Pathway To Success
Irena Whitfield, the Internet Business Consultant You Need If You Want to Succeed In Business Online! Published since 2000     Publisher Irena Whitfield
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iwhitfield@thecassiopeia.com http://www.thecassiopeia.com/

Volume 10, Issue No 19, Circulation: under revision, 19th Sept 2010
Next Issue: 3rd Oct 2010


With 'Pathway To Success' you are receiving only top information, reliable and proven resources vital for your success and profitability, never anything just to make a couple of dollars at your expense. However, to make full use of the resources, get fast ahead of your competition and have your business and profits grow, you should read, apply and follow the information you receive.

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The ability to convert ideas to things is the secret
to outward success.

Henry Ward Beecher

Editorial:

Wonderful publishing Sunday, my precious Readers! Winner - TopRank Reader Poll

In Today's quickie I want to tell you about two splendid sources of information. Both are free, so don't worry, you will not need your credit card here:

1. This site is full of free podcasts containing useful information for any home based business, but not only. Check it for yourself by clicking here.

2. I am sure that you also wonder how many social sites there are, what they are like and whether they can help promote your home business. This little report will tell you exactly this. Get it by clicking here.

Enjoy Today's issue and stay tuned, your Pathway To Success is back in 14 days...

Irena Whitfield Sincerely,


Irena Whitfield
Your Publisher

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Today's Special Free Reading Bonus:
Recession Survival: Most governments are acknowledging the fact that we are in a recession and small businesses everywhere are saying that they are seeing a slowdown. But all is not lost! In 'Recession Survival: How to Survive and Profit in a Economic Recession' you will find a host of ideas and strategies on not only how to survive this recession but also how to profit from it ... and believe me, you can! Download this e-book and find out what else you can do today to safeguard your business. Download it by clicking here.

  • Today's Feature Article
  • Common Mistakes Small Businesses Make and How to Avoid Them
    Robert Warlow

    Unfortunately very few start up businesses make it beyond their 3rd year. Failure is usually down to a number of clearly identifiable mistakes, which if small business owners are aware of, can increase their chances of survival.

    Here are the top 10 common mistakes which small businesses tend to make.

    Lack of Market Research

    When a budding entrepreneur comes up with an idea for a new business he assumes that because he would buy such a product or service then everyone else will. This may be the case for day-to-day necessities but for other items this is usually not so.

    It's important that when you start up you carefully research the market to check that:

  • There is demand at a level which would lead to a sustainable business

  • People are prepared to pay the price required for you to make a decent profit

  • Undertaking market research may appear time consuming but the effort will pay off.

    Poor Record Keeping

    Some business people are not born administrators; they feel more comfortable getting out there and 'doing the business'. Paperwork is too easy to ignore but can never be put off indefinitely.

    Sales, purchases and other expenditure must be carefully documented, so you know whether you are making a profit or not. Invoices must be issued on time and chased up promptly if there is a delay in payment. It's all very well having the sales but poor record keeping can hold you back.

    Having your paperwork in order will also save you time when it comes to your accountant doing your year-end books!

    Insufficient Capital

    When starting off it's easy to decide what capital is required for fixtures and fittings, machinery and stock. What many new business owners forget about is the cash needed to fund day-to-day requirements, i.e. cash to pay expenses before your customers pay you. This is known as your working capital requirement.

    Small businesses can fail because they have insufficient cash to start off to meet these immediate expenses. If you wish to survive make sure you set aside enough cash to meet all your needs for the first few months.

    Ineffective Marketing Or None At All

    You cannot afford to treat the cost of marketing as an unnecessary expense. A business with no marketing is like waving in the dark – you know you are doing it but no one else does!

    There are many ways to promote your business on a small budget; it's just a case of being inventive and creative. What ever you do, don't assume that people will quickly know you are in business – they won't, unless you tell them.

    Ignoring Changes In The Market Place

    As a small business owner it's very easy to get immersed in your business and not see what is happening around you in the market place. Always keep your eyes and ears open to what the competition is doing and what your customers want. Don't get left behind.

    Owner's Attitude

    Attitude is everything in business. Don't forget that the real boss in your business is the customer. Running a business may make you feel important but don't let this develop into an 'I am better than you' attitude. Do this and you will quickly chase your customers away.

    Spending On The Wrong Things

    Being in business can be exciting, especially as the cash starts to roll in! However, don't be tempted to spend it on a new car, a house or just a good time. If you are to own a successful business then you have to keep some cash back to fund future growth. A business cannot grow without cash, so commit to spending business money on the business.

    Dependent On A Small Number Of Customers

    Don't fall into the trap of setting up a business just because one person says they will buy from you every week or month. Setting up and running a business, which is dependent on one customer, is not a recipe for success. What happens if, one month after you have spent all your cash to set up your business, that customer says he has changed his mind and has decided to buy elsewhere? Unless you can find other customers very quickly you are faced with closure.

    Before embarking on a new venture make sure you have a sufficient number of customers such that if a few go elsewhere you can still continue trading.

    Growing Too Quickly

    Surprisingly, growing too quickly can be a problem. You have to be disciplined enough to only take on work you can handle. If you are tempted to accept too much you could end up disappointing not only the new client but also your existing ones.

    Also, don't under-estimate the impact rapid growth can have your administrative burden. As I mentioned earlier, getting behind on the paperwork can have an equally damaging effect on your business.

    Trying To Do Everything

    Finally, the problem most small business owners have is the fact that everything falls on their plate. Inevitably this is how it's likely to be in the beginning, when the limited budget means that staff are a luxury, but as the business grows be aware that you cannot continue to do all tasks. There will come a point when you become inefficient and not have enough time to complete everything in sufficient detail. Taking on an extra pair of hands will increase your costs but you will be surprised at how much time will be saved, allowing you to do what you do best – getting the business in.

    Take a look at each of the mistakes and make sure that you don't fall into these traps.

    ********************************
    Robert Warlow runs Small Business Success a website dedicated to providing entrepreneurs with ideas and tips. He writes a free weekly newsletter and has written three ebooks, 'How to Market Your Small Business For Next to Nothing', 'The Secrets of Writing a Killer Business Plan' and 'The Secrets of Getting Your Bank Manager to Say Yes!' For more information visit Click here.


  • Today's Tips
  • Today's Tip On the Opportunity Worth Checking

    The Most In Demand ‘Job’ In The UK Today?
    Launches on 22nd Sept! Be With Us!

    Nigel Botterill plans something big and keeps it secret. Well, I’ve got a video for you today from Nigel Botterill, which goes into more detail about what he's launching next week, and what it might mean for you (at last, I hear you cry!).

    He says: We’re launching a brand new business opportunity: * It’s our best - and cheapest - to date (which given our exceptional track-record over the last six years is really saying something)

    * it’s in an industry that didn’t exist 18 months ago but has now become a massive market… ...where you have the ability to easily command £3k-£5k of income each month, even if you only work part-time, from home - providing you know exactly what to do and how to do it, which is what we’ll teach you; the latent demand for what this business provides is H-U-G-E… ...which is why a lot of people are set to make a lot of money.

    * It’s NOT MLM, there’s no selling involved, it’s NOT a ‘get rich quick’ scheme and it probably won’t make you a millionaire, but if you’re not earning £5k a month right now then you should at least find out all about it, because it just might change your life. It really is an enormous opportunity for the right people.

    We’re launching this to our Priority List next Wednesday. People on the Priority List get the chance to become involved before anyone else (which could be really important, because there are only 200 places available and it’s looking likely that they could all go from the Priority List before it ever gets launched to the public). In addition, people on the Priority List will receive an extra added bonus if they decide to get involved.

    So, we'll see this Wednesday already. Watch the video below and get on the Priority List by clicking here.

    Today's Tip On the Tool Worth Getting

    Your Business Needs a Dazzling Site!
    Get It Here: Use WIX!

    If you're interested free website creation, you've come to the right place. Wix is an online website builder that provides a simple solution for anybody who wants to make a website without fussing with code.

    This exciting tool has opened the doors for everyone around the world. Regardless of your technical experience or computer background, Wix gives you the power to make your own website. Whether you want to design a photography website, a business website, a music website, or any other type of web design, the Wix free website builder will help you.

    Wix's intuitive nature is due to its sleek, graphic interface and drag-and-drop editing process. All it takes is a click and a drag to completely change the look and feel of your web design, no coding or programming required.

    Users can select from hundreds of Flash website templates, or make a free website entirely from scratch. Add your own pictures, music, videos, texts and animations, and create a website that is an original web design masterpiece.

    Wix lets you make your own website and share it with the world. Update it whenever you want, as often as you like, without waiting for a web designer to get back to you. All of Wix's templates and Wix were built using the free website builder. Surprise yourself and see just how far your creativity can take you with the help of Wix. Click here.

    Today's Promotional Tip

    Want to Promote Yourself?
    Join me in International Books Cafe!

    Come into the cafe, and get to know the community of extraordinary Writers, Authors, Artists, Musicians and other excellent people. Add your books, participate in events, enjoy yourself... It's free. Click here.

    In this Issue
    click the headlines below or scroll

    Featured Article
    Common Mistakes Small Businesses Make and How to Avoid Them Robert Warlow

    Today's Tips

    • Today's Tip On the Opportunity Worth Checking
      The Most In Demand ‘Job’ In The UK Today? Launches on 22nd Sept! Be With Us!
    • Today's Tip On Tool Worth Getting
      Your Business Needs a Dazzling Site! Get It Here: Use WIX!
    • Today's Promotional Tips
      Want to Promote Yourself? Join me in International Books Cafe!

    Links  

    Bonuses
    A warm welcome to all our new subscribers, I believe you will enjoy getting our Ezine, reading it and making use of its content in your lives and business, and wish you all the success you want for yourselves. Whether you're looking for help, a working, successful co-operation or information, we are here to help you to get where you want to get.

    Below you can collect your special Free Bonuses. Click here!

    What's New

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    ** 1st Sept: Subscriber Corner: Subscriber Article: The Five Mutable Laws of Web Marketing by Dr. Ralph F. Wilson
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