Home Business Center Newsletter November
2002
"Create a To-Don`t list that contains tasks, rituals and meetings that you should never waste time on
again.
Then stick to it."
- Tom Peters, Management Guru & author
> Answers to Subscriber Questions
- 10 Ways to Maintain Profits in a Slow Economy
- Business Plan BASICS
- Desktop Publishing: How to Make Money at Home
- LEGAL Help: Free Information
- Tips from Home-Based Import-Export Leader
- Take Advantage of Current Trends: Make a Profit
- Home Businesses with LOWER Start-up Costs
- Advertise Indoors: and Find a Captive Audience
> Business of the Month
& Business Tool of the Month
> Advertising with HomeBusinessCenter.com
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We welcome your ideas and suggestions.
support@homebusinesscenter.com
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10 Ways To Maintain Profits In A Slow Economy
courtesy of Larry Dotson
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1. Sell more back end products to your existing customer base. You already created rapport, trust and proved
your credibility to them.
2. Make it a practice to up sell to new and existing customers. After they decide to buy one product, offer
them another product.
3. Cross promote your products and services with other businesses that aren't competition. You will reach a
wider audience at less cost.
4. Create joint venture deals with other businesses. You can expand your product line and target other
profitable markets at a lower cost.
5. Start an affiliate program for your business. You will be able to spend less profits on risk advertising
and spend more money on guaranteed sales.
6. Trade advertising with other businesses to save revenue. You could trade e-zine ads, banners ads, links,
print ads, etc.
7. Out source part of your workload. This can save on employee costs, equipment costs, taxation costs,
expansion costs, etc.
8. Add low cost bonuses to your offer that have a high perceived value. It could be ebooks, members only
sites, consulting, e-reports, etc.
9. Use viral marketing to promote your business on the internet. Give away free stuff with your ad copy
include on it so others can give it away.
10. Follow up with all your prospects. You can use a free e-zine, a follow-up autoresponder, an update or
reminder list, etc. ----
About The Author
Over 40,000 Free eBooks & Web Books when you visit: http://www.ldpublishing.com As a bonus, Bob Osgoodby
publishes the free weekly "Your Business" Newsletter - visit his web site to subscribe and place a FREE Ad!
http://adv-marketing.com/business
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Business Plan BASICS
The first step in starting a business is also the tool that will help you stay organized and avoid feeling
overwhelmed.
Courtesy of Palo Alto Software, Inc.
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The best way to show bankers, venture capitalists, and angel investors that you are worthy of financial
support is to show them a great business plan.
Make sure that your plan is clear, focused and realistic. Then show them that you have the tools, talent and
team to make it happen.
Your business plan is like your calling card, it will get you in the door where you'll have to convince
investors and loan officers that you can put your plan into action.
Once you have raised the money to start or expand your business, your plan will serve as a road map for your
business. It is not a static document that you write once and put away.
You will reference it often, making sure you stay focused and on track, and meet milestones. It will change
and develop as your business evolves.
Do I need a business plan?
Not everyone who starts and runs a business begins with a business plan, but it certainly helps to have one.
If you are seeking funding from a venture capitalist, you will certainly need a comprehensive business plan
that is well thought out and contains sound business reasoning.
If you are approaching a banker for a loan for a start-up business, your loan officer may suggest a Small
Business Administration (SBA) loan, which will require a business plan.
If you have an existing business and are approaching a bank for capital to expand the business, they often
will not require a business plan, but they may look more favorably on your application if you have one.
Reasons for writing a business plan include:
- Support a loan application
- Raise equity funding
- Define and fix objectives and programs to achieve those objectives
- Create regular business review and course correction
- Define a new business
- Define agreements between partners
- Set a value on a business for sale or legal purposes
- Evaluate a new product line, promotion, or expansion
What's in a business plan?
A business plan should prove that your business will generate enough revenue to cover your expenses and make
a satisfactory return for bankers or investors.
A) Executive Summary--features the highlights of your plan and sells your idea in two pages or less.
B) Company Summary--a factual description of your company, ownership, and history.
C) Products (or Services or both)--describes your products and/or services and how they stand out from
competitive products and services.
D) Market Analysis-provides a summary of your typical customers, competitive landscape, market size, and
expected market growth.
E) Strategy and Implementation-describes how you will sell your product, how you will put your plan into
action, and establishes milestones.
F) Management Summary-provides background on the management team, their experiences, and key
accomplishments.
G) Financial Plan-contains key financials including sales, cash flow, and profits.
What makes a successful business plan?
- A well thought out idea
- Clear and concise writing
- A clear and logical structure
- Illustrates management's ability to make the business a success
- Shows profitability
How do you write a business plan?
Sitting down looking at a blank computer screen as you prepare to start your business plan can be daunting.
You may want to look at some alternatives that will make the process a bit easier.
Hire a Professional
A professional consultant will create the business plan for you, but you still have to be prepared to think
through your business and understand the underlying concepts in your business idea.
You will have to work closely with the consultant to ensure that he or she develops a good plan that
accurately represents your business or business idea. You can find a list of business planning consultants at
www.planconsultants.com.
Buy a Book
There are many good books on the market that will help you to understand what needs to go into a good
business plan. You can read Timothy Berry's "Hurdle: the Book on Business Planning".
Use Business Planning Software
A good business planning software package will provide you with an outline for a well-developed,
objective-based and professional business plan. Software packages will remove the problem of starting from
scratch by structuring your plan for you.
The software should ask you the right questions that will pull out the most important underlying concepts
within your business idea. Find out more about the leading software package on the market, Business Plan
Pro.
Start planning - Free Miniplan
Tool
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Desktop Publishing: How to Make Money at Home
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Where is the desktop publishing industry headed?
Find out what traditional start-up costs are, what day-to-day operations are like and how to find your
customers by working within your local community.
click here
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NEW! Legal Help: Free Information
Protect your business! Get your contracts and documents reviewed, IRS audit protection, unlimited legal
consultations and more.
click here
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Short on time, but want a professional look without paying a professional designer? Use pre-made web page
templates:
click here
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News from Home-Based Import Export Leader
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UPGRADED SUPPORT:
11 New Language Translations Now Available
WTA to Offer Affiliates Quick & Easy Translations to Enable Even Higher Returns on Investment
Las Vegas, October 2, 2002 - World Trader’s Association, Inc. (WTA), the world`s leading association of
import/ export and surplus/wholesale merchandising businesses, today announced an agreement to provide its
affiliates around the world with a new translation service, enabling them to conduct their businesses in 11
different languages.
For WTA and its affiliates, this represents a major leap forward in leveraging the high demand for, and the
increasing importance of, global business opportunities.
WTA partners now have the opportunity to tap into new markets by starting to offer multiple languages to
target customers not only from different countries, but also to those communities within their own country.
Within the U.S. alone, only 45 percent of Internet users` native language is English. WTA partners can now
reach this huge market with the simple touch of a button.
The easy-to-use technology can take any content in any of the 11 languages and quickly translate it into any
of the other languages, including French, Spanish, German, Korean, Russian, Chinese, Dutch, Greek, Italian,
Portuguese and English.
To view WTA`s redesigned home page with the new feature, please visit http://www.wtraders.com and look in
the upper left-hand corner.
Scott Rinaldo, President, WTA, Inc, said, "The ability to deliver instant translations presents a very
interesting opportunity. We have made this addition to our services because our international business dealings
have increased so much and with them the demand for multiple languages."
He continued, "We have developed a reputation as a leading supplier of our types of services and expanding
into other languages represents the exciting next step for all of us. WTA has always been one of the most
innovative companies in our business segment."
For your free information packet,
click here
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Take Advantage of Current Trends: Make a Profit
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Certain products and services are increasing in popularity. As an entrepreneur, you can take advantage of
these trends and structure your business to incorporate and offer these services.
If any of these home businesses interest you, this may be the perfect time to get started.
Computer Consulting
Computer Game Designer
Personal Trainer
Photography Business
Personel Referral
Service
Success Coach
eLearning
Technical Writer
Virtual Assistant
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Home Businesses with LOWER Start-up Costs
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Unique and easy work-at-home ideas.
Have you ever wondered how others make money? The truth is, the simplest ideas often generate the most
income.
We recently discovered a new resource that details Lots of simple and unique ways to make money at Home.
`Secret Underground Business Plans, Projects and Ideas` has caused a lot of excitement.
There are over 400 pages of highly unusual and low-cost ways to make money with products and services
related to arts and crafts, computers, the Internet, mail order, providing services to local businesses and
much more.
Click here to get more
information
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Free 12-session internet course on how to start your own business:
click here
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Advertise Indoors: And Find a Captive Audience
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Step 1: Get your prospect`s attention.
A simple idea, yet a challenging and often frustrating task. Distractions are the problem, and you want to
get rid of as many as you can to increase your advertising results.
With indoor advertising, you can use attractive, professional full-color poster ads that are displayed where
your target market frequents, and where they are a captive audience: restrooms!
Some examples are restrooms of popular nightclubs, restaurants, health clubs, and arenas, dental offices,
department stores, theaters, gas stations and day care centers.
more information
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Business of the Month
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Business Tool of the Month
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For more information on quality home businesses
and effective marketing techniques, click here
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