The Risks of Desperately Needing Money in Business

Just like the blood that keeps every person alive on earth, money or financial growth is the life blood of any business. Blood in the human body transports oxygen around so we can move and do tasks that can improve our health such as swimming, jogging or cycling and this is just the same in business. Money in business allows further options to grow and invest in other areas such as marketing and promotional tasks and just like the body, if we do not do these tasks the business becomes flabby and weaker.

As we all know, whether from being employed or running our own business, the purpose of any business is to grow and for that to happen money needs to flow. This concept is not surprising to anybody, but what happens if a business starts to struggle and the owner is not emotionally prepared for the down turn? It is estimated that 50% of new businesses fail in their first year and an astounding 95% (of those 50% left) fail in their second year, a very sobering fact, but why does this happen?

The reasons a business may fail are many, wrong location, low quality product/ service, too much competition, etc, but for this article we are going to look at the fear of running out of money and how it can affect the mindset of the business.

Businesses become recognised because they solve problems, all a customer wants is “what can you do for me?” the customer receives good service and will return again, but what if the owner of the business becomes fearful of losing money and starts to desperately grab at the customers as they walk in through the door? Well lets look at it from the customers view, imagine how irritating it will feel to walk in and rather than being looked after and feeling cared for, they are constantly under pressure to buy things so the owner can make money so they can feel the business will succeed. Services of that nature make a customer feel pressured with the desire to leave and go to other businesses that treat them better.

This is the irony of the whole system though, the business owner wants to secure the business because they fear it going bankrupt, but in their attempt at trying to ensure the business stays afloat they grab at money, but in grabbing at the money and trying to get away from their fear, they actually draw themselves closer towards that which they fear.

We always get what we focus upon – think fear and we get fear, but in business this attitude could wipe it out completely as there is always another business waiting to help.

Various Survey Methods for Small and Medium Businesses

Small and medium businesses can leverage various survey methods to get feedback from their customers. Unlike large corporations and consumer marketing research organizations, small business entities are much closer to their customers and in turn have small target audiences for conducting feedback studies. Hence these organizations can leverage multiple survey methods instead of depending only on online surveys software tools.

Survey Methods

Surveys can be conducted using various methods. Apart from Online Surveys, Telephone surveys, Mailed Paper surveys, In Person studies, Tradeshow / Kiosk surveys, and Registration Card research are popular survey methods used by businesses.

Telephone Surveys

Telephone based surveys are used for a long time by all sorts of businesses. Obviously, if the businesses have the telephone numbers of the potential survey participants, they can easily reached by telephone for brief surveys. Hence telephone surveys are widely used for Customer Satisfaction Surveys as the organizations have existing relationship with the interviewee.

However, the popularity and usage of telephone based surveys have gone down significantly because of the proliferation of unwanted telemarketing calls and wide usage of answering machines in offices and homes by the consumers. Also, regulation such as Do Not Call (DNC) registry requires strict adherence of rules.

Paper based Surveys

Paper based surveys could be: (1) mailing research questionnaires via snail mail, (2) in person surveys where the paper is handed over to the survey participants for filling up the answers and (3) magazine registration / feedback cards.

This is one of the least intrusive methods, as the survey participants can answer the survey questions at their pace without any interruption from the survey conductor.

Small and medium sized businesses will have better opportunities to interact with their local customers and leverage paper surveys at such instances.

Tradeshow / Kiosk Surveys

Some small businesses do participate in events such as industry trade shows, where they would be able to meet with their customers, partners and prospects. Generally kiosk based method is costly as they need to hire the kiosk and associated accessories and services.

However, online surveys can be substituted for kiosks with the easy usage of online survey software. Even a laptop computer with an internet connection is sufficient to conduct customer surveys in kiosk mode. The questionnaires are accessed via internet browser. Online Survey Software Questionnaire responses collected via all the above methods can be consolidated using the online survey software. This saves lot of time in terms of data aggregation, tabulation and analysis.

Advantages of Online Surveys

Conducting feedback research using an online software tool is a simple process. The costs are significantly lower. Generally, there is no need for any long term contracts for the software. The monthly subscription fees are very low and affordable for small businesses and professionals. Even free online survey builder tools can be leveraged at early stages.

Another advantage is that survey studies can be organized in more than one method and all responses can be consolidated in the online survey system. The answers can be entered manually entered into the system from all methods. The responses and summary results can be viewed online immediately in real time. Since the invites to the potential participants can be emailed, there are significant savings in terms of time and investment.

Small and medium businesses can leverage their strengths and use feedback mechanism in various methods in order to understand their customer requirements as well satisfaction levels.

Web Business Opportunity – 9 Basic Mistakes, Correct Them and Solve Your Frustrations

Statistics show that 97% of people fail when given a web business opportunity. This article focuses on the 9 basic mistakes that people make — and what to do about them, to solve their frustration at producing insignificant results, despite working hard.

1. Clinging to an “Employee” Mindset

Most people who join the internet bandwagon come from the employee sector. I, too, was. And I had a hard time adjusting.

The employee expects to get paid at the end of a “pay period”, whether he does a good job. Or, not. The internet business, like any other business, pays only those who produce good results. It pays for Results. Not for Efforts.

This brings a high level of frustration. And those who are not mentally prepared, quit.

What to do? Embrace an entrepreneurial spirit. Love what you do. Bring on the Passion.

2. Getting Comfy with Instant Gratification

Most people want results now. And as we all know, this does not happen.

What to do? Make your expectations realistic. Remember the Bible phrase: “In due season, what you plant you will harvest…. As you sow, so shall you reap.” Expect that your success, will take some time, and if you are ready.

3. Wallowing on Information Overload

The internet is filled and full of information from various “gurus” selling their “latest, and greatest”. This results to confusion and inaction for fear of doing the “wrong thing”.

What to do? Realize that what works for a particular guru, may not work for you because doing business is also a personal thing. Gravitate towards a “model” that you like, you can “copy”, and you can resonate with.

And this is important: stick to that plan until completion, or until you’ve decided that it is not workable.

One niche, one site. Make it profitable first. Start to complete! Make it your learning laboratory and confidence builder. Make your “first list”, make your “first sale”. Enjoy the feeling of your first sale! Nothing feels like it. Add another project only, after you have made it profitable.

Nothing brings more confidence, and inspiration, than a verifiable proof that you yourself, can make money online.

4. Not Taking Action

This is a biggie. You can always “fail your way to success”. But… you can play it smarter. Follow the model that you’ve identified in #3, and you’ll commit lesser mistakes and bring desired results faster.

5. Not Knowing the “Process”

Making money at your web business opportunity involves a series of processes. It’s like a map that before you get to point C from point A, you have to pass through point B.

And along the map, there are fundamental skills that you must know to successfully navigate the map.

The good news? The Maps are available, and the skills can be learned

What to do? Get the map right, learn the skills right!

6. Not Getting the Right Map, Not Learning the Right Skills

This can be tricky. I have gone through many maps, and I’ve learned many skills — yet I was getting nowhere.

What did I do? I finally admitted that I need a Good Teacher.

But as I’ve mentioned earlier, this is a personal thing. There are many successful internet marketers out there, yet there are very few really good teachers.

What to do? Scout for a Teacher who you like and is accessible when you really need a hand-holding session. And don’t be fooled by their price — the “expensive” ones may not be really good as a teacher. Most of the time, you’d be relegated to their “assistants” (who by the way, are their employees — and employees, usually have an “employee mindset”).

I know that money can be a concern here. An alternative is to look for a good membership site, browse around the site, and “feel” the pulse of what the other members are saying. Do your due diligence.

If the feeling is right, sign up for a trial membership. Trial memberships are usually very cheap, from $1.00 to $4.95, for a 5, 7, or 14-day period. The recurring monthly fees can range from $9.95 to $1,995! Me? The upper limit for me is $97. And that is only for a max of three months.

But you’d be surprised that if you’d just look around enough, you can find a good membership site for less than $40 a month.

To minimize your “risk” of not getting the education given your investment — you can always opt-out anytime.

So make sure, that the site makes it easy for you to cancel, before “surrendering” your credit card.

7. Not Treating This as a Business

You’ve heard it before. If you treat your business as a hobby, you will get a hobby income, if at all. But if you will treat this as a business, with consistency, persistence, and determination, you will soon get a business income.

8. Not Building a List

Put this in mind. You are building a business. And what does a business need to survive?

If you said “customers” — you’re right! In the online world, you build your business by building your List. Not just a list, mind you, but a… responsive list.

9. Not Getting a Good Teacher, Not Getting a Good Education

Do you still remember your favorite teacher? What made you like and still remember her?

If we can condense into one big mistake, all the 8 mistakes that I’ve listed above – this is the one biggest mistake to make. Sadly, this is also the most common. (Fell victim to this, too.)

A good teacher will cover all those other 8 mistakes I’ve listed above.

A good teacher will give you the education that will enable you to have a deep understanding of the skills and processes involved. That deep understanding will give you the confidence to take the massive action required, initially, to make your online business start right, hum smoothly, and last a long time profitably.

So, there you are. I have given you the basic 9 mistakes that starting and intermediate internet marketers make. If you need to remember only just one thing out of this article to build success and maximize your web business opportunity, make it #9 — get a good education from a good teacher who has a proven track record..