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For Entrepreneurs and Small Business

Telemarketing vs. Internet Marketing

Internet marketing has gained popularity in recent years, accelerated further by the current economic climate. Internet marketing is more targeted and measurable than traditional advertising. However, recent research data shows that telemarketers can convert almost 60% of calls into sales leads by using customized templates and scripts for specific customers. Additionally, telemarketing can qualify the customers before setting up the appointment by asking a few questions unlike internet advertising where it is not as easy  to qualify the user based on a click to your website.

The good news for online advertising is that the advertiser can choose to pay for performance where you can choose not to pay for the number of times that the ad appears on a particular site online but pay only when the user clicks on your ad and lands on your website.  This helps reduce the “marketing waste” and reminds us of  John Wannamaker’s quote which is so relevant today “I know half of my marketing dollars are wasted…I just don’t know which half!”.  On the other hand, the purpose of telemarketing is to make calls, qualify business leads and setup appointments for your sales team to close them into sales. Telemarketing companies get paid on number of calls made and not number of appointments setup. This has made it difficult for them to compete with internet marketing based on the “pay for performance” message that is so heavily used by internet marketing companies to shift more dollars online. But, if you are looking to target a specific customer such as the 14.6 million US small businesses or consumers with household incomes of $100K+ it may be more cost effective and easier to do so with telemarketing than online marketing.

Online marketing has gained more popularity because it is non intrusive compared to telemarketing that is often considered intrusive specifically when it comes to targeting individual consumers. The government has also passed several regulations including the “Do-Not-Call” lists so that consumers can register their phone numbers if they do not want to receive intrusive calls from telemarketers. However, telemarketing companies are still very much in demand when it comes to qualifying and targeting business leads and setting up appointments with business owners and decision makers.

Online marketing provides marketers with several options such as search engine marketing, search engine optimization, banner advertising and social media marketing. Each of them serves a different purpose depending on whether the marketer’s objective is to looking for a direct response or create an impression. It is important for every marketer and business owner to better understand the sophisticated internet marketing solutions and practices before allocating marketing budget to them or you will overspend and waste half of your marketing dollars on them. In comparison, telemarketing is very simple as its purpose is to make calls, qualify business leads, setup appointments and fill the sales pipeline so that the sales rep or account executive can  follow-up and close the sale.

To conclude, online marketing and telemarketing are both effective. But, its important for marketers and business owners to know their marketing objective, understand the various options and select the one that will best address their specific business needs.

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Top 11 Relaxing Vacations and Getaways for Entrepreneurs

Entrepreneurs are an important element that drive local and global economies. More than 50 per cent of employees in Canada work for businesses with less than 100 employees. According to a global study on entrepreneurship from Babson College almost 15% of the US population is working for startup companies that are less than 3.5 years old. To successfully get these companies off the ground, entrepreneurs face tremendous challenges; building social capital by continously networking in the business community, qualifying business leads to acquire customers, raising capital, hiring talent and navigating the big competitors — while trying to maintain a work-life balance for themselves and their teams.

Entrepreneurs have a grueling schedule with 90 hour work weeks being the norm instead of the exception. One way by which entrepreneurs can alleviate some of the pressure off themselves is to take a well-deserved break before starting a new venture or after a successful exit.

Here are the top 11 vacation destinations for entrepreneurs, CEOs and executives to get those beneficial stress busting neurochemcials flowing in the brain.

1. Bay Of Fire, Tasmania: There is a possibility that you would not have come across this little paradise that is located off the coast of St. Helen’s, a small town of Tasmania. Tucked away in Tasmania’s remote north-east is the holiday heaven, the Bay of Fire. Sparkling turquoise blue waters, pristine private white beaches as far as the eye can see, tranquil coves, capped off by the distinctive fire orange lichen covered granite rock.

2.  Turks and Caicos Islands: Previously a drug smuggling den, this group of 40 islands offers a memorable experience. Home to the Best Beach in the World, breathtaking hues from inviting waters, and legendary diving, snorkeling and fishing, a throwback in time where relaxation is unavoidable and rejuvenation ensured.

3. The Chiloe Archipelago: Chiloe in Chile’s Northern Patagonia, has long been a place of mystery and mysticism. Famous for seafood, handicrafts, and the warmth of its people, Chiloé is a scenic and an increasingly popular destination for walking, biking, fishing, paddling and birding.

4. Bora Bora: Bora Bora island is possibly the single most famous island in all the world. The legends, mysteries, and romance associated with the words “Bora Bora” bring an almost mystical presence to the island. Part of the allure has to be its almost unbelievable beauty. Two towering peaks of sheer black rock dominate the center of the island and make an impressive backdrop to an assortment of blue waters that will dazzle the eyes. Bora Bora’s lagoon is its most treasured feature, and allows the traveler many opportunities to experience it in a variety of ways. Windsurf, jetski, scuba dive, swim, bask in its warmth… the list goes on.

5.  Ko Tao, Thailand: “Discovered” by travelers in the 80’s Ko Tao (literally translates as “Turtle Island.”) has been gradually gaining popularity. Once the haunt of sea-turtles, this small island with its quiet beaches has become a favorite getaway both of paradise seekers and divers who come for the best coral diving in the area. In recent years word of Ko Tao’s natural beauty, beaches, coral and marine life has spread attracting more tourists and visitors to this remote island.

6. Basque Country: The Basque Country (Basque: Euskadi, Spanish: Pais Vasco) is a region at the north of Spain, bordering the Atlantic Ocean and France. It is defined formally as an autonomous community of three provinces within Spain, and culturally including a fourth province and a small portion of France. Basque Country is one of the world’s top gastronomic destinations, with key gourmet centers in San Sebastian, Hondarribia and Bilbao. In Basque culture, fine dining is a means of cementing relationships and building new ones. The northern coast offers sandy beaches and high bluffs overlooking the bay. As important, the Basque culture supports a tradition of self-sufficiency that has spawned a multinational business built around the notion of cooperation rather than competition that might serve as a model for others to follow.

7. Nam Ha, Laos: Nam Ha is surrounded by mountains, waterfalls and lofty plateaus, coupled with the culture of some 30 ethnic groups, creating the ideal landscape for eco-trekking. This place is ideal for extreme adventurers who can handle leeches and the steep slopes on a true jungle trek.

8. Whistler, British Columbia: Over two million people visit Whistler annually, primarily for alpine skiing and mountain biking at Whistler-Blackcomb. Its pedestrian village has won numerous design awards and Whistler has been voted among the top destinations in North America. During the 2010 Winter Olympics, Whistler will host most of the alpine, nordic and sliding events. However, this Canadian resort town is also popular for mountain biking furing the summer months.

9. Languedoc, France: Bas-Languedoc has long, sandy beaches and dynamic towns like Montpellier, Sète and Nîmes. This place is split by deep gorges and topped by wild upland plateaus for outdoor fun. It also had some exotic hotels and cruise options that will take you along the Canal du Midi which is a nice alternative to the usual French getaway.

10. Yunnan, China: Yunnan is the home of famous tiger leaping trek, jungle tours and the scenery of the sunsets. This environmentally rich land is scattered with ancient temples and small towns and undoubtedly one of the hottest Asian vacation destinations and getaways in 2010.

11. Svalbard, Norway: Svalbard is an archipelago in the Arctic Ocean north of mainland Europe, about midway between mainland Norway and the North Pole. There are no roads connecting the settlements on Svalbard. Here you will find untouched arctic wilderness. In the summer, beautiful colors and contrasts provide the frames for dramatic glaciers, majestic mountain formations, buzzing bird mountains and endless arctic tundra with its diverse flora and fauna. The light lures us to this unique place in which the midnight sun shines from early spring till fall. During the winter, the northern lights cast sparkles of light across snow-covered, pointed mountain peaks and an infinite landscape. A stay on Svalbard is the perfect vacation if you want peace, quiet and space for thoughts and dreams.

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I highly recommend Svalbard and the Chiloe Archppelago!!!

Web Site Design – Myth vs. Reality

Do you want to know the truth about website design? Web designers are masters of this craft and know it the best. Although many people have some idea and working knowledge of web design, it is often plagued with misconceptions and false notions. Not only do these cause you precious time and money, but they also result in below par website design and performance preventing you from tapping into the large pool of prospective customers that surf the web daily.

To help improve your website design knowledge and increase the chances of your website success, here are a few commonly accepted myths and some truth about web design:

 1. Flash animation is good for attracting visitors to your website, but it can slow down the performance of your site

Though Flash can add great appeal to your web pages, it is not a necessity. Add Flash features only when they are relevant to your content and carry significant value for your visitors.

Flash animations can greatly increase the time your pages take to load, especially on old computers. Test your animations for load time and proper functioning. If you add flash to your website, always include a non-flash version of your web page for browsers with slow network speed to be able to render and view your site.

When used judiciously, flash can enhance your website’s look and impact on customers but excessive or unnecessary use can annoy them and make them move on to other sites.

2. Colors make the web site design attractive, but too many on a single page may annoy your visitors

Colors must be used in moderation. A multitude of colors on a single page can annoy visitors and make them leave your site. Web design experts recommend a maximum of 2-3 colors on a single page.

To make your website attractive, rely on intelligent use of colors. This involves proper color coordination between text, background and image colors. For instance, dark text and images on a light background increase the allure of web pages. Also, make sure the color of links on your site is consistent with other colors on the web page.

3. Images and Videos make the web design more attractive, but use them conservatively

Images and Videos help to reinforce your message and add appeal to your website. Like excess animations, too many images can distract visitors, divert their attention from the call to action and make your web pages slow to load.

In addition to visitors, search engines are also harsh towards slow loading sites. With millions of pages to crawl, search engine crawlers will move to other websites at the slightest delay in your site’s load time, lowering your visibility and organic search rankings. So you should keep use of graphics and flash in check.

4. Optimize your web site design for Internet Explorer only, but its no longer the only browser with significant market share.

This is a very common misconception. Your site may appear differently on different browsers. It is always advisable to test your site on multiple browsers to ensure it has an appropriate look and feel for all major browsers such as firefox, IE, Safari and Chrome.

In addition, with the popularity of mobile internet ensure that your site can be properly viewed from mobile phones such as iphones, android phones and blackberrys as well.

5. IT and Computer knowledge is required  to be good web designers, not really.

It is true that computer and IT professionals have a better understanding of web design tools and technologies than most of us and if you are a novice, it is best to hire a professional web designer. However, learning web design is not rocket science. There are several books, tutorials and tools that can assist you with it. Give it a little time and you can become proficient in website design and development yourself.

With all this new information, start making smart decisions for your website design without wasting time and money on unnecessary bells and whistles that will not have any impact on the traffic to your website or conversions!

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Awesome post, nuff said!

Temp Staffing Services - Top 10 Advantages of Working With a Temp Staffing Agency

The benefit of working with temp staffing agencies is that it helps one to venture into new areas with plenty of jobs and also keeps you engaged which is impossible otherwise in a bad economy. There are many who believe that they will never get the top job with temp services or they will not be paid according to their worth. They fail to judge the possibilities of turning temporary opportunities into a permanent position in future.

Following are the advantages of working with Temporary Staffing Agencies:

1. Contract based opportunities can help you have a fixed source of financial earning, though for a short span of time.

2. Recruiters frequently get in touch with these temporary staffing agencies for any kind of prompt requirements in their organization. They can fulfill their requirements quickly from a temp agency. Hence, this is helpful for the individuals who are looking for immediate job opportunities.

3. Plenty of renowned companies accomplish recruitment of their staff through such temp agencies. They call for a suitable candidate for a temporary job opportunity and if the applicant satisfied the employers, they are retained for the permanent post and is placed on the payroll. This is great way to get hired in a permanent position though the path goes through a temp position.

4. Contractual job widens up your chances of interacting with new professionals and thereby developing a wide business network. This may prove beneficial in gaining a job from them in future.

5. These opportunities help you to get acquainted with different kinds of jobs. Apart from this, for an individual who has a knack to work but lack of experience hinders their growth, this could be the right option to gain exposure.

6. Working with the temp agencies is also helpful for those who have not worked for some time. These interruptions in their career, at times, become obstacles to gain full time employment. Your attachment with a temp agency will reduce such breaks in career. Moreover, this will not affect your career adversely.

7. Moreover some temp agencies provide additional benefits like healthcare. It is not common but is possible. Do not forget to inquiry about it before you get yourself enrolled with them.

8. If you have any kind of expertise or good skill sets then you are capable of gaining a good salaried employment, make sure that you pick the right job from the agencies that have different jobs according to the salary structures. Never fall into any misconceptions that you cannot get well-paid jobs from them.

9. The aim of temp staffing agencies is to have candidates with good expertise level. This is why some temp agencies provide training and development sessions. For example, if you need to polish your computer knowledge, inquire with the temp agency.

10. The candidates enrolled with the agency enjoy plenty of job vacancies, which helps them to attain steady career growth. Moreover these opportunities will never come your way if you are not attached with such agencies.

You can network with temp staffing agencies at Tradeseam before selecting the right one for your business needs

Credit Card Merchant Services - Are High Credit Card Merchant Processing Fees Really Worth it For a Small Business Merchant to accept credit cards?

Saying "no" to credit cards has become a sure shot sale killer. Almost all savvy business owners offer credit cards as a payment option now. Many customers only carry petty cash, preferring to use credit cards for purchases.

A business that offers credit card payment options has to pay credit card processing fees to credit card processing companies or banks. Processing fee is a sore point for many business owners as they cannot justify paying a cut of their sales to another agency. Acknowledging the contribution of credit card sales to their profits will help business owners look at processing fees with more equanimity.

Business owners must evaluate the cost of the processing fees to the business by studying the monthly statements frequently. The cost should be adding value to your business.

How much credit card processing fee is acceptable?

Processing fee is a percentage of the credit card sale value. This can be 2%-5% of the swipe. The percentage being charged to your account can be assessed by studying the monthly bank statements. Calculate the percentage cut per credit transaction. If the percentage is near 2%, that is great. If the percentage is at the higher end of the range then you need to look for another credit card processing agency.

Third-party credit card processing companies are giving the banks good competition. Many of these agencies offer services at much lesser rates. Survey the market to find a credit card processor that charges near 2% as the processing fee.

Verify any additional merchant fees being charged

Sometimes, monthly statements show charges apart from the regular processing fees paid to the credit card processing company. Check with the credit card processor and find out the charges. At times, additional charges make sense because an added service adds value to the customer and your business. The value of additional charges can only be evaluated if you inspect the monthly statement and spot the extra charge. If the charge does not make sense, and you have no option but to pay it, you need to change your credit card processing agency.

Review the cost of the credit card processing fees to your business by keeping a record of the monthly fees. Good processing agencies have a valid reason for levying an extra charge and inform you of it.

Compare notes with business associates

It is good strategy to compare notes with business associates to assess the benefits of a particular credit card processing fee structure. After examining your monthly statement, compare numbers with the monthly statement of another business owner. This is also a good way of getting to know of a better credit card processing agency.

Credit card sales form a good chunk of the total sales volume and paying a processing fee for the transactions is part of the package. Business owners can shop around for a good credit card processing agency that offers reasonable rates. They must also study monthly statements to ensure they are not paying unreasonable extra charges or a higher credit card merchant fee. All in all, credit card payments earn businesses way more than what the processing fee costs them.

Outsourcing Medical Billing Can Help Improve Your Collections and Lower Your Medical Billing Expenses

Outsourcing medical billing is the answer for those looking to make their medical practice more efficient. These outsourced medical billing firms are HIPAA approved, they manage your entire billing process, track your accounts, submit claims to the claims clearing houses and pursue the rejected claims.

What are the benefits of outsourcing medical billing services?
Medical Billing is an efficient alternative to processing billing in-house. It saves you time and money.

Here are some of the reasons you should outsource medical billing services:
 
* It saves money by reducing your costs and increasing collections of delinquent account.
* It reduces the time your staff spends on processing claims. You may be able to eliminate most of the billing staff and thus save expenditure on their health care, salary, insurance and training.
* It usually performs better than the in-house staff.  They keep their staff updated on insurance regulations and codes. It lessens number of denied and rejected claims. They are also quick to resubmit the claims returned from clearinghouses.
* Their turnaround from clearinghouses is faster as they process large number of claims with them.
* They have bigger incentives to increase collections as they are paid a percent of the amount they collect.

How does Medical Billing Services work?
Your staff sends patient details like insurance, diagnosis, procedure codes to the medical billing service. They check the data for any errors and submit the claims to the clearinghouse. If the claim is approved, you receive the check and explanation of benefits (EOB). The checks can also be directly deposited to a bank lockbox for faster processing. Rejected claims are returned to you so that any errors may be fixed and claims resubmitted. In some cases when the claim is problematic, it is the responsibility of your service provider to troubleshoot and resubmit the claim. Hence it is important to ensure that medical billing service provider has adequate staff to diagnose and fix such problems.

What kinds of services are provided by a medical billing services firm? 
Following are some of the main services provided by a Medical billing service.
* They process medical claims and follow up on rejected or problematic claims and resubmit them after rectifying any problems.
* Medical billing service generates reports with details of payments and claims. Comprehensive reporting helps you adjust your billing practices and improve cash flow.  They may also provide you with software to generate reports. Ask for a demo to make sure it is easy to use.
* Medical claims from Insurance companies can sometimes get delayed, putting pressure on your cash flow. In such cases, your service provider can lend against account receivables or can introduce you to companies that do so.
* There are many ways to send claims information to the medical billing service provider. You should prefer one that accepts claims information via a web browser or a software system hosted on your computers. Such data transfer is secure, efficient and less prone to error. Sending claims information on paper or via email is highly inefficient and error prone.
* Your provider may also offer Medical practice management (MPM) and Electronic medical records (EMR) software. These are significant buying decision and you may want to consider them separately from your decision to hire a billing service provider.

What else do I need to know before hiring a medical billing services provider?
Consider the following before making the final decision.
* How much experience does the provider have?
* ASP hosted billing software is preferable over one that is hosted on your computers. You don’t have to worry about maintaining ASP software.
* Good software system is important but so is expertise of the staff in handling difficult claims. How much experience does the staff have in medical billing services?
* How is their track record? Ask them to show some examples of difficult claims that they have successfully completed.
* Ask them to show you the reports they would generate for you.
* Are they 100% HIPPA compliant. Make sure their billing and reporting software too complies with HIPPA and SSL security to ensure patient information secrecy.
* Can they handle the NPI or National Provider Identifier system?
* Are they willing to train your staff to use the billing software?
* Make sure their references are stellar.

How much does an outsourced medical billing service firm charge? 
The Prices depends on the levels of service. To get the best deal, compare medical billing companies before selecting the right firm for your medical practice. Majority of the payment is in the form of commissions. Vendor Pricing is important but it should not be the sole criteria in hiring a medical billing service provider. Consider a firm who is HIPAA compliant, reliable and has built expertize in collecting denied or difficult claims.

If you haven't yet considered using an outsourced medical billing service for your medical practice consider it in your new years resolutions for year 2010.

Merchant Cash Advance - It Takes Only Three Easy Steps To Receive a Business Cash Advance In This Economy

It is much easier and faster to get a merchant cash advance than it is to get a bank loan. Bank loans require loads of documentation, proofs, guarantees, and most importantly, time; and time is perhaps the most valuable resource in today's cutthroat competitive environment.

Business Cash Advance providers work quickly. They do not need extensive documentation and it is available to the business in a week or two. If the provider and business owner have done business before, the process is further expedited and the advance generally is available within 72 hours. Time is critical for a business facing a cash crisis. It can use the funds to immediately pay off debts and invest in business growth.

There are three steps to getting a merchant cash advance:

Step 1: Setting up an account with an approved credit card processor

A merchant cash advance company loans money in exchange for future credit card receipts of the business. The providers have contracts with many credit card processors. Business applying for such a loan must have an account with one of these credit card processors to be considered for an advance. If the business does not already have an account with one of them, it can apply for it.

Step 2: Approval of application

After opening an account with the approved credit card processor, the business will submit an application to request an advance. Basic information such as the monthly credit card receipt statements are submitted to the merchant cash advance company. The paperwork is minimal. The provider will verify the businesses' financial standing, especially the length of time in business and the monthly income.

Step 3: Signing the contract

Once the provider approves the application, the business owner will receive a contract stating the amount of the advance and the percentage of monthly credit card sales that the loan provider will receive as repayment. The business owner should read through the contract carefully to avoid surprises. Cash is released to the business owner once the signed contract is submitted to the provider.

Details of the merchant cash advance contract

The contract between the merchant cash advance provider and the business owner is that between a buyer and seller. The business is selling its future credit card receipts at a discounted rate to the cash advance provider in exchange for the cash advance.

The contract contains the following details that can be used to calculate the overall cost of the advance to the business.

    * the advance cash payment the business owner will receive as a loan
    * the total amount of future credit card receipts the business is selling to the merchant cash advance provider
    * the percentage of credit card sales the MCA will receive from the business on a daily basis
    * contingency terms such as penalty for non-payment, etc.

Merchant cash advance contracts must be scrutinized before signing on the dotted line to avoid misunderstandings later. A business that has adequate funds at the right time can grasp opportunities boldly and increase its profits. A merchant advance makes that possible by providing funds easily and within a short time.