Archive for

Can Your “Business Mentor” Train You to Make Money Online?

Are you looking for a good business mentor to help you build a solid income online? If you are not, you should be, it is suggested that successful Internet Marketers had prior training and mentoring before achieving their online success. But once you find a business mentor that meets your credentials how can you maximize their training to earn money online?

Even the top business mentors, and trainers need to have entrepreneurs, that are trainable. If you have been online for any length of time I am confident that you have heard this statement suggested before. And if someone was to ask you are you trainable, do you think anyone is really going to say no. The fact is even the most unqualified person is going to say they are trainable. In order to make sure that your business mentor will work for you there are key points that you have to diagnose about yourself first.

Can Your Business Mentor Really Help You?

Lets find out how trainable you really are. Whether you have a mentor now, or are looking for a business mentor in the future, discover if you have what it takes to make money, even if you have the best training platform available.

1.) Time Factor – Do you have time to be trained. We live in a busy society, and it may be difficult to sketch out time to get the right training and mentoring. It is suggested that you should be able to offer two hours a day when starting a business. If you can’t offer yourself that time frame then what are your expectations for the training?

2.) Keep Appointments – A good business mentor will book appointments in advance. Its suggested to be critical to have one on one time with your trainer. If at all possible be diligent and keep your appointments. If you don’t attend them, they can’t do their job.

3.) Re-invent The Wheel – If you know so much you do not need a business mentor. Follow the training precisely, they did not earn their leadership title from not testing different strategies. Take their advice, implement their strategies, and do not go off and try your own thing. Let them do their job.

4.) Follow Steps – Steps are set up for a reason. What may not make since to you on step one, may come together on step five. You are joining with them to learn, and be trained on the right way to build a business. It doesn’t happen overnight, it takes time to learn the ins and outs of building a successful Internet Business.

5.) Take Constructive Criticism – A business mentor is going to tell you if you did something right and will sing your praises with you. On the flip side if you do something wrong they are going to tell you that as well, and more then likely suggest a different strategy to dealing with your mistake. Mistakes are made every day, learn from those mistakes. Instead of getting angry at your trainer for telling you what you did wrong, learn from those mistakes and take their strategies to improving on them.

6.) Do Your Home Work – This isn’t school, however you should view it as an assignment. When a trainer suggest you do something it is in your best interest to do that step before you meet with them. They will appreciate your dedication, and you will appreciate what your learned.

7.) Follow Protocol – You want a relationship with your business mentor. You want to feel like you can call upon them for help. However, do not abuse their mentorship. What is the protocol for questions, what are their hours of operation. Most mentors won’t mind adjusting a schedule conflict to assist people, however if you call at midnight to ask a question, it may not be a good start to a solid business relationship.

8.) Job Description – What is your job? What is your business mentors job? Your job is to implement the strategies that you are taught. Your mentors job is to teach you those strategies. They are not secretaries, and they don’t do the work for you

9.)Time – Management – Business mentors will teach, guide and show you how to build a successful Internet Business. They are not your cheerleaders telling you to get to work, nor will they check up on you consistently. As a business owner its your responsibility to get the job done.

The Internet is a mass resource, and has offered people starting an Internet business a legitimate opportunity to make money. Regardless of what people may suggest, starting an Internet Business, is not automated or without responsibility. Finding a good business mentor is suggested to be critical in training you to have a successful business. However, even the best business mentor will need trainees who follow the above nine steps.

Do you think you can follow the nine steps above? If so, the next time your business mentor ask you if you are trainable, you can look at the eight steps outlined, and say with confidence, yes I am more then trainable.

When is the Right Time to Sell Your Business?

Those looking to sell a business often ask ask business brokers such as ours a simple question: “I don’t know if I want to sell my business; so when is the best time to sell?” The answer to that question can have a dramatic effect on what the value of the business for sale is. At Corporate Investment Business Brokers, we’ll provide you with a comprehensive business valuation to help determine the worth of your company and whether selling is the best option for you moving forward. As with all commodities, the value of a business fluctuates with events or circumstances that are often beyond the control of the owner. Recently, a local business owner had his business on the market for $750,000. There was great buyer interest but the seller decided not to sell but rather to wait a year or two until he felt hat he could get even more money for it.

Tragically, he became seriously ill and could no longer operate the business himself. He decided to turn the day-to-day operation of the business over to his long-time manager and friend to operate. But after a great start, his performance steadily declined and the business soon developed financial difficulties. Six months later it was sold for $195,000. There are several things to think about when determining the right or wrong time to sell a business. The following is a list of positive factors that may suggest the time is right to sell. How many of them apply to your business at this time?

o The financial picture of the business has improved over the last several years, showing increased gross sales and owner benefits each year. Potential buyers love to see a business that is increasing in sales and profits.

o Interest rates are relatively low. The monthly and yearly debt service on the business will be lower, thus making the bottom line of the business more attractive.

o The stock market and other vehicles to earn money on your cash are down. A volatile or declining stock market will cause investors to get nervous about placing all of their money in it. They will look for a better place to put their money for a higher rate of return and a business is a logical place to do so.

o A desirable location is always a plus. The tremendous growth that we have experienced in Southwest Florida over the past few years, along with a great climate and beautiful surroundings, attracts affluent new residents with a great deal of discretionary income.

All of these factors are a big plus for the business seller looking to gain top dollar for his/her business.

Your Small Business Marketing Guide in a Recession

Your world will never be the same.

Sounds like a bit of an ominous statement doesn’t it?

Considering the amount of bad news that flows throughout our daily lives it’s nearly impossible to look at the above statement and attach a positive meaning to it, however I see great opportunity in what I am writing to you.

We are witnessing our world undergo huge changes almost daily. In the past few years, we’ve seen an historic shift of technology and economy unlike any other, and the transition is not near completion.

“The only constant is change, continuing change, inevitable change, that is the dominant factor in society today. No sensible decision can be made any longer without taking into account not only the world as it is, but the world as it will be.”
- Isaac Asimov

Change will always occur, that’s inevitable. As Asimov reminds us, a lack of acknowledgment or understanding of this change can make or break businesses [and lifestyles] forever.

Where Did The Money Go?
The advent of global economy and technology-enabled business practices are in a rapid state of flux. Growth and change are a given in business, but we’ve never witnessed such rapid transition in such a short time period, the effects of which are being felt on every streetcorner of the world.

The recent economic events and credit crunch are moving the tectonic plates of business and the cozy confines of national or local economy are shifting to a global platform. These shape-shifting occurrences are too large, too rapid and there are too many moving parts even for the experts to comprehend.

How does this effect you?
For starters, just look around your neighborhood, listen to your neighbors or friends. The global housing bubble has popped. This part of the puzzle will directly effect you, me, and every citizen on this planet as millions upon millions have based so much of their personal wealth, retirement, and family around their homes.

Next, consider that just recently the first of the Baby Boomer generation retired and a trickle began the first stage to what will certainly turn into a raging river of generational change. A large portion of the Boomers base their retirement on two major components: housing and the stock market. This is the largest generation we’ve ever seen. They will be transitioning to their golden years and many will be forced to retire due to health problems, job competition, etc. The problems we’ve experienced in both housing and stocks and the pressures felt by Boomers will shape the future of business significantly.

The massive transfer of wealth and earning potential from Boomers to Generation X is underway. Further, more jobs will be handed down to a smaller group of people, which will cause a ripple effect of opportunity. On the other hand there will be less total disposable income coming from the Gen Xers vs. the Boomers because of this. Many businesses will be effected as their sales are forecast on a premise of Boomer spending that simply will cease to exist.

You + Me + Technology
The advent of web technology and tools such as laptops, e-commerce and social media are contributing to a massive global population shift. We aren’t uprooting and destination-bound like people were in 1849 during the Gold Rush, but the tides are changing nevertheless. We don’t need to move houses, we have moved into a new virtual space in our minds and the impact is huge. We don’t do business like we used to, we don’t shop like we used to, we don’t interact like we used to, we don’t write letters, we don’t do a lot of things that were commonplace as little as 10 years ago.

In addition the growing trend of crowdsourcing will effect every aspect of life from politics and religion to science/technology and business. It’s also becoming common for corporations to listen in and have their customers or focus groups do the thinking for them. This is not a case of the evil overlord manipulating his pawns – many are willing to do the work – they’re even passionate about it. This is smart for businesses and brings about a more community-oriented, inclusive customer relationship in the process.

Do you think the Twitter trend on Capitol Hill will have an effect on politics? Do you think social networks such as Facebook will or the gravitation from television to online media will change business? You bet it will.

Your local shop
The speed and connectivity of web-enabled business has given consumers a power unlike they’ve ever had in history. This will continue to make a huge slice of the business pie disappear. A product seller or distributor will have to really take a look at their business model and ask themselves how they will be able to compete or how they add value. Many local storefronts have already become casualties of this movement. The reality is many store owners will be expecting customers to travel to them in addition to paying the shop overhead when often that same customer can compare dozens of prices, offers and customization options for the same product in an instant online.

Here’s where you’re wondering about the great opportunity I mentioned earlier…

As you’ve probably come to expect from my blog posts I am an eternal optimist for your small business. True, I see many doors closing and many businesses becoming extinct, but these shifts are being nothing more than opportunities for you. These shifts are part of the natural ebb and flow of the business life cycle. They are a reminder that the world will always change.

“Necessity, who is the mother of invention.”
-Plato

When we look to the future we can feel comfort in the fact that we as people always do our best work in times of need. Right now business needs to change. Right now business owners are seeing their profits drop and necessity is staring them in the face.

Pattern-recognition is a survival method innate to many a living creature. The patterns are difficult to detect in the business world because it’s changing by the minute. Not having the time or knowledge to recognize these patterns might overwhelm some business owners into making a bad decision for themselves. The single most important work a business owner can do is to spend time on their identity. What is my business? Who are my competitors? Where is the business world going? How can I be positioned for where it’s headed? These are a handful of a hundred questions to answer for business success. The prevalent pattern is one of flow, of a shift in power from corporation to consumer, from passive television watching to active internet searching. That’s the pattern you need to see here. In addition, if you’re waiting for things to get back to normal, I’m here to tell you, they won’t.

Someone moved the cheese. Let’s find some new cheese.

I see great opportunity for businesses that create their own product. Today’s business world demands not only something to be created but it must be unique in what it offers or it will get lost in the shuffle. Give your business a unique product, something with value and it will be given every chance to succeed. Your business has a global reach. You have the ability to put your product in the hands of someone halfway around the globe. That is mind-blowing. You just have to put a product out there that will do the work for you. You can’t physically travel the globe in ways that your product can. Create a product that will do the walking and the talking for you.

I see great opportunity for unique service-based businesses. The key word here is ‘unique’. The ‘me too’ business doesn’t differentiate itself so it’s already going to have a harder time standing out. Create a service or add to your service by latching on to the wants or needs of your customer. What does your hotel customer need? What does your technology offer to save them time? How can you be unique? There are many free tools available online to help you gain the answers to these questions and distribute your message to your target. The sheer volume of social tools available to you on the web is incredible. These tools are essential to your service. Again, create something that will walk and talk for you.

Now is the time to spend as much time on strategy than ever. Now is the time for you to stop the busy part of business and really ask yourself how you can answer the questions I’ve raised.

The shift is happening.

Your world will never be the same. That’s a good thing.