Good Plum » Money

How to Find a Small Business-Friendly Bank

Erin McKellar — Mon, 16 Aug 2010 19:01:48 +0000

The bank you choose for your business is an important decision. The wrong decision can mean crazy fees, big hassles accessing your money, and frustration. The right decision can mean more money in your bank account and a seamless and positive experience.

Here’s how to find a small business-friendly bank.

Step #1 Identify your needs before you go bank hunting. Do you need a credit card or lending services from your small business bank? Do you need online banking? Do you need 24/7 account access. Do you need to be able to accept wire transfers or electronic banking? Not all banks have lending authority nor do they all provide online banking. If you’re going to be borrowing money or applying for an SBA loan, make sure your bank is comfortable working with the U.S. Small Business Administration (SBA) loan system.

Step #2 How much will you use your bank account? Some businesses only make a few deposits and withdrawals each month. Their bank account is primarily used to cash the occasional check. While other bank accounts are quite active. Determine how active your account will be and how much you’ll generally leave in the account. This will help you determine your potential banking fees and compare options.

Step #3 Make a list of the banks in your community. You can check them out online however it may be helpful to visit each bank, or to narrow your choice to two or three, and meet with a representative. They can answer the questions you may have. When comparing banks be sure to compare features, interest rates and fees.

Here’s a quick list of common small-business banking needs:
1. Checking account
2. Business savings account
3. Credit card
4. Online banking
5. Lines of credit
6. SBA loans
7. Wire transfers
8. Merchant services

Step #4 Before you sign on the dotted line make sure the bank meets your needs for the long term. Are their opportunities to grow? Will you be able to easily cancel your account if you need to?

Step #5 Get the paperwork together in advance. In order to open a business bank account you will need to register your business and get a tax id number. Some banks also require organization papers. Get these documents together before you visit the bank to open your account. It will make the process much easier.

Opening a bank account for your small business is an important decision. Take the time to research small business friendly banks in your area and compare them before you make a decision. Compare features, compare rates and fees and look for a long term relationship.

You Also Might Like

Making Money Using Tutorials

Erin McKellar — Fri, 16 Jul 2010 20:05:34 +0000

Why are tutorials so important for making sales? Because most great marketers agree that educating your customer while also selling to them is very effective.

How do you educate them? By offering free “how to” advice related to the product you are selling. Even though you aren’t giving away your most valuable information, you are still providing good quality advice they can use.

When most marketers give away free information, they just throw together a bunch of useless bonuses to make their product appear more valuable than it really is.

This is not how to do it. Instead, you want to offer great value. This way, your customers will be thinking “if the free stuff is this good, I can’t imagine how great the product must be!”

What kind of tutorials are the most effective?

There’s really no right or wrong answer to that. The best marketers generally use a variety of outlets. For instance, write an informative blog posts along with your email course. Also submit articles to online directories. Post “how to” videos on YouTube. These are all great methods of getting good free information.

That doesn’t mean you shouldn’t sell. At some point you obviously want to tie the free information into your product. Don’t stop educating, but now focus on why the product you are selling is the best option for them.

How do you focus on your product?

First attract people by giving them free information. Do not give them the entire solution to the problem, but more than enough to get them interested. You leave out a piece of the puzzle, which is the product you are selling. Then you explain why they need to invest in it to get the whole story.

For instance, if you have an information product on how to play better golf, you might have ten really great tips in your product. You wouldn’t give those in your free emails. Otherwise people will just ask for a refund when they find that the information they’ve bought is the same.

Instead you might have an e-course on the “top ten mistakes golfers make.” This at least helps them know important things they can avoid doing on the course, even if it doesn’t give them the whole solution.

The bottom line is that if you say nothing worthwhile in your sales letter or emails, people are going to think that what you are selling can’t be that great either. Your free information doesn’t have to give away any of your valuable secrets, but it should provide enough value to generate interest.

You Also Might Like

A Guide to Building Wealth to Grow Your Business

Elliott Kosmicki — Thu, 08 Jul 2010 18:41:19 +0000

Wealth Building Strategies for Entrepreneurs

Introduction

Entrepreneurs are a unique bunch of people. They have the courage to follow their dreams, to take risks and to overcome hurdles in pursuit of their passion. Each entrepreneur views success differently. Some pursue financial success and have financial goals they’re striving to meet.

Others define success as accomplishment and have goals that support that vision. Still others define success as the ability to do something they love each and every day.
Regardless of how you define success, it makes sense to make the most of your money.
As an entrepreneur you have some significant wealth building opportunities and some significant challenges.

This report is designed to address both. Over the following guide, you’ll learn five key elements to building wealth as an entrepreneur. Take these steps, set goals and follow through – you’re an entrepreneur, you can accomplish anything you set your mind to!

1. Save Part Of What You Earn From The Very First Day

It’s easy to get excited when the money starts coming into your new business. However, right from the beginning, it’s important to create a strategy for saving. Why?

Taxes

The government likes to get their money on a regular basis. Depending on your income and the taxes you owe, they generally like it quarterly. That means you not only need to have enough at the end of the year. You also need to save enough every month so you can pay your expected quarterly taxes.

Quarterly taxes are paid in:
• March
• June
• September
• December

And payments are due by the 15th of each month.

How Much Do You Save?

If you set aside 1/12 of your annual expected income tax each month and make quarterly payments, you’re set. Make sure to consult an accountant for proper tax filing information and procedures.

The Unexpected Emergencies

If there’s anything true about money, it’s that you should always count on the unexpected to happen when you’re least prepared for it. Unexpected health issues, computer expenses, car expenses and so on feel much less stressful and significant when you have money set aside to handle them.

How Much Do You Save?

It depends largely on the present state of your finances. If you have debt, then most experts recommend setting aside around $1000. Once debts are paid off, you can increase this ‘emergency’ savings account to a higher level. Ideally, one that can sustain you for six months without an income.

Unexpected Opportunities

Just like unexpected emergencies, there are also unexpected opportunities. It’s wonderful to be able to take advantage of these opportunities, and quite unfortunate when you can’t because you don’t have the cash set aside.

For example, a great joint venture opportunity could come your way requiring you to put up 50% of the capital. If you have it you have the potential to grow your business using this opportunity. If not, you’ll have to pass and hope that another less expensive opportunity arises.

How Much Do You Save?

This is a toughie because you simply cannot predict the future. The best approach is to build a budget, which we’ll talk about in a bit, and see how much you have to set aside for potential opportunities.

New Project Ideas

As an entrepreneur, it’s almost guaranteed that you’re going to have moments of inspiration and innovation. You’ll be taking a shower or driving to an appointment and all of a sudden a great product or service idea will hit you. If you have money set aside, you can get home and begin the process of implementing your new idea.

How Much Do You Save?

Use the same approach as you did for new business opportunities. In fact, you may want to use the same account and call it your ‘business growth’ account. Include an item in your budget that allows for you to save a little bit each month to grow this account.
Invest A Portion Right Back Into Your Business

Speaking of growing your business, a portion of your profits needs to go back into growing it each month. This money will likely be used for things like:
o Product building
o Virtual assistants
o Software memberships/services
o Advertising
o Graphic design
o Continuing education
o Workshops and seminars
o Networking events

How Much Do You Save?

Some experts recommend investing a flat percentage back into your business, for example 40% of your profits should go back into your business. However, other experts recommend building a budget and a marketing plan. Then you know exactly how much you need to set aside to achieve your marketing and business goals.

2. Diversify

Diversification essentially means spreading your money out. The strategy is designed to reduce risk. Theorizing that the more you spread out your investments, the more likely you are to come out on top when some investments struggle. It’s the opposite of putting all your eggs in one basket.

Most experts recommend different strategies depending on where you are in your live and what your investment goals are. For example, according to Suze Orman, “If you are at least 20 years away from retirement, I think having 80% or more of your money in stocks makes sense. If you are within 10 years of retirement, you might want to keep 30% in stocks with the rest in bonds.”

Now she’s talking strictly about retirement savings. The other savings accounts you have, for taxes, business growth and emergencies, can be set up in standard savings accounts, CDs, and short-term bonds.

Speaking of diversification, when saving for retirement self employed individuals have a unique opportunity with the SEP, SOLO 401K and SIMPLE plans. These are each retirement plans set aside specifically for self employed professionals.

Each has its own benefits depending on your retirement goals and your present financial standing. Consult a financial advisor or an accountant accustomed to working with self-employed individuals to find out which plan is best for you.

3. Educate Yourself About Investing And Taxes

While it’s strongly recommended that you hire a financial advisor and an accountant to help you manage your assets, it’s also important to be educated about your options. This ensures you make the right decisions based on what the experts are telling you. It also ensures you hire the right experts for your goals and present financial standing.

Many business owners make the mistake of believing they can write almost everything off as an expense. Not true.

They also tend to muddle their personal and business finances. Mixing accounts, investments and expenses can cause real headaches for you in the future.

It’s critical that you keep your business and personal finances separate. The simplest strategy is to get a business checking account and a debit card associated with this account. Keep all of your receipts organized for your business expenses.

Now there are real and viable business expenses you can write off and a basic question to ask yourself when you’re making any decision is:

“Is this an expense I would incur if I were not in business?”

Typical business expenses include:
• Your computer
• Business operating and account management software
• Rent
• Employee salaries
• Money paid to independent contractors
• Advertising costs
• Business phone bills

And there are some additional expenses home based business owners can deduct. Do your research, talk to an accountant and if you’re going to do your taxes yourself, make sure you keep great records and get educated!

For example, did you know that if you’ve funded your business with credit or a loan, you can deduct the interest charge to you. You can also deduct the money you invest in your retirement account, depending on the amount you invest and how you invest it.

And the same holds true for educating yourself about investments. You want to make sure your investments are as risk free as possible and have as high a return as possible. Finding these opportunities and recognizing them, takes an education.

4. Don’t Spend More Than You Can Afford

Sounds simple enough, right?

If it were really that simple, no one would have credit cards or credit card debt. The single most important thing you can do to achieve great wealth is to not incur credit card debt. If you have it, make a plan to pay it off.

The first step to not spending more than you can afford is to create a budget. Most people shy away from the word budget because it feels tedious, restrictive and well…boring. However, a budget isn’t a diet. It’s a plan and a system for controlling your money. You’re an entrepreneur, you know all about the benefits of planning, right? You plan your business marketing, content, customer service and other systems, why wouldn’t you plan your money too?
Now, you’re a business owner so that means two budgets – one for your business and one for your personal finances.

Here are a few tips to create a budget for both your personal and your business finances.

#1 Don’t forget your savings goals. Pay yourself first is a good mantra to remember when building your budget. Budget savings, for retirement, emergencies, business growth etc, first.

#2 Remember that a budget is a plan and plans change. They adapt to circumstances. For example, you make more money one month than the last – your budget will be modified to reflect this increase in income.

#3 It doesn’t have to be formal. Often, the best budget tools are good old fashioned pencil and paper. Draw it up based on your income estimates for the month (aim low so you have wiggle room) and control where you spend your money.

#4 Your budget is designed to help you attain financial goals – set some financial goals before you try to draw up a budget. For example, if you’re saving for a product launch and an extra intense marketing campaign, knowing how much money you need to save for it will help you plan.

Retirement, a luxury European vacation, a new car each of these potential goals needs to be defined so you can create a budget to save for them. Want to earn a million dollars you’re your stock investments? You need a plan!

#5 Estimate your income realistically. If you normally make $5000 a month, don’t base your budget on the fact that you’d like to make $7500. You’ll only end up short of your goals. That being said, be sure to review your budget each month to see if you had any shortfalls or any excess. That way you can make adjustments for the next month.

Your budget, personal or business, will essentially include two main items: expenses and income. Once you have those itemized you know what you have left to work with.

5. Outsource Strategically

Outsourcing generally makes good business sense if it is a task that meets a few criteria.
The first criterion is generally easy to fit because you probably wouldn’t be considering outsourcing anything if it didn’t. The first criteria is that it should be a task that you’re unskilled in, dislike or would take more time than you want or can invest.

For example, website design is a task that’s commonly outsourced.

The second criterion is a little more challenging. The task should be something that builds your business.

For example, if you outsource website design then that’s to build your business. Outsourcing the cleaning of your home, while it may certainly meet the first criteria, may not be a smart decision from a wealth building standpoint. But don’t throw away the maid coupons just yet, there’s a third criteria.

The third criteria when considering whether to outsource a task is how much your time is worth and what you could be doing otherwise. Going back to that house cleaning service, it would be worth your time if the service costs you $50/hour and you can spend that time you would otherwise be spending cleaning house making more than $50/hour. The trick is to:

A: Know the value of your time

B: Actually spend that time you have freed up on profit generating tasks. If you hire the housekeeper and then go take a nap, well that’s just not building wealth. It might be a really nice afternoon, and those are worth something, but we’re talking about wealth building here.

So How Do You Calculate The Value Of Your Time?

It’s a pretty straight forward calculation. You simply divide your profits by the number of hours you work.

So if you work an average of 80 hours a month and you make $2000 each month in profits (not sales but profits.) then your hourly value is $25

Knowing this number, you can then make an educated decision about what is worth outsourcing and what isn’t based on money alone.

Consider how much time a task takes you to complete and your hourly value. Can you hire out the task at a lower rate than your hourly value? If the answer is yes, and it fits into your present budget, then you’re good to go.

Outsourcing is a great way to free up valuable time so you can focus on building your business and hire experts to manage the tasks that don’t have a direct contribution to the growth of your business, don’t match your skill set, personality, or if you have time limitations.

Before You Get Started

Okay, we’ve talked about five distinct strategies and steps to wealth building for entrepreneurs. There are a few steadfast rules we need to make sure are mentioned. These ‘rules’ are essentially the foundation for great wealth regardless of whether you’re thousands of dollars in debt or starting off with a healthy savings account and good spending habits. For the entrepreneur, they are essentially ‘musts.’

They include:

#1 Save Enough Money To Live On For Six Months

This little cushion is more than an emergency fund; it’s going to save your health. Stress is a killer and as an entrepreneur it’s entirely possible that you’re going to have lean months. In order to be able to stick with it and see your business and success dreams become a reality, you may have to go through a few tough times. Having this cushion will help give you the courage to persevere and it’ll remove risk and stress so you can focus on building your business.

Additionally, if you don’t ever use this emergency fund, great! Roll it over into your retirement savings plan, throw a wedding, or put a kid through college. It’s just icing on the cake.

#2 Make Sure You Have Insurance

Health insurance is a must. If you’re not on someone else’s insurance then look into getting some sort of emergency medical insurance. These plans have high deductibles and low monthly premiums so they’re affordable and they help ensure you don’t have to pay out of pocket for any health emergencies.

And assuming you have an emergency fund, you can take care of the deductible with your savings. Unexpected medical expenses are among the leading causes of bankruptcy and foreclosure – health insurance eliminates this risk.

#3 Get Rid Of Debt

Debt is stressful, it’s expensive and it ties up your money when you could be using it to make more money with investments. If you have debt, chin up, you can get rid of it. Remember, you’re an entrepreneur; you can accomplish anything you set your mind to. Create a plan to get rid of it and seek help if you need it.

You don’t want to have to worry about debts when you’re building a business. You want to be able to focus 100% of your attention to achieving your dreams.

And though we’ve already said it, we’ll say it again – Create a budget and make sure you pay yourself first! Create financial goals for yourself and make a plan to achieve them. Your budget is your first tool for building great wealth.

You Also Might Like

How To: Make Money with CPA Networks

Scott Reynolds — Wed, 30 Jun 2010 13:08:50 +0000

There is a lot of interest in learning how to earn with CPA networks. There is also some confusion about how these programs work. Here is an explanation of how you can make money with CPA networks.

CPA stands for cost per action. When you join a CPA network, you earn money for getting prospects to take a specific desired action. Some possible actions a prospect might be asked to take are to download a free report, request a free sample of a product, or ask for free information to be mailed to them. Each time someone takes that particular action, you earn a commission.

Online and offline companies use CPA offers to build quality leads for their business. This is why they are willing to pay you for the leads you generate. The company anticipates converting the leads you send them into long-term paying customers.

In a way, a cost per action program is similar to an affiliate program. You are paid a commission for your referral. However, there is one big difference between affiliate programs and cost per action programs.

With an affiliate program, you earn a commission when the prospect decides to spend money and purchase the product. With a CPA offer, you earn not from making a sale, but from convincing the prospect to take an action that doesn’t require a purchase. They only need to fill in a form with their information. If there is a purchase involved, it’s usually at a very low cost, such shipping and handling for a free product.

For this reason, it can be easier to make conversions and earn your commission. While people put a lot of thought into their purchase decisions, they are usually more willing to give out some of their information in exchange for something else.

To get started making money with a cost per action programs, you first need to register for one of the CPA networks. When you’re accepted, you choose the products you would like to market. If you already have a website or a mailing list, you can choose products that would be appealing to the visitors you already have. If you’re just starting out, choose products you would enjoy recommending.

Once you’ve chosen your products, you will need to direct prospects to your CPA offer. If you already have a website or blog, you can put buttons or links for your offer. If you don’t have a website yet, this is a good reason to start one. You can also advertise it to your opt-in mailing list.

For an experienced internet marketer, joining a CPA network can be a way to add another stream of income to your business. Those just starting out in internet marketing can be successful too, since you don’t need a lot of traffic to earn from a CPA network.

You Also Might Like

What to Ask when Considering a Direct Sales Opportunity

Elliott Kosmicki — Fri, 25 Jun 2010 17:34:13 +0000

Are you looking for a direct sales opportunity and don’t know where to start? Not all direct sales companies and opportunities are created equally. Here is a list of questions to ask when considering a direct sales opportunity.

#1 How long has the company been in business? Believe it or not, some direct sales companies have been in business since the late 1800s and early 1900s. That’s a long history and a good sign of financial stability. With a company that’s been in business that long, you have more security. You don’t need to worry as much about buying a stock of supplies and then getting stuck with them when the company goes out of business.

#2 How fast is the company growing? While fast growth may seem exciting and positive, sometimes slow and steady growth is a better sign of sustainability. You don’t want to join a company that burns hot and fast and then goes out.

#3 How do they support their consultants? Some direct sales companies offer tremendous training and support, while others pretty much let you fend for yourself.

#4 How much do you have to invest to get started? This varies from company to company. Some also offer various start-up options.

#5 How much commission can you earn?

To talk to Elliott about SendOutCards, click here.

#6 Are you compensated for recruiting new consultants? This can be a very lucrative business model because you earn commissions on the sales your recruits make. Not all direct sales opportunities offer this option.

#7 How many products do they offer and how frequently do they introduce new products? Sometimes it’s easier to find a product a person wants to buy if they’re offered a wide variety. And it’s definitely easier to promote new products than old ones.

#8 What marketing materials do they provide you with, and what restrictions do they have on marketing? Some direct sales companies provide full-scale websites with online ordering systems. Some don’t. Some support you to market your business online and off; others don’t.

Before you sign on the dotted line or invest your money in a direct sales opportunity, take the time to research the company completely. If you can, speak with other direct sales representatives and go to a direct sales party. Make sure it’s the right opportunity for you.

You Also Might Like

Could YOU Make Six Figures with a Direct Sales Opportunity?

Elliott Kosmicki — Tue, 22 Jun 2010 14:10:13 +0000

Yes, you can.

There are many stories about people making substantial income online. In fact, if you’re a direct sales consultant you probably have met a few people who bring home high five and six figures each year. While the average income for a direct sales professional is under $3000, there’s a reason for this and it isn’t that the potential for profits is low.

Deb Bixler tells a story on her website about two pivotal people in her career. The first is a man she met at a direct sales party. This man had a very similar background to hers. He left the professional world to go into business for himself. He was able to grow his business to six figures. The other person was Myron Golden, who after some serious struggles in direct sales became a millionaire.

In fact, the recent economy has helped generate the newest wave of direct sales success stories. People without jobs are turning to direct sales as their primary and often sole source of income. This has created a new wave of direct sales success. And in part this mindset shift is the key.

Why making six figures is uncommon

There are many reasons the average salary in direct sales is so low. The primary reason is because people don’t look at direct sales as a potential business opportunity. They see it as a way to make a ‘few extra bucks’. However, if you approach it as your career, as an opportunity to make as much money as you want and as your own business, the sky is the limit.

What it takes to make six figures

The first thing to do is take a look at your commission rate and how many products you need to sell to make $1000. For many direct sales companies, one party generates $500 to $1000 in commission. From there, the math is easy. If your goal is to make $100,000 then that’s ten parties a month.

Let’s say for the sake of argument that ten parties a month is what you’re able to accomplish and at each party you make approximately $500 in commission. That puts you at just over half your goal.

What about your website? Can you generate online sales? Can you host online parties? If you can host online parties then reaching the ten parties a month goal is much easier, right?

The point isn’t to say that you have to host ten parties each month to make six figures. The point is to say that in order to achieve direct sales success and to become one of those success stories you hear about, you have to approach your business as a business. You have to set goals. You have to create a plan to achieve those goals. And you have to repeat your successes.

Does it take work to achieve six figures? Absolutely. Is it possible? Yes, with the right mindset it’s more than possible.

You Also Might Like

How To Find The Best Direct Sales Opportunity

Elliott Kosmicki — Mon, 21 Jun 2010 20:39:17 +0000

A direct sales consultant makes money by selling a company’s products and earning a commission. Traditionally the products are sold at home parties. However, online parties and web sales have become popular ways to generate profits – such as those a SendOutCards.

It’s an ideal business opportunity if you want to be your own boss without a huge financial risk. Generally, direct sales companies are devoted to helping new sales representatives get started and provide a number of resources to help you succeed.

Because the direct sales business model is so successful, there are a large variety of companies to choose from. There are the easily recognizable ones like Discovery Toys, Silpada Jewelry and Pampered Chef. However, there are also many wonderful smaller direct sales companies that sell primarily online such as SendOutCards. The key is to find a company and a product that you feel excited to sell and that will help you meet your personal and business goals.

Here’s how to find the best direct sales opportunity.

Step #1 What are your interests? What do you like to do? What products do you enjoy shopping for? What are your hobbies? Make a list of your passions and interests. Don’t worry too much at this point if there is a direct sales opportunity that matches your interests. That’s the next step.

Step #2 Visit a directory of direct sales opportunities. You can find them online or you can visit the direct sales association, dsa.org. Take a look at the various companies and jot down any that match your interests or sound exciting.

Step #3 Visit the website of each direct sales company you’re interested in. Take a look at and compare:

* How the company is growing
* How they support their consultants
* What marketing materials they provide – do they provide a website?
* How much their start up package costs
* How they pay
* If you’re compensated for recruiting new consultants – a tiered compensation system
* How many products they offer and how frequently they introduce new products
* If they’re growing
* How long they’ve been in business

Step #4 Narrow down your list to your top two or three opportunities. If possible, attend direct sales parties for these companies. This is a great way for you to see a direct sales party and sales representative in action. And it’ll give you the opportunity to talk to direct sales consultants to see if it’s the right opportunity for you. Consider hosting a party as well so you can get a feel for how the company operates.

Step #5 Signup and start selling. Start selling! Congratulations! You’re on your way to owning a business you can be proud of. One that meets your needs and helps you live the life you want to live.

Many people are able to build successful direct sales businesses. They make a good living and enjoy the autonomy of being their own boss and selling products they enjoy and are proud of. To your success!

You Also Might Like

Is Direct Sales Right for You?

Elliott Kosmicki — Mon, 21 Jun 2010 14:25:03 +0000

Direct sales can be the perfect business model for many people. It offers a unique business opportunity with little risk. However, if direct sales isn’t for you, then it can be a waste of your time and money.

Here’s how to determine if direct sales is right for you.

#1 Do you enjoy selling? Generally direct sales involves home party selling, which can be a lot of fun. You have the opportunity to meet new people, get together with old and new friends and sell a product you believe in. However, some direct sales companies also sell face to face, for example Avon.

Face to face selling may be just fine too; however, knocking on doors and cold calling isn’t for everyone. Before you jump into a direct sales opportunity, make sure the selling style meets your personality.

#2 Are you money motivated? Direct sales customers aren’t going to come to you, at least not at first. In order to make sales and achieve your financial and business goals, you need to be motivated. Generally, to make a direct sales opportunity a success it helps to be financially motivated.

#3 Do you like recruiting people? One of the best ways to grow your income as a direct sales consultant is to recruit other direct sales consultants. It’s a tiered system and while not all direct sales businesses are set up this way, it can be a very lucrative endeavor. You make a commission on the sales your recruits make.

#4 Do you enjoy marketing your business? Beyond selling face to face and recruiting, to grow your business you will want to market it. This can include fliers and brochures, a website and advertising. Most of the time direct sales companies will provide some marketing materials and support. However, if you want to really set your sights high, then you’ll want to market your business yourself too.

#5 Do you have good business and organizational skills? Direct sales consultants often need to maintain inventories, track sales, organize parties, take orders, and market their business online and off. It takes a lot of planning, discipline and a good organization system.

#6 Do you have a positive mindset? There will be setbacks and people won’t always buy something. In order to succeed in direct sales you need to be both enthusiastic about selling and have a positive mindset. It’ll help you sell and it’ll help you get through the rough patches.

#7 Finally, do you have good communication skills? In order to be successful in direct sales you’ll need to be a good communicator. Not only will you be selling a product and need to understand your customers’ needs, you’ll also need to be able to take orders and listen well.

Direct sales isn’t for everyone. However, if you find yourself nodding and agreeing with these seven skills for direct sales success, then perhaps you’ve found your calling.

You Also Might Like

Make Money by Blogging: Your Way Out

Elliott Kosmicki — Mon, 03 May 2010 15:28:34 +0000

It’s like this fantasy world you live in – you’ve quit your job and are making money full time by blogging. You’re making so much money, in fact, that you’ve bought a new house – helped your mom out of debt – and have employed your siblings just to keep up with everything you’re now responsible for.

What if this didn’t have to be a fantasy?

We all know of people who have made a killing by blogging. The money, however, didn’t come easy. Most blogging millionaires spent their time – day and night – posting about one particular topic and doing it very well for a long, long time.

And then, there are people like Rob Benwell.

Rob is the author of "Blogging to the Bank" and is making up to $101,919 per month from blogging. That’s serious money. He’s also helped over 50,000 people make money by blogging – and now he’s released a new and improved version of his blogging blueprint.

Some of the interesting information he divulges in his latest release include:

- How on little blog can make over $3,947 per month.

- The 5 biggest secrets that guarantee success for any blog you create.

- The most successful step-by-step blueprint for long term blogging success.

- The secrets to building a blog empire that earns over $360,000 every year.

- The one technique no one else will tell you about how to make money by building a multi-million dollar blogging empire.

This is some serious stuff – and it’s only the beginning. Take a look at the full product information to find out more.

Rob has generated over 2.1 million visitors to just one of his blogs, and over the last few years he’s brought in over $1 million dollars in profit from his small blogging network.

If you’re looking for a way out of your tired old 9-5 and want to make money by blogging, I can’t think of a better place to start than Blogging to the Bank.

Photo by sgw / CC BY-NC 2.0

You Also Might Like

5 Ways To Use Your Small Business Tax Refund

Elliott Kosmicki — Wed, 21 Apr 2010 19:09:28 +0000

Getting your tax return is one of the happiest feelings that tax payers know. Unless – like me – it seems you’re never at the receiving end of the tax situation. But, that money may be burning a hole in your pocket which makes it ripe for impulse spending.

Many times, people get their tax return back and are not really sure what to do with it. This usually leads to poor decision-making and a loss of precious funds. Here are some useful ideas for how to use your tax refund this year.

1. Pay debts – individuals use their tax refunds to pay off old debts, so why not do the same for small businesses? Pay off that dangling bill for the electrical work you had done, or finish purchasing the forklift you started paying on last October. Paying off smaller debts is a great way to use your tax return because it increases your net worth; less debt means more overall value.

2. Invest – Stocks and bonds are a great way to think of investing, but you own a business now. What kinds of investing can you do that will pay you back in returns? How about servicing the company car that would improve gas mileage? Perhaps re-configuring the layout of an assembly line will produce more efficient movements in your workers. Perhaps upgrading equipment in your home office will produce more efficiency.

3. Pay workers – This goes right along with investing. Happy people make productivity go through the roof. Right now, everyone could use a little extra in his or her pockets. Why not show your employees you care about them and their families by helping them make ends meet. This will produce loyalty like none other and people will be more willing to stay productive if they know you are behind them in their personal life. Are bonuses in order?

4. Return to community – Donating to charity is always a worthy cause. Putting back in to the community is not only rewarding and great media publicity, but also counts towards your tax write offs for the next year. Using the funds to help build up the community also makes a better place to live and do business and usually, those you help are more than willing to help you out when it comes time.

5. Save – Putting money away for a rainy day is what usually saves most small businesses. With the rates that businesses go under even in a perfect economy, having a little savings in the bank is a great place to gain stability. Find a good bank that will give a decent rate and put your money in for the long haul, or until you are ready to invest it in your business.

There are plenty of things to do with your tax return, but there are only a few things that make good business sense. Before you start spending your tax return, talk to your CPA about what would make the most sense for your business, now and in the long run. You will know what you are supposed to do when it all feels right and makes the most sense financially.

Photo by zack-attack / CC BY 2.0

You Also Might Like

A Guide to Building Wealth to Grow Your Business