There could be many reasons why you’d want to troubleshoot your computer, well, one actually and that’s because something is not working right. The process of troubleshooting is something you learn after working for a long time with computers. Often enough when there’s a problem, nothing is going to explicitly tell you what is causing the problem and how you can fix it. By taking logical steps and walking through the process of troubleshooting you should be able to solve almost any computer problem, software or hardware related. It involves identifying the problem(s), finding the cause of that problem, determining the solution, executing that solution, and testing and checking that solution to see if it solves your problem.
As an example let’s say one day while using your computer the screen suddenly turns all black and you can’t see anything. We found a problem now what would be the first step to take to fix it? First check to see if the monitor is on and is receiving power, most monitors when they have power, but no connection or connection problems with the computer will display a message that says this monitor is working, but make sure you check your cables. So the next logical step to take would be to check the cable to make sure it is properly connected and secured to the VGA slot behind your computer case and to make sure the monitor cable is plugged into the monitor. Now, here’s where you have to decide what would be the next best course of action to take. you could either swap out your monitor with another monitor that you know is working to see if the problem is the monitor itself and nothing else or you can try to see if the problem is your graphics card. If your replacement monitor works, good, then you know your culprit is a bad monitor and you’ll most likely have to get a new one, because monitors are dangerous and too costly service. If the replacement monitor you used shows up a black screen as well, the next thing you’d do is check to make sure the graphics card is properly seated in the motherboard, if it is and the display is still not showing up, then swap out the graphics card to see if your problem is fixed.
Generally there are only so many steps you can take before you solve the problem and everything is back in order. Make sure that before you start testing and swapping out parts that the problem wasn’t caused by you changing a software setting in Windows or some ambiguous option in the motherboard’s BIOS that causes your problem.
Motherboard
The motherboard is the heart of the computer, every part of the computer relies on the motherboard to function correctly. It maintains connection between every PC component and ensures that things are operating smoothly between them. Many signs of motherboard failure is that the computer won't boot up, not reaching the POST test, erratic system behavior, different combinations of components not working. Because everything is connected to the motherboard certain parts may or may not work correctly if the motherboard is faulty so be sure to test those parts before thinking they're dead and getting new ones.
Be sure to do a visual inspection of the motherboard to make sure all cables are seated properly, the fans are spinning, and that the CMOS battery is in it's proper place.
Also check for any broken or leaking capacitors, those can immediately render a motherboard dead.
Make sure that all of the jumpers are set correctly as well, you should be able to find jumper information in your motherboard's manual, and if you don't have the manual you should be able to find the manual on the Internet at the motherboard manufacturer's website.
Many of the problems caused by a bad motherboard is also similar to problems caused by a faulty or dying power supply, so be sure to check if the power supply is faulty or swap it out for another to see if your problem is fixed. If you have a spare motherboard you can try swapping out the motherboard to see if that solves your problem, if that's the case then the motherboard is most likely faulty. If you think the motherboard is faulty and it is still in warranty you should be able to send it back to the manufacturer for a new one with no hassle, sometimes they might even pay for the shipping & handling if it is a big problem that is happening with a certain line of motherboards. Make sure that when you open a motherboard you keep all of the packaging and the box, and if there are any stickers that will void the warranty if removed make sure you do NOT remove them, so that way it is easier to send back.
Power Supply
If you suspect your power supply is giving you trouble, make sure you check it out fast, because power supplies can make trouble with the rest of your system as well. Irregular voltages sent from the power supply can short circuit and overheat your components thus frying them and making them unusable. Some faulty power supplies have even caught on fire, but if you’re lucky it might just smoke a little and start to smell. A few signals that your power supply is bad or is going bad would be erratic and seemingly random system behavior like system hangs and crashes, and burning smells along with smoke.
If you recently upgraded your system or added new hard drives, disk drives, a graphics card or anything for that matter, be sure to check if your power supply is being overloaded with hardware. A good way to check is to use a power supply calculator. One time when I upgraded my system with a new fancy PCI Express 16x Graphics card, well it was fancy back then, I had problems with the graphics card performing while in 3d games, it was all due to my power supply being unable give it enough juice on the 12v rails so it performed poorly and didn’t act as it should have, I even swapped out the graphics card for another one believing it was bad, after checking the manufacturer’s forums it seemed like a lot of people were having problems with faulty cards, so I figured mine must have been faulty too. After getting the new card it seemed like it performed better for a little bit longer, which could’ve just been some optimizations they did to circuit board. Seeing how they sent me an upgraded version of the same card, but it wasn’t until I checked my power supply wattages that I found the real culprit.
The first thing to do to diagnose your power supply is check the power supply connectors, make sure everything is plugged into the motherboard and the power cable is plugged into the power supply, you wouldn’t believe how many people forget to plug in their computer. Many power supplies also have a power switch on them so check to make sure that no one accidentally or purposefully switched it off maybe for a prank. Check the fan to see if it is spinning at the correct speed and if it’s dusty vacuum it out. Determine if the power supply cables are giving out the right amount of voltage, if you computer will let you boot you should be able to check them in the BIOS menu to see if the correct voltages are being given. Normal power supplies give +3.3 volts DC, +5 volts DC, -5 volts DC, +12 volts DC, and -12 volts DC.
Memory
Faulty RAM can have many adverse effects on your system. Constant lockups, computer rebooting, memory error message (duh), system crashes, and sometimes refusing to boot up are all signs of memory errors. Though, these are also signs for motherboard, hard drive, and power supply problems too. Luckily for you if you think your memory is subject to causing a disruption in your system there are programs that can check the memory for it's performance and to see if it is generating any errors.
Memtest86+ is an amazing memory diagnostic program. It is based off of the original Memtest86 that has been around since 1994 and is used by system-builders, average joes, and professionals in the IT world. It's a standalone memory check test which means it can be easily run without a bootable operating system, that's good if you can't just seem to get your PC started and want to rule out your memory as quickly as possible.
How To Use Memtest86 With Your Floppy Drive To Test Your Memory
First go their website at www.memtest.org and select the most appropriate version to download. You can download the bootable iso or the Pre-compiled floppy drive depending on whether you want burn a CD or use your floppy drive. We're going to go into details on floppy method.
Open up the .zip and extract the files to a folder, then click on install.bat, you will be asked to “Enter target diskette drive:”. Type A and hit enter then it will ask you to insert a formatted diskette into drive A: and press -Enter-: after you hit enter it will write some files to your floppy so you can boot your computer with the floppy to test for errors.
After the floppy has been formatted with Memtest86+, leave the floppy in your floppy drive and reboot your computer. Remember to set your floppy drive as the first boot device in your BIOS menu.
The program will automatically load and perform the memory diagnostic tests on your computer. During the testing if there any errors they will show up and at the end of the test it will tell you how many errors you've had.
After testing your memory if you receive any errors you should make sure that your memory is okay either by swapping it out and seeing the problems still occur or try your memory in another system. If the memory passes the tests then you proceed to troubleshoot something else with good faith that your memory is fine.
Hard Drive
The hard drive is that ultimate safe to everything important on your computer. It keeps all of your information, files and folders, music, videos, favorite websites, and programs. With a bad hard drive there's no reason to have a computer. In terms of fixing a computer if the hard drive isn't salvageable then most people don't even want to bother with the rest, because their computer is probably a piece of junk that has been handed down from time to time. Generally when a hard drive is about to fail it's usually years down the road from first acquiring the computer. So the next best option rather than replacing the drive is to just buy a new computer, or build a new one, because your old one sure is probably not running as fast as it used to.
Luckily before your hard drive kicks the bucket there is usually a few warning signs:
Abnormally slow file transfers
Problems with booting, especially when Windows is being loaded
Corrupted files
Disappearing files or folders
Loud hard drive noise is a good sign that there is a mechanical problem going on inside
If your hard drive exhibits any of these signs be sure to transfer all of your files to another source immediately, and do not continue to do day-to-day activities with that hard drive. If it doesn't show any of these tell-tale signs, however you have a gut feeling that your hard drive is on the brink of destruction you can try using many different drive testing utilities available on the internet. The hard drive manufacturer usually has at least one qualified tool that you can download from their website and run. Other ways to check the health of your hard drive involves running the Windows Error Checking tool by right clicking on your hard drive in 'My Computer' then selecting 'Properties' and going to the 'Tool' and clicking on “Check Now”, or checking the SMART status located in your motherboard's BIOS. SMART stands for Self-Monitoring, Analysis and Reporting Technology. Most motherboards nowadays has this technology. It should be automatically enabled in your BIOS, if it's not then your hard drive won't get checked. What it does is on boot up it will perform quick tests on your hard drive to ensure it is running correctly and it will continue to monitor it for any errors or abnormal problems that may occur as long as the computer is turned on.
Monitor
Watching movies, videos, playing games, and looking at NSFW material are all amazing things we can do on our computers. Yet there may come a day where you just want to get on your computer and relax in your computer room looking at all that NSFW material you have bookmarked under the “Special Sites” category, but you can’t because your monitor won’t turn on. No, you don’t frump and punch holes in the walls to look for an outlet for your rage. You troubleshoot it, and hope to god that your monitor isn’t broken!
When diagnosing a screen problem, half the time it’s usually something very easy, like a cable coming loose, or the monitor getting unplugged accidentally; unfortunately the other half the time it’s probably a problem that’s related to your monitor being old, or a problem that’s related to your graphics card instead. So you may have to diagnose both items at the same time to see which solves your problem.
First, check all your cables, I know this is probably getting a little old with the checking connections and everything, but so many computer problems can be avoided if people just remember that their computer isn’t always going to stay the same way they left it. A foot could kick out a cable, a dog or a cat that got to curious, or almost anything can render half your hardware useless.
After checking all your cables, make sure your screen has power, if it has power and shows a message such as “This monitor is working correctly please check your cable” and shows bars of color on the screen, that means that your monitor is not getting a signal from your computer. Try swapping out the monitor for another one to see if it still says that message. If it does then that means the problem is most likely something to do with your graphics card not seated in the motherboard, or just isn’t working properly, you may want to try swapping out another graphics card to see if that solves your problem.
Generally monitors don’t have that many diagnosable problems. Either they work and they work well, or they don’t work and you have to replace them. When working on a monitor you should never open them, they aren’t meant to be serviced and contain high charged capacitors that hold lethal doses of electricity. We wouldn’t want to read about a computer guy in the obituaries now would we?
Graphics Card
The glorious graphics card, it’s an amazing thing really. It makes all those pretty HDR (High Dynamic Range) pictures look just that good, it keeps your games running smoothly, and your videos in HD. Yet these things can be pains when they’re just not working right, because if something is wrong there’s not a strict hardware or software solution, you have to analyze the current situation to see what’s up.
First and foremost if you’re having any problems with your graphics card, probably the best thing to try to do first is see if there an updated driver for it at the manufacturer’s website that may solve the problem, or if there isn’t an update try uninstalling your graphics drivers and reinstalling them this little action can solve so many problems.
If there’s little jaggies or weird colorful mishaps known as artifacts appearing on your screen you may want to check the temperature of your graphics and make sure is getting enough cooling, and that the fan is working properly. If the cooling checks out okay you may also want to check your power supply ratings to see if it is giving enough juice to your graphics card. Nowadays most graphics cards need a lot of power on the 12v rails, make sure your power supply can give you that power that the graphics card needs.
Sound Card
Some of the typical problems people have with sound cards is either A) no sound or B) no sound. Sounds card typically aren't very expensive so having to replace one if the current one isn't working is no big deal. However, if you're one of those audiophile types who expect 100% original recording quality with your $300 sound card replacing one of those is as expected a lot more harder to do.
Sound Card Troubleshooting
Check speaker cables make sure they're all connected and plugged into the right spot on your sound card. Also check the speaker's power cables.
Make sure windows volume is turned up and the volume is not muted, also make sure that you have all the wave and playback volume turned up and not muted. If you have 'Digital Output Only' checked in your Advanced Controls for Playback Controls, try unchecking it to see if that solves your non-sound problem. I found that if I have that checked my sound card won't give me any sound.
Try reinstalling your sound card drivers, also try checking on the internet at the manufacturer's website for any updated drivers that may be available. They increase your sound card's compatibility with your system.
If the previous tips didn't help, then you may just have to replace your sound card, or atleast swap it out for another one to see if it might be a problem related to your sound card's connection to the motherboard instead.
Processor
The processor is the actual thinking part of the brain of the computer. It does all the calculations needed to make a computer run, and does them all in split second timing. It determines how fast your computer generally runs, and most of the time is a bottle neck for systems that have had everything upgraded except the CPU.
If your processor’s not working, it’s not the end of the world, generally most processors that work correctly for a few weeks, should work correctly for the rest of it’s lifespan, which varies from 5-10 years or so. As long as you’re not overclocking the processor or letting it overheat too badly your processor should be fine, and it could just be a BIOS setting that’s messed up, or a jumper setting, but for kicks just check to make the processor is seated properly and the heat sink is attached to the processor and the motherboard. The heat sink should be attached tightly to the motherboard and not have room to move about, you should be able to pick up your motherboard by grabbing onto the heat sink without any problems. Check in your motherboard manual to make sure all the jumpers are set correctly for your type of processor. Any jumpers set incorrectly can cause the processor to not work, or function correctly or at it’s optimal speed. Also check the heat sink to see if it is cooling off the processor, if it’s not doing a very good job you may want to look into investing in a better one that gets the job done.
by: Steven Stoddard
Tuesday, September 16, 2008
How To Troubleshoot Your Computer Hardware
Wednesday, September 10, 2008
Seven Service Principles Guaranteed To Create Raving Fans
“There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.”
Sam Walton, Founder of Wal-Mart
Sam Walton lived a life which displayed everything he believed in. Over the years, especially since Wal-Mart became a publicly traded company on the stock market, Sam’s vision and philosophy have slowly been forgotten. Although Wal-Mart may not offer the greatest customer service today, Sam’s words on the importance of customers to any business are timeless.
If business was to be compared to a car, customers would be the fuel. No fuel and the car cannot go anywhere. No customers and the business cannot go anywhere.
All businesses have some kind of customers. The philosophy behind the content in this article is just as applicable to personal relationships as it is to customer service in business. Although we are conditioned to believe our personal relationships are different from business relationships, in the end it is all the same; how you deal with people. Whether it is in your personal life or business, the principles shared in this article will benefit anyone who is willing to apply them in their situation.
Some have other businesses as customers, other have the general public as their customers. There are also internal customers and external customers. Internal customers are employees and external customers are those who your employees deal with. Keep your internal customers happy and they will naturally be compelled to do everything they can to keep your external customers happy.
This article deals with external customers and seven proven customer service principles which are guaranteed to create raving fans. Raving fans are customers who are so enthusiastic about doing business with your company that they become walking, talking billboards advertising and raving about your products and services to anyone in need of them.
The essence of creating raving fans out of your customers lies in going back to the basics. That’s right, simple strategies which are timeless and guaranteed to create astonishing results.
Also, it is crucial to realize that all successful businesses offer massive value to their customers. Creating products and services which efficiently and innovatively solve problems adds tremendous value to a person or business. This same value is what gets turned into an equivalent amount of profit.
Here are seven proven customer service principles guaranteed to turn the customers you have now and those to come in the time ahead into raving fans. This will naturally create an upward spiral of growth for your business since these very customers will happily share their great experience with your organization with countless others.
Keeping your word is where it all begins
When you say you were going to do something, customers expect you will do it. Since it is the norm for companies to make promises and not keep them, any business which is adamant about keeping their commitments to their customers is warranted to stand apart from the herd. So next time you are telling one of your customers you will do something, make sure that you do it no matter what happens.
Keeping your word with the customers allows them to be able to trust you. Trust is the essential ingredient to any successful long term personal or professional relationship. It is the foundation upon which everything else is built upon. Not just in business, but in general in relationships in life.
Always be honest and tell it like it Is
Your customers are people just like yourself and have more common sense than most businesses are willing to admit. By being honest and telling your customers the truth, you are much more likely to get a positive response to any situation. Given the current technological dynamics of our existence, a customer or client can very easily interact with others and get to the bottom line quickly.
The Internet is and has been changing the way business is conducted around the world. If you say your pricing is the cheapest and customer service the best, it is only a matter of minutes before this can be verified by interacting with others in a global economy. A prospect can do five minutes of research on Google and find out if you are telling the truth or just blowing smoke.
Always think proactively, looking around the corner
Everything in life is a dual creation. What that means is first we create any idea, service, or product in our mind. Once that is done, we then create its physical manifestation in the physical world. Thus it is totally accurate to say that if we wish to change our physical reality, we must first change our mental reality.
Thinking proactively when it comes to customer service boils down to addressing concerns PRIOR to you having to hear from the customer that something needs to be done. A simple example is an Internet Service Provider informing their clients that a necessary upgrade to computer services infrastructure will temporarily disable Internet access on x day at x time. It is simply amazing how much thinking proactively can benefit the bottom line of any organization not just when it comes to customer services, but also business strategy in general.
Deal with problems as best you can yourself, never passing the buck
My greatest mentor once told me that he met a billionaire, that’s right, a billionaire, who shared with him that “until a person realizes problems are a normal state of affairs, they have not even begun to mature yet.” Whether you wish to admit or not, problems in life are just as much a part of reality as eating, breathing, and walking. A person can certainly structure their life in such a manner that they can minimize those problems; however when the problems do arise they must be dealt with.
The best way to deal with any problem is THROUGH IT. What that entails is when problems arise; you simply stop and evaluate what is happening. Based on your evaluation, the problem is then to be addressed according to a chosen plan.
When a customer calls or walks in with a problem, it is an absolute opportunity to solidify their trust in your organization and prove that they can count on you to get it fixed. The first step is simply clearing up the facts and getting to the bottom line of exactly what needs to be addressed. Once the problem is clearly understood, it can be eradicated. The more authority your employees have to address customer problems, the better it is since nothing upsets customers than being passed from department to department when dealing with a problem.
There is no point in arguing with a customer because it is a lose/lose situation
The best way to deal with an argument is to downplay its confrontational aspect and direct all energy and attention towards a solution. What can be done to make the customer feel happy and cared for.
A customer can totally be wrong; however most of the times they simply need education to better understand the situation at hand.
It is also very important to separate an objective argument from a personal attack. If a person is frustrated because a product or service has not lived up to its standard, it is essential for your company’s representative dealing with the customer realize that the customer is upset at the situation and not at them personally. Often arguments turn personal when the people involved had nothing in the creation of the problem being argued about to begin with.
Accept your mistakes, learn from them, and do not repeat them
My greatest mentor, who is a professional drag racer at heart, also shared with me that in professional drag racing “the one who makes the least mistakes wins.”
We all make mistakes. Some of us accept that we made a mistake, evaluate the situation, learn the lesson and move on, while others get stuck in a never-ending state of denial. “What did I do wrong? I am not responsible for it!” is a common theme in their life.
Acknowledgment always precedes resolution. When a company’s customer service representative is dealing with a situation where a mistake has been made by the company, the best thing which can be done is taking ownership of the issue at hand. The anger and emotion around any issue can be minimized by admitting fault and diverting all energy towards a resolution. Customers are normal people just like the rest of us and when they hear that a mistake was made, and that you apologize for it and focus on the solution, the energy balance shifts from being upset to feeling content that the issue at hand will be professionally addressed.
You may have heard before “when you lose, don’t lose the lesson.” There is always something to be learned from any situation in life. Your general attitude will determine how you look at life, which will bleed into any business you are a part of. With each mistake, it is essential to realize what went wrong, how it went wrong, and most importantly what can be done in the future to prevent the same situation from occurring.
Consistency is the name of the game for lasting success
If you do something once, great. If you do it twice, awesome. If you do it three times, brilliant. And if you do it over and over, consistently, congratulations my friend, if you happen to be doing things the right way, you are officially a success.
Repetition is a common theme for most of what we do in life. When the six customer service principles discussed above are practiced consistently, customers realize over time that the integrity of how you choose to run your business is unable to be compromised.
Always remember, people buy more so because they want to, than they need to (Why do you think the average family in the west has so much debt?). Similarly, customers do business with companies because they WANT to do business with.
If your customers truly believe that your company can be counted upon, not in times when everything is fine but in times where there are problems and challenges, they will choose to do business with you because they know that no matter what you will get the job done.
About The Author
Imran Rahman is a young entrepreneur, inspirational speaker, and author living in Tampa, FL. His deepest passion in life is to share the exact science of creating results and achieving dreams. He currently writes for http://www.dreammanifesto.com weekly on success and finances.
Essential 101 Guide to Better Invest your MONEY!!
Your Essential Starter Guide to INVESTING MONEY!!
If you have been working for some time, you probably have accumulated some form of savings, and the first mistake we don't want to make is to let the money stay idle.
Imagine your current savings like a little plant, you need to constantly give it nutrients and provide the right conditions for growth to take place. Hence, if you are someone who always place your savings under a normal saving account in a bank, it is time to relook at other alternative forms to grow your money - better and faster.
One approach is through Investment. Sounds like a taunting term, and one which many people do not understand and hence never got the chance to take the first bold move.
Today, I will be sharing with you an Introduction Guide to Investment, and hope to build up your knowledge and confidence in this field to take the right decisions.
What is Investing?
1) Investing involves the purchasing and selling through financial tools including stocks, bonds, options, certificates, and more.
2) Investing can be done through financial advisors or personally, although financial advisors will charge you additional fees for their services, but they could be valuable sources of information and help.
3) Investing can be easily performed at home with a computer with an internet connection.
How to start Investing?
To start investing, you must have surplus cash. Rule of thumb: You should have at least 3 months of liquid cash - i.e: ready cash to tide you over in terms of emergencies.
Given the tons of different stocks and mutual funds in the market to choose from, it is essential to follow a few methologies to ensure better selection and return on investments (ROI) in the long run.
3 Simple Investment Methologies
1) What to buy?
2) When to buy?
3) When to sell?
What stocks or funds to buy?
The entire market consists of over 10,000 stocks, so how can we narrow down our selection to the elite stocks, and make the right buying decisions? Luckily, we have indicators such as the Dow Jones Industrial Average, the S&P 500, and the Wilshire 500 among others on the New York Stock Exchange.
The Dow JOnes reflects the average stock prices of top 30 largest companies.
The S&P 500 reflects the average stock prices of top 500 companies, representing companies that are worth 75% of the entire stock market value.
The Wilshire 5000 reflects the average stock prices of top 7000 companies.
One proven worthy strategy is through index funds, i.e invest in the indicators itself. There exists a special mutual fund which is made up of all 500 stocks in the S&P 500. This means that only are you investing in the top companies, you are also diversifying and lowering your risks, and maximizing your potential gains in the future, given the proven track records of these companies in order to be listed in the S&P 500.
What about those professional managed funds? Are those worthy of consideration? See below for clear advantages of index funds over those professional managed mutual funds.
Index funds
Lower costs, 0.2 percent
Low transaction fees
Lower tax
Low portfolio turnover
Professionally Managed Funds
Higher Cost, >2%
Higher transaction fees
Higher Tax
Higher portfolio turnover due to higher risk
Hence, for a starter to investing, the safer and obvious approach is to invest in index funds given the lower costs, higher stability, and proven good past performance records.
Are you going to trust the financial advisor and give him your hard-earned money, for them to give you false promises of high returns, and charging you exorbitant fees to support their own commission pockets. NO !!!
Hence, ANSWER on what to buy is clearly combined "INDEX FUNDS".
When to buy those stocks or funds?
We all know the benefits of compunded interest, so the faster you start buying, the more money you get to compound.
ANSWER is "Right Now" !!
You dont need to have a big lump sum of money to start, you can also invest in a periodic manner, for example invest on a monthly basis. While doing that, you are also practising dollar cost averaging technique, which is a very powerful technique. Since prices often fluctuate, there are months where the prices are slightly lower and as a result you could buy more with the same monthly investment amount you have committed to. As a result, your total portfolio value will increase substantially due to more shares bought during lower prices.
The trick is not to freak out and do massively selling, when the stocks are going downtrends for that month. By buying the combined index fund, you are already lowering your risks, coupled with the power of dollar cost averaging, you can now ignore the fluctuation of the market totally.
When to sell those stocks or funds?
After knowing what to buy, and when to buy, you also want to know when is a suitable time to sell those stocks or funds.
ANSWER: The later the better.
Based on the stock market history for the past 50 years, it can be observed that the longer the investment, the lower the risk. Based on past data, we observe the following:
Holding Duration / Risk of loss %
5 years / 15%
10 years / 5%
15 years / http://investmoney101.blogspot.com/
About The Author
Jimmy Lee
He is involved in article writing, publishing, and website design on a freelance basis amid a daytime job as an electrical engineer. His favourite works can be found @ http://flashgor.blogspot.com/ and http://diypc.wordpress.com/
Economic Recession Strategy - How To Keep Your Business Alive During Economic Recession
You may be in Mail Order, Direct Mail, E-Mail/E-Zine Marketing, or you may be a local merchant with 150 employees; whatever the case-you've got to know how to keep your business alive during economic recessions.
Long before the cash flow in a business, large or small, starts to tighten up, the money management of that business has to be run as a "tight ship." Some of the things you can and should do include protecting yourself from expenditures made on sudden impulse.
We've all bought merchandise or services we really didn't need simply because we were in the mood, or perhaps in response to the flam-boyancy of the advertising or the persuasiveness of the salesperson.
Then we sort of "wake up" a couple of days later and find that we've committed hundreds of dollars of business funds for something that's not essential to the success of our own business, when really pressing items had been eagerly waiting for those dollars.
If you are incorporated, you can eliminate these "impulse purchases" by including in your by-laws a clause that states: "All purchasing decisions over (a certain amount) are contingent upon approval by the board of directors."
This will force you to consider any "impulse purchases" of serious cost, and may even be a reminder in the case of smaller purchases.
If your business is a partnership, you can state, when faced with a buying decision, that all purchases are contingent upon the approval of a third party. In reality, the third party can be your partner, one of your department heads, or even one of your suppliers.
If your business is a sole proprietorship, you don't have much to worry about really, because as an individual you have three days to think about your purchase, and then to nullify that purchase if you think you don't really need it or can't afford it.
While you may think you cannot afford it, be sure that you don't "short-change" yourself on professional services. This would apply especially during a time of emergency.
Anytime you commit yourself and move ahead without completely investigating all the angles, and preparing yourself for all the contingencies that may arise, you're skating on thin ice.
Regardless of the costs involved, it always pays off in the long run to seek out the advice of experienced professionals before embarking on a plan that could ruin you.
1244 Stock Category Advantages-
As an example, an experienced business consultant can fill you in on the 1244 stock advantages. Getting eligibility for the 1244 stock category is a very simple process, but one with tremendous benefits to your business.
The 1244 stock encourages investors to put equity capital into your business because in the event of a loss, amounts up to the entire sum of the investment can be written off in the current year.
Without the "1244" classification, any losses would have to be spread over several years, and this, of course, would greatly lessen the attractiveness of your company's stock. Any business owner who has not filed the 1244 corporation has in effect cut himself off from 90 percent of his prospective investors.
Getting “Hard-Nosed”-
Particularly when sales are down, you must be "hard-nosed" with people trying to sell you luxuries for your business. When business is booming, you undoubtedly will allow sales people to show you new models of equipment or a new line of supplies; but when your business is down, skip the entertaining frills and concentrate on the basics.
Great care must be taken however, to maintain courtesy and allow these sellers to consider you a friend and call back at another time.
Your company's books should reflect your way of thinking, and whoever maintains them should generate information according to your policies.
Thus, you should hire an outside accountant or accounting firm to figure your return on your investment, as well as the turnover on your accounts receivable and inventory. Such an audit or survey should focus in depth on any or every item within the financial statement that merits special attention.
In this way, you'll probably uncover any potential financial problems before they become readily apparent, and certainly before they could get out of hand.
Further Considerations-
Many small companies set up advisory boards of outside professional people. These are sometimes known as Power Circles, and once in place, the business always benefits, especially in times of short operating capital.
Such an advisory board or power circle should include an attorney, a certified public accountant, civic club leaders, owners or managers of businesses similar to yours, and retired executives.
Setting up such an advisory board of directors is really quite easy, because most people you ask will be honored to serve. Once your board is set up, you should meet once a month and present material for review.
Each meeting should be a discussion of your business problems and an input from your advisers relative to possible solutions.
These members of your board of advisers should offer you advice as well as alternatives, and provide you with objectivity. No formal decisions need to be made either at your board meeting, or as a result of them, but you should be able to gain a great deal from the suggestions you hear.
You will find that most of your customers have the money to pay at least some of what they owe you immediately.
To keep them current, and the number of accounts receivable in your files to a minimum, you should call them on the phone and ask for some kind of explanation why they're falling behind.
If you develop such a habit as part of your operating procedure, you'll find your invoices will magically be drawn to the front of their piles of bills to pay.
While maintaining a congenial and courteous attitude, don't hesitant, or too much of a "nice guy" when it comes to collecting money.
Building the Strength of Your Stay Power-
Something else that's a very good business practice, but which few business owners do is to methodically build a credit rating with their local banks.
Particularly when you have a good cash flow, you should borrow $100 to $1,000 from your banks every 90 days or so. Simply borrow the money, and place it in an interest bearing account, and then pay it all back at least a month or so before it's due.
By doing this, you will increase the borrowing power of your signature, and strengthen your ability to obtain needed financing on short notice.
This is a kind of business leverage that will be of great value to you if or whenever your cash position becomes less favorable.
By all means, join your industry's trade associations. Most of these organizations have a wealth of information available on everything from details on your competitors to average industry sales figures, new products, services, and trends.
If you are given a membership certificate or wall plaque, you should display these conspicuously on your office wall. Customers like to see such "seals of approval" and feel additional confidence in your business when they see them.
Often Overlooked-
If at all possible, you should have your spouse work in the business with you for at least three or four weeks per year.
The important thing is that if for any reason you are not available to run the business, your spouse will be familiar with certain people and situations about your business.
These people should include your attorney, accountant, any advisors or consultants, creditors and your major suppliers. The long-term advantages of having your spouse work four weeks per year in your business with you will greatly outweigh the short-term inconvenience.
Many couples share responsibility and time entirely, which is in most cases even more desirable. Whenever you can, and as often as you need it, take advantage of whatever free business counseling is available.
The Small Business Administration published many excellent booklets, checklist and brochures on quite a large variety of businesses.
These publications are available through the U.S. Government Printing Office. Most local universities, and many private organizations hold seminars at minimal cost, and often without charge. You should also take advantage of the services offered by your bank and local library.
The important thing about running a small business is to know the direction in which you're heading...to know on a day-to-day basis your progress in that very direction [your dynamic Business/Marketing Plan]
Be aware of what your competitors are doing and practice good money management at all times. All this will prepare you to recognize potential problems before they arise. In order to survive with a small business, regardless of the economic climate, it is essential to surround yourself with smart people, and practice sound business management at all times.
The Misconception About Business In The Summer-
Whoever started the nasty rumor that Mail Order business is very slow during the months of July and August is dead wrong. In case you are new to the world of Mail Order you are likely to believe this rumor.
The sad part is that a lot of people in the business really believe it! Why do they believe it? Because they have been told by someone else and the rumor was considered "gospel" - so that someone told someone else and so on- sound familiar?!?
What people don't realize is that there is no foundation to this rumor. The only reason the mail order business MAY slow down in the summer months is because of the nature of the product being sold. Try selling winter clothes in July!
Some people will go so far as to stop advertising during the summer months because they are convinced they won't get any sales. Because of the drop in revenue for publishers, due to this line of thinking-
Everybody suffers and they keep the rumor alive and true. Only people believing this lie are making it happen.
About The Author
Michael Seriosa - Internet Entrepreneur http://www.iFoxMedia.com iFoxMedia.com - web development & marketing http://www.SierraFitnessTalk.com SierraFitnessTalk.com - your health is your wealth http://www.Online-Criminal-Check.com Online-Criminal-Check.com - protect your business & family http://www.LadyDoctorFatLossSecret.com LadyDoctorFatLossSecret.com - top secret fat loss secret
Shop Around For Mortgage Payment Protection Cover
Mortgage payment protection cover can be a valuable product to have in your corner if you should find yourself incapable of working. Losing your income through accident, illness or unemployment could leave you struggling when it comes to the financial commitments of your mortgage. However, if you would be eligible to claim against a protection policy then payment protection for your mortgage could provide you with a tax-free income.
You do have to make sure that the exclusions found in all payment protection policies would not stop you from claiming. Suffering a pre-existing medical condition, being retired or self-employed, or not being in full-time employment could stop you from being eligible. These are just some of the reasons frequently found in a policy and providers can add in others. With this in mind, it is essential that you compare not only the quotes but also the terms and conditions.
Exclusions are complicated so do look into them very carefully. While one of the exclusions is suffering an ongoing illness, this can be overlooked if you have not suffered from the illness within two years of applying for insurance protection. When it comes to those who are self-employed then they would be eligible to claim if they were to stop trading altogether through involuntary means.
Payment protection insurance would provide you with an income that would cover your monthly mortgage outgoings and essential related payments such as insurance. This means that you are able to recover with the peace of mind that your mortgage debt would be safe. Homeowners who believe that the state would step in and provide for them in their time of need may be disappointed. The State does provide assistance but there are very strict criteria to meet. Those who have savings of more than £8,000 or whose partner works full time would not receive a penny. Also, if you took your mortgage out after October 1995 then you would have to wait nine months before you would see any benefit, and then you would only get help with the interest part of the mortgage up to £100,000.
Mortgage payment cover is usually offered alongside the mortgage at the time of borrowing but in the majority of cases this is a very expensive way of taking out cover. A far better option is looking around and buying the cover independently from a specialist in payment protection. There are many advantages of taking out the cover this way, besides the obvious benefit of making huge savings. A lack of information given at the time of buying cover leads many to take out a policy they could not possible hope to claim against. However, an ethical payment protection specialist will make available on their website all the information needed to make an informed decision regarding the policy’s suitability.
The mortgage payment protection cover that a specialist will provide will ensure you have an income from between day 30 and 90 of being unable to attend work. Each month you would get a payment which would continue for between 12 to 24 months if needed. The relief that this payment brings allows you to recover more quickly and leaves you free to concentrate on your wellbeing and, in the case of redundancy, to find another job.
About The Author
Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance.