Business and commerce have changed dramatically over the years. The advent of new technology and products has made customer interface, sales and supply an entirely new game. While the processes in which we do business has changed, the rules of being successful at it have held fast and carry relevance even in today’s tech savvy and advanced world.
1. Don’t assume to know what consumers want.
Presuming to know beforehand what customers want and need is great way to come across as arrogant and pretentious. Pay attention to market trends and keep up to date on developments within your industry. Network with businesses in your same field and compare notes on things that are working and those that are falling flat.
2. Keep your employees happy.
Your employees are the backbone of your business. Happy employees are statistically proven to be more productive and profitable for a business regardless of industry. A high employee turnover rate is a definite sign of internal problems that you as the owner have the power to correct. Reward hard work and recognize those who deserve it while at the same time purging yourself of those who continually bring a negative attitude and are detrimental to the work environment.
3. Encourage and listen to customer input.
There’s no better way to gain insight into what customers want than by asking them directly. Encourage the use of comment and feedback cards by your customers. Express how much you genuinely value their input and take their comments to heart.
4. Make your business a place people want to be.
Making your business an inviting place for customers is an excellent way to earn repeat business. If customers enjoy frequenting your establishment they’re far more likely to recommend you to friends and family. Ensure that every time a customer steps foot through your door they’ll have a positive experience.
5. Be active and visible.
By integrating yourself into the community and associating yourself with positive action you can build brand recognition for company. Sponsor local sports teams and volunteer to host events. Donating services and products for charity events is another fantastic way to make your company visible in a positive manner.
6. Reward customer loyalty.
Rewarding loyalty gives customers a reason to keep coming back. In addition it gives you a medium to show your gratitude for their repeat business. Customers take notice and appreciate gestures that acknowledge their loyalty, even if it’s something small.
No matter how much the times change, the basic fundamentals of good business will remain constant. Regardless of businesses present size and successes, failure to adhere to sound principles can lead to decline and downfall. Those same fundamentals can take an emerging business to the next level of success.
Brionna Kennedy is native to the Pacific Northwest, growing up in Washington, then moving down to Oregon for college. She enjoys writing on fashion and business, but any subject will do, she loves to learn about new topics. When she isn’t writing, she lives for the outdoors. Oregon has been the perfect setting to indulge her love of kayaking, rock climbing, and hiking.
Yes you heard me correctly! You can indeed build a property portfolio and become financially free without actually owning a property. What’s more, I’m not talking about investing overseas or an area that plagued with social problems. I’m talking about your own town or city or in a worst case scenario a maximum of a 45 minute drive from where you currently reside. So do I have your attention? Great, then let’s begin…
Before I begin, let me ask you a question. What monthly income would you need in order to stop working completely? Most people tell me that it would be around $4800 per month, which is around the average family take home pay. My next question is, how badly do you want it? For me, I had a burning desire to become financially free. It was an obsession. I wanted time to do the things I enjoy doing. Time is precious. It’s finite. You cannot save up time and use it later because once it’s gone, it’s gone forever.
So write down a few reasons why you want to be financially free. You see, the why is always more important than the how. I will tell you exactly how to do this very shortly, but unless you really want to do it, unless you have a compelling “why”, then it is very likely you will take no action whatsoever.
OK, so now that you have a compelling reason why you want to be financially free, you are probably still wondering how on earth you can build a property portfolio for less than $56000. And I’ll be honest with you, I really struggled with this as well when I first started out. In one of the early refurbishment projects that I did, I tied up over $32000 in one property and had to wait over 6 months before I could remortgage and get some of my initial deposit back. Unfortunately, since the credit crunch lenders require hefty deposits on buy-to-let mortgages, usually of 25% or more. What’s more, you cannot remortgage for 6 months meaning that your funds quickly become tied up, making it nearly impossible to grow your portfolio in a short space of time.
So what’s the alternative I hear you ask? Well, would you agree with me that ultimately, what we are trying to achieve is cashflow from the property, without having to pay the hefty 25% deposits? So how do we buy the property without the 25% deposit? Simple, we don’t! Instead, what we do is find a struggling landlord and offer to take the property off them as a corporate let. What this means is that we will guarantee the landlord a fixed rental for the property over a long period. We act as a management company and ensure that the property will be maintained to a satisfactory standard. We also usually pay for the property to have a light refurbishment, in order to bring it up to standard. This normally costs us on average $5600.
So why would this be appealing to them? Well, there are many reasons why a landlord may be struggling, which can include:
- Being an accidental landlord. They may have bought the property at the peak of the market and are now in negative equity, meaning that they are unable to sell the property without making a loss.
- They may have relocated to another part of the country, or even abroad, and are struggling to manage the property adequately.
- They may be too old to manage the property effectively and just want an easy retirement.
- They may just be tired of dealing with tenants and want a “hassle-free” life.
Therefore, the appeal of having a guaranteed long-term rent plus having the property fully managed for them often very appealing. We normally pay around $320 per month for every double bedroom in a property. What we stipulate with the landlord, however, is that they consent to us renting out the property on a room-by-room basis. The reason we do this, is that the yields are far higher doing it this way. We normally rent each double room for around $640 per month and overall look to make $800 per month cashflow from the property. So therefore, if you were to do this 10 times, it would cost you $56000 and give you $8000 per month cashflow, which is more than enough for most people to become financially free. So what are you waiting for!
Author Bio: Francis Dolley runs a rent to rent course in the UK teaching students how they can successfully build a portfolio of properties that they don’t own, yet generate substantial profits each and every month.
Today’s article provides another view on playing the lottery as a way to earn a living. Something fun to consider, but not endorsed by OW. 🙂 Have fun.
In this internet era, it is possible to make money countless ways online – buy lotto tickets online, develop websites online, offer customer support online, and the list just keeps going. People looking to enjoy the flexibility and comfort of working from home can explore a plethora of virtual professions and always remember that any income can be supplemented from small prizes and even jackpot wins when you play online lottery regularly! Below are a few unexpected online professions just to prove that, when it comes to working from home, the sky is the limit!
Teach from home!
University of London, University of South Africa, University of Phoenix, University of Southern Queensland – these are the best accredited online degree providers in the world! And while the students are spread out across continents and time zones, so are the professors, teachers and tutors. With the new advancements in collaborative multimedia software, distance learning is more engaging and interactive than ever. Whether facilitating one-on-one tutoring with a high school math student or lecturing to university students, online teachers earn a real educator’s salary, and some work-from-home professors earn over $100,000 a year . And any savvy professor knows to enter the online lottery a few times a week to add even more money to their paycheck!
Plan the dream vacation!
In this day and age, there are about 35,000 home-based travel agents and that number is only growing, so is the salary. Some work-from-home travel agents make over $100,000 a year, and that is not counting all of their lottery earnings from their online lottery activity! Travel agents who work from home have the same access to planning tools, industry discounts and transportation companies as those who work from a commercial office. In an age of internet overload, smart travelers are returning to travel agents to help them build a quality travel itinerary for worldwide adventures.
Some small companies hire virtual assistants to take over administrative tasks from home. Other companies employ call center representatives to work from the comfort of their own houses, answering calls and emails when it is convenient for them! One thing is for sure, when you cut out commuting time and all of the distractions of an office environment, people who work from home have far more time to enter EuroMillions lottery numbers online for the chance to win the big jackpot. In addition to bringing joy into people’s lives, any lottery prize only boosts an income!
Austin Weaver loves cooking, traveling and sports. During the day he works from home as a content writer for lotto online games.
With easy availability and accessibility of Internet services, mums can now work at the comfort of their homes. This is also enhanced by the fact that cloud computing enables you to work from anywhere efficiently. However, you need to have a cloud server (Ninefold Cloud Servers) to enhance your performance and get the best returns out of your investment. This is because a cloud optimized server enhances productivity. With a cloud application, you can easily access the best programs online and in a secure way. You only need to get an account and a password to work at home. You are not tethered to your computer at your place of work but you can comfortably use your laptop and get the job done. There are different cloud apps that work at home mums can utilize. They include:
This is a cloud app that enables you to back up and store files online using cloud storage. It is highly functional and helps you to save a great deal on time when accessing different files. This is because you can back up all files on your data to the cloud app. It also enables you to save on hard drive space. This app is incredible for mums who want to work online say, freelance writing. You can write and submit articles to different directories.
If you love marketing, this is an incredible cloud app to settle for. It comes with a wide range of features that enable you to design e-mail campaign messages. It comes with automation features and an organized subscription management. It also features catchy designs that make it easier to operate. You can always choose a design that serve your marketing and advertisement needs best and work comfortably at home.
Google Cloud Apps is additionally the best for work at home mums. It enables you to take advantage of word processing, storage in the cloud and spreadsheets. You will also access Gmail services, Google cloud applications and Sketch Up among others. The most impressive feature about this app is that you can synchronize it to suit your needs best. You can edit files and work comfortably.
This cloud app enables you to capture an event, record a meeting, take down notes and save it on the cloud. You do not have to attend meetings to get notes. This app is highly functional and you can always customize it to meet your needs best. It is one of the best options for work at home mums and saves on time.
This is also an excellent cloud app that enables you to take advantage of social media networks. You can manage all your social media accounts efficiently. It is great because you can engage in on line sales and marketing and trade profitably. You can manage all social accounts on one tab and access a wide range of features. There is no doubt that cloud apps enable you to work efficiently at the comfort of your home. More importantly, define your needs and settle for the most ideal cloud app.
Biljana is a online marketing consultant and a work-from-home Mom of two. She enjoys writing and publishing interesting news and tips on how to make your life easier while working form home.
Is it really tough economic times or is it an illusion? The votes seem to lean towards the being tough. Yet, questions continue to chase me around. The unspoken gist is that there is not enough money, resources, or time. Not enough? By what measure? And who’s measure?
The ones most guilty of singing the blues to the tune of being broke spend money on frivolity. Yes, you read it right, frivolity. Lets take a look at a household budget of today… This is not statistical, based more upon the many I share this journey with.
Rent or mortgage (necessary)
Telephone (necessity, however, there is a caveat to this, more in a bit.)
Insurance: House or Renters (?), car, health, life, or???? (necessity)
Internet (school and work)
Cell phone: data plan, photo sharing, Internet access, and all the glitz and glamor that can go with it.
Cable or Satellite Television (HD, recording capabilities, etc.)
Don’t forget food. Or do you justify spending on fast food? Alcohol, cigarettes, and other such daily habits are included in this list.
I am sure there are other monthly expenses that could get listed here, these are just the basics. Other expenses could be entertainment, dining out, playing golf, the magazines, books, and other clubs you could belong to. There is a billion different ways, just off the top of my head, to spend money.
What is necessary or a luxury item? For the now generation everything on this list plus the designer clothes, accessories, shoes, hair, and personal care are necessary. Why? Because it is what parents who did not have all that decided to give their children. And there are those parents who did have it all and no way are their children going without.
So, I ask you again what is tough economic times? There are people who do not have one single item on this list. Relying on the agencies that are straining to ensure food, clothing, and education to those who live on the streets in their town.
How do you spend your money? Is it prioritized? Are your bills listed in priority? How do you decide on the priority?
I am a spiritualist, writer, office assistant, minister (ULC), teacher, mentor, guide, counselor, coach, and mother, aunt, grandmother, and great grandmother. Young crone, sponsor, and friend. So many titles, so many tasks to a day. Yet I live each one as freely as I know how. I offer my services to everyone, anyone, business owner and private individual.
Priority begins with your personal decision. I will pose the question once more: Is this a tough economic time for you? Do you talk to others about the state of affairs, expressing how it affects you? Or do you rant about others?
Off topic for a business blog? Not at all. Consider how the environment you create for you affects your daily life. How it invites itself into your private thoughts, stalling productivity and in some cases providing pain as a way to remove yourself.
I understand. When work seems overwhelming, you can delegate. I am available to write your copy, answer emails with the information you provide. Put my 23 years of experiences to work for you. Contact me today.