bizthreads.net: Business Information for Entrepreneurs by an Entrepreneur

Employee Motivation Tips

Contrary to popular belief, most motivation techniques are easy, effective and affordable. Most managers get confused between employee benefits and employee motivation. The fact is that employee benefits are remuneration for their services. You give your employees a pay hike when they have surpassed the deadlines or when you believe that they deserve it.

Although a bonus influences performance positively, it is usually not enough to motivate your employees. Employee motivation emphasizes giving recognition to your employees. Many managers fail to appreciate the skills of their employees simply because they are paid for their skills. However, this can have an adverse effect on employee performance. Unfortunately, most managers have a word with their employees only when something goes wrong. For high level work teams, positive reinforcement is crucial.

Share Good Rapport

It is imperative for you as a manager to share good rapport with your staff. Small gestures like remembering their birthdays, sending them a birthday card and organizing a small party occasionally, goes a long way in building good relationships with employees. If you are planning to send a personalized, hand written card, make sure that the message is short, sincere and meaningful.

Many organizations send e-cards to their employees on their birthdays. E-cards are a smart way of saying ‘You Care' and have other added advantages such as date reminders and auto-send options. When an employee gets attention, recognition, and appreciation from management, they works harder for the organization, thereby boosting team performance. You can also plan a small get-together for special occasions such as Christmas and New Year that will give you an opportunity to shed your professional armor and have fun with your employees.

Remember, when you take the time to appreciate your employees, they will work harder for your business.

Product Sourcing Tips For E-Merchants

If you have a startup business, and are selling a product, then the realities of product sourcing can easily become a setback. Product sourcing does not have to be difficult, though. If you want your e-store to become a profitable investment, then you need to be creative with your sourcing methods.

• Smart searching: Avoid general terms while sourcing online. Googling ‘wholesale widgets' brings good results, but it is very difficult to identify a good vendor. You can qualify your searches by using terms like ‘distributor', ‘designer' and ‘manufacturer' instead of using the generic ‘widgets'. You could even use individual product names and models.
• Consulting traditional business directories: Many wholesalers don't have an online presence, so you can find them in traditional directories like the white or yellow pages.
• Trade publications: You can subscribe to a trade magazine - they are packed with advertisements of manufacturers and distributors. Offline business is usually conducted this way.
• Trade fairs: Attending a trade fair can pay off enormously. They provide lots of opportunities for sourcing and networking. You will also be able to establish contacts with suppliers and negotiate prices.
• Expert advice: A personal approach in the offline world can yield excellent results - people love to talk about their successful business ventures.
• Contact the manufacturer: You can identify supplier and distributor via the telephone.
• Check product packaging: If you are not able to find any information about the manufacturer, then you may have to buy the product.

By being creative in your product sourcing, you'll be able to find a suitable vendor for your business.

How To Find Link Partners

The search engine puzzle is never-ending! I'm always looking for ways to make my website come up higher in the search engine results. One of the best ways to do this is by finding link partners.

It's always better to find link partners with pages that are indexed by the search engines and also to have a page rank. You can ask your link partners for inbound links from their ranked pages, which are indexed - both partners then gain from this exchange.

There are two major ways to use your links. The first one is to improve your search engine rankings. You can improve your ranking by reciprocal link exchanges, viral techniques and triangular link techniques to get your links onto sites. The second option is to purchase links on other sites or exchange links to benefit from web traffic.

You should always avoid bad linking neighbors, also known as link farms. In general, if a site contains generated content, many links per page or a massive useless link directory then they are probably a ‘bad neighborhood'. Partnering with such sites can get you de-indexed or penalized.

Exchanging Links

Exchanging links with other webmasters can increase your page rank and also make your site an asset. You can sell the site, or sell links from your ranked pages, thus generating revenue. If you have a high page rank with little traffic then you can barter it with other sites that have lot of traffic, thus enabling them to switch over to receiving more natural search engine traffics.

The real purpose of a link directory is to provide a real and useful resource to your site visitors. If you create links keeping this in mind, it will help your search engine rankings.

If you have lot of traffic and a low page rank, you can raise your Alexa rating to get high page rank links. You can do this by communicating with other webmasters with a link exchange offer. This way you can gain a high page rank.

An Introduction To Business Ethics

I've observed that even individuals who have strong moral values can make ethically questionable decisions in any business. There are many factors that influence vital business decisions. The general factors that affect these decisions include the influence of individual characteristics and preferences, opportunities and social elements.
Individual factors: Different individuals have different levels of understanding and this affects their decisions. A decision maker with vast knowledge about a situation or a particular subject is better equipped to avoid conflict and handle related business issues effectively. An individual's moral values and attitude influences their decisions and also their behavior within an organization. Most people join an organization to achieve their personal goals; however, sometimes the method of interaction adopted is contrary to what is expected.

Opportunities: Decisions also depend on the opportunities offered by an organization to an employee to behave ethically. Some organization policies do not provide many opportunities to employees and this can result in unethical behavior. There are some others who reduce the chances of their employees behaving unethically. For example, in some restaurants an employee takes an order and receives the payment, while another person fills the order. This procedure reduces the opportunity of unethical behavior, since the person handling the money is not dispensing the products.

Social Factors: A person's behavior in an organization depends on his cultural background and this differs from person to person. For example, in some countries it is ethical to receive gratuities for performing ordinary legal tasks, while in some countries this is considered unethical and even illegal. The actions and decisions taken speak volumes for a person's sense of business ethics. An individual's moral values, ethics and attitude affect his perception about what is unethical and ethical, within the workplace.

By being aware of the various factors that affect business ethics, you can ensure the utmost standards of integrity in your business.

The Art Of Blogging For Profits

Blogging well is an art — and if you have a product to sell like I do, then this is one of the best ways to get your product or service in front of your target market. Blogging doesn't cost anything except your time.

Business blogs are generally created to advertise the products and services of an online business or web site and thus increase sales and business exposure.

You can create an interesting and profitable blog if you follow some basic tips:

• Consider your audience: Even if the blog is personal, it should interest readers - this is possible only if you understand their mindset.

• Pictures: The fact that ‘pictures speak volumes' is evident in a blog that contains pictures. Any picture will do, as long as it is not insulting or biased.

• Constructive and beneficial blogs: Even though writing a blog is free, you have to write on interesting subject matter that is useful to your readers.

• Avoid multifaceted and complicated blogs: To make an interesting blog, avoid the use of technical terms.

• Make it interactive: Make your blog interactive by enhancing it with a video or audio clip.

You can also make your blog more interesting by designing a feedback column. This way, you can invite reactions and reviews from your readers. You might even make new friends by simply making the readers feel comfortable with your blog site.

Ezine Marketing Tips

Interested in knowing the tricks of ezine marketing? Then you need to think beyond the basics. Try communicating with an ezine owner for a joint venture via the telephone. Internet business owners are generally reluctant to interact with people wanting to forge a relationship, but this is one of the best ways to bag a good deal!

• Use a powerful ‘call to action' in your advertisement.
• Contact an ezine owner through snail mail for joint ventures, as contacting one via email is generally difficult due to the many emails they receive each week.
• You should contact an ezine owner and check whether they would be interested in free video tutorials. Then, you could turn a submitted script into a video presentation using Power Point. You can then present the video clip every 2 to 4 weeks.
• While designing an advertisement, avoid selling anything to anyone. Instead offer something completely free, to entice readers to sign up. You should format an ezine advertisement carefully before you send it to the publisher. If your text lacks proper formatting or looks unprofessional, it may not be accepted. You should enter into a contract with the ezine owner, promising at least one quality article every month.

Using the above Ezine marketing tips will help you to put your product in quality ezines, gaining more exposure and sales for your business.

Top Ways of Turning Land Into Wealth

In this era of diminishing supply of land and an ever-increasing demand for it, being a landowner is considered the ultimate. Investing in land is considered to be the best investment because it is a ‘no loss, only profit' investment. It is a proven fact that the demand for land has been increasing and outperforms even the stockmarket as a financial instrument.

How To Make Your Land Investment The Best Investment

There are countless ways to make a profit from your land investment. Here are seven of them:

1. If you are more of a cautious investor, purchase land at a discounted price and immediately sell it for a profit. The important points to keep in mind are the identification of a good source and selling to a ready buyer.
2. If you are more of a speculative investor, then after purchasing land, you should wait for some time, for the price to increase - then sell it.
3. If you are an investor who is more into doubling the value of the property, then after purchasing land, wait for the prices to increase and develop the property. For a more profitable transaction, develop the property along the current trends. For example, if the surrounding area is commercially developed, then plan on the construction of a shopping complex, instead of a residence.
4. If you have purchased land as insurance, then you should build a home on it and allow your children to benefit from it.
5. If you are interested in short-term benefits, then use it to generate finance and lend it to someone else. You can then earn a short-term monthly income in the form of the interest.
6. If you want to go for long-term income, you could build a house on your land and rent it out. This requires a capital and a lot of patience, but the end result is definitely worth it.
7. Finally, everyone knows that land is a limited resource and owning a limited resource automatically attracts lucrative offers.

Creative Ways To Reward Employees

As a business owner, your employees make it possible for your business to run, and run well. However, unfortunately it is very rare that the sincerity and diligence of employees is acknowledged. Rewarding your employees well can be a great motivator. It also helps to enhance the performance levels of employees.

It is not necessary to reward your employees with just money (although is nice). You can always boost your team members' morale and encourage them to perform better by being creative.

Ways To Reward Employees Without Financial Strain

A great way to reward your employees is to simply appreciate them for their efforts. Positive feedback is as remarkable morale booster. Sharing the success of employees with their family members is a good idea too, as it will not only help in strengthening the bond with employees, but also elevate the image of the company. The family is then in a better position to understand the specific working requirements and will in turn, supplement the employee's efforts with magnanimous support.

Ways To Share The Success With The Family

There are different ways to go about sharing success. You can either write letters regularly to the family members, accentuating the employee's accomplishments or pay a short visit to the home, to update the family on the recent achievements of the employee.

Ways To Promote Motivation Among Employees

Alternatively, you can promote a group, where each member highlights the positive contributions of the other team members during the month. The team members can also share the issues faced with the other employees, to be able to come up with business solutions and deliver great performance.

Sales Call Tips

As a business owner, I know that there are many reasons behind every purchase made. Closing a sale through verbal communication is always effective and successful. There is a time for business visits and the exchange of pleasantries - but don't confuse these with sales calls. 

There should be a valid reason behind every sales call, whether on phone or in person. Making a sales call on time indicates to your customers that you have given some thought to their presence and hope to help them profit while adding value to their business.

Things To Avoid While Making A Sales Call 

• No matter how badly you want to sell your products, never pretend, lie or exaggerate because customers eventually discover the truth - you will end up losing much more in the long run.
• Make sales calls only when you are sure that you will meet the decision-maker. 
• Always refer to your competition as ‘the other company' and never attempt to knock them down. Present a valid reason as to why your products are superior to those of your competitors.
• Do not make a sales presentation until you have identified a valid client need for the product or service you are selling.

It always helps to make a list of questions to ask before making a sales call. This helps you to plan your sales pitch accordingly.

Using A Business Credit Card

Ah, credit cards — arguably one of the least-favorite topics among business owners. But they don't have to be all bad. Many business owners spend a considerable amount of time writing out checks to pay suppliers, but with the help of business credit cards, you can use this time for the business. You don't need to (and shouldn't for safety) carry checkbooks everywhere you go or keep a large amount of cash at the office.

Using Business Credit Cards

Business credit cards are very useful in enabling effective separating, tracking and controlling of business expenses. Some of the features that you should look for when applying for a business credit card are:

• Variety of services
• Low rates 
• Easy access to account
• Quality customer support

Using a business credit card is more than just about debt management, fund availability and securing credit. It involves effectively building your credibility and reputation, and that of your business. Sustaining credit is a great way of instilling confidence and growing and expanding your business. Every business owner has a number of reasons for the need for a good business credit card.

As with a credit card for personal use, business credit cards should be used wisely and you should always keep track of your expenditures.