Factors to Consider Prior To Starting a Landscape Supply Company

Irrespective of one’s financial status, starting a company or rather business is not a walk in the park. It gets even harder when it is a landscape supply company. Unlike other supply businesses, a landscape supply business is highly profitable. Suffice to say, it is a very lucrative business that requires one to have necessary resources and ample skills to effectively run it.

Therefore – prior to starting such a business – it is imperative for one to understand what needs to be done, when and how to go about the entire process that is involved in the daily running of a landscape business. Being a self descriptive venture, it provides customers with landscaping supplies for the beautification of their gardens and lawns. Listed are factors to consider prior to setting up a landscape supply company.

For starters, structure your business’ entity. Structuring ones business entity is inevitable and crucial at the same time. To be legally allowed to run a landscape business, one can either form a limited liability company; sole proprietorship or better, a corporation. However, the process of establishing a business entity requires the assistance of an attorney or a certified public accountant. Visiting ones secretary of state website to form a limited liability company can also suffice.

Next, obtain a tax identification number from the Internal Revenue Service’s (IRS). This is the second and the most fundamental step to starting a landscape company. In order to carefully plan and manage the running of a landscape business, in regards to hiring employees, expanding and effectively building credible business credit; obtaining a tax ID is necessary, if not very important.

For the records, one can easily obtain a tax identification number by calling an IRS representative over the phone. Or – if detailed processes are your thing – you can gladly print form SS-4 from the Internal Revenue Service’s website then physically put it in the mail. Nonetheless, the simplest and easiest way to apply for one is just by visiting the IRS website, period.

Lastly, acquire a license. While this is necessary, it is noteworthy to check first with the secretary of state or local chamber of commerce to determine if a business license is required for the operation of a landscape supply company in your area. Afterward, determine if you want to operate solely the company through an office or online with just a website. Finding suppliers that can sell landscape supplies to customers, establishing a merchant account and creating marketing materials can also be considered at this stage.

Top Ten Factors in Running a Successful Construction Contractor Business

It is not easy running a construction business. There are many pitfalls and ways to lose money but if you follow some basic steps you can not only make a living but become very wealthy. Many successful construction contractors have learned there are certain things you absolutely must do right all the time and certain skills you must have or acquire in order to make it in this very competitive industry. In this article I will summarize what it takes to be a successful construction contractor in their order of importance.

Most Important Factor: Hands On Experience

Do not even think about starting a construction contractor business unless you have at least five years of broad (meaning general, not specialized) construction experience. The only exception to this is if you intend on specializing in one area and one area only. We call this a niche. Niche’s can be very profitable, but they can also go away, change or be replaced by technology, new products, changes in the industry or societal changes. The best chance for success in the general contractor business is to gain experience doing everything. This general experience has many benefits. It gives you the ability to identify and hire competent individuals, fire incompetent ones, evaluate good work product and identify poor work product. Probably the most important thing it gives you is the ability to transition from being a technician to being a manager. The best experience comes from small to mid-sized construction companies that require you to be a jack of all trades. Larger companies have a tendency to pigeonhole you into niches. That is fine if your business model is a niche, but if you start a general contractor construction business with skills in only a few niche areas, you will fail unless you hire to your weaknesses.

Second Most Important Factor: Outstanding Accounting System

If you do not have a sound accounting system your construction business will eventually fail. This CPA has witnessed this too many times than I care to recount. Sound accounting systems allow you to evaluate whether or not you make a profit on a job by job basis. Going with gut instinct is dangerous and fraught with risk. A sound accounting system helps you identify those things you do right on each job as well as the mistakes you’ve made. Numbers don’t lie. Unfortunately, my experience has shown me that most construction contractors pay little attention to their system of accounting. There is a fear that proper accounting will set the business owner up for higher taxes. Thus, cash received on a job and cash disbursed go unreported in an effort to avoid tax. What a mistake. I don’t care how great your gut feeling is on each job, if you don’t have an accounting of every penny on each job, you can rest assured you are flying blind and losing money on each job. You will go out of business and your family life will suffer. If you decide to start your own business you need to act like a professional business owner and that means creating a sound accounting system. Failed accounting systems lead to litigation, failure and bankruptcy.

Third Most Important Factor: Effective Management

When you have hands on experience in the industry, forged by many years (at least five years) of working in every facet of the construction business, you are better able to make the transition from technician to manager. Effective management requires that you have sound procedures on many aspects of your business. Well-defined work product processes, along with accompanying task-specific checklists, allows you to drill your workers on every aspect of a task within a job. You should have a work product process with accompanying checklists for just about every major task within a job. This eliminates human error and allows you to make corrections before the task is officially completed. It is a construction company owners #1 management tool. You must develop a process for each job and each task. This process must be in writing and stored in a binder for each job, along with the task checklist. The task checklist should be calendarized. Your jobs binder should include the following:

Tab #1 – A copy of the signed contract and any change orders.

Tab #2 – Budget for the job. Budget for each change order.

Tab #3 – Accounting for income and expenses. The income portion would include the contract bid price, monies received either as deposits or as the stages of the project are completed and monies received for change orders.

Tab #4 – Task List Summary.

Tab #5 – Task #1 Process Summary and Checklist.

Tab #6 – Task #2 Process Summary and Checklist.

etc.

Last Tab – Customer sign off letter on completed work along with standard testimonial letter signed by customer, listing customer’s name and contact information along with permission to use the testimonial in marketing and as a reference for prospective customers. You will transfer copies of each testimonial letter to a separate binder that you will take with you to each prospect. This testimonial binder may be the only thing separating you from your competition. It gives assurance to prospects that you take customer satisfaction very seriously and may be the difference maker. It allows prospects an opportunity to reach out to previous customers in order to obtain references. It also shows the prospect your company is very organized and well run. Lastly, have a picture of the before and after on each job in this binder.

Fourth Most Important Factor: Strong Business Partnerships

A stable of competent subcontractors who have many years of experience working together is crucial to the success of a job. Each job is a team effort and having a strong network of competent individuals/businesses available to you for each job, and who understand your businesses processes, will make each job run much more efficiently. Efficiency and competency = profit on each job.

Fifth Most Important Factor: Project Bidding Process

You can be the most skilled, best managed construction company, with a stable of talented subcontractors and still go out of business if you do not have a strong process in place on bidding for each job. You can lose your shirt if you underbid a job. How does this happen? The most common cause of underbidding is not doing your homework and relying on your gut or unverified estimates rather than a fail safe process of checking and double checking each cost within each task. The devil in any construction job is in the details. The bidding process is very much like your business plan for each job. It must identify every task, every cost and each cost must be checked and double checked before bidding on the job. Where many construction contractors go wrong is in estimating the cost of tasks incorrectly. These incorrect estimates are caused by flawed assumptions on the tasks and the associated costs, which is the result of not accurately verifying and then re-verifying every task and every cost. It is a painstaking process but you must get the bid right. Your assumptions on each task must be vetted not once but at least twice. You know the rule: measure twice cut once. This adage is particularly true in the bidding process.

Sixth Most Important Factor: Marketing

Everyone in the construction business understands the importance of referrals. Most of your prospective customers come by way of referral. But referrals are not enough. What should be part of your marketing tool belt?

1. You should have an active web site that includes customer testimonials front and center.

2. You should join a networking group.

3. You should join a civic organization.

4. You should provide valuable assistance to local community non-profit groups (one or two will suffice nicely).

5. You should have a regular process of bidding jobs that are not referral-based

6. You should have a process for direct mailings very week.

7. You should have business cards, stationary, job site signs.

8. You should advertise in the yellow pages or local newspapers.

9. Customer Testimonial Binder (referenced above).

10. You should have brochures.

Seventh Most Important Factor: Stay Current With Technology and Replace Old Equipment/Tools

You must upgrade your equipment and tools to stay current with technological changes. This will not only improve efficiency but also the quality of each job. You must also replace old equipment and tools in order to get each job completed efficiently and on time. You will know when it is time for new equipment and tools when the old equipment and tools begin breaking down at a rate that causes recurring delays. When equipment/tools breakdown it can cause cost overruns and result in late completions. No matter how good the quality of your work is, missing completion dates harms your reputation.

Eighth Most Important Factor: Hire To Your Weaknesses

No matter how much experience you have and how skilled you may be there are certain things each one of us does well and certain things we do badly. More often than not, the things we do well are the things we enjoy doing and the things we do badly are the things we hate doing. A skilled business owner will hire people who do have strengths in areas the business owner has weaknesses. As an example, one of my clients nearly went out of business because he did not like having to make calls to collect receivables. My advise to him? Hire someone who is expert in collections. He took me up on my advise and eventually, his collections expert, became his partner. His business is thriving now. Hire to your weakness and watch your business boom.

Ninth Most Important Factor: Document Mistakes and Failures

This should be incorporated into your Job Process/Task List Binder. You must learn from your mistakes. Mistakes should not be considered anything other than an experience learned. Document those bad experiences and incorporate them into your job process and task list binder so as to never repeat them again.

Tenth Most Important Factor: Change Orders

Most contracts include language regarding change orders. Change orders are caused by many factors, which is beyond the scope of this article, but let me be clear in saying that you must cost out every change order as if you were costing out the job. You must then process the change order (list each task and assign a date of completion for each task) and attach a task checklist for each new task resulting from the change order. Lastly, you must get the customer to understand and sign off on the change order or you will not collect your full price for the job. Many construction contractors unfortunately do a poor job in addressing change orders. They are reluctant to highlight it with the customer and gloss over it in an effort to avoid confrontation. The reason? The reality of change orders are not addressed up front when you are bidding on the job. Customers only see the price you gave them and that is in the contract. You must address the reality of a change order occurring at the outset of the bidding process and before the contract is signed. If a customer understands from the very beginning that change orders do occur often and that a change order will increase the price of the job, you will be less shy about confronting the customer when it does occur.

Factors Affecting Your Corporate Identity

The strong Corporate Identity is vital need for any organization irrespective of its size. Even a smaller company with strong corporate identity can beat its strong contenders. In other words, the brand image of any company, business or organization is vital to its success. An organization can generate fresh set of customers through strong corporate identity or industry presence.

There are various factors which can affect the brand image of any organization. Some most important factors are as follows:

  1. Website – A perfect portal is must for every small, medium or big organization, company or business. The world has become so small in this e-connected world, people are eager to know anything and everything about the details of products being offered by a particular company. They are also interested in knowing what your past customers are saying.
  2. Logo– A logo represents the goals, vision, and attitude of any organization or company towards his business and customers. They need to be specific in terms of a Logo. Companies give stress on a logo which design can match the services and targeted customer’s prospects.
  3. Stationary – Stationary is also one of the most important factor in deciding corporate identity and brand image of a company, business or organization. That includes, Company Letter Heads, Correspondence Business Envelopes, Services Brochures, Post Cards, Business Cards, and Employees Identity Cards (Magnetic Cards). A letter head makes an emphatic impact on readers or viewers mind. If your Letter Head looks professional as well as classy at the same with illustrating vital information regarding your organization, most of your business proposals will be readily accepted or at least you will get first hand queries enquiring more about your services. Business cards also make a great impact on your company’s identity and brand image. Those are not a thing to be included in wallets of your Top Business Executives and marketing personnel’s in fact they carry the most feasible means of contact for your organization. With every distributed business cards you executives are leaving information as well as future business prospects for your company, so it should be realistic and matching to your company’s identity and Brand.
  4. Print Advertisements – Print advertisements still carry the same level of importance in front of people as earlier. Every ad flyer or ad brochure is representing a sample of your organization. So it should reflect the pride and uniqueness of your organization.

There are several other branding options and ways of enhancing your corporate presence. But stationary is one of the most important among all of them. No doubt the business scenario has changed a lot during last few years from manual to automatic transfer of operations. But still your printed materials are very important and you should not avoid it at any case.

Factors to Consider in Letter Writing

Even in the face of advancement of mobile communication and SMS technology, writing letters continue to be an important and effective means of communication. Especially in formal discussions and agreements, they are often finalized in letters.

Writing letters date back from the olden days. It is way of communicating via a pen and some kind of paper. The notes passed in class between friends are considered letters. But the formal letters are what we will bring to focus in this discussion.

It is very important to learn how to write letters clearly and effectively. Otherwise, you fail to get the right message across. The good thing with writing letters, in contrast to verbal communication, is that you have a moment to pause and think about what you want to say, the order of the things you want to say, and at the same time be able to choose the right words to deliver a clear message.

In writing a letter, determine your purpose. It will make it easier to construct your sentences. Organize your thoughts beforehand. If possible, you can draft an outline first and write a trial letter. Read it over and over and edit along the way as necessary.

Be clear and make sure your data is complete. Provide names, dates, venues, time, contact numbers, addresses and other specific details as necessary and appropriately. If necessary, state the main reason for writing that letter, and what you want to achieve from bringing that message.

Get the appropriate tone. It is always critical to reach a correct tone. Avoid being too formal or too casual. Generally, business letters should acquire a more formal tone. Personal letters to friends are more informal. Use respectful words typical in formal letters.

Keep your sentences simple and sincere as possible. The reader will always sense whether you are genuine or just making stories. Steer clear from terminologies not familiar to your addressee. In fact, as a general rule, avoid using highfaluting words. Use common words as much as possible. For example, if you mean something big, avoid using the word “colossal” when you simply mean huge or large.

A well written letter does not go in circles. It drives to the conclusion in a clear manner. It maintains a precise yet complete message. It does not beat around the bush because that only makes the reader more confused.

A good letter has the gist of the message in the first paragraph. It expands into details as the letter progresses. Succeeding paragraphs all support the main idea.

The final paragraph usually summarizes the message and extends regards to the recipient. In this part, you usually express gratitude for taking the time out to read what you have written. This is also the part wherein appreciation is expressed.

There are several formats you can follow. But typically, in every letter, there are five parts. First is the date and time. Second is the address of the sender (your address). Third is the salutation (often starts with “Dear”). Fourth is the body of the letter. This is your main message and the largest part of the letter. And fifth is the closing or your signature.

The Big 3 Factors in Choosing a Sports Handicapper

Are you a sports fan who likes to bet on his favorite team? Are you a casual bettor or do you bet on sports seriously? For casual bettors who enjoy plopping down a few bucks on a game of interest, there is not so much a need to pay for a professional service that provides betting advice. It’s just a little money on an interesting game, and it makes spectating a little more enjoyable. But for those individuals who take their sports betting seriously, they may want to consider hiring a sports handicapping service.

In many cases, it can make sense to hire a handicapping service, but you need to understand exactly what you are paying for. You’re not hiring the handicapper (also known as “capper”), for some additional counsel. They shouldn’t be viewed as just another opinion. If you are going to pay handicappers, then you should take their tips and bet them accordingly. Picking and choosing which bets to play may not be the best strategy.

So let us assume you have made the decision to hire a capper because you are serious about making money in the world of sports betting. What should you look for in your search? Although there are many similarities in the various cappers, there are also some differences as well. In this article we will review three of the most important considerations.

Look for an Experienced Handicapper

There is an old saying that there is no substitute for experience and that is very true in the world of sports handicapping. Make no mistake that capping sports games successfully takes a lot of hard work. There are many variables to consider and these guys need time in the business to really figure out how to do their jobs effectively. That usually involves many years in the business. Thus, look for a handicapper with at least ten years of solid experience handicapping sports.

Find a Handicapper Who Posts Results Publicly

In the business of sports betting, there are many handicappers who prefer to keep their identities and results private. That may serve their own needs well, but for me, I want to know who I am hiring and what their track record for successful capping has been. Look for someone who isn’t afraid of being transparent, if not with their identity, at least with their results. It is common knowledge that even the top handicappers are only successful 55-60% of the time. Make sure the handicapper has a success rate of a minimum of 55%, so that you can bet profitably over the long run. After all, you are paying him for his expertise and he should therefore be willing to own up to all of his picks.

Ensure the Pricing Structure Fits into Your Budget

The bottom line in professional sports betting is making money. The bookmaker must get paid. The handicapper must get paid, and you, the bettor, wants to get paid too. Before you hire a handicapper, make sure you have a complete understanding of his prices. Are you paying for a subscription? If so, how long does it last, and is the renewal rate the same? Calculate the handicapper’s fees into your formula to determine how successful you need to be to profitable. Higher priced handicappers are more suited for the bigger bettors.

Conclusion

Who is the best sports handicapper? The answer may surprise you. There are quite a few good ones out there. If you choose one that has been capping for at least ten years, posts their results publicly, and has a fair pricing structure, then you have done your homework and are ready to dive into sports betting with a good partner.

Easiest Business Loan to Get: What Factors Are Important When Looking for a Financing Solution?

Every type of business requires some sort of loan or line of credit for a wide range of reasons: start up capital, equipment, inventory, office rental, etc. Since every business and every owner is different and has unique circumstances, the easiest business loan to get for another owner might not be the easiest for you.

For start-ups or businesses that have either no credit history or a poor credit history, it will likely be difficult to obtain traditional bank loans. Also, with a low credit score, your interest rate will be high, even if you are approved for a loan.

Lenders will usually look at more than your credit history. Other factors include your time in business, industry, your personal credit score, whether you’ve had any recent bankruptcies or defaults, balance sheet, business licenses and permits, tax returns, purpose of loan, proof of collateral, and several other reasons.

If you can think that your financial situation is likely to improve, you’ll need to provide the documentation to prove it. Always have your documents and financial files ready and organized anyway, so that you’ll be able to get through the application process as smoothly as possible.

Are SBA Loans the Easiest Business Loan to Get?

Many people don’t consider SBA Loans and long-term loans to be the easiest business loan to get, as the application process is very long and complex. Only consider SBA loans and long-term traditional business loans if your credit score is high and you have all your financial statements prepared and ready to go. However, the application process still might take some time, so you’ll have to wait on approval.

If you need cash as quickly as possible, there are options such as merchant cash advances. This type of offer will help you access capital. You’ll receive a lump sum of cash, but you’ll be expected to give up a portion of future sales. You will have the responsibility for paying back the loan itself as well as fees. While there is no set fee, $15 for every $100 borrowed seems to be a pretty typical amount by many cash advance merchants.

Invoice financing and equipment financing are pretty similar with their requirements. With the former, you’ll need to show details of your unpaid invoices, as well as bank statements and other financial information. With the latter, you’ll need to explain the type of asset(s) your company needs to purchase, and provide an equipment quote, business tax returns, bank statements, etc.

There are many other options for business of all sizes thanks to the internet. Online lenders are popping up all the time, although it’s best to stick with one that has been around for at least a decade. Begin your search with US Business Funding, an accredited company with the BBB. They will help you find the easiest business loan to get for your needs.

4 Key Factors To Successful Record Label Management

The recipe for a successful record label, no matter how big or how small, involves many ingredients. Too many to mention here but if you had to narrow it down to the most crucial points you will find the following key ingredients to successful record label management.

  1. Having Talented Music Artists On The Roster,
  2. The Resources Available For CD Production,
  3. The Power To Distribute Music Straight Into The Consumers Hands,
  4. The Ability And Resources To Successfully Promote Music Artists.

1. Recording Artists

Number one on the list to running a successful record label is to have a talented roster of music artists. This not only involves finding extremely talented artists with commercial potential but also establishing contracts between the two, where the two party’s involved are both happy with their part of the agreement, thus resulting in an extremely harmonious and rewarding relationship.

The contract between artist and label should cover topics such as album production fees and spending budgets, recoupable revenue from sales of tickets, albums and merchandise etc, distribution of music royalties as well as possession of publishing rights and profits.

2. CD Manufacturing

It is usually the role of the record label to take care of the manufacturing of records and Compact Discs. If you are planning on setting up a record label you should be certain to possess the resources available to create and manufacture your artists’ music. After all this is an important part of making money for your label. If you are only a small-sized label you can find CD manufacturing plants which will meet the needs of smaller sized record labels and even offer pressing discounts that come with product packaging and art work at affordable rates. Now a days this whole process can be avoided due to the popularity of digital downloads.

3. CD Distribution

Distribution will get a label’s music straight into the palms of consumers. Distribution is paramount to earnings for any recording label. With regard to physical goods like CD albums, you must get them straight into retail stores and then directly into the hands of shoppers. With regard to downloadable music, you should make your products there for web sites (such as apple iTunes) which will sell the songs on-line. Direct selling is one other money-making path for a music label in selling their music.

4. Artist Promotion

Promotion is yet another crucial component to generating product sales. The music label utilizes mass media outlets such as music publications, web sites, radio campaigns, live performance tours and private appearances. You should understand the actual demographics for your niche and after that market appropriately. A solid marketing and advertising campaign will enhance ticket and record sales.

Newspaper Advertising Costs – 8 Factors To Consider

Calculating and comparing newspaper advertising costs can quickly get complicated. Once you’ve tracked down a newspaper advertising rates card, you’re then faced with the delightful challenge of making sense of it all. There’s no “one size fits all” to make our lives easy. Instead, newspaper advertising costs depend on a number of factors, some of which you might find surprising. To answer the question, “How much does it cost?”, the answer would be: “It all depends.”

8 factors that affect newspaper advertising costs (within the one publication) are:

  • type of ad
  • size
  • day of the week
  • section or lift-out
  • page position within a section
  • left hand side VS right hand side
  • colour VS black and white
  • annual spend/expenditure commitment

In this article, I’ll discuss the 8 factors that determine newspaper advertising costs in Australia. I’ll also provide an example of how much it would cost to place a display ad in The Courier Mail (a Queensland newspaper). As you’ll see, newspaper advertising costs can quickly add up. If you’re on a tight budget, as many of us are these days, knowing what most affects the cost, allows you to cut back where you can.

#1 Type of Ad – Display VS Classifieds VS Inserts

The first factor that decides the cost of a newspaper advertisement, is the type of ad. Most Australian newspapers offer a number of different types. Display advertisements appear throughout a newspaper, and may use colours, illustrations, photographs, or fancy lettering to attract the reader’s attention. These provide a great deal of creative control over the content of the ad, without being limited to just text. They also aren’t grouped according to classification, unlike classified ads. Display advertisements are typically charged at a rate per single column centimetre. In other words, the height in centimetres and width in columns determines the cost of the advertising space. On the other hand, classified ads are typically charged based on ‘lineage’ or per line.

Another form of advertising offered by most major newspapers are ‘inserts’ – separate advertisements that are placed inside the newspaper, and can have more than one page. Inserts are usually charged at a rate of per 1000 per number of pages. For the purposes of this article, we’re going to limit our discussion to display advertisements.

#2 Size Matters

The second factor that contributes to the cost of newspaper advertising, is size. As mentioned above, display advertisements costs are calculated based on their height in centimetres, and width in columns. Most newspapers have their own standard sized advertising spaces, which your ad needs to fit into. Some newspapers offer non-standard sized spaces, such as a ‘U’ shaped ad around the edges of an open paper, but be prepared to pay a higher price for irregular sizes and shapes.

Let’s look at the standard sizes available in The Courier Mail, as an example.

  • “Small Page Strip”, 6cm high by 7 columns wide, the minimum casual cost per day (based on a Mon-Fri Casual rate of $AU58.51) is $AU2457.42.
  • “Medium Page Strip”, 8cm high by 7 columns wide, the minimum casual cost per day is $AU3276.56.
  • “Quarter Page Strip”, 10cm high by 7 columns wide, the minimum casual cost per day is $AU4095.70.
  • “Horizontal Half Page”, 20cm high by 7 columns wide, the minimum casual cost per day is $AU8191.40.
  • “Full Page”, 38 cm high by 7 columns wide, the minimum casual cost per day is $AU15563.66.
  • “Vertical Half Page”, 38cm high by 4 columns wide, the minimum casual cost per day is $AU8893.52.
  • “Vertical Third Page”, 38cm high by 3 columns wide, the minimum casual cost per day is $AU6670.14.
  • “Vertical Quarter Page”, 38cm high by 2 columns wide, the minimum casual cost per day is $AU4446.76.
  • “Portrait Half Page”, 28cm high by 5 columns wide, the minimum casual cost per day is $AU8191.40.
  • “Portrait Third Page”, 20cm high by 4 columns wide, the minimum casual cost per day is $AU4680.80.
  • “Portrait Quarter Page”, 20cm high by 3 columns wide, the minimum casual cost per day is $AU3510.60.

Here you can see that the cost of a standard size display ad can range from at least $2457.42 per day for a small page strip, and up to at least $15563.66 per day for a full page advertisement. That’s an awful lot of money to invest in a single page, that will only be published on one day. Most of us simply don’t have that kind of cash to throw around, so you’d really need to know what you were doing. This example demonstrates how much the size of a display advertisement affects the price.

#3 Day of the Week

The third factor that contributes to the cost of a newspaper advertisement is the day of the week on which the advertisement is published. Typically, newspaper circulation is greatest on the weekends, and so the advertising rates for major Australian newspapers are adjusted accordingly. In our example of The Courier Mail, the rates are cheaper on a weekday, more expensive on a Saturday, and most expensive on a Sunday. For the most basic display ads, Saturday ads are 25% dearer than Monday – Friday ads, and Sunday ads are almost 90% dearer than Monday – Friday ads.

This pattern may vary though, depending on the circulation of a particular publication. For instance, The Age is most expensive on a Saturday. To illustrate how much of a difference it makes – a small page strip ad in The Courier Mail on a weekday would be at least $2457.42, and the exact same ad run on a Sunday would be at least $4637.64.

#4 Different Sections or Lift-Outs

Most newspapers are divided into different sections and many have lift-outs – and this is the fourth factor that determines newspaper advertising costs. Different sections attract different readers and different volumes of readers, and so the advertising rates are adjusted to reflect this. For example, an advertisement placed in the CareerOne (Employment) lift-out in The Courier Mail, costs 2% more than the general section. The rates for CareerOne, also vary depending on the day of the week, as mentioned above. Some examples of other sections that may have different rates include: Adult Services, Funeral Notices, Real Estate, and Business.

#5 Page Position Within a Section

The next factor that can significantly affect the price of a newspaper ad, is the page number on which the ad appears, within a certain section. The most expensive part of the paper is typically the front section, which might include the first 10 or so pages, and is referred to as the “early general news” or EGN for short. In our example of The Courier Mail, page 2 in the EGN section attracts a 60% loading. Similarly, the first 11 pages have at least a 50% markup. This type of loading is common practice across Australian news publications. Now let’s say we wanted to place a small page strip ad in The Courier Mail on a weekday, on page 3 in EGN, the cost would be at least $4054.74.

The first few pages and back pages of other key sections of the paper, such as Business, also attract a higher loading. For The Courier Mail, the very back page attracts a 65% markup. You can see how the page position of an advertisement can have a substantial influence on the price.

#6 Left Hand Side VS Right Hand Side

The next factor is also related to position of the ad, but relates to which side of an open newspaper the ad appears in. You might be surprised to know that, in some publications, an ad that appears on the right hand side of an open paper, will cost more than one that appears on the left hand side. This is to do with the way readers actually read a newspaper, and where their attention is focused. This factor may also be tied to the page position of an ad, and which section it appears in. For example, in The Courier Mail, for ads on pages 12 to 21, a right-hand side ad costs 5% more than a left-hand side ad.

#7 Colour VS Black and White

Another factor that substantially affects the price of a newspaper advertisement, is whether the ad features colour, and how many colours. Colour ads are more expensive than monochrome or black and white ads. Some newspapers may distinguish between multi-colour advertisements and those that only feature one added colour (called “spot colour”). For example, The Courier Mail charges 30% more for multi-colour display ads, and 20% more for ‘spot’ colour display ads. Remember, that this is combined with any positional loading.

So let’s say we wanted our small page strip ad in full colour in The Courier Mail on a weekday, on page 3, that would be calculated as: $2457.42 + 30% colour loading = $3194.65 + 65% positional loading for page 3 = $5271.17

You can see here how the cost of our ad has more than doubled after we’ve factored in the colour, and position of the ad.

#8 Annual Spend/Expenditure Commitment

Now here’s a factor that also affects the price of your newspaper ad, but this time it’s a decrease, with a catch, of course. If you have the budget, and are prepared to commit to spending a certain amount annually, usually by entering into a 12 month contract, then you may be entitled to a discount. However, the discount depends on how much you’re prepared to spend. For example, to qualify for a 4% discount on The Courier Mail’s advertising rates, you need to spend at least $38500 per year. If you’re a small business owner, chances are you’re not working with this kind of budget, so bye-bye discount.

Just in case you’re curious, businesses that annually spend at least $2.3 million with the Courier Mail, receive a 13% discount. In my opinion, this form of discounting simply highlights how biased mainstream advertising is towards big business. Where’s the discount for all the struggling small businesses? But that’s another story.

Summary:

To sum up, those 8 factors again, and how they’ll affect the cost of your ad:

  • type of ad – display VS classifieds VS inserts – rates based on different measurement units
  • size – pay more for bigger ads
  • day of the week – weekends are more expensive
  • section or lift-out – early general news (EGN) is more expensive
  • page position within a section – front pages and back pages cost more
  • left hand side VS right hand side – RHS is dearer
  • colour VS black and white – pay more for full colour
  • annual spend/expenditure commitment – get a discount if you spend up big

Now that you know what affects the price of a newspaper advertisement, you’re better prepared to decide where and how you want to spend your advertising dollar. If newspaper advertising seems beyond your budget, then it might be worth considering more cost-effective alternatives, such as online advertising.

Online Businesses From Home – Five Critical Factors That Will Secure Your Success

The home based business industry is the fastest growing industry on the planet. What you don’t often hear is that while this statistic does include some traditional network marketing business opportunities, the vast majority of these are online businesses from home. The power of the internet is undeniable, and people are starting to realize it. It’s amazing how easy it can be for average people to start up an online business from home and replace and often far exceed their previous income within a relatively short period of time. People are doing it every day. However, many more take the plunge and fail. What makes the difference? This guide will help you to consider a few critical factors in the success of most online businesses from home, and ensure that you’re one of the few who do versus the many who try, and fail.

The five critical factors that will make or break your success in online businesses from home are: Market demand, systems for leverage and duplication, training and mentorship, the integrity of the company and its leaders, and last but not least YOU!

Market Demand

A business can only survive as long as there is a demand for the product or service that is being offered. This seems like common sense, but you’ll want to be sure there will be a long term demand. If you’re looking for a get rich quick scheme, they don’t exist, so stop looking. You’ll also want to be sure that you have a product or service that is UNIQUE and can STAND ALONE apart from any business opportunity that may be associated with it. You’ll want uniqueness so that someone else doesn’t duplicate the same product and simply undercut your price (putting you quickly out of business). The stand alone aspect is important because building a business around the hype or the lifestyle that’s possible for a select few is not a sustainable model. Online businesses from home that rely on that kind of hype will not be around for very long.

Your best bet is to talk to a live person who’s involved with the opportunity you’re looking at. Ask them about the market demand, what makes the product unique, and how the product could stand alone apart from any business opportunity. Get the facts.

Systems for Leverage and Duplication

There are many advantages to running online businesses from home and you’ll want to take advantage of all of them, if possible. The most important benefits are time freedom, income potential, leveraged income potential, and residual income potential.

  • Time freedom – The internet makes it possible to have your business operating 24/7, 365 days a year. Look for systems that will help you to eventually, if not right away, be working less than 20-30 hours per week. A good goal is to be working less than 20 hours per week.
  • Income potential – Find out how much you would earn per sale, how many leads it takes on average to generate a sale, and establish how long it would take for you to replace your income and leave your current job, assuming that’s your goal. Good companies can help you do this in as little as 90 days or less.
  • Leveraged income potential – This goes hand in hand with time freedom. You’ll want to be sure there is a way for you to get paid on efforts that don’t require your time or energy. Look for things like over ride bonuses, where you get paid the same commission when someone on your team makes a sale. This way you could eventually remove yourself from the equation. Rather than having to make 10 sales per month, you train 10 people to make one sale per month, and you’re laughing. So are they, if it’s a good company. They’ll have the same leverage benefits, and everybody wins.
  • Residual income potential – Look for online businesses from home that require some kind of small monthly membership that gets paid to you when you bring new people onto your team. This way, even if nobody is making sales, you’ve got a residual income cushion that pays you every month.

Training and Mentoring

The number one reason most people fail when starting an online business from home is that the online business opportunity that they choose lacks the necessary support to make them successful. They buy in, and are left to the wolves. Be sure that you will have ongoing training, ideally from a mentor that you can work with directly. Some companies even have training that is put on by the company’s owner.

Integrity

The world of business has no place for snakes. Once upon a time you could be a slick salesman and get away with it. But people now smell that a mile away. Today’s buyer is smarter than ever, and is well aware that they are in control. Be sure that from the top down your company and its people have integrity and strength of character. Connect with a team or a mentor that you like, trust, and respect. All the rest are details, and if you’re willing to learn and be coachable, you can’t help but succeed.

YOU!

When push comes to shove, the only person that can take the actions necessary to build the life of your dreams is YOU. You have to connect to your passion, your drive, your entrepreneurial spirit, and take massive action toward your goals. Use your team to keep you accountable and give you the tools that you need. But you have to light your own fire.

Success isn’t a result of spontaneous combustion. You must set yourself on fire. ~ Arnold H. Glasow

7 Key Factors That Constitute The Best Home Business

The Internet has brought various opportunities for making money online at home. It is now increasingly common for people to want to start a home based business and earn more money to supplement their main job’s income; or to have a better work-life balance by working from home and spending more time with family.

The internet is full of home based business ideas. Some of these ideas are proven, legitimate and profitable ways to make money. However, the Internet has also been inundated by many frauds and scams that promise people instance riches overnight. It is very important for anyone wanting to start a home based business to do their research on the opportunity before they join.

It is noteworthy that an online business is no different from any other business. You have to make the investment, in terms of time, money, effort and commitment. With any home based business idea, for it to succeed, you should be prepared to learn a lot, work hard and you must have lots of patience.

So with all these home based business ideas available online, how can you decide which one is good for you? What constitutes the best home business idea or opportunity?

1. The best home based business idea is one for which you feel the most comfortable with and are passionate about. The business idea must match your interests, so that you will enjoy working on it consistently. What are your interests? What products or services would you enjoy marketing, and be confident representing? By answering these questions, you will be able to identify what is the best home business idea for you. If you are passionate about your online business and the products or services you represent, then you will easily work hard at it, and you will easily succeed.

2. The best home based business idea must be a business that gives you a repeating income and does not rely solely on your own efforts. This is called residual income, and it means that for the effort you make today, you will continue getting paid for many years to come. Home based businesses with residual income give you any opportunity to earn money through sub-affiliates. Instead of making your online wealth from 100% of your own efforts, you can make it from 1% of 100 sub-affiliates. This means that as you continue growing your business, you will be building on the amount of money you will be earning in the future from your business.

3. The best home business idea is one which gives you multiple streams of income. Some business opportunities have multiple stream of income which allows you to earn money from various streams. An example of a good online business can be a combination of several affiliate programs which are in one ‘business opportunity package’, so that by simply promoting your business, you are growing various income streams.

4. The best home based business idea is one that gives you a secure and lasting way to earn a living online such as selling a product which you can develop or upgrade over time; or simply a business opportunity is established and stable. An online business is similar to any other business – long term security is important. It is therefore advisable that you focus on home based business ideas that have long term success potential.

5. The business must suit your skills and experience. If you start a business for which you do not have the necessary skills, then you must be prepared to work hard and learn a lot quickly; otherwise you will fail. As an example, for most people starting out to make money online, affiliate programs tend to be the easiest way to start with. They have minimal investment requirements and some very good ones come with a step-by-step guide to help you start making money with the affiliate programs. As your skills and experience develops, then you can start on other more advanced ways of making money online.

6. The best home business is one for which you can have a well executed marketing plan to grow that business opportunity. How you market any business can make or break that business, so the marketing plan you have for your business – whatever it is – and how effective that marketing plan is, will determine how good your online business will be for you. How you decide to promote what you choose to do online will make the difference. Key factors will be your marketing skills as well as your budget.

7. The best home business is one for which you will commit to work on consistently to grow it. The key to making an online business succeed is to work the opportunity every day without fail, and to stick to it. A lot of people come across good online business opportunities, but most of them quit before finding financial freedom, and they jump onto the next online business opportunity. This is mainly because the internet is full of ‘business opportunities’ some of which are scams, and also, some wealth seekers think that there are some easy and quick ways to make money online. Pick a proven online business that suits your interests and experience, focus on it long enough, do not get distracted, and you’ll make money.

While you do your search for the best home based idea, assess each opportunity using the 7 factors outline above, and you will be able to identify the best opportunity for you. A home based business idea that offer you many benefits and good potential for you to earn money is what you need to look for, and then invest your total commitment and effort to make it

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