Top 10 Things Businesses Waste Their Money On

Money is a scarce resource in the startup world, and many small business entrepreneurs are always looking for ways to cut cost. This usually proves to be a difficult task, as everything seems to be necessary at the moment.

The truth is, you don’t need many of the things you are spending money on, and you could be spending less on those that are very necessary. Below are 10 things your business can do without, or you could be spending much less on.

1. Subscription-Based Services

Your business needs project management, automation and several other software that will make work a lot easier for your company. These can cost quite a lot, especially if they are based on periodical payment, which means an extra expense in your budget every month.

You don’t need to spend money on a lot of software, as there are many tools that offer good quality service for absolutely free. Whenever you need software, use the free versions first and only pay when the features you need are not available.

2. Office Space

Renting office space is one of the constant business expenditures, taking up 4.6 percent of most startup spending, and that is not including utilities. When you choose one that is too expensive, you are setting yourself up for high expenses every month. First, consider if you need a working space or if your employees could work remotely. You could also get a smaller office space, and give all the employees whose job doesn’t require them to come to the office an opportunity to work from home.

3. Office Equipment

Furniture, stationery and electronics can cost quite a lot if you buy expensive stuff. The average startup spends three percent of its budget on business equipment alone. This does not mean you have to buy cheap tools because that can affect your operations and make the working space difficult to be in.

Try visiting secondhand stores for quality products at a discounted price. Also, have rules for stationery. A lot of paper gets wasted in printing; most employees have sticky notes, notebooks and pens they never use, just letting them pile up in a drawer.

4. Branding Goodies

Branding is very important to a new business, but it rarely has any value. They are a wasted expense that doesn’t have any proven results, yet they eat into your budget and sales as the printing of logos on the merchandise can be quite expensive.

5. Over staffing

Seeing your company grow and bringing on board more employees is an exciting and motivating thing, but it is a very costly expense if you are not ready for it. More employees mean increased overhead costs, more salary expenses, medical coverage, pensions and other such expenses.

According to the National Association of Independent Businesses, employee wages are the biggest expenditure of small businesses, with 19.4 percent of all the company’s money spent on it. Keep your company modest until you are able to afford more staff without it being an inconvenience. You can automate tasks to free up some time to do more important, cash-generating tasks.

6. Networking Group Memberships

Networking is a good way to learn and find growth opportunities for your company. Many new entrepreneurs would want to join as many groups as possible to widen their network connections. Even if the membership is just $20 per month, when you join five, it’s $100 every month, which is a significant amount of money for a small business where every penny counts.

7. Ill-Thought Marketing Efforts

Marketing can never be disputed as one of the most integral parts of any business. But any marketing effort that cannot be measured is a waste of both time and money. This is because you won’t have a way of finding out what works in order to focus your efforts on it and discard others. If you have marketing techniques that cannot be measured, you run the risk of using marketing campaigns that don’t work and get basic results, while you could be getting more from targeted, focused marketing.

8. Unnecessary Events or Travel

Company parties, lunches and trips are nice and could boost staff morale, but they can be wasteful especially for a startup. Many startup entrepreneurs like to indulge in such, perhaps as to show that the company is doing well.

Research shows that small businesses spend 37 percent more on plane tickets than large businesses. This extravagant spending can only lead to cash flow problems if not controlled well. Minimize the traveling time for staff or allow your people to collaborate virtually. You can also have your staff join similar events and send them off at one time.

9. Expansive Website

The truth about websites is: people want them simple, easy to navigate and full of great content. You don’t need one that costs several thousands of dollars just yet, but many small businesses are still spending 52 percent of their web marketing budget on web design and maintenance.

You can find professional website designers with amazing work online. Sites like UpWork have a lot of freelance designers who will charge a fraction of what big companies would cost to design your website.

10. Buying Followers

Many small businesses will try to buy followers in an attempt to get a community of potential customers. This is usually a wasteful endeavor as the audience you buy is likely made of robot traffic with fake profiles that are never going to convert. Thus, you’ll never make a profit from them.

Conclusion

When you start your business, you should run it with a frugal and minimalist mindset. Analyse every expense critically, and if there is a way of cutting costs while getting what you need at a good price, then take it. However, be careful not to compromise quality while trying to cut cost, as this will cost you a lot more in the long run.

http://myonlinesalesmachine.com/kaykullayaeve

How to Get Your Email Delivered and Read

Email marketing can be a very effective way of bringing new customers into your sales funnel. But due to the widespread use of viruses and malware, most people are cautious about opening an email that comes from a source they don’t recognise, that is strangely written, or appears to have come from a non-English speaker.

You can reassure your prospective customers that the emails you send are safe and reliable by following a few simple email marketing etiquette rules:

1. Don’t Sensationalise the Headline

The default setting for Yahoo, AOL, Gmail, and the other popular email providers is to show who the sender is and the headline. In some instances, the first few words of the email text itself will appear on the user’s email queue.

That makes the headline the first important element of your email. If it is overly exaggerated, makes extraordinary claims, or is otherwise sensational, there’s a better chance that the email will either be sent directly to the “Spam” folder or deleted by the user without being read.

The objective is to get the reader to open the email, so your headline has to give them a reason to do so. You want to capture their imagination and engage their interest, but not go over the top. Avoid using exclamation points – especially multiple exclamation points – as well as ALL CAPS and crazy colours because this will most likely tag your email as spam.

2. Use the Person’s Name, If Known

The greeting is the first thing the reader will see when they open your email. If you know the user’s name (because you either know them personally, they are already on your list, or their name was included on an email list you have purchased) use your autoresponder to insert their first name in the greeting, such as “Dear Paul” or “Dear Sandra.”

Email tends to be less formal than traditional letter-writing, so in most cases using the person’s first name is perfectly acceptable. Using the person’s last name can often seem off-putting, such as “Dear Mr. Stewart” or “Dear Ms. Simpson.” Exceptions would include formal titles such as “Doctor,” “Professor,” or a military title.

3. Get to the Point

Because emails are less formalised than traditional letter-writing, and because people get so many emails every day, the person receiving your email probably isn’t going to give it much attention. That’s why it is critically important that you get to the point of your email right away, starting with the very first sentence.

In email writing, you have to give the reader a reason to keep reading. Don’t waste time by beating around the bush or trying to build up to your point slowly. You have only a few moments to maintain the reader’s attention, so make the most of it.

4. Signing Off

Another difference between traditional letter writing and emails is the sign-off. You don’t have to include a formal “Sincerely” or “Gratefully yours.”

Simply ending with your name is perfectly acceptable. Or, if you prefer, you can use an informal phrase such as “Chat with you soon” or “Cheers.”

Following these general email etiquette protocols will increase the chances that the person receiving your email will open it and read it. Make sure the content of your email pushes the person to the action that you want them to perform, such as clicking on a link included in the body of your email.

To learn more techniques like these for improving the profitability of your business, check out our lead generation system by clicking on this link now

Forwarded by: Kay Eve  https://mustgetprolife.com

How to build a solid credit history that will last a lifetime.

If you’ve never had a credit card before or have a severely limited credit history, it can be difficult to find a bank that will give you a shot. And if you have bad credit or a poor credit history, your chances of being approved for the credit card you want may be even worse.

Knowing your credit score or an estimate of it is one thing — but you also need to know what your score means and whether it’s high enough to qualify you for a credit card. We recently looked at what constitutes a good credit score, and, according to credit expert John Ulzheimer, here’s how credit score ranges tend to stack up from top to bottom:

• A credit score of 760 or higher is considered excellent credit.
• A score between 701 and 759 is considered good credit.
• A score of 651 to 700 is considered fair credit (695 is the national average).
• Under 650 is considered poor credit.

The higher your credit score, the more likely you are to get approved for a credit card. So is your score high enough? In 2013, only 39.1% of all applicants were approved for general purpose credit cards, according to a study by the Consumer Finance Protection Bureau. However, 58.7% of Americans with “prime” credit scores — those in the 660 to 720 range — were approved, and 85.5% of applicants with “superprime” credit scores (720 or above) were approved.

There are other variables that may determine whether you’re ultimately approved for a credit card or denied, but once you know your credit score you’ll have a better sense of your chances. And if your score is on the lower end of that spectrum, you’ll know it’s time to make some changes — paying down balances and paying bills on time — to get that number moving in the right direction before applying for a credit card. Check your actual credit report for free.

In addition to your credit score, it can be helpful to get a copy of your actual credit report. Fortunately, you can get a free copy of your credit report from all three major credit reporting agencies – Experian, Equifax, and TransUnion – for free, once per year.

All it takes is a visit to AnnualCreditReport.com to get a copy of your credit report for free. Simply visit the website and enter all of your information, and you’ll soon see all of the information shared on your report.

If everything reported there is accurate, you have nothing to worry about. If you find a mistake, however, you should do what you can to have it fixed right away. If you spot a mistake, here’s a post on how to dispute credit report errors.

Make all of your monthly payments on time.

If you take a close look at how your FICO score is determined, you’ll notice that the biggest factor playing into your credit score is your payment history. 

In fact, your payment history makes up a whopping 35% of your credit score. If you need to improve your credit before applying for a rewards credit card — or simply want to keep it in perfect shape for the long haul — paying all of your bills on time is the best and easiest way to do it. Conversely, missing a payment or paying your bills late can wreak havoc on your credit score in a hurry. You should avoid making late payments on any of your bills if you can

Pay down your debts.

Another big factor in your credit score is your credit utilisation. 

This term, utilisation, is used to describe how much money you owe in relation to your credit limits. 

While utilising some of your available credit is generally a good thing, running up too many large balances is frowned upon and reflects negatively on your credit score.

Most experts suggest keeping your credit utilisation below 30% — meaning, if your credit limit is $1,000, you shouldn’t carry a balance larger than $300. When you’ve used up more than 30% of your overall credit limit, it makes you appear riskier to lenders and can cause your credit score to drop.

When you pay off debt and get your utilisation below 30%, on the other hand, your credit score will have the best chance to surge — and it does so right away. So if your credit score is borderline, pay down any outstanding balances before applying for a credit card to give yourself the best chance of getting approved.

Search for the right credit card offer.

While you might be anxious to get any type of credit card, it’s important to take some time to search for the best offer and find one that suits your needs.

If you want a credit card to consolidate your debt, for example, you can start by looking at balance transfer credit cards that will let you pay zero interest for a limited time. If you’d rather earn rewards, there are dozens of great rewards credit cards to consider that offer everything from cash back to airline miles. What’s more, some cards offer lucrative signup bonuses if you spend a certain amount on your card in the first three or four months.

Once you find a card that seems like a good match for your spending habits, applying is as simple as filling out an application online, including your personal information and details about your income. Most credit card issuers will give you a response in minutes.

Just remember that the best credit cards and offers generally go to those with good or excellent credit. If your credit needs some work, you might need to consider a different type of credit card to get started.

Use credit wisely and never give up.

If you aren’t able to qualify for a credit card right now, the best thing you can do is give yourself some time. By using the credit you do have responsibly — paying utilities, car payments, and student loan bills on time, every time — you’ll put yourself in the best position to boost your score over time. And if you have bills in default, a lot of debt, or other negative marks on your credit report, you should focus on repairing that damage before you take on more credit anyway.

Pay all of your bills on time, refuse new debts and pay down old ones, and monitor small changes in your credit report for signs of progress. Over time, your score will inevitably rise as long as you treat it with the respect it deserves.

The Importance of Credit Cards

Having a credit card is hardly a luxury these days. If you want to rent a car or a hotel room, for example, you’ll usually need one in your wallet. And if you ever want to buy a home or finance a car, you’ll need a good credit history and a solid credit score standing in your corner.

Still, it’s not always easy to get approved when you have poor credit or a limited credit history. The best thing you can do now is to take a step back and look at your credit for what it really is. And with the steps listed here, you can be on your way to a better credit score in less time than you think. As told by: Holly Johnson

Forwarded by: Kay Eve
www.mustgetprolife.com

How to get from where you are to where you want to be!

The fact that we can see successful people reaping the rewards of their efforts to become better by taking positive actions, including changing their own behaviour and attitudes, is the ultimate proof of the effect of the natural law most commonly called "mind set".

By taking your self-volition beyond the life ordinary, forces beyond your control become involved that will benefit you in some way, either immediately or somewhere further down the road.

Every choice, big or small, is a risk-reward calculation, where the bottom-line thinking is "what's in it for me"? It need not simply be a matter of money, it may be a sense of freedom, independence, fulfilment, community development, whatever your objective may be.

That is the force at work when people swallow their pride and just get on with their job no matter how they may dislike it. However you will not see successful people standing still. They feel things just like you and me but they don't allow themselves to get stuck feeling like a victim of fate. They see success as available for themselves, not just as potential "luck" or random chance. They carry this belief even when luck does happen.

Sometimes we may come across a good opportunity for success, yet we let it pass us by because of the indecision resulting from previous experience of failure, preventing us from grabbing it with both hands.

Your beliefs and ideas got you so far and that's a good thing, but beliefs can also make it tough for anyone to further change their way of thinking. So the beliefs that carried each one of us this far may be holding us back in our quest to go further. It's an effect called the "paradox of success".

These beliefs can prevent us from changing safe, "proven" ways and if you don't change them you may avoid losing, but you miss good things that may result in you achieving your dream of greater success in life.

There are four key beliefs that help us to become successful.

Belief # 1 - I am a success. Keep reminding yourself every minute that you are a successful person, At first you will not believe it applies to you. But look at yourself every day, how you get up in the morning and go to work. Think of the successes you have achieved. They may not be huge but you deserve self respect and a good feeling about yourself. Everyone messes up in life now and then, but don't dwell on these things. We must learn from our mistakes, that's vital, but don't let them drag you down. What you need to do is to just extend your ambitions then extend your actions and your successes will increase!

Belief # 2 - I will succeed more. You need to believe that you can do it and you will succeed in whatever you do. Most of us lose the natural "can-do" attitude that we had as a child. Yes it may have occasionally got us into terrible scrapes but wasn't it great! In the adult environment, where life's demands and work demands push and confine us, there is no system to steer our determination towards the things we want to achieve. Revive this child's can-do feeling, the feeling that you will overcome all obstacles and as you come to know that you are the master of your life, you can set your goals, follow through and make it happen with no excuses.


Belief # 3 - I choose to succeed. The most successful people do the successful things because they choose to do them. They have a high need for self determination and that's what they use to succeed. The more successful a person is, the more likely that is to be true.
When we do what we choose to do we are committed, when we do what we have to do we are merely compliant. Successful people have a great distaste for the feeling of being controlled or manipulated.
In psychology this is called cognitive dissonance. It refers to the disconnect between what we believe in our minds and what we experience or see in reality.


Belief # 4 - My successes will continue. Successful people have the mental attitude to think only of being successful. They are driven by the feeling that they must succeed in whatever they do.  All day long they have the focus and drive to see things through, they are infused with this idea through their veins and their brains so it becomes their mantra for success. It's what successful people are telling themselves all the time.

You now have the four beliefs to guide you from life ordinary to a much more fulfilling one.

Finally, we can all rely on the highest power, the supreme being, just like most gurus and modern day sages write. All this will not get us results if we don't try to follow them.

I can only tell you what I know, and what most of us know is of the existence in this world of GOD that can help lead us to our dreams,  if we know how to ask Him for them. One of my books will help you to understand the secret of the keys, where we can get what we want and how to go about getting it. The book below will become your companion and tool to lead you to a life of discovery and fulfilment. You can find it on Amazon.com book store.

You can find this book vie this link:   http://tinyurl.com/jdtou4c






Compiled by: Kay Eve

Business Outsourcing

What is it?

Outsourcing marketplaces are where you can get your work done without having to employ permanent full or part time staff to do a specific work task for you.
All the work tasks required by you can be carried out away from your premise or even your country. Outsourcing can be done anywhere in the world where freelancers can be reached by the internet.

There are many benefits to hiring freelancers, cost reduction and economies of scale are compelling reasons for outsourcing tasks. 
Despite all the advantages, if you don't ask the right questions, you may start the relationship on the wrong foot.

Outsourcing marketplaces now make it possible to hire professionals from across the globe. With a few clicks, you could be chatting with freelancers from Argentina, India and The Philippines.

Often when entrepreneurs are first starting out, they turn to freelancers to carry out tasks, rather than full-time employees. This strategy tends to be cheaper, requires less paperwork and on bonding time.
As you’ll find tons of freelancers from all over the world with a wide range of skills. They sound like the perfect solution for all your freelancing needs, but it’s not all sunshine and rainbows.
You may find that the best source of freelancers is your local community. 
Unless you live in the remotest of places, you’re likely to have some developers in a 50-mile radius looking for work. Local freelancers can be found in meet up groups, chambers of commerce, business networking groups and groups that provide support to entrepreneurs. Ask other business owners who they’ve used. Maybe check around the coffee shop for someone using a computer with cryptic stickers covering the case.

Web developer rates in the U.S .generally range from about $40 an hour up to $300 an hour -- and beyond.

But evaluating quotes just based on price can be counterproductive. It assumes that the time and effort of the freelancer is what you want to buy. Most likely, you instead want to attain some result from the service being offered.

An astute freelancer will realise this and change the conversation accordingly. They will dig deeper into your business, wanting to understand more than just your specifications for this project. They will want to understand how this project will impact your business and what other ways they could add value based on the way your business works. They will sell you on the results rather than on the process.

Even if you have the advantage of meeting your freelancer, it’s a good idea to give them a relatively small job for starters just to be sure you can work well together. Shave off a small piece of the overall project and give them that first as something of an insurance policy.

Keep in mind that most people (including online workers) tend to operate within their own local time zones. Inquiring about normal business hours is an important step for both parties. Setting realistic expectations can be useful in evaluating fit, but it is also important for minimizing friction in the future.

Depending on the work being done, it is possible to maintain healthy virtual relationships when operating on completely different schedules. However, this can only be done when both you and the freelancer understand the arrangement.

You’ll have to try it for yourself to learn the rest. Your experiences will be unique and will shape the wisdom you take away from the bargaining table and into the next freelancer you hire.

Most freelancing contracts fall into one of two categories: hourly or fixed-price. Either arrangement can be beneficial, but it often depends on the work being done. For example, if you’re hiring someone to redesign your logo, it may be wise to push for a set budget. On the other hand, if you need a consultant to provide multi-faceted support, hourly is probably a better option.

Keep in mind that many freelancers, especially some in certain cultures, tend to promote themselves as generalists. For example, a marketer may claim to have expertise in graphic design, blogging, social media, email marketing and project management. In my experience, there are actually very few contractors who truly excel in all of these areas. Avoid this issue by asking candidates what they enjoy doing (or prefer not to do). If you never ask, you may not find out until it’s too late.

Here are some of the most frequently freelanced areas around:

• Accountant/bookkeeper
• Appraiser
• Computer programmer
• Corporate event planner
• Data entry/processor
• Editor/copy editor
• Financial planner
• Grant writer
• Graphic designer
• Interior designer
• Landscape architect
• Package design
• Photographer
• Professional organizer
• Sales/marketing consultant
• Telemarketer
• Translator/interpreter
• Tutoring
• Web designer
• Writer

Don't assume your expectations are already known by every freelancer. Instead,ask the right questions before making a hiring decision. 

In doing so, you will set the groundwork for better relationships and more profitable outsourcing.

Refs: M Keener, D Campbell, Entrepreneur

Saj P: Who Wants To Be A Dotcom Millionaire?

http://track.mobetrack.com/SH95d

When you “license” someone’s product, you pay for the rights to sell that product and keep the money instead of just getting a portion. So instead of getting 50% as a regular affiliate, you can get 90% commissions as a licensed partner. 
So why do you get 90% instead of the full 100%?

Now, this licensing model is infinitely better than any other “online marketing” model because everything is DONE FOR YOU and you still get all the benefits–and commissions–from a successful business with a proven product line.
In fact, this licensing model works so well that is has resulted in over $10 MILLION in commissions paid out to MOBE partners.

And here are two VERY successful partners, John Chow and Terry Lamb, having commission
checks for $1,079,592 and $225,813 respectively.
Here’s everything you get when you join MLR (MOBE License Rights Program) …
Lifetime License Rights To MOBE Best-Selling Products ($10,000 value)
50-90% Commissions On Front-End Sales & Up To $1,200 On Backend Sales
Daily Training Webinars
Four of MOBE Most Popular Programs For Your Personal Library

Find out the Real Truth and Don't be left behind on your own!!


http://track.mobetrack.com/SH95d



Forward By: Kay Eve

Why You Should Join The Mobe Revolution

 
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How average people with no prior experience online are depositing $1,250, $3,300, and even $5,500 commissions

A simple 21 step system taking you through the master plan to massive paydays with ease

The secrets behind how the system has generated over $25 Million in the last 12 months

How you can easily tap into this system in just a matter of minutes

All this and much MUCH more!

Amazing how you will learn the systems to become a Financial Freedom in the year to come!!!


Forwarded by: Kay Eve