Using Your Business Plan To Start Your New Business

Your company needs a good plan in order to hit the ground running. Most businesses will fail within their first year of operation. This is largely due to poor planning on the part of the owner. Proper business planning will allow your company to market a quality product to those who want it the most.

Write Out A Formal Plan

Every business owner should write out a formal plan for how the business is going to be run. This will help you visualize every possible variable that could impact the company. Figure out who your target market is, how you will market to them and how much everything is going to cost. Knowing all of these variables ahead of time allows you to adjust your plan should anything change.

Line Up Financing

The next step is actually getting the money to run your business. You have many options available to you at this point. The most likely source of funding for any new company will come in the form of a personal loan. New companies may also get funding from friends and family. Venture capital may also be an option for some new companies. However, funding the company using a personal loan allows you to retain more control over your company.

Set Up Your Marketing Presence

Get started with your marketing efforts before the company actually opens its doors. This will allow your business to have a following online, some buzz in the community and will allow for pre-ordering of your products. Having orders lined up before you start production can help offset the cost of filling larger orders.

Not having the ability to produce large orders for customers can hold your company back in many ways. Your customers should be willing to pay upfront if the product is attractive enough. Getting your customers to pay upfront allows you to avoid searching for more loans to help produce the orders. Avoiding loans helps your company keep more of the profit from the sale.

Will You Hire Staff To Help You

There are many things you have to consider besides selling products. You have to worry about payroll, staffing and taxes. Will you hire people to help you do that? Most small businesses don’t have the money to do that. However, there are many great software programs that can help you. Hiring independent contractors to help you operate your company may be a good idea as well. They don’t cost as much as regular employees. They can also be sent packing whenever you want. It offers cost flexibility that your small business is going to need.

All business owners should take their time planning out their business. There is so much to think about before actually opening your doors for business. Marketing, sales and accounting methods need to be thought of ahead of time. No business is going to succeed if it is not properly managed. Knowing what you are up against ahead of time also allows your company to adjust should the market change.

Driving Traffic to Your Website to Grow Your MLM Business (Part I)

I have already mentioned in another article how depending on your warm market to grow your MLM or network marketing business is a recipe for failure. How then, do you create a non-stop flood of targeted leads? In other words, how do you drive traffic to your website?

Let’s talk about a “traditional” business. What do they do to generate publicity for themselves, and therefore generate customers? They MARKET their business. Notice anything? Network MARKETERS. MARKET a business. See the connection? You are still marketing your business to drive traffic to your site and generate income; the difference is in the business model. Marketing strategies of a traditional business are the very same strategies that network marketers use to create website traffic, or if they aren’t using them, they SHOULD be. They are:

· Build a website (which includes the components of an automated marketing system as well as a call to action, otherwise it is just a very expensive image ad)

· Try to get their business written up in the press

· Advertise to drive traffic to your website and generate customers (reps in your downline)

There are many different forms of advertising that enable you to drive traffic to your site and generate a flood of pre-qualified leads for your network marketing business. Here is a partial list:

· PPC (Pay per click)

· SEO (Search engine optimization)

· Email marketing

· Blog/Write articles

· Video marketing

· Press releases

In this post we are going to focus on PPC advertising.

What is Pay Per Click (PPC)?

Pay-Per-Click (PPC) is an advertising method which makes use of search engines, websites and network traffic. A user clicks on an ad which directs, or drives, them to a particular site. Each click is paid for by the advertiser (YOU).

PPC is based on a bidding process where the advertising party (YOU) bids on a keyword or string of unique keywords. Competitive keywords are more pricey. However, with good keyword research you can find keywords as cheap as $0.01 per click. Google AdSense is the largest network to advertise via PPC, and they have an excellent keyword tool for you to research your keywords and keyword phrases before you bid on them.

Advantages of PPC

There are many advantages to PPC advertising:

· Fast and easy. PPC creates instant traffic to your site. You can set up your account, create an ad and get it online within a day.

· Top position easily achieved on a search engine if you are willing to outbid your competitors.

· Complete control over advertising campaign. You set the daily advertising budget according to what you can afford (as little as $5/day), in what geographical regions the ad will run, you can even adjust your budget to be more or less on certain days depending on daily response results.

· No limit to the keywords and keyword phrases you can use to advertise your network marketing business or affiliate product.

· Results are easily tracked and measured. Statistics gathered enable you to keep track of the exact cost per customer acquisition, determine which keywords perform best, etc.

· No commitment necessary. You can run your ads for as long or as short a period of time as you want, from just days to many months. You decide.

Disadvantages of PPC

What are the downsides to PPC?

· It costs money. Why do I list this as a disadvantage? It’s obvious it costs money, “pay” is right in the name of the advertising method! Well, in any business, low operating costs is always a primary goal, and there are free methods for advertising your network marketing business, so I felt it was appropriate to note this as a disadvantage. If you have the money, it is highly effective! If you are operating on a tight budget, however, this is something to consider when developing your network marketing ad campaigns.

· People are skeptical of advertising and therefore tend to ignore sponsored (PPC) ads. Various studies have shown that only 15-20% of small businesses actually get a good return on investment (ROI) and recoup their PPC advertising costs.

To Use or Not to Use PPC

My thoughts on PPC: If you track your statistics closely and optimize your advertising dollars spent, this is an effective part of a multi-faceted marketing campaign. Do not depend on it as your sole source of revenue, just as I have advised you not to depend exclusively on your warm market to build your network marketing business. Also, design your ads so that they are aligned with valuable information on your site. Don’t try to convert visitors into customers (or in your case, representatives in your downline) in one step. Nurture the relationship with your prospects through providing valuable content that is of benefit to them, and lead them down the path to where they are clamoring to become a part of your network marketing business, not you begging them to do so.

In part II, we will discuss SEO as a method for driving traffic to your website.

How Serviced Offices Can Make Doing Business Affordable

For many businesses the cost of acquiring these services and facilities is simply too much for them. Instead, they may have to compromise on what they can offer which could hinder them as they look to get ahead in the market place. The good news however is that Serviced Offices offer analternative that makes it feasible for smaller businesses to afford a prestigious Office Address. This means that if you are operating a small business that has limited resources, you no longer need to go without what you need to be able to operate effectively.

By offering pools of staff that more than one company is able to utilise, serviced offices are able to offer their services at affordable rates. The buildings used are nearly always occupied by more than one business and the various facilities are shared by all businesses within the building. Sharing costs in this way helps keep costs down and means real savings for your business. The same goes for the actual premises as by pooling together their resources, a number of businesses are able to use serviced offices that are very comfortable and large enough to offer the space and functionality that is required. Some offices will even have gyms and spas for use by tenants, which are things that many businesses could not even consider being able to afford otherwise.

Of course, although they are sharing varying services and premises, each business would wish to remain separate from the rest. Individual rooms and sections within the premises are not shared as every business is allocated its own space. The beauty of this approach is that you get more top grade professional facilities and a much better standard of office than you could otherwise afford.

In addition you will get an Office address in a prestigious CBD which cannot fail to look good on your company website, literature, business cards, stationary and of course word of mouth.

That very important first meeting can make na big impression if you open your introduction with a prestigious office address in the correct location right in the heart of the business sector or CBD.

In the past, having the very best of facilities, premises and staff was something restricted to companies with a large pool of resources at their disposal, but this is now a thing of the past. Thanks to the flexibility of Serviced Offices the smallest of businesses are able to have the very best of business facilities available to them at affordable rates.