Tag: Profit

  • The Real Reason Why Small Businesses Can’t Get Approved for a Loan

    The Real Reason Why Small Businesses Can’t Get Approved for a Loan

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    Oh no, not again. Yes, that’s right, I’m not going to go there… at least not for today. There’s no shortage of excuses and reasons why small businesses can’t get approved for business loans. It never fails to amaze me the coverage this topic gets especially when the national economy goes into recession or when major political races are at stake. Yes, I agree that small business growth and success is the economic back bone of the US and also, that more than 60% of the US workforce are employed by small businesses. But where I get off the group think is when it comes to the lack of financing for a small business with a business loan. In this article, let’s explore the REAL REASON that small business don’t qualify for loans and the truth may even surprise you.

    It’s Deeper Than Statistics

    I love numbers and even better, I love reading financial statements and the notes. The love for numbers did not become a passion for me in the world of small business lending until I came to understand that the financial statements tell the story of a business. Similar to the story behind the financial statements, there’s a story behind the statistics stating that small business owners can’t get approved for loans especially if they’re of a certain ethnic group, gender, and / or industry. I’m not completely washing away the reality that there’s a shred of discrimination in our world… hey, we live in a broken society with broken people. However, a large part of this thinking (small business owners can’t get a loan because of skin color, gender, etc) is just simply untrue. I’ve been on both sides of the fence so to speak in the world of small business lending. I’ve worked for a big bank, and I’ve worked for a not for profit community development financial institution and it’s always the same. The number one reason why small business can’t (and don’t) get approved for loans is due to the considerably large operating risk that exists in these businesses.

    Operating Risk: It All Starts with You

    What does operating risk mean? Well, here’s a question to bring some clarity. What speaks more to sustainability: a business that’s been operating for at least one year or a business that’s still in the owner(s) mind? I’d go with the first option. Operating risk means that you have and continue to execute on your business plan(s) and that the business is cash flow positive (i.e. returning a sustainable profit margin to cover costs and make you money). Here’s the sad truth: not many small businesses get to this point. Most if any, within two years are still trying to figure things out. OK, granted, there are levels to this particularly when you observe the diversity of businesses. However, I’m speaking to the ones that endeavor to obtain a business loan.

    In closing, I offer a couple of ways to minimize your operating risk and increase your chances of getting approved for a loan. (1) Grow tough skin and learn to survive. The game of business is one of survival. Most days, things will not go your way and you just have to stay the course, be adaptable, and stay true to the business mission. (2) Never forget the 3 P’s – Production, Processes, and Personnel. Become efficient in the production of what you offer for sale, create and put in place processes to enhance production efficiency and ultimately the customer experience, and finally, hire, train, and invest in people who share your vision for the business.

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    Source by Pierre Pinkerton

    Views: 1

  • How To Tell If Someone Is An Entrepreneur

    How To Tell If Someone Is An Entrepreneur

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    One thing defines an entrepreneur – constructive action.

    Typically, they’re the salesman – doing *everything* to get people to buy their stuff. We all have the image in our heads; the “wheeler-dealer”, picking any opportunity to try and exploit (and other people) for profit.

    Indeed, the term “entrepreneur” seems to have drifted around the present lexicon – from “something you did” (typically to improve people’s lives) into a blend of “money mad hustler” and “someone who doesn’t ‘follow the rules’”.

    The reality is the modern meaning could not be further from the truth.

    Entrepreneurship isn’t a vocation or job. It’s not a label which you apply to yourself in order to make yourself more endearing to a particular party, or clientele… it’s a way of doing things.

    Many “entrepreneurial” types actually have jobs. They’ll never admit they are “entrepreneurs”, although they exhibit all the traits of one. The question is what these traits are, and whether you – or someone you know – has them.

    What Is An “Entrepeneur”?

    Entrepreneur is a word derived from French – loosely describing a “problem solver”.

    Whilst its connotation has changed over the years, the premise persists – an “entrepreneur” is someone who creates a “widget” and has the ability to encourage other people to buy it.

    What this “widget” is can be a commercial product, service or idea.

    It’s actually interesting… some of the greatest “entrepreneurs” of history actually had nothing to do with money. They were completely focused on the development of a particular “result” and committed themselves whole-heartedly to its realization.

    Whether this meant conquering the Persian empire (Alexander), developing the light bulb (Edison) or creating stable PC systems (Gary Kildall), conquering the Aztec empire (Cortez), the term “entrepreneur” really denotes someone who wants to build something.

    The BIG difference between “original” entrepreneurs and the swathes of new-age idiots (who typically aggrandize a hedonistic lifestyle + seem to have an infatuation for “crypto”) is that the former were typically committed to a single profession, and manage to “leverage” that through the development of increasingly ambitious “projects”.

    These projects could be anything… but they all had a core “reason” to exist. This reason was what drove the originator to pursue the endeavour, and continue even when it was questionable whether it was even “possible” or not. Obviously, the reason we remember them is that they not only discovered it was “possible”, but entirely feasible… hence their success.

    How To Tell If Someone Is One

    The typical sign is they will do strange things…

    • interest in esoteric ideas
    • pursuit of interests not directly correlated to the accumulation of wealth
    • strong displays of passion for particular subjects
    • immersive nature with different ideas (trying to recreate historical events etc)

    The point is that REAL entrepreneurs are not typically concerned about money at all.

    Their primary concern is the creation of a “thing”. What that thing is, is determined by either their character or interests… but in every instance of someone who’s achieved a large amount of success, they were completely and utterly focused on doing “their” thing no matter what.

    This is actually important.

    The modern world seems to have every 18 year old male wanting to be an “entrepreneur” – like it’s a badge of honour or something. If you’re not “growing”, you’re “dying”… right?

    The truth is that our society has become so focused on convenience that the majority of these money-grabbing idiots have absolutely no business even considering themselves “entrepreneurs”.

    They have no experience, no skills and are only latching onto the latest “fad” in order to escape the mediocrity which has come to pervade the West’s consumerist culture.

    Entrepreneurship typically follows YEARS of interest in a particular subject. It typically follows HUGE investments of time & energy into the cultivation of a skill set, experience and “involvement” in a particular space.

    Most importantly – entrepreneurship is about doing something “your way”.

    Stay Clear Of Modern Idiots

    The BIGGEST problem I continually see from the hoards of idiots is they are ALL following a “book” or some other “rules” on “how” to be an entrepreneur.

    I see it all the time… guys reading all the biographies, neural studies, latest books from the big wealthy fat cat – all trying to discover the “secret” to massive success.

    What’s ironic is that all of this stuff just works on the “outside” of the issue – the same people who read all the “stuff” end up with the SAME questions… “what do I sell?”- “how do I know if I’m going to make money on a product?” – “what’s the secret to getting rich?”.

    • If you have to ask “what do I sell”, you’re not an entrepreneur.
    • If you have to listen to what a “successful” person has to say on a subject, you’re not an entrepreneur.
    • If you have to consider all the “rules” put forward by others, you’re not an entrepreneur.

    The point is that the modern world is chock-full of wannabe losers. Even the “successful” ones aren’t actually truly successful – they may have made a bunch of money, but what did they actually achieve? The answer is relatively little (or even nothing).

    The truth is that if you want to “be” an entrepreneur, you have to get to work.

    EVERYBODY has their own work. Some are models. Some are footballers. Some are computer programmers. Some are painters.

    The “trick” is to do ANYTHING in order to get moving forward in an industry; clean the floors if necessary.

    Once you start to gain some progress, the “entrepreneurial” stuff comes from leveraging any progress made within it – either to create & market a product, or to help a market better appreciate the potential of another device/product.

    Traits Of “Real” Entrepreneurs

    • Quiet (or at least reserved)
    • Fully capable of embracing failure (indeed, using it as a spur to change/adapt)
    • Working constantly on different elements within their “industry” (again, everyone has a place)
    • Unafraid of social constructs (just because someone said it doesn’t make it true)
    • Laser focused on what “they” want to do (you want to bring sustainable farming to Africa? This is the type of thing a “real” entrepreneur will actually do)
    • Unafraid to give freely (most “entrepreneur” types are not attached to money at all… typically not having much until they find mercantile success)

    If you haven’t worked it out, the core is purpose.

    The modern world has very little emphasis on purpose; rather it focuses on productivity.

    Nothing wrong with this, but it devoids most people of their passion. It’s good for GDP and McDonald’s – but bad for the creativity lying latent within a large number of people.

    If you want to adopt “entrepreneurial” traits, the key is to become attuned to a particular “purpose” – through which you’re able to invest your entire life.

    If you’re just looking at Ferrari’s and thinking that you “kind of want to become rich” – entrepreneurship is not going to do that. It’s a very difficult road, with only the most persistent and enduring surviving.

    You need to get to work, and only then will you discover hidden opportunities into which you’re able to apply your expertise, experience or network to build something of real value to the world. This real value is then absorbed by the market, who’ll either pay handsomly for it – or reject it. This is pretty-much what determines whether someone could be considered an “entrepreneur” or not.

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    Source by Richard Peck

    Views: 0

  • Exploring The Forex Trading System

    Exploring The Forex Trading System

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    Most people are familiar with the most basic form of Foreign Exchange Trading. They know that when you travel abroad, one of the first things you do after disembarking is to find the nearest place for currency exchange. Depending on the country you call home and the country you are visiting, currency exchange will leave you either richer or poorer based on the exchange rate.

    Nowadays however, Foreign Exchange Trading, or Forex, has taken on another meaning. If you hear two people excitedly chatting about Forex in an elevator or coffee shop, they are most likely referring to a type of investment trading that is growing in both popularity and esteem.

    How It Works

    Basically, Forex trading is how investment traders speculate regarding the trends and fluctuations in currencies. If a trader is able to stay on top of trends and accurately predict the disparities between pairs of currency values, they can make considerable profits through Forex trading.

    For instance, the USD (US Dollar) and EUR (Euro) is a very commonly traded currency pair. If you had reason to believe that the USD will drop in value compared to the EUR then you would “go long” and purchase EUR/USD. If, on the other hand, you predict that the USD will rise in value, then your reaction would be to “go short”. Of course, this is just a very basic example of the principles of Forex; experienced traders keep track of many different currency pairs simultaneously using Forex Trading Systems.

    All foreign exchange trading is done through a Forex broker. These brokers handle the trades and place them on the open market by networking with banks. Because of the fluctuating nature of currency exchange, Forex is a very dynamic form of investment trading. Also, unlike the international stock market, Forex is open throughout the day. The primary reason people engage in Forex is, of course, to make a profit. However, many are motivated to stick with it because of its thrilling nature.

    Best Strategies for Up-and-Coming Traders

    Although many people are able to supplement their incomes through Forex, it is by no means a quick and easy way to get rich. Using the Forex Trading System correctly takes time, experience, and patience. Those who are new to a Forex Trading System will need to spend time getting familiar with the jargon and tuning into ever-changing currency trends. Some general tips for newcomers to the Forex scene include:

    Select a Forex Trading System that accommodates and adapts to the dynamic nature of the market. If you are using a software package to manage your trades, you will be best served by a program that keeps pace with the lightning fast changes that occur in currency trading. There is also a lot to be said for software that has a clear, easily understood format so you aren’t struggling to keep track of what’s happening in the market.

    When you first dip your toes into the world of Forex, a good rule of thumb is “less is more”. This means that you should start small with your trading and build up slowly from there based on your successes. For instance, focus your initial efforts on a single currency pair and use that experience to inform future trades. Along those same lines, don’t use the maximum amount of leverage when you are new to Forex; that’s a sure-fire way to rapidly accumulate losses. Instead, begin with small leverage ratios and gradually increase as you become more experienced.

    If you really want to stay on top of trades and trends, you will need to use a Forex Trading System that will send you messages regularly. This will allow you to immediately take advantage of trends and reap the financial benefits.

    Most Forex brokers allow you to use a trading demo to get some practice before actually investing any money. Take advantage of these demos as they can give you a feel for currency trading in a risk-free environment.

    Foreign Exchange Trading can be difficult to master, but with a level head, an effective Forex Trading System, and patience, you will be rewarded for your efforts.

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    Source by Tiffany M. White

    Views: 0

  • Advanced Affiliate Marketing Techniques

    Advanced Affiliate Marketing Techniques

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    When choosing affiliate products to promote with your Internet marketing business, you want to pick products that cost more so that you make a higher commission per sale.

    But you also want to have a whole range of products at different price points so you can keep people buying no matter how much or how little money they have.

    For example, let's say you pick self-help as your niche. You should have a bunch of products that cost less than $ 10 – such as eBooks or video courses – because a lot of people seeking to improve themselves don't have a lot of money but still want to buy something that will make them better people.

    The 'Profit Ladder'

    Then you should have more expensive products in the $ 10 to $ 100 range so that you can offer them to people with more money to spend and also push your customers up the profit ladder. That means getting people to buy increasingly expensive products.

    Then you should have some products that are really expensive, such as those that cost $ 1,000 or more. This is to appeal to people who have a lot of money to spend but also to have a big money offer that people can aspire to. A lot of times these types of products are things like personal coaching, or seminars people can attend to become masters at whatever it is they want.

    Big money products not only satisfy people's desire to get the best there is, but also provide you with the biggest commissions so you can make the most money even if you only make a few sales.

    Niche Statistics

    Popularity of Niches

    Before you start promoting affiliate products, you want to make sure the products or the niches you choose to work in are popular. You don't want to waste your time working in niches that there aren't a lot of customers. Instead, maximize your potential revenues by only working in the best niches that have scads of customers.

    So how do you find out what niches are popular? Like anything else these days, you simply use the internet. There are plenty of places you can go to measure the popularity of a particular niche. The first place I always recommend is Google Hot Trends which lists the top 100 searches on Google during the previous 25 minutes.

    Researching Niche Statistics Online

    Google is the largest search engine and is used by more people than any other, so it is a reliable source to tell you what is hot at the present moment. Another site is Yahoo Buzz, which shows also shows the top searches but on Yahoo, which uses the Bing search engine. But Yahoo Buzz also gives a little more information than Google.

    Two other similar sites are Trend Hunter and Trend Watching. These are more geared toward consumer goods, such as electronics, appliances and other hard goods rather than digital products, which are what you probably will be promoting.

    Sources for Niche Data

    ClickBank has a lot of information about the products it offers. A similar site that also has lot of data you can use to measure popularity is Commission Junction.

    With the affiliate products you promote on ClickBank and Commission Junction, you make a commission every time somebody clicks through and buys that product.

    'Cost Per Action'

    But another affiliate model is called "Cost Per Action". This is slightly different because you can get paid every time somebody clicks through to a page whether they buy anything or not. Obviously, the CPA amount you are paid is usually less than that of a sales commission, but a lot of CPA click-throughs can quickly add up and make you some real money.

    CPA networks for you go check out include Peerfly.com, ShareASale.com, GoOffers.net and CPALed.com.

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    Source by Sohan Miah

    Views: 0

  • Premium Email Marketing Tools For Business

    Premium Email Marketing Tools For Business

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    Email marketing is one of the ways to boost your business. Social media has become a platform for promoting trade, and email marketing help in that. Email marketing can be used to improve your services and app. "Email marketing is using the specific tools to send your advertising emails to a group of people." Its one of the easiest ways to make money. Marketers can send a targeted message to the intended group. Data regarding customer needs, products are, and then emails are sent to the specific customers. By email, the business can promote their services, offers and what new they have to offer. Transactional email, Direct email, Mobile email are the ways by which email marketing is done.

    This is the cost-effective way, and it is cheaper as compared to others. Target customers are easy to reach within no time and as they are aware of the new things what business has to offer for them. Subscribers get the latest news and offer from the advertiser.

    INSIGHTS ON THE TOOLS

    There are various tools which help in marketing and making business an edge in the market.

    Let's take a view at some of them

    CAMPAIGN MONITOR is a template builder tool, and it assures that email can be read easily on mobile, so that customer or client miss no email. Like Google, Yahoo or any other email platform its uses the same interface so that the things don't get complex. You can upload HTML template and can format and edit when in need. Autoresponder can set only, and data segmentation ensures, that the email gets deliver only to the intended clients. Basic and Unlimited are the two packages which this tool offer.

    VERTICAL RESPONSE helps to connect email campaigns to social sites like Twitter, LinkedIn, Facebook. It helps to communicate with a large number of audience. With the help of email building wizard, you can build your advertising drive and by freeform HTML customize it to make your list for company. You can use only text no images, and other statistics are required. Up to 4,000 emails can be sent per month.

    BENCHMARK key feature is that it offers multiple templates for greetings, promotions and many other events. You can use HTML AND CSS to give it a personalized look. With the built-in spam filter, you can check for objectionable material in your templates. They even have a community where you can provide your views and design. Packages are there and start with 600 emails and increases further.

    CAMPAIGNER tool has a lot to offer. It has more than 500 templates which are categorized as industry types and need. Contact management tool is one of the efficient features which it provides, where you can import your contact from the list. Un-subscribed email is automatically removed. In a way, this tool simplifies everything and give more than marketing. You can give a try with the free 30-day trial offer.

    MIL CHIMP allows you to take surveys and send it to people to know the opinion of them. Use of survey techniques in social media makes the most out of your advertising techniques. You have the option to customize your list and know who has received the mail or not and will also come to understand that which campaign has received the maximum clicks. It offers the free subscription for 2000 subscribers.

    GET RESPONSE This tool lets you efficiently maintain your contact list. You can edit your contact list. This tool track and lets you know who have subscribed, unsubscribed and clicked on links. It also gives you a report in pie and chart form and informs you about the mail it got delivered or not. Different packages are offered depending on the need.

    LEAD PAGES helps you to create interactive landing pages for your sites where you have a choice to choose from 50 templates. They are in sync with best email providers. Business can make a mark within no time. Various packages are there for customers. Lead pages can efficiently transform your business quickly.

    MAD MIMI Saves your time; you can clone your previous ad campaigns and make the changes according to your need. Old drives can be used in a way and if delete you can undo it also. The detailing features provide you with the information about the number of emails opened, shared, and how many people clicked on the link. By integrating with Google Analytics, it provides the statistics and clicks targeting.

    CONSTANT CONTACT Offers you several templates and lets you customize your own. It gives you the detailed report regarding the links and emails. Share on social media like Twitter, Facebook, LinkedIn can boost your business and gives your site the heavy traffic.

    TOUT APP is the best regarding functionality and features. It has a large variety of templates to choose from. Integration with CRM gives you the details of every email, how they are proceeding. It provides the transparency, and produce reports on which emails have been clicked, deleted, attachment seen or not. In short, it gives the detailing of each activity going on. This helps you to track your business and changes can be made accordingly as it keeps you aware of every situation.

    Email marketing is one of the efficient marketing techniques to promote your services. Effective marketing can give you the higher sales for the business. In this competitive era, the company should be at the prominent methods to attract the audience and make a profit. Sending manual emails to a group of people is a complex task, and it is time-consuming. To save your time and get the desired result email marketing can help you to reach the heights. For any business to succeed the market should be analyzed considering the loss also. It's not necessary that by adopting email marketing, you will always get the positive result.

    By proper study and the knowledge of audience can make your business flourish in the market. So opt for this services and let your business boom in the market.

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    Source by Anjali Shukla

    Views: 0

  • Successful Entrepreneurship – Cracking the Code

    Successful Entrepreneurship – Cracking the Code

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    We've heard stories of penniless immigrants who came to Canada with nothing but a dream, but within a single generation accumulate a lot of wealth. How do they do it?

    This is a mystery to the typical person who graduates with a post-secondary education and goes on to work in the labor force as an employee (ie, most people!). This is because our educational system specifically trains its students to become employees rather than entrepreneurs.

    So when we hear about these rags to riches stories, we ask ourselves – "how did they do it?" As someone who grew up in an entrepreneurial household, here is my take on Cracking the Code to Successful Entrepreneurship:

    1. In most cases, one will never become truly financially independent working as an employee. Whether you are an entry-level bookkeeper or the CEO of a large organization, you can be unexpectedly fired at a whim by whoever you report to. You are therefore susceptible to financial catastrophe.

    2. Therefore, the only way to achieve financial independence is to build and maintain a successful business.

    3. There is a "magic formula" that will allow to evaluate a businesses' odds of success:

    [( Sale price of product – Variable cost of product) x Units sold] – Fixed Overhead Costs = Profit

    This formula will be very familiar to accountants – it's called the Contribution Margin Ratio.

    Let's demonstrate this formula using a Bubble Tea business. Wonder why there are so many Bubble Tea shops in Toronto? Because they make a heck of a lot of money with little risk:

    Price per bubble tea drink – $ 4.00

    Cost to make per drink (water, powder, sugar) – $ 0.50

    Drink sales per month assuming 100 sold per day – 3,000

    Monthly rent for shop – $ 3,000

    · Assume no labor costs – in the early years, the owners will work the shop themselves

    · [($ 4.00 – $ 0.50) x 3,000] = $ 10,500 in sales

    · Profit after paying rent: $ 10,500 – $ 3,000 = $ 7,500

    Once you apply this formula to the multinational soft drink companies to analyze their beverage businesses, you can begin to understand why soft-drinks companies have grown from humble beginnings to global companies they are today.

    You can also use this formula to evaluate almost any small business you might be thinking of getting into: restaurant, nail salon, hair salon. You should quickly realize that it's best to choose businesses with a high profit margin (ie, high selling price for produce / service and low cost of supplying the product / service) and high customer traffic (ie, units sold, people serviced).

    Seeing the Future – Cash Flow Projection

    You want to know if you'll be making a profit before going any further. If you skip this step, your chances of failing increase significantly.

    Investigate your costs to start up and run your business. The most common are:

    · Rent – how much will it cost to rent at the location where you want to set up?

    · Wages and payroll tax – will you need employees or can your run the business yourself? How much do you need to pay yourself to meet your personal living costs?

    · Advertising costs – what types of advertising will you use – TV, radio, internet – and what is their cost versus their potential return on investment?

    · Cost of inventory or raw materials – will these be imported? If yes, you'll need to factor in the impact of exchange rates on your profitability.

    · Purchase of equipment – general office equipment like a phone system, computers and IT network, and furniture, as well as specialized equipment for your specific line of business like restaurant equipment (if you're opening up a restaurant).

    · Business liability insurance – to protect yourself from liability if someone is inadvertently harmed by your product or service, or if someone is injured on your premises.

    · Pricing – how much will you be able to sell your product or service so that's it's competitive with others in your line of business

    Once you've figured out your monthly costs (ie, your overhead) and pricing, you're now in the position to determine how many unit sales you need to make to breakeven – remember the Contribution Margin Ratio that we looked at. Use a spreadsheet to build a cash-flow projection model.

    Protecting Yourself – Creditor Proofing

    If things don't work out for your business you could be financially ruined. Therefore, consider the following techniques to protect your personal assets from your business creditors.

    1. Incorporate the business. This will provide you with a level of creditor protection – most of a corporation's obligations are limited to its assets so this structure can provide protection for personal assets. This structure also has income tax benefits, which will not be discussed here.

    2. Always pay statutory debt on time, specifically:

    · Payroll source deductions;

    · Federal and provincial sales tax collected; and

    · Employee wages and vacation payable.

    Corporate directors can be personally responsible for these debts, notwithstanding that the business is incorporated. In many incorporated small businesses, the shareholder (ie, the business owner) and director are the same person.

    3. If you can, avoid giving personal guarantees of your corporation's business obligations (eg, landlord, suppliers) unless it is absolutely necessary.

    You will need a financial expert on your team to deal with the issues raised in this article. Therefore, I would strongly advise that you contact a CPA who can help you further.

    For all you aspiring entrepreneurs out there, I hope that I've helped take out some of the "mystery" behind successful entrepreneurship. Use this tool wisely and never stop dreaming!

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    Source by Victor Fong

    Views: 0

  • Bottom Up Multi Level Marketing Structures That Work

    Bottom Up Multi Level Marketing Structures That Work

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    Feeding a Multi Level Marketing business is incredibly difficult in today’s world. There are many factors that stand in the way of creating a highly profitable home based business with the network marketing model. Traditionally people have faced the fear that the look of a typical multi-level marketing business is very pyramid like. I have always been able to see how network marketing is not a pyramid business. The results vary based on the individuals. People are the factor that add to the success or failure of an online business.

    There is a change that needs to occur in the mentality of the person trying to build their network. People that go out only looking for the profit will soon find that they are broke. We are in a society that demands value. People are not likely do drop a lot of money into a home based business unless they know they are going to make money back. How do we do this as multi-level marketers when traditionally the bottom 60 percent of people in an MLM don’t make any money?

    The answer lies in the question. With many newer multi-level marketing businesses there are team bonuses, and match bonuses. These are incentives to the leaders to ensure that their bottom people are starting to see money. This is accomplished by the leaders getting down to their bottom line and finding out what they need to ensure success. People want to succeed in MLM, but most people do not know how to recruit! The upline people’s job is to help these people get their first sign ups, and then that puts the people on a positive path. With team bonuses and match bonuses it is important to ensure the success of people further down.

    Network Marketers that work in this fashion find two things. First they find that they gain more team building bonuses. Second they will find that these people nearer the bottom start to make some money and want to learn how to help the people below them!

    When you take the time to help someone succeed, you will find that they will want to repay that favor. This is where the expert network marketer can shine. Passing on how to properly invite people, and teaching them how to talk to the people after and get them to sign up will go much further than just constantly recruiting more people.

    In the end, taking the time to help, and to nurture your bottom line people will pay off huge dividends. People that are coached and rewarded for small successes will learn more and soon your level of success will surpass your wildest dreams!

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    Source by Paul Harvie

    Views: 0

  • Understanding Young Living: Can You Really Make Money With Young Living?

    Understanding Young Living: Can You Really Make Money With Young Living?

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    Young Living is a Muli-Level Marketing company founded in 1993 offering essential oils and other related products. Additionally, they offer a business or income opportunity for those interested in marketing the company or their products to make an income stream. Something I think is neat is Young Living also has a non-profit organization that helps communities and families in impoverished areas in Ecuador, Croatia, and Uganda.

    The Thing:

    Young Living has a ton of products available based around essential oils. Some of the items they offer are Aroma Oils, Massage Oils, Diffusers, Oral Care Products, Healthy Cooking Oils, Animal Care Oils, Home Purification Oils, and of course accessories to carry your oils.

    1. Idaho Blue Spruce – This oil is designed to relax both mind and body and sells Retail value for $37.83.
    2. Animal Shampoo – No Kidding. This product contains several different oils including YLTG oil formulated by D. Gary Young and sells Retail Value for $20.72.
    3. Thieves Fresh Essence Mouthwash – This mouthwash is designed to thoroughly clean your mouth and comes in Spearmint and Peppermint flavor, selling 8 oz Retail Value for $14.47.

    It’s important to note, Young Living offers several different types of products! The categories of products and actual product in which I explained are far from all Young Living has to offer!

    The Opportunity:

    The question still remains; can you really make money with Young Living? In order to answer this question, we must look into their compensation plan!

    There are 3 Main payouts for people affiliated with Young Living such as Fast Start Bonus, Start Living Bonus, and Retail Earnings.

    1. Fast Start Bonus – You can earn 25% on your first-level personally enrolled distributors’ orders during the first three months of being a member. You can also earn an additional 10% on your second-level personally enrolled distributors’ orders.
    2. Start Living Bonus – Each time you enroll a distributor with a Premium Starter Kit, you can earn a one-time $25 cash bonus.
    3. Retail Earnings – With this payout you’ll be able to earn the 24% difference between the Retail and Wholesale price for the orders of your personally enrolled retail customers.

    To Conclude, Yes, You Can Make Money With Young Living!

    The Cost:

    For some, this is the most important question that has to be answered before even considering joining this business! I would be more than happy to be the provider of that answer!

    But first, understand that if you want to get involved with Young Living and begin making money, what you are doing is opening up your own business from home! All businesses require some type of start-up fee! However, in the world of Multi-Level Marketing, the price is generally much cheaper in comparison to a traditional type company. For example, in a traditional type business, such as Construction, you could spend around $5,000 to $10,000 just getting the thing started! In this industry, you likely will spend far less than that! Since we have been able to get that understood, let’s move on.

    In order to become involved and get started with Young Living, you will need to purchase a Starter Kit! They have several starter kits available; I will give a brief explanation of three of them!

    1. Basic Starter Kit – $45.00. This kit includes one 5ml Stress Away Oil, AromaGlide Roller Fitment, 10 Sample Packets, 10 Love It? Share It! Business Cards, 10 Love It? Share It! Sample Oil Bottles, 2 NingXia Red 2-oz. samples, Product Guide and Product Price List, Essential Oil Magazine, Essential Edge, and member resources.
    2. Thieves Premium Kit – $160.00. This kit is a specialty premium starter kit and includes 15-ml Thieves Oil, Thieves AromaBright Toothpaste, Thieves Fresh Essence Plus Mouthwash, 2 Thieves Cleaner, 2 Thieves Foaming Hand Soap, 2 Thieves Spray, 2 Thieves Waterless Hand Purifier, and everything included in the Basic Starter Kit mentioned above.
    3. NingXia Premium Kit – $170.00. This kit is also a specialty premium kit and includes NingXia Red 2-Pack, 30 NingXia Red Single Oils, NingXia Nitro, and everything includes in the Basic Started Kit above.

    Final Thoughts:

    The products offered by Young Living are interesting and definitely have some kind of originality to them. They also have a ton of products to choose from!

    The business opportunity is something you can definitely make money from. However, in my opinion, I believe their compensation plan is kind of weak in a comparison level to other companies in which I have done reviews over. If you know exactly what you are doing and are a professional Network Marketer, you will do fine with this company and even prosper. However, if you are a total newbie and have no idea how to generate massive income from Network Marketing, you will have difficult times making money in this company.

    The cost is overall pretty inexpensive. Their Basic Starter Kit is only $45.00 and their most expensive kit is $260.00. That means, you can start a business and begin generating income all from home for a little under $300.00, which is awesome!

    *Dustin Hale is NOT affiliated with Young Living or their business/income opportunity

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    Source by Dustin Hale

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  • Emotional Labour – Organisational Behaviour

    Emotional Labour – Organisational Behaviour

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    Abstract:

    Putting on a good show, keeping face, professionalism in customer treatment can all be examples of emotional labour. When in the workplace dealing with others whether they be colleagues or customers we tend to give a positive emotional response despite the negativity of the other person (customer complaint) or our own current mood state (sadness, irritability) known as emotional dissonance. In this paper we will explore the phenomenon of emotional labour and its effect on workers productivity and social relations. The general outcome being that the strain of that dissonance creates mental health problems in the workplace.

    Introduction:

    Emotional labour can be seen as the affect of the current mood of a worker whilst engaging in interactions with others – putting on a good face for example despite feeling emotionally uncomfortable. (1. Robins/Judge 2013) These emotions can be driven by organisational expectations of an employees behaviour towards customers, clients and co-workers in support of the business goals to profit. For example in the service industry, customer complaints should be handled with a polite professional smiling attitude so that the customer perceives that their complaints are receiving serious attention. Despite the fact the service provider (customer relations officer) maybe be in a personal bad mood, have life problems or employment concerns – all this is swept aside to provide the company’s public positive image to the customer. For the employee engaged in such activities the strain of appearing positive and enthusiastic may cause both physical and emotional strain often leading to further deterioration in mood after work and in between assignments. You could argue that a good deal of the time we are in fact faking our emotions (feelings) in front of and towards others to support social conventions for example being polite. If a customer’s complaint is unreasonable, they are showing anger, accusing the company or misleading them and selling shoddy products – the company service support worker must maintain control over their own emotions despite feeling that the customer is wrong and the complaint is unwarranted or even ridiculous they still have to maintain the company driven reaction to the customer with calm professionalism. (2. Myler – Case Studies 2018) Some companies make being happy at work almost mandatory – where staff entertain, create an atmosphere or encourage excitement over the product and its associated feelings of happiness. For example, theme park staff forced to smile all day – try it yourself – it is very stressful to keep a happy demeanor in the face of disgruntled visitors waiting hours in a queue for a five minute ride or the phone shop worker being asked to entertain the queue of waiting customers with hi-fives and silly games. (3. Grandey et.al. 2010) Many customers in fact reporting discomfort at being targeted for unwanted attention and interaction). Therefore there is a difference between felt emotions (what I am actually thinking and feeling) than with displayed emotions (what is expected of me). After an interaction the employee can feel both exhausted by the forced situation and emotionally angry at faking their feelings for the benefit of others. Many people who suffer from depression report that faking happiness is the biggest strain of the day.

    Culture and Emotional Labour

    Culture may impact on how someone sees emotional labour as the expectations of others in the light of social comparison. (4. Matsumoto etal. 2009) For example many American service jobs, such as retail staff, service providers and customer interaction workers all feel that a positive upbeat smiling enthusiastic person is a definite requirement for the companies image management. The monocor – have a nice day – often rings false in the ears of those who understand this is not a genuine sentiment but a practiced social grace. In other cultures such as Japan or Asia in general – forced politeness or deference to not displaying emotions may in fact cause particular strain on everyday life where displaced emotion can be seen in acts of violence and sexual deviance. The French tend to not display openness in dealing with customers but in fact a non-smiling or even impolite attitudes towards their clients. This can cause companies dealing in global markets problems with staff in having to adapt and understand policy in line with the cultural underlying expectations of behaviour.

    Mental Health

    Many psychologists, counsellors and others such as nurses encounter patients (clients) who maybe presenting mental health problems such as anxiety (worry about future events) or depression (living with the past) that report difficulties in the work place in faking their emotions towards both colleagues and customers – that they feel the strain of the day at home later through irritability, sexual indifference a lack of appetite and sleep. Keeping up appearances at work therefore effects the very quality of our lives both in and out of the work place. (5. Myler Case Studies 2018) Dealing with difficult people whether customers or colleagues leaves us feeling exhausted physically and mentally. In therapy the psychologist maybe searching for psycho-dynamic reasons for the negative feelings from past patterns of behaviour and often miss the power of the here and now effect of faking your feelings at work simply due to enforced company policies that require us to present an image of well- being and happiness that actually is not there. Treatment therefore should focus on workplace stress rather than personal history.

    Role Play & Emotional Labour:

    Of course we are schooled from an early age in how to act given certain social situations, for example being happy at a birthday party ( don’t spoil it for everyone) to look sad at the funeral (even when we did not even like the deceased). We have learned behavior for situational displays of affect. Have you ever been told off – criticised – looked at the person with a smile on your face – and they say, “what are you smiling at?” they think you are not taking them seriously enough, acknowledging their concerns – the truth maybe that we think their remarks are unwarranted and silly – however our learned correct response is to – look serious and be intently listening – while all the time inside feeling what an idiot this person is! In other words we are often asked to fake it – for the sake of the other persons feelings – this is often seen as high empathy when in fact it is more often just a learned reaction to a situational event. Emotional intelligence is seen a as a panacea for management effectiveness but maybe little more than learned responses to situations, rather than a genuine cognitive response to some event. In other words emotional intelligence maybe more pop psychology than a fact. Measurement for emotional understanding may reflect no more about the learned response to given situations we have come to understand through cultural, generational and traditional customs of our community or group behaviour. Psychometric tests for emotional intelligence may in fact be invalid and not robust enough to provide any useful measure of a persons feelings towards others but in fact reflect that learned behaviour – what should be the response not what I actually feel inside.

    Attributions Theory – Misunderstanding Others:

    Attribution theory ( 6. Heider – 1958) suggests that we attend to what we see more than what we know. In other words – we do in fact judge a book by its cover. So if we are busy faking our emotions so must everyone else? So how do we know that the mood being displayed to us is genuine or faked. We pride ourselves on being able to know others feeling by their facial expressions, there seemingly genuineness and authentic sounding responses. In fact much of the time we maybe reacting to the faked emotion rather than the real one. We are often surprised to hear someone committed suicide – we may say – they always seemed so positive and happy looking – but that is exactly what a mis-attribution is – the lack of skills to identify a real emotion from a faked one – we are actually quite good at emotional labour at work and so do we really know what anyone is actually feeling, as opposed to what they are displaying to us. So the helpful shop assistant may in fact be bored rigid at having to seem enthusiastic about a product she has already spoken about ten times that day already.

    In Summery:

    Emotional labour is a situation where the employee expresses the companies desired response to a given situation. Emotional dissonance are our feeling of confusion between our internal feelings and the face we put upon the situation given company policy towards others. Felt emotions therefore being what we actually feel as opposed to displayed emotion being the faked response to another person. Finally emotional intelligence being no more than learned responses to events as we behave given the situation we find ourselves in. The consequences of faked emotions can be strain leading to emotional exhaustion that has both physical and emotional outcomes for mental health and general well-being. Judging others may in fact lead to mis-attributions where we think the faked emotion is in fact the real feelings of the other party.

    To be honest, open and authentic would be real intimacy in our relationships but carries the high risk of rejection and misunderstandings.

    References:

    1. Robins S.P. Judge T.A. 2013 – Organizational Behavior 15Ed Pearson Publishing

    2. Myler S.F. 2018 – Myler Case Studies 2018/19 Unpublished

    3. Grandey A. et.al. 2010 – Work in the Global Services Economy – Journal of Service Management.

    4. Matsumoto D. 2009 – Culture & Emotional Expression – New York, Taylor & Francis publishing.

    5. Myler S. F. 2019 – Myler Case Studies 2019 Unpublished

    6. Heider F 1958 – Attribution Theory – Oxford Dictionary of Psychology 2001

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    Source by Stephen F. Myler

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