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                                        W h e r e   D r e a m s   M e a n   B u s i n e s s
  
                                         May 26, 2008 - Issue #22                                   
 
Featured Business
 
W-E MORTGAGE
  wemortgage
W-E Mortgage an structure a mortgage loan that fits your needs.

With years of experience in all types of mortgage financing and the ability to use over 60 plus lenders W-E Mortgage is your one stop Loan Originator.
 
If you need cash flow, lower monthly payments or short term financing
W-E Mortgage can arrange a loan for you.
 
W-E Mortgage provides a free loan analysis that will include your credit worthiness as well as identify what programs are available for you, and of course, all programs will be at the very best market rate and cost.

1st or 2nd Mortgage
Refinance
Purchases
Home Improvement Loans
Home Equity Loans
Debt Consolidation
Jumbo up to $4 million
FHA Loans
VA Loans
Conventional
Reverse Mortgages
Good or Bad Credit
 

Contact:
Sherrell Lewis 
(937) 428-6000 Ext. 221
 
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7 Tips to Absolute Business SUCCESS! 
 
Do you want to make your small business an absolute success?
 
Over time I've found many small business owners are usually missing some of the most fundamental things in their businesses.

Here are just 7 fundamental things that will help you make your business an absolute success just like the lady below!
 
 
Tip #1 - 'Indirect' Marketing
Now before you roll your eyes and scream "Oh gosh, not another one!" hear me out.
 
First of all, your marketing is not just your flyers, ads or sales pieces, but rather things like adding copy to the back of your business cards, the presentation of your products, how your employees speak to your customers, how your business smells (yes I said "how your business smells"), what your office looks like, how you dress and how you reward your customers/clients. starbucks
 
There are so many things but, all of these things will get you more word-of-mouth and free advertising/referrals. Nothing beats having a REAL person say you and your company are the best things since sliced bread!

Tip #2 - Sales & Marketing
Okay. Here's the scoop here. Many small business owners often mistake "sales and marketing" as interchangeable terms and activities. The terms are different and generally not the same.
 
Marketing includes the activities involved in and the process of generating leads or traffic to your business, phone calls to your company or a list of people interested in your product or service.
 
Sales is the actual act of interacting with the customer/client and collecting the money for your product or service. Your sales force is not your marketing team. Your marketing team is not your sales force. However, your sales force's success or lack of success in treating your prospects and customers with care and respect (now that's a part of marketing!) will resonate throughout your business.

Tip #3 - Website/Technology
In this day and age, for a business not to have a website that helps it to build relationships and drive more sales is unthinkable.
 
The potential for businesses to create loads of increased revenue is tremendous just by forming online relationships with current customers/clients through the technology of email. 
 
A business can literally create a special offer, email it to current customers/clients and sell out in a day!

Tip #4 - Systems
Oh, boy! Here's another one. If you are in business and intend on staying in business and growing that business, systemizing your processes is an absolute MUST!
 
It may mean buying software or creating a manual system, whatever, depending on the procedure. Having a systemized and predictable process of doing things is like breathing - without it you CANNOT survive!

Tip #5 - Accounting
Here is a little rhyme made up by Rasheed Ali:
 
 "Money in, money out;
 Where does the money go?
If you do not book it first,
How will you ever know?"
 
Accounting, Finance or Bookkeeping whatever you call it is simply essential for running your small business as efficiently as possible. Besides if you don't track your income you may never know where it's being made.
 
I've met quite a few people who have books that looked like my two-year old granddaughter could have done by banging on my keyboard! Are you guilty of this too? Set up a good accounting system - or have a "pro" do it for you.
 
Many business owners find great revelations or insights into their business by getting an in-depth analysis of their books.

Tip #6 - Research
Now this may be a little intimidating for some novice small business owners. Spend some time researching the buying habits of your current customers/clients. You may find there are covert reasons people purchase items from you. You might also be surprised what people will tell you.
 
Additionally, your customers/clients buy your product or service for different reasons. They do not all buy for the same reasons.  Learning the main reasons your customers/clients buy will not only help you serve your market more efficiently, but it will help you to create more value for your non-consumers.
 
This way you're covering your major angles and providing greater quality for consumers and converting non-consumers into paying customers. Can you say, "More Sales?"

Tip #7 - Emotions
Now you're probably thinking, "WHAAA?" Well let's put it this way; When you go to a store, any store, and buy something you need or want, what are you doing? Are you using logic or intellect? NO Way! You're fulfilling some emotional need.
 
Human beings rarely buy something for logical reasons despite  popular thought or what some know-it-all tells you. SO how do you apply this to your business? Well here's one thing you can do:
 
When a customer/client walks in, phones, emails and asks a question, have someone honestly and sincerely answer their question. Find out exactly what they really need or want. Then follow up to see if their needs or wants were sufficiently met.
 
Show them you care and they'll reward you with their money over and over again!

These are just some of the dozens of different things that can and will help you make your small business more profitable. By applying any one or all of the above tips you are almost guaranteed business success.

STOP! Read these tips again. See how you can apply them to your business.
 

Adapted from an article by Rasheed Ali
 
5 "THINGS TO DO" this week
         to build your business...
MONDAY, May 26
HONOR OUR HEROES!
 
TUESDAY, May 27
Schedule two networking events for next week.  Be sure the events are events your potential clients may attend. Schedule the events  on different days in different parts of your area.  Attend events in opposite times of the day.
 
WEDNESDAY, May 28
Become a speaker at local groups, organizations and associations.  Small businesspeople are successful because they're experts on something. So whether you're in sales, printing, tech consulting or retail, find a way to transform your expertise into an informative, concise and entertaining speech that will help other people like yourself boost business.
 
Contact the meeting/speaker coordinator of your local Chamber, Rotary Club, SCORE, Networking Group, Trade Association, etc. They always need speakers. Make sure you select groups who can use your company's products or services or who can refer business to you.
 
Offer the group a free 15-20 minute program. Include valuable tips, stories, illustrations and examples from your own business experiences that are of interest to the members.
 
By speaking, you position yourself as an expert, validate your credibility and increase your company's visibility -plus you reach a lot of people at one time.

THURSDAY, May 29 
Create an emergency fund for your business. From the gross amount of each sale, service or consulting fee, however you get your revenue, deposit 10% into a separate bank account (preferably interest bearing).  
 
Your business' emergency fund is used to fund different business objectives especially if the allocated fund for a particular project costs more than what is expected. In this case, the emergency fund can serve to save the company a lot of time because the manpower and the time are being used efficiently. You don't have to pay application fees, fill out applications and wait for answers from lenders.

Use these funds in an emergency only such as when your business suddenly falls short of funds or a client doesn't pay a big bill due you. Instead of borrowing the money from a lender,borrow the money from your emergency fund and set up a payment plan to pay it back.
 
With all the expenses you need to deal with everyday, you might sometimes have a problem in setting aside a small amount to be used for emergency purposes. You should note though that even setting aside a very small amount like 10% can add up and you will be surprised by the amount of money you have saved in your emergency fund within a few months.
 
You can set aside this money by learning to budget your expenses properly.

FRIDAY, May 30
Prepare to do May books. Start gathering your receipts, expense and mileage reports as well as documentation of your revenue for May. Separate your personal items from your business expenses. 
 
If you have a home-based business don't forget to include the part of your home or apartment you use exclusively for business as a deduction.
 
 
 
We will send you five more things to do to build your business next week!
 
 
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