Top Ten Tips For Improving Your Cash Flow

Writen by Alvah Parker

Cash is king—so they say. If you work for yourself or someone else, you need to be aware of ways to improve the cash flow. Budgeting and collecting are not glamorous but they are both key to having a successful business. Working in a successful business is much more fun than working for a struggling one!

1. Stick to your budget. (If you don't have one, make one now.) The budget is part of a business plan. You want to know exactly how much to spend on each large item you purchase and when you will have the cash to do it. Your cash flow projection coupled with your forecast will give you the proper timing for making purchases. The items you have budgeted for should also be part of the business plan.

2. Bill your clients regularly. Many business owners are so busy selling to new clients that they forget to invoice the clients they have already worked with. Put the task of billing your clients on your calendar and then stick to that schedule.

3. Get a retainer for your services before you begin the work. If you are going to be working with a client over a period of time, you will want to request some money up front before you begin to deliver the service.

4. Give a discount for early payment. You will be able to collect the money more quickly if you offer a discount for prompt payment.

5. Accept a credit card for payment. Although you have to pay the credit card company for this service, having the convenience of a credit card allows the client to pay immediately. Collection is now the problem of the credit card company.

6. Use your own credit card to finance purchases but do it cautiously. If the interest rate is low and you can pay the credit card company back relatively quickly, credit cards are often a good way to even out your cash flow.

7. Establish a line of credit with a bank. This is relatively easy to do so long as you have good credit and it gives you a cushion of cash when things are tight. Sometimes the bank will offer a really good rate to encourage you to become their customer for other banking services.

8. Put the cash that you have on hand in an interest bearing account. No reason to have cash sitting in an account that doesn't accrue much interest. As cash grows consider money market accounts, CDs and savings accounts.

9. Pay your outstanding bills judiciously. Notice which vendors are willing to wait for payment and which will charge you interest if you are late. Schedule payment to maximize the cash in your account.

10. Consider getting an expert to watch your cash flow. Have someone (financial advisor, accountant, bookkeeper) available to run financial reports each month so you know exactly where you stand in your business.

Alvah Parker is a Business and Career Coach as well as publisher of Parker's Points, an email tip list and Road to Success, an ezine. Parker's Value Program© enables her clients to find their own way to work that is more fulfilling and profitable. Her clients are managers, business owners, sole practioners, attorneys and people in transition. Alvah is found on the web at http://www.asparker.com. She may also be reached at 781-598-0388.

Ten Ways To Make Your Training Entertraining

Writen by Bill Burtch

How many of us have attended a training program where the material was dryer than the Sahara Desert? Where the instructor droned on and on? Where you left feeling the life and energy was completely sucked out of you? Okay, it may not have been that bad but we've all been in programs that have been down right boring. And, as training professionals, we all know that the learning is significantly impacted during those types of programs.

As Trainers we know that we must keep our audience engaged and attentive for the program to have any chance of success, hence the concept of EnterTraining…a combination of entertainment and training. Now, some of you may be thinking the focus of training is not to entertain but to facilitate learning, disseminate information, etc. My premise, in today's environment, is that this is more difficult if the program is not also entertaining. In addition, they are not mutually exclusive concepts. Some of the most memorable and effective programs I've attended were very entertaining. Most Accelerated Learning principles incorporate this philosophy as well.

So, what can you do to make your training more entertaining and, in affect, enhance the effectiveness of the training? Consider the following ideas:

1. Use stories to bring key points to life – We all love a good story and one that incorporates a key point in the training can assist with application and retention.

2. Facilitate vs. Teach – There's a subtle distinction between facilitating and teaching. Considering yourself, as the trainer, a catalyst for learning. A facilitator can allow learning to come from many places…participants, prepared materials, experiences, other experts, etc. rather than just from the Teacher to the pupil.

3. Involve the participants – Most adults learn best when they are true participants in the learning so make sure you do just that…create opportunities for group or individual activities, sharing experiences and knowledge, etc.

4. Conduct 'real life' role-plays – The more the training applies to the participant's day-to-day activities the more interested they will be. In addition, adults tend to like to learn by doing. Allowing them the opportunity to practice new skills in a safe, learning environment will help with the transfer of the learning to the job.

5. Conduct Demonstrations – Adults also learn from watching others model the new skill. Following the demonstration, give the participants an opportunity to debrief what they saw.

6. Use Humor – Jokes, cartoons, funny stories, exaggerations, etc. all add to a more jovial and creative atmosphere, which can enhance learning. Even the driest of topics can have humor interjected.

7. Utilize Analogies & Metaphors – Examples of key points stated in the form of a metaphor or analogy can often relate more closely to the participant and, like a story, give the training variety.

8. Use pop culture – Incorporate TV shows, movies or popular objects/toys, popular comics, etc. into the program, i.e. using a movie clip to demonstrate a leadership competency.

9. Incorporate Games & Competition – Utilizing games to review key program points or creating competition between individuals or teams can interject a lot of energy into program and a sense of fun.

10. Music – Add music into the program during breaks, during individual or group exercises, etc. Appropriate choices for the time will make it most effective.

Many of the concepts above are not necessarily new, and you may be incorporating many of the actions. What can you do to take your training to the next level of EnterTraining? Are there instances where lecture can be replaced with a group activity, a story could be told, or pop culture thrown in? Where an individual exercise could be turned into a game or competition? Where a related cartoon can be interjected into a series of PowerPoint slides to make the point and lighten the mood? What will you do to make your training more EnterTraining?

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Bill Burtch, SPHR, ACC is the President of Harmony Coaching & Consulting a management consultancy focusing on Human Resource Management, Training Design & Delivery and Executive/Corporate Coaching. Bill makes learning and development FUN! For more information on this topic or for information on Bill's services you can contact him at 901-272-7390, bburtch@harmonycc.net or visit him on the web at http://www.harmonycc.net.

7 Strategies I Learned From Selfmade Millionaires About Achieving Personal Amp Professional Success

Writen by Colleen Kettenhofen

"Imagination is everything. It is the preview of life's coming attractions."

Albert Einstein

After attending a seminar in Las Vegas this past weekend on achieving personal and professional success, I walked away with a plethora of time-tested tools that can be applied immediately. Many of the presenters were "self-made" millionaires, as I'm not talking about someone who inherited it or married into it. These individuals, through grit, determination and calculated risk did it on their own. Here are seven proven strategies guaranteed to dramatically improve your happiness, and help you in achieving success in any area of your life, if you apply them.

1. Wherever you are today is a result of what you've done in the past. Take responsibility for the choices you've made. Learn from them and move on. Let go of the mistake but don't lose the lesson. Don't focus on the pain of your past, focus on your purpose for the future. This frame of mind alone can turn your life around.

2. "You become what you think about all day," Earl Nightengale once said. Have you ever noticed while driving your car that if you keep looking to the right, you eventually go to the right? Keep looking to the left and your car veers left? What you think about and focus on becomes your reality. So focus on achieving success and be specific with your goals.

3. The books you read and the people you interact with most determine 90% of your success. So surround yourself with successful, positive people. Join a mastermind group. It can consist of like-minded individuals all around the country where you talk by phone once a week. Attend business and personal development seminars to find the right people. Who are the people you spend the most time with? What about their goals, values and priorities? Do they have any goals?!

You are an average of the five people you spend the most time with. Try this exercise: add up their yearly income and divide by five. Most likely your income is within 10% of that sum. You can spend time with people less successful than you and feel like a big fish, but as you discover your passion and climb the ladder of career success, those same people will drag you down and discourage your dreams.

4. Make the books you read be about achieving personal and professional success. Invest at least 3%of your yearly income in personal and professional development books, CD's, e-books, teleseminars, webinars and the like. If you're pressed for time, listen to motivational CD's in your car. The average person spends 500 to 1000 hours per year in their cars. Turn your car into a virtual mobile classroom.

5. Reprogram your mind. You've heard the phrase "stinkin' thinkin'." To reprogram your mind with positive thoughts, spend a few minutes upon awakening reading inspirational literature or something related to the field you are passionate about. Do the same thing within that last hour before bedtime. The subconscious mind is most amenable to suggestion the first hour upon awakening, and that last hour before retiring.

6. The mirror exercise. Every morning getting up and every evening going to bed, give yourself pep talks. At first you will feel embarrassed and ridiculous, but this technique is very powerful. Ruben Gonzalez, three time Olympian in the luge, was the keynote speaker this weekend. He told how his friend used to make him stand in front of a mirror and say to himself with emotion, "No matter how terrible it gets I am going to make it happen!" He would say this over and over until he believed it. Saying it with emotion will help your dream manifest itself more quickly. This is especially important in striving for business success.

7. Learn to overcome procrastination. Most people procrastinate doing something because they fear it. For example, if you're procrastinating learning a new software program, take classes or hire a tutor. If that skill is necessary in helping you achieve an important goal you must do it. Also, do the thing you like least first. The more you think about what you "should" do and procrastinate, the harder it is to get started, and your anxiety is compounded. Think how much better, lighter (and more confident) you'll feel when it's complete.

Celebrate your successes and reward yourself for even small accomplishments. All work and no play serves as a de-motivator. The larger the success, the larger the reward. Have you ever noticed how much you accomplish right before a vacation? You're looking forward to that reward, and you don't want to think about it when you're on vacation. Do the same thing with these simple steps. Apply them. Work them.

Focus on your dreams not the fear. The price of success is huge, but the price of regret is worse. Increase your self-belief and increase your desire. Ask yourself, "Who am I?" "What do I want to be?" And go do that. Good luck.

Colleen Kettenhofen is a motivational speaker & co-author of "The Masters of Success," as featured on the Today Show, along with Ken Blanchard and Jack Canfield. She has spoken in 47 states & 6 countries. Popular topics: difficult people, success, presentation skills, leadership, life balance. To order the book online, or for more free articles visit http://www.ColleenSpeaks.com Colleen is available for keynotes, breakout sessions and seminars. http://www.ColleenSpeaks.com colleen@colleenspeaks.com

10 Resourceful Things You Can Do With A Product That Doesnt Sell

Writen by Rojo Sunsen

1. Sell the reprint/reproduction rights to the product. You could make money selling other people the rights to reproduce and sell the product. People are always looking for new products to sell.

2. Giveaway the product for free from your web site. Just because it won't sell doesn't mean people won't visit your web site to get it for free. They may see another product you sell and buy that one.

3. Try auctioning off the product at an online auction. You may make part of your investment back. If you're lucky, you may even make a profit because people sometimes get into bidding wars and will bid a higher price than the product is worth.

4. Use the product as a free bonus for another product you sell. This will increase the perceived value of the product you're selling. People will feel they're receiving more for less.

5. Contact businesses with the same target market and see if they would be interested in using your product as a free bonus for their product. You could place your ad on the product and get free advertising.

6. Sell your product to businesses at wholesale cost as a promotional product. Businesses are always looking for products they can giveaway to their customers with their advertising on the product. You could make part of your investment back.

7. Barter your product to other businesses for things you need for your own business. You could trade for their products or services. This will save you money and help make up for your profit loss.

8. You could create an online contest so people could win your product. This will attract traffic to your web site. You also could get free advertising by listing it on online contest directories.

9. If you decide to giveaway the product for free, allow other people to giveaway the product for free. Place your web site ad on the product. This will spread your advertising and attract even more people to your site.

10. Ask businesses with the same target audience if they would be interested in combining your product with their product. You could then sell them together as a package deal and split the profits. You may have better results selling your product this way.

About the author:

Rojo Sunsen is a specialized bounty hunter who prefers to work quietly/confidentially for the benefit of her clients.

Top 10 Ways To Turn Clients Into Raving Fans

Writen by Sandra Schrift

Do you find great joy in being a coach? If so, you will find that your enthusiasm is contagious and will attract clients. Be sure to develop a superb and supportive community. Enlist them in building a practice and in supporting you as you go down the coaching road. Embrace change. It is your constant companion as you build your coaching business.

1. Be someone that they really enjoy as a person and as a vendor.

2. Call your Client each quarter to ask if they're having any problems or challenges with their organization.

3. Continually improve your product or service.

4. Keep your client informed about future changes and upgrades about the product/service they bought.

5. Keep your client informed about what the media and other clients are saying about your service/product.

6. Educate your client on making the most of your product/service.

7. Do the unexpected, again and again.

8. Create a "special client-only" club or group that gets extra things e.g. autographed books, audio tapes, and special invitations - anything worthwhile.

9. Be 6-24 months ahead of the competition - and stay there.

10. Use high tech, low tech, no tech to keep your name in front of your clients. After all, they are the ones who will bring you the business.

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Publishing Guidelines: You are welcome to publish this article in its entirety, electronically, or in print free of charge, as long as you include my full signature file for ezines, and my Web site address (http://www.schrift.com) in hyperlink for other sites. Please send a courtesy link or email where you publish to sandra@schrift.com. Thank you.

About The Author

Sandra Schrift 13 year speaker bureau owner and now career coach to emerging and veteran public speakers who want to "grow" a profitable speaking business. I also work with business professionals and organizations who want to master their presentations.

To find out HOW TO MAKE IT AS A PROFESSIONAL SPEAKER, go to http://www.schrift.com/success_resources.htm

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