Thursday, August 28, 2008

Your Home Business Offering Writing Services Fast-Start - 5 Tips

Want to make a great income from your writing? Start a writing services business. There are many services you can offer, including copywriting, Web writing, and creating resumes and bios.

The more experience you have, the more you can charge for your services. If you're completely inexperienced, your first priority is to get some writing jobs so you can create your portfolio.

When you run a writing services business you'll initially write from home, and this can present some challenges. Ensure that you have the agreement of family members before you start, and set up your home office in a room with a door you can close.

So let's look at five tips for success.

1. You're a Seller - Find the Buyers

As a writing services provider, you're a seller, and you need buyers. As your business grows, you'll collect a stable of regular buyers, who will have you on a retainer. These are your "anchor" clients - see Tip #4.

You can find clients anywhere. Start local. Businesses, associations and clubs in your city will occasionally need your services, so send out some letters, and post a classified ad. You won't get responses immediately, so follow up on your letters, and post your ad for at least three months.

People need to see your name several times before they contact you.

Can you advertise online? Yes, you can. However, if you're a completely new writer, without a portfolio, then it's harder to get clients in the online environment than in your local area.

2. Create a Business Plan

Your next step is to create a business plan. This is a forecast of: your clients, the types of services you provide, your marketing (advertising), your costs, and your income goals.

Your business plan gives you direction. It can be very short - keep it to a single page. Then create projects and tasks which will help you to achieve your income goals.

3. Set Deadlines for Each Stage

Set goals and deadlines for the number of clients you want to get and the income you want to make in six months, one year, and three years. Yes, this is all guess-work. However, it serves as a road map. You'll find that you always achieve your goals much more quickly than you expect IF you set them first... so do set goals and deadlines.

4. Get Anchor Clients

Your anchor clients - those clients which buy your services regularly - keep you in business. Aim for around six to ten anchor clients.

If you have just one anchor client, this is dangerous. Businesses hit hard times, change their procedures, and go out of business. So ensure that you have at least six anchor clients at any one time. This protects you and your income.

5. Find a Mentor

You need a mentor - someone who is doing what you want to do, and has been doing it successfully for at least three years.

You may find a mentor in your local business community.

Your mentor's primary function is to act as a sounding board, and to inspire you and give you ideas.

6. Bonus tip: get an accountant to help you with your finances. Once you get busy, you'll be glad of the help.

10 Tips For Getting the Most Marketing Benefit From Your Business Cards

Business cards are among the least expensive marketing tools a business person has at his disposal, yet they are typically very poorly used, if they are used at all. Here are some tips for maximizing the marketing power or your business cards.

1. Carry your business cards with you at all times. This sounds obvious, I know, but you would be amazed how often a business person doesn't have business cards on hand when they are needed. Even if you manage your contacts through your PDA and you love to "beam" your contact information to others, still keep those business cards in your wallet, business card holder, pocket, briefcase, and car.

2. Make sure your employees, spouse and close associates also carry your business cards with them. I have picked up more than one client who learned about me through a conversation with my husband, who reached into his wallet and handed over a business card.

3. Hand out a business card as you introduce yourself at meetings and networking events. Not only do people appreciate seeing the name they just heard, but putting a business card in someone's hand as you introduce yourself engages three senses while you have their attention (hearing, sight, and touch). The more they are engaged, the more likely they will remember you, which is the point, remember?

4. Consider having your photo printed on your business card. People like to see who they are working with. Seeing your picture later will help them remember you. Also, it has been documented that seeing a photo on a business card and a website tends to help people develop trust faster than when they don't see a picture. If you are concerned about your appearance, do something about it or get over it. Touch up your rough edges with some photo editing software if you must, but get your face out there!

5. Be creative with your business cards. Of course, you want to make sure that your name and contact information are legible, but you should use the opportunity to express a bit of who you are with your business card. Maybe you can do that through a creative use of color or your logo. Perhaps you will want to add a unique slogan. Consider a double-sided card design. I saw a card recently with contact information on both sides. I saw another with a web address on the back. The back is also a good place for a catchy slogan.

6. Leave cards behind when you call on someone who is not there. Write individual notes on these cards to make them more memorable and personal. Be sure to use the other person's name n your handwritten note.

7. Hand a card to the secretary when you arrive for an appointment. This will help her get your name right when she notifies her boss that you are there. It also makes sure your contact information is in the hand of the person who will probably be entering it into the data system. By the way, business cards are the business descendent of calling cards, small cards with the visitor's name on them, which were used to announce the visitor to the person being visited. Presenting a card when you arrive for an appointment demonstrates a little class and etiquette.

8. Include a business card in greeting cards you send to customers or prospects. Especially if your business card has your photo on it, this will help them remember who you are, and remind them of your contact information. If they misplaced your card, this is a way to get it to them again without forcing them to ask for it. Also include your card with gifts you give to clients.

9. Look for opportunities and appropriate places to leave your cards behind for others. The right places for this will depend on your business and target market. You can ask business owners to allow you to leave cards in a holder on their counters. This is particularly appropriate if you have a complementary (but not competing) business. Also, don't be afraid to leave one or two laying around here and there (on bulletin boards, near ATMs, etc.). It's a good place if it is somewhere where your clients or prospects will be.

10. Use your business card for ads in newsletters and local publications. The term "business card size" is a common term for one of the sizes of ads available in most publications. You don't have to use your business card for the ad copy, but if you have a good business card (photo, nicely designed, easy to read), why not?

There are many ways you can use business cards to help market your business. Don't be stingy with your cards. Hand them out freely. Personalize them with notes. Don't assume that just because you gave someone your card in the past that they still have it, or that they transferred the contact information before misplacing the card. You will undoubtedly see a rapid return on your investment as you begin to use your business cards more.

7 Tips to See If Your Retail Business is Running As Well As it Should

Most independent business owners decide whether they are successful or not by simply seeing if there is more money in their jeans at the end of the month or not. Or they wait for their accountant to report what type of year they had. Or they go by the "feeling" they have at the end of a month. It doesn't have to be guesswork. Reports of various kinds can help you see in real time how well your business is running, where you should grow and what proactive steps can be used to avert disaster.

1) Year over year sales. While obvious, this is necessary not just to look at this year compared to last, but also the previous three years. Is there a trend to your business growth?

2) Customer counts. Most POS systems can do this report easily for you. If not, simply tally the number of transactions you had for the month. Comparing this to previous years helps identify whether you are truly growing your base.

3) Average order amount. Your POS system can do this as well. If not, simply divide your monthly gross by your customer count. Comparing this to previous months and years helps identify if your crew is upselling. A business can only grow incrementally unless customers leave with more than one item.

4) Turnover. Have trouble with people quitting on you? Always hiring? Take your monthly schedule and divide the number of W-2s you sent out with the number of shifts on your typical schedule. For example, if you have only 4 employees including full and part-time and you sent 12 W-2's in January you would have a 300% turn. It could be a symptom of poor management resulting in employees voting with their feet. Look at your management style to cut turnover. My way or the highway ended with crew cuts.

5) Mystery shops. While we always take care of our regulars, they'll more than likely always return because they have a relationship with you. The important test is how well new customers are treated. An independent mystery shopping service can anonymously give you feedback. While a shop is only a moment in time, after several on an ongoing basis, a clear picture emerges. Decide what your standards are - everyone is greeted within 15 seconds for example- and build your scorecard with it. Use it to reward good actions more than punish.

6) Category sales. The big trend in retail now is additional services that can contribute to the bottom line. By having, say a dozen categories, you can quickly analyze where the true growth in your business is coming from. Then add to those product categories while reducing less-performing ones.

7) Employee individual sales as a % of monthly sales. Not everyone can sell well and sales figures don't lie. Low sales are often a great indicator of interest in your business. Everyone can have an off month but if there is a pattern, you can intervene before a disgruntled employee ruins you. My philosophy: when the mind goes, the body should follow. Do employee reviews on all of your employees in February and July.

The most sophisticated POS systems can be setup to automatically to email most of these reports to you on the first of each month. That way you can't forget or procrastinate. Put the reports in a 3-ring binder after you have reviewed them or entered their information into a spreadsheet.

By reviewing each of these seven indicators, you can continually work to have a well-running business.