A business plan is an important part of starting a business because it will force you to take a look and really think about what you want to do with the business both in the immediate future and a few years down the
road. It is a document you should always refer to and continue to update to ensure your business is on the right track to reaching its goals. Once a goal is reached, you should change it to reflect a new one. By learning how to write a business plan, you'll be a step ahead, because most banks and other sources of business capital want to see one. There are many business plan templates available online to help with writing a business plan.
Your business plan should be written in basic layman's terms, easy to understand, and very thorough. Here's what you need to include in your business plan:
Business Name: First and foremost, you want to include your business name. This should be a clear indication of what your business will be doing and easy for people to remember.
Mission Statement: Offer a mission statement for your business. This will tell potential investors and consumers what your business is about and what you hope to accomplish with your business.
Business Vision: What will your business look like a year from now? Five years from now? 10 years from now? Consider where you want to your business to go in the future because this will help you develop a plan for how to get there.
Goals and Objectives: What do you want your business to accomplish? How will you determine whether or not your goals have been accomplished? The more detail here, the better the plan. Figure out what you want to do and what you will use to measure how you got there. For instance, if you want to sell $100,000 in merchandise—your objective could be to get enough customers to reach your goal.
Any Branding Ideas: Consider anything you've thought about for logos, color schemes and slogans. Noting these ideas here will make it easier for you to remember them and conduct necessary copyright research before you move forward with these designs.
Market Research: Consider your current competition and customer need for your business. Do you have an angle other businesses do not? This will help you determine how likely you will be able to succeed. If there are 75
competing businesses in your area, it may be a good idea to alter the business idea or location of the business.
Financial Plan: Consider the money you have on hand and where it needs to be spent. Determine the money you'll need to get into business, the amount of money you'll need to stay in business should your projections not be correct, and how much profit you could potentially make.
Plan of Action: Plan what you're going to do for advertising, marketing, and even business failure. The more you think about and determine how you're going to handle in the beginning, the better off your business will be when it's up and running.
Showing posts with label Business - Economy. Show all posts
Showing posts with label Business - Economy. Show all posts
Wednesday, 22 December 2010
How to Turn Your Business Card into Your Ultimate Marketing Tool
Your business card is a pint-sized marketing tool that packs a big punch. The first impression that a prospective client will have of your company will often be through a business card. Handing out business cards is a
fast, easy, and personal way to promote your company. Maximize the effectiveness of your business card with these seven tips:
1. Make sure your business card is worth keeping. Low quality and unprofessional cards are the first to be trashed. Pull out your business card and ensure that it conforms to the following standards. First, a business card must 3.5" by 2." Anything larger will not fit in wallets or business card holders. The card itself must give the impression of professionalism. A card that is flimsy, has perforated edges, is boring, or has ink that smudges will convey an unprofessional image. A good business card is made of high quality paper, includes an image of the company logo, and is printed in an easy to read font. Finally, a business card must include every means possible to contact you, including your phone, email, fax, voice mail, and website.
2. Give your card away with a two to three sentence "commercial." As you hand a potential client your card, introduce yourself and your company. Explain what your company does and how it can benefit the client. An effective "commercial" will make someone want to keep your card handy.
3. Never give away just one card. Always give a potential client at least two cards, preferably more. Ask them to pass on your card to anyone they feel may be in need of your service or product. In return, ask for extras of their card to hand out. They'll be more likely to promote you if they know that you will be returning the favor.
4. Attach your card to everything. Staple it to flyers and brochures that your company distributes. Include an extra copy in correspondence. Hand out your card with other marketing items with your contact information printed on them such as: pens, notepads, or mouse pads. Your best or most sought-after clients should have dozens of your cards around the office.
5. Create an electronic version of your business card. Make the electronic version of your card the signature for your email account and your e-card will automatically be attached to the end of every email message you
write.
6. Magnetize your card. If your target audience includes homeowners or renters, design a magnet that they will want to put on their fridge. Include the most important of your contact information. Increase the likelihood of your card's permanent attachment to a fridge by adding other important information such as a mini-calendar or a kitchen weights and measurement chart. A photo frame magnet with your contact information that fits around a school sized picture will also be more likely to kept rather than tossed.
7. Give out your business card again after the service is complete or the product has been delivered. Ask your clients to recommend your company to someone else they know that may need the same service. The most powerful incentive for a client to choose a company is the recommendation of a satisfied customer. Once again, remember to give more than one card.By implementing these seven tips, you will create a huge impact through your littlest marketing tool.
fast, easy, and personal way to promote your company. Maximize the effectiveness of your business card with these seven tips:
1. Make sure your business card is worth keeping. Low quality and unprofessional cards are the first to be trashed. Pull out your business card and ensure that it conforms to the following standards. First, a business card must 3.5" by 2." Anything larger will not fit in wallets or business card holders. The card itself must give the impression of professionalism. A card that is flimsy, has perforated edges, is boring, or has ink that smudges will convey an unprofessional image. A good business card is made of high quality paper, includes an image of the company logo, and is printed in an easy to read font. Finally, a business card must include every means possible to contact you, including your phone, email, fax, voice mail, and website.
2. Give your card away with a two to three sentence "commercial." As you hand a potential client your card, introduce yourself and your company. Explain what your company does and how it can benefit the client. An effective "commercial" will make someone want to keep your card handy.
3. Never give away just one card. Always give a potential client at least two cards, preferably more. Ask them to pass on your card to anyone they feel may be in need of your service or product. In return, ask for extras of their card to hand out. They'll be more likely to promote you if they know that you will be returning the favor.
4. Attach your card to everything. Staple it to flyers and brochures that your company distributes. Include an extra copy in correspondence. Hand out your card with other marketing items with your contact information printed on them such as: pens, notepads, or mouse pads. Your best or most sought-after clients should have dozens of your cards around the office.
5. Create an electronic version of your business card. Make the electronic version of your card the signature for your email account and your e-card will automatically be attached to the end of every email message you
write.
6. Magnetize your card. If your target audience includes homeowners or renters, design a magnet that they will want to put on their fridge. Include the most important of your contact information. Increase the likelihood of your card's permanent attachment to a fridge by adding other important information such as a mini-calendar or a kitchen weights and measurement chart. A photo frame magnet with your contact information that fits around a school sized picture will also be more likely to kept rather than tossed.
7. Give out your business card again after the service is complete or the product has been delivered. Ask your clients to recommend your company to someone else they know that may need the same service. The most powerful incentive for a client to choose a company is the recommendation of a satisfied customer. Once again, remember to give more than one card.By implementing these seven tips, you will create a huge impact through your littlest marketing tool.
10 Tips to Making Your Business Card a Great Marketing Tool
Are you having problems with your current business card that fails to impress potential clients? Or maybe you are not getting the increased business that your card is supposed to provide for you. Then you should improve
your business card to make it into a great marketing tool.
The business card is more than just a piece of paper to pass our names & numbers. It represents an opportunity to become an impressive marketing tool. Our business cards should be unique & distinctive so as to be a memorable conversation piece for consumers.
Below are 10 tips to making your business cards function as a 'fresh' advertising billboard for your businesses.
* Ensure basic information on your card is complete as in your name, profession, office address, contact numbers & fax numbers. Providing your email address & your web site's address will give it more appeal to consumers.
* Offer special discounts & promotions on your business card.
* Place your business card in all your correspondence.
* Make your business card an appointment card to achieve dual functionality.
* Give your business card to everyone you meet be it store clerks, gas station attendants, toll booth operators and etc to get maximum exposure of your business.
* Make your business card a mini billboard to advertise your service or business product.
* Your business card can also be a fridge magnet. Spend a little more money on it and you have a better chance of having your business card on a potential client's fridge instead of simply stacked away with other cards.
* A professionally designed logo will reflect the true identity of your business and also make your business card more identifiable even at a single glance.
* Your business or services unique selling proposition (USP) should be highlighted on the back of your card. Some good examples of USP are:
1. Head & Shoulders: "You get rid of dandruff",
2. Olay: "You get younger-looking skin", &
3. Red Bull: "You get stimulation of body and mind".
* Shape your card relative to your business so your card can become a conversation piece. Limit the uniqueness so your card will not be difficult to fit into places where business cards are stored or else it will risk a chance of getting misplaced thus probably forgotten.
Our business cards do not have to lay dormant in somebody's wallet or drawer. Instead, it can play an active & powerful role to promote you, your business, & your services. Create your business card & follow the tips mentioned above to let it generate for you increased profits to your business. Your business card is your smallest, efficient, & most effective advertising billboard! - http://abassteroffice.blogspot.com
your business card to make it into a great marketing tool.
The business card is more than just a piece of paper to pass our names & numbers. It represents an opportunity to become an impressive marketing tool. Our business cards should be unique & distinctive so as to be a memorable conversation piece for consumers.
Below are 10 tips to making your business cards function as a 'fresh' advertising billboard for your businesses.
* Ensure basic information on your card is complete as in your name, profession, office address, contact numbers & fax numbers. Providing your email address & your web site's address will give it more appeal to consumers.
* Offer special discounts & promotions on your business card.
* Place your business card in all your correspondence.
* Make your business card an appointment card to achieve dual functionality.
* Give your business card to everyone you meet be it store clerks, gas station attendants, toll booth operators and etc to get maximum exposure of your business.
* Make your business card a mini billboard to advertise your service or business product.
* Your business card can also be a fridge magnet. Spend a little more money on it and you have a better chance of having your business card on a potential client's fridge instead of simply stacked away with other cards.
* A professionally designed logo will reflect the true identity of your business and also make your business card more identifiable even at a single glance.
* Your business or services unique selling proposition (USP) should be highlighted on the back of your card. Some good examples of USP are:
1. Head & Shoulders: "You get rid of dandruff",
2. Olay: "You get younger-looking skin", &
3. Red Bull: "You get stimulation of body and mind".
* Shape your card relative to your business so your card can become a conversation piece. Limit the uniqueness so your card will not be difficult to fit into places where business cards are stored or else it will risk a chance of getting misplaced thus probably forgotten.
Our business cards do not have to lay dormant in somebody's wallet or drawer. Instead, it can play an active & powerful role to promote you, your business, & your services. Create your business card & follow the tips mentioned above to let it generate for you increased profits to your business. Your business card is your smallest, efficient, & most effective advertising billboard! - http://abassteroffice.blogspot.com
10 Tips on How to Create a Great Business Card
It is quite simple to create a great business card. There a variety of different computer programs available that allow people to make business cards. Here are ten tips on how to create a great business card.
1. Use a catchy sentence that people will remember. You want your business name and what you do to remembered. You want people to remember your business card so make sure it has a catchy sentence.
2. Use a picture that matches what your company is about. You want a picture on your business card that people will remember. You can make something that is easy to remember. For example, someone who has a teddy bear gift basket business can use a picture of a teddy bear in order to have people remember the company.
3. Make sure the text is large enough to read. You want the text and pictures be large enough to see. You want the text to be easy to read. Don't use fancy text on the business card. Keep the text style simple so that people can clearly read the text without trouble.
4. If you are printing the business cards on a regular print instead of being professionally printed then make sure to get some business card paper. You can get luxury business card paper at any office supply store. They have a variety of luxury paper designed for business cards.
5. Make sure to include all of your contact information on the business card such as your telephone number and mailing address. If your company has a website then make sure to remember to put the website address on the business card. If you have a e-mail address then make sure to list the e-mail address on the business too.
6. Put your job title on the business card too. Make sure to let people know by your business card what it is that you do and how to get in contact with you. Business cards are a great for advertising.
7. Double check your business card for any spelling errors along with any other errors. This is important so that your business card will look professional. Have a friend look at the business card before you have it printed. Other people can point out mistakes that we often don't catch.
8. Don't clutter your business card. You don't want your business card to be overloaded with information. You want to keep your business card simple and straight to the point about what services or products that
your company can provide. You can have a list of what services or product that your company can do, but just keep it simple.
9. Make sure that your business isn't boring. People enjoy business cards that are interesting and memorable. You want your future clients to be impressed with your business card enough to want your service or product in the future.
10. Make sure that your business is full color. You want your business card to catch attention and color catches attention. Make sure that your business card has light toned colors so it isn't overwhelming to the reader.
1. Use a catchy sentence that people will remember. You want your business name and what you do to remembered. You want people to remember your business card so make sure it has a catchy sentence.
2. Use a picture that matches what your company is about. You want a picture on your business card that people will remember. You can make something that is easy to remember. For example, someone who has a teddy bear gift basket business can use a picture of a teddy bear in order to have people remember the company.
3. Make sure the text is large enough to read. You want the text and pictures be large enough to see. You want the text to be easy to read. Don't use fancy text on the business card. Keep the text style simple so that people can clearly read the text without trouble.
4. If you are printing the business cards on a regular print instead of being professionally printed then make sure to get some business card paper. You can get luxury business card paper at any office supply store. They have a variety of luxury paper designed for business cards.
5. Make sure to include all of your contact information on the business card such as your telephone number and mailing address. If your company has a website then make sure to remember to put the website address on the business card. If you have a e-mail address then make sure to list the e-mail address on the business too.
6. Put your job title on the business card too. Make sure to let people know by your business card what it is that you do and how to get in contact with you. Business cards are a great for advertising.
7. Double check your business card for any spelling errors along with any other errors. This is important so that your business card will look professional. Have a friend look at the business card before you have it printed. Other people can point out mistakes that we often don't catch.
8. Don't clutter your business card. You don't want your business card to be overloaded with information. You want to keep your business card simple and straight to the point about what services or products that
your company can provide. You can have a list of what services or product that your company can do, but just keep it simple.
9. Make sure that your business isn't boring. People enjoy business cards that are interesting and memorable. You want your future clients to be impressed with your business card enough to want your service or product in the future.
10. Make sure that your business is full color. You want your business card to catch attention and color catches attention. Make sure that your business card has light toned colors so it isn't overwhelming to the reader.
How to Make Business Cards for Free
Business cards are a great way to promote yourself and/or your company that you own or work for. Part of running a profitable business includes keeping the overhead costs down while getting your name and company name
out to prospective clients. Knowing how to make business cards for free is an economical and easy option.
You can very easily make your own business cards for free by checking out the websites highlighted below. Choose your favorite business card design, add the details and you will have cost effective business cards that are representative of you and cost virtually nothing except for the ink and paper.
Business Card Land
Here you will find a website where you can make business cards for free and there are many creative designs offered. Examples of the printable business card choices are: Modern Sparkle, Long Grass, Floral One, Batik, Simple Sans, Simple Serif, Geo Corners and Eclipse. The business card maker is flash based so making your own business cards can be done easily on Mac and PC.
Print Free
When learning how to make business cards, it is often wise to choose a simple, clean design. The site offers options to make business cards that are very simple but efficient enough to get your information and company information out to the prospective client. Making your own business cards on the website include design options such as printing with lines or without lines and the color options are: black, red, green, blue and mixed colors. This website also has a lot of other make your own business related items such as calendars, office forms and printable signs.
Free Business Card Templates
Here you will find a website that offers a variety of make your own business card styles in categories such as: accounting, antique, beauty and cosmetic, bakery, car and accessories, computer and internet, coffee and tea, catering, electric and electronic, florist, hardware, motorcycle, optical and eyewear, pets and accessories, real estate, stationary and office equipment and travel and leisure. Making business cards is easy on this site because within these categories, the amount of choices is substantial.
Free Printable Business Cards
Learning how to make business cards for free is incredibly easy when you have 230 business cards that you can download and print yourself. The business cards designs are tremendous and the site is very easy to navigate.
Some examples of the business cards that you can make are: personal business cards, feminine business cards, photo business cards, funny business cards, nature business cards, abstract design business cards plus many more business card designs.
Apollos Templates
This site has wonderful make your own business card choices with many options to pick from such as: ability to add your own logo, adding custom text to the business card, changing color of title, change color of body text and replicate changes to the entire sheet. Although the website has many options to choose from to make your business card personalized to your own style, the site is easy to navigate and options are easy to understand.
Giving yourself the opportunity to make business cards for free is a wise choice economically for a business owner, plus business cards are a must have to carry with you in the event that a business opportunity arises.
Sources:
www.freeprintablebusinesscards.net
www.printfree.com
www.businesscardland.com
www.free-business-card-templates.com
www.apollostemplates.com
out to prospective clients. Knowing how to make business cards for free is an economical and easy option.
You can very easily make your own business cards for free by checking out the websites highlighted below. Choose your favorite business card design, add the details and you will have cost effective business cards that are representative of you and cost virtually nothing except for the ink and paper.
Business Card Land
Here you will find a website where you can make business cards for free and there are many creative designs offered. Examples of the printable business card choices are: Modern Sparkle, Long Grass, Floral One, Batik, Simple Sans, Simple Serif, Geo Corners and Eclipse. The business card maker is flash based so making your own business cards can be done easily on Mac and PC.
Print Free
When learning how to make business cards, it is often wise to choose a simple, clean design. The site offers options to make business cards that are very simple but efficient enough to get your information and company information out to the prospective client. Making your own business cards on the website include design options such as printing with lines or without lines and the color options are: black, red, green, blue and mixed colors. This website also has a lot of other make your own business related items such as calendars, office forms and printable signs.
Free Business Card Templates
Here you will find a website that offers a variety of make your own business card styles in categories such as: accounting, antique, beauty and cosmetic, bakery, car and accessories, computer and internet, coffee and tea, catering, electric and electronic, florist, hardware, motorcycle, optical and eyewear, pets and accessories, real estate, stationary and office equipment and travel and leisure. Making business cards is easy on this site because within these categories, the amount of choices is substantial.
Free Printable Business Cards
Learning how to make business cards for free is incredibly easy when you have 230 business cards that you can download and print yourself. The business cards designs are tremendous and the site is very easy to navigate.
Some examples of the business cards that you can make are: personal business cards, feminine business cards, photo business cards, funny business cards, nature business cards, abstract design business cards plus many more business card designs.
Apollos Templates
This site has wonderful make your own business card choices with many options to pick from such as: ability to add your own logo, adding custom text to the business card, changing color of title, change color of body text and replicate changes to the entire sheet. Although the website has many options to choose from to make your business card personalized to your own style, the site is easy to navigate and options are easy to understand.
Giving yourself the opportunity to make business cards for free is a wise choice economically for a business owner, plus business cards are a must have to carry with you in the event that a business opportunity arises.
Sources:
www.freeprintablebusinesscards.net
www.printfree.com
www.businesscardland.com
www.free-business-card-templates.com
www.apollostemplates.com
Make Business Cards on Your Computer
Make your own business cards with an existing logo
I've made business cards about every way you can except scribbling my number on a piece of paper! Actually, I've done that too, but it wasn't business. One of the first business cards I made for myself was on Microsoft Publisher. They have some nice templates for business cards, and I even liked one of their logos. On Publisher you can just open the template, type in the information where indicated, replace visuals, put your cursor on corners of things and pull them out to make them bigger or push them back to make them smaller. You can change the colors and then change them back again if you want. They have color schemes you can choose from with a whole palette of coordinating colors, or you can create your own. It really is fun to play around and see what you can come up with. (And I'm just going to dangle that preposition"with," so there.)
Print cards on your home printer
I kept a supply of the Avery business card perforated sheets that Publisher works with, and whenever I ran out of cards I would just print out a sheet and pull the cards apart. I found Avery had a slightly more expensive business card product that separated into cleaner edges. I bought them in ivory or cream rather than stark white, so the cards would look more "Printed." Well,I outgrew those when I started seeing the logo I was using showing up everywhere, on yard signs, powerpoint presentations and other stuff.
Design your own logo for your business cards
For my next business cards, I designed my own logo, just by using a certain type font, and putting two of the letters in a different color from the others. I added bars of color behind the company name, and inserted a background I found somewhere, recolorized and distorted a little. Suddenly, I had an all new original logo and business card. I created this one on Adobe Illustrator, with a little help from Adobe Photoshop. But, except for colorizing the background in Photoshop, and squeezing the letters of the text together in Illustrator, it could have been designed in Microsoft Publisher too.
Send your business cards to an online printer
This time though, I decided to graduate to an online printer instead of printing the cards myself. I was always getting emails from VistaPrint offering incredibly low rates, and sometimes even free business cards. So they walked me through uploading my design, nd I spent a little extra on a glossy finish. Woohoo, I thought they looked great. (see pictures.)
Business cards for Imaginary businesses
But back to Publisher. Just for fun, I made some imaginary business cards on Publisher and uploaded them here to show how easy it is. I've also done brochures with Publisher. It's when I try to have them professionally printed that I run into problems with Publisher. The color settings were not right for professional printing, and the type can't be manipulated very well. (Of course new versions of Publisher may have all the problems ironed out. I was using the 2002 version.)
Make business cards in Adobe Illustrator
Since then, in my business, I've mostly done business cards in Illustrator, and had them printed online at VistaPrint and saved my clients some money. I've had the matching folders and and brochures printed on VistaPrint, and other online printers too. I've also paid professional designers to design logos and business cards for some "high image" clients. It just depends on the budget they have, and the business they're in. Sometimes it's something simple I can do myself, sometimes it takes a "real" designer, sometimes I can find a design I really like online. You can find lots of gorgeous designs for a realtor, for example, but not for a vending machine company.
Use business card templates online
A new way to make professional looking cards in a hurry is to use predesigned cards on Vista Print. They have photos to choose from, and color schemes. A friend who was starting her own home staging business needed cards fast. We found a design on VistaPrint's site that we loved, and I adapted it for her, changing the fonts, etc. The result is very professional and expensive looking. To think it was all done on the computer, ordered on the computer, paid for on the computer, and the cards were delivered in a few days is absolutely amazing.
Business cards back in the day
Years ago when I started in advertising, getting new "corporate identity" materials was a very big deal for clients. You had meetings to discuss mission and "feel", you hired a designer to create a logo, then a layout artist came up with the layout for each piece: the business card, the letterhead, the presentation folders, the brochures, etc. Some designs required original photography which was very expensive and time consuming. Then we would send the text out to a type house and wait for the type to be set and come back. Then a paste-up artist would put it all together according to the layout: the logo, the picture, the text. Off it would go to the printer, and then we would wait for the proof to come back. If there were mistakes, then we would have to wait for a corrected proof. Finally, when everything was signed off on, the proof would go back to the printer and we would wait for the finished product. That's why nobody ever wanted to change their business cards, much less the logo on their trucks. The time line could be as much as two months.
Now that everything is digital, you can change it all in a week on your computer. Sometimes in 3 days!
I'm about ready to redesign my logo again. But what about the 1000 blue business cards I have left? Guess I could use them to wallpaper the office.
It won't be hard to tell which business cards here are for imaginary businesses. Leave me a comment and tell me which ones you think they are.
If you want to read more from this author, click on my picture and visit my titles.
I've made business cards about every way you can except scribbling my number on a piece of paper! Actually, I've done that too, but it wasn't business. One of the first business cards I made for myself was on Microsoft Publisher. They have some nice templates for business cards, and I even liked one of their logos. On Publisher you can just open the template, type in the information where indicated, replace visuals, put your cursor on corners of things and pull them out to make them bigger or push them back to make them smaller. You can change the colors and then change them back again if you want. They have color schemes you can choose from with a whole palette of coordinating colors, or you can create your own. It really is fun to play around and see what you can come up with. (And I'm just going to dangle that preposition"with," so there.)
Print cards on your home printer
I kept a supply of the Avery business card perforated sheets that Publisher works with, and whenever I ran out of cards I would just print out a sheet and pull the cards apart. I found Avery had a slightly more expensive business card product that separated into cleaner edges. I bought them in ivory or cream rather than stark white, so the cards would look more "Printed." Well,I outgrew those when I started seeing the logo I was using showing up everywhere, on yard signs, powerpoint presentations and other stuff.
Design your own logo for your business cards
For my next business cards, I designed my own logo, just by using a certain type font, and putting two of the letters in a different color from the others. I added bars of color behind the company name, and inserted a background I found somewhere, recolorized and distorted a little. Suddenly, I had an all new original logo and business card. I created this one on Adobe Illustrator, with a little help from Adobe Photoshop. But, except for colorizing the background in Photoshop, and squeezing the letters of the text together in Illustrator, it could have been designed in Microsoft Publisher too.
Send your business cards to an online printer
This time though, I decided to graduate to an online printer instead of printing the cards myself. I was always getting emails from VistaPrint offering incredibly low rates, and sometimes even free business cards. So they walked me through uploading my design, nd I spent a little extra on a glossy finish. Woohoo, I thought they looked great. (see pictures.)
Business cards for Imaginary businesses
But back to Publisher. Just for fun, I made some imaginary business cards on Publisher and uploaded them here to show how easy it is. I've also done brochures with Publisher. It's when I try to have them professionally printed that I run into problems with Publisher. The color settings were not right for professional printing, and the type can't be manipulated very well. (Of course new versions of Publisher may have all the problems ironed out. I was using the 2002 version.)
Make business cards in Adobe Illustrator
Since then, in my business, I've mostly done business cards in Illustrator, and had them printed online at VistaPrint and saved my clients some money. I've had the matching folders and and brochures printed on VistaPrint, and other online printers too. I've also paid professional designers to design logos and business cards for some "high image" clients. It just depends on the budget they have, and the business they're in. Sometimes it's something simple I can do myself, sometimes it takes a "real" designer, sometimes I can find a design I really like online. You can find lots of gorgeous designs for a realtor, for example, but not for a vending machine company.
Use business card templates online
A new way to make professional looking cards in a hurry is to use predesigned cards on Vista Print. They have photos to choose from, and color schemes. A friend who was starting her own home staging business needed cards fast. We found a design on VistaPrint's site that we loved, and I adapted it for her, changing the fonts, etc. The result is very professional and expensive looking. To think it was all done on the computer, ordered on the computer, paid for on the computer, and the cards were delivered in a few days is absolutely amazing.
Business cards back in the day
Years ago when I started in advertising, getting new "corporate identity" materials was a very big deal for clients. You had meetings to discuss mission and "feel", you hired a designer to create a logo, then a layout artist came up with the layout for each piece: the business card, the letterhead, the presentation folders, the brochures, etc. Some designs required original photography which was very expensive and time consuming. Then we would send the text out to a type house and wait for the type to be set and come back. Then a paste-up artist would put it all together according to the layout: the logo, the picture, the text. Off it would go to the printer, and then we would wait for the proof to come back. If there were mistakes, then we would have to wait for a corrected proof. Finally, when everything was signed off on, the proof would go back to the printer and we would wait for the finished product. That's why nobody ever wanted to change their business cards, much less the logo on their trucks. The time line could be as much as two months.
Now that everything is digital, you can change it all in a week on your computer. Sometimes in 3 days!
I'm about ready to redesign my logo again. But what about the 1000 blue business cards I have left? Guess I could use them to wallpaper the office.
It won't be hard to tell which business cards here are for imaginary businesses. Leave me a comment and tell me which ones you think they are.
If you want to read more from this author, click on my picture and visit my titles.
Business Card Guide
I read once a long time ago that all you really need to get started in business is a good idea and a great business card, and I've found that's pretty much still true today.
But not all business cards are created equal. A bad business card is more of a liability than an asset, but a great business card is worth ten times what you pay for
it.
Wondering if your business card is an asset -- or a liability? Read on for a checklist of the elements of a great business card.
A great business card:
1. Has your contact information. Sounds basic enough, but some folks actually forget to include their NAMES on their business cards! Your name, your business name, phone number, email address, web URL, and address (either physical or mailing) are all necessary. Anything less diminishes your credibility.
2. Has your core marketing message (not your tag line). A tag line is a positioning statement (such as "Have it your way!") that doesn't necessarily tell what you do, but positions you against your competitors. Your marketing message is probably very close to your elevator speech, and describes the outcome of your work as well as your ideal client (what you do and for whom).
3. Is readable. Print that is too small means your card is unreadable. But small print isn't the only issue; I've seen "arty" business cards that make no sense in terms of layout and copy, so unless you ARE Pablo Picasso, make your card easy to read and not a visual challenge.
4. Looks professional, not like a craft project. For example, unless there is a legitimate reason to hand-letter your business cards (such as you are ten years old, or your business is all about hand-lettering) or do anything else that is "crafty," don't. Not only is it probably a waste of your time, it looks both juvenile and terminally unprofessional.
5. Is visually arresting, although consistent with your overall design concept. Photos are great on business cards, because they are visually arresting, help people recognize you, and because your face (in a photo) is
an implied guarantee, especially for big-ticket items (now you know why most real estate agents have their photos on their business cards).
6. Is the right size. Anything that doesn't fit into a standard card holder is the wrong size. It can be a little short, or a little thick, but never too wide or too tall.
7. Uses both the front and back. Have you ever noticed that when we get a card or a letter, the first thing we do is look at the back? I guess we all want to see what's behind Door #2. Take advantage of that behavior by including more information on the back of your card, such as a Top 10 list or a special offer.
8. Has a secondary use. You card can invite, inform, inspire, or amuse if it includes a special offer, an invitation, an appointment confirmation, tips, calendar, inspirational quote, or Top 10 list.
9. Is given away -- over and over again! Please don't be stingy with your business cards. While you should not force your cards on people who don't want them, you do not need to "qualify" each recipient of your business card. Remember: Just because someone isn't a prospect now doesn't mean that they might not pass on your card to someone who is a good prospect for you.
10. Doubles as a nametag at networking events. Just slip it into one of those plastic holders and clip it on to your lapel for an instant nametag. Not only will it be a great conversation starter, but you'll find people will remember you better.
But not all business cards are created equal. A bad business card is more of a liability than an asset, but a great business card is worth ten times what you pay for
it.
Wondering if your business card is an asset -- or a liability? Read on for a checklist of the elements of a great business card.
A great business card:
1. Has your contact information. Sounds basic enough, but some folks actually forget to include their NAMES on their business cards! Your name, your business name, phone number, email address, web URL, and address (either physical or mailing) are all necessary. Anything less diminishes your credibility.
2. Has your core marketing message (not your tag line). A tag line is a positioning statement (such as "Have it your way!") that doesn't necessarily tell what you do, but positions you against your competitors. Your marketing message is probably very close to your elevator speech, and describes the outcome of your work as well as your ideal client (what you do and for whom).
3. Is readable. Print that is too small means your card is unreadable. But small print isn't the only issue; I've seen "arty" business cards that make no sense in terms of layout and copy, so unless you ARE Pablo Picasso, make your card easy to read and not a visual challenge.
4. Looks professional, not like a craft project. For example, unless there is a legitimate reason to hand-letter your business cards (such as you are ten years old, or your business is all about hand-lettering) or do anything else that is "crafty," don't. Not only is it probably a waste of your time, it looks both juvenile and terminally unprofessional.
5. Is visually arresting, although consistent with your overall design concept. Photos are great on business cards, because they are visually arresting, help people recognize you, and because your face (in a photo) is
an implied guarantee, especially for big-ticket items (now you know why most real estate agents have their photos on their business cards).
6. Is the right size. Anything that doesn't fit into a standard card holder is the wrong size. It can be a little short, or a little thick, but never too wide or too tall.
7. Uses both the front and back. Have you ever noticed that when we get a card or a letter, the first thing we do is look at the back? I guess we all want to see what's behind Door #2. Take advantage of that behavior by including more information on the back of your card, such as a Top 10 list or a special offer.
8. Has a secondary use. You card can invite, inform, inspire, or amuse if it includes a special offer, an invitation, an appointment confirmation, tips, calendar, inspirational quote, or Top 10 list.
9. Is given away -- over and over again! Please don't be stingy with your business cards. While you should not force your cards on people who don't want them, you do not need to "qualify" each recipient of your business card. Remember: Just because someone isn't a prospect now doesn't mean that they might not pass on your card to someone who is a good prospect for you.
10. Doubles as a nametag at networking events. Just slip it into one of those plastic holders and clip it on to your lapel for an instant nametag. Not only will it be a great conversation starter, but you'll find people will remember you better.
Craft for Profit: The Power of Promo Items
Regardless of the type of business you're in, the major hurdle you have to leap is the memory one. You have to find a way of keeping your name in the mind of customers and potential customers, without actually being
in their face.
In the corporate world, there's the whole mini-calender, printed pen, bumper-sticker route. But we're crafters. We want our give-aways to be just as pleasing and personal as the crafts we sell.
Basically, this means preparing some quality promo items that tie in - tightly - with the products you make.
The Basics of a Promo Item
There are a few things that every single promo item must have or do, and they're really easy to remember:
1. Contain your phone number or website URL.
2. Contain your name or business name.
3. Look personal and match your product theme.
4. Cost very little and be super quick to make.
Consider these the four laws of the promo item if you like. There are dozens of ways of incorporating those laws into the item itself.
Promo Item Ideas
Since promo items are something we're going to literally give away, they can't eat into our crafting profits. The second they do that, they've become something much more than a promo item; they're akin to gifting.
In its basic form, the promo item should seem like a gift to the recipient. It should be useful or so pleasing that your customer can't help but smile when they see the little "bonus". You should be able to make a batch of the items (we'll call a batch a full dozen for this article) in under an hour. And you shouldn't have to worry about how many pennies you've thrown into the materials you've used, either.
With those keys in mind, the sky's the limit in what you can do. You'll want to really think about the ideas you like best, and consider ways of using them so that they incorporate your particular craft. Also pay attention to what other crafters are giving as promo items. When you find something that you just ooooh over, you know that you've got inspiration.
Business Cards - The basic business card contains all the information we could possibly need to fulfill our promo item laws. On its own, though, a business card is pretty ... well, corporate. Think about ways that you
can spruce the card up with your crafty creativity, though. If you sell crochet items, consider making a small little border for the card or laminate the card with a crochet motif as decoration. Pattern writers could print a short, easy pattern on the back of their business card. Make dolls or stuffed animals? Why not try printing a sheet of business cards on printable fabric, and using the card as a "patch" on a small doll's clothes?
Sachets - Whether you sew, crochet, or knit, you can create a sachet in no time at all. Try making a simple envelope or pocket sachet and sticking a piece of felt inside that contains a drop or two of essential oil. These will then softly scent the items you're sending, and you can include a little card attached to the sachet that has your business details as well as "refill instructions". The chances of that card getting thrown away are pretty low because it has instructions on it.
Useful Tie-Ins - These kinds of items are as endless and varied as the types of crafts we do, but the basic idea is that the promo item itself supports whatever it is that you sell. Many crochet and knit pattern writers whip up a bunch of stitch markers that can be given away with the patterns they sell. Someone who designs clothing for kids could include belt-loop charms or if they design for babies, a pacifier keeper. A woman I know who sells roving (the material that yarn is spun from) made a killing by letting it be known that she included handcrafted drop-spindles with her orders. The spindles didn't cost her much time or money to make, but added tons of value to the people purchasing her wares.
How to Use Promo Items
It's all fine and good to have a bunch of neat little extras to give away, but what do you actually do with them to prevent them gathering dust on a shelf?
There are numerous ways to use your promo items. If you are selling at a craft fair, try keeping a small basket of your selected promo items out front. Invite browsers and customers alike to go ahead and grab one. Even if they're not buying today, that little item might keep you in mind long enough to draw them back to your products later on.
Another, more obvious way is to include promo items with your sold products. Whether you ship or sell in person, the addition of the bonus can really make a customer's day. It says "Thank you!" in a way that words alone can't touch.
When you offer items that are useful, like the drop spindles, show off how useful they are. This will only work when you sell in person at a shop or a craft fair, but it makes a huge impact when you use it. Instead of
kicking back wondering how long it will be before the next customer comes along, get out in front and draw a few eyes by showing what can be done with your craft. The demonstration will bring curious lookers who will turn into customers - many of whom wouldn't have considered visiting your booth until they saw you showing off your work.
Basically, try to make the giving of a promo item feel as personal as the item itself. It's that caring touch to our crafts that help us sell them in the first place, and the extra thought of a bonus really drives the "I care" bit home.
in their face.
In the corporate world, there's the whole mini-calender, printed pen, bumper-sticker route. But we're crafters. We want our give-aways to be just as pleasing and personal as the crafts we sell.
Basically, this means preparing some quality promo items that tie in - tightly - with the products you make.
The Basics of a Promo Item
There are a few things that every single promo item must have or do, and they're really easy to remember:
1. Contain your phone number or website URL.
2. Contain your name or business name.
3. Look personal and match your product theme.
4. Cost very little and be super quick to make.
Consider these the four laws of the promo item if you like. There are dozens of ways of incorporating those laws into the item itself.
Promo Item Ideas
Since promo items are something we're going to literally give away, they can't eat into our crafting profits. The second they do that, they've become something much more than a promo item; they're akin to gifting.
In its basic form, the promo item should seem like a gift to the recipient. It should be useful or so pleasing that your customer can't help but smile when they see the little "bonus". You should be able to make a batch of the items (we'll call a batch a full dozen for this article) in under an hour. And you shouldn't have to worry about how many pennies you've thrown into the materials you've used, either.
With those keys in mind, the sky's the limit in what you can do. You'll want to really think about the ideas you like best, and consider ways of using them so that they incorporate your particular craft. Also pay attention to what other crafters are giving as promo items. When you find something that you just ooooh over, you know that you've got inspiration.
Business Cards - The basic business card contains all the information we could possibly need to fulfill our promo item laws. On its own, though, a business card is pretty ... well, corporate. Think about ways that you
can spruce the card up with your crafty creativity, though. If you sell crochet items, consider making a small little border for the card or laminate the card with a crochet motif as decoration. Pattern writers could print a short, easy pattern on the back of their business card. Make dolls or stuffed animals? Why not try printing a sheet of business cards on printable fabric, and using the card as a "patch" on a small doll's clothes?
Sachets - Whether you sew, crochet, or knit, you can create a sachet in no time at all. Try making a simple envelope or pocket sachet and sticking a piece of felt inside that contains a drop or two of essential oil. These will then softly scent the items you're sending, and you can include a little card attached to the sachet that has your business details as well as "refill instructions". The chances of that card getting thrown away are pretty low because it has instructions on it.
Useful Tie-Ins - These kinds of items are as endless and varied as the types of crafts we do, but the basic idea is that the promo item itself supports whatever it is that you sell. Many crochet and knit pattern writers whip up a bunch of stitch markers that can be given away with the patterns they sell. Someone who designs clothing for kids could include belt-loop charms or if they design for babies, a pacifier keeper. A woman I know who sells roving (the material that yarn is spun from) made a killing by letting it be known that she included handcrafted drop-spindles with her orders. The spindles didn't cost her much time or money to make, but added tons of value to the people purchasing her wares.
How to Use Promo Items
It's all fine and good to have a bunch of neat little extras to give away, but what do you actually do with them to prevent them gathering dust on a shelf?
There are numerous ways to use your promo items. If you are selling at a craft fair, try keeping a small basket of your selected promo items out front. Invite browsers and customers alike to go ahead and grab one. Even if they're not buying today, that little item might keep you in mind long enough to draw them back to your products later on.
Another, more obvious way is to include promo items with your sold products. Whether you ship or sell in person, the addition of the bonus can really make a customer's day. It says "Thank you!" in a way that words alone can't touch.
When you offer items that are useful, like the drop spindles, show off how useful they are. This will only work when you sell in person at a shop or a craft fair, but it makes a huge impact when you use it. Instead of
kicking back wondering how long it will be before the next customer comes along, get out in front and draw a few eyes by showing what can be done with your craft. The demonstration will bring curious lookers who will turn into customers - many of whom wouldn't have considered visiting your booth until they saw you showing off your work.
Basically, try to make the giving of a promo item feel as personal as the item itself. It's that caring touch to our crafts that help us sell them in the first place, and the extra thought of a bonus really drives the "I care" bit home.
The Power of Your Business Card
Sure, everyone needs business cards. But why not make your business card do double or triple the work of an average business card?
Here are 4 proven ways to supercharge your business card into a powerful business tool.
1.Use the back of the card to include sales info. Good marketers know that customers need to be reminded at every opportunity how your product or service will help them. Even though business cards are small, you can still include some information on the back of the card that will remind customers how you are unique, better, and valuable. You could include a short bullet list of features and benefits. You could display some stats and figures, mention awards your product has won, or list a brief testimonial or two. Just a little bit of extra sales information can make a big difference in building relationships and encouraging sales.
2.Use the back of the card as an appointment card. Dr.'s and dentists do this frequently. But other businesses can use the same concept. Sales people of all kinds, realtors, consultants, professionals and more can use the back of their business cards as an appointment card. This is a good idea for several reasons. First of all, it increases the likelihood that a prospect will keep your card close by - at least until you have the appointment. Second, it gives you a reason to give customers more than one business card. The more cards they have the more likely they are to always have one handy when they need it. This is especially important if they are referring you to a friend or relative. They may have an extra card of yours laying around that they can give to someone.
3.Use the back of the card as a map to your store. Maps are important for people who are new to the area, or people who aren't familiar with your part of town. Also, with just a mailing address listed on the front of the card many people don't know exactly where you are. A map will clear that up and again help increase the chances of them hanging on to your card
4.Place a 12-month calendar on the back of your card. This is a very clever technique that is sure to have people keeping your card handy at all times. Believe it or not a 12-month calendar fits nicely on the back of
a standard size business card. I remember when I got my first card that had a calendar on the back of it. It was from an insurance salesman and I literally kept it by my desk at all times. I found it to be much quicker to glance at this card than to thumb through a wall calendar or even to visit Outlook. Each time I picked up the card I remembered who had given it to me. This practice is applicable to any business and in any industry.
Using even one of these 4 tips will greatly enhance the impact that you business card will have. With just a little creative you can turn your business card from a necessary evil, to a powerful tool.
Here are 4 proven ways to supercharge your business card into a powerful business tool.
1.Use the back of the card to include sales info. Good marketers know that customers need to be reminded at every opportunity how your product or service will help them. Even though business cards are small, you can still include some information on the back of the card that will remind customers how you are unique, better, and valuable. You could include a short bullet list of features and benefits. You could display some stats and figures, mention awards your product has won, or list a brief testimonial or two. Just a little bit of extra sales information can make a big difference in building relationships and encouraging sales.
2.Use the back of the card as an appointment card. Dr.'s and dentists do this frequently. But other businesses can use the same concept. Sales people of all kinds, realtors, consultants, professionals and more can use the back of their business cards as an appointment card. This is a good idea for several reasons. First of all, it increases the likelihood that a prospect will keep your card close by - at least until you have the appointment. Second, it gives you a reason to give customers more than one business card. The more cards they have the more likely they are to always have one handy when they need it. This is especially important if they are referring you to a friend or relative. They may have an extra card of yours laying around that they can give to someone.
3.Use the back of the card as a map to your store. Maps are important for people who are new to the area, or people who aren't familiar with your part of town. Also, with just a mailing address listed on the front of the card many people don't know exactly where you are. A map will clear that up and again help increase the chances of them hanging on to your card
4.Place a 12-month calendar on the back of your card. This is a very clever technique that is sure to have people keeping your card handy at all times. Believe it or not a 12-month calendar fits nicely on the back of
a standard size business card. I remember when I got my first card that had a calendar on the back of it. It was from an insurance salesman and I literally kept it by my desk at all times. I found it to be much quicker to glance at this card than to thumb through a wall calendar or even to visit Outlook. Each time I picked up the card I remembered who had given it to me. This practice is applicable to any business and in any industry.
Using even one of these 4 tips will greatly enhance the impact that you business card will have. With just a little creative you can turn your business card from a necessary evil, to a powerful tool.
Tips to Consider when Choosing a Business Credit Card
So it's come to a time when you think a business credit card would be very beneficial to keeping the cash flow consistent and helping track purchases rather than collecting the endless trail of grocery store or
Walmart receipts for small purchases.
This really is a big decision. Many needs can be the same with businesses but then some are not. You need to ask:
What do I need the credit card to do for my business?
How much credit does my business really need?
How much can I afford to charge and reasonably pay back the next month?
Will the owner be the only one using the card or will employees be using it?
Which expenses will I'll be paying with it?
Will I use it for recurring monthly payments?
Does the business get a better deal on pricing if they pay upfront for inventory? If a payment is made before delivery will the business be able to pay off the receipt of goods within 30 days? Paying before finance charges are applied might be necessary to get the benefit of paying for the shipment early.
It's the same idea for other bills you might decide to pay off earlier every month. You could negotiate better terms when buying reoccurs monthly or your business buys 2 months in advance to get a better price and a break on monthly shipping.
The question of whether employees will use the card is a good one because some credit card companies have special promotions at times to accommodate that business need. If employees have their own cards you will be able to track spending a little closer. There are options with some business cards that protect owners from misuse by employees. Owners also have the ability to put spending limits on employee cards. Your company will also have the protection that comes with the card against fraud, against faulty goods as well as service that wasn't satisfactory.
Do you expect there will be enough travel miles to warrant getting a card that offers rewards like free flight fares or nights at a hotel? The perks like these are offered to be more attractive in getting the business community on line with a particular credit card. Some cards even offer free gas when the card is used for traveling by car.
By asking all the questions mentioned your company has a better chance at choosing the best credit card for it's needs. And we saved the best for last. Consider what is the best interest rate you can get? Is a
lower interest rate more attractive than other savings or perks you might be able to get with your card?
More incentive to sit and reason this choice with all benefits considered. Wishing you great growth and many returns with your business.
Walmart receipts for small purchases.
This really is a big decision. Many needs can be the same with businesses but then some are not. You need to ask:
What do I need the credit card to do for my business?
How much credit does my business really need?
How much can I afford to charge and reasonably pay back the next month?
Will the owner be the only one using the card or will employees be using it?
Which expenses will I'll be paying with it?
Will I use it for recurring monthly payments?
Does the business get a better deal on pricing if they pay upfront for inventory? If a payment is made before delivery will the business be able to pay off the receipt of goods within 30 days? Paying before finance charges are applied might be necessary to get the benefit of paying for the shipment early.
It's the same idea for other bills you might decide to pay off earlier every month. You could negotiate better terms when buying reoccurs monthly or your business buys 2 months in advance to get a better price and a break on monthly shipping.
The question of whether employees will use the card is a good one because some credit card companies have special promotions at times to accommodate that business need. If employees have their own cards you will be able to track spending a little closer. There are options with some business cards that protect owners from misuse by employees. Owners also have the ability to put spending limits on employee cards. Your company will also have the protection that comes with the card against fraud, against faulty goods as well as service that wasn't satisfactory.
Do you expect there will be enough travel miles to warrant getting a card that offers rewards like free flight fares or nights at a hotel? The perks like these are offered to be more attractive in getting the business community on line with a particular credit card. Some cards even offer free gas when the card is used for traveling by car.
By asking all the questions mentioned your company has a better chance at choosing the best credit card for it's needs. And we saved the best for last. Consider what is the best interest rate you can get? Is a
lower interest rate more attractive than other savings or perks you might be able to get with your card?
More incentive to sit and reason this choice with all benefits considered. Wishing you great growth and many returns with your business.
Benefits of a Small Business Credit Card
When you have your own small business, benefits are important. One of tools that you can use to grow your small business is a small business credit card. There are several benefits to having a small business credit
card:
Build your business credit history
Even businesses have credit histories. It can be important for you to build a good credit history, as it will allow you to take advantages of other opportunities to expand your business. Before you can expand with a small business loan, you need to have an established business credit history.
Higher spending limits
A small business credit card comes with higher spending limits than a personal credit card. This means that you have the available capital to get what you need, when you need it. And it can be easier than getting approved for a loan from a bank. Just make sure that you carefully consider large charges to your small business credit card.
Earn rewards and perks
Many small business credit cards come with rewards and perks that you can use to further build your business. Earn travel, business equipment and gifts. These are all things that cost money -- and you can earn them for free!
Protection for your small business
Credit cards offer extra protection. You can get things like traveler's insurance and rental cars through your credit card. Additionally, all credit cards, including small business credit cards, come with fraud protection. This will protect you better than a debit card.
Legitimacy
A small business credit card can add legitimacy to your company. It shows that you are a serious business, with separate accounting practices. Additionally, a small business credit card can simplify accounting by eliminating cash and checks. A built-in record of your business transactions is standard. Just make sure that you keep your small business credit card for your business only.
Enforce company spending limits
This can be very important. You can get additional cards for trusted employees, and you can set the limits. You can choose limits for the whole company, or choose limits for certain trips or individuals. You can be more
in control, and everything is tracked.
It is important to remember that you need to be as responsible with your small business credit card as you are with a personal credit card. Don't let things get out of hand. If you use a small business credit wisely, it becomes an asset.
card:
Build your business credit history
Even businesses have credit histories. It can be important for you to build a good credit history, as it will allow you to take advantages of other opportunities to expand your business. Before you can expand with a small business loan, you need to have an established business credit history.
Higher spending limits
A small business credit card comes with higher spending limits than a personal credit card. This means that you have the available capital to get what you need, when you need it. And it can be easier than getting approved for a loan from a bank. Just make sure that you carefully consider large charges to your small business credit card.
Earn rewards and perks
Many small business credit cards come with rewards and perks that you can use to further build your business. Earn travel, business equipment and gifts. These are all things that cost money -- and you can earn them for free!
Protection for your small business
Credit cards offer extra protection. You can get things like traveler's insurance and rental cars through your credit card. Additionally, all credit cards, including small business credit cards, come with fraud protection. This will protect you better than a debit card.
Legitimacy
A small business credit card can add legitimacy to your company. It shows that you are a serious business, with separate accounting practices. Additionally, a small business credit card can simplify accounting by eliminating cash and checks. A built-in record of your business transactions is standard. Just make sure that you keep your small business credit card for your business only.
Enforce company spending limits
This can be very important. You can get additional cards for trusted employees, and you can set the limits. You can choose limits for the whole company, or choose limits for certain trips or individuals. You can be more
in control, and everything is tracked.
It is important to remember that you need to be as responsible with your small business credit card as you are with a personal credit card. Don't let things get out of hand. If you use a small business credit wisely, it becomes an asset.
Advantages of Using a Business Credit Card
Congratulations! Careful planning and stout determination have transformed your ideas into reality. Your new business is proof that the American dream still exists. Small business ownership, though, is not for the faint
of heart. Juggling all the daily responsibilities that come with entrepreneurship can be overwhelming. Managing your time wisely should be a top priority.
A business credit card offers the advantage of saving you precious time and reducing stress. Some credit card companies even offer a card with 60 days of no interest (instead of the usual 30 days) when you charge new purchases on your card. And with a business credit card, you will usually be able to obtain a larger line of credit than if you applied for just a personal credit card.
Every business needs supplies and services. All these transactions can quickly become the small business owner’s arch nemesis if not handled correctly. Carrying cash is burdensome and unnecessarily leaves you at risk for theft. Writing checks generates a checkbook that needs to be balanced more frequently (and a big headache when it doesn’t add up at the end of the month).
Using a business credit card makes it easy to purchase business items. Only one check is written each month—instead of the usual twenty or more. Going a step further, perhaps clicking suits your style; credit card payments can be made via an online checking account. Online credit card statements can even be integrated into your accounting software.
Often times, a small business owner isn’t the only one making purchases. Are invoices and expense reports from employees piling up on your desk? Business credit cards end the paper pile-up and organize employee spending. An online account can monitor each employee’s credit card usage on a daily basis.
Last, but not least, using a business credit card has its perks. Discounts on airfare and merchandise are available, and varies with the card. Some cards offer savings through a point system, while others offer cash
rebates. Choose from a cash back plan where you earn a specified amount each time you make purchases with your card (usually 2% of the total spent).
In a nutshell, business credit cards help businesses to operate more efficiently while offering great incentives. With so many cards that have no annual fee and low APR rates, what are you waiting for? Charging instead of using cash or checks is the right choice for a growing business like yours.
of heart. Juggling all the daily responsibilities that come with entrepreneurship can be overwhelming. Managing your time wisely should be a top priority.
A business credit card offers the advantage of saving you precious time and reducing stress. Some credit card companies even offer a card with 60 days of no interest (instead of the usual 30 days) when you charge new purchases on your card. And with a business credit card, you will usually be able to obtain a larger line of credit than if you applied for just a personal credit card.
Every business needs supplies and services. All these transactions can quickly become the small business owner’s arch nemesis if not handled correctly. Carrying cash is burdensome and unnecessarily leaves you at risk for theft. Writing checks generates a checkbook that needs to be balanced more frequently (and a big headache when it doesn’t add up at the end of the month).
Using a business credit card makes it easy to purchase business items. Only one check is written each month—instead of the usual twenty or more. Going a step further, perhaps clicking suits your style; credit card payments can be made via an online checking account. Online credit card statements can even be integrated into your accounting software.
Often times, a small business owner isn’t the only one making purchases. Are invoices and expense reports from employees piling up on your desk? Business credit cards end the paper pile-up and organize employee spending. An online account can monitor each employee’s credit card usage on a daily basis.
Last, but not least, using a business credit card has its perks. Discounts on airfare and merchandise are available, and varies with the card. Some cards offer savings through a point system, while others offer cash
rebates. Choose from a cash back plan where you earn a specified amount each time you make purchases with your card (usually 2% of the total spent).
In a nutshell, business credit cards help businesses to operate more efficiently while offering great incentives. With so many cards that have no annual fee and low APR rates, what are you waiting for? Charging instead of using cash or checks is the right choice for a growing business like yours.
Opening an American Bank Account
Opening an American bank account is not difficult. It is more time consuming than anything. To properly open an account, there are a number of items you need to have available. Each financial institution (bank) has its
own requirements for opening an account. Call ahead to find out exactly what each needs. Overall, there are some basic items you need. You need to have the following items available upon request. In all cases, valid means current. The bank may ask for any of the following when opening a bank account:
· A valid official photograph identification. Usually, this is a driver's license. This way the bank representative can be certain you are who you say you are. It needs to contain your name, address, and have an expiration date on it.
· Valid Driver's License. Once again, this is from the country you are coming from. It must contain your photograph, address, and date of birth. It must also be current as of the date you plan on opening your bank account.
· A current passport from the country you are coming from. This should contain a photograph, also. The passport cannot be expired at the time you are opening your new bank account. Some banks will accept your passport and not require another form of photo identification. Once again, ask first.
· A valid credit card. A valid credit card is any legitimate credit card with your name. It must have an expiration date that is current at the time of your opening the new bank account. Major credit cards accepted worldwide include VISA, MasterCard, and American Express. Check with your potential bank to be certain they accept yours. Some banks accept American Express, some do not. All will accept VISA and MasterCard.
· A valid bankcard. A bankcard is also known as a cash card or debit card. It would be from the bank of your originating country. It must have your name on it, along with an expiration date. It must be current as of the date of your opening the new bank account.
· Date of birth. Your date of birth will be needed to further prove you are who you claim to be. Having your Birth Certificate available can prove this.
· Your mother's maiden name. This is needed, usually, for security purposes. This information will be put onto your account. Only the bank employees and you will know this information, hopefully. When you
have a question on your account, this is one of the 'secret questions' the bank will ask. They use this to ascertain that you are really you.
· Utility bills, phone bills, other bills. These bills are used sometimes to proof your address. You need to have a current address to open an American bank account. This applies to all banks. It is recommended to take at least one utility or phone bill with you, just in case.
· Social Security card. If your country has a social security card, bring it. This is another form of identification used as proof of who you claim to be. If you do not have one, ask the bank what other forms of identification are acceptable.
Prior to visiting your preferred bank, place all the needed information in an envelope. This makes it available easily and conveniently.
In short, as mentioned above, American banks differ in their requirements for opening an account. Some only require a passport. Others require credit card, passport, and a fee. Ask for literature, or speak to a bank representative to have your questions answered.
own requirements for opening an account. Call ahead to find out exactly what each needs. Overall, there are some basic items you need. You need to have the following items available upon request. In all cases, valid means current. The bank may ask for any of the following when opening a bank account:
· A valid official photograph identification. Usually, this is a driver's license. This way the bank representative can be certain you are who you say you are. It needs to contain your name, address, and have an expiration date on it.
· Valid Driver's License. Once again, this is from the country you are coming from. It must contain your photograph, address, and date of birth. It must also be current as of the date you plan on opening your bank account.
· A current passport from the country you are coming from. This should contain a photograph, also. The passport cannot be expired at the time you are opening your new bank account. Some banks will accept your passport and not require another form of photo identification. Once again, ask first.
· A valid credit card. A valid credit card is any legitimate credit card with your name. It must have an expiration date that is current at the time of your opening the new bank account. Major credit cards accepted worldwide include VISA, MasterCard, and American Express. Check with your potential bank to be certain they accept yours. Some banks accept American Express, some do not. All will accept VISA and MasterCard.
· A valid bankcard. A bankcard is also known as a cash card or debit card. It would be from the bank of your originating country. It must have your name on it, along with an expiration date. It must be current as of the date of your opening the new bank account.
· Date of birth. Your date of birth will be needed to further prove you are who you claim to be. Having your Birth Certificate available can prove this.
· Your mother's maiden name. This is needed, usually, for security purposes. This information will be put onto your account. Only the bank employees and you will know this information, hopefully. When you
have a question on your account, this is one of the 'secret questions' the bank will ask. They use this to ascertain that you are really you.
· Utility bills, phone bills, other bills. These bills are used sometimes to proof your address. You need to have a current address to open an American bank account. This applies to all banks. It is recommended to take at least one utility or phone bill with you, just in case.
· Social Security card. If your country has a social security card, bring it. This is another form of identification used as proof of who you claim to be. If you do not have one, ask the bank what other forms of identification are acceptable.
Prior to visiting your preferred bank, place all the needed information in an envelope. This makes it available easily and conveniently.
In short, as mentioned above, American banks differ in their requirements for opening an account. Some only require a passport. Others require credit card, passport, and a fee. Ask for literature, or speak to a bank representative to have your questions answered.
Saturday, 18 December 2010
How the FDIC Affects Your Wallet
You might be surprised to learn that the FDIC is not funded by tax payer revenue, so it receives no Congressional appropriations. Rather, it’s funded by premiums that banks and thrift institutions pay for deposit insurance coverage and from earnings on investments in U.S. Treasury securities. With an insurance fund totaling more than $45 billion, the FDIC insures more than $5 trillion of deposits in U.S. banks and thrifts – deposits in virtually every bank and thrift in the country.
Banks and thrift institutions have to comply with a host of regulations and safe operating guidelines designed to protect depositors and their money. In many ways, the FDIC could be considered a consumer protection agency as it supervises and regularly examines insured banks to make certain they are operating in safe and sound ways, thus protecting customers and their deposits.
On October 3, 2008, FDIC deposit insurance temporarily increased to $250,000 per depositor through December 31, 2009, but there is legislation currently proposed in Washington to keep the $250,000 coverage permanent. Many experts believe this will pass with little resistance, but only time will tell.
Your money in savings, checking and other deposit accounts, when combined, is generally insured to $250,000 per depositor in each bank or thrift the FDIC insures. Deposits held in different categories of ownership – such as single or joint accounts – may be separately insured. Also, the FDIC generally provides separate coverage for retirement accounts, such as individual retirement accounts (IRAs) and Keoghs, insured up to $250,000. The FDIC’s Electronic Deposit Insurance Estimator can help you determine if you have adequate deposit insurance for your accounts. We’ll cover ownership categories in more detail in our next installment.
The FDIC, Your Bank, and You
We’re launching our blog with a short series of posts dedicated to how we work with the Federal Deposit Insurance Corporation, or FDIC, to protect your hard-earned cash. (With bank failures and economic doom-and-gloom all over the news we thought it a good place to start.) But before we get into specifics, we need to provide a brief history of the FDIC and its role as a consumer protector.
The FDIC was created as an independent agency of the federal government in 1933 in response to the bank failures of the 1920’s and early 1930’s. The FDIC is headquartered in Washington, D.C., but conducts its business in Utah from a field office in Salt Lake City. This field office works closely with the Utah State Department of Financial Institutions to oversee the safety and soundness of many of the state’s banks, including Western Community Bank. Since the start of the insurance program on January 1, 1934, no depositor has lost a single cent of FDIC-insured funds from a bank failure.
The FDIC insures deposits only. It does not insure securities, mutual funds or similar types of investments that banks and thrift institutions may offer. (See Insured and Uninsured Investments on the FDIC website to determine what is and is not protected by FDIC insurance.)
Upcoming installments will cover “How the FDIC Affects Your Wallet,” “How to Make the Most of FDIC Insurance Coverage” and “How the FDIC Affect’s Your Bank’s Service.” We hope these posts will help you gain a better understanding of how you can better protect your hard-earned cash, and how your bank is working to protect you.
Make the Most of FDIC Insurance
Our last post made reference to the FDIC’s Electronic Deposit Insurance Estimator, or EDIE, to help you determine if you have adequate deposit insurance for your accounts. Today we’ll delve further into ways you can make the most of available FDIC deposit insurance coverage.
Perhaps one of the best features of FDIC deposit insurance is that’s free. You qualify for it simply by opening a qualified deposit account at an FDIC insured bank. How much insurance you can receive is a different matter. The amount of coverage is based on factors such as the amount of money you have in an insured bank, the type of account, and the kind of ownership category the account falls into.
You can never receive more money than you have in your deposit account. Traditionally, the FDIC has insured deposits up to $100,000 per depositor, but on October 3, 2008, FDIC deposit insurance temporarily increased to $250,000 per depositor through December 31, 2009. So this means if you and your family have $250,000 or less in all of your deposit accounts at the same insured bank or savings association, you do not need to worry about your insurance coverage – your deposits are fully insured. A depositor can have more than $250,000 at one insured bank or savings association and still be fully insured provided the accounts meet certain requirements
You may qualify for more coverage if you own deposit accounts in different ownership categories. The best source of information regarding ownership categories is the FDIC. So to help you determine how you can establish your accounts in the proper ownership categories and to help you maximize your coverage, we suggest you take some time to review the information on the FDIC’s insurance coverage info page.
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The Princess and the Penny
Do you remember the story of the Princess and the Pea where a pea is placed below a ridiculous stack of mattresses to help a desperate prince determine if a traveler claiming to be a princess really is a princess? The prince thought if the woman could feel a pea through all those mattresses that she had to be a princess, because “only a princess could have skin so delicate” as to feel that small irritating pea under all of those mattresses. Sure enough, the woman proved to be a princess. She did not sleep all night because she could feel the tiny irritant under all the mattresses. Imagine what she would think today sleeping on one mattress with a penny-or a stash of money-stuffed under it.
Admittedly, this story is recalled in order to make a point: As bad as the economy is, or may get, the mattress is not the smartest way to save. If you don’t want to loose sleep over the safety of your money, or sleep with an annoying lump in your bed, do some homework and find a safe and secure bank where you can open a simple savings account. You will have greater peace of mind knowing your money is FDIC insured and that your bank is working hard to deserve your trust.
Remember that the bank failures you’re hearing about in the news are typically large banks, and that there are thousands of smaller institutions, like community banks, that continue to operate in safe and sound ways. What’s more, your local community bank is most likely owned, managed, and operated by people in your community who understand your needs, the local economy, and the issues that affect your neighborhood.
Resist the temptation to open a “restless-nights-sleep account” and open a simple savings account at a trusted local community bank instead. You’ll sleep better.
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Benefits of “Going Local”
“The past few years have seen increased emphasis on “going local,” or supporting local communities by consuming products that are produced and sold by independent organizations rather than big-box, franchised retailers,” according to American Fork City Councilman, Dale Gunther in an article published in the February 2009 Utah County Business Journal. “The trend has really taken off…because it helps local communities thrive by reinvesting local dollars at home.”
“While it’s natural to think of products such as produce and art as part of the “going local” movement,” Gunther continues, “one product that is often overlooked is the community bank. Yes, the community bank is indeed a local product that supports local communities.”
So what are some benefits to banking with a local community bank? Here are a few cited by Mr. Gunther:
- “Community banks are locally owned and geographically centralized. This means the money deposited by citizens in your town is generally loaned back to citizens in your town” – not citizens or businesses in other states or even counties.
- “Local management also means faster decision making and less red tape.”
- “At community banks, there are fewer layers to get to the top, which means you have easier access to executives.”
- The employees of community banks are almost always from the community. They “know the community and have been working at the bank long enough to know how to best meet the needs of the community. They know the market and have a vested interest in seeing the local economy succeed.”
- Smaller banks are better to work with you when you have problems with your account. “[They] work with you to avoid fees in the first place and, when incurred, they don’t sting as much as those of their bigger brethren.”
When you consider “going local,” do as Mr. Gunther suggests and “realize that as much as spending locally lifts communities, saving and borrowing locally does, too,”
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“How much should I have in savings?”
It’s not often that I read the magazines in the break room–partly because I could care less what’s going on with Brangelina or because I have no interest in making cupcakes look like butterflies. But I confess to opening the April 1, 2009 issue of Family Circle Magazine a few days ago and stumbling upon an article by Kate Ashford titled “Financial Planner.” The article was shorter (much shorter) than I expected, but there were some good bits of advice.
“Confused by the economy?” Ms. Ashford begins, then answers four (only four, mind you) finance-related questions. I’m not going to repeat them all–you can click the link to the article above if you want to read the entire piece. The third question and response is worth sharing here because I hear this question with some regularity when I’m in the bank, and when people I meet find out I work at a bank:
“Q. How much should I have in savings?
A} At least six months of living expenses. The general rule of thumb has always been that dual-income families should have three to six months of living expenses accessible in a savings account…But fewer than 40% of adults have enough in savings to tide them over for even three months, according to Bankrate.com. And now that the economy is so uncertain, experts are leaning toward six months. “If someone loses his job, it’s anybody’s guess how long it will take to become employed again,” says Donald E. Whalen, a certified financial planner in Alpharetta, Georgia. But don’t get overwhelmed by the thought of having to save so much money-”living expenses” doesn’t mean cash for leisure activities. It’s the money needed to cover bare essentials, like mortgage, food, and health insurance.”
To beef up your emergency fund:
A) Set up a weekly automatic debit from your checking account into a high-interest savings account, and increase the amount when you can.
B) Raise the deductibles on your home and auto insurance, or shop around for a better deal, and then stow the difference in a savings account.
C) When you finish paying off a credit card, keep making payments-to your emergency fund.
D) Try bundling expenses (like getting phone, Internet and cable from one company) then stash the savings.”
These are great ideas, and the emphasis is clear: Look for places to cut expenses and then save the money rather than spend it. For more ideas on how to save money, check out some of our past posts.
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Half-empty or Half-full?
The US Department of Labor released a report today stating that the national unemployment rate rose to 8.5% in March 2009 — the highest level since 1983. At the risk of sounding a little heartless: So what? What does this often quoted statistic mean to me and you? It’s 8.5% of what? How does Utah, or Utah County, or Orem, Lindon, Pleasant Grove, or American Fork fit into this statistic? These are all good questions that deserve some attention. So here goes…
The unemployment rate is a measure of the percentage of the work force that is unemployed at any given date–which means that 91.5% of the work force is still employed according to the March 2009 numbers.
How does this affect us locally? For simplicity’s sake, let’s take a look at February’s statistics, because we have them for the nation and state. In February 2009, the US unemployment rate (or sometimes called jobless rate) was 8.1%, which means that the 91.9% of the workforce who wanted to be employed had a job. The rate for the same period in Utah was 5.1% (or 94.9% employed). This puts Utah at number six on the list behind Wyoming (3.9%), Nebraska, North Dakota, South Dakota, and Iowa (4.9%) out of the 50 states and Washington D.C. In the Provo-Orem and Salt Lake City Metropolitan Statistical Areas, the rate was 5.2%. This places our local rate at 27 on a list of 372 other Metropolitan Statistical Areas.
We all know we’re in turbulent economic times, but in our neck of the woods we’re not being impacted as heavily as other areas of the country, and we’re not getting through it unscathed, either. Have we seen the worst of it? Probably not. Is the glass half-empty? No. There is still plenty to be thankful for, because it surely could be a lot worse for many more people.
Chances are high that you know someone who has been laid-off or needs a job. Do them a favor by keeping your ears and eyes open for opportunities, and let them know about what you see or hear. History tells us that communities that work together are usually better insulated against downturns as each member helps his or her fellow citizens. The situation will get better. At a recent event I attended, Steve Forbes, the Chairman and CEO of Forbes, Inc., and Editor-in-Chief of Forbes Magazine, said, “The world can only end once–and this is not it.”
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