Open for Business with Tom Egelhoff

60 Ways to Increase Your Influence Online by Sam Rosen

2012-02-15T08:06:00.000-08:00

Sam Rosen has assembled a listing of great tips for improving your online influence like Guy Kawasaki, Gary Vaynerchuk, Robert Scoble, MarketingSherpa’s Anne Holland, MarketingProfs’ Ann Handley, David Meerman Scott, and many others.

Check out "60 Ways to Increase Your Influence Online" by Sam Rosen

For 400 pages of FREE small business articles and tips visit: Small Town Marketing.Com

Tax Tips for the Self-Employed

2012-02-09T08:57:00.000-08:00

IRS Tax Tip 2012-16, January 25, 2012 - From Small Town Marketing.Com

There are many benefits that come from being your own boss. If you work for yourself, as an independent contractor, or you carry on a trade or business as a sole proprietor, you are generally considered to be self-employed.
Here are six key points the IRS would like you to know about self-employment and self- employment taxes:

Self-employment can include work in addition to your regular full-time business activities, such as part-time work you do at home or in addition to your regular job.
If you are self-employed you generally have to pay self-employment tax as well as income tax. Self-employment tax is a Social Security and Medicare tax primarily for individuals who work for themselves. It is similar to the Social Security and Medicare taxes withheld from the pay of most wage earners. You figure self-employment tax using a Form 1040 Schedule SE. Also, you can deduct half of your self-employment tax in figuring your adjusted gross income.
You file an IRS Schedule C, Profit or Loss from Business, or C-EZ, Net Profit from Business, with your Form 1040.
If you are self-employed you may have to make estimated tax payments. This applies even if you also have a full-time or part-time job and your employer withholds taxes from your wages. Estimated tax is the method used to pay tax on income that is not subject to withholding. If you fail to make quarterly payments you may be penalized for underpayment at the end of the tax year.
You can deduct the costs of running your business. These costs are known as business expenses. These are costs you do not have to capitalize or include in the cost of goods sold but can deduct in the current year.
To be deductible, a business expense must be both ordinary and necessary. An ordinary expense is one that is common and accepted in your field of business. A necessary expense is one that is helpful and appropriate for your business. An expense does not have to be indispensable to be considered necessary.

For more information see the Self-employment Tax Center, IRS Publication 334, Tax Guide for Small Business, IRS Publication 535, Business Expenses and Publication 505, Tax Withholding and Estimated Tax, available at www.irs.gov or by calling the IRS forms and publications order line at 800-TAX-FORM (800-829-3676).

For 400+ advertising, marketing, and promotional articles and tips for a successful small business visit www.smalltownmarketing.com

Sell A New Item By Asking Customers To Bring In Their Old One

2012-02-09T07:51:00.000-08:00

Small Town Marketing.Com Tip:

For years car dealers have been using the old "Push, Pull or Drag Sale" to bring in customers. It doesn't matter what condition your item is in, they will take it and give you a discount on a new one.

I have personally seen this work very well with a lot of different businesses. Bring in your old watch and get a discount on a new one. Am I really going to go anywhere else since I've brought my old watch with me?

There are a host of possibilities that lend themselves to this easy and fun promotion. Display the worst looking items to let people know the condition doesn't matter.

Bonus: Donate the products in the best condition to your local church or thrift store and enhance your name around town; plus taking a tax deduction.

For more tips like this see my "How to Build a Business" Directory"

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How To Move Your Business From Beginning To Success by Tom Egelhoff

2012-01-05T10:57:00.000-08:00

A business is never stagnant. It's always moving in one direction or the other. Either toward success or away from it. Today I want to discuss how to keep moving toward success no matter what stage of development your business might be in. You are going to be required to make a variety of business decisions; some will affect the long term life of your business while others will have an immediate impact. Here are some things to look for at each level of your businesses development. READ THE FULL ARTICLE HERE

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How to Prepare a Balance Sheet - Score.Org

2011-12-20T10:13:00.000-08:00

Knowing how to prepare and read a Balance Sheet is critical to the success of every small business. SCORE offers many FREE online seminars on a variety of topics. Here is one that I think you will enjoy taking and will increase your bottom line.

How to Prepare a Balance Sheet - Score.Org - Click Here

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Self-Analysis for Going Into Business by James Plum

2011-12-13T17:35:00.000-08:00

This is an article by my good friend Jim Plumb I hope you like it.

Introduction

Owning a business is the dream of many Americans. Starting that business converts your dream into reality. But, there is a gap between your dream and reality that can only be filled with careful planning. As a business owner, you will need to avoid pitfalls to achieve your goals and to build a profitable business.

This "Checklist for Going into Business" is a guide to help you prepare a comprehensive business plan and determine if your idea is feasible, to identify questions and problems you will face in converting your idea into reality and to prepare for starting your business.

Operating a successful small business will depend on; ... READ THE COMPLETE ARTICLE on business self-analysis HERE!

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Photo Credit
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Merchants may require up to $10 minimum credit card purchase By Dana Dratch

2011-11-24T12:22:00.000-08:00

Here is an article by Dana Dratch that every merchant should be aware of.

Until 2010, most card networks prohibited merchants from setting minimums for credit card transactions, and even set up methods for consumers to turn in violators. The card issuers want cards to be universally accepted like cash, and minimum purchase requirements made them less, well, cashlike.

A coalition of retail and small business organizations asked Congress to change that. Because it costs retailers money to accept cards, small transaction amounts can make accepting cards unprofitable, especially at places such as convenience stores and gas stations, where profit margins are paper-thin. They asked for the option to require a minimum purchase amount for credit card transactions.
They got it. The request received little notice because it was tucked into a bill that became an

Read more: http://www.creditcards.com/credit-card-news/credit-card-minimum-payment-purchases-law-1282.php#ixzz1eehJWrCk
Compare credit cards here - CreditCards.com

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Get Two Books for One LOW PRICE - Hurry Limited Time Offer

2011-11-22T11:27:00.000-08:00

For a limited time, Tom Egelhoff is offering both of his marketing and advertising books for one low price of $14.95. Both books are five star rated on Amazon.

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"How to Market, Advertise and Promote Your Business or Service in a Small Town (218 pgs)" and "The Small Town Advertising Handbook: How to Say More and Spend Less (260pgs)." Both books for only $14.95 delivered immediately to your desktop in PDF format or in softcover by FREE 2 Day Priority Mail.

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A Small Business Tip from Tom Egelhoff: Don't Advertise The Wrong Product

2011-11-16T08:14:00.000-08:00

One of the most common advertising mistakes is creating an ad that tells customers all about who you are instead of what you can do for them. The business gives all sorts of fact about services expecting the customer to digest every word. Take it from me, they won't.

Every feature of your business must have a benefit to your customer. They will only read the history of your company if it benefits them in some way.

It's OK to talk about your experience and qualifications but be sure to tie in how the customer comes out ahead by knowing those things.

Buy "How to Market, Advertise and Promote Your Business or Service In A Small Town" for only $14.95 and get "The Small Town Advertising Handbook: How to Say More and Spend Less." ABSOLUTELY FREE. 100% Money Back Guarantee.

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Buyers Remorse: What It Is And What To Do About It by Tom Egelhoff

2011-11-15T07:36:00.000-08:00

Buyers Remorse. Bitter regret or guilt over a purchase. We've all had it at one time or another. We bought something and then comes that nagging feeling. Did I do the right thing? Should I have gotten the larger one? Smaller one?

For most of us, it's the most natural feeling in the world. You leave a restaurant wishing you had ordered the fish. You talk to someone at work who got a better deal than you on the same product. Price has no bearing on how we feel after the purchase. We can feel just as bad if it's $10.00 or $10,000.00.

One common reason for buyers remorse is ... READ THE COMPLETE ARTICLE on Buyer's Remorse HERE.

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How To Target The First Time Customer by Tom Egelhoff

2011-11-11T15:02:00.000-08:00

Most business experts agree that it costs a business six times more to attract a new customer than it does to retain a current one.

But here in Montana that may not be entirely true. Montana towns have a much higher turnover of residents than most other states. We have a low per capita of income, sparse population and some pretty challenging weather from year to year that cause people to seek opportunity elsewhere.

According to local figures, my hometown of Bozeman turns over in population every seven years. So even if you are the best business around there is a constant influx of new customers up for grabs at any given time. So what's the best way to bring in "new blood?"

There are only two ways a business can bring in new customers. Steal them from your competitor or... READ THE COMPLETE ARTICLE on targeting the first time customer HERE.

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How to Sell Anything to Anybody Face to Face

2011-11-06T13:35:00.000-08:00

One of my early sales jobs was with Victor Business Machines. Every Monday morning I would make 75 cold calls, door to door, trying to find 20 businesses that would let me bring a product in for them to try. The national closing average was five sales.

Seventy-five cold calls produces 20 prospects that produce and average of five sales. It’s a numbers game.

What I learned from this sales model was two things ... READ THE COMPLETE ARTICLE on face-to-face selling HERE.

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How to Market Your Small Business When the Future is Uncertain

2011-11-02T15:19:00.000-07:00

Having lived through recessions for the past 30 years or so, I am always confident that business will find a way to overcome any economic adversity. And, in spite of some recent decisions from our capital, I see nothing that has changed my viewpoint. What I do see, is that this recession is going to last much longer, and be much more damaging to small business, than previous ones, due primarily to ...READ THE COMPLETE ARTICLE on marketing when the future is uncertain... HERE.

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How to Advertise and Market Your Small Business With Employees

2011-11-01T08:54:00.000-07:00

When economic conditions are tough business owners usually make two major mistakes. One, they cut back on advertising and two; they cut back on their workforce. In this article I want to explore the latter. Keeping and marketing with your existing workforce to build a stronger business.

Studies have shown that the average number of people who attend weddings and funerals is ...READ THE COMPLETE ARTICLE on marketing and advertising with employees HERE.

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Word of Mouth Advertising: When times are tough get customers talking

2011-10-31T12:51:00.000-07:00

If you asked 100 small business owners to name the most effective form of advertising almost all would say, “Word-of-Mouth.” One person, referring another person to your business. How valuable is that? The hard part is to find a way to get people talking about your business and telling others about it.

I have a weekly online business show called “Open for Business.” (http://kmmsam.com Saturdays Noon till 2 PM Mountain Time) At the beginning of each month I do a segment called “Recession Busting Businesses.” I ask listeners to call the show and talk about businesses that are doing it right. The ones that are going the extra mile in service, products, quality, procedures and policies. Businesses that are overcoming adversity and putting customers first. READ THE COMPLETE ARTICLE on Word of Mouth Advertising HERE.

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How To Add To The Bottom Line Without Adding To Expenses

2011-10-26T14:34:00.000-07:00

According to Charles Dickens, “It was the best of times; it was the worst of times.” As we sit on the brink of financial chaos customers and business owners alike are wondering which we are facing. Will this test make us stronger in the long run or will it completely change the way business is done?

If you are a regular reader of mine you will remember that in the past I have reported that we’ve survived nine recessions in the past 60 years. And in only two of those recessions did consumers reduce ... READ THE FULL ARTICLE HERE.

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Common Business Mistakes I See Every Day That Make Me Crazy!

2011-10-25T18:06:00.000-07:00

In my 40 plus years of business study I’ve come across some common mistakes that make me scratch my head and really question the decision makers of these companies and industries. These are not just mistakes that are common to my little corner of the world. These are coast-to-coast mistakes that are totally unnecessary, yet happen on a daily basis, and in some instances, cost small businesses thousands of dollars in lost revenue and reduce customer confidence. For some of my favorites... READ THE FULL ARTICLE HERE.

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Don't Sell: Help Customers Buy

2011-10-24T18:46:00.000-07:00

We’ve all heard the old saying, “Nothing happens until someone sells something.” To many people that statement implies some form of coercion or manipulation. Making a customer buy something they probably don’t want or need. A sales training tip I often recommend is … stop selling and help the customer buy. You are not adversaries sitting on opposite sides of the table like lawyers pleading a divorce case. Come around the customer’s side of the table and become a co-buyer.

I don’t have to tell you that we are facing some tough economic challenges ahead in the next few months and you may need to ... READ THE FULL ARTICLE HERE.

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How to Find Your Ideal Customer In Your Local Newspaper

2011-10-24T08:49:00.000-07:00

Customers. They are the life-blood of every business. When economic times are strained the customer pool is somewhat diminished as many rein in their spending. There are still customers out there but the real business winners are those businesses that know where and how to find them. I use the newspaper. Let’s look at each section of the paper to see where the customers are hiding. READ COMPLETE ARTICLE HERE.

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How to Find Profitable Clients for Your Landscaping Business

2011-10-20T13:16:00.000-07:00

There is a process for finding clients in any business and the landscaping business is no exception. Having grown up in the landscaping business I have found that most landscaping businesses fail because they either spend too much time chasing the wrong clients or they undervalue their services.

In this article I want to talk about both. Bringing in more profitable customers and increasing profits from the ones you already have. Both should help your business grow regardless of the economic conditions you find yourself in. Landscaping is a service that someone always needs. Your job is to... READ THE FULL ARTICLE HERE!

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Five Ways to Make Your Small Business More Profitable

2011-10-18T10:06:00.000-07:00

The Beatles used to be known as the “fab four” during their heyday in the early to mid sixties. Four musicians working together that changed the face of music and influenced others for generations to come. Due to today’s shaky economy there are many businesses that are changing their ways of doing business and discarding the tried and true traditions of the past. Here are five ways companies are evolving and increasing their bottom line by throwing out the old rulebook. CLICK HERE TO READ THE FULL ARTICLE.

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How to Know When to Expand Your Business by Tom Egelhoff

2011-10-10T19:52:00.000-07:00

Every business starts expanding with the first day of business. Customers come, inventories increase, and the business begins to grow.

The first major hurdle every business has to conquer is to reach the... READ THE FULL ARTICLE HERE.

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Gibson Guitar Raided: An Interview with a Gibson Representative

2011-09-18T14:15:00.000-07:00

On August 24, 2011, around 8:45 am CDT, agents for the federal government executed four search warrants on Gibson's facilities in Nashville and Memphis and seized several pallets of wood, electronic files and guitars. Gibson had to cease its manufacturing operations and send workers home for the day, while armed agents executed the search warrants. Gibson has fully cooperated with the execution of the search warrants.

On September 17, 2011, I had the pleasure of interviewing Dennis O'Brien, General Manager for the Acoustic Guitar Division of Gibson Musical Instruments, Inc. All design, production and marketing for the acoustic division occurs right here in Bozeman, Montana.

The plant was moved from Nashville to Bozeman in 1986 and has produced acoustic guitars here continuously ever since. It's the largest custom guitar shop in the US.

The company employees about 130 people and makes over 15,000 guitars per year by handcrafted traditional, as well as modern methods. More than half of the plant’s output is exported, where international buyers seek the musical instrument as a rare American-made craft product.

You can hear the complete unedited commercial free interview with Dennis O'Brien of Gibson Guitar by Clicking Here. Note: It's 40 minute interview so it may take a few moments to load.)

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What Is T.O.M.A. Top of Mind Awarness?

2011-09-04T15:58:00.000-07:00

My Chrysler Imperial, aka "The Land Yacht," has a fifteen gallon gas tank. As I stood watching the numerals spin past $20, then $30 and so on, it occurred to me why gas is such a hot topic of the day. What other product do you stand and watch the final tabulation of the bill?

I can of course remember the cost of filling this same tank last year and even the year before because each time I buy it I am focused on those spinning dials.

We all know we are spending more for gas than this same time last year or the year before. However, I do not remember what I paid for health care, yogurt, tires, or cream filled donuts, last year or the year before.

T.O.M.A. = Top of Mind Awareness Read THE COMPLETE ARTICLE HERE...

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Direct Mail: Formulas for Success

2011-08-08T15:42:00.000-07:00

Just in case you didn't know, more money is spent on direct mail advertising than all other forms of advertising combined. Why? Because, when it's done correctly, it works.

How do you do it correctly, you ask? For direct mail to be effective, three things have to happen. First, you need a ... READ THE FULL ARTICLE about using direct mail HERE.

Buy "How to Market, Advertise and Promote Your Business or Service In A Small Town" for only $14.95 and get "The Small Town Advertising Handbook: How to Say More and Spend Less." ABSOLUTELY FREE. 100% Money Back Guarantee.

Both Books ONLY $14.95 PDF or Free Priority Mail Shipping.

Check out Tom's Web Site for 400 pages with more articles and small business tips.

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