8 Strategies to Improve Customer Service

Every brand believes that its customer service is excellent. In reality, however, customer service across brands is mediocre. The experience is generally inconvenient, unpleasant, unsatisfactory, sometimes humiliating, and definitely expensive.

Good customer service is an integral part of business. It affects important brand and business objectives like customer satisfaction, loyalty, retention, repeat purchase, up selling and usage revenue. In light of these business implications, there is continuous pressure on brands to improve customers' perceptions of their service.

Improving customer service should not be that difficult. It can happen if organizations reconsider certain business strategies. In my opinion, the following eight strategies are very important to improve customer service:

1) Incorporate in business planning: The quantum and nature of service requirements are dependent on the activities of many other functions. Organizations should incorporate customers' service requirements into all aspects of business activities like product design, procurement, production, handling, pricing, communication, people, and culture. This would help organizations to prepare better for service eventualities and at the same time make customer service the responsibility of the entire organization.

2) Change attitude to service: Despite being a critical business activity, customer service function does not command the same respect that many other functions do. Many perceive it to be dirty, menial, and unpleasant. Service center appearances and resources are always far inferior, especially to that sales and marketing. If an organization treats the service function in this manner, customers are likely to get the same treatment from the service function.

Organization's attitude to service is a reflection of its attitude to customers. Management has to go far beyond providing mere lip service if the rest of the organization has to respect customer service and customers.

3) Integrate with marketing: Customers are an important marketing resource. They are the most credible brand ambassadors, their word of mouth recommendation is far more effective than all other marketing activities put together. Given its importance to marketing, organizations should make marketing solely responsible for customer care and if necessary create a separate customer marketing function to protect, nurture, and leverage its core assets (customers) far more productively. Integrating it with core marketing will also remove the stigma associated with service.

4) Shed the profit center approach: Many organizations try to make a profit through customer service. In a profit center approach, revenue-generating activities like sales of maintenance contracts, spares, and expensive call charges become more important than the aforementioned business objectives. Selling at low margins is normally the reason for the profit center approach. Attempting to increase profit through service would anyway not work as customers expect service charges also to be low if the product purchase price was low. Expensive service charges would also force customers to choose cheaper third party service providers.

Brand and business objectives should be the only purpose of the customer service function. The collective value of these business measures, in near term and long term, would always be higher than the profits made from normal service activities. A profit center or cost center approach, disregarding business objectives, would be detrimental to the brand.

5) Adopt retention pricing: Product pricing should include the cost of acquisition and the cost of retention including the service cost. Discounting the service and retention cost to make the sale price attractive would only force the brand to recover the lost margin through subsequent transactions.

It is wrong to believe that customers do not deserve good service just because the sale price was low. Every customer, irrespective of the price that he pays, expects good service. The product price should therefore, have a sufficient margin to meet those expectations.

6) Manage expectations: Customers have explicit and implicit service expectations. Explicit expectations are formed basis the claims and promises made by the brand at the time of purchase. The brand has complete control over explicit expectations. Implicit expectations formed basis the customers' perception of brand image, stature, reputation and the price premium they pay for a brand are far more difficult to gauge and manage.

Most often organizations measure only the explicit commitments. Failure to identify and measure implicit expectations is a big reason for the gap between its understanding of the quality of service rendered and customers' perception of the service received. Customers' perception of service will improve only when both these expectations met.

7) Recognize the role reversal: Brands make an emotional pitch to sell but provide service by the rulebook. Customers though, buy rationally but react emotionally to product and service failures. Recognizing this role reversal will help brands to appreciate the customer's pain better and adopt an appropriate service response. Brands should remember that they are not dealing with failed products but with people's emotions caused by failed products. An emotional approach to service, similar to the sales pitch, might work better than a rational response.

8) Focus on customers' convenience; not yours: Most service facilities and procedures are not customer friendly. Service centers are far and few, the locations are remote, phone lines are always busy, the service center timings always conflict with customers' work hours, and the waiting time at the service center is invariably long. Further, asking such aggrieved customers to fill lengthy forms, answer questions (often interrogatory and structured to make the customer feel that he or she is responsible for the problem), wait inordinately, listen to policies and rules is inconsiderate and humiliating.

These inconveniences dissuade customers from choosing company service. Removing such irritants, besides improving customer experience, would also encourage more customers to choose company service over third party service. Increase in service revenue because of more customers choosing company service should compensate for the increase in cost, if any, of providing service at customers' convenience.

Pratap Singh

Website: http://www.pratapsingh.typepad.com

LinkedIn: http://www.linkedin.com/in/pratapdsingh

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Top 3 Strategies For Selling Services

Selling services is quite different from selling products, even though some marketers might disagree with me. Therefore, it is important to develop a strong and unique service selling strategy.

Top 3 Strategies for Selling Services:

#1 Strategy: Focus your service business on a specific segment of customer (for example, the real estate market, doctors, banks, specific industries, etc.). Marketing professional services to a specific customer group must focus on why the customer needs those services and how outsourcing services fulfills the customers needs.

For example, if you are a graphic designer and you target residential property developers as your clients, you need to develop a strategy and approach that communicates why the developer should select you to design his/her project campaign and how your specific services will help sell the project. Focus on what you deliver. Prepare a budget for total cost (not hourly costs); or break your budget down into specific categories, such as advertising - television, newspapers and magazines; signage; and promotional brochures and direct mailing.

#2 Strategy: Focus your service business on what you, and your business, can deliver. Your customers are buying your skills, your experience, your training and education - in effect, they are buying what you are capable of delivering. Often they are also buying your reputation and credibility: service selling is about building strong relationships. Customers who buy financial, legal, medical, business services need to trust in that relationship. It is challenging to convince customers to switch from another service provide to you without first building a trust relationship.

If you have staff that are delivering services for your company, your customers are buying the services of your staff. Be careful that you treat your staff well - if they leave, often the customers that they have been working with will also leave.

#3 Strategy: Focus on pricing your services on a project basis (if possible). Pricing by the hour or showing the cost on a per hour basis often leaves the customer wondering about wasted time or excess billed time. So, when you prepare quotes for your services show the price as an all inclusive price. For example, for legal services for the incorporation of small businesses, quote a flat fee. If you are concerned that you will need to provide extra services at no charge, make sure that you detail what service you provide for that price. And show what the extras might cost as additional notes on the price quote. Most service businesses believe they need to bill for every hour (or quarter hour) spent; but the reality is that if the business builds its price structure correctly than hourly charges can be incorporated into a flat fee structure.

Selling service is like selling a product in one key way: satisfied customers will mean return business and often will mean increased business through referrals. Service businesses are difficult to sell because they're typically owner-dependent, with little in the way of capital equipment (like manufacturers have).

It is more difficult to 'prove' the value of the service you provide because service, by its very nature, is intangible, whereas a product is tangible. When you develop your marketing plan and selling strategy, you need to focus on referrals, on satisfied customers, on samples of your work whatever is most appropriate in your business. You want to, and need to, communicate the quality of your service.

Recognize that selling service in a business-to-business environment is generally a longer cycle than selling products and therefore your selling strategy needs to focus on a strong marketing program. Customers will need more information, more points of contact, and more time to make their buying decision. Selling service in a consumer environment is typically a short cycle (for example, hair styling and cutting). Be consistent with your selling strategy, focus your efforts on strong and relevant business ideas that support the service you are selling. Do the follow-up. Make another contact. Build a communications cycle for your service that makes sense.

Finally, because your success is so dependent on your relationship with your customer and on your ability to satisfy expectations, you need to survey your customers on a regular basis and ensure that they are satisfied with the service you provide.

For more on service selling and other sales strategies, please visit http://www.more-for-small-business.com/small-business-sales.html and for more on small business resources and advice, visit http://www.more-for-small-business.com/

Kris Bovay is the owner of Voice Marketing Inc, a business and marketing services company. Kris has 25 years of experience in leading large, medium and small businesses. Copyright 2008 Voice Marketing Inc.

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The Top 10 Businesses to Be in During a Recession - Real World Recession Strategies

Top Ten Businesses in a Bad Economy

According to One Coach the following businesses tend to succeed during a recession:

1. Business Coaching

2. Business Networking

3. Alternative Fuels

4. Environmental Services

5. Health Care

6. Nail Salons

7. Discount Retailers

8. Luxury Products

9. IT and Technology Services

10. Credit and Debt Management

It is debatable whether Nail Salons and Luxury products truly do succeed in a recession. Item #9 in my view should be ranked higher in the list as businesses utilize technology to become more efficient and profitable during tight, recessionary periods. #3 and 4 are great forward looking businesses, but they carry a premium and subject to positive government policy and regulations. Just know you need to be prepared for the long haul with Alternative Fuels and Environmental Services as demand will ebb and flow directly associated to the whims of the White House and Congress. In addition, during down economies, you will need to aggressively sell how much these businesses can save consumers and businesses money in a significant, quantifiable way, since the offering will be products and services that carry a price premium. Glad to see my business at the top of the list! Businesses find out they need a business consultant and coach during downtimes-the smart ones know this before they get in trouble!

Real World Business Recession Tactics and Strategies

Some areas which Sara Wilson keyed on in the December '08 Entrepreneur Magazine Article, "Trend: Economy", which makes a lot of sense in this Economy:

1. A Business Idea that is Working right now: CouponMom

a) Stephanie Nelson started a website that teaches consumers how to save money buying groceries using coupons.

b) 2008 Revenue has doubled and the site had over 1 million unique users in July.

2. Local Scope: Due to financial pressures and an uncertain economic outlook, consumers are spending more time at home and closer to home.

a) Consumers are frequenting local restaurants and entertainment establishments, which are more low key and less expensive.

b) Instead of traveling to Disneyworld, families are utilizing "staycations", enjoying local area parks, lakes and beaches.

3. Green Business: Organics are and have been exploding in growth and the outlook is very good. People want to eat healthy and feed their family healthy food even when things are tight financially. Green conservation is another growing business niche.

4. Web Business: Why spend large start up dollars on a brick and mortar Business, when you can run the same or similar business from home, utilizing the internet?

a) Web businesses are very competitive and the learning curve is significant if you aren't familiar with web marketing techniques.

Sara Wilson had another good article, "How are Franchisees Dealing?" in the January '09 Entrepreneur Magazine that interviewed four different franchise business owners on how they were dealing with obstacles during this current economic slump:

1. Floyd's 99 Barbershop: The franchisee, Jay Palmer, couldn't find a loan for a new store. He tried using his home and his parent's home as collateral and no luck with banks, including trying to obtain an SBA or Corporate loan.

a. The Solution: Mr. Palmer found a personal investor (Angel Investor). The investor came into the shop for a shave and a haircut when Mr. Palmer wasn't around so he could get a good feel for the business. He ended up investing $150,000 after seeing a steady stream of happy customers and happy, energetic employees. This was a great move on Mr. Palmer's part, using a track record of success and clearly showing a sharp investor the real deal behind the potential success of his future business opportunity: great service, great product, happy customers and content, energetic employees. In just one site visit and the positive experience with the business' services, the investor was ready to supply the needed capital even after multiple bank turn-downs.

2. Kitchen Solvers: Franchisees, Carrie and John Borden Kircher, customer niche based changed. Their customer market became price orientated, and the business offers premium kitchen and bath remodeling. Leads dropped 19% and sales are down 25% over the last two years.

a. The Solution: Their solution is rebrand their vans, get new signs; increase letters to past customers; leave a gift with a customer after a job is complete; and working with their franchiser on the operational side of the business. Ok, as a Business Consultant I am going to give my two cents on the Borden Kircher's proposed solutions:

i. Rebranding Vans and New Signage: In my experienced opinion, this is a waste of money. I would instead spend this money on a new Marketing Plan which concentrates on two areas:

a) How to target higher wealth clients in the market area.

b) How to sell price based customers on why premium services and products can save them money in the long run. Once the new Marketing Strategies bring in profits, then it is a good time to upgrade signs and re-brand with those growth dollars.

ii. Increase Letters to past clients: Ok, but what is the purpose of a letter? The time to ask for referrals is the day the job is completed. When the client is happy with their new Kitchen or Bath. A newsletter with examples of completed jobs and customer testimonials, along with a preferred customer discount coupon, may be more effective in obtaining an add-on sale with an existing customer. A newsletter can also be a forum to introduce other services to current customers which they may not be aware, such as, having an article on the Design Services that Kitchen Solvers offers. The most cost effective, normally highest bang for your marketing buck, are continuing sales to existing customers.

iii. Leaving a Gift Basket with a Customer Post Job Completion: The Borden Kircher's are looking to implement better customer service and they believe customers are looking for the "Wow" factor. Leaving a gift is not customer service, and the wow factor should be as a result of a beautifully completed job. A Gift Basket will get neither. Customer Service starts at the Sales and Design Stage and continues throughout the job. The business owners showing up on the job to check on things and talk with the client is good customer service. Meeting with the customer in person after a job is completed to go over everything and ensure the client is happy is good customer service (and a great time to drop off the latest company newsletter and ask for several referrals). Customer Service is showing up on the job when the client is unhappy with the contractor's work. This type of highly motivated customer service will create the Wow factor for Kitchen Solvers, along with a quality, premium, beautiful look in the finished kitchen or bathroom, leaving a lasting impression.

iv. Work on the Operational Side with the Franchisor: This is one of the fantastic advantages a Franchisee can leverage: utilizing the experience and resources of the Franchisor. Some Operational Tips I would make as a Business Consultant:

a) Analyze product costs and see where you can cut costs yet still retain a premium, high-end image with quality products and value added results.

b) Work on a Supplier Business Plan which strengthens your relationship with your suppliers, tapping their assistance, experience, resources and expertise to bring better product offerings to your customers.

c) As previously stated re-work the Marketing Plan, along with making the resulting key changes in the Strategic Plan to better anticipate future market trends and adapt operations more proactively to those indicating trends.

d) Examine the Operational Aspects of the Business Plan to see how you can better bridge the gap between the design sale stage and the install. Customers are more prone to pay a premium for a smooth, effective transition from concept and design to install and completion.

e) Incorporate add-on selling into your Strategic Sales Plan for existing customers. A happy customer is more apt to stick with the same company to continue remodeling, so be sure to have a built in process which engages customers and shows them other remodels you can accomplish for them. Add-on selling takes very little marketing cost for a big return and ties in well with solid customer service.

f) Have the Franchisor witness some sales and installs to see if areas for improvements can be identified. Incorporate these improvements into your Business Plan.

b. My Best Advice: Find a way to sell a premium product and service to higher wealth clientele and offer a product/ service which has a premium look and finish, yet appeals to price conscious customers. Search for innovative suppliers who can help accomplish this mix. Follow-up this new business model with strong customer service throughout all the sale and install stages. Concentrate on a post-completion walk-through which asks for referrals and start the add-on sale process. Follow up with a monthly newsletter which contains add-on ideas and offers a loyal customer discount. The Borken Kircher's have a lot of challenges in this economy, and as they said, "you can't just sit around waiting for people to call." Use this rough patch as a learning experience in staying ahead of changing market trends, analyzing costs and making new plans for future success. A premium product + great customer service + a quality install + great value = a viable business model in any economy. Just don't wait two years to make changes.

3. The Melting Pot Restaurant: The challenge Franchisee Michael Frampton was facing during the Real Estate Crash in California was establishing the restaurant in a new shopping center when 10 other centers in the area were all opening at the same time. On top of this significant challenge, property taxes went up from $500 a month to $2,500, which meant $2000 a month cost comes straight off the bottom-line, never being budgeted for.

a. Solutions: Mr. Frampton shows why he is going to be a successful business owner. Clear steps and strategies to overcome the current situation:

i. Loyalty Cards: This is a fantastic move. Appreciate your regular customers during the hard times, and they will keep your doors open.

ii. Mass Mailing: Targeted within a 10 mile radius as there are so many competing restaurants in the immediate area. Targeted mailing is measurable, which is key during tough times.

iii. Analyze where you are spending money and the areas which can be controlled (not necessarily cut): Mr. Frampton actually saved $500 a month in focusing on linen costs for towels used to clean the restaurant. He also analyzed energy cost: when they turn on equipment and the length of time it's used. A third major cost area for restaurants is staffing, which Frampton cost analyzed as well.

iv. New Business Opportunity: He started opening for lunch on Sundays. Why? Probably because customers come after church with their families to enjoy an upscale meal, as do the late weekend risers searching for a good brunch close to home. One of the best analyses a restaurant can perform is looking at the average customer flow, food sales, alcohol sales and costs for each day of the week it is open to determine what days are best to be open and the reasons why. Armed with that information, you can adjust staff schedules, open hours and food prep costs much more strategically. Mr. Frampton apparently thinks the added costs of being open for lunch on Sunday is worth it, based on good cost analysis.

4. EmbroidMe: Wendy and Todd Diskin own a franchise that specializes in promotional solutions for businesses, which includes decorating apparel and screen printing. Their challenge has been rising costs from their suppliers. They have experienced a 5% increase in the Cost of Goods over the last year.

a. Solutions:

i. Competitive Pricing vs. Solution Based: The custom product industry is price competitive. With rising costs, the Diskin's have provided a more solution based approach so the buying decision isn't just made on the quote. For instance, if one of their customers is trying to increase readership, they figure out how EmbroidMe products or services can help the client achieve that goal and come up with a program to do so. Then the decision becomes one of "risk and reward and ROI instead of price..." Selling solutions alongside your product and service offerings is a way you can separate your company from the competition and still retain premium pricing in a price based market.

ii. Continuous Marketing Software: This program sends letters and emails so the Diskin's can "stay in front of their customers on a regular basis without a ton of effort...." This software program keeps the company engaged with customers, giving EmbroidMe first opportunity to make another value added sale or track how customer market trends may be changing.

iii. Vendor Relations: Leveraging a strong advantage franchises have, EmbroidMe Corporate negotiates the best pricing and strategic relationships with suppliers for their franchises. This is a huge advantage as it is a time consuming task and volume pricing from a Global Corporate level is much more advantageous than negotiating on your own as a single business unit. So it is apparent that although COGs has risen, EmbroidMe is still very competitive and successful, even in a recession.

Conclusion:

This article used real world examples and combined it with the business experience of a 20 year veteran Business Consultant to provide you with real world examples and strategies to use in order to start, run or adjust a new or existing business in a struggling economy. In a recent article I discussed Recession Survival Planning, and how it is a must and utilizes good Strategic Planning, Diversification Techniques, Contingency Planning and Cost Management. In another article I discussed various Recession Finance Techniques for your business which are particularly good during a Recession, which include Networking, Supplier Finance, Lease Finance and Local Business Loans. To conclude in this article, I identified certain types of businesses which excel in an Economic Downturn and why they are successful. My best advice for starting or operating a business during Recessionary times is as follows:

1. This Recession will have an impact for at least 3 years. So keep that in mind when planning for your business.

2. Track record, Experience, Niche Market Identification and Cash Flow are keys in raising funds for your business.

3. Solid, Comprehensive Business Planning, along with realistic, accurate Market Planning and Financial Forecasts are very critical during challenging economic times. An effective Strategic Plan is integrally important in bridging the gap between a Marketing Strategy and Realistic Financial Forecasting.

4. Out of the box thinking: For Brick and Mortar Companies, key on strong local areas and/or utilize the web to efficiently bring a product or service to the market.

5. Price Competitiveness becomes less important if you sell value-added business solutions to your customers and have tight controls on costs.

Frank Goley is a business consultant and business coach, and he works for ABC Business Consulting. He is an expert in developing, writing and implementing business plans, business funding plans, marketing plans, strategic plans and business turnaround plans. Frank is author of The Comprehensive Business Plan Workbook - A Step by Step Guide to Effective Business Planning, and he writes the Business Success Strategies Blog.

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Business Exit Strategies - Internal Transfers Versus External Transfers

Most business owners believe that an 'external' sale of their business is their only (or at least best) Exit Alternative. Typically this is because business owners know that their employees and/or fellow family members don't have the type of money required to secure a successful exit plan for them. So often times, business owners approach (view or see) the topic of Exiting a business as meaning that they need to sell their business to an outside buyer with enough money to pay them what they want.

So while an 'external' sale is intuitively appealing, it's my experience that an understanding of 'internal' transfers will help open up a very good dialogue with a business owner so that they can understand all their options and make a well informed decision. In fact, analysis of an 'internal' transfer of the business can be a powerful alternative to a business owner looking for an Exit Strategy. And, depending upon the business owner's motives, it may be the best alternative available.

'Internal' transfers of ownership in a business are often times overlooked because they are not intuitively understood by the business owner and/or the business owner's advisors. So let's examine some of the 'internal' transfer methods that are available to a business owner to illustrate the benefit of a well-conceived Exit Strategy.

'Internal' transfer methods include Employee Stock Ownership Plans (ESOP) Transfers, Management Buyouts (Sales to Family and Management), Gifting Strategies, Private Annuities, Family Limited Partnerships, and Charitable Transfer Strategies. The three (3) primary differences between these 'internal' transfer alternatives versus (and the) 'external' transfer alternatives are:

the corporate assets, including future cash flows, are leveraged to achieve these strategies;
the driving force behind these 'engineered' strategies is a business owner's motive of passing the business to someone other than an outside buyer, and;
the business owners will frequently be considering tax planning and estate planning along with their Exit Strategies. 'Internal' transfers, as a general rule, allow for more flexibility in these areas than 'external' transfers.
A business owner considering an 'internal' transfer can set the price and terms for the transfer and say to their family and/or management team, "Here is what I want/need for my business". For this reason, 'internal' transfers are often referred to as 'controlled' transactions because the business owner is working with 'assets' that they already possess in structuring their Exit from the business. So if those 'assets' are sufficient to achieve that business owners' goals (based on their motives), then it is worthwhile to examine an 'internal' transfer.

This is in sharp contrast to a business owner attempting an 'external' transfer because they are often subject to a process that includes outsiders investigating their potential investment in the 'Target Company' and then telling the business owners, "Here is what we are willing to give you for your business". So, the Exiting business owner can expect to lose quite a bit of control over the process. And, because many business owners possess a unique psychological mix of independence, intelligence and control orientation, losing control to an outside buyer often leads to 'choppiness' in a deal.

Mergers and Acquisitions professionals will often advise business owners that if the business owner wants to set the price for the deal, then the outside buyer will be setting the terms for the deal. A deal is struck when each party is 'equally happy'. Or, as one dealmaker said, every successful 'external' deal is a "little miracle".

So, one will naturally ask, "What's the downside of an 'internal' transfer versus an 'external' transfer"? Quite simply, negotiating with family members and key employees can be inherently dangerous. These individuals (and their advisors) will require detailed and confidential information from the business owner in order to fully understand all the risks inherent in owning the business - really no different than the 'external' buyer. And of course, most business owners are not anxious to share all their information with their employees; it goes against the nature of the relationship amongst workers and owners.

So then, how does one go about negotiating an 'internal' transfer? The answer is "very carefully". And, the most cautious first step that a business owner can take is to engage an intermediary - which can be any one of the existing advisors to that business - to assist with the transaction. Having trusted advisors involved in the process raises the level of objectivity and lowers the level of emotions when negotiating the transfer.

Because, after all, if the 'internal' transfer does not work out, it will not add a lot of Value to the business to have [further] frustrated employees due to that business owner's own doing. It's easier to place blame for a failed transaction with a third party advisor so that all parties involved can amicably return to the business of running [and not transferring] the business.

Yet another downside to an 'internal' transfer is the loss of potential for extraordinary gain on the transfer. As a general rule, 'external' buyers for businesses include 'Strategic' (or industry) buyers and 'Financial' (such as Private Equity Groups) buyers.

A Strategic Buyer of a business stands to offer the selling business owner the highest total Value in buying the business because that buyer can apply 'synergies' to the valuation of the deal. In other words, a buyer who is already in the same business as the seller, can eliminate duplicate expenses and acquire new customers for their existing products. These 'synergies' help raise the Value of the transaction to the Industry buyer, and a good M&A intermediary will argue for the sharing of those synergies with the selling business owner. This synergistic value is likely not available with an 'internal' transfer.

So to summarize my original point, a business owner who wants to Exit their business should be aware of the various methods by which an Exit can be directed. Thereafter, consideration should be given to that business owner's motives. In other words, what is most important to that Exiting business owner and how can it best be accomplished?

An Exit Strategy is defined as 'The written goals for the succession of a businesses' ownership and control, derived from a well thought out and properly timed plan that considers all factors, all interested parties, and the personal goals of the owners in a manner and time period that is accommodative to the business, its shareholders, and potential buyers.' Accordingly, knowing the pros and cons of 'internal' and 'external' transfers is a critical step in establishing an Exit Strategy.

Exit Strategies are hard to design and even harder to properly execute. I am pleased that you are pursuing a pro-active interest in Exit Strategies because a pro-active approach to an Exit Strategy is the only approach to a successful Exit Strategy.

© 2007 John M. Leonetti

Specializing in Business Exit Strategies, John M. Leonetti, Esq., M.S. Finance, CM&AA founded Pinnacle Equity Solutions to provide exit strategy planning services to business owners as well as education and training programs for professionsal advisors. To learn more about John's Exit Strategy Services and his recently published book, "Exiting Your Business, Protecting Your Wealth", visit ExitingYourBusiness.com

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Business Loan Strategies to Buy a Business Opportunity

When buying a business opportunity that does not include commercial property, borrowers should realize that business loan options will be significantly different when compared to a business purchase that can be acquired with a commercial property loan. This problematic situation occurs because of the normal absence of commercial real estate as collateral for the business financing when buying a business opportunity. In terms of arranging the business loan, efforts to buy a business opportunity are almost always described by commercial borrowers as excessively confusing and difficult.

The comments and suggestions in this report reflect business financing conditions that are frequently offered by substantial lenders willing to provide a business loan to buy a business opportunity throughout most of the United States. There are likely to be circumstances in which a seller will privately fund the acquisition of a business opportunity, and it is not our intent to address those business loan possibilities in this report.

BUSINESS OPPORTUNITY BUSINESS LOAN STRATEGIES:

Buying a Business Opportunity - Length of Business Financing to Anticipate

Business financing conditions to buy a business opportunity will frequently involve a reduced amortization period compared to commercial mortgage financing. A maximum term of ten years is typical, and the business loan is likely to require a commercial lease equal to the length of the loan.

BUSINESS OPPORTUNITY BUSINESS LOAN STRATEGIES:

Expected Interest Rate Costs for Buying a Business Opportunity

The likely range to buy a business opportunity is 11 to 12 percent in the present commercial loan interest rate circumstances. This is a reasonable level for business opportunity borrowing since it is not unusual for a commercial real estate loan to be in the 10-11 percent area. Because of the lack of commercial property for lender collateral in a small business opportunity transaction, the cost of a business loan to acquire a business is routinely higher than the cost of a commercial property loan.

BUSINESS OPPORTUNITY BUSINESS LOAN STRATEGIES:

Down Payment Expectations to Buy a Business Opportunity

A typical down payment for business financing to buy a business opportunity is 20 to 25 percent depending on the type of business and other relevant issues. Some financing from the seller will be viewed as helpful by a commercial lender, and seller financing might also decrease the business opportunity down payment requirement.

BUSINESS OPPORTUNITY BUSINESS LOAN STRATEGIES:

Refinancing Alternatives After Buying a Business Opportunity

A critical commercial loan term to expect when acquiring a business opportunity is that refinancing business opportunity financing will routinely be more problematic than the acquisition business loan. There are presently a few business financing programs being developed that are likely to improve future business refinancing alternatives. It is of critical importance to arrange the best terms when buying the business and not rely upon business opportunity refinancing possibilities until these new commercial financing options are finalized.

BUSINESS OPPORTUNITY BUSINESS LOAN STRATEGIES:

Buying a Business Opportunity - Lenders to Avoid

The selection of a commercial lender might be the most important phase of the business financing process for buying a business. An equally important task is avoiding lenders that are unable to finalize a commercial loan for buying a business.

By eliminating such problem lenders, business borrowers will also be in a better position to avoid many other business loan problems typically experienced when buying a business. The proactive approach to avoid problem lenders can have dual benefits because it will contribute to both the long-term financial condition of the business being acquired and the ultimate success of the commercial loan process.

Copyright 2005-2007 AEX Commercial Financing Group, LLC. All Rights Reserved.

Steve Bush is the CEO of AEX Business Opportunity Business Loan Solutions. Steve provides working capital business loan and credit card processing assistance throughout the United States. Information about free AEX Commercial Loan Reports and a free AEX Commercial Real Estate Loan Course is available at select AEX websites.

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10 Top SEO Facebook Strategies

Facebook is actually more and more growing to be a "second home page" for organizations on the web. Facebook has recently developed a good number of innovative possibilities for Pages to get increased traffic with the tried and true ways of search engine optimization. Making use of important web optimization techniques in your Facebook Page can help to accomplish progressively more Facebook devotees. Search engine optimization reveals your Facebook Page to Facebook's total userbase. In fact, Facebook themselves has taken big steps to improve its own web optimization in current several weeks and months, creating opportunities for Page managers to gain immediately whilst making worth for Facebook while doing so.

Listed below are TEN SEO techniques and tactics every Facebook Page user will need to understand:

1. Decide on the best title for the Facebook Page - and don't ever change it

Choosing the right identity on your Facebook Page is crucial. For instance, if your name appears too spammy, people will probably be less likely to talk about it with their associates on their own page and more likely to conceal your updates from their Facebook feed. Secondly, don't give into the temptation to choose a completely common page title. Due to the fact Facebook's intention for Pages is the fact that they will legitimately characterize businesses, brand names, as well as stars, Facebook has recently been disabling updates for common Pages.

The bottom line: work with your corporation's true title as the name of the page. And when you choose your Page's name, don't alter it. Facebook makes use of your Page name in the title of the Page, and considering that Google dings webpages when their particular titles change, changing your Facebook Page's name can cost you SEO points.

2. Select the very best URL for your Facebook Page

Facebook recently released the flexibility to choose a title in your Facebook Page, just about the most necessary SEO opportunities on Facebook as of yet. Facebook wants Pages to legitimately stand for the identities of businesses, and brand names having commonly used titles have been suspended rights previously.

The soundest solution would be to decide on a username which authentically presents your online business or company. As soon as you select a Facebook username/URL for your Page, it cannot be altered. So, look for a username you are going to become at ease with and reassured in for the future. If you have a company that specializes in replica watches, make the URL something to do with replica watches.

3. Use the "About" box to place key phrase-thick content at the top of the Page

One critical SEO approach that needs to be utilized in your Facebook Page whenever achievable is inserting key phrase-thick content as close to the top of the Page as it can be. Since Facebook restricts exactly where Page managers can place substantial sections of textual content on the Wall of Facebook Pages, the "About" box basically shows the best location in the CSS structure of the page to incorporate custom content.You will find there's 250 character restriction, so choose your words and phrases sensibly.

4. Use the "Info" tab to add extra critical key phrases, content, and high precedence backlinks on your Page

Facebook creates an "Info" tab for each Facebook Page which has fields made up of important illustrative data about the Page. It's imperative that you complete all these fields, for the reason that they supply the opportunity to add keyword phrases, content, and hyperlinks that may increase the content material rating within your Facebook Page for many kinds of Google queries. The specific fields existing could differ based on the type you choose for your Page whenever you create it, so pick out the class which most effectively meets your business needs.

5. Develop "Static FBML" boxes and tabs to place lengthy content material plus more static backlinks on your Page

While chances to place substantial blocks of textual content on the default tab of the Facebook Page tend to be quite restricted, Facebook enables Page managers to set-up supplemental boxes or tabs which could carry any type of subject matter, including text, images, and hyperlinks. Adding content boxes or tabs to your Page could be a terrific way to supercharge the score of your Page.

6. Publish direct backlinks aimed at your website inside your Page's stream

Status updates offer a highly effective solution to place direct backlinks at the top of your respective Page. Since Google increases webpages which link to relevant internet sites - and penalizes pages which link to irrelevant web pages or add a great number of inbound links too suddenly - posting hyperlinks in status updates can be quite an effective and reliable approach to increase your Facebook Page.

You can find 2 methods to submit hyperlinks:

1. Including the URL within the text of the status update itself.

2. Using the "attach link" function.

7. Add pictures with captions, activities with descriptions, and a conversation discussion board

This just about goes without saying, yet it's crucial that you regularly be spreading useful subject matter on the Facebook Page, along with always making use of all offered illustrative fields on every single kind of content shared. When posting images, apply lengthy and key phrase-thick explanations.Use the resources Facebook gives to your entire gain.

8. Have inbound links for your Facebook Page from the internet through posting backlinks towards your Page on all your websites

Just like a good number of inbound links from high-authority web pages help improve PageRank for regular internet websites, acquiring inbound links towards your Facebook Page may improve its PR as well. You can accomplish this with text backlinks, but Facebook in addition has developed a badge which it induces Page managers to utilize.

9. Get intra-Facebook inbound links by simply receiving a lot more Facebook supporters

For the reason that Facebook places hyperlinks to Facebook Pages on Facebook users' profile pages, which might be accessible to search engines, the more fans you get, the more backlinks you will have to your own Page inside of Facebook. For Pages with thousands of supporters, the volume of backlinks will surely mount up.

10. Reinforce intra-Facebook linking by getting followers to review along with like content in your stream

Whenever supporters comment or like content in your Facebook Page's stream, Facebook links their name back to their own Facebook profile page. Subsequently, once the profile stubs of those supporters who've put up feedback and likes on your own Page are listed, Google will discover more reciprocal links between your Page and your Page's followers, which it will see to be a much better relationship. This results in a cycle of enhanced link weight from the listed profile page stubs to your Page.

Nina Hirasawa is a shopping and consumer service expert. She is an established writer for two shopping guide magazines, and specializes in both on-site and off-site SEO, yoga, Internet marketing, replica watch websites and Facebook marketing.

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Basic Facebook Marketing Strategies to Generate Endless Leads and Dominate

According to Alexa, Facebook is the second most popular website next to Google. I researched more and found that around 30% of the global internet subscribers visit Facebook every day. Facebook currently has 300 million subscribers and is growing rapidly. 45 Million updates are made on Facebook every day and world wide users spend around 8 billion minutes per day.

What does it mean to you as an internet marketer? It is a large gold mine. Isn't it? However, How are you going to position yourself uniquely and promote your business on Facebook considering the large volume of updates being posted on Facebook every day? How do you grasp the attention of the Facebook users? The purpose of this post is to make you aware of the basic Facebook marketing strategies and tools that you need to successfully generate leads and dominate.

Always remember Facebook is a social network and should not be used to pitch your business. Prosperity in your Facebook marketing is directly proportial to the number of solid relationships developed with fellow users.So, Lets gets started

Facebook Profile

- A picture is worth thousand words. Make sure to add a picture in your profile
- Fill in your past info such as schools went and make it public so that people can find you through search
- Fill in your interests and make it public so that fellow subscribers could relate to you
- Fill in all your websites such as a blog, Twitter, your capture pages etc on your profile. By default, only your primary website is displayed. I would highly recommend to display all your websites in your profile. Anyone visiting your profile page could click on your URLS and learn more about you

Add Friends

After creating a profile, do not wait for things to happen. Go ahead and find and add few friends a day every day. It is advised that you can add up to 25-30 friends everyday. Excessive adding of friends will result in removing your page by Facebook administrators.

Interact with friends through like and comment

Once you have added a few friends and see their content on your home page, start interacting with them by liking and commenting on their updates. Commenting on updates could have a viral effect. When you comment on an update, your comment will show up on the updater's wall and is visible to all his friends. So, it pays to make intelligent comments and get traffic back to your page. Also, feel free to share quotes, posts, and videos that had a positive impact on you. Key is to interact with Facebook friends as much as possible.

Facebook Photo Albums

Feel free to share your pictures and videos with your friends on Facebook. People would love to know more about you through pictures and videos. If you have been to a networking event and have taken pictures with the leaders and fellow networkers, share those pictures with stories about the events and see the traffic to your website increasing

Facebook Videos

If a picture is worth thousand words, how much is a video worth? In 2009, video marketing has been growing rapidly and is here to stay. Facebook allows you to either upload videos or shoot a video instantly. More you share the videos, better it is. Do share your videos about networking events, funny incidents, achievements and any other video that could have a positive influence on others. I use the video feature of Facebook in a couple of ways and am seeing phenomenal results:

1. I introduce myself to recently added friends. A short video describing who I am and appreciating for friendship
2. I use instant Facebook video recording option to wish birthdays to friends

Facebook Groups

Group positions you as a leader and displays the value you can provide to fellow networkers. Facebook users who join your group can be converted to prospects for your biz by using effective attraction marketing strategies. It pays to establish a group and providing value to the members of the group through emails, invitations to an event etc. I also use groups in Facebook to identify like minded people and to promote my posts.

Facebook Events

Facebook allows you to create a public event ( viewable to all members of Facebook) and provides you URL that can be used to communicate on other social networks like Twitter, MySpace etc. I send an event invitation via email to all my group members. Event feature keeps track of the users status (attending, not attending, may be) about the event. I see an increase in numbers for the event when I blast a reminder email to people who were not sure or were planning to attend.

Facebook Wall posts

Evey user in Facebook has a wall where he posts messages and moderates the comments made. If you are a core Facebook user, I am sure that you must be posting and promoting your content on your wall. However, It is worth much more to learn how to post your content effectively on walls of the members having a huge number of friends. It can be done by giving a lot of value that could be beneficial to the users visiting the page. Facebook will disable your account if they see you spamming. So, be cautious while using this approach.

Facebook Notes

Do you have a self hosted word press blog? If no, I would highly recommend you to start blogging and provide valuable content. Facebook notes is an awesome feature you can use to make your valuable blog content visible publicly to all members of Facebook. Also, there are applications that imports your blog content into the notes in an automated way. Isn't that cool?

This feature would increase your blog traffic tremendously and ultimately your sales if you are using the blog as central hub/nerve center as I mentioned in my Attraction Marketing Blueprint post.

Facebook Applications

I am not a big fan of applications on Facebook as I generate enough traffic using the resources mentioned above. However, there are couple of applications that I personally use

Vuyou (Video Email Application): If you are an internet marketer and are generating leads through various marketing strategies like PPC, classifieds etc, you already might know the value of connecting with the prospect. I use this FREE video email application to connect with my leads as soon as they enter in to my sales funnel.

Networked Blogs: I use this application to increase the visibility for my blog. This is a cool application which allows Facebook users to subscribe to my blog and access my updates regularly.

Once you have these Basic Facebook Marketing tools in place, learn exact step by step Facebook Marketing Blueprint [http://fbsecretstrategies.com/?t=article] of how you can spend only 30 minutes a day to create at least 20 Raving Fans per day on Facebook and convert them into Paying customers and Distributors for FREE.

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