Aug
17
Business Operating Cost
Filed Under Ten New Global Trends 2010 | Leave a Comment
Mike Ashley asked:
Operating expenses are those costs every business has that are not considered directly related to a company’s first line of business. Operating costs include sales and marketing, research and development (R&D), administrative costs and other costs which does not involve directly in the business
Investors want to make sure management is doing the best job it can to keep these costs in control as well as maintaining their bottom line. Operating expenses are available on the financial statements that every publicly traded company files with the SEC.
Management also must do a good job turning a profit with its own operations. That means the costs associated with cost of goods sold (COGS), etc. must generate more than those costs. If not, well, the company must be in the wrong line of business. Companies should never be operating at a loss. If a company is operating at a loss exactly why needs to be interpreted by the prospective investor
Operating margins represent the direct relationship between sales revenue and operating income. The operating margin of a firm is the operating income divided by net sales. It shows how much gross profit a company generates before taxes.
Well-managed companies should increase these margins from year to year. The higher these margins are the more profits are available to return to shareholders investing in the company. Operating margins can be a useful tool when comparing two prospective stocks that compete within the same market.
Higher operating margins represent a company in a better position to generate income. For example, a company with a lower operating margin than a competitor in its market will have less flexibility in determining prices. It’s competitor with higher profit margins will know this about it’s competitor and can “go for the jugular” by slashing prices and stealing market share.
Caffeinated Content – Members-Only Content for WordPress
Operating expenses are those costs every business has that are not considered directly related to a company’s first line of business. Operating costs include sales and marketing, research and development (R&D), administrative costs and other costs which does not involve directly in the business
Investors want to make sure management is doing the best job it can to keep these costs in control as well as maintaining their bottom line. Operating expenses are available on the financial statements that every publicly traded company files with the SEC.
Management also must do a good job turning a profit with its own operations. That means the costs associated with cost of goods sold (COGS), etc. must generate more than those costs. If not, well, the company must be in the wrong line of business. Companies should never be operating at a loss. If a company is operating at a loss exactly why needs to be interpreted by the prospective investor
Operating margins represent the direct relationship between sales revenue and operating income. The operating margin of a firm is the operating income divided by net sales. It shows how much gross profit a company generates before taxes.
Well-managed companies should increase these margins from year to year. The higher these margins are the more profits are available to return to shareholders investing in the company. Operating margins can be a useful tool when comparing two prospective stocks that compete within the same market.
Higher operating margins represent a company in a better position to generate income. For example, a company with a lower operating margin than a competitor in its market will have less flexibility in determining prices. It’s competitor with higher profit margins will know this about it’s competitor and can “go for the jugular” by slashing prices and stealing market share.
Caffeinated Content – Members-Only Content for WordPress
Aug
11
The Importance of the Finance Manager
Filed Under The Job Of The Marketing Director | Leave a Comment
Richard Taylor Edwards asked:
One of the most important functions in any company is that of the finance manager. For those who are uninformed, they tend to think the sole function of this position is that of the head of Accounts Payable and Accounts Receivable, but it goes far beyond that capacity. In fact, the finance manager is in charge of any financing and accounting function throughout the company.
The role of this position involves that of not only financing functions such as Accounts Payable, Accounts Receivable, and Billing, but it also involves that of budget projections and working with the Chief Financial Officer to make sure that the company’s funds are stable and assisting with any budget cuts that become necessary.
The finance manager is the head of both the Accounts Payable and Accounts Receivable areas of the company. As such, he will be the one to set policy and direct procedures for both areas of business. That includes hiring staff based upon need, following budget guidelines for expenses including staffing, assuring that procedures are followed by all staff members, setting reasonable quota system to assure work is completed in a timely fashion, and interacting with department supervisors on a regular basis in order to stay abreast of happenings within the department.
The finance manager will also compile reports that show all of the conditions within his department including expenditures, open invoices, production standards, quality control standards, and timeliness of both payment of invoices and processing of payments. The finance manager is also responsible for the billing operation of the Accounts Receivable Department and making sure that guidelines for timely billing are followed as well.
The finance manager also is the one who will work with other executives in order to develop the budget for each year. He will work with the Chief Finance Officer and Chief Executive Officer in order to develop an equitable solution for each year’s expenditures in both staff, office supplies, and any other needs that they company has including training, business trips, out of town meetings, and staff entertainment expenses. The finance manager has a very important position within a company, and his decisions will determine the financial stability of the company, at least within the areas that fall under his control. It is also his job to make certain that other departments and areas of the company follow their budgets and make the most use of the company’s money by avoiding frivolous expenses.
finance
One of the most important functions in any company is that of the finance manager. For those who are uninformed, they tend to think the sole function of this position is that of the head of Accounts Payable and Accounts Receivable, but it goes far beyond that capacity. In fact, the finance manager is in charge of any financing and accounting function throughout the company.
The role of this position involves that of not only financing functions such as Accounts Payable, Accounts Receivable, and Billing, but it also involves that of budget projections and working with the Chief Financial Officer to make sure that the company’s funds are stable and assisting with any budget cuts that become necessary.
The finance manager is the head of both the Accounts Payable and Accounts Receivable areas of the company. As such, he will be the one to set policy and direct procedures for both areas of business. That includes hiring staff based upon need, following budget guidelines for expenses including staffing, assuring that procedures are followed by all staff members, setting reasonable quota system to assure work is completed in a timely fashion, and interacting with department supervisors on a regular basis in order to stay abreast of happenings within the department.
The finance manager will also compile reports that show all of the conditions within his department including expenditures, open invoices, production standards, quality control standards, and timeliness of both payment of invoices and processing of payments. The finance manager is also responsible for the billing operation of the Accounts Receivable Department and making sure that guidelines for timely billing are followed as well.
The finance manager also is the one who will work with other executives in order to develop the budget for each year. He will work with the Chief Finance Officer and Chief Executive Officer in order to develop an equitable solution for each year’s expenditures in both staff, office supplies, and any other needs that they company has including training, business trips, out of town meetings, and staff entertainment expenses. The finance manager has a very important position within a company, and his decisions will determine the financial stability of the company, at least within the areas that fall under his control. It is also his job to make certain that other departments and areas of the company follow their budgets and make the most use of the company’s money by avoiding frivolous expenses.
finance
Aug
10
What kind of internet business or home business i can start to earn more money?
Filed Under Small Business | Leave a Comment
deb_18rahul asked:
I want to start a internet business or home business to earn more money. Please suggest a honest company. If you have any other suggestion for business.
Website content
I want to start a internet business or home business to earn more money. Please suggest a honest company. If you have any other suggestion for business.
Website content
Aug
3
Importance of Accounting Records and Companys Accounts For Business
Filed Under Income Statements From Pome By Gautam Koppala | Leave a Comment
Terry Cartwright asked:
Caffeinated Content
The main importance of accounting records lies in the fact that it holds true for all uneven situations and keeping a proper note of financial transactions can prove useful for you in times of problematic conditions. So whether business is big or small accounting records prepared in the proper manner will never loose value and is always recommended so that the business can potentially grow and outgrow others and stand as a reputable organisation.
Importance of Accounting- A Helping Hand in Outsourcing Business
In this growing age of money oriented society one generally opts for becoming an entrepreneur rather than slogging for hours as an employee in a company owned by others and there arises the need and importance of accounting records. If you are someone who wants to break into a new business, the importance of accounting should never be ignored. Accounting and finance are two very useful terms in business whether you are working on the day to day accounts activities or the longer term strategies that face you when setting up and running a company. Accounting software is always an option as it can mean low setup fees along with helping you begin your business with good bookkeeping and accounting principles from the outset.
Accounts for business and accounts formats help in managing a company well. A company’s accounts records held on an accounts ledger give the detailed description about its profits and losses in a cash spread sheet format. Auditors study the financial statement and thus determine the accuracy and integrity of your business and an accounting statement distinguishes the success ratio of your present business from past progress using accounts formats that are recognised by other companies and bodies.
The importance of accounting can be discovered from the fact that accounting principles such as double entry bookkeeping are compulsorily to be followed by all companies to avoid any future mishaps and this is clear when you look back at larger company crisis, small businesses can suffer more than larger companies through accounting ledger errors as they are less likely to have the assets available for sale should finances go wrong. Accounting asset of a company is calculated so that banks can easily provide loans and fund any projects you wish to take on in future. The strategy to be followed to establish a new business varies with accountant planning. With this in mind, if you wish to have a well established business then you need to take accounts for business very seriously from the start.
Knowledge of accounting software can help expand your business and help in building a bright future in accounting and finance. Accounting asset can include your employees, monthly input, services offered by them, products being produced. Accounting statements can track the entire positive and negative aspects of your company’s growth therefore having knowledge of accounts formats can help you in reach new heights and in turn business success.
Referral to accounts for business is a great way of keeping a note of the entire accounting asset, liabilities, profits and loss occurring in any organisation in a form of account ledger. It records all the transactions taking place in a company so that you can always have a check on the losses if required and according to generally accepted accounting principles, the basic framework of accounting should always include finance and accounting records. This is because accounting is relative to finance and goes hand in hand with it. Finance talks about the happenings of a company the profits and losses that it is facing. So importance of accounting plays a vital role in determining your goals and objectives.
Caffeinated Content
Aug
1
Advantages and Disadvantages of Debt Factoring
Filed Under Finance Expert Series: "what Every Business Owner Needs To Know About Factoring" | Leave a Comment
Michael Zielinski asked:
Debt factoring takes place when a business sells its accounts receivable to a specialized finance company known as a factor. The receivables are sold at a discount and the factor has the responsibility of collecting the outstanding amounts. This is also referred to as accounts receivable financing or factoring.
This type of arrangement is used by many businesses to improve cash flow and shorten the cash cycle. The business receives immediate cash from the factor and does not have to handle the collections process. Before entering into a debt factoring agreement, there are several key advantages and disadvantages to consider.
The primary benefit of debt factoring is that it provides a quick method of financing. Instead of waiting to receive cash from customer accounts receivables, the factor pays the business immediately. This can be important if the business needs cash to pursue future growth or expansion. It can also be a viable alternative for business wary of taking on debt or issuing equity to raise capital.
Another key benefit is that cash flow is improved and the cash cycle is shortened. The amount of time it takes a business to turn cash to goods to cash is accelerated. This fast turnaround may allow the business to take on additional customers or purchase additional inventory.
Protection from bad debts is a potential benefit. This would only apply if the business has entered into a non-recourse factoring agreement. Under this type of agreement, the factor assumes the risk of bad debts. In other words, if a customer account cannot be collected, the factor must absorb the loss.
Cost effective collections is another potential benefit. The business does sell the accounts receivable at a discount, but it also hands off the entire process of accounts receivable collections. The business has effectively outsourced the process which can save valuable time or reduce the number of employees needed for back office work.
On the other side of the equation, debt factoring does carry a number of distinct disadvantages. The primary disadvantage is the cost. Under a factoring agreement, the factor purchases accounts receivable at a discount. Depending on the discount percentage, a factoring agreement may imply a higher cost of capital. This cost must be compared to the cost of other methods of financing which are available to the business.
A second disadvantage is that when a business works with a factor, they are introducing an outside influence into their business. Since the factor will be responsible for collecting accounts receivable and may be responsible for amounts which cannot be collected, they may try to influence sales practices. This can include attempts to influence sales policies and timing, as well as the customers that a business with deal with.
Bad debt liabilities are a potential disadvantage. This would be applicable if the business has entered into a resource factoring agreement. Under this type of arrangement, the business is responsible for any amounts that cannot be collected from customers. The discount rate at which the factor purchases the accounts is usually lower, but this must be considered in light of potential charges for uncollectible accounts.
Customer relations are a final potential disadvantage. Since a third party will now deal directly with customers to collect amounts owed, this can negatively impact their perception of the business. This is especially true if the factor engages in aggressive or unprofessional practices when collecting accounts.
Debt factoring represents a complex business agreement. It usually requires a long term contract and the modification of some current sales practices. When evaluating whether debt factoring is a good choice for a business, both advantages and disadvantages must be weighed to make an informed descision.
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Debt factoring takes place when a business sells its accounts receivable to a specialized finance company known as a factor. The receivables are sold at a discount and the factor has the responsibility of collecting the outstanding amounts. This is also referred to as accounts receivable financing or factoring.
This type of arrangement is used by many businesses to improve cash flow and shorten the cash cycle. The business receives immediate cash from the factor and does not have to handle the collections process. Before entering into a debt factoring agreement, there are several key advantages and disadvantages to consider.
The primary benefit of debt factoring is that it provides a quick method of financing. Instead of waiting to receive cash from customer accounts receivables, the factor pays the business immediately. This can be important if the business needs cash to pursue future growth or expansion. It can also be a viable alternative for business wary of taking on debt or issuing equity to raise capital.
Another key benefit is that cash flow is improved and the cash cycle is shortened. The amount of time it takes a business to turn cash to goods to cash is accelerated. This fast turnaround may allow the business to take on additional customers or purchase additional inventory.
Protection from bad debts is a potential benefit. This would only apply if the business has entered into a non-recourse factoring agreement. Under this type of agreement, the factor assumes the risk of bad debts. In other words, if a customer account cannot be collected, the factor must absorb the loss.
Cost effective collections is another potential benefit. The business does sell the accounts receivable at a discount, but it also hands off the entire process of accounts receivable collections. The business has effectively outsourced the process which can save valuable time or reduce the number of employees needed for back office work.
On the other side of the equation, debt factoring does carry a number of distinct disadvantages. The primary disadvantage is the cost. Under a factoring agreement, the factor purchases accounts receivable at a discount. Depending on the discount percentage, a factoring agreement may imply a higher cost of capital. This cost must be compared to the cost of other methods of financing which are available to the business.
A second disadvantage is that when a business works with a factor, they are introducing an outside influence into their business. Since the factor will be responsible for collecting accounts receivable and may be responsible for amounts which cannot be collected, they may try to influence sales practices. This can include attempts to influence sales policies and timing, as well as the customers that a business with deal with.
Bad debt liabilities are a potential disadvantage. This would be applicable if the business has entered into a resource factoring agreement. Under this type of arrangement, the business is responsible for any amounts that cannot be collected from customers. The discount rate at which the factor purchases the accounts is usually lower, but this must be considered in light of potential charges for uncollectible accounts.
Customer relations are a final potential disadvantage. Since a third party will now deal directly with customers to collect amounts owed, this can negatively impact their perception of the business. This is especially true if the factor engages in aggressive or unprofessional practices when collecting accounts.
Debt factoring represents a complex business agreement. It usually requires a long term contract and the modification of some current sales practices. When evaluating whether debt factoring is a good choice for a business, both advantages and disadvantages must be weighed to make an informed descision.
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Jul
31
Jim Mcdonald asked:
Are you looking to buy a business? Or maybe sell one? Before you go very far in the sales or purchase process, you’ll need to decide whether you’re going to handle everything yourself or use the services of business brokers. How can you best make that decision and what factors should you consider? Lets look at some of the pros and cons of business brokers.
Business brokers are third parties that handle the details when you buy or sell a business. They aren’t the business owner who is selling, nor are they the buyer who will soon own a new business. They are essentially like real estate agents, professionals who bring buyers and sellers together, facilitate the negotiation, and handle the transaction once the deal is made.
The Pros of Business Brokers
There are several good reasons to use business brokers instead of handling the business sale yourself. One of the best reasons is time savings. Selling a business can take a particularly large amount of time. There are many documents that are required before the sale can take place. You can either take the time to put this documentation together on your own, or you can let a business broker assemble these documents for you. If anything, documentation requirements increase during the sale process.
Business brokers can also save time by qualifying prospects. Advertisements that let everyone know your business is for sale may attract potential buyers who actually don’t have the potential to buy at all. Business brokers are experienced at weeding out the “tire kickers” and bringing only the serious buyers to the negotiating table.
In fact, if business brokers are doing their jobs well, they should be maintaining lists of prospects who are ready to buy. If you choose to sell your business through a broker, advertising the sale might not even be necessary. If you’re interested in buying a business, you may be able to find the sort of business you’re looking for more quickly by working with business brokers.
Another good reason to use business brokers is being able to profit from their experience. If you’re buying a business, you may have already bought several and have all the experience you need. However, selling your business typically occurs less often, so you don’t have as many chances to learn how. Because brokers buy and sell businesses all the time, they have accumulated quite a bit of experience.
Business brokers are often used when buyers or sellers want to maintain confidentiality. In some arenas, all the players are so well known that the market itself could be changed by knowledge of a pending sale or purchase.
The Cons of Business Brokers
Maybe a better way to word that would have been the “downsides” of using business brokers. There’s really no reason to expect that business brokers are likely to con you, but there are a couple of reasons why you might want to consider selling or buying a business on your own.
First of all, remember that business brokers charge commissions. There is a lot of work involved in these types of transactions, and if a broker is going to handle everything, he’s going to want some compensation out of the deal. Someone, either the business seller or buyer, will be charged by the business broker.
There’s no guarantee that business brokers will have your best interests in mind. Again, like a real estate agent, the broker will either be working on behalf of the buyer or the seller. The information that he provides about the business will probably be truthful, but might be “spun” to make a business more attractive to increase the chances of a successful deal.
If you’re buying or selling in a specialized industry, business brokers might not have the specific industry knowledge that’s required. In these cases, you’re probably better off working on your own if you have insider information that’s difficult for those outside the business to comprehend.
Finally, a broker might not have your passion for the business or the strong desire to see the deal completed. You should keep in mind, though, that passion and emotion generally don’t belong in the sale or purchase of a business. The emotional detachment of a business broker might be exactly what you need.
Caffeinated Content – Members-Only Content for WordPress
Are you looking to buy a business? Or maybe sell one? Before you go very far in the sales or purchase process, you’ll need to decide whether you’re going to handle everything yourself or use the services of business brokers. How can you best make that decision and what factors should you consider? Lets look at some of the pros and cons of business brokers.
Business brokers are third parties that handle the details when you buy or sell a business. They aren’t the business owner who is selling, nor are they the buyer who will soon own a new business. They are essentially like real estate agents, professionals who bring buyers and sellers together, facilitate the negotiation, and handle the transaction once the deal is made.
The Pros of Business Brokers
There are several good reasons to use business brokers instead of handling the business sale yourself. One of the best reasons is time savings. Selling a business can take a particularly large amount of time. There are many documents that are required before the sale can take place. You can either take the time to put this documentation together on your own, or you can let a business broker assemble these documents for you. If anything, documentation requirements increase during the sale process.
Business brokers can also save time by qualifying prospects. Advertisements that let everyone know your business is for sale may attract potential buyers who actually don’t have the potential to buy at all. Business brokers are experienced at weeding out the “tire kickers” and bringing only the serious buyers to the negotiating table.
In fact, if business brokers are doing their jobs well, they should be maintaining lists of prospects who are ready to buy. If you choose to sell your business through a broker, advertising the sale might not even be necessary. If you’re interested in buying a business, you may be able to find the sort of business you’re looking for more quickly by working with business brokers.
Another good reason to use business brokers is being able to profit from their experience. If you’re buying a business, you may have already bought several and have all the experience you need. However, selling your business typically occurs less often, so you don’t have as many chances to learn how. Because brokers buy and sell businesses all the time, they have accumulated quite a bit of experience.
Business brokers are often used when buyers or sellers want to maintain confidentiality. In some arenas, all the players are so well known that the market itself could be changed by knowledge of a pending sale or purchase.
The Cons of Business Brokers
Maybe a better way to word that would have been the “downsides” of using business brokers. There’s really no reason to expect that business brokers are likely to con you, but there are a couple of reasons why you might want to consider selling or buying a business on your own.
First of all, remember that business brokers charge commissions. There is a lot of work involved in these types of transactions, and if a broker is going to handle everything, he’s going to want some compensation out of the deal. Someone, either the business seller or buyer, will be charged by the business broker.
There’s no guarantee that business brokers will have your best interests in mind. Again, like a real estate agent, the broker will either be working on behalf of the buyer or the seller. The information that he provides about the business will probably be truthful, but might be “spun” to make a business more attractive to increase the chances of a successful deal.
If you’re buying or selling in a specialized industry, business brokers might not have the specific industry knowledge that’s required. In these cases, you’re probably better off working on your own if you have insider information that’s difficult for those outside the business to comprehend.
Finally, a broker might not have your passion for the business or the strong desire to see the deal completed. You should keep in mind, though, that passion and emotion generally don’t belong in the sale or purchase of a business. The emotional detachment of a business broker might be exactly what you need.
Caffeinated Content – Members-Only Content for WordPress
Jul
27
What business class is good for wanting to own a salon?
Filed Under Small Business | Leave a Comment
J SEXXY asked:
I want to do a business class so I can own a salon. So what type of business class should I take? I was thinking business administration.
Kansieo.com
I want to do a business class so I can own a salon. So what type of business class should I take? I was thinking business administration.
Kansieo.com
Jul
20
How to Promote an Office Cleaning Business
Filed Under U.S. Bank Failures Zoom To 90 | Leave a Comment
Brent Wale asked:
Copyright (c) 2008 Brent Wale
If you are thinking about starting up your own janitorial/ cleaning business, here are some low-cost promotional strategies & techniques you can use to get accounts for your office cleaning business.
Starting an office cleaning business is simple, and requires little start-up capital. For the most part, the only expense involves buying supplies and advertising.
Fortunately, cleaning supplies are cheap, and it costs even less to advertise in local newspapers, or online. Because most business professionals are busy, they are willing to pay a company or individual to clean their offices. You just need to learn how to brand your Office cleaning company in order to grow your business.
Remember, Almost anyone can clean. The trick is to hire others to do all the cleaning once you get things up and running. This leaves you free to generate new business. There are very simple and inexpensive ways to market your office cleaning accounts.
Here are just a few simple ways:
* Specialized Service:
If you offer your cleaning service for just one type of business.. let’s say , lawyer’s offices, by concentrating all your efforts in one type of clients, it will make your life easier, and your efforts far more better than being everything for everyone. Think about this, if a lawyer compares between 2 companies, company A is a general commercial cleaning company that offers service for all type of businesses, and company B specializes in just lawyer offices. Who would he choose?
By specializing in one or few types of service you give a message that you offer a service tailored for their needs,and that’s exactly what loyal clients want. Try to copy this idea by finding a small niche, like Doctor’s offices, dental offices, pharmacies, Real Estate, High Tech offices, etc..
Don’t misunderstand me here. You can still go after any type of offices to clean. But you can tailor your marketing towards each individual type of industy. In other words..You can have specialized services in many different industries.
* GIVE-A-WAYS:
One marketing strategy used by office cleaning business owners are giveaways”. Businesses love to try services for free. Once they see what a good job you do, and once you earn their trust, there’s a good chance you have just earned a client. If you’re running a cleaning business, you could give away a cleaning tips brochure, free cleaning guides, or color swatches. Once you begin giving away authoritative information customers will begin to perceive you as an expert in your field. (This may seem somewhat difficult and time consuming but I promise you it’s not).
* Business Cards:
This is one of the greatest marketing tool for any Janitorial/office cleaning business. The problem is most folks that are new to the office cleaning business don’t know how to do this correctly. If you know how to get your business card into the hands of the right people, at the right time you will generate a ton of business just from this one little strategy alone.
Simply learn how to Provide an irresistible offer on the back of the card for new clients. This has worked for office cleaning business owners many times over!
You don’t have to hand out 200 business cards and hope for the best. There are methods of getting leads that can actually help you obtain more business than if you were running an expensive full-page advertisement in the phone book!
* Print Advertising:
Start by setting an advertising budget. Once you set your budget, decide where to advertise. For a cleaning business it makes no sense and would be a waste of your money to advertise in a large magazine or buy a TV commercial that airs on a Saturday night. Besides being expensive, these ads will most likely not reach your target audience. The common print ad, run in your local newspaper or shopper, is the most basic unit of advertising.
Print ads have launched major office cleaning companies and created many success stories. Running ads in a local paper can be a great way to promote your cleaning business…but you must follow a few basic rules.
Your ad should attract attention! Although this sounds obvious, unless your ad attracts attention you are throwing your money down the drain. The most compelling way to have a “noticeable” ad is to have an interesting and visually appealing headline. If you are designing a large ad, think of using a subhead. This will provide added information and can be longer than the headline.
* Greeting Cards:
Greeting cards can be used as a great Marketing Tool when it comes to repeat business and referrals. Use them to thank clients for their business. Send them as greeting for most of the holiday occasions. Try to send cards as early as possible so they can be the first in your clients mailbox. Surprise them first so they can always remember you. Use handwritten messages to show more appreciation to your customers. If you use this marketing tool,you can always save money by buying cards after occasions, in quantity and keep them for next year.
* Electronic Media:
Buy banner ads in electronic media. Look for websites that target your potential customers, such as your local chamber. This can deliver your information right to the business that needs your service.
Create a video blog
Copyright (c) 2008 Brent Wale
If you are thinking about starting up your own janitorial/ cleaning business, here are some low-cost promotional strategies & techniques you can use to get accounts for your office cleaning business.
Starting an office cleaning business is simple, and requires little start-up capital. For the most part, the only expense involves buying supplies and advertising.
Fortunately, cleaning supplies are cheap, and it costs even less to advertise in local newspapers, or online. Because most business professionals are busy, they are willing to pay a company or individual to clean their offices. You just need to learn how to brand your Office cleaning company in order to grow your business.
Remember, Almost anyone can clean. The trick is to hire others to do all the cleaning once you get things up and running. This leaves you free to generate new business. There are very simple and inexpensive ways to market your office cleaning accounts.
Here are just a few simple ways:
* Specialized Service:
If you offer your cleaning service for just one type of business.. let’s say , lawyer’s offices, by concentrating all your efforts in one type of clients, it will make your life easier, and your efforts far more better than being everything for everyone. Think about this, if a lawyer compares between 2 companies, company A is a general commercial cleaning company that offers service for all type of businesses, and company B specializes in just lawyer offices. Who would he choose?
By specializing in one or few types of service you give a message that you offer a service tailored for their needs,and that’s exactly what loyal clients want. Try to copy this idea by finding a small niche, like Doctor’s offices, dental offices, pharmacies, Real Estate, High Tech offices, etc..
Don’t misunderstand me here. You can still go after any type of offices to clean. But you can tailor your marketing towards each individual type of industy. In other words..You can have specialized services in many different industries.
* GIVE-A-WAYS:
One marketing strategy used by office cleaning business owners are giveaways”. Businesses love to try services for free. Once they see what a good job you do, and once you earn their trust, there’s a good chance you have just earned a client. If you’re running a cleaning business, you could give away a cleaning tips brochure, free cleaning guides, or color swatches. Once you begin giving away authoritative information customers will begin to perceive you as an expert in your field. (This may seem somewhat difficult and time consuming but I promise you it’s not).
* Business Cards:
This is one of the greatest marketing tool for any Janitorial/office cleaning business. The problem is most folks that are new to the office cleaning business don’t know how to do this correctly. If you know how to get your business card into the hands of the right people, at the right time you will generate a ton of business just from this one little strategy alone.
Simply learn how to Provide an irresistible offer on the back of the card for new clients. This has worked for office cleaning business owners many times over!
You don’t have to hand out 200 business cards and hope for the best. There are methods of getting leads that can actually help you obtain more business than if you were running an expensive full-page advertisement in the phone book!
* Print Advertising:
Start by setting an advertising budget. Once you set your budget, decide where to advertise. For a cleaning business it makes no sense and would be a waste of your money to advertise in a large magazine or buy a TV commercial that airs on a Saturday night. Besides being expensive, these ads will most likely not reach your target audience. The common print ad, run in your local newspaper or shopper, is the most basic unit of advertising.
Print ads have launched major office cleaning companies and created many success stories. Running ads in a local paper can be a great way to promote your cleaning business…but you must follow a few basic rules.
Your ad should attract attention! Although this sounds obvious, unless your ad attracts attention you are throwing your money down the drain. The most compelling way to have a “noticeable” ad is to have an interesting and visually appealing headline. If you are designing a large ad, think of using a subhead. This will provide added information and can be longer than the headline.
* Greeting Cards:
Greeting cards can be used as a great Marketing Tool when it comes to repeat business and referrals. Use them to thank clients for their business. Send them as greeting for most of the holiday occasions. Try to send cards as early as possible so they can be the first in your clients mailbox. Surprise them first so they can always remember you. Use handwritten messages to show more appreciation to your customers. If you use this marketing tool,you can always save money by buying cards after occasions, in quantity and keep them for next year.
* Electronic Media:
Buy banner ads in electronic media. Look for websites that target your potential customers, such as your local chamber. This can deliver your information right to the business that needs your service.
Create a video blog
Jul
19
Ending a home based business – what are the tax implications?
Filed Under United States | Leave a Comment
Eric M asked:
I’ve been writing off my home based business for the last few years. If I stop using that portion of my home solely for my business, how do I indicate that on my taxes?
I’ve been writing off my home based business for the last few years. If I stop using that portion of my home solely for my business, how do I indicate that on my taxes?
Additionally, does anyone know of any resources that indicate what the implications are of stopping a home based business write-off?
I see lots of information on how/what to write-off for a home based business, but can’t seem to find anything on what to do when that ends.
Caffeinated Content – Members-Only Content for WordPress
Jul
17
What is a good business to purchase for a first time business owner?
Filed Under Small Business | Leave a Comment
Danka asked:
I have my business degree, and money for investing. I am interested in buying a business that doesn’t require my presence and that is profitable. What is a good type of business to purchase in the next year in South Florida?
Create a video blog…instantly.
I have my business degree, and money for investing. I am interested in buying a business that doesn’t require my presence and that is profitable. What is a good type of business to purchase in the next year in South Florida?
Create a video blog…instantly.