Business Phone Blues

I work for a specialty after market auto parts retailer. We have no showroom, so around twenty percent of our business comes from the Internet while eighty percent comes from the telephone. We send out catalogs to those who request them or anyone who has placed an order in the last year. We also advertise in the back of automotive magazines. Needless to say, telephone sales are truly the lifeblood of our business. As of late, however, I've been wishing that weren't the case.

My company's business phone system has what I would call, the absolute most annoying hold message ever produced. My boss, the owner of the company, is a really nice guy. Unfortunately, he is a really nice guy with a very pronounced speech impediment. One day he decided that instead of the traditional hold music, he would play a repeating digital loop of him announcing our weekly specials. We are a very busy company. In fact, most days find our sales reps on the phone from the time we get in until the time we leave. As you might guess, with such a high volume of calls, many people are left on hold.

When our customers finally reach a sales rep, I would estimate that about thirty to forty percent of them do an impersonation of my boss... no kidding. The other sixty or seventy percent usually compliment us on the "funny voice" doing our ads. I've had a few who were offended by it, thinking we were trying to make fun of those with speech impediments. The thing is, almost everybody has something to say about the hold ads. I even had one customer complete an extensive order while doing his version of "the voice". Since our boss is a really great guy, my coworkers and I are less than amused on one hand, yet highly entertained on the other. My only problem is that while most of my colleagues are spread out over a huge office, my cubical is right next to the boss'. I have to keep a straight face during some fairly good impressions.

I miss the hold music.

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.

Business Buying Guide - Detail

Business Buying Process

First, You have to determining your investment. Usually minimum down payment made by the buyer is 30% of the purchase price. For example, if the business purchase price is $100,000 and loan amount is $70,000 (70%), then the buyer's down payment needs to be $30,000 (30%). Other possible expenses are inventories, supplies, escrow fee, license and permit fees, franchise transfer fee (if applies), etc.

And then you have to set criteria of desired business. Which includes location of business, type of business, price range of business, desired income of business.

After you decide your investment amount and criteria of business, you will need to find a right business that fit your needs. You can search business through online business listing service site like www.BusiMarket.com  busimarket.com Business For Sale , local newspapers, or through local business brokers or real estate agents.

If you find a business that you want to purchase, you will need to evaluate the business through current owner's income information and your projected income for short term and long term.
And then you need to make decision to purchase business or not. If the business is right for you, you need to write a very descriptive and detailed contract (Purchase and Sale Agreement).

When you are writing an offer, you have to make sure the contract includes the followings: Your offering price, Initial deposit amount, financing terms, closing date.  Other terms and conditions that can be added to the contract is buyer's loan approval, lease and lease approval from landlord, buyer to obtain all necessary licenses and permits, franchisor's approval of ownership transfer, the buyer's Satisfaction of books and records, closing cost allocation, buyer training session, business equipment and fixtures in good working condition, inventories and supplies amount, seller's agreement not to compete, etc.

After you finish writing an offer, you need to present your offer to seller. Negotiate the price, terms, and conditions and settle with final price and terms and condition.

Now you will need to allocate the purchase price of business that you are buying. After you done purchase price allocation, you will need to apply for loan, license and permits.

and then you will need to obtain a lease or sublease. You will need to make sure you obtain the lease or get an approval of lease assignment before close of escrow no matter what happened.

And then on or the day before the closing date, you will need to review the equipment list that is provided at the time of the acceptance of the Purchase and Sale agreement and buy inventories and supplies. And then you can do the closing on the closing date.

Business Basics for Catalog Retailers

Catalog retail is a world all it's own. Many considerations that other retailers don't have to deal with are of utmost importance to a catalog retailer. To name a few, the ordering process, warehousing and shipping must be streamlined for maximum efficiency. Maintaining a top notch inventory control and receiving department is also very crucial to business success. Above all, however, a catalog retailer must have a quality business phone system.

Considering the fact that the majority of customers will reach you over the phone, it is paramount to be able to not only handle call volume during peak times, but also to provide your customers service representatives with the features they need to do their job well. Business phone systems should be capable of not only putting your customers in touch with you, but also offer routing flexibility, voicemail and forwarding options for the administrative side of your company. Often, the difference maker for catalog retailers is not the products they sell, but the service behind those products. People who want to buy will have questions regarding an item that a simple picture and brief description will not answer. Most companies have service reps who take orders and product specialists who are familiar with the inventory.

It is essential for the product specialists to have access to a phone system that will accurately and easily allow them to receive and transfer calls between departments. After the initial contact by the sales representatives, the most common transfer of waiting customers will be to product specialists and hopefully back to the sales reps. A customer who is dropped accidentally during this transfer is likely to not call back. Additionally, customers who are made to hold for extended periods of time without an automated message thanking them for their patience are a primary example of lost revenue that could be curtailed by the proper business phone system. All in all, a well thought out business phone system is an integral necessity for any company, but it is especially important for catalog retailers.

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.