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How To Make 2008 Your Best Business Year Ever

Written by: Jay Hamilton-Roth

Article Overview: Start your year with specific and measurable business goals. For example: I want to earn $200,000 in 2008. Or, I want my newsletter distribution to double.

How To Make 2008 Your Best Business Year Ever

Start your year with specific and measurable business goals. For example: I want to earn $200,000 in 2008. Or, I want my newsletter distribution to double.

Create a plan to achieve your goals. We have all heard about the person/business who was at the right place at the right time and became the “overnight success”. Luck favors the prepared. You do not know what the future will bring - but you can control your reaction to it.

Craft your plan to describe who your market is, what problem they have, the existing solutions to their problem, your solution, why your solution is best (and for who), and why they should trust you. If you already have clients, poll them to find out more about why they use you.

Note: there are two major types of plans: strategic plans and business plans. A strategic plan is focused on creating a clear path for achieving your goals, while a business plan is focused on funding for the goals. Create a strategic plan for yourself, and a business plan when you are seeking outside investors (and you already have a strategic plan).

Test your plan. Which plan is best? The one that produces the results you want. How do you pick that plan? You measure. For example, to increase newsletter sign-ups on your website, try different offers, wordings, font sizes, location of sign-up box, colors, etc. Split test - compare “A” vs. “B”. Pick the one that works. And continue to refine.

Anticipate your results. Imagine you wanted 25 new clients in 2008. Do you have the resources to handle them? At your current rates, can you afford to have these new clients (how much time does acquiring and maintaining a new client take, and what is your time worth)?

Get help with your business. You started your business because of specific skills or products that only you can provide. Focus your time on your specialty. Working on and working in your business are very different skills.
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If you are considering a shift in your business direction, contact me. My specialty is creating creative, customized, and effective plans that achieve your business goals.

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Article Tags: achieving your goals, business direction, business goals, business plan, clear path, current rates, existing solutions, font sizes, measurable business, newsletter distribution, newsletter sign, overnight success, person business, right place at the right time, sign ups, split test, strategic plan, strategic plans, time worth, ups



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How to valuate a business - Hi Garth - here is how we did it at Northern Crown Capital when I was helping them raise venture capital for Toronto-based entrepreneurs. Assume the start date is 2003 so 2008 projections are 5 years out: How Northern Crown Capital Valuates a Business 2008 Financial Projections Earnings Before Tax $5,865,000 Tax Rate 42% Taxes $2,463,300 Net Earnings $3,401,700 Amount Seeking to Raise Today $3,500,000 Discounted Value of Future Opportunity, 5 Years Out 2008 P/E Ratio 15 Value of Company in 2008 $51,025,500 Discount Rate Applied 30% Year 2008 $51,025,500 Year 2007 $35,717,850 Year 2006 $25,002,495 Year 2005 $17,501,747 Year 2004 $12,251,223 Value of Company at Investment in 2003 $12,251,223 Less: Investment Amount $3,500,000 Present Value $8,751,223 Discount for Risk & Private Company 40% Less: Discount for Risk & Private Company $3,500,489 Private Company Value $5,250,734 Present Value (What the Owner Keeps) $5,250,734 60.00% Financing (What the Investor Gets) $3,500,000 40.00% Total $8,750,734 100.00% I hope this helps!
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Top 19 Copywriting books - 1. Ogilvy on Advertising. David Ogilvy. Wiley. 2. Positioning: The Battle for your Mind. Al Ries and Jack Trout. Warner. 3. The New Positioning. Jack Trout. McGraw-Hill. 4. Tested Advertising Methods. John Caples. Prentice-Hall. 5. How to Make your Advertising Make Money. John Caples. Prentice-Hall. 6. Guerrilla Advertising. Jay Conrad Levinson. Houghton Mifflin. 7. Direct Mail Copy that Sells. Herschell Gordon Lewis. Prentice-Hall. 8. Sales Letters that Sizzle. Herschell Gordon Lewis. NTC Business Books. 9. Herschell Gordon Lewis on the Art of Writing Copy. Herschell Gordon Lewis. Prentice-Hall. 10. Romancing the Brand. David Martin. American Management Association. 11. The Art of Writing Advertising: Conversations with William Bernbach, Leo Burnett, George Gribbin, David Ogilvy, Rosser Reeves. NTC Business Books. 12. Confessions of an Advertising Man. David Ogilvy. NTC Business Books. 13. My Life in Advertising. Claude Hopkins. NTC Business Books. 14. Scientific Advertising. Claude Hopkins. NTC Business Books. 15. How to Become an Advertising Man. James Webb Young. NTC Business Books. 16. The Lasker Story as He Told It. NTC Business Books. 17. Advertising Concept and Copy. George Felton. Prentice Hall. 18. The Copy WorkShop Workbook. Bruce Bendinger. The Copy Workshop. 19. Hey, Whipple, Squeeze This: A Guide to Creating Great Ads. Luke Sullivan. Wiley. This should keep you busy for at least a year. Enjoy!
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Re: Quote of the Day - "The only people witho - Thanks for sharing this Evan, there are some very powerful quotes in there, I particularly like this one:- You are now at a crossroads. This is your opportunity to make the most important decision you will ever make. Forget your past. Who are you now? Who have you decided you really are now? Don't think about who you have been. Who are you now? Who have you decided to become? Make this decision consciously. Make it carefully. Make it powerfully. regards, Mal.


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