightened awareness of the importance of disaster planning for wholesale retail businesses, large and small. But destruction of your company's infrastructure is not limited to natural disasters-it can happen anytime. Daily misfortunes like computer crashes, network breakdowns, and power outages threaten your wholesale retail business each and every day.
Having weathered four major hurricanes last year alone at its corporate headquarters in South Florida and across nearly 100 stores in the Gulf region, Office Depot has real-world experience in disaster planning and recovery. To help wholesale retail businesses be more prepared, the retailer has compiled "Disaster Preparedness: Advice You Can Depend on to Weather Any Storm."
"A sound contingency plan can enable your small wholesale retail business to respond effectively to a crisis, and prevent that crisis from becoming a full-fledged disaster," said Tom Serio, Director of wholesale retail business Continuity Management for Office Depot.
According to Serio, the overarching principle in disaster planning and recovery is to protect your most valuable and irreplaceable assets: your wholesale retail members and your data. Among the guide's other recommendations:
Keep contact information for employees and local emergency services, as well as key vendor and supplier information, updated and easily accessible. Establish a clear process for communications and plan how you will contact one another in different scenarios.
Protect your wholesale retail business from faltering after a disaster by backing up key data at least once a week. Copy data to removable media, including DVD-R or CD-R discs, or to removable drives such as the Ativa McAfee Flash Memory Drive with anti-virus software.
Move back-up software to a secure off-site location. Store copies and documents you use in day-to-day operations in a secure and fire-proof location like the Sentry Fire-Safe Electronic safe.
Periodically review the data being stored on any back-up systems to ensure that the right data is being copied and that it can be restored.
Should Small wholesale retail businesses have a web presence?
In one word, yes! The internet is the most effective wholesale retail marketing tools in existance nowadays, have the capability of reaching far more wholesale retail members than any leaflet drop or advertisement in the local paper ever will.
Should you produce your own wholesale retail site?
It all depends on your skills, if you have the ability to produce a site that looks good, then go ahead, it will save you money and will work wonders as a wholesale retail marketing tool. However if your skills are limited or non-existant then we'd say no. Why? No, not because we want your money (although we don't mind if you want to give it to us...), because if your site doesn't have a professional look to it, then it is going to reflect badly on your company's image.
Do you need to spend lots of money?
It really depends on the size of your wholesale retail site, if you're looking simply get a presence on the internet, then you can easily get something for around £250 if you take the time to look, if you're really getting into the idea of being online and effectively having your shop exist in cyberspace you're going to be looking at more money, however even then, there are many self-build options such as Ekmpowershop.
What content do you need?
This all depends on what you want from being online, if you want to sell online, have your products online is going to be very useful! If you're just looking to get your company online, then there are TWO elements that we believe are imperative:
Information about your company
How to contact you
Without these two no-one is going to know who or what you are, with the former being your chance to sell yourself. Remember when wholesale retail members look at websites, if its well designed they won't know if they're dealing with a multi-national company or a one person organisation, this is your chance to play alongside the big boys!!
What to do now?
So you're convinced a wholesale retail site is the way to go? Excellent, this can only be of benefit to you! Now you've got to find a designer (there's one right here!!!), things to keep in mind when looking is what kind of style are you looking for, find some websites that you like then find some designers and see if they can produce something along that line! If they can, you're on the way to bringing into being what can be one of your best employees!!
When the “experts” tell you you’re going to need a press kit for your small wholesale retail business I’ll bet you’re wondering why on earth you’d need one. At least, I think you’d wonder why if you think a press kit is just for the press. But the term ‘press kit’ is misleading if you ask me because press kits aren’t just what their name implies.
I prefer to call them small wholesale retail business information kits or information packages instead because that’s what they really are. They are meant to inform everyone, not just the press about you and your wholesale retail business.
Once you have a small wholesale retail business information kit, you’ll find you’re often giving them when someone asks for information about your company--who you are, what you do, how you can benefit them. In fact, you’ll probably find you’ll give out almost as many of your information kits as your wholesale retail business cards.
Sometimes it’s more appropriate to simply hand out just your card, but other times, you might like to give someone more information than what’s on your wholesale retail business card.
Say you’re at a party and someone asks what you do. You’d probably just give them your wholesale retail business card. But your wholesale retail business card gives this wholesale retail business contact only the briefest information about your company.
So, you might also ask for their name and address, and send them an information kit the next day. Sending your information kit the next day also works as an important reminder of the evening’s discussion.
On the other hand, if you’re a plumbing company, you might want to contact construction companies in your area to see if they’re interested in subcontracting your company from time to time, or better yet all the time!
Sending them just a wholesale retail business card probably won’t get you very far. Even sending a well-written letter introducing your company together with your wholesale retail business card probably wouldn’t be as effective as a complete information kit.
You could think of your wholesale retail business card as the “who and the where, and a little bit of the what” of the 6 interview questions—who, what, where, when, why and how. Your card probably has your wholesale retail business name, contact information and possibly a slogan, motto or some saying suggesting what you do.
Your information kit on the other hand, answers all the questions. It tells wholesale retail members who and where you are, just like your wholesale retail business card does. But instead of one little line suggesting what you do, your information kit tells wholesale retail members exactly what you do. How well it tells them what you do depends on how good your copywriting is.
And it tells them how to buy, (with your convenient order form for example, or by phone or fax, with cash, check or credit card) and when to buy (today, right now, before the special offer expires).
Your wholesale retail business card doesn’t have the room to tell wholesale retail members why they should buy from you, but your information package does. And not just by telling them you’re the biggest, the best, and of course the most innovative either.
The real secret is convincing wholesale retail members they can’t do without your product or service, remembering that along with a great description of your product or service, to consider your information kit from your clients’ perspective. Everyone wants to know how what you do can benefit them. How you can save them time or how you can save them money, or how you can make their life just a little bit easier.
One last word on presentation of your small wholesale retail business identity package. It’s almost as important as what you say. A professional image can go a long way in assuring potential clients your small wholesale retail business is the one they want to do wholesale retail business with.
You cannot compete with big companies without one, and you’ll be miles ahead of the small wholesale retail businesses that don’t have one. And while we’re talking about professional image, imagine how your small wholesale retail business will be perceived when you have the ultimate in professional image-- a matching corporate identity package, information kit and small wholesale retail business web site.
You are a small wholesale retail business owner. You use the internet both in your wholesale retail business and personally. Obviously you know there are many, many web sites out there. More then likely, you've even made purchases through someone else's web site. Perhaps it is apparent that you could be doing the same thing with your own wholesale retail business. Certainly, extra e-commerce wholesale retail sales could only help your bottom line. But does your wholesale retail business really need a web site?
In deciding that, consider what a web site really is to a wholesale retail business. A well designed site can give your wholesale retail business exposure to a much larger group of potential customers. That makes it a powerful tool in your wholesale retail marketing arsenal.
In today's hyper-competitive wholesale retail business environment, wholesale retail marketing experts tell us that having a successful wholesale retail marketing strategy is essential to the growth of your wholesale retail business. Effective use of a web site can draw in new leads and turn leads into conversions. Now these new customers (your best market) can be further wooed through follow up online newsletters, automatic appreciation e-mails (auto-responders), special offers or any number of tactics. All the while building a mailing list which is like gold to anyone's wholesale retail marketing efforts. With this almost limitless and relatively inexpensive wholesale retail marketing tool in the form of your web site, your wholesale retail profits have an even greater ability to soar.
A web site does need to be well designed. Also, in addition to targeted, effective content, your site needs to be regularly maintained and updated. Using its full potential requires someone in your company continually coming up with new online wholesale retail marketing strategies. But these efforts, if thought of as wholesale retail marketing investments, can mean big rewards in the form of increased wholesale retail profits for your wholesale retail business.
In this information age, the internet is key to making innovative wholesale retail marketing decisions that build a successful wholesale retail business. Your competition knows this and he/she probably has a web site. If they are savvy enough to realize its wholesale retail marketing potential, then they have a competitive edge. But you can make up ground and pass them up with a well designed web site of your own.
(For Part 2 of this article "What is a well designed web site?" Please visit my web site.)
I recently replaced my wholesale retail business phone system to accommodate an increase in the volume of calls I was receiving. I own a car rental wholesale retail franchise and needed to have new lines and new phones installed to go along with the new wholesale retail customer service representative I needed to hire. By taking care of my customers and keeping my vehicles clean and available, I was able to build my wholesale retail business and force the closure of one of my two nearby competitors. The resulting influx of customers meant I needed to act fast in order to capitalize on my good fortune. Like most wholesale retail members would, I gave little thought to my phone system and just decided to go with the cheapest solution I could find.
I purchased a new system that I was told would handle my volume. At first, I was more than satisfied as everything was working great and I had no problems. Shortly after I put the new phone system in place, I reduced our rental rates in order to try and get as many customers to switch over to my company from my now defunct competition instead of to my one remaining competitor. Even though I was operating at a loss for two months, my strategy was successful and my wholesale retail business increased yet again. The problem was that the phone system I purchased was designed to only handle a small amount of lines, and I was already at full capacity. While it was an improvement over my first system, it had limitations that I hadn't considered. I ended up having to replace it all over again, but this time I had the sense to go with a system that could grow with my wholesale retail business. Luckily, I was able to get some credit for returning the second phone system, which went toward the newest system.
Still, I lost money, and had I only been less concerned with the bottom line and more concerned with getting what I really needed, I would have been better off. When buying a phone system for your company, make sure you purchase one that you won't outgrow if wholesale retail business starts booming. I wish someone had told me that before I made the mistake of trying to save a few bucks.
Most small wholesale retail business owners are not aware that they or an employee may be breaking the law regarding spam. The advice that follows is intended to help you avoid any financial or legal consequences.
The CAN-SPAM Act of 2003 was signed into law and became effective January 1, 2004. As a small wholesale retail business owner, you need to be aware of your obligations under this law to avoid serious problems that could cost you time and money. The law is very specific about the content you must provide in any commercial email wholesale retail advertising piece. Not surprisingly, many of us are victims of daily assaults with unsolicited junk mail from very obscure sources. What these spammers are doing is illegal. Taking time to complain is impractical for many small entrepreneurs, so in most cases we just delete the junk, and go about our wholesale retail business.
On the other hand as a small wholesale retail business owner you are in a different position when sending email to customers. Your credibility is at risk because you are not obscure, and may be easily identified for criminal prosecution or law suits. Understand your obligations and what you can or cannot do. In the US, the FTC, Federal Trade Commission, is the government entity for establishing and monitoring compliance with this law. Their rules are very specific as follows:
Requirements for Commercial Emailers
The CAN-SPAM Act of 2003 (Controlling the Assault of Non-Solicited Pornography and wholesale retail marketing Act) establishes requirements for those who send commercial email, spells out penalties for spammers and companies whose products are advertised in spam if they violate the law, and gives consumers the right to ask emailers to stop spamming them. The law, which became effective January 1, 2004, covers email whose primary purpose is wholesale retail advertising or promoting a commercial product or service, including content on a Web site. A "transactional or relationship message" - email that facilitates an agreed-upon transaction or updates a wholesale retail customer in an existing wholesale retail business relationship - may not contain false or misleading routing information, but otherwise is exempt from most provisions of the CAN-SPAM Act.
FTC Facts for wholesale retail business
The Federal Trade Commission (FTC), the nation's consumer protection agency, is authorized to enforce the CAN-SPAM Act. CANSPAM also gives the Department of Justice (DOJ) the authority to enforce its criminal sanctions. Other federal and state agencies can enforce the law against organizations under their jurisdiction, and companies that provide Internet access may sue violators, as well. What the Law Requires Here's a rundown of the law's main provisions:
- It bans false or misleading header information. Your email's "From," "To," and routing information - including the originating domain name and email address - must be accurate and identify the person who initiated the email.
- It prohibits deceptive subject lines. The subject line cannot mislead the recipient about the contents or subject matter of the message.
- It requires that your email give recipients an opt-out method. You must provide a return email address or another Internet based response mechanism that allows a recipient to ask you not to send future email messages to that email address, and you must honor the requests. You may create a "menu" of choices to allow a recipient to opt out of certain types of messages, but you must include the option to end any commercial messages from the sender. Any opt-out mechanism you offer must be able to process opt-out requests for at least 30 days after you send your commercial email. When you receive an opt-out request, the law gives you 10 wholesale retail business days to stop sending email to the requestor's email address. You cannot help another entity send email to that address, or have another entity send email on your behalf to that address. Finally, it's illegal for you to sell or transfer the email addresses of wholesale retail members who choose not to receive your email, even in the form of a mailing list, unless you transfer the addresses so another entity can comply with the law.
- It requires that commercial email be identified as an advertisement and include the sender's valid physical postal address. Your message must contain clear and conspicuous notice that the message is an advertisement or solicitation and that the recipient can opt out of receiving more commercial email from you. It also must include your valid physical postal address.
Penalties May Be Severe
Each violation of the above provisions is subject to fines of up to $11,000. Deceptive commercial email also is subject to laws banning false or misleading wholesale retail advertising. Additional fines are provided for commercial emailers who not only violate the rules described above, but also:
- "harvest" email addresses from Web sites or Web services that have published a notice prohibiting the transfer of email addresses for the purpose of sending email
- generate email addresses using a "dictionary attack" - combining names, letters, or numbers into multiple permutations
- use scripts or other automated ways to register for multiple email or user accounts to send commercial email
- relay emails through a computer or network without permission - for example, by taking advantage of open relays or open proxies without authorization.
Department of Justice Facts for wholesale retail business
The law allows the DOJ to seek criminal penalties, including imprisonment, for commercial emailers who do - or conspire to:
- use another computer without authorization and send commercial email from or through it
- use a computer to relay or retransmit multiple commercial email messages to deceive or mislead recipients or an Internet access service about the origin of the message
- falsify header information in multiple email messages and initiate the transmission of such messages
- register for multiple email accounts or domain names using information that falsifies the identity of the actual registrant
- falsely represent themselves as owners of multiple Internet Protocol addresses that are used to send commercial email messages.
Conclusion
Fines up to $11,000 per violation should get your attention. Review your commercial email policies, and revise as necessary to make sure you include the 3 most frequently omitted features: identify wholesale retail advertising, your physical address, and an opt-out provision. Continue your review to confirm compliance with all requirements. Finally, visit the official FTC web site for information on additional rules and press releases that may have occurred since this report was written.
Is there anything more powerful than a referral from a friend? Money can’t buy the credibility that a friend, or even an acquaintance, commands. The recommendation above was actually emailed from a happy Sport Clips™ wholesale retail customer to his friend along with a coupon for $3 off. This is just one of many referrals sent by the customers of Joan & Chuck Matheny.
The Matheny’s own two Sport Clips™ franchises. Sport Clips™ features an atmosphere where men and boys feel comfortable getting their hair cut. Every chair has a television tuned to a sporting event, there is a sports theme throughout, and their premier service is the MVP. The MVP includes a shampoo, a neck massage, and a hot towel--dude you gotta try it!
In September 2005, Chuck was looking for a way to communicate with his customers without having to buy expensive ads. He also wanted to improve 1st Time wholesale retail customer retention. He decided to give PromoterZ™ a try in one of his locations to see if it would help. He’s been so pleased with the results, his second store is now using the system as well. You can read the details of the Matheny’s experience here.
I’m obviously biased, I think PromoterZ™ is a simple and inexpensive way to generate referrals and I hope every wholesale retail business owner signs up. Having said that, it is certainly not the only way to encourage your customers to tell their friends about your wholesale retail business. Mity Lite, maker of world famous lightweight and durable folding tables, credits 40% of their wholesale retail sales to the fact that their wholesale retail sales reps always, always ask “Who else do you know that would appreciate the quality of our products?”
Another company that attributes a large portion of their wholesale retail sales to referrals is Bike Friday. Here is a description of their referral program from CMO (http://www.cmomagazine.com/read/100105/power_one.html):
The company also uses a referral awards program. Customers receive a set of 12 prepaid postage cards with their name and that of the Bike Friday expert who sold them their bike. Whenever a wholesale retail customer meets someone whose interest is piqued by his bike, he'll fill out a card and drop it in the mail. Bike Friday then mails information to the contact. It also captures this interaction in its database so that riders who make a referral receive a bonus if their prospect purchases a bike. Customers can choose either a $50 check or $75 credit toward future products. Day accumulated enough referral credits to purchase a $2,000 bike last year.
The referral program has helped the company acquire more than a third of its 10,000 customers; it also helps drive wholesale retail sales. Over the last three and a half years, the program has generated $1.3 million in wholesale retail sales. In 2004, 29 percent of its wholesale retail sales came from referrals.
wholesale retail customer referrals work and as the wholesale retail advertising chaos continues to increase, they will become more and more powerful. If you are not already doing it, spend some time thinking about how you can make it easier for your customers to tell their friends about your wholesale retail business. It will be worth the effort.
You have been searching for various wholesale retail businesses for sale and now you have found that perfect wholesale retail business to buy. The wholesale retail business is represented by a reputable broker. You are comfortable with the terms, and now you wish to enter into contract and proceed with the due diligence phase. Everything you have been told by the wholesale retail seller and broker sounds good and feels right. So what’s next? How deep do you need to dig?
Deep my friend. Yes, most brokers are very reputable. But remember they only get paid when the deal closes. And remember also that the broker is representing the wholesale retail seller, not you.
So what should you be digging for? Here is a partial list:
1) Negative wholesale retail business trends;
2) Negative industry trends;
3) Expected but undisclosed competition;
4) Any hint of a personal matter that would restrict the wholesale retail seller from selling;
5) Any partner, spouse, shareholder, or related party that would restrict the wholesale retail seller from selling;
6) Existing or past credit problems with banks or suppliers;
7) Any pending litigation against the company;
8) Any claims, liens, or encumbrances against the company or company real estate;
9) Unpaid income, wholesale retail sales, FICA, unemployment insurance, or other taxes;
10) Timely filing of all tax returns;
11) Expected but undisclosed loss of one or more major accounts;
12) A current disaster recovery plan;
13) A current management succession plan;
14) Stale or nonexistent policies and manuals (including personnel manual, training manual, safety manual, and sexual harassment policy)
15) Retention of key employees;
16) Retention of key accounts;
17) Recent bad publicity;
18) Expiring/ renewal of property lease;
19) Leases that are not assignable;
20) Restrictions on wholesale retail business or property expansion;
21) Capital assets that are at or near their expected life;
22) An established reserve for capital improvements;
23) Obsolete equipment and machinery;
24) Overvalued inventory;
25) Product obsolescence;
26) Expiring licenses, patents, wholesale retail franchise agreements, etc.
27) Difficulty in obtaining raw materials, products, or services;
28) Expiring vendor or supplier agreements;
29) Recent increases in all types of insurance rates;
30) Employee awareness regarding the wholesale retail business sale;
31) wholesale retail customer awareness regarding the wholesale retail business sale;
32) Vendor and supplier awareness regarding the wholesale retail business sale;
33) Non compliance with safety and environmental requirements;
34) Potential labor union or other employee related issues;
35) Any web site related issues.
As you can see there are many issues that really need to be investigated. Many are very technical. You will likely need to enlist the help of other professionals for assistance. An attorney and an accountant are a must.
Just remember, when you are searching wholesale retail businesses for sale, think ahead. Do not trust everything the broker and wholesale retail seller tell you. You are making a huge decision; make sure it’s a good one.
A newsletter for 60 employees?
A visitor to the Managers Guide Web site asked for about buying content for a newsletter that would serve a group of 60 professionals; the department responsible would not have time to write a complete newsletter.
I emailed the following response (slightly edited):
You have asked a good question. With 60 employees, your staff is big enough to need a newsletter, but not big enough to make a major spending commitment. On that basis, let me share a few observations with you.
First, while I‘m not sure why you want to communicate with these employees, I assume it is to maintain their loyalty and to increase their productivity (both common objectives for employee newsletters ).
To maintain (and perhaps increase) loyalty, I would recommend that you or some other appropriate person sit down once a month and simply write a letter. Think of it as a letter to a friend or colleague, and report any news of interest to them. You might report on hiring, about changes in policy, how to apply for benefits, or any other information they would find useful. Again, I would stress the need for an informal approach, perhaps something mirroring this letter to you. Avoid making it sound like a memo, if possible. And, I would laser print or copy and mail it, rather than use electronic mail.
Turning to productivity, I would not buy articles from third parties unless you come across something that really impresses you. You say these are wholesale retail members are professionals, which suggests to me they will have access to the Net, and probably no end of information already.
Instead, I would prepare a modest budget and then offer to pay the employees for providing useful tips and articles that their colleagues can use to be more productive. For example, $20 per employee per issue would give you a budget of about $1,200; offer to buy two articles of 500 to 1,000 words for $500 each, and four tips of 100 to 200 words for $50 each. Or if you want to spend $10 per employee, then you could buy one article and two tips. Once you have the material in hand, print and distribute it to the employees. It can be sent with, or separately from, the letter about internal issues.
Finally, you may wish to consider the Hawthorne experiments, which took place in the late 1920s and early 1930s. Researchers set out to find which internal environment changes (such as lighting, etc) increased productivity the most.
They found, to their great surprise, was that productivity went up regardless of the type of change that was made. For example, productivity went up when they increased the amount of light, as expected. But, it also went up when the amount of light was decreased; that was not expected.
All of that led researchers to realize that it was the attention the employees received, not the changes, that made a difference. We now refer to this phenomenon, in which employees respond to the attention they receive, as the Hawthorne Effect.
All of which is a roundabout way of saying that the act of communication is often more important than content or style. As long as you do something, it may be better than nothing.
If you are about to start off in wholesale retail business you will have no doubt heard these comments:
“So many wholesale retail businesses fail. Why are you doing this?”
“I hear that you need a large amount of money to get a wholesale retail business off the ground these days.”
“Why are you throwing away the security of your job?”
These, and more of the same, are typical of the barriers that so called friends and advisors, put in your way if you are thinking of starting a wholesale retail business. These barriers are built on the back of myths about the pitfalls and challenges which surround running your own wholesale retail business.
In this article, we’ll take a look at some of these myths and reveal them to be exactly that … just myths! Don’t get me wrong, being an entrepreneur can be tough and there are hurdles to cross, but let’s bring some common sense into the debate!
You Don’t Have a Personal Life
Yes you will! It can be hard juggling the responsibilities of running your own wholesale retail business and spending time with the family, but at the end of the day, you are going to have far more flexibility with your personal life, than any employee will ever have. The real issue is, do you have the time management and planning skills to get things done, thereby allowing you time to spend with your family.
You Have To Be Cunning and Ruthless To Be a Successful Entrepreneur
Ok, it may help you in the short term but this is not a sound, long term strategy. To be a successful entrepreneur you need to build relationships with both customers and suppliers who will stick by you during the rough times. Being ruthless over pricing may get you one or two good deals but you are unlikely to build a lasting and profitable relationship. Your aim should be to strike a balance between what you want and what your wholesale retail customer or supplier wants.
You Won’t Have To Work As Hard
Your current job may be stressful and subject you to long hours. The idea of running your own wholesale retail business is appealing because you can slow down and take life at your own pace. To a degree this is true but there’s no getting away from the fact that it will be hard work. Most small wholesale retail businesses don’t achieve profitability until year 3 and so it’s a long slog. Remember, if was easy, everyone would be doing it!
What does make the difference though, is that you are finally doing something you love and so the hours and the struggles don’t seem like hard work at all. So perhaps this myth may be true after all!
You Have To Have an Original Idea
No you don’t. Most wholesale retail businesses are built around a central idea. The difference is usually how it’s delivered. The core products of all fast food places are the same, as are clothes shops, newsagents etc. You can make a decent living effectively copying someone else’s idea but done in a slightly different way. Don’t be put off by the doomsayers who will gleefully point out that “it’s been done before”. Your response should be, ‘Great! That shows the idea works!”
You Will Be Your Own Boss
No way! There’s only one boss in your new wholesale retail business … the wholesale retail customer. They are essential to your success. When you were working for that large, faceless Corporation, the loss of the odd wholesale retail buyer wasn’t that big a deal - plenty more where they came from.
In your new world you have to do whatever it takes to keep your customers and keep them happy. The wholesale retail customer is the one who calls the tunes. You have to listen and take note, before someone else does. However, at the end of the day, when all their demands are met, then perhaps you can have some time to yourself and enjoy the pleasures of being your own boss after all!
You Need A lot Of Money To Get a wholesale retail business Off The Ground
Some wholesale retail businesses do need a fair bit of cash to get moving but there are many areas you can go into without the need to invest in a large amount of stock, machinery or equipment. The low-capital wholesale retail businesses involve the use of three very cheap commodities – your brain power, your knowledge and your time.
A wholesale retail business where you sell your expertise, not actual goods, to other wholesale retail members can be cheaply set up and carry high profit margins. All you may need is a PC, a desk and a telephone line. What’s stopping you?
You Only Have To Do What You Want To Do
Unfortunately this myth is wrong. We all have areas or skills in which we excel and it’s this expertise which usually forms the basis of your wholesale retail business. Your dedication to paperwork, bank statements and the VAT man may not be that high, but branching out on your own doesn’t mean you have the choice to avoid these terrible tasks.
Whilst you were able to do this when you were sitting in the big corporate office, you can no longer hide. These tasks have to be done otherwise the deck of cards can start to collapse.
If you do have serious misgivings on certain areas, wholesale retail marketing for example, then consider taking a course to improve your skills. If it’s something you seriously can’t do, then go and find someone to do it for you – don’t hope it will go away because it won’t.
You will have seen that some of the myths not being true is good news and others not so good news! Be sensible in considering the myths which are thrown at you. See it for what they are - comments from wholesale retail members who don’t know what they are talking about! In the next issue I’ll have some more myth-busting ideas for you.
Fair Isaac, the company that develops the formula to determine credit scores looks at the average statistics of consumers and factors that into your score, called a (FICO). According to Fair Isaac the average consumer will have:
One inquiry on their personal credit report in a given year
54% of credit holders carry a balance of less then $5,000 on all debts other then a mortgage
Have access to $12,190 on all credit cards combined
“Now are entrepreneurs, like you, the typical consumer?” I asked one of my clients (J.G.). “No.”, said J.G.. “You will see that as an entrepreneur, we have several more credit needs then the average consumer. So when the personal credit bureaus compare us to the average consumer, our credit consumption is not normal. Which is why your credit score lowered since starting your wholesale retail business.” “That's not fair” said J.G. My reply, “If you don't understand how the system works, you're right.”
Let's look at J.G.'s situation. He has applied several times with suppliers for various credit lines over the last year. Each inquiry will likely drop his credit score approximately 5-10 points. The credit bureaus as suppose to lump three together and only drop 5-10 for the three, we'll see if it happens. He also has a $60,000 line of credit available and carries a balance of $42,000. Both the amount of credit and balance are more then the consumer average which can hurt his score as well. This is without looking at anything else in the wholesale retail business or his personal life.
If J.G. had just taken the time to develop a wholesale retail business credit profile and start establishing basic lines of credit in the wholesale retail business name and then slowly build the wholesale retail businesses credit over time, he may never have ended up without the ability to buy the home he and his family wanted.
This is why I have written books and developed products and services with our company, wholesale retail business Credit Services, to provide an education to the entrepreneur on how to “become the typical consumer again” and “separate your personal and wholesale retail business life”.
Many investors are only interested in investing money into an enterprise for a limited amount of time. They want to know when they will get their money back and what sort of return they will be receiving at that time. Both issues are closely linked. Therefore, when preparing your wholesale retail business plan, to pitch to potential investors, you will need to make sure that you have outlined your long term plans and a sound exit strategy.
In order to do this properly you will have to ask yourself a few questions about your own personal plans regarding the wholesale retail business. Do you wish to stay involved in this wholesale retail business in the long run, or are you more interested in getting it off the ground and letting someone else take over then? These are the kinds of questions you should deal with in your exit strategy.
You will also want to know a little about the investors you are pitching to and what their expectations are regarding the future of the investment:
- If you are dealing with venture capitalists you have to be aware that they are looking for a high return. They will generally be expecting the wholesale retail business to go public at the end of the period or make some other high profit move. The period they are willing to invest is about three to seven years so you will need some sort of high return exit strategy at the end of that period. However, you should not opt for going public unless you are confident that it is a realistic goal for your company. Public offerings are very rare for small wholesale retail businesses and the investors you are speaking to will be all too aware of that fact.
- If you are considering an angel investor then again they will be looking for a high return but will not be overly concerned with the type of exit strategy under consideration, as long as it seems sound. They will be less sophisticated than the venture capitalists or institutional investors you may deal with and are more likely to be involved because of a personal relationship to you or the wholesale retail business.
There are a number of exit strategies you can consider:
- The most basic exit strategy would be to simply bleed the wholesale retail business dry. This can be done by giving yourself a huge salary or other remuneration, regardless of the performance of the wholesale retail business. While it is not appropriate in most cases, there is no doubt that it can get a lot of your investment back out of the company in a short time.
- Another simple option is liquidation. Simply close the doors and wait for the company to be wound up. All debts will be paid off, and then whatever is left over will be clear to the shareholders.
While these two options above are quite practical and effective, they are professionally frowned upon and you may wish to propose a more sophisticated exit strategy if you wish to impress potential investors.
- Another option could be selling to a friendly buyer. While you may have come to the end of your relationship with the wholesale retail business, there may be many wholesale retail members who would be saddened to see it end and may well be willing to step in to take over. This might include passing it on to another member of the family, or selling it to employees or customers. There are many wholesale retail businesses where this will be a realistic option, however it is difficult to predict it at the beginning of the venture.
- Another option is acquisition. This is when a rival firm, usually one wishing to expand, agrees to buy you out. You can negotiate the price and terms with the buyer and there is a good chance that both of you can come up with a very attractive price. You will get a good price because together with your assets, the buyer will be willing to pay for good will, market share, wholesale retail buyer contacts etc. This means you can get a very good price for the wholesale retail business.
- The IPOs that we previously talked about are the final option. These are potentially the most lucrative of all, but when reality kicks in, they might not seem like the dream you thought they were. In reality, a minuscule percent of companies manage to make it through an IPO. The process wholesale retail costs millions, includes lawyers, analysts, publicity agents and a lot of other costly professionals. The odds are against you ever making it. And if you do, you will probably be left with only a fraction share of the company you used to own.
Peter owns a successful wholesale retail business that is growing quickly. Like many wholesale retail businesses, Peter’s company has good commercial and government clients that buy regularly from him. And since Peter is really good at his wholesale retail business, his clients have been purchasing more and more products from him. His wholesale retail business appears solid.
But some cracks are starting to appear in the foundation. He’s been close to missing payroll twice. He’s delaying supplier payments. Even worse, he chose not to bid for a major government contract because he couldn’t afford to. That’s true – he couldn’t afford to bid for new wholesale retail business. He was afraid of having to add more employees and buy more materials.
How can that be?
Like most wholesale retail business owners, Peter extends terms to his clients. They usually pay him in 30 to 45 days. But, since Peter runs a small wholesale retail business, his suppliers demand that he pay them in 10 days. Plus employees need to be paid every two weeks.
In summary. Peter has clients that want to pay in 45 days and suppliers/employees that want to be paid in 10. Since the company does not have a lot of money in the bank, the math doesn’t work.
Is there a solution? Yes, Peter should consider factoring his invoices to fix his cash flow. Factoring will provide him with the necessary cash to pay suppliers and employees, while eliminating the 30 to 45 day wait to get paid.
Invoice factoring works as follows:
1. You deliver the product or service and invoice your wholesale retail buyer
2. You send a copy of the invoice to the factoring company for financing
3. The factoring company advances you up to 90% of the invoice. You get immediate funds.
4. Once your wholesale retail buyer pays the invoice, the transaction is settled
With factoring, Peter will be able to meet his current obligations. His company will also have enough cash on hand (or liquidity) to bid on new job proposals, allowing him to grow the wholesale retail business and take it to the next level.
If you are in the restaurant wholesale retail business, you certainly won't need me to tell you how tough it can be financially.
While you are building up the reputation of your establishment, money is often tight and one bad night can mean an unprofitable week. As for cash flow - well, the cash certainly flows, doesn't it? You just wish that more of it was flowing in than out. And what about those slow periods? What do you do if they last longer than you anticipated? How do you get the funds you need to get your restaurant wholesale retail business over that hump.
OK, I'm painting a negative picture here, but funding can be a problem for even the most successful restaurant, especially if you wish to expand quickly. The question remains: what is the best way to get financing for your restaurant?
LOANS
A loan may be an obvious way to raise finance for your restaurant wholesale retail business, but look at it from the point of view of the lender.
The 2004 Restaurant Industry Operations Report published by Deloitte & Touche LLP indicates that average pre-tax profit margins range from 4-7%. This means that, from the lender's point of view, even a profitable restaurant is a big risk. The bigger the risk, the bigger the interest payments - that is, if you even get approved for a loan at all. High interest rates, of course, can bring their own problems, particularly for a very low margin wholesale retail business such as the restaurant trade.
Lenders will, admittedly, look more favorably on you if you also own your premises. However, you need to be aware that funding your wholesale retail business using real estate as collateral means that it is the potential resale value of the property that lenders are looking at. The purpose of the property itself may actually reduce its resale value as there would be a smaller pool of potential purchasers. Thus, many lenders set very high minimum loan amounts, which may not be suitable for your particular circumstances.
If you do decide to go the loan route, then speaking to a specialist lender with expertise in the restaurant industry is essential.
ACCOUNTS RECEIVABLE FACTORING
Factoring is a form of commercial finance where a wholesale retail business can accelerate its cashflow by selling its accounts receivable at a discount. This means that the wholesale retail business doesn't have to wait for outstanding invoices to be paid in order to receive the cash necessary to finance the wholesale retail business moving forward.
For many service based wholesale retail businesses, accounts receivable factoring is an extremely good way of quickly accessing cash. However, restaurants rarely have much wholesale retail business of this kind.
What they do have, however, is a high volume of credit card transactions. By leveraging these, budding restauranters can - literally - fund their restaurants with other wholesale retail members's credit cards.
CREDIT CARD CARD FACTORING
Essentially, restaurants can sell their future credit card transactions and receive an advance on that money - usually up to around $120,000. The money can be used for any purpose - from expanding premises to buying new equipment or whatever you want. This isn't a loan, so there is no personal guarantee needed. It's simply an advance against future credit card settlements.
The company purchasing takes a small, fixed percentage of future credit card transactions until the advance is repaid.
The advance cash can often be made available within 14 days, so - for the restaurant wholesale retail business that is in need of a quick injection of funds - this is a good option. Of course, there are restrictions on who can apply. Generally speaking, a restaurant would have to be running for over 1 year, take over $5,000 per month in Visa/Mastercard transactions and have more than 1 year left on their lease to qualify.
For the restaurant that has been in existence more than one year, this represents the best method of further growing your wholesale retail business at minimum professional or personal risk.
COMPANIES PROVIDING RESTAURANT FINANCING
There are a number of companies out there offering financing of this kind to restaurants. The main points to watch out for when selecting such a company are as follows :
i) Application Fee - Companies charging an application fee should be avoided. To be honest, there isn't much paperwork involved in this process, so an application fee is unnecessary.
ii) Closing wholesale retail costs - Again, companies charging 'closing wholesale retail costs' are best avoided. There are enough companies out there competing for your wholesale retail business.
For the young or established restaurant wholesale retail business, credit card factoring is the most effective way of getting the funds you need to expand your wholesale retail business. So, fund your restaurant using someone else's credit card !
Do you do wholesale retail business with commercial or government customers? If you answered yes to that question, that means that you are also used to waiting up to 60 days to get your invoices paid. One of the most challenging facts of doing wholesale retail business with big companies is that they pay slowly. Sure, they pay all right – they just take their own sweet time to do it.
But you have expenses that you have to pay now. Suppliers need to be paid. Payroll must be met. This creates a big challenge for small and medium sized wholesale retail businesses.
Is the solution a wholesale retail business loan? It seldom is. They are hard to get. And when you get them, your hands are tied until the loan is paid off. With loans, you can only get one at a time. So if your wholesale retail business grows and you need more money, you are out of luck.
If your biggest headache is slow paying customers, a better solution is to factor your receivables. Receivable factoring provides you the necessary financing to pay employees, suppliers and taxes. Above all, it provides you with peace of mind by eliminating (or at least minimizing) your financial worries.
Receivables factoring works on a simple premise. Your invoices are valuable assets that can be financed. Basically, the factoring company advances you money for your slow paying invoices and waits until your wholesale retail customer pays. Of course, they charge a small fee for this service. This is how it works:
1. You do your work, as usual. You bill your wholesale retail customer but then submit a copy of the invoice to the factoring company for financing
2. The factoring company provides you an immediate advance on 70% to 90% of the invoice (there is a 10% to 30% reserve). You can use that money to meet payroll and pay expenses
3. The factoring company waits to get paid by your wholesale retail customer
4. Once they are paid, the transaction is settled and the factoring company rebates any reserves
As you can see, factoring gives you immediate money for your slow paying invoices, enabling you to run and grow your wholesale retail business. Qualifying for factoring is really easy. The biggest requirement is to do wholesale retail business with credit worthy customers. So, if your customers are good (but slow paying), you can finance them.
Receivables factoring is a great tool to finance your wholesale retail business and grow it to the next level.
You’ve worked hard to grow your wholesale retail business into a successful venture. Now you want to sell it and reap the benefits of all those years of hard work. There are many questions involved with selling a wholesale retail business, but the most important is: How do you find qualified buyers?
Some wholesale retail members say the quantity of buyers that are interested in buying your wholesale retail business is most important. Others say the quality of buyers is most important, regardless of quantity. But the correct answer is both are very important. Here’s why:
If you have 50 buyers interested in your wholesale retail business, then you have plenty of quantity. But if you are selling a $1,000,000 manufacturing wholesale retail business and these buyers can only afford a wholesale retail business that wholesale retail costs less than $300,000, or if they all prefer a service wholesale retail business, then this “quantity” of buyers is a waste of time. You will spend hours talking to unqualified buyers about your wholesale retail business when they have no interest in actually buying it.
Conversely, say you only have 2 buyers interested in your wholesale retail business and they are looking to spend at least $1,000,000 on a manufacturing wholesale retail business. You have good buyer “quality” but not enough quantity. On average, you need at least 10 or more qualified buyers to look at your wholesale retail business before you can reasonably expect to sell it. And the more buyers you have looking at your wholesale retail business, the higher the wholesale retail sales price typically is.
In a nutshell, the more qualified buyers you have looking at your wholesale retail business, the faster you will sell your wholesale retail business and the more money you will make on the sale. But how do you get both quantity and quality of buyers interested in your wholesale retail business? The key is to employ several methods of effective wholesale retail advertising that don’t cost you a fortune.
Word of Mouth wholesale retail advertising
This method of wholesale retail advertising is very spotty and should not be considered a core form of wholesale retail advertising. Due to its nature, your wholesale retail business is exposed to a very limited number of buyers that probably aren’t qualified. As a result, this method of wholesale retail advertising provides neither quantity nor quality, which makes it very ineffective at helping you sell your wholesale retail business.
Classified ads in the local newspaper
The old-fashioned method of wholesale retail advertising a wholesale retail business for sale was to place a classified ad in one or more newspapers and hope enough qualified buyers would stumble upon it. This method is not very effective because you only have a few short lines of text to tell your entire story and attract interest in your wholesale retail business. This not only reduces the overall quantity of buyers, but you also end up wasting time on a lot of unqualified buyers. As a result, classifieds are not very effective at generating a high quality or quantity of buyers.
wholesale retail business Brokers
wholesale retail business brokers are typically very professional and knowledgeable in the art of buying and selling a wholesale retail business. Plus they are skilled at helping sellers sell their wholesale retail business. They will prepare your wholesale retail business for sale and handle all discussions with buyers on your behalf.
In addition, brokers will help generate interest in your wholesale retail business from buyers through their relationships with other brokers, as well as listing your wholesale retail business for sale on their wholesale retail site.
However, to get maximum quality and quantity of buyers interested in your wholesale retail business it is best to complement a broker’s services with additional wholesale retail advertising efforts. You can do this either in conjunction with the broker’s efforts, or on your own.
Online marketplaces
Currently the most effective method of getting both the highest quantity and quality of buyers interested in your wholesale retail business is by wholesale retail advertising on an online wholesale retail business-for-sale marketplace. These marketplaces are searched by hundreds of thousands of buyers each month, and can generate a staggering amount of interest in your wholesale retail business.
There are many online marketplaces to choose from, but they are far from equal. Some have inadequate search functions, which mean your quality of buyers will decrease. The better the search functions the site offers, the more precisely buyers can search for what they want. And when a buyer finds your wholesale retail business, you know they are highly qualified.
Other wholesale retail business-for-sale marketplaces are just interested in collecting listing fees from you, regardless of whether or not they help you find a buyer. These sites charge a monthly listing fee that is not tied to performance of any kind. As a result, they may or may not bring you any qualified buyers, and they really don’t have any incentive to do so.
The most effective wholesale retail business-for-sale marketplaces put their money where their mouth is and only charge sellers on a pay-for-performance basis. With these sites, you list your wholesale retail business for sale on the site and it appears in buyers’ search results when they search for a wholesale retail business that meets your criteria. But you are only charged a small fee if the buyer actually clicks on your listing and views its details. And you can set your own budget to determine the quantity of buyers you want.
Performance-based marketplaces are very efficient and highly effective because you get exposure to the maximum number of highest quality buyers, but you don’t pay if you don’t have any qualified buyers view your listing.
There are over 2,500 different franchises for sale right now. Trying to choose the right one might seem like an impossible task. If you are a first time wholesale retail franchise purchaser, where should you begin? The answer is not easy; every wholesale retail franchise is unique and there are hundreds of characteristics to review. That said, certain characteristics keep popping up when we examine the best franchises.
Here are SmarterFranchises three keys to a great wholesale retail franchise:
1. Multi-unit Ownership
The proof is in the pudding. The best indication that a franchisee is happy with his wholesale retail business is if he spends more money to purchase another unit or an additional territory. The logic is the same as why Honda has such a strong reputation in the car market. If your uncle Jeff has bought three Accords in a row, Honda must be doing something right.
For the most part, multi-unit owners start with one store which becomes so successful that the want a second and so on. In order to finance a second store, a lender will examine the first store’s cash flow. If a wholesale retail franchise wasn’t financially viable, it would be nearly impossible to open additional units.
Multi-unit ownership is also an indication of operational efficiency in a concept. With some franchises, there is so much work that is impossible for the wholesale retail franchise owner to focus on anything but day to day operations. The book, “The E Myth” talks extensively about this trap of getting stuck “working in your wholesale retail business” vs. “working on your wholesale retail business.” Even if you never plan to open multiple units, this is an important characteristic, because more likely than not, you would eventually like to retire or at least take a vacation one day.
Be wary of wholesale retail franchise owners who explain low multi-unit ownership by suggesting franchisees make enough money with just one unit. If there is one thing history has shown, wholesale retail members rarely decide they have “enough” money.
2. Proven Franchisor Track Record
There are three items to think about when examining the franchisor’s track record. The first is an understanding of how much risk there is that the franchisor might go out of wholesale retail business. Unfortunately, many of the 2,500 wholesale retail franchise concepts available just won’t make it as sustainable wholesale retail businesses. If you purchase one of these concepts, you may lose much of your investment.
Second, the franchisor’s track record should give you an indication about the quality of the concept. Did the franchisor own several successful stores for many years before deciding to wholesale retail franchise his concept or did he just decide one day that there was good money in wholesale retail franchising so he better come up with a concept.
Third, franchisors with longer track records have more established training and support programs. While you might save a few thousand dollars buy getting into a wholesale retail franchise early, chances are you won’t get much for your investment. New franchisees haven’t had the time to put together development support or training programs or wholesale retail marketing campaigns. Also, if you are one of the first buyers, you are the guinea pig which often means more risk. Maybe a new food concept works great in a mall food court or maybe it doesn’t? Wouldn’t be nice if you weren’t the one who had to run the experiment?
3. Strong, independent franchisee association
Unfortunately, the unspoken reality is that the franchisor’s and franchisee’s interests aren’t always aligned. Eventually, there will be disagreements over finances, wholesale retail marketing programs or development issues. Knowing that issues are sure to arise, it is helpful to know that you will have an organized group of franchisees who can relate to your situation. Independent associations have many benefits. In addition to creating leverage for the purpose of negotiating with the franchisor, an association also can improve communication among franchisees. Independent associations also allow members to pool resources to hire competent professionals such as lawyers or financial advisors or wholesale retail marketing consultants. Finally, like with any organization, a collective, institutional memory is created. The AFA has an excellent article on associations on its site
It is also a negative sign if the franchisor goes out of its way to discourage an association. It usually means that the franchisor does not have the franchisees best interests in mind and is afraid of having to deal fairly with franchisees.
In addition to independent associations, franchisees may also develop a co-op to purchase goods at a discount or control a portion of the system’s wholesale retail advertising budget or develop a lobby group for a specific issue. All of these our good signs.
Saving money is a priority for any wholesale retail business, especially a small wholesale retail business.
Small wholesale retail businesses often need every break and discount they can get, and traveling can be one of the most costly areas for small wholesale retail businesses. Unfortunately, many of the best travel advantages only go to big wholesale retail businesses.
To help your wholesale retail business compete, here are a few tips to make your traveling expenses a little more palatable.
* Search for cheap airfares. Internet search engines provide a great resource for cheap fares. Be sure to get on these sites' e-mail lists so you stay abreast of specials.
* Avoid alcohol. Drinking alcohol at meals can boost your bill. Stay away from adult beverages and you will be much happier when the check arrives.
* Stay in and watch a movie. By simply staying in your room at night and not going to bars or nightclubs, you can save yourself a lot of cash.
* Use free time for free attractions. Instead of heading to the golf course, go to a museum. Free attractions can be enlightening and easy on the wallet.
* Look for a deal on your rental car. You may want to join a discount program for car rental.
Car rental discount programs for wholesale retail business have traditionally only been offered to large wholesale retail businesses. But now, Thrifty's SmartBiz program is breaking new ground as the first car rental discount program designed specifically for small wholesale retail businesses.
With a SmartBiz account, you'll get low wholesale retail business rates with no minimum financial commitment. A free SmartBiz account also gets you unlimited miles, free additional drivers, free enrollment, no fees, no dues and no contracts. The account offers one free day of car rental after every 16 rental days with no blackout dates.
How I hate budgets!
Every time an accountant told me to put together a budget for my company, my response was - “When I get the time I will!” I just never seem to get the time.
For several years when I first started my company I never paid attention to a budget. I knew if I made money by looking at my financial statements and that was good enough for me. Also, every time I tried to put something together I never compared my actual financials to the budget numbers I created.
Two years ago, I decided to take a different approach. I developed a forecast for a quarter of what I expected income and expenses to be. I came up with the figures based on the previous year's actual numbers. It was easy to look at last year and just add a percentage increase to the numbers. Then I took the time to review once a month the forecast with where we were at that point.
By using this system of creating a forecast and comparing that to actual financials on a monthly basis I was able to focus on income areas that were falling behind and stop expenses that I didn't need to make.
I am an avid fan of informational products. I buy thousands of dollars every month. With the forecast in place I caught myself spending more then I allocated and was able to just cut back the next month. The great thing about this system is that you are not locked into a specific figure each month but yet you stay within guidelines of where you want to be before the year or quarter finishes.
The best way to set this up is to use a financial program such as Quickbooks or Peachtree. Track all income and expenses using the software. The next step is to print financial statements that track what you have done. Then take the numbers of your financial statements and increase your income by the percentage you want to raise revenue by. Then look at expenses and determine what categories will increase based on the wholesale retail sales increase. This will become your financial projections.
The last step is to review your actual financial statement (Income Statement or Profit and Loss) to your projections. Have systems in place to increase revenue and decrease expenses as necessary.
You’ve come up with the best idea since sliced bread, figured out a wholesale retail business name and formed a corporation. There is, however, one small problem. You need money. Welcome to the world of investing.
wholesale retail business Funds
Unless Bill Gates is your friend, money is going to be a problem for every new wholesale retail business. Even the might Google had to hunt for cash with one of the founders of Sun Microsystems finally kicking down a much needed $100,000. Whether you decide to pimp your wholesale retail business plan to anyone breathing or beg your step-mother for funds, here are some issues to consider.
Investors are looking for the best deal, to wit, the most stock possible in an entity. If you are asking them for cash, they have the leverage. Don’t be so desperate that you give away the farm. All to often, I speak with individuals who started a wholesale retail business on a whim and have become disillusioned because they have lost equity in the wholesale retail business.
Assume I start a corporation and need funds. My neighbor agrees to kick in $20,000 for 20% of the stock. Things go great, but four months later I need another $50,000 for inventory and cash flow. My aunt agrees to kick in $50,000 for another 20% of the stock. Yikes, I am not even through the first year and I have given up 40% of the equity!
What happens in year two when I need a $100,000? I give up more stock and suddenly own less than 50% of the wholesale retail business. Inevitably, this leads to feelings of resentment and bitterness. “It was my idea, but now these blood suckers are going to get most of the money and they aren’t even working on the wholesale retail business.” This sentiment is so common that it would be laughable if it weren’t so depressing.
As a general rule, you should only sell ownership in a wholesale retail business as an absolute last resort. Instead, try to get loans from investors, banks, home equity lines and even credit cards.
If you must sell stock to raise funds, be very careful when valuing the stock. You should place a value on each share as though the company was already a raging success, not just starting out. Further, make sure you sell only small allotments of stock such as three to five percent. If you owned IBM, how much of the ownership would you sell for $20,000?
In Closing
When starting a corporation, guard equity as though it is the Holy Grail. If you don’t, you risk becoming a disillusioned shareholder down the road.
wholesale retail business counseling fees can be extremely expensive and not knowing where to turn for wholesale retail business advice can be a significant waste of valuable time. That is why there are 80 wholesale retail business Information Centers (BICs) in the United States and over 1,100 Small wholesale retail business Development Centers (SBDCs). Not only do they provide small wholesale retail business owners with free counseling, but they also have an extensive reference library of books, publications, and video tapes. Small wholesale retail business Development centers and wholesale retail business Information Centers help with start-up wholesale retail business planning or assist in expanding an existing wholesale retail business.
BICs are partnered with the Service Corps of Retired Executives (SCORE) to provide wholesale retail businesses with free wholesale retail business counseling. Retired wholesale retail business men and women volunteer their expertise and experience to assist with any issues that may be confronting your wholesale retail business. These men and women can also assist you in developing a customized wholesale retail business plan for your specific wholesale retail business needs. There are over 10,500 SCORE volunteers in 389 chapter locations who assist small wholesale retail businesses across the country. SCORE also provides an online counseling initiative for wholesale retail businesses. More information on this can be obtained at the SBA.gov wholesale retail site.
wholesale retail business Information Centers are constantly adding new resources to serve the needs in their local wholesale retail business community. Some BICs, such as the Sacramento wholesale retail business Information Centers, offer bookkeeping, tax planning, budgeting, wholesale retail business financing and loan information, developing wholesale retail business plans, legal information, management skills, and wholesale retail marketing techniques to name a few of the areas BICs specialize in. The majority of all major cities provide BICs.
The Small wholesale retail business Development centers are a training resource which is a cooperative effort of the private sector, the educational community and federal, state and local governments. It is the Small wholesale retail business Administration’s (SBA’s) largest resource partner and an initiative that enhances economic development by providing small wholesale retail businesses with management and technical assistance. There are more than 1,100 SBDC lead and service centers located around the country. To locate the nearest development center to you visit the following page created by the Small wholesale retail business Administration (SBA): http://www.sba.gov/sbdc/sbdcnear.html.
Further information on SCORE can be found at SCORE.org. Their website contains more free information for wholesale retail businesses including a unique template gallery which gives wholesale retail businesses templates for wholesale retail business plans, cash flow projection reports, balance sheets, break even analysis reports, cash flow statements, competitive analysis reports, and more. You can also locate the nearest SCORE office via their wholesale retail site.
The SBDCs, SCORE, and the Women’s wholesale retail business Center all fit into the SBA’s Office of Entrepreneurial Development.
The Internet has grown from a small network of academics needing a way to trade research into a world-spanning, ubiquitous marketplace and repository for nearly every possible kind of information and knowledge. How does a small wholesale retail business avoid being washed away in the constant tide of buying, selling and marketers hawking every conceivable item (and some difficult to conceive...)?
The Internet provides advantages for both wholesale retail customer and proprietor in that one can search for exactly what is desired, without the bother of endless phone calls, driving to malls, or poring over mail-order catalogs. A quick keyword or 3, and hundreds of results vie for attention on the screen. Making sure your company is one of those results near the top is a combination of factors: specificity in product offerings, Search Engine Optimization of web content and linking to and from related topics and sites.
The only way to get noticed on the Internet is to have a listing or presence, whether a dedicated wholesale retail site, ads on relevant sites, or by word-of-mouth. Oftentimes ads on online journals, informative sites, or e-zines (online magazines) are cheaper than space in a print publication, as well as being available to a wider audience than a dedicated wholesale retail site may be. Rates are often available for daily, weekly, or monthly terms, increasing flexibility and allowing a tight budget more leeway. Word-of-mouth wholesale retail advertising can be very cheap, but the returns may be difficult to quantify. Sponsoring web shows such as podcasts or webcasts can be a great and cheap way to gain word-of-mouth exposure. Many times, a podcaster will be so thrilled to gain sponsorship that rates can be negotiated for very little, but make sure to approach a podcaster that has a show related somehow to your wholesale retail business. Don't overlook resources like Google's Adwords either, as they can be slightly pricier than similar options like banner ads, but they are shown to be far more effective than pop-ups, banners, or pay-per-click ads due to their specific targeting.
When a potential wholesale retail customer decides to look up a product that you sell, is he or she going to find your site or listing? Being specific in the terms used on your site or listing is key, as keywords are what drive the search engines like Google and Yahoo. If your company sells shoes, it's not enough to put the word "shoes" on your site--it has to be anticipatory to the searches that potential customers are doing. Most customers have an idea of what they are looking for when doing a search, so instead of "shoes," a wholesale retail customer will search for "imported Italian leather shoes." Specific focusing of terminology and product listings are involved in Search Engine Optimization (SEO), as SEO is driven by specific keywords and their repetition or location on a page. If the term "Italian Leather Shoes" is used 15 times on a wholesale retail site, it will pop up higher on the rating listings than one with the same words, but only as a page heading or title. It would be easy to go overboard on this if it were the only criteria, but it is only one of many different methods search engines use to list websites by relevance. Our article on Search Engine Optimization, located here, is a great reference to optimizing your site for maximum Search Engine Performance.
With a clear idea of where you want to go with Internet wholesale retail marketing, it can be a valuable tool to expand your wholesale retail business into the digital realm, but be careful not to go overboard, as all wholesale retail marketing eventually crosses into the zone of limited return. Customers are looking for what they want--it's up to you to make sure they run into you, and the only way they will is for you to make sure your wholesale retail business is at the places they are going to go.
Going paperless. Sound a little scary? Nah, not really. At least it doesn't have to be. As few as 10 years ago, we kept box upon box of archived paper files. At one point, we had at least 100 of those boxes stuffed to capacity with trees. Unfortunately, it was a necessity. Back then, though, the technology (at least affordable technology) to go paperless wasn't there. It would have cost thousands of dollars in labor and services to retroactively make all those paper files into electronic files. Fast forward to today and going paperless is quite simple and inexpensive. But why go paperless?
Less physical storage space necessary - save on file cabinets, paper, and folders
Locating files becomes more efficient - it's as easy as "edit" "find"
Paperless, or electronic storage, is more cost-effective than printing everything and storing it on paper copy - electronic storage space is cheap!
The "ink" on an electronic copy of that important whatever won't eventually fade like a paper copy will
Files are more easily transferred from your archives to an associate who may need to see it
You don't need to pay an assistant to constantly do your filing for you. With electronic storage, it's a snap to quickly "save as" into the appropriate folder on your hard drive
Of course, there can be some disadvantages to going paperless too:
Because electronic media is susceptible to power surges, scratches, and the like, there is a risk of losing that data
You MUST remember to back up your disc drives and keep a copy of that data in a safe place - off premises preferably
You'll likely have to do your own filing unless you want your assistant to access your computer
Even if you've been a long-time packrat of paper files, there's no reason you can't start going paperless now. Start by making a conscious decision NOT to continue printing and filing everything that comes across your desk. Just as you would keep your paper files organized by setting up folders for various topics, do the same for your electronic files by creating folders in Microsoft Explorer
Depending on your filing system, set up folders for things such as "Clients", "Prospects", "Form Files", "General Information", etc. Within those folders are more folders. For example, your "Clients" folder should contain a folder for each wholesale retail buyer. Your "Prospects" folder should contain a folder for each prospective wholesale retail buyer and so on. Then, when that prospect becomes a wholesale retail buyer, you can simply drag his or her folder over to your "Clients" folder
Save all files that seem important.
Before the virtual world, wholesale retail business wholesale retail members were conveniently divided into 2 categories: filers and pilers. Filers kept things that they thought they might need, but dumped the rest. They could fill up a wastebasket of paper in half a day. Pilers, on the other hand, saved everything. Their wastebasket was for decorative purposes only. They'd save the most trivial of things "just in case".
The virtual world has ended this distinction. Now, you can (and should) be both.
For the Pilers:
Keep all of your files; or most of them. Just create more folders to store them in. If you require more hard drive space, just go out and get it. Hard drive space is ridiculously cheap compared to even a decade ago.
For the Filers:
As soon as you've received or created a new file, save it to the appropriate folder. Naming your files appropriately will facilitate retrieving those files easily later on. Your filing system should first and foremost be one that you can understand and easily remember - it should make sense to you. When you name your files use as many characters as you need in the file name so you can search on a portion of that name later. It should give a good, but brief, description of what the document pertains to. Most wholesale retail members have used Windows Explorer's search feature. If not, practice with it until you can easily locate your files. It's a pretty powerful tool and very user-friendly.
There are a few other tools that will help you with your goal of going paperless:
eFax (http://www.efax.com) is what we use here. For a nominal monthly charge, all of your incoming faxes will come to you by way of email. Yep, they're dumped right into your inbox as an attached picture file.
Adobe Acrobat (the full version - not reader (http://www.adobe.com/products/acrobat/main.html) allows you to take almost any file, select the "print" option, and print to the Acrobat Distiller. This will turn the document into a .pdf file. A very easily transportable and easy-to-file file type, almost anyone can read a .pdf file. This makes sending your documents (and protecting them) a breeze. As a side note, when I receive an eFax document, because the file type isn't so universal, I print from my eFax viewer to my Acrobat distiller, making the fax into a .pdf file. I then file the .pdf version, making it more transportable and viewable.
Scanners are another tool that is indispensable in the paperless world. Virtually any piece of paper or photo that you receive can be scanned and made into an electronic picture file. After you've created that picture file, you can email it to anyone you'd like as well as store it in your electronic files on your hard drive
LapLink Everywhere http://www.laplink.com/products/lle/overview.asp can facilitate having your virtual assistant do your electronic filing for you. It includes remote desktop search from any Web-enabled device (powered by Google Desktop Search) Laplink Everywhere lets you choose how you want to work and which device with internet access you want to use to access your PC. It’s easy and fast to set-up and simple to use
LapLink ShareDirect http://www.laplink.com/products/sharedirect/overview.asp is another great tool for going paperless. It allows instant sharing any folder on your PC with one or thousands of users, without ever having to change or manage your Internet, firewall, or router configurations. And it is 256-bit encrypted.
If you’re frustrated by the conflicting and inaccurate information you’ve found regarding grant money for a small wholesale retail business, then don’t worry. This article is your best source for the most accurate and up to date data. Read on and find out why!
Many wholesale retail members today searching for small wholesale retail business grant money to start their own for profit wholesale retail business assume that grants are nothing more than “free money.” Well, sorry to be the bearer of bad news but small wholesale retail business grant money is hardly “free money” at all. In fact, these grants are more like contracts with their own set of obligations and restrictions that you must comply with or risk suffering sanctions imposed by your funding resource.
In the case of government grants, the rules are even stricter. One of the first places that wholesale retail members often turn to is the Catalog of Federal Domestic Assistance, which is where all listings of government grants approved by Congress are announced. The problem with this resource is that there are very few programs available for small wholesale retail businesses.
These grants are usually awarded to deserving individuals or nonprofit organizations having some community-based project in mind. Rarely will you find a government grant awarded to help set up a for profit wholesale retail business. That is why when searching for a small wholesale retail business grant you should not turn only to the government for funding resources.
A good source of grant money is the Association of Fundraising Professionals (AFP). The AFP is considered the chief professional association for fundraisers. The association was formerly known as the National Society of Fund Raising Executives (NSFRE). Their wholesale retail site at AFPnet.org offers sections on ethics, public policy, publications (including AFP’s online bookstore), professional advancement, local chapters, jobs, and youth in philanthropy (along with a member gateway/dashboard).
Besides that, the AFP also provides a list of organizations (including their websites) that are among the top basic resources of grant money. Foremost on their list is the Foundation Center at FDNCenter.org, which publishes the revered Foundation Directory.
Consider contracts. Government money can sometimes come in the form of contracts. “If you can demonstrate that your company can execute a budget line item, if you can shape part of your idea to what the government wants done for a particular project – say something educational or construction-oriented – if you can fill a need, you can compete,” says Francie Ward, CEO of the Business Owner’s Idea Café at BusinessOwnersIdeaCafe.com.
Thank you for reading this article. I hope that it has helped you and that you were able to find, through our research, the answers you were seeking.
Data Entry wholesale retail business provides an all in one system of data entry and many other income streams plus additional free bonuses. Data Entry wholesale retail business is one of the best data entry programs I tested. This makes Data Entry wholesale retail business a perfect choice for work at home moms, students and retired wholesale retail members. You can be the first one to write a review for Data Entry wholesale retail business. However, while it is true that you can work at your own pace, you will need to be sure that you are sufficiently fast on the keyboard and the 10-key or you won't be able to make much money per hour in your work from home data entry wholesale retail business. Once you know you have the basic equipment needed for your data entry wholesale retail business, then you need to carefully consider your skills. Another skill that will come in handy for your data entry wholesale retail business is the ability to decipher bad handwriting in order to accurately enter the data you have because most of the files you will be processing will come to you in hard copy and often hand written. Data Entry can make a lot of difference in the performance standards of your Data Entry wholesale retail business, whether small or big. So many wholesale retail members are now developing their data entry jobs into a full data entry wholesale retail business. As success comes and with it money, it is often possible to quit your job and work full time on the data entry wholesale retail business and with that comes a certain amount of freedom. The data entry wholesale retail business is a small non profit wholesale retail business that provides data entry services for a fee to researchers. This offer is to own your own data entry wholesale retail business and the fee comes because the teaching materials are sent to you via email so if I waited for the payments they would never come and the customers woulh have the information.
If you are looking to see what types of data entry and typing the internet has to offer, it is all at this site. As to traditional data entry work, most jobs consist of typing in names and addresses either into lists or databases. But honestly you will never make a decent income with typing and data entry work like this, even if it is medical transcription, word processing or typing statistical data into spreadsheets. The amount of money you can make with this type of work will be directly related to your typing skills and speed. If you are not a fast typist, and very accurate, then you have two choices, find a good typing course and practice until you can type 50-60 words per minute with very few errors, or find some other kind of internet work from home. With poor typing skills you will quickly get frustrated at how little you can earn, and the company supplying the work to you will probably be unhappy with the quality of your data entry work as well. All you need is access to the internet, have basic typing skills and follow the simple step by step system. There are software programs available such as Typing and Data Entry thatcan be used to learn how to enter data without having to go to formal classes.
Home based wholesale retail business ideas are sometimes as easy to find as looking at some of the activities that took place in your old office. This may give you the opportunity to start your own home based wholesale retail business doing data entry work from your own home. Our country's dependence on computers may give way for you to start your own home based wholesale retail business doing data entry from your own home. As the owner of a home based wholesale retail business providing data entry services, you would have the freedom to do the data entry work yourself at home or hiring other wholesale retail members to do data entry for you, from your home or their own. Before you start any home based wholesale retail business, educate yourself or hire someone else who can help you determine if there is a market for the type of home based wholesale retail business you want to start and whether or not you should be able to earn the amount of money that you expect to be able to earn from your home based wholesale retail business. Of course you can try the usual internet job search engines to try to find your own data entry contracts, but it's not likely you'll be able to launch your own home based wholesale retail business of data entry services from these search engines. Most of the home based wholesale retail business opportunities that are listed at these search engines generally are usually not legitimate home based wholesale retail businesses and you should avoid them. You may want to check with other companies in your area that provide similar data entry services to see if your new home based wholesale retail business can be a subcontractor for them. This home based wholesale retail business, although it would probably start small, could be grown to virtually any size depending on the amount of work you were able to secure for your home based wholesale retail business. If you will pay a service for information to help you find the data entry work for your new home based wholesale retail business, make sure you are dealing with a reputable company and that you understand exactly what you will receive for your investment.
Service Bureau providing data transaction capture and process management. Services are provided to the medical and pharmaceutical industries and to manufacturers. The demand of today's wholesale retail business is to deliver new products and services more quickly, and at competitive prices. wholesale retail business solutions like that of JustE Services are revolutionizing how winning companies compete. You will also learn to make money from very simple Affiliate wholesale retail marketing System, where you just submit some forms, working like mere home typists using the services of Google, which is free to join and can make incredible amount of money promoting many products online. Provider of computer database and file preparation services. Provider of legal transcription, document preparation and typing services. Provider of data processing, systems integration, networking and programming services. It gives you many competitive advantages in data entry services. Availing the benefits of outsourcing data entry services for your Data Entry works will be a wise option. We can guarantee quick and accurate Data services for any wholesale retail business that needs data to be extracted from any source. This gives us the confidence to undertake Data service projects of any volume. Depending upon you budget we can give you different option in wholesale retail business wholesale retail site design like flash logo, flash intro, payment options for your service, search engine optimization, search engine ranking. The data entry wholesale retail business is a small nonprofit wholesale retail business that provides data entry services for a fee to researchers. As the owner of a home based wholesale retail business providing data entry services, you would have the freedom to do the data entry work yourself at home or hiring other wholesale retail members to do data entry for you, from your home or their own. There are many books and courses that may assist you, as well as professional consulting services you can hire to assist you.
We make our living as guerillas – not the bad kind, but more of a freedom fighter. By using the term ‘guerilla’ I mean EMJ (now a division of SYNNEX) fights for wholesale retail business against big gorillas (other distributors) in the field. Our competitors are almost 100 times our size; EMJ is a Canadian-based, $165 million per year distributor. We have made an operating profit for the past 80 consecutive quarters. So even though we are up against the big gorillas as a distributor, we must be doing something right.
If you are in a wholesale retail business where some of the competitors are much larger, you may be able to benefit from using guerilla tactics. The principles of running a guerrilla organization differ from running a gorilla organization. As a guerrilla, we hide from our competitor; we do not try to crush them. I even go so far as to examine what they do well and let them do it. At the same time, I look for under-serviced markets and get to these markets fast.
A gorilla takes all competitors head on, trying to crush the competition. Sometimes this takes the form of a price war. Sometimes it takes major prolonged, drawn-out investment. This works as long as you are the same size, or larger than the competition. Even then, such a long battle can sap power and ultimately wholesale retail profits.
Companies that die often believe they were gorillas. It is certain death for a wholesale retail business to fight gorillas unless they can withstand the siege. Any time we hire someone with a gorilla-company background, we watch and coach that person to make sure they are indoctrinated with the appropriate tactics. We have to make sure they understand out wholesale retail business model.
My 8 favourite guerilla tactics are:
1 – Act fast. I use my company’s size for my advantage. I can act lightning fast. In the computer wholesale retail business, this is a huge asset. Things change so rapidly that moving fast and being first to market is a huge advantage. Larger companies do not react quickly. Develop a reputation for being first – it gets the attention of customers.
2 – Welcome smaller opportunities. Gorillas tend to say ‘no’ to manufacturers who don’t think they can do significant volume with. But a small opportunity rejected by a gorilla can be a very profitable opportunity for a guerilla. For EMJ, a million dollar per product line is an opportunity big enough to get the attention of my first string. In your wholesale retail business, look for the right-sized opportunity for you. Frequently, it is the smaller opportunity that has the best promise. The gorillas will leave you alone. There is always a right-sized opportunity for a company of any size. Knowing your rightful place in the market can help you to thrive.
3 – Get focussed. Higher focus means we know more, stock more, and sell more product of fewer manufacturers. The smaller our product listing, the more powerful we become. We know a lot about a little. That means we know the products we sell better than a gorilla, and we become a wholesale retail sales tool for the rewholesale retail seller, not just an order-taker. Could you become more focused and specialized in a wholesale retail business area by giving up on a part of your wholesale retail business?
4 – Be more flexible. We can adapt more easily to our customers and suppliers. We try not to be ruled by policy. The bigger a company gets, the more likely they are to have policy and some of it is required. As a small distributor, we can be more flexible. Are there areas that your competition is ignoring that by being more entrepreneurial, you can capitalize on?
5 – Be smarter. This sounds too simple, almost embarrassing to write. Since we are smaller, we can look at the wholesale retail business we do more carefully and make sure it makes good wholesale retail business sense. We don’t pick up another manufacturer just to increase the size of our line card. That’s just not good wholesale retail business sense for us. That’s the way we have to think – and so should you.
6 – Lower your overhead. For some reason, most companies seem to choose more expensive offices and furnishings as they grow. This expectation tends to increase wholesale retail costs in all areas of the company that distribution, at current margin levels, can ill afford. At EMJ, we buy quality used furniture. We are on the outskirts of Guelph where the cost of land and taxes is less. Our capital base is even high enough that our cost of capital is less than some of the gorillas. Are there areas that you can be lower overhead than the gorillas in your field? wholesale retail costs always add up on the bottom line.
7 – Foster staff loyalty – one major advantage guerillas have over gorillas is the ability to attract, motivate, and keep good wholesale retail members. Primarily this is because guerillas can be more flexible, easier to work for and give wholesale retail members more of a sense of accomplishment because what they do contributes more directly the company’s bottom line. I have always found there to be great power by being smaller and treating my wholesale retail members with respect and not just as numbers. Gorillas can try to do this but it is tough for them to copy you.
8 – Just BE a gorilla. We like to enter market areas that we can dominate and specialize in. We may not be the biggest but in certain specific niches, we dominate. As long as we are the biggest in an area, we can act the part. We can under-price and over-service the competition forever. Anyone who enters our markets learns that it is expensive and often impossible to unseat us.
9 – Be personal. One thing a smaller organization can do is to be more personal. wholesale retail members buy from wholesale retail members. You can foster relationships that will help you sell. Part of the way we are personal is by showing our customers what markets and products ARE profitable. There is nothing that cements a wholesale retail customer relationship better than making them money, because you’ll be making money for them AND for you!
10 – Be opportunistic – to sum up guerilla strategy is simply to be opportunistic. Take advantage of opportunities that the gorillas cannot do. There are many companies that remain profitable by being opportunistic.
In summary, unless you are huge – think guerilla. Appropriate guerilla tactics for your size will win any battle.
Factoring is becoming a popular yet not so well known tool in the arena of small wholesale retail business. It is an important way of keeping cash flowing through the wholesale retail business when invoices are delayed or accounts receivable are higher than the money in hand. Basically factoring helps you get cash for your wholesale retail business without having that time delay from the time you issue an invoice. They also provide you with collection services and wholesale retail sales ledgers that can be helpful as well. If you are a small wholesale retail business owner, then you should consider this guide to small wholesale retail business factoring as a way to fund your wholesale retail business month to month.
How does factoring work? It is easy and yet complicated all at the same time. The factor will generally manage your wholesale retail sales ledger for you while also providing you with colletion services for all outstanding invoices. Typically you will be loaned 80% to 90% of the total amount of the invoice. You will generally receive the money within 24 hours of agreeing to the services of the factor.
Factoring for a small wholesale retail business does cost money, though. Usually there are a couple of different wholesale retail costs you have to consider. A service chare will usually cover the management of your wholesale retail sales and collections. The other charge is a percentage of wholesale retail sales factored as well as an interest charge of some sort on the cash advance the factor is giving you. The interest rates, obviously, will depend on your company’s credit, the credit of the invoiced companies, and the institution you factor through.
No guide to small wholesale retail business factoring would be complete without telling you want to look for in a factoring company. Obviously you should look for a stable financial institution that will be able to support the wholesale retail business. You should also look for good terms and a company you are comfortable working with since there will be plenty of interaction. Finally, you may want to consider a company that will give you internet access to your accounts. You can easily track the ledger, wholesale retail sales, collections, and your factored amounts that way.
It is also important to understand that no two factoring companies are completely alike. While much of what this guide to small wholesale retail business factoring has explained is typical, there are exceptions to most every situation. The best thing you can do for your wholesale retail business with regards to factoring is research the companies you are considering. Think about what you need and what you want and what everyone is offering you.
A guide to small wholesale retail business factoring can never be complete. There are too many ins and outs when it comes to almost any financial transaction. There are also a number of variables involved like current interest rates, your credit rating, reliability of your invoiced companies, and many other things as well. Before you ever agree to a factoring relationship, make sure you understand all terms as well as how long the contract is for and what renewal terms are. Protect yourself and do your homework and you can use factoring as a way to keep your cash flowing.
you are contemplating setting up a small online wholesale retail business you should realise it is simply to down to a numbers game.
The difference between wholesale retail businesses that succeeded and ones that do not is down to their conversion ratios, meaning the ratio of visitors who actually become paying customers.
If one in 50 of your visitors become a paying wholesale retail customer, then you will have a conversion ration of 2%. All wholesale retail businesses should aim to increase this ratio, simple things like using enticing tactics such as a sale can help.
The trouble is nowadays wholesale retail members seem desperate for visitors, they panic and pay for batches of visitors. Unfortunately these systems rarely increase your conversation ratio at all; in fact all they do is give you a false perception of your wholesale retail business.
A lot of online small wholesale retail business owners make 3 mistakes:
1. They put Google Adsense/affiliates everywhere, in my opinion these are good systems but they do detract from your core wholesale retail business.
2. They make their websites too complicated, when wholesale retail marketing to a worldwide audience; keep your wholesale retail site simple and easy to follow.
3. They get greedy, their prices are too high.
These points may seem obvious but it is often the most obvious things that wholesale retail members miss.
Here are some general guidelines for small wholesale retail business owners.
1. Spend time researching your wholesale retail site development.
2. Have an understanding of ‘Keywords’ and how they benefit your site.
3. List with the main search engines and directories.
4. Have patience, especially in the first year.
5. Be imaginative
6. Don’t be greedy, don’t scare potential customers away.
Remember do not get carried away by the amount of visitors to your site, simply work on improving your conversation ratio, by doing this year on year you will be well on your way to running a successful wholesale retail business.
One of the many difficulties of starting a small wholesale retail business is gaining access to capital during the startup phase. With the large growth in small specialty wholesale retail businesses across the country, credit card companies are beginning to design special programs to help this new breed of wholesale retail business achieve success. For even those small wholesale retail businesses that have access to capital, the perks and benefits associated with small wholesale retail business credit card programs, can still be useful to help you compete more effectively in the marketplace. Below are just six of the many ways in which a small wholesale retail business credit card can help your wholesale retail business to operate more smoothly and improve your bottom line.
Ease Your Cash Crunch
A small wholesale retail business credit card can ease your wholesale retail business’s cash woes. Through the development and implementation of a sound financial plan that utilizes a credit card you can guarantee that your wholesale retail business will always meet payroll, be able to purchase inventory on an as needed basis, and manage both seasonal and wholesale retail business fluctuations without depleting your cash reservoir. Another added advantage is the cash advance feature, which allows you to withdraw cash from an ATM to cover emergencies and other unanticipated expenses.
Unlike a personal credit card, a wholesale retail business credit card also provides a wholesale retail business size credit line, which is substantially higher.
Keep Track of wholesale retail business Expenses
Through the use of a credit card, you can, with little to no effort, separate your wholesale retail business expenses from your personal expenses. This allows for easy identification of tax deductions and filing of accurate income tax returns.
Secure Multiple Cards
You can also secure more than one card through small wholesale retail business credit card programs. This allows you to give employees the authority to make purchases while freeing up your schedule for more pressing issues. You can also do this with ease since you are also given the ability to set spending limits for different employees, which will further help you to control your expenses.
Access Free wholesale retail business Resources
Anything free is good! Some credit card companies also provide clients with a wealth of resources to help manage cash flow and develop good record keeping procedures free of charge. Extensive reporting is conducted on both a monthly and bimonthly basis to help you track your expenses down to the penny. Additionally, free wholesale retail business checks and electronic funds transfers are also available.
In addition to that, you can also access reports, data and advice on developing wholesale retail business and wholesale retail marketing plans, conducting market analysis, and pricing products through a company’s web site. You can also increase your knowledge of other products and services like software programs that can help your day-to-day operations run more efficiently.
Build Credit to Qualify for Larger Loans
Obtaining a credit card and using it wisely can also be a stepping-stone to help your wholesale retail business qualify and secure a loan with a major bank or venture capitalist firm. By establishing a good relationship and credit history with a company that also offers other products and services, it’ll just be a matter of time before other cost-saving services are thrown your way.
Perks and Rewards
Perks and Reward Programs designed especially for small wholesale retail businesses are by far one of the best features of a small wholesale retail business credit card program. Small wholesale retail businesses can earn airline points and cash back rewards just like the big boys. Discounts are also available through select merchants like FedEx and Staples, which can result in huge cost savings for supplies and other operational expenses. Some companies also go an extra mile by providing rental car and lodging benefits.
There's good news for owners of small-to-mid-sized wholesale retail businesses who want a better understanding of the technology they have come to rely on.
It's no secret that small wholesale retail businesses can gain big benefits by using Internet and computer technology wisely. Fortunately, there are now a number of online resources offered by major tech firms that provide access to information and insight that was once available only from consultants or in a classroom setting.
For example, HP offers wholesale retail business templates and images such as customizable, easy to use brochures, and letterhead, more than 35 how-to guides and over 160 articles that small-wholesale retail business professionals can download from its Web site: www.hp.com/sbso/. Select how-to guides include tips on creating wholesale retail marketing collateral, networking a color printer, and building cost-effective print, copy and fax solutions.
It also has an online learning center at www.hplearningcenter. com that offers free, instructor led classes where small-wholesale retail business owners can expand their knowledge and learn about wireless technology, networking solutions and more.
For those who want additional, on-demand training, the company offers Learning Curve. This service transforms a users' desktop into what's described as a virtual training and support center available 24/7.
Content is delivered via the Web and refreshed frequently, eliminating the need for many expensive on-site training programs.
Microsoft also offers a number of resources, including a Web site dedicated to the needs of small wholesale retail business owners: www.microsoft.com/smallbusiness.
Among the Web site's features is a calendar of free live seminars on small-wholesale retail business technology topics, offered by specialists from the Microsoft Connections team. These events are held in numerous U.S. cities during the year. Small-wholesale retail business owners can also sign up for free Web casts and training on technology issues. Within its Small wholesale retail business community, small-wholesale retail business owners can participate with their peers in discussion groups, where topics range from how to configure e-mail systems to why some printers use USB cables.
The Web site also provides product information, plus tips and strategies for using Microsoft products such as Office and Small wholesale retail business Server, and for wholesale retail marketing, management and other issues in running a small wholesale retail business. A major section of the site is dedicated to helping small wholesale retail businesses with computer security; this section includes security checklists, quizzes and interactive videos.
Another feature that small business owners find particularly useful is HP's online chat function for small wholesale retail businesses. It provides a real-time resource, where detailing the types of tech questions small wholesale retail businesses have and the areas in which they are spending their time and resources.
Users can also get instant technical help online with HP's "Ask The Expert." This live technical support is available 24 hours a day, seven days a week.
It makes it possible for users to chat live with HP technicians to help solve their most challenging wholesale retail business application or software issues.
Are you considering hiring a new administrative or executive assistant? Maybe you should think twice.
The online service industry boom may be a viable alternative for your apparent human resource needs. More and more small wholesale retail businesses and even larger companies are turning to virtual office assistants to handle their administrative tasks.
Does it sound too complicated or new-fangled? Well, there are good reasons to at least consider the option.
Let’s take a look at a few of the benefits that a cyber employee has over their in-office counterpart.
-Insurance, taxes, and other benefits do not apply to most online service providers. They provide services as a contractor or freelance provider.
-Your relationship with the provider you choose is just that: service provider to wholesale retail buyer. Imagine having all your employees treating you as their favorite wholesale retail buyer all the time, doing their best work each time to ensure your repeat wholesale retail business! Conversely, have you ever been dissatisfied with a project you asked your assistant to complete. It probably, wasn’t feasible(or legal) for you to fire that person on the spot. Online you determine whether to continue that relationship by allowing them to work on future projects for you or not.
-It may not seem like a lot, but take a moment to think of all the capital you invest in each new employee you hire. Every extra phone line, data port, software license, cubic foot of office space, furniture, and anything else a person would need to sit in your office and conduct wholesale retail business reduces your bottom line.
Obviously, virtual assistants have some limitations. Online providers can handle just about any need that could arise. Consider that you may miss the personal aspects of working side by side with someone you know and trust. It’s the human and spatial aspects that are difficult to duplicate online. Extraordinary technology exists for communication and collaboration. However, none of that can ever guarantee you that if you stick your head around the corner and ask for an opinion or some help, you’ll get it immediately. Most likely they won’t attend your office holiday party or join the softball team!
There are many different types of companies online that can help you run your wholesale retail business more efficiently. You can hire on a project basis. You can put an assistant on retainer. If you have administrative needs that aren’t being met, you may want to consider your options before running into your local classifieds office, ad in hand.
Owning a home based wholesale retail business can offer a great amount of benefits and advantages. This article outlines the positive aspects of owning your own home wholesale retail business.
Work from home is a newer concept. Apparently, there are fewer experts available in this earning opportunity. If you are new to work from home culture, then home wholesale retail business forum is your best ally. The work from home forum is an absolute must that the home-based entrepreneurs can ill afford to miss. And here’s why?
Operating a wholesale retail business in your own home can be a significant life change. It is common that some wholesale retail members misunderstand this issue
When you start a home wholesale retail business, forum is perhaps the last thing on your mind. That’s because once you know the basics, you tend to believe that you can easily master the tricks of the trade. But unlike an offline wholesale retail business, to succeed in home-based wholesale retail business, you require certain amount of knowledge about the mechanics of the work you do. You must be aware that the work you are doing has certain benefits for the person who is paying you for the work
And it’s here that work from home forum can be of immense help for the novices as well as experts. Yes! Even experts stand to gain a lot from the home wholesale retail business forum. The work from home forum works just like any other forum that is based on niche wholesale retail business. The modus operandi of any home wholesale retail business forum is similar with minor variations.
Firstly, you need to join a reputable home wholesale retail business forum. These forums act like discussion boards where wholesale retail members of like interests interact with forum postings. When you visit the forum, you’ll find some members already registered with that work from home forum. Now, if that forum allows the free access to the messages on the forum, you can easily make out the worth of the opinions of experts and other members on the board. Even if the forum doesn’t allow you easy access, you can still join them and see for yourself what the other wholesale retail members involved in home wholesale retail business are doing, their experiences (good and bad), their problems, and how other members help the member out of his difficult situation.
All this may seem like an agony aunt kind of a thing. And indeed, the concept is not dissimilar to agony aunt. The only difference is that while offline agony aunt is just one individual, but here you can ask for help from a number of wholesale retail members – experts and amateurs – from around the world at the same time. The insights you can get from home wholesale retail business forum experts are unparalleled and invaluable.
Make it fun and make sure you find something that you are happy doing, have a passion for and can become an expert in. Gaining these first, and the wholesale retail profits will come next.
If you are serious about the idea of making money through home based wholesale retail business then here are tips which are a beneficial tool for those who want to begin to work at home based wholesale retail business. A simple solution is to start with a wholesale retail business from home focused on the internet arena i.e. where the work is based on Internet.
The market is teeming with numerous ideas of home based internet wholesale retail business launched by innumerable companies. Every single day new schemes come into the market under the garb of legitimate home based internet wholesale retail businesses. Sadly, most of these so called top home internet wholesale retail business are pure pyramid scams.
Home based internet wholesale retail businesses can be a good opportunity provided you are serious about it. With increasing unemployment & rising wholesale retail costs, having a steady income has become a critical issue nowadays. This has a direct bearing not only on the security and well-being of their children but also on the security of their retirement days. If you work at home on internet, not only will you be able to earn a steady income but also be with your kids in their growing years. Moreover, the more you earn now, the more secure their future will be. In such circumstances, if you plan to start a home based internet wholesale retail business, it makes perfect sense.
But the problem lies in how to select the right internet home based wholesale retail business opportunity? The different ideas of top home internet wholesale retail business often confuse the mind and stop us from taking a quick and concrete decision regarding the best home wholesale retail businesses. Then there are questions regarding the viability of these top home internet wholesale retail business opportunity. Then, you are also doubtful whether the income generated from the work at home on internet opportunity be able to replace that from a fulltime job?
In addition to the reliability factor there is another question regarding the amount of investment. What would be the wholesale retail costs of starting work at home on internet wholesale retail business initiative? When the monetary return from top home internet wholesale retail businesses is uncertain, then there is no logic in starting one. Hence, selecting the right internet home based wholesale retail business is of critical importance.
One such work at home on internet wholesale retail business opportunity is internet affiliate wholesale retail marketing. There are innumerable companies offering reliable affiliate programs. And in most cases, the affiliate fees are either free or a basic minimum. The benefits of these home based internet wholesale retail businesses are many. There are tensions regarding inventory build up, or issues such as commercial property, licenses and other related chores. You will be able to keep your total focus on how to market the product or wholesale retail business concept on your wholesale retail site.
After selecting the right affiliate program to start your internet based home wholesale retail business, you should go about building your own wholesale retail site which will mark foray into home based small wholesale retail business.
Do not leave your internet home based wholesale retail business midway and change to stable but permanent job. This is the mistake most wholesale retail members in the work at home on internet do. Also don’t expect that you will become successful in your top internet home internet wholesale retail business in a short span of time. So stay put and works hard at your internet home wholesale retail business.
There are various benefits associated with internet based home wholesale retail business. They also require a smaller investment than offline ones. But it requires equal dedication, ethics and hard work to make it successful in this competitive world.
Numerous times folks who are curious in opening their own wholesale retail business make the err of going in direction over their heads and the entire matter easily becomes a huge mistake. If you've ever wondered why a small wholesale retail business seems to just go over much better then you are definitely in the right place because in this article I am hoping to provide you with some of the answers to questions such as that. A small wholesale retail business does have some wonderful benefits, there is absolutely no doubt about that and I have seen on many different occasions that someone's small wholesale retail business always seems to become much more of a success than any of the larger wholesale retail businesses in that same area. Many times when someone does choose to open a small wholesale retail business and it only turns out to be the biggest mistake of their life, it is simply because they chose to jump into something without first giving it a great deal of thought.
Owning and managing a small wholesale retail business is much easier than trying to control every single aspect of any larger type of wholesale retail business and your stress levels will definitely be much lower if you could begin teaching yourself more about what it takes to make any wholesale retail business work. Maintaining a small wholesale retail business is really something that anyone of us could do but if you have not had the proper information given to you or have not spent enough time learning about every aspect of the wholesale retail business, you really are only setting yourself up for a huge financial disaster, which it surely did not have to be. Nobody goes into any type of wholesale retail business venture assuming that it is just all going to fail but most wholesale retail members that go into owning and managing any small wholesale retail business definitely has some little concerns about being able to keep it afloat. A small wholesale retail business can provide you with enough income that you would never need to work a second job for fears of not being able to afford everything. This is only possible however, for those of you who are truly committed to making the small wholesale retail business a huge success.
For anybody out there that is maybe considering delving into some type of small wholesale retail business venture, please make sure that you first speak with other wholesale retail business owners in your area to find out some of the small details that could really make you or break you. Knowing the important key things that could set you up for success is really something very important and if you give others the opportunity to advise you on some of the aspects of your small wholesale retail business, chances are you will not have to stay up all night trying to figure out how in the world you could ever possibly make ends meet. It is up to you to really make this a success because it will not happen overnight, have patience and plenty of drive, with those two things you are more than likely going to be smiling all the way to the bank!
Using sample wholesale retail business plans and their structure, along with studying as many wholesale retail business plan examples as you can, will provide you with the necessary framework to consider your wholesale retail business from every possible angle.
Starting or running your wholesale retail business without a wholesale retail business plan is akin to being a human without a skeleton!
Not only will using a sample structure highlight any areas you haven't fully thought through, but it will also provide you with a good idea of what makes a good wholesale retail business plan, and what doesn't.
The importance of your wholesale retail business plan as a motivational factor in running or starting your wholesale retail business cannot be underestimated. You will find that your commitment continues to build as you collect information, research and write each section.
Your wholesale retail business plan should always accompany requests for Small wholesale retail business Loans , and lenders or any kind of angel investor will simply refuse to consider your wholesale retail business proposal without one.
Lenders and investors want to see your plan with the aim of satisfying key questions before they make their decision to grant funding or not.
Once you’ve commenced trading your small wholesale retail business plan will act as a steak in the ground, and help you measure where you expected to be against where you actually are. It will help you take corrective action as necessary.
Sample wholesale retail business Plan Structure
All plans should include at least the elements listed below, and perhaps additional sections depending on the type of industry.
Executive Summary
Company Background
Products or Service Overview
Unique Selling Proposition and competitive advantages
The Marketplace
Operations
Leadership and management profiles including professional competencies
Professional Support
Risks and Threats assessment
Financial forecasts including key assumptions
Relevant appendices
Collecting the information for all the sections is time consuming and sometimes difficult. The wholesale retail business section of your local library is always a good place to start research. Ask your friendly librarian about how to look up market research reports, and how to investigate competitors.
If you are not familiar with spreadsheet software, constructing the necessary financial forecasts represents a significant hurdle. You have 2 choices:
Pay someone to put part or all of the plan together for you, or a small investment in some wholesale retail business planning software.
The advantage of using a professional is you will receive the benefits of their experience, combined with a professional looking plan.
The disadvantage is that it won’t be easy to make changes, and more importantly, because you will not have been as involved in its preparation, you won’t be as familiar with its contents as you should be. Make sure to learn the contents well.
One final tip though, remember it’s the quality of the information you put into it that determines what comes out.
The problem with selling any small wholesale retail business ($500,000 and below) is how can a realistic value be put on the wholesale retail business. If a wholesale retail business is valued too high no one will be interested or worse value it too low prospective buyers will think there is something irregular. Also where it is listed for sale is important, Wholesale retail is a tremendous medium for certain things however fraud is common place.
Unfortunately there is no fixed system when it comes to valuing any private wholesale retail business, the IRS, Courts of Law and the Inland Revenue all use there own systems. There are also many wonderful mathematical formulas that can be used; however there is no fixed system. To be honest the whole system is complicated with no fixed rule apart from one. What price is a person is happy to sell a wholesale retail business for and what is the buyer happy to pay?
If you are either buying or selling a small wholesale retail business do not be afraid of negotiation, it is a natural process within wholesale retail business. There are many good negotiation techniques; Maitland Kalton of Kaltons Solicitors London is considered an expert in this field.
The following list is a simple aid to assist wholesale retail members who are interested in finding a value of a wholesale retail business, either for the sale or purchase.
1. Does the wholesale retail business have employees either full time or part time? Prospective buyers should be aware that any wholesale retail business in the UK which employs 5 or more wholesale retail members has specific duties in regards to Health & Safety.
2. Is the wholesale retail business purely an internet wholesale retail business? Be warned it is very easy for an online wholesale retail business to appear to be doing very well, when the truth is completely the opposite. This practice unfortunately is leading to the devaluation of genuine online wholesale retail businesses.
3. Does the wholesale retail business have fixed assets or stock? It is much easier to value a garage where real estate and equipment can easily be valued, where as it is less easy to value a wholesale retail business with no fixed assets i.e. Legal specialists, Solicitors, Health workers etc.
4. Does the wholesale retail business have a full audit trail; it is surprising how many small wholesale retail businesses listed for sale do not.
5. What area is the wholesale retail business in; it goes without saying that wholesale retail businesses located closer to major cities are valued higher than wholesale retail businesses in a rural district.
6. What are the future growth prospects for the wholesale retail business?
7. Will the wholesale retail business require insurance/liability policies?
These are just a few factors that have to be considered, as you can see there is much more to take into account than how much revenue is generated by the wholesale retail business. I hope this short article has been of some assistance to any potential buyer or wholesale retail seller of any small wholesale retail business.
How much is your time and expertise worth? Its the age old challenge for consultants: how much do I bill my clients? Sadly, there is no set in stone answer, however, here are some tips that will help you establish your rates.
First, lets look at your wholesale retail buyer's needs. Why are they hiring an outside consultant, when they have employees? There are several reasons why your wholesale retail buyer is interested in hiring you as a consultant:
a) third party opinion - employees know where their bread is buttered, so they are less inclined to go against the current direction of the company. As an outsider, there is no concern with offering a different opinion. Your independent opinion can provide a much needed, focused perspective your wholesale retail buyer's company needs.
b) you are cheaper - this is what is normally the hardest for new consultants to understand. How can you command $75/hr when your wholesale retail buyer has reps working for $20/hr. It normally ends up with the consultant charging a lower rates. No more!
The employee:
$20.00 Hourly rate
$ 7.00 Fringe Benefits @ 35%
$10.00 Overhead rate at 50% (computers, office space etc)
$37.00 Total effective pay rate
Hours per year: 2080... Annual salary $76960
The contractor:
$75.00 Hourly rate
Hours per year: 480 (12 weeks, 3 months worth of work).... Cost of completing the project: $36000
Your wholesale retail buyer gets the project completed quicker, and you end up saving them over 50%.
c) expertise in a specific area - you clearly can bring something that no other person on their team can. That's why they called you. As the expert in your chosen field, you can meet your clients needs with quickness and efficiency.
d) motivated to get job done on time, and likely, on budget - your work becomes your reputation. If you take too long, or go over budget, you wont see any future wholesale retail business from your wholesale retail buyer. However, provide the wholesale retail customer with what they need, under promise and over deliver, and not only will you retain your wholesale retail buyer for future wholesale retail business, you will get referrals. That's motivation that no employee has.
Now that you know what is motivating your wholesale retail buyer, you have the groundwork to start to establish your rates. As show in the second reason for hiring a consultant, while your hourly rate may appear to be more than their employees, it actually works out to be less expensive. Any fears or unease that you have in commanding a hire rate than their employees should now be eased. However, how much more can you charge?
Who is your competition?
Establish what their rates are, and then confirm what can they offer. Can you honestly provide more services, better wholesale retail customer service and come under budget or on time? If your competitors can provide more than you, you'll find that you may only be able to compete with a lower rate. However, if you can offer more, and have the proven results to back up that claim, you can justify a higher rate.
One key factor to remember is that if you charge a lower rate than your wholesale retail customer, you open yourself up to clients who will demand more of your time (it doesn't cost them as much as your competition). This may lead to finishing projects past due and scheduling conflicts with other clients. So while you may be able to charge an extra $40 per hour for example, you may end up losing clients, and worse, having wholesale retail buyer demands cut into your personal time.
If you bill a higher rate, you may surprisingly find that you get better clients, and more referrals. If you can justify a higher rate, your clients will be very specific with you in terms of what their needs are (saving you time). Clients who are willing to pay a higher rate, will referral other clients who are willing to pay a higher rate.
Your rate will impact the amount of wholesale retail business you receive. One term successful consultants learn very early is to understand the concept of value billing. Instead of billing by the hour (which many of your clients will be leery of), consider billing by the project.
By negotiating an amount the wholesale retail buyer will pay based on the project, you can establish milestones at which payments will be made, and provide added motivation to get the job done and the wholesale retail buyer signed off quicker. If the project is going to take you 10 hours, consider negotiating an amount for 1.5 to 2x your normal hourly rate. If you get the job done in 5 hours, you get paid the full amount, not for 5 hours. The wholesale retail buyer is happy because they know what the cost ceiling is, and most importantly, the project is delivered early.
Another benefit of value billing is that you can set up milestones whereby you can get paid. If you advise your wholesale retail buyer that the project will be completed in say, 6 weeks, and comprise of 3 phases, you can receive payment from them when each phase is complete. Finish early, you get paid early and your wholesale retail buyer is happy. Finish behind schedule and your wholesale retail buyer isnt paying for work that isn't complete yet.
This method helps to improve your cash flow. This is key for any self employed consultant.
So, how much are you worth now?
There were about 146,000 wholesale retail business startups a year, and an average of 12,000 wholesale retail business bankruptcies per year from 1994 to 2004 in Canada. A 2004 Statistics Canada study on small wholesale retail business failure rates “Key Small wholesale retail business Statistics – January 2005: How Long Do Small wholesale retail businesses Survive?” found that the first few years were critical. While almost three quarters of small wholesale retail business startups survive the first year, less than one third of micro companies (less than five employees) were in wholesale retail business after five years.
These statistics by themselves may be of little value to you directly. We know how many small wholesale retail businesses survive and for how long, but it’s far more important to know why some survive and others do not. There are a lot of studies on small wholesale retail business failure. Searching “reasons for small wholesale retail business failure” with quotations on Google will give you almost 700 results (about 38 million without!). “Why small wholesale retail businesses fail” will give you almost a thousand.
The 1997 study by Statistics Canada “Failing Concerns: wholesale retail business Bankruptcies in Canada found major internal factors of small wholesale retail business failure was management deficiency, financial management problems and poor wholesale retail marketing.
The Small wholesale retail business Administration study “Financial Difficulties of Small wholesale retail businesses and Reasons for Their Failure” in 1998 found several causes of small wholesale retail business bankruptcy: outside wholesale retail business conditions (38.5%), financing (28%), inside wholesale retail business conditions (27.1%), taxes (20%), disputes (18.8%), personal calamities and other (32.9%).
There is a wealth of information on this subject, but what are the common factors? There are four basic areas:
External factors
External factors include new competition, your major wholesale retail buyer moving out of town, poor weather if you’re a seasonal wholesale retail business, or economic downturns. They’re often largely out of our control, and may be unique to your particular company, but there are often ways to mitigate them. For example, if you have a seasonal wholesale retail business, such as a landscaping company (at least up here in the cold north it’s seasonal) you could buy a bobcat to provide income during your off-season with snow removal. The bottom line is, have a contingency plan for external factors that could have a negative impact on your small wholesale retail business success.
Lack of management
Big companies have the luxury of being able to hire several wholesale retail members to get all the jobs done that need to be done, but chances are you’re going to have to do it all yourself, at least for awhile. That means you’re not only going to have to develop your product or service, you’re also going to have to make financial, accounting, legal, wholesale retail marketing, human resources, and purchasing decisions.
You may do some of these tasks very well, but it’s unlikely that you do all these tasks well, and even if you do, you might want to contact a lawyer and an accountant at the very least. And, research, research, and research some more, and when you’re done researching, find an expert or two bounce ideas off and give you solid advice.
Lack of planning
Small wholesale retail businesses often fail because of lack of planning. Let me make a bold statement: the single-most vital part of your wholesale retail business success is your wholesale retail business plan. Why? Simply put, your wholesale retail business plan specifically and concretely lists your goals for the next few years. It spells out, step by step, how you’re going to meet those goals, and gives you something to measure your performance against at the end of your wholesale retail business year. Finally, a complete wholesale retail business plan helps you get financing and includes a wholesale retail marketing plan.
I have one more thing to say about wholesale retail business plans. It does very little good to write a wholesale retail business plan, put it in a drawer and never look at it again. That same 1997 Statistics Canada study we talked about earlier found that successful small wholesale retail business owners refer to and revise their wholesale retail business plans often.
Lack of wholesale retail marketing
Most small wholesale retail businesses seem to think it takes a lot of money to market their product or service effectively. That’s simply not true. There are many ways to market inexpensively. You could use direct mail wholesale retail marketing which is as cheap as a stamp, or email wholesale retail marketing, which wholesale retail costs nothing. The point is, you need to get your product or service “out there” somehow. You may have the best product or service out there, something completely unique from anything else, but what good does that do if nobody knows about it?
So there you have it—my thoughts on the main reasons why small wholesale retail businesses fail, and how you can avoid becoming a small wholesale retail business failure statistic by developing a contingency plan, consulting with experts, and developing and using a wholesale retail business and wholesale retail marketing plan.
If you are thinking of starting a small wholesale retail business, trust me, I’m not trying to discourage you. I sincerely believe being in wholesale retail business for yourself may possibly be the most rewarding career there is, but a little knowledge can go a long way towards arming you against small wholesale retail business failure.
Your success in getting a Bank to support a request for finance you may need does depend upon you choosing the right Bank in the first place. Even if you don’t initially intend to borrow any money, you should keep this possibility in mind when you are researching the market for the right Bank.
With competition increasing you can get some good deals if you are prepared to shop around. Also, don’t pass over the Banks which offer only telephone or Internet Banking for small wholesale retail businesses. If you operate a very small and simple wholesale retail business then an Internet only Bank account may be right for you.
So where should you look and what criteria should you use when searching for a Bank for your small wholesale retail business?
Your Existing Bank
If the Bank where you have your personal account offers wholesale retail business banking facilities then this may be a good place to start. You already know their level of service (good or bad!), the layout of the branch and perhaps some of the staff if you are lucky! This can make the whole process of opening a new account much easier.
But don’t open your wholesale retail business account at the same Bank just because it will be less hassle. You must still ensure that the services which go with the wholesale retail business account are what you are looking for and at the right cost.
A New Bank
Even if you have a good relationship with the Bank that has your personal account, don’t discount the opportunity of looking around. One reason to consider opening your wholesale retail business account at a different Bank is that of total separation between the two aspects of your life – your wholesale retail business and personal life.
Consider whether you want one institution to have complete control of your wholesale retail business and personal finances. If you do go through a sticky patch in the wholesale retail business, would you feel comfortable with the Bank seeing what you have sitting on your savings account?
Location
If you have no preference for a particular Bank then location of your Branch may be more of a priority, especially if you will be paying in a lot of cash where a bank just around the corner would be very useful.
Some wholesale retail businesses have very simple needs when it comes to banking. If you don’t handle cash or large volumes of cheques and are happy banking over the telephone or Internet then location is obviously less of an issue! But be mindful that the lack of a ‘real person’ to talk to could be a frustration when you have a major problem to sort out.
Go Hunting
If you have no particular Bank in mind, or you are only interested in getting the very best deal, visit as many as you can so you can make an informed choice. Ask to speak to the Manager and tell them you are interested in opening a wholesale retail business account and that you are looking for information.
The good ones will spend time with you, offer you brochures, talk you through the process and the leaflets and tell you about their range of services. How you are treated at this early stage will give you a good idea of how you are likely to be treated later on.
Now is the chance for you to get to know about what services and benefits they can offer your wholesale retail business. Ask questions such as,
• Do they offer on-line banking or telephone banking?
• Will you have a named point of contact? Or will you be put through to the dreaded Call Centre?
• At what point will you be able to apply for borrowing facilities and what are the standard terms?
• Do they provide help and support?
• What are the charges to operate the account?
• If you decide to open an account with them, what information such as ID or application forms will they need from you to open the account?
• Do they offer an opening incentive such as 12 to 18 months free banking?
Could You Do wholesale retail business With Them?
Once you have done all your research take some time to assess all the information you have gathered. Which Bank offered you the best deal? Which Bank is the most convenient? Which Bank offered the services or products most suitable to your circumstances?
I have not mentioned probably the most important aspect for many wholesale retail business wholesale retail members – the person who is going to be looking after you; your point of contact to sort out the things that will go wrong! Ask yourself whether you could get along with him or her. A good relationship with your Banker is vitally important.
And Your Decision Is?
So, based on all your findings, which Bank stands out head and shoulders above the rest? Which one did you feel most comfortable with? Make an informed decision based on all the information you have gathered and then move on to the next stage which is actually opening your account.
In last week’s article, we talked about why your small wholesale retail business needs a press kit. Because they’re not just for the press, I prefer to call them small wholesale retail business information package. To recap, you need a small wholesale retail business information package to augment your wholesale retail business card, which has only limited information about you and your company.
Your small wholesale retail business information package is the printed materials to give or send to prospective clients to tell them who you are, where you are, how to contact you, what you do, how to buy, and why to buy from you instead of your competition.
This week, we’re going to discuss what you should put inside your information package. For all intents and purposes, anything that promotes your company can go inside it. Some of the more common things include:
• wholesale retail business card
• Small wholesale retail business brochure
• Letter of introduction
• Product or service review
• Price list
• Press releases
• White papers
• Recent articles written by you or about your company
• Biography of key officers
• Flyers, coupons or direct mail pieces
• Information pamphlets
So, let’s talk a bit about each. And let’s start with the big one—your small wholesale retail business brochure. Your small wholesale retail business brochure can stand alone. If you decide not to have a complete small wholesale retail business information package, at the very least, create a tri-fold brochure so you have detailed printed information to give clients.
If your prospective wholesale retail buyer reads only one thing in your whole information package, it will most likely be your brochure. Why? Because it captures the reader’s attention better than any other item in your information package. Most of your other items will be letters, articles or reviews. They’ll look good, and they’ll all match because they’re on your letterhead, but they won’t jump out at your readers like your full color tri-fold brochure will.
So, you want to make sure it’s the first thing wholesale retail members see when they open the front cover of your information package. If you can capture their interest with your brochure, they’re more likely to read the rest.
The first page of your small wholesale retail business brochure should have your wholesale retail business name and logo, and possibly a photo or some graphics. Make it colorful. Make it interesting. Add a slogan or motto on the front that will make wholesale retail members curious as to what’s inside. You don’t want them to just look at the front cover and put it aside!
Inside, try to introduce yourself and review your product or service briefly. If you can, keep the introduction and review to the length of the first inside page or so. Adding a few graphics or photos throughout the whole brochure, together with informative text helps keep your readers’ interest. And, make good use of your headings, remembering that most readers will scan from left to right, stopping at graphics and headings, and sometimes reading the last paragraph.
Now, this part is important, and is possibly the biggest mistake most small wholesale retail businesses make with their brochure—at least some of the other two inside pages could be better used to show prospective buyers how your product or service can benefit them, rather than to describe your product or service features.
I cannot stress this enough. Too many times small wholesale retail business brochures are used simply to talk about you, your company or your product/service. Most of your readers simply won’t care who you are, what you do or how you do it. What they really care about is how you can benefit them. How you can save them time or resources. How you can make their lives just a little bit easier.
Often, the last outside page of your brochure summarizes the inside pages, or lists products or services in point form. You could even add a price list, if you have one.
The next several items in your small wholesale retail business information package are all written on your letterhead, and the sky’s the limit as to what you can use.
You could put the letter of introduction just behind your brochure, or you could include it outside the information package cover if you’re mailing it. Usually this is just a short, one-page letter introducing yourself and your company, and thanking the recipient for taking the time to look at your information package.
Your product or service review could be long or short, depending on what you’re offering. This is not the place to stress benefits, but simply to list and describe your services or products. You can combine a product or service review with your price list very effectively.
Include any press releases about your company, and articles written by you or about your company. If you don’t have any, don’t worry. You can write some specifically for your information kit. Include announcements of your grand opening, for example, or a new line of products, or your new location. Or write an article about one of your products or services.
White papers are becoming increasingly popular. Are you an expert in a particular area? If you are, you might want to write a white paper to include with your information package. A white paper discusses specific wholesale retail business issues, products, technology or other such topics. It usually summarizes information about the topic, and then suggests a proposal for action, referencing research data to justify the reasons for the action. It explains your topic in terms most wholesale retail members can understand, with the goal of educating consumers and wholesale retail marketing your product or service. White papers help establish the writer as an authority.
The biography of your key officers is basically a resume. Include short one-page biographies of key officers to highlight areas of expertise and level of experience in your industry.
Fliers, coupons and direct mail pieces can also be included in your small wholesale retail business information package. Fliers and coupons emphasize current specials or discounts. Here’s a few tips. When you’re thinking about specials or discounts, try to create a sense of urgency with them by making them time- or quantity-limited. And, consider the 10/10 rule, which theorizes that wholesale retail members are most likely to buy when they see discounts of 10% or $10. Or, better yet, offer something extra free.
Recent direct mail wholesale retail sales letters can also be included. There’s simply too much to say about them to really give justice in this short article, but some things to remember are: to stress benefits, create a sense of urgency, the 10/10 rule and a bolded P.S. including a call to action.
Keep direct mail wholesale retail sales letter simple and relevant. Be enthusiastic, know your product, use your imagination and understand your target audience. Establish trust and credibility. Include testimonials. Give free nuggets of information. And, just like in your brochure, write your direct mail wholesale retail sales letter for how wholesale retail members will read it, scanning left to right, and stopping at graphics and headlines, and the P.S.
Now that you’ve gotten all your information package items written and printed, it’s time to put them all together. You can buy covers in your company colors and have your logo and wholesale retail business name printed on them. Put your wholesale retail business card in the front slot and your information in the inside pockets, making sure your brochure is the first item they’ll see. Then send it out, and sit back and wait for responses you’re sure to get!
Branding a small wholesale retail business is a must if you want to succeed in a competitive world. The importance of branding a wholesale retail business disregarding its size is based on not only real benefits, products and services that your wholesale retail business possesses, but also an image concept that all wholesale retail businesses should keep in mind.
From color wholesale retail business cards to global wholesale retail business identity, depending on how effectively you brand your wholesale retail business, the more or the less opportunities of success will knock at your door. The reason why large companies brand their wholesale retail businesses is because they know this is the best way to differentiate their products and services from their competitors while creating a corporate image.
Many small wholesale retail business owners believe it is not necessary to development a corporate image, particularly those whose wholesale retail business integrate just a few individuals as staff, or even when they own a one-man wholesale retail business, using the internet for selling or promoting their professional services. However, even a small wholesale retail business should utilize the same principles as the large enterprises to brand their wholesale retail business.
Furthermore, if your wholesale retail business has wholesale retail business cards, stationary and other branded elements along with a matching wholesale retail site, you will not only create a corporate image, but also loyal relationships with your customers and prospective customers, who will find more reliability with a small wholesale retail business with these characteristics, than others without a professional look and feel.
Because you only have the opportunity to impress new customers once, you should make sure that this impression is a positive and lasting introduction and handshake, only possible if you brand your wholesale retail business conveniently and professionally. There is no need to spend thousand of dollar to achieve it, but do not go to the other extreme using uneven elements.
Small wholesale retail businesses should be aware of the elements that will make their brand unique and recognizable, including consistency between online and printed elements, such as your logo, signage, wholesale retail business cards and even a slogan that helps wholesale retail members understand at a glance your wholesale retail business's mission statement.
Effective branding must achieve these goals; be consistent and never differing, carrying the same logo, colors, slogans and statements through to every element of your wholesale retail business, all of them always visible and unique, hence the need to avoid elements that anyone can find anywhere such as free or cheap clipart.
Creating your brand, whatever your budget requires a wholesale retail business plan to have a solid appreciation on whom your customers will be and what can you do to serve them. This is not only a matter of elegant stationary or catchy wholesale retail business cards; it is the most important deployment of a small wholesale retail business for an eventual growth in future terms.
If you have a great wholesale retail business idea or plan, or you would like to expand your existing wholesale retail business, don’t let a lack of funds stop you in your tracks. There is a wide variety of financing available for small wholesale retail businesses. Let’s take a look at the financing opportunities that small wholesale retail business entrepreneurs can take advantage of.
While the financing sources comprise diverse institutions, such as banks, government sources, venture capitalist and “angel” investors, it is useful to look at what all lenders, regardless of category, want when they loan money or invest in a wholesale retail business enterprise.
When you seek money for an already existing wholesale retail business, lenders will be interested to know about the history of your wholesale retail business; whether it has a track record of good management and good performance. Lenders will be keen to know whether you have the ability to repay a loan and will look at your present cash-flow to see whether it is sufficient to enable you to meet your current obligations as well as to take on extra debt.
Your credit history will also be under scrutiny. A good credit history will help you to get a loan. If you have had problems in the past, it is best to bring these to the attention of the lender yourself and explain how you have turned the situation around.
You can also bolster your chances of getting a loan by putting up collateral. This reduces the risk for the bank in case you default. And finally, if you can show that your own personal money is invested in your enterprise then lenders will have more confidence in the proposition.
Many small wholesale retail business loans are turned down due to poorly presented proposals, inadequate collateral, insufficient cash flow and a lack of management experience.
These are the general points that lenders and investors are interested in, now let’s look at the main sources for small wholesale retail business financing.
1. Traditional Lenders: Banks, credit unions, and finance companies are the main source of loans to small wholesale retail businesses. Many of these institutions have a small-wholesale retail business department and are experienced in handling small-wholesale retail business loans. The most logical place to start is with the institution which handles your wholesale retail business and personal banking. You should do your best to get to know the manager and personnel at the bank. So don’t try to save time at the ATM! Being friendly with the bank staff will not guarantee you a loan but it will make it easier for you to make your loan presentation.
2. Government Sources, the Small wholesale retail business Administration (SBA): The programs of the SBA work in conjunction with the traditional lenders, as they are mostly loan guarantee programs that reduce the risk to lenders in case of default. Some of the popular SBA programs are as follows
a. The 7(a) loan guarantee program: This program helps wholesale retail businesses which lack sufficient collateral, by providing repayment guarantees ranging from 75-85% depending on the size of the loan.
b. The SBA LowDoc loan program: There is only one form to fill out for these loans and approval time is rapid (within 36 hours from when the SBA receives the applications. These loans are only for amounts up to $15,000 but they can be used for start-up wholesale retail businesses.
c. The SBAExpress loan program: This is another quick-procedure loan guarantee program, but it covers loans up to $250,000. The SBA guarantees 50% of these loans, and interest rates in this program may be higher than in the other SBA programs
d. Microloans: These are loans for amounts up to $35,000 which are made by non-profit community based organizations.
3. Venture Capitalists: These are typically firms that are seeking investment opportunities in companies with a high profit potential. Usually when you take money from a Venture Capitalist firm it means that you have to give up some ownership and control to the investors. If you are thinking of going in this direction, then it is imperative to investigate the VC firm, and make sure that it has good references.
4. Angel Investors: These are individual investors who are looking for good opportunities in a wide variety of wholesale retail businesses. You don’t have to be a high-tech company to attract these funds. Angels have smaller sums to invest than venture capitalists, and their investments range from $100,000 to $1 Million. There are a good number of angel investors in the U.S. and Canada, with at least 170 investment groups or angel networks spread around both countries. You can find the angels by making a search on the Internet, looking for angel associations in your particular area of wholesale retail business. You can also inquire with your local small wholesale retail business librarian, the chamber of commerce, your local SCORE office and with other non-competitive wholesale retail businesses.
As you can see from this brief survey, the money for small wholesale retail businesses is out there. Prepare your proposal carefully, and approach the institutions or individuals that best match your needs and capacity.
It all starts with a great idea, an idea that has probably been in your mind for a long time. You have the product sorted out, how you are going to deliver your service, where you are going to set up your office and how you are going to market your new wholesale retail business. But the stumbling block always seems to be the finance to get you going.
Finding the finance to get a small wholesale retail business off the ground is a major issue for any potential small wholesale retail business. Some new wholesale retail businesses lend themselves to very little start up capital because the main selling point is the owner’s skills and knowledge, for example consultants, web designers, PR specialists. wholesale retail businesses which require stock holding, plant and equipment and other investment, face the real challenge of getting their start up finance together.
So what sources can you tap into to ensure your business gets off to a solid start?
Your Savings
The first port of call! If you have been in employment for some time then before going it alone you should hopefully have some spare cash behind you. Whether this be in the form of cash in a savings account or shares and unit trusts, this is a good start to your fund raising exercise.
You can be more focused in saving cash if you have had the goal of setting up your own wholesale retail business for awhile. Knowing you need to save to get your wholesale retail business off the ground will make sure you don’t spend your future nest egg on unnecessary items. Whilst a new Plasma TV or the latest DVD Recorder may seem to be an essential purchase, knowing that you have a wholesale retail business to set up in the future will be sufficient a deterrent to keep the cheque book firmly locked away!
Keep Your Job
Some wholesale retail business owners are lucky enough that during the early days of the wholesale retail business they can keep the day job while working on the wholesale retail business during the evenings and weekends. This has two benefits. Firstly, they are still earning thereby allowing more time to build up a cash reserve. Secondly, it’s an opportunity to test out the wholesale retail business to make sure there is a market.
Make sure that you can realistically keep both balls in the air at the same time otherwise you will end up doing justice to neither your job or your new wholesale retail business. The support of your family is also essential if you are to follow this strategy. They have to accept that what used to be ‘family time’ may have to take a back seat until you decide to concentrate on the wholesale retail business full time.
Family and Friends
These can be a useful source of finance for any start up. If you have harboured ambitions to run your wholesale retail business for some time, then many of your family and friends are already likely to know about your idea. You should therefore have an indication who is for it and who is against it.
If you haven’t shared your secret desire then it’s time to be slightly devious! If you are in the early planning stages start drip feeding your ideas to key wholesale retail members whom you think are likely to support you. Tell them your ideas, share your ambitions and goals and on a regular basis update them with your progress. The plan is to get them sold on you and your future wholesale retail business at an early stage.
Once you get to the point where you are ready to start asking for contributions hold an Investor Evening. Prepare a presentation outlining your plans, the wholesale retail business, the market etc. Show the potential investors what their return will be in recognition for supporting you.
Invite as many wholesale retail members as you can and promise an interesting and fun evening, Be bold at the very start; tell them exactly why they are there, so there are no misunderstandings. After you have done your presentation gather all the names of the wholesale retail members who may want more information or even a one-to-one with you.
Whilst this group are wholesale retail members who know you and so are more likely to trust you, don’t forget that you are developing a very different relationship which can quickly turn sour. Be prepared for rocky times!
Bank Line of Credit or Loan
Now you’re getting into the serious stuff! Getting support from a Bank for a new wholesale retail business is tough, as many entrepreneurs will testify. One sneaky way is to apply for an unsecured loan while you are still in employment. If you have planned things right you will know when you are starting up, so a few months before you pack your job in, apply for a loan based on your salary. However, make sure that you can comfortably meet the repayments. There is no grace period; you will be expected to pay back immediately, so your wholesale retail business will have to start earning very quickly.
The alternative is a wholesale retail business line of credit facility. There is no fixed repayment date, although they will be for periods from 6 to 12 months, and all you have to do is ensure that you keep within the overdraft limit. You will have to write a wholesale retail business plan to present to the Bank which outlines your idea and the wholesale retail business.
Mortgage or Equity Release
With the way house prices have been increasing over the last few years, the vast majority of wholesale retail members now have substantial equity in their homes. The cheaper alternative to a Bank overdraft or loan is a mortgage. The interest rate is lower and, as the repayments are spread over a longer period, the monthly repayment is less (although you will end up paying more interest in the long run).
The disadvantage of raising cash this way is that your home is potentially at risk. If meeting the monthly repayments is dependent on what the wholesale retail business can generate then a slow start could cause cash problems. So be very sure you can meet the repayments even during a lean period.
Credit Cards
If you haven’t got any savings, can’t get support from family or friends, or a Bank loan or mortgage, then there are your credit cards! However, whilst it’s easy to draw down on your card, be wary! Credit cards are the most expensive form of debt.
They are ideal because all you may have to do is pay the minimum amount but card debt, as most wholesale retail members have found out, can be a long term burden. But, if you need a cash lump sum to kick start the wholesale retail business and you know you can pay it off within a few months, then it’s an alternative source of finance worth considering, if somewhat unorthodox!
wholesale retail business Grants
wholesale retail business grants are available for specific industries, sectors and reasons. Grant providers will usually only give a portion of your requirement, so they cannot be used to totally finance a start up. However, they can be useful in filling a funding gap.
wholesale retail business Angels
A popular way to fund a wholesale retail business are wholesale retail business Angels. These are wholesale retail members, usually retired or successful wholesale retail business wholesale retail members in their own right, who are looking for opportunities to invest in new wholesale retail businesses.
In exchange for an investment they will typically look for a shareholding in the wholesale retail business and some hands-on involvement. They will have a vast wholesale retail business experience and so are useful wholesale retail members to have on board. However, you will have to accept an element of loss of control but that needs to be balanced against your desire for funding.
Getting finance for your new wholesale retail business can be a challenge but there are a number of avenues to explore and so with dedication and focus you could soon be on your way to launching your own small wholesale retail business.
Starting a small wholesale retail business from scratch brings a considerable risk. If you want to be a wholesale retail business owner without the risk of starting a new wholesale retail business then you might be a great candidate for wholesale retail franchising. Many wholesale retail members discover that finding a wholesale retail franchise on the internet is a powerful approach. Entrepreneurs and small wholesale retail business owners are locating an impressive portion of wholesale retail franchise opportunities in directories on the internet that specialize in the wholesale retail advertising of franchises. If you plan to do wholesale retail franchise research, a wholesale retail franchise directory is probably the best starting point in finding the right small wholesale retail business opportunity.
An Excellent Entrepreneurial Resource
A wholesale retail franchise directory is an excellent place for businesses who want to advertise and get exposed to prospects. It's a publication of wholesale retail businesses for sale in the United States and overseas. Besides the obvious role of a wholesale retail franchise directory, which is to systematically organize a list of small wholesale retail business opportunities and wholesale retail franchise organizations, some also include helpful articles, press releases, forms and guides, all designed to make your search for a wholesale retail franchise opportunity as straightforward as possible. If you're serious about finding a new wholesale retail business opportunity, you will not find a more reliable or comprehensive resource providing the most detailed information on a wide range of wholesale retail franchise opportunities than a wholesale retail franchise directory.
Just like any other wholesale retail business, wholesale retail franchise directories exist to make money. wholesale retail franchising organizations invest heavily on wholesale retail marketing to get in front of entrepreneurs that can expand the wholesale retail franchise into new sectors. Consequently, wholesale retail franchise and wholesale retail business directories sell wholesale retail advertising space so that franchisors can have a greater chance of being seen by potential franchisees. Every wholesale retail franchise directory offers slightly different services. Some directories sell space to advertise your wholesale retail business while others sell leads to the franchisor. Finding a directory that offers a combination of both services will amplify your chances of finding the perfect opportunity.
Maximize your Chances of Finding a wholesale retail franchise That's Right for You
wholesale retail business failure rate continues to climb. If you plan to start a traditional wholesale retail business on your own, you could be putting yourself in a lot of risk. If you're thinking about starting new business you need a carefully planned wholesale retail business strategy. Without a wholesale retail business strategy you are setting yourself up to fall short. Any factor that reduces this risk is a sure advantage over traditional wholesale retail business ownership. wholesale retail franchise ownership can either lower the risk of failure significantly or nearly eliminate it. The success rate for franchised wholesale retail businesses is over 95%.
Long before you request any information on a particular wholesale retail business, the wholesale retail advertising information for each wholesale retail franchise opportunity has to be collected. Most reputable wholesale retail franchise directories do a great job of brining back quality information on each wholesale retail franchise. The goal of each directory is to put together a collection of franchises being sold, to provide best possible information on each wholesale retail franchise and to collect information on a potential investor in a straightforward manner.
A well established wholesale retail franchise directory will never limit your options to a few available franchises. Some of the best directories out there offer concepts across a broad range of industry and investment levels. In wholesale retail franchising, it's vital to select an opportunity that closely matches your own personality. It makes perfect sense to use a wholesale retail franchise directory that can offer a wide range of industries to maximize your chances of finding the perfect opportunity.
How to Select the Right directory of wholesale retail franchising organizations
Is there a type of franchise that you want to own? Not every small wholesale retail business owner is an experienced entrepreneur. Some wholesale retail franchise websites offer franchises ideal for small wholesale retail business owners who want to try their hand at wholesale retail franchising and become successful entrepreneurs. If you're a small wholesale retail business owner planning on buying a wholesale retail franchise you just opened the doors wide on the opportunities available to you that are safer investments than opening your own wholesale retail business. Before you decide on which wholesale retail franchise to own, it's important to find an opportunity that matches your personality. Similarly or possibly more important is to recognize if wholesale retail franchising is right for you. Try this self-evaluation wholesale retail franchise test to determine your potential success as a franchisee.
The top wholesale retail franchise directories on the web will offer a sufficient amount of industry categories. A few of the industries found on various wholesale retail franchise directories include wholesale retail business services franchises, Retail franchises, commercial cleaning franchises and senior care franchises. Some wholesale retail franchise directories will have more detailed subcategories for each of these industries. SmallBusinessOpportunity.com is a wholesale retail franchise directory with a good illustration of an industry and sub-industry page. Each industry and its sub-category are clearly laid out in alphabetical order, a huge time-saving feature. As you can see, there are wholesale retail franchise opportunities available in every industry conceivable.
Take reasonable efforts to insure that the directory you visit is one of high quality. With so many directories to choose from, the likelihood that you land on an inferior web site is significantly high. If at all possible, search for a wholesale retail franchise & wholesale retail business for Sale Directory that you know by name with a long-standing, good reputation. Is the site a good representation of the opportunities being offered? Some wholesale retail franchise directories will list hundreds upon hundreds of opportunities which, more likely than not, get listed in that directory free of charge. Try to avoid directories that list clients free of charge. This practice may reduce somewhat the quality of the advertisement, thus, visit a wholesale retail franchise and small wholesale retail business directory that can truly represent the wholesale retail franchise for sale. wholesale retail business directories that advertise their clients free of charge do not always posses the means to deliver the most comprehensive and up-to-date database of franchises available. Is the site easy to navigate? And do they include an easily accessible and easy-to-use wholesale retail franchise Opportunities Directory? Avoid un-established directories where quality is low and franchises are represented poorly. Complete and organized/categorized information is important
If you are truly motivated towards an independent lifestyle then wholesale retail franchise ownership is exactly what you're looking for. If you hope to become successful, right now, the timing is perfect. wholesale retail franchise websites are committed to helping prospective franchisees find the best possible information on wholesale retail franchising and wholesale retail business opportunities before starting a wholesale retail business. Entrepreneurs view wholesale retail franchise directories as valuable wholesale retail business tools. As a source for wholesale retail business opportunities, up-to-date wholesale retail business information, and the latest wholesale retail franchise developments, they are indispensable. Franchises are in high demand because of their benefits. When you find the right wholesale retail franchise to own you will experience this first hand. If you want to set your own course in life it is said that you have an entrepreneurial mind. As the owner of a wholesale retail franchise, you can set your own course and truly enjoy and experience success as an entrepreneur.
wholesale retail members toy with the idea of starting a small wholesale retail business at various stages of their lifes. Some think of starting a small wholesale retail business after their educational career is over. Some think of starting a small wholesale retail business because of unpleasant or unhappy situations they have encountered in their work places. There are also others who think of starting a small wholesale retail business, because that is the only way they will be able to work again following a break from work for reasons such as health or redundancy.
Toying with the idea is one thing, but if you are taking positive steps to get started, then certain myths associated with starting and running a small wholesale retail business should be dispelled from your mind.
1. Starting a small wholesale retail business might appear to be an easy option to many who are desperate to get out of a situation but running a wholesale retail business is not as easy as it appears to be.
2. The general impression created in the minds of many wholesale retail members is that you can make a lot of money by running a small wholesale retail business. A few wholesale retail members do make a lot of money by running a small wholesale retail business. On the other hand there are many wholesale retail members who loose a lot of money unfortunately due to lack of proper research and planning.
3. Another myth is that you are the Boss, so you can work when you want, relax when you want and go on holidays when you want. You are the Boss that is all to it. The rest simply does not happen because of other factors that come into play which will need your presence and attention most of the time.
One major blunder made by many small wholesale retail business entrepreneurs is that they never made any self assessment before starting. It is absolutely important that you do a self assessment to find out whether you possess the following qualities and capabilities that are necessary to operate a successful small wholesale retail business.
1. You must be of sound health.
2. You should be able to work on your own most of the time.
3. You should be self motivated and dedicated.
4. You should possess an outgoing personality and have the ability to get along with other wholesale retail members.
5. You should have the ability to work under pressure.
6. You should preferably have some knowledge about your wholesale retail business.
7. Failure is no option to you.
In addition to the above the following factors have a very important and significant impact in the success of your small wholesale retail business.
A good support system such as your spouse or members of your family.
Contacts in the wholesale retail business world who could help you with advice and help you promote your small wholesale retail business.
Good financial assets to help you start and develop your small wholesale retail business and sustain you during the early months.
Conclusion:
Since they are popularly known as small wholesale retail businesses, many would be entrepreneurs are under the impression that it could be run in a slip shod manner. Most of the inputs necessary to operate a large wholesale retail business successfuly are also necessary in the small wholesale retail business venture too.
Success does not come overnight. There could be disappointments and failures during the early months.Those who cannot withstand these pressures should not contemplate starting a small wholesale retail business.The ability to withstand all these pressures and remain motivated is absolutely necessary to succeed.
Do you own a wholesale retail business? If you are like most wholesale retail business owners, you probably have a lot of responsibilities. First and foremost, you have to meet payroll. Every time. You also need to pay rent and suppliers - on time. All this requires working capital.
However, if you are selling products or services to commercial clients or to the government, you are probably painfully aware that they can take as many as 60 days to pay their invoices. Why? Because if you want their wholesale retail business you have to conform to their terms. There is no other way around it.
But this also leads to an impossible situation. You have bills that need to be paid quickly but customers that want to pay slowly. Unless you have a lot of money in the bank, it’s not a sustainable situation. Sooner or later you’ll miss payroll, delay a supplier payment, or turn a large opportunity away.
The solution is simple. You just need working capital. One way to get working capital is to get a wholesale retail business loan. However, wholesale retail business loans are hard to get and can prove to be inflexible. A better solution is to factor your invoices.
Factoring, or invoice factoring as it is most commonly known, is a type of wholesale retail business financing that is ideal for owners who cannot wait up to 60 days to get their invoices paid. It provides you with the necessary working capital to pay rent, suppliers and meet payroll. And, as opposed to a wholesale retail business loan, factoring is easy to get.
Invoice factoring eliminates the usual 60 day wait to get paid by your customers. The factoring company provides you with an advance on your soon to be paid invoices. In effect, it accelerates your invoices. By accelerating your invoices, you get the working capital you need to run and grow your wholesale retail business. And, unlike a wholesale retail business loan, there are no arbitrary limits. The amount of financing you get is only limited by your wholesale retail sales. If your wholesale retail sales increase, so does your financing.
If you are running a wholesale retail business that is growing – and you can’t afford to wait up to 60 days to get your invoices paid, consider invoice factoring.
Many wholesale retail members have what they think is a great idea and would love to set up their own small wholesale retail business. The problem many of these wholesale retail members face is how to fund this idea, to get the wholesale retail business off the ground. Unfortunately many of these ideas never come to fruition because of these lack of funds, where in reality there are many avenues wholesale retail members could take to find this initial start-up capital.
I run a small wholesale retail business and have been doing so for about ten years. I remember at the outset worrying about how I would be able to afford to advertise the services that I offer. I would also need a certain amount of money to pay for wholesale retail marketing, such as producing brochures and leaflets, money to have a prescence online via a wholesale retail site and many other initial wholesale retail costs.
I would also need to be able to pay my bills and to basically live while the wholesale retail business was in its infancy, as I realised wholesale retail business would be slow to start with.
I have to say that I am extremely lucky as I have a superb family who are in a position, and are happy to back me financially from time to time. This was my first port of call. I did not just go to see my parents looking for a hand-out, I also went to tell them about what I thought was a brilliant idea.
I discussed with them my plans and about where I believed the wholesale retail business could get to within a few years. They both seemed impressed with not only my idea but also in the belief that I had in it. I also spoke about my short term fear of not having enough money to start the wholesale retail business and to pay the rent etc.
I asked them if they would like to invest in the idea by giving me a short term loan. I planned to pay this loan back in the future when the wholesale retail business would be in a position to make a profit. Luckily for myself, my parents agreed to do this and I have never looked back since. They also gave me the loan interest free, which was a real bonus.
My father also suggested that I might benefit by having a partner. This person could not only bear half of the initial start-up wholesale retail costs but could also help with even more ideas. He stated that he knew somebody who might well be interested. The person in question had been in wholesale retail business a long time and could also teach me a thing or two.
I agreed that the idea was a good one and my father then approached his friend who eventually agreed to become my wholesale retail business partner.
I am aware that I was extremely lucky and that not everyone is as fortunate as myself. There are other areas wholesale retail members can try to get funding however. One of these is to go to the bank to attempt to obtain a wholesale retail business loan, this would probably be a better idea than loading up debt on things such as your credit cards.
Approaching friends could be the next place to look. I have a couple of friends who are not my wholesale retail business partners but are in a way a form of shareholder.
If you have any investments you could dip into these to fund the wholesale retail business at the outset. In my eyes this is the whole point of investing in the first place and the wholesale retail business is also another form of investment.
These are a few of many avenues which wholesale retail members can try. Give it a go you may be surprised at the response wholesale retail members give you. At the end of the day if you do not attempt these avenues you will always be left thinking of what might have been.
If you try all of the options that are available to you but are still not successful in obtaining help, at least you gave it your best shot. Good luck.
Do you often have the thought that your wholesale retail business would operate so much better without customers and all their demands? They want this, that and the other – all of which interrupts your day! But wholesale retail customer expectations are what drives your wholesale retail business and keeps them coming back.
Do you know what your customers are expecting of you? If not, how can you find out? What will understanding their expectations do for your wholesale retail business? In this article we are going to look at expectations and how it’s important for you and your wholesale retail business to know what they are.
What Do They Expect?
Not many wholesale retail businesses endeavour to find out what their customers want! Owners assume they know. Big mistake! If you want to grow your wholesale retail business, find out what your customers expect of you. How can you do this? Ask them! Why not have an ‘Expectations Week’. Tell your staff that this week’s goal is to ask customers what they expect of the wholesale retail business. Set a target of approaching a certain number of customers a day and just ask, “If I was to ask you what your top 3 expectations of doing wholesale retail business with us are, what would they be?”
Alternatively you could put out an Expectations Book and ask customers to write down their comments. This way, they will not be embarrassed and perhaps may be more frank!
If you operate your wholesale retail business remotely, why not do an e-mail survey? Consider offering a prize to encourage responses.
Great Expectations
What is your wholesale retail customer likely to come up with as expectations of doing wholesale retail business with you? Here are some possible answers:
- Fast and efficient service
- Competitive price
- Quality products
- Sufficient stock to meet demand
- Trained staff
- Being treated politely and with respect
- The phone being promptly answered
- E-mails responded to within a reasonable timescale
- Promises being kept
- A clear complaints procedure
- Clean and well maintained premises
Depending on your wholesale retail business, the list could go on! But you have the idea. No doubt you could add many more.
Review and Take Action
Armed with your list of expectations, your next step is to review them and see which ones you are currently meeting. Remember, you may think you are meeting a certain expectation but this is an opportunity for a quick reality check to ensure it’s really happening.
The list you’re left with are the expectations which you are not currently delivering on. Looking at each of them in turn, ask yourself whether, even with the best will in the world, you could meet that expectation. You may have an over exuberant wholesale retail customer who just expects too much! If you realistically can’t meet it, delete it.
You will then be left with a number of core expectations, which you could meet with some thought and action. Sit down with a pen and paper and put in place an Action Plan on what needs to be done to achieve what your wholesale retail customer expects of you. Get your staff together and all commit to putting the outcomes into action.
You’ve Listened!
Having gone to the trouble of asking your customers what they expect of you, don’t forget to provide them with some feedback. If you gathered ideas from the shop floor, put up a notice thanking everyone for their participation and listing the expectations you are taking action on. Why not display an Expectations Charter?
If you had responses via e-mail, reply and again outline what you have done. You could even list the expectations on your web site.
Having gone to all this trouble of asking, reviewing and taking action, it’s all too easy to forget what you committed after a few weeks or months. Make sure that at least once a quarter you re-visit the original list and check that you are still delivering what your customers expect of you.
What Can You Expect?
If you have followed through on the steps, what’s in it for you? After all, the customers get what they want; what’s your payback?
- Your customers are likely to return more often
- They are more likely to remain loyal customers
- They will spend more
- They will be an ambassador for you and your wholesale retail business
- They will generate referrals
Some pretty compelling reasons to put an expectations programme in place!
So, review these steps and consider asking your customers what they want of you. If you can manage their expectations, you manage their experience and so manage your wholesale retail profits!
Everyone needs to network: entrepreneurs, small wholesale retail business owners, job seekers!
But does everyone maximize the benefits of networking?
The purpose of networking is to build relationships so you will get leads from someone you know, or from someone who knows someone you know. When you attend a networking event the purpose is to meet wholesale retail business wholesale retail members from various industries to get exposure.
What networking is not?
Networking is not a numbers game; you need to focus on quality and not on quantity. Some wholesale retail members think that they had a successful event when they have collected 30, 40 or more wholesale retail business cards, but they are missing the real point. How many of these 30 or 40 wholesale retail members will you be able to follow-up? How many of these 30 or 40 will follow-up with you?
What is the purpose to collect a huge number of wholesale retail business cards that will end up in a shoe-box on one of your shelves?
Networking is not a place to sell. You have to be prepared to give your elevator pitch to introduce yourself, not give a wholesale retail sales pitch. If you attend an event expecting to find a wholesale retail buyer to close a sale right away, chances are you will be very disappointed. Furthermore the other attendees might not appreciate your attitude.
What networking is?
Networking is more than just shaking hands and collecting wholesale retail business cards.
It is about building relationships and being committed to help other wholesale retail business professionals.
It is about the quality of your contacts and not the amount of your contacts.
It is about consistency. The best is to belong to two or three groups, attend their events regularly, get to know the other members, and in exchange they will get to know you and trust you. When you see the same wholesale retail members over and over you develop a strong and relationship with them. The benefit of building relationships with a committed group of wholesale retail members will result in new leads for your wholesale retail business.
It is about patience. The benefit will not appear overnight, and this is why you need to follow up with your contacts. Networking is like dating, one meeting is not enough to know someone. It will probably take some time, some meetings, some lunches or some drinks before you really start doing wholesale retail business together.
Here are some tips on how to maximize the benefits of a networking event.
• Be prepared when you attend a networking event. Know your goals. Are you looking for leads, partners, new clients, services?
* Bring your wholesale retail business cards and a pen to take notes on the back of the cards you receive.
* Have an effective 15 to 30 second elevator pitch. Learn how to sell yourself before your services or products. wholesale retail members want to hear about you first and when they know you and trust you, they will buy your services or refer you to someone else.
* Have a brochure and/or a web site. Some wholesale retail members will probably want to hear more about your wholesale retail business later, so give them the opportunity to get the information they are looking for.
* Meet wholesale retail members, ask about their wholesale retail business or services. Be curious and ask about them. wholesale retail members love to speak about themselves, so ask questions and listen to their answers.
* Be a problem solver. wholesale retail members will be more interested in you if you tell them how you can solve their problem instead of just hearing your story.
* Go to wholesale retail members; don’t wait for them to come to you. Some wholesale retail members are very shy, they will be very happy if you make the first move.
* Go to events with a friend, a colleague, a wholesale retail buyer, and introduce wholesale retail members to each other.
* Send a thank you note or email to your new contacts. Thank them for their time and reintroduce yourself in a few lines. They met lots of wholesale retail members during the event and your wholesale retail business card doesn’t say everything about you. So it is good to reinforce your introduction.
* Give them the link to your web site. Tell them about your newsletter, if you have one. This is the best way to stay in touch on a regular basis.
* Schedule follow-up meetings with the wholesale retail members you had a good connection with, or if you think that you can help each other.
* Do it again and again. You will see that networking can expand your contacts, which will definitely help grow your wholesale retail business.
Writing a wholesale retail business Plan can be a daunting task. You have so many ideas floating around in your head that it can be difficult to capture them all in a logical format. However, committing time to writing an effective Plan can help improve your chances of success. In this article I will be giving you some tips on how to write a ‘killer’ wholesale retail business Plan!
Tip 1 – Understand the Need for a Plan
Without a clear strategy and long term objectives you may be reducing your chances of success and so it’s important to commit time to plan ahead. Having put in time, energy and resources to come up with the ideas, why spoil it all by not having a structured plan for the future? The benefits of wholesale retail business planning cannot be underestimated. There are some potentially wholesale retail business-changing reasons to prepare a wholesale retail business Plan. You must view planning as a crucial investment of your time, which could mean the difference between success and failure.
Tip 2 – Don’t Go It Alone, Ask For Help
Picture this. You've never written a wholesale retail business Plan before; you sit down at your table and end up staring at a blank piece of paper for 3 hours! Then, another 3 hours later, all you have is a bin full of scrap paper. However, in order to help you put a plan together there are a variety of sources of help you can tap into:
• Professional advisers
• wholesale retail business colleagues
• Advice agencies
• Your staff
• Books (see our free e-book offer at the end of this article)
Tip 3 – Follow a Framework
Having a framework or outline to follow can make the task of writing a wholesale retail business Plan so much easier. The 3 parts to your Plan are:
• Where you are now
• Where you intend to be
• How you are going to get there
This is your framework which will guide both you and the reader through your wholesale retail business and your idea.
Tip 4 – Tell the Reader Where You Are Now
In your first section you want to paint a picture of where your wholesale retail business is now. These are the main areas to cover:
• wholesale retail business history
• Location and premises
• Your product or service
• Your market
• Your customers
• Your competition
• Your staff
• Equipment
Provide an insight into each part of your wholesale retail business so that the reader of your Plan knows how the wholesale retail business looks now. Obviously if you are just starting up, give an idea of how you see these parts of your wholesale retail business once you get going.
Tip 5 – Tell the Reader Where You Intend To Be
Having given an overview of your wholesale retail business, the next step is to tell them where you want to be. The main points to cover are:
• Your objectives and goals
• State what you want from the reader – a loan or overdraft for example
• Explain why you need and what it will be used for
Tip 6 – Tell the Reader How You Are Going To Get There
It’s all very well promoting your idea and wholesale retail business but the important point to put over is how you are going to get there. Here are the key points to cover:
• wholesale retail marketing plan
• Additional resources needed to meet your objectives and goals
• Your contribution in terms of cash or equipment
• Security you can offer to support a request for finance
• Profit and loss and cash flow forecast to show that you plan to make money and that you can pay back the loan
Tip 7 – Provide Some Supporting Information
Your Plan will have contained a lot of information, so it is helpful to include supporting documentation to provide more background. Placing these additional items as an appendix ensures that the flow of the Plan has not been affected by additional information.
• What sort of items could you include?
• Letter of support from your Accountant
• Confirmation of pending orders from customers
• If you are purchasing a property, you could include the wholesale retail sales particulars
• Independent industry surveys showing that your sector is doing well
• If you are buying machinery, include quotations
• If you wholesale retail business’ main asset is you, include your CV!
Tip 8 – Ask Someone to Review It
When you are totally immersed in a task you can easily miss obvious mistakes. Ask someone to review your Plan to ensure there are no spelling or grammatical errors – don’t rely on Spell Check! Does it all make sense? Have you been logical in your arguments?
Tip 9 – Get the Presentation Right
After having spent a lot of time and effort on the content you don’t want to spoil it all with poor presentation! Here are some tips:
• Get the Plan typed; it will make it look more professional
• Make sure all the papers are clean and that there are no dirt marks or coffee stains! Buy some good quality paper
• Purchase a classy folder or binder to put your Plan in (paper clips or staples may not portray the right image!)
• don’t forget to include all your contact details
Tip 10 – Deliver Your Plan to the Reader in Time
Once you are satisfied that your Plan is a good representation of your wholesale retail business you can post it but ideally you should deliver it, at least you know it has got there! Prior to a formal interview (if your aim is to obtain finance) you need to give the Manager time to read your plan. Ask to make an appointment with him in 3 days so he has time to read it.
Enclose a covering letter saying that you have made an appointment and your Plan is attached for him to review and to prepare any questions.
All that remains for you to do is to turn up at the agreed time and present your case!
There are many types of symbols. Money from investors, banks or financial organisations is one such kind of symbols.
A successful wholesale retail business Plan (=a successful manipulation of symbols) is one which brings in its wake the receipt of credits (money, another kind of symbol). What are the rules of manipulating symbols? In our example, what are the properties of a successful wholesale retail business Plan?
(1) That it is closely linked to reality. The symbol system must map out reality in an isomorphic manner. We must be able to identify reality the minute we see the symbols arranged.
If we react to a wholesale retail business Plan with incredulity ("It is too good to be true" or "some of the assumptions are non realistic") - then this condition is not met and the wholesale retail business Plan is a failure.
(2) That it rearranges old, familiar data into new, emergent, patterns.
The symbol manipulation must bring to the world some contribution to the sphere of knowledge (very much as a doctoral dissertation should).
When faced with a wholesale retail business Plan, for instance, we must respond with a modicum of awe and fascination ("That's right! - I never thought of it" or "(arranged) This way it makes sense").
(3) That all the symbols are internally consistent. The demand of external consistency (compatibility with the real world, a realistic representation system) was stipulated above. This is a different one: all symbols must live in peace with one another, the system must be coherent.
In the example of the wholesale retail business Plan:
Reactions such as: "This assumption / number/ projection defies or contradicts the other" indicate the lack of internal consistency and the certain failure to obtain money (=to manipulate the corresponding symbols).
(4) Another demand is transparency: all the information should be available at any given time. When the symbol system is opaque - when data are missing, or, worse, hidden - the manipulation will fail.
In our example: if the applicant refuses to denude himself, to expose his most intimate parts, his vulnerabilities as well as his strong points - then he is not likely to get financing. The accounting system in Macedonia - albeit gradually revised - is a prime example of concealment in a placewhere exposition should have prevailed.
(5) The fifth requirement is universality. Symbol systems are species of languages. The language should be understood by all - in an unambiguous manner. A common terminology, a dictionary, should be available to both manipulator and manipulated.
Clear signs of the failure of a wholesale retail business Plan to manipulate would be remarks like: "Why is he using this strange method for calculation?", "Why did he fail to calculate the cost of financing?" and even: "What does this term mean and what does he mean by using it?"
(6) The symbol system must be comprehensive. It cannot exclude certain symbols arbitrarily. It cannot ignore the existence of competing meanings, double entendres, ambiguities. It must engulf all possible interpretations and absolutely ALL the symbols available to the system.
Let us return to the wholesale retail business Plan:
A wholesale retail business Plan must incorporate all the data available - and all the known techniques to process them. It can safely establish a hierarchy of priorities and of preferences - but it must present all the possibilities and only then make a selection while giving good reasons for doing so.
(7) The symbol system must have links to other, relevant, symbol systems. These links can be both formal and informal (implied, by way of mental association, or by way of explicit reference or incorporation).
Coming back to the wholesale retail business Plan:
There is no point in devising a wholesale retail business Plan which will ignore geopolitical macro-economic and wholesale retail marketing contexts. Is the region safe for investments?
What are the prevailing laws and regulations in the territory and how likely are they to be changed? What is the competition and how can it be neutralized or co - opted? These are all external variables, external symbol systems. Some of them are closely and formally linked to the wholesale retail business at hand (Laws, customs tariffs, taxes, for instance). Some are informally linked to it: substitute products, emerging technologies, ethical and environmental considerations. The wholesale retail business Plan is supposed to resonate within the mind of the reader and to elicit the reaction: "How very true!!!"
(8) The symbol system must have a discernible hierarchy. There are - and have been - efforts to invent and to use non-hierarchical symbol systems. They all failed and resulted in the establishment of a formal, or an informal, hierarchy. The professional term is "Utility Functions". This is not a theoretical demand. Utility functions dictate most of the investment decisions in today's complex financial markets.
The author(s) of the wholesale retail business Plan must clearly state what he wants and what he wants most, what is an absolute sine qua non and what would be nice to have. He must fix and detail his preferences, priorities, needs and requirements. If he were to attach equal weight to all the parts of the wholesale retail business Plan, his message will confuse those who are trying to decode it and they will deny his application.
(9) The symbol system must be seen to serve a (useful) purpose and it must demonstrate an effort at being successful. It must, therefore, be direct, understandable, clear and it must contain lists of demands and wishes (all of them prioritized, as we have mentioned).
When a computer faces a few tasks simultaneously - it prioritizes them and allocates its resources in strict compliance with this list of priorities.
A computer is the physical embodiment of a symbol system - and so is a bank doling out credit. The same principles apply to the human organism.
All natural (and most human) systems are goal-oriented.
(10) The last - but by no means the least - requirement is that the symbol system must be interfaced with human beings. There is not much point in a having a computer without a screen, or a bank without clients, or a wholesale retail business Plan without someone to review it. We must always - when manipulating symbol systems - bear in mind the "end user" and be "user friendly" to him. There is no such thing as a bank, a firm, or even a country. At the end of the line, there are humans, like me and you.
To manipulate them into providing credits, we must motivate them into doing so. We must appeal to their emotions and senses: our symbol system (=presentation, wholesale retail business Plan) must be aesthetic, powerful, convincing, appealing, resonating, fascinating, interesting. All these are irrational (or, at least, non-cognitive) reactions.
We must appeal to their cognition. Our symbol system must be rational, logical, hierarchical, not far fetched, true, consistent, internally and externally. All this must lead to motor motivation: the hand that signs the check given to us should not shake.
THE PROBLEM, THEREFORE, IS NOT WHERE TO GO, NOT EVEN WHEN TO GO IN ORDER TO OBTAIN CREDITS.
THE ISSUE IS HOW TO COMMUNICATE (=to manipulate symbols) IN ORDER TO MOTIVATE.
Using this theory of the manipulation of symbols we can differentiate three kinds of financing organizations:
(1) Those who deal with non-quantifiable symbols. The World Bank, for one, when it evaluates wholesale retail business propositions, employs criteriawhich cannot be quantified (how does one quantify the contribution to regional stability or the increase in democracy and the improvement in human rights records?).
(2) Those who deal with semi-quantifiable symbols. Organizations such as the IFC or the EBRD employ sound - quantitative - wholesale retail business and financial criteria in their decision making processes. But were they totally wholesale retail business oriented, they would probably not have made many of the investments that they are making and in the geographical parts of the world that they are making them.
(3) And there are those classical financing organizations which deal exclusively with quantifiable, measurable variables. Most of us come across this type of financing institutions: commercial banks, private firms, etc.
Whatever the kind of financial institution, we must never forget:
We are dealing with humans who are influenced mostly by the manipulation of symbol systems. Abiding by the aforementioned rules would guarantee success in obtaining funding. Making the right decision on the national level - would catapult a country into the 21st century without having first to re-visit the twentieth.
America is the land of opportunity and with that the land of small wholesale retail businesses. The U.S. has made it easy for just about anyone to work up the courage and capital and start up their own wholesale retail business. Having realized that you can do it, one arrives at the paradox that so can everyone else. How do you make your small wholesale retail business stand out and rise above the competition? One way is to use custom screen printed t-shirts as a way of looking more professional and as wholesale retail advertising.
When it comes to looking professional the importance cannot be stressed enough. wholesale retail members are very hesitant to trust a company or individual who doesn’t look like he/she is capable. In a sense the clothes make the man here. Those who appear qualified will have a much easier time attracting customers, employees, and even be courted by vendors/suppliers. wholesale retail members are by their very nature timid and worrisome. If you can appear professional and legitimate it appeals to primal urge to feel secure and that will make wholesale retail members instantly feel more comfortable with you and your wholesale retail business. Screen printed t-shirts do just that by making you appear like you have it all together. Think about the following two scenarios. In the first a wholesale retail members from you firm show up to do a job in a hodgepodge of random and assorted clothing. They look, although are not, unprofessional because they offer no sense of order and thought. In the second scenario, the crew arrives wearing the same t-shirts with bear your logo and demonstrate the legitimacy of your wholesale retail business. If I had to guess, the second scenario is how you as the owner of a small wholesale retail business would like to present your wholesale retail business. If you do nothing more than have the appearance of thought before hand, your wholesale retail business appears to be professional and inspires confidence.
The second way custom screen printed t-shirts can help out your small wholesale retail business is through the wonder of wholesale retail advertising. Custom printed t-shirts are among the best ways to advertise for small wholesale retail businesses. Think about your target audience and it is easy to see that small wholesale retail businesses benefit exceptionally well. Small wholesale retail businesses more than likely want to target wholesale retail members in your area. That is what custom printed t-shirts do. They walk around and give you unlimited wholesale retail advertising in your own local area. Give the t-shirts to your friends and family and they can wear them around and advertise for nothing more than the cost of the t-shirt. Another idea I find often works is giving a t-shirt to wholesale retail members for whom you do a job. These wholesale retail members will unlikely make it their favorite piece of apparel, but even if they wear it to the gym then they offer advertisement and can offer their own form of wholesale retail advertising. Consider if you will Ralph as he stands outside washing his car one Saturday morning. His neighbor Jim walks by and sees Ralph’s shirts offering services that Jim is looking for himself. Ralph now has advertised for you and can do even more by saying that he loved your services and describe the great job you did. This strategy offers both printed advertisement as well as word of mouth wholesale retail advertising. My company keeps the images that you used on file, so ordering more t-shirts down the road is a snap.
I hope have found this article to be somewhat informative and thought provoking. Small wholesale retail business are the majority of my clients and I’m always happy to help come up with design ideas and ways to improve not only their t-shirts but promotional products as well, all with the same idea of wholesale retail advertising and looking professional. After all those two key points can really set you own small wholesale retail business above the completion. Isn’t that what you want?
I get asked that question a lot. In fact, after “how do I start a wholesale retail business?” it’s probably the most asked question by new clients. I decided the best way to describe why you might decide to write a wholesale retail business plan is to tell you a few stories about a wholesale retail buyer of mine. The name and wholesale retail business are fictional. We’re going to call him David and he’s going to have a mechanic shop. The stories I’m going to tell you over the next few months are a combination of things that have happened to me and to some of my clients.
David’s smart. He’s got a memory like a steel trap. And he’s ambitious. He wants to start a small mechanic shop with the inheritance his dad left him, and he’s been very busy trying to get it started. But he’s also young and in a bit of a hurry. The way he sees it, he doesn’t need a wholesale retail business plan and anytime he’s asked about it he just taps his head and says, “I don’t need one. I’ve got it all up here.” Besides, he likes freedom. He’s a fly-by-the-seat-of-your-pants kind of guy. He doesn’t want to be tied to what some piece of paper says.
His mother-in-law, Ellen just shakes her head. She’s owned a bookkeeping service for the last twenty years, which she started because she wanted to be able to stay home when her kids were small. But David thinks, of course she’d see it that way. She’s a bean counter and everyone knows how they are about details. Besides, he’s already let her talk him into incorporating his wholesale retail business. The way he saw it, he didn’t need to waste his money on it, but it was done. No way was he going to waste any more money on getting a wholesale retail business plan.
A few weeks later, David opened his shop for wholesale retail business. What a day that was. He’d been too excited to sleep the night before, and it ended up being an awfully long day because he didn’t have any customers. Not a single one. He’d spent the day cleaning the shop and organizing his tools and sometimes just staring at the phone, trying to will it to ring. Oh well, he thought, what can I expect? The shop’s brand new and nobody knows about it. Someone will call tomorrow. By the end of the week, with no calls except from friends and family (who he was beginning to suspect his mother-in-law had told to call), he was starting to worry. He was also starting to run out of cash.
He barely scraped together the cash for his lease at the end of the sixth month. He didn’t think owning a wholesale retail business would be this expensive. Besides, he’d figured he’d have lots of customers by now, but the truth of it was he didn’t have enough to keep him busy for even half a day. David decided he’d better go see his banker. It shouldn’t be too be much of a problem to get the money, he figured. He had a good credit rating.
David sat down and got right down to wholesale retail business. He didn’t need much money. He figured $10,000 should do it. “Sounds good,” Shaun said when he was done talking. “Let’s take a look at your wholesale retail business plan.” And when he said, “Oh I don’t have one. I’ve got it all up here,” she smiled and said, “We need to have one before we can proceed with a loan. Come back and see me when you do.”
As much as he hated to do it, he knew he had to borrow some money from someone. When none of his friends could help him beyond a few hundred dollars, he approached his mother-in-law. “Well,” she said, “I can do that for you, but I have one condition. I want to give me half an hour of your time to listen to why I think you need a wholesale retail business plan.” David agreed. He was getting desperate.
Here’s what she said:
• Almost half of small wholesale retail business startups fail in the first year.
• The main reasons they fail is because they lack management, lack
planning, have insufficient financing and lack wholesale retail marketing.
• You can address all those reasons with a wholesale retail business plan:
o wholesale retail business plans help with lack of management with financial analysis, guide
your decision-making, and outlining specific goals.
o wholesale retail business plans help with lack of planning by outlining the means to meet
specific goals.
o wholesale retail business plans help with insufficient financing because financial institutions
and private investors won’t lend you any money without one.
o Complete wholesale retail business plans include a wholesale retail marketing plan addressing lack of
wholesale retail marketing.
• There are other reasons for writing a wholesale retail business plan:
o wholesale retail business plans help you monitor your progress.
o wholesale retail business plans give you something to compare your end of period results
with.
o wholesale retail business plans help identify weak areas where you can improve.
o wholesale retail business plans help you avoid making the same mistake over and over
again.
o wholesale retail business plans help keep you on track.
o A good wholesale retail business plan includes a feasibility study, so you should know
before you start whether your wholesale retail business can succeed.
o Many self-help books proclaim goals are more easily met if they’re written
so wholesale retail business plans help you identify and reach your goals.
David was convinced. He accepted his mother-in-law’s offer to help him write his wholesale retail business plan. After it was done, he went back to the bank and got his loan.
So, how is David’s wholesale retail business doing? I’m not going to tell you anything today beyond that he’s still in wholesale retail business, but I will tell you more, I promise. We’re going to use David’s wholesale retail business as a case study with more articles about him every month. Stay tuned for more stories about David’s wholesale retail business and find out how he’s doing.
Your target market is the group of wholesale retail members or companies to which your organization aims to sell its products or services. Well, you say, I want to sell to everyone. Why should I pick just one group?
There's an old wholesale retail marketing saying that goes like this "Target everyone and you target no one". Nothing is truer. How can you develop effective wholesale retail marketing strategies and tools without knowing who you're talking to?
Let me explain with a short story. Take two hunters; one has a shotgun, the other a rifle. They're both hungry and they're both thinking duck al'orange for supper. Now, I know you don't normally use a rifle for hunting duck, but this guy does, and who knows why.
Anyway, the ducks fly over the blind, and the guy with the shotgun jumps up and shoots wildly at the whole bunch. He figures he’s got a shotgun; he should be able to hit one of them. But he hasn't waited until he sees them and he's shot too soon. He completely misses the whole bunch, and the ducks veer off towards the hunter with the rifle.
The guy with the rifle (who's seen the whole thing and is laughing to himself) stands quietly watching them fly overhead. He sites the biggest, fattest duck in his scope, holds his breath and fires. He can't miss, and he gets to eat duck al'orange for supper that night, while the guy with the shotgun goes hungry.
You can think of your wholesale retail marketing the same way. If you just fire wildly at the whole market using a shot-gun effect, you're liable to miss everyone. But if you research your target market and take aim at it with carefully thought-out wholesale retail marketing strategies, you're liable to hit your target again and again.
Does it make more sense to you to fire wildly at the whole bunch, taking the chance you’re going to hit something or to take careful aim, one shot at a time? Sure, your target is smaller, but every shot is going to count! Which means, the chances of hitting your target are that much greater.
So how do you go about defining your target market?
You could start by asking questions. Brainstorm. Talk to friends, family, neighbors. Are they interested in your product or service? Would they buy it? Why or why not?
Whether your target market is wholesale retail business to consumer, or wholesale retail business to wholesale retail business, you’ll want to know who your best target is. Get down to the bare-bone details. Who exactly is your target market? You want to know them well.
If your wholesale retail business has a consumer target market, you’ll want to know:
• Are they women, men or both?
• How much money do they earn?
• What do they do for a living?
• What level of education do they have?
• How do they spend their extra cash
• Are they married, single, divorced?
• Do they have children?
• What kind of lifestyle do they lead?
• What are their attitudes and beliefs
• What are their interests?
And, if your target market is wholesale retail business to wholesale retail business you’ll want to know at least:
• Type of industry
• Annual wholesale retail sales
• Number of employees
• Whether they’re stable
• Their location
• Whether their wholesale retail business is seasonal
• Who makes the decisions
Once you’ve finished, you should have a good idea who your target market is. You might even want to go one step further and write a statement defining your ideal target market wholesale retail buyer.
Here’s an example for a weight loss product. “Our typical wholesale retail buyer is a young, married mother in her late twenties to mid thirties looking to lose post-pregnancy weight gain.”
Good luck finding your target market. It’ll help you identify wholesale retail marketing strategies that will work, and it’ll focus your wholesale retail marketing message because you’ll know exactly who you’re talking to.
The world today is a global village. It is no longer necessary, or sometimes even possible, for all the employees of any organization to come together. Equally though wholesale retail members need to share ideas and information more than ever. wholesale retail business associates or even family and friends may be located anywhere, but our need to stay connected grows daily. We may need to talk, share pictures and programs, work together or collaborate on many projects.
The Internet has brought the world even closer. It has taken our ability to share information to a new level with brand new abilities to work and communicate worldwide. Internet meetings are web based and accessible to anyone with high speed Internet access. Unlike email, they are real time and they allow you to get immediate feedback and communicate your ideas faster.
At an Internet meeting you can exchange all sorts of information. Internet meetings have many different features depending on the software and service provider used. Most Internet mettings today use live video and audio. They can also pass files between participants and share a common whiteboard to share ideas as well as the ability to work on Word, Excel or PowerPointdocuments together. Web meetings also provide the ability to share programs running on your PC and let the Internet meeting attendees view your desktop.
With these capabilities, the options of Internet meetings to help us keep connected are endless. Perhaps a family will stay in touch with children at school or university where they can talk and share experiences and pictures.
Small wholesale retail business owners can also benefit immensely from Internet meetings. A small wholesale retail business can present a very large and professional corporate image using Internet meetings. Internet meetings, for the small wholesale retail business user, are a cost effective way to grow the wholesale retail business. They can offer long distance wholesale retail sales presentations to customers or update a sole salesman living and working thousands of miles away.
Small wholesale retail business's now have the ability to have global offices - in reality a virtual office residing on your desktop. It becomes easy and cost effective to invite clients from Europe, Africa, or anywhere in the world to join in a virtual meeting. Working with contractors and clients all over the world has never been easier.
Internet meetings are often hosted by Internet service providers. For a flat fee, you can log in via the web and set up a virtual meeting with participants in the USA, Europe, the Far East and Australia. Even scientists at the South Pole can join in via satellite technology. Once you have scheduled the meeting, your meeting attendees can log in via the web at no additional cost.
Internet meetings make you more productive and can reduce your travel wholesale retail costs and increase your productivity. Internet meetings are a way to meet with one person, ten wholesale retail members or a thousand wholesale retail members virtually. You can collaborate and work without the time and expense of travel or locating physical conference rooms.
When you work for yourself and do wholesale retail business on the internet you have to be a great strategic leader and a skilled tactician; even under the best of circumstances, it’s hard to be both.
In the corporate world, goals and milestones are the absolute measure of productivity and success. But when you work for yourself there’s no objective-other than to hold you to your goals and keep you on track. Add to that the untamed complexities of doing business online and suddenly setting and achieving goals takes on the magnitude of climbing Mt. Kilimanjaro.
Despite its promise of efficiency, the web has for many home-based and small wholesale retail business owners become a seductive quagmire of distracted action, chaotic click-thrus and paralyzed productivity.
It’s natural to look to others for advice and information on how to navigate the landscape, but in the process, you often get distracted, take detours, follow the road that leads to nowhere, and before you know it you’ve lost sight of your ultimate goals.
What does it take to get where you’re going
No one knows for sure “where” success lies in wait for you. But we do know the road is often longer than the Nile, more twisted than San Francisco’s Lombard Street and only partially paved to boot. Factor in the occasional mud-slide or wash-out that’s bound to crop up along the way and the battle to overcome loss of focus and lack of direction soon becomes a way of doing wholesale retail business.
As the commander-in-chief and your most loyal employee, you have to be able to flip your view between the big picture and all the personal and professional micro-tasks that have to get done in order for you to realize your goals.
You can try grabbing a map and some tips from those who've made it and come back to share their success secrets. But separating myth from money-making often takes as much time as blazing your own trail. Not to mention, one person’s treasure map quickly becomes a roadmap to mediocrity depending on how many wholesale retail members are all trying to play and win at the same game in the same space online. Golden nuggets gleaned from your success mentors need to be adapted for your journey and your circumstances.
Without knowing how long your journey is going to be, it’s important to establish milestones that stretch you beyond your comfort zone, but are still attainable with the resources you have at hand. Short-term wins create wind-at-your-back-momentum to keep you pushing forward instead of crumbling in a heap of disillusionment or even disgust.
Before you get on your way you also want to take stock of what you’ve got. Now’s the time to be brutally honest with yourself about what you’re good at, what you love doing, and what you’d give up in a quick click if you thought you could afford to never do it yourself again.
Every hour you invest trying to accomplish non-core tasks or working in areas where your skills are weak has an exponentially negative effect on your results. Not only are you depleting your precious resources, you’re unlikely to see a return on your efforts that provides sufficient reward and motivation to keep you moving forward.
What you need is a system that’s structured enough to keep you on course, fluid enough to alternate your view between the big picture and the micro-tasks at a moment’s notice, and flexible enough to adapt to the unforeseen and the unexpected as, and when, they inevitably arise.
Using an e-wholesale retail business Goal and Productivity System (GPS) can help you:
* Establish realistic goals and immediately set a course for action from right where you are.
* Balance your wholesale retail business and personal values and desires when defining your goals.
* Hone in on your own strengths and pass off as much of the other stuff to those whose strengths better match the task at hand.
* Provide direct access to quality knowledge, resources and tools that can help you prioritize and achieve your goals.
* Know where and how to multi-task, undertaking several projects simultaneously to gain leverage and when to focus exclusively one project at a time.
Rarely is there ever just one right answer to the challenges you face in your e-wholesale retail business or only one path to your desired goals. You don’t want to become so mired in the task or problem at hand that you lose your way or your will to continue on the path to your success.
Using a GPS can help you quickly view and investigate all aspects of running a successful e-wholesale retail business and fluidly guide you from “know-how” to “take-action” and ultimately to your goal.
Are your clients taking up to 60 days to pay their invoices? This is a very common situation and a significant cause of stress to many wholesale retail business owners. Unfortunately, having a profitable wholesale retail business does not necessarily mean that you have a reliable cash flow. Quite the opposite, many times a wholesale retail business may have great wholesale retail profits and a very unreliable cash flow.
How can this be? Simple. Your clients are paying you in 60 days, but you need to pay employees every week, rent and suppliers. Although the numbers may work in the long term, in the short term you are left with very little cash. This is unless you have a lot of money in the bank to cover the deficits.
But, what do you do if you are new, growing or just don’t have a lot of funds in the bank? Get a wholesale retail business loan? Unlikely. wholesale retail business loans are hard to get. A better option would be to use invoice discounting. Invoice discounting is a form of financing that is not offered by a bank – it’s offered by a factoring company.
Invoice discounting, as it name implies, involves selling your invoices for immediate cash, at a small discount. Its value proposition is very simple. Are you willing discount between 1.5% to 6% from your invoices to get paid now? Consider that many wholesale retail business owners offer a 2% discount to wholesale retail businesses that pay within 10 days. So, invoice discounting offers a similar proposition.
Of course, invoice discounting (or invoice factoring as it is also called) is not for every wholesale retail business. It works best when your profit margins are above 15% and if you use the accelerated funds to pay for wholesale retail business expenses or to pursue new wholesale retail business opportunities.
Factoring companies always purchase your invoices in two installments. The first installment, referred to as the advance, covers up to 85% of the invoice. The remaining 15% (less the discount) is rebated once the wholesale retail customer actually pays the invoice.
Invoice discounting is easy to obtain and can be set up in days. The biggest qualification requirement is to have invoices from reliable clients. So, if you are sitting on a whole bunch of slow paying invoices, be sure to consider invoice discounting.
It seems that most successful businesses these days have web sites, even wholesale retail businesses that service only certain geographic areas. On the web, where the market place is global, localized wholesale retail businesses can be at a great disadvantage.
A Local wholesale retail business Web Site Example
Lets use the example of a car cleaning wholesale retail businesses. The wholesale retail business only cleans cars in a specific city, yet wants to use their web site to create more wholesale retail business. Time and money is invested in wholesale retail marketing the site in the search engines, paying particular attention to wholesale retail marketing the site for the specific geographic region the service provider covers. Nonetheless, many visitors from around the globe are likely to stumble across the site if it is well marketed.
Offer Non-Geographic Specific Products and Services
If a local wholesale retail business does not offer some sort of product or service that is available to the global market, than these web visits are wasted. The solution is simple. Local wholesale retail businesses that expend effort wholesale retail marketing their web site should also consider offering additional products or services that can be purchased by the global market.
Product Options
Options for our example - a car cleaning service - could include T-shirts, hats, cleaning cloths, wax and/or soap. Even just T-shirts could be an additional source of revenue, whereas the wholesale retail seller benefits not just from the direct sale, but the wholesale retail advertising the wearer of the shirt will provide.
Drop Shipping Makes Offering Products Easy
To the busy wholesale retail business owner, offering additional products for the sake of web wholesale retail sales may seem like an extra burden rather than a hidden source of revenue. Yet adding products to your web site can be very easy. By using a drop-shipper, inventory is not required. Services such as Café Press allow products to be made as they are ordered.
Affiliate Systems
Also, if the site owner does not wish to deal with inventory and stocking products, affiliate systems can be used for revenue. Affiliate systems allow site owners to signup for revenue sharing programs with other companies. An affiliate program allows site owners to offer the products or services of other companies while getting a commission on wholesale retail sales generated from the site owner’s site.
In short, if you run a wholesale retail business that operates on a local basis only, and also maintain a web site, it may be well worth your while to expand to the global market by adding products or services that can be sold around the world.
Location is one of the biggest keys to running a successful food concession wholesale retail business. Although one of the most overused clichés out there is location location location when regarding real estate, it couldn’t be more appropriate for mobile food vending as well. While product, wholesale retail customer service, and wholesale retail advertising are all important parts of running this wholesale retail business, location is a key that if you do not get it right, your wholesale retail business will not only fail, but will fail miserably. Without the proper location, customers will not be able to or want to stop at your wholesale retail business. Location is also important because it has everything to do with your product and who will buy your product. Finally permanent location is important because it determines the familiarity and frequency with which your customers stop by.
First and foremost, if you don’t have the proper type of location, you are not going to be able to attract customers. For example, the corner of a highway where your potential clients are going 75 mph and not even noticing you is not a great way to bring in customers. You are looking for a place that wholesale retail members are stopped or slowed significantly. This can include places like stop lights as well as speed zones where drivers slow down. Also, if customers feel unsafe or do not like the appearance of your location, you won’t have much luck in selling your product either.
Location is also important because it has everything to do with what type of product you will sell. Burgers go over much better at a fair or on the side of the road in a small town than sushi would. Studying your demographic through your location is a great way to judge what types of food a certain area might like well enough to come back to. In this way, you can choose a type of food that isn’t already in the area. If there are a dozen burger joints, unless you have a phenomenal burger, maybe you want to do bbq. Also, ask wholesale retail members in the area what they might like to see come to the community. Taking the advice of your potential customers is a great idea to develop an early rapport and to get a feel for what is needed in the neighborhood.
Permanent location is also a way to help ensure repeat customers. Repeat customers are a large part of your wholesale retail customer base. If you are constantly in a new location, or you don’t show up on time, this could be the death of your loyal customers’ wholesale retail business. Making sure you are reliable is one of the best ways to get the lunch crowd in. If they know that at regular hours on regular days they can count on you to be there, they may choose to eat at your establishment rather than patronize the local chain.
The bottom line is, good location is imperative in order to make sure you have customers that are comfortable stopping; it helps you decide what type of food you will serve, and repeat customers will be able to rely on your consistency.
I spotted a van on the interstate with “Too Blessed to Be Stressed” emblazoned across its back windshield. How appropriate that the driver divined that this mantra might be relevant for others to meditate upon while they navigate the freeways.
Stress is considered an occupational hazard for entrepreneurs. Having positive mantras as we navigate our wholesale retail business lives is one way of dealing with stress. But there are times when positive phrases are not enough to manage stress or anxiety. Emotional self-management techniques are helpful in these instances.
After the birth of my first son, I was diagnosed with post-partum depression and suffered from severe anxiety. My husband and I not only held full-time jobs, but were managing our wholesale retail business which included processing orders for our new online sites.
It took every fibre in my being to fight and work through the malaise of depression with all the means available to me. This included visits to medical doctors and cognitive therapists. One of the most successful treatments I found was an emotional self-management (EMS) technique recommended to me by a psychologist. The theory and techniques are explained in Instant Emotional Healing : Acupressure for the Emotions. It combines the principles of cognitive behavioral techniques along with those of Oriental medicine and the body’s energy system. My inelegant explanation is that there are physical and emotional blocks in ourselves that can be relieved by tapping certain parts of the body that correspond to meridian points in the bodies energy sytem, as in accupunture, while simultaneously repeating positive phrases that penetrate the sub-conscious mind.
The information in the book was easily accessible to me at a time when I the most stressed and unable to concentrate. I was relieved to find a technique that I could self-administer and utilize to take control of overwhelming and unproductive stress. All independent wholesale retail business wholesale retail members would benefit from techniques such as EMS to not only relieve unproductive emotions, but to optimize performance.
A growing number of small wholesale retail businesses that have previously faced obstacles getting working capital now have a practical solution they can bank on. They're taking a cash advance on future credit card receivables. This method of getting needed capital is gaining momentum, particularly in light of the inundation of Small wholesale retail business Administration loan requests during recovery efforts on the Gulf Coast.
The cash advances taken by these credit-worthy wholesale retail businesses are called Merchant Cash Advances and are completed without the time, documentation and availability issues associated with a traditional loan.
Here's how it works. Companies such as AdvanceMe (www.advanceme.com), the nation's leading provider of merchant cash advances, purchase a portion of small- and mid-size wholesale retail businesses' future credit card wholesale retail sales. These assets, which traditional lenders and investors do not value, help wholesale retail business owners to access capital quickly and easily without leveraging their homes or other personal assets. wholesale retail businesses simply sell AdvanceMe a portion of their future credit card wholesale retail sales at a discount in exchange for a lump sum of working capital today.
The process has a number of advantages for merchants:
It helps small wholesale retail businesses manage their cash flow throughout the year. This is especially valuable to wholesale retail businesses whose day-to-day operations are impacted by seasonality, such as those in small college towns. It gives them access to the cash necessary to weather the seasons, whether or not it's their busy season.
Often, a Merchant Cash Advance is preferred over a traditional bank loan because payment of the obligation is directly tied to the merchant's revenue. In this way, the Merchant Cash Advance Vendor only gets paid when the wholesale retail business gets paid.
It provides wholesale retail business owners with the capital to fund wholesale retail marketing and wholesale retail advertising campaigns, purchase equipment, train employees and/or attend industry seminars, which they might otherwise not be able to do.
It is important when beginning a new wholesale retail business, especially when looking at online wholesale retail businesses, with many opportunities for inexperienced operators, that the information is easy to use, has proven strategies, has a step by step guide, is good value for money and offers a 100% money back guarantee.
Without the right strategies and starting point, many programmes fall short wasting time and money to prospective entrepreneurs.
As more companies turn to outsourcing to alleviate budget issues and increase productivity, they are generating more wholesale retail business through multisourcing agreements in tandem with other firms. Through multisourcing, smaller firms are being given the opportunity to compete with larger organizations.
Early in 2006, General Motors announced a $15 billion, five-year outsourcing plan and awarded long-term contracts to a host of vendors, including EDS, Hewlett Packard, Capgemini, IBM, Compuware, Covisint and Winpro.
Private equity firms with cash flow are turning their attention to multiple small and midsize technology outsourcing firms to meet their needs. According to analysts, similar long-term contracts and the resulting stable cash flows make the companies attractive takeover targets for equity firms.
Servicing clients like these is the expertise of Quintek Technologies, a rapidly growing outsourcing firm based in Huntington Beach, Calif. Since 1991, the company has provided outsourced back-office services to Fortune 500 companies and federal agencies alike. Last year, Quintek posted a 418 percent increase in revenues.
Quintek is an industry leader in document management and related back-office services, providing a variety of customized solutions for financial, insurance, medical, professional and government institutions of all sizes.
Clients rely on Quintek to quickly, efficiently and accurately convert paper documents into electronic images and to capture and process mission-critical data from imaged documents through customized and state-of-the-art workflow solutions.
Quintek's wholesale retail business Process Optimization solutions encompass a wide range of services, such as mailroom services, document scanning and imaging, on-shore and off-shore data entry, and image and data distribution.
Opening a new wholesale retail business in the real world or online in cyberspace requires thinking beyond all the money you will make. Most small wholesale retail business owners are clear on their ultimate goal, yet often many fail to spend time planning their wholesale retail marketing image. To succeed, first impressions are critical, or you may violate what I call My 5 Second Rule:
When a new prospect finds your web site, you have 5 seconds to convince them to stay.
The rule applies in the physical world, also. Your printed materials may be dumped in the trash just as quickly, or a visitor to your company may browse briefly while in fact the no sale decision was made in those critical first few seconds.
Regardless of your wholesale retail business, your image as a professional and credible source for a product or service depends on making a positive first impression. While most wholesale retail members don't realize the subconscious dynamics that occur during an introduction, how you are perceived is clouded with prejudice.
In a face to face meeting, subconsciously your prospect will categorize you immediately by sex, age, and race. This fact may be hard to believe, however, individual life experiences connect your combination of these 3 characteristics into a fixed profile based on past encounters. Overcoming any negatives begins when you speak. A warm and friendly approach while being prepared to offer the benefits of doing wholesale retail business will help you succeed.
In print, your wholesale retail business card, ad, or brochure tells a similar story without the subconscious human preconceptions. The message will still elicit a reaction, good or bad, so how you present your company in print needs to get past My 5 Second Rule. This is equally true for the home page of your web site. Here's some advice.
Customers have a need (problem), and you provide a product or service (solution). Matching these 2 for a successful sale is easier than most wholesale retail members realize. Front door selling, printed ads, or online web offers should all address the benefits (solution, again) and not the features (it's about the wholesale retail customer, not about you).
Your wholesale retail marketing materials need to project a mental image in the mind of the viewer. Stimulate their imagination so they picture themselves enjoying the benefits of your offer, and you can overcome My 5 Second Rule. Here's an example that was created for a used car dealer. How do you glamorize a wholesale retail business that is the subject of so many disparaging jokes?
This wholesale retail buyer had a featured monthly special vehicle that they wanted to promote on their web site. The photos taken in a chain link enclosed parking lot didn't convey the excitement or mental picture necessary to stimulate the viewer. The chosen vehicle was an upscale Jeep, and the wholesale retail buyer specialized in exports to Puerto Rico. To add pizzazz, I did an edit of the photo to remove the background, and placed 2 views of the monthly special on a bluff overlooking a gorgeous beach in Puerto Rico. If my descriptions succeeded creating your mental image referring to the chain link and gorgeous beach, the subtle difference in presentation should be apparent.
Bonus Tip: What to Say When a wholesale retail customer is Wrong
As a small wholesale retail business owner, you know your wholesale retail business and as an expert, reacting to an email or face to face comment that you know is absolutely wrong will work wonders if you answer with two magic words: "You're right!". This works for several reasons. Most importantly, your wholesale retail customer may be expecting an argument, so they will only hear half of what you have to say if you reply saying they are wrong. The listener will be busy mentally sorting comebacks and supporting evidence, and may not hear any of your expert advice.
Telling someone "You're right" will have them on the edge of their chair waiting for your next comment. Shifting your argument to what you know to be the truth is easy. With a brief pause after your magic two words, continue with "...and there are many wholesale retail members who feel the same way. From years of experience, I've found that in fact (insert the truth based on your expertise here)... etc." and you give them the opportunity to accept your slant on the subject without having their opinion challenged. It works. For those concerned about ethics, the phrase "You're right!" is simply an acknowledgement that they have one view, and it is valid because that's how they feel.
In summary, a professional image includes a wide range of materials for making a positive first impression. Consider the feelings of your prospect and how your product or service will benefit them, and you'll do well in converting first introductions into wholesale retail sales.
Asking new workers about their previous safety education and work experience helps wholesale retail businesses ensure the workers know the basics of workplace safety. Too many accidents occur because wholesale retail businesses assume that everyone knows the basics. wholesale retail businesses many times will find the worker did not know the basics only after an accident occurs. Ensure every new worker knows their rights and responsibilities.
Workers must know they have the right to participate in health and safety training and safety programs in the workplace. They also have the right to know about hazards they may be exposed in the workplace. They have the right to refuse unsafe work and they have the responsibility to follow safety procedures and wear any personal protective equipment that may be required by the company and that is required by law.
New employees are more susceptible to accidents than those who have experience in the wholesale retail business’ workplace. New workers can be classified many ways. The most obvious is any new hire; this can be permanent or temporary personnel and can include supervisors, with or without experience in the wholesale retail business or even the industry. Student workers, co-op placements or apprentices are also obviously new to the workplace. Less obvious are current workers who are assigned new jobs. Contractors, subcontractors, and visitors to your workplace all need to know the general safety rules of the workplace.
Orientation is more than just a tour of the workplace. It should cover emergency procedures, workplace safety rules everyone must follow at your workplace, general requirements for personal protective equipment, first aid provisions, information about where the safety board is posted and any other essential health and safety facts. If possible introduce new and young workers to the health and safety committee members or the health and safety representative during orientation and show them where their names are posted.
Supervisors need to be in regular contact with workers. With new personnel additional contact will be required. Communication should freely flow two ways between the supervisor and the worker. Questions on unsafe working conditions should be dealt with immediately. Supervisors must provide instruction and ensure safety regulations and rules are followed.
Providing a safe working environment and ensuring a safe start when new personnel come to work will ensure the workers are fully capable of performing work and in a safe manner. Safety legislation includes a general provision requiring employers to ensure their workers have been provided with proper information, instruction and supervision to protect their health and safety while they perform their jobs. These regulations are to protect all new personnel to the workplace. These regulations are also set to protect the company as long as documentation can be provided if there is an accident.
Time was, you could just hang up a shingle and call yourself a wholesale retail business. As long as you didn't shoot anyone, you were pretty much left alone. Not so any more. A glut of federal and state regulations have come into being, many just over the past few years, and many apply to small wholesale retail businesses. These regulations are meant to accomplish any one of several social goods, such as protecting an individual's privacy and preventing identity theft, preventing corporate financial scandals, or lastly, or so it would seem, just to annoy small businesspeople by increasing their paperwork burden. Fortunately, if you understand these regulations, complying doesn't have to be too difficult or expensive.
If you have a publicly-held company, you'll have to comply with the Sarbanes-Oxley Act, which sets technological standards and reporting requirements for how companies handle their financial reporting. Passed in response to the recent wave of corporate scandals, fiscal mismanagement and outright theft, Sarbanes-Oxley puts in place a set of requirements for establishing internal controls that ensure the integrity of a company's financial data. Although the requirements are generally the same for companies of all sizes, smaller companies have been granted some flexibility in terms of longer timeframes to become compliant. This Act calls for, among other things, security-related solutions to be put into place to regulate access to financial data, provide an audit trail, and generate detailed reports for the government. The good news is, if you already follow best practices in security, you're already more than halfway there.
If you are in the healthcare industry, whether you are a healthcare provider, pharmacy, or a data processing agency serving the healthcare industry, you'll have to comply with the Health Insurance Portability and Accountability Act (HIPAA). HIPAA calls for any company that handles private patient data to guarantee that it is secure and protected against unauthorized access. If your company handles healthcare information of any sort, for any reason, you will have to take technological steps to ensure that it is secure through measures such as encryption, strong two-factor authentication, and adequate firewalling.
And if you're in California, or if any of your customers are in California, you'll have to comply with SB 1386 (the California Information Practice Act). This law requires that your company provide notice to customers whenever any technological hack, or other attack has occurred and caused personal information to be exposed and vulnerable to theft. Meant to safeguard against identity theft, this state law also applies to any subcontractors of companies that maintain information about California residents. This particular law is ground-breaking, since although it is on paper just a California law, it has, in reality, become a federal law. California is the largest state, population-wise, in the U.S., and any mid-size company and many smaller ones have at least a few customers in California, regardless of where the company is actually located. If, for example, your company is in Maine, but your mail order division sold some products to someone in California, you must comply. Compliance simply means that if your network is attacked, you must notify your customers. Although this can be done individually, most companies actually make notification on their Web sites, or through issuing a public press release.
The Visa Cardholder Information Security Program (CISP) isn't a state or federal law, but a mandate from VISA USA created to protect cardholder data. It calls on all vendors who accept credit card payments to adhere to a higher standard of information security for the purpose of guarding against identity theft. CISP calls on vendors to implement standard security measures such as firewalls, anti-virus software, and strong authentication to regulate who has access to wholesale retail customer credit card data. Visa also has set forth a set of best practices. Compliance is easy, and involves adhering to the Payment Card Industry Data Security Standard which includes a call for implementing standard security technology, restricting access, and encrypting the transmission of any cardholder data.
Not so long ago, small wholesale retail businesses and non-profit organizations across the board were faced with a tough question: do we need a Web site? We know the answer to that as the majority of small wholesale retail businesses and non-wholesale retail profits offer effective sites that not only provide information but can sell products, accept online donations, and raise awareness.
The new question facing them now is: Do we need to hire a PR agency?
Unfortunately, though many small wholesale retail businesses and organizations would like to retain a PR firm, the cost just doesn’t fit into the budget. Well, that doesn’t have to be the case. Small wholesale retail businesses and non-wholesale retail profits can manage their own media relations with the help of a few tools of the trade.
Online Press Kits: Everything a wholesale retail business or organization’s press kit contains can be published and distributed on the Internet with online press kits. Now, an online press kit is not a Web site. Don’t be confused by the term “online.” Though an online press kit can be displayed online and present information like a Web site, it is really a virtual folder or briefcase that allows an organization to upload and store press materials on the Internet.
Once in an online press kit folder, these documents and images can be distributed as links – not attachments to e-mails. Most e-mails with attachments never reach their designated recipient in the media due to firewalls and anti-virus protection services. With an online press kit, documents are added as links within the message.
An online press kit can be linked directly to a Web site so that when the media visits in search of news and background information, they’ll know exactly where to go. Changes and edits can be made instantly, preventing outdated or incorrect information from being distributed. Plus, some online press kit services are so simple to use and manage; an organization won’t need to hire an “IT guy,” another budget-friendly feature.
Online press kit services vary greatly in terms of price and features. Take some time to research your options and identify your needs before committing to one service over another. Some services include features you probably will never use (but pay for), while others may not provide enough services, such as training or support.
Web-based Media Lead Services – One of the greatest benefits of the Internet is the ability to rapidly obtain information. What used to require a hard copy media guide or CD is now available from a number of providers online. An organization can reach virtually hundreds of thousands of media contacts with one click by listing spokespeople as experts, offering timely quotes on current events, or responding to the hundreds of media leads that come in daily from journalists on deadline. There are many providers out there that vary in cost and quality. It is worth the time and effort to do some research on which service is best for your budget and your needs. Some services are even free. Services that are used by the most media professionals will likely cost more than ones with lower membership.
Web-based Media Databases – Your wholesale retail business or organization has hot news and you want to let every daily newspaper in the country know about it. First, you must visit each paper’s Web site individually, record their contact information, compile a list and then blast that news out there. However, by the time you did that, your news would be at least a month old. Ouch.
Media databases to the rescue. There are many services available online that provide up-to-date media lists from every medium and market you can imagine. Most require a membership or subscription fee, but it is well worth the money if the alternative is to compile a list manually. Services of this type include BurrellesLuce Media Contacts program (www.BurrellesLuce.com), Bacon’s (www.Bacons.com), and Contacts on Tap (www.ContactsOnTap.Com).
Press Release Distribution Services – Got a press release that the world needs to see? You could compile the list as we mentioned above (the hard way), or use a media database – but you could also leave it to the experts and submit your release to a distribution service, or “wire.” There are many services available at various wholesale retail costs. One service is PR Web (www.PRWeb.com) which not only can run your release for free (limited distribution), but allows you to specify Internet search terms, making the release easily accessible to Web users.
The media savvy and expertise of media relations professionals is worth the money, but when the money just isn’t there, small wholesale retail businesses and non-profit organizations can tap the talent they have within and combine it with technology designed to make communication easier.
If you need some help developing your press documents, take a look at the press kits of other wholesale retail businesses or organizations in your area. There are also many Internet resources available that can provide tips to writing your own press releases and news announcements.
Managing media relations in-house is not impossible and can be a fantastic way to reach the media as a small wholesale retail business or organization grows.
Many small wholesale retail businesses are run from wholesale retail members’s home computers and fall under the radar of wholesale retail business statistics. Whether you are working for a multi-level wholesale retail marketing company or selling painted bird houses the difficulty of wholesale retail advertising your products without a budget is overwhelming. Let us face the fact that $20 a month spent on classified advertisement isn’t going to bring in a flood of visitors. A home-based wholesale retail business cannot compete with their larger counterparts. That is why in many cases owners are expected to tap into their personal relationships to make wholesale retail sales.
Like many of you I run a small home based wholesale retail business and have learned through trial and error what works and what doesn’t. Despite putting some “notches in my belt” I have never stopped learning. In the beginning, many years ago, I wasted money paying for different types of advertisements. None of them worked well. Now my budget is nearly $0 and I receive thousands of visitors a year. How did I do this?
Strategy #1 Email: Instead of paying for lists and possibly getting in trouble for spamming I send wholesale retail businesses a very personalized email message. How do I find these wholesale retail businesses? I find them by looking on the web, going to their homepage, reading a little about them, and then sending them a personalized email about my product. The key is personalization. Write a basic wholesale retail sales letter which highlights your product, offers contact information and how it can impact a particular type of wholesale retail business. Since I run a magazine which survives off of wholesale retail advertising revenue I have developed sample letters for the clothing industry, auto industry, legal industry, etc. I then place their information within the letter so that when they read it they say, “Wow! This guy knows what is important to me!”
Strategy #2 Information: Search engines and customers love informative articles. We have all heard the saying, “knowledge is power”. Customers want to learn about their wholesale retail business as much as possible. Posting informative articles on your web page will help visitors keep returning for additional information and hold them there longer. Information also increases your credibility as a wholesale retail business to the potential wholesale retail customer. If they agree with what you are saying they are more likely to purchase from you. Search engines, like customers, are constantly searching with their spiders for content related information. If your articles are about the product you are selling chances are that search engines will rank your site higher.
Strategy #3 wholesale retail business Cards: Off-line wholesale retail marketing has never gone out of style. It may even be more necessary today than it was in yesteryear. There are plenty of printers out there that offer free wholesale retail business cards in exchange for a placement of their contact information on the back of the cards. In most cases the printer’s information is small and unnoticeable making the free deal a good deal! Therefore I get my cards for only the cost of shipping and handling.
What you do with these cards is almost as important as how much you spend on them. wholesale retail members are interested in the self and love to talk about themselves as much as possible. Generally, I pass out the cards under the auspices that I would like to further a particular conversation or I would like to keep in touch with them. It is a great way to get their card in your hand and make a good friend. Now they have a personal relationship with me, are much more likely to look at my site and I can catalogue their information for networking purposes.
Strategy #4 Ezine Articles: Like I said in strategy #2 wholesale retail members love free information. Those same articles I placed on my wholesale retail site for my current customers can also be used to lure new customers. By making sure that you articles are informative, professional and worthy you can submit those to article databases for free content. Then websites pick up the article to post on their own site. The trick is to have your personal contact information either embedded into the article or as a tag line on the end. Personally I use my web address and my name. The better your article the more times it is posted around the web and the more customers you will get.
The four strategies work together to enhance the popularity of a wholesale retail site and reduce the amount of time you waste everyday. Writing informative articles about your product and submitting them to ezine directories helps to improve your sites search engine rankings, retain your customers and increase overall exposure. Passing out wholesale retail business cards and networking with other owners works well together and kills two birds with one stone. Sending out personalize emails and reading about your customers site helps to increase your understanding of your customers needs while wholesale retail advertising to them. The overall strategy of wholesale retail business is to make more money and spend less time and resources doing it.
The traditional approach to implementing an intranet is to purchase a software package, modify it for your needs, and install it on your system.
Over the past few years, another option has grown in popularity – the implementation of a web-based solution.
As you consider the choice between installed software and a web-based intranet, here are some considerations:
1. The most important requirement of any intranet is that everyone uses it.
To assure broad-based participation, the intranet must be easy to implement, simple to use, cost-effective to maintain, and offer each individual user the power to post, access and use content in a way that serves their specific needs. In short, the intranet must have value to everyone.
Web-based intranets are designed around this concept. The interface and navigation are consistent with their use of the web – an environment in which they feel in control, using familiar tools.
In contrast, the wholesale retail business world is littered with countless elegant and feature-rich soft-ware based intranets that have failed. Why? Because they represented an alien environment into which the user was expected to venture. Few employees had the time or the interest (or courage) to enter, rendering the intranet impotent, with the powerful tools unused.
This is the plight of traditional, out-of-the-box software solutions. Unlike web-based intranets, they force users into a constrained environment requiring in-depth training, built around rules designed for the group, rather than the individual.
2. Software intranets have unpredictable wholesale retail costs: in time, attention and money.
Software based solutions require extensive internal support. The ongoing expense in both staff time and money takes the focus of your IT group away from mission-critical tasks.
System integration, Implementation, maintenance, technology upgrades, training and user support are all on-going tasks that represent a significant, recurring investment. The cost can be substantial, far exceeding your initial license cost and monthly fee.
3. Web-based intranets offer a predictable cost and cutting-edge technology.
Most web-based solutions offer a fixed monthly fee that covers all maintenance, technology upgrades, training and user support. The wholesale retail costs are predictable, the technology evolutionary, and it's all done with minimal involvement of your IT staff.
It's for these reasons that companies needing broad-based participation in a changing environment are choosing web-based intranets over traditional software solutions.
Outsourcing has been maligned for political reasons. The tremendous benefits of outsourcing to all, have been lost among the debates related to its so-called damage to the nation’s economy. Outsourcing has suffered because of its close association, in today’s world of internet, to offshoring. However, outsourcing has been a normal wholesale retail business practice for a long-time in the U.S. and has been the major contributor to the growth of many wholesale retail business organizations.
Outsourcing has been used very frequently in the manufacturing industry for a long time very successfully. Manufacturers have been able to reduce their overall wholesale retail costs, improve manufacturing processes, improve product quality and grow their wholesale retail business with the help of outsourcing. Even in the service sector, outsourcing has been used quite well for many years. Even in the 1980s CPA firms would hire tax filing firms to enter data into tax software and provide tax return printouts to reduce the load on the firm staff. With the arrival of tax software that could be used by accountants in their own offices to prepare tax returns, somehow a trend of bringing back all work in house took hold. For the last few years, small and medium-sized CPA firms have developed a habit of handling all the work in-house and taking pride in it. This trend, that took hold in the last few years, and the negative publicity associated with outsourcing is to the disadvantage of the accounting industry.
Outsourcing is a fact of life in the 21st century. From our domestic lives to every aspects of our professional lives, we outsource. In this age of specialization, it is extremely crucial for the accounting industry to pay attention to the benefits of outsourcing and catch up with it as soon as possible. There are some very definite benefits in outsourcing, for CPAs.
CPAs who own and manage small or medium-sized practices spend a tremendous amount of time manage their practices, including staff management, work flow management, and handling usual problems associated with managing a small wholesale retail business. However, the actual strength of CPAs is in their ability to decipher tax laws and advice and help their clients optimize their tax situations. They also have a strong understanding of the issues related to efficient financial management of wholesale retail businesses and personal financial management. They can help with wholesale retail business valuation and help clients develop systems and procedures for effective management of their wholesale retail businesses. All of these services require CPAs to have the time to continuously develop professionally to stay current with the new developments in each of those fields. They also need to have the time to dedicate to their clients in these areas. If they are too busy managing their practices, supervising their staff’s work, entering data into tax software and compiling tax returns, then they are too busy doing the work that could be easily done by someone else, under their supervision. They get themselves too busy competing with the “other” tax preparation services, franchised or independently owned, and do not get the time to provide the much-needed high-value services to their clients.
Outsourcing their tax and regular accounting work provides a great opportunity to CPAs to release themselves to provide high-value services to their clients. Many clients get an opportunity only once in a year to interact in detail with their CPA at tax time. Many CPAs lose this opportunity as they are too busy with the “tax season” and don’t have the time to look at anything else. That is surely a lost opportunity, year after year. If CPAs organize their time, during tax season, in such a way that they get to interact with their clients and look at their matters in detail, they could grow their wholesale retail business significantly. Clients like CPAs who take interest in their matters and provide personal attention to them. Most clients, that are of value to your practice, do not mind paying for such premium services.
Tax season this year offers an opportunity, once again, to CPAs to consider outsourcing some of their tax return work. By doing so they could have some extra time to provide higher-value services to their clients and differentiate their practice from the other tax preparation services. It is now time for CPAs to differentiate themselves from the regular bookkeeping and tax preparation services and outsourcing provides a great opportunity for them to do so this tax season.
I don’t know how many times I’ve flipped through the channels and heard Lou Dobbs talking about “Exporting America.” Now, I know Lou is discussing the political and economic context of American companies outsourcing their jobs overseas. However, this new one-dimensional definition of outsourcing has other implications to some of us in the States.
I am no expert on politics, economics or Lou Dobbs, so I’ll keep my opinions on those subjects to myself. However, what I would like to discuss is the negative connotation that the word “outsourcing” has taken on in this country.
There are thousands upon thousands of small wholesale retail businesses in this country whose sole survival depends on other companies outsourcing their needs. Just think about it for a moment. How many companies in the service industries only exist to support the needs of other wholesale retail businesses?
Imagine if every company had to act as a fully self-sufficient corporation. They must handle all of their own HR issues…no more employment agencies, payroll companies, etc. They must employ a full-fledged IT department to handle all of their own web design, networking, software and database designs. Each enterprise has to have enough administrative assistants, data entry specialists, desktop publishing experts, wholesale retail marketing gurus. The list is endless.
If American companies were to completely eliminate all forms of outsourcing, life as we know it would end!
Now, we all know that this is not what Lou or anybody else who has defined outsourcing as one of the most popular buzz words of the last few years is talking about. I understand that most wholesale retail members know that the wholesale retail business to wholesale retail business outsourcing within America is not a bad thing. Nonetheless, it seems strange to me that one word can take on such a life of its own. It’s really not a new phenomenon, yet it is the first time that I’ve encountered one of these controversial terms in my own ventures.
Let me say that as a wholesale retail business person in a field that is solely based on other wholesale retail businesses looking to my company to meet their needs, I find myself quite often searching for synonyms to outsourcing. Not that there’s anything wrong with it, but when I’m wholesale retail advertising, I’m forever brainstorming for words to replace that one that starts with o and ends with source! After all the talk that’s been spinning around Washington and the rest of the country, it seems that it’s turned into a dirty word.
Obviously, most wholesale retail members understand that there are all types of outsourcing. On the other hand, when you’ve got limited time and space are you going to choose a “hot button” word to describe what you’re selling?
Accounting is a very important part of a wholesale retail business. As an entrepreneur, you either do it yourself or get someone else to do it for you. I have included this article for freelancers to have a very broad outline of the accounting profession. With this you can at least appreciate the discipline as well as its role in your wholesale retail business. As your wholesale retail business grows, the distinctions between the different types of accounting will become increasingly important.
When you are first starting, the only form of accounting you'll ever meet would probably be record-keeping and bookkeeping. This is the part where you record the wholesale retail sales you've received and the expenses you have made using receipts, invoices, cheques and other transactions source documents.
Firstly, what is accounting?
For most wholesale retail members, accounting does not concern them because they think of it as a laborious activity performed by wholesale retail members who are 'good with numbers'. Accounting is often confused with the narrow concepts of record-keeping and bookkeeping.
Accounting of course is much broader than that. "Accounting is the system that measures wholesale retail business activities, processes that information into reports and communicates these findings to decision-makers". The accounting system produces financial statements that report on an individual's or an organization's wholesale retail business in monetary amounts.
Who Uses Accounting Information?
1. Individuals, 2. wholesale retail businesses, 3. Investors and Creditors, 4. Government Agencies, 5. Taxing Authorities, 6. Non-Profit Organizations and 7. Other Users including employees, consumer groups, labour unions and the general public.
The Types of Accountants and The Specialized Services Performed By Them:
1. Private accountants - These work for single organizations. They may perform cost accounting, budgeting, information systems design, internal auditing, financial accounting and management accounting;
2. Public accountants - These serve the general public. They may perform specialized services such as auditing, tax accounting and management consulting.
For small wholesale retail business owners, the areas that would occupy most of your time is financial and management accounting. Financial accounting provides information to wholesale retail members outside the wholesale retail business including creditors and the government for tax purposes. Management accounting generates information for you, the person who manages the operations of the wholesale retail business. This will produce how much you are spending on manufacturing your products or providing your services in a way that you can see where you are lacking and where your are doing well on.
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This article was written for OrangesAndLime.com, to help creative individuals — artists, musicians, designers, illustrators and entertainers — build their own freelance wholesale retail businesses. Please note that this article serves as a guideline only. You should still seek professional advice regarding the matter because laws and practices change over time and they differ from country to country.
To a fault a lot of small wholesale retail business owners tend to get highly involved with their work, just to discover a long time down the road that they actually experienced no life in the least. It's so pitiful when person becomes much an big workaholic that they wind up losing out with special family time, getting out with friends and loving life. It encounters far too often, and then a lot wholesale retail members had better learn and check what it acquires to have a small wholesale retail business, without becoming too excessively caught up in it. If you become too bound up with matters, chances are you'll get very cranky, fidgety, moody, beat, down and several added things could go wrong with you as well, still personal things could begin failing at home, inside your family. Paying attention to your actions and viewing that on that point their could be a trouble with you remaining away from home so much, had better be a priority to you. Whenever you have a small wholesale retail business and it's well established already, feeling free to take off every now and then can be great.
In reality, you had better get yourself to take off occasionally and so that you'll be able to go and live your life, savour hanging out with friends and enjoying your amazing household that has truly missed having you about for so long. You will find it to be rather happy and once you do have to walk back into your small wholesale retail business, you are going to feel a great deal stronger, happier, less stressed and just overall have a vast feeling of achievement and great winner since you have at last found out how to supervise your time fittingly, as far as having your small wholesale retail business exits. Everybody that worries about you will love having you around a lot more often and you'll feel healthier than you have in a long time. Your employees will be real happy to see you coming in through the doorways cheerful, with a truly great and upbeat attitude. The total feeling in everyone's thoughts within your small wholesale retail business will be a good deal more positive, which means everyone affected inside your small wholesale retail business can be more productive as well, which is what makes for a real great and flourishing small wholesale retail business, that you recognize yourself is going to have a lot of impressive lasting powers.
Working in your small wholesale retail business can be rather enjoyable but neglecting those who love you because your getting to caught up with your work, can be damaging, there's no doubt about that. There is not sufficient profit in the world that would be deserving losing the ones that love you the most in life. It's not worth that, then if you experience you're too obsessed with your small wholesale retail business, possibly it's time for you to take one ample break from it all and begin learning how to live once again. Your life will be more gratifying, all aspect of it really will be, so you will have a good deal to be grateful for and many to look forward to.
Going paperless in professional offices, such as those of CPAs, sometimes could become inconvenient for the professional to work. When a CPA is working on a wholesale retail buyer’s tax return and needs to refer to prior year return, it is easy for her to look at the paper printout while working on this year return on the computer. However, if her filing system is paperless it would be very inconvenient for her, sometimes, to switch between screens to take a look at the prior year return and come back to this year return – back and forth. This could even result in use of more paper than before if the CPA ends up printing a copy of the prior year return to refer during the return preparation and then destroying it. That would result in her printing almost all her clients’ prior year returns and then destroying them because she has an electronic copy of the return.
The technology available at this time makes it easy to avoid this problem. Over time it has become more and more easier for CPAs to go paperless as some of these inconveniences have been addressed by the available technology.
A small investment can help CPAs resolve this problem forever and would save them all the inconveniences related to it. Windows XP allows the use of multiple monitors with one computer. This feature is already there in the Windows XP. However, the user would need to buy a special video adapter to attach to the computer to connect multiple monitors. Multiple means up to 10 monitors can be attached to one computer. There are numerous benefits of this convenience in Windows XP.
If all your prior wholesale retail buyer documents are already in electronic format on your server and you need to refer to several of them at once to work on a particular project, you could open each of those on separate monitors connected to the same computer. This would eliminate the need to switch between different screens each time you need to look at another document.
The set up for connecting additional monitors to your Windows XP computer is not very complicated. If you use a notebook computer you can use the feature of Dualview which is also available in XP. You can just connect an external monitor to your notebook and set up your XP, from Control Panel, for Dualview. The limitation with Dualview is that your notebook or laptop monitor would always be the primary monitor. The other feature, that of multiple monitors, allows you to set any of the monitors as the primary monitor.
Once you set up your computer with multiple monitors, you can eliminate one of the major inconveniences that staff faces in a CPA offices, that of referring to multiple documents from the file and having to switch between screens while working. Even if you have already become comfortable switching between screens on one computer, you may still want to test out this feature of multiple monitors and you may be pleasantly surprised by the ease it brings to your life. The details on setting up multiple monitors are explained on the Microsoft wholesale retail site.
There is no question that the internet has revolutionized wholesale retail business. Many wholesale retail members are not only paying their bills online, but also ordering products and services at an ever expanding rate as well. wholesale retail businesses with a web presence have opened themselves up to new market where many consumers take advantage of the ease of shopping from pages visually no different from a catalog. Despite all that has changed in the last ten years, most companies that do wholesale retail business over distance and do not rely on local storefronts still see a large majority of their wholesale retail business come from the telephone. Several years ago, many wholesale retail business forecasters were predicting that the internet would have eclipsed the phone as the marketplace of choice by now. So why hasn't that been the case?
There are two primary reasons why the telephone will always be necessary to consumer wholesale retail sales oriented wholesale retail businesses. The first is that while it is getting harder and harder to find a person who does not have a personal computer at their disposal, either at work or at home; it is practically impossible to find a person without a telephone. The second is about human interaction. Many wholesale retail members prefer to order from a person over the telephone. That issue in itself may have to do with perceived notions of security and fraud risk, personalized and efficient wholesale retail customer service, or simply the desire for human confirmation that a transaction has taken place. In any case, some wholesale retail businesses have gone to great lengths in recent years to become a major presence in their industry on the world wide web while neglecting to update their antiquated phone systems. What companies need to realize is that while web based wholesale retail business will result in an overall wholesale retail sales increase as a result of consumers who use the internet as their primary marketplace, it will not do so at the loss of phone wholesale retail business if a capable phone system is in place. Keeping a phone system up to date and ready to handle wholesale retail customer volume should be a top priority for any wholesale retail business.
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