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   IN THIS ISSUE 
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1. Welcome and Update from Elena 
2. Home-Based Business Idea of the Week - Property
 Manager
3. Feature Article - Planning Through the Life Cycle of
 Your Business (Part V - Final)
4. Pro-motion Column
5. This Week's Subscriber Web Site Pick
8. Subscription Management 
10. Contact Information



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1. Welcome and Update from Elena 
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Hello again, and a warm welcome to all the new subscribers 
who have joined us since the last issue!

Apologies if this is a duplicate.  It seems Sunday's mailing
went haywire due to problems with my webhost's mail servers.
I have no way of telling who received it and who didn't so 
this is a resend.

In this week's feature article, we conclude the series, 
"Planning Through the Life Cycle of Your Business",
this week looking at the final stages of midlife crisis
and majestic maturity. 

As always, thanks for reading and I hope you enjoy this 
week's issue. 

Remember, this ezine is for YOU! If you have comments 
or suggestions for topics you would like to see addressed, 
or would just like to share your experiences with other 
subscribers, I want to hear from you! Please send comments, 
questions and stories to Contact By Email .
 

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2. Home-Based Business Idea of the Week - Property
 Manager
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If you've ever leased your property to tenants or leased a 
property from a landlord, then chances are you will have 
dealt with a property manager. Strictly speaking, property 
managers deal with a vast range of property matters, but 
what is referred to here is managing, on behalf of landlords, 
residential properties. 

This type of property manager is usually found by contacting 
a real estate agency in your area when you are looking to 
list your property for rent or are searching for a property. But, 
subject to local regulations in your area, there is no reason 
why a property manager needs to be attached to a real estate 
agency or apartment building. 

Of course, you will need to make sure that you comply with 
your state's licensing requirements for property managers (if 
any) but there is absolutely no reason why you can't set up 
your property management business right out of your home. 
Your clients will be landlords who seek the services of 
someone who can find tenants for their properties and manage 
the landlord/tenant relationship on their behalf. 

This task is broader than it sounds and includes advertising 
properties for let, processing applications from prospective 
tenants (and this will include screening applicants by carrying 
out credit checks, verifying employment information, checking 
personal and business references and the like), preparing 
lease documentation (standard form contracts will usually be 
all that is required), collect security deposits and rents on their 
behalf, coordinate maintenance issues, arrange periodic 
inspections during the course of a tenancy, arrange for evictions 
if necessary and the like. 

You would typically receive income by way of commission 
calculated as a specified percentage of the monthly rent 
and you may also want to charge a letting fee equal to, 
say, one week's rent. 

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There are many more ideas like this at the AHBBO website.
http://www.ahbbo.com

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3.  Feature Article - Planning Through the Life Cycle of
 Your Business (Part V)
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© 2017 Elena Fawkner

This is the fifth and final part of a multi-part article on business 
planning through the lifecycle of your business.  In part one, 
we covered the business life stages "Gleam in the Eye" and 
"Conception and Birth".  Part one was concerned with 
conceiving the initial idea for a business and thinking through 
how to make it work within the context of your own life; 
whether it would work for you at all, in fact.  In part two we 
tackled "Toddlerhood", learning how to crawl, walk and run.  Part 
three was devoted to the "Terrible Two's", or crunch time.  Just 
when exactly is it time to make more room in your life to 
accommodate your expanding business and should you?  
Last week, we looked at the "Troubled Teens" and "Young 
Adulthood" which brings us to the final stages of midlife crisis 
and majestic maturity.

In case you're just joining us, for the illustrative purposes of 
this article series, your business is creating stained 
glass lampshades, door panels and windows.  The first four
parts of the article are available by autoresponder.  Refer to 
the end of this article for links.

MIDLIFE CRISIS

Last week, we left off at young adulthood, a stage by which
time you've freed yourself of the restlessness and distractions 
of the Troubled Teens and your business is healthy and
dynamic.

Hopefully young adulthood will be a nice long run for you.
All good things, however, must come to an end.  And so it
is with your business.  You will inevitably reach a point where,
although your business is humming along quite nicely, the
spark, the excitement is gone and you begin looking around
for ways to recapture it.

The challenge here is not to throw away everything you've
worked so hard for in the process.  So how do you hold on
to your hard-won accomplishments yet keep things fresh
and exciting?  Answer: diversify.

You have this stained glass business down cold.  You've
implemented the strategies discussed in Part IV and have
engaged an assistant to free you from those (important) 
tasks that maintain but don't grow your business.  This has
freed you to concentrate on your core business, stained
glass windows, doors and lampshades.  But now that is
paling too.  What to do?

Remember, the key is not to lose what you've gained.  So
hire someone (or more than one) to manage your core 
business (stained glass creations) while you focus on 
diversification.

How can you diversify?  Well, one idea would be to 
collaborate with complementary businesses.  Continuing
with our stained glass example, why not join forces with
local architects and home builders on projects that can
feature your work?  Your unique stained glass windows
and doors could represent a distinctive competitive edge
for such businesses.  Similarly with interior decorators.
You get the idea.  Think outside the square and try and
form associations with complementary (not competitive)
businesses that can incorporate your designs into their
works.

Another idea for diversification is to run classes or
workshops for those interested in leadlighting as a craft.
You could supplement your workshops with a video
tape series and books.  Expand into seminars if you like,
too.  You'll find that these media lend themselves equally
well to many other types of craft businesses, so don't
limit yourself to leadlighting.  Diversification.  It's what will
keep you fresh and stimulated.  You haven't lost what
you gained along the way, you've simply expanded your
business to encompass other facets.

MAJESTIC MATURITY

This is the final stage of your business's lifecycle and it
represents different things for different people.  For some,
it means continuing on the path explained above.  A
continual expansion and diversification of the business,
employing staff as necessary to ensure you are continually
working on, rather than in, the business.

For others, majestic maturity means reaching a level of
accomplishment where you are satisfied with what you
have achieved.  Your personal and financial ambitions have 
been satiated and you no longer feel the need or the desire 
to personally continue with your business at all.  You may
decide to retire at this point.  If so, what are your options?
Well, assuming your business is a financial success, you
definitely don't want to just shut your doors and walk away.
There's value in the business you have created.  You just
need to find a way to realize it.  The obvious solution is to
sell your business as a going concern.

How you go about doing that will depend very much on the
nature of your business and your personal financial situation.
Do you want to sell your business and then just walk away?
If so, you can certainly do that, just contact a business broker.

But if you would like to retain some involvement, just not the
level of involvement you're at right now, consider franchising 
your business.  If your business can be "systematized"
in such a way that others need only copy your formula for
success, you can sell franchises rather than selling off
the business lock, stock and barrel.  In return for receiving 
a lump sum "franchise fee" and ongoing royalty payment from
your franchisees, you provide them with counsel and assistance,
marketing and promotion and whatever other forms of 
support is appropriate for your business.

Finally, even if you do decide to keep working on your business,
give some thought to succession planning.  Who is going to
take over and run your business if you can't?  This is a subject
none of us really wants to think about but for everything and
everyone there is a season.  Succession planning simply means
making provisions for what happens to your business in the
event of your retirement, death or disability.  Talk to your family
and professional advisers about this.  Your business is a
significant asset and, in a way, a life in being.  You wouldn't
leave your family not provided for, so don't leave your business
to fend for itself either.

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This article may be freely reproduced provided that: (1) you 
use the autoresponder copy which contains a resource box; 
and (2) you leave the resource box intact.
 

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4.  Pro-Motion - Answers for the Pro in Motion
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jl Scott's popular Pro-motion column is no longer in ezine 
syndication.  Instead, you can read this week's column at 
the AHBBO website at , right 
under the iCOPô seal!
 

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5.  This Week's Subscriber Web Site Pick - Kids Pro Wear
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Lesley Govan writes:

"Hi Elena,

"I read your newsletter on a regular basis and value your tips and
advice on marketing.  I have a retail site called KidsProWear.com.
I have been testing all kinds of marketing techniques such as:
submitting to search engines,pay-per-click advertising (which works
quite well), link exchanges, researching targeted newsletters to
advertise in, banners, participating in contests, etc.

"I offer a newsletter on my site and if you sign up you are entered
to win a free gift pack every month.  I think I have a great product
and I think the price is right and my site is easy to navigate.  I 
have had some sales, they tend to come in spurts and I am not
sure why.

"I average about 1800 hits a month, I just launched in August and
page views have been increasing on a monthly basis but the 
sales just aren't coming in.

"I would love if you could look at my site, any feedback would be
helpful and greatly appreciated.

"Thanks so much for your consideration.

Lesley Govan"
 

The first point I would make, Lesley, is that if you've just 
launched your site in August, you won't be listed in most of
the search engines or online directories yet.  This process
can take several months so don't be concerned that things
are slow to start.  Very few people even know your site
exists at this stage.

The thing to keep in mind, and this goes for everyone,
whatever your website is about, is that it takes an average
of seven exposures to your message before a prospective
purchaser will take any sort of step at all in the direction of
making a purchase.  Estimates vary, but approximately
2% - 3% of site visitors will take a "purchase step" and of
those 2% - 3%, only 2% - 3% of THEM will actually buy.
So the trick is to get huge numbers of people visiting your
site.  

But it's not that simple (and that bit's hard enough!).  Not 
only do you need volume numbers of visitors, you need 
volume numbers of REPEAT visitors (remember the 7 
exposures rule).  

A shopping site faces a particular challenge when it comes
to repeat traffic as opposed to, say, an informational site
that also sells products.  An informational site will naturally
attract repeat visitors because the visitor is interested in 
the subject matter or theme of the site and is more likely 
to return for further information on that subject of interest.  
A shopping site like Lesley's, on the other hand, attracts 
shoppers for that particular product.  Not only is the general 
market for that product going to be much smaller than a 
more general interest type of site, once the visitor's been
to the site and decided not to purchase (or, more accurately,
didn't decide to purchase) are they really going to return 
seven times?  Are they going to remember your site in the
sea of competitors they're going to come across every day?
It's doubtful.

The challenge for sites like these then, is how to achieve
the necessary stickiness to attract and keep targeted traffic.
The answer is in the content of the site , apart from the 
products being promoted.  That's what keeps the site
visitor coming back.

You will see that Lesley has made a start in this direction
with her "Did You Know?" department, but it's buried way
down the navigation bar and there's not much there, content
wise.  

My recommendation to Lesley would be to create another
website, one that's purely informational in nature, that would
appeal to the same market that KidsProWear targets.  From
that general interest site, which will attract more general
but still relatively targeted traffic, Lesley should promote and 
link to the KidsProWear site.

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If you want your site seen by thousands, write and tell me 
about it!  But make sure it's one you've created yourself 
or have had created especially for you.  No self-replicating affiliate 
sites please.  
 

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10. Contact Information
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Elena Fawkner, Editor
A Home-Based Business Online
Contact By Email
 

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