Cost-Reducing Tips for the Small-Business Owner

One of the keys to running a successful small business or home office is learning to control costs. Even the smallest expenses can quickly add up and cut into profits, leaving you with a business that won’t move forward.

Many small-business owners know where their money comes from, but are not as clear on where it goes. This can have a significant impact on their businesses’ cash flow.

It’s important to review your expenses regularly – every quarter if possible – so you can accurately manage your outgoing expenditures and look for ways to save.

Demos Parneros, president of U.S. stores at Staples Inc., provides the following suggestions to save your business money.

* Buy last year’s model. Furniture, computers, PDAs – there is always something new. This also means that there is always something old. If you wait until the end of the year or for sales throughout the year, you can save on your office needs.

* Buy in bulk and buy ahead. By buying commonly used items in large quantities, you can save a lot. Replenish your supplies before you run out. Thinking ahead, and thus buying ahead, gives you a chance to comparison shop and take advantage of sales.

* Buy products that save money. Consider quality alternatives to national brands. Staples ink and toner products, for example, offer consumers quality products at a 15 percent to 20 percent cost-savings per cartridge.

* Take advantage of discounts. Professional and trade associations often offer their members discounts on insurance, travel, shipping and other common expenses. Similarly, some credit cards, like the American Express Corporate Card for Small Business, may get you discounts as well.

* Save on mail costs. Mail costs for your business can add up fast. To save money, use postcards or consolidate shipping. You also can buy or lease a postage meter or get a mail scale to eliminate overpaying.

3 Hot Tips For Building Trust And Increasing Sales

How many times has it happened to you? You walk through the doors of a place of business and here he comes – perfectly groomed with a smile planted across his face in greeting. Within two minutes he has talked non-stop and promised you everything, including the stars if you purchase his project. You lift and eyebrow, and think to yourself… “Yeah, right!”

The distrust between consumer and salesman is a longstanding feeling. After all, you know they are wanting to make a buck off your purchase. Sure, you don’t mind them making a few dollars… everybody has to make a living… but heck, it would be nice if they were at least a little concerned about what your needs are too!

Let’s face it… customers aren’t likely to buy from you unless they feel confident that you will deliver. There are a few easy steps that you can take to give them the confidence they need to take the plunge.

1. Let Previous Customers Make The Claim
The proof is in the pudding… No one can say that you deliver and make good on your promises like a satisfied customer. It pays to use customer testimonials. Now, we’re not talking about blindly pasting testimonials everywhere… a little business sense and organization will be helpful in making the most of them.

Choose testimonials that are exact and talk about specific aspects of your business. “Thank you so much for your hard work!” is wonderful, but “Thank you for spending 2 hours with me yesterday. Your personal attention is greatly appreciated.” says a lot more. Yeah, the reader knows that you are willing to take whatever time it takes to help them through the purchasing process.

Be sure to get your customer’s permission to use their testimonial as part of your advertising campaign. While you’re at it, get as much personal information about them as you can. Their occupation, city, etc., create a more realistic appeal to their testimony.

2. Be Specific In Your Claims
Specific claims are more believable than vague, generic brags. Order today! It’s Fast, Easy and Cheap! Sounds much better when you say… Order Today! Take 2 Minutes to Fill Out Our 7 Step Order Form and Save 20% on Your Purchase!

Specific numbers don’t always come out even. In fact, readers tend to believe numbers that have decimals are more accurate than whole numbers… even if the real number is exactly a whole number!

3. Be Realistic
Don’t alienate customers with claims that sound too good to be true. Yeah, we all know the old saying that if it sounds too good to be true, it probably is. Unrealistic claims steal your credibility and leave the customers with a raised eyebrow.

Think of it this way… what if you do understate the benefits? When your customer finds out the truth, he’ll just be that much more satisfied! Marketers suggest that you under promise and over deliver to create the greatest customer satisfaction.

Customers who believe in you aren’t afraid to buy from you. That means higher sales numbers and greater profit.

10 Tips to Succeed With Your Home Business

Virtually everyone would jump at the chance to start a legitimate home business so they could work at home and attain financial freedom. But not everyone has what it takes to transform a home business opportunity into financial success. Here are ten tips that will help you achieve your personal and financial goals through running your own legitimate home business.

1. Secure your start-up funds. Any successful business owner will tell you that you need to invest money in your business in order to make money. A home business is no exception. Expect to spend a maximum of $5,000 for a legitimate home business opportunity. If the opportunity is sound, you should be able to get back your initial investment within a matter of days or weeks, but you do need that initial investment.

2. Get high-speed Internet. If you don’t already have DSL or a broadband Internet connection, you should have it installed. The best home business opportunities are Internet based, so you need reliable and speedy Internet access.

3. Find the right opportunity. Like every other person, you have a unique set of strengths and weaknesses. Find a legitimate home business that draws on your strengths. If you aren’t a salesperson, for example, stick with a home business that doesn’t require you to make cold calls.

4. Get support. Launching your own business can be a daunting prospect, so be sure that you have the support you need. Look to family members and friends for encouragement, and look to the company with which you affiliate to provide you with a sense of community.

5. Take advantage of available resources. Unless you are a seasoned entrepreneur, you probably aren’t aware of the nuances of running a business. The home business opportunity you choose should have a number of resources available to you, so take advantage of them. These resources might include a back office set-up, daily or weekly conference calls, and online tutorials.

6. Key in on marketing. The success of any business, whether a brick-and-mortar store or an Internet-based business, is marketing. The bottom line is, if people don’t know about your business, you’ll never turn a profit. Take full advantage of the marketing tools and advice that you’re provided.

7. Set up a wok schedule. The wonderful thing about being able to work at home is the flexibility that comes with it. However, setting your own work hours doesn’t mean that you don’t have to work. It’s helpful – particularly when you’re starting out, to schedule your work hours as though you were going in to a “regular job.” In doing this, you’ll ensure that you put in the time necessary to make your business succeed.

8. Minimize any distractions. If you’ve never worked from home before, it’s easy to divert your attention from the task at hand. While you’re working, close the doors of your home office, turn down the ringer on your home phone, and vow not to check your personal email. Forget the laundry and the errands, and concentrate on your business.

9. Keep good records. It may not seem important know, but come tax time, you’ll need financial records of all of the expenses and income associated with your home business opportunity. Some people use a spreadsheet, while others use special accounting software. Either way, keep track of everything, and keep your receipts.

10. Have fun! Having the knowledge that you’re working toward your financial freedom while being able to work at home in a legitimate home business is incredibly rewarding. Always keep your goals in mind, and have fun creating a stable future for you and your family.