If you own a small business, you have probably been through difficult and scary times this past year. You are probably also wary about what’s coming in 2010. Will the changes in requirements for employee health care push you over the edge or will it take some of the burden off of your shoulders, for instance. What’s going to happen to the economy this coming year and how will it affect the health of your business?

Everything points to ongoing improvement in the economy next year. Now is the time to take a close look at your business and make some decisions about how to take advantage of an improved economy.

Revisit your business plan

Be objective about what is working and what is not. This might be a good time to have an outsider take an objective look at it. Ask yourself these questions:

Does it still serve as a guide to operations?

Does it communicate your company’s purpose and vision?

Does it spell out management responsibilities adequately?

Is it on target with regard to personnel requirements?

Are the marketing plans it lays out still viable?

Is it accurate with regard to your competition?

Is it an adequate foundation for creating a financing proposal for investors,lenders etc.

Evaluate customer satisfaction

Do you have an effective plan for measuring customer satisfaction?

Do you have a customer satisfaction form?

Do you have an effective way to get it to your customers and back to you?

Do you have an established way to respond to your customers’ comments?

Evaluate your phone system

Are the features of your system adequate to meet your needs?

Do you have enough extensions?

Do you have enough lines?

Does it cost too much? Are you getting your money’s worth?

Evaluate cost of equipment

If you lease, would it be more cost-effective to buy your equipment?

If you own your equipment, would it be more cost-effective to lease it?

Evaluate your real estate arrangement

If you lease your location, should you consider purchasing the land? Does your lease contain that option?

Be sure to factor in taxes, expenses, the potential for termination, etc.

Can you negotiate a more favorable rental fee?

Look at your escalation clause. How is it determined?

Does your lease protect you from competition in the near vicinity?

Review your option to renew. Are you likely to pay more rent at time of renewal?

Do you need more space?

Keep an eye on zoning regulations and changes in them.

Is there a chance that your landlord may not be able to remain solvent in the financial meltdown?

If you feel confident about these aspects of your business, you should look forward to the coming improvement in the economy. If you see weaknesses, get to work on them and make 2010 a good year.

Article Source:

http://EzineArticles.com/?expert=Tom_De_Zeeuw

One of the major issues you need to pay attention to once you transition from college to a job is your business contacts.

Once settled in your job, you will come across a lot of people whether inside your own organization or outside. It is customary for business people nowadays to have business cards that capture the important information about themselves.

A business card of a business contact will contain:

- His name

- His company name

- His role in the company

- His contact information like telephone and email

- His address

- And some people include their company’s mission or vision statements on their business cards.

I advise you to have a business card. Do not accept not having one in your organization. If your company, which I doubt it, does not provide you with cards then go out and do them yourself. There are thousands of places where you can do this nicely and cheaply. The bottom line is you must have them no matter what.

Your business card will be like a mini brochure about yourself that you can give to another business contact to keep in touch.

The next time you attend a company meeting or function whether internally or externally, make sure to meet new people. You should have a goal actually to know at least 2 or 3 new people. Make it a habit to ask your new business contact for his or her card. More often than not he will ask you back for yours.

Once you take a business card from someone, do not hurry to hide it in your pocket or wallet. Instead grab it in your hand and read it thoroughly. If your business contact does not ask for your card during or after you read his, offer him yours by saying, “And this is mine” while extending one of your business cards to him.

It is considered rude sometimes to take a business card and not read it.

Now here is the interesting thing, this small piece of cartoon contains a wealth of information to keep a conversation alive with your business contact.

From the address on the card you would know where he or she is living, in which country and city. So you can ask him or her about the city he or she lives in? About living there? Its weather and tourist places for example.

From the position in the company, you can ask about the role in the company and what he or she specifically does. You get the idea, be creative, try to come up with as many topics to talk about from the information you see on the card as possible. I will tell you now about something important you need to do. After you and your business contact separate, you need to capture essential information about the contact on the back of the card.

So once you separate, flip the card and write the following:

- Where you met

- Anything interesting you discussed

- Any promises made (You might have promised to send some documentation about a product you sell or a story you read or whatever)

- Any personal information, like for example your business contact might have mentioned that he or she has two sons or that he or she likes a certain restaurant

- Any features that would remind you of him or her again, like if he has a black beard or if she has wide eyes

You get the idea, try to capture as much information as you can on the back of the business card itself. You might be thinking that the business card is too small to capture all this information, but believe me when I say that you can put all the above and more, I have done it myself many times.

The reason why you should write this information on the back of the business card is that leaving it to memory will not be a good strategy as you might forget or mix the conversations of two business contacts.

In summary, these are some of the important tips you need to keep in mind when you come across a business contact. First, do not forget to have your business cards. Keep a load of them with you, in your jacket, in the car, in the office, in the house. Always make sure that you have your business cards with you wherever you go. They will help perform the above drill and open a conversation with someone. They are the mark of a sophisticated networker. Remember always to read the business card of a business contact the moment he hands it to you. Make it a habit to capture the important information you come to know about the business contact on the back of the business card.

To your success… cheers.

Article Source:

http://EzineArticles.com/?expert=Fadi_Hiyari

Who should I listen to when I am starting my home business? The best voice is your gut instinct. The gut instinct has been extensively analyzed but the results have not been satisfactory. Instead we have egotistical so called business men that attempt to justify their arrogance using gut instinct. In some ways this is a concept that has not place in modern business. It relies on fallible emotions and unquantifiable influences. That can be very worrying if the business decision is going to involve the movement of billions of dollars. That is why it is never advisable to listen to business models that are constructed by someone else.

Mr. Donald Trump can be very irritating. He has recently indicated that he could run for the office of President in the USA. Of course all that would do is to ensure that Sarah Palin or any Republican candidate loses. However the substantive point is that he has gut instinct. He knows that there is an opportunity to make money and will take it. A few months back there was a controversy with that failed beauty queen called Carrie Prejean. Apparently she expressed some homophobic sentiments. The political left came back at her and Mr. Trump valiantly defended her.

The cynics might argue that this is a ploy to keep conservatives on the Trump Empire. People with conservative leanings can sway the market if they put their money where their mouths are. Mr. Trump is an expert at self publicity and the ability to read the market. However not many people can get away with the things that he can get away with. If you decided to behave like him with your home business, then you will be called all the names under the sun. You will also probably go bankrupt.

Looking at that example it is quite clear that gut instinct is innate. You either have it or you don’t. That is why Mr. Trump was able to rebuild an empire from scratch. The business models that work for Bill Gates might never work for your business. You cannot afford to be experimental when you have poured your life savings into a business. That means that you will replace gut instinct with simple business models that do not open up unmitigated risks for you. Gut instinct is good to read about in business schools but is not really appropriate for your home business.

Article Source:

http://EzineArticles.com/?expert=John_Osborne_R.

If you have been a business owners for a few years, you may want to look into getting new business credit card. The benefits and advantages of current lines of credit far exceed those from a few years back. You may even save your business some money if you switch to a new business credit card.

Let’s look at some ways why choosing a new business card may be a good idea:

1. No Expiration Of Rewards – Running and maintaining a business probably takes up most of your time. Using up your rewards should not be a worry to you.

Recently, many lenders have been offering a “no expire” clause for the rewards you build on your new business credit card. You can allow the rewards to accumulate for as long as you need.

I think this is especially helpful for air miles.

2. Fixed APR Rates When Economy Is Struggling – Another reason why you may want to change in your old card for a new business credit card is the low interest rates offered during a struggling economy.

With a little bit of research, you can find an excellent fixed APR rate that will last for the entire length of the time you have the new business credit card.

3. Allowed Transfers – This goes along with number 2. If you do decide to get a new business credit card, look for one that allows balance transfers.

You will save a good amount of money on the new interest rate only when the lender allows you to transfer the balance.

4. Higher Percentage Of Cash Back – I recently saw a card with a percentage back rate of 5%. That is fantastic for a business line of credit. In the past, it was common practice to offer 1% back. I always hoped companies would offer a higher rate for being a loyal customer. They must have heard my thoughts and wishes!

I believe this is a great time to look for a new business credit card. You can find better reward options, rewards with no expiration dates, better interest rated fixed in for the duration of the life of the card, and you will save your company money by transferring all balances to a card with lower interest.

Finding a card with all of these options will take you some time. It more than likely will not be the first card you come across in your search. However, you have the right (as long as your credit is good) to change cards whenever you want. Now may be a good time to do it.

Article Source:

http://EzineArticles.com/?expert=Shawn_M_Casey

Congratulations! After years of dreaming about being your own boss and signing your own paycheck, you’ve finally decided to take the plunge and start your own business. In this day and age, who can blame you?

It’s a safe bet you’re feeling pretty excited about all the new opportunities that lie ahead and you probably have a wealth of ideas to put to use. That’s good, too, because you’ll soon be facing a seemingly never-ending list of things that need to get done. All of them are important, of course, but there’s one task in particular that you should put at the top of your list: a name.

What’s in a Name?

Believe it or not, but your business name is one of the most important decisions you’ll make in these first few months. What you ultimately decide to call your new business is going to affect the way your customers perceive you — whether you’re fun-n-funky or Seriously Serious. It’s important to choose a name that conveys the “feel” of your product or service and the “texture,” if you will, of your brand identity.

If you already have a name in mind, that’s great. If you don’t, though, don’t worry; it may actually save you some time. Think about it: your business is going to need a website. That website will need a domain name. And, ideally, that domain name should be the same as your business name.

Let’s say, for example, you’ve decided to call your new business “Super Deluxe Widget Store.” You get business cards printed up, you pay for a listing in the yellow pages and then you get to work on your website. But when you go through the domain registration process, you find out that superdeluxewidgetstore-dot-com has already been taken.

I don’t need to tell you how that’s going to feel.

Avoid an Identity Crisis

So how can you avoid such a disaster? Easy: when you’re deciding on a name for your business, confirm its availability as a domain name first. You might discover that your first choice is available, which is great, but it’s more likely that your initial choices have already been claimed. It can be a little depressing, especially when you’re just starting out. But it’s not the end of the world.

To overcome the frustration, grab a pen and a sheet of paper and start writing down every single possible name you can think of for your business. You’ll be tempted to leave the “bad” ideas off your list, but write those down as well. So-called “bad” ideas often have a way of triggering a break-through. Just keep writing until you have at least 25 or so possible names. And, yes, variations count. “Super Duper Books” and “Super Duper Book Store” are two distinct ideas.

Now, when you have that done, take a break. Put your list somewhere out of sight for a day or two. Focus your mind on other endeavors and when your list has had time to simmer, go back and re-read it. Highlight or underline the names you like. Jot down any other ideas that come to you. Have fun with it!

Then, when you’re ready, visit your favorite domain registration service and start testing your list of business names. If one you like is available, get it registered. If you don’t, you could come back a day or two later only to find that competitor has nabbed it.

On the other hand, if you’re not thrilled with any of the names that are available, don’t settle. This is your business, after all. Just go back to step one and start over. Make a new list. Choose some new names. Try a new search. Repeat as necessary.

Call in the Reserves

It can be a lot of work. It’s worth it, but if it sounds like too much to deal with or you just can’t seem to come up with any names that really strike your fancy, consider hiring a professional copywriter to help you out. That’s what copywriters are for, after all: to put the right words together.

No matter how it gets done, though, whether by way of sheer will or professional copywriting help, make sure you give top priority to choosing a business name that you can register as a domain. In the long run, you’ll be glad you did. A clear, consistent business identity builds credibility and significantly enhances your market impact. And, besides, would a business of any other name operate the same?