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Archives
July 14, 2010
What's in a Name? Big Money!... Should You Stick to Your
Budget?... The End of Boardroom Deal Making... Summer
Holiday Success for Info Marketers...
and More.
What's in a Name? Big Money!
By Adrian Newman, Founder of e-Wealth Daily
Naming your business is one of the most important
entrepreneurial decisions you will make.
Especially if you are looking to turn your business into a brand.
Just take a look around and you'll see the power of brand
names at work. Heck, some brand names have even become
synonymous with the products they represent. I can't remember
the last person who asked for a facial tissue; we all ask for a "Kleenex."
Whether your venture is big or small, finding the right name
for your business is vital, which can make choosing the right
name a difficult decision to make.
That's because you want people not only to remember your
business name, but also to be able to identify your product or
service with that name.
You want your prospective customers to be able to easily find
your name in a phone book and then share your business name
with friends and colleagues who could also use your services.
This means your business name must be easy to remember and
easy to pronounce as well.
Where do you start when deciding what to name your
business?
If you're working on your own and running a business based
almost entirely on your reputation, consider using your given
names as your business name. That way you create a direct
connection between your service and your name. Your
customers will know exactly who to call when they want your
service.
By using your given name, you also create a level of trust with
your customers from the onset. You're not hiding behind a
clever name, so your customers know they are dealing directly
with you.
On the other hand, if you want your company to focus on your
product or service more than you personally, then you need to
consider a memorable but relevant business name.
You could try to come up with the name yourself. However, if
it is in your budget, you can seek the guidance of agencies that
specialize in creating business names and establishing brand
images. The upfront cost could more than pay for itself once
your product name starts flowing from the mouths of more and
more customers.
Always keep in mind that there are legal concerns with any
name you choose for your business. Make sure you aren't
infringing on any existing copyrights, because that is a mistake
few businesses can afford to make.
Should You Stick to Your Budget?
By John Hurd, Chief Wealth Researcher
One of the most important steps you can take to begin
controlling and understanding where your money is going is to
create a personal budget.
You can lay it out in a spreadsheet program on your computer
or you can just pencil one into a notebook.
The goal is to begin to understand where and when you are
spending your money. You'll soon begin to see patterns that
could help you identify where you can cut corners to pad your
savings or pay down debt.
As great and necessary as a personal budget can be, there is
also a downside to tracking all of your spending.
A colleague of mine told me recently about her troubles
sticking to her personal budget. She'd end up weighing every
purchase she made and the stress of tracking every cent soon
meant that she'd pass up on opportunities to meet with friends to save even more money.
She was meeting, and even exceeding, her budget goals. But, at
the same time, she was becoming more and more miserable.
She was always on the hunt to save a few more dollars and this
became her only concern.
Now, this may be a fairly extreme example, but the point is that
when you're making changes to your life, it is important to
balance both the change and the stress it can cause.
This is true for most any change you will face, no matter
whether it is a financial or other personal goal you are
attempting to reach.
So, when it comes to your own spending budget, use it as a
guideline and remember that what you are trying to achieve is
not carved in stone.
Your goal is not to track every cent you spend, but to control
how and when you are making purchases. By focusing on how
you spend your money and not just what you are buying, you'll
soon discover that it is easier to stick to a budget without
stressing over nickels and dimes.
The End of Boardroom Deal Making
By Michael Newman, Self-made Millionaire
There's much more to making a deal than a successful
boardroom meeting. In fact, the boardroom is rarely the place
where deals get done. These days, deals get done in informal,
relaxed settings like the golf course, a ball game or a watering
hole.
I think there are a few reasons for this. For starters, the
boardroom can be a little too formal. Sure, it's fine for
hammering out contractual details and dotting I's and crossing
T's, but in terms of creativity, explanations and a number of
other things, it simply doesn't act as a good venue. People feel
pressed and simply aren't able to properly or accurately go over
what's required. It's almost like they're racing against the clock.
When you take your meeting out of the boardroom, you know
you've got a long period of time in an informal, comfortable
atmosphere to just be yourself. Conversation flows more freely
and much of the pressure associated with the boardroom is
relieved, leaving a greater opportunity to articulate your point
and engage your counterpart.
Of course, just because you're out of the boardroom doesn't
mean you can throw your professionalism to the wind. It's
important to remember at all times that you're not out with one of your friends, but with a business contact. You want to show
them in multiple ways why you're fit for their business and
are worthy of a partnership. If you come off like someone
overly casual or too relaxed, it may cost you, so be sure to keep
an element of your business side intact.
The one issue you may have with moving the meetings from
the boardroom to the golf course, ball game, or bar may be the
cost. After all, if you're already paying for some office space,
why wouldn't you want to use it?
Well, look at these meetings as an investment. The better time
you can show your counterparts and the more personal depth
you can show them, the better your relationship becomes. By
interacting in a more natural atmosphere, relationships can be
built that simply can't be in the boardroom. This can build great
comfort and the start of lucrative business relationships!
If you're looking for a way to ramp up your business, think
about having some fun with your meetings. It could end up
having big-time benefits for your business!
Summer Holiday Success for Info Marketers
By James Burt, Online Marketing Expert
I've said this before, but I want to say it again: I hope you are
having a good summer.
Thinking of summer and its long, hot days and relaxed hours
often makes me think something is wrong. Why am I not
writing or out networking more? Or, on some days, why am I
not doing anything?
The truth is that these are common worries to have in the
summer months. But, in a weird way, they are good to have. As
an info marketer, you really are like all of the other
entrepreneurs out there. You have to take advantage of all of
the time that you have.
With that in mind, there are some good tips for utilizing your
summer. Like Christmas and other holidays, it only comes
once a year. For working pros, you are caught between wanting
to have fun and also trying to maximize your business
potential. The good news is that you really can do both.
Here's how:
-- Go to events: Summer is that time when people get festive.
They have or can make time for some fun. One aspect of this is
the number of summer events that are going on. Auto shows,
cultural festivals, conferences/retreats, fairs, farmers'
markets...the list is endless. As an information marketer, it's
worthwhile to mix business with pleasure and head out to one
or many of these events. You might get some hot new info,
network with some new contacts, or just get some new ideas
for info products. Either way, if an event of interest comes up,
don't pass up the opportunity to check it out.
-- Check out parties and barbeques: Along with events, a lot of
folks enjoy social gatherings in the summer. They can be on
someone's deck or a pub's rooftop, and are filled with all kinds
of folks. There is a good chance you might meet someone like
you or who could be a good collaborator: an accountant, a
writer, or a product specialist who needs some promotion.
From this, the message is simple: do not miss a nice, relaxing
casual event like a summer party or barbeque -- the opportunity
to meet someone who could be a good influence on your info
marketing business is too great.
-- Make the best of your vacation: It sounds silly, but vacations
are almost necessary to working pros. You need time to
unwind, either solo or with family and friends. You'll likely
escape to a nice lake, cabin, or other tranquil place. But that
doesn't mean you have to shut down completely. If you are
heading to the summer home or going on a special outing with
a group, keep your eyes and ears open. Like checking out an
event, you never know who you might meet or what new idea
you might come across. Take along your notebook, laptop, and
address book just in case. And, if you can sneak away from the
gang to drop some ideas on paper, well, that's hooky worth
playing!
-- Just relax: In the end, when you get the time, it's often just
best to relax and enjoy the summer. Even for a long weekend
or a few days on the beach, it's not a bad thing to give yourself
a rest. Unconsciously, your mind can start coming up with new
ideas for info products, how to direct your business, and how to
improve it as well. Don't be afraid of taking a break.
Sometimes the info marketer's mind will come back stronger if
it's given time to breathe.
Summer is a special time. You want to take advantage of it
while you have it. As an info marketer, you really can mix
business with pleasure by planning to continue your success
and make it to the beach.
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