Time Is Money

Time Management and Money

I remember how intrigued I was when years ago, and long before I had heard of time management, I recognised the link between time and money - we say that we 'spend' both time and money, and also talk about 'saving' time and money.

Moreover we usually find that in order to save time, we have to spend money, and vice versa. For example, to save time cooking, we

Our decision depends on our circumstances and priorities - someone else might well prefer to save some money and spend more time preparing and cooking a meal.

We make these choices all the time and often have no objective yardstick to show us how effective they are - unless our choices are so extreme that eventually we are totally overloaded with commitments, or on the other hand we run out of money! Constantly trying to keep a balance between spending and saving time and money demands a willingness to keep checking priorities.

This is particularly true of self-employed people starting or growing a business. It can be tempting to try and keep all costs as low as possible and do everything yourself. But this can be counter-productive when you realise just how much is involved in starting and building up a business.

You need to think carefully about money and time management. If you can pay a specialist to do a job and thus free yourself up to do something else, that may be the better solution. Here are just a few examples:

* You might be able to tinker on the computer and come up with a logo and some marketing literature, but how long will that take and will the results justify it? Paying a designer might be a good move.

* Business these days is wrapped around with bureaucracy and you must comply with all kinds of government agencies. Is it better to do all your accounts, wages and admin work yourself or would an employee or virtual assistant do it better and quicker?

* Selling is an essential part of any business and one loathed by many. You can either spend hours on the phone working through directories, or hire professionals to do your cold calling and set up appointments.

* Running business systems efficiently can be time-consuming and repetitive. There are software programs available which reduce the monotony, but they cost money. Another choice!

* If you need to travel some distance for work, consider the respective merits of driving yourself or taking a plane or train. A plane or train ticket may be expensive but you might be able to do some work while you travel and still arrive in good shape.

* You are probably constantly receiving invitations to attend conferences, seminars and workshops. These are often held in expensive hotels and can be pricey. It is tempting to think you can save both time and money by not attending! But you can meet some valuable contacts this way who will refer you work, thus saving your marketing time and costs. At the same time, you may well be inspired with some new ideas to transform your business growth.

* Personal development - when you are working for yourself and have no employer to pay for these on your behalf, training and executive coaching looks very expensive and you may barely even consider it. My own personal experience and that of many of my clients shows that the spurt in growth which comes about when you commit to personal development can move you further and faster than you ever dreamt.

* Holidays and breaks - it is so easy to feel that we cannot stop working or everything will start to crumble. The descent from enthusiasm and motivation to worry and stress is an insidious one which we may not even notice and which has a profound impact on our time management. Give yourself the gift of some time away from your desk, however, and you will return feeling newly inspired and be so much more productive.

Time and money - our investments in both will ultimately pay off in the success of our business and the happiness of our lives. It makes sense to think carefully about the balance.

might buy ready- prepared food.

Get more than just "a presence" on the Internet

The water purification salesman had been talking to us for what seemed like hours. During a lull in his monologue, I asked if he had a website.

"Yes. In fact, we are the only independent distributors of this product who does," he proudly beamed.

"So you get a lot of leads from the website, then?" I asked.

"No, actually I don't think we've gotten a single lead from it," he replied.

"Then why do you have a website?" I wanted to know.

"To have a presence on the Internet."

A few days later, our home inspector was giving us an update on the state of our house. We had bought it a few years earlier in winter, when snow was on the ground and on the roof, and we thought an update would be a worthwhile investment.

"Do you have a website?" I asked.

"Yes, I do. But, I don't think a single customer found me that way."

"Then why do you have a website?" I asked.

"To have a presence on the Internet."

A lot of entrepreneurs and small businesses are sold on paying for a website because it is important to have a presence on the Internet. For many businesses, that is true. But what does "a presence" mean?

Would you open up a store in the corner office of the fifth floor of an office building, or would you open it up in the mall?

Would you leave the windows bare, or would you fill the windows with merchandise and open the door to make your store inviting?

Would you ignore customers when they enter the store, or would you carefully place merchandise and staff to maximize the revenue from each visit?

"A presence" is only valuable if the website serves a purpose, if it fulfills its goals. Just sitting there, somewhere in cyberspace, is not a sound business strategy. An experienced website marketing consultant can help you determine what goals, if any, are viable for your business website.

Here are a few of the goals you might want for your website:

Online pamphlet.

If you connect with customers by telephone, this is an ideal way to instantly deliver a pamphlet to them. No mailing, no delays, they can even call up your information while you are on the phone with them. This website has to look credible and be choc full of information.

Credibility booster.

If you are selling a big ticket item, particularly one that requires a good reputation, a website can help. This website should look upscale and focus on credibility-boosting content. It is ideal for speakers, consultants and other business-to-business service providers.

Lead generator.

One excellent use for a website in many non-retail businesses is as lead generator. The idea is to funnel traffic (website users) into the site and lead them to take action. Such action might be to call you, to request a brochure, to request a free sample, etc. The main requirement for this is the maximum amount of targeted traffic possible, of people interested in what you have to offer.

By way of example, my marketing website serves these first three goals: online pamphlet, credibility booster and lead generator.

Email Address Gatherer.

This is really a form of lead generation, but it is unique in that you are not trying to sell through the website, but through an email newsletter (also called an ezine). The website is there primarily to pique interest, and the newsletter is there to build affinity and trust in order to make the sale. You need to have a newsletter set up, and you need targeted traffic.

By way of example, my personal growth website serves this goal, attracting subscribers to my Daily Dose of Happiness.

Sell.

Of course, if you sell hard goods, electronic goods or even many services, you can make the sales right online. You need some form of payment gateway and/or shopping cart, and your website needs to be able to make the sale from start to finish, which is not always easy. Of course, you also need customers in the form of targeted traffic.

By way of example, my liquid vitamins website serves this goal.

What you want your website to achieve should dictate the look, the structure, the content, the writing style and whether or not the site is optimized for the search engines. Before investing any more money of time in your website, invest the time required to determine the goals you want your website to achieve.

Or you could be like that water salesman or my home inspector, satisfied with having "a presence". Of course, many people go through life having "a presence" on Planet Earth, but most entrepreneurs I have met are go-getters. If "a presence" is not good enough in the real world, why settle for it in the online world?

A website should be an investment, not a cost. If your website is not working for you, or if you feel your business should have a website, determine realistic and useful goals, then set your website up to achieve them.

Maybe you don't need a website at all. Or maybe your website could double your profits. Either way, don't let it sit there gathering dust somewhere in cyberspac

Tips Every Small Business Should Know

Prior to starting a business, it is important to take some time and understand the cost of the project, your cost of living, and where you have some wiggle room. Staying in shape (financially) when you start a business is not just important; it might actually the determining factor in the success or failure of your business.

The following tips have been collected from a number of small businesses. Their experiences are helpful as you try your hand in being an entrepreneur. Read on, learn from their mistakes, and imitate their success stories.

Do what you love
Ahhh, this is the most important advice that you can get. As you are going to devote a lot of time and energy to starting a business and building it, it is really important that you truly, deeply enjoy what you do. I have a friend who loves drinking. Guess what he got into? Right! Well, he made use of his passion for the lager to build a very successful beer joint for all the beer guzzling people in his town.

Start your business while you are still employed
This is a sound advice for anyone who is contemplating on starting a business. As money is very important, you should ask yourself how long you can survive without money because it might be a long time before you actually realize some profit.

Do not do it alone.
Use those color business cards and start networking. You absolutely need a support system if you are starting a business. It is a good idea to have a buddy, preferably someone you trust very well, to partner with. Family members are not recommended though because of issues that might be difficult to resolve on a personal level. However, a close friend, a college buddy, or somebody who enjoys the same passion might be a good partner. Even better – find a mentor; if you qualify, apply for a business start up program. Experience is the best support system you can ever get.

Do not wait until you have officially started your business to line these up because your business cannot survive with them. Apart from those listed above, start networking with potential clients. Immediately place an online business card printing to get you started. Make the contacts. Sell or even give away samples of your products or services. As a piece of advice, you cannot start marketing too soon!

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3 Reasons Why Blogging Will Boost Your Business!

Building your business can be a difficult task. You can put hundreds of hours of effort into the business, but if you still don’t have important components, you will not be successful. Today business owners are realizing that blogging boosts business. Blogs are typically only seen as personal places to express yourself and your views. The truth is however the blogs are also great places to reach people about your business or your products.

There are several ways to do this type of blogging. The best way a business can use blogging to boost their business is by taking part in the blogs of others. You can easily create quality posts with your business in mind without needing to set up a blog of your own. Try finding blogs that pertain to the area of business you are in. This will help you get started. With millions of blogs out there, you should be able to find some with no problem. Choose to post on all of them, or choose the few that get the most activity. Then begin posting. When you do, you will see positive results come in. If you are still curious about how this can boost your business, check out these three reasons blogging boosts business.

Quick Name Recognition The fastest way to get your business’s name out in the public is to make it known to your targeted marketing group. If you want to get your company’s name out to men who like fishing, then you can find a blog that is about just that. When you find the blogs pertaining to this marketing group, post useful and intelligent information about topics that pertain to your company. You might not want to sound like an advertisement. Think about responding to another comment and simply tagging your signature with your company’s website. This is a subtle way to get their attention. The more you post on blogs, the more widely known your company’s name will become with the select marketing group. When they tell their friends and family about the site then your consumer group will have grown even more. This is a fast way to get started. You will have to invest some time however. At least an hour a day can be used for this type of task.

Consumer Testimonies Your company might even think about hiring professionals to blog for your company. You can offer these employees products to try and give them the task of finding blogs where they can appropriately “praise” the product. By paying these people to do the task, you will be getting the work done that you need without having to devote much time. Consumer testimonials go a long way with other consumers. If these bloggers are productive enough, you will see an increase due to it.

Building Relationships Smart business owners know that they can go further with the help of others. A great way to connect and build relationships with other businesses is via their blog. If you are a regular poster who values their business, they will be more likely to work with you. Working together with advertising is a great idea. You can swap ad space for no fee if you like. These are great things for business owners and are easy to get into when you blog regularly.

As you can see, blogging can be a great way to do business. It may seem like tricky advertising, and it is in some ways. However, it is free advertising that does the same thing as a commercial on television does. It reaches a targeted marketing group and lets them know your company’s name, products, and sometimes offers an endorsement. Overall, it is an effective way to get your business out there. When people have no idea who you are, they are not going to feel comfortable working with you. The better your reputation is, the more likely they will trust you. When you have no reputation at all, they will not trust you either. So, even if you just want to use blogging to build your company’s reputation, it will be worth your while. Give it a try and see what type of results you can get using these tips.