Top Tips to Avoid Losing Customers

read more : customers ,lose customers ,purchase ,marketplace , buy and sell ,manufacturing



As we struggle through these uncertain economic times with no real end in sight, it’s logical that the survival of our small business may start filling our thoughts. Maybe not consuming every waking hour, but for some of us that may be close. I know, for me personally as an IT consultant whose livelihood is based on continued interest from new and existing clients, my family sometimes gets the short end of the stick as I work to figure out new ways to grow my practice in this shrinking economy.

Nothing short of winning the lottery is going to take away all of our fears. Nothing. And it’s a given that customers can be fickle — they’re looking to save money just as much as we’re looking to make money. The two are almost mutually exclusive, so we’re always looking for that edge — that balance that will make us as profitable as possible, keep our current customers happy, and win lots of new customers. But there’s no guarantee — no magic potion or formula. It’s often trial and error… hit and miss. Some sink while trying to figure it out, some flounder for a long time, and some… thankfully… thrive and grow.

If you’re losing customers, or just afraid you’re going to lose customers as the economy gets tighter and tighter and the remaining competition gets cut-throat, there are a few things you can do to tighten that bond with the customer and figure out exactly what they’re looking for so that you may be able to meet their needs even better than you have been so far.

1. Stay In Touch
   Stay in contact with customers on a regular basis. Offer them a free e-zine subscription. Ask customers if they want to be updated by e-mail when you make changes to your Web site. After every sale follow-up with the customer to see if they are satisfied with their purchase. 2. Friendly Web Site
   Make it easy for your customers to navigate on your Web site. Have a “FAQ” page on your Web site to explain anything that might confuse your customers. Ask them to fill out an electronic survey to find out how make your Web site more customer friendly.
   
   3. Easy And Free Communication
   Make it easy and for your customers to contact you. Offer as many contact methods as possible.
   
   4. Teach Your Employees
   Make sure employees know and use your customer service policy. Give your employees bonuses or incentives to practice excellent customer service..
   
   5. Impress Your Customer
   Give your customers more than they expect. Send thank you gifts to lifetime customers. E-mail them online greeting cards on holidays or birthdays. Award bonuses or discounts to customers who make a big purchase.
   
   6. Be Nice
   Always be polite to your customers. Use the words Please, Thank You, and Your Welcome. Be polite to your customers even if they are being irate with you. Always apologize to your customers should you make a mistake.
   
   

You would think this would be a no-brainer to want to know this, but you’d be surprised at how many big businesses aren’t really paying attention to this either. I did analysis work that was sort of like this for a very large Midwestern grocery chain figuring out what their top ten sellers in each department were. Yes, you would think that their two hundred stores were already doing this and you would think that the corporate office had a standard way to do this, but that was not the case. It took a forward-thinking store manager to bring me in to help and then other regionally located stores from the same chain wanted the same services from me. It turned out nicely for me, but what a sad statement about this large organization that they had no reporting structure already in place to ensure that all stores are being as profitable as possible.



Global B2B buy sell website: http://www.bytrade.com

Top Tips To Become A Successful Entrepreneur

read more : business , Entrepreneurship, customers ,products , marketing,buy and sell

 

 

Entrepreneurship is different than self-employment. The word entrepreneur denotes that the business you’ve set up or are about to set up is unique, creative, and innovative. To be successful as an entrepreneur, you need, above all else, to be a self-starter and to have a great idea. Here are the steps to becoming a successful entrepreneur by bringing your idea successfully to your customers and/ clients:

1. Be passionate with what you do. You start a business to change any or all part of your life. To attain this change, you need to develop or uncover an intense, personal passion to change the way things are and to live life to the fullest. Success comes easily if you love what you do. Why? Because we are more relentless in our pursuit of goals about things that we love. If you hate your job right now, do you think you will ever be successful at it? Not in a million years! You may plod along, even become competent at the tasks, but you will never be a great success at it. You will achieve peak performance and do what you have to do to succeed only if you are doing something that interests you or something that you care about. Entrepreneurs who succeed do not mind the fact that they are putting in 15 or 18 hours a day to their business because they absolutely love what they do. Success in business is all about patience and hard work, which can only be attained if you are passionate and crazy with your tasks and activities.

2. Focus on your strengths. Let’s face it; you cannot be everything to everybody. Each of us has our own strengths and weaknesses. To be effective, you need to identify your strengths and concentrate on it. You will become more successful if you are able to channel your efforts to areas that you do best. In business, for example, if you know you have good marketing instincts, then harness this strength and make full use of it. Seek help or assistance in areas that you may be poor at, such as accounting or bookkeeping. To transform your weakness to strength, consider taking hands-on learning or formal training.

3. Never consider the possibility of failure. Ayn Rand, in her novel The Fountainhead, wrote, “It is not in the nature of man – nor of any living entity, to start out by giving up.” As an entrepreneur, you need to fully believe in your goals, and that you can do it. Think that what you are doing will contribute to the betterment of your environment and your personal self. You should have a strong faith in your idea, your capabilities and yourself. You must believe beyond a shadow of a doubt that you have the ability to recognize and fulfill them. The more you can develop faith in your ability to achieve your goals, the more rapidly you can attain it. However, your confidence should be balanced with calculated risks that you need to take to achieve greater rewards. Successful entrepreneurs are those who analyze and minimize risk in the pursuit of profit. As they always say, “no guts, no glory.”

4. Work hard! Every successful entrepreneur works hard, hard and hard. No one achieves success just by sitting and staring at the wall every single day. Brian Tracy puts it out this way, “You work eight hours per day for survival; everything over eight hours per day is for success.” Ask any successful businessperson and they will tell you immediately that they had to work more than 60 hours per week at the start of their businesses. Be prepared to say goodbye to after-office drinks every day, or a regular weekend get-away trip. If you are in a start-up phase, you will have to breathe, eat and drink your business until it can stand on its own. Working hard will be easy if you have a vision, clear goals, and are passionate with what you do.

5. Constantly Look for Ways to Network. In business, you are judged by the company you keep – from your management team, board of directors, and strategic partners. Businesses always need assistance, more so small businesses. Maybe the lady you met in a trade association meeting can help you secure funding, or the gentleman at a conference can provide you with management advise. It is important to form alliances with people who can help you, and whom you can help in return. To succeed in business, you need to possess good networking skills and always be alert to opportunities to expand your contacts.

6. Willingness to Learn. You do not need to be a MBA degree holder or PhD graduate to succeed in your own business. In fact, there are a lot of entrepreneurs who did not even finish secondary education. Studies show that most self-made millionaires have average intelligence. Nonetheless, these people reached their full potentials achieved their financial and personal goals in business because they are willing to learn. To succeed, you must be willing to ask questions, remain curious, interested and open to new knowledge. This willingness to learn becomes more crucial given the rapid changes in technologies and ways of doing business.

7. Persevere and have faith. No one said that the road to success is easy. Despite your good intentions and hard work, sometimes you will fail. Some successful entrepreneurs suffered setbacks and resounding defeats, even bankruptcy, yet managed to quickly stand up to make it big in their fields. Your courage to persist in the face of adversity and ability to bounce back after a temporary disappointment will assure your success. You must learn to pick yourself up and start all over again. Your persistence is the measure of the belief in yourself. Remember, if you persevere, nothing can stop you.

8. Discipline yourself. Thomas Huxley once said, “Do what you should do, when you should do it, whether you like it or not.” Self-discipline is the key to success. The strength of will to force yourself to pay the price of success – doing what others don’t like to do, going the extra mile, fighting and winning the lonely battle with yourself.

Even with all these points, I feel that I have only scratched the surface on the make-up of a true entrepreneur. You may have other qualities which you might deem important, so please let me know if you think I have missed any out. Successful entrepreneurs are never secure in their field, although this may be the same with other “bog standard” jobs, however the rewards that can be obtained from having the mentioned attributes can be really substantial. By working hard and never giving up, you are bound to become a successful entrepreneur, all you have to do is believe.

 

Global B2B buy sell website: http://www.bytrade.com

Best tips on how to improve sales skills

read more : sales skills ,sales,increase sales ,business ,products , customer



Careers that offer commissioned incentives based ono sales performance can be an excellent opportunity to bring home a large paycheck. Unfortunately, salesman get a bad reputation if they are too pushy or seem to be too desperate to close a sale. Here are some customer friendly ways to boost your sales and your paycheck without having to beg to close the deal.



1. Features, Advantages, and Benefits

Many salespeople spend too much time extolling the virtues of the features of their product or service. In other words they talk about what their offering is, rather than what it can do for the customer. So a basic sales skill is the ability to differentiate between:

The features of what the product/service is.

How these features might be an advantage to a customer.What a real customer says the benefits are of having the product or using the service.

If the salesperson just talks features at their customer, the customer will quickly become bored, because most of the features have no interest for them. The safest way for the seller to proceed is to find out exactly what benefits the customer is looking for, and to do that they need to ask the right questions.

2.Listen more than you talk

Great sales professionals understand the value of listening. As said by many, if you were designed to talk more than to listen, you would have two mouths and only one ear. Use your two ears at least five times more than your mouth. As a wise man once told me: If you are telling, you ain't selling.

3.Selling to People Outside Your Comfort Zone

Most salespeople who are "people persons", already think that they are good at this. Let me ask you a question. When you last lost a sale, how was your rapport with the key person who decided against you?

You can't afford to look away and ignore people that you don't have natural rapport with. The good news is that people like people like themselves. All you have to do to gain rapport is stretch your behavior outside or your comfort zone until you become like another person.

4. Body Language

Listening is a key sales skill, but not only with the ears. Paying attention to what the customer is saying subconsciously, that is through their body language, can reveal as much about the message being transmitted as the actual words.

Facial expression; body posture; tone of voice; eye contact and movement; hand gestures; these can all give the alert salesperson clues as to what concerns or issues the customer has.

5.Be authentic in ALL actions

Are you truly authentic in all of your actions? Do you mean what you say? Do you follow up on all of your promises? Do you return all calls even when you know them to be potentially bad?

6.Have More Fun

Sales is fun when you are in control and closing deals. Selling is miserable when you are under pressure to close business.

Take the pressure off yourself to close and instead focus on qualifying and motivating your prospects.

Bonus Sales Tip

When you are giving a presentation, selling on the telephone or one-on-one in your prospect's office, picture your prospect as having the words SO WHAT stamped on his forehead. Imagine that for everything you say, the prospect is asking "so what, why should I care?".

Remember, prospects only care about how what you are selling can eliminate a problem that they have or help make their business or life better. The answer to this question is always what your product does for them (benefits), not what your product is



Global B2B buy sell website: http://www.bytrade.com

Top Ways To Market Your Home Business

read more : home business , marketing ,buy and sell ,make money ,business



There are many businesses that you can start and run from your home. With today’s technology, your imagination and the marketplace are the only limits. To be successful, whether you are a web designer or selling widgets online, you must let people know that you are out there, and precisely what kind of service or product you offer. You do this by marketing your business in a number of ways, many of which do not have to be expensive at all.



Here are several suggestions to help.

Expand your network. Your friends and family may be supportive of what you’re doing but they may not be the best sources of referrals. Consider who would make a good customer and then look for ways to meet those people. Chamber of commerce meetings, PTA meetings, local civic associations, regional trade shows, professional conferences, and phone calls can all be effective. So, too, can networking online through message boards and mailing lists. Don’t spam the boards or lists with links to your products. Just participate and contribute to the groups that are likely to include prospects for your services and you will get known.

Look for needs you can fill and ask for business. I ran a small business forum on America Online for 11 years because I got on the phone one day in early 1990 and called them to ask about writing a column for them. Remember, if you don’t ask for business, know one will know you want it.

Enhanced Business Card -?Get a business card with color, an eye catching background, and add your picture to it. Maybe you could also have a cool quote or a free offer on it, plus anything else you can think of to get peoples attention.
The point is you need to make it stand out among all the other business cards someone might see in a month. Make sure your website URL is on it in a highly noticable place. Then, leave it everywhere you can, and hand it out to everyone you meet.

Advertise on the web. Pay Per Click advertising can be a very affordable way to find targeted customers for your home business. Even if you just sell to consumers or businesses in your local area, pay per click can be helpful. The major search engines all feature local pay per click advertising, and AOL also has a search to call feature. A surfer looking for a local dentist, might search for the phrase “dentist in Centereach” and be directed to a web site that has a phone number to call a Centereach dentist.

Sponsor Events – A great way to spread the word about your business is to sponsor events in your area. There are many games, events, charity drives, intramurals, little leagues, etc… That are just waiting for people like you to give a little bit of your money to help out.online business website or offline business if you have one.

You will usually get your business name on a T-shirt, a sign, a flyer, or something else related to the event. A lot of people will be seeing these events and YOUR business name. It’s a great way to drive local traffic to your

Learn from others in your industry. Attend meetings where people talk about their successes and problems. Read trade publications, get to know who’s who in the industry, then find ways to introduce yourself to people you’d like to get to know. If you can’t meet them in person, try calling them. Don’t waste their time. Have a specific question or problem in mind that you’d like them to help with. Then follow up with a note thanking them and telling them how much you appreciate their help.

Stay in touch. Just because a prospect doesn’t buy today doesn’t mean they won’t buy. This is particularly true if you sell to businesses. Some industries and some products have very long buying cycles. Even if the initial prospect doesn’t buy, they may give your name to someone who does



Global B2B buy sell website: http://www.bytrade.com

Top idea to start a business

read more : business ,start a business , product,buy and sell , supply,customer,wholesale

 

Starting a business is no more difficult than determining that you have the risk-tolerance and temperament for such an endeavor, and deciding to just take your idea and go for it

Do what you love to do
Businesses don’t just happen. They are made. Whether you plan to profit by twisting balloons into smile-generating shapes or orchestrating the growth of multimillion dollar, multinational companies, your success relies on what you bring to the business. If you love what you do, your passion for the business will drive you to be knowledgeable, creative and persistent. On the other hand, if your feeling for what you do is lukewarm, your success will be, too.

Turn old standbys into new products
Truly new concepts are few and far between. Most new products or new business ideas are simply spin-offs of old ones. Inline skates is one good example. Essentially, they are ice skates on wheels. Or, depending on your point of view, streamlined roller-skates. Other new business ideas are nothing more than new ways of marketing mundane products.

You may not have the money, management ability, contacts or desire to launch a major new product like inline skates or the energy or desire to turn your single store location into a multimillion-dollar sales organization. But you don’t have to launch anything that large to start a business or introduce a new product.  You need to think about what people want to buy and how they would like to buy it.

You can spin almost any skill or industry knowledge into marketable new products or services. 

A neighbor turned his skill at fixing cars into a repair and tune-up service. His angle? He was mobile. Customers didn’t have to drop their car off at the shop. Instead, the “shop” (a van outfitted with tools and auto parts) came to them. Another acquaintance built a business by purchasing large quantities of chemicals and repackaging them in smaller quantities. 

And then, there’s the grandmother who couldn’t find a product to organize her handbag. So, she went out and created one, and turned the product into a million-dollar business.

Look for mundane money-makers
You don’t need to create exciting new products or services to go into business, either. Millions of business owners profit by selling routine and sometimes unglamorous services such as window washing, car repair, sandwich making, building maintenance, house cleaning and plumbing. The key to making money with the mundane is to sell something your customers can’t do, don’t want to do, don’t have the time to do, or can’t get done well elsewhere.

Tip: one way to making really big money with mundane services is to develop a unique and reproducible method for marketing and delivering the service and then open up multiple offices, or franchise the concept. If you plan to franchise your idea or sell it as a business opportunity, retain an attorney early on who is familiar with franchise law and can help you steer clear of the pitfalls. 

Turn that hobby into cash
Do people ooh and ah at your handiwork? Whether you are a whiz at creating floral arrangements or at writing software, look for ways to turn your hobby into a business. You might want to manufacture your items in quantity, license them to other manufacturers, sell them by mail order, at flea markets or on consignment, or open your own retail outlet selling supplies to others with similar interests. 

Ask the reference librarian at your public library to help you find trade magazines pertaining to your hobby, and read those to generate new business ideas.

Reach out and teach someone
Do you have a skill others want to acquire? Do you have a knack for explaining things so others can understand them? If so, don’t give your expertise away. Start charging for it!

For instance, if you are a karate expert, you might teach at a karate school or open your own karate school. If you’re a talented artist, you could teach art at home or in a school. 

Tip:: Make extra money selling books, supplies, or other items your students will need to buy to complete the course.

Sell training seminars to corporate America
Don’t limit yourself to training individuals or private groups of people. Look for ways to polish up your act and cash in on the $50 billion corporate training market.

What kind of training do corporations buy? Everything from sales, management and computer training courses to self-defense courses. 

To locate training opportunities, contact the human resources department and ask to speak to the person in charge of training programs. Introduce yourself to that person and make an appointment to discuss the company’s needs and your ability to fill them. If you get the assignment, be sure to have handouts for the class so they know how to reach you for more intensive training on their own. 

Mass produce your advice
Selling your product or service one-on-one limits the amount of money you can earn to the number of people you can personally see. To increase your profits without significantly increasing your work, consider turning your expertise into booklets, books, computer programs, MP3s and DVDs that you can market in quantity. 

You can use your computer to produce the printed matter and CDs, DVDs, and MP3s. You can outsource editing and production to professionals if you don’t have those skills yourself. When sales volume grows, you may also want to outsource production and fulfillment. 

Be an industry consultant
This is another great way to increase your bank account. If you can solve business problems (such as how to bring waste water into compliance with EPA regulations) or answer important business questions (what steps should be taken to increase market share in a target market or how to manage inventory more efficiently) you can earn substantial hourly fees selling your advice to corporations. Downsized corporations can be a good source of consulting business since they may no longer have experts they need on staff.

Turn a former employer into a valuable source of new business
Just because you leave a company doesn’t mean it doesn’t need your services. Companies often retain the services of former workers on a freelance or consulting basis. That way they get the benefit of trained personnel without having to pay payroll taxes and benefits. If you leave a company on good terms, ask about contract or freelance opportunities. Don’t stop with contacts who work with the former employer, either. Call your former employer’s suppliers and customers and tell them about your capabilities. Call their competitors, too. Stress your industry knowledge, contacts and skills. You may soon find that the income you earn exceeds what you made as an employee. 

Modify one of your existing products
Sometimes all it takes to create a “new” product is a slight change in an existing product. 

Harrison-Hoge Industries is a mail order company in Port Jefferson, NY, that sells fishing lures, inflatable boats and other outdoor gear. To expand their line, the company added a wide-brimmed, canvas hat called the Campesino to its catalog. The hat was a big success, but the owners of the company thought there might be more they could do with it. And there was.

They discovered they could adapt the hat to sell in specialized markets just by changing the hat band. As a result, they began to supply the Museum of Natural History and the Guggenheim Museum (both in New York City) with hats. Each museum’s hat has its own distinctive hat band.

Skip the start-up headaches: purchase an existing business
When you start a business from scratch you have to jump through hoops to find and train employees, build up a customer base and find suppliers. But when you buy an existing business much of this infrastructure will already be in place.

Don Pelham bough of MasterCare Cleaning Services, in Seattle, WA, from another businessman. He explains the advantage of purchasing a business this way: “In a start-up you have to pound the pavement while you wait for your ads to appear in the phone books and your website to show up in Google. But when you purchase a business, the phone rings from day one. Ads are in place and working. Schedules are already made. When I took over the cleaning service, there were about 12 jobs already scheduled, 3 or 4 a week, and the phone was ringing a new job every 2 or 3 days. “

Be sure to find out why the buyer is selling; don’t rely on what they tell you. Investigate the business yourself. Find out how much traffic it actually gets. Check newspapers and town records for information about any proposed highways, superstores or zoning changes. Check for liens against the business or other problems that could have an adverse effect on the business. Consult an accountant and an attorney before you sign on the dotted line and follow their advice. 

Buy a franchise 
If you want to start a business but don’t want to develop your own products, or methods of doing business, franchising could be your ticket to business ownership. That’s because when you buy a franchise, what you get is essentially a build-your-own-business kit. 

Depending on the amount of money you invest and the franchise opportunity you choose, you get rights to use the franchise name, distribute a branded product or service, and perhaps use the franchise’s methods of operations. Customer leads, help locating your business and other services may be part of your package, too. The benefit of this approach is that it simplifies start-up and may also help reduce the chance of failure. 

Buying a franchise won’t actually put you in business. You have to do that yourself. But if you choose your franchise carefully, the franchise’s products and methods can give you the leg up you need to succeed. 

Scott Wallace started his commercial cleaning business in Eden Prairie, MN, this way. 

“I had been fired from my job and decided I never wanted to go through that experience again,” he says, “so I chose to go into business for myself. I decided to go with a franchise because of my previous business experience–none!” 

After researching several types of franchises, Wallace concluded that the best one for him to buy would be a cleaning franchise because the investment was small (prices started under $5,000), no special knowledge was required, and the profit margins were good. He bought a Coverall franchise in 1994 because their Minnesota regional office seemed more interested in having him as a franchisee than other franchisors he contacted.

For his money, Wallace got a package of supplies, equipment, and customers. Then it was up to him to keep the customers and grow the business. A year after he had started he was not only making a profit, but was considering buying a second cleaning business.

Wallace is one of hundreds of thousands of individuals who have turned to franchising as a way to get into business. According to the US Census Bureau, franchise businesses now account for 10.5 percent of businesses with employees  in the 295 industries for which franchising data were collected in 2007. Additionally, franchise businesses accounted for nearly $1.3 trillion in sales in these industries.

Despite the large number of franchise outlets and the huge dollar volume of sales, franchising isn’t without its pitfalls. One New Jersey couple lost nearly $20,000 when the owners of a startup bread and roll franchise they had invested in went bankrupt. A West coast man sunk his retirement funds into a mailbox/office center franchise and discovered to his dismay that the income didn’t come near the claims the company’s sales staff had made. 

Other problems can arise, too. Franchise territories may not be large enough or competing franchises or private businesses may open, making inroads into your selling area. Licensing fees may be excessive compared to the services rendered, supplies may be too expensive, or you may find you personally don’t want to conform to the franchisor’s way of doing business.

To minimize the risk, learn as much about franchising as possible. Evaluate your own motives, needs, interests and willingness to follow someone else’s methods of doing business. Research several types of franchises and compare their profitability and appeal. Consider their track record, and your ability to afford the franchise. Remember you’ll need money to live on as well as to get the business rolling. 

 

Global B2B buy sell website: http://www.bytrade.com

Import Export Business – What To Avoid

READ MORE : Import,Export,Import Export Business,trade,marketplace,global business

 

It is pretty surprising how many people make the same mistakes over and over again in some business endeavors. Moreover, despite the fact that these mistakes have happened in the past to many other persons, some business neophytes still commit the same mistakes. It is therefore very important to know the most common mistakes that most businessmen commit and how to avoid them. In other words, if there are things that you should know and do in starting up a business, there are also some things that you should avoid.

Avoid unknown companies:

You may be offered very enticing offers by some companies from time to time. Business owners should have some level of caution when they do business with companies they know very little about. Some fraudulent companies will provide you with contact information but often this will be false.

You should visit business premises of the company that you are doing business with. Check that the company gives you not only a mobile number but a landline one too. Fraudulent companies may only provide a mobile number so it’s important for you to have relevant contact information.

Avoid unlicensed companies:

Whether you do business nationally or internationally, you need to ensure that the business that you are working with has a license. In most countries a business will need to have a license and will have a registration number. If the company you want to work with does not provide a registration number you should opt to not working with them.

Avoid low prices:

While it’s nice to get good deals you should be cautious if you receive ridiculously low prices. Most legitimate businesses will try and give a reasonable price fraudulent companies will try and entice with incredibly low prices. When prices are too low you should do some investigation as to why they are so low.

Businesses may find that some fraudulent companies are selling so cheaply because they have fake branded goods. If you do buy you could face legal action in many countries and be prosecuted.

Avoid advance payments:

Businesses are often keen to do quick business and so to move things forward they pay in advance. Often they will find that the goods they ordered are never delivered or receive goods that are different to the order they placed. Even if you have previously dealt with the company before you should avoid advance payments.

Check that the goods you have received are exactly what you have ordered. This way you have a little more security. Another factor you should take into account is payment options. Use a safe and secure payment method rather than money transfer agencies that you have never heard of.

Avoid agents or third part vendors:

Third party vendors or agents will often charge you fees so it’s best to avoid them. You may even find that some of them also have hidden fees that can make your products more expensive to purchase. Sometimes you can’t avoid working with third party vendors or agents and if you must then be sure to do checks.

 

Global B2B buy sell website: http://www.bytrade.com

Top 6 ways to increase sales

READ MORE : small business ,increase sales,business ,buy and sell,purchase ,marketplace,sales tips

Small businesses must be extra imaginative with their marketing efforts in order to attract customers and get them to open their wallets. Even more challenging is that most entrepreneurs have shallow pockets and shoppers are being more selective as a result of the sluggish economy and volatile stock market. The following are six proven low-cost marketing ideas that help small businesses increase sales and generate referrals, ultimately helping you build your cash cow, while spending very little.

1. Set up a sales incentive program.

Give your sales staff a reason to get out there and sell, sell, sell. Why do so many businesses that rely on their sales staff to drive sales have incentive programs in place? Because offering their sales staff the trips and/or TVs for x amount of sales works. See Paul Shearstone’s Creating Sales Incentive Programs That Work for how to make your sales incentive program “sweet and simple and attainable”.

2. Encourage your sales staff to upsell.

Essentially, upselling involves adding related products and/or services to your line and making it convenient and necessary for customer to buy them. Just placing more products near your usual products isn’t going to increase your sales much. To upsell successfully, the customer has to be persuaded of the benefit. For instance, when I last had my carpets cleaned, the cleaner noticed a pet stain. Instead of just cleaning it up, he drew my attention to it, and showed me how easily and effectively the spot cleaning solution removed all trace of the stain. Did I buy the spot cleaning solution? You bet. He persuaded me that buying it was beneficial to me and made it convenient to purchase it. Result: increased sales for the carpet cleaning company.

3. Give your customers the inside scoop.

Recently I was shopping at a retail housewares store. I had picked out an item and was mulling over whether to buy it or not when a salesperson came up to me and said, “I see you’re interested in that blender. We’re having a sale next week and all our blenders will be 20 percent off. You might want to come back then.” Guess what? I did – and bought two other items as well. Lesson: if you have a promotion or sale coming up, tell your customers about it. They’ll come back – and probably bring some friends with them too. (And don't forget - you can give your customers the inside scoop by emailing or calling them, too.)

4. Tier your customers.

There should be a clear and obvious difference between regular customers and other customers – a difference that your regular customers perceive as showing that you value them. How can you expect customer loyalty if all customers are treated as “someone off the street”? There are all kinds of ways that you can show your regular customers that you value them, from small things such as greeting them by name through larger benefits such as giving regulars extended credit or discounts.

5. Set up a customer rewards program.

We’re all familiar with the customer rewards programs that so many large businesses have in place. But there’s no reason that a small business can’t have a customer rewards program, too. It can be as simple as a discount on a customer’s birthday or as complex as a points system that earns various rewards such as discounts on merchandise. Done right, rewards programs can really help build customer loyalty and increase sales.

6. Distribute free samples to customers.

Why do so many businesses include free samples of other products when you buy something from them? Because it can increase sales in so many ways. As the customer who bought the original product, I might try and like the sample of the new product and buy some of it, too. Or I might pass on the sample to someone else, who might try the product, like it, and buy that and other products from the company. At the very least, the original customer will be thinking warm thoughts about your company, and hopefully telling other people about your products.

Remember, the more comfortable we keep our customers, the longer they’ll stay, the more memorable experience they’ll have and the more they’ll spend, or pass on positive word-of-mouth. When you’re planning your next marketing activity, remember to stimulate your customers’ senses, including eyes, ears, nose and mouth.

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Top 6 Business Start Up Tips For Success

read more : Start Up,Business,Start business,global business, B2B ,trade

Starting your own business is one of the most challenging but rewarding experiences you will ever embark on. While there is no way to eliminate all the risks involved, careful planning and research can improve your chances of success. The following tips will give you an overview of what's involved in starting out on your own, and the issues you will need to address

Have a Plan & Work That Plan

The first step toward starting a business is to have a plan in place. Most successful businesses take the time to make sure they have a blueprint to success, a plan. When you have a blueprint and a direction to go, you will be so much more successful. There are many free resources across the Internet that can aid you in structuring and thinking through the writing of your business plan. Once you get the plan in place, follow it!

Don’t Try To Do It All Yourself

A wise business owner knows that they can’t do it alone. Even if you have a small budget to begin with, you can enlist the help of a virtual assistant or possibly volunteers or mentors. Get more on board who have experience that can help you in your business.

Know Your Audience (and why they would be interested in your products or services)

Who are you trying to reach? Who needs your product or information? Take the time to do market research and list out who you are selling to and where you can find them - both online and offline. This will help you both when creating the product/service and in your marketing efforts. Also, make sure you keep in touch with your audience and find out how they feel. You can easily create surveys and find out valuable information about what they really think.

Be Clear On Your Rates

You must be clear not only with potential clients, but you must know for yourself what you need to earn. Be brutally honest with yourself about how much you need to earn to keep your business afloat. Now set realistic goals and figure out how to make that happen. Remember in setting your rates that often times you are selling the value of your services or products, and not necessarily the service or product itself.

You Gotta Want It

Someone asked me once why I thought some entrepreneurs succeeded while others, just as talented, failed. My answer? Those that succeeded wanted it bad enough to do whatever it took to make it happen. Running a business isn’t easy, especially in the beginning. There will be long hours, tough critics and disappointments that can’t be prepared for. The entrepreneur who works through the tough times is the one who succeeds in the end.

Get Busy

Don’t wait until you “have it all together” to take that first step - it will never happen. If you have a great idea and have done enough planning to know where you’re headed, go for it. Be prepared to learn some lessons. Be prepared to make changes along the way. But, if you never take the first step you’ll never know the joy of the journey.

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Obama Rules Out Land Invasion of Obamaas Qaddafi's Compound Is Hit Again

read more: Obama, Muammar al-Qaddafi,Libyan leader,coalition airstrikes,Libya,world news

 

President Obama categorically ruled out on Wednesday a land invasion to oust Libyan leader Muammar al-Qaddafi, as a U.S. military commander told Fox News that one of the strongman's compound had been hit again by coalition airstrikes.

The strikes were the second to target a Qaddafi compound, though the specific location wasn't immediately clear. The military source told Fox News that air defense sites were the intended target, and U.S. commanders "don't track where the regime leader is and very specifically do not target him."

Obama said Wednesday that the United States will be pulling back this week from its dominant role in the international campaign aimed at preventing Qaddafi from attacking civilians. Defense Secretary Robert Gates said the U.S. could turn over control of the operation as soon as Saturday.

Obama was asked in an interview with the Spanish-language network Univision if a land invasion would be out of the question in the event air strikes were to fail to dislodge Gadhafi from power. Obama replied that it was "absolutely" out of the question.

Asked what the exit strategy is, he did not lay out a vision for ending the international action but rather said: "The exit strategy will be executed this week in the sense that we will be pulling back from our much more active efforts to shape the environment."

"We'll still be in a support role; we'll still be providing jamming and intelligence and other assets that are unique to us, but this is an international effort that's designed to accomplish the goals that were set out in the Security Council resolution," Obama said.

House Speaker John Boehner, R-Ohio, expressed concerns over Obama's handling of the crisis in a letter sent to president Wednesday.

"I and many other members of the House of Representatives are troubled that U.S. military resources were committed to war without clearly defining for the American people, the Congress, and our troops what the mission in Libya is and what America's role is in achieving that mission," Boehner wrote. 

"A United Nations Security Council resolution does not substitute for a U.S. political and military strategy. You have stated that Libyan leader Muammar Qaddafi must go, consistent with U.S. policy goals. But the U.N. resolution the U.S. helped develop and signed onto makes clear that regime change is not part of this mission," he continued. "In light of this contradiction, is it an acceptable outcome for Qaddafi to remain in power after the military effort concludes in Libya? If not, how will he be removed from power?"

The White House said Obama will continue to update the American people on U.S. military involvement in Libya in the coming days and that an address to the nation hasn't been ruled out.

Secretary of State Hillary Clinton urged Qaddafi to leave Wednesday, saying his inner circle "should make the right decision."

The U.S. has essentially ended its Tomahawk missile missions in Libya as coalition forces launched air strikes over Libya for a fifth day, targeting sites that support or supply Qaddafi's military around the capital and other cities, defense officials said.

A defense official tells Fox News that the U.S. doesn't plan to launch any more Tomahawk cruise missiles unless they are needed. 

"We can fly air missions if we need to take out more air defense systems. We have less expensive means of doing that," the U.S. official told Fox News.

The official says the U.S. is still providing nearly all of the refueling tanker capability to the coalition and intelligence and surveillance from the air. The official also says the U.S. still plans to hand over command to the British and French by next Tuesday.

International forces have also launched new airstrikes near the rebel-held city of Misrata, according to BBC News, as dozens have been killed in fighting in the western city. 

"This morning, airstrikes twice hit the airbase where Qaddafi's brigades are based," a resident of Misrata told Reuters.

Some attacks by pro-Qaddafi forces continued in Misrata, where the doctor and rebel leaders said pro-Qaddafi snipers were firing on civilians from rooftops. Abdel-Hafidh Ghoga, a spokesman for the opposition forces, said 16 people were killed today, including five children.

Ghoga said people are being treated "in the hallways of buildings" because they did not dare go outside.

A doctor in Misrata said Qaddafi's tanks fled after the airstrikes, giving a much-needed reprieve to the besieged coastal city, which is inaccessible to human rights monitors or journalists. The airstrikes struck the aviation academy and a vacant lot outside the central hospital, the doctor said.

Rear Adm. Gerard P. Hueber, chief of staff of Joint Task Force Odyssey Dawn, says they have increased combat operations in the rebel stronghold over the past 24 hours.

Hueber said the coalition was targeting Qaddafi's mechanized forces, his artillery and mobile missile sites as well as ammunition and other military supplies. He said coalition forces have moved west to try to protect Ajdabiya and Misrata.

U.S. officials say forces loyal to Qaddafi continue to advance on opposition-held areas.

"Some of these cities still have tanks advancing on them to attack the Libyan people," Rear Adm. Peg Klein, commander of the expeditionary strike group aboard the USS Kearsarge, told Reuters.

The U.S. bombed the wreckage of the F-15 fighter jet that went down Tuesday, a military official told Reuters.

The wreckage was bombed overnight "to prevent materials from getting into the wrong hands," the U.S. official told Reuters.

The Pentagon said Wednesday that there is no evidence that the U.S.-led assault has caused any civilian casualties.

A British military official says Qaddafi's air force "no longer exists as a fighting force," according to BBC News.

"We have Libyan ground forces under constant observation and we attack them whenever they threaten civilians or attack population centers," Britain's Air Vice Marshal Greg Bagwell told the BBC.

Qaddafi's forces intensified the shelling of rebel positions outside a strategic eastern city as they fought to prevent the opposition from taking advantage of the five-day-old international air campaign to regroup in the east.

Western diplomats, meanwhile, said an agreement was emerging about NATO would take responsibility for a no-fly zone over Libya after the United States which has effectively commanded the operation until now -- reiterated that it was committed to the transition.

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In what has become a common pattern, pro-Qaddafi troops who have besieged Ajdabiya -- a city of 140,000 that is the gateway to the east -- attacked a few hundred rebels gathered on the outskirts. The rebels fired back with Katyusha rockets but have found themselves outgunned by the Libyan government's force.

Plumes of smoke rose over the city's skyline.

"The weapons they have are heavy weapons and what we have are light weapons," said Fawzi Hamid, a 33-year-old who joined the Libyan military when he was younger but is now on the rebels' side. "The Qaddafi forces are more powerful than us so we are depending on airstrikes."

Most of eastern Libya is in rebel hands but the force -- with more enthusiasm than discipline -- has struggled to take advantage of the gains from the international air campaign, which appears to have hobbled Qaddafi's air defenses and artillery and rescued the rebels from impending defeat.

The coalition includes the U.S., Canada, several European countries and Qatar. Qatar was expected to start flying air patrols over Libya by this weekend, becoming the first member of the Arab League to participate directly in the military mission.

The Obama administration is eager to relinquish leadership of the hurriedly assembled coalition, but divisions have emerged over who would take over.

A compromise proposal would see NATO take a key role in the military operation guided by a political committee of foreign ministers from the West and the Arab world. Officials said the North Atlantic Council -- NATO's top decision-making body which already has approved military plans for enforcing the no-fly zone -- may decide to start them later Wednesday.

Spanish Defense Minister Carme Chacon endorsed the proposal for handing over control of the Libya operation to a political committee. "We are comfortable with that," she said.

 

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World's Billionaires 2011

Read More: Bill Gates, Carlos Slim Helu, Dustin Moskovitz, Eduardo Saverin, Facebook, Forbes Magazine, Larry Ellison, Mark Zuckerberg, Microsoft, Slidepollajax, Warren Buffett, Worlds Billionaires, Worlds Richest People, Business News

 

By     

This 25th year of tracking global wealth was one to remember. The 2011 Billionaires List breaks two records: total number of listees (1,210) and combined wealth ($4.5 trillion). This horde surpasses the gross domestic product of Germany, one of only six nations to have fewer billionaires this year. BRICs led the way: Brazil, Russia, India and China produced 108 of the 214 new names. These four nations are home to one in four members, up from one in 10 five years ago. Before this year only the U.S. had ever produced more than 100 billionaires. China now has 115 and Russia 101.

Atop the heap is Mexico's Carlos Slim Helú, who added $20.5 billion to his fortune, more than any other billionaire. The telecom mogul, who gets 62% of his fortune from America Movil (NYSE: AMX - News), is now worth $74 billion and has pulled far ahead of his two closest rivals. Bill Gates, No. 2, and Warren Buffett, No. 3, both added a more modest $3 billion to their piles and are now worth $56 billion and $50 billion, respectively. Gates, who now gets 70% of his fortune from investments outside of Microsoft (Nasdaq: MSFT - News), has actually been investing in the Mexican stock market and has holdings in Mexican Coke bottler Femsa and Grupo Televisa (NYSE: TV - News).

While nearly all emerging markets showed solid gains, wealth creation is moving at an especially breakneck speed in Asia-Pacific. The region now has a record 332 billionaires, up from 234 a year ago and 130 at the depth of the financial crisis in 2009. Sizzling stock markets are behind the surge. Three-fourths of Asia's 105 newcomers get the bulk of their fortunes from stakes in publicly traded companies, 25 of which have been public only since the start of 2010.

America's wealthiest still dominate the global ranks, but the U.S. is losing its grip. One in three billionaires is an American, down from nearly one out of two a decade ago. It has 10 more than last year but 56 fewer than its 2008 peak. The U.S. is adding new billionaires at a much slower pace; just 6% of its 413 billionaires are new this year compared with 47% of China's and 30% of Russia's.

Still there are plenty of inspiring newcomers who figured out clever ways to get rich. The most obvious example is the success of Facebook, whose soaring valuation over the past couple of years — based on the most recent institutional round the company is worth $50 billion — has spawned six billionaires. Leading the group is Facebook's CEO Mark Zuckerberg, whose fortune jumped 238% to $13.5 billion in the past year. Also joining him in the world ranks are his cofounders Eduardo Saverin and Dustin Moskovitz, its first president Sean Parker (played by Justin Timberlake in "The Social Network") and the Russian Internet investor Yuri Milner. Moskovitz, 26, is eight days younger than his former college roommate Zuckerberg, making him the world's youngest billionaire.

The frenzy among big investors for all things social pushed up private market values of online gaming outfit Zynga and online group-buying site Groupon, creating two more new billionaires, Mark Pincus (who taught people to farm on Facebook) and Eric Lefkofsky (who was Groupon's lead investor).

Other notable American newcomers include Do Won and Jin Sook Chang, the cofounders of Forever21, and Chris Cline, who owns 3 billion tons of coal reserves, mostly in Illinois.

Why do we spend so much time counting other people's money? Because these moguls have the power to shape our world. Telecom billionaire turned prime minister Najib Mikati is keeping Lebanon's government together. Ernesto Bertarelli, who lost the America's Cup to Larry Ellison last year, is now focusing on saving the oceans from mass extinction. Gates and Buffett have already traveled to three continents working to change giving practices among the ultra-rich.

Where their inspiration leads, we will follow.

A note on methodology: More than 50 reporters in 13 countries worked on compiling the list this year, valuing individuals' public holdings, private companies, real estate, yachts, art and cash. Net worths were locked in using stock prices and exchange rates from Feb. 14.

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The Top 10 Billionaires in the World

No. 1 Carlos Slim Helú & family

Net Worth: $74 billion ↑
Source: Telecom
Citizenship: Mexico

The world's richest person for a second year in a row, the Mexican telecom mogul is also the year's biggest gainer, having added $20.5 billion to his fortune and widened the gap between him and No. 2, Microsoft cofounder Bill Gates, to $18 billion. A 19% rise in the Mexican stock market, a stronger peso, and successful mining and real estate spinoffs from conglomerate Grupo Carso all contributed to the astonishing increase. He also merged his fixed-line telecom company into America Movil, Latin America's largest wireless carrier; the Slim family stake in that holding accounts for 62% of his net worth. He has other holdings in retailer Saks and the New York Times. Recently unveiled a new building for his Soumaya Museum, which houses his vast art collection. It is open to the public for free.

No. 2 Bill Gates

Net Worth: $56 billion ↑
Source: Microsoft
Citizenship: U.S.

Microsoft mogul, futurist and America's richest person has, with help from billionaire buddy Warren Buffett, convinced nearly 60 of the world's wealthiest to sign his "Giving Pledge," promising to donate the majority of their wealth to charity either during their lifetime or after death. He is no longer the planet's richest person, but that's because he's given away $30 billion to his foundation. The Gates Foundation, the world's most influential charity, tackles tuberculosis and polio and funds famine-resistant crops to fight hunger. He is calling for a higher sense of urgency in AIDS vaccine development and also pushing for better tools to rate teacher performance. Gates holds 70% of his wealth in investment fund Cascade, dabbling in everything from autos to hedge funds to Mexican Coke bottler Femsa; the rest of his wealth is held in Microsoft stock.

No. 3 Warren Buffett

Net Worth: $50 billion ↑
Source: Berkshire Hathaway
Citizenship: U.S.

The venerable investor's Berkshire Hathaway climbed more than 15% over the last year, adding $3 billion to his fortune. The 80-year-old is still hunting big deals

"Our elephant gun has been reloaded, and my trigger finger is itchy." Along with bridge partner Bill Gates, the Oracle of Omaha is coaxing America's richest to pledge half their fortunes to charity. "Too often a vast collection of possessions ends up possessing its owner. The asset I most value, aside from health, is interesting, diverse and long-standing friends." Buffett faked breathing problems when he was 12 so he could move back to Omaha from Washington, D.C., where his father was a freshman congressman. He had read every book about investing in stocks in the Omaha Public Library by the time he was 12. He met value investor Benjamin Graham at Columbia; bought textile firm Berkshire Hathaway in 1965, and transformed it into massive holding company: food, insurance, utilities, industrials. Buffett acquired railroad giant Burlington Northern Santa Fe for $26 billion in 2009

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No. 4 Bernard Arnault

Net Worth: $41 billion ↑
Source: LVMH
Citizenship: France

The Lord of Luxe easily retains title of richest European. Fortune surged by $13.5 billion as shares of his luxury goods outfit, LVMH, rose by more than half over the past year thanks to strong demand for luxuries like Dom Perignon champagne, Cognac Hennessy, Tag Heuer watches and Louis Vuitton accessories, particularly in Asian markets like Shanghai and Ho Chi Minh City. The group acquired 20% of Hermes last year; Arnault insists he is a friendly shareholder but Hermes sees it as hostile. In March the Bulgari family transferred its majority holding in its brand to LVMH in exchange for LVMH shares and board seats. LVMH fired Christian Dior designer John Galliano after he apparently made anti-Semitic remarks. Renaissance man also owns yacht builder Royal Van Lent, a hotel in Courchevel; has stakes in French retailer Carrefour and French tour operator Go Voyages

No. 5 Larry Ellison

Net Worth: $39.5 billion ↑
Source: Oracle
Citizenship: U.S.

The Oracle chief sits atop a fortune that is $11.5 billion bigger than last year thanks to a 30% jump in the software company's shares. In November Oracle won a mud-slinging copyright infringement court battle against German software rival SAP worth $1.3 billion. SAP is contesting the outcome. Oracle has acquired 75 companies over the years worth $40 billion, and figured out a way to turn a profit on its latest big buy, Sun Microsystems, in 2010. One of the highest-paid executives in the U.S., Ellison reaped $960 million in compensation in the past five fiscal years, mostly from exercising stock options; he recently cut his salary to $1. An avid yachtsman, Ellison spent a decade and over $100 million on his quest for the America's Cup, which he finally won in February 2010, beating Swiss rival (and billionaire) Ernesto Bertarelli. He is bringing the America's Cup to San Francisco in 2013. Intends to give 95% of wealth to charity.

No. 6 Lakshmi Mittal

Net Worth: $31.1 billion ↑
Source: Steel
Citizenship: India

Net profits at his ArcelorMittal, world's largest steelmaker, were up 18-fold to $2.9 billion in 2010 due to recovery in steel demand and higher margins. Group spun off its stainless steel unit into Aperam, a new listed company, and also acquired Canadian miner Baffinland Iron Mines. Funding a 377-foot sculpture called ArcelorMittal Orbit in London's Olympic Park for the 2012 Olympics. Europe's richest resident who lives in London, he bought Alderbrook Park, a 340-acre country estate outside of the city, where he plans to build an eco-friendly country mansion for a reported $40 million. Daughter Vanisha acquired stake in Roc Capital Management, a New York hedge fund. Daughter-in-law Megha owns German fashion house Escada.

No. 7 Amancio Ortega

Net Worth: $31 billion ↑
Source: Zara
Citizenship: Spain

Amancio Ortega stepped down as chairman of Inditex, the $15.8 billion (sales) fashion company, in January; he still gets 87% of his fortune from his stake in the publicly traded firm. The company, which operates under several brand names including Zara, Massimo Dutti and Stradivarius, has 5,000 stores in 77 countries.

Ortega also owns properties in Florida, Madrid, London and Lisbon, a horse-jumping circuit, a stake in a soccer league; and has interests in gas, tourism and banks. Railway worker's son, he started as a gofer in a shirt store. With then-wife Rosalia Mera, also a billionaire, started making dressing gowns and lingerie in living room. Daughter Marta works for Inditex.

No. 8 Eike Batista

Net Worth: $30 billion ↑
Source: Mining, oil
Citizenship: Brazil

Brazil's richest man is gearing up to take over the world. Making a play for foreign investors, Batista announced this year the opening of an office in New York and his intention to list some of his companies on the London Stock Exchange. Through his holding company, EBX, Batista controls businesses spanning mining, shipbuilding, energy, logistics, tourism and entertainment. After months of discussions, he was triumphant in February in taking control of Canadian gold outfit Ventana. Two-thirds of his fortune comes from OGX, the oil and gas exploration company he founded in 2007 and took public a year later. He says the company will start producing oil this year. In rare recent setback, his planned IPO for his shipbuilding business (OSX), meant to be the world's largest IPO in 2010, was a disappointment and has had a lukewarm reception in the Brazilian market. The son of Brazil's revered former mining minister, who presided over mining giant Companhia Vale do Rio Doce, got his start in gold trading and mining. Onetime champion offshore powerboat racer; formerly married to Playboy cover girl. In media interviews he's been warning Carlos Slim Helú that he'll soon take his spot as the world's richest man, but he still has a ways to go.

No. 9 Mukesh Ambani

Net Worth: $27 billion ↓
Source: Petrochemicals
Citizenship: India

His oil and gas conglomerate Reliance Industries, India's most valuable company, just forged a partnership with BP, selling 30% stake in 23 oil blocks in India for $7.2 billion and forming a marketing joint venture. The deal is being touted as one of biggest foreign investments in India. He's also betting on shale gas, having bought stakes in three American energy firms for $3.3 billion last year. He and wife Nita host parties at their recently completed 27-story sky palace in Mumbai, but have yet to move in permanently.

No. 10 Christy Walton & family

Net Worth: $26.5 billion ↑
Source: Wal-Mart
Citizenship: U.S.

Widow of John Walton inherited her wealth after the former Green Beret and Vietnam War medic died in an airplane accident near his home in Wyoming in 2005. Now world's richest woman, she got an extra bump in her fortune because of her late husband's early investment in First Solar; shares up nearly 500% since 2006 initial public offering. But bulk still comes from her holdings in Wal-Mart, the retailer founded by her father-in-law Sam Walton and his brother James in 1962. Today Wal-Mart has sales of $405 billion, and employs more than 2.1 million people. The philanthropist supports museums, education and organic gardening.

 

 article source : http://finance.yahoo.com/career-work/article/112309/worlds-billionaires-2011