How to Make Email Marketing Works for Your Business

How To Write A Good E-mail Subject Lines That Works?

Here are the 5 tips:

1. Ask a question. One of the best ways to get a reader's attention is to ask a question. But like a trial lawyer questioning a witness on the stand, make sure it'll get you the response you're looking for. "What's the best way to grow your business?" is a great subject line for business owners. After all, what business owner wouldn't want to grow his or her business? Or let's say you run a health club. An e-mail with the subject line, "How can you lose 5 pounds in one month?" would certainly be compelling. It's important your question be relevant to your audience.

2. Be a tease. A clever subject line can be enticing. When it's done right, reader curiosity is piqued. They want to know more--and they'll open your e-mail. Writing a teaser-style subject line requires some creativity, and your content needs to deliver. A company that sells high-definition TVs could use the subject line, "You're not going to believe your eyes" as a teaser to introduce a new addition to their product line.

3. Tell it like it is. Often, what works best is to say exactly what you want your reader to know. Examples of this straightforward approach are, "Sale on all sweaters this weekend," "Master jazz pianist plays live this Friday" and "The seven secrets of a profitable business." This just-the-facts approach works especially well when you can appeal directly to your audience's interests. It's also the best approach to use when you send a newsletter.

4. Remember "WIIFM". When a person gets your e-mail, the first thing they consider is "what's in it for me?" They have a decision to make. Do they open your e-mail, leave it for later or delete it? If there isn't something about the subject line that lets them know why it's worth their precious time to see what's inside, then the choice will be clear. Keep WIIFM in mind when creating every aspect of your e-mails, including the offer, content, images--and most definitely the subject line. It's all about them. They know that; just make sure you know it, too.

5. Get personal. The more you can make each contact feel you're speaking directly to them, the more effective your communication will be. Whatever style of subject line you use, you can make it personal by using the word "you." Professional copywriters know the secret of using this powerful little word. Just look at the advertisements, mail and e-mail you receive. A few examples are, "Find the right swimsuit for you," "You can save 50 percent on travel," and "You'd look phenomenal in a custom-tailored suit." "You" is ideal, but "your" works too.

6. Not sure which approach is right for you? Try them all, and then show a friend or colleague to get their feedback. Pick the one you believe will be most effective for your audience. Whichever approach you choose, it's always worth spending the time and effort to write a great subject line. Because if your readers don't open your e-mail, they'll never have the chance to read the important message you've created for them inside.

Topic 2 ~ Increase Click-Through Rate (CTR) ~

How to Increased Click-Through Rate (CTR)?

Here are some guidelines:

1. Include a feature, a benefit, and an advantage in the opening. This needs to be used in a subtle way, but in the opening you're really doing a small marketing job for this issue of your email newsletter. Highlight an article or two that are important, explain what you're providing the readers that they won't get elsewhere, and tell them what the benefit will be. A great example is something like "Nokia and Sprint announced second quarter earnings today. Learn what our Wireless Week experts say about the results, and what effect you can expect them to have on the industry at large."

2. Put the email newsletter in the context of your readers' day. This goes hand in hand with the last point. Your readers are busy, and if you can make a compelling case for why they should stop what they are doing and take a few minutes now to read your email newsletter, you'll get them in. We recommend editors reference important events, upcoming trade shows, or other things that say to the reader "You will find it worthwhile to stop and read this email newsletter now, because the information in it will help you stay on top of your business."

3. Keep it fresh. Don't craft a "perfect paragraph" and use it issue after issue after issue. One of the keys to success is to keep the copy fresh and highlight items in that issue of the email newsletter. If you use the same generic language repeatedly, people will stop reading it and it'll be a waste of your time.

4. Keep it short. This is critical. We recommend no more than two to three sentences -- just enough to get them interested and pull them in to read the rest of your email newsletter.

Try it out and see the results! This is just one of the simple things you can do to engage your reader and optimize your CTR.

Topic 3 ~ Killer Email Sales Letter ~

How to Write Killer Email Sales Letter That Get Results?

Here are what we've found works best. Use these tips properly and your results will skyrocket.

1. Your email "from" sender line should be your brand name or company name and stay consistent. Use your own personal name only if that is your brand image.

2. Send emails only when you have something to say that will benefit the reader. No fluff. No filler. You must be relevant. If you can't be, don't send an email until you have something beneficial to say.

3. Start your emails with the specific benefit the reader can get from your message. You have no more than 3 seconds to pass the crucial "what's in it for me?" test.

4. The copywriting tone and language should be personal and conversational, instead of stuffy and "corporate".

5. Make a specific offer to the reader and, if possible, include a short deadline by which he must respond to get it.

6. Use as much copy as is needed to fully pile on all the benefits the reader will get by ordering, answer objections, create urgency, and close the sale.

7. Test your subject lines and offers on small segments of your list before you send the email to your entire list.

8. Include "Email this to a friend" service in all your communications for pass along and viral marketing.

Topic 4 ~ Good Call-to-Action ~

Get More Clicks With a Good Call-to-Action!

The call-to-action is a determining factor of your click-through rate. It is an important component of your email copy because it answers three important questions for the recipient. They are:

1. What you want them to do

2. Why they should do it, and

3. How to take that next step.

Whatever action you want your recipients to take, you can make it happen more often with a good call-to-action. First, decide what you want them to do:

1. Buy something

2. Sign up for a service

3. Fill out a form

4. Read an article or get more information

5. Visit your website or store

6. Make an appointment

Etc…

Then, make sure you incorporate these 6 characteristics to get the results you're looking for. Make your call-to action:

1. Visible - People read, react, make decisions and take action differently. Some make decisions right away ("You had me at hello.") and some need more details ("I'm from Missouri."). Place call-to-action links in the beginning, middle and end of the email so that recipients can click whenever they are ready.

2. Clear - Stick to simple words, short phrases, bulleted benefits and paragraphs of 1-3 short sentences. Include appropriate graphics and cut the clutter by making effective use of white space.

3. Compelling - Use action-oriented verbs and phrases: "buy now," "call today," "save" and so on.

4. Rewarding - Offer an incentive or reward for action. For example, "Act now and also receives...," or "the First 100 respondents will be entered into a raffle to win..." The giveaway, or prize, you choose should be closely related to your product or service. That way, you will be targeting customers who are interested in what you have to offer, not just the latest gadget.

5. Urgent - The longer an email sits in an inbox, the less likely it is to be acted on. Create a sense of urgency to get a more immediate response. Try limiting the offer to a specific time period, to the "first 50 customers," "while supplies last," etc.

6. Direct - Your call-to-action links should go to the appropriate page on your website with more details on the specific product or service you're promoting. If you don't have a website, the call-to-action might be store locations to visit or a number to call for an appointment.

Keep in mind that, in addition to repeating your call-to-action, you can vary your call-to-action to appeal to different types of buyers (and to fit your sales cycle). For example: "Click here to buy now" will naturally work better with loyal customers. The softer, "Click here to learn more" may be better for newer prospects.

Topic 5 ~ Avoid Common Pitfalls ~

Read Your Email Message Backwards to Avoid Common Pitfalls

Here are some common problems to look out for:

1. Misspelled words - It's a good idea to spell-check a document, but it's not enough. A spell checker won't catch every error.

2. Wrong word used - This is why a spell checker isn't enough. A spell checker will only flag words it doesn't recognize. It can't tell if a legitimate word is used incorrectly. Some words commonly confused: accept, except; your, you're; then, than; there, their, they're; cite, site, sight; lay, lie; loose, loosen, lose. Also, look out for a missing "r" in the word "your." It's easy to overlook a sentence such as "Visit our Web site now to receive you free copy."

3. Grammar error - Again, if you know you're not a good writer, have someone else check your writing for grammatical errors. Mistakes make you look bad.

4. Punctuation error - This is another area where you'll benefit from a review by someone who knows their stuff. If you're determined to do it yourself, purchase a good grammar or style book. One of the most common punctuation problems: Too many stupid commas!

5. Vague or confusing statement - Make sure every sentence is crystal-clear. You don't want your promotional message to raise more questions than it answers.

6. Illogical statement - Read over what you have written slowly. At the end of each paragraph, ask yourself: "Did that make sense?" Rewrite so that it does.

Topic 6 ~ Frequency of Sending Emails ~

How Often (Frequency) Should You Send Email?

There's no quick answer to the frequency question. It depends on the goals for your email and the type of content you send. Some rough guidelines:

1. Mail at least once a month. Mail less often than this, and you risk being forgotten by recipients. Monthly is the bare minimum if you want to keep your brand or company name top of mind (a common email goal).

2. Let content be your guide. Look at what you provide readers and you'll get a feel for proper frequency. Analyze how often the information changes and how quickly readers must receive it to act on it.

3. Work within your resources. A daily email requires many more resources than a monthly. Better a well-done monthly email than shoddy weekly or daily. It's recommended to start with a monthly. Once that's going smoothly, they can think about moving to weekly. You need to walk before you can run!

4. Watch for trends. Declining response, open, and click-through rates can be signs of list fatigue. Though some decrease is normal, watch carefully and cut back frequency if you see a problem. Don't assume if the unsubscribe rate is stable you're OK. Many people prefer to forward email directly to their delete folder rather than unsubscribe.

Topic 7 ~ Understanding Spam Filters ~

Understanding Spam Filters to Avoid Your Emails Get Junked!

If you send email campaigns long enough, you will inevitably run into spam filter issues. On average, you can expect 10-20% of your emails to just get lost in cyberspace, mostly due to overzealous spam filters. Unfortunately, there is no quick fix. If you want to avoid getting your emails junked by spam filters, you have to understand how they work.

Generally speaking, spam filters look at a long list of criteria to judge whether or not your email is junk. For example, they might look for spammy phrases like "CLICK HERE!" or "FREE! BUY NOW!". They'll assign points each time they see one of those phrases. Certain criteria get more points than others. Here's a sample of criteria from Spam Assassin, one of the most popular spam filters out there:

• Talks about lots of money (.193 points)

• Describes some sort of breakthrough (.232 points)

• Looks like mortgage pitch (.297 points)

• Contains urgent matter (.288 points)

• Money back guarantee (2.051 points)

• Why Pay More? (1.249 points)

It's easy to use "spammy" keywords in your email without even knowing it. Here are some common ways marketers unwittingly trigger spam filters with their campaigns:

1. Using spammy phrases, like "Click here!" or "Once in a lifetime opportunity!" too many times in your email. Sometimes, you can't avoid phrases like "FREE SHIPPING!" but use them sparingly, and don't do anything else risky.

2. Going crazy with exclamation points!!!!!!

3. USING ALL CAPS, WHICH IS LIKE YELLING IN EMAIL

4. Coloring their fonts bright red, or green

5. Coding sloppy HTML (such as by converting a Microsoft Word file to HTML)

6. Creating an HTML email that's nothing but one big image, with no text (since spam filters can't read images, they assume you're a spammer that's trying to trick 'em)

7. Using the word "Test" in the subject line (agencies run into this all the time, when sending drafts to clients for approval)

Topic 8 ~ Why Email Marketing Does not Work? ~

If Your Email Marketing Does not Work, Think Again Why?

Before you arrive at the faulty conclusion that email marketing doesn't work, let’s look at this from a different perspective for a moment that would make your emails ineffective.

First there's what you are writing in the body of the email. If this is your first attempt to get in touch with a prospect, what are you putting in the email? A dissertation? If it's longer than one or two paragraphs, it's too long. Look at your emails like an initial cold call. You need to laser in and deliver a compelling opening statement that's going to grab their interest and stimulate a conversation. Because there's no one to cut you off in an email or stop you from persistent pontification, people have tendency to ramble on and on in an email, giving the prospect the life story of the product or service they want them to consider. Keep it short and focus on the one or two benefits, opening up the opportunity to have a dialogue. That's it.

Second, are you sending attachments in the first email? No attachments! It's hard enough sending an unsolicited email to a prospect. Now you're adding more barriers and increasing the chances of your email winding up in their spam box or junk email folder. Some people have filters on their email that if an attachment is sent it automatically gets deleted. No attachment until that information in the attachment is solicited by the person.

Third, html or text? Once again, with all the email filters people use today, you will increase your odds by sending a text message only rather than trying to get fancy with formatting, graphics and pictures. The prospect really doesn't care about how beautiful your email looks; they care about the core message. Besides, they will never even get a chance to see your beautiful masterpiece in an html email if it's winding up in the trash.

Finally, you are using way too many spam words. As mentioned, the biggest enemy to email marketing or selling via email is the additional security that companies and individuals have on their network or computer. As such, the specific words you are using in the body of the email can be the culprit who is sending your email directly into the trash or spam box. In other words, you are using words that are often identified is spam and in turn, you email is getting flagged and deleted. Not even eye contact! The prospect is not getting a chance to, at the very least, see your email let alone read it and have a chance to respond accordingly.

Ending ~ Please Forward ~

Feel Free To Forward This E-Book To Your Friends!

Thank you for reading this e-book on “How to Make Email Marketing Works for Your Business”. This e-book provides useful guides on email marketing, and helps e-marketers to avoid several pitfalls in email marketing.

We hope you may regard this e-book as a book of guidance and that we can help you in your e-marketing effort.

If you think the outlined tips can help you, please take a few seconds to help us distribute or forward this e-book to as many people as possible.

I appreciate your time taken to read this e-book and I always appreciate reading your thoughtful and well considered comments, please drop an email to me at sales@blastsg.com if you have something to say about this e-book.

Thank you!

Regards,

Internet Marketing Companies, Online Marketing Degree, Online Marketing Service

ONLINE MARKETING SERVICE Online Marketing Service, also referred to as Internet marketing service is about using the Internet as another channel to market your business or organization. It’s about broadening your Web visibility, attracting qualified visitors to your website or getting interested people to email or call without even needing to come to your site. When visitors do come, through on-site marketing efforts and strong features, you lead them to do what you want them to do: fill out a form, register for an event or make a purchase from you through the internet usage. Some people would be eased to make their necessary work about their company by providing online worker from other place to make their job more easy to do. Online Marketing Service builds, executes and measures direct response strategies using the Internet. Some key areas that the company should consider to concentrate on are acquisition of specific information, retention of the data being given on the site, awareness of how the site should be handled, optimization of the site content and behavior, and conversion of details through a more useful resource to the users online. Here are some of the processes that the company should consider in getting their online marketing more effective: 1. Define Your Goal - work together with every member of your company to help clearly define exactly what it is you want to accomplish towards a more fruitful future using the online marketing service and how to set up goals which are important to the company. 2. Develop the Plan – the company should develop strategic, effective and measurable direct response marketing plans designed to achieve the company goals. Through the company's efforts of each member, a more suitable and easy way of conducting the plan can be performed. 3. Execute the Plan - provide capable and experienced project management throughout the entire implementation process. Each member of the company should be reliable, thorough, well-connected, and determined to make satisfied clients that are connected to the company. With these at hand, satisfied clients are willing to cooperate and pay more for the efforts of the company. 4. Measure the Results - No online marketing campaign is complete without measuring the results. Internet marketing strategies take tracking and measuring of the clients website advertisements before implementation occurs. This way, the company can measure their effectiveness to the clients as well as how better they know their company's effectiveness in the process. With the good results that the company is displaying, more and more clients are willing to be with the company and won't have second thoughts of paying a good amount for a good service that the company offers. Clients' satisfaction are very vital when it comes to consideration about the company's main goal. ONLINE MARKETING DEGREE Online Marketing Degree generally refers to the degrees that are offered in the internet through advertisements and well-presented by different courses that are being offered by the colleges and universities throughout the globe. It most likely want to prepare individuals in undertaking and managing the process of developing consumer audiences and moving products from producers to consumers by the use of the internet. A more easy way to determine whether you're making the right decision in improving and pursuing your career as student is to continue studying and taking one of the major courses that the college or university offers. Online Marketing Degree includes instruction in buyer behavior and dynamics, principle of marketing research, demand analysis, cost-volume and profit relationships, pricing theory, marketing campaign and strategic planning, market segments, advertising methods, sales operations and management, consumer relations, retailing, and applications to specific products and markets. Many colleges and universities have come up with the idea of advertising their different online courses because through this, a more practical, faster and easier way of advertising through the web can be seen and noticed. They will no longer have to make certain advertisements through television and radios just around their country but through online marketing service. The degrees that they offer will be seen by anyone from anywhere around the globe by the use of the internet. An effective way of advertising without the high costing. A slight example on the online marketing degree is the Bachelor of Science in Business Administration – Marketing (B.S.B.A./MKT.) which puts working professionals on a clear path to lifelong learning and success. Maximizing their career opportunities, making important contributions to the profession, reaching the potential—that define success. Through a program that combines academic theory with practical application, and includes courses in Ethical Leadership and in Social Responsibility, the students will gain knowledge and experience in areas vital to business and society. This concentration will help the students develop insights into an organization’s marketing effort by learning not only the traditional disciplines of alternate marketing channels, sales management, advertising and research, but also emerging marketing approaches related to consumer motivation, global customer management, customer relationship management, and marketing on the Internet. Another example of an online marketing degree is the Master of Business Administration in Marketing (M.B.A./MKT.), it provides students with the ability to examine the relationship between marketing and corporate strategy and the tools necessary for developing and implementing strong marketing tactics throughout the companies in which they work. Through a hands-on curriculum including case analyses, this specialization lays the practical groundwork necessary for students interested in strengthening or furthering their career as a marketing professional or decision maker. INTERNET MARKETING COMPANIES Internet Marketing is a broad term that can include everything from pay-per-click management to a full-blown online marketing campaign that builds traffic and tracks site visitors to increase conversions from all mediums. Internet Marketing can be thought as encompassing all of the following disciplines: search engine optimization, pay-per-click management, link building and affiliate marketing. Internet Marketing Companies work solely towards getting their client’s product or services marketed online, and this is really becoming something that modern businesses can’t live without. Obviously, an Internet marketing company can’t use the same techniques that a traditional advertising agency would use, such as television commercials and special promotions. The things that an Internet marketing company can do are pretty amazing, though, because the costs are fairly low and the results can potentially reach a global audience. The interactive nature of Internet marketing, which allows businesses to draw out an instant response from potential customers, is a unique quality of the medium. Internet marketing companies can bring creative and technical aspects together, including design, development, advertising and sales. Internet marketing methods include search engine optimization, pay per click management, display advertising, email marketing, interactive advertising, blog marketing, and viral marketing. The services that an Internet marketing Company offers aren’t always something tangible that people can see, although things like banner ads and social media marketing (using sites like MySpace) are quite visible. Things like search engine optimization and pay per click management are more intangible, but they help promote a website by placing it where people will see it when they are looking for that type of product or service. Internet marketing companies grow and promote an organization using online media. An Internet marketing company does not simply build a website or promote a website… They make that website visible to people who are likely to become real paying customers. For some reasons, people are making easier ways of advertising their products and news through the Internet because of its lower cost and its effectiveness. Consumers can see the products and massive orders and requests could be in any instant on line with the company which provides the products. An online marketing campaign is necessary these days with the Internet become bigger and bigger by the day. Therefore, it is crucial to hire an effective Internet marketing company to help your business achieve the online results you are looking for. Since the advent of the World Wide Web, there have been many new evolutions to online marketing. Thankfully, there are many Internet marketing companies that can show you the ropes about the industry so that you can capitalize with your online venture. There is a wide variety of items that a quality Internet marketing company can provide to your business. One of the main sources of online marketing is in search engine optimization, commonly referred to as SEO. This process simply refers to the act of ensuring that your website appears in the top of the major search engines such as Google, Yahoo and MSN. This is achieved by submitting articles and keyword phrases all over the Internet because the more links that your website has on the Net, the higher your search engine ranking will be. Since most customers will choose to use the services of a company that is among the top ten in the search engines, SEO can work wonders for your online venture. However, an Internet marketing company also has many other services that can benefit your business. Many of these particular companies also provide website designing and graphic design help that will make your website much more appealing to the public. If you search hard enough, you will be able to find a quality company that will produce your website from the ground up and then use SEO to ensure that your site gets the recognition it deserves.

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About The Author
Jan Michael Balasa is a link builder for http://Agentsofvalue.com. I'm an Electronics and Communications Engineering graduate. I have a good written and communication skill when it comes to research and projects.

How to Successfully Navigate Your Business through an Economic Downturn

An economic downturn is a phase of the business cycle in which the economy as a whole is in decline.This phase basically marks the end of the period of growth in the business cycle. Economic downturns are characterized by decreased levels of consumer purchases (especially of durable goods) and, subsequently, reduced levels of production by businesses. While economic downturns are admittedly difficult, and are formidable obstacles to small businesses that are trying to survive and grow, an economic downturn can open up opportunities. A well-managed company can realize the opportunity to gain market share by taking customers away from their competitors. Resourceful entrepreneurs capture the available opportunities, from an economic downturn, by developing alternate methods of doing business that were never implemented during a prior growth period. The challenge of successfully navigating your business through an economic downturn lies in the realignment of your business with current economic realities. Specifically, you, as the business owner, need to renew a focus on your core clients/customers, reduce your operating expenses, conserve cash, and manage more proactively, rather than reactively, is paramount. Here are best practices that will help you to successfully navigate your business through an economic downturn: Goals: The primary goal of any business owner is to survive the current economic downturn and to develop a leaner, more cost-effective and more efficient operation. The secondary goal is to grow the business even during this current economic downturn. Objectives: • Conserve cash. • Protect assets. • Reduce costs. • Improve efficiencies. • Grow customer base. Required Action: • Do not panic… History shows that economic downturns do not last forever. Remain calm and act in a rational manner as you refocus your attention on resizing your company to the current economic conditions. • Focus on what YOU can control… Don’t let the media's rhetoric concerning recessions and economic slowdown deter you from achieving business success. It´s a trap! Why? Because the condition of the economy is beyond your control. Surviving economic downturns requires a focus on what you can control, i.e. your relevant business activities. • Communicate, communicate, and communicate! Beware of the pitfall of trying to do too much on your own. It is a difficult task indeed to survive and to grow your business solely with your own efforts. Solicit ideas and seek the help of other people (your employees, suppliers, lenders, customers, and advisors). Communicate honestly and consistently. Effective two-way communication is the key. • Negotiate, negotiate, and negotiate! The value of a strong negotiation skill set cannot be overstated. Negotiating better deals and contracts is an absolute must for realigning and resizing your company to the current economic conditions. The key to success is not only knowing how to develop a win-win approach in negotiations with all parties, but also keeping in mind the fact that you want a favorable outcome for yourself too. Recommended Best Practice Activities: The Nuts and Bolts… The following list of recommended best practice activities is critical for your business' survival and for its growth during an economic downturn. The actual financial health of your particular business, at the outset of the economic downturn, will dictate the priority and urgency of the implementation of the following best practice activities. 1. Diligently monitor your cash flow: Forecast your cash flow monthly to ensure that expenses and planned expenditures are in line with accounts receivable. Include cash flow statements into your monthly financial reporting. Project cash requirements three-to- six months in advance. The key is to know how to monitor, protect, control, and put cash to work. 2. Carefully convert your inventories: Convert excess, obsolete, and slow-moving inventory items into cash. Consider returning excess and slow-moving items back to the suppliers. Close-out or inventory reduction sales work well to resize your inventory. Also, consider narrowing your product offerings. Well-timed order placement helps to reduce excess inventory levels and occasional material shortages. The key is to reduce the amount of your inventory without losing sales. 3. Timely collection of your accounts receivable: This asset should be converted to cash as quickly as possible. Offer prompt payment discounts to encourage timely payments. Make changes in the terms of sale for slow paying customers (i.e. changing net 30 day terms to COD). Invoicing is an important part of your cash flow management. The first rule of invoicing is to do it as soon as possible after products are shipped and/or after services are delivered. Place an emphasis on reducing billing errors. Most customers delay payments because an invoice had errors, and therefore, will not pay until they receive a corrected copy. Email or fax your invoices to save on mailing time. Post the payments that you have received and make deposits more frequently. The key is to develop an efficient collection system that generates timely payments and one that gives you advance warning of problems. 4. Re-focus your attention on your existing clients/customers: Make customer satisfaction your priority. A regular review of your customers' buying history and frequency of purchases can reveal some interesting facts about your customers' buying habits. Consider signing long-term contracts with your core clients/customers which will add to your security. Offer a discount for upfront cash payments. The key is to do what it takes to keep your current customers loyal. 5. Re-negotiate with your suppliers, lenders, and landlord: i) Suppliers: Always keep your negotiations on the level of need, saying that your company has reviewed its cost structure and has determined that it needs to lower supplier costs. . Tell the supplier that you value the relationship you have developed, but that you need to receive a cost reduction immediately. Ask your supplier for a lower material price, a longer payment cycle, and the elimination of finance charges. Also, see if you can buy material from them on a consignment basis. In return for their price concessions, be willing to agree to a long-term contract. Explore the idea of bartering as a form of payment. ii) Lenders: Everything in business finance is negotiable and your relationship with a bank is no exception. The first step to successful renegotiations is to convince your lenders that you can ultimately pay off the renegotiated loan. You must point out to your lenders why it would be in their best interest to agree to a new arrangement. Showing them your business plan and your action plan that includes your cost-savings initiatives, along with "the how" and "the when" of the implementation of your plan is the best way to achieve this goal. Explain to them that you will need their cooperation to insure that you can survive, as well as, grow your business during the economic downturn. Negotiated items include: the rate of interest, the required security to cover the loan, and the beginning date for repayment. A beginning date for repayment could be immediate, within several months or as long as a year. The key is to realize that your lender will work with you, but that frequent and continual communications with them is critical. iii) Landlord: Meet with your landlord. Explain your need to have them extend the term of your lease at a reduced cost. Make sure you have a clause in the lease agreement that entitles you to have the right to sublet any or all of the leased space. 6. Re-evaluate your staffing requirements: This is a very critical area. Salaries/wages are a major expense of doing business. Therefore, any reduction in the hours worked through work schedule changes, short-term layoffs or permanent layoffs has an immediate cost saving benefit. Most companies ramped up hiring new employees in the good times, only to find that they are currently overstaffed due to slow sales during the economic downturn. In terms of down-sizing your staff, be very careful not to reduce your staff to a level that forces you to skimp on customer service and quality. Consider the use of part-timers or the current trend of outsourcing certain functions to independent contractors. 7. Shop for better insurances rates: Get quotations from other insurance agents for comparable coverage to determine whether or not your present insurance carrier is competitive. Also, consider revising your coverage to reduce premium costs. The key is to have the right balance-to be adequately insured, but not under or over insured. 8. Re-evaluate your advertising: Contrary to the other cost-cutting initiatives, evaluate the possibility of increasing your advertising expenditures. This tactic realizes the advantage of the reduced "noise" and congestion (fewer advertisers) in the marketplace. The downturn period a great opportunity to increase brand awareness and create additional demand for your product/service offerings. 9. Seek the help of outside advisors: The use of an advisory board comprised of your CPA, attorney, and business consultant offers you objectivity and provides you with professional advice and guidance. Their collective experience in working with similar situations in past economic downturns is invaluable. 10. Review your other expenses: Target an across-the-board cost-cutting initiative of 10-15%. Attempt to eliminate unnecessary expenses. Tightening your belt in order to weather the downturn makes practical, financial sense. Proactively managing your business through an economic downturn is an enormous challenge and is critical for your survival. However, through well-planned initiatives, an economic downturn can create tremendous opportunity for your company to gain greater market share. In order to take advantage of this growth opportunity, you must act quickly to implement the above best business practices to continue realigning and resizing your company to the current economic conditions. Copyright © 2008 Terry H. Hill You may reprint this article free of charge in your newsletter, magazine, or on your website, provided that the article is unedited, and that the copyright, author's bio, and contact information below appears with each article. Articles appearing on the web must provide a hyperlink to the author's web site, http://www.legacyai.com Terry H. Hill is the founder and managing partner of Legacy Associates, Inc, a business consulting and advisory services firm. A veteran chief executive, Terry works directly with business owners of privately held companies on the issues and challenges that they face in each stage of their business life cycle. To find out how he can help you take your business to the next level, visit his site at http://www.legacyai.com To download a copy of this article, click on this link: http://www.legacyai.com/Article_Downturn.html.
About The Author
An author, speaker, and consultant, Terry H. Hill is the founder and managing partner of Legacy Associates, Inc., a business consulting and advisory services firm based in Sarasota, Florida. A veteran chief executive, Terry works directly with business owners of privately held companies on the issues and challenges that they face in each stage of their business life cycle. Terry is the author of the business desk-reference book, How to Jump Start Your Business. He hosts the Business Insights from Legacy Blog at http://blog.legacyai.com and writes a bi-monthly eNewsletter, "Business Insights from Legacy eZine." By signing up for Business Insights from Legacy eZine at http://tinyurl.com/2t4fxs you can keep abreast of the latest tips, tactics, and best business practices. You will, also, receive the free eBook, Jump Start Your Knowledge of Business.

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did you know?

Highland Park Police Station

The Highland Park Police Station on York Boulevard in the Highland Park section of Los Angeles, California, USA is the city's oldest surviving police station. Closed in 1983, the station is now operated as the Los Angeles Police Museum. It has been designated as a Historic Cultural Monument and listed on the National Register of Historic Places.

Built from 1925-1926 at a cost of $100,000, the station opened in April 1926 in a ceremony attended by Chief Edgar Davis and Police Commissioners Birnbaum, Insley and Webster.^[2]

A number of big cases were handled out of the Highland Park station; it was that Det. Robert Grogan pursued the "Hillside Stranglers", Angelo Buono, Jr.. and Kenneth Bianchi.^[3] In the early 1980s, the building was cited for failure to meet seismic safety standards and was described as a "Shake and Bake Hellhole".^[4] The radical Symbionese Liberation Army (the group that kidnapped Patty Hearst and engaged in an infamous shootout with the LAPD in 1974) planted a bomb in the Highland Park Station in 1973, but it proved to be a dud.^[3]

In 1942, future LAPD Chief Daryl Gates was arrested and briefly held at the Highland Park station after punching a police officer; in 1963, Gates returned as a police captain in command of the station. He later wrote, "Never dreaming I would voluntarily return to the station where I'd been brought in for punching a cop, I showed up for work, eager to continue trying out my talents as a boss."^[3]

The station was closed in 1983 as the Los Angeles Police Department moved its Northeast Division to a new location. With the vacant station threatened by demolition, the Los Angeles Cultural Heritage Commission declared the building a Historic Cultural Monument (HCM #274) in January 1984;^[5] it was added to the National Register of Historic Places two months later in March 1984. It is the only precinct police station in California listeed on the National Register. (The City of San Diego Police Headquarters, Jails and Courts building is also registered.)

The building now houses the Los Angeles Police Museum, including photographs, uniforms, badges, squad cars, a paddy wagon, and bullet-riddled vehicles.^[3] The museum is open Monday through Friday from 10 a.m. to 4 p.m. and the third Saturday of each month from 9 a.m. to 3 p.m.^[6]