February 2010 Letters to the Editor

    Submitted by Anonymous (not verified) on Tue, 03/02/2010 - 12:04

    Here are just a few of the letters to the editor printed in the February 2010 issue of Home Business Magazine. (This previous issue is off the newsstands, and it is available for purchase by clicking the "Subscribe" channel on this web site and then clicking on "Previous Issue".)

    Ill-Prepared For Surviving In 2010

    The current economy continues to be the worst in decades. For every
    promising sign of a recovery there are two signs of tougher times ahead.
    Many businesses don't know how to plan for 2010 or even the next month
    with the uncertainty that persists about the economy. Yet to survive
    businesses need to make decisions in most cases hard decisions about 2010. What should they be planning for? What types of decisions should they be making? What actions should businesses take to survive in 2010?

    Michael E. McGrath, Management Consultant
    Author of “Business Decisions!”

    From the Editor: We hope this issue’s cover story will also help home-based entrepreneurs to survive in the tough economic times to come.

    Social Media Has Changed How Business Is Done

    Networking sites such as LinkedIn, Facebook, and Twitter have created dynamic and powerful ways to access people and this is all being done for free! Participating on the social web scene has become a near-essential. For a growing number of potential customers, the majority of research, referrals, and recommendations are being done virtually through social networks such as LinkedIn, Facebook, MySpace and Twitter. There is an incredible opportunity for small business to attract both customers and/or clients through social media. Aside from the increased visibility within the web portal itself, participation within social media increases recognition within the Internet as a whole by optimizing search engine results.

    Nathan Egan, founder and managing partner of Freesource Agency
    www.freesourceagency.com

    From the Editor: We wish there were simple answers to these valid issues. It is still an enormous challenge in knowing how to market through social networking sites. One of the biggest challenges is targeting and segregating the mediums into what relates to your business.
     

    Budgeting Tips for Your Management Team

    Most companies don't use budgets to help them meet profit goals. They just hope the numbers will all work out. CEOs and operating owners reason the effort to learn how to build, and then use, a workable budget is just too much. Your readers need to decide it's time to begin controlling their
    bottom line (cost controls) with some of the same tools they use to control the top line (profit goals). Profit planning, or budgeting, is far and
    away the most effective way to consistently meet profit targets and avoid
    costly surprises.

    Gene Siciliano, CMC, CPA
    Speaker and Financial Consultant
    Author of "Finance for Non-Financial Managers"

    From the Editor: It’s important to keep budgeting linked to profits. The goal of better budget management is to increase cash flow in your business. The end result is increased profits.


    Not All Buyers Think Alike

    Whether you are trying to sell a product, sell an idea, get a raise, compromise with your spouse, or reach consensus in a committee, you have to “sell” your ideas. Everyone is a salesman and so many sales people sell in just one style — theirs! Unfortunately, only 20-40% of customers will like the selling style, another 30-40% may tolerate it, but at least 20% will be completely turned off! How much more successful could sales people be if they understood the basic buying styles and learned to sell the way their customers buy?

    Michael Wilkinson, CEO of Leadership Strategies
    Author of “BUYING STYLES: Simple Lessons in Selling the Way Your Customer Buys”

    From the Editor: The most important trait towards improving your sales abilities is to develop a sense of self-awareness of your selling styles. Without this understanding, you can’t know what to do to improve in specific selling skills.

     

    © Copyright 2012 Home Business Magazine. All Rights Reserved. Privacy Policy | Terms and Conditions
    Infoswell Media