Meet Puerto Rico! Puerto Rico Convention Bureau

Say hello to the Puerto Rico Convention Bureau (PRCB), somewhat similar to PR Dive In 101, the bureau's website shows the opportunities the caribbean island of Puerto Rico offers for local and international corporations interested in having and hosting their events and/or conventions on the island.

Once you enter their interactive website, you are mesmerized with the colorful pictures and all the options you can choose from. First, you have the "Planners" option, here you can start to plan, manage, or promote your event in Puerto Rico. Then you have the "Members" option, where you can grow your network or grow your business by joining the PRCB. Next, is the "Media" option, where you can informed on the latest news from the premier meetings and convention destinations in the Americas. And lastly, you have the "Puerto Rico" and "Convention Center" options. Here you can explore and learn all about the destination and acquire all the necessary information of the largest most technologically advanced convention center in the caribbean.

Joining forces with the PRCB would have a great outcome for both the bureau and PR Dive In 101. This partnership will encourage both local and international corporations to consider Puerto Rico as one of their firsts options when looking for a venue. This is a great way to increase the island's tourism numbers, in addition to helping with the economic revenue in the island.

Showcasing all the opportunities and all the options corporations have in order to create their corporate events and/or conventions, is only a small part of what the bureau really does. On their website costumers can plan and manage their events. Definitely, we want to create the same vibe and recognition as PRCB. This is why doing a partnership or membership with them will help get our brand and name out there, in our desired industry.

It is nice to know that others have the same interest in showcasing what our native land has to offer. Remember to consider Puerto Rico as a venue for your next corporate event or convention.

For more information visit their website. Puerto Rico Convention Bureau

Official PRCB website

References: 
http://www.meetpuertorico.com/

Crazy Money Making Ideas

Sometimes new money making ideas are immediately usable. However, sometimes you just have to let your imagination run wild and be impractical. This is a way to get that creativity going, and no matter how crazy the ideas may seem at first, there is usually a way to bring them down to earth, as in this first example.

Rental Cabins In The Air

I started with a crazy thought: "What if people could rent a cabin up in the sky for the weekend?" Right away my mind tries to make sense of the idea, and because the over-all goal is to have profitable innovations, it looks for ways to make it into a money making idea. I first imagined cabins which are suspended under large hot-air or helium balloons.

As much fun as it might be, this didn't seem very practical. When I explored the idea further, though, I wondered if existing balloon-ride businesses could tap into other markets. If, for example, the gondolas were outfitted properly, and the balloons tethered, so they could be allowed to float two thousand feet overhead, would meditators then pay for a peaceful meditation retreat in the sky?

Another thought came to mind. Balloons could be high in the air, but easily cranked back in on a line. This might be simpler and cheaper than traditional rides, which involve chase vehicles and unpredictable landings. Perhaps this could be another way to make money with the balloons, charging a lower rate for simple up and down rides, and so getting new customers that couldn't afford the usual rides.

This is how a crazy idea comes back to earth. Perhaps even the "weekend cabin in the sky" idea could someday be a money making idea, but if not, that's okay. The point here is to get the creative flow going, and then find more practical ways to channel the output.

More Crazy Money Making Ideas

The following are pure imagination. I leave it to you to find a way to make these ones into potential money making ideas. Good luck and have fun!

- Put seats on the wings of an airplane and sell rides to thrill seekers.

- Sell advertising scratched out on the face of the moon.

- Rent out the animals at the zoo.

- Start an underwater school.

- Make a roller coaster course people pay to take their personal cars on.

- Sell pets genetically engineered to die young, for those who hate long-term commitments.

- Rent out children to undecided prospective parents.

- Have marriage insurance policies that cover the cost of a divorce, just in case.

- Have a swimming pool restaurant; diners sit in floating seats and eat off floating plates.

Scan the list and stop on any of the crazy ideas that catch your attention. Chances are good that you can find some way to transform it into a more practical idea, and that is the point. This exercise in imagination may be fun, but it is also a profitable technique for generating money making ideas.

Start the Movement!

Difficult…but Not Impossible: Start the movement!

The development of IN Entertainment Co.

To develop a brand, a company, service or product has its obstacles but certainly it’s not impossible. This is the case of IN Entertainment Co. designed to be the first specialized event/convention company in Puerto Rico.  This is an innovative idea that has a very promising outcome. Knowing the obstacles and the economic depression the world is facing, anyone would back down on following their dreams or hold back on their plans, but fortunately with a good idea, a good business plan, and a determined group of followers, maybe NOW is the moment. This is what Kimberly Fowler, CEO & founder of Yas Fitness Centers, tell us about overcoming the obstacles when it comes to opening a new business. Her most important step is the first one, taking the "Leap of Faith" in your idea and product. Now, how can you develop your idea into a success? Easy...starting a movement!

Let’s use Derek Sirves talk, How to Start a Movement presented at Ted.com. Here with the help of surprising footage he explains how a movement begins and all the factors that must be taken into consideration in order for it to be successful. With his unusual video presentation and comedic approach he gets his point across in a very entertaining way.

Get to know Derek!

Derek Sirves is the creator of a new project called MuckWork, where he wants “to lessen the burden (and boredom) of creative people”. A professional musician since 1987, he started CD Baby by accident in 1998 when he was selling his own CD on his website, and friends asked if he could sell theirs, too. CD Baby was the largest seller of independent music on the web, with over $100M in sales for over 150,000 musician clients. In 2008, Sivers sold CD Baby to focus on his new ventures to benefit musicians, including his new company, MuckWork, where teams of efficient assistants help musicians do their "uncreative dirty work."

Applying it to your idea:

As we learned with the Derek’s speech, a movement is easy to create. Remember that a leader takes the leap of faith, but without the followers the idea crumbles.  This is a great way to approach your idea. Take more time, explore your market and make sure you brand yourself and your product, idea or service in a way people support and follow. 

In conclusion, IN Entertainment Co. here we come! Remember every path has its obstacles, how you overcome them is the real key to success.

References:

Video: How to start a movement by: Derek Sirves http://www.ted.com/talks/derek_sivers_how_to_start_a_movement.html

Sources:

http://finance.yahoo.com/video/companynews-18928726/common-obstacles-facing-new-business-owners-23094884

http://samvak.tripod.com/nm01.html

http://www.ted.com/speakers/derek_sivers.html

Business Start-up Costs

If you are considering starting your own business, then you have no doubt considered the investment required for various business start-up costs. The first thing you need to do is find a market that your business can be successful in. Next you must look at approximately how much it will cost you in just basic business start-up costs; business licenses, lawyer consult fees and form preparation fees, accountant fees/accounting programs, inventory costs, business insurance, leases, and utilities are just a few of the standard traditional business start-up costs. You must also consider how you are going to support yourself and your family while you venture takes off; this could be at least two to three months, and you want to make sure you can pay your mortgage, all your bills, feed your kids, and have a little extra left over for incidentals, in addition to business start-up costs.

If you choose to not have a physical location for your business, you may want to consider offering your goods and services via a website or mail order catalog. This is a great way to reach a large audience all at once, but business start-up costs associated with this mode of doing business can be expensive as well. By the time you pay someone to create your website, host it, register your domain name, and start a merchant account, you have made quite an expenditure, unless of course you are capable of building your own website, which many people are. Yahoo! offers web hosting, domain name registration, business email, and store front options for a very reasonable price worth checking out. This is a great way to save on some of those business start-up costs that could otherwise break the bank.

The traditional way that business has been conducted in this country has changed dramatically since the advent of the World Wide Web, opening the door for a number of new ways to conduct business. You no longer have to have a physical storefront address to sell your goods or services, a rather archaic point of view. More and more people are buying goods and services on the internet, which is a great place to feature your business while keeping your business start up costs at a minimum. You don’t need to lease that 900 square foot shop for $2800 a month to sell what you can sell just as easily with a website and a little marketing campaign. Business start-up costs do not have to be astronomical, in fact, they can be quite the opposite. You can visit a number of online sources that offer an abundance of information on business start-ups costs and links to essential sites that can help you get your business up and running!

Space Heater Business.

Space heater is a one of most important tools to endure coldness in winter. A space heater is a self contained device for heating an enclosed area. Space heating is generally employed to warm a small room in the house, and is usually held in contrast with central heating, which warms many connected spaces at once. The reason people choose space heater is because the cost of space heater is lower than the central heating.  Space heater are usually portable or wall-mounted, and may use natural gas or propane as its energy source, but are most commonly powered by electric.

Space heater can be divided into two categories where one of them is that transfer their heat primarily by convection and another one is transfer the heat by radiation. The convection heaters, heating elements either warm the air directly or heat oil or another filler, which in turn transfers heat to the air. The example of convection heater is Big buddy heater. The air then warms the objects and people in the space. Convective heaters are suitable for providing constant, diffuse heat in well-insulated rooms. Oil heaters warm up slowly but do not reach dangerous surface temperatures while wire-element heaters that fan assisted can be reach desire temperature and can warm up the air more quickly. The example of radiation heater are Dimplex compact electric stove and Dimplex electric fireplace insert.

The Radiative heaters or halogen heaters usually comprise tungsten filaments in heat-resistant quartz envelopes, mounted in front of a metal reflector in a plastic case. They operate much like halogen light-bulbs, but radiate their energy primarily in the infrared spectrum. They convert up to 86% of their input power to radiant energy, losing the remainder to conductive and convective heat. The main advantage of radiative heaters is that the radiation they produce is absorbed directly by clothing and skin, without first heating the air in the space. This makes them suitable for warming people in poorly-insulated rooms, or even outdoors like a hall or garage.

The space heater that powered by electricity usually has ceramic or Nichrome heating elements, and may be fan-forced with a blower or a squirrel-cage fan to improve heat transfer. These often employ efficient heat pumps, which use reverse-cycle air conditioning to transfer heat to the inside from the outside. The other type of energy source is natural gas such as propane, butane, or liquefied petroleum gas. They may be convective or radiative, in the latter case by heating a matrix which then emits infra-red radiation. Gas heaters burn their fuel in air and produce carbon dioxide. In well-insulated rooms the oxygen concentration may drop and carbon monoxide may accumulate to toxic levels due to incomplete combustion. For this reason gas
heaters should be used only in rooms with adequate ventilation. But new technologies such as Big buddy heater and Portable Kerosene Heater have an ability to control the carbon monoxide level in the room.

As conclusion the space heater business should consider the type of space heater and its operating manual. This is important for the seller to suggest the most suitable space heater for their customer and provide the safety guide to operate the space heater. The knowledge from the seller will increase the customer trust and this will turn them into loyal customer. Beside that the basic technical skill about the space heater is really worth to help the customer if they have a problem with their

space heater.

Therefore I suggest 4 most compliance space heater:

Dimplex compact electric stove
Dimplex electric fireplace insert
Big buddy heater
Portable Kerosene Heater

Benchmarking: Avoid comparing yourself to the industry average.

Most organizations conduct employee surveys of various types either annually, every two years or sporadically. Some organizations use the data from the employee survey to affect real change that contributes to their ongoing success. There are organizations who like to focus on comparing their survey scores to the scores of other organizations and there are the organizations that do little with their survey results. The focus of this article is to discuss the middle group: those organizations that like to focus on and compare their employee survey scores against the average scores of all the organizations that are in a third party database.

Many surveying companies sell their services on the basis that they will be able to compare the scores of the one company against the average score of all of the organizations in their database. Comparing yourself to someone else is enticing. We have been exposed to comparative data from the first day we stepped inside a school. Throughout our primary and secondary education we were compared to the rest and typically this comparison was against the “class average”. We knew who the smartest and the dumbest kids were but it was the average that counted. Was I above or below the class average? That was important in terms of dealing with our own self esteem and dealing with our parents. This was not the case for all students. The parents of some students demanded top marks and that is exactly what those few students worked towards. They had to be the best. They had to have the top marks.

This was all very interesting but in the end it was irrelevant. When it came time to apply to university a new standard had to be reached. University entrance requirements varied but one thing was clear. Average marks were not good enough. In fact being above average in many instances was not good enough. University entrance requirements were demanding and one had to strive for a new and much higher standard than “average”. The profile or status of a university that you were interested in attending, determined the level of academic excellence you had to achieve.

It is puzzling to see how many organizations fall into the trap of placing a great deal of emphasis on comparing their surveys scores to a database that represents the average of a number of companies. These comparisons are sought not only for the overall scores of the employee survey, but for every question in the survey.

It would appear that a fundamental question needs to be asked by every organization-why are we conducting an employee survey in the first place and what are we going to do with the results. 

From a strategic perspective it would seem reasonable to think that an organization would wish at the very least, to demonstrate that the survey is helping the organization to achieve their strategic goals. In other words, they are conducting the employee survey as a way of obtaining employee information that can be used to improve for example, workplace practices in order to lift their employees’ working experience. In turn this will lift the customer experience and profits.

However, if this or some other strategic purpose is not being fulfilled by the employee survey than the value of conducting the survey is questionable. One could argue that comparing oneself to other organizations is in fact a legitimate strategic objective. It is worth knowing how you compare to the best. How does your stock performance compare to the best in your business sector-not the average of all the companies in your business sector but only the best? How do your employee survey scores compare to the best in your business sector-not the average of all the businesses in the database but only the best? 

Comparing oneself to the very best is legitimate especially if the best sets a benchmark that you adopt as your own. But to compare oneself to the average serves no useful purpose. If a senior management group knows that their scores are better than the average of all the companies in a database, strategically of what use is this information. Perhaps it may give them a sense of pride knowing that they are better than the average. But it may also lull them into a false sense of confidence. The question that should be top of mind is “are we really as good as we can be and are we really achieving a level of excellence that will sustain us over the long term.”

For example, employee turnover in the retail sector is fairly high. Most retailers take it for granted. Entec Corporation has been working with Gap Inc. Canada for several years. Gap offers excellent training programs especially for their associate managers and store managers. In 1999, Gap was routinely being raided by other retailers and their annual turnover rate for store managers was 39% and for associate managers it was 48%. This was costing Gap hundreds of thousands of dollars each year in recruiting and training. With over 200 stores and 10,000 employees across Canada, these costs were unacceptable. Entec Corporation was engaged by Gap to conduct an Organizational Health Survey. Gap acted upon the recommendations in the survey and was able to reduce manager turnover rates to 13% in one year.

But these lower turnover rates were accompanied by real business gains. For example, secret shopper scores increased by 5% after only eight months and sales in Canada over the last few years have improved to a level where the Canadian operation moved from being about in the middle to becoming one of the most profitable divisions in the world. The survey results were linked directly to the bottom line.

If Gap accepted “the trap of comparing themselves to the average” and accepted the conventional wisdom that “this is the average turnover rate in retail so we are OK”, they would not have saved thousands of dollars each year in training and recruiting. More importantly they would not have experienced the benefits that reduced turnover brought them; namely preserving human capital of highly trained managers that helped to grow Gap’s business. This last point is typically overlooked. The impact of a reduction in turnover of well trained employees to the bottom line of a company is considerably higher than the cost savings achieved from reducing recruiting and training.

Several points need to be considered when embarking on an employee survey: 
1.    Develop clear strategic objectives
2.    Measure towards those objectives
3.    Inform your employees of the survey scores
4.    Follow up with positive implementation
5.    If you must compare yourself to others, compare yourself only to the best

If this process is not followed the organization can expect:

1.    Employee participation rates in the survey to be low (30% or lower)
2.    Rising employee cynicism with the organization (why bother if the activity of completing an employee survey does not make a difference) 
3.    Employees become disengaged from the organization
4.    The organization loses an opportunity to make significant strides in performance  

Conclusion

The trap an organization falls into when they become focused on benchmarking themselves against others is that they lose sight of what is really important-what is it that we are doing well and where do we need to improve in order to create an even better organization than the one we already have. If you must compare yourself to others, compare yourself only to the best and do not get side tracked.

Cash Flow Planning for Solo Professionals

You’ve heard it a million times – cash flow can make or break a business.  Lack of cash flow planning is the reason why many businesses fail.  In fact, many PROFITABLE businesses fail because of cash flow issues.  Without adequate cash flow, you can’t pay your bills and you can’t make plans for your business. 

So… what is cash flow planning?  Cash flow planning is projecting your future cash inflows from sales, services, and loans, and comparing them to your future cash flow needs (suppliers, salaries/wages, loan payments, taxes, etc.).  The difference between the two is your net cash flow.

Why is cash flow planning so important?  Cash flow planning can help you identify problems down the road, and fix them before they occur.  Cash flow planning can also help you make decisions such as should I attend that conference I’ve wanted to attend, should I buy the new computer I’ve been wanting, or do I need to work extra hard this month to avoid a cash flow deficiency next month? 

The first step in planning your cash flow is knowing where you spend your money!  Solo entrepreneurs need to have a good grip on both their personal and business spending, as most solo entrepreneurs rely on their business income to meet personal finance goals (i.e., pay the bills!).  So, you should track both your personal and your business spending, although I recommend that you keep them separate (that’s a topic all by itself).

What’s the best way to track your spending?  You can use pen & paper, spreadsheets or a software program.  The best method for you is the method that you will actually use on a regular basis.

You should project your spending for at least the next 12 months so that you include annual and other periodic expenses.  If you are experiencing a cash flow crisis, you should track & project your cash flow on a weekly basis, instead of monthly. 

If you are an existing business, you can project your cash flow for the next year by reviewing your expenses for last year.  If you are a new business, you will need to estimate your start up costs in addition to regular operating expenses. 

Start up costs include inventory, legal expenses, advertising, licenses & permits, supplies, and many more costs that you may not have thought of.  To research startup costs you should contact your local Small Business Development Center, contact a SCORE counselor, join groups of similar business owners, and read as many books or articles you can find on the subject.

To improve your cash flow, you should:

1. Complete the first 3 steps.  You have to understand cash flow planning, track your cash flow, and project your future spending needs before you can improve your cash flow.
 
2. Create best and worst case scenarios and create appropriate responses to both scenarios.  For example, if your best case scenario is to increase sales by 50%, how will you use the profits?  Will you put the profits back into the company by investing in new equipment, training, etc.?  If your worst case scenario is a drop in sales by 50%, how will you continue to cover your monthly expenses?  By planning for the best and worst case scenarios, you’ll be ready for any situation.

3. When estimating your future income, realize that some people will pay late, and account for that fact in your projection.

4. Charge what you’re worth.  Many businesses, especially service professionals, under-charge when they are first starting out.  This is a great way to go out of business.  Make sure you are charging what you’re worth, and remember you’re in business to make money, not to give your expertise away for free.

5. Watch your business spending.  Focus on the value the item brings to your business, and avoid lavish spending (i.e., do you really need the fastest, newest computer available?).

6. Don’t hire until necessary.  Consider using virtual assistants or temporary employees before hiring permanent employees.

7. Give incentives for early payment for products and services.  On the flip side, chase down invoices the minute they’re late.  Charge interest or late fees to encourage timely payments.

8. Update your cash flow regularly.  Your cash flow plan will change frequently as your business grows.  You may want to update your cash flow plan weekly when you first get started, then switch to monthly once you’ve got a good handle on your cash flow.

Remember - whether you are a new or growing business, your cash flow projection can make the difference between success and failure.

Q&A with the Experts

A project in business is a collaborative enterprise, frequently involving research or design, carefully planned to achieve a particular aim. Whether your business includes selling a product or providing a service projects are everyday tasks. The event/convention production industry obviously is not the exception, and PR 101 had the opportunity to discuss very important points in the development of conventions with a talented local Puerto Rican PR firm; Eferrer Public Relations & Integrated Communications.

Eferrer is a boutique firm specializing in Public Relations and Integrated Marketing Communications, established in Puerto Rico.

“We believe success strives in being strategically creative. Offering our clients the perfect marketing mix based on a continuous process of analyzing necessities, opportunities and weaknesses of our clients, keep us on the competitive edge”

                                      -Eferrer Public Relations & Integrated Communications

PR 101 had the opportunity to have a Q&A with the company’s founder & CEO, Edaliz Ferrer. Here she gave some pointers on project (in this case Convention/Event planning) development, among other things.

PR 101: What are the main starting steps to create a convention?

Ferrer: The main points taken into consideration at the starting point in the creation of a project are the objectives, and the purpose of the project. You also have to take into consideration the audience that you want to address, the date, very important the budget, and the history; has the event been done before or is it new.

PR 101:  What are the key factors to a successful event/convention?

Ferrer: Definitely, I believe there are 5 key factors to a successful event. First would be the planning, this includes the brainstorming process and the determination of the roles within the work group. Another key factor are teamwork, and your ability of budgeting. Last but certainly not least, it’s a tie tied between time and sponsors, both equally important.

PR 101: Which are some of the common objectives for a prosperous convention?

Ferer: To be able to meet every objective established for any event is the best to determine how successful or unsuccessful the event truly was. This is why at the time of choosing the most common and most important objectives of a convention production I chose the following:

·      Earn triple of the investment

·      Be able to do the event continuously, at least once a year.

PR 101: Working on a PR firm, what is the most common request from clients that are looking for new venues to do conventions or events?

Ferrer: Every client is different. They have different needs, ideas, suggestions and requests. I can say that the most important qualities they search within new venues are the venue’s capacity, its cost and its accessibility.  

PR 101: Which are some of the common mistakes event coordinators or producers make, creating events?

Ferrer: Wow, at the time of making an event you have a great responsibility of meeting every client’s demands and request but sometimes we do have mishaps. No need to say that sometimes its trial and error what helps us get better through time. Some of the main mistakes are concentrating on the assembly, equipment, sound, and lights, and not on the content of the event. 

PR 101: What tips can you suggest for creating a one of a kind event?

Ferrer: A one-of-a kind event is not very difficult; you must have a good and creative name, an innovative idea, new opportunities to expand the market within sponsors and knowing how to target your market.

PR 101: Why is Puerto Rico is a good alternative for an event/convention?

Ferrer: Puerto Rico is a great destination either to do tourism or to create an event or convention. Considering the year round nice climate, quality service, a wide range of activities for all ages and preferences.  In addition you have the option of incorporating water sports, and top class nightlife. And remember Puerto Rico is part of the USA, which means that if you are American you don’t need a visa or passport to come and visit.  

PR 101: What venue in Puerto Rico would be a good choice to do a company convention?

Ferrer: The best one would be the Predo Roselló Convention Center.*

PR 101: What does Eferrer Public Relations & integrated Communications have to offer in the Event/ Expo/ Convention department? 

Ferrer: At Eferrer Public Relations & Integrated Communications we offer and guarantee the best production and content you can wish for.  Not only a one of a kind experience but attention to detail like no other. In addition we provide media exposition free from cost. In conclusion, we offer an unforgettable experience.

PR 101: Does Puerto Rico really does it better? Why?

Ferrer: OF COURSE! We offer great service, first-rate tourism; some of the finest hotels from 2 to 5 stars, plus affordable air fees and accommodations can be found easily.  You can have the best of worlds, Spain’s exotic history with hip modern cities and fine entertainment. Plus we speak English!

From left to right: Camila Calderon, Edaliz Ferrer, Diana Otero & Ishaa Lopez. Staff at Eferrer  Public Relations &Integrated Communications

So, consider Puerto Rico as a venue for your next event/convention. You won’t regret it. Special thanks to everybody on Eferrer Public Relations & Integrated Communications, especially Ms. Edaliz Ferrer for taking some time off her hectic schedule and sharing some of her knowledge with us. 

For more information on Eferrer PR Firm, add them on Facebook or  follow them on Twitter. 

The T Factor

The T (Team) Factor...
The importance of a Team in the creation of an event and/or convention. 

The task of making a successful event and/or convention, requires a large amount of planification, budget, brainstorming and the right team to make an exceptional activity. Like in any project or business, the people or team used to complete a certain task is the number one factor or element, to ultimately develop and complete victoriously an event.

During the process of creating an event certain steps involving your team and other areas, have to be considered.

• Estimate the number of people who will be attending your event. 
• List what items would be needed for the venue.
• *Make a list of the number of people required to assist in the running of the event. This includes your personal team and other required personnel such as, camera operators, lighting operators, sound controllers, car park assistants, caterers, etc. 
• Split your event into workable categories. Make sure you assigned a team member to take charge of each category. 
• Make sure the overall event coordinator has no other task than coordination.
• Assigned a suitable person to act as a master of ceremonies. (This person is also considered part of your team) 
• Make sure your program is structured so that the attendees have time to eat, bathroom breaks and occasional breaks. 
• Assign a team member to be in charge of making sure local by laws are met and making sure the insurance is in place. 
• Assign a host. 
• Make sure you have appointed personnel to deal with unwanted situations. This includes assistants. 

This is a guideline to some of the most important team members and roles that you need in order to create an event/convention. Although, these check points depend on the event, the number of attendees, objectives, budget, among others. Positively, the team in charge of creating an event is CRUCIAL. However, making sure the communication, coordination, roles, balance of contributions, mutual support, effort and cohesion, appointed by the boss or project manager, are going to be the key factors in determining the quality and success of your event.


Conclusion: The TEAM Factor is the key factor to the success of your event and/or convention. Make sure the team you choose meets with all the requirements and necessities of the task. This way the event will result in SUCCESS. Teamwork is the word of the day!

Importance of Teamwork:

Sources: 
Video: http://www.youtube.com/watch?v=mKucprXVGMU
Information:
http://www.feministcampus.org/fmla/program-materials/pdf/6-- EventPlanning%20thru%20Public%20Speaking.pdf
http://www.wikihow.com/Organise-a-Convention

Advertising Secrets

When I first got into the online advertising business, I was looking for the magical combination that would put my website into the top search engine rankings, catapult me to the forefront of the minds or individuals looking to buy my product, and generally make me rich beyond my wildest dreams!

After succeeding in the business for this long, I'm able to look back on my old self with this kind of thinking and shake my head.

If you're reading this article and you've come this far, you're probably looking for the magic answer yourself. You've probably read a few dozen or a few hundred articles just like this about pay-per-click advertising, maximizing return on investment, keyword stuffing, black-hat seo tactics, text-link banner exchanges, and the list goes on.

Well, I'm here to tell you that I have the one be all end all answer and I'm sharing it with the world!

The truth is that there is no magic secret to online advertising. No one method will generate the largest amount of income/exposure for every website or business imaginable - it's all a matter of trial and error, time and talent.

That's a pretty weak answer, I know. It would have been much cooler for me to tell you that buying tiny classified ads in your local paper was the key to success and riches. Well, I'm sorry. For the few of you that have been down this road before and are starting to get it, you'll hear a ring of truth in my words. The sooner you stop looking for a quick fix to make your message stick, the better.

For what it's worth, these are my thoughts.

1) The internet has only been alive for a few short years, and in that time it has changed dramatically many times over. Remember in 1995 when everyone first discovered the cool little animated envelope .gif that you would click on to send them email? Where was your online bill-pay, instant messaging, and dynamically generated page content then? And only a few short years later you can see how far we've come and use that as a measure for how far we can go.

The point is that the internet, like other forms of media, is a rapidly evolving monster. What works for online advertisers today might be completely ineffectual only a few months from now. That's why the best advertisers are constantly researching and creating their own unique marketing strategies. The trick is to find out what works for you, and to make sure that you revisit it from time to time to tune it up as the market changes.

2) You Have to Spend Money to Make Money.  It's a tired line, but it's that way because everyone says it. Don't be afraid to add fuel to your advertising fire and take it to another level. Try investing (note that I said investing and not spending) five, ten, or fifty thousand dollars in advertising. If you don't jump out a window the first time you do it, you may walk away with a big smile and a little pocket money!

The hard part about investing a big chunk of money is coming up with it in the first place. If you already have $50,000 laying around for advertising and are just looking for a place to put it, give me a call. If you're not that lucky, try looking at the Small Business Administration for ideas on how to get a small business loan.

If you don't want to go farther than your mailbox, examine some of those credit checks your bank keeps sending you in the mail. A lot of people take advantage of their fairly reasonable interest rates to fund projects.

3) Presentation is Key. You'll find that excellent writing skills and good marketing go hand in hand. As you improve on one, the other is bound to follow. Knowing how to write, and how to write well will give you an extraordinary advantage of the majority of individuals vying for your customers' attention. I don't know about you, but I get a lot of spam for people wanting to sell me their "good, cheap, A+ #1 $$$ rolex watch, discount Viagra, H0t s1utz, etc."

Needless to say, I have never purchased anything from them and most likely, neither have you. If you have, please drop me a line and let me know how it worked out. I'm always wondering how many of those are a scam.

The emails and circulars that I do purchase from come from GoDaddy, buy.com, Google and a host of other professional companies that take a few minutes to earn my trust with good punctuation, grammar, and quality content.

If you don't have a talent for writing (and you know who you are) you have two choices:

Get better - easier said than done. Like most things, writing is one part talent and nine parts hard work. Take some classes, do peer editing suggestions, or send it to me look over (first ten-thousand submissions only).

Or, get someone else to do it - leaving more time for you at the helm. I like this option not only because it's a time saver for me, but also because the work generally comes out better than anything I could have done. This article is an excellent example. I provided a detailed outline, some good anecdotes, and the strategies above and the copywriters at danifer.com did the rest. I made a deal with them to write the article for $149 and we share the syndication rights. Not bad for half an hour's work.

If you can't afford to hire a pro, be courteous to yourself and your audience by simply re-reading your work, running a spell check, and letting your wife/husband/friend/co-worker look it over. You'd be surprised at how many things invisible to you will stand out to a fresh set of eyes.

10 Ways To Reduce Tax Burden For Your Small Business

Everyone worries about taxes and looks for ways and means of reducing the tax burden. When you have a small business of your own you must up date your knowledge of tax laws that pertain to “small businesses.” As a business owner you must understand clearly about accounting systems and tax planning. Sit down with your accountant and plan on ways of maintaining business expenses, filing receipts, planning on “tax saving” investments, and a strategy for running  the business in the most beneficial way.

Did you know that:

1.    According to law you can reduce your tax liability by hiring family members to carry out work in your business. Pay your children and spouse to perform assigned duties. This way you can shift from higher tax rates to lower ones.
 
2.    Consider hiring independent contractors instead of employees. You will save on payroll taxes. However ensure that you meet the IRS’s criteria.

3.    Think about “deferring income” postpone receiving money to January instead of December. This means that payments received will be up for “tax” calculations a year away.  However ask your accountant’s advice as the benefits are dependant on profit and losses for the year and your corporate legal structure.

4.    Take advantage of tax deductions allowed for charitable donations. Make donations in November or December instead of January so that you can include the donations for tax deductions in the current year.

5.    Maximize your expenditure on equipment and office supplies. Buy in advance for a quarter and use the tax deductions allowed in the current fiscal year.

6.    Include expenses of business related travel in the current year.

7.    Pay all bills due before the end of the year. Payment to cell services, rent, insurance, and utilities related to the business can be included for accounting and applicable tax waivers.

8.    Plan a retirement plan and make payments before the end of the year. This will reduce your income for the year and proportionately the tax due. Be sure to check on the limits. Plan a feasible and beneficial strategy with your accountant.

9.      Be sure to deduct from your taxable income money paid to licensing fees, businesses taxes, and annual memberships to businesses related organizations. Be sure to deduct interest paid on borrowings for running the business and related fees. Insurance premiums paid to insure the business office and machinery are eligible for tax deductions. Make a list of your memberships and check which ones are eligible for tax deductions.

10.        Check whether you have deducted management and administration expenses as well as money spent on maintenance and repairs of equipment.

Decide whether a cash accounting system or accrual one will benefit your business. The tax deductions are different depending on the system you use. When setting up your small business take the advice of a tax and accounting professional as to which accounting system would be most suitable.

How to Write a Business Plan

There are many types of symbols. Money from investors, banks or financial organizations is one such kind of symbols.

A successful Business Plan (=a successful manipulation of symbols) is one which brings in its wake the receipt of credits (money, another kind of symbol). What are the rules of manipulating symbols? In our example, what are the properties of a successful Business Plan?

(1) That it is closely linked to reality. The symbol system must map out reality in an isomorphic manner. We must be able to identify reality the minute we see the symbols arranged.

If we react to a Business Plan with incredulity ("It is too good to be true" or "some of the assumptions are non realistic") - then this condition is not met and the Business Plan is a failure.

(2) That it rearranges old, familiar data into new, emergent, patterns.

The symbol manipulation must bring to the world some contribution to the sphere of knowledge (very much as a doctoral dissertation should).

When faced with a Business Plan, for instance, we must respond with a modicum of awe and fascination ("That's right! - I never thought of it" or "(arranged) This way it makes sense").

(3) That all the symbols are internally consistent. The demand of external consistency (compatibility with the real world, a realistic representation system) was stipulated above. This is a different one: all symbols must live in peace with one another, the system must be coherent.

In the example of the Business Plan:

Reactions such as: "This assumption / number/ projection defies or contradicts the other" indicate the lack of internal consistency and the certain failure to obtain money (=to manipulate the corresponding symbols).

(4) Another demand is transparency: all the information should be available at any given time. When the symbol system is opaque - when data are missing, or, worse, hidden - the manipulation will fail.

In our example: if the applicant refuses to denude himself, to expose his most intimate parts, his vulnerabilities as well as his strong points - then he is not likely to get financing. The accounting system in Macedonia - albeit gradually revised - is a prime example of concealment in a place where exposition should have prevailed.

(5) The fifth requirement is universality. Symbol systems are species of languages. The language should be understood by all - in an unambiguous manner. A common terminology, a dictionary, should be available to both manipulator and manipulated.

Clear signs of the failure of a Business Plan to manipulate would be remarks like: "Why is he using this strange method for calculation?", "Why did he fail to calculate the cost of financing?" and even: "What does this term mean and what does he mean by using it?"

(6) The symbol system must be comprehensive. It cannot exclude certain symbols arbitrarily. It cannot ignore the existence of competing meanings, double entendres, ambiguities. It must engulf all possible interpretations and absolutely ALL the symbols available to the system.

Let us return to the Business Plan:

A Business Plan must incorporate all the data available - and all the known techniques to process them. It can safely establish a hierarchy of priorities and of preferences - but it must present all the possibilities and only then make a selection while giving good reasons for doing so.

(7) The symbol system must have links to other, relevant, symbol systems. These links can be both formal and informal (implied, by way of mental association, or by way of explicit reference or incorporation).

Coming back to the Business Plan:

There is no point in devising a Business Plan which will ignore geopolitical macro-economic and marketing contexts. Is the region safe for investments?

What are the prevailing laws and regulations in the territory and how likely are they to be changed? What is the competition and how can it be neutralized or co - opted? These are all external variables, external symbol systems. Some of them are closely and formally linked to the business at hand (Laws, customs tariffs, taxes, for instance). Some are informally linked to it: substitute products, emerging technologies, ethical and environmental considerations. The Business Plan is supposed to resonate within the mind of the reader and to elicit the reaction: "How very true!!!"

(8) The symbol system must have a discernible hierarchy. There are - and have been - efforts to invent and to use non-hierarchical symbol systems. They all failed and resulted in the establishment of a formal, or an informal, hierarchy. The professional term is "Utility Functions". This is not a theoretical demand. Utility functions dictate most of the investment decisions in today's complex financial markets.

The author(s) of the Business Plan must clearly state what he wants and what he wants most, what is an absolute sine qua non and what would be nice to have. He must fix and detail his preferences, priorities, needs and requirements. If he were to attach equal weight to all the parts of the Business Plan, his message will confuse those who are trying to decode it and they will deny his application.

(9) The symbol system must be seen to serve a (useful) purpose and it must demonstrate an effort at being successful. It must, therefore, be direct, understandable, clear and it must contain lists of demands and wishes (all of them prioritized, as we have mentioned).

When a computer faces a few tasks simultaneously - it prioritizes them and allocates its resources in strict compliance with this list of priorities.

A computer is the physical embodiment of a symbol system - and so is a bank doling out credit. The same principles apply to the human organism.

All natural (and most human) systems are goal-oriented.

(10) The last - but by no means the least - requirement is that the symbol system must be interfaced with human beings. There is not much point in a having a computer without a screen, or a bank without clients, or a Business Plan without someone to review it. We must always - when manipulating symbol systems - bear in mind the "end user" and be "user friendly" to him. There is no such thing as a bank, a firm, or even a country. At the end of the line, there are humans, like me and you.

To manipulate them into providing credits, we must motivate them into doing so. We must appeal to their emotions and senses: our symbol system (=presentation, Business Plan) must be aesthetic, powerful, convincing, appealing, resonating, fascinating, interesting. All these are irrational (or, at least, non-cognitive) reactions.

We must appeal to their cognition. Our symbol system must be rational, logical, hierarchical, not far fetched, true, consistent, internally and externally. All this must lead to motor motivation: the hand that signs the check given to us should not shake.

THE PROBLEM, THEREFORE, IS NOT WHERE TO GO, NOT EVEN WHEN TO GO IN ORDER TO OBTAIN CREDITS.

THE ISSUE IS HOW TO COMMUNICATE (=to manipulate symbols) IN ORDER TO MOTIVATE.

Using this theory of the manipulation of symbols we can differentiate three kinds of financing organizations:

(1) Those who deal with non-quantifiable symbols. The World Bank, for one, when it evaluates business propositions, employs criteria which cannot be quantified (how does one quantify the contribution to regional stability or the increase in democracy and the improvement in human rights records?).

(2) Those who deal with semi-quantifiable symbols. Organizations such as the IFC or the EBRD employ sound - quantitative - business and financial criteria in their decision making processes. But were they totally business oriented, they would probably not have made many of the investments that they are making and in the geographical parts of the world that they are making them.

(3) And there are those classical financing organizations which deal exclusively with quantifiable, measurable variables. Most of us come across this type of financing institutions: commercial banks, private firms, etc.

Whatever the kind of financial institution, we must never forget:

We are dealing with humans who are influenced mostly by the manipulation of symbol systems. Abiding by the aforementioned rules would guarantee success in obtaining funding. Making the right decision on the national level - would catapult a country into the 21st century without having first to re-visit the twentieth.

Business – Strategy and Execution

Every company aims to formulate good strategy and execute that strategy well. But many times it is found that it was either good strategy, bad execution or bad strategy and good execution. Why and how to avoid this?

Let us begin with what is a strategy? In simple terms, it means the plan to achieve the desired goals or results. If any organization has well defined goals, and can develop a strategy to achieve them, it should be half the battle won. But it is seen that execution fails. Why should that be so? It may be the fault of the team that executes the strategy, or certain unknown factors that unexpectedly or unknowingly creep in while executing the plan.

What should be done? Ideally the team that forms the strategies should consider the factors such as who are the people who will execute, does the company have the capacity to execute, what if any unexpected change or event occurs while executing, what are the risks involved, and so on. No strategy can be created without taking into account the ability of the people who will be executing it. One may create a great marketing plan but if the field marketing staff fails to understand and execute the game, it is bound to fail and then the blame game begins.

Can a company make a single team that not only creates the strategy but is also responsible to execute it? This will eliminate many such hiccups on the way. The problem is expertise. I am a good strategist and not a good executor. You are a bad strategist but a good executor on the ground. What if such arguments are presented by the team under formation? All right, how about creating a strategy and keep the execution team in the loop throughout the process of creating strategy? This creates another set of problems. The views of both the teams may be so different that no positive outcome will ever result.

I have discussed in brief about these factors above. In real life, more complications arise and especially in large organizations, the complexities increase. The only solution for the top management is to set goals and discuss them with every one. After getting every one in confidence, create strategies and let every one participate in the strategy formation. Decide about what is totally achievable and why may be achievable. Let the team that will execute commit itself to achieve what is totally achievable and promise them with rewards if they manage to achieve the other part also. The synergy between the strategy makers and the executors will ultimately decide the final outcome.

Boost Your Sales Through Sales Trainings

Many people regard sales as the most effective way of earning unlimited income. In fact, 7 out of 10 salespeople who were interviewed why they preferred sales as their job, they have contended that in sales, they can earn income on tap. This goes to show that they can either earn more or earn less.

From this point of view, salespeople view their success based on the kind of sales training that they have. Of course, no one could instantly exert expertise without the proper training that he needs in his career.

Hence, many salespeople are more than willing to submit their selves to sales training. They know that it would be one of the best ways to earn and achieve success.

So for those who cannot understand why sales training is important in a salesperson's career, here are some of the advantages of engaging into such sales booster activity.

1. It is a great help

Based on its basic concept, sales trainings are especially created to help the salespeople hone their skills and improve their craft. Their ability to create more sales is improved through the acquisition of advanced marketing strategies.

2. Molds better attitude

Another best thing about sales trainings is that they do not mainly focus on improving the skills and abilities of the salesperson as far as selling are concerned. Through these trainings, the attitude and behavior of the salesperson towards sales are improved.

Sales trainings teach them how to deal with the clients properly, how to handle objections, and how to persuade people. These things are not commonly taught on ordinary training programs.

3. Teaches good interaction

Through sales training, the seller will be able to identify the right strategy in dealing with his clients. It provides the right combination of language, perception, attitude, and the art of selling in order to interact with the client in the most favorable method.

The focus of this activity is to make the seller realize that selling should never be hard, or what most salespeople believe as hard selling. The point here is that with proper interaction, selling becomes an art, where the words and emotions are interlaced so as to lure the client to buy the product.

The Upshots

If sales training had been effective and was properly explained, chances are, sales will grow. But if it was done otherwise, more than a few unconstructive results may happen.

One of which is the lack of communication or miscommunication. Without proper orientation on the job and proper comprehension of the nature of the job, both the management and the employees might have difficulty in communicating the correct ideas and concepts.

Also, without sales trainings, salespeople will be less confident in distributing their products. This is because they are not fully aware on how to face their clients and how to persuade them into buying.

And last, without proper sales trainings, the people will not be enticed to do their job and advanced on a higher level of enthusiasm. This is because they are not aware of the possible compensation they will get ever they have performed better.

Indeed, sales trainings are not just any ordinary program and not just like any other training program designed just for the sake of having it. It has its purpose, and its results will definitely reap more income.

Five Tips To Managing Your Small Business

Managing a small business is rewarding, both personally and financially. However, it is also stressful and time consuming. By keeping in mind the following five tips, small business owners can better manage their business and feel less stressed.

• Maintain a healthy work-life balance. If your business is run out of your home, try to set business hours that you work by, take breaks throughout the day or go out for lunch. Destress and recharge your batteries by developing interests or hobbies outside your business.

• Set goals. Setting short and long-term business goals can help you keep your business on track. They can also offer a sense of direction that helps to guide business growth. Whether it's opening another store or increasing profit, it doesn't hurt to "think big."

• Keep finances in order. Keeping track of money coming in and going out can easily get out of control using paper, spreadsheets and file folders. If this is your method, it's time to accurately track and keep your company finances organized throughout the year. This will also make tax time a whole lot easier. No matter if you have simple or complex accounting needs, with the help of financial software such as QuickBooks, you'll be able to easily and effectively manage your finances. For more information about managing your business finances.

• Stay informed. With any business it's important to stay informed about the industry, business trends and current events. At the same time, you need to stay informed about specific laws, regulations and tax codes that affect your business.

• Develop a network. Small business owners often don't have the support and resources that a large company can provide. Therefore, it's important to build a strong network of people-employees, vendors and other small business owners.

For example, participating in local business organizations and conferences are good ways to find support and develop a professional network. This network will prove invaluable when you need inspiration or advice on how to better manage your business.

Managing a small business doesn't have to be a juggling act. Simple tips can make managing a small business a breeze.

7 Key Strategies to Earn Customer Loyalty

The key of your business success is building customer loyalty. Holding on to existing customers is as important as soliciting new customers to keep feeding your list with fresh subscribers. Customer loyalty is the key to your business growth and profit. Because loyal customers generate a continual revenue stream through repeat purchases, they bring your business-increased profitability at a lower cost.

Like in any other moneymaking system, to succeed as an email marketer, you will need to understand all the secrets that are available to keep growing your business and apply them immediately.

How to Build a Business Relationship to Gain Customer loyalty!

Everywhere you go online they tell you that you must have a list to succeed. That's true but it doesn't go far enough until you understand exactly what makes subscribers eager to pay for your products, success will remain subtle.

If you don’t know how to build a business relationship to keep your subscribers enthusiastic, eagerly waiting for your articles and rush to buy your product without any regard for brand, your list is worthless.

Hands down the main key factor of a responsive email list is the Trust Factor. If you earn your subscribers trust, you will have much more success when it comes to advertise to your list. Without the trust of your subscribers, they will be leery when it comes to pulling out their credit card to buy from you.

1 - Earn your subscribers' trust

Honesty is essential to earning customers' trust, and that trust is the key to gaining customer loyalty. Earning customers trust is important to the success of any business. Being honest goes with not hiding anything.

Let your subscribers know your Identification and contact information, such as your name, physical address, email address and telephone number. It is important that you let your subscribers know how to contact you for assistance. The more they know you as a person, the more they'll trust you. And when it comes to asking for money, nothing is more important than trust.

Warning: Be sure to be selective in what you promote to your subscribers. If you suggest a product that turns out to be a scam, your subscribers will likely blame you first for recommending it to them. You really can’t afford to take a hit like this to your reputation.


2 - Give Them What They Want

When your subscribers sign up to your ezine, they are doing so for a reason. They want the information you are telling them they will receive. Keep giving them that, and they’ll be happy as can be. Diverge from that, and you could find yourself losing subscribers quicker than you can get them.

Tips: Ask Your Subscribers what they want. Don’t guess. Use this great, easy to use online tactic to find out exactly what your subscribers will buy from you or what subject they want to learn about. You could hold a contest. By sending them simple questionnaires or surveys will give you a sense of your market's needs, wants and preferences. Give the winner a quality prize and/ or gift that he can’t find elsewhere. Getting your subscribers involved like this will also keep them interested in your emails and help get more emails opened.

3 - Don’t send “too many” marketing messages.

Two thing you really need to watch, as a publisher, is how to advertise your product/ service and what product you endorse. Nothing ticks off a subscriber more than thinking a publisher is only in it for the money. This will happen if you advertise too much, or if you advertise the wrong products.

Sending out an email newsletter with too much ads and a little or no quality information will hurt your reputation. You have everything to lose, and nothing at all to gain by stuffing your Ezine with ads.

The ads in your Ezine aren’t the only things you have to worry about. This also includes any ads you send out that are separate from your regularly scheduled newsletter. Sending out an ad each day is not the way to go if you want to build customer loyalty. It is the way to go if you want everyone to unsubscribe from your list.

4 - Make your subscribers your friends!

Give your subscribers a good sense of who you are. It’s important that your subscribers see you as a real person, because they will likely never meet you in person. One thing every successful publisher does is just talk about whatever is on their mind in each issue of their Ezine. They may talk about their family, their favorite sports team, politics, the weather, anything that’s going on. They usually ask the reader to write back a few comments about it, or the reader will just write back without being asked to. This creates a bond between the publisher and the reader that could result in future sales and future partnerships.

5 - Over Deliver

Nothing makes people happier than knowing you pay attention to them. Make your customers and potential clients delighted by giving them more than they expected. After they order your product or sign up for your publication, give them a gift or a bonus that wasn’t advertised, in addition to any gifts or bonus you promised they would get. I’m not talking about any ebook or software they can download from any website. Give something that no one or only a few other people are giving away. This kind of gift and bonus says that you put a lot of attention and thought into helping them succeed.

From time to time and in special events send free gifts just for the heck of it. By continuously over delivering, your subscribers will realize that you are trying to help them learn what they need to know, and they will appreciate it when you give them the tools and information they need to succeed. This is obviously geared more towards strong relationship and they stay loyal customers longer.

6 - Help Them Out

Besides giving your subscribers what they want, helping them with whatever they need help with is the best way to earn customer loyalty. While this works on an individual basis, instead of taking care of all of your subscribers at once, the people you are able to help will be very grateful, and will probably tell their friends, colleagues and neighbors about you. Positive word-of-mouth is a powerful way to acquire new customers and build customer loyalty.

If one of your subscribers sends you an email asking for help, help them out as much as you can. Don’t just give them a quick, one word answer. They’ll probably just be back asking for a little more information. Just go ahead and tell them what you can, and be nice about it, even if you think it’s a stupid question.

7 - Don’t Use Hype

I’m sure you’ve seen this before. It seems to be everywhere you look people trying to hype-up their offer to make it sound better than it is. Most people just want you to be straight with them.

If you just stick to telling the truth about a product, without making it look like hype, I think your subscribers will have much more respect for you. Personally, I think its stimulating when someone sends me a sales letter and outlines how I can benefit from it without trying to make it sound better than it is. Most people can tell the difference, and will probably be turned off by the hype.

The bottom line

When you combine all of these keys, you’ll build a strong relationship with your subscribers and they stay loyal customers for years. All you need to do is find a way to include all of these keys into your business marketing strategies, and you’ll soon find yourself getting new subscribers, building relationships with and earning customer loyalty.