6/25/08
Good news! There are many options for doing good in the world which will actually earn you a great living at the same time! The fields of public policy-making, disability, education, environment, health and many others are ripe with opportunities and best of all, great learning experiences to build a solid base to launch your own “good-deed-doing-while-making-profit” endeavors!
No matter how much money you make, if you are merely in a hollow existence, doing a job that means nothing to you and cashing a check, the day will come (at least I hope so) that you will have a moment of clarity, much as the alcoholic or drug addict has at their bottom, where you can take a brutally honest assessment and realize that there is so much more to life than generating a buck.
The key is to find something you are truly passionate about and to get involved in that field. If you can’t afford to make a dramatic jump all at once, try volunteering a bit here and there and start gaining knowledge and be willing to build slowly. Eventually as you get to know more about your field of interest and make good contacts, more opportunities will avail themselves to you and at some point you will start finding ways to support yourself and ultimately branch out on your own if that is your desire.
I do realize that I’m writing in somewhat ambiguous terms here, but this is because there are so many paths to take that it would be impossible to chronicle them all here. You could become a social worker, a missionary for a church, join a group of global warming nuts, or start by interning for a company that shares your values, just to name a few.
Once you have built yourself up, learned your field and have the contacts to move forward with building your own organization, you will want to have some solid plans in place for raising money, strategy development and team building so that you have a solid base of experienced advisors and supporters to turn to.
There are many great resources which support “Social Entrepreneurialism.” I have listed just a few of them below:
* Skoll Center for Social Entrepreneurship http://www.skillfoundation.org
* Schwab Foundation for Social Entrepreneurs http://www.schwabfound.org
* Echoing Green http://www.echoinggreen.org (for you tree-hugging hippies with dirty feet and hairy armpits)
* Ashoka http://www.ashoka.org
For a list of community foundations by state visit the Chronicle of Philanthropy http://www.philanthropy.com
For a list of 850,000 citizen organizations visit GuideStar http://www.guidestar.org
* IdeaList - http://www.idealist.org
* Nonprofit Career Network http://www.nonprofitcareer.com (BTW - nonprofit doesn’t mean “YOU” don’t make any money. It means that the organization itself cannot show a profit at the end of the fiscal year. This is usually easily accomplished by either spending excess funds, donating them to a cause or dividing them up and distributing them to board members and staff in the form of year-end bonuses. Remember this next time someone whines to you about how they can’t pay you a proper wage for services because they are a “nonprofit.” It’s total B.S.!).
Now go get your goody two shoes moving!
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If you liked this article, buy me an acre of rainforest so I can clear-cut it !
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June 25 2008 | Making Money and Your Business and Giving | No Comments »
6/19/08
Most things in life just get more expensive as time goes by. Some things get RIDICULOUSLY more expensive seemingly by the minute! The two immediate things that come to most people’s minds would be gasoline and college tuition.
I’m not much for jumping on band wagons and gas is the hot topic right now, so instead I am going to take a closer look at something called the Independent 529 Savings Plan which purports to allow you to prepay for tomorrow’s college at today’s tuition rate!
Sounds almost too good to be true huh? Not entirely. Take into account that one of the ways Southwest Airlines became a major contender in the airfare wars was by pre-purchasing their fuel for several years out, thus locking in a much lower cost than their competitors despite how high the expense to the rest of the world rose. (whoops, did I just revert the topic back to fuel in the course of two sentences?) Same theory here.
The Independent 529 Savings Plan acts as a contract allowing one to prepay future tuition costs at current prices and do it tax-free, but one must choose a college which is a member of this system (currently around 250 colleges nationwide consisting mainly of independent, smaller schools).
Why Some Colleges Offer The Independent 529 Savings Plan
Q: Why in the world would a school sell out its future higher tuition income at today’s rates?
A: There is a lot of pressure on institutions to provide financial aid. Some independent college budgets rely up to 90 percent just on tuition alone. This is a way for them to hedge against future income uncertainty and ensure they will have students and cash flow for the years ahead while gouging the Johnny-come-latelys to make up the difference.
Contribution Limits
The contribution limits to the plan are calculated to cover five years at the most expensive participating school at the time of entering the plan.
Eligibility
I have seen some websites claiming there are no eligibility requirements and others claiming a residency requirement for some participating schools. There are some factors which could depend upon which school you are choosing. As far as income limits, there are none for this program.
The Downsides of the Independent 529 Savings Plan:
- You Must Choose A Participating School
- Limited Number of States Which Offer Them
- Some States Have A Residency Requirement
- Some States Don’t Fully Insure The Program (if the program runs into financial trouble, you could have a nightmare on your hands)
- The Older The Kid - The Higher The Buy-In Cost
For more information, you should visit http://www.independent529plan.org , but also do further research online to get even more of a wide-spectrum of opinions regarding the pros and cons of this plan. The website for the plan pretty much presents itself as a sales tool to get you to buy into it and does not seem to be much of a neutral source of information, so be careful out there kids, THAT’S YOUR FUTURE YOU’RE PLAYING WITH!
Please share your thoughts via the COMMENTS section below!
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If you liked this article, buy me a frame for my G.E.D. !
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June 19 2008 | Saving Money and Home Matters and Children and Family and Education and Protection | No Comments »
6/11/08
Think you need to buy expensive television, radio, print ad and billboard space to get the word out about your business? Think again!
There has never been a better marketing climate than right now for those with tight, even non-existent budgets for beating their business’ drum and shouting their wares to the world! Whether you are a penniless pavement pounder or an executive looking to trim costs, the following tips may help!
Word of Mouth
Having a great product or service is the best way of turning your existing customers into your most enthusiastic sales megaphone. They’ll tell two friends and they’ll tell two friends…
Make The Calls!
The telephone is undoubtedly the singlemost powerful weapon in your marketing arsenal! What other tool of business enables you to enter a set of numbers and physically have a person-to-person conversation with just about anyone on the planet!?
Research carefully and know the types of people and businesses who are most likely to have a need for your brand and learn as much about them as possible before making the call. Try to find a website for the prospect. You’d be amazed at the information you can find from decision-makers to current and upcoming projects, or you may be able to disqualify them altogether saving your time and respecting theirs if you are not a fit for one another.
Online Social Networking
It’s not just for MySpacers and Facebookers anymore! There are more social networking sites these days than there are chins in a Chinese phonebook! There are more than a few sites dedicated to putting sellers and buyers together and also networking complimentary businesses together (like LinkedIn ). If you’re not networking online, you can bet your competitors are!
Industry Specific Gatherings
Some Industry Mixers can cost around $50 to get into, but that’s really a very small price to pay to rub shoulders, present yourself and start relationships with those in your industry whom you may be able to help and vice-versa. Plus there’s usually great food and an open bar! careful now…
Targeted Email Campaigns
Use this very sparingly and only with those you have had previous contact with. You do not want to become identified as a spammer! If you have a particular product or service that is new, or just wish to remind your contacts of who you are and what you do, an occasional email blast is perfectly acceptable as long as it is just once in a while.
P.S. USE BCC FOR ALL ADDRESSES YOU SEND TO! It stands for “blind carbon copy” and prevents your recipients from having their addresses exposed to everyone else who receives your email.
Free Classifieds
Posting your goods and services on websites such as Craigslist and possibly online bulletin boards more specific to your local area (in Southern California, I advertise a lot on Recycler.com) is a free and often very effective way for people to learn about your offerings!
Be Accessible
Answer your phone as much as possible. People often have an aversion to leaving a message. Also, answer emails in a timely manner and make it obvious that you do hold the relationships with your prospects and clients in the utmost regard.
Start A Blog / Do A Podcast
Writing and broadcasting about a certain subject can often lend credibility towards one being an expert in their field which can translate into greater interest in what you have to offer. Blogging and Podcasting are two very inexpensive, practically free methods of doing just that!
Volunteer
Giving of yourself is a great way to get out and meet a lot of people and put yourself in a very positive light. People like to do business with people who are genuinely kind and generous and will often pay more to do business with people they actually like rather than someone emitting a lackluster vibe and collecting their money.
Distribute Your Business Cards
Business cards are dirt cheap, so why not put them out in the world anywhere and everywhere you go and let them do the voodoo that they do so well, which is sell you to whomever lays eyes upon them!
There are a few websites that give away free business cards in quantities of about 250 and you just pay for shipping and “handling” (about five bucks on the low end). My personal favorite is http://www.vistaprint.com where you get dozens of free templates to choose from, can design your card right there online.
Car Signage
If you’re going to drive around anyway, why not get some magnet ads to display on the back and sides of your car? They can be very inexpensive if you shop around and may just end up paying for themselves!
I would love to know how you “MARKET ON A DIME.” Please share your strategies and thoughts via the comments section below!
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If you liked this article, buy me an ad campaign!
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June 12 2008 | Saving Money and Making Money and Your Business and Promoting Yourself | No Comments »
6/4/08
Mark Twain once said, “ to be successful, find out where people are going…and get there first.” I can think of no other philosophy which could be more true regardless of any economic state.
If one waits for a trend to arrive before positioning themselves, odds are they will be far too late to the party to realize much benefit. Many times this can mean taking a business position which many will proclaim you crazy for!
In extremely strong economic times, this can mean building a position for your business that will be able to take strong advantage in tough times. Think about what goods and services people purchase when they are out of work or just short on cash.
People will obviously be cooking at home (think pasta and other starches), entertaining at home rather than watching movies and attending concerts (think video rentals, microwave popcorn, budget televisions), discount clothing and yes, people will be drinking heavily!
In tough economic times, since people are purchasing discount items such as clothes, and cheap craptastic houseware, try to also think about where most of these items come from and how they may get to the people that purchase them.
When you think craptastic, you will probably want to think Southeast Asia and China in particularly. Anticipating a downturned economy, one may wish to start a business in importing and distributing goods from such a place. Maybe opening a discount store or merely having your own goods produced in a place such as Southeast Asia.
You may also wish to consider offering services which people in tough times will require.
In downturned times, often those with families will find the need to have both heads of the household working full-time jobs. Think babysitting and childcare services, employment-finding services, quick family meal delivery services (with both mom and dad working, who has time to cook?), home cleaning services, landscaping services (mowing lawns and trimming trees).
Also, people may not be doing home improvement projects, but you can bet they will still be in need of auto and home repairs and perhaps tackling jobs themselves that they may not be fully qualified to do! If you have a particular field of expertise, think about perhaps offering a help line where people could pay to get advice or even be talked through a project (consulting) and when they still are finding themselves in too deep, you can offer the proper repair services to bail them out.
Of course, since the current economic times are lean, some of these ideas may not actually be good ones for right now because you want to start establishing your business so that you are properly positioned at the optimal time.
In a lean time, you may wish to think about establishing a business for a luxury market (travel, entertainment, caviar, etc.) so that when times improve, you are positioned in the right place at the right time.
Of course, there are other business models which are recession-proof and apply in all economic times for goods and services people always need. Most of the time, these businesses do not always provide the greatest profit margins, but they also do not suffer the risks associated with swings in the marketplace. Safe positions can often provide good stability, but for the greatest profits, one must usually assume a greater amount of risk. This is where having multiple streams of revenue, and different types of businesses can often be the best strategy overall.
If you have ever watched Mad Money with Jim Cramer, you will have seen a game played called “Am I Diversified?” where people call in with their stock portfolios and Jim tells them if they have spread out their exposure properly enough to have mitigated their risk as best as possible. Well, you don’t have to own stocks to be diversified in your business positions and assett holdings. It works equally as well for the small business person with a few different business, or simply spreading your savings around to different accounts (should one be hacked and robbed), or perhaps just having a few different part-time jobs instead of one main job so that if you lose or quit one, you are not completely in the dumps.
Taking It Personally -
As for me, I make my main living as an entertainer, but I offer different options and services for budgets and needs of all types which is how I have diversified my main business. I am also trying to build this blog up to generate another entirely different revenue stream (5 months in and haven’t seen dollar one yet except for a small writing job I landed as a result of having a blog for the client to read my writing style at). I do have my eye out for other businesses all the time and will likely see myself in something new and exciting shortly.
I do have a sickness in that I really can only do jobs that I actually enjoy. Fortunately, I have found that people will often excel at things they enjoy, so the best thought I can leave you with is to think a business through before leaping, but also make sure it is something you really enjoy - otherwise what’s the point?
As I write this, I am gazing out a train window rolling through the Scottish countryside whilst on a leisurely vacation in Europe where the dollar is only worth about half what it is in the States. The cows are called “coos” and every building is an ancient castle. Bye for now, I have a window to stare out of! Please share your thoughts via the comments section below!
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If you liked this article, buy me a flower !
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June 04 2008 | Blatherings and Making Money and Your Business | No Comments »
6/4/08
This article was originally posted in March of 2008. I had to delete it and repost because there was an error in the formatting which caused the presentation of this entire website to go all bonky (in case you have been wondering what has been up with the look of this site lately). It took me a while to track down the cause, but I finally found it. Thanks for reading! I just got back from vacation, so I’ll be posting more vigorously now and doing my best to build and make this a forum for exchanging success ideas.
Getting canned from my job was the best thing that has ever happened to me! Fortunately, I already knew that working my butt off to help someone else get rich was not what I wanted to do with my life, so I had been spending most of my time away from the job (and secretly while on the job which now that I think of it may have been a major part of why I got canned…) building up my own business.
I had gotten things with my own business to the point where it was already generating some income, so I did a bit of math and figured out that the amount of time I was spending on my own business and the revenue it generated, if taking into account the additional time I would have to spend on it should I lose my job, would actually be enough to survive on.
Luckily, when I got “downsized” I received a few weeks severance pay along with vacation and sick pay along with the ability to collect unemployment, and actually walked out of there in a very good position. I collected unemployment for 6 months while I better-established my business and although I was offered an extension of the unemployment benefits at the end of that 6 months, was actually doing well enough to where I was able to forego the extension and stand squarely on my own two feet.
It took a lot of hustle and long hours (and still does), but I have never regretted leaving the rat race and being my own boss no matter how hard being in business for myself may get sometimes.
In this article, I share some ideas and tips designed to help those of you who may be in business for yourself or considering making the leap (do it!). If you have any ideas you would like to share, please do so in the comments section at the end!
Work The Phones!
Know the types of companies that are most likely to use the types of services or products you offer and call them up. Ask for the name of the person in charge of making the decisions for whatever it is that you do, ask to be transferred to them and don’t waste time with the non decision-making people who may answer the phone. If the person answering is attempting to block your access (gatekeeper), if you have at least gotten the name of the decision-maker, you can always call back another time and just ask directly for that person with authority in your voice. You’d be amazed at how well this works. Just be sure to target your efforts to companies which are most likely to need what you do. You will waste a lot of time randomly calling through the phone book. Don’t do it! Mama said “Work smart not hard!”
Be A Subcontractor!
Find other providers in your field which may do a larger volume of business than you and see if they may need someone to subcontract work to when they have more than they can handle.
Offer Rewards For Referrals!
Offer a 5 percent commission for any referral which leads to new business for you and a 10 percent commission if the referrer actually facilitates the closing of the deal!
Network With Complimentary Businesses!
Stay in contact with providers who offer goods and services which may be complimentary to yours (i.e. a florist may want to be close with photographers and wedding coordinators). Strike relationships where you can refer work to one another and favor those who send work to “you” obviously!
Post Your Services On Online Bulletin Boards! (and real ones too!)
Free sites such as Craigslist and even some sites which charge a nominal fee for posting, if the appropriate traffic is high enough, can definitely be worthwhile to place postings on.
Establish Yourself As An Expert
* Offer to speak at networking events related to your field.
* Submit articles to your industry’s well-read publications and blogs and consider starting your own industry blog.
Pimp Your Promotion And Start A Commotion!
* Get a magnetic sign for your car
* Purchase advertising in places your target clients are likely to be viewing.
* Go to trade shows for your industry and Network! Network! Network! (Don’t forget your business cards!)
* Join your area’s Chamber of Commerce and be an active member. It adds legitimacy to your business which you can use as a selling point (”respected member of the Mayberry C.O.C.”).
Stay In Touch !
Just because someone may not have a need for your offerings at this time or may have been a client and then stopped having a need for what you do, does not mean they may not have a need in the future. Hold onto that contact information and give a call once every 6 months or so to see how things are going. I personally re-churn my dead contacts list once every 6 months and have never failed to drum up new business from doing so!
Pass the Testimonials!
When you have successfully completed a job for a client and have a happy customer on your hands, don’t be shy about asking them to write a few words about your business which you can place on your website and in your print promotions, and offer to include their company information for cross-promotional purposes. Most clients will happily jump at any chance for free advertisement.
I hope you have gotten at least a few useful tips here. I would love to have you share your own via the comments section below! Thanks for reading!
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If you liked this article, buy me a flower !
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June 04 2008 | Making Money and Your Business | No Comments »
5/27/08
You’ve heard the saying “Organization is the key to speed!” Well, if this is true (and it is), then it must also be the key to efficiency and efficiency means less time spent on redundant tasks and more time spent on quality of life.
This quality could be more time spent with your family as opposed to working. It could also mean less time spent in the minutia of your business administration and more time focusing on the areas crucial to profitability like interfacing with your clients and prospects and servicing their needs.
Just scratching the surface here, but below are some ideas for achieving greater efficiency in your business:
Outsourcing -
The menial administrative tasks you are spending your valuable time doing now like order fulfillment, website administration, bill paying and many other chores can often be outsourced to various companies which specialize in particular areas of business needs and thus often can perform these tasks better, faster and cheaper than you.
Let them do what they do best while you do what you do best, which is pleasing your clients and landing new ones (or just eating Cheetos)!
Templates -
If you make a physical product, templates are probably something you use every day to keep each item the same as the last. Examples would be sewing patterns for a clothing maker or jigs for cutting wood products.
If you write a lot of letters and emails in your outreach (and who doesn’t?), it is usually wise to create different templates for the various types of correspondance you generate the most of where you already have the main parts pre-written and you simply add in the proper personal information (or fill in the blanks). This can be a huge time saver over writing a unique and personal letter each time.
Database -
I certainly hope your contact list is not still written in a little black book or a sheet of paper somewhere! I will admit that for the first few years of my business I had my lists in Word documents and sometimes on sheets of paper stuck to my wall. It was a very clumsy system!
These days I use the address book software that came with my computer’s operating system (I’m on a Mac). It serves my purposes pretty well. I can create different categories, put different contacts into multiple categories, can email and visit their websites from within the program and there is a large field for notes so I know what was last spoken of at a glance. I can also search for certain keywords throughout my database which helps me perhaps just pull up people who hire one certain service from me. This helps me target my efforts in a much more focused and effective manner. Some really great contact management systems would be Filemaker (the best in my experience), MS Access, Daylight and Goldmine.
You really want something that will sync to a mobile device though so review both database programs and mobile devices thoroughly before making a leap.
If you have a personal favorite, please let us all know all about it via the comments interface below.
I also use my computer’s calendar to keep appointments and synchronize it all with my mobile device (I use a Blackberry which is a bit buggy to sync with a Mac so I will likely switch to an iPhone once they improve or migrate my business to a PC platform next time I overhaul my I.T. Infrastructure).
Having everything on my Blackberry has become absolutely invaluable as I can pretty much conduct my business from anywhere I am. I literally have times when I am out driving about and I will just pull into a parking garage somewhere to get out of the sun, kick off my shoes, put my feet on the dashboard and run my business from wherever I am. The freedom is amazing!
I find myself sitting at my desktop just a few tmes a week now as opposed to all day every day as I did before getting a Blackberry. If you don’t carry a mobile device with email, web browsing, calendar and contact database, GET ONE !
Filing System -
You want to keep a proper file cabinet for all paper documents, tax forms, licenses, contracts, etc. organized in a way where you can instantly access the things you need. And make sure it is within reaching distance of your primary working area.
For folders on your computer, you want to embed them within one another in a heirarchy that makes sense. For me, I have a master folder for my business. Once that is opened, you will find more folders for the different areas of my business or the different things I offer. Open one of those and you will find more folders which hold various items for different aspects of that particular offering such as marketing materials, operational documents, etc. You get the idea.
If there are a few particular folders I find myself needing to access all the time, I will usually place shortcuts (or aliases) to those particular folders or files on my computer’s desktop. It is usually best to limit this to only an absolute crucial few folders which are the most used so as to avoid a cluttered desktop and therefore decreasing your efficiency.
Tasks -
Try to order as much of your operational supplies as possible from the internet and have them shipped to you. You will save time and expense from driving around which you can then spend actually conducting business or doing something you actually enjoy. Buying your supplies in bulk online is usually more directly cost-effective anyway.
Know the status of your supplies so that you can determine when to order them so you don’t run out and can combine orders which usually lowers and sometimes eliminates shipping costs
For the things you do need to head out into the world for, try to line up these trips so that you make them at times you were going to be heading that way regardless (like if the supply store happens to be on the way to the movie theatre or dentist). It seems obvious, but you would be amazed at how many people jump in their cars and make special one-off trips for small items when they run out and waste a lot of time and money in the process.
Organization and efficiency truly is all about saving the most precious commodity which none of us have the ability to replenish - time. Streamlining your endeavors is an investment that will pay itself time and time again. Take some time to save time and get organized!
Please contribute your own efficiency tips via the comments section below!
If you liked this article, buy me a filing cabinet !
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May 27 2008 | Technical Matters and Saving Money and Making Money and Your Business | No Comments »
5/3/08
You’ve heard the saying “Organization is the key to speed!” Well, if this is true (and it is), then it must also be the key to efficiency and efficiency means less time spent on redundant tasks and more time spent on quality of life.
This quality could be more time spent with your family as opposed to working. It could also mean less time spent in the minutia of your business administration and more time focusing on the areas crucial to profitability like interfacing with your clients and prospects and servicing their needs.
Just scratching the surface here, but below are some ideas for achieving greater efficiency in your business:
Outsourcing -
The menial administrative tasks you are spending your valuable time doing now like order fulfillment, website administration, bill paying and many other chores can often be outsourced to various companies which specialize in particular areas of business needs and thus often can perform these tasks better, faster and cheaper than you.
Let them do what they do best while you do what you do best, which is pleasing your clients and landing new ones (or just eating Cheetos)!
Templates -
If you make a physical product, templates are probably something you use every day to keep each item the same as the last. Examples would be sewing patterns for a clothing maker or jigs for a woodworker.
If you write a lot of letters and emails in your outreach (and who doesn’t?), it is usually wise to create different templates for the various types of correspondance you generate the most of where you already have the main parts pre-written and you simply add in the proper personal information (or fill in the blanks). This can be a huge time saver over writing a unique and personal letter each time.
Database -
I certainly hope your contact list is not still written in a little black book or a sheet of paper somewhere! I will admit that for the first few years of my business I had my lists in Word documents and sometimes on sheets of paper stuck to my wall. It was a very clumsy system!
These days I use the address book software that came with my computer’s operating system (I’m on a Mac). It serves my purposes pretty well. I can create different categories, put different contacts into multiple categories, can email and visit their websites from within the program and there is a large field for notes so I know what was last spoken of at a glance. I can also search for certain keywords throughout my database which helps me perhaps just pull up people who hire one certain service from me. This helps me target my efforts in a much more focused and effective manner.
I also use my computer’s calendar to keep appointments and synchronize it all with my mobile device (I use a Blackberry which is a bit buggy to sync with a Mac so I will likely switch to an iPhone once they improve or migrate my business to a PC platform next time I overhaul my I.T. Infrastructure).
Having everything on my Blackberry has become absolutely invaluable as I can pretty much conduct my business from anywhere I am. I literally have times when I am out driving about and I will just pull into a parking garage somewhere to get out of the sun, kick off my shoes, put my feet on the dashboard and run my business from wherever I am. The freedom is amazing!
I find myself sitting at my desktop just a few tmes a week now as opposed to all day every day as I did before getting a Blackberry. If you don’t carry a mobile device with email, web browsing, calendar and contact database, GET ONE !
Btw - some great database programs would be Access, Filemaker, Goldmine and Daylight just to name a few. You really want something that will sync to a mobile device though so review both database programs and mobile devices thoroughly before making a leap.
Filing System -
You want to keep a proper file cabinet for all paper documents, tax forms, licenses, contracts, etc. organized in a way where you can instantly access the things you need. And make sure it is within reaching distance of your primary working area.
For folders on your computer, you want to embed them within one another in a heirarchy that makes sense. For me, I have a master folder for my business. Once that is opened, you will find more folders for the different areas of my business or the different things I offer. Open one of those and you will find more folders which hold various items for different aspects of that particular offering such as marketing materials, operational documents, etc. You get the idea.
If there are a few particular folders I find myself needing to access all the time, I will usually place shortcuts (or aliases) to those particular folders or files on my computer’s desktop. It is usually best to limit this to only an absolute crucial few folders which are the most used so as to avoid a cluttered desktop and therefore decreasing your efficiency.
Tasks -
Try to order as much of your operational supplies as possible from the internet and have them shipped to you. You will save time and expense from driving around which you can then spend actually conducting business or doing something you actually enjoy. Buying your supplies in bulk online is usually more directly cost-effective anyway.
Know the status of your supplies so that you can determine when to order them so you don’t run out and can combine orders which usually lowers and sometimes eliminates shipping costs.
For the things you do need to head out into the world for, try to line up these trips so that you make them at times you were going to be heading that way regardless (like if the supply store happens to be on the way to the movie theatre or dentist). It seems obvious, but you would be amazed at how many people jump in their cars and make special one-off trips for small items when they run out.
Organization and efficiency truly is all about saving the most precious commodity which none of us have the ability to replenish - time. Streamlining your endeavors is an investment that will pay itself time and time again. Take some time to save time and get organized!
Please contribute your own efficiency tips via the comments section below!
May 03 2008 | Technical Matters and Blatherings and Saving Money and Making Money and Your Business | No Comments »
4/26/08
When you first learned how to walk, you didn’t just wake up one day, pick yourself up off the floor and start jogging around the block. Quite the contrary! You struggled and crawled and eventually pulled yourself up the side of the couch and used all your might just to balance on your feet for a second or two. But over time, you added steps, hops, runs and fresh funky-fly dance moves!
This sort of strength-building, learning and persistence process is paramount with any endeavor in life worth undertaking including making money and building up a personal system of perpetual income which can be compounded upon itself to produce true wealth. Just as you built up the muscles to walk across that room, an equal amount of effort is also required in building your financial income skills, or - “your money muscles.”
The most basic skill required is without a doubt, the ability to sell. From the moment you wake up in the morning to the time you rest your head at night, you are selling whether you know it or not. Selling isn’t always some jerk in a bad suit trying to push a crappy vacuum on you. Quite the contrary, that is not selling at all, that’s just being pushy and irritating!
Selling is also not the art of convincing people they want or need something they actually don’t. If you’re real slick, this might make you a quick buck once in a while, but will not provide you with a base for true, significant and ongoing success.
Selling is the art of serving your fellow human-being and coordinating your actions in a manner which best enables you to get the things in life you want. This could be as simple as having a properly-targeted outreach to people who actually have a use and desire for your products and services, or positioning yourself into a unique and underserved niche in your particular industry.
In tougher times when competition is more fierce, and the purchasing power of many has been notably reduced, success can hinge on being more adaptive, creative, cutting more overhead costs and going above and beyond what your competitors may be willing to do to serve others. Selling is not about you - it’s about your customers. The second you lose sight of that most basic of principles, you will fail.
Proper communication skills are also crucial. To compete effectively, you must have strong grammar and spelling so that you appear competent and knowledgeable. You would be amazed at just how many marketing materials I review which are riddled with errors. The ability to speak clearly and concisely and get to the point is a skill which will make a monumental impact on your chances for success. Nobody will purchase from you if they don’t understand what you are trying to provide. Public speaking groups such as Toastmasters or networking clubs are a great way to build these absolutely essential skills. Make a bullet point list of the major selling points of your offerings where each point is summed up in only a few words. Most importantly, when communicating with prospective clients - GET TO THE POINT QUICKLY and respect their valuable time. Nobody welcomes a windbag!
Network! Network! Network! Get out there and meet other business owners, especially those whose professions are complimentary to yours. Be quick to refer business to good organizations and offer rewards to those who refer business back to you. I just joined a new networking group last week where passing business leads to one another is an actual requirement to retain your membership. I have already gotten one business lead, met up with another business owner with a very complimentary service to mine, have gotten in contact with a couple of providers of special financial services I have been seeking, and have been invited to 2 other networking events specific to my industry… all from ONE breakfast meeting! Get it!? Networking is powerful stuff!
Invest back into your business - whenever you make some money, be sure to set aside a portion specifically for the purpose of exploring for new business and expansion of your offerings and take things to the next level. You’re only going to get out of your business what you put into it.
If you don’t love what you do - DO SOMETHING ELSE THAT YOU ACTUALLY ENJOY AND HAVE A PASSION FOR! This is the best key to success. If you are doing something just to make a buck and aren’t earnestly enthused about it, people can tell and will take their business elsewhere. There are a million ways to make a buck in this world and absolutely no reason to live in misery just for money. In the immortal words of Glenn Frye of the Eagles “So often times it happens that we live our lives in chains and never even know we have the key.
Please consider the above items as your exercise routine and work out daily to build your money muscles. Pretty soon, generating a strong income will be as automatic as blinking your eyes and you can focus on enjoying your life instead of sweating a buck!
Please share your own money muscle workout tips via the comments section below!
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If you liked this article, buy me a money muscle milkshake !
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April 26 2008 | Making Money and Your Business | No Comments »
4/16/08
First off, let me state that this stimulus check the U.S. government is sending most of us is a half-crocked, band-aid, cosmetic fix to some very real problems with our economy. It is sad that instead of spending their time actually fixing things, our politicians (yes, the Democrats and Republicans are both in on this equally) try to divert our attention by greasing us with some of our own tax money.
That said, it IS our money and I do wholeheartedly believe that we are better equipped to make our own decisions with it than any government ever could. I say send more of it back to us.
Since you’re getting one of these checks, are you going to run out and spend it on some frivolous, irresponsible luxury item like the President is urging? I won’t tell you not to, but I have prepared a few ideas of my own which I think may prove to provide a better return!
PAY DOWN DEBTS -
The best way to have more money in general is to not be paying interest to anyone. All kinds of financial gurus try to tell you to pay off your smallest debt first to make you feel like you’re making progress, but I’m not about to treat you like a child. “Feel-good”, lesser effective solutions are simply not my style! Pay down whatever is charging you the most interest and whatever you save in interest from having a lower principle, keep applying that amount to the remaining principle and let the progress compound upon itself until you are debt-free. My wife and I became debt-free (except for our mortgage and we are working on that!) about 5 years ago and now manage our money to live strictly off cash. It’s a better way to live and I can’t imagine ever going back to the way things were before!
GASOLINE FUND -
You’re going to fork out a lot of dough this year to pay for the increased cost of gasoline! Set aside your stimulus money and earmark it specifically for gasoline to ease some of the pain. And try to cut back on some driving while you’re at it. And as an aside - If you drive a diesel car or truck, you can actually convert it to run on biodiesel and cooking oil for about $900 - $1500. I’m not really sure how much money running biodiesel might save you or how much better for the environment it might be because the data is still all over the place on this one, but if you’re big on national security and kicking foreign oil, it might be a worthwhile way to “flip a bird” to OPEC.
VEHICLE MAINTENANCE -
If you’re a smart car owner, you follow your vehicle’s maintenance schedule religiously. Don’t avoid the big jobs like timing belts, valve clearances, transmission work, engine tuneups, tires, brakes and paint touchups (or even repainting completely if it’s getting bad!). If you have a big maintenance need coming up for your car, this stimulus check will help a lot in keeping your car in shape, keeping you and others safe and also saving you money in the long haul with preventive maintenance!
MAKE HOME REPAIRS AND PREP YOUR PLACE FOR SUMMER -
Replace filters in your air conditioner(s), caulk and weatherstrip doors and windows, paint the house, make roof repairs, trim trees, fix plumbing and electrical problems. Plant tall shrubs near sun-facing windows for more shade. Purchase a cover for your water heater to help it be more efficient (I have done a bit of research on tankless water heaters, and am not yet convinced they will save you much money, but they might). If you have a major appliance on the fritz, here’s your golden opportunity to replace it with something newer and more energy efficient!
CONTRIBUTE TO YOUR KID’S COLLEGE FUND -
If you don’t have a 529 Savings Plan, start one! And here’s a bit of evil information - 529 plans owned by a child’s grandparents have NO NEGATIVE IMPACT ON FINANCIAL AID! Launder your funds accordingly!
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AND HERE’S SOME TIPS FOR IF YOU’RE ACTUALLY DOING OK IN THIS ECONOMY -
TAKE A VACATION - We Americans work too damn hard. What’s it all for if you don’t enjoy yourself once in a while!? Is there a place you have always wanted to see? Now’s your chance! Go and have fun! You could be dead tomorrow and nobody wants to run off with a corpse to the French Riviera! (probably won’t change the smell of the place much though…)
GIVE TO A CHARITY - I recommend almost anything Bono is not involved with! (just because he annoys me is all…)
TITHE TO YOUR CHURCH - As long as they aren’t telling you to drink magic Kool-Aide to reach the mothership, they’ll probably pool your tithing with other contributions to make a larger impact someplace worthwhile. Just be sure you know where your money is actually going and no small boys are crawling around under your pastor’s robe!
Alright - GO STIMULUS YOURSELF already!
Please leave mindless jibber-jabber in the comments section below!
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If you liked this article, stimulus me !
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April 16 2008 | Debt Elimination and Blatherings and Saving Money and Credit and Health and Fitness and Home Matters and Education and Giving and Travel | No Comments »
4/9/08
It’s the oldest sales ruse in the book. Give something away for free or at a ridiculously steep discount to draw customers in, and then when you have a proper and targeted “captive audience” in the right frame of mind, present the premium products and services that make up your true profitability.
The big players have been onto this strategy for quite some time now. The free vacation if you sit through the timeshare sales pitch, the free printer with the expensive ink cartridges, the free razor with the special blades you can only buy from the razor-maker, the cheap video game player with the $80 games you have to purchase.
So the question burns - How does the startup entrepreneur use this strategy to their benefit without going bust in the process? You may want to ask the question this way instead - How much money, time and energy (which all end up translating back into money) will you spend promoting, advertising and chasing prospective customers regardless, and how targeted will those efforts be?
Giving away a loss-leader in the right way, even for a startup can be a great way to attract and captivate targeted prospects to whom you can then make your case as to why they should be purchasing their goods and / or services from you instead of that stingy guy down the street that doesn’t give them anything.
* For a home remodeler it could be something as simple as a free project consultation and advice just for visiting your shop and reviewing your services.
* For a florist it could be a free rose to would-be brides or wedding planners who come to discuss their upcoming wedding plans with you.
* If you have an auto detailing shop, it could be a free bikini babe calendar or flashlight (with your company name on it of course) for those who come to talk about tricking out their ride!
* If you sell a tangible product, your profit could lie in the replacement parts and after-market services for that product.
The possibilities are as endless as the places your creativity can take you!
For some companies, their entire business is a loss-leader which actually serves as a front for their “true” business (i.e. - A movie theatre is not really in the business of selling movie tickets as they are in the business of selling popcorn, candy and drinks. Hence the $1 movie theaters in many towns).
* A music rehearsal studio may have very low hourly rates, but will have equipment for rent, vending machines for drum sticks, guitar strings, food, candy, soda, etc. all at a premium price.
* A magazine is not really so much in the business of selling magazines as they are in the business of selling advertisement, thus many publications are actually free to the general public and many magazines will continue mailing you their issues even after your subscription runs out!
The best example in the world for a loss-leader business would have to be Google of course. Most everything they offer is free - online applications, maps, email services, website statistical tracking. What they sell is advertising and LOTS OF IT!
Whether you’re a baker having a free donut promotion or a salon giving a free manicure with every bottle of eyebrow wax, or the language lesson CD vendor who gives you the first lesson free, or the dope dealer who smokes out your kid for the first time to get them hooked into being a customer, it’s all loss-leader marketing AND IT WORKS!
Take some time to think about how loss-leader marketing can help you and your business grow and you may just generate some new clients and profits by simply GIVING IT AWAY!
I would love to read your loss-leader thoughts and strategies. Please share via the comments section below!
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If you liked this article, start giving it away right now - TO ME !
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April 09 2008 | Making Money and Your Business | No Comments »
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