How to Negotiate Effectively

The ability to know how to negotiate — and negotiate well — is an important element of entrepreneurial success. You negotiate with vendors, with customers, with your bank or investor — practically everyone you will work with in your business. Negotiating is an integral process in business as your needs and goals differ with the other party, oftentimes in direct conflict with the other, and you both want to find mutually acceptable solution to the issue at hand. Negotiating is a complex process, and how you do it depends on your skill, attitude and style. Some are great at negotiating,

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Forming an LLC and Electing to be Taxed as an “S” Corp

If I form an LLC and elect to be taxed as a S Corp, will I be able to partake of the Self Employment Tax Savings as well as the management ease of a LLC?

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10 Online Advertising Trends that Should be Ignored

Advertising Age writer Mark Simon wrote a funny, sarcastic and brutally honest look at some of the trends in online content and advertising today. In the article entitled “Ditch the Lunatic Web Content Crazes – Beyond the Hype: The 10 Most Asinine Trends Online and Why You Should Ignore Them” he listed 10 “harebrained” trends that are most likely to fail: Virtual reality such as Second Life (I wrote about Second Life previously, though for the life of me, I really can’t make my avatar go past the Orientation stage – LOL) Phony recommendation industry such as pay per post

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How to Get Quality Links to Your Site

Links as we all know are very important on the Web. Search engines particularly Google look not only at the number of sites linking to you but also take into consideration the quality of links. Plus, search engines are now looking for natural linking patterns, and sites that show contrary are penalized. Short of sending the link-to-me-or-else-email, how do you get QUALITY links to your site? Here are some techniques , while they are no means exhaustive can give you a good start in your link building strategy: 1. Build quality content — that is first and foremost the best

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What Attracts Investors to Finance a Business

Investors are not attracted to every business there is. One of the common mistakes I see from new entrepreneurs is that they think their business can easily attract investors. In fact, some types of businesses are not “sexy enough” to get these moneyed-types to pony up for the business. Unless the investor is your Aunt Matilda or your best friend — who are basically investing in YOU and will support you whatever business you start — it is mighty hard (if not totally impossible) to get venture capitalists or angel investors interested in a daycare business. So what attracts these

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Six Essentials for Networking

Networking is one of those activities that I do not really look forward to doing, but I know I have to do because of the many benefits it can bring to a business. According to Christine Comaford-Lynch, author of the book “Rules for Renegades,” networking is actually FUN. She wrote: “Networking is about creating an extended family. It’s about developing connections, caring about people, increasing the size of your “tribe.” She gave six networking essentials: 1. Practice “Palm Up” Networking. When you network, are you giving, or grasping? Palm up networking embodies the spirit of service, of giving and wanting

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Elements of Effective Customer Service on the Web

As a business owner, it is important is to keep customers happy. Give customers what they want, and your business will thrive. As such, having a plan on how to actually provide great customer service is a must. If you are selling online, here are the elements of an effective customer service plan: Contact Us section that either provides a form to allow for easy contact or email address for contacting you — and you actually respond to it Customer service contact telephone number (better yet, a 1-800 number) located in your homepage, or even in all your pages. If

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Advertising Your Business in Print Magazines

If you are looking to advertise your business in print magazines, here are some things you need to consider: Choose the magazine that your target market reads. Make a list of magazines in your niche. Home Business Magazine is not the best magazine to advertise if you are trying to reach fashion-conscious women. Check of the magazine is audited. There are numbers — and then there are claims. In print publishing, it is important to look at third party circulation audit, which verifies independently the circulation of a magazine. Ask for those figures. It is so easy to say a

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Do It Yourself SEO

Wall Street Journal has an interesting article on how a website can improve its visibility in the search engines. The article describes the specific steps used by Bankrate.com, which any small business can easily adapt to our own websites. The suggestions include: Focus each page on one theme Know what you want visitors to do Study your traffic data for trends Make your site easy to navigate Use free tools from search engines Read the full Wall Street Journal article “Raising Your Profile: Beyond the Basics”

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Using Viral Marketing for Your Business: Lessons from Jockey.com

Online videos are all the rage nowadays; and businesses are jumping into the bandwagon. According to the research of Nielsen Company, an estimated 81 million people who access the Internet over broadband in the U.S. watch broadband video at home or at work — and growing fast. Hence, more and more businesses are harnessing the power of videos to create buzz for their products and attract a whole new demographic, mostly the younger set. One example of how a business uses online videos is Jockey’s new site StopSquirming.com http://stopsquirming.com/ . The site is a tongue-in-cheek approach that focuses on one

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Book Review: Rules for the Renegade

I’ve just received a copy of the book “Rules for Renegade: How to Make More Money, Rock Your Career and Revel in Your Individuality” by Christine Comaford-Lynch. The author has worked as a model, then turned her life 180 degrees and became a monk (!); then later shifted to become a multi-millionaire entrepreneur — definitely not the career steps of most ordinary folks. The book is a distillation of insights and tips of this author who have always defied convention and pushed the limits of being a “renegade.” The book talks extensively on the ingredients of a successful business ownership;

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How to Find Suppliers for Your Business

If you are starting a retail business, whether online or off, one of the first things you need to know is where to get the merchandise you will sell. And that means getting in contact with possible suppliers for your business. If for example you want to start a craft and greeting card store, here are places where you can find the suppliers you need for your new business: Check out the products you want to sell and contact the manufacturers. Establish a wholesale account with them though be prepared to purchase in their required quantities Attend craft tradeshows. You

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