What is a Business Coach?

Roger Federer World's best tennis player, Kobe Bryant World's Best Basketball Player and Michael Phelps World's best Swimmer. All these Individuals are the best in there field yet they all have coaches to make sure they stay on top and constantly improve. Business Coach is required for the very same reasons by business owners. A coach sees things that business owners don't see or are not aware of. Business owners have tendency to get involved into their day to day operation of the business and along the way may pick up bad habits and really not move forward with times and become stagnated. A Business Coach helps the business owner stay focus on track in running the day to day operation for there business. Your business may have a plan, but business coach helps you implement that play and with time management. Doesn't matter how long your experience is a business coach always gives you a different perspective in growing your business.

Abdi Aslani
President

Why Should my Business Accept credit cards?

Most if not all retail establishment accept Credit Cards. Commonly Visa/MasterCard/Discover and American Express. American Express is processed Independently and separate from the rest. They have their own rates/guidelines that no processing company can have any say in it. Not usually beneficial to accept American Express as business owner because it is more expensive. What many retail business owners are unaware of is that they can promote their business and increase revenue by 50% by offering Gift cards & Loyalty Cards. By you accepting credit cards you can add these two features that cost a fraction of any advertisement you have in any phone book, other Ads, but it is more effective for the following Reasons:
1. These cards have your logo & phone number that people Carry in their wallets which is consistent reminder of your business.
2. About 10% of people don't use their gift cards which means money in your pocket for no service
provided.
3. People that use the gift cards spend about 50% as a result you additional revenue & new customers
4.Loyalty Cards are a way to reward your customers by giving them incentives to come and shop from you versus your competitors. The incentives can be customized to the nature of your business. This will increase your return business.

Those in the service industry commonly ask why should I accept credit cards? The answer is simple about 40% of people prefer to pay with credit card or do business with those companies that accept credit card. When they do use their credit cards they spend approximately 50% more. So by you not accepting credit you are losing money and customers.
The other objection is the cost. Well all businesses have costs. But accepting credit cards will normally have 60 times return on your investment. IT IS ONLY A COST IF YOU DON'T USE IT. Further more most service related business do not require to buy or lease an equipment they process by phone via virtual terminal. See link for more detail.
 http://sales.payjunction.com/ams/flash/start1.jsp

Abdi Aslani
President
ARA Business Solutions, Inc
  

Importance of Business plan.

In 8 years of corporate banking, many of it spent in small business banking I have came across many business owners that established their business based on an idea or an assumption that the business they are getting into is going to be is going to a profitable one. Some have experience and some do not have any experience in the industry they are about to part take. Whether or not you are experience in the industry you have a very slim chance of succeeding if you don't have a good business plan. A business Plan engages you in the challenges and the cost and the potential of the business before you start. If done correctly a business is your key to success that should be reviewed annually.
Is it ever too late to do a business plan? NO
Better late then never to start a business plan to help to take business to the next level.

Abdi Aslani