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The One Thing Entrepreneurs Need To Survive

The One Thing Entrepreneurs Need To Survive

►Survivability

 

Regardless of what sort of business you possess (online marketer, offline business, realtor, barber, hairstylist etc…) there is always a slow season. It is that season when clients are rare, or when customers set out toward excursion areas. As far back as the beginning of trade more than 3,000 years prior, there has been a business cycle. Any individual who utilizes time timekeepers realizes that a few months are occupied and some are slack. That is a reality of living and working in a created economy. The question is how to survive the slow times, and how to do so profitably.

 

Nearly every business owner has cash flow ups and downs, but you must have the mindset to survive during the down times. If this is the case in your field, then make sure to cut spending in times of slow business. During the months when there is little revenue, you should not have to spend as much on day-to-day operations. Off-season chores should also include planning and perhaps budgeting if there is no other time to do so.

 

 

There are so many challenges involved in every investment such as inflation and competition from other similar institutions. Sometimes you will enjoy good profits and at other times little or no profit at all. Be wise and take advantage when your business is at it’s best. For instance, offer gifts to your customers to make them come for more. This will promote your business and even attract more customers. Another good way to promote your business is by sending postcards to your customers once in a while as a sign of appreciation. It’s extremely important to say thank you to your clients every time they come to your store. This will not only make them happy but also strengthen your relationship.

 

Have a suggestion box where your clients will be able to air their views privately. By doing this, you will be able to know when you need to do correction. Review your business plan once in a while and see if you are following the right procedures regarding your goals. Arrange a meeting with your employers once a while discuss issues regarding your business. Their salary should be able to meet their needs in order to maintain them and to avoid theft. Advertise your store even during tough times to help you reach more customers and also to avoid losing your existing clients. It’s your responsibility to improve your skills and knowledge regarding financial aspects of your business. With good knowledge, you will impress your clients and make them come for advice whenever they encounter difficulties.

 

Always take control on your expenses in order to maintain a steady flow income. Purchase only the important items to keep your business running. It’s also good avoid buying slow moving goods in plenty since this will only reduce the cash flow. If you are still holding some stock during hard times, sell it off and use the money to cater for other expenses such as paying the house rent and paying your employees. If your business is still at a stand still, lowering your profit margin a little less will help keep the new business moving. This will make a big difference in maintaining your clients.

 

I hope you have received some value or tips that will help you survive during the difficult times in business.

 

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How To Make Money From Your Blog

How To Make Money From Your Blog

Your blog is set up and ready to go and your ready to start making money from your blog or in other words, monetizing it. However, you may be wondering how in the world do I accomplish that right? Well, don’t fret because this blog post will hopefully guide you in the right direction.

 

To kick this thing off with probably the best tip of the several ways to make money with you blog is:

Email marketing to your own list is the best way to make money with your blog.

 

List building is vital in building your online or offline business empire. As some marketers would say, including me the money is in the list. To help build my list I offer a FREE E-book to entice subscribers to submit their information. After which, continue to provide valuable content like sending your blog to your list.

 

With that being said, let’s get on to several ways to make money from your blog:

1)Google Adsense

Some people create a self-hosted blog solely for ads and Google AdSense is one of the most popular ad networks around. Simply put, you make money by displaying ads on your site. There are two ways to start earning cash from Google AdSense:

 

  1. Based on impressions: This depends on page views. For instance, for every 1,000 page views you get, you earn a set dollar amount.
  2. Based on clicks: Regardless of page views, if a visitor clicks on the ad from your site, you’ll earn a certain cut of the ad revenue. This can range anywhere from $0.01 to a couple of dollars depending on the ad.

 

AdSense is compatible with free Blogger blogs and self-hosted WordPress blogs, but keep in mind that it won’t work with a free WordPress blog (although you can monetize with WordAds if you have a custom domain).

How much can you make with AdSense? Well, that all depends on your traffic and how many people are willing to click on your ads. (Remember that you should never click on your own ads since Google can penalize you for it.) Pat Flynn of Smart Passive Income has reported earning upwards of $3,000 per month on AdSense revenue alone, but other bloggers like Spencer Haws of Niche Pursuits have reported earnings well over $10,000 per month.

 

2)Paid Banner Ads

If you’re generating a decent amount of traffic, you might be approached by a business looking to sponsor your site. There are usually two requests you get in these cases:

  1. Paid reviews or sponsorship posts
  2. Banner ads

Paid reviews are when the business sends you their product and pays you to write a review about it, but you are not obligated to write a positive review. Alternatively, some businesses will sponsor a specific post in exchange for a link back to their site. It is an ethical practice to disclose the sponsorship to your readers.

Banner ads are just what they sound like. They’re ads you place in “banner” style, usually in your sidebar. The business sponsoring the ad will often pay you monthly to keep the ad up on your site.

 

3)Affiliate Marketing

Affiliate marketing is one of the most popular (not to mention quickest) ways to make money from your website or blog.

Start by finding a product you like and would recommend. Then on your website, you endorse the product and promote it to your website visitors and email subscribers. If the product or service resonates with these people, they’ll click on your affiliate link, purchasing the product (while you get a split of the sale price).

The commission might be anywhere from 30% of the product or service price, up to as high as 70%. So for example, if the split is 50% and you promote an e-book that costs $100, you’ll get $50 for simply referring the buyer. Pretty sweet deal, huh?!

 

Where can I find products to promote?

  • Commission junction – offers reliable products with on-time payments.
  • ShareASale – mostly clothes, accessories, and other offline goods.
  • Clickbank – high percentage payouts, but there’s a lack of GOOD products to promote.

 

4)Sell Your Own Digital Products

You have the potential to make the most money on a per sale basis when you can sell your own directly.

That’s because there’s no middle-man or person in between you and the buyer that’s taking a ‘cut’ from the money earned.

This approach seems fairly straightforward because you can simply sell these products directly through your website and get paid immediately. Unfortunately, it’s not that simple in reality.

Creating good products that are well made and polished require a ton of time and additional resources (like design, content, etc.). So there’s a lot of ‘hidden costs’ in both time spent or contractors to collaborate with. Selling your own products on your site also bring up problematic issues like payment gateways (how are you going to collect payment?), shipping (how are you going to mail or distribute the products?) and taxes (oh man, don’t get me started).

And if that doesn’t sound like enough work already, you’ll also need a well designed, persuasive landing page to make sure your product has a strong conversion rate.

 

I’m certain that there are many more ways to make money from your blog and/or monetize it. Before you search for more ways, consider implementing those that I have mentioned above to fully capitalize on making money from your blog.

 

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