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Posts Tagged ‘jennifer ratliff’

Supplier Red Flags: What to Look Out For

Friday, May 30th, 2008

Going into a retail business for yourself means taking risks with your money and your future. Not only do you have to worry about finding customers and keeping positive cash flow, you have to keep a steady supply of merchandise. This means finding a reliable supplier or distributor. But with just as many fraudulent or overpriced suppliers as there are legitimate distributors, committing to a supplier can be a scary thing.

Good business sense can help you avoid many of the scams out there, but there is no way to avoid them all. Fortunately, a scammer’s charade is never impervious. By using the following tips, you can avoid everything but a skim across the surface of a bad business experience.

Just because it looks like a duck and sounds like a duck… There are many companies out there who claim to be wholesale distributors, when in fact they are drop shippers who buy their products from wholesalers and mark them up before selling them to you. This not only costs you money at the purchase, it costs you future profit potential, since you will have to raise the price of the product yourself to make any kind of profit. One thing you can do is to take note of the variety of products a supplier sells. Distributors that sell many different items rather than specializing in certain products might just be drop shippers.

Some things in life are still free… If you’re just starting to work with a distributor, they may require a small set-up fee or a minimum purchase to get started. However, this is the exception, not the rule. If a distributor tries to charge a subscription fee, add-on fees or per-item fees, ask them to explain the charges and plan to move on to another company.

No name, no number, no service… A legitimate business isn’t afraid to attach its name and contact information to its web pages, so if the supplier you’re looking at doesn’t have a contact number and address, tread carefully. Anyone can invent an email address and start a website, and you should be able to gather enough information from a supplier’s website to do the proper background research on them. When you do order product, your supplier should ask for your tax ID number.

Let your fingers do the walking–um, typing… In today’s information age, legitimate companies are easy to find. Even start-up companies will have a trace of information somewhere online. The Better Business Bureau maintains information on thousands of companies, and their website is easy to use. Whois.net is a great place to research a business website. Just by typing in the domain name, WhoIs will tell you if the site is registered under a company or an individual. If you see a person’s name as the registrant, you might be dealing with a middleman.

Sales Pitch 101: Your supplier shouldn’t be trying to sell you products. If you visit a distributor’s website and it includes a sales pitch, you’re probably dealing with a middleman. That isn’t to say that distributors won’t have any kind of marketing on their site, but they don’t have a need for aggressive sales techniques. On the same note, your supplier shouldn’t be trying to sell you other services. At the very least, this indicates that he or she is a dabbler and might not be around long.

Hello, Smith residence… If you really want to find out the legitimacy of a potential supplier, call their business number. If someone answers the phone with a simple “hello,” hang up. Although many acceptable businesses are run from a home office, there should still be some kind of indication that it is a place of business. While not all companies can afford a receptionist, they will at least answer the phone with the name of their company.

If all else fails, contact the manufacturers of the products that you plan to sell and ask them who their authorized distributors are. They may suggest some strategies for selling and point you in the direction of their best suppliers.

Tags: advice, jennifer ratliff, Product Sourcing, source, supplier red flags, suppliers, tips, vendors, warnings
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Setting Sales Goals for Your Business

Tuesday, November 20th, 2007

Most fledgling business owners know the value of setting goals. Entrepreneurs spend the majority of their time setting goals–the rest of their time is spent meeting and exceeding those goals. Sales professionals, whether they own their own business or work for someone else, also find themselves immersed in the world of goal keeping. Without goals, a seller’s life is hectic and disorganized at best. Since he doesn’t know how many sales he must make to meet his financial obligations, sales are just numbers to be tallied, not parts of a larger equation. Online sellers who don’t plan how they’re going to sell are simply pitching merchandise to a few scattered buyers across the world, with little hope of reaching a stable client base–or a stable paycheck.

Sales goals

Sellers should put time aside each month to formulate new monthly and bimonthly sales goals. This will give them something concrete to work toward, even if sales are low or life tries to interfere in their business goals. The following suggestions for making sales goals will help business owners make the most of their time and sales efforts.

1. Be precise. Don’t put as a goal “sell more product than last month,” or “try to find a new client.” Such vague goals offer no incentive for accomplishment and can be so easily pushed back that you will never reach them. Use a definite quantitative goal, such as “increase sales by 3% from last month,” or “contact XYZ Company and discuss showing products for Christmas season.” Both of these goals are ambitious and direct, without being unreasonable.

2. Underestimate sales. It’s better to go beyond your sales goals than fall short, both for financial and self-esteem reasons. If you know your product will sell well because of the holiday season, order a surplus, but don’t make one of your goals to “sell out.” That will make victory taste that much sweeter.

3. Consider your lifestyle. If you are the type of person who enjoys taking the weekend off, or limiting yourself to working just during the day, don’t step up your sales goals to include marketing on your days off. You’ll only set yourself up for failure.

4. Practice nostalgia. Look at your past sales records, preferably for the same month last year or the year before. If you don’t keep records that far back, consider starting. Seeing how well sales have been in the past can serve as an incentive while also providing you with a snapshot of your customers’ buying habits from year to year.

5. Make a “buyer’s profile.” Keep written notes of whom you have sold your products to in the past. Note how easy or hard each sale was, and jot down a list of personality traits of each customer you have dealt with. This will help you anticipate sales and find those people who will be most likely to buy your products. This in turn will help you make realistic goals.

The Sales Budget

Having a sales budget can be as important as making sales goals, and in fact, the two often go together. Without sales goals, a sales budget is pointless. Without a sales budget, you cannot properly market your products to meet your goals. Therefore, when you go about setting up your monthly sales goals, it is a good idea to also plan how you will delegate money to market and sell your product line.

The sales budget, unfortunately, is underestimated. Since it is not technically a “necessity,” in the way that utility and rent payments are, business owners often forget to include it in their budget. They also try to skimp as much in this area as possible, preferring to try the old tried-and-true (and cheaper) method of word of mouth advertising. But in this day and age of Internet business, your competition could be in the same city or a continent away. Folks don’t have to choose a local provider–and they won’t, if there is one cheaper or more qualified elsewhere. A sales budget will give you a monetary amount to work with each month specifically to bring in new clients.

A good way to go about implementing a sales and marketing budget is to take a portion of each month’s revenues. Plan in advance so you know how much to put aside. Ten to fifteen percent is a good beginning amount, although in slow months you can go as high as thirty to forty percent. If your product is seasonal, spending the off-season trying to find low-cost advertising is a good way to jumpstart your in-season sales budget.

Planning sales goals and budgets cannot be taken lightly. Although word of mouth is a great advertiser, it will never take the place of higher profile advertising methods. Sales is always going to be an unpredictable giant; exerting your control over these aspects of your business will help you put your best foot forward and increase sales.

Tags: advice, Generating More Sales, Growing Your Business, jennifer ratliff, online businesses, Sales, tips
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Sourcing and Selling Art

Friday, October 19th, 2007

Art is a multi-million dollar industry, and wholesalers who know how to market and sell it can reap the benefits. Of course, selling art is not a straightforward process, because the field is so broad. Selling a large variety of art together can be financial suicide. When selling products that come from different backgrounds, wholesalers must double the time they spend researching their products in order to market to the right people. It is not unusual for a wholesaler to advertise in two different markets to sell products that occupy the same webpage. By specializing in one area, sellers minimize research time and maximize sale potential.

Some wholesalers may question whether selling art is worth it at all. The answer is a resounding yes. You simply have to understand the unspoken truth: selling art can be profitable if you’re willing to learn and earn on the go. If you don’t relish in the idea of “hitting the books,” you may want to go for an easier product. For those willing to spend the time researching products, artists and all of the different media, wholesaling art can be quite profitable (and fun).

Determine Your Niche

By focusing on one art style or medium, you are sending the message that you know a lot about your product and have the passion to pursue the best pieces. A jack-of-all-trades will hardly make it in the wholesaling business, especially with the global competition that the Internet brings into the picture. Selling paintings and sculptures and home decor may be enjoyable, but a person searching for steel sculptures isn’t going to have an interest in paintings. Specializing in one area also allows wholesalers to offer more than one product in a category. With more selection to choose from, buyers are more likely to purchase something. This doesn’t mean that you can’t broaden your product list, but keeping an emphasis on one area will keep buyers coming back for more.

Working With an Artist

Most artists don’t believe in mass production. If you are a wholesaler interested in purchasing assembly line art, you would be wise to search outlet stores such as Big Lots or Sam’s Club. They may be willing to offer you a commission to sell their products. If, however, you want to sell true, one-of-a-kind products, you will eventually have to form a relationship with an artist or an artists’ group. Contrary to popular opinion, artists are not difficult to work with, as long as you remember that they often have to play the role of salesperson as well as creative genius. Full-time artisans have to deal with an income potential that is limited by how good they can sell themselves.

To find an artist, you can take two approaches. You can attempt to reach one through a local art gallery, flea market or other sales venue, or you can scour the Internet. There are many sites available online that showcase artist portfolios. Some of these include:

* Ifreelance.com
* Portfolios.com
* AbsoluteArts.com
* Artq.net

You can find dozens of artists through these sites that will be willing to sell you their artwork. Some may even volunteer to take on a commission. By commissioning a piece, you control the subject matter and medium, although you will likely have to pay more for the privilege. Choose an artist carefully. Most portfolio sites are open to anybody, which means you may have top-flight artists listed next to an amateur who just wants to sell some pieces for extra money.

Once you have selected an artist, ask to see a resume or references. One of the biggest problems wholesalers have when commissioning an artist is the failure to follow through. You want an artist who will finish the product–and continue to finish products–in order for you to sell them.

eBay or Bust

Many would argue that eBay is the best place to find both variety and quality when it comes to artwork. While this may be true in most cases, there are instances when it is better to purchase pieces of art through another wholesaler who specializes in the type of artwork you want to sell. This isn’t always feasible, however, and if you simply must work through eBay, research sellers very carefully before buying from them. Many manufacturers will pass themselves off as artisans and try to sell you mass-produced work at a handcrafted price.

If you have found a piece on eBay that you would like to purchase and resell, contact the seller directly or bid on the product. If you have found an artist that you would like to commission to do a piece, email or call the artist (if such information is provided) so that you can discuss the details of thee proposed project. This is the time to negotiate price and ask for a discount for multiple orders. You can also decide at this point, who will pay for shipment of the product, and how much the product will be sold for. Don’t underestimate the importance of properly pricing a piece of art. You need to be able to mark a piece up enough to make a profit, so buying an overpriced piece limits your profit potential.

If you want to sell art on eBay, how much should you sell pieces for? This depends on many variables, including market demand, the medium used, the product’s competition and the popularity of your artist. Each piece of art is unique, but this doesn’t make it impossible to estimate a price. Check other art auctions on eBay for average bids on similar pieces. Visit a site such as ArtPrice.com to see how much similar pieces are selling for around the world. Consider also the cost of the materials used to make the piece, and factor in the artist’s idea of a fair price. Use your business savvy when making final pricing decisions. As a reseller, you intuitively know how much buyers are willing to pay for your products. There is nothing wrong with trying to make a little bit more profit, but don’t overprice a piece of art for a few extra bucks.

Selling art may be different and more intensive than selling other types of product; however, it can be very profitable, interesting, and fun.

Tags: absolutearts.com, advice, artprice.com, artq.net, ebay, ifreelance.com, jennifer ratliff, portfolios.com, Product Sourcing, selling art, source, sourcing products, tips
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5 Tips for Utilizing Email Marketing to Drive Sales

Friday, October 19th, 2007

Email is a quick and reliable mode of transferring messages and information. It is also a relatively free form of advertising. For new businesses, anything free is worth considering. But there are many regulations that muddy the waters of email marketing, and if you go the wrong way here, you’re likely dealing with hefty fines.

There are some things that can help business owners take full advantage of email marketing, while avoiding potential pitfalls.

1. Focus your attention first on those people who have already expressed an interest in your service or product. Starting and maintaining a short newsletter can attract subscribers who would be more likely to buy from you. Once they subscribe, they provide their email addresses, which provides you with a chance to market.

2. Make sure that you don’t go against the CAN-SPAM Act of 2003: This Act allows for up to an $11,000 fine per spam email sent, but you can use software or the service of a company specializing in spam avoidance to ensure that your marketing does not go against the Act. In general, the Act requires that you: provide a valid physical address for contact, allow a one-click unsubscribe button, and disallow the importing of lists, which may include purchased contacts.

3. Track your email. Tracking who responds to your email and who doesn’t can be a great tool for evaluating how well your marketing efforts are paying off. Unlike written communication, email marketing leaves a permanent trail. Response time and email-to-final-purchase ratio each tell a story about your marketing success. Some people may choose to use more advanced tracking methods, such as coding links within each message that notifies you every time a potential buyer clicks for more information.

4. Personalize. Don’t think that just because you’re sending the equivalent of a “cold-call” through email, that you have to make your message impersonal. In fact, the computer robots that go through and decide which emails to mark as spam and which to mark as legitimate mail depends a lot on how you address their email. Use a real name and a believable subject line, and include your contact information at the bottom of the email. You are, after all, trying to attract people to your product.

5. Embellish. If you have a choice and the capabilities, use html in your emails. Plain text doesn’t attract attention like a slick logo or graphics. This will also show your recipients that you didn’t just slap some sentences together and send the message off blindly, but that you took your product and its future seriously.

You may want to look into the services of an email service provider (ESP). Many have easy to use features that are great for those just getting started with email marketing, such as customizable HTML templates, the ability to personalize your emails, and open and click reporting. Most importantly, ESPs also help you to become CAN-SPAM compliant by reviewing your lists and maintaining relationships with the various internet service providers that your subscribers are using so that your emails get delivered. While some ESPs can be pricey, others (such as Constant Contact )are inexpensive and cater to small businesses with smaller budgets.

Email has more potential to attract customers than any other Internet marketing method. Think of how hard it is to climb the page rankings at Google and Yahoo. Trying to bring customers to your site involves years of work or a lot of money as you struggle to get the Meta Tags and descriptors just right for your site to move up in the rankings. Email marketing is much more skill-dependent. It still involves work and creativity to attract customers this way, but is much more rewarding, as email marketing can bring people into your business who will turn into regular customers.

Tags: advice, boosting sales, constant contact, E-Commerce and E-Business, email marketing, increasing sales, jennifer ratliff, Marketing, Marketing Your Business, tips
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Online Payment Systems Pave the Way

Thursday, October 18th, 2007

Running a business in the 21st century has its advantages. The Internet has made it possible to find buyers for your products from around the world, which significantly increases your profit potential. However, there are a few rough spots when it comes to working with foreign countries. One issue is the difference in currency. Another is the language and culture barrier that exists. Online translating programs greatly assist in interpreting the needs of foreign clients; however, dealing with foreign currencies can be intimidating.

Online Payments Pave the Way

Choosing an online payment system that can handle different currencies can significantly ease the stress of running an e-commerce business. Once you have an account set up, it isn’t hard to add a shopping cart. However, choosing a payment system that meets your individual needs is not straightforward. Not all systems work with all countries. And with new systems and services popping up every day, keeping up with new offerings can make the task of choosing one system that much harder.

When deciding the kind of online payment system to choose, you will want to cater it to fit your main market group while still leaving options to add extra services. If you plan to offer your products internationally, choose a system that works in many different currencies. Remember: the goal of an online payment option is convenience, but you also want to offer your visitors a secure way to pay, and with identity theft running rampant today, the less information customers have to give, the more comfortable they will be buying from your site.

Selling the Online Payment System

If you have an e-commerce site, you already know all the research that went into choosing how best to sell your products online. But it shouldn’t take that long to “sell” yourself on the idea of setting up an online payment system. For one thing, an online system means instantaneous payment. This is far more convenient for you than waiting on a check to come through the mail or paying extra for a customer to pay by credit card. You won’t have to deal with overdraft issues either, since most payment systems work off a stored value card or a debit card that has been linked to a bank account.

While online payment systems offer convenience, they do have some minor disadvantages. You won’t automatically have written copies of your receipts or transaction. These will have to be printed off for your records so they can be included in your tax papers.

Let’s look at the major online payment systems to see the unique benefits of each. In the end, what system you choose will depend on personal preference and your overall goals. Please note the absence of some very popular payment “systems” including PayDotCom, Wallet365.com , Stormpay and ClickBank. I don’t include them because they can only be used in one country, are connected to Adsense sales or simply aren’t taking new members.

* AlertPay.com : This electronic wallet system is based in Canada. Like PayPal, consumers can send payment through email. With three account levels, both individuals and companies can take advantage of their services. Registration is free, and customers may send money for no charge (credit cards require a small fee). You pay 1-2% to receive money. You may add funds to your account through your bank account, or through money order. This company deals in multiple currencies, and will accept and convert payments to your chosen currency. In Fall 2007 they plan to offer a debit card.
* E-gold : This unique online payment system involves keeping money in an account that is backed by gold and other valuable metals. It is a global currency, meaning that it does not rely on the currency exchange rates to determine worth. Instead, payment is measured in gold weight. This system doesn’t cost anything to start, but there is a monthly maintenance fee and a transaction fee to receive money. If there is one inconvenience to E-gold, it is that you have to purchase the gold through a separate exchange service. E-gold is slowly expanding to include more and more venues, but it is still not available everywhere.
* Worldpay.com : A good choice if you are selling products online, especially if you have worldwide clients. With this system you can accept payment over the phone. Worldpay accepts payment from almost sixty countries. There are a number of small fees attached to this system, including a set-up fee, a monthly charge, an annual fee and a transaction fee that varies with the amount of the transaction.
* MoneyBooker.com : One of the largest and most convenient payment systems in the world. It was created specifically to allow merchants to accept credit and debit cards online as well as bank transfers. There are no setup fees to get started .Moneybooker boasts a capped transaction fee, which means you never pay more than .80 Euros per transaction. You pay to send money, not receive it.
* PayPal : This is the most popular online payment system. It also offers the most benefits. It is free to send and receive money unless you are paid using a credit card, in which case a small percentage of the payment is withdrawn as a transaction fee. PayPal offers its own debit card in addition to the new “virtual” credit card that changes numbers each time you pay something online. The only downside to PayPal is that you have to have a credit card to apply for the debit card, and to become a verified member you have to attach your PayPal account to backup funding of some sort (usually a bank account).

Tags: adsense, alertpay.com, clickbank, e-gold, jennifer ratliff, moneybooker.com, online payment systems, paydotcom, paypal, stormpay, wallet365.com, worldpay.com
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Selling Trends: Top Products of 2007

Wednesday, October 17th, 2007

As 2007 comes to a close, people are scouring the stores, the Internet, and their crazy friend’s craft shop for that perfect Christmas gift. This is the time of the year when sellers become psychically tuned to the state of the world and decide what the hot ticket item is for the year. Filling the requests of millions of holiday shoppers is a big task, but if anybody is capable of making consumers happy, resellers can.

What are the most popular products for the 2007 holiday season? Technology seems to be the key.
If it doesn’t plug up, use batteries or have a remote, it’s not worth the time. The most popular products include the following:

1. Apple iPod touch: This has been advertised heavily since it came out. Its “touch-does-everything” process attracts people from every age group. As Christmas approaches, sales and profits come easily. One selling point with the iPod touch is a built-in Safari web browser with built-in wireless access to the web. And since including music is a must for any new technology, another point of sale is immediate access to the iTunes Wi-Fi Music Store, where consumers can browse and buy the hottest music with a simple tap.

2. Nintendo Wii: People have to have their games. The proliferation of game sites such as Pogo and YahooGames has made that apparent. The Nintendo Wii is both one of the newest and most interactive video game systems available. Selling games along with the system can add hundreds of dollars profit to the mix. What makes the Wii so popular isn’t the advertising that the company spent millions of dollars to produce, but the interactive quality of this system. With a combination of infrared detection and accelerometers, the game controller senses where in space it is, which means that a simple hand gesture can control the game. A cool aspect to add to sales would be the introduction to PlayStation Home, an online community that can take gamers completely out of the real world and stick them in a virtual apartment.

3. Digital camera: The digital camera is facing stiff competition from cell phones, which has only forced camera developers to come up with more things to add to the package. Now they’ve added more storage and movie capabilities, which can almost turn it into a cheaper version of the camcorder. For the family set, there’s a kids’ version that has become a popular gift since it came out last Christmas, the Fisher Price tough digital camera. This camera, which sells at around $60, boasts the same picture quality and storage capacity as the adult version, but includes an impossible-to-break outer shell.

4. Flat-screen HDTV: No one really knows why they want it or how to use it, but they all have to have HDTV, and not just any HDTV, but a flat screen version. For those who don’t like the clunky picture-tube televisions, this is the first alternative. Expect HDTV sales to increase as cable stations across the country switch completely from analog to digital service by 2009.

5. Laptop: Laptops have been around forever, but they are only now becoming affordable enough for the average consumer to consider purchasing. They have the same (and sometimes better!) storage capacity as the larger desktop versions; but with the added benefit of portability, laptops have come into their own. Add to that the fact that many areas now offer free or low-price Wi-Fi Internet access, and it’s easy to convince buyers to go mobile.

6. GPS navigation unit for the car: Getting to a destination has always been half the trouble, especially for stubborn men who don’t want to admit they’re lost. Now, GPS units are included in most luxury cars. But with more exposure are more features and a lower price, the perfect combination for sellers. Now they are becoming more and more portable, with which consumers will be thrilled. At a retail price of $500-$600, even a small markup means big profits.

7. Blu-ray or HD-DVD player: The potential replacement for the DVD player, Blu-ray discs have a lot more storage and a lot more strength. Whether they will stay in the limelight for long depends on what happens over the next few months; but for now, they are in high demand. Movie production companies have already converted some 300 movies to Blu-ray format, and if the trend continues, there will be plenty of selling opportunities for years to come.

8. Disney merchandise: This is really a combination of products, but if you can get the license to sell it, there is no limit to potential profit. The High School Musical movies and Hannah Montana series are both very popular with kids, and the stores are showing that with posters, dolls and games.

9. Cell phones: Everyone has to have a cell phone, and now there’s no reason not to have one. The age of cell phone contracts is long gone. Now that there’s the prepaid option, even those with the worst credit can get a phone (and in many cases a rather nice one at that). The style and price of cell phones varies so much that resellers are free to focus on finding the right phone for the right person.

10. LeapFrog Fly Fusion Pentop Computer: This may be geared for the student, but quite a few adults could get some use out of this newcomer. This pen “translates” handwriting into digital words on the computer. It also has games, translating ability, an MP3 player and some special little surprises. A double market for the same product - can’t beat that!

Tags: Generating More Sales, jennifer ratliff, product trends, Sales, shopping trends, top products of 2007, trends
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Avoiding Work At Home Scams

Wednesday, October 17th, 2007

Wouldn’t the world be a great place if everyone could do their jobs from home? No rush hour traffic, six a.m. alarm or hurried attempt to finish things before bedtime. You have probably passed those flyers on your way home from work or skipped over them as you were reading the Sunday paper. There are many “work at home” advertisements out there, and 99% of them are scams, bent on preying on people’s desire to spend time with their families or trying to reach independence from the workplace. But avoiding these scams can be hard, especially for those who desire so much to work at home that they are willing to look past almost anything. Here are some things to look out for when searching for a work-at-home opportunity:

1. Are they trying to charge you for information? Let’s face it, knowledge is power, and scammers know that. They use information they have found from experience or from the Internet to attract victims. The truth is, you could probably find the same information online yourself, with just a little bit of resourcefulness. It’s different if they are offering a subscription, ongoing information that may take you hours to find each week, but if they want you to pay for “the secret” to making money online, approach with caution.

2. Is your main job to “recruit” others? This is more than likely the classic MLM, or pyramid, scheme. There are a lot to these schemes that may appear legitimate, at first. Sometimes it can take months for all of the inconsistencies and negatives to pop up, but when they do, you’ve already lost hundreds of dollars. They draw you in with promises that if you work hard, you’ll make good money. It doesn’t sound too good to be true, and that’s why it attracts so many honest people. A classic MLM scheme requires that you recruit other people to sell products from a catalog (not that you sell the product yourself). It asks you to pay money for “training” so that you can become a better recruiter, and that you buy a certain dollar amount of merchandise per month from their catalog. In a way, you’re being cheated three times by one company. If you sense that an advertisement might hint at MLM, don’t even call for information.

3. Is the pay too much for a task that is too easy? Nothing in life comes that easy. Stuffing envelopes, sending chain letters, assembling products - those jobs are mostly done by automated hands now. Filling in advertisements for money? This job involves a lot of marketing knowledge and creativity, not sheer data entry.

4. Do they care who you are? If you apply for a job and they don’t ask for your employment history, a resume, or simply for you to fill out a W-9, then you don’t want to work for them. Chances are you’re either going to be scammed, or the company is doing something illegal and they don’t want the government to know. You should always be given some kind of notice as to how taxes will be handled, at the very least.

5. Are they requesting money up front? This is one of the obvious signs of a scam. If any company is asking you to shell out money before you see any kind of profit, you’ll more than likely never see the reward from that purchase. Some scammers will explain that you are joining a start-up company that requires start-up money. If this was the case, they wouldn’t be looking for “employees,” they would be looking for investors. Tread carefully.

There is some common sense involved when it comes to avoiding work at home scams. It doesn’t hurt to check any company out with the Better Business Bureau just to “make sure” it is legitimate. The worst that could happen is that you have found a scam, and that’s not a bad way to discover the truth. More than likely you will try to find information on the BBB web site, only to discover that there is nothing to show. The best things to do then is Google the name for information, or simply check out any of the number of work at home scam sites. If the company you were about to sign up with sounds like one of the companies you read about, don’t do business with them!

Tags: advice, E-Commerce and E-Business, home based bsuiness, home office, jennifer ratliff, scams, Starting a Business, work at home
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Working With Manufacturers

Thursday, October 4th, 2007

Tags: advice, factory-authorized dealers, jennifer ratliff, manufacturers, Product Sourcing, source, tips, working with manufacturers
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How To Start Selling at Flea Markets

Monday, October 1st, 2007

Flea markets give sellers an unlimited income potential, while not limiting them to one product or sector of sales. Where else can you find a gallon bag of baseball cards for a dollar, an antique clock for three dollars, and all the stuffed animals you could want thrown in for good measure? Flea market sales have found a niche, and you can have a piece of the pie. Unlike other retail sales businesses, working a flea market doesn’t involve a large startup cost. In fact, crafters and others who can make their own products can begin right away.

There is no “flea-market template” that can guarantee success, but if you follow the steps below for starting a business selling at flea markets, your road to profit will be less bumpy; remember, though, that the time you put into this venture is going to directly relate to how much you will make.

Step One: Find a place to sell

This will involve making some phone calls and looking in the local paper. Most flea markets advertise in the community classifieds; but you can even look online for flea market directories (like FleaMarketListings.com ). Call around for the best rates, and visit the flea markets before you decide to rent a booth. Check out the other merchandise offered at the flea markets you visit to see if your product line would sell. If one flea market is over-saturated with your product or its direct competition, try another.

Consider all of the angles. An indoor flea market is ideal if your merchandise is easily damaged, since the elements can take their toll quickly. Ask if the flea market can be locked up after hours, or if it has storage facilities for vendor use. Once you’ve found that perfect flea market, try to find the best booth possible. If there are tables open that are in the middle of the building, pick one of those, since they historically see more traffic. Pay for a year up front and you’ll have a better chance of getting one of the good spots, although trying to move into an established flea market might require some waiting as seniority dictates.

Step Two: Obtain the proper selling license(s)

What kind of license you’ll need depends on where you are located. Some states require you to get an occupational license, while others permit sales with a reseller’s license. Still others don’t require a license at all for flea markets. The best thing to do is check with your state’s Small Business Administration office.

Step Three: Build your inventory

To create inventory, visit yard sales, auctions, estate sales and other public sales that you can fit into your schedule. Try to be one of the last folks to visit a yard sale and volunteer to purchase the remainder of their sales items for a small discount. Many people will simply give you their leftovers, just to save the hassle of having to move everything. Don’t forget to see if friends and family have anything to donate.

If you want to add homemade products to your inventory, you can display your own creations or put a classified in the local paper for crafters. You can also purchase new merchandise to display through wholesale websites, but don’t buy until you have checked on the viability and legitimacy of a wholesale business. Bulletin boards and forums often have posts from people willing to give stuff away or sell it for next to nothing. Finally, websites like Liquidation.com and Overstock.com specialize in selling surplus and bulk products.

Step Four: Attract attention

So, you have a good booth, good merchandise, and a great attitude. Now it’s time to attract the customers you deserve. Clean your merchandise, polish or paint it if need be, or fix small problems. If your products are already in good shape, arrange them in an attractive manner.

Put yourself in your customer’s shoes. If you sell food, offer a variety of packaging options, including individual servings and family sizes. If you really want to attract people to your booth, and the flea market doesn’t have a policy against vendors selling edible items, offer free food or samples of your food products. This is guaranteed to bring hungry shoppers to your booth.

If you sell electronics, try to provide an outlet that shoppers can use to test electrical items. Customers will appreciate the gesture, and you just might make a sale that you wouldn’t otherwise have made. Finally, don’t cram two tables worth of merchandise onto one table. Although some shoppers like to rummage through unmarked boxes of merchandise, most are trying to find particular items. If you keep neat, organized rows of tables and clearly priced items, people can see if there’s a reason to linger at your booth. Hopefully, they’ll at least stay for a cookie or some warm conversation.

Tags: building inventory, flea markets, fleamarketlistings.com, jennifer ratliff, Liquidation.com, overstock.com, small business, Starting a Business
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3 Questions to Ask Yourself If You Want to Sell Electronics

Monday, October 1st, 2007

Every good seller knows how profitable it can be to sell electronics. Their popularity and long shelf lives guarantee a good return on your investment. And while knockoffs and used brand named electronics are easier to procure, if you have any desire for a future in sales, you’ll eventually want to join “the big league:” selling new brand name electronics .

The Internet revolution has opened a global market for popular electronics, and no electronics company has enough people to cover all of those markets. Companies are beginning to realize the advantages of licensing their brand name, and electronics companies know this more than most. Income opportunities abound if you’re willing to chase down the companies and put in the time and legwork to make the sales.

In order to sell brand name electronics, you will need a license. This shouldn’t be too much of a surprise, since it takes a license to do many things in the world of commerce. If you don’t have a business license, this is the first thing on your to-do list. Once you have a regular business license, if you are going to buy or sell electronics as a wholesaler, you will need to have a reseller’s license. This license permits you to buy merchandise without paying the sales tax and is a standard addition to most business packages.

If you think you’re ready to sell brand name electronics, sit down with a notebook and pencil and make sure. Brainstorm about the kinds of electronics you would like to sell and any particular name brand that interests you. Answer the following questions:

1. Do you want to sell new or used merchandise?

Overstock.com and other clearance sites allow you to purchase pallets of electronics for a set price. Once you receive the merchandise you can divide it and price it as you wish. If you don’t have the room or the patience to inventory a pallet of merchandise, you can work through a drop shipper , for whom you will serve as an intermediary.

2. Do you have an established business or specialized knowledge in the subject?

Yes: If you have been in business for a while or have a good business reputation, you may approach a local sales representative of the brand that you would like to sell. Ask them about their resellers program. It is rare that they would simply hand over product for you to sell, but if nothing else you can walk away with a reseller’s application and some honest respect.

No: Going to a trade show is a good way to pick up lines of electronics to sell, since many manufacturers will bend over backwards to work with people who show they are serious about their product. If you are new to the sales game and your business is still in the fledgling stage, you may have to prepay for the merchandise and keep it warehoused.

Even if you are going to work through a manufacturer at a trade show to sell electronics, you will want to know the steps you need to take to follow through with a reseller’s application. The questions on a resellers application may appear to be overly detailed and thorough, but don’t be offended. You are applying to represent a company’s pride and joy, and they are simply taking the same precautions in screening individuals as you would if it was your company. Expect to find questions asking your company name, length of time in business, last year’s financial dealings, how many employees you have and what type of business you run as well as other questions about financial strength and monetary position. They will also ask what you plan to do with the license should they award you one. You have more of a chance at acceptance if you are honest here instead of flattering.

3. Are you ready for the responsibility that comes along with selling brand name electronics?

When you agree to a licensing agreement with a brand name company, you will be bound by contract to work with that company for a specific amount of time, selling a certain number of products. If you don’t want that kind of commitment, you might be better off sticking with selling the occasional brand name stereo or appliance. Before you sign a contract, read everything carefully. They will ask that you sign a Non-disclosure agreement (aka NDA) to guarantee that you don’t pass any industry secrets along.

Besides signing a contract, you will have to take responsibility for the products you sell, or the products that you manufacture to sell. Once the merchandise has been sold and distributed, you are responsible for collecting payment and remitting the proper percentage to the company that you represent.

There are some advantages to being licensed to sell brand name merchandise. The world of electronics is full of potential, and licensed resellers often receive generous discounts on merchandise, a heads-up and a free preview of new releases, and the advice and mentorship of a company executive to boot. Finally–and this is often an unappreciated benefit–you have an opportunity to specialize in an area of sales that is often more profitable the more you know.

Tags: advice, electronics, electronics business, jennifer ratliff, Product Sourcing, selling electronics, source, tips
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