What Qualities Make a Good EntrepreneurRecent statistics say that more than one hundred thousand people become millionaires in America every year. The vast majority of these people are business owners. So this basically means that if you want the highest odds of becoming a millionaire in the United States then the best place to begin is by starting your own business.Any entrepreneur will tell you that becoming a millionaire is not an easy thing to do. You must posses certain qualities in order to be successful at business ownership. Many of these qualities are already built in to your personality, while others will be strengthened and developed over time. The key is being able to identify your weak characteristics, and take the steps to strengthen them.All successful entrepreneurs have the ability to lead people, and get work done. To be a successful business owner you need to be able to effectively plan, motivate, coach, and evaluate your staff. You must be concerned about the well being of your staff because they are what is keeping your business alive.Many studies have shown that most of today's successful business men consider common sense as being the foundation to their success. You can define common sense as an ability to make sound judgements on issues that you encounter in your every day life. Your judgement is dependent upon acquired knowledge and past experiences. With a combination of the two you are able to understand complex issues easier in simpler terms.You will have a much higher chance of success with your business if you stick with a field that you have a deep knowledge and understanding of. Studies have shown that about fifty percent of home-based business start ups were launched by those who had prior knowledge in the industry with another company. Approximately forty-five percent of all start ups fail to stay alive for more than two years because the owners did not know enough about the industry before investing in it.
ications, but it takes time to find the right publication for your product.
ADVERTISING COPY
* Write tight copy.
* Write as you speak. You are generally appealing to a mass market.
* Prepare your copy carefully. It must fit your specific medium.
* The emphasis should be on YOU rather than I, the company.
* Be sincere and don't make unreasonable claims, but remember that you are selling.
* Try to convince the reader that you are reliable and
trustworthy.
* Give simple specific instruction.
* Key all ads to test their effectiveness.
* Check and double check, and have someone else check your ad to make sure everything is correct and easy to understand.
* Watch where your competitors are advertising.
* Experiment with new publications.
* It is generally considered impossible to sell something that costs more than $2.00 - $3.00 direct from either a classified ad or a small display ad. This is because there just is not enough space to convince someone to part with $10.00 or $20.00, for example. It takes a full page ad to do that.
* If you use an agency, use one that specializes in mail order, even if it is located out of town.
RESPONDING TO INQUIRIES
* Each inquiry you receive in response to an ad should be answered via First Class, if at all possible, within 24 hours.
* The contents of the envelope going to the prospective customer should contain: a circular, promotional flier, or mini-brochure, a sales letter, an order form (the order form can be part of the circular), a return envelope, and other appropriate information, such as a fact sheet, a free report, etc.
* In general, circulars should be limited to one 8 1/2 x 11 page.
* A sales letter, on the other hand, can be as long as it takes to say everything you need to say to a prospective customer in order to sell him the product.
* Sales letters should have an attention getting opening. The idea of the opening is to get him to read the rest of the letter.
POSTAGE AND SHIPPING COST
* Answer inquiries to your advertising immediately and via First Class Mail. Use Bulk Mail for future mailings.
* You can save a great deal of money by getting a Bulk Mail permit. Mail must be sorted by zip c
Custom Banners Give Shape To Your Business IdeasGiving a personalized touch to the banner that you use for promotion of any other purpose can make it look it really attractive. Chances are that you will never find the kind of banner that you are looking for, so it is best for you to make custom banners. The best part of making custom banners is that you can put up your own unique and distinct touch to the banner. The purpose of making a custom banner can be anything starting from using it for promotion to using it for personal use. One can also make effective use of banners in parties and get together and formal meetings as well. In fact banners can be effectively used for announcing any kind of gathering to people.Worrying about how to deign a custom banner and where to get it done is something you can leave aside. The simple reason for this being the fact, that there are several options available for you to get this done in the correct manner. There are agencies and poster manufacturers that specialize in making custom banners, banners and posters as per the customer whishes. All you need to do is find out a poster maker who is an expert in his field. You would surely not want someone to make custom banners or any type of poster for you till he is an expert in his field. You just have to instruct them about how you would like the custom banner to be made and designed and this will done just as you want.Keep the design simple as this is the element that will attract people. In fact studies conducted fort his has found out the people identify and connect more with the message if this is put across in a simple manner. A picture can speak thousands of words despite being silent. All you need to do is find a picture that will suitable reflect what you want to say to people. Make sure that you make a good choice about the picture as this is that element which will appeal most to customers. You need to know perfectly what pictures and message will hit them at the right point. Make sure that you keep in mind that who your target audience is before you choose any theme or message for your custom banners.Custom banners can be made in any shape, size and color. Most people see banners everyday in many places, so the idea must always be to make custom banners in a unique way so that it catches the attention of the public very easily. Traditional methods of advertising no doubt work well, but the use of any new and innovative method for publicity will surely attract attention. The idea is to get eyeball hits to make the product popular very easily. The best means to do this is to get the help of professional to deign the custom banner for you incorporating all your ideas and thoughts. After all if you are undertaking this, you must make sure that you get beneficial results for your business.
No claim is made that the steps outlined would be successful for someone else. Each individual should obtain whatever professional advice may be
necessary for his particular operation.
INTRODUCTION
The following is designed to provide a check list for new entrants into the mail order field. Each mail order business is different, but there are common elements that apply to most mail order businesses, as well as some specific characteristics that may vary from business to business. The following suggestions were developed to assist you in avoiding costly mistakes. Apply the various points as they relate to your specific business.
COMPANY NAME
* Select a short, easily remembered name.
* Unless you are using your own name, it is required in most jurisdictions that a trade name is either registered with the county or the state.
* Before you spend money for printing material, make sure that the name you choose is not already registered to another company. You can usually conduct a name search with an office of the appropriate jurisdiction by telephone.
* You may consider using a name that describes your product.
COMPANY ADDRESS
* Most newly established mail order businesses will operate out of their home until the volume of the business requires larger space.
* Most mail order businesses prefer not to use their home address as their company address. If you do, you will advertise your home address in regional and national publications. You have two other choices, a Post Office Box(POB) or a postal box located in a commercial enterprise which rents out mail boxes.
* A POB is generally the least expensive, both to rent and for advertising purposes. (See below) Some mail order operators claim that it reduces business because people do not trust a POB address. Yet there are just as many mail order operators who disprove this notion. The decision is yours.
* If you rent a mail box in a commercial enterprise, your box number usually becomes a suite number in the address.
* Almost all publications will charge you a full word charge for each component of your address, except the Zip Code and State which is counted as one word, Example:
Information Books, 300 Main Street, Suite 611, Centerville,
Md 20910 Or:
Information Books, Box 1000, Centerville, Md 20910.
* The first address is counted as 9 words, the second one as 6 words. Since advertising costs anywhere from 50 cents to $10.00 per word (classified advertising) you could save a substantial amount of money at the end of the year if you use a post office box.
TELEPHONE
* Some mail order companies do not show their phone numbers on their stationery, others do. It gives the customer some comfort to see a telephone number, although he may never use it.
* You can show your residence phone number in the appropriate printed material, or you can obtain a business listing for your home.
* The residence phone is fine, for starters, if it is answered in a professional manner at all times.
* If you plan to sell higher priced ticket items, however,
(over $15.00) a business listing would be advantageous since a prospective customer may pick up the phone and check with the information operator whether "Company X" is listed.
BASIC SUPPLIES
* Be conservative and frugal in your acquisition of items that you feel are needed. It's always wise to start small, and as inexpensively as possible, and as you build profits, you can
buy more and better items.
* The basics are a good quality computer, Business stationery, business envelopes (#10's), and return envelopes, either #6 or #9 is fine. All items should have your business name and address
imprinted on them.
* You will also need some mailing labels and some miscellaneous office supplies.
PRODUCT
* If possible, choose a product or products that people need
on an ongoing basis.
* Be sure the product is of acceptable quality. Know the
product before you sell it.
* If feasible, choose an item that is not widely available
from retailers.
* Develop a line of merchandise. It is rarely possible to make money with just one or two items. The availability of a line of related products is paramount to mail order success.
* The more specialized your products are, the easier your marketing becomes.
* If you are selling books, for example, it would be impossible, except for a very large company, to sell all types of books. You may decide to specialize in books pertaining to sports, and may want to go even further by zeroing in on football or baseball.
SUPPLIERS
* Your suppliers should provide you with reliable, quality,
and reasonable pricing.
* Since you probably should provide some type of a money back
guarantee (30 days is standard) you should expect the same guarantee from your suppliers.
* When buying from out of town suppliers, be sure to include the shipping charge in comparing prices to local suppliers.
DROP-SHIPMENTS
* Under a drop-ship agreement which is available from many suppliers for a variety of products, the supplier ships your customers' orders directly under your shipping label.
(Suggested reading: "American-Drop-Shippers Directory".)
* It is customary that the supplier guarantees not to include any of his promotional materials with the shipment; or to use your customer's name for any future mailings.
* Drop-shipping arrangements are suitable for people just getting started. It allows you not to have to carry a costly inventory.
* As your business increases and you develop a sense of what sells well, you can stock limited supplies of certain fast selling items, and continue utilizing drop-shipments for slower products. Eventually, as your business flourishes, you can carry an inventory of everything you sell.
* Handling your own shipments is advantageous for the following reasons: It cuts down on your shipping expenses, it decreases the shipping time, and it allows you to include promotional material directly with the shipment.
* When you do utilize drop-shipments, be sure to send your customer a note that his order is being processed and he can expect it by, or around a certain date.
* It is unnecessary to make your customer aware of the fact that the item is being drop-shipped. Include some promotional material with your letter or note.
PRICING
* Buy at a price that allows you an adequate mark-up. In setting your prices, allow for all costs:
* Cost of product, shipping cost and postage, bank charges including credit card charges, wrapping, bad debts, rejects, refunds, etc. In addition, the other normal overhead costs need to be considered,. Lastly, there is the substantial marketing cost for advertising, and for printing of
promotional items. (See following paragraphs)
* Your prices of course, have to be fair and in line with your competition.
* It is not necessary that you make a big profit on each and every item. the real profit in mail order comes from follow-up orders.
* THE 3 BIGGEST EXPENSE CATEGORIES IN MAIL ORDER ARE:
ADVERTISING, PRINTING COST, AND POSTAGE. Over 80% of your total expenses are in this area. Watch these expenses very carefully.
ADVERTISING EXPENSE
* Start with classified ads. As you test them and know what
is successful, you can switch to display ads.
* To test an offering and a specific ad, run it once in a specific publication and you should get a reading that could be very positive or very negative. It might also be inconclusive. If that is the case, simply run it again.
* It is best to test an ad by running it in different publications.
* Advertise in publications that advertise similar products.
* If you have a sure seller, buy larger space.
* Special interest products should be advertised in special interest publications.
* Keep on changing the ad and offering until you are satisfied
it is right.
* Examples of changes you can make are: size of ad, copy,appeal, special gimmicks such as discounts, free gifts or reports, etc.
* Remember that a given ad can be 20 or 30 times more successful than another ad advertising the same product. It pays, therefore, to continue testing until it is just right.
* Repeat a successful ad until you no longer get a satisfactory return.
* The conventional advertising cost is 15% of sales or more in
mail order.
* To evaluate your advertising cost, think in terms of cost per inquiry. This is calculated by dividing the number of inquiries into the cost of the ad. that cost may vary from about $$0.80 to $2.00 or more.
* Be careful when you allocate advertising funds to small mail order publications. The ad may appear to be very inexpensive. However, a $15.00 ad that gets no response is a lot more expensive than a $150.00 ad that gets over 100 inquiries.
* Stay away from those publications that have no news or editorial content, and also those that have poor printing quality.
* There are a number of quality mail order publications, but it takes time to find the right publication for your product.
ADVERTISING COPY
* Write tight copy.
* Write as you speak. You are generally appealing to a mass market.
* Prepare your copy carefully. It must fit your specific medium.
* The emphasis should be on YOU rather than I, the company.
* Be sincere and don't make unreasonable claims, but remember that you are selling.
* Try to convince the reader that you are reliable and
trustworthy.
* Give simple specific instruction.
* Key all ads to test their effectiveness.
* Check and double check, and have someone else check your ad to make sure everything is correct and easy to understand.
* Watch where your competitors are advertising.
* Experiment with new publications.
* It is generally considered impossible to sell something that costs more than $2.00 - $3.00 direct from either a classified ad or a small display ad. This is because there just is not enough space to convince someone to part with $10.00 or $20.00, for example. It takes a full page ad to do that.
* If you use an agency, use one that specializes in mail order, even if it is located out of town.
RESPONDING TO INQUIRIES
* Each inquiry you receive in response to an ad should be answered via First Class, if at all possible, within 24 hours.
* The contents of the envelope going to the prospective customer should contain: a circular, promotional flier, or mini-brochure, a sales letter, an order form (the order form can be part of the circular), a return envelope, and other appropriate information, such as a fact sheet, a free report, etc.
* In general, circulars should be limited to one 8 1/2 x 11 page.
* A sales letter, on the other hand, can be as long as it takes to say everything you need to say to a prospective customer in order to sell him the product.
* Sales letters should have an attention getting opening. The idea of the opening is to get him to read the rest of the letter.
POSTAGE AND SHIPPING COST
* Answer inquiries to your advertising immediately and via First Class Mail. Use Bulk Mail for future mailings.
* You can save a great deal of money by getting a Bulk Mail permit. Mail must be sorted by zip co
Government Grants, What You Need To KnowNone of these Government Grants require a credit check, collateral, security deposits or co-signers, you can apply even if you have a bankruptcy or bad credit, it doesn't matter. There are many different government grants available, from a great many different sources, and these government grants can be a godsend for anyone trying to start a new business, put themselves or their children through school or even buy a first home. Whether you need money to fix up your home or you'd like to go to college, government grants shouldn't be overlooked.If you find out that the amount of funding you qualify for still doesn't meet your needs, you can pursue additional private and government grants, scholarships and other programs. As you can see, government grants, scholarships and more are available to help you pay for college. Basically free money offered by the federal government to help citizens realize their dreams and improve the American landscape along the way, there are literally hundreds of different grants available.Having pointed to the drawbacks, there are many genuine government grants for both small businesses and individuals available, and these can be substantial. There are also Reserved Free Government Cash Grants now available for the following special interest groups. Some government grants are available only to residents of certain states or municipalities, while others are restricted to those who work in certain industries, or who come from a certain socioeconomic background.Government grants are offered for those who want to buy their first home, to those who are starting a business and need finance in order to make everything work, to those who want to investigate on certain fields that the government has a particular interest on developing, etc. What all these different grants have in common is the fact that their purpose is to provide finance for those in an underprivileged situation in each particular field. Due to the nature of government grants there is no such thing as a fixed set of requirements that the different grant types have in common.When researching for Government Grants, one of the best resources for research is the Internet. In order to find these different government grants it is best to begin with the Free Application for Student Aid otherwise known as the FAFSA. If you would like to pursue getting a government grant or a consolidation loan it is very important to take the time to properly research any offer you come across.When you find the government grant program you want to apply in, you must register for an account. You should also first locate the right government grant program that is appropriate for your need. Whether it is to pay for school, or to start a business there are ways for you to receive government help in a form of grants.
20910 Or:
Information Books, Box 1000, Centerville, Md 20910.
* The first address is counted as 9 words, the second one as 6 words. Since advertising costs anywhere from 50 cents to $10.00 per word (classified advertising) you could save a substantial amount of money at the end of the year if you use a post office box.
TELEPHONE
* Some mail order companies do not show their phone numbers on their stationery, others do. It gives the customer some comfort to see a telephone number, although he may never use it.
* You can show your residence phone number in the appropriate printed material, or you can obtain a business listing for your home.
* The residence phone is fine, for starters, if it is answered in a professional manner at all times.
* If you plan to sell higher priced ticket items, however,
(over $15.00) a business listing would be advantageous since a prospective customer may pick up the phone and check with the information operator whether "Company X" is listed.
BASIC SUPPLIES
* Be conservative and frugal in your acquisition of items that you feel are needed. It's always wise to start small, and as inexpensively as possible, and as you build profits, you can
buy more and better items.
* The basics are a good quality computer, Business stationery, business envelopes (#10's), and return envelopes, either #6 or #9 is fine. All items should have your business name and address
imprinted on them.
* You will also need some mailing labels and some miscellaneous office supplies.
PRODUCT
* If possible, choose a product or products that people need
on an ongoing basis.
* Be sure the product is of acceptable quality. Know the
product before you sell it.
* If feasible, choose an item that is not widely available
from retailers.
* Develop a line of merchandise. It is rarely possible to make money with just one or two items. The availability of a line of related products is paramount to mail order success.
* The more specialized your products are, the easier your marketing becomes.
* If you are selling books, for example, it would be impossible, except for a very large company, to sell all types of books. You may decide to specialize in books pertaining to sports, and may want to go even further by zeroing in on football or baseball.
SUPPLIERS
* Your suppliers should provide you with reliable, quality,
and reasonable pricing.
* Since you probably should provide some type of a money back
guarantee (30 days is standard) you should expect the same guarantee from your suppliers.
* When buying from out of town suppliers, be sure to include the shipping charge in comparing prices to local suppliers.
DROP-SHIPMENTS
* Under a drop-ship agreement which is available from many suppliers for a variety of products, the supplier ships your customers' orders directly under your shipping label.
(Suggested reading: "American-Drop-Shippers Directory".)
* It is customary that the supplier guarantees not to include any of his promotional materials with the shipment; or to use your customer's name for any future mailings.
* Drop-shipping arrangements are suitable for people just getting started. It allows you not to have to carry a costly inventory.
* As your business increases and you develop a sense of what sells well, you can stock limited supplies of certain fast selling items, and continue utilizing drop-shipments for slower products. Eventually, as your business flourishes, you can carry an inventory of everything you sell.
* Handling your own shipments is advantageous for the following reasons: It cuts down on your shipping expenses, it decreases the shipping time, and it allows you to include promotional material directly with the shipment.
* When you do utilize drop-shipments, be sure to send your customer a note that his order is being processed and he can expect it by, or around a certain date.
* It is unnecessary to make your customer aware of the fact that the item is being drop-shipped. Include some promotional material with your letter or note.
PRICING
* Buy at a price that allows you an adequate mark-up. In setting your prices, allow for all costs:
* Cost of product, shipping cost and postage, bank charges including credit card charges, wrapping, bad debts, rejects, refunds, etc. In addition, the other normal overhead costs need to be considered,. Lastly, there is the substantial marketing cost for advertising, and for printing of
promotional items. (See following paragraphs)
* Your prices of course, have to be fair and in line with your competition.
* It is not necessary that you make a big profit on each and every item. the real profit in mail order comes from follow-up orders.
* THE 3 BIGGEST EXPENSE CATEGORIES IN MAIL ORDER ARE:
ADVERTISING, PRINTING COST, AND POSTAGE. Over 80% of your total expenses are in this area. Watch these expenses very carefully.
ADVERTISING EXPENSE
* Start with classified ads. As you test them and know what
is successful, you can switch to display ads.
* To test an offering and a specific ad, run it once in a specific publication and you should get a reading that could be very positive or very negative. It might also be inconclusive. If that is the case, simply run it again.
* It is best to test an ad by running it in different publications.
* Advertise in publications that advertise similar products.
* If you have a sure seller, buy larger space.
* Special interest products should be advertised in special interest publications.
* Keep on changing the ad and offering until you are satisfied
it is right.
* Examples of changes you can make are: size of ad, copy,appeal, special gimmicks such as discounts, free gifts or reports, etc.
* Remember that a given ad can be 20 or 30 times more successful than another ad advertising the same product. It pays, therefore, to continue testing until it is just right.
* Repeat a successful ad until you no longer get a satisfactory return.
* The conventional advertising cost is 15% of sales or more in
mail order.
* To evaluate your advertising cost, think in terms of cost per inquiry. This is calculated by dividing the number of inquiries into the cost of the ad. that cost may vary from about $$0.80 to $2.00 or more.
* Be careful when you allocate advertising funds to small mail order publications. The ad may appear to be very inexpensive. However, a $15.00 ad that gets no response is a lot more expensive than a $150.00 ad that gets over 100 inquiries.
* Stay away from those publications that have no news or editorial content, and also those that have poor printing quality.
* There are a number of quality mail order publications, but it takes time to find the right publication for your product.
ADVERTISING COPY
* Write tight copy.
* Write as you speak. You are generally appealing to a mass market.
* Prepare your copy carefully. It must fit your specific medium.
* The emphasis should be on YOU rather than I, the company.
* Be sincere and don't make unreasonable claims, but remember that you are selling.
* Try to convince the reader that you are reliable and
trustworthy.
* Give simple specific instruction.
* Key all ads to test their effectiveness.
* Check and double check, and have someone else check your ad to make sure everything is correct and easy to understand.
* Watch where your competitors are advertising.
* Experiment with new publications.
* It is generally considered impossible to sell something that costs more than $2.00 - $3.00 direct from either a classified ad or a small display ad. This is because there just is not enough space to convince someone to part with $10.00 or $20.00, for example. It takes a full page ad to do that.
* If you use an agency, use one that specializes in mail order, even if it is located out of town.
RESPONDING TO INQUIRIES
* Each inquiry you receive in response to an ad should be answered via First Class, if at all possible, within 24 hours.
* The contents of the envelope going to the prospective customer should contain: a circular, promotional flier, or mini-brochure, a sales letter, an order form (the order form can be part of the circular), a return envelope, and other appropriate information, such as a fact sheet, a free report, etc.
* In general, circulars should be limited to one 8 1/2 x 11 page.
* A sales letter, on the other hand, can be as long as it takes to say everything you need to say to a prospective customer in order to sell him the product.
* Sales letters should have an attention getting opening. The idea of the opening is to get him to read the rest of the letter.
POSTAGE AND SHIPPING COST
* Answer inquiries to your advertising immediately and via First Class Mail. Use Bulk Mail for future mailings.
* You can save a great deal of money by getting a Bulk Mail permit. Mail must be sorted by zip c
Introduction to Outsourcing for the Project Management ProfessionalBusiness globalization, combined with the relentless change of new technology, continues to challenge our ability to adequately manage enterprise computing activities. Past efforts used to control the various aspects of system integration are no longer effective in today’s diverse and complex information environments. The need for more competent project management techniques is paramount to the survival of those organizations who rely heavily on the benefits of computing technology.Effective project management is a formidable effort, and in comparison to other IS related tasks, it is frequently shrouded with perceptions rather than viewed as a set of adjacent management principles. It is still surprising to find that many IS professionals often ignore basic concepts in an attempt to formalize a single approach that can handle the various facets associated with technical projects.Successful delivery of most IS applications requires a solid understanding of principles which are germane to the project management process. Experienced IS professionals have learned how to apply the basic concepts regardless of the project. At the same time, it is equally important to acknowledge differences in project scope without blind adherence to the rules. The cost of ignoring sound management principles is typically disastrous, and in many cases occurs well into the schedule of a given project. Many professionals who fail at project management are either victims of rigid discipline or reckless experimentation.A crucial component of project management is the ability to utilize human resources in meeting application goals. Historically, acquiring the skills needed to manage people had been less emphasized than having the skills to handle technical details. Although this may explain why IS professionals struggled with human relationships, it is no longer acceptable to remain as merely the technical agent. Clearly, the most successful project managers have mastered the art of working with diverse organizational types, including vendors, contractors, and consultants. These important skills are not easily acquired and often need years of experience to cultivate.The shortages of skilled professionals, as well as the need to focus on core competencies, has prompted many, if not all, organizations to seek expertise beyond traditional boundaries. While the promises of outsourcing have been well identified, there are many issues that still require the experience of project management. Merely outsourcing technical tasks does not guarantee successful completion, nor does it automatically ensure that the best interests of the project will be accomplished. Unfortunately, some IS professionals abdicate their responsibilities when using external resources. This has caused numerous organization to re-evaluate procedures when engaging in outsourcing activities. However, outsourcing will remain as a strong complement to internal resources needed in applications development. Understanding the appropriate risks and rewards for using outsourcing is now a mandatory part of any project management strategy.
to sports, and may want to go even further by zeroing in on football or baseball.
SUPPLIERS
* Your suppliers should provide you with reliable, quality,
and reasonable pricing.
* Since you probably should provide some type of a money back
guarantee (30 days is standard) you should expect the same guarantee from your suppliers.
* When buying from out of town suppliers, be sure to include the shipping charge in comparing prices to local suppliers.
DROP-SHIPMENTS
* Under a drop-ship agreement which is available from many suppliers for a variety of products, the supplier ships your customers' orders directly under your shipping label.
(Suggested reading: "American-Drop-Shippers Directory".)
* It is customary that the supplier guarantees not to include any of his promotional materials with the shipment; or to use your customer's name for any future mailings.
* Drop-shipping arrangements are suitable for people just getting started. It allows you not to have to carry a costly inventory.
* As your business increases and you develop a sense of what sells well, you can stock limited supplies of certain fast selling items, and continue utilizing drop-shipments for slower products. Eventually, as your business flourishes, you can carry an inventory of everything you sell.
* Handling your own shipments is advantageous for the following reasons: It cuts down on your shipping expenses, it decreases the shipping time, and it allows you to include promotional material directly with the shipment.
* When you do utilize drop-shipments, be sure to send your customer a note that his order is being processed and he can expect it by, or around a certain date.
* It is unnecessary to make your customer aware of the fact that the item is being drop-shipped. Include some promotional material with your letter or note.
PRICING
* Buy at a price that allows you an adequate mark-up. In setting your prices, allow for all costs:
* Cost of product, shipping cost and postage, bank charges including credit card charges, wrapping, bad debts, rejects, refunds, etc. In addition, the other normal overhead costs need to be considered,. Lastly, there is the substantial marketing cost for advertising, and for printing of
promotional items. (See following paragraphs)
* Your prices of course, have to be fair and in line with your competition.
* It is not necessary that you make a big profit on each and every item. the real profit in mail order comes from follow-up orders.
* THE 3 BIGGEST EXPENSE CATEGORIES IN MAIL ORDER ARE:
ADVERTISING, PRINTING COST, AND POSTAGE. Over 80% of your total expenses are in this area. Watch these expenses very carefully.
ADVERTISING EXPENSE
* Start with classified ads. As you test them and know what
is successful, you can switch to display ads.
* To test an offering and a specific ad, run it once in a specific publication and you should get a reading that could be very positive or very negative. It might also be inconclusive. If that is the case, simply run it again.
* It is best to test an ad by running it in different publications.
* Advertise in publications that advertise similar products.
* If you have a sure seller, buy larger space.
* Special interest products should be advertised in special interest publications.
* Keep on changing the ad and offering until you are satisfied
it is right.
* Examples of changes you can make are: size of ad, copy,appeal, special gimmicks such as discounts, free gifts or reports, etc.
* Remember that a given ad can be 20 or 30 times more successful than another ad advertising the same product. It pays, therefore, to continue testing until it is just right.
* Repeat a successful ad until you no longer get a satisfactory return.
* The conventional advertising cost is 15% of sales or more in
mail order.
* To evaluate your advertising cost, think in terms of cost per inquiry. This is calculated by dividing the number of inquiries into the cost of the ad. that cost may vary from about $$0.80 to $2.00 or more.
* Be careful when you allocate advertising funds to small mail order publications. The ad may appear to be very inexpensive. However, a $15.00 ad that gets no response is a lot more expensive than a $150.00 ad that gets over 100 inquiries.
* Stay away from those publications that have no news or editorial content, and also those that have poor printing quality.
* There are a number of quality mail order publications, but it takes time to find the right publication for your product.
ADVERTISING COPY
* Write tight copy.
* Write as you speak. You are generally appealing to a mass market.
* Prepare your copy carefully. It must fit your specific medium.
* The emphasis should be on YOU rather than I, the company.
* Be sincere and don't make unreasonable claims, but remember that you are selling.
* Try to convince the reader that you are reliable and
trustworthy.
* Give simple specific instruction.
* Key all ads to test their effectiveness.
* Check and double check, and have someone else check your ad to make sure everything is correct and easy to understand.
* Watch where your competitors are advertising.
* Experiment with new publications.
* It is generally considered impossible to sell something that costs more than $2.00 - $3.00 direct from either a classified ad or a small display ad. This is because there just is not enough space to convince someone to part with $10.00 or $20.00, for example. It takes a full page ad to do that.
* If you use an agency, use one that specializes in mail order, even if it is located out of town.
RESPONDING TO INQUIRIES
* Each inquiry you receive in response to an ad should be answered via First Class, if at all possible, within 24 hours.
* The contents of the envelope going to the prospective customer should contain: a circular, promotional flier, or mini-brochure, a sales letter, an order form (the order form can be part of the circular), a return envelope, and other appropriate information, such as a fact sheet, a free report, etc.
* In general, circulars should be limited to one 8 1/2 x 11 page.
* A sales letter, on the other hand, can be as long as it takes to say everything you need to say to a prospective customer in order to sell him the product.
* Sales letters should have an attention getting opening. The idea of the opening is to get him to read the rest of the letter.
POSTAGE AND SHIPPING COST
* Answer inquiries to your advertising immediately and via First Class Mail. Use Bulk Mail for future mailings.
* You can save a great deal of money by getting a Bulk Mail permit. Mail must be sorted by zip c
Change Or DuplicationHow often have we been told that we need to change, up-date, and modernize?Yet, when we make those changes, we are then told we change too often?I think that this is especially true for those of us who do business over the internet. Like any company, we want to stay in business. Not just for a couple of months, but most of us are in it for the long haul. For us, it is a business, just like any brick and mortar store is for that owner.After nearly 10 years, I have come to realize, like the major chain store companies, you have to make changes to keep your customers coming back and to win new ones. If we keep to the “same old, same old,” we will never get new customers pass our index page and will lose those who have kept us in business.Each month, I make changes to the index page, adding and removing products, and periodically change the look of the site.I make changes to stay up dated. I don’t want my sites to look as though a customer was walking into a good will or used clothing or furniture store. You know the type, wander around and you will find what you want.It is easy to use a pre made template or free shopping cart, but you are then stuck with the look and idea of another person. If this is what you are happy with, then there is no problem. But, if you are like me, have ideas you would like to see implemented, you are then stifled with this pre made type of site or shopping cart.I have a friend and fellow web site owner who tell me I make to many changes, yet she herself has made changes to her site over the past couple of years. Subtle changes, not those complete overhauls I have, but change never the less. She is happy with her site and has friends who can help her make those complicated upgrades.Unfortunately for me, I don’t have those friends, I have to sit there and try to figure out the changes, nor do I always have the time. So I try to find those programs that I can do from scratch, there by putting my own unique vision on my site.There are programs out there, which will help you achieve that vision you have. Weather we use a template we purchase, or programs such as Dream Weaver or Front Page, we can bring that particular vision we have to fruition.Once we get our site down, we then need a shopping cart. If you don’t want to pay that $40 to $50 price per month, with a little effort, you can find those carts, which may cost a little but are easy to use. They are out there, you just have to take the time and have the patience to look for exactly the type you want. 30 days free is great to help you determine if this particular cart is the right one for you.Of course, there is always PayPal?. They do take a small fee for each order, but compared to paying for a gateway each month, whether you make a sale or not, makes up for the charge.Personally, I like originality. I don’t want to be a cookie cutter. So, I went back to my beginnings, pulled out my HTML manuals and decided to do it myself. And you know what, I liked the way the site came out so much, that I decided to redo my main site. My sites are my unique vision of what I want, and not a duplication of everything else out there.As the old saying goes,
of
promotional items. (See following paragraphs)
* Your prices of course, have to be fair and in line with your competition.
* It is not necessary that you make a big profit on each and every item. the real profit in mail order comes from follow-up orders.
* THE 3 BIGGEST EXPENSE CATEGORIES IN MAIL ORDER ARE:
ADVERTISING, PRINTING COST, AND POSTAGE. Over 80% of your total expenses are in this area. Watch these expenses very carefully.
ADVERTISING EXPENSE
* Start with classified ads. As you test them and know what
is successful, you can switch to display ads.
* To test an offering and a specific ad, run it once in a specific publication and you should get a reading that could be very positive or very negative. It might also be inconclusive. If that is the case, simply run it again.
* It is best to test an ad by running it in different publications.
* Advertise in publications that advertise similar products.
* If you have a sure seller, buy larger space.
* Special interest products should be advertised in special interest publications.
* Keep on changing the ad and offering until you are satisfied
it is right.
* Examples of changes you can make are: size of ad, copy,appeal, special gimmicks such as discounts, free gifts or reports, etc.
* Remember that a given ad can be 20 or 30 times more successful than another ad advertising the same product. It pays, therefore, to continue testing until it is just right.
* Repeat a successful ad until you no longer get a satisfactory return.
* The conventional advertising cost is 15% of sales or more in
mail order.
* To evaluate your advertising cost, think in terms of cost per inquiry. This is calculated by dividing the number of inquiries into the cost of the ad. that cost may vary from about $$0.80 to $2.00 or more.
* Be careful when you allocate advertising funds to small mail order publications. The ad may appear to be very inexpensive. However, a $15.00 ad that gets no response is a lot more expensive than a $150.00 ad that gets over 100 inquiries.
* Stay away from those publications that have no news or editorial content, and also those that have poor printing quality.
* There are a number of quality mail order publications, but it takes time to find the right publication for your product.
ADVERTISING COPY
* Write tight copy.
* Write as you speak. You are generally appealing to a mass market.
* Prepare your copy carefully. It must fit your specific medium.
* The emphasis should be on YOU rather than I, the company.
* Be sincere and don't make unreasonable claims, but remember that you are selling.
* Try to convince the reader that you are reliable and
trustworthy.
* Give simple specific instruction.
* Key all ads to test their effectiveness.
* Check and double check, and have someone else check your ad to make sure everything is correct and easy to understand.
* Watch where your competitors are advertising.
* Experiment with new publications.
* It is generally considered impossible to sell something that costs more than $2.00 - $3.00 direct from either a classified ad or a small display ad. This is because there just is not enough space to convince someone to part with $10.00 or $20.00, for example. It takes a full page ad to do that.
* If you use an agency, use one that specializes in mail order, even if it is located out of town.
RESPONDING TO INQUIRIES
* Each inquiry you receive in response to an ad should be answered via First Class, if at all possible, within 24 hours.
* The contents of the envelope going to the prospective customer should contain: a circular, promotional flier, or mini-brochure, a sales letter, an order form (the order form can be part of the circular), a return envelope, and other appropriate information, such as a fact sheet, a free report, etc.
* In general, circulars should be limited to one 8 1/2 x 11 page.
* A sales letter, on the other hand, can be as long as it takes to say everything you need to say to a prospective customer in order to sell him the product.
* Sales letters should have an attention getting opening. The idea of the opening is to get him to read the rest of the letter.
POSTAGE AND SHIPPING COST
* Answer inquiries to your advertising immediately and via First Class Mail. Use Bulk Mail for future mailings.
* You can save a great deal of money by getting a Bulk Mail permit. Mail must be sorted by zip c
How to Reap the Awards from Corporate EventsHolding a successful corporate event can have many benefits, from the obvious, such as team building and problem solving, to the not so obvious, such as increased productivity and morale. But what is the best way to go about this sometimes daunting task?Define your goals, e.g. team building.Before you think about the event itself, you need to identify what you want to achieve from it. You may want to reward your employees for a job well done, or perhaps have a fun day to increase staff motivation. Many events are designed to enhance skills such as team building, problem solving or leadership, and most events can be a combination of fun and learning. Compile a list of goals in order of importance so you can stay focussed on the aims of the day when deciding which event to run.Organise internally or out-source to an event management company?The next decision to make is whether to organise the event internally or to out-source the event to an event management or training company. Organising a corporate event internally is time consuming and costly, but it could be given as a development task to suitable staff. One of the pitfalls of organising corporate events yourself, is using an inexperienced facilitator, as they may not be capable of keeping the event on track or preventing things getting out of hand. Not only could an event management company provide an experienced facilitator, there is also the advantage of having an independent presence (or referee in some instances).Many companies have been shocked at the amount of time organising an event actually takes, from designing the event, sourcing the venue, booking the venue, sourcing and organising the equipment, preparing the venue, sorting out transport, organising the food and refreshments and obtaining public liability insurance, to paying the bills to various companies. An event management company will quote you one price covering everything, which leaves you free to enjoy the event, rather than worry about it.Choose your eventSo you know what you want from an event, and you know who will be organising it, but what exactly will you be doing on the day? The event needs to be chosen carefully to ensure you meet your desired goals whilst getting the most from the participants. Consider your audience. If one of your goals is to give people new experiences then you may want to run a very creative event for IT people or a chaotic event for auditors, but otherwise you may not get the best out of the staff if they are feeling way out of their depth and uncomfortable. Event management companies will offer a list of events to suit your goals and people, leaving you to choose the most appropriate one. They will also tailor events to your requirements, and will have run these events many times before, so you can be sure of the outcome.If you are organising the event yourself, you need to ensure it does actually give you the required benefits. It is all too easy to get carried away with an idea, and later realise it changed so much that the event did not achieve many of the original goals. If you are organising it internally, you will also need a practice run, preferably at the actual venue, to iron out any practical problems before
ications, but it takes time to find the right publication for your product.
ADVERTISING COPY
* Write tight copy.
* Write as you speak. You are generally appealing to a mass market.
* Prepare your copy carefully. It must fit your specific medium.
* The emphasis should be on YOU rather than I, the company.
* Be sincere and don't make unreasonable claims, but remember that you are selling.
* Try to convince the reader that you are reliable and
trustworthy.
* Give simple specific instruction.
* Key all ads to test their effectiveness.
* Check and double check, and have someone else check your ad to make sure everything is correct and easy to understand.
* Watch where your competitors are advertising.
* Experiment with new publications.
* It is generally considered impossible to sell something that costs more than $2.00 - $3.00 direct from either a classified ad or a small display ad. This is because there just is not enough space to convince someone to part with $10.00 or $20.00, for example. It takes a full page ad to do that.
* If you use an agency, use one that specializes in mail order, even if it is located out of town.
RESPONDING TO INQUIRIES
* Each inquiry you receive in response to an ad should be answered via First Class, if at all possible, within 24 hours.
* The contents of the envelope going to the prospective customer should contain: a circular, promotional flier, or mini-brochure, a sales letter, an order form (the order form can be part of the circular), a return envelope, and other appropriate information, such as a fact sheet, a free report, etc.
* In general, circulars should be limited to one 8 1/2 x 11 page.
* A sales letter, on the other hand, can be as long as it takes to say everything you need to say to a prospective customer in order to sell him the product.
* Sales letters should have an attention getting opening. The idea of the opening is to get him to read the rest of the letter.
POSTAGE AND SHIPPING COST
* Answer inquiries to your advertising immediately and via First Class Mail. Use Bulk Mail for future mailings.
* You can save a great deal of money by getting a Bulk Mail permit. Mail must be sorted by zip code. Get more specific information from your Post
Office.
* Keep your mailing lists clean - updated.
* Utilize all of the various mail classes, such as Printed Mail and Book rate.
* Compare costs of shippers other than the Post Office.
* Guarantee return postage.
* Watch your shipping weight. A fraction of an ounce can make a big difference in a large mailing.
PRINTING COST
* Very large printers will not be interested in your business. Very small ones, quick printers and instant printers although convenient, are generally too expensive. Their equipment is not large enough to be competitive.
* There are many medium sized printers that will give you good pricing and quality printing. Often they have the capability to help you with layout and design.
* Don't hesitate to use out of town printers. If you live in a high cost-of -living area, you can probably save a substantial amount of money. Many of these printers advertise in mail order publications.
* Utilize the promotional material available from your supplier.
* Until you know what sells, print small quantities, even if it is more expensive.
* Use colored paper for your promotional flyers to spice up your offer. Use white paper, blue or black ink for everything else.
CUSTOMER PAYMENTS, REFUNDS AND COMPLAINTS
* Accept money orders and checks.
* Some mail order companies state in their material that they will not ship for 10 days to 2 weeks when payment is made with an out of town check. This may be an unwise practice because, it can create ill feelings with your customers. NSF checks are rare.
* An increasing number of mail order companies accept credit cards - Visa and MasterCard - for payment. It is generally felt that it does increase sales.
* If you cannot obtain a credit card merchant agreement with your bank work through a credit card clearing house. A number of these companies advertise in mail order publications. Since these companies generally charge between 6-9%, it may be wise to set a minimum amount such as $15.00 for credit card orders.
* Remember, "the customer" is always right. An argument won,is usually a customer lost.
* If you receive an order with an underpayment, ship the order and bill the customer for the difference.
* Make refunds on overpayments quickly.
* Most mail order companies offer a 30 day money back guarantee. Some offer 90 days and even more.
* It is unwise to offer money back guarantees on items priced very inexpensively, for example, a $3.00 report.
RECORD KEEPING
* As in any business, it is important to keep records.
* You need records to tell you what is going on in your business; to evaluate both your revenues and your expenses.
* It is also required by law that you keep certain records.
* Keep especially good records of your advertising expenses so you can evaluate your advertising on an ongoing basis.
MAILING LISTS
* It is recommended that you do no direct mailings, except to your own list of customers and inquirers, until you have
thoroughly tested a specific product through advertising.
* Stay away from inexpensive mailing lists, under $40.00 -$50.00 per 1000.
* Avoid mailing lists whose owners make unrealistic claims.
* Work with a list broker who wants to see your product before he will rent you a list. Lists are rented for one time use.
* Lists from professional list brokers rent from $60.00 and
up, per thousand names.
* The general consensus is that you need to mail a minimum of 1000 names to get a fair reading. 5000 names would give you a more accurate test.
* Buyer' names are better than names of inquiries.
* The best mailing list is your own list of buyers. Second best is your own list of inquirers.
FOLLOW UP
* The most important factor in mail order is FOLLOW-UP
Substantial profits can be generated from this segment, if it is properly handled.
* You can generate a lot of sales by including promotional material when filling orders for customers. Other orders are generated from mailings that are made to former customers, as well as individuals who inquired about an offer in the past.
* Send out regular mailings to your customers. At a minimum,
four times per year. However, you can send out mailings as often as every 6 weeks or so, if you have a new product to offer.
* As you build your mailing lists and you send out regular
mailings, your orders will start flowing in.
RESEARCH AND EDUCATION
* Whether you are new to this field or not, to stay on top, you must continue your education by reading books and reports on mail order and subscribing to mail order publications.
* Always be on the lookout for new products you can offer your customers.
* Study the advertising of your competitors. Request their
material and study it.
* Study all mailings you receive.
Continue to learn about mail order by reading, experimenting, and talking with other mail order operators. Have patience. Success will not come overnight. It takes time to build a successful business. Start slowly and expand your business from your profits.
Good Luck!
Copyright 2004 by DeAnna Spencer