Tuesday, September 8, 2009
Monday, January 5, 2009
Disability Coverage
Disability insurance policies are designed to pay part of your wages should you be injured in an accident or are unable to work because of illness.
Here are 2 types of policies available: long-term disability and short-term disability.
Short term disability pays a portion of your wages should you be out of work due to injury for up to one year. Some employers pay for this benefit for their employees, some offer it for employees to purchase.
If you have a pre-existing medical condition, the time to enroll is during the initial enrollment period when a medical exam is not required.
Replacement of wages is only partial; insurance underwriters, as well as your employer, want you back at work as soon as possible. Usually there is a waiting period of 14 days in which you will not receive payment.
Long term disability policies are purchased to replace what your potential earnings would be from the time you become disabled until age 65 when Medicare would be available.
For instance, if you are 55 and make $40,000 per year, you should purchase a policy for $400,000.
You cannot get a long term disability policy if:
(1) you are or are soon to be pregnant,
(2) make less than $18,000 per year,
(3) are unemployed, or
(4) you are required to carry a weapon for your job.
Typically, the waiting period for long-term insurance to kick is at least 60 days and as much as a year.
Disability insurance is an important aspect of your overall insurance coverage plan, and if your employer offers it as a benefit you should definitely consider it as a wise investment.
Here are 2 types of policies available: long-term disability and short-term disability.
Short term disability pays a portion of your wages should you be out of work due to injury for up to one year. Some employers pay for this benefit for their employees, some offer it for employees to purchase.
If you have a pre-existing medical condition, the time to enroll is during the initial enrollment period when a medical exam is not required.
Replacement of wages is only partial; insurance underwriters, as well as your employer, want you back at work as soon as possible. Usually there is a waiting period of 14 days in which you will not receive payment.
Long term disability policies are purchased to replace what your potential earnings would be from the time you become disabled until age 65 when Medicare would be available.
For instance, if you are 55 and make $40,000 per year, you should purchase a policy for $400,000.
You cannot get a long term disability policy if:
(1) you are or are soon to be pregnant,
(2) make less than $18,000 per year,
(3) are unemployed, or
(4) you are required to carry a weapon for your job.
Typically, the waiting period for long-term insurance to kick is at least 60 days and as much as a year.
Disability insurance is an important aspect of your overall insurance coverage plan, and if your employer offers it as a benefit you should definitely consider it as a wise investment.
Thursday, December 4, 2008
Making Money with a Blog
If people ask you what is the easiest way to earn money? Mostly, online businesses are the easiest way to gain money.
Internet has made it possible for individuals to earn a living without the use of physical function. You only have to be skillful and knowledgeable about the different ways of dealing business online.
What you need to do is having your own website, but buying or creating one is extremely expensive. Even if you exert all you human efforts on researching, buying all the books but if you realize that you do not have millions; you will never be successful in this task.
You obviously need some money to finance your needs such as buying domain names, web space, advertising and other related expenses. However, there is another way to sell, it is by creating blogs.
Blogs are free and aside from that, there are many reasons way you can earn money easily by using blogs. This will be a sure success for you.
Remember that blogs do not require programming, web design and artistic skills, so it is easy to manage plus the set up is very easy.
You can go to the different websites that accepts blogs. Register for a new account and you can start posting your advertisements right after.
Blogging does not require many expenses. No associated cost needed with blogging. You can save up to piles of money by using blogs other than producing your websites.
A typical domain can cost you a lot of money while using blogs; you can create account without spending heaps of money. You can add blogs as many as you want.
Affiliate marketing is one among the easiest way to gain money without spending too much on making websites.
However, you need to pay the percentage of the merchandise that is sold through the site. It is better than building your own website. People use this type of business to describe their products through blogging and provide the links to their affiliate links to make commissions.
If you are always using the internet, you are aware of how difficult it is to get indexed on the different search engines online. Aside from that, getting a high rank on search engines is difficult as well.
In blogging, you do not need to wait for long time to be indexed by a particular search engine. One week time is enough for your blog to be seen over the different search engines.
Many online marketers generate income from Contectual Ads such as Google Adsense, once a person clicks contextual ads on your blog, you will be receiving revenues based on how many clicks your blogs have received. Imagine that easy? And there are still lots of income stream on the internet, such as Pay per Review, Pay Per Lead, Pay Per Sales, etc.
By blogging, you will have the chance to earn money the easiest way. You only need to be patience and determined to be able to gain success in the business.
Internet has made it possible for individuals to earn a living without the use of physical function. You only have to be skillful and knowledgeable about the different ways of dealing business online.
What you need to do is having your own website, but buying or creating one is extremely expensive. Even if you exert all you human efforts on researching, buying all the books but if you realize that you do not have millions; you will never be successful in this task.
You obviously need some money to finance your needs such as buying domain names, web space, advertising and other related expenses. However, there is another way to sell, it is by creating blogs.
Blogs are free and aside from that, there are many reasons way you can earn money easily by using blogs. This will be a sure success for you.
Remember that blogs do not require programming, web design and artistic skills, so it is easy to manage plus the set up is very easy.
You can go to the different websites that accepts blogs. Register for a new account and you can start posting your advertisements right after.
Blogging does not require many expenses. No associated cost needed with blogging. You can save up to piles of money by using blogs other than producing your websites.
A typical domain can cost you a lot of money while using blogs; you can create account without spending heaps of money. You can add blogs as many as you want.
Affiliate marketing is one among the easiest way to gain money without spending too much on making websites.
However, you need to pay the percentage of the merchandise that is sold through the site. It is better than building your own website. People use this type of business to describe their products through blogging and provide the links to their affiliate links to make commissions.
If you are always using the internet, you are aware of how difficult it is to get indexed on the different search engines online. Aside from that, getting a high rank on search engines is difficult as well.
In blogging, you do not need to wait for long time to be indexed by a particular search engine. One week time is enough for your blog to be seen over the different search engines.
Many online marketers generate income from Contectual Ads such as Google Adsense, once a person clicks contextual ads on your blog, you will be receiving revenues based on how many clicks your blogs have received. Imagine that easy? And there are still lots of income stream on the internet, such as Pay per Review, Pay Per Lead, Pay Per Sales, etc.
By blogging, you will have the chance to earn money the easiest way. You only need to be patience and determined to be able to gain success in the business.
Wednesday, August 13, 2008
Car Insurance Quote Tips
Do some research - Try to find some brokers who specialise in policies appropriate to your age, gender, make of car or occupation. One example might be the NFU [National Farmers Union] who do car insurance specially for farmers and give very competitive quotes. If you know someone who's got a similar car or occupation to yours, why not simply ask then who insures them? - Chat forums, owners club magazines and garages are all good sources of this kind of anecdotal information.
Be aware - those companies who can afford to do the highest profile advertising are probably not the cheapest!
Get on the phone - Once you've got some companies in mind, get on the phone - Car insurance brokers [3rd parties who are simply giving you a quote and not actually 'underwriting' your policy] often change who supplies their policies and just because they might have given you the best insurance quote in the past does NOT necessarily mean they're actually in a position to give you a competitive quote this time round.
Never take the first quote - The first quotes you'll get back for your car are likely to be on the high side - insurance companies capitalise on the fact that until you've received a few quotes you won't know what's actually a realistic quote - Never take the first quote you get, no matter how competitive it might seem!
Play companies off against each other! - Make thorough notes about all aspects of each quote that comes back and play the companies off against each other. There's no point in lying as most companies are all too aware of the REAL cost of a car insurance quote! Quickly you'll realise that the phone operatives have the ability to negotiate on the price of their quote and most of them would rather drop their prices than lose the business to a competitor...
If you're serious about getting the cheapest possible car insurance quote, be sure to:
- Ask for a higher 'excess'. Higher excesses usually reduce premiums!
- Mention any 'organisations' you are a member of - there might be a discount already arranged.
- Get Thatcham approved security devices fitted to your car.
- Consider how much mileage you're actually going to do - a 'limited mileage policy' is often the simplest way to get the best car insurance quote.
- Mention if the car's going to be kept off the road or is garaged.
- Mention if you have access to or drive a second car.
- Say if you are the member of an owners club - 'enthusiasts' represent a lower risk to insurance companies.
Finally -
Buying insurance can be confusing. Be aware that lying will invalidate your policy and most companies record their calls to cover themselves in case of litigation. Declare ALL modifications you've made to your car and if someone else is going to be driving the car or you're going to use it for business - mention it up front!
Remember - insurance companies are going through hard times and are always going to look for ways of minimising how much they have to pay out in the event of a 'total loss' - If their inspector turns up to the breakers yard and discovers a flip-painted fire-breathing VR6 with 19 inch alloy wheels in place of the 1 litre they'd been insuring, you'll be in trouble, possibly seriously!
And if you need Free Car Insurance Quotes, please try:
(Articles Taken from : http://www.matey-matey.com)
Tuesday, July 29, 2008
Zlio Store
Actually what I am going to talk now is like a pretty crazy idea. But it works to make me happy by shopping around (just like shopping without take out some money).
Maybe you heard about Zlio Store (http://www.Zlio.com)?
It’s free for the members to open a shop selling anything they want. So anyone could register and open a shop.
But what is the relation with shopping habits? Well, by opening a store you suppose to set op the product, what you are going to sell, the layout, and anything else. So, when you are choosing your product, it’s actually like shopping (at least for me it feels like shopping, I choose many beautiful, even luxurious items for my store display).
By choosing many items I want, I feel like shopping. I don’t buy anything but I am happy. Especially if there is somebody buys something through my store I will get some commission. Well, I think its worth to try.
Maybe you heard about Zlio Store (http://www.Zlio.com)?
It’s free for the members to open a shop selling anything they want. So anyone could register and open a shop.
But what is the relation with shopping habits? Well, by opening a store you suppose to set op the product, what you are going to sell, the layout, and anything else. So, when you are choosing your product, it’s actually like shopping (at least for me it feels like shopping, I choose many beautiful, even luxurious items for my store display).
By choosing many items I want, I feel like shopping. I don’t buy anything but I am happy. Especially if there is somebody buys something through my store I will get some commission. Well, I think its worth to try.
Thursday, July 24, 2008
Why Join Affiliate Program?
Now everything going expensive makes all adult have to think hard to make an extra income. While it is almost impossible getting raised salary this year; because the company itself has difficulties to survive.
So what can we do? Your needs might be delay, but how about your children education? And I believe you have needs that must be fulfilled.
In this case, I would like to introduce you to know more about affiliate program (if you still new to this). Affiliate program is a program that let you earn commissions for selling their products/services, or if you give the company leads (depend on the program requirements).
You don’t have to be a great programmer to have your own blog, instead you can learn by googling about how to make a blog. It’s like riding bicycle, what you need is keep practicing & learning.
You could also find many affiliate program directory on the internet, but for now I would like to introduce you to a very good choice of affiliate program, Pepperjam Network.
On Pepperjam Network, you could find many merchant that needs your effort to sell their product, or generate leads for them.
The payment would be twice a month. It will give you better cash flow. You could receive your money through paypal, checks, wire transfer, direct deposit, or google checkout, the choice is yours.
With an affiliate program directory such as Pepperjam, you could meet many merchant without doubt about the fairness of the payment. Pepperjam Network as program directory would guarantee that all your effort will be paid on time.
Imagine that you have 3 merchant and have to control and deal with all of them one by one, it will spend you more time, better have an affiliate program directory to be like the agent, it’s simpler for you.
And a good news for you that on July 2008, Pepperjam Network has promotion, that every new affiliate sign up will have a bonus of $10, hmmnnn….not bad, right?
They just want to show you how serious they are doing the business with you. So take your chance. It’s on July.
If you really want to earn more, you have no reason not to receive this offer.
You could do this affiliate marketing as your side job or part time job.
Remember economics is tough nowadays, if you have chances, you should take it. $10 is only the beginning, you could earn more with the Pepperjam Network program once you sign up, much more than $10.
So what can we do? Your needs might be delay, but how about your children education? And I believe you have needs that must be fulfilled.
In this case, I would like to introduce you to know more about affiliate program (if you still new to this). Affiliate program is a program that let you earn commissions for selling their products/services, or if you give the company leads (depend on the program requirements).
You don’t have to be a great programmer to have your own blog, instead you can learn by googling about how to make a blog. It’s like riding bicycle, what you need is keep practicing & learning.
You could also find many affiliate program directory on the internet, but for now I would like to introduce you to a very good choice of affiliate program, Pepperjam Network.
On Pepperjam Network, you could find many merchant that needs your effort to sell their product, or generate leads for them.
The payment would be twice a month. It will give you better cash flow. You could receive your money through paypal, checks, wire transfer, direct deposit, or google checkout, the choice is yours.
With an affiliate program directory such as Pepperjam, you could meet many merchant without doubt about the fairness of the payment. Pepperjam Network as program directory would guarantee that all your effort will be paid on time.
Imagine that you have 3 merchant and have to control and deal with all of them one by one, it will spend you more time, better have an affiliate program directory to be like the agent, it’s simpler for you.
And a good news for you that on July 2008, Pepperjam Network has promotion, that every new affiliate sign up will have a bonus of $10, hmmnnn….not bad, right?
They just want to show you how serious they are doing the business with you. So take your chance. It’s on July.
If you really want to earn more, you have no reason not to receive this offer.
You could do this affiliate marketing as your side job or part time job.
Remember economics is tough nowadays, if you have chances, you should take it. $10 is only the beginning, you could earn more with the Pepperjam Network program once you sign up, much more than $10.
Tuesday, July 1, 2008
Prices Going Crazy
Before the tough economics nowadays, I will have a full bag of snacks for USD 15 on grocery store, but now my bags getting thinner at the same amount of money.
I could only buy less with the same amount before. Due to the crazy increasing oil prices, everything gets much more expensive.
But what can I do? I don’t have the authority to determine the oil prices, neither you, I think.
So, what can we do to survive?
I hate to say this, but true, we have to be savvy, only buy what we need and not what we want. And at the same time we should try to get more extra income, because what we earn might not enough anymore.
But I get asked once by a friend, ”How can you earn more? Who would hire you now for a higher salary? Company fired people, not hire people anymore to survive themselves.”
Really? Is that so? I mean you should think out of the box if you think that way. You born not only to be an employee, you have more potential to be somebody else.
Here I will give you some idea to drive more ideas from you:
- Sell your home made cookies, puddings, pies, whatever you could do best at your home kitchen. Maybe at the beginning you just let your friends and neighbors know that you are able to make something nice for them at a fair price. It will bring you fun, you could do your hobby and it brings you money at the same time. Who knows that someday you will sell your pudding across the region?
- If you like pets, I believe people would like to ask you to look after their dogs & cats while they are out of town.
- Do you like gardening? Why don’t you put a banner on your gate saying, “We Sell plants & flowers, free delivery on certain areas.” Who knows they will drop by to buy some from you?
- If you like blogging, browsing or another internet activities, go ahead, start your own sites & blogs. There are lots of internet programs you could make money with, like: Parked.com, Kontera, Chitika, YouSayToo, and so on.
- If you think you are a pretty good writer, try to sell your articles to some media or media sites. If it’s a good idea & useful for readers I believe they don’t mind to pay you.
- Be a mentor, Nowadays lots of student needs private teacher to help them with their school lessons, be that one.
Basically just do what you could do best, then be creative. You could earn more by being creative at your best area. Start the steps. One mile journey starts from a single step.
Good Luck Guys, You Can Do It.
Thursday, June 26, 2008
Be Smart & Diligent on Grocery
Guys, how is the way you shop at grocery? You have a list about what you need and then do you grab it right away or you compare the price & quality of the same product range before you buy one?
Lets say you need to buy detergent. Brand A has 250gr packages cost you $2.0 and the 500gr cost USD 3.9 and the 1 kilos one cost you USD 7.5. Which one will you buy?
You also need to buy some toilet tissue. Brand B has a package of 6 rolls tissue cost USD 2,5 and a package of 12 tissues cost USD 5,2. Which one will you buy?
For detergent buy the 1 kilo packaging would be cheaper, but would better choose 2 package of 6 rolls toilet tissue rather the 12 rolls packaging.
The point is the bigger size sometimes cheaper, sometimes not; and this happens on every products.
You’d better be diligent be diligent while you shop. You might not earn as fast as you spend the money. So please take time ti think & compare before you grab things on grocery.
Nowadays everybody in the world suffers though economics and if you want to survive you have to be smart and wise.
Lets say you need to buy detergent. Brand A has 250gr packages cost you $2.0 and the 500gr cost USD 3.9 and the 1 kilos one cost you USD 7.5. Which one will you buy?
You also need to buy some toilet tissue. Brand B has a package of 6 rolls tissue cost USD 2,5 and a package of 12 tissues cost USD 5,2. Which one will you buy?
For detergent buy the 1 kilo packaging would be cheaper, but would better choose 2 package of 6 rolls toilet tissue rather the 12 rolls packaging.
The point is the bigger size sometimes cheaper, sometimes not; and this happens on every products.
You’d better be diligent be diligent while you shop. You might not earn as fast as you spend the money. So please take time ti think & compare before you grab things on grocery.
Nowadays everybody in the world suffers though economics and if you want to survive you have to be smart and wise.
Saturday, June 21, 2008
Is It Really Savvy?
I think you often see “Savvy Shopping at Us Today” or “Savvy Shopping bla bla bla here.” But do you think it will save your money ever?
Savvy meanings buy what is important that you need, it doesn’t have the same meaning with cheap.
Meanwhile the store/grocery you see is offering cheap price on certain/all items. Don’t you think it is economically buying rather than savvy.
If you need to buy a coke for USD 1, but you buy a package contains of 6 cokes for USD 5. What do you think? It’s savvy or economize? You only 1 coke only, but you buy 6 cokes which makes you spend more than you need.
Please realize & differ the economical prices from savvy. Especially in a though economics stage right now, you should be very wise in using your money.
Don’t let “Savvy” promotion trigger your impulse buying attitude. You could do better.
Savvy meanings buy what is important that you need, it doesn’t have the same meaning with cheap.
Meanwhile the store/grocery you see is offering cheap price on certain/all items. Don’t you think it is economically buying rather than savvy.
If you need to buy a coke for USD 1, but you buy a package contains of 6 cokes for USD 5. What do you think? It’s savvy or economize? You only 1 coke only, but you buy 6 cokes which makes you spend more than you need.
Please realize & differ the economical prices from savvy. Especially in a though economics stage right now, you should be very wise in using your money.
Don’t let “Savvy” promotion trigger your impulse buying attitude. You could do better.
Wednesday, June 4, 2008
Social Networking
I write this social networking post for intermezzo…..
I know lots of my friends like blogging, getting involves on certain forum, or else on the internet. Some of them do it for money (because they are truly internet marketers) and lots of them just for fun, they like meeting people and gather a lot of online friends.
Usually they do social networking on friendster, hubpages, myspace, squidoo…. I think you can browse more to know more…. Just type social networking and see what you get.
One of my friends invites me to join a social network last week, and what is so happening is…. This social networking pays for referring people hang out on their site.
At first I am so lazy to join one more social network…. But my friend in so nice that he remind me to give it a try, however I don’t lose anything, I just have to sign up, refer people and have fun there.
Even they have some programs that can generate money easily. So I don’t see why not.
Like my friend said, you can do it just for fun, or do is as one of your business. Or hmmnnnn…. Maybe both, It’s a fun way getting more pocket money.
However, check this social network yourself, or you can just sign up and start to play.
I know lots of my friends like blogging, getting involves on certain forum, or else on the internet. Some of them do it for money (because they are truly internet marketers) and lots of them just for fun, they like meeting people and gather a lot of online friends.
Usually they do social networking on friendster, hubpages, myspace, squidoo…. I think you can browse more to know more…. Just type social networking and see what you get.
One of my friends invites me to join a social network last week, and what is so happening is…. This social networking pays for referring people hang out on their site.
At first I am so lazy to join one more social network…. But my friend in so nice that he remind me to give it a try, however I don’t lose anything, I just have to sign up, refer people and have fun there.
Even they have some programs that can generate money easily. So I don’t see why not.
Like my friend said, you can do it just for fun, or do is as one of your business. Or hmmnnnn…. Maybe both, It’s a fun way getting more pocket money.
However, check this social network yourself, or you can just sign up and start to play.
Sunday, May 25, 2008
Make Your Own Home Office
This is not about how to design a home office, but to make sure that it’s so important for work at home moms to have their personal home office.
If you are a working at home mom, I believe you understand how precious is your working time, as you have to make your own time in the middle of family routine, take care of your husband, home & kids (the latest will take your very best, I believe)
Working at home meaning more flexible time schedules, also flexible dress code (you even can work wearing your kimono and slippers), and maybe you are used to access your business phone from your kitchen.
But it’s not recommended for you wearing kimono and slippers while you are working, please moms, be professionals. You are working; this is a business not an evening nap. The clothes you wear will influence your mood & attitude, and you can not risk your business in a wrong attitude. Although you are not wearing a formal cloth, at least you can try to wear a more proper one when you are on your working zone.
Okay, enough with the dress code, we are talking about home office here.
Do you often disturb by your kids when you are working, I mean they grab your files and throw it away, or they use your pen to draw on the wall so when you need it you have to ask their favor to give it back to you?
Imagine you have your own home office, then tell your kids, this is mommy’s office, mommy is not playing around here, mommy work for the good of the family, and can give better education, more toys if mommy work. Not only that, tell your kids that they should not playing on mommy’s office nor disturb mommy when mommy is in her office, it’s like they are not allowed to disturb somebody else on church.
You might not need to have a closed room for your personal office (especially if your house not big enough for you to have a closed room only for you), but you could try to have a working zone, a corner that you could work without disturbance, it’s like your personal zone.
A working zone is also important for you, hopefully it develops your mindset, you are a working at home mom, you have your own business, and you should work there, be professional. Make your own time to work, a time when the kids doing their own activity, time when the family activity is minimum.
A business is not a business yet until you do it. Keep remember this if you want to succeed in your business.
If you are a working at home mom, I believe you understand how precious is your working time, as you have to make your own time in the middle of family routine, take care of your husband, home & kids (the latest will take your very best, I believe)
Working at home meaning more flexible time schedules, also flexible dress code (you even can work wearing your kimono and slippers), and maybe you are used to access your business phone from your kitchen.
But it’s not recommended for you wearing kimono and slippers while you are working, please moms, be professionals. You are working; this is a business not an evening nap. The clothes you wear will influence your mood & attitude, and you can not risk your business in a wrong attitude. Although you are not wearing a formal cloth, at least you can try to wear a more proper one when you are on your working zone.
Okay, enough with the dress code, we are talking about home office here.
Do you often disturb by your kids when you are working, I mean they grab your files and throw it away, or they use your pen to draw on the wall so when you need it you have to ask their favor to give it back to you?
Imagine you have your own home office, then tell your kids, this is mommy’s office, mommy is not playing around here, mommy work for the good of the family, and can give better education, more toys if mommy work. Not only that, tell your kids that they should not playing on mommy’s office nor disturb mommy when mommy is in her office, it’s like they are not allowed to disturb somebody else on church.
You might not need to have a closed room for your personal office (especially if your house not big enough for you to have a closed room only for you), but you could try to have a working zone, a corner that you could work without disturbance, it’s like your personal zone.
A working zone is also important for you, hopefully it develops your mindset, you are a working at home mom, you have your own business, and you should work there, be professional. Make your own time to work, a time when the kids doing their own activity, time when the family activity is minimum.
A business is not a business yet until you do it. Keep remember this if you want to succeed in your business.
Tuesday, May 6, 2008
Make Different Account
Do you know exactly how much you spend for your internet provider this month? Or pay for your domain hosting? And how much you pay for your grocery? Have you paid your rent for the next 6 months? How about your car insurance, is it paid for this 3 months?
How much money do you exactly have in your account right now? Is it enough if you need some emergency funds in the next 3 days? And wait, do you still remember how much you paid for last week lunch with your client?
If you feel you can not answer to those question or questions like that, I think you need to manage your cash book once again. Can not answer such question meaning you might have a mess money management. Maybe you spend too much, maybe you mixed your personal expenses with your business account, which is not good.
Imagine if you mixed your personal account with your business account. You might be forget how much exactly each account has, and then when you feel you still have some extra money, you just don’t realize it is your business money and you should pay some business cost next week using that money….. You will get trouble next week I believe.
Actually it is so simple to manage your accounts if you have your own business. The very first step is having different account for each usage. Open different bank account for your business and your personal money, thus will be best if you have one more account which is your savings (don’t touch this money unless there is a certain emergency).
How much money do you exactly have in your account right now? Is it enough if you need some emergency funds in the next 3 days? And wait, do you still remember how much you paid for last week lunch with your client?
If you feel you can not answer to those question or questions like that, I think you need to manage your cash book once again. Can not answer such question meaning you might have a mess money management. Maybe you spend too much, maybe you mixed your personal expenses with your business account, which is not good.
Imagine if you mixed your personal account with your business account. You might be forget how much exactly each account has, and then when you feel you still have some extra money, you just don’t realize it is your business money and you should pay some business cost next week using that money….. You will get trouble next week I believe.
Actually it is so simple to manage your accounts if you have your own business. The very first step is having different account for each usage. Open different bank account for your business and your personal money, thus will be best if you have one more account which is your savings (don’t touch this money unless there is a certain emergency).
Have your own policy for each account, like:
- For your business account, you will never use the money for your personal use, it only use for the business inflow and outflow. You only pay your business cost, and every business income goes straight to this account. And if you need some money for business emergency, of course you could borrow from another account of yours, just don’t forget to pay it back ;)
- For your personal account, you will live only from this money; you cannot borrow money from another account of yours to buy grocery or other personal needs. You must discipline yourself to live with the amount (so calculate how much you need and live with it)
- Make an extra account for your savings, the money can come from your business profit (you could take certain percentage from your profit for your savings, beside some profit you might put back to develop your business) and also you might save the rest of your personal money if you could save some.
Having those personal account might be sounds some paperwork, but believe me, it worth. You only have to put the certain money on the right account. It’s like you have a different shoes for different occasion, it’s that simple.
The extra job you should do is periodically prints your book and monitors the amount and the book keeping, it’s that simple, once you get use to it, it will like riding a bicycle.
Having a business meaning you have a responsibility for reaching your goal, this only a small tip that might help you.
Thursday, April 17, 2008
You Need a Credit Score
Do you know that when you apply for credit card, a car loan, a mortgage, borrow some money to bank or other lenders, they will determine your credit risk by take a close look at your credit report, checking your credit history & view your credit score?
Most credit scoring will be calculated based on your total amount outstanding debt compared with your overall credit limits from all your lenders. Your score will be based on information of your bills payment history, your credit card, your loans or other bills (credit) you ever have.
Do you know that there are credit bureaus that keep file of every payment you make on all your debt to every creditor you have?
That’s all facts should make you understand why actually you need to have a good payment history to keep your credit score high.
And for your information, under a new Federal Law, you have the right to receive a free copy of your credit report once every 12 months from each of the 3 nationwide consumer reporting companies.
By always knowing & improving your credit score, you will qualify yourself for better rates & amount on loans from lenders.
But please understand that each bank & lender have their own scoring system to determine your credit risk. Credit score will range from 300-850. Most people will have score between 600-00. And if you have a score 720 or higher you will be in a better position when you need a mortgage, or any other loan you need.
A survey released by Consumer Federation of America found that lots of American consumers don’t have a good understanding of the importance of their credit report and how it could affect them.
By those facts above, you should give more attention to your credit score by using any credit you have on a high responsibility. You will never know that someday you will need your score, who will ever know that you will ever have to ask for additional card, additional loans (credits)? So, why you put risk on yourself?
What you need to do is actually be your best to pay your every bill on time. It’s that easy. You just need to be responsible of managing your credited amount.
Even if right now you are in a bad credit position, you don’t need to have a low confidence, your credit score will constantly change every month based on your debts, payments and all your credit activity.
Thus now there are many companies that will help you analyze your credit score & help you improving your credit rating. So just get help if you couldn’t help yourself.
Additional fact you should know:
Fritz Elmendorf, the vice president of communication for the Consumer Bankers Association, once said, “If you have a credit score of 700 or higher, you can be confident of qualifying for the best rates. And if you are below 680, you are going to have trouble qualifying for the best rate. But you should still shop for the best rate you qualify for.”
Most credit scoring will be calculated based on your total amount outstanding debt compared with your overall credit limits from all your lenders. Your score will be based on information of your bills payment history, your credit card, your loans or other bills (credit) you ever have.
Do you know that there are credit bureaus that keep file of every payment you make on all your debt to every creditor you have?
That’s all facts should make you understand why actually you need to have a good payment history to keep your credit score high.
And for your information, under a new Federal Law, you have the right to receive a free copy of your credit report once every 12 months from each of the 3 nationwide consumer reporting companies.
By always knowing & improving your credit score, you will qualify yourself for better rates & amount on loans from lenders.
But please understand that each bank & lender have their own scoring system to determine your credit risk. Credit score will range from 300-850. Most people will have score between 600-00. And if you have a score 720 or higher you will be in a better position when you need a mortgage, or any other loan you need.
A survey released by Consumer Federation of America found that lots of American consumers don’t have a good understanding of the importance of their credit report and how it could affect them.
By those facts above, you should give more attention to your credit score by using any credit you have on a high responsibility. You will never know that someday you will need your score, who will ever know that you will ever have to ask for additional card, additional loans (credits)? So, why you put risk on yourself?
What you need to do is actually be your best to pay your every bill on time. It’s that easy. You just need to be responsible of managing your credited amount.
Even if right now you are in a bad credit position, you don’t need to have a low confidence, your credit score will constantly change every month based on your debts, payments and all your credit activity.
Thus now there are many companies that will help you analyze your credit score & help you improving your credit rating. So just get help if you couldn’t help yourself.
Additional fact you should know:
Fritz Elmendorf, the vice president of communication for the Consumer Bankers Association, once said, “If you have a credit score of 700 or higher, you can be confident of qualifying for the best rates. And if you are below 680, you are going to have trouble qualifying for the best rate. But you should still shop for the best rate you qualify for.”
from : http://www.my-pp.info/
Wednesday, April 9, 2008
When to Teach Your Kids about Money
Kids cannot earn money themselves because of their age, and this fact may cause them not appreciative about the value of money they get. Kids only realized that they need money to buy ice creams, toys, and else. When they beg long enough, they will get what they want.
It is an important issue for parents to teach their kids about money, where it comes from, how to get it, how they should use it and else.
The best time to teach your kids about money depends on their maturity of understanding things and their mathematical level. Do they understand denomination, numbers, and basic mathematical ability (such as addition, substraction, multiplication)?
You can learn whether your kids are ready for allowance responsibility. You will notice when they can resist the temptation of what they want, whether they can delay their gratification, and whether they understand that sometimes they cannot buy whatever they want.
Above all, your kids will actually learn about money themselves by following your examples. Kids learn fast from what they see and not from what you say. That is why it is important for them if you could lead a good example about how to deal with money.
Thursday, April 3, 2008
What to Teach Your Kids about Money
When your kids understand the difference between each money denomination, they are supposed to be able to determine how much they should pay for ice cream, candy, snacks, etc.
What you should teach them is the responsibility in regards to their personal allowance. An allowance will be a useful teaching tool to pass each money lesson to your kids.
There are several things you can teach by giving allowance to your kids:
The resistance of temptation.
It is important for kids to understand that they have to make choices on what they want as they cannot have it all. They have to train themselves on what to buy, and when.
The importance of savings.
Kids supposed to have their own savings to buy things beyond their allowance. They should wait until they have enough money to buy it. Kids can discipline themselves to save at least 10% of their allowance for their unpredictable needs.
The usage of bookkeeping.
You may teach your kids to take a note of their allowance, savings and expenditures so that they will learn to see how they spend their money. This habit will bring the kids advantages in the future as they will hold more money than an allowance.
The ability of logical thinking.
By giving them the chance to manage their own allowance and freedom to buy what they want with their allowance, you develop the ability of logical thinking on your kids. They will learn how much the normal price of an ice cream, which one is better whether buying books or buying a sticker. By giving them chances to analyse their expenditures, you actually develop their logical thinking.
The knowledge that money has to be earned.
You can offer your kids for some extra allowance by doing housework within their age, such as watering the garden, washing dishes, help you wash the car and else. They will appreciate the money that they earn themselves.
There are still a lot of things to teach your kids about money. It is important to teach them to be responsible as soon as they can understand.
Responsibility is like a habit, it has to be trained and disciplined
What you should teach them is the responsibility in regards to their personal allowance. An allowance will be a useful teaching tool to pass each money lesson to your kids.
There are several things you can teach by giving allowance to your kids:
The resistance of temptation.
It is important for kids to understand that they have to make choices on what they want as they cannot have it all. They have to train themselves on what to buy, and when.
The importance of savings.
Kids supposed to have their own savings to buy things beyond their allowance. They should wait until they have enough money to buy it. Kids can discipline themselves to save at least 10% of their allowance for their unpredictable needs.
The usage of bookkeeping.
You may teach your kids to take a note of their allowance, savings and expenditures so that they will learn to see how they spend their money. This habit will bring the kids advantages in the future as they will hold more money than an allowance.
The ability of logical thinking.
By giving them the chance to manage their own allowance and freedom to buy what they want with their allowance, you develop the ability of logical thinking on your kids. They will learn how much the normal price of an ice cream, which one is better whether buying books or buying a sticker. By giving them chances to analyse their expenditures, you actually develop their logical thinking.
The knowledge that money has to be earned.
You can offer your kids for some extra allowance by doing housework within their age, such as watering the garden, washing dishes, help you wash the car and else. They will appreciate the money that they earn themselves.
There are still a lot of things to teach your kids about money. It is important to teach them to be responsible as soon as they can understand.
Responsibility is like a habit, it has to be trained and disciplined
Saturday, March 22, 2008
Pocket Money 101 ......for Your Kid
As working moms maybe you are so busy already with your personal business and make your kids lack of attentions. To some people it may end buying their kids attention by giving more money allowance.
Maybe then you doubt about when, how much and how often your kid will need allowance. But remember that it’s more to keep an eye on how he is using the money.
So here are some issues you ‘d better know about your kid’s pocket money:
Do you need to give allowance to your little kid?
When your kid is still a little boy and stay around you, actually he does not need allowance. What you need to do is only telling him that you will try to fulfill what his needs are, he just has to ask. When he is older and often left alone at home, you might need to give him some allowance to buy extra food.
What happens if your kid play with the ‘rich’ kids ?
It will bring you headache when your kid play around with the ‘rich’ kids on the neighborhood whose parents might earn a lot of money. If this happens, you should explain to him that although he does not have much allowance comparing to his friends, he still can have fun and play with them, also teach them that money has nothing to do with the value of a person.
When is the best time to teach your kid about savings account?
For a kid under 5 years old, it is best for him to use the “Piggy Bank’ at home. When he is 8-12 years old, you might need to open a bank savings account under his own name. At this age, you can start to teach him about the interests he will earn. This lesson might give him the idea to cut his expenditures and put the money into his account.
What else should you teach your kid about his savings?
Well, you can tell him that on the money he saves, he has the right to use it to buy something he needs, maybe he wants to buy a personal gift. This lesson will teach him the freedom to manage (use) his own money.
As your kid grows older, you can add his allowance, until he can manage to fulfill his own needs. What you need to achieve here is to train him to have a balance between what he has and his expenditures, between his needs and impulsive shopping.
A kid can be ridiculously mad at his parents when you refuse to buy what he wants. On the other hand, you might buy expensive clothes for your spouse as a present. In this case, you can tell him that what you buy is an exceptional, and next time there will be another family member who will be granted the special items for a special occasion.
As good parents, you often need to give your kid a punishment when it is needed. It is advisable for you not to cut his allowance as a punishment. The impact of your punishment may create a new problem for your kid. Your kid may have a plan to buy a present for his birthday friend, and he will feel ashamed as he has to broke his promise, he will feel worry and maybe afraid to be rejected by his friends. It is better for you to think of another punishment.
How much should you give your kid for allowance?
It depends on what he needs. The allowance should not be too little or too much. When you have an extra income or salary increased, you should not be obligated to give him more than it should be. He should understand that his allowance is a part of flexibility you give as parents.
What should you do when your kid ask you for more allowance?
You can say yes if he has a logical reason of why you should give him extra. You need to tell him that the special case should not become a habit. Instead of asking you for more, he can make a choice next time he needs something.
How about giving your kid extra money for doing housework?
Actually, be a part of housework is a must for the family members, However, you should be careful for this issue. Your kid may refuse you next time you ask him a favor when there is no money involved. It is better for you to give him a chance to earn money only once in a while, do not make it as a habit.
The final question every parent might ask is…. When can you stop giving him allowance?
Well, in this case, you should wait until he is an adult and can earn money for him self. When this time comes, you can stop giving him allowance, and change into giving him support to save and manage what he earns wisely
Maybe then you doubt about when, how much and how often your kid will need allowance. But remember that it’s more to keep an eye on how he is using the money.
So here are some issues you ‘d better know about your kid’s pocket money:
Do you need to give allowance to your little kid?
When your kid is still a little boy and stay around you, actually he does not need allowance. What you need to do is only telling him that you will try to fulfill what his needs are, he just has to ask. When he is older and often left alone at home, you might need to give him some allowance to buy extra food.
What happens if your kid play with the ‘rich’ kids ?
It will bring you headache when your kid play around with the ‘rich’ kids on the neighborhood whose parents might earn a lot of money. If this happens, you should explain to him that although he does not have much allowance comparing to his friends, he still can have fun and play with them, also teach them that money has nothing to do with the value of a person.
When is the best time to teach your kid about savings account?
For a kid under 5 years old, it is best for him to use the “Piggy Bank’ at home. When he is 8-12 years old, you might need to open a bank savings account under his own name. At this age, you can start to teach him about the interests he will earn. This lesson might give him the idea to cut his expenditures and put the money into his account.
What else should you teach your kid about his savings?
Well, you can tell him that on the money he saves, he has the right to use it to buy something he needs, maybe he wants to buy a personal gift. This lesson will teach him the freedom to manage (use) his own money.
As your kid grows older, you can add his allowance, until he can manage to fulfill his own needs. What you need to achieve here is to train him to have a balance between what he has and his expenditures, between his needs and impulsive shopping.
A kid can be ridiculously mad at his parents when you refuse to buy what he wants. On the other hand, you might buy expensive clothes for your spouse as a present. In this case, you can tell him that what you buy is an exceptional, and next time there will be another family member who will be granted the special items for a special occasion.
As good parents, you often need to give your kid a punishment when it is needed. It is advisable for you not to cut his allowance as a punishment. The impact of your punishment may create a new problem for your kid. Your kid may have a plan to buy a present for his birthday friend, and he will feel ashamed as he has to broke his promise, he will feel worry and maybe afraid to be rejected by his friends. It is better for you to think of another punishment.
How much should you give your kid for allowance?
It depends on what he needs. The allowance should not be too little or too much. When you have an extra income or salary increased, you should not be obligated to give him more than it should be. He should understand that his allowance is a part of flexibility you give as parents.
What should you do when your kid ask you for more allowance?
You can say yes if he has a logical reason of why you should give him extra. You need to tell him that the special case should not become a habit. Instead of asking you for more, he can make a choice next time he needs something.
How about giving your kid extra money for doing housework?
Actually, be a part of housework is a must for the family members, However, you should be careful for this issue. Your kid may refuse you next time you ask him a favor when there is no money involved. It is better for you to give him a chance to earn money only once in a while, do not make it as a habit.
The final question every parent might ask is…. When can you stop giving him allowance?
Well, in this case, you should wait until he is an adult and can earn money for him self. When this time comes, you can stop giving him allowance, and change into giving him support to save and manage what he earns wisely
Friday, March 14, 2008
Tips for working at home moms
Often moms choose to run a home based business for extra earning, so they still can have quality time with their children & family.
However, business is business to be run although often moms can’t make a business time alone. It needs extra effort to work without children annoyance.
So, I want to share 5 tips for working at home moms:
However, business is business to be run although often moms can’t make a business time alone. It needs extra effort to work without children annoyance.
So, I want to share 5 tips for working at home moms:
- Give your children something to do. When you needs concentration, better to do it when children go to school or have somebody play & watch over them.
- Make yourself a working space, better if you have your own home office. But if you don’t have extra room, a corner space of your own would be enough. Explain to your kids that this is mommy office and mommy should not be bothered when she is working there.
- Make yourself a schedule. It’s important as without a schedule you will tend to working around on so many things but not achieve much. And the most important thing, do your schedule without any excuses.
- Be professional, although you might be used to wear whatever you like at home, you should look at yourself as a businessman. This will improve your business attitude as well.
- Give your spouse understanding; ask him to help you with the children especially when you are busy. But please however family comes first as the main reason you are running home based business is for having quality time with your family.
- Make list to do for your household activity as well, so you can be sure that it’s well taking care of.
Hope that list helps you working better at home.
You won’t be perfect at the beginning, but as the time goes by, I am sure you will be a better and efficient working at home moms. Don’t worry.
And if you have more opinions, suggestions, please feel free to write to me on the email below, Perhaps I would put it in this blog to be shared with other as well.
Monday, March 3, 2008
Working Moms
Today I read my friend’s blog, and she tells her story as ‘working moms’. It’s very interesting, when she said that what challenge her to work from home is because she can not get up early in the morning, so wake up and go to the office is so not her.
Also that she want to be with her kids most of the time give her no choice than working from home. She can continue her sleep after the kids go to school. And then she can work at her own flexible time.
So, how about you? How about your wife? Are those 2 reasons gives enough reason to start a home business? Maybe you are interested in the growing up of internet business?
My friend said that it’s not easy at all to start work at home, to leave all the comfort she got from her monthly salary and benefit. But she has no choice. She wants quality time with her family.
And when it comes to the times of troubles, she keep on fighting, she stop to rest before she continue to fight the problems. What a mom she is.
She started as a freelance on the internet with USD 10 per article, and then she sold her friend product with 10% commission, and here she is now…. She can live well from her income (so sorry that I don’t mention her name here, as her blog is in Indonesian language only).
When you ask her whether she is satisfied with her achievement, she humbly said, satisfaction is not only about money, but family quality time also counted.
Talking about her dream, she dream to help others, not only material help but also motivate others to start a home based business.
What a woman and what a mom she is. My full respect for her.
Don’t you want to be like her? It must be great to work at home, give more choices of being a mom and working at the same time.
Imagine, by being a working mom, you not only achieve something for yourself, but also you are leading an example for your daughters that being a mom is not meaning all you career is over. A mom could be as productive as before and even more.
Please have a thought to be someone you want to be, someone who could bring good thing to her love ones.
Also that she want to be with her kids most of the time give her no choice than working from home. She can continue her sleep after the kids go to school. And then she can work at her own flexible time.
So, how about you? How about your wife? Are those 2 reasons gives enough reason to start a home business? Maybe you are interested in the growing up of internet business?
My friend said that it’s not easy at all to start work at home, to leave all the comfort she got from her monthly salary and benefit. But she has no choice. She wants quality time with her family.
And when it comes to the times of troubles, she keep on fighting, she stop to rest before she continue to fight the problems. What a mom she is.
She started as a freelance on the internet with USD 10 per article, and then she sold her friend product with 10% commission, and here she is now…. She can live well from her income (so sorry that I don’t mention her name here, as her blog is in Indonesian language only).
When you ask her whether she is satisfied with her achievement, she humbly said, satisfaction is not only about money, but family quality time also counted.
Talking about her dream, she dream to help others, not only material help but also motivate others to start a home based business.
What a woman and what a mom she is. My full respect for her.
Don’t you want to be like her? It must be great to work at home, give more choices of being a mom and working at the same time.
Imagine, by being a working mom, you not only achieve something for yourself, but also you are leading an example for your daughters that being a mom is not meaning all you career is over. A mom could be as productive as before and even more.
Please have a thought to be someone you want to be, someone who could bring good thing to her love ones.
Saturday, February 23, 2008
How to Start a Retail Business
Also I find this interesting article for you….. hope could be useful for all of you.
How to Start a Retail Business... Even If You Know Nothing About Retail
By Michael Masterson
Lots of people who want to get into business for themselves come up with the idea of opening a store. They hope it will provide them with income and, presumably, some equity that they can "cash in" or perhaps leave to their children. This is a common entrepreneurial dream. It seems pretty simple. People come in. You help them shop. They buy stuff. You make a profit.
Of course, it's not that easy.
Kristie Parks knows that, and that's why she wrote to me recently. She's a 48-year-old woman who doesn't have any business background. But her plan is to open a shop where she can sell clothes and other related products.
"Something went wrong when my husband and I purchased a house. I have less funds now. But I was just about to rent a shop and fill it with clothes and start to sell," Kristie wrote. "Then I read something in ETR that made me think I might go wrong again."
My first recommendation for Kristie - and anyone else who wants to make a living with a retail operation - is to buy a copy of my newest book, Ready, Fire, Aim. (It will be published in January.) It explains what I know about launching and growing all kinds of entrepreneurial businesses.
As I point out in the book, most retail businesses fail. The main reason they fail is because they are opened by people who have no experience. They don't know which products will sell and which won't. They don't know how to price their merchandise. They don't know anything about the management side of the business. But most of all, they don't know how to get enough customers to walk through their door.
That's the biggest problem. Not knowing how to bring in prospects and turn them into cash customers. There are many examples in the book that will give you ideas about how to do that. There are also some important rules and principles to follow during the first, critical stage of your business's growth. But rather than have you wait till the book comes out in two months, here are a few steps you can start taking now:
Step 1. Figure out how many dollars' worth of products you will need to sell in order to pay all your expenses every month. Not just product costs but overhead as well. Let's say that number is $10,000.
Step 2. Find out how much the average customer spends on a purchase in similar stores in your local area. You can do this by making friends with shop owners and asking them. Let's say the average customer spends $25.
Step 3. Divide the total dollars you need by the amount of the average sale. That will tell you how many paying customers you need to bring in every month to survive. $10,000 divided by $25 is 400. So you need to bring in 400 paying customers every month.
Step 4. During the start-up phase of your business, you should be spending most of your time on advertising. So now develop a marketing plan that will attract that many customers. Run this plan by anyone you know who has retail experience to make sure it is sound.
Step 5. Make any needed revisions to your marketing plan, and then get to work implementing it.
There are plenty of other things I talk about in Ready, Fire, Aim that may be helpful to you. Among them:
How to Start a Retail Business... Even If You Know Nothing About Retail
By Michael Masterson
Lots of people who want to get into business for themselves come up with the idea of opening a store. They hope it will provide them with income and, presumably, some equity that they can "cash in" or perhaps leave to their children. This is a common entrepreneurial dream. It seems pretty simple. People come in. You help them shop. They buy stuff. You make a profit.
Of course, it's not that easy.
Kristie Parks knows that, and that's why she wrote to me recently. She's a 48-year-old woman who doesn't have any business background. But her plan is to open a shop where she can sell clothes and other related products.
"Something went wrong when my husband and I purchased a house. I have less funds now. But I was just about to rent a shop and fill it with clothes and start to sell," Kristie wrote. "Then I read something in ETR that made me think I might go wrong again."
My first recommendation for Kristie - and anyone else who wants to make a living with a retail operation - is to buy a copy of my newest book, Ready, Fire, Aim. (It will be published in January.) It explains what I know about launching and growing all kinds of entrepreneurial businesses.
As I point out in the book, most retail businesses fail. The main reason they fail is because they are opened by people who have no experience. They don't know which products will sell and which won't. They don't know how to price their merchandise. They don't know anything about the management side of the business. But most of all, they don't know how to get enough customers to walk through their door.
That's the biggest problem. Not knowing how to bring in prospects and turn them into cash customers. There are many examples in the book that will give you ideas about how to do that. There are also some important rules and principles to follow during the first, critical stage of your business's growth. But rather than have you wait till the book comes out in two months, here are a few steps you can start taking now:
Step 1. Figure out how many dollars' worth of products you will need to sell in order to pay all your expenses every month. Not just product costs but overhead as well. Let's say that number is $10,000.
Step 2. Find out how much the average customer spends on a purchase in similar stores in your local area. You can do this by making friends with shop owners and asking them. Let's say the average customer spends $25.
Step 3. Divide the total dollars you need by the amount of the average sale. That will tell you how many paying customers you need to bring in every month to survive. $10,000 divided by $25 is 400. So you need to bring in 400 paying customers every month.
Step 4. During the start-up phase of your business, you should be spending most of your time on advertising. So now develop a marketing plan that will attract that many customers. Run this plan by anyone you know who has retail experience to make sure it is sound.
Step 5. Make any needed revisions to your marketing plan, and then get to work implementing it.
There are plenty of other things I talk about in Ready, Fire, Aim that may be helpful to you. Among them:
- Don't sign a long-term lease or buy a shop during your first year. In fact, try not to get yourself into any sort of debt.
- Choose a strong retail location with good pass-by traffic - traffic that would be interested in the type of products you will be selling.
- While you are still testing your marketing plan, keep your advertising expenses as low as possible. It may take several years to arrive at a strategy that works. Make sure you have enough money in the bank to last until you can figure that out.
- Come up with a USP (unique selling proposition) for your store. What can you offer customers that nobody else in the neighborhood can?
Those are just a few ideas to get you started. You'll find lots more in the book.
Tuesday, February 19, 2008
Why Would Someone Want to Buy What You're Selling?
Today, as I am looking for ideas, I find this interesting article by my favorite writer on my collection.
I think this article could be useful for you who looking for something to sell, at least you have to find out what kind of product are you going to getting involved with.
Why Would Someone Want to Buy What You're Selling?
By Michael Masterson
There are two kinds of products: need-to-have products and want-to-have products. Knowing which kind you are selling is critically important to your success.
Need-to-have products include houses, furniture, food, water, and electricity. Selling these products is usually a matter of providing good value. The great thing about need-to-have products is that customers keep on buying them. The difficulty is that you are usually competing against a host of like products - so the pressure to keep rates low is enormous. (Think airline travel. Think coffee.)
Want-to-have products include jewelry, perfume, draperies, and art. To sell these products, you need to create a perceived value for them. You also need to create the desire in your customers to own them - and that takes a great deal of skill. What's great about want-to-have products is that they tend to be viewed as being unique. So if you promote them properly, you can charge a lot of money.
Most products are not clearly one way or the other. In that case, you need to make a decision as to which way you are going to push your marketing.
Take coffee, for example. If you want to sell your coffee beans to the need-to-drink market, you'll have to accept very small profit margins. You'll have to cut big deals and move a ton of beans. Once locked in with vendors, you might enjoy very good ongoing business and very nice (though small, percentage-wise) profits. But you won't have to keep on selling very hard.
If, on the other hand, you want to position your coffee beans to the want-to-drink market, you will have to come up with a good reason why people should pay a premium price for them - and you'll have to keep the creative process going to continue to support your argument.
I think this article could be useful for you who looking for something to sell, at least you have to find out what kind of product are you going to getting involved with.
Why Would Someone Want to Buy What You're Selling?
By Michael Masterson
There are two kinds of products: need-to-have products and want-to-have products. Knowing which kind you are selling is critically important to your success.
Need-to-have products include houses, furniture, food, water, and electricity. Selling these products is usually a matter of providing good value. The great thing about need-to-have products is that customers keep on buying them. The difficulty is that you are usually competing against a host of like products - so the pressure to keep rates low is enormous. (Think airline travel. Think coffee.)
Want-to-have products include jewelry, perfume, draperies, and art. To sell these products, you need to create a perceived value for them. You also need to create the desire in your customers to own them - and that takes a great deal of skill. What's great about want-to-have products is that they tend to be viewed as being unique. So if you promote them properly, you can charge a lot of money.
Most products are not clearly one way or the other. In that case, you need to make a decision as to which way you are going to push your marketing.
Take coffee, for example. If you want to sell your coffee beans to the need-to-drink market, you'll have to accept very small profit margins. You'll have to cut big deals and move a ton of beans. Once locked in with vendors, you might enjoy very good ongoing business and very nice (though small, percentage-wise) profits. But you won't have to keep on selling very hard.
If, on the other hand, you want to position your coffee beans to the want-to-drink market, you will have to come up with a good reason why people should pay a premium price for them - and you'll have to keep the creative process going to continue to support your argument.
Subscribe to:
Posts (Atom)
