Checklist for Starting a Data Entry Business: Essential Ingredients for Success
If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a Data Entry business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!
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A Step by Step
Guide to Starting a Small Business
This is a
practical manual in a PDF format, that will walk you step by step through all the
essential phases of starting your Data Entry business. The book is packed with
guides, worksheets and checklists. These strategies are
absolutely crucial to your business' success yet are simple and
easy to apply.
Copy the following link to your browser and save the file to your PC:
https://www.bizmove.com/free-pdf-download/how-to-start-a-business.pdf
How to Write
Compelling Advertising Ads
The most important aspect of any business is selling
the product or service. Without sales, no business can exist for
very long.
All sales begin with some form of advertising. To build
sales, this advertising must be seen or heard by potential
buyers, and cause them to react to the advertising in some way.
The credit for the success, or the blame for the failure of
almost all ads, reverts back to the ad itself.
Generally, the "ad writer" wants the prospect to
do one of the following:
a) Visit the store to see and judge the product for
himself, or immediately write a check and send for the
merchandise being advertised.
b) Phone for an appointment to hear the full sales
presentation, or write for further information which amounts to
the same thing.
The bottom line in any ad is quite simple: To make the
reader buy the product or service. Any ad that causes the reader
to only pause in this thinking, to just admire the product, or
to simply believe what's written about the product - is not
doing its job completely.
The "ad writer" (Small Business Advertising
Copy-writing)
must know exactly what he wants his reader to
do, and any that does not elicit the desired action is an
absolute waste of time and money.
In order to elicit the desired action from the
prospect, all Advertising Copy are written according to a simple
"master formula" which is:
1) Attract the "attention" of your prospect.
2) "Interest" your prospect in the product
3) Cause your prospect to "desire" the product
4) Demand "action" from the prospect
Never forget the basic rule of advertising
copy-writing: If the ad is not read, it won't stimulate any
sale; if it is not seen, it cannot be read; and if it does not
command or grab the attention of the reader, it will not be
seen!
Most successful advertising copywriters know these
fundamentals backwards and forwards. Whether you know them
already or you're just now being exposed to them, your knowledge
and practice of these fundamentals will determine the extent of
your success as an advertising copywriter.
CLASSIFIED ADS Advertising Copy
Classified ads are the ads from which many successful
businesses are started. These small, relatively inexpensive ads,
give the beginner an opportunity to advertise his product or
service without losing his shirt if the ad doesn't pull or the
people don't break his door down with demands for his product.
Classified ads are written according to all the advertising
rules. What is said in a classified ad is the same that's said
in a larger, more elaborate type of ad, except in condensed
form.
To start learning how to write good classified ads,
clip ten classified ads from ten different mail order type
publications - ads that you think are pretty good. Paste each of
these ads onto a separate sheet of paper.
Analyze each of these ads: How has the writer attracted
your attention - what about the ads keeps your interest - are
you stimulated to want to know more about the product being
advertised - and finally, what action must you take? Are all of
these points covered in the ad? How strongly are you "turned on"
by each of these ads?
Rate these ads on a scale of one to ten, with ten being
the best according to the formula I've given you. Now, just for
practice, without clipping the ads, do the same thing with ten
different ads from your favorite local newspaper. In fact, every
ad you see from now on, quickly analyze it, and rate it
somewhere on your scale. If you'll practice this exercise on a
regular basis, you'll soon be able to quickly recognize the
"Power Points" of any ad you see, and know within your own mind
whether an ad is good, bad or otherwise, and what makes it so.
Practice for an hour each day, write the ads you've
rated 8, 9 and 10 exactly as they've been written. This will
give you the "feel" of the fundamentals and style necessary in
writing ads.
Your next project will be to pick out what you consider
to be the ten "worst" ads you can find. Clip these out and paste
them onto a sheet of paper so you can work on them.
Read these ads over a couple of times, and then beside
each of them, write a short comment stating why you think it's
bad: Lost in the crowd, doesn't attract attention - doesn't hold
the reader's interest - nothing special to make the reader want
to own the product - no demand for action.
You probably already know what's coming next, and
that's right. Break out those pencils, erasers and scratch paper
- and start rewriting these ads to include the missing elements.
Each day for the next month, practice writing the ten
best ads for an hour, just the way they were originally written.
Pick out ten of the worst ads, analyze those ads, and then
practice rewriting those until they measure up to doing the job
they were intended to do.
Once you're satisfied that the ads you've rewritten are
perfect, go back into each ad and cross out the words that can
be eliminated without detracting from the ad. Classified ads are
almost always "finalized" in the style of a telegram.
EXAMPLE: I'll arrive at 2 o'clock tomorrow afternoon,
the 15th. Meet me at Sardi's. All my love, Jim.
EDITED FOR SENDING: Arrive 2pm - 15th - Sardi's. Love,
Jim.
CLASSIFIED AD: Save on your food bills! Reduced prices
on every shelf in the store! Stock up now while supplies are
complete! Come on in today, to Jerry's Family Supermarkets!
EDITED FOR PUBLICATION: Save on Food! Everything
bargain priced! Limited Supplies! Hurry! Jerry's Markets!
It takes dedicated and regular practice, but you can do
it. Simply recognize and understand the basic formula - practice
reading and writing the good ones - and rewriting the bad ones
to make them better. Practice, and keep at it, over and over,
every day - until the formula, the idea, and the feel of this
kind of ad writing becomes second nature to you. This is the
ONLY WAY to gain expertise in writing good classified ads.
Prior to opening your Company you must
decide upon the general price Amount you expect to maintain.
Will you appeal to people
buying in the high, medium, or low
budget? Your choice of location, appearance of your institution,
quality of goods handled, and
services to be provided will
all depend on the clients you would like to bring, and so will
your prices.
After establishing this overall price
level, you are ready to price Individual items. Generally, the
price of an item has to cover
the cost of the product, the
other expenses, plus a profit. Thus, you'll have to markup the
thing by a certain amount to cover
costs and earn a profit.
In a business which sells few things, total costs can readily be
allocated to each item and a markup
quickly ascertained. With
many different things, allocating costs and determining markup
might require an accountant. In retail
operations, products
are often marked up by 50 to 100 per cent or more simply to earn
a 5% to 10% gain!
Let us work through a markup example.
Suppose your company sells 1 product, Product A. The supplier
sells Product A to you for
$5.00 each. You and your
accountant decide the costs entailed in selling Merchandise A
are $4.00 per item, and you want a $1 per
item gain. What is
your markup? The sale price is: $5 and $4 and $1 or $10; the
markup consequently is 5. As a percent, it's 100%.
So you
have to markup Product A by 100 percent to produce a 10% gain!
Many small business managers are interested in knowing
what Industry markup norms are for a variety of products.
Wholesalers,
distributors, trade institutions and business
research firms publish a massive assortment of such ratios and
business statistics.
They're useful as recommendations.
Another ratio (along with the markup percent ) important to
small firms is the Gross Margin
Percentage.
The GMP
is comparable to your markup percentage but whereas markup
Identifies the percentage over the price to you of every item
you have to set the selling cost in order to cover all other
costs and earn profits, the GMP indicates the association
between
sales revenues minus the expense of the product,
which is your gross margin, along with your earnings earnings.
Exactly what the
GMP is telling you is your markup bears a
certain relationship to your sales revenues. The markup percent
along with the GMP are
basically the exact same formula, with
the markup referring to individual item pricing and GMP
referring to the product prices
times the amount of items
sold (volume).
Perhaps an example will clarify the
purpose. Your firm sells Product Z. It costs you .70 each and
you decide to sell it for $1
each to cover costs and profit.
Your markup is 43%. Let up say you sold 10,000 Merchandise Z's
Last month hence producing $10,000
in revenues. Your cost to
buy Product Z was $7000; your gross profit margin was $3,000
(revenues minus cost of goods sold). This
is also your gross
markup for your month's volume. Your GMP would be 30 percent.
Both these percentages use the exact same basic
numbers,
differing just in division. Both are utilized to set up a
pricing system. And both are printed and may be used as
guidelines for smaller firms starting out. Often managers decide
what Gross Margin Percentage they will have to earn a profit and
just go to a printed Markup Table to find the percentage markup
which correlates with that margin condition.
While this
discussion of pricing may seem, in certain respects, to Be
directed just to the pricing of retail merchandise it could
be applied to other kinds of companies too. For solutions the
markup must cover administrative and selling costs in addition
to
the immediate cost of doing a specific service. If you're
producing a product, the costs of direct labor, supplies and
materials,
parts purchased from different concerns, special
tools and equipment, plant overhead, administrative and selling
expenditures must
be carefully estimated. To compute a price
per unit needs an estimate of the number of units you intend to
produce. Before your
factory gets too big it would be smart
to consult an accountant in a cost accounting system.
Not all items are marked up by the average markup. Luxurious
articles Will take more, staples . For example, increased sales
volume by a lower-than-average markup on a specific thing -
a"loss leader" - may bring a higher gross profit unless the
price is
lowered too much. Then the consequent increase in
sales won't raise the total gross profit enough to compensate
for the minimal
price.
Sometimes you Might Wish to
sell a particular item or service at a lower Markup in order to
boost store visitors with the
expectation of increasing
earnings of Regularly priced merchandise or creating a high
number of new support contracts.
Competitors' prices will
also govern your prices. You cannot market a Product if your
competition is greatly underselling you.
These and other
reasons May cause you to vary your markup among items and
solutions. There is no magic Formula that will work on
every
product or every service all of the time. However, You should
keep in mind the overall average markup which you want to make
a Gain.
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