| Money and Business Newsletter for Raja
Publisher: David Riklan - http://www.SelfGrowth.com In This Issue:
-- Recommended Resource of the Day: Slash Your Risk of Prostate Cancer by 33%
-- Inspirational Money and Business Quote: Rodger Adair
-- Article: Do You Need To Do A Budget? - By Andrea Travillian
-- Article: Small Business Marketing - Finding Your First Customers Through Referral Partners - By Karen Scharf
-- Subscription and Contact Information
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** Recommended Resource of the Day **
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* Slash Your Risk of Prostate Cancer by 33% * Outsmarting prostate cancer is easier than you might think...and a whole lot more enjoyable than you'd expect. In fact, just one delicious food can slash your risk of this dreaded disease by a whopping 33%--all on its own. Find out the powerful secret behind this seemingly simple food...And discover how you can combine it with four more ultimate manhood-defenders for iron-clad prostate protection. Click here for your free report.
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** Inspirational Money and Business Quote **
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Employees do a great deal more following than leading, even as leaders. For the most part, followership behaviors drive tactical successes. Leadership talents and skills propel strategic accomplishments.
- Rodger Adair
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** Article: Do You Need To Do A Budget? - By Andrea Travillian **
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It seems like one of the most hated aspects of personal finance is a budget. Most people hear the word and cringe and begin to wonder what other wonderful things they could do besides making a budget. Things like visit the in-laws, eat worms and clean the toilets come to mind! This dislike of a budget poses the question - Do you have to do a budget? The answer would be no, you don't have to do anything you don't want to, except maybe visit your in-laws. But I would pose a different question to you: How do you know if you are living on less than you make if you do not do a budget or track your expenses in some other fashion? When in college students plan what classes they will take when, how many classes per semester they need and then continually monitor how they are doing with requirements in order to graduate on time. Without doing this they miss classes that are not scheduled all the time, forget to take their basic classes and don't take enough classes to graduate in a timely manner. Your money is no different if you don't plan for what should happen to it and then monitor it then it could end up way off track and delayed! In addition to knowing if you are on track or not budgeting helps you decide where to cut expenses if you need to cut in order to be living on less than you make. It is kind of hard to make cuts if you have no clue where you are overspending. This is very similar to when someone is trying to cut back on calories, if they do not know where they are eating or drinking their extra calories then it is very hard to know where to pull back. Only by tracking money or food can you know where you are splurging! Budgeting and the side effects of the knowledge you gain from this process does not all have to be bad. What if you find out that you are saving way too much or really do have the extra room for investing? I can hear you saying "Yah right", but I know it has happened before. Sometimes the stress of feeling like there is not enough comes from the fact that you may be over saving. You may think this is a good thing, but like with food you need to eat a minimum or you do not have enough food for your body to operate at full capacity. So if you are saving over 20% and constantly feel like you don't have enough money for vacation, then your money is not helping you operate at full capacity. We are supposed to save some, spend some and give some - all in balance. As a side note targeting 10 - 15 percent of your income for savings should be your goal. So how do you get started with a budget? The first step is to decide that you are ready and willing to do what it takes to compile and follow a budget. I wish I could say this is easy to start with, but for most of us it is not. I can say that it gets easier and easier. I have gotten to the point that I can do it in less than 20 minutes and can even sense when I am not on budget thus prompting me to go review and revise. Without this initial commitment to making the change you will not always have the will or desire to keep going when it is difficult. Write down your commitment on a piece of paper or in a journal, add why you want to do this and then sign it. When you are having a tough day go back, read why you are doing this and look at that signature as a promise that you made to yourself. The second step is to actually do the budget. Gather your expense data from the past month or two and begin to compile a budget for the upcoming month. If you do not have any expense information begin to collect that information over the next month. Set up an envelope or folder that allows you to collect all the receipts and statements. Use this the next month to set up a budget. Recreate your budget every month, not all months are created the same so your budget should not be the same every month. If you find that something comes up during the month, do not give up on the budget just re-adjust and keep moving. Remember the college student does not stay perfectly on track for four years, but they do review and adjust to get to where they need to go. Finally, give yourself permission to make mistakes and be patient. This is not easy right away, so give yourself time. You did not learn how to do your job in a day, this is no different, there are too many moving parts for you to get it right at the very start. Don't hate the budget; it does not have to be worse than cleaning toilets. Approach it as fun and good for you so the process goes better. Just keep in mind that paying attention to your budget details keeps you on track for what you want from life and ultimately helps you get there faster! ** To comment on this article or to read comments about this article, go here.
About the Author:
Andrea's passion for personal finance began at an early age--with her first stock purchase in sixth grade! Andrea's money education continued at the University of Iowa with a degree in finance. Upon completion Andrea took a position in banking. With additional career opportunities to follow that involved working in corporate finance with budgets and forecasts, taxes, and retirement investing both in the United States and abroad in Australia. During her working years Andrea received her MBA from Creighton University. Upon returning to the United States Andrea decided to make the jump to entrepreneurship and was hooked. After starting two businesses, Andrea realized that her true calling was to help people achieve their goals. However she also knew from her financial experience that the one thing in most people's way to their goals is their money. Your money and life fulfillment are intertwined and both must be healthy and on target in order to embrace your personal power and achieve your goals. Because of this belief Andrea formed Smart Step, Inc in 2007 to educate people about money and to help them make the world a better place. Andrea is accredited by the International Coaching Federation.
* Slash Your Risk of Prostate Cancer by 33% * Outsmarting prostate cancer is easier than you might think...and a whole lot more enjoyable than you'd expect. In fact, just one delicious food can slash your risk of this dreaded disease by a whopping 33%--all on its own. Find out the powerful secret behind this seemingly simple food...And discover how you can combine it with four more ultimate manhood-defenders for iron-clad prostate protection. Click here for your free report.
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** Article: Small Business Marketing - Finding Your First Customers Through Referral Partners - By Karen Scharf **
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If you're like many entrepreneurs I've encountered, you probably started your business because you are really good at what you do. At some point in time, you might have decided you were sick and tired of bringing home the bacon for your boss and you figured you'd be better off starting your own business and keeping the bacon on your own kitchen table. Or perhaps you have an exceptional skill, something that comes so naturally to you that all your friends and family have always said, "You should be making money with this. You should start your own business." So you entered the world of entrepreneurship. You came up with a catchy business name, had a logo designed, created an eye-catching brochure, invested in a new computer system, printed up some great business cards. And now that you've been "working" at your new business for several months, tweaking the perfect shade of blue, contemplating a new logo design, reconsidering a different brochure - you realize you don't really have a business yet. Because, quite frankly, you don't really have any customers. Finding Your First Customer Before we go much further, I want to clarify something very important: a customer is someone who pays for your product or service. This is so crucial, especially with a service business. I chat with many entrepreneurs who claim to be working with a certain number of customers who aren't really customers at all. It's usually very easy to find people to sample your product or service for free. But finding people to actually give you money is another story entirely. One of the best sources of new customers is through referrals. But if you haven't found your first customer yet, you don't really have any one who can refer you. And that's where the trade association or business organization for your niche comes in.
Almost all trade associations and business organizations distribute a membership directory, which is an absolutely invaluable resource. Whenever I mention this to a new entrepreneur, I almost always get the same answer: "I already joined the trade association and I didn't get a single call from my ad in the membership directory." And I generally reply with something like: "The membership directory is a great resource, but not in the way you're thinking. Most entrepreneurs get their business information listed in the directory and then wait for the phone calls to come pouring in - which almost never happens." Create a Referral Alliance Instead, I recommend that you use the membership directory proactively. Review the directory and find four to six other businesses who seem like they'd be a good fit. By good fit I mean other businesses who are attracting the same type of clientele you are looking for without being a direct competitor to your own services. If you're a plumber who focuses on multi-level townhomes in the Meridian Hills neighborhood, look for a carpet cleaner and a home painter and a window washer and an electrician who all service multi-level townhomes in the Meridian Hills neighborhood. If you're a bakery specializing in wedding cakes, look for a bridal shop and a florist and a limousine service and a caterer. If you design custom-made handbags, look for a jewelry designer and a wardrobe consultant and a color analyst. You get the idea. Now that you have a list of potential referral partners, you want to craft a very compelling introductory letter that briefly describes your business. The rest of the letter should focus on your potential partner and his business and his customers. Point out how you would like to help your new partner grow his business and how you can be of service to his clients. Mention the fact that you are both targeting the same customers and you would like to create a mutually beneficial referral partnership. I suggest that you meet your potential partners in person; go out for coffee, or offer to take him for lunch. You want to get to know your new partners on a personal level so you can feel confident in their services before referring them to your own future customers.
When you do meet with your potential referral partners, be careful how you come across. Be sure to present a self-assured image of yourself and your new business. Don't sound whiny about not being able to find new customers. If you're not confident about your services and your business, why should your referral partners be? Next, make sure you have a very clear understanding of your referral partners' target market. Ask for very detailed descriptions of their best customers. Right now, you don't have many referrals to send their way, so you may be tempted to refer customers who aren't such a great match. The detailed description will help you focus on the right target customer, which will make your referral program stronger and last longer. Ask your referral partners to craft an introductory letter about themselves and their services, and offer to send the letter to the people you know who fit their target profile and could possibly benefit from their services. When you're starting your new business, you might be hesitant to let your friends and acquaintances know about your own new services fearing that you'll seem pushy. It's so much easier to introduce them to your new referral partners and let them know about those services. Be sure to print the introductory letter on your own letterhead and include your own signature. You want it to be a personal introduction from you about a service you would recommend. Include information about your referral partners on your website. And track the page views and outgoing links so you can let your partners know how much web traffic you are sending their way. Then craft a letter about your own services and ask your partners to refer you to their current clients. Suggest that they include the letter with invoices, monthly statements or quarterly newsletters. As soon as you start getting new clients, you can do the same. You'll want to track the source of each new client so you're not referring the jewelry designer to the client who was referred to you by the jewelry designer. And speaking of new clients, once you do start working with your own new clients, it's a good idea to create a program to request referrals from your clients as well. Because referred clients are easier to market to and easier to sell to, a solid referral program is an excellent way to grow your small business. Create a solid referral program and be consistent with executing it, and soon you'll see your business grow and your revenue soar. ** To comment on this article or to read comments about this article, go here.
About the Author:
Karen Scharf is a small business marketing consultant who helps small business owners attract and retain more clients. Karen coaches and trains website owners on various tricks and techniques that have been proven to increase website conversion. She offers coaching programs and a Marketing Makeover to turn your ineffective advertising into a profit-pulling system. http://www.ModernImage.com.
* Slash Your Risk of Prostate Cancer by 33% * Outsmarting prostate cancer is easier than you might think...and a whole lot more enjoyable than you'd expect. In fact, just one delicious food can slash your risk of this dreaded disease by a whopping 33%--all on its own. Find out the powerful secret behind this seemingly simple food...And discover how you can combine it with four more ultimate manhood-defenders for iron-clad prostate protection. Click here for your free report. | 
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