Thursday, June 11, 2020
Profitability by Type of Customer
When evaluating what's working well in your business and what's not, one of the aspects I like to view is what Types of customers are most profitable for me. If I can narrow down the types of customers that are profitable, I can streamline my workflow, simplify my marketing, become known in those industries, and increase my bottom line.
Some businesses actually use Classes to look at the different types of customers they have. An example might be Commercial versus Residential or Nonprofit versus Business. In my business, I prefer more detail about my clientele (I want to know what industry they represent). Since I find numerous classes cumbersome to review, I use the Customer Type field in QuickBooks to describe clients' industry (the QuickBooks default is how clients find you) and a Custom Field for Source of Lead. You can assign only 1 type to the customer, but you can assign a different type if you have multiple jobs for a customer. Other examples of Customer Types could be the type of residence (condo, townhome, single-family home, estate) or location (city, county, subdivision) or type of manufacturer (biotech, pesticides, cold cut meats), type of business (defense agency, non-profit, medical facility) or size of business. Think about what helps you identify your ideal client and that may give you ideas.
While you can get reports to show you Sales by Customer Type, that's not always the total picture. You may find that in some cases where the revenue is high, so are the costs. So having the ability to look at the profitability of a type of customer is helpful. If you look at the standard P&L reports, you will not see the ability to do a Profit and Loss by customer type. However, if you go through the custom reporting, you can create a report that will let you see the Profitability of Customer Type in the same format as your P & L. Here are the steps:
- Click on Reports> Custom Reports> Summary
- On the Display Tab, select your date range and Report Basis (cash or accrual)
- In the Column section, select Customer Type from the drop-down menu
- Leave Display Rows by Income Statement as is
- You might also want to see Percent of Row - this will let you compare different Types not only by dollar amount but by the percent of your business
If you have lots of customer Types and sub-Types as I do, you might find this report will be easier to view and examine if you export to Excel.
This report does not show all the expenses in your business - just the ones charged against a customer. But this can still be very helpful - especially if you have lots of costs associated with certain types of customers.
This report can provide an interesting insight into your business. After all, it's not just the total dollar that these various types of customers bring into your business but the overall profitability of the different types. And that's really what it's all about, isn't it?
Muir & Associates helps businesses use their Intuit products more efficiently and more effectively so businesses can focus on their business and make more informed decisions. We provide sales and support services. Monica Mitchell Muir has been helping businesses with their QuickBooks products since 1996.
http://www.muirassoc.com
http://muirassoc.com/blog/
Article Source: http://EzineArticles.com/7639111
Wednesday, June 10, 2020
The Anatomy of High Ticket Sales
Photo by Gustavo Fring from Pexels
In this article, I am going to explain exactly why high ticket sales are more rewarding than other online business models, both financially, and emotionally.
I am going to start out by comparing my journey across Canada in an RV with an online business.
An RV is a beast of a vehicle and it takes a lot of gas to do the 5000km trek. You couldn't possibly drive an RV that far on one tank of gas.
And at the same time, you needed your RV to be in good shape to make that journey. A solid engine, good wheels, and a good driver.
It may seem strange to compare an online business with an RV trip but basically, to build an online business, you need a good vehicle (think system) and lots of gas (think traffic).
Most people who are trying to build an online business quickly realize that making money online takes a long time unless you have a high dollar product or service on the back end.
The problem for most people is to find a good high-end offer and then get enough people in front of that offer. Having a program where you can replace your current income in the first month of business is possible if you choose a good high ticket sales offer and you connect with the right audience.
Most people aren't looking at building an online business in terms of how much they make per sale, when actually it is the first thing they should have considered in their business.
In business of any kind, it's all about the profits. Online, if you don't have a high ticket offer, then those profits aren't going to happen.
Most people dabble in businesses where they can earn tiny commissions. An even when they generate traffic, they really can't change their life with it.
They say that it takes the same amount of marketing effort to make $50 per sale as it does to make a $1000 sale. Well, that's simply not true because more people will be willing to take a chance a purchase something for $50.
But the effort is not proportionate.
Let me explain...
If your goal is to make $10,000 in a month and you have something where you earn $50 per sale, you are going to have to sell 200 of them.
But if you are offering something where you earn $1000 per sale, you only have to make 10 sales to make the same amount of money.
So although it is easier to make a $50 sale than a $1000 one, you have to make a whole lot more sales to get the same results. And what you will find is that people who join you in a $50 program are probably not that serious and will soon drop out and your business will be a continuous strain to keep replacing the people who drop out.
But with a $1000 program, you not only have to make fewer sales for a bigger reward, but you also end up with people in your business who are serious about building an internet business with you.
And that is why high ticket programs are so much more rewarding, both financially and emotionally. You make more money and you surround yourself with people who are serious about online business.
If you are serious about making money on the internet or building an online business, your goal should be to find a program where you can earn high ticket sales, that you believe in and that works for you.
Once you find the right program, you can take your RV and go anywhere you want because you will have the freedom to choose what you want to do.
Rebecca Ness is a mother, a travel lover, and an internet marketer who used high ticket sales to work from anywhere and enjoy life. To see exactly what she is doing you can visit her at http://www.rebeccaness.com
Article Source: http://EzineArticles.com/8052853
Tuesday, June 9, 2020
How MLM Gateway Works
What is MLM Gateway?
MLM Gateway connects those who are involved in network marketing, providing home-based business leads. By contacting other members and presenting them the home-based business they work in, MLM Gateway users create effective lead generation. This results in a rapidly growing network of business leaders in the network marketing program structure. Since MLM Gateway members already have experience with network marketing, it's far easier to establish a partnership with them.
We encourage you to recommend this website to your downline, so they also recruit new leaders. You then accelerate your network marketing business even faster! Use our simple form to invite your team when you log in.
What MLM Gateway is not?
MLM Gateway is not an ordinary database of e-mail addresses intended to spam other users with offers of MLM programs. Nor do we sell our members' email addresses or phone numbers. Every member may choose to whom he gives his contact information.
What do I get if I sign up?
After successfully signing up, you gain access to the list of network marketing leads. You can choose whoever you want to contact and send them a partnership request. MLM Gateway has members all over the world so it doesn't matter if you are looking for free network marketing leads from the United States, Australia, Germany, or South Africa. You are in the right place.
How much does it cost to sign up with MLM Gateway?
Registration and use of MLM Gateway are free of charge. You needn‘t spend a single penny to start building MLM business with us.
How does MLM Gateway work?
Following successful registration, each member may send a request for a partnership to another member. The request is sent by means of a simple form that reveals neither the recipient's e-mail address nor telephone number. The recipient of the request controls whether they will contact the sender or not. Member privacy is assured.
Only one request may be sent to each member. If the recipient chooses not to respond, the same member cannot contact them again within 12 months.
To learn the best strategy for new leads, read how to get leads for network marketing using MLM Gateway.
Who has access to my data?
Your e-mail address and phone number remain concealed to other members. Your email address is shared only when you send a Partnership Request to other members or accept a Connection Invitation. You need not be afraid of receiving email messages or phone calls from unknown people.
Join here: https://www.mlmgateway.com/?refcode=51057171
Monday, June 8, 2020
Importance of Blogging and 10 Ways of Increasing Targeted Traffic
Photo by Kaboompics .com from Pexels
Have you ever asked yourself how a single person keeps on updating his blog with fresh content regularly without running out of ideas? There are some bloggers that will leave you to wonder how they manage to write content regularly. No one can dispute their prolific writing skills.
For instance, Seth Godin updates his blog regularly with fresh content. When I was first introduced to blogging, I thought I won't be able to write. But with time, I now know that blogging isn't difficult. For the past three years, I have learned a lot about blogging. I have written articles for various blogs and websites. However, I'm yet to learn more about writing so that I become a better prolific writer.
Becoming a blogger is all about learning how to blog. Blogging isn't difficult as some people may tend to think. Below are four most important blogs that will teach you how to blog and how you can become a better blogger.
1.) Blogtyrant.com
2.) Copyblogger.com
3.) Problogger.net/blog
4.) Bloggingtips.com
If you're starting a freelancing writing business, then Freelancefolder.com blog will greatly help you with advice on how to go about your freelancing writing business.
Any person who is computer literate can now create a blog. You don't have to worry about the technical aspects since there are blogging software such as WordPress and Empower Network that have simplified blogging.
Importance of Blogging
1.) Blogging is Interesting: There is something that you really love doing (your passion). Go ahead and create a blog and start blogging about your passion. Blogging will make you to learn more about your passion. You'll be surprised by the attention you'll be receiving from people.
2.) Proper Usage of Free Time: Blogging isn't a waste of time. If it was a waste of time we could not be having so many blogs currently. Instead of you being idle during most of your free time, you should create a blog and start blogging. This will make you not to question yourself on what you should do to keep yourself busy whenever you have free time.
3.) Inspiring Others: Blogging has made it possible for people to encourage one another despite the fact that they have never met each other. People share problems and support one another. For instance, here is a quote I came across that made me realize how blogging has made it possible for a person to get support from people, "I was having problems with depression and anxiety disorder, and it felt like not blogging about it was creating a false history. When I did finally share the problems I was having, I was shocked -not only by the support that was given to me, but also by the incredible amount of people who admitted they struggled with the same thing."- Jenny Lawson
In fact, I encourage more youths to start blogging in order to inspire other youths who are facing various challenges such as starting a business, running a business, advancing career, unemployment, how to overcome substance abuse etc.
4.) Making Money Online: Start blogging to earn some money online if you haven't found your dream job. There are many opportunities online that you can use your blog to make money. You can start blogging for money by being hired as a blogger. You can use your blog to do affiliate marketing or you can use your blog to sell products to people online.
The opportunities to make money online from a blog are just many. It is upon you to make a decision on how you're going to make money online blogging.
5.) Gaining Exposure and Attracting Prospective Employers: Blogging exposes you as an expert in your field. You'll be recognized as an expert when you share informative information on your blog and also on other blogs that allow guest blogging. Some people will seek your advice while there are those who will refer people to read your articles.
Blogging will also expose your talent, creativity, passion and your dedication. "Blogging is a great way to show your talents and interests to prospective employers, while adding an edge to your resume. If you blog consistently it shows your dedication, passions and creativity-all of which are key attributes employers look for in job candidates."- Lauren Conrad
6.) Blogging Improves Your Writing Skills: When you keep on blogging, with time you become a better writer. You'll learn how to express yourself better. Blogging improves your writing skills and also your skills to communicate with people.
7.) Marketing and Building Relationships with Customers: Blogging is important in marketing. A blog is a marketing tool and marketers should use blogs to inform people about the products they're selling. Marketers should blog informative information about the products they're marketing so that people know how such products are going to be useful to them in solving various problems. Blogging builds better relationships between customers and businesses.
Major Challenge in Blogging
The major challenge that many blog owners (bloggers) are facing is inadequate targeted traffic. Without targeted traffic, a blog will never flourish. When you realize that your blog isn't attracting enough targeted traffic, you shouldn't give up.
It is normal for anyone to feel discouraged due to disappointments but giving up isn't a solution. Giving up is creating another problem of having not found a solution that works effectively. The best you can do instead of giving up is to find out how you'll drive targeted traffic to your blog.
So, why is your blog not receiving targeted traffic? Some of the reasons are as follows:
1.) Your blog is yet to be known since it is still new. It requires exposure.
2.) There is no enough content on your blog to attract people and for the search engines to rank your blog.
3.) The content you have published on your blog isn't of high-quality. Publishing mediocre content on your blog could be the reason why it lacks targeted traffic.
4.) The niche of your blog could be the reason for insufficient targeted traffic. If your blog is targeting a niche that is too competitive or the one that people are not interested in, then your blog will not attract any significant amount of targeted traffic.
5.) You haven't started selling a product that solves a particular problem or you could be selling a product that isn't useful.
6.) You haven't optimized your blog in the search engines. You have not used the search engine optimization techniques to optimize your blog.
7.) You haven't done list building and this has led you not to keep in touch with people who visit your blog. They visit your blog never to visit it again since they forget it.
8.) You have not captured people's attention. Your blog doesn't have content that is interesting for people to read. You haven't used headlines that will capture the attention of people. You haven't also posted videos or pictures that capture people's attention. You're not giving giveaways. People love getting things for free!
9.) Your blog contains many spelling and grammar mistakes. People will not want to go on reading a blog that has posts containing many spelling and grammar mistakes.
10.) Another reason for lack of targeted traffic is ignoring the readers and writing for the search engines. Focusing mainly to optimize your blog in the search engines instead of focusing on your readers will eventually make your readers to stop visiting your blog.
Ten Ways of Increasing Traffic
Driving targeted traffic to your blog is a process that should be continuous. Here are ten ways that you can use to drive targeted traffic to your blog.
1.) Update Your Blog Regularly: You should start updating your blog regularly with fresh content that is unique and informative if you haven't been doing that.
2.) Quality Content and Not Quantity Content: Although you should update your blog with fresh content, it doesn't mean that you should update it with any content for the sake of updating it regularly. High-quality content is important in retaining your existing targeted traffic. Posting high-quality content will make people to visit your blog since they know that they're going to benefit a lot.
3.) Gain Exposure for Your Blog: Use internet marketing techniques that will ensure your blog gains exposure. Some of the internet marketing techniques that you can use include social networking sites, search engine optimization ways, viral marketing, pay per click Ads, Google AdWords etc.
4.) Keep in Touch with Your Audience: You have to do list building. Let the people who are visiting your blog to give you their email addresses willingly. You'll later on contact them so that you remind them to visit your blog.
5.) Attract People's Attention: Capture people's attention so that they can keep on visiting your blog. Use headlines that will capture people's attention to read your blog posts. You should also post videos, infographics and include pictures on your blog posts so that they attract people's attention.
6.) Avoid Spelling and Grammar Mistakes: Proofread your articles. Let someone else read your articles before you publish them on your blog. This is to ensure that your articles don't contain spelling and grammar mistakes.
7.) Engage Your Audience: You need to engage your audience. Ask them questions and let them comment on your blog posts. Reply their comments. This way, your audience will know that you appreciate them and value their opinions. Your audience will trust you and they'll keep on visiting your blog and also refer people to visit your blog.
8.) Allow Guest Blogging: You should invite experts to publish content on your blog. When you allow experts in your field of specialization to do guest blogging, your blog will gain good reputation. People will trust it and this makes your blog to be authoritative.
9.) Quality Products: Selling high-quality products will make people to visit your blog. A word of mouth will spread much faster about your blog if you're selling high-quality product that is solving a particular problem that other products haven't been able to resolve.
10.) Buy Traffic: Buying traffic will at least make people to know your blog. There are many websites that specialize in selling traffic.
When we started our first blog seven years ago with my business partner, we made mistakes. We learned from our mistakes and eventually we figured out a blogging income formula that has kept our sales rolling in each month. Now that we discovered a formula to make money online blogging, we are so passionate to teach others to succeed including you. Today, we are giving you our simple formula for making money online, just click the link and tell us where to send you our blogging income formula.
Article Source: http://EzineArticles.com/8065634
Subscribe to:
Comments (Atom)