Tag Archives: Owner

The 7 Principles of Business Integrity

If you have integrity, nothing else matters. If you don’t
have integrity, nothing else matters. — Alan K. Simpson

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What Is Cash Flow?

Cash flow simply means the money that comes into and leaves a business or
household. Money flows into a business in the form of revenues and out through
the form of expenses. Money flows into a household in many forms. Are you
receiving money from a structured settlement or lottery? Those are incoming cash
flows. Do you owe money to anyone? Those are outgoing cash flows.

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Is a Home Business Right For You?

Every morning as people wake up and make the commute to work, many dream of the day when they will finally work for themselves. Every time the boss lets someone know that they must give up their weekend plans for the good of the company, people contemplate the benefits of being the owner of their own business.

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Taking Time Off For Your Business

As a business owner, wouldn’t it be great if you could take time off whenever you needed to? Unfortunately, most small business owners worry that the business will fall apart if they’re not there to mind the store. Too often, they simply lack the appropriate resources for their business to keep going in their absence.

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Customer Service – A Lost Art?

Is customer service a lost art? Before you answer that question, take a moment and think about the last few times you have gone shopping or out to dinner. Okay, now that you have really thought about it, is your answer any different?

Why is it that when we actually DO receive excellent customer service that it makes such an impression on us that we usually choose to go back? Why – because the occurrences are so few and far between!!!

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Three Ways to Put Fresh Spins on Old Marketing Concepts

Are you struggling to find a new twist for old advertising or marketing campaigns?

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Web-Site Savvy For Pet-Care Business Owners

Pet-care business owners don’t have an inordinate amount of time or money to dedicate to hosting, building or maintaining a website. But you should note that the internet plays a part in the daily routine of 88% of Americans, and of those, 92% indicate that it’s a good place for information.

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The Do’s and Dont’s of Creating Lucrative Business Partnerships

I run a small meeting, event and conference planning company based in the New York City area. As an entrepeneur and small business owner with a limited advertising and marketing budget, developing business partnerships has been really helped me to get the word out about the services that I offer. For example, I have aligned myself with a DJ company as the preferred planner for their clients and am actively receiving business and referrals from this source. Also, due to my partnership with a travel agency, I am now handling meetings, conferences and events for inbound corporate groups from abroad. Forming strategic alliances has been and will continue to be a significant part of my long term business plan and model for exponential growth.I have practiced the proverbial “art” of building non-competitive alliances with like minded companies, not just as a new entrepeneur, but also as a business building tool in all of my previous positions. While, on the whole, this strategy has yielded very positive results and significant revenue, there have been some negative consequences. So, I would like to share with you a very basic list of “do’s and dont’s” for creating successful business partnerships.
Do seek out companies where your services would be a natural addition to the resources currently offered. For example, if you are a catering service specializing in healthy cuisine, you might want to partner with health club to offer special incentives to gym goers.
Do choose organizations whose business ethic and overall image are at least generally compatible with yours. The last thing you want is to be associated with an organization who has questionable business practices. Although you may financially gain from such a partnership in the short term, that type of “bad business karma” can only affect you negatively in the long term.
Do determine beforehand whether you will be operating under the aegis of your own company or your partner’s organization. If you are ABC company and your partner is XYZ corporation, will you be marketed seperately as ABC company or an extension of your partner XYZ Inc.? Are you looking strictly for access to new clientele or for an opportunity for exposure as ABC company?
Do specify how referrals will be passed to you. Will clients be contacting you directly or will the initial inquiry pass through your partner?
Do specify your payment structure in writing. Will you paid directly by clients that come to you or will the billing process take place through your partner’s organization? If you are not being paid directly, what is the billing and payment cycle through your partner’s company? What percentage of commission, if any, will you owe to your partner for business that comes in through their company?
Don’t dismiss partnerships with companies, organizations or individuals with whom you don’t have an immediate and obvious synergy. Be open! Be creative! Explore! For example, I am in the process of working with several business coaches to create seminars on how to host successful product launches for home based businesses.
Don’t neglect to do your research. Ideally, partner with an organization that you are familiar with and whose services you have either used personally or in a business setting. (Or, get at least three referrals from others familiar with your potential partner’s services and business style.)
Don’t accept verbal assurances, particularly where commission and payment structure is concerned. Even if you know and trust your partner, having a formal written agreement is insurance against misunderstanding.
Don’t hesitate to question a partnership that is not living up to your expectations. Strategic alliances are a two way street. If your counterpart is following your business agreement, politely remind them of their reponsibilities.
Don’t reveal any information, resources, benefits etc. that make your value proposition unique until you are 100% sure how that information will be used and presented by your business partner.In short, strategic alliances can be an effective method of marketing, advertising and sharing resources. Whatever form your business partnership will take, be sure that expectations are clearly defined on both sides.

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