When you set out to start a business, you might set a goal to "make money." This is rather shortsighted in today's competitive marketplace. A real business profitability goal is needed.
The question comes up, what is a business profitability goal? How do you go about setting up a business profitability goal?
What is a realistic business profitability goal? This may differ from business to business and from market to market, but there are some general rules that should be followed. The first and most important is to establish a realistic and detailed profitability goal from the very beginning.
Sounds good, but again how is the best way to go about this task?
A comprehensive business plan is the best way to start any business. Not only does it provide a guideline for the entrepreneur, but it is also going to come in handy when he is out seeking start up financing.
Even if this start up financing is coming from your own savings, you need a business profitability goal.
Any financial lending institution is going to want to see a good comprehensive business plan with a clearly defined profitability goal before they make a business loan. They clearly understand that cash flow is not the same as profit and will not be as interested in the large amounts of cash that is expected to be generated as they will be in the bottom line profit. The lending institution understands the importance of profit in the sustainability of a business.
A good business plan that has established a realistic business profitability goal will make maximum use of every available business resource. Business resources come in many forms. Depending on the type of business your thinking about would determine where the resource would come from.
Another important element of a profitability goal is good and accurate reporting. A goal is considered to be a point in the future toward which your efforts are being directed. Business reports are like roadmaps showing if you are at least going in the right direction. The very nature of a profitability goal assumes that you will not reach it at once. If you see that you are falling short, it is the time to make adjustments to your operations and budgeting to get back on track.
Business is a complicated thing in this modern era. The opportunities that exist are mind boggling as we move closer and closer to a Global market place. At the same time, the importance of knowledge and data has never been greater to remain competitive. Even the smallest business needs a profitability goal that is realistic and can be monitored and adjusted as needed.
That is one reason a home based business is so attractive to many today. Even in a home based business it is important to set a business profitability goal. Remember you must monitor your business profitability goal and be willing to be flexible and adjust as needed.
Jerry Snyder SEO Consultant |
Wednesday, September 24, 2008
Business Profitability Goal
Make Money on Craigslist
Looking to make some extra money? Why not try what a lot of people are doing, market your products, services, or stuff on Craigslist, or try one of the many businesses listed on Craigslist. If your selling your services, or items, you can specify your location which will help people find you in your town. Cities like Seattle, Chicago, Austin, New York (these are only a few select cities), and Boston have their own unique Craigslist sites, as do most cities around the world. Make a listing of your own merchandise in the "For Sale" section to sell old items such as books, CDs, DVDs and other goods.
According to articles found on the Internet, there are many "out of the ordinary ways to make money on Craigslist." Again, if you're looking for a way to earn extra money, the "Gigs" section has numerous opportunities. There are many people who post inquiries on Craigslist to buy art and solicit odd services from people just like you. One recent posting in the Gigs section was from a woman looking to purchase art for her home. This may be a refreshing opportunity for artists who want to sell their paintings or crafts directly to consumers.
As mentioned before, Craigslist has opportunities and listings in every city around the country. It's easy to find money making opportunities to cash in on. People list all sorts of requests in the "Gigs" section, including menial tasks such as recording a TV program. There was a posting on Craigslist offering $10 to record an NBA basketball game. This is only one of many unbelievable opportunities to make money on Craigslist.
Craigslist attracts a lot of scam artists. So before you start any money making adventure make sure you follow some steps to protect yourself. One on the best ways is to set up a separate email account, one that is unique to your Craigslist business. Using an email address separate from your personal email address will help to keep spam and scams separated from your personal emails. Working an online business does have its challenges, so make sure you do the best job of protecting yourself. The unique email address should be your business email used specifically for making money online.
Some of the money making opportunities on Craigslist do not list complete details, so make sure you do your due-diligence. Call or email the principles. Search Google for information on these individuals. One very important piece of advice is, if they do not list their phone number, or don't want you to call them, run the other way. It's imperative that you get the necessary details up front before promoting any service or merchandise. Also, if you're the one who is selling an item, make sure to provide enough information for buyers. Gather as much information as possible before selecting any money making opportunity.
Jeffrey Sloe, Internet Marketing Advisor
440-725-3729
jeff@internetmarketingadvisors.net
The Network Marketing Paradigm Group
Tomorrows Home Business
Tuesday, September 23, 2008
Computing Business Profitability
If your contemplating starting a business or if you are the owner of a business, it is important you should understand the importance of computing business profitability. With any business, no matter what goods or service is being provided, it is very important that the owner understand the business side of the business. The purpose of your company, business is to generate a profit.
Fixed Versus Variable Expenses
When computing business profitability, you will notice that your business has many different expenses. Some of these expenses are fixed and others are variable. Fixed expenses are expenses that you must pay no matter how much product you make. This is something you pay even if you do not open up your business for the month. Examples of fixed expenses are rent, employee expenses, and some utility costs.
Variable expenses are expenses associated with creating additional product.. You only have this expense if you produce an additional product. It is important in computing business profitability, that you make sure that you are at a minimum covering your variable expenses. If you are not covering your variable expenses, then you are losing money with each unit you produce. Revenue versus Profit
Many people think that profit is the money a business brings in. This is not true. The total money brought in by the business is called revenue and this is different from profit. For example, if you sell an item for $100, you have $100 of revenue. To get to profit, you need to subtract the expenses out. For that $100 product, it may have cost $50 to make, there could have been additional overhead costs of $10, and employee expenses of $5 associated with that product. That would mean that there was $65 of expenses associated with that one product. So out of that $100 of revenue from the one product, you will make $35 of profit.
As you can see, it is important to set your business goals to make a profit, not just make revenue. This is the importance of computing business profitability. You need to make sure that your business brings in enough money to not only cover the expenses but make sure that there is something extra so that you can take some money out of the business.
Get Professional Help
Computing business profitability can be a tall order, especially for a small business owner. You should hire a competent accountant or attorney to help you with your analysis. There are many profitability ratios that can be used to show the health of your business.
The more you know about the profitability of your business, the better off you will be. It is important that you stay up to date regarding the financial health of your business. You should constantly be computing your business liability and making any necessary changes. Business Model
There are all kinds of business models. One of the Best is buying customers. How do you do this? Why is this a good thing? Visit our site today to learn of the best business on Google today and what we stand for. http://networkmarketing.aboutleads.net/ Jerry Snyder SEO Consultant |
Monday, September 22, 2008
Make Things Happen with Your Home Business
In one of my previous articles, I wrote about starting a home business, and the fact that anything worthwhile (like a home business) takes time and hard work. The same day I wrote that article I received a newsletter from one of my online friends. In the newsletter there was a story titled, "There Are 3 Kinds of People". I thought it was important enough for anyone attempting to build a home business that I thought I would share the story in its entirety. The story is courtesy of the Symbiotic Givers (individuals making things happen, rather than wondering what happened).
"There Are 3 Kinds of People
Which one are you? 1. People who make things happen 2. People who watch things happen 3. People who wonder what happened
The people who make things happen internalize what it will be like, when the thing to be done has been accomplished. These people tend to talk less and show more by their results.
The people who watch things happen internalize fear. This fear and lack of action makes them a watcher. The playing it safe thought process guarantees that they will only get the crumbs of life, that are left over from everyone else. These people tend to talk more and analyze everything. They always talk about how they would do it differently if it were them. The big problem here is that it never is them; because all they ever do is watch.
The people who wonder what happened internalize their own confusion. Since it is easier for them to just act confused; rather than find out the who, what, where, and why of an occurrence. They never get to really enjoy the sweet feeling of personal accomplishment and becoming all that you can become. These people talk the most. They engage their mouths and let their lips flap away; and then they engage their brain after the fact. Usually the only way these people could say less would be by talking more.
Focus on results and forget the excuses
People of results do not have or accept excuses. Either it got done or it did not get done.
'Do not be overcome by evil, but overcome evil with good' "
What type of person are you? If your home business is successful, or you're on the path to success, chances are, you make things happen. As mentioned previously, it takes hard work to build a home business. Working hard is NOT busy work, BUT rather the tough work that needs to be done in order to be successful. Are you just doing busy work? If so, stop and start doing what needs to be done to make your home business a success.
The success of your home business will only come from YOU! Don't rely on your family, friends, sponsor, or anyone else to build your home business. Don't sit around watching things happen, because NOTHING is going to happen unless you make things happen. And most importantly, stop wonder what happened to my business or what will happen to my business? Nobody has ever succeeded by wondering, what if.
If you plan on being successful with your home business, start making things happen. If you don't know where to start, contact me. I'll give you some action steps!
Jeffrey Sloe, Internet Marketing Advisor
jeff@internetmarketingadvisors.net
440-725-3729
http://tomorrowshomebusiness.healthfulchoice.com
Sunday, September 21, 2008
Craigslist - Good or Bad
According to Wikipedia, Craigslist is a central network of online communities, featuring free online classified advertisements (with jobs, internships, housing, personals, erotic services, for sale/barter/wanted, services, community, gigs, resume, and pets categories) and forums on various topics.
Craigslist service was founded in 1995 by Craig Newmark for the San Francisco Bay Area. After incorporation as a private for-profit company in 1999, Craigslist expanded into nine more U.S. cities in 2000, four each in 2001 and 2002, and 14 in 2003. As of September 2007, Craigslist had established itself in approximately 450 cities in 50 countries.
As of 2007, Craigslist operates with a staff of 24 people.[2] Its sole source of revenue is paid job ads in select cities ($75 per ad for the San Francisco Bay Area; $25 per ad for New York, Los Angeles, San Diego, Boston, Seattle, Washington D.C., Chicago and recently Portland, Oregon) and paid broker apartment listings in New York City ($10 per ad).
Not everything on Craigslist is legit. Just like any other online ad posting there sites, there are people on Craigslist trying to con people out of their money. I found this article on MSNBC.com, http://www.msnbc.msn.com/id/23925847/.
In the article, which you can read by clicking on the above link, lawmakers talki about Craigslist being a free service that offers all types on criminal activities. Here is a quote from the article, "it seems there is no evil of which Craigslist isn't capable ... or at least won't get blamed for." I can't help but wonder if a FREE service is really worth it.
I would have to say, if Craigslist wants to change their reputation, that Craigslist needs to have better control over what is posted, or allowed to be posted, on their web sites. Craigslist could charge a small fee for listings to be posted and still be a player in the online marketing/selling arena.
I don't believe Craig Newmark expected Craigslist to become a place of criminal activity. But, as many online marketers know, the Internet is like the wild west. Many online marketers, whether legal or illegal in their techniques and practices, are still chasing after that undiscovered gold. Whether it's the search for the gold, or just the thrill of seeing what someone can get away with, something has to be done about these criminal acts.
To squelch the unlawful online acts, I believe it has to start with companies like Craigslist, eBay, and the like. I've gotten emails from many people that say the Internet is nothing but a terrible place to do business. They have a hard time finding people they can trust. What can we do to help that situation? In my opinion, there are two things you should do, write an article about your experience (good or bad) and search Google for the person or company you're looking to do business with.
It doesn't take long for an article to get to the top of Google, and if there is some unlawful practices going on by the company or person you're looking to do business with, you will find them in your searches. Don't wait for someone else to get scammed, do your part to help stop the criminal activities, whether on Craigslist or not.
Jeffrey Sloe, Internet Marketing Advisor
440-725-3729
jeff@internetmarketingadvisors.net
The Ultimate Team
Tomorrows Home Business
Never Quit Your Home Business
Have you ever wondered how many people actually start a home business and quit before they had a chance to enjoy the fruits of their labor? I know for a fact that it takes hard work and time to succeed in a home business. A home business is no different than a traditional brick and mortar business. Anything worthwhile is the same! Just like the old saying goes, there is no free lunch.
Besides, doesn’t hard work build character? And isn’t character who we are, or who we become?
So if you were to start a home based business, would you survive? Do you have what it takes to endure the tough times? Do you have the character to keep going with the unrelenting effort it takes to make a good living working from home? Those are some questions I ask myself each day when I’m writing for my blogs and forums, but if I don’t do it, it won’t get done.
My thoughts and feelings are more than likely the same thoughts and feelings that anyone has, you know, those thoughts of doubt. I sometimes wonder if I have what it takes to make it in a home based business. Many of these negative thoughts enter your mind when things aren’t going the way you planned. An example of something going haywire would be when your computer crashes and you don’t have the time to fix it, let alone write your posts.
What do you do, give up? Do you just throw in the towel and quit? I’ve been in that position before, but I have never ever quit. I don’t consider myself a quitter, and you shouldn’t either. What if our Lord and Savior, Jesus, quit? What would have happened if He threw in the towel and quit? He never quit; He stayed on earth until His job was complete. Do you want to be like Jesus? Or do you want to quit? Give up? Stop moving forward?
Are you the type of person that doesn’t give up when the going gets tough? Would you like to be on a winning? Are you content to be on a losing team? Why don’t you make a choice right now? Today! Whatever you decide, just don’t quit!
If you’re looking for a home business, check out Tomorrows Home Business (http://tomorrowshomebusiness.healthfulchoice.com), by clicking on the link below.
Jeffrey Sloe, Internet Marketing Advisor
440-725-3729
jeff@internetmarketingadvisors.net
http://tomorrowshomebusiness.healthfulchoice.com
Friday, September 19, 2008
Home Business Due-Diligence
Finding a business to run from the comfort of your own home is not hard. There are new opportunities popping up just about every day. This can be both a good and bad thing. The good news is there is no reason you cannot start a home based business today. The bad news is there is no reason you cannot start a home based business today. Let me explain!
First, the good news. As new home based business opportunities continue to pop up, people will have a better opportunity to start a business and get in on the ground floor. By doing so, that could increase their opportunity to make a significant amount of money.
Now the bad news, as these new home business opportunities keep popping up, individuals will be tempted to jump from opportunity to opportunity in an attempt to make a quick buck. As some of you may already know, they are trying to get rich quick.
This type of behavior has been around for a long period of time and is not good for the entrepreneur trying to build a successful business. A business builder could lose a significant part of their down line, if not the whole down line, when people continue to jump to another opportunity. Losing a large portion of your down line can translate into a large chunk of change.
There are other challenges the “jumpers” face, like the growing pains of a startup company. As companies come online and continue to grow, there has to be a plan in place to allow for company growth, if not, the company has a chance of going bankrupt before they have a chance to grow. This, by the way, is one of the biggest causes of failure for a startup company.
If you are looking to start a home based business, make sure you investigate the principles of the startup company. Make sure they are legitimate businessmen or businesswomen and not scam artists. There are a lot of people that have lost a ton of money because a company went belly up or because they were scammed.
Now the good news!
What is there was a company, built on solid ground, with solid business morals and practices, that if someone jumped ship to go to another “get rich quick” opportunity, and you didn’t lose your down line? Well there is, and that company is TriVita.
TriVita is a solid company with excellent business practices. They have a proven system that sustains in the long term. TriVita markets their products to the customer, and in turn, sell those customers through their media acquisition program (MAP). If a member of your down line ever decides to jump to another opportunity, their customers (people who are buying products) remain in your down line.
Before you start a home based business, make sure you do your due diligence, not only on the company, but also on the principle owners.
Jeffrey Sloe, Internet Marketing Advisor
440-725-3729
jeff@internetmarketingadvisors.net
http://tomorrowshomebusiness.healthfulchoice.com