Archive for April, 2009

Build a Business, Not a Job

Wednesday, April 22nd, 2009

Building BlocksWhether you are involving in a brick-and-mortar business or an online business, you must understand that not all businesses are created equal.

Some businesses allow you to practice hands-off management, enabling you to be a passive business owner.

Some other businesses just don’t allow you to take your eyes-off the business - doing so might cause your business to stumble and lose traction in the market they are in.

The first time I entered entrepreneurship, I thought that everybody wants a hands-off business. The truth is, business owners often don’t want to stay away from their businesses, not even a second.

This, in return, creates a group of entrepreneurs that described themselves as “24-hour-is-not-enough entrepreneurs.” Some are simply workaholics, some are simply die-hard fans of their business concepts, and some are simply want to get out but the circumstances don’t allow them to.

I am a member of the latter entrepreneur group. I want to get out and work on other business opportunities; I don’t like to mingle too long in a business - My reason is, doing so will shut your creativity and lose you opportunities.

I want to build a business, not a job!

For those that share the same view, this blog post is just for you :)

Why You Have to Do Business Online - Part 2

Tuesday, April 14th, 2009

work at homeThis is the second and final part of the 2-post series. Just in case you have missed the first part, here is the blog post - Why You Have to Do Business Online - Part 1.

In the first part of the series, I talked about stats, stats and stats - The idea is not to blabber about pointless data; The idea is to give you the facts and what you should do to respond to them.

You might said, “Well, all look promising. But what about the dot com bubble burst that caused the loss of billions of dollars back in the year 2000?” My answer to your question: Yes, but businesses learning from the pioneers and start smarter than ever… and thrive.

Online businesses, such as eBay the online marketplace, CraigList the online classified, and Facebook the online community, are enjoying their slice in the Internet business world, despite the lingering problem of recession.

If you do too much waiting game, you will soon realise that it’s a bad decision making. People who took the online opportunities before you will achieve success, and even if you decide to enter the online business arena sooner than you would wanted to, you can’t possibly achieve what those people has achieved. Will there be another Google? I don’t know and I don’t think so. Will there be another eBay? I don’t know and I don’t think so.

Adding to the negatives of playing the waiting game, the Internet has enabled teenagers (and a rare case I’ve found is a successful webpreneur at… 9 years old! - A scam? I don’t know…) But I know some teenpreneurs (around their 17 or 18)and have partnered with them in the past for a couple of projects - All I can say is, they know way too much more than me :)

The point of the above statement is, you’ve got to have the “adventurous” spirit of the teenage webpreneurs - they don’t afraid of the Internet. Instead, they capitalise it.

Sure, you can say, “Well, they are born when the Internet is already a common thing in our lives - So, entering the make money online arena is not that difficult for them.” My answer to your statement: Yes, they were born in a time that Internet, iPod, blogging and other tech/Internet-related concepts, products and services are common. But, in my opinion, what differ you from them is passion and an eye for opportunity. If they can do online business part-time after school, why can’t you do just the same after your day job or business activities?

How to Negotiate with Telemarketing Companies

Saturday, April 11th, 2009

telemarketingTelemarketing generates over 100 billion in yearly sales in all different industries and according to the DMA, over 66 million men and women buy products and services from telemarketers. Even if you are just starting out with your business, telemarketing can help you gather the information you need to get started or grow your business.

 

One type of telemarketing, inbound calling, involves a team of people to receive calls. If you set up an ecommerce site, but also provide the option of your customers to purchase products via phone, this type of call center is what you need. An outbound call center is when representatives call potential customers or partners. If you want to solicit information, generate sales leads, or conduct a survey, this is the type you need.

 

If your business is at the point where you need to implement a push strategy, a call center might be a good place to start, depending on the costs that is.

 

  • Flat service. If you want just a basic team of representatives to call prospective customers and you provide a script and list to the company, the costs will be pretty straight-forward. Typically, telemarketing companies charge an hourly rate, or per-call charge. If your list is small see if you can be charged per-call. Get a detailed quote with rates included and see if there is a minimum rate as well.
  • Additional services. If you want more from the company (tracking reports, 800 number call-in, etc.), you will be able to negotiate costs by “bundling” a package. Reports are good because they show you if your specific campaign is working and provide you with a benchmark for future campaigns. An 800 number is good for the representatives to be able to leave a message. If you don’t have an 800 number for your business, the telemarketing company should be able to provide you with one.
  • Laws and regulations. If you do not have a list to use, you can purchase one. The telemarketing company might provide a list, or work with a mailing list company to provide you with a list that is suitable for your business. The company will not be able to call any numbers from the Do Not Call list. Make sure that the company is compliant with current US laws governing telemarketing- otherwise you may be responsible for penalties associated with breaking these rules.
  • Branding. You won’t be able to negotiate first impressions with your customers once they have them so make sure you work with the company to deliver the best “first impression” for your business. You might have to write the phone script and provide guidelines for the telemarketers (when to leave a message, how many times to try each customer, how long to stay on the phone) to follow. It may seem like more up-front work for you as a business owner and it oftentimes is. You’ll save time and money doing the phone call legwork while upholding your image.
  • Specialized agents. If you want to use an inbound call center for customer or technical support, expect to pay more for these dedicated agents. Sales, lead generation, order processing, and other functions can all be specifically negotiated, which usually ends up costing less overall.

How the Recent US Business Tax Proposal Will Impact Small Business Owners

Wednesday, April 1st, 2009


Tea Party NYCI just stumbled on the most recent blog post written by Karen Kerrigan, President and CEO of Small Business and Entrepreneurship Council (SBE Council)about the recent business tax proposal that has just moving through the Congress, that will definitely impact small business owners and entrepreneurs considerably.

Ms. Kerrigan wrote that according to the analysis of the Joint Committee on Taxation report, should this new tax proposal approved, out of the proposed $338.8 billion tax hike on the so-called “wealthy earners,” 47 percent of it will be the burden of small business owners.

In my opinion, this is not helping the US economy, at all. Yes, the raised $338.8 billion could probably save the day, but as long as the US manages its finance like this so far, that $338.8 won’t do much to jump US’ economy (and global economy, too.)

Small business owners are the ones who should receive incentives and tax breaks - they work hard to build their business through difficult times and pushing their limits to be able to support staffs. If their pay cut, how do you think they impact the economy? In a good way? I doubt it.

Yes, Obama’s policy in loan modification is plausible. I agree that today is all about survival. But I think it simply just like the circle of death - Pressure on small business owners and entrepreneurs will affect their businesses and employees. The affected businesses and employees will probably result in more problems, which include employee layoffs. The layoffs will affect… guess what, people taking more loans to keep ends meet - there goes the loan modification policy… what next is… more debt, and more tax proposal to take more money from business owners and entrepreneurs.

You might think - This bloke doesn’t know anything about US economy. Yes, you are right - But what I know is that what US decides will affect global economy. That’s the fact you can’t deny.

All in all, I agree with what Ms. Kerrigan said, that “raising taxes now on any individual or business remains an unwise and counterproductive policy measure.” I couldn’t agree more.

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