Make Money Twice In Oneday

I ran across a sales tactic reading in a magazine today, it’s the art of the back-end sale. If you are like me you’ve probably never heard of the back-end sale. I ran to the computer to Google what it was, and to my delight it was actually very interesting. A back end sale is a tactic to make an old customer a new customer again. You ask how it's done? Simply put it’s selling something new to an already established customer. If your like me you'll need a real life example so lets see if this helps.

Example: You are selling a product online, we'll use lingerie for instance. 10 customers buy your lingerie item, instead of searching for new customers. You find another item and sell that item again to them at a discount for a limited time only. Lets say half buy your second item, right there in a instance you have a new audience and sold your second item. Still confused? It took me about 10 reading to figure it out.

Caveman Example: Bob, Shawn, Jim, Ann buys your lingerie at $10 dollars. After the sale instead of finding new customers which means more marketing or waiting around. You find another item or have one already one in place, lets take stockings at 5 dollars but give them a 10% discount which makes the product $4.50. Now if half of the group bought the second item, you just made a back-end sale(and a profit of $9 dollars extra) to the same customers without spending anytime or effort.

You can use the back-end sale for anything, people use this tactic for bring readers back to their blogs as well. Come back tomorrow for what an Inside Sign means.

How to Maximize Your Life and Business

We all need a little extra time for ourselves in a day's time, sometimes I feel that there isn't enough time in a day to get all the work or relaxation done. That's where the 80/20 principle comes about, basic premise 20 percent of work should retain 80 percent of the benefits. You can apply this to every aspect of your life, from business to leisure to whatever you want. Lets take the example of business for right now. We all know of a business or am involved in a business of some sorts whether owning to working. The principle lets you evualate your business according to what is giving you the biggest output and what is not. For instance when I look at my anaylytics, its showing that I get the most viewers from the blogger site search and the fewest viewers from google search. Rather then concentrate 80 percent on google search I should be putting my effort to increase reader through blogger website.

Increase Revenue and Productivity! Hawthorne Effect

The Hawthorne Effect derived a study in the 1920-1930's at the Hawthorne Works manufacture. The researchers wanted to test if subtle change would increase workers productivity and of course that would mean more revenues. They did experiments on lighting making them brighter in the work place and employee's working in groups rather then individually. In all the research the productivity increased with every test. For awhile different companies took the research and ran with the idea that brighter lights would increase productivity, but as soon as the results increased it would decrease just the same. Then it was found that it wasn't the lighting that increased productivity. The source of the increase was the testing when workers know you are testing something or measuring something they produce more and work harder. It's a psychological effect that when people are measured on what they do, they work harder feeling that if they are measured they cannot come in last.

I've dealt with this effect before, when our workers knowing that management is measuring their productivity or when we say we are going to monitor their work by watching them, they always seem to do more rather then less. Let's take the example of a bar, tell the bartenders you will monitor how much they ring up in alcohol per customer in the venue. Tell them you will document this to review at a later date on performance, across the board I bet you will have increase revenue and productivity. Sometimes just telling someone that they will be monitored on performance will do the trick being that Hawthorne Effect is psychological. Try it pertaining to your industry and reap the benefits of it for at least a little while.

How to Form your own LLC.

Lately I've been doing research on how to form a LLC (limited liability corporation) yourself instead of using a third party either lawyers or accountant, reason being I'm starting a new company with a good friend of mine Mitch. I have a LLC already established for another company that I own which deals with Nightclub promotions. We used a accountant to do all the work but it cost around $1200 dollars so I wanted to see if we were actually getting a deal or was the accountant setting it up was getting most of the money. Some of you might not know what a LLC is, so I found this site to give you the quick 1 page information about LLC and what it is. If you want the long version go here Long LLC.

Ok back to the topic I really need to keep on track more. So I searched the web more and clicked numerous links to online business who will help you form a LLC for you. The average price was around $150 dollars, what they don't tell you is that that their fee doesn't hold the cost it needs to form the actual LLC which can be anywhere from a few extra hundred dollars to about $1000 or so. Then I found the perfect website if you have questions about forming your own LLC, the site is called MyNewCompany. When you get there click start my new company then it will take their instant quote section. Once your there click the button that says LLC, once you done that click the state you reside or the state you want your LLC registered in. Then presto everything comes up with a price next to it. What I found out was in California the state I'm in they charge you a franchise tax for any new companies filings.

California imposes an $800 Franchise Tax on all newly formed LLC's. This tax is due approximately 4 months after your LLC is formed (all California entities have to pay this tax, foreign and domestic). The appropriate Tax documents will be included with your order. NOTE: LLC's cannot obtain a California state Contractor's license; if you need this license, you will need to form a Corporation.NOTE: LLC's cannot obtain a California Real Estate Broker's license; if you need this license, you will need to form a Corporation.

so this is what I have to pay if I did the LLC myself.

$800 dollars franchise tax
$79 dollars state filing fee
$20 stamps and gas (for sending files and driving)
$25 Tax Id (so you can open an business account at a bank) also called FEIN.

total
$924 to form LLC myself

what I paid to form one with my accountant
$1200

that's a difference of
$276

Not to mention that time is valuable to me and all this stuff would take more then I probable would like to spend I'd rather just use my accountant again. But if you want to save around 300 dollars you should do it yourself. Maybe in your state it might cost less. I remember reading on John Chow that he only paid $500 dollars doing it himself but he lives in Canada.