Welcome to the NEW weekly e-zine Business Consultant Weekly

Business Consultant Weekly is a FREE newsletter brought to you by NetChecks of Quartz Hill, CA <http://netcheckspayroll.com> helping small and home businesses succeed.

The goal of this newsletter is to bring insight into the challenges you face whether you're going it alone or working in a group to carve out a niche in the business world. Increase your cash flow and productivity with informative articles on time management, marketing, daily operations, and read messages from well-known motivational speakers that will encourage you to persevere toward your goal.

This e-zine is emailed only to those who have requested it. If you do not wish to receive future issues, please see the unsubscribe instructions below. Also understand that we do not make available our subscriber list to other companies. We value each subscriber's privacy.

Advertisers: 50% OFF INTRODUCTORY OFFER. Target your ads with low-cost, effective e-zine advertising that reaches others interested in succeeding online. Place your ads here for at a 50% savings. See details at the end of the classifieds.

In this issue:

1) Tip of the Week

2) FEATURE ARTICLE: Street Smart Financing For The Home-Based Entrepreneur By Ted Wooley

3) Classifieds

4) FREE Resources

5) MARKETING MINUTE: Increase your Sales by Reversing the Risk By Bob Leduc

"Tip of the Week"

Summer is usually a time when we become preoccupied with vacations, schedule changes with kids being home from school, outdoor activities, etc. Since your customers are also busy with seasonal activities and we've been focusing on advertising to the local community lately, here are some tips for reaching them during these often slower summer months:

1. Check your paper or local chamber of commerce for fairs, festivals, Oktoberfests, etc. where you could set up a table or booth to market your product or service.

2. On your table or in your booth give away brochures, discount coupons or even free samples with your contact information attached.

3. Offer a "summer special" to your customers with either a discount or a percentage of sales going to a favorite charity.

4. Charities often have summer events. Why not participate by donating your product or service and get some free publicity while doing your part for a worthy cause.

FEATURE ARTICLE

Street Smart Financing For The Home-Based Entrepreneur By Ted Wooley

Home-based entrepreneurs in need of business capital have many different, often unconventional, ways to raise money. After reading this article, there will be no room for doubt in the mind of even the most ambitious pessimist about raising business capital. Any business owner can raise money if he or she is willing to put in the effort. Here we introduce you to some creative ways to raise money for business capital.

Trade Credit

Credit on a good or service that you require for your home business Ñ known as trade credit Ñ is a common way to increase cash flow. Standard terms for payment are usually between 30 and 90 days. To get trade credit, provide a marketing plan for generating revenue from your inventory or other business purchase during "float" time (the period of time between order date and the date payment is due to the supplier). You may be surprised to see how many suppliers will give your business credit if you present a credible, home-based image.

Use a Contract, Purchase Order or a Letter of Intent

Convince your supplier or other person whom you do business to grant you credit by showing your own customers' written expression of desire to purchase. The best documents to substantiate this are legally binding contracts or purchase orders. If not obtainable, you can ask your customer to write a letter of intent to purchase an approximate amount of your product within a specified time period. Bottom Line: Convince your supplier you can move their goods or services and that they will get paid.

Factoring

Firms or individuals called "Factors" convert your accounts receivable into working capital, either immediately upon invoicing or when invoices come due. Here's how it works: You submit your customer's order information to the factor for credit approval. Typically, the factor will purchase your receivables and advance you 80 percent of their face value. The remaining 20 percent is held as a reserve to offset uncollectable amounts. The reserve is released after the bill is paid, less any deductions for uncollectables and the factor's service fee, known as a discount (usually 1.5 to 5 percent).

Bank Financing of Receivables

The major difference between banks and factors is that banks don't purchase receivables; they lend against them. Since you remain the owner of these accounts, you must do your own credit checks and absorb any collection cost. Most banks forward 80 percent of the receivables face value while holding 20 percent as a reserve for uncollectible amounts.

Tap Personal Resources and Credit Cards

One obvious way to raise money is to sell personal or business assets. The process is simple and it works. A personal resource available to just about any entrepreneur is a credit card. Few successful businesses have not had to, at one time or another, tap credit cards for cash advances and business purchases.

Defer Payments

Pay a personal visit to the accounting or loan department of your bank or mortgage servicer and tell them you would like to defer next month's payment, and just pay interest on the remaining principle. The net effect is that principle payments are deferred, the creditor earns more interest, and you face longer payoff dates and higher final payment amounts. But you will have more money up-front.

Ask For Refunds

Stiff competition has caused most retailers to adopt liberal return policies. Many will bend their "No Refunds Without Receipt" policy on merchandise they carry. Look around for unneeded items you have recently purchased or received. Take it back to the retail outlet for a refund. At a minimum, you can at least exchange the item for something you would have had to spend money on soon, such as a piece of office equipment.

Request Access To Deposits

If you are a prompt paying customer, many utility companies will allow you to apply utility deposits towards your next bill. That deposit then becomes capital for a growing business. If you're a renter, try to get a portion of the rent deposit or the pre-paid last month's rent payment applied against a future payment.

Dip Into The Pension Plan

Although bedeviled with penalties and taxes, when in a crunch you can borrow against a pension or retirement plan. When comparing several financing options, it might be the lesser evil. The best option is to borrow against the "cash value" of your retirement fund. You, in effect, are borrowing your own money, so the interest rate will be low. Talk to your employer or financial advisor to get more information.

Barter For Goods and Services

Bartering is becoming stronger and stronger each year, with $1 billion traded annually through 300 American trade exchanges. Member ship in an exchange typically starts around $100 and provides two major benefits. First, they complete a form 1099-B at the end of the year to tell the IRS how many trade dollars changed hands. (The IRS says that trade dollars must be treated as actual sales dollars.) Second, you can accumulate trade credit until you need to barter for goods or services.

Borrow Against Patents, Trademarks And Copyrights

It has always been challenging to establish credit using intellectual-property assets (patents, trademarks, or copyrights). Yet it is still feasible, however, with the right approach and right type of intellectual-property. Before approaching a lending institution, get your intellectual-property asset appraised by someone who specializes in intangibles.

Turn A Loss Into A Gain

If you suffered a major loss this year in your business, you may be able to turn the loss into cash flow. Find someone in a higher tax bracket who is looking for a tax reduction, and get them to invest in your company before the end of your accounting year. You gain their cash infusion and they take advantage of a tax break on the business loss. Locate suitable investors by advertising in the newspaper under the "Money Wanted" or "Partners Wanted" sections of the classifieds. Use a heading such as "Tax Credits & Cash-Flow." HBM

Lecturer and author Ted Wooley also serves as president of the Horizons Unlimited Group, a seminar/publishing company he helped found in 1987. HUG's popular line of resources known as the "Insider Reports" is tailored to fill the personal and business financial information needs of the budding entrepreneur. Visit HUG's huge web site at http://www.InsiderReports.com (Selected a "Top 10 Sites for Small Business" by Direct Marketing Magazine 4/97) or call toll-free 888-985-8585 for a free resource catalog. Originally Published at http://www.homebusinessmag.com/

Classifieds

INSIDER INTERNET MARKETING is an inexpensive, timely resource for boosting your online profits. Making money on the internet is NOT that difficult with the right guidance. If you're not making in the profits you'd expected take 30 seconds to read this FREE Message and see what works! Send a blank email to mailto:laura2@freecoolcash.com

NEED cashflow right NOW? This is a must read and it's FREE. No hype, just good advice and a solid plan from a housewife and mother who earned $400,000 the first year she figured out MLM. You can use what she learned to increase your profits (or start from scratch) within a week (really) whether in MLM or not. She's SMART, don't miss her story. Get it now at mailto:laura1@freecoolcash.com

Every online business NEEDS TRAFFIC. Here's an affordable, effective tool...Grandpa's Advertising Service--Now expanded to over 1400 sites submitted! Unbeatable prices--only $25 for 1400+ sites! Check it out at <http://www.ecki.com/replicator/dynamic.cgi?sitesub-10125>

GET EVERYTHING YOU NEED for a for a top-notch web presence...like 24 hr live tech support, 3 years of proven reliability, simple to use webmastering tools, your company.com, all on a reasonably-priced, high-quality web host. Don't make the mistake of trusting your online business to just anyone. Get the facts in a FREE REPORT mailto:choices@sendthis.com or visit <http://www.virtualisys.com/vr/lraushel/faq.html>

Everybody's buying PCs, so why aren't you selling them and profiting from this unprecedented and undeniable boom? SELL WHAT YOU KNOW. Become a Technology Consultant today. Contact mailto:mdltwn@aol.com

STOP!!!Golden Opportunity-Global Vision International are you looking to make some serious cash on the internet? Start with this 3x7 matrix downline. Includes free website, automatic recruiter, free advertising resources, And a great support team. visit http://www.freeyellow.com/members4/gvison/page2.html

WEB SITE OWNERS Are you looking for a way to keep visitors coming back to your site? Look no further. I have a new marketing tool that can help you. This tool will allow you an opportunity to increase & repeat traffic, plus receive information about your visitors. For Details visit http://www.free-vacation.com/imc/univision.html

"The Silent Partner" "Because you need a fundraising edge" Fund Raising Software for Charities & Non-Profit Organizations Donation Tracking Receipt Printing Mailing List Mangement Easy to Use Sophisticated Practical Convenient Supported Need more information? Of course you do! Contact us at Wachsmann Communications: Tel: (604) 852-3761 mailto:info@silentpartner.ca mailto:rossbev@uniserve.com Our Website http://www.silentpartner.ca

FREE VESTED INCOME Watch your Vested Income GROW without sponsoring anyone. The DHS CLUB has created a lowcost, innovative Team Method of Network Development. Guarantee minimum commission. Lock in your FREE position NOW! It won't cost you a cent. Visit at http://www clubshop.com/621

SMOKERS SAVE MONEY At Riverbend Discount Cigarettes!! Free Delivery anywhere in US. We accept coupons. We also carry tobacco products. Email rb@eznet.net Start Saving now!!

Tired Of Waiting To Find Out if You Are Approved For Your Computer Lease? You Deserve An Answer The Day You Apply! A,B & C Credit Accepted. First And Last Month Payment FREE. NO Down Payment! No App Fees! http://wbcchar.hypermart.net/horizon2000.html

AUTORESPONDERS sell for you 24 hrs a day while your busy conducting business or on vacation. If you're serious about doing business online, you should have all your sales messages on autoresponders. We have the best prices on the net! Plus, make some extra money for referring this service to others. Visit <http://www.sendthis.com/c1102>

EARN EXTRA INCOME with Grandpa's Associate Program. Resell our site submission services. Earn $10 - $25 per submission order from your site! Free To Join! Get a free website and coded banner when you join. Visit <http://www.ecki.com/replicator/join.html>

Learn how to GET OUT OF DEBT and EARN EXTRA INCOME. Subscribe to the Debtzapper Financial E-zine for good advice and serious debt reduction strategies. That's not all, earn extra cash with your FREE Debtzapper Web Recruiting Site! Visit <http://www.debtzapper.com/rep.cfm?id=13877>

NEED AN ALTERNATIVE to the prices traditional payroll companies charge? Get your payroll and bookkeeping done online and realize "major" savings. Get your FREE 30 day trial now at <http://netcheckspayroll.com>

PEOPLE WORLDWIDE DEMAND TO KNOW "HOW TO COIN MONEY ON THE INTERNET BY CREATING A ëWORLD CENTERí: The Ultimate way to turn the Web into your personal cash machine!" All you've got to do is request your FREE COPY of Dr. Jeffrey Lantís startling new report. Mailto:drjlant@worldprofit w/ "Dr. Lant, I want to make the REALLY BIG INTERNET MONEY. Send me your new report pronto!" in subject.

Get motivated! Be successful and live life to the fullest! Visit UnCommon Courtesy & Coaching at www.uncommoncourtesy.com. Free newsletter! Huge bookstore! Gigantic resource center! Business coaching, executive growth services, and motivational e-mail for companies of all sizes. Subscribe to our newsletter at subscriptions@uncommoncourtesy.

Overcome health challenges through natural, drug-free healing. FREE bi-monthly newsletter points the way to good health and financial opportunity. "Turfseer's Alternative Health & Business Opportunities Newsletter" For the latest issue and a subscription, send an email to ar528822@hartley.on.ca For a sample, go to our webpage at http://hartley.on.ca/turfseer

AD RATE SPECIAL

Place your ads here at 50% off the regular rate of $5 per issue. That's $2.50 per issue for a YOUR best 6 line ad (65 characters max per line). That's only $10 per month. If you have more than 6 lines, just add $1 per extra 65 character line. Offer good until August 31, 1998.

First, e-mail your ad copy to .. mailto:webmaster@netcheckspayroll.com then print out a copy and mail the print-out, with check or money order to: NetChecks, 42263 50th St West, Suite 614, Quartz Hill, CA 93536. If you have any questions, please call (805) 722-2286.

FREE Resources

Need business advice, but can't afford to pay for it? Check out a free e-mail counseling service from SCORE, the Service Corps of Retired Executives, a nonprofit association dedicated to encouraging the formation, growth, and success of small business nationwide through counseling and mentor programs. A resource partner with the Small Business Administration, SCORE now offers a free e-mail counseling service to small business owners who send in their questions. SCORE volunteers are retired business executives who voluntarily share their expertise with new business owners. All counseling is confidential, and you can choose a counselor with expertise in your business area. For more information, check out SCORE's Web site at http://www.score.org

Be the first to know! Sign up for this daily newsletter that brings breaking Mac industry news headlines from MacWEEK.com right to your desktop! http://www.tipworld.com/

MARKETING MINUTE

INCREASE YOUR SALES BY REVERSING THE RISK Copyright 1998 By Bob Leduc

You may be losing a lot of business without knowing it. It happens every time a potential customer decides not to buy from you because they may not get all they expect from your product or service. You can save much of this lost business by reversing that risk. One way to reverse the risk is to guarantee every claim you make. For example, tell your prospects:

"If for any reason (product or service) doesn't deliver every claim or promise we made, we'll refund 100% of what you paid."

You'll be amazed at how much more business you'll get with this simple guarantee. Reversing the risk breaks down your customer's resistance and instills confidence that your claims must be true. It enhances your credibility because you certainly wouldn't guarantee a full refund if your product or service didn't deliver as promised.

Maybe you're reluctant to provide a money back guarantee because you're afraid some people may take unfair advantage of it. I've learned by experience that you don't have to worry about refunds if you offer a quality product or service at a fair price. The buyers who take advantage of a money back guarantee represent only a tiny percentage of the total increased business generated by the guarantee.

MAKE YOUR OFFER BETTER THAN RISK FREE

Did you ever decide to buy something then change your mind at the last minute? Maybe you even had your checkbook or credit card out but stopped at the very last second. Some of your potential customers do this. You can convert many of these "almost sales" into customers by offering a guarantee enhanced with a bonus. TV informercials use this technique all the time. You can copy it to increase sales in your business.

To use this technique, add something extra to your offer as a bonus and tie it into your guarantee. If your customer is dissatisfied and uses your guarantee, he or she can return the product or cancel the service and get a full refund. But, they don't have to return the bonus item. Now your offer is better than risk free. This "free bonus you can keep" motivates many "almost buyers" to take action and become customers.

Sometimes you can offer a guarantee your customer automatically gets from somebody else. It may be a guarantee from the manufacturer or even a legally required guarantee. For example, most states require life insurance companies to refund 100% of the premiums paid when a policy is returned within 10 days after delivery. Many insurance agents persuade prospective buyers to submit an application with the premium payment based on this guarantee. This is a good example of a guarantee provided by somebody else (government regulators). It's also an excellent example of reversing the risk from the buyer to the seller.

REVERSING THE RISK FOR A SERVICE BUSINESS

Removing the risk by providing a money back guarantee works well when a product is involved. But, how do you provide a guarantee when the transaction involves a service? Your customer can't return yesterday's plumbing job. The work was already performed.

Instead of offering a money back guarantee, a service business can provide a guarantee to solve the customer's problem. For example, our plumber in the example above can guarantee to come back without charge as often as necessary to stop the leak. A landscaper can replace without charge any plants that don't survive for at least 6 months. A sales consultant can continue working without charge until the promised sales results are achieved.

REVERSING THE RISK FOR A BUSINESS OPPORTUNITY

Nobody can guarantee someone else's success in operating a business. But, there are some things you can do to lower the buyer's risk.

If you offer a MLM/Network Marketing business opportunity, your company is responsible for any guarantees involving their products or services. However, you can lower the business risk for your new distributors by offering support in sales and recruiting. For example, you can:

* Provide free prospect leads. * Recruit their first few distributors. * Conduct 3-way conference calls to help persuade their prospects to sign up. * Provide free recruiting postcards.

Any sales or recruiting support you offer reduces the business risk and convinces more people to sign up under you.

Start thinking about some of the things you can do in your business to reverse the risk for your potential customers and clients. Then implement them and watch how fast your sales and profits increase.

Bob Leduc retired from a 30 year career of recruiting sales personnel and developing sales leads. He is now a Sales Consultant. Bob recently wrote a manual for small business owners titled "How to Build Your Small Business Fast With Simple Postcards" and several other publications to help small businesses grow and prosper. For more information... Email: BobLeduc@aol.com Subject: "Postcards". Phone: (702) 658-1707 (After 10 AM Pacific time) Or write: Bob Leduc, PO Box 33628, Las Vegas, NV 89133

If you have any questions or comments regarding this newsletter or the content, please email Laura Raushel at mailto:webmaster@netcheckspayroll.com

To unsubscribe to Business Consultant Weekly put REMOVE in the BODY of an email to mailto:business-consultant@oaknetpub.net

To subscribe to Business Consultant Weekly put SUBSCRIBE in the BODY of an email to mailto:business-consultant@oaknetpub.net

(c) Copyright 1998 NetChecks Payroll & Bookkeeping.