Category Archives: Business

Building Resilience in the Corporate World

Modern business life is likely a juggle of priorities – family, interests, friends, and work. All these are great factors of stressed that Ottawa-based entrepreneurs should be able to manage. Therefore, it is critical to learning how to cope with your stress so as not to negatively impact your business in Ottawa. The magic word here is resilience.

Yes, you need to build resilience through the following tips:

  1. Keep Control – Determine the things you can control and those you cannot. Too many unrealistic objectives or tasks will only lessen your productivity and will only add up to your frustrations. Combat this through proper planning and organization. It is also significant for you to accept tasks and situations outside of your own control. Accept that this will lead to stress.
  2. Always Have Positive Thoughts – Positive thinking equates to a positive mindset. This will serve as a factor in building resilience against possibilities for negative situations. Consider the available advantages and opportunities in each challenge. It will likely make you engage and succeed when you view tasks that positively stretch your abilities.
  3. Know Your Strengths and Make Use of Them – Work on your strengths and benefit from them. You will naturally perform your best the easiest way possible. Getting advantage of your strengths will strengthen your self-esteem and confidence. This will help you realize how to be successful and help you approach new challenges confidently and creatively. Make sure you still have energy in handling new tasks and stresses. Having healthy amount a of food, exercise and sleep is also necessary to go against stress.
  4. Determine Your Purpose – You should have clear values and a sense of purpose since you have a strong motivation and direction with concrete goals. Remain to be persistent when there are setbacks and equipped with well-developed skills in solving problems.
  5. Establish Confidence – Resilient entrepreneurs in Ottawa have their own strategies on how to cope up with stress. Their strong self-esteem allows them to put emphasis on their abilities and skills. They are also characterized of having a mindset for growth and learning.
  6. Have Structural Support – Note the association of physiological and psychological health with social support levels. Make certain that you maximize your social support by spending quality time with those who keep you going rather than those who are draining your energy.
  7. New Challenges – New challenges will give you the right tools for positive stress management other than creating a variety, enriching experience, and testing your potential. There would be insufficient opportunities to keep yourself better without passing through challenges.
  8. Being Adaptable – You are resilient if you are adaptable and flexible to the changing situations beyond your control, and wisely choose your battles. You have the capability to properly deal with change due to their optimism.

Practice and master these strategies so you can establish resilience and better deal with the changes and uncertainties in entrepreneurship and personal situations. Moreover, checkout the website called Business for Sale Ottawa to get information on business-related issues.

Tips for Internet Marketing Business Plan

marketingInternet marketing refers to online advertisement efforts that employ web-based tools, such as emails and dedicated websites, to market and increase the sales of their clients. Over the past decade, the number of Internet users has grown exponentially, and it has today became a very lucrative place for advertisement and marketing. Needless to say, Internet marketing is a requirement for any business or service provider these days.

There are several websites out there presently that provide this service. If you would like to venture into the field of Internet marketing and start your own online marketing business, you need to have a solid plan to begin with. This is one of the most fundamental of its aspects, and is essential for increasing the chances of success of your business. Presented below is a generic business plan for Internet marketing, which you can use to get started in this field.

How to Set Up an Internet Marketing Business

Getting Started
First and foremost, it is imperative for anyone desirous to start this business to have a good idea about several marketing strategies. It is vital to stay up-to-date with the latest case studies, take overs, and other similar activities. They may not all be Internet related, but they are, nonetheless, required to gain an understanding of the market and its components.

Using Online Tools and Techniques
Next, you need to learn how to set up referrals on Google AdSense and Google AdWords accounts (for potential clients). Before you start working on a project, you should search online (Google) for related and relevant websites and blogs. This can assist virtual participation and increase online visibility. Further, this can allow linking and back-linking as well. Do make sure, however, that the company which has retained you has provided you with the rights to participate virtually on their behalf.

Marketing Yourself
Once you have built a good enough marketing knowledge base, you need to market yourself in order to get clients. You need to use online marketing strategies which would be applicable for small businesses and would help promote your website as well. Google AdSense and Google AdWords would work very well for these.

Ethical Aspects
Business ethics are the secret to running a successful business. Make sure that you deliver to your clients what you have promised. This will make them stick with you for a long time, and will even lead to word-of-mouth publicity.

A lot of organizations these days prefer to market and advertise via the web, simply because that is where the whole world is now. Nonetheless, some businesses will not profit from the Internet as much as they would otherwise. In case of such businesses, you could assist them with online earning options, rather than marketing. This would help you further expand your customer base.

Important Business Tips
1) Start Slow: Many new Internet marketers can be seen working on 10 – 15 projects simultaneously, ultimately ending up completing none of them. Thus, it is advisable to start slow with a limited number or projects and clients, whom you can do justice to. Make sure to finish one project before moving on to the next.

2) Keep it Simple: While making your website attractive by using a lot of colorful images, animations, and effects may help it get noticed, it will also increase its loading time. It is better, therefore, to keep it simple and elegant. One idea that works is to view your website from a potential visitor’s perceptive, and make it such that it is easily navigable and allows the user to quickly find what he is looking for.

3) Strategize Wisely: Before taking projects, you need to study the different online marketing tools and techniques and come with a strategic plan of action. It is important to take note of expert advice, and also use tried and tested methods. At the same time, however, you should also try to come up with an innovative marketing strategy that will work for your purpose.

4) Generate Traffic: Most marketers feel that once they have a good website, the traffic will automatically come. However, unless you make a proactive effort towards attracting traffic, this is not going to happen. For this, you will need to use one marketing strategy at a time, until you see the traffic flow.

5) Stick to the Plan: Even though the initial phases of your marketing plan do not generate traffic, it may happen that the final stages do. Hence, once you have begun implementing a plan, you should stick to it until all its phases are completed.

Tips Raise Money for a Business

The capital is one of the first things that needs to be taken into consideration when one is setting out on a business venture, and there are many different sources to obtain this capital. It is not necessary to stick to one particular source rigidly; even a combination of various different sources can be used.

Anyone who is wondering how to raise money for a restaurant, a start-up, an advertising agency, or any other small-scale venture should keep these methods in mind. Approaching the right people for it is vitally important for the success of the business, and if this is not catered to properly, it will be doomed from the very beginning.

Personal Savings

This is the most obvious source of money for starting a business. If you have saved up enough money over the years, go ahead and make use of it to serve the underlying purpose. You will not be answerable to anyone, and you will not have to worry about repaying someone. If you choose this option, ensure that you are not using all your savings though. Many people neglect this option because if they lose it, they will have nothing left to live on.

Venture Capitalists

This is the next most obvious source for your initiative. Venture capitalists are professional agencies who put in venture capital into an upcoming business. What they get in return is either its share, or a share of the profits, or pretty high interest rates. It may sound like exploitation, but this is one of the best ways to get money. Venture capitalists are always looking for new and innovative business ideas that are likely to succeed.

Bank Loans

Another answer is to approach a bank for a small loan. With banks, you will not be required to pay a very high interest rate, but you will need sufficient documentation about the business model of your initiative. Along with that, your credit history and financial stability will also be scrutinized, in order to find if you are worthy of getting a loan. Most people would love to get it, but are simply not eligible. This is especially true for someone looking to collect the money, without owning any fixed assets.

Angel Investors

These are a refined form of venture capitalists, but many people think that they mean the same thing. Angel investors are less demanding than venture capitalists and remain with your initiative in the long run. Usually, these are someone who you would know personally, and they are simply looking for ways to get a higher return on their investment. How companies raise money depends a lot on the nature of the business and the method of entrepreneurship adopted. Angel investors also help them by providing some guidance and mentoring.

Personal Borrowings

Here is a method that should be avoided as far as possible. You can borrow money from someone you know, namely your friends, family, or other people. The problem here is that once you mix business and personal relationships, things start to get a bit sour. This is a situation that needs to be handled with great tact and diplomacy, and not everyone can manage to do that. Still, this is a method that many people consider.

Advertising

Here is another answer, but one that requires a suitable amount of investment and more than a fair share of patience. If you can handle the advertising of your upcoming company well, you can get more than enough money to sustain it in the long run. There are some websites that also allow you to advertise your business plan and then suit you up with a matching investor. This is a slightly unreliable method for sure, but it works wonders if one can find the right match.

Other Options

One can approach some small-business investment companies, business development commissions, life insurance companies, or a money broker. The reliability of these options will not be very high, and their demand may be exorbitant, but if you have run out of all other options, then this is something that you will need to resort to.

Cost Cutting Ideas for Businesses

cost-cuttingIn times of a tough and difficult economy any business owner needs to keep a track on his expenses in spite of results showing strong sales, simply because escalating costs can eat into profits within no time. Much too often business owners grow frustrated with weak sales and rising costs only to make fatal mistakes while cutting costs. Some of these follies are, firing or reducing the sales team, cutting down on the marketing budget or eliminating systems or technology that increase operational efficiency. Now, provided an entrepreneur stays away from such fatal decisions he/she can adopt some of these cost cutting ideas that will surely boost his cash flow and enhance the overall health of the business.

Assess Company Finances
One of the first cost cutting ideas in the office is to prepare a detailed record of the expenses. Prepare a per month or quarterly income and expenses report that will include all details of what are the needs of the enterprise, how much is currently being spent, how much is the budget allocated for every section, and how much can be saved. This will give a general idea as to which all areas should be considered for cost cutting.

Improve Personnel Management
Instead of laying off employees, the management can stop hiring new employees, and utilize the services of the present employees to the fullest. Effective personnel management is the key to cost cutting. Assign tasks to employees who can do their best in those particular tasks. Set targets and ask employees to meet them in the allotted time. Do not deal with consultants, since they have to be paid more as per their level of experience and expertise. If the work to be done is substantial and requires manpower, one can recruit talented and skillful freshers. These freshers in order to gain more experience, will do both quality as well as quantity jobs.

Cut Administrative Expenses
Administrative costs also have a major part in the increase of the enterprise’s operation costs. Instead of purchasing equipment and tools, a better cost control method is to take them on rent. If one wants to buy equipment, getting used but operational ones is a good idea to save on costs. In buying office equipment, opt for good equipment with discount or search for a purchasing partner. Make sure that company employees use the office equipment to its fullest and do not waste any. Ensure that employees do not use office phones for personal purposes. Use electricity only if it is absolutely required. Make sure everything that is purchased is used in the best possible manner.

Learn Waste Management
In any business, service or manufacturing, there is bound to be waste. Waste management can be one of the key contributors to cost reduction. Going paperless can help the firm to save lots of money. For any internal communication, technology can be used. If the firm is a manufacturing unit, all the recyclable production waste should be processed and reused and the rest of the waste should be disposed off properly.

Look for New Business Models
By changing the approach with which one runs the business, cost cutting can be achieved. There are many business models that suit every industry. One has to choose the appropriate business model. However, one also needs to be careful while doing so. If the right decision is not made, things can be worst. Changing the business model is a crucial decision, and the necessary steps should be taken without hastening.

Review the Available Equipment
In all organizations there are excessive equipment like, office tables, chairs, cupboards, desktops, etc., that are either damaged or are not used at all. Such equipment can either be reused or disposed off.

Reassess Vendor Contracts
There are many outsourced functions in every firm and vendors are hired for all such activities. All such contracts should be reviewed. Fresh talks can be initiated with potential vendors and after comparison of the cost incurred, the vendor can be finalized. This activity can help cost reduction in a big way.

Review Marketing Strategies and Plans
As marketing is a vital part of any business, a lot of finances is spend on it. Get the details of all marketing strategies and programs that are not giving good results. Reinvent those marketing plans and relaunch them in a new and effective manner. If possible, one can even eliminate such ineffective and cost-consuming programs. Instead of spending much on advertising and marketing, one can use the records and clients’ references to draw in more business. Eliminating unnecessary marketing will surely reduce the company costs substantially.

Rethink Office Rent/Lease
If the office from which one is operating is leased, then one can look for a cheaper location. Except for service industry like hotels, spas, etc., change in location of the office will not affect the customer base. Instead, there are chances to increase the clients due to relocation.

During financial crisis, one is bound to look for short-term benefits. However, it must be also remembered that the decisions taken at such crucial times can also have a negative effect on the future of the firm. So, one must focus on the long-term benefits before taking any such decision.

Learn How to Save More Money

It is simple logic! Cut down all the unnecessary expenses and soon, you will be saving much more money. A good idea to do this is to prepare a list of items that you need before you set out shopping and then stick to the list! If you are staying at a bigger flat, consider renting a smaller one. Likewise, cut on your telephone bill, entertainment expenses, give up any membership of a club or a gym that you have but not used for ages, keep only one credit card, etc.

Make a Monthly Budget

Inculcate the habit of making a budget every month, listing all your expenses and incomes. During budgeting, ensure that you save at least fifteen percent of all your income. This way, you will know that you have only an X amount of money to spend, as the rest has to be saved for the future.

Pay Cash

If plastic money has made shopping convenient and safe, its biggest drawback is that we do not think twice before buying something which is way beyond our means. To save more money, it is suggested that you make most of your payments through cash. This will ensure that you do not buy something for which you don’t have immediate cash available, thus saving a lot of money for you, which you would have otherwise paid as interest on credit card installments.

Cook at Home

One of the ways to save extra money is to cook and eat food at home. If you ever calculate the amount that you spend on eating out, you will be amazed that collectively it runs in thousands of dollars per month. So one of the tips for saving money and also for a healthier and hygienic diet, start cooking on your own at home!

Shop Intelligently

Another money saving tip is to shop from places where you get discounts and good deals. You can buy grocery in bulk and look out for discounts when you buy clothes. You can even get good deals in thrift stores, yard sales, stock clearance, garage sales, second-hand goods shops, end-of-season sales. Websites such as e-bay offer a cheaper and convenient alternative for buying stuff. Also, stop impulsive shopping; do not buy stuff you want but don’t need.

Earn More

If you feel that you need to save much more than what you are doing right now, supplement your current income by taking a part-time job. You can even think of making more money by starting your own home based business.

Invest Properly

Investing wisely is very important so that the money does not lie wasted in bank accounts. Cut down on your expenses and increase your avenues of income generation, and invest wisely in real estate and long-term schemes for a safer future.

Save on Electricity

By conserving energy, you are cutting your expenses and at the same time contributing to save the environment from global warming. Make sure you switch off the lights, fans, TV and all other electric appliances when not in use. Buy energy efficient electrical appliances, use devices which operate on solar energy, lower the thermostat in your house by two degrees during winter season, and raise it by two degrees during the summer season.

Use Public Transport

A good idea is to travel by public transport. If the distance to be covered is less, you can even walk down, instead of spending money on filling gas in your vehicle.

 

Tips for Become a Finance Director

The finance department is one of the most important departments in any type of organization. This department has to handle financial transactions of the firm and plan on investments and raising of funds for funding ongoing projects. As no project can be completed without money, the job of a finance director assumes further importance. Finance directors work in the areas like resource management, strategic planning, preparation of a financial budget for the financial year, supervising company’s financial performance and preparing financial reports for outside agencies like creditors and shareholders. Ensuring that the firm’s asset quality is high and debt levels are comfortable, are also some of the responsibilities of this job. Being the leading person in the department of finance, the finance director has to form teams, assign work and help in planning as and when they need. In short, the ultimate aim is to make sure that the firm achieves its financial goals or objectives in a planned way.

High School Preparation
Sincere efforts taken during this stage of one’s educational career pays off greatly. So, take special effort on subjects like economics, finance, mathematics, English and computer science while you are in high school. Get excellent grades so that you are not denied admission to top business schools to get deeper knowledge of finance.

Get Your Graduation Degree
Getting a graduation degree in accounting or finance is essential to pursue this profession. If you look at the track record of the Chief Financial Officers (CFO’s) of top companies, you will find that all of them have passed from top business schools. So, you need to try to do your MBA in accounting or finance from the top business schools in the US. As a student of finance, you should have ability in the following areas:

  • Financial management
  • Managerial economics
  • Management accounting
  • Costing and budgeting
  • Preparation and analysis of financial statements
  • Mergers and acquisitions
  • Fundraising through different routes

During the course of your study, you will be taught these subjects by expert faculties, hard work and passion for knowledge can lay a strong foundation for a successful career in finance.

Become Assistant Finance Controller
Becoming assistant financial controller/assistant manager would be your next target after gaining experience in accountancy and auditing. By working at a managerial position, you will be able to sharpen your business skills and prepare yourself for future challenges. It would take around five years to become assistant finance controller.

Enter the Senior Management
To become a finance director, you first need to enter the senior management of the company. This is possible after gaining around ten years of experience in the field of finance. As a senior management professional, you will be involved in strategic planning, decision-making, chalking out expansion plans and fundraising. After spending some five to ten yeas in senior management position, you can then be eligible for this position.

Intern at a Major Finance Firm
During the business management course, students have to do their summer internships in financial and banking giants. Here, they get practical work experience and can apply their classroom knowledge. You will need to have good educational record to get internship at top firms in investment banking and asset management. A successful internship can help you get final placement in a top firm after you compete your course.

Become Auditor/Accountant/Finance Associate
After you complete your university education, you need to work as an auditor/accountant (junior level) initially for a few years. Then, with proven ability, you can become senior accountant or senior business analyst.

Information on Funds for Small Businesses

funds-for-small-businessesObtaining the necessary funds to kick-start your small business start-up can be quite a challenging task. But before you get dejected, lets first take a look at what the numbers have to say. The average small business start-up cost to become an affiliate marketer for instance, is somewhere around $250, which is a small investment when comparing it with a $30,000 cash deposit, that is required to start a franchise.

But when you take into consideration all the other additional monthly expenses like rent, advertising, payroll and inventory, then you know that starting a small business is no ‘small’ deal. So, coming up with the necessary cash to fund your business can be very difficult when you have a car loan to pay, a mortgage to take care of, and a family to support.

Going the traditional way and opting for a loan from your bank won’t really get you very far, especially when you consider the fact that they don’t like lending out money to start-up businesses that have no assets or history. But, again do not let this dampen your spirit. It is time to take a look at all your personal assets. You never know, you might actually already have the required ‘wealth’ to get your small business started.

Sources for Funds

Here are some sources:
Life Insurance Policy
401(k) Plan
Friends and Family
Credit cards
These are all potential sources that can be tapped into. In doing so, you will raise money out of your own resources. It will give you full control over your money. And this control is the very thing you wanted in the first place right? That’s why you chose to become an entrepreneur!

If you do have a life insurance policy, then you can put it to work. Though it sounds weird, think about it – a life insurance policy will provide money to your family and spouse in the vent of your death. What most people don’t know is that you can actually borrow against the cash value of the life insurance policy, and then pay it back at flexible rates, on your own terms.

Next, you have the 401(k) Plan from your previous employer – all those monthly statements that you filed away so diligently but never cared to even look at. Though the whole concept of borrowing money from friends and family to start your business may sound like a simple one because you already have an inbuilt level of comfort and trust with them, but you need to understand that there are many risks involved as well. If things go smoothly, then you’ll probably be the Donald Trump or the entrepreneurial king of your family or your friend circle. But, if your business goes down the drain, then it will put stress on the relations you had with those closest to you. So, is this risk worth taking?

Now, take a long hard look at your credit card. The one that you used to buy that dinner, your computer, and those new shoes – yes this credit card can help you get your business off the ground. If none of these resources work for you, then you can always take the traditional route and opt for bank loans.

Business Loans Available
Long-term loans are probably the most common types of loans available. These loans can be used as a working capital funding source and you can repay them on a monthly basis over a term agreed with your bank or financial institution.
Short-term loans on the other hand are supposed to be repaid within a year in a lump sum, instead of monthly.
Credit lines are usually used for working capital funding. Instead of granting you the entire loan amount, the financial institution will give you a certain amount each year.
Some Other Sources

When looking around for small business funding resources, your bank should be your first stop, especially if you have a history of working together before. Familiarity does go a long way in clearing any insecurities and doubts. There are many other types of lenders as well, the only differentiating factor between each of them would be the kind of loan they grant – secured or unsecured. Banks grant unsecured loans, while financial institutions are in favor of secured ones.

Strategies and Tactics Effective Marketing

Organizations spend so much of their time, effort and money on coming up with them, the answer is quite simple. The aim of any business is to generate profits, and marketing strategies do exactly that – they help generate more business and revenue. They are devised not only with regards to selling and promoting a product, but also about the kind of customer service that the organizations will provide. Below is a list of some of the most successful tactics, which businesses have been implementing in today’s modern, competitive business scenario, to earn revenues and to keep the competition at bay.

Effective Marketing Strategies

Build Relationships

  • People are very important in business, whether they are customers, suppliers, or employees of the organization.
  • It is necessary to form relationships with one’s customers so that they come again to make repeat purchases.
  • Relationships need to be built with employees as well so that the organization has a positive word of mouth in the market.

Differentiate from Competition

  • One of the most successful of marketing techniques is to create your own identity, which is totally different from the rest of the competitors.
  • A good way to do that is to stay ahead of the competition by offering innovative, technologically-advanced products.
  • For this, a business’ market research should be very strong, so that change is anticipated in advance and action taken accordingly.

Create Advertising Campaign

  • The advertising campaign should be such that it highlights all the advantages and strengths that a company’s product and services have over the one’s offered by competition.
  • The unique selling point, also known as USP of the business, can be something like an excellent after sales service or a guarantee period, which is much longer than what is offered by competition.
  • This should be creatively stressed upon in the advertising campaigns.

Offer New Products and Schemes

  • This is one of the most effective and commonly-used tactic by many businesses today – new products as well as new schemes are offered to customers from time to time.
  • When a business introduces new products in the market, its customer base increases as new customers purchase this product.
  • At the same time, when old customers see some new innovative features in the latest product, they make further purchases too.
  • This increases the sales volume as well as revenue for the business.
  • Another way to increase sales, is to offer some new schemes during the festival and holiday seasons, such as one product at fifty percent discount on another one, especially if the business has some unsold stock of goods lying beforehand.

Implementation of the Strategies

  • The strategy that is set should be very realistic and measurable. It should also be applicable for a very long time.
  • For proper strategy implementation, measurable goals should be set.
  • Goals can be defined in monetary terms, such as doubling the sales revenue in six months.
  • Once the goals are set, a strategy that sets the business apart from competition should be devised and implemented at the right time in the market.

Proper formulation as well as appropriate implementation of strategies is equally important for them to be truly successful. This however does not end here. Post their implementation, measuring how successful they have been in generating revenue and sales, helps in the formulation of strategies for the next year.

How to Advertise for Your Garage Sale

One man’s trash is another man’s treasure. This idiom perfectly describes the joy that is a garage sale. While you may consider an old heart-shaped coffee mug one too many for your pantry, it may be just what another is looking for to complete their quirky collection. A garage sale is the perfect way to get rid of old, unwanted stuff and make some money out of it. But how do you get people to actually come and help take all this stuff off your hands? You advertise. You advertise big time! You let everyone know that you’re coming up with this to-die-for garage sale that no one in their right mind would want to miss. You make it out to be the ‘garage sale of the century’ and we tell you how.

Use the Internet

The Internet is and will probably remain the most hassle-free way of advertising, be it your garage sale or a corporate giant’s next big product. There are scores of websites that offer listings for garage sales. Craigslist and eBay are two prominent websites that offer this service. You can also Google your town or city and check for local, community-based websites that will let you post a classified.
Yard Sale Search is another great website that offers listings for yard and garage sales throughout the country. In addition to dedicated portals, you can also use your Facebook account to spread the word about your forthcoming event. Create a page, an event, a group, or even an ad that lets people on your friends’ list know that you will be organizing this huge garage sale. When you use these portals, ensure that you describe at least a few of the items you intend to sell. Keep the descriptions short, but attractive. Get them hooked, and you’ll see them flocking!

List in Newspaper Classifieds

Another tried, tested, and quite successful way of advertising a garage sale is in a newspaper classified section. Contact your local newspaper, and check how much they charge. The tricky part here is adhering to the word limit according to your budget. Every word you use will count. So, use them wisely. Say as much as you can in as little as you can. It’s much easier than it sounds.

Make Awesome Posters

While there are other easier ways to advertise, nothing beats the charm of a good ol’ neon poster beckoning passersby to this grand garage sale where they might find the bargain of their dreams. To ensure that your sale attracts hordes of people, pay attention to the following points while making posters.

  • Use bright-colored paper. If people cannot see the poster, they won’t bother reading it.
  • Avoid using multiple colors. A single color will help people identify with your sale.
  • All your posters should look alike. So, if you’re not sure if your 8-year-old kid or the neighbor’s teenage daughter will get it right, do it yourself. Printing is an option, but it’s just more expensive.
  • Use a good quality, permanent marker to write on the poster. Ensure that the writing is neat, tidy, and legible, even from a distance.
  • Include all and only the necessary details on the poster. The date, address (with landmarks if required), and your name and contact number are the most important pieces of information that should go on it. Anything else is supplementary and shouldn’t crowd the poster.
  • Put them up on busy streets that lead to and away from your house. This way, the posters will be visible to people traveling both ways.
  • Make sure there are big arrows guiding people in the direction towards your garage sale. You can also try something humorous like putting up posters that say ‘If you’re looking for ABC’s garage sale, you’re going the wrong way’ on roads that are away from your house. You never know; it might just interest someone.
  • After you put your posters up, drive past them and see if you can read them clearly. If you can’t, chances are no one else will be able to either.

Make Fliers
Fliers are also one of the best ways to advertise the garage sale. They could be just down-sized versions of the awesome posters that you’re putting up, so follow all the pointers listed above for them as well. If you’re getting your posters printed, then getting them in a smaller size shouldn’t be a problem. In fact, it will be more convenient to do so. If you’re making your posters by hand, you can try something different with the fliers. Maybe a different color or a different tone. You could even offer a free drink or snack for everyone who visits the sale. Put these fliers up on notice boards in convenience stores, cafés, community centers, schools, and any other place that sees a regular flow of visitors. Trees and electric poles (if permitted) are also great spots to put up fliers. Make sure you paste them on the poles. Using staples might pose a hazard for linemen.

Plan the sale well in advance so that you can clearly allot enough time to devising a good advertising strategy. On the day of the sale, make sure you have a big sign right in front of your house welcoming people to the best garage sale ever! Apart from advertising, make sure that the area you use for the sale is clean and tidy. If you’re using your lawn, make sure the grass is cut and the soil isn’t too wet. As a source of entertainment, you can play some soft music in the background. This will set the mood as you mingle with everyone helping them out with their purchases.

Advantages of Partnership

The other day, I was approached by a friend who wanted to start a new business, and offered me to be a potential partner. Even though it charged me up to the core, it made me anxious when I envisioned the forthcoming challenges in our transition from friends to business partners, and establishment of a business relationship with him. A partnership is successful when you’re in good terms with the person you’re going to work with, but it may not always be true. After all, just like any other venture, there can be many advantages and disadvantages of partnerships.

In simple terms, a business partnership accounts for a relationship that exists between two or more individuals who undertake and carry on a business. Partners contribute funds, property, skills, and labor, and are expected to have an equal share in both the profits and losses made by the business. While partnerships are easy to establish, there are also many positive and negative aspects they involve later on. It is always recommended you learn the various pros and cons that the business of partnership entails. Hence, following are the essential points which talk about the pros and cons of partnerships. Check them out:

Advantages of Partnership

  • Simply put, more than one owner of a business introduces more money to help starting a business.
    2. There is a combination of talents, skills, and experience with the involvement of new partners, which may help in increasing the profits and cost-effectiveness of the business.
  • A partnership brings about better administration and financial planning which is otherwise difficult in case of a single owner of the business.
  • It is easy to expand the business with new partners being involved, since there is no hassle of managing the entire business on one’s own.
  • All partners have an equal say in the matters of financial management, which fosters them to work whole-heartedly for the betterment of their company.
  • Post the payment of super tax to the government, the profits made by the company are equally divided among the partners. It is then that they can pay tax to the government on the shares of profit they’ve received.
  • In case of a loss, partnership renders moral support, thus, enabling for an even more insightful point of view.
  • There is lesser room for rash decisions as the decision-making process is the field of performance for al partners.