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2012/01/04

Why You Should Have A Merchant Account

If you have been running a web-based business successfully without the use of a merchant account, you may wonder why it is necessary to have a merchant account and all. After all, you can accept checks or money orders via snail mail; therefore, you may ask yourself, "Why should I bother with the hassles of signing up for a merchant account?" Nevertheless, you would be surprised to find that there are myriad benefits in having a merchant account; in fact, making more money through your Internet business is just one of them.

First, in not having a merchant account, you are severely limiting the amount of income that you can make from your online business. For example, with a merchant account you can accept MasterCard, Visa, Discover, and American Express once your initial application is approved. In the case of the latter, you will be required to fill out a separate application for American Express approval.

The approval process for a merchant account is usually five to seven days and the wait is well worth it; once you are approved immediately increase the type of payments you can receive and therefore increase the number of clients who were willing to buy your products online.

The most obvious place to get a merchant account is from your local bank. Simply stop and your local bank or visit the bank where you hold a checking or savings account and speak to one of the bank representatives about their merchant accounts. Conversely, your local bank will probably be more than willing to send you brochures or pamphlets that describe their merchant account programs in great detail.

When you are looking to apply for a merchant account with a local bank it is a good idea to ear in mind that if you already have an existing account with a bank, that bank will probably be more willing to provide you with a merchant account based on their experience with you as an existing customer. If you have exhibited responsible behavior with an existing checking account of loan with an institution, the bank is quite liable to take such information into consideration when determining your eligibility for a merchant account.





Having a merchant account also keeps you at an even keel with your competitors. By simply researching the competition, you will soon find that many of your competitors have merchant accounts as a payment method for customers. The reason that your competitors maintain a merchant account is to primarily provide an added convenience for customers desire to pay by credit card. Not only is the authorization process fast, but allows the customer to place their order in the fashion that they've grown accustomed to while paying for their purchases.

Another added benefit derived from having a merchant pertains to this simplification of record-keeping. Let's face it, when it comes to paying taxes no one considers it a good time. Nevertheless, paying taxes a necessary evil and it pays to be well organized when tax season comes around. With the detailed monthly statements that you receive with a merchant account, you can access your expense records quickly and easily.

Many merchant account suppliers offer software applications with their merchant account program that will allow you to improve the look of your website. For example, you can add a shopping cart to website or the ever popular "buy now "buttons. Such graphics give your website professionally designed to look and help your website appear easy to navigate and user-friendly: if customers find your website user-friendly they're more likely to return again and again.

2011/12/31

If you are in sales do you carry a flashlight

Many years ago I attended a sales workshop in Arizona. It didn't take much to convince me to leave Toronto Canada in the middle of winter and go to Scottsdale. Little did I know how much that trip would change my outlook on selling.

Let me digress for a moment. Upon arrival at the hotel I was immediately impressed. A beautiful setting, first class service, lovely room, and sun, lots of warm sunshine! The next day, regrettably we were indoors for the first of three days in a meeting room, 17 of us, indoors in Scottsdale. On the breaks many of us would rush to stand outside and enjoy the sun. It was on one of these breaks we were standing at a side entrance to the hotel when a large number of very tall men approached. Now I'm not a tall person. I stand 5'7" first thing in the morning before gravity sets in. Turns out these "giants" were the San Antonio Spurs basketball team in town to play the Phoenix Suns. They were using a side entrance to avoid fans at the front of the hotel. I don't think I came up to the belly button of one of them!

But back to the sales workshop. Our facilitator had a captivating Texan drawl, causing me to listen intently to his stories and tips based on years of experience. The content was terrific, the group really bonded, and the three days evaporated. Towards the end of the final day I just had to ask a question of our workshop leader who had so impressed all of us. I was about to have one of those "ah huh" moments in life.

I asked "If you could share only one piece of advice on how to be a top sales person what would that be?" I'll never forget as he went into a pensive stance, holding his elbow while putting his forefinger to his lips, "What a tough question." He then paused for maybe a minute or two, it seemed longer.





What he shared was so profound I have added it to my repertoire of sales truisms. It has shaped my philosophy and behavior ever since. He started by cautioning us that in the sales profession we run the risk of developing egos bigger than the moon. Top sales people think of themselves as super stars and want to be in the spotlight. Confidence he said is a good thing, and recognition at the appropriate time and place is important in fact necessary, but an unchecked ego can do damage. And here it came, he paused and with conviction added, "If there is only one piece of advice I'd ask you remember, it is to always shine the spotlight on your customer. They are the most important person, not you!" The room went silent. Our egos on pause, we reflected hard on what we just heard.

For some reason my thoughts turned to the Spurs who, two days earlier had walked past us. They play under the spotlight all the time. Fans pay to enjoy their athletic excellence on the court. We want them to be in the spotlight, we want them to succeed, and we want them to play to win.

In sales, we're not playing basketball. It's a different game, and it's one of the best games in the world. If the sales arena is where you play and you want to win, remember these words of wisdom.

Always shine the spotlight on your customer.

2011/12/23

Why Business Credit Is A MUST For Every Business Owner

As an entrepreneur, you're hardwired to enjoy a greater level of risk than the average person. But do you enjoy the thrill of business and investing so much that you're willing to risk:

-Being hounded by creditors?
-Declaring bankruptcy?
-Being denied a mortgage?
-Paying more than your fair share of interest on your loans?
-Losing your house?

If you answered "no" to one or more of these questions, this may be the most important report you've read in a long time.

Because, if you're like most entrepreneurs, investors, and business owners I've met over the past 28 years, you're in danger of facing all of these horrific problems.

And it's all because of your business.

You see, entrepreneurs typically make one or more financially devastating mistakes when financing the launch, operation and/or growth of their businesses. In most cases, they don't realize that they're making a mistake.

And to tell the truth, even when they do realize they're making a mistake … they lull themselves into thinking that the consequences will be a minor annoyance.

Until, one day, they can't qualify for a mortgage. Or they can't get the to-die-for financing offered on the new car they're buying. Or they're hounded by creditors and eventually have to declare bankruptcy.

And it is all because they use their personal finances to fund the launch or expansion of their business. They then use personal credit cards to pay for business expenses. If you are in business or thinking about starting a business, business credit is a must.





Let me explain, most business owner have no idea that they can establish business credit and even fewer know how to how to establish business credit. If owners would take the time necessary to educate themselves about establishing credit they would no longer have to use their personal funds for start up capital or working capital.

They would also be able to use business credit cards which don't report to their personal credit reports, therefore, not lowering the personal credit scores.

The most important goal of business credit though is to obtain unsecured business lines of credit, which can be done once the business credit profile is set up properly. Once a business obtains unsecured business lines of credit, they then have the working capital they need to start a business or expand their business. The business owner has check book control to use the business lines of credit as they wish. And best of all, the business lines of credit don't report to the business owner's personal credit report.

If you have set up your business profile correctly there are a number of banks that will lend to brand new start up business. That is right, brand new start up business with no track record whatsoever. The banks will extend unsecured business lines of credit so they can have the start up capital they need to finance the business of their dreams.

Make no mistake about it; business credit is a MUST for every business owner. Don't put your personal assets at risk finance or fund your business!

2011/12/04

Work At Home Internet Job - At The Speed Of Electricity

I'm a pretty average gal. I kind of do my own thing of which some seem relatively productive and others not so much. And a lot like other people, and I guess different from others then, I have a lot of different interests. I'm a full subscriber to the variety being the spice of life adage. With so many interests (some even approach full-blown passion), you'd think that it'd be fairly easy to find myself a job that put food on the table clothes on my back and left a little in my pocket for weekend skullduggery; and I mean something that really tickled my fancy and had me jumping out of bed five minutes before my alarm goes off. But that simply has not been the case. It may not help that a large slice of these interests are Caligulan in nature. Not only do I digress, I also have reason to believe that one of these interests may be piqued with paycheck in tow.

Work at home online jobs has got my name written all over it. Granted, I'm not exactly sure what these employers from the heavens are wanting me to do online, as there a fairly wide variety of topics covered. But, that's besides the point. What I'm talking about is waking up, or not even going to sleep, rolling over and that right there is me punching in-if I qualify for my work at home online job.

So, if you'd prefer to continue doing what you've been doing while procrastinating your actual job search and take home a couple of dollars, grab yourself an online job and work at home. You'll be searching, browsing and exploring the internet just like you do now, but probably with slightly greater restrictions than your current fear of breaking federal laws provides.

2011/11/24

UAE's Lady Achievers And Newsmakers

Arab societies have always been patriarchal in nature. The prevalence of strict Islam makes them male dominated in all walks of life. Despite the modern face lift of their infrastructure and economies they have had, most Arab countries are still adamant when it comes to providing their women with equal opportunities as men. For example, in a country like UAE, which has a high level of female education, the ratio of female participation in the workforce is still very low. As per the officially made available data, about 65% of the UAE's university students were females, but their participation in the country's workforce was only around 15%.

This might be about to change however, if the recent trends from media and various government resources had to be believed in. With a booming economy and increased job opportunities, the UAE government was trying out its best to empower their women with higher education and job placements. This has given rise to a sudden influx of the local women applying for jobs in various professions. One could see as a result, many young and confident Arab ladies taking up responsibilities on various fronts in the UAE today. From being radiologists to TV presenters or managing online ventures, the UAE's women are moving forward in all spheres gradually.

Like any other region of the Middle East, it's deemed highly inappropriate for the UAE's women to speak up with strangers in public. All government owned universities have been made single-sex for this reason. With a bullish economy and a large expatriate workforce in their own backyard however, people are now trying to come out of their orthodox mindset. This has now allowed for the women to work with their male colleagues in places like Dubai. The local media proudly keeps on displaying the achievements of lady police officers, medicos, businesswomen and other similar working women.





Take the case of Fatma Mohamed Haj (21) for example, who had to face a stiff resistance from her family when she decided to be a radiologist. Her profession would have asked for touching male strangers and working late at nights. She won her argument by negotiating tactfully though, and is headed to get her first job very soon. Similarly, Nariman al-Rostamani (19), used to face taunting men in public, but it only grew her into confidence, and made her task as a TV presenter more interesting. There are many young women who still can't argue their cases with their families and therefore, may never get to have a public profile ever. However, the few like Fatma and Nariman are enough for creating a stir in the UAE's life and pushing forward with the empowerment agenda.

Amna Mazam is a student counselor who teaches working women about negotiating skills. It comes handy in getting family's nod for job placements. She confirms about the difficulties faced by the working women in the UAE, however feels positive about tomorrow at the same time. While many males do still not like the idea of working wives, there are some who might be willing to move ahead with time. An IT student, Fahad Qahtani (25), believes working wives can be a good idea for husbands as they won't annoy by chattering about domestic issues. Jokes apart, Fahad's opinion does indicate about the changing times in the UAE, and the future ahead for its aspiring women.

2011/11/16

Working At Home? This May Help...

When you work from home, one of the hardest things to get right is knowing where to do your work. In your bedroom? In a special home office? Well, here are a few pointers.

A Dedicated Space is Best.

I really believe that you won't get far unless you set aside a space and use it for work only. Why? Well, if you use your work space for things other than work, then you'll get distracted by anything you leave there. Other people in the family might become frustrated by not being able to use the space, or you might find that you simply don't have anywhere to put all the important pieces of paper you acquire, meaning that they get lost.

The Art of the Home Office.

A home office is really what you want -- this really needs to be a dedicated room of a reasonable size. You shouldn't have too much trouble if you convert a small bedroom, as most bedrooms are actually surprisingly large once you take away the bed.

Your essentials for a home office are a desk, chair, computer, filing cabinet and phone/fax. If you don't have spare ones of these lying around then you should buy them used, or from some kind of discount store -- don't spend a cent more than you need to on your office furniture and equipment, at least to begin with. Still, though, do try to find things that don't look too bad, and that match.

Do make sure that you have everything in the room that you'll need for your business, and that your equipment is good enough that you'll be able to use it for long periods of time without it becoming painful. If you plan to do a lot of phoning, for example, buy a headset so that you can do it hands-free. It's also worth spending just a little extra on that chair, if you're going to be sitting on it a lot.

You should also make sure that the room is well-lit and decorated in a style you like: one that says 'serious', but not 'dull, terrible work'. Keep it at a comfortable temperature, with good ventilation. Many people like to make their home office visibly different to the rest of their house, by having a differently-coloured carpet or wooden floor, or painting the walls an entirely different colour. Whatever you do, though, I have no doubt that it'll be better than 99% of the corporate offices out there. The most important thing is that you don't spend too much, but that you make sure to solve any problems you have with your space as soon as they come up.<





A Whole Other Building.

One thing that some people like to do when they set up home offices is to make it completely separate from their house: a business annex. This could be expensive -- for goodness' sake don't build a whole other building if you don't have something like a shed or garage to convert -- but it is also one of the most effective ways to work from home. It's not so much a 'home office' as an office that you've built right next to your home -- and it gives you a much clearer sense of when you're working and when you're not.

This option is especially worth considering if you do a manual trade, especially if you already have some kind of workshop space. I knew a carpenter who saved himself all sorts of headaches when he moved his home office away from his bedroom and into his existing workshop in his garage.

A Question of Tax.

When you're organising your home office, don't forget about tax. The area of your house that you do business in should be tax-deductible, and so should any equipment you buy or other work you have done. Don't use it as an excuse to get carried away, but do remember that you're not spending quite as much as you think. As long as you don't go overboard, your home office will be one of the most important investments you will make -- as anyone who's ever tried to work from home without one can tell you.

2011/11/03

How You Can Create Advertising That Sells...

A well-planned and properly executed marketing program should include a sufficient commitment of capital resources to an ongoing, well executed advertising program. Yes, this includes your business.

Businesses spend too many dollars, however, on ads that simply will not result in increased sales and profits. These ads are poorly conceived, poorly written, poorly designed, poorly targeted, and poorly placed.

Sounds like a poor way to do business, doesn't it?

I often ask clients (as tactfully as possible), why they have run a particular ad. I get a lot of blank stares. A few tense moments will pass while the client tries to think of a clever answer. "To get the company name out in front of the public so I can get more business." they reply, with some relief.

This poor soul has just described a lack of a well defined goal, which leads almost inevitably to what I call an institutional ad. An institutional ad can best be described as one which identifies the advertiser and lists address, telephone number, hours of operation, and (maybe) the company logo. That's it. What a terrible waste of money!

Unless your company grosses a billion dollars a year, you can't afford to do institutional ads. If your company does gross over a billion dollars a year...you're probably too smart to run institutional ads.

Every ad you run must result in increased sales and profits and an enhanced image for your company. Every ad should make the customer a solid offer and give the customer sound reasons to buy from you now. Remember, the customer is sitting back and asking, "What can you do for me?" If you're careful to answer that question with a powerful offer and reasons to buy now, you're on your way to advertising success...which results in increased sales and profits.

How can you improve your chances of increasing sales?

Let's look at some profit-producing ideas...

SEEK PROFESSIONAL HELP
Very few businesses are prepared or qualified to produce quality advertising. If you spend more than $2,000 per month in advertising, you should seriously consider hiring a qualified advertising professional. There are any number of skilled freelancers who can develop strategy, and create your marketing materials with a keen eye to using proven methods and techniques.

Good advertising talent always pays it's own way through increased sales and profits, improved cost-effectiveness, reduced selling costs, and shortened selling cycles.

If your resources are limited, don't feel lost. There's no reason why you can't learn to write an effective ad. That's what the rest of this article is all about...how you can create advertising that sells.

FOLLOW A PROVEN FORMULA
One of the oldest and most useful formulas for ad design takes its name from the opera Aida by Giuseppe Verde. In this case the letters A-I-D-A stand for ATTENTION, INTEREST, DESIRE, AND ACTION.

In it's simplest form this formula serves as a structural blueprint. It guides us to: (1) Get the prospect's Attention, (2) Foster his or her Interest in your offer, (3) build Desire for your product or service and (4) Generate some type of Action on the part of the buyer.

As we expand on each of these elements individually, you'll discover for yourself how to apply the formula to your specific situation.

ATTENTION (The Headline)

Hit your prospect right between the eyes with a magic wand. How? With a powerful benefit headline. The headline is the most important single element of your ad. You have two to three seconds to stop the reader as he or she passes by. You must stop the reader, and interest them in your benefit, if you expect them to read further.

A powerful headline will (1) stop the reader (2) isolate and qualify your best prospects, and (3) pull your reader into the sub-heads and body copy.





How do you write the attention-getting headline? First, carefully review all the benefits of-use of your product or service. Second, take your most important benefit and weave that benefit into your headline. Use action words to describe the benefit to one individual reader.

Here are some examples...

"Save 50% On Office Supplies...Send For Your Free Catalog Today !"

"How YOU Can Create Advertising That SELLS!"

"New! Amazing Techniques That You Can Use To Land A High-Paying Job...Today!"

"How To Design Profit-Producing Web Sites That SELL!"

APPEALING TO BUSINESS EXECUTIVES

When writing your ad to a business-to-business audience you should keep in mind the six key benefits most likely to get attention:

1.Save Money 2.Save Time 3.Increase Sales 4.Increase Profits 5.Enhance Image 6.Boost cash flow

Most other benefits are subordinate to these key six. I call them the"Business Benefit Six-Pack." Show your customer how your product or service provides these benefits, and you will dramatically improve your results.

INTEREST AND DESIRE> (The Offer, Body Copy, Benefits-Benefits- Benefits)

You build interest in your product or service (and the desire to buy) by making the customer a compelling offer and by describing as many benefits as possible in simple and interesting terms.

Tip # 1: Top ad pros always write the ad first, then buy whatever space necessary to display the ad message with clarity and power.

Tip # 2: Words sell...graphic design displays the words in a visually appealing way. Don't confuse the two. No amount of trendy design will make a poorly written ad sell for you. Good design reinforces good copy...it cannot take the place of it! The implication for internet marketers is that content is king. Avoid glitsy, moving graphics that only distract from your message and increase load times. Good design and good copy should work synergistically.

Tip #3: Long copy sells...as long as it's good copy. I call it "greased slide" copy. You get the reader on the top of the slide when he reads a powerful headline, and he can't get off until he has taken the action asked for (i.e., ordered the product, made the trip to the store, dialed the phone, clicked the order/inquiry button, filled out the on-line order, etc.).

ACTION(Ask For The Order)

Now comes the moment of truth. You must ask for the order. Give reasons for the customer to buy now...and make it easy for him to do so. In direct response marketing, this will involve a coupon for mail orders, a toll-free order line, an e-mail address, an on-line order form, a fax order line..any means to make it easy and simple to order!

Take the fear out of the purchase. Give solid guarantees. Offer secure ordering for on-line customers. Show testimonials from satisfied customers.

Show what the customer is going to lose if he doesn't order now.

If you are a retailer, include a map to your store(s) (newcomers love them). Show the credit cards you accept, list the hours of operation, tell them about your friendly staff, include a special coupon or other incentive. In other words, "Roll out the red carpet."

INVEST IN FUTURE PROFITS

So there you have it. A primer on good advertising. If I've piqued your interest to learn more, then check out the other articles available at this resource.

Remember, bad advertising...no matter what the media...is an unproductive expense.

Good advertising is an investment in future profits!

Good advertising and good management go together. You can't have a successful business on-line or off-line---without both.