Can Your Small Business Afford Not to Have a Web Site?

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 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 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 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. tamingthebeast 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 people to invest in a small 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 business is just a little local shop. Why should I get a web site for my small 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 Business Plan—Do I?" Long story short, his mother in law finally convinced him to write a business plan and his business is making some money, but in my opinion, it could do better with some marketing. I'd really like to convince him to spend some marketing dollars (he's a little cheap sometimes), but so far, no dice. Anyway I digress.

Let's use David's business as an example. So, his 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 marketing-crazy and spends $2500 for his web site (which in my opinion is way too much money for a static small business web site).

But it does no good to have a web site if it isn't found. Statistically, when people 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 people 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 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.

Buy a Small Business in the United States

If you are looking for a business opportunity, the Small Business Administration (SBA) has an excellent website, including a search option for small businesses for sale in the United States. They also have financial options for those who are looking for a business opportunity to consider.

Small businesses consistently employ fifty percent of the workforce in the United States. Fifty-three percent of all small businesses are home-based, while three percent are franchises. You can always find a 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 business opportunity and buy a successful franchise, you usually don't have to worry about it folding in the first year. 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 website also lists the franchise fees and investment required.

According to the SBA, there were 24.7 million small businesses in the United States in 2004, the last year for which figures are available. 580,000 new small businesses opened in 2004 and 576,000 closed in the same year. The competition for any small 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 business yourself, it's important that you buy a business that you truly care about. If however, this business opportunity is purely an investment for you, then certainly the best business deal financially would make sense. Some people who open new businesses work 14, 16 or even more hours per day until the business really gets off the ground. This would be almost impossible to do if you didn't like what you were doing.

Home business opportunities are as far and wide as your imagination. You can start your own business or buy an existing one. You could have an online business, or a more conventional store or office. If you select a business opportunity that will have you doing something that you love, the money will likely follow.

It's not difficult to find a 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 business - one that will meet all of your needs, not just your financial ones. How much time do you have to devote to this business? Will this be your only business or one of many? Will you run it yourself or will you hire people 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 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 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 business journey.

Probably the most important thing you can do before buying a small business is your homework. Investigate more than one business before settling on a specific business opportunity, and above all, make sure it is something that you enjoy!

Buy a Small Business in the UK

Looking for a serious investment opportunity? You may want to consider buying a small business in the United Kingdom. There are several ways to turn a good profit in small business, but there are some important things to keep in mind if you are looking for an investment opportunity, especially if you are an investor from the United States, Canada, and elsewhere.

Any investment opportunity naturally comes with some risk. Foreign investors will need to calculate an additional variable when figuring up the possible amount of profit margin, loss ,and potential for both, as well as the exchange rate. How well is your currency doing against the British Pound? Be sure to include some "wiggle room" in your budgeting for fluctuations in the exchange rate.

For those already living in the UK, concerns such as taxation and local regulation are familiar topics. To those in overseas locations, it's important to look up the laws of the land pertaining to your type of business, the taxes for which you will be liable, and how to properly account for them. This may seem elementary to those with experience in putting money into an overseas investment opportunity, but for the first-time investor in a UK small business, there are many laws and policies that might surprise you. The key is to do your homework, get the advice of a good UK legal expert, and be prepared for a new and different way of doing business.

If you want to buy a small business in the UK, it's good to do a bit of research into the type of business you want to use as an investment opportunity. Are there ways that you can expand the business onto the Internet? Can the Internet be a help to you in increasing sales, market visibility, or media awareness? All of these factors are important to keep in mind. The most successful small businesses are the ones whose owners know how to take advantage of the Internet, while still meeting local needs and demands with speed and precision. It's not so different than doing business anywhere else in the Western world. It's important to understand how the buyers in your area of the UK respond to and utilize the Internet when it comes to commerce.

You'll also want to give your competing businesses a good hard look to see how they are using the Internet. Are you thinking of investing in an already crowded market? If so, you'll need some fresh ideas to give your version of the business a new approach so that you can set it apart from the competition.

A UK investment opportunity in small business may bring some unexpected surprises if you are considering investing in a "rising star" business. For example, twenty years ago, nobody had ever heard of a "cyber cafй". Today, cities are full of places that offer Internet services, games, coffee, and more for a price. This concept has become a very important part of many communities. Those who took the initial risk a few years ago, putting money in what they saw as a good investment opportunity, are reaping their rewards today.

Those who buy a small business in the UK often find that the investment opportunity is well worth the risks. With some research, a bit of financial planning, and the expert advice of a UK legal advisor, you can turn a potential opportunity into a major success. If you are living in America, Canada, or elsewhere, you owe it to yourself to pay a visit to the United Kingdom to see for yourself just what kinds of investment opportunities await you there.

Business Financing Guide (Simple)

This 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  busimarket.com 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  busimarket.com business for sale .

Step 1. Find a Business for sale at BusiMarket.com site for 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 Business or Commercial Property,
  - Personal Financial Statement provided by the lender,
  - Income tax returns from both buyer and 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 business, location, and buyer's situation. The information above is for information only and BusiMarket.com does not guarantee accuracy of information.

Business Cost Savings Through Safety

Business Cost Savings Through Safety

Setting a health and safety program in place will reduce costs. Having a program will reduce accidents and will lead to lower company worker's comp premiums; further 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 costs in accidents such as worker's comp and fines levied can close a business. Indirect 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 customer – Makes sure business is operating     optimally


Small 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 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 businesses such as retail establishments are not free of accidents.


A health and safety program can be started by writing a health and safety policy; this is simply values that a company wishes to convey in its work processes. Secondly, is how communication between all employees and owners will function. And lastly, put procedures in place to ensure safe practices.

To find unseen hazards and unsafe practices, an audit needs to take place. Take a hard look at the workplace and record all factors that may lead to injury. These hazards might be dangerous chemicals or as simple as a letter opener. Identifying these hazards will lead to procedures to controlling them. Controls such as "Don't run with scissors in your hands" are effective. Write all procedures in a manual.

Implementing these health and safety procedures will be done with behavioral change. Some programs become weak and non effective because of:
1)    No definition of safety practices – No written processes
2)    No teamwork – Safety is communication from the top to bottom and vice versa. A well written plan will describe what roles everyone plays in safety policies.
3)    No effective goals – The "accident free days" poster will come as a result of sound safety processes.
4)    Wrong incentives – Money as a reward does not work well. Health and safety should be fun and worth employees effort. The right incentive plan can be cost effective and have obtainable goals. Incentive plans can include movie passes or simply "free coffee on the boss." The insurance industry reports for a dollar spent on health and safety yields four to six dollars in savings.

Once all of the hard work of developing and implementing the health and safety program is done, set aside some time each month to review the workplace. Record what is found; this is a good practice to see dangerous trends that might occur such as a fire exit constantly being blocked. On the quarters of the year post a meeting with employees. These meetings are a great way to get vital feed-back from employees and keep them involved. At least once a year, do an audit to make sure your health and safety program is current with present business operations.

Boomers Have Big Hopes For Small Businesses

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 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 Businesses for People 50+," offer some advice. "Starting a small 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 business to where you want to be located.

• No More Office. Many experts believe that taking a business online is the easiest way to accomplish your goal of working while maintaining freedom. If your small business is located online, you have low overhead costs and can be found by customers around the globe without regard to where you are located.

• Have an Online Presence. Virtually every 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 businesses by offering products and services such as Do-It-For-Me Web sites (DIFM), easy-to-use templates and 24/7 customer consultants. Such services provide you with a Web partner that will enhance your 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 people or working with the kind of customers you choose to work with."

Blend Your Strengths with Small Business Needs

If you are looking to start a small business of your own, there is a proven process that is necessary to start off with. Many creative people have great 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 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 people 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 people 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.

Best Small Business Idea -- It's All About You

Getting More Focused -- It's All About You

Jeanna Pool from Catalyst Creative writes a great ezine on marketing each month. In January she shared 5 Great Marketing Tips for 2006. Number 1 was "Stop Focusing on You". She declares 2006 the year of the client 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 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 business and ask yourself why you started your 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 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 business. It will determine who your customers are and how you will help them. If you want $5,000,000 in sales, your products and methods are going to be a whole lot different than if you want $50,000 in sales. If you want to work only afternoons, that is going to shape your business as well. If you want to sell your 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 business?"  Write in as much detail exactly what you want your 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 Business Plans Don't Work -- How to Create an Effective Action Plan.

Best Small Business Idea -- Get Focused And Get Going

I used to give a talk titled, "10 Ways to Overcome Overwhelm in Business and In Life". It was an excellent resource for getting into action and taking charge of your 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 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 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 people? 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 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 business.

A small Small Business summary

Small business is a term that is used day-to-day. That is because in the past decade the rise of small 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 business owners, to enable them to keep their business running.

There really isn't any guidelines for when the term small business is used, however it is simply defined as a business which has a small number of employees. How few employees is debatable, and the definition of when a business changes from a small business to a larger corporation varies both by country and industry. This number is generally less then 100 employees.

As mentioned before small businesses due to their nature, are in most times sole proprietorships, partnerships, or privately owned. Common in may countries, small businesses, are most oftenly related to: accountants, restaurants, guest houses, photographers, small shops, hairdressers, tradesmen, solicitors, lawyers, small-scale manufacturing etc.

Small 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 business in your home.

Running a small business is an exciting venture, and a great way to introduce yourself into the business world, and to gain business sense. If you are interested in starting your own small 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!

Awareness And Mastery – Two Essential Keys To A Successful Small Business

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 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 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 business.

As a 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 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 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 business.

Awareness and Mastery -Two Essential Keys To a Successful Small Business

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 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 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 business.

As a 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 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 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 business.

Avoiding a Financial Crisis: How to Keep Your Small Business Alive

Having a superb product, soaring sales and stupendous customer service are undoubtedly some of the things which go into making a successful 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 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

Business owners are usually not good record or bookkeepers! People who start businesses are the ones who have great ideas, see a gap in the market or have the personality to sell anything. They are not people 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 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 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 people who keep records are the people 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 business premises. You could lose it to thieves, fire or flood

2.    If you are doing ‘business-to-business' 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 people 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 business can be a very powerful feeling! You may be tempted to spend on anything but the 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 business life. Your business, in order for it to grow, needs cash. Remove the cash and you remove the life blood which keeps your business alive.
You have to be disciplined in your expenditure and ask yourself the question, ‘Will this cost add anything to my 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 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 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 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 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 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 business is doing. It can help you put things right by highlighting the problem areas.

No Contingency Plan In Place

Bigger businesses need to have a contingency plan for all parts of the 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 business the biggest risk is you! What would happen to your business if you fall ill or even die? Most small 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 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 people 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 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 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 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.

Are You Thinking Too Small and Dooming Your Small Business To Failure?

One problem that many small business owners run into is simply thinking too small. I often have readers writing to me asking for helping getting their business ideas off the ground. I also often hear from folks who have run their small businesses into the ground. There are five key areas where you can think too small -- and doom your business to failure.

Niche Too Small

Is your niche too small? Finding a small market to target with your business is key to success, but sometimes people 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 marketing mistakes to end your campaign before it gets off the ground. In today's economy with the availability of global 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 advertising budget but you should have some seed money to get your business and its marketing campaign off the ground. It is possible to build a 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 business? Starting, running, and growing a business takes time. Some people get swept up in the planning and dreaming stages and never really start their business. Other people 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 business is running they get overwhelmed by day-to-day business and never think aobut ways to improve and grow their 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 marketing. Flexibility and adaptability are key to surival in today's business climate and you always need to have new ideas cooking to grow and expand your market and your 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 business success.

Answering Service, What Every Small Business Needs

An answering service is what every small business needs. Anyone who has ever worked for a small business, or has owned a small 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 business. With an answering service, you don't worry about missing important calls. Whether its an emergency or just an important client 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 client 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 client 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 client needs something done ASAP. Get an answering service today and grow your business with the piece of mind knowing that your answering service will keep you adequately informed of any important incoming calls.

8 BIG Small Business Mistakes

Here's an interesting notion: Do you realize that there are mistakes you can make at various stages of your 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 businesses, including those you might think are "successful" because they've been around for 10+ years, are often still making themЕ 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 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 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 people 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 & Costs- This seems like a stupid statement to some but I bet most 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 people on the floor for customer service but don't charge for it. These things cost you money and when your competitors don't do them it 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 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 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 people responsible for getting this info to the billing people 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 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 people start their own 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, 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, 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 people can cause business owners just because they allow you to pay them.

Spending 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 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 marketing that many people make the mistake of doing, is not tracking their previously successful campaigns. Why some people 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 sales person on the company, you can't get caught up in day-to-day operations. If you do, 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 business for yourself to work 80+ hours a week?

Not Getting Help Soon Enough- Set goals to know when to hire people to take over where you are light on knowledge. Not getting help or waiting too long can kill a company. Most people who start a business do it because they are good at the technical end or the 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 sales and 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 people 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 business.

Although looking for these problems at any time is a good idea, the end of a year or season is an excellent 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.

7 Tips to Starting a Successful Small Business

Getting a small business off the ground is challenging to say the least. Here are some tips which will prepare the ground for running a successful small business.

Have Goals

This is where it all starts Ц the foundation for success. Know exactly where you are heading. What will the business СlookТ like in the future? How will you know when your 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 people who know what they have to do but never do it. The successful small business owners are people who take action on their ideas, ones who never say, УI wish I had done ЕФ

Seek Feedback

There is a saying that feedback is the breakfast of champions. During the early days of your business you must continually seek feedback about all aspects of your business. What works? What doesnТt 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 DonТt Know

You canТt expect to know everything about running a 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 Ц nothing else matters.

Take Risks!

You will never achieve anything if youТre not prepared to jump off the cliff a few times! WeТre not talking about risks which will put the business in jeopardy; just risks which are planned and thought out, yet at the same time test the edge!

Think Positive

Yes, the oldest clichщ in the book, but totally true. See the positive in everything. If something has not gone right train yourself to ask, УWhat good has come out of this?Ф Understand that in every problem there is potential for good.

7 Key Tactics For The Small Business Owner

For most folks, owning your own 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 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 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 business with you. Will they get faster service? Go ahead and dramatize it, but keep the customer at the focus..."Get free overnight delivery!" Hey, it tells the 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 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 business has an impact.

Testimonials play an important part in advertising - especially for small businesses. Yeah, big businesses with well-known names don't have to worry about it, but small companies can use testimonials as 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 marketing campaigns.

3. Upsell
Upselling is one of the most successful 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 sales to someone you already have a relationship with.

Use every opportunity to increase your sales volume within the 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 sales. You may be shocked at the additional 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 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 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.

5 Simple Steps to Small Business Success on the Internet

For years, the website design market used to fall into three separate entities for website design and development: (i) graphics and animation studios, specializing in custom graphic design and creative animations, (ii) website marketing/promotion firms, (iii) Web programming companies specializing in database-driven website 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 business firms all over the world heavily rely on the services of such web development firms as they usually cater to small business website design by providing web based marketing methods that small companies can afford due to small budgets. Depending on the effectiveness of such web-based marketing, clients often see incredible successful results from clicks to conversion. There are some case studies which show that utilizing their marketing equation; some sites have gone from 10 leads a month to 300 leads. However, to achieve this is easier said than done. Web 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 businesses increased sales. After all, that is the reason one can zero down on in order to be in a business, right? To have more sales and offer value. Therefore, the objective behind any web development or website promotion project is to create a unique selling proposition through your website that can set you apart from your competition so your customers should only think of doing business with you, regardless of price.

Small business firms today look forward to the professional creative website 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 website is designed as a tactical marketing tool that aims to engage and educate their clients in turn. And most of these 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 website design strategies need to be incorporated. In a word, small business clients should be enriched with at least some of these features in order to fetch more conversions:
* Cutting-edge small business website design, tailor-made to provide broad market exposure of the products and services to potential clients.
* Highly scalable digital website designs, aimed at boosting up the growth and realization of the full perspective of the small business houses.
* Small business website design strategies including full-featured e-commerce solutions, to help these 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 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' 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 business website solution. On the other hand, creative, innovative content writers create specific and unique content for small business website requirements, thereby enhancing business prospects. Finally, website maintenance and search engine optimization techniques that comprise scientifically proven techniques available at a competitive price are sure to give your business a boost. Flash Presentation, Multimedia Presentation, Multi-lingual website development and E-Commerce integration solutions complement these customized website solutions for brightening the online and even the offline image of small business firms.

The Five Steps to Success:

To ensure success of your small business through a unique website presentation, it is important that you develop a five-step process for creating websites that meet your customer's goals. Whether it is a small 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 website starts with an idea. Perhaps you've been thinking about developing a website, or redesigning your existing site. At the consulting stage, a professional website 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 businesses.

Website Design: After the initial consultation, the website development firm solidifies the clients' ideas by creating a blueprint for their site by employing something they call "Strategic Design".

Website Development: The website 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 website 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 marketing success.

Website 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.

5 Key Components Of A Small Business Acquisition Loan

Major Challenges To Securing A Business Acquisition Loan

Qualifying for a small business acquisition loan can be quite an ordeal to say the least.

If the 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 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.

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 business acquisition loan.

>>> Financing Goodwill

The definition of goodwill is the sale price minus the resale or liquidation value of business assets after any debts owing on the assets are paid off. It represents the future profit the 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 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 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.


>>> Business Transition Risk

Will the new owner be able to run the business as well as the previous owner? Will the customers still do 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 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 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 business.

However, by doing so, any outstanding and potential future liability related to the going concern business will fall at the feet of the buyer unless othewise indicated in the purchase and sale agreement.

Because potential business liability is a difficult thing to evaluate, there can be a higher perceived risk when considering a small business acquisition loan application related to a share purchase.

>>> Market Risk

Is the business in a growing, mature, or declining market segment? How does the 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 business can be successful for at least the period the 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 business has a higher probability of resale.

If an unforeseen event causes the owner to no longer be able to carry on the business, the lender will have confidence that the 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 business selling to a broader geographic reach. Area based lenders may also have some working knowledge of the particular business and how prominent it is in the local market.

>>> Personal Net Worth

Most 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 business acquisition loan commitments.

The larger the amount of the business acquisition loan required, the more likely the probability of default.