Boost Your Business : An Expert's Tips

WONDER WHY YOU CAN’T MAKE ENDS MEET
Thursday, November 29, 2012

Careful with your finances; pay your credit cards on time to avoid interest charges? Don’t be too smug. Reflect, every time you purchase a train ticket, buy a pair of shoes or call an ambulance roughly 40 percent of the cost will have gone straight to your bank’s vaults.

According to Ellen Brown, attorney and chairman of the Public Banking Institute, bank interest charges are of a regressive nature. This means the poor are milked to satiate the rich. A public rather than a private banking sector would show a discount of up to 40 percent off everything we buy or use. This is the reason why Western capitalism’s private banking system cannot hope to challenge publicly owned banking models; it goes to war against them when it is an option.

In the 2012 edition of Occupy Money released in November, German Professor Margrit Kennedy reveals that 35 to 40 percent of everything we buy goes on bank interest. This interest is bled by bankers, financiers and bondholders. Putting it bluntly the wealth of each nation’s market place is clandestinely transferred to banks’ e-vaults without anyone being aware of it. This despite the fact that every time buyers spend 100 LVL, £100 or €100 or U.S. dollars, 40 percent of the spend is vacuumed up by the banks.

Right along the chain of supply, from wherever in the world it is sourced, those involved in getting the raw materials to retail standards are heavily dependent upon credit. Without credit they cannot produce products or services we depend on. Each in this vital chain must pay for investment, premises, labor, materials and transport, etc. This is before we find their service on the shop shelves or at the end of the telephone order. This credit is accumulative and variable.

Dr. Kennedy, who researched this spider’s web of deceit discovered that even in fiscally prudent Germany such interest adds 12 percent to the cost of refuse collection. When we receive our water bills presume an eye-watering 38 percent of the invoice value will go directly to the e-vaults of the private banking sector.

Public housing? Don’t go there! Again in ‘prudent’ Germany a breathtaking 77 percent of rentable public housing goes in private bank interest. If you are an American hesitate before you breathe a sigh of relief: compound interest on most mortgages amounts to 80 percent of what you pay for your home or business premises. Is it the home of the free? More like the home of the free ride if you are a bondholder, banker or financier.

The noted German researcher and analyst draws heavily on the findings of economist Helmut Creutz. As we might expect the researchers’ findings are based on the German economic model. If you are not a German don’t get too excited; the same system is in place throughout Europe, the United Kingdom and the United States. In the case of the latter financial sector profits comprise an incredible 40 percent of the price of whatever purchases Americans buy or use. This may go some way to explaining why 1 percent of Americans own 42 percent of the national wealth. Only 5 percent of this wealth, thank you very much, is shared between those making up 80 percent of the population.

As Ellen Brown poignantly points out the implications are stunning. If we had a financial system that transferred private bank interest back to the public purse 35 percent could be lopped off the price of everything we buy. That means we could buy three items for the price of two; our salaries would go 50 percent farther than they go today.

Is there an answer? Yes, it is coming simply because Western capitalism cannot continue to be based on a system so corruptly in favor of international banking conglomerates. They will be replaced by a public owned banking system. It is because competing trading nations have already done so that leaves Western capitalism no choice in the matter. © Michael Walsh

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12 Reasons Why Email is Superior to the Telephone
Tuesday, November 27, 2012

It is 137 years since the telephone was invented yet most businesses depend on it. Today nearly everyone is familiar with emails so here are a few tips to make yours work for your business. Make sure your advertisements, signage and promotional literature include your email and web details.

With Email

You know where your business is but can your clients find it? You can give precise directions; even attach a map to make their trip easier. They will appreciate the thought.

Emails can detail the services and prices you offer; if you own a restaurant menus can be emailed. Pre-ordering makes life easier for the kitchen staff whilst reducing your buying costs. Whatever your service you can email details; price lists and special offers.

Invite customers to leave their email addresses. That way you can inform them of special offers; price reductions; entertainment engagements, holidays, opening and closing times.

We have all heard the expression; people don’t buy products they buy people. It is true. Pictures of your premises, staff; interior, can be sent to enquirers. This will help them to bond with your business. Think of customers as partners in your business.

If you hold events, moving address, taking on a new manager, booking an event, email can be used to inform your customers.

Your email message offers opportunity for you to place a ‘signature’; a permanent sales message on every memo you send.

Invite customers to comment on your services. These can later be included in emails to reassure new clients. They are good for inviting suggestions too. Imagine, a free mystery shopping opportunity to give your business the vital edge.

You have some good news? Tell your customers; promotions, awards, and very important key selling points that identify your business as being perfect for their needs.

If a member of a trade association or body its logo and details can be permanently included in your emails too.

If it is appropriate places of local interest can be included. You can also invite visitors to browse complementary businesses whose owners will be happy to link with your website.

When the phone rings you are obliged to answer it even if it is inconvenient for you to do so. Similarly you might have to get your timing right when making calls even though it interrupts your routine. Unlike the telephone call emails can be sent and replied to at your convenience.

Unlike the telephone the email does not cost anything to use; contrasting the costly inconvenience of postal deliveries (snail mail) the email can effortlessly handle bulk information without bumping up the cost of sending it.

www.michaelwalsh.es

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DON’T BUY THEM, WRITE THEM
Saturday, November 24, 2012

Why don’t you write a book? No, I am not in the wrong blog. I am talking to you, Mr. Businessman. If you visit Waterstones, W. H. Smiths; any good book stores, you will find the Business Books section to be of impressive size. Likely you will find a hundred or more titles. Many of these will be advisory and a fair proportion will be based on sales and marketing.

Are they good value for money? In my opinion most of them aren’t unless you are the author. This is the reason why many business books, and those on other topics, are not written by people with experience in the field. Many are authored by charlatans who couldn’t sell sweets to a starving kid. They have the theory and they sell it. Yes, this is fine until you try putting it into practice. They do have the savvy to make money from writing books. Now that is a lesson they could teach you.

There are gems to be found on bookcases. When I had a use for them, before I retired, I had a very good business library. Without a shadow of doubt several of these books introduced me to tricks of the selling trade that worked wonderfully well. They were written by professionals who knew how to communicate and how to make money.I would fork out as little as £5.95 and as a consequence I learnt tricks that over the years brought that small investment back a thousand times over. That is what I call good business practice.

If you have experience then what you have between your ears could be making someone a shed full of money. If you put that expertise and advice between the covers of your book it could be you making a shed full of money for you too. It doesn’t have to be a blockbuster. It can be a ‘paperback size ‘How To’ booklet by which you provide a condensed introduction and tips manual for the newcomer, amateurs or these merely interested in what you used to do for a living.

The world is your oyster; you will have picked up skills in the University of Life you attended. What might they be; security alarms and surveillance, private detective work, sales and marketing, retailing, nursing, leisure pursuits, collecting antiques, teaching; the list is endless as it is fascinating.

Take a look at my Writer’s World blog and scroll down to When Size Does Matter. There you will find a splendid introduction to the mechanics and costs incurred – and profits to be expected, from writing the kind of business book we have in mind. It isn’t difficult. I penned The Business Booster in a week or so fifteen years ago. It is still relevant and marketable. If you hit the marketing G-Spot you could even make more money out of selling your experience than you did in acquiring it. If you need it ghost-written then run it or the idea past me.

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IT IS NOT THE RECESSION
Monday, November 19, 2012

Complacency and indifference towards customers does more harm to business than does the recession. There are too many business amateurs on the Costas. The CEO of an American automotive conglomerate couldn’t figure out his company’s poor sales against those of the Japanese competition. The U.S. made cars were as good value as were the Japanese cars. What was going wrong?

Enlisting a few staff he instructed half to visit the company’s main dealerships as undercover customers. The others were delegated to visit competitors’ showrooms. Their feedback forms asked simple questions. Their purpose was to test dealership sales staff competence and attitudes towards potential buyers. The CEO’s worst fears were realized when he looked at the results. Complacency ruled: his company’s so called salesmen couldn’t sell sweets to a starving child. The Japanese sales staff was 100% professional.

Most clients, you included, pass rival businesses to reach one where customer service is more than a cliché. The staff are courteous, knowledgeable, pleasant; they listen and gave you what you want, not what they want to sell you.Stop and think how many businesses you no longer visit, not because the price or product is poor but because you were victim of poor attitudes. I can think of several. One is a shop that sells and repairs computers; their products are similar to those of rivals. The difference is attitude; they sure have attitude.

The computer to me is what the car is to a cab driver; it is my living. Deprived of it I am unemployed and my customers inconvenienced. Needing my laptop serviced I asked if it could be dealt with that day. Although a regular customer I wasn’t asking for priority or favoritism. The response: “We’re like a petrol station; customers join the queue; you’re in it.”

I took my laptop to a rival and spent €150 on a re-install, printer and accessories. I later spent nearly €500 with a more customer savvy rival, who I now recommend. The sad truth is that when some businesses go bust it is self-inflicted. They have some product knowledge but zilch customer empathy. They would benefit from a short course in customer relations and salesmanship.

I was in sales and sales management training for over thirty-five years; I was good. No, I won’t be providing courses: you see those who need them think they don’t. When they go bust they will of course blame the recession.

www.michaelwalsh.es

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DON’T SUBSIDISE BIG BUSINESS
Saturday, November 17, 2012

Small businesses take the brunt of unpaid invoices. An irony is that worst offenders are the fat cats . In my experience many larger companies are built on unpaid invoices; small businesses financed them. I know it is hard to set the conditions before accepting a new order. The last thing you want is to show ingratitude by questioning willingness or ability to pay. It is harder to suffer the loss when made to chase, wait or be denied payment. Do larger companies keep the utilities waiting? You bet they don’t.

Your business profits should be sufficient for you to absorb the occasional bad debt. You will get those anyway. No one can foresee a good customer running out of funds because his customer has gone tits up. Most of those that abuse your trust are not in that category. They make sure they won’t either by not paying their bills or delaying payment. Think about it: a large company typically has supplier debts of €500,000. If their policy is to cough up every six months their business is based on a €500,000 interest free loan and your business is their bank. That is why they do it.

If a new client is genuine and your service is what they want they will not take umbrage. They will respect you if you politely point out that your advisor or accountant insists on pre-payment for the first three orders. If they object they were no damned good anyway. I am fortunate as, unlike many trades, my clients tend to be appreciative and honest. Not a bad record as I work and then invoice on completion of sections. I can recall only one , D. Healy, who let me down until I re-located to the Costa del Sol. I was there for just seven months and here’s the unhappy record.

He is a millionaire several times over. He boasted he had made his pile as the best timeshare crook in Spain. He now makes money through a business advising scammed timeshare customers; many unwittingly his. He took me for €80.
A client boasted that he was one of Britain’s most notorious gangsters and in that respect were telling the truth. He went into hiding when I called for the €100 he owed me.
A Marbella / Liverpool burial plots business that implored me to tidy up their hapless company stationary. They took me for €75.
A lady property owner who, limited to a €300 withdrawal from a cash point when payment was due, promised faithfully the €150 balance was as good as in the post. I am still waiting.
A millionaire whose book I was working on. Nearly completed he owed about €300. He asked me to send the completed MSS, adding he would pay on receipt. That was 12 months ago. I am still waiting.
A client who presumed that a romantic relationship came with the deal: no thanks.
A client who offered a deal in return for press releases provided. I soon learnt it was a one-way deal, in their favour.
Several firm promises none of which came to anything.

Only one business and one private individual paid up-front or on the nail; the latter was an Indian gentleman. Be wise before your hurt, not after it.

www.michaelwalsh.es

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GRAVE CRISIS
Friday, November 2, 2012

Unable to access funds from conventional sources many firms are transferring their debts to suppliers by delaying or refusing to pay invoices. The phenomenon has led to a revolution in business practice. Suppliers now demand cash or payment upfront.

Business expert and copywriter Michael Walsh says the tipping point for him was a Costa del Company trading under the name Woodland Burial Park, with an address in Liverpool and Sevenoaks, Kent. The company’s specialises in burial plots; its James Everett failed to respond to requests for payment.

Approached and implored to remedy poor content of marketing material the copywriter / journalist turned the work around. It was then the company turned him over by reneging on his modest invoice. The disgruntled service provider say; “it’s the final straw. Too many businesses are sheltering behind the high cost of debt recovery. They know that this is a greater burden than writing a debt off.”

The supplier says the irony is the worst offenders are those who aren’t in financial difficulty, but making sure they won’t be. These maverick businesses in essence are being funded by unpaid debts.

His advice to small traders and SMEs is to stick to their guns; refuse to work unless a sizable deposit or payment in full is made. The policy can be modified when a trusting relationship has been established.

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