No matter what industry a business is in, no matter what product or service a business sells, no matter what size a business is, These 14 keys are a main contributor to the continual growth and success of a business. Actually this is the reason why I call them ‘The 14 keys of effective marketing’ because they open up your business to that all important pathway to constant success.

1ST KEY is COMMITMENT: if you or I were to go down to the gym to either look at loosing a few pounds, or to build muscle mass to tone ourselves up, I doubt that we would get on the tread mill or the rowing machine just once and then say ‘that’s enough no need to do anymore of that’ nor would we lift up a dumbbell and do one bicep curl, never to repeat it. We understand that doing the exercise only once is not going to have any effect or change to our health and fitness at all.

However despite this obvious realisation there have been numerous occasions when business owners have commented to me that the last marketing campaign they ran, didn’t work. I can guarantee that when I am told that, the answer to my follow up question, “how many times did you do the campaign?” is inevitable, once!

Even if your campaign is not brilliant, you will get a far greater response, along with a more profitable outcome if you commit to it than if you had a brilliant campaign and did it just once.

2ND KEY is INVESTMENT:  I am not just talking about money here. To have an effective marketing strategy you need to ensure you also invest the time and energy it rightly deserves to ensure you achieve the levels of success you want. This links into key number one. If you are committed to running a campaign, you will have to be prepared to ensure you invest the time to do it. The campaign will not be effective, the keys will not open you up to the pathway of business growth if you only do your marketing now and again or when you can fit it in. which brings us nicely on to the third key.

 3RD KEY is CONSISTENCY:It has been said that it takes between seven and nine times for a marketing message to be seen before a person reacts to it. In fact trust is a major reason why people decide to part with their money and buy a product or service. People are not going to believe in you as a manufacturer of a product or provider of a service, or even trust that you can deliver quality or even still be around 6 years or even 6 months from now if your message is only around once or twice. The more your message is seen or heard the more you will build trust and faith in your ability to be a quality company to do business with.

 Also a mistake that is commonly made by companies is to change the message. If you live in the UK, do you believe Fairy washing up liquid effectively cleans your dishes? I am sure you do. Did you know that this message had not been changed for over 50 years? The message had stayed the same, with the child waiting for the container to be empty so they can use it for some game or toy they are making. ‘hands that do dishes…’ It is only till recently that Proctor & Gamble the makers of Fairy liquid changed it by bringing in Ainsley Harriot. And that is mainly due to the fact that we have changed the way we predominantly wash up, no longer standing at the sink but rather choosing to load our dishwashers.

 Nescafe Gold Blend got the nation hooked with its consistent advertising campaign in the 1980’s with the attractive couple who lived next door to each other borrowing coffee and sharing a cup or two around awkward, funny and romantic situations.

 Be consistent. Once you know what works, leave it alone.

 4TH KEY is CONFIDENCE:In a survey done in the USA to determine why people buy, one reason was because they felt confident in the business they were buying from. I touched on this point in the 2nd key.

 It doesn’t matter where you live, the US, the UK, Europe, Australia, the result will be the same. In fact when I am asked to critique a business, be it their marketing, sales skills, presentations or customer service, the first thing I look at is are they promoting confidence to their customers? If a potential customer is not confident in you as a provider, in your product or service, then no matter how much money you send on your marketing, how slick your sales team are, what state of the art equipment you use to present your business to the world, you will find that without confidence in you, customers are not going to buy.

 5TH KEY is PATIENCE:  Too often I see businesses quit and give up marketing campaigns because they are not seeing the results they want, immediately. You have to ensure that you have patience when it comes to marketing otherwise it will be extremely difficult to carry out the first four keys to effective marketing.

 6TH KEY is VARIETY:Marketing is not just advertising in a newspaper or on the TV. It is not just direct mailing or posters in the local high street. Marketing is everything we do and it is important to also understand and accept the fact that individual marketing tools rarely work on their own. However, you will soon discover that combining different marketing tools does work, very effectively. The wider your assortment the greater your success.

 7TH KEY is CONVENIENCE:How easy is it to do business with you? The reason I ask this is because in today’s society time is precious and people are now reluctant to waste it. So you need to ensure that you are running your business for your customers’ convenience rather than yours. I regularly see frustrated people coming out of banks between 12 and 2pm each week day. The reason why they are frustrated is because they want to get their banking done during the only spare time they have during a busy day – lunch time. The problem is this is the optimum time for everyone else, but what makes this experience frustrating is that most banks also allow their cashiers to go to lunch during this time too, so the number of desks open is actually reduced thereby increasing the waiting time to be served.  Not very convenient is it – maybe this is one of the reason why banks are so disliked?

 8TH KEY is ENSUING: When are real profits made? Is it when a sale is made? If you think that the answer is yes, then please don’t. One sale will only produce a small profit, maybe only actually covering costs especially if you are working to a tight margin. The actual time you make real, productive and rewarding profits is when you have ensuing activity and you get your customer to buy again, or provide you with referral business. It is actually after the point of the first sale that the real marketing begins. Subsequent sales and business from customers produces the real bench mark for business growth and success, that of real profit.

 9th KEY is SURPRISE: There will be times in your business when you take it and what it offers, for granted. It’s natural to do so because you are working in it everyday, around the same products or services. However customers are not as absorbed in your business as you are and we all know people like surprises. Make sure your marketing keeps your customers surprised and as a result, excited.

 10TH KEY is MEASUREMENT:If I asked you to tell me how successful your last marketing campaign was would you be able to tell me? If you measure the results you get from your marketing you can effectively double your profits. You do this through making the necessary adjustments needed to your copy or stopping a campaign that is not working. Some of the different ways to market your business that you will learn in another podcast will get you these results.  Dependent on your product or service, they may actually fail. You are not going to know which one is working and where if you are not measuring them.

 I had a client you for 3 consecutive years ran the same £600 a year advertising campaign in a business directory and never received any enquiries. If he had measured the result after just the first year he could have saved himself £1200

 11TH KEY is INVOLVEMENT:This actually works two ways because involvement refers to your relationship between you and your customers. The first way is the relationship you have with your customers; do you follow up on leads? Do you speak to them in the correct manner? Do you provide quality service? And as a result the second part comes into effect, your customers’ relationship with you. Do they continue to do business with you? Do they refer others to your business?

 Business is all about having a relationship with your customers. The better the relationship you have with them the higher the chance that they will stay loyal to you and continue to frequent your business.  So get involved.

 12TH KEY is CO-OPERATION: Most business owners are used to competing with companies who provide similar services or products to them. This is an antiquated view as co-operating with businesses that offer similar commodities to you will increase your presence in the market place, along with your profits, when done right at a reduced outlay both in time and money. Additionally there will be businesses local to you that provide products or services that compliment yours. Co-operating with these businesses in your marketing opens doors to a new customer base you never taped into before and thereby enabling you to increase your profits. We will look at this concept in more detail in the podcast on fusion marketing.

 13TH KEY is EQUIPMENT:In today’s society it is no good being reluctant to use the many assortments and styles of equipment available to market and promote your business, such as computers, emails, specific software packages, the internet, mobile phones, fax machines, palm top pc’s and the like. All these and more will help you keep promoting your business and striving forward to increase your profits.

 14TH and final KEY is CONSENT:  You could waste your time and money sending out marketing materials to everyone and anyone; putting it simply, people who don’t really want it. Or the most effective way as the marketing guru Seth Godin describes it is through permission marketing. Get the permission of your potential clients to send marketing materials out to them. Get them to opt in to receiving material from you, rather than opt out or throw it away. By doing so you are really targeting your efforts on those who want to hear from you, and more importantly more likely to buy from you.

 So we have covered 14 keys to highly effective small business marketing. I urge you to critique the marketing campaigns run by your business. Look and see how many of these 14 keys you are not doing then begin to add them in to the way you run your small business marketing. You will be glad you did.

You have probably been looking for a internet marketing business plan, which is complex and confusing and had no luck. I will give an overview of what to do every day to succeed with your internet marketing business plan. There is a four-step process that follows the success of each distributor. You must have a product and other products for use as a means to achieve additional sales. Most people who come online looking to start marketing online with affiliate marketing to promote any other product. It is preferable to start creating your own product, because it gives the opportunity to follow the internet marketing business plan.

The internet marketing business plan is the first to generate traffic. There are three main ways to generate traffic. The first method primarily through affiliates promoting your product.  Members can bring floods of traffic to your site. The second main way to generate traffic through pay per click advertising. Paying for keywords on search engines like Google or Yahoo. The director of the third generation of traffic is through search engine optimization. That means you have to do a keyword research and keyword in making web pages and links back to web pages. The second stage of the internet marketing business plan is to channel visitors to your homepage email capture.

Do you want to capture the email as much as possible to your target audience and build relationships with them is to earn their trust. The third phase of the internet marketing business plan to be channeled to a page describing the product label. When a person buys a product in your initial step for the other products are designed to offer more value and make additional sales.

Questions to Ask before Investing Online or Elsewhere

We are faced with so many investment choices today, it Is sometimes difficult to decide which investment will best serve our purpose; as well as which investments are the safest, while giving us the best bang for our buck. While not specifically indicating particular investments, I want to
give you the appropriate guidelines in determining which investment is best suited for you.

Are you happy with the current 1% – 2% a year that most financial institutions are offering? Or does a higher rate of return appeal to you? There are investment opportunities that do offer a higher rate of return with limited risk. However, there are certain guidelines you must follow to determine which of these investments are best suited for your pocketbook and your personality.

As technology has advanced today, so have new investment opportunities, with higher returns; some, obviously safer than others. While the Forex market is now available to the average investor, it is truly a high risk arena and not appropriate for most. Other avenues of investing, which have not previously been available to the average investor, offer a handsome return, with a low risk. How do you find these investments? By doing your due diligence and following these guidelines I’ve outlined below.

10 Frequently asked questions:

1. How much money do I need to start investing online or elsewhere?
2. What are the costs or fees associated with the particular investment?
3. Once I’ve earned money, how fast can my funds be withdrawn?
4. What regulations are involved with the particular investment?
5. How do I assess the risks of a particular investment?
6. What are some of the highest return investments that the average investor can participate in?
7. Do I need to “qualify†to participate in the particular investment?
8. What are the minimums needed to fund the investment account?
9. Is there a guaranteed return on investment funds?
10. Over what period of time are funds held in order to produce a return?

How much money do I need to start investing online or elsewhere?

With the advent of online investing, it has become very easy to open various accounts with as little as a few hundred dollars. For instance, online investing has made it easier to invest in the stock market, including equity and derivatives, along with areas that up until a few years ago, could not be accessed or utilized by the average investor — Forex (Foreign Exchange) trading for one. Now, if there’s a market out there, it is possible that market can be traded online. So, the prudent advice would be to start with what you are comfortable in investing.

What are the costs or fees associated with the particular investment?

Many investments do charge fees or subscriptions as part of their service. The question to ask yourself would be, “Is this fee or charge too detrimental to the potential profit?†In other words, am I investing enough to offset the fees or charges that are going to erode my earnings? You will need to look at your potential profit and subtract the account charges from your profit to determine your actual percentage of profit.

Once I’ve earned money, how fast can my funds be withdrawn?

This question falls under the term “liquidityâ€. With some investments, like equity stock, it is possible to buy the stock one-day and sell the next or even within hours or minutes of the purchase. This is typically referred to as “Day Tradingâ€. Keep in mind that there is also a settlement period of 3-5 days before the funds are realized. Other investments may want you to commit your funds for a period of time before the principal and profit can be extracted. If it is possible to extract funds earlier, you may be charged a penalty for doing so. For instance, if you buy a CD (Certificate of Deposit), the bank usually wants you to keep that for a specified period of time and you are rewarded with the appropriate interest depending on the length of term that you have committed to — typically, the longer the term, the greater the reward, but remember, you have diminished your liquidity. Shorter-term commitments increase your liquidity and this is something to keep in mind, particularly if you might find yourself in need of these funds at some point in the future.

What regulations are involved with the particular investment?

When talking about regulations, we must first decide in what arena the particular investment falls — public or private. For our discussion in this book, we have limited our focus to areas outside of the real estate market and have primarily been referring to investments of money into equities, bonds, CD’s, commodities and the like.

On the public side of things, the largest regulatory agency is the SEC (Securities and Exchange Commission). With the Security Exchange Act of 1934, Congress created the SEC and empowered the SEC with authority over all aspects of the securities industry including oversight of brokerage firms, transfer agents, clearing agencies as well as the self-regulatory organizations (SROs). SROs are such entities as the New York Stock Exchange, the American Stock Exchange and the National Association of Securities Dealers (NASDAQ). The SEC has the power to administer disciplinary action and will prohibit certain types of conduct.

On the private side of investment are those investments not required by law to register with the SEC, which can include private companies, trusts, corporations or LLC’s, but who may wish to post their financial and significant information regarding their business as a show of “good faith†to their investors. This gives the company legitimacy, more transparency and validity for any investor they may wish to attract. In private transactions, as much information as can be gleaned before investing, including knowing the principals, the track record and seeking out satisfied investors, would be a prudent move. The more disclosure, the better it will be for your peace of mind.

How do I assess the risks of a particular investment?

As we discussed in the previous question, doing your due diligence is always advisable and educating yourself on the particular industry and investment vehicle, may turn up other areas of concern. Move forward only when you feel comfortable and confident with who and what you are dealing with. Seek out other advice from professionals as well as talking with other investors — particularly those who have specific experience with the type of investment you are considering, but remember, don’t let “one bad apple spoil the whole bunch†when it comes to soliciting investor advice. Get a broad range of facts and opinions in order to formulate the most prudent and judicial analysis.

What are some of the highest return investments that the average investor can participate in?

In trying to answer this question, one must look at the relationship between risk and reward. Typically, the higher the risk, the greater the reward and vice versa. It is not uncommon for an individual equity stock to post tremendous gains on an annualized basis — many times over 100%! One small cap stock that I am familiar with grew 1600% over the past decade. Sounds too good to be true, doesn’t it, but it’s not. Please keep in mind that this particular stock is an exception, not the norm. In fact, most stockholders recently have been happy to see a profit at the end of the year and are happy just to avoid a loss.

With that said, there are plenty of other offerings that provide huge upside potential with limited risk. One of these is in the physical commodities buy/sell contract arena. This particular area of commodities has been highly mischaracterized because most people and investors tend to lump these types of investments in with futures or exchange traded funds, and nothing could be further from the truth. Physical commodities buy/sell contracts are pre-arranged cash contracts that typically range anywhere from 2 weeks to a month or two in length, thus offering greater liquidity and at the same time, offering lucrative returns with limited risk. This is a relatively new arena for the average investor because it has been the arena of the very wealthy, although, now there are companies emerging that offer the average investor participation at smaller amounts than what previously required.

Do I need to “qualify†to participate in the particular investment?

Depending on the type of investment vehicle and the amount of money required to invest along with the level of risk, will dictate whether or not a person needs to be considered as an “accredited†investor. In terms of individual investors, this type of classification refers to the individual or couple’s gross annual revenue or net worth. Typically, net worth is considered “accredited†at or above ,000,000 or an individual who has an income in excess of 0,000 in each of the 2 previous years or a joint income with that person’s spouse in excess of 0,000 per year. Outside of that, the basic rule is whether or not an individual has sufficient liquidity to invest without harm and has the appetite for the given risk.

What are the minimums needed to fund the investment account?

This will vary from investment to investment. You may have a mutual fund that requires a minimum investment of 00, whereas you may be able to participate in an equity stock with as little as a few hundred dollars — it all depends.

Is there a guaranteed return on investment funds?

Outside of a CD, loan or bond, there is no guarantee of return. Anyone telling you that the return is guaranteed is, more than likely, misrepresenting the risk associated with the typical investment. With most investments, you should hear that “past performance is no guarantee of future resultsâ€.

Over what period of time are funds held in order to produce a return?

I covered this somewhat in a previous question, but the answer to this depends on the particular investment vehicle. For instance, a CD may hold funds for months or years depending on the rate of return being offered. With equity stocks, you can buy one minute and sell the next. Every investment stands on its own rules and how the vehicle works in producing a return for the investor. Certain investments with a specified time period and a projected rate of return help to minimize risk — especially long term risk, and improve liquidity. Depending on your investment objectives, a diversification of an investment portfolio is also very much advised by most in the investment arena in an effort to hedge against one area or another producing a devastating loss. It is also a good idea to rank your priorities in terms of liquidity, risk and reward. What’s most important to you will ultimately dictate the type of investment you may wish to seek.

For additonal information go to How much money do I need to start investing online or elsewhere?

With the advent of online investing, it has become very easy to open various accounts with as little as a few hundred dollars. For instance, online investing has made it easier to invest in the stock market, including equity and derivatives, along with areas that up until a few years ago, could not be accessed or utilized by the average investor — Forex (Foreign Exchange) trading for one. Now, if there’s a market out there, it is possible that market can be traded online. So, the prudent advice would be to start with what you are comfortable in investing.

What are the costs or fees associated with the particular investment?

Many investments do charge fees or subscriptions as part of their service. The question to ask yourself would be, “Is this fee or charge too detrimental to the potential profit?†In other words, am I investing enough to offset the fees or charges that are going to erode my earnings? You will need to look at your potential profit and subtract the account charges from your profit to determine your actual percentage of profit.

Once I’ve earned money, how fast can my funds be withdrawn?

This question falls under the term “liquidityâ€. With some investments, like equity stock, it is possible to buy the stock one-day and sell the next or even within hours or minutes of the purchase. This is typically referred to as “Day Tradingâ€. Keep in mind that there is also a settlement period of 3-5 days before the funds are realized. Other investments may want you to commit your funds for a period of time before the principal and profit can be extracted. If it is possible to extract funds earlier, you may be charged a penalty for doing so. For instance, if you buy a CD (Certificate of Deposit), the bank usually wants you to keep that for a specified period of time and you are rewarded with the appropriate interest depending on the length of term that you have committed to — typically, the longer the term, the greater the reward, but remember, you have diminished your liquidity. Shorter-term commitments increase your liquidity and this is something to keep in mind, particularly if you might find yourself in need of these funds at some point in the future.

What regulations are involved with the particular investment?

When talking about regulations, we must first decide in what arena the particular investment falls — public or private. For our discussion in this book, we have limited our focus to areas outside of the real estate market and have primarily been referring to investments of money into equities, bonds, CD’s, commodities and the like.

On the public side of things, the largest regulatory agency is the SEC (Securities and Exchange Commission). With the Security Exchange Act of 1934, Congress created the SEC and empowered the SEC with authority over all aspects of the securities industry including oversight of brokerage firms, transfer agents, clearing agencies as well as the self-regulatory organizations (SROs). SROs are such entities as the New York Stock Exchange, the American Stock Exchange and the National Association of Securities Dealers (NASDAQ). The SEC has the power to administer disciplinary action and will prohibit certain types of conduct.

On the private side of investment are those investments not required by law to register with the SEC, which can include private companies, trusts, corporations or LLC’s, but who may wish to post their financial and significant information regarding their business as a show of “good faith†to their investors. This gives the company legitimacy, more transparency and validity for any investor they may wish to attract. In private transactions, as much information as can be gleaned before investing, including knowing the principals, the track record and seeking out satisfied investors, would be a prudent move. The more disclosure, the better it will be for your peace of mind.

How do I assess the risks of a particular investment?

As we discussed in the previous question, doing your due diligence is always advisable and educating yourself on the particular industry and investment vehicle, may turn up other areas of concern. Move forward only when you feel comfortable and confident with who and what you are dealing with. Seek out other advice from professionals as well as talking with other investors — particularly those who have specific experience with the type of investment you are considering, but remember, don’t let “one bad apple spoil the whole bunch†when it comes to soliciting investor advice. Get a broad range of facts and opinions in order to formulate the most prudent and judicial analysis.

What are some of the highest return investments that the average investor can participate in?

In trying to answer this question, one must look at the relationship between risk and reward. Typically, the higher the risk, the greater the reward and vice versa. It is not uncommon for an individual equity stock to post tremendous gains on an annualized basis — many times over 100%! One small cap stock that I am familiar with grew 1600% over the past decade. Sounds too good to be true, doesn’t it, but it’s not. Please keep in mind that this particular stock is an exception, not the norm. In fact, most stockholders recently have been happy to see a profit at the end of the year and are happy just to avoid a loss.

With that said, there are plenty of other offerings that provide huge upside potential with limited risk. One of these is in the physical commodities buy/sell contract arena. This particular area of commodities has been highly mischaracterized because most people and investors tend to lump these types of investments in with futures or exchange traded funds, and nothing could be further from the truth. Physical commodities buy/sell contracts are pre-arranged cash contracts that typically range anywhere from 2 weeks to a month or two in length, thus offering greater liquidity and at the same time, offering lucrative returns with limited risk. This is a relatively new arena for the average investor because it has been the arena of the very wealthy, although, now there are companies emerging that offer the average investor participation at smaller amounts than what previously required.

Do I need to “qualify†to participate in the particular investment?

Depending on the type of investment vehicle and the amount of money required to invest along with the level of risk, will dictate whether or not a person needs to be considered as an “accredited†investor. In terms of individual investors, this type of classification refers to the individual or couple’s gross annual revenue or net worth. Typically, net worth is considered “accredited†at or above ,000,000 or an individual who has an income in excess of 0,000 in each of the 2 previous years or a joint income with that person’s spouse in excess of 0,000 per year. Outside of that, the basic rule is whether or not an individual has sufficient liquidity to invest without harm and has the appetite for the given risk.

What are the minimums needed to fund the investment account?

This will vary from investment to investment. You may have a mutual fund that requires a minimum investment of 00, whereas you may be able to participate in an equity stock with as little as a few hundred dollars — it all depends.

Is there a guaranteed return on investment funds?

Outside of a CD, loan or bond, there is no guarantee of return. Anyone telling you that the return is guaranteed is, more than likely, misrepresenting the risk associated with the typical investment. With most investments, you should hear that “past performance is no guarantee of future resultsâ€.

Over what period of time are funds held in order to produce a return?

I covered this somewhat in a previous question, but the answer to this depends on the particular investment vehicle. For instance, a CD may hold funds for months or years depending on the rate of return being offered. With equity stocks, you can buy one minute and sell the next. Every investment stands on its own rules and how the vehicle works in producing a return for the investor. Certain investments with a specified time period and a projected rate of return help to minimize risk — especially long term risk, and improve liquidity. Depending on your investment objectives, a diversification of an investment portfolio is also very much advised by most in the investment arena in an effort to hedge against one area or another producing a devastating loss. It is also a good idea to rank your priorities in terms of liquidity, risk and reward. What’s most important to you will ultimately dictate the type of investment you may wish to seek.

For additional information go to: http://www.siteproweb.com/20-questions-lead-page

Business Opportunity Reviews can help consumers become successful moguls in the world of business

Business Opportunity Reviews are helping consumers decide which business endeavors can yield the most profits. Long gone are the days of intense speculation, with uncertainty being the rule of the day. Thanks to Business Opportunity Reviews, consumers do not have to run the risk of investing in a less that stellar opportunity. Consumers can instead focus their time, energy, and money on nurturing and developing their respective business opportunities, instead of fretting over whether or not they have made a good choice. That is the beauty of consulting Business Opportunity Reviews before investing in a particular business opportunity.

Consumers can get what they need, which is information, about a particular business opportunity if they read a number of Business Opportunity Reviews, and they do not need to actually go through with the business opportunity. This is incredibly advantageous to the consumer because if a particular business opportunity is shady, or is offered by less than reputable individuals, then the Business Opportunity Review can steer savvy consumers away from them. Therefore, Business Opportunity Reviews can help you avoid a bad investment.

Business Opportunity Reviews can help savvy investors of all stripes to make lots of money

Consumers need every advantage possible to succeed in the current economy, and reading Business Opportunity Reviews can help them achieve their goals of economic stability through informed decision making. Sound financial advice is absolutely essential in a recession, as money is scarce, budgets are tight, and jobs are almost nonexistent. It is of the utmost importance for consumers to invest wisely, in order to expect a decent return on their investment. There is opportunity of economic advancement in dire economic times, much like the present, but if a consumer shrewdly examines a multitude of business opportunities, then he or she will be more than able to thrive, even in the midst of an economic downturn.

Business Opportunity Reviews enable consumers to get a first hand account of what it is like engaging in a particular business opportunity. There really is no substitute to actually being there, and trying out a business opportunity, but Business Opportunity Reviews are the next best thing. They allow consumers to have the benefit of experience without having to waste precious time, energy, and money on a business opportunity that is destined to fail. These smart consumers can instead put their efforts into more profit friendly business opportunities.

Consumers who want to find lucrative investment opportunities should consult Business Opportunity Reviews

Business Opportunity Reviews can help consumers find these lucrative types of business opportunities. If a particular business opportunity has proven itself to be quite profitable, then there will more than likely be a number of testimonials that sing the praises of that particular business opportunity. The only way to know if any given business opportunity is worth trying out is to get a first hand account of what is like to be on the ground floor, so to speak. Business Opportunity Reviews are invaluable resources for any discerning consumer. They can help consumers get a leg up in this difficult economy, and that is no small feat. Business Opportunity Reviews are a savvy consumer

FINANCIAL BREAKTHROUGH IN SPITE OF ECONOMIC MELTDOWN

Economic meltdown is a current economic and financial issue and reality in the world today. It is not a new concept. The only thing new about it is the name ‘meltdown’ used to describe this old economic reality. Economic meltdown is used to describe economic or financial crisis, economic downturn, and economic depression/recession. It affects the whole world; and this is why it is referred to as the global economic meltdown.

Its implications and impacts on individuals, corporate bodies, and governments are serious and far reaching. For example, the current economic meltdown has caused a lot of problems such as:

Reduction in revenue inflow to the coffers of governments around the world. Massive reduction in consumer purchasing power due to inflation. Drastic fall in public (government) spending. Decrease in demand for companies’ manufactured goods and services. Reduced turnover and profitability of businesses. Job shrinking, that is downsizing, right-sizing of the work force, particularly in the private sector. Hundreds of thousands of jobs have been lost in many countries all over the world Reduction in salaries/wages of workers. Forcing early retirement on workers, when they least expect it. Poverty Rising cost of imported manufacturing inputs. Current dwindling fortune of the currencies.

Now, what do we mean by ‘financial breakthrough’? Financial breakthrough, simply defined is financial independence or financial freedom. In its simplest sense, financial breakthrough is a state of earning sufficient income to self-support. Self in this case also includes family – spouse, children, parents, etc. it is an economic situation of life in which an individual is able to meet his needs (family inclusive) and still has surplus to meet future financial and economic needs. According to Brian Tracy, 2006, it is “the point where you have enough money so that you never have to worry about money again.” Financial breakthrough is a situation devoid of financial stress or pressure, even after retirement from active service.

The relevant question now is this: Is financial breakthrough attainable during economic meltdown? This paper examines the possibility of this. The good news is that financial independence is easier to achieve during economic recession than any other time. Investment experts are of the opinion that the period of economic recession could be a source of blessing in disguise for those who are ready to tackle it.

Let us consider some of a few things we can do to get financial breakthrough in times of economic downturn or recession – that is to turn financial crises to prosperity, adversity to advantage, or economic depression to economic boom.

1.        STRATEGIC PLANNING APPROACH

This involves a critical look at or observation of the economic situation, understanding your own economic position and what you want to get or economic station you want to reach. This involves the appraisal of hindsight, insight and foresight. The combination of these three results into vision. Hindsight is the perception of the past events. It has to do with looking at yesterday to understand tomorrow. Great lessons are inherent in the past which can be used as stepping stone to launch to greater heights. Insight is the vision of the moment. It operates in the moment and is instantaneous. It is a transfer point between hindsight and foresight.

Foresight has to do with looking forward, foreseeing future potentials and pitfalls. Helen Keller was asked “what could be worse than being born blind?” She said, “To have sight without vision.”

To have financial breakthrough in times of recession, you must sit down, think, visualize, see and observe a lot of money-making opportunities all around you.

The great depression that started in 1929, which affected most parts of the world, it was observed, was the basis for the economic might that the United States developed in subsequent years; many US entrepreneurs took up the challenge and developed several businesses in the US, a situation that impacted the whole world. Japan could not rise to economic limelight until after the great devastation of the Second World War.

The present economic situation is a challenge to make every serious minded one to start planning for the future even at this time. It will be unfortunate for us like many others, to bemoan or complain the current economic problems. This is the time for people to get into proper planning for economic abundance or prosperity.

2.        DEVELOP AND CULTIVATE MULTIPLE SOURCES OF INCOME

If you are a wage/salary earner, you must see to it that you create other sources of income. This is because as seen in the introductory part, responsibilities are increasing while the means of meeting them are shrinking due to inflation and other attendant problems with economic meltdown.

It is not wise to depend solely on monthly salary no matter how much. Build at least three or more alternative sources of income. How do you that? Use your spare time or hours profitably for thinking and idea-generation. Then take relevant and necessary actions.

3.        SELF-EMPLOYMENT APPROACH

This involves a number of steps:

Setting up a business: Motivation, yes, personal motivation is an important step to setting up a business. Your motivation has to last before, during and after you start your business. Sources of business ideas: One way to identify a business opportunity is by observation. You must be able to observe the environment in which you live. Think through what you see, hear, smell, touch or feel and you will see before your eyes, business opportunities that could not be seen by an untrained eye. A good business idea could be an invention, a new product or service, or an original idea or solution. Write your business plan before launching… Then go out and launch.

Reference

Tracy B. (2006). The way to wealth (pg 33). Entrepreneur Press, 2006

When applying for a credit facility, you will most likely be required to have a well written business plan to showcase what you intend to do with the business loc. This may not be the case if you are using a home equity line of credit secured by your personal residence. If you are seeking to obtain a standard business line of credit then you will most certainly be required to have a business plan. BusinessLOC.com has a sample business plan outline that you can use to develop a plan that showcases how you intend to use the debt proceeds.

The key to a good business plan is to have a 25 to 45 page summary of your business, how you intend to use the capital sought, a description of the product/service you a selling, and a three year financial model that showcases you previous and anticipated profit and loss statements, cash flow analysis, balance sheet, and breakeven analysis. Again, these tools have been included for free by BusinessLOC.com.

If you are having significant trouble with writing your business plan then you may want to consider hiring a professional firm to assist you in this process. Often, business planning firms have extensive relationships with banks, finance companies, and private lenders that will be interested in your business project or established company. These firms may or may not take a success fee if they are able to secure a business loc for you. Prior to working with a business planning firm, you should check the credentials of the individual producing your business plan, make sure that they are registered with the Better Business Bureau, and that they have an established track record of obtaining credit facilities through their produced business plans.