The goWholesale Blog
The Resolution Quandary
December 31st, 2007
Do you know anyone who actually achieves their new year’s resolutions? And I don’t mean the resolutions like “I won’t eat chocolate for a week.” I’m talking about the long term, takes-the-entire-year resolutions.
You do?
…………….Really?……………
I don’t believe you.
Well if you truly do, or you are one of those amazing people, that’s wonderful (and thanks for making the rest of us look bad). But if you are like me (and the majority of the population) if you even bother getting around to jotting down a few resolutions the likelihood of them coming to fruition are about as good as getting Britney Spears to clean up her act (possible, yes, but definitely a stretch of the imagination).
So what do people like us do when the new year is upon us? Well, we usually roll our eyes at the Resolution Setters. But in the back of our minds we know that that really isn’t such a bad idea. Especially when it comes to your business. Let’s be honest. There are bound to be areas that weren’t as strong in the past year that you want to work on this year. Perhaps it’s keeping better records? Maybe you want to improve your website or customer service?
Setting goals for your business is going to help focus your efforts in the coming year. So whether they are company wide, division wide, cubicle wide or personal business resolutions, just set a few reasonable ones to get going on this year. Don’t worry, I won’t tell the others you did.
Need some ideas? Here are some New Year’s resolutions for your business.
From all of us at goWholesale.com, we wish you a healthy, happy and successful New Year!
Posted in General Discussion | No Comments »
Ahhh the Almighty Company Card….
December 28th, 2007
“With great power comes great responsibility,” a great man once said… that great man was none other than Spiderman’s Uncle Ben. My apologies for using the word “great” 4 (count ‘em) times in that sentence. Regardless, the statement is true and applies in business as much as anything else.
Many businesses will have a company credit card (or two or three or….) that is designed to be used for business related expenses. Now, what your business constitutes as a “business related expense” is clearly up to whomever is responsible for those cards. In general, employees should be able to use their best judgment when using the card but it would be wise to have in place a written policy on what acceptable use of the card is and what is not. Far too often employees get themselves into trouble by using the company card for personal expenses but the businesses get themselves in trouble by not clearly drawing the line. So by having the rules in place and easily accessible, you should be able to avoid any messy situations.
Here are some things to think about:
- Come up with a clear definition of “business related expense/purchase.”
- Authorize only those who absolutely need to use it.
- Keep accurate records of expenditures by examining the monthly bills–if anything seems suspicious, address it immediately.
- If you allow things such as “business lunches” to count, and you find your employees are abusing this, place restrictions on the number of lunches per month or perhaps the types of restaurants these lunches can take place.
We’d all like to believe our employees are perfect little angels but the truth is that no matter how nice and honest they are, it is a part of human nature to push the limits and perhaps abuse privileges. So take a moment to make sure your company credit card is in good hands (or at least is protected from the bad ones) and you will save yourself a lot of time and money in the future.
Posted in Finance and Accounting | No Comments »
Alternative Marketing for Start Ups
December 27th, 2007
If you are a budding business, you know that in order to be successful, you must think creatively. One of the areas of your business that lends itself perfectly to this is marketing. After all, it is by nature creativity oriented/driven. This article from the Hyper Passionate Entrepreneurs blog should help get the juices flowing!
Posted in Marketing Your Business, Starting a Business | No Comments »
Merry Christmas!
December 24th, 2007
From all of us here at goWholesale we wish you a very happy and safe Christmas!
Posted in Announcements | No Comments »
Is an MBA really necessary?
December 20th, 2007
MBAs (Masters in Business Administration) are one of the most popular degrees our country offers. But there is a lot of dissension amongst business people as to whether you actually need one to get ahead and/or to be successful. Numerous polls and surveys have been conducted on the subject, but unfortunately the results are usually skewed.
Graduates of the top business schools in the country say yes, an MBA is necessary but this could be seen as merely a recommendation for their alma mater. But in polls taken from less niche populations, the results are a little less black and white. Many say that while an MBA is a nice neat little package wrapped with a bow, everything you need to know to start and run your own business can be learned sans formal education.
So I suppose the bottom line would be that if you can afford the time, money and effort, an MBA is beneficial, but if times are lean, you can still succeed if you make a point to educate yourself.
What are your thoughts?
Posted in General Discussion | 1 Comment »
Ways to earn extra cash for your business
December 19th, 2007
If you are a business owner you are probably always keeping your eyes open for ways to make an extra buck. Here are a few ideas you may not have considered.
1. Enter contests for businesses: Sounds a bit strange right? But it is actually a viable way to get some cash for your business. Many large companies are now looking for “the next big thing”, and run numerous contests to find it. For example, Richard Branson (owner of Virgin Atlantic Airways) has given large sums of prize money to the Best Entrepreneurs in the past.
Additionally, if your business is chosen as a winner of one of these competitions, you might even find that the sponsor gives you a manufacturing deal, or similar incentive. For more details and examples, just do a quick search on Google or similar for “business competitions”.
2. Get Sponsored: This may seem difficult at first glance but the rewards are worth the effort. Traditional advertising can be expensive so more and more businesses are taking this route. Corporate sponsorship involves advertising a company’s services in return for payment. This can come in a variety of ways for example, if your business is a bathroom accessory supplier and your website is getting a lot of traffic, you might find that a tiling company wants to pay to advertise on your website. Or if you manufacture flowerpots for gardens, you could advertise a certain brand’s fertilizer or similar. There’s a host of options available here, so look at what business complements yours, and consider sponsorship or even an affiliate partnership.
3. Establish a line (or lines) of credit: By establishing a line of credit with suppliers and banks you will be able to free up some extra cash. Lines of credit allow you to make smaller payments over a longer period of time and if you are responsible with them, will also earn you the trust of your suppliers and/or banks.
Finally, you could also have a clearance sale of old stock, or offer family members shares in the company for investment. Take the time to make some inquiries, or speak to your financial adviser and brainstorm some more ideas.
Posted in Finance and Accounting | No Comments »
Thank You
December 18th, 2007
I just wanted to thank all the bloggers that participated in goWholesale’s very first giveaway! They helped make it a success.
BusinessPundit.com
The Business Opportunities Weblog
Please check them out as they all have great things to offer!
Posted in Announcements | 1 Comment »
Don’t feel so bad…even the big guys make poor choices.
December 18th, 2007
Today CNN published an entertaining list of 101 Dumbest Moments in Business 2007.
These were some of my favorites:
Way to stick it to the fat man. Disneyland announces plans to close the “It’s a Small World” attraction to deepen its water channel after the ride’s boats start getting stuck under loads of heavy passengers. Employees ask larger passengers to disembark - and compensate them with coupons for free food.
The little girls in this country don’t have a chance… Summit Products of Trussville, Ala., introduces the YOUniverse Funk Fone, a working telephone for little girls that bears a striking resemblance to the footwear worn by dancers at Scores.
Wow. Just…wow. To test Google’s ability to block harmful advertising, Belgian IT security consultant Didier Stevens posts an ad that reads “Is your PC virus-free? Get it infected here!” It is accepted by Google and displayed 259,723 times; 409 web surfers actually click on the ad.
AND THE DOOZY:
Honest mistakes can cost you dearly. To promote the speed of its Core 2 Duo Processor, Intel releases a print ad featuring six bare-shouldered black sprinters crouched in their starting positions beneath a white guy dressed for the office. “We made a bad mistake,” says Don MacDonald, the company’s director of global marketing. “I know why and how, but that doesn’t make it better.”
Posted in In the News | No Comments »
Sure-Fire Tips For Hiring Qualified Employees
December 17th, 2007
Listen up! This is one of the most important aspects of your business process. Do it right, and you may save yourself some headaches in the future!
Sure-Fire Tips For Hiring Qualified Employees
Posted in Articles, Hiring and Human Resources | No Comments »
If You Want To Keep More Profits, Then Keep Good Records
December 17th, 2007
It should go without saying but surprisingly, many business owners become slack about keeping accurate records. This article just serves as a reminder!
If You Want To Keep More Profits, Then Keep Good Records
Posted in Articles, Finance and Accounting | No Comments »
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