Business Coaching Statistics: How To Gain A Recession Proof Competitive Edge

by Lyn Troyer Here are some interesting statistics to consider if you own a small business or internet business. Did you know business coaching statistics show that applying the skills of a business coach is a great way to keep your business ahead during a recession. It is predicted that for a small business owner to be able to work competitively on their own will become more challenging. During this recession especially, when the competition among companies is exhaustingly fierce, it becomes crucial to look for assistance to give you that competitive edge. Business coaches give you an outside perspective on how your business is running. Because this is something most businesses do not bother to find out, this in itself gives you a lead over your competition. A practice development research revealed that 42% of businesses don't use a business coach. This same study though, found you can increase your profit margin by an average of 46% by using a business coach. Thus 42% of businesses are missing out on a 46% profit increase. If you among that group you may want to carefully consider if you can afford to not use a business coach. An article posted on affiliatedragon.com stated that having your own internet business was the last weapon against a recession. However, as we've seen more businesses both off and online negatively affected by this slow economy, having your own business isn't a fool proof plan. However, hiring a business coach can be the difference between those that struggle and those that survive. To help them develop plans to build profit-growing businesses even during a slow economy many business coaches show their clients how to navigate their way through changing economies. Giving them another competitive advantage. A study conducted by the International Coach Federation surveyed 210 coaching clients for demographic data and feedback /opinions about the value and use of coaching. The study revealed that those who were coached had a positive change in personal work habits. This is instrumental to changing your business during a recession. Here are some of the statistics this study shows us about business coaching. 62.4% smarter goal-setting 60.5% more balanced life 57.1% lower stress levels 52.4% more self-confidence 43.3% improvement in quality of life 25.7% more income Those are just a few of the outcomes found through the study. What we see is the number of people who are experiencing positive personal development skills to apply to their business. It's not just about dollars and cents and most times companies who are struggling have a personal reason linked to their financial struggle. Some more interesting business coaching statics were those that we don't immediately link with business for example, 33.8% saw their health or fitness improve, 33.3% had improved family relationships and 25.7% stopped a bad habit. Although we don't immediately associated something like stopping a bad habit to having an effect on our business, the fact is something like being lethargic can affect your work habits. To find out what may be keeping them from advancing their business clients can turn to business coaching. Sometimes it's a simple as learning how to organize their office in a more efficient and effective manner. The business coaching statistics found in this study prove that even during a recession businesses that use coaches can still thrive when they take advantage of the skills offered by a business coach. Lyn Troyer and his Niche Power Group teach beginners how to make money online in niche markets with affiliate marketing. Please visit their online business coaching website here to learn how you can go from making nothing to a full time internet income in 12 months or less. http://nichepowergroup.com Article Source: http://www.articlerich.com

Why Every Company Needs Account Managers

Author: auditorcrossing Are you good with people? Have you always effectively managed your own business affairs? If yes, then account management jobs might just be what you’re looking for. Account management is for organized people with good people skills. Every retail company needs account managers to help organize and take care of all their customers. They need people who can remember to follow up with their customers, deal with their problems, and retain them as happy and loyal customers. There’s a high demand for people who can fill account management positions, so if you fit the bill, you’re only an application away from a job you might thoroughly enjoy! When you apply for an account management job, you’ll find the application process similar to most other careers. You send out your resume, and set up interviews with all interested companies, etc. Most people begin by entering at sales positions for the companies. They go on to prove they can sell the company’s product and can work with their customers. From there, they often get promoted to account manager jobs if they’ve well impressed their bosses and supervisors. So what does it entail? It varies, depending on the company you’re working for. However, there will be some similarities that run through most jobs in this field. If you’ve ever purchased from a major company, you’ll notice that most of them have sales people who are also account managers. When you call that same company again to order something else, they transfer you to your account manager, so you work with the same sales rep as last time. This way, you’re talking with someone who’s familiar with your situation, and can better recommend items and updates that’ll suit your needs. It also helps you develop a more personal relationship with someone in the company, making it more likely for you to deal with them in the future. If you’re always dealing with a new person, and have to explain your situation every time you call, wouldn’t you stop calling and go somewhere else? I actually remember calling a company that was unorganized like that. I had to explain my predicament dozens of times, before I finally found someone who could help me out. It was very frustrating and I almost gave up on the company without even resolving my major issue. But I stayed on the line and continued to go through the motions of my explanation simply because I had to solve this problem. All the while, I was thinking to myself, “I’m never working with this company again. This is ridiculous!” Account managers solve this dilemma. Companies now present a much more organized front by assigning account managers to deal with certain customers. When a customer calls in for the first time, he/she gives in all the information. Now, when the same customer calls again, the system can be looked up to find out who was assigned to be the customer’s sales rep and account manager. In the end, people will be relieved to be talking with you again, and will be in a much better mood throughout the whole transaction. They are also more likely to purchase that update or additional item you recommend, which will improve your commission and standing in the company. If you enjoy sales jobs, account management sales jobs might be a more interesting choice. First of all, a typical sales job could mean just about anything. Many of them are the one and the same as account management jobs, but in some cases, they’re just unorganized sales jobs. Account manager jobs indicate that you’ll be working for a company, with set hours and wages, with benefits, and the whole package. It means you’ll be working with multiple clients on a daily basis that someone else finds for you. It means people will be calling you, instead of you calling them. For anyone who’s ever worked at a referral center, you’ll understand the huge difference between in call and out call jobs. When you’re receiving calls, people want to talk to you. When you call them, they might not, and many of them will make it very obvious that they don’t want to speak with you at that moment. When you’re an account manager, you sit at a desk with others, doing the same thing, with regular hours, and a pretty standard monthly paycheck. You get commission off of the addition items you sell, and that’s your incentive to continue to be a salesperson, but you also have a little more stability than most salespeople. If you have a bad week, you still get paid, whereas most salespeople don’t. You need to know all about the product you’re selling, just like a salesperson, and you get to talk with new customers on a daily basis. So it requires the same people skills, and includes all the personal interaction with new people, as a sales job. Only, you have a constant influx of customers each day, due to the sales department (of course, this is all dependent on how well put together and talented your sales department is). However, sometimes you might be caught up in a few dry spells simply because of the changes being made in the sales department, and all the new people just getting their feet wet. So on the downside you have to rely on the talents of the sales department for you to continually have new customers to sell to. Also, the commission will be much less than the sales department because they will often have already taken care of the sale. However, in some companies, customers are sent directly to account managers. Here, the account managers handle the initial sale as well. Commission is divided between the salesperson who brought in the lead, if there was one, and the account manager who seals the deal. Everybody gets a piece of the pie, it just depends on which piece you want! Article Source: http://www.articlealley.com/article_767322_36.html

Writing a Business Plan

By EricSMeyer

The business plan consists of several major components. They are provided in some detail below. Your type of business, needs for capital for startup and initial phases, customer demographics and more will dictate to a degree the content you would probably want to place in the business plan.

As owner of three businesses now, formerly of four businesses, the information here will be based on my own experience and research; however, you might find the content of this essay interesting and hopefully useful to some extent.

The first part is the title page. Here, you would place the name of the business in the middle of the page, just about one inch from halfway down. Below it, write “Business Plan prepared by” then your name. Lower, place the date and revision number of the plan.

The second part is the summary sheet. This is where you will name the owner(s) and the planned or existing structure. Examples might be “A sole-proprietorship owned by...” or “A partnership owned 60% by [person A] and 40% by [person B]”. This should accurately define who will make what decisions and how much wealth is owned by each participating owner or partner.

The third part is the reason why the business should exist, and who will probably buy from it. Here, you would use research on your future customers, and what products and services they most likely would be interested in purchasing from you and/or your business partner(s).

The fourth part is the assets sheet. Here, you would like the property, like domain names, toll-free numbers, office equipment like computers, printers, faxes, and any real estate owned by the company, as well as any intellectual property like copyrights, patents, trademarks or other similar works.

The fifth part is to write up an anticipated cash flow chart and breakdown, to help investors know a little more about what exactly you have in mind for your business and here you get to show your diligence in researching permits, licenses, insurance, bad debt from nonpaying buyers, etc. Show a date when the business is expected to go into the black, so investors may get a sense of how long they will have to wait to get a return on their investment.

The sixth part is to write a summary, indicating what you need (if anything) like capital, intellectual property, domain names, phone numbers such as toll-free numbers, and anything else that is required. Be sure to list necessary workers and private contractors who will be key to the success of the business. List everything you will probably need in the first year of operation, and describe anything that has to be put together to make everything work property and generate a profit.

The seventh part is to consult with an attorney to get the plan copyrighted. This can be done with the help of an attorney; however, many individuals choose to copyright works on their own. Copyrights vary in cost, depending on if you choose online or paper based registration, but generally can be about $35 to $50 and are typically good for the life of the author plus about two decades. The copyright is optional, but is definitely something I like to do.

Write to the United States copyright office, or visit http://www.copyright.gov/ for more information on copyrights.

For the finished business plan, you may want to make a number of copies, depending on how many people you trust. A non-disclosure agreement is often a wise investment, to be signed by every person who is about to be trusted with the business plan.

Finally, take the plan to a office supply store and purchase some copies of your paperwork. A thermal binder often makes the best presentation. Then, carry some copies with you and visit your favorite bank(s) and venture capitalist(s). Keep in mind that your credit score will be a big factor in deciding your loan amount and interest rate. Good luck on your new endeavor!

Content Source: Writing a Business Plan - Bukisa.com

MBA basics

By Mansi gupta

The MBA is perhaps the most coveted course in today’s world. This course tops the list of courses almost in all the developed and developing countries across the globe. The enthusiasm for the course has brought in many small private institutes etc. to offer this course. However, only those students who have obtained the MBA degree from some recognized eminent university find the best of placements. So the institute or the university is the first factor for a successful career in this field. This article will educate you about the various issues like finance, strategy to study, interview etc. related to choosing MBA as a profession. • In today’s competitive world there are no shortcuts. The student willing to take admission in one of the best institutes either in Asia or abroad, need to study hard and get the good grades. 3.0 to 4.0 are the minimum grades required at the undergraduate grade point average (GPA). • Most of the MBA schools or colleges adjudicate the caliber of the student via the GMAT or The Graduate Management Admissions Test exam. This test is to estimate the individual’s knowledge of English, Math and Analytical writing skills. The verbal or English section comprises of 41 questions to be answered within 75 minutes. The questions like correcting the hidden grammatical mistakes etc. The Math section has 37 questions and same 75 minutes. Questions are on various mathematical topics like percentage, ratio and so forth. The writing analysis is based on writing two essays on different issues. • The school and university depend on the grades that you get in the exam. Good grades will fetch you a deemed university while poor ones may not. • MBA programs are full time and part time and within this program there are many choices. Like you can take up finance management, HR, etc. it is at the discretion of the student to decide which course to go for. • Once you have made a preference for the course, the time comes to look at the fee structure. Usually the MBA schools charge a high fee which is not within the reach of students. In this case they look for other financial aids. Many schools offer scholarships, grants etc. that can be looked up to. Else the loan facility is always available. The loan providing banks and companies also consider the grades and the institution that recommends the name of the student. The successful schools are known for producing productive students who can repay the loan conveniently with their salaries. The FAFSA or the Free Application for Federal Students, loan offered by the federal government is doing remarkable job in this area. However, due to the popularity of the loan, the application should be sent as soon as possible. • Many MBA schools ask for recommendation letters. This is in order to justify a student’s authenticity. In this case the letter should be taken by an honored and known authority whose recommendation lifts your name in the eyes of its seekers. • The school life is followed by hunt for a job. If you have passed from a top most school, job is not an issue; still you need to be prepared to win your contenders. When going for an interview wear decent clothes that are not too jazzy and funky and colorful. Practice properly with a friend or family member before the day of interview. Don’t forget to take a copy of resume and cover letter along with your certificates. You need to be familiar with each and every word of your resume and cover letter. Don’t be nervous and maintain a calm composure. Try replying in a prudent manner to all their questions. Even if you make a mistake, don’t let it affect your rest of the answers and your attitude. So go ahead and chase your dreams!

Mansi gupta writes about MBA .. Learn more at http://www.mbasmakemoney.com

Article Source: http://www.free-articles-zone.com/author/381