In this issue:

1) Tip of the Week

2) FEATURE ARTICLE: How to REALLY Make More Money in Your Business by Robert Imbriale

3) CLASSIFIEDS

4) FREE Resources

5) POWERQUOTE

6) MARKETING MINUTE: Four Killer Tactics to Save Money in Marketing by Osama Taha

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If you'd like to read previously ran tips and features, go to http://netcheckspayroll.com/newsletter.html

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How to REALLY Make More Money in Your Business By Robert Imbriale, Business Coach

You know how to make money. You know how to run your business. You may even know a thing or two about marketing your business. But do you know the true cost of making money with your business?

When I ask this of the business owners I coach, the answers are always the same and usually includes a stunned "deer in the headlights" look on their face.

The truth is that you must figure out the cost of making money and I am going to show you exactly how to do that right now. First, let me explain what I mean by the cost of making money.

Let's look at it this way. How much money do you have to make in order to take home a single dollar in net profit? Do you have to make 2 dollars, 5 dollars, 50 dollars, or even more?

To find out how much money you have to generate to be able to take out a single dollar, you'll need to take a close look at your sales. I like to do this on a monthly basis, so I will take a close look at how much gross income I've generated in any given month.

With this number, I will then subtract my month's expenses. Now you'd think that you'd have the final net number at this point, but you really don't. What I then do is take a bigger-picture look at my average expenses per month for the past year. Then, I'll look at my average gross sales for the past year.

Your gross sales for the past year, divided by 12 will give you your monthly average gross sales. Do the same for your gross annual expenses. Now you'll have a much better picture of where you stand.

Look at your numbers for the past month and compare them to your annual average. Are you higher or lower than average this month?

Let's say that you have an average gross monthly income of $5,000 and monthly expenses of $2,000. Now you'd have an average monthly net income of $3,000.

Are you with me so far? Great!

Now look at your current month's numbers. Let's say that this month, you've sold only $4,000 in goods and services and you've spent $2,500. That would give you a net profit of just $1,500.

So that would mean that this past month, your net income was below average. That is why you really must look at both your past month and your annual average together. What I like to look at is the following number, called a multiplier. You get this number by doing a little more calculating.

Take your annual average gross income, and divide it by your annual average net income. The number you end up with is your multiplier.

Let's look at this as a real-time example to make sure it is clear. My annual average monthly income is $5,000 and my annual average expenses are $2000. If I divide 5000 by 2000, I get 2.5.

That is the real number you are after!

What it means, in this example, is that for every dollar I take home, I have to make at least $2.50. Or as a percentage, it's 250%. Did I get your attention yet?

Now when you calculate taxes on top of that, you'll realize that the number is actually much higher, but for this exercise, we'll stick with a simplified calculation.

When I found my number it was much higher than 2.5. And as I coach more and more businesses, I realize that a multiplier of 5, 7 or even 9 is not unheard of. I wondered how any business could stay in business when every $9 in sales resulted in $1 in net profit, but they do.

Think about it, almost a 10 to 1 ratio of sales to net profit!

When you really understand that for every dollar of income that you bring home with you, you actually have to make many more times that amount, you begin to look at the money you're spending in a whole new light.

In fact the day I discovered these calculations, I was also looking at my phone bills. I had one for my portable phone, another for my calling card, and then I had my main phone numbers, and then the toll-free numbers. It was quite a task to say the least.

When I took a close look at the bottom line, then figured out that my nearly $500 in phone bills that month would actually mean that I had to make almost $2100 in sales, I jumped a foot high!

I immediately thought of how much of an opportunity cost it really was to have been paying so much for my telephone service. While I couldn't just disconnect my phones, I knew I had to work hard to find a way to cut down on my monthly telephone expenses.

I grabbed the phone and called a few folks in my personal mastermind group. I found long distance rates ranged all over the map. Some were high, some were lower, and all had confusing restrictions, rules, and other nonsense that had my head spinning in no time.

Now you know why I never attempted this sort of thing before. It was daunting, but I knew that every dollar that I would shave off my long distance bill would be multiplied many times over, so I persisted.

I spoke to telephone company reps, I spoke to network marketers, and I even spoke to the big three telephone companies. All this and I was still not happy. I just knew I could do better.

My goal was to chop my phone bill down to size and I didn't quit until I was able to do just that.

Here's what I did, and I encourage you to do it too. I found a company that charges one flat rate for your long distance. There are very few restrictions and you'll always know what your telephone costs will be, no matter what - even if you spent the entire month on the phone! (As I can certainly do!)

I liked this idea. And when I learned that I could use it with my portable phone, my toll-free number and I could use this same service in place of a calling card from any phone, I was really excited.

I was able to cut my bill down from over $500 to less than a $100 in one fell swoop - and I could use the phone all I wanted? Now they had my interest!

I had saved myself over $400 but in reality that number was much, much larger when you consider the multiplier factor. What I had really done was not only cut my expenses in this one area, but had improved my net income - the real goal of this exercise.

You could also use this same process with your other recurring expenses. Here are some ideas you might want to look into.

For your advertising, buy more of it at a time - advertising mediums will always give you a discount if you buy more than 1 ad at a time. I never buy less than 3 ad insertions at a time - the typical amount you need to buy to get a frequency discount.

For your Internet service, look around for the best deal. You can now even find free Internet access from several providers that might suit your purpose.

Join a barter network. I can usually get many items on barter that I would normally have to pay cash for. The services of particular interest are printing, advertising, and most office machines and supplies.

The most important thing is keep an eye on the money that goes out the door. The less that goes out, the more you have left for you. When you consider that every dollar you bring home actually represents many more dollars in gross sales, you'll tend to work much harder to keep as much money as possible in the business.

You work hard for your money, and you deserve to take home as much of the money you make as possible. So pay careful attention to your expenses and always be on the look out for ways to chop the cost of your expenses down as much as possible.

Think of how you can use the Internet to take some of the cost out of things like paying bills, banking, trading stocks, advertising, selling and now your long distance bill too.

I'm always finding new ways to cut costs with technology, especially the Internet.

Here's the information on the long distance service I am speaking about earlier- it's worth looking into to see for yourself just how much money you can save by using this service.

Just point your web browser to http://www.telecommall.com to get all the facts (and a free gift too) and get set up immediately or you can call them at 914-434-6767.

Once you've made these changes and saved some money, write to me and tell me all about it! I'm sure your information will be a welcome edition to a future article!

---------------

Robert Imbriale is an internationally known Business Coach. He is the author of hundreds of articles on the topic of Internet marketing and the creator of the popular Unlimited Leads Program (http://www.unlimitedleads.com). For a FREE COPY of his e-book, Internet Marketing Secrets, go to http://www.unlimitedleads.com/ibs.htm To contact Robert by e-mail, send your messages to Robert@ultimatewealth.com

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"You have to expect things of yourselves before you can do them."

- Michael Jordan, former Professional Basketball player

Questions to Ponder

What do I expect of myself?

How do my expectations match up to my goals?

Are they in sync?

Copyright the Discian Group from the Powerquotes ezine. See http://discian.com/powerquote.htm for more information.

Four Killer Tactics to Save Money in Marketing

by: Osama Taha

Marketing is the core of success for any business, be it online of offline alike.

The main problem facing businesses when it comes to marketing campaigns, is definitely the cost. It is widely believed that any effective marketing campaign requires a sizable investment.

Well, that however, is not entirely true. You can still pull a very effective marketing campaign with a very small amount of money, if you follow those 10 money saving tactics:

Tactic # 1: SMALL is big ----------------------------

Sounds crazy, right?

well, it is not really, sometimes you can make a greater impact in your marketing campaign, simply by being smaller than all the rest in your league.

Imagine a well written two-line killer ad, compared to half a page of if's and when's, which pulls the reader more?

Right, the capsule ad, with the remedy inside.

Now, whether you run your ad in print, E zine, TV or radio, the smaller it is, the less money you pay, yet such a capsule ad can act like a dart, straight into the bull's eye.

All you need to do is to think small, avoid expensive media, use your imagination to come up with new marketing idea that don't cost you money, or not much.

Another way to grow bigger by being smaller is to concentrate on a small target market, define your niche market, eliminate the (not-so-sure) portion, and pound the rest with all you have.

The wisdom of this would be, in a small market you will stand tall even if you are a small business, or a one person venture.

Tactic # 2: Plan on Planning: ----------------------------

Planning saves you money, in fact, lots of money.

While marketing is considered the least well planned of all major business activities, a well planned marketing campaign can mean the difference between making profit and losing money.

Marketing money is often spend without a clear rational on how does it fit in the overall marketing strategy, in terms of results and efficiency.

On the net, planning a marketing campaign will not only save you money, but will save you both time and effort, which are the three major assets you consume as you do business online.

Conduct a thorough research, determine where, how and when to launch your marketing campaign, instead of wasting your precious time posting ads to free classifieds that never generate leads or to some E zine that fall far from the scope of your business.

I am not saying the above should not be done, but to be done according to a well tailored, well researched plan, so you will know where to place your ad, how big or small, and what to say in the ad, and above all when.

That can only be achieved through a comprehensive marketing plan with a beginning and an end, making room for a new plan, to cope with the new developments on the ever changing cyber world.

Tactic # 3: Creativity and imagination: --------------------------------------

Some how, the majority of marketing campaigns are look-alikes, you saw one, you have seen them all, and that is probably among the main reasons why the majority of online businesses fail.

For your marketing campaign to pull desired results, you need to be different, to stand out and be unique from the competition, do not be the first among equals, be the first, period.

When it comes to marketing, no idea is too crazy or too wild, as long as it serves the purpose for which it was created.

Be innovative and creative, use your imagination, come up with something new, something no one else ever thought possible, test it on a smaller portion of your market, if it works, launch your campaign.

You may have or have not heard of the term "USP" Unique Selling Proposition as an essential element in presenting your product or service to beat your competition.

Today, I present to you the equivalent of that in marketing, "UMS" Unique Marketing Style, one that you have created. You will be amazed how well it would work for you.

Tactic # 4: Integrate your communications: -----------------------------------------

Most marketing campaigns diversify by using a variety of channels to communicate their message to the customer. Mostly this is done in an uncoordinated manner, so the messages are often inconsistent in both style and content.

Such campaigns often render very poor results, and they even might serve a blow to the image of the company or the business.

Integrated marketing communications achieve far more effective results than inconsistent, incoherent campaign. You can achieve such integration by applying the following two-step approach:

1. Identify all the possible channels of communication with your niche market, and carefully select the ones you are going to use.

2. Design an overall message strategy that conveys exactly what you need to communicate to your market through all different channels, maintaining a consistent style and content.

If you apply this method, you will be able to achieve a more effective marketing campaign, while saving a great deal of money that may have otherwise been wasted on inconsistent approach.

A final note: -------------

In a nut shell, marketing is a game of intelligence, vision and imagination, the only stupid marketing idea is the one that has not been tested before applied.

So, test those 4 killer tactics and see if they would save you money, and achieve better marketing results at the same time, two for the price of one. And remember, thinking crazy is good, as long as you know what you are doing.

--------------- This article is written by: Osama Taha, © 2000 mailto:webmaster@marketingdreams.net Editor and Publisher of the bi-weekly E zine {All Your Marketing Dreams} mailto:marketingdreams-subscribe@topica.com He is also the Owner of Internet Marketing Dreams Helping marketers help themselves http://www.marketingdreams.net

--------------- Are you a home-based online business? Subscribe to the bi-weekly E zine {All Your Marketing Dreams} and download 20 free E books, that will help your business succeed. mailto:marketingdreams-subscribe@topica.com

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