Applying for a phone line for your business is not easy. Telephone companies will offer you different packages with all sorts of premiums, solutions and extensive features, at different rates and special prices – it's enough to drive you mad. To hold confusion off, here are some important call solutions and features offered by telecoms and why you should use them.
Time/Date Plan – This is a great feature that enables you to set the hours in which you are to receive calls at a particular time; for example, on a weekday, all calls from 9:00 am to 5:00 pm go to your office, and then redirect your calls to your home on the weekend or your grandmother's house, especially if you're expecting an important deal to come through.
Divert Plan – Whether or not you've scheduled your calls to go to a particular phone line, you may use the divert plan to divert to another phone if the main line that you use is busy or if no one is around to answer the call. This function can usually be set for the phone to automatically divert calls after three or more rings, or however many rings you wish, that go unanswered. With a divert plan, you may divert your calls to two or three back-up phones, or to your voicemail. Most telephone companies will offer different solutions to check your voicemail, such as the next popular feature…
Voicemail to email – Smart telecoms offer the voicemail to email feature to accompany the Time/Date plan and the Divert plan, by letting you choose to receive calls through voicemail and then automatically mailing the message as a wav file to your specified email account, waiting until you're ready to hear it.
Web-based management – With the help of current technology, you will be able to change the set up of your phone line and package through the Internet, accessible at any time, in real time. Web management is considered a special feature as it is not offered by many companies, nor available in low-cost phone line packages.
Virtual receptionist – This is like having a live secretary answering your calls and accommodating your customer. Of course, it is just a professional-sounding voice recording that welcomes the caller to your business or firm and gives choices of which department the caller would like to get in touch with, or what service the caller would like to make use of. The customer then selects the department or service of choice using the keypad.
Call Queue – You must have come across this function while placing your own call to a company; your call is answered by a voice recording that lets you know that all operators are busy at the moment and places you on hold. Whilst 'holding,' music will play to fill the waiting vacuum. Normally, the call is sent across the call centre to ensure that your call will be answered immediately. However, if there is no one to receive the call, the call gets "stacked," waiting to run through the call centre once again until someone is able to receive your call. You have the option with what type of music to play during the call queue, or you may even play marketing messages, advertising or even special offers.
Some phone packages will have all of these, others will have them in different combinations. Now you're clear on which features you would like to have, choosing a telephone package for your business should now be a lot simpler.
About The Author
Derek Rogers is a freelance writer who represents a number of UK businesses. For telephone services, he recommends Telecoms World, one of the UK's leading suppliers of http://www.telecomsworldplc.co.uk/ telephone services.
Jumat, 31 Oktober 2008
What Is So Great About 0800 Numbers? by: Derek Rogers
0800 numbers are freephone numbers, which you can use at a reasonable rate so that your customers and potential customers can call your business for free. It's great for your business because it assures the caller that they can contact you at no cost to them, giving an added bonus to subscribing to your service. Having an 0800 number translates to having a low-cost, easy and effective marketing device – they're easy to remember and the customers are relieved from spending on a phone call to contract business with you.
Sales reports have shown that businesses with 0800 and similar freephone numbers have shown an increase in customer response to advertising, ranging from 50% to even a whopping 300%. Freephone numbers also give your business a more professional front, that if you spend extra to offer a free call-in service to your customers, you extend equally high quality work. What's more, the service is free whether your customer calls from their standard BT landline during peak hours, in the evenings or on the weekend. 0800 freephone numbers are also able to receive international calls.
Other freephone numbers that you can use are 0808 and 0845, with each number group coming in different planner packages. The Standard package is set at a monthly line rental of £4.95, with the connection fee waived and an additional 500 free minutes per month. There are also Bronze, Silver, Gold and Platinum package planners, whose monthly rental and connection fees become more expensive respectively, but so do their free minutes. Also, the numbers with easier recall can be found in the Bronze, Silver, Gold and Platinum planner packages. Although 0808 numbers are not as popular and easy to memorize as 0800 numbers, the 0808 numbers compensate by waiving the connection fee for all packages.
0844 are not freephone lines, charging your customers lower rates whilst your monthly rentals are free after paying the connection fee (for Bronze, Silver, Gold and Platinum packages). What happens is the telecom provides you a phone line that other people - your customers - will pay for.
0870, 0871 are not free numbers either, and like 0844 and 0845 numbers, they charge your customers lower rates at no cost to you on monthly rental charges. The revenue you generate from your customers will also make you some money as well, as the telecom pays you up to 2p, for 0870 numbers, and up to 6p, for 0971 numbers, for each call you make. You'll actually be making money from your phone line. 0871 numbers pay 5p per minute for customers using up to 200,000 minutes per month, and 6p per minute for up to 300,000 minutes. Your customers pay lower rates to call your business, and the telecom shares a percentage of the revenue with you - everyone should be quite pleased.
07077 numbers work like 0844 numbers except the 07077 numbers have a special function called the "Follow Me Service," which allows you to control and redirect your calls to your home, mobile or another phone line by remote. You can change the destination of your calls wherever you may be for free when signed up to the standard package, and for only the cost of the connection fee for the other more sophisticated packages.
Whichever numbers you use, you'll find your business benefiting a great deal.
About The Author
Derek Rogers is a freelance writer who represents a number of UK businesses. For telephone services, he recommends Telecoms World, one of the UK's leading suppliers of 0800 numbers: http://www.telecomsworldplc.co.uk/0800-numbers.asp
Sales reports have shown that businesses with 0800 and similar freephone numbers have shown an increase in customer response to advertising, ranging from 50% to even a whopping 300%. Freephone numbers also give your business a more professional front, that if you spend extra to offer a free call-in service to your customers, you extend equally high quality work. What's more, the service is free whether your customer calls from their standard BT landline during peak hours, in the evenings or on the weekend. 0800 freephone numbers are also able to receive international calls.
Other freephone numbers that you can use are 0808 and 0845, with each number group coming in different planner packages. The Standard package is set at a monthly line rental of £4.95, with the connection fee waived and an additional 500 free minutes per month. There are also Bronze, Silver, Gold and Platinum package planners, whose monthly rental and connection fees become more expensive respectively, but so do their free minutes. Also, the numbers with easier recall can be found in the Bronze, Silver, Gold and Platinum planner packages. Although 0808 numbers are not as popular and easy to memorize as 0800 numbers, the 0808 numbers compensate by waiving the connection fee for all packages.
0844 are not freephone lines, charging your customers lower rates whilst your monthly rentals are free after paying the connection fee (for Bronze, Silver, Gold and Platinum packages). What happens is the telecom provides you a phone line that other people - your customers - will pay for.
0870, 0871 are not free numbers either, and like 0844 and 0845 numbers, they charge your customers lower rates at no cost to you on monthly rental charges. The revenue you generate from your customers will also make you some money as well, as the telecom pays you up to 2p, for 0870 numbers, and up to 6p, for 0971 numbers, for each call you make. You'll actually be making money from your phone line. 0871 numbers pay 5p per minute for customers using up to 200,000 minutes per month, and 6p per minute for up to 300,000 minutes. Your customers pay lower rates to call your business, and the telecom shares a percentage of the revenue with you - everyone should be quite pleased.
07077 numbers work like 0844 numbers except the 07077 numbers have a special function called the "Follow Me Service," which allows you to control and redirect your calls to your home, mobile or another phone line by remote. You can change the destination of your calls wherever you may be for free when signed up to the standard package, and for only the cost of the connection fee for the other more sophisticated packages.
Whichever numbers you use, you'll find your business benefiting a great deal.
About The Author
Derek Rogers is a freelance writer who represents a number of UK businesses. For telephone services, he recommends Telecoms World, one of the UK's leading suppliers of 0800 numbers: http://www.telecomsworldplc.co.uk/0800-numbers.asp
How Freephone Numbers Can Benefit Your Business by: Derek Rogers
Freephone telephone numbers can be of great benefit to businesses, both large and small in size. They are a way of attracting new customers which increases sales of products and services, help to retain existing customers and generally gives the company a more serious look to the outside world. There are many providers of freephone telephone numbers and by finding the right provider it is also possible for a business to save money through this number.
One of the reasons that a freephone telephone number is so beneficial to businesses is that it gives all customers, both existing and potential, an opportunity to reach the company. Even if someone does not have a long distance calling plan it will be possible to call up a certain business and not have to pay any cost for that. This is a great way of attracting people and persuading them to purchase a product being sold or ordering a service offered. Being reachable has proven to be a very effective marketing strategy and any costs that are involved with owning a freephone telephone number will be quickly replaced by the higher number of sales.
Potential customers that want to inquire about a particular product can also use this number to contact the company and inform themselves. Any questions can be asked and there is no chance of the customer hanging up worried about a potentially high and expensive phone bill. A customer will also not have to call with a phone card that may run out of credit which will result in the phone call and sale being lost.
Advertising can also be made more attractive and effective if a freephone telephone number is included. Having a number that customers can call free of charge gives the impression of being serious and successful an this leads people to believe that a business is then a leader in their industry. That is a great sales boost and all because of a simple technique and investing a little more for the phone provider. Since advertising is a major expense of any larger size company or company just started it is best to make the most out of your money. A freephone telephone number can maximize what you get back from your advertising expenses.
Keeping existing customers is also an advantage that can be gained by using a freephone telephone number. It gives the customers a chance to make inquiries, ask for customer support or just give feedback and order services or products. It is very convenient and not even necessarily expensive since the business providing a freephone telephone number can determine which countries and lines are able to call the number up. Anything else will have to be paid for by the other party.
A freephone telephone number is generally a good idea for all businesses to have. It is simple, not expensive and is very effective at attracting new customers and making sure that the existing ones remain satisfied and stay loyal for many years to come.
About The Author
Derek Rogers is a freelance writer who represents a number of UK businesses. For telephone services, he recommends Telecoms World, one of the UK's leading suppliers of http://www.telecomsworldplc.co.uk/ freephone telephone numbers.
One of the reasons that a freephone telephone number is so beneficial to businesses is that it gives all customers, both existing and potential, an opportunity to reach the company. Even if someone does not have a long distance calling plan it will be possible to call up a certain business and not have to pay any cost for that. This is a great way of attracting people and persuading them to purchase a product being sold or ordering a service offered. Being reachable has proven to be a very effective marketing strategy and any costs that are involved with owning a freephone telephone number will be quickly replaced by the higher number of sales.
Potential customers that want to inquire about a particular product can also use this number to contact the company and inform themselves. Any questions can be asked and there is no chance of the customer hanging up worried about a potentially high and expensive phone bill. A customer will also not have to call with a phone card that may run out of credit which will result in the phone call and sale being lost.
Advertising can also be made more attractive and effective if a freephone telephone number is included. Having a number that customers can call free of charge gives the impression of being serious and successful an this leads people to believe that a business is then a leader in their industry. That is a great sales boost and all because of a simple technique and investing a little more for the phone provider. Since advertising is a major expense of any larger size company or company just started it is best to make the most out of your money. A freephone telephone number can maximize what you get back from your advertising expenses.
Keeping existing customers is also an advantage that can be gained by using a freephone telephone number. It gives the customers a chance to make inquiries, ask for customer support or just give feedback and order services or products. It is very convenient and not even necessarily expensive since the business providing a freephone telephone number can determine which countries and lines are able to call the number up. Anything else will have to be paid for by the other party.
A freephone telephone number is generally a good idea for all businesses to have. It is simple, not expensive and is very effective at attracting new customers and making sure that the existing ones remain satisfied and stay loyal for many years to come.
About The Author
Derek Rogers is a freelance writer who represents a number of UK businesses. For telephone services, he recommends Telecoms World, one of the UK's leading suppliers of http://www.telecomsworldplc.co.uk/ freephone telephone numbers.
Commercial Bridging Loan: Commercial Set Up Made Easy by: Eva Baldwyn
Businessmen who are in need of money to provide a boost to their business may be thinking that getting the finance may be difficult. But if they look around well, they can get the opportunity easily and get the money through a commercial bridging loan. This will help them make their business run well again with the necessary changes made.
With this loan, the borrowers can fulfill all the requirements that happen and occur in their business. The money may be used for the payment of the labor force, buying raw material, setting up new machines, packaging costs, marketing etc. the borrowers may use up this loan for the already running business or even in a new business.
The borrowers are suggested to prepare a report about the business which states its aims and objectives, the expected revenue, costs, labor force, partnerships and ownerships etc. this is an important step so that the borrower can convince the lenders about the viability of the business and thereby get a lower rate deal for the money.
The secured and the unsecured form of this loan can be borrowed by the businessman according to his needs. For the former, an asset has to be pledged with the lender to get a bigger amount. The term of repayment for these loans is 5-25 years. For the unsecured form however, the borrowers will be able to get money but in a smaller amount and without pledging any assets with the lender. The time available to the borrower for repaying these loans is 6months to 10 years.
The borrower is suggested to research well for taking up these loans. This is because the borrower would not want any problem to arise in the future for his business so only those borrowers who have a good reputation should be considered for taking up these loans.
About The Author
Eva Baldwyn aims to inform common men and women of the several issues involved in personal loans and mortgages through her articles. To find Commercial Bridging Loan,bridging loan, residential bridging loan, personal bridging loan visit http://www.easybridgingloansuk.co.uk
With this loan, the borrowers can fulfill all the requirements that happen and occur in their business. The money may be used for the payment of the labor force, buying raw material, setting up new machines, packaging costs, marketing etc. the borrowers may use up this loan for the already running business or even in a new business.
The borrowers are suggested to prepare a report about the business which states its aims and objectives, the expected revenue, costs, labor force, partnerships and ownerships etc. this is an important step so that the borrower can convince the lenders about the viability of the business and thereby get a lower rate deal for the money.
The secured and the unsecured form of this loan can be borrowed by the businessman according to his needs. For the former, an asset has to be pledged with the lender to get a bigger amount. The term of repayment for these loans is 5-25 years. For the unsecured form however, the borrowers will be able to get money but in a smaller amount and without pledging any assets with the lender. The time available to the borrower for repaying these loans is 6months to 10 years.
The borrower is suggested to research well for taking up these loans. This is because the borrower would not want any problem to arise in the future for his business so only those borrowers who have a good reputation should be considered for taking up these loans.
About The Author
Eva Baldwyn aims to inform common men and women of the several issues involved in personal loans and mortgages through her articles. To find Commercial Bridging Loan,bridging loan, residential bridging loan, personal bridging loan visit http://www.easybridgingloansuk.co.uk
The 7 Deadly Sins Of Voice Mail To Watch Out For by: Jefferson Steelflex
Today, it seems more important than ever that we make the most of our business communication. And when we're selling, using voice mail is one of our most important tools.
By avoiding these 7-Deadly Sins of Voice Mail, you're giving yourself a much better chance of having your phone call returned by your customer.
SIN #1:
Your name isn't clear
This is perhaps the most common mistake made. After all - people are extremely familiar with their own names. But you should never make the assumption that your customer or prospect is. The most common problem is that people say their names too quickly and subsequently their first and last names tend to run together.
The Solution:
Slow down when you say your name. Experts advise you to put an audible pause between your first and last name. At first, this can feel strange and foreign to you - but with a little practice, the pause won't seem so bad. The key is to make 100% certain that the person on the other end of the phone knows both your first and last name.
Now your customer knows who you are.
SIN #2:
Your company name isn't descriptive enough
This one has become more of an issue since the age of the Internet. Unless you're working for a globally branded company, the chances are that most people won't know who your company is, or what it does. This is especially the case if you use an acronym for your company name.
The Solution:
Like your own name, say your company's name slowly and clearly. If your company's name is an acronym, consider saying the whole name. Or, at the very least, let people know what it is you do. For example, "I work for ABC Building Supplies, with the widest selection of building supplies in the northwest".
Now your customer knows who your company is and what your company does.
SIN #3:
No reason why you are calling
I see a lot of "old school" sales types who have a (wrong) belief that you should always try and keep your customers and prospects hidden in a cloud of mystery. The reality is - "mystery" might have worked 30 or 40 years ago, but today's savvy customer wants none of that. They are generally incredibly well informed and don't have the time or patience to play games.
The Solution:
Simply tell the person why you are calling. If you want to add more punch, then create a benefit statement that's compelling to the customer. Remember, it needs to be put in the form of a benefit to your customer - not you - for it to be compelling.
Now your customer knows why you are calling.
SIN #4:
No reference to another person or event
A lot of times when we're calling someone for the first time, simply saying your name and company generally won't mean a thing to them.
The Solution:
Chances are, if you're not calling someone "cold", then you have a person or a point of reference to use to jog that person's memory and further "soften" the call. Remember people are much more receptive when there is a common thread. It creates a personal connection. And creating that personal connection is the first step to building trust.
Now your customer personally connects with you.
SIN #5:
No time to call back
Often times, when we're making out-bound sales calls, we do them one-after-another. So if a person returns your call right away, they'll end up getting YOUR voice mail! The worst part about ignoring this sin - is that it inevitably leads to the "game of phone tag". Which is both time consuming and frustrating for all involved.
The Solution:
Leave your customers with a couple of options when you'll be available. While it won't eliminate "phone tag", it will considerably reduce the odds of it starting in the first place.
Now your customer the best time to call you back.
Sin #6:
Only leaving your name and number once
This sin is very common and very important. As strange as it may seem, when you leave a voice message, the chances of your customer forgetting your name by the end of the message are actually quite high. Most of the time people spend so much time and energy listening to the body of the message, that by the end of it, they've already forgotten your name. Making matters worse, people tend to rush through their phone number - again, like their name, because of their familiarity with it - and they generally say it once. This means that your customer often has to rewind and listen to your entire message multiple times to try and decipher what your name and number.
The Solution: Clearly re-state your name in the same way you did at the beginning of the message, thus reminding your customer who you are. Also, state your phone number clearly, two times. Saying your phone number twice will give your customer a chance to correctly write it down without having to rewind the message. If possible say it at the same speed that you would if someone was writing it down in front of you.
Now your customer knows who you are and how to contact you.
Sin #7: There is no warmth in the voice
A rushed voice mail lacking in personal warmth will not be received as well as one that has it. Remember, people want a personal connection - and having warmth in your voice is so much more appealing to your customers.
The Solution:
Smile. It really is that simple. Smile as you leave your voice mails. It's amazing and true - studies have shown that people can hear your smile. A smile conveys warmth and puts people at ease. So even though it may feel a little strange to smile at a phone while you're leaving a message on a machine - smile anyway. And if it helps, have a picture of a friend or loved one in front of you to help make it easier.
You may not be able to avoid these 7-Deadly Sins of Voice Mail all the time, but with a little practice, you'll be leaving a far better voice mail message.
Now it's time to get back to those phones!
About The Author
Jefferson Steelflex is a Sales Made Simple Coach, helps entrepreneurs aim higher and achieve more. The author is the author of the audio seminar, "The 20 Sales Secrets of Top Entrepreneurs". For more info: http://www.BetterSalesResults.com
By avoiding these 7-Deadly Sins of Voice Mail, you're giving yourself a much better chance of having your phone call returned by your customer.
SIN #1:
Your name isn't clear
This is perhaps the most common mistake made. After all - people are extremely familiar with their own names. But you should never make the assumption that your customer or prospect is. The most common problem is that people say their names too quickly and subsequently their first and last names tend to run together.
The Solution:
Slow down when you say your name. Experts advise you to put an audible pause between your first and last name. At first, this can feel strange and foreign to you - but with a little practice, the pause won't seem so bad. The key is to make 100% certain that the person on the other end of the phone knows both your first and last name.
Now your customer knows who you are.
SIN #2:
Your company name isn't descriptive enough
This one has become more of an issue since the age of the Internet. Unless you're working for a globally branded company, the chances are that most people won't know who your company is, or what it does. This is especially the case if you use an acronym for your company name.
The Solution:
Like your own name, say your company's name slowly and clearly. If your company's name is an acronym, consider saying the whole name. Or, at the very least, let people know what it is you do. For example, "I work for ABC Building Supplies, with the widest selection of building supplies in the northwest".
Now your customer knows who your company is and what your company does.
SIN #3:
No reason why you are calling
I see a lot of "old school" sales types who have a (wrong) belief that you should always try and keep your customers and prospects hidden in a cloud of mystery. The reality is - "mystery" might have worked 30 or 40 years ago, but today's savvy customer wants none of that. They are generally incredibly well informed and don't have the time or patience to play games.
The Solution:
Simply tell the person why you are calling. If you want to add more punch, then create a benefit statement that's compelling to the customer. Remember, it needs to be put in the form of a benefit to your customer - not you - for it to be compelling.
Now your customer knows why you are calling.
SIN #4:
No reference to another person or event
A lot of times when we're calling someone for the first time, simply saying your name and company generally won't mean a thing to them.
The Solution:
Chances are, if you're not calling someone "cold", then you have a person or a point of reference to use to jog that person's memory and further "soften" the call. Remember people are much more receptive when there is a common thread. It creates a personal connection. And creating that personal connection is the first step to building trust.
Now your customer personally connects with you.
SIN #5:
No time to call back
Often times, when we're making out-bound sales calls, we do them one-after-another. So if a person returns your call right away, they'll end up getting YOUR voice mail! The worst part about ignoring this sin - is that it inevitably leads to the "game of phone tag". Which is both time consuming and frustrating for all involved.
The Solution:
Leave your customers with a couple of options when you'll be available. While it won't eliminate "phone tag", it will considerably reduce the odds of it starting in the first place.
Now your customer the best time to call you back.
Sin #6:
Only leaving your name and number once
This sin is very common and very important. As strange as it may seem, when you leave a voice message, the chances of your customer forgetting your name by the end of the message are actually quite high. Most of the time people spend so much time and energy listening to the body of the message, that by the end of it, they've already forgotten your name. Making matters worse, people tend to rush through their phone number - again, like their name, because of their familiarity with it - and they generally say it once. This means that your customer often has to rewind and listen to your entire message multiple times to try and decipher what your name and number.
The Solution: Clearly re-state your name in the same way you did at the beginning of the message, thus reminding your customer who you are. Also, state your phone number clearly, two times. Saying your phone number twice will give your customer a chance to correctly write it down without having to rewind the message. If possible say it at the same speed that you would if someone was writing it down in front of you.
Now your customer knows who you are and how to contact you.
Sin #7: There is no warmth in the voice
A rushed voice mail lacking in personal warmth will not be received as well as one that has it. Remember, people want a personal connection - and having warmth in your voice is so much more appealing to your customers.
The Solution:
Smile. It really is that simple. Smile as you leave your voice mails. It's amazing and true - studies have shown that people can hear your smile. A smile conveys warmth and puts people at ease. So even though it may feel a little strange to smile at a phone while you're leaving a message on a machine - smile anyway. And if it helps, have a picture of a friend or loved one in front of you to help make it easier.
You may not be able to avoid these 7-Deadly Sins of Voice Mail all the time, but with a little practice, you'll be leaving a far better voice mail message.
Now it's time to get back to those phones!
About The Author
Jefferson Steelflex is a Sales Made Simple Coach, helps entrepreneurs aim higher and achieve more. The author is the author of the audio seminar, "The 20 Sales Secrets of Top Entrepreneurs". For more info: http://www.BetterSalesResults.com
Is It Possible To Create An Impossible Business? by: Jonathan Haryanto
Consultants, coaches, and other service professionals often start a business believing that all they need to do is charge a "reasonable" fee and sell "enough" of their time. Consultants hope to get an edge by claiming to be the fastest, best, or most experienced.
Tired superlatives in proposal include: Most, Superior, Best, Maximum, Optimal, Minimum, Fastest, Unsurpassed, Shortest, Unrivaled, Easiest, Highest, Least, Unique, clients routinely ignore such claims as unproven hype.
Nothing is intrinsically wrong with any of the preceding words, and we all use them in spoken and written communication (for example, "This is the fastest way to do that.") But in proposals, they are suspect, and you should use them sparingly, if at all. It's easy to think that any business can be successful if you work hard enough, but there are many situations where this just isn't so. But unless you do the math to prove or disprove your assumptions, you may be creating a business that can never succeed. Here's what can happen:
*Impossible Business #1 *Nancy was selling her services as an image consultant to individuals who wanted an updated or more professional look. She charged $75 per hour, which she thought was the most anyone would realistically pay to work with her. In most cases, she traveled to a client's home or went shopping with her client.
Including travel time and lunch meant that Nancy could only make two appointments in one day. The average appointment was two hours long. So the maximum amount Nancy could earn in one day turned out to be $300. But in order to earn that amount five days per week, Nancy would have to schedule ten different clients, all of whose schedules were able to adapt to whatever times she had available.
This was hopelessly unrealistic. Even if Nancy had been able to make the scheduling work, when would she have had the time to do the marketing required to land that many clients? It turned out that the maximum Nancy could really earn using this model was about $750 per week. After paying her taxes, she couldn't even cover her monthly living expenses
*Impossible Business #2 *Tom is a student who works as a software consultant for midsize company._ _ . He typically charged $80 per hour, and when he landed a contract, it often consisted of 25-100 billable hours.
Because Tom's earning capacity was so high and he disliked marketing, he spent a lot of money on marketing himself indirectly. He purchased display ads in industry journals and directories, mailed expensive brochures to large lists of prospects, paid to exhibit at trade shows, and hired a telemarketer to prospect for him. Tom also worked on contracts that came through agencies, who often took 25-35% of his earnings as their percentage.
Tom is earning as much as $90,000 per year, but he was losing about $15,000 per year in agency commissions, and spending $25,000 per year on marketing. In return for all his hard work, he was earning considerably less than he had at his last job.
*Making the Impossible Possible *New consultants, coaches, and other professionals almost always overestimate how much they can earn and underestimate the amount of time and money required to successfully market themselves. They also forget that they will have to cover not only their living costs and business expenses, but pay self-employment tax, buy their own health insurance, provide for their own retirement, and allow for unpaid vacation and sick time.
If Nancy or Tom had taken the time to sit down with a calculator before starting out in business, they would have quickly discovered that they were on the wrong track. But both of these businesses were able to be rescued.
Molly began selling her time by the day instead of by the hour. She offered her clients a full-day package that consisted of a wardrobe review and consultation in the morning and a shopping trip in the afternoon. By charging $400 per day and scheduling three clients per week, she could earn more than double than she did previously.
She also began offering a monthly one-day image workshop as a way of bringing in more income while giving prospective clients a chance to experience her work. The workshop became her main source of new clients, and marketing the workshop turned out to be easier than marketing her personal services.
Tom learned how to market himself less expensively through networking, speaking, and writing articles. Instead of buying booths at trade shows, he was showcased there as a presenter, and spent time networking with the other attendees. The same publications where he used to run ads now ran his articles. Rather than paying a telemarketer, he started picking up the lunch tab for people he thought could refer him some business.
As a result, his expenses for marketing and commissions dropped from $35,000 per year to $15,000. At the same time, his income rose to $125,000 per year, because as his visibility and reputation grew, his services were more in demand and he could command higher rates.
If earning a decent living as a self-employed professional sometimes seems impossible to you, start asking how it could be possible. What can you change about how you are marketing yourself, how much you are charging, and how you are packaging your services? While it could be that success will come if you just work a little harder, it's more likely that you first need to start working a little differently
About The Author
Jonathan Haryanto is owner of http://SpeedyOnlineProfit.com and writes on a variety of subjects. To learn more about this topic Jonathan recommends you visit: http://www.SpeedyOnlineProfit.com
Tired superlatives in proposal include: Most, Superior, Best, Maximum, Optimal, Minimum, Fastest, Unsurpassed, Shortest, Unrivaled, Easiest, Highest, Least, Unique, clients routinely ignore such claims as unproven hype.
Nothing is intrinsically wrong with any of the preceding words, and we all use them in spoken and written communication (for example, "This is the fastest way to do that.") But in proposals, they are suspect, and you should use them sparingly, if at all. It's easy to think that any business can be successful if you work hard enough, but there are many situations where this just isn't so. But unless you do the math to prove or disprove your assumptions, you may be creating a business that can never succeed. Here's what can happen:
*Impossible Business #1 *Nancy was selling her services as an image consultant to individuals who wanted an updated or more professional look. She charged $75 per hour, which she thought was the most anyone would realistically pay to work with her. In most cases, she traveled to a client's home or went shopping with her client.
Including travel time and lunch meant that Nancy could only make two appointments in one day. The average appointment was two hours long. So the maximum amount Nancy could earn in one day turned out to be $300. But in order to earn that amount five days per week, Nancy would have to schedule ten different clients, all of whose schedules were able to adapt to whatever times she had available.
This was hopelessly unrealistic. Even if Nancy had been able to make the scheduling work, when would she have had the time to do the marketing required to land that many clients? It turned out that the maximum Nancy could really earn using this model was about $750 per week. After paying her taxes, she couldn't even cover her monthly living expenses
*Impossible Business #2 *Tom is a student who works as a software consultant for midsize company._ _ . He typically charged $80 per hour, and when he landed a contract, it often consisted of 25-100 billable hours.
Because Tom's earning capacity was so high and he disliked marketing, he spent a lot of money on marketing himself indirectly. He purchased display ads in industry journals and directories, mailed expensive brochures to large lists of prospects, paid to exhibit at trade shows, and hired a telemarketer to prospect for him. Tom also worked on contracts that came through agencies, who often took 25-35% of his earnings as their percentage.
Tom is earning as much as $90,000 per year, but he was losing about $15,000 per year in agency commissions, and spending $25,000 per year on marketing. In return for all his hard work, he was earning considerably less than he had at his last job.
*Making the Impossible Possible *New consultants, coaches, and other professionals almost always overestimate how much they can earn and underestimate the amount of time and money required to successfully market themselves. They also forget that they will have to cover not only their living costs and business expenses, but pay self-employment tax, buy their own health insurance, provide for their own retirement, and allow for unpaid vacation and sick time.
If Nancy or Tom had taken the time to sit down with a calculator before starting out in business, they would have quickly discovered that they were on the wrong track. But both of these businesses were able to be rescued.
Molly began selling her time by the day instead of by the hour. She offered her clients a full-day package that consisted of a wardrobe review and consultation in the morning and a shopping trip in the afternoon. By charging $400 per day and scheduling three clients per week, she could earn more than double than she did previously.
She also began offering a monthly one-day image workshop as a way of bringing in more income while giving prospective clients a chance to experience her work. The workshop became her main source of new clients, and marketing the workshop turned out to be easier than marketing her personal services.
Tom learned how to market himself less expensively through networking, speaking, and writing articles. Instead of buying booths at trade shows, he was showcased there as a presenter, and spent time networking with the other attendees. The same publications where he used to run ads now ran his articles. Rather than paying a telemarketer, he started picking up the lunch tab for people he thought could refer him some business.
As a result, his expenses for marketing and commissions dropped from $35,000 per year to $15,000. At the same time, his income rose to $125,000 per year, because as his visibility and reputation grew, his services were more in demand and he could command higher rates.
If earning a decent living as a self-employed professional sometimes seems impossible to you, start asking how it could be possible. What can you change about how you are marketing yourself, how much you are charging, and how you are packaging your services? While it could be that success will come if you just work a little harder, it's more likely that you first need to start working a little differently
About The Author
Jonathan Haryanto is owner of http://SpeedyOnlineProfit.com and writes on a variety of subjects. To learn more about this topic Jonathan recommends you visit: http://www.SpeedyOnlineProfit.com
Tips for Prescribing a Future for Your Business by: Adele Sommers
Are you wondering what the future holds for your business? Whether you want to predict your future or prescribe an outcome of your choosing, you'll have plenty of company!
Throughout history, we humans have tried many ways to predict the future, from reading palms to stargazing. Today, we refer to these as descriptive methods when we attempt to describe objectively what the future will be or could be.
On the other hand, prescriptive methods focus on determining what the future should be. These techniques can help us clarify our preferences and values so we can create a vision of what we would like to see in our lives, businesses, or communities.
Once we understand what we would like the future to represent, we're better able to take the actions required to implement it. Ideally, that future will align with our passions, gifts, and what we (or our companies) can really be the best at doing. This article suggests a two-stage process for achieving that goal.
First, Identify Your "Hedgehog Concept"
So, what can you be the best in the world (or at least in your community) at doing? This thought-provoking reflection is one of many from Jim Collins' "Good to Great: Why Some Companies Make the Leap...and Others Don't."
Collins' team examined 1,435 companies to see which ones made substantial gains in profitability and sustained those improvements over 15 years or more. Since the 1970s, only 11 companies had risen from mediocrity to greatness and stayed there -- topping many other prosperous firms that lacked the same staying power.
Of eight characteristics these companies shared, all held an unshakable adherence to becoming the best in the world at whatever they did. Each company committed to doing only those things and nothing else. That sometimes meant dropping their core businesses to pursue other things at which they could become the best in the world.
Collins and his team coined the term "hedgehog concept" to reflect a single-minded determination and focus that, similar to that of the hedgehog animal, attempts to do only one thing really well, such as curl up and roll. A hedgehog concept actually represents the intersection of three areas:
1) What you're most passionate about
2) An understanding of what you could be the best at doing, and
3) A metric that drives your economic engine and helps you measure results.
Keep in mind that according to Collins, this concept is not a goal, strategy, or plan, but an understanding of what you can and can't be the best at doing. Until you develop your hedgehog concept, you won't know your true vision, mission, or purpose.
Next, Define Your "Business Success Criteria"
Do you have a crystal clear idea of the types of business undertakings that align with your gifts, talents, passions, and strengths? In that same context, have you thought about whether your business can be the very best in the world at doing those things?
If the answers are "yes," you are in an excellent position to choose the ventures that can give you the greatest satisfaction and results.
If you're not yet totally clear about the answers to these questions, developing a set of "business success criteria" can enable you to select worthwhile endeavors with much deeper insight, and thus set the conditions for successfully pursuing them. A hedgehog concept thereby represents part of the formula you can devise to identify and choose among your very best options.
Why is this so important? It's not uncommon for people to wander into businesses, projects, and professions opportunistically, which means that they often select the next available and convenient thing that comes along. At times, this may be necessary for financial reasons. But unless we understand our underlying success criteria, we might not recognize the options that truly fuel and inspire us -- those that are best suited to our passions and strengths.
Some of your criteria could be practical considerations, and others more lofty ideals. But all of your criteria will be essential to achieving balance, fulfillment, prosperity, and higher contribution in your life.
In conclusion, a set of carefully crafted success criteria fueled by a potent hedgehog concept provides an unbeatable strategic advantage, and an excellent direction-finder for prescribing your future!
About The Author
Adele Sommers, Ph.D. is the creator of the award-winning "Straight Talk on Boosting Business Performance" success program, and specializes in helping people align their life passions with their business purpose. To learn more about her tools and resources and sign up for other free tips like these, visit her site at http://LearnShareProsper.com
Throughout history, we humans have tried many ways to predict the future, from reading palms to stargazing. Today, we refer to these as descriptive methods when we attempt to describe objectively what the future will be or could be.
On the other hand, prescriptive methods focus on determining what the future should be. These techniques can help us clarify our preferences and values so we can create a vision of what we would like to see in our lives, businesses, or communities.
Once we understand what we would like the future to represent, we're better able to take the actions required to implement it. Ideally, that future will align with our passions, gifts, and what we (or our companies) can really be the best at doing. This article suggests a two-stage process for achieving that goal.
First, Identify Your "Hedgehog Concept"
So, what can you be the best in the world (or at least in your community) at doing? This thought-provoking reflection is one of many from Jim Collins' "Good to Great: Why Some Companies Make the Leap...and Others Don't."
Collins' team examined 1,435 companies to see which ones made substantial gains in profitability and sustained those improvements over 15 years or more. Since the 1970s, only 11 companies had risen from mediocrity to greatness and stayed there -- topping many other prosperous firms that lacked the same staying power.
Of eight characteristics these companies shared, all held an unshakable adherence to becoming the best in the world at whatever they did. Each company committed to doing only those things and nothing else. That sometimes meant dropping their core businesses to pursue other things at which they could become the best in the world.
Collins and his team coined the term "hedgehog concept" to reflect a single-minded determination and focus that, similar to that of the hedgehog animal, attempts to do only one thing really well, such as curl up and roll. A hedgehog concept actually represents the intersection of three areas:
1) What you're most passionate about
2) An understanding of what you could be the best at doing, and
3) A metric that drives your economic engine and helps you measure results.
Keep in mind that according to Collins, this concept is not a goal, strategy, or plan, but an understanding of what you can and can't be the best at doing. Until you develop your hedgehog concept, you won't know your true vision, mission, or purpose.
Next, Define Your "Business Success Criteria"
Do you have a crystal clear idea of the types of business undertakings that align with your gifts, talents, passions, and strengths? In that same context, have you thought about whether your business can be the very best in the world at doing those things?
If the answers are "yes," you are in an excellent position to choose the ventures that can give you the greatest satisfaction and results.
If you're not yet totally clear about the answers to these questions, developing a set of "business success criteria" can enable you to select worthwhile endeavors with much deeper insight, and thus set the conditions for successfully pursuing them. A hedgehog concept thereby represents part of the formula you can devise to identify and choose among your very best options.
Why is this so important? It's not uncommon for people to wander into businesses, projects, and professions opportunistically, which means that they often select the next available and convenient thing that comes along. At times, this may be necessary for financial reasons. But unless we understand our underlying success criteria, we might not recognize the options that truly fuel and inspire us -- those that are best suited to our passions and strengths.
Some of your criteria could be practical considerations, and others more lofty ideals. But all of your criteria will be essential to achieving balance, fulfillment, prosperity, and higher contribution in your life.
In conclusion, a set of carefully crafted success criteria fueled by a potent hedgehog concept provides an unbeatable strategic advantage, and an excellent direction-finder for prescribing your future!
About The Author
Adele Sommers, Ph.D. is the creator of the award-winning "Straight Talk on Boosting Business Performance" success program, and specializes in helping people align their life passions with their business purpose. To learn more about her tools and resources and sign up for other free tips like these, visit her site at http://LearnShareProsper.com
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