Member You - Internet and Businesses Online

Reports of Profits & Balances
Profit & Loss Statement; Balance Sheet; Trial Balance - what do they all mean?A Profit & Loss Statement (P&L) is a summary of all the income and expenses for a business over a given period of time. At the end of a period a profit or loss for the business is calculated by deducting total expenses from total income. The period in question can be any length of time but is typically a month, a quarter of a year (3 months) or a full year. Both income and expenses can be shown listing the amounts for each account or else in summary form. A P&L not only reports whether a business is profitable or not but a detailed P&L can indicate why a certain result is achieved. The amount for each type of income and each type of expense can be compared to a standard. The standard may be a budget or a financial ratio or an industry comparison. These concepts will be dealt with later in the series.A balance sheet (BS) shows the assets, liabilities and equity of a business at a particular point in time. Again the point in time can be any day but is typically reported at the end of a month, a quarter or a year. A BS shows at any point in time what the business owns (assets), what the business owes to others (liabilities) and the net position of the business (equity). The balance sheet equation can be represented by:Assets – Liabilities = EquityIn other words if total assets is greater than total liabilities then the owners of the business have positive equity or positive ownership in the business.A trial balance is a listing of all transaction accounts (income,

what you think!"

Put this link next to some testimonials that you've already gathered to give customers an example of the kind of feedback you're looking for.

A more effective method is to create an autoresponder that contacts your buyers after they've purchased your product -- even a month later -- to ask how they're enjoying the product, as well as giving them a chance to offer feedback on their experience with your business.

And, of course, any time you receive a great letter or e-mail from a customer, ask them if you can use their comments on your web site to recommend your product to others. If they were happy enough to let you know, they're bound to want to spread the word.

If you haven't yet begun selling your product and have no feedback yet, offer your product or service for free to a select group of customers in exchange for their thoughts on the product or some details on their experience with your site.

The impact that testimonial will have on your bottom line will be well worth the initial expense!

As soon as your online business is up and running, make a point of giving every one of your customers a chance to share their experiences with your product or service.

Ask for feedback -- good and bad -- in your autoresponders, your newsletters, and other spots on your web site.

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STRATEGIES FOR USING YOUR TESTIMONIALS AS EFFECTIVELY
AS POSSIBLE
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Once you've got some testimonials to share with your visitors, you need to make sure that you're putting them to the best possible use on your site.

Always make sure that you...

- Include your best testimonials front and center on your homepage, like in your sidebars, or even above your headline.

- Place some testimonials right in the middle of your homepage salescopy to keep your readers focused on your credibility as you outline the features a

Two Money-Making Tips for Adsense Publishers
Fighting and struggling to make more money with Adsense?Here are some tips:1) Concentrate on a single block of ads if your website isn’t getting lots of traffic.Overview:Google is smart… we love it, but we hate it. However, since they came up with Adsense, everybody gone mad on publishing their ads to make some quick money. But here comes the question.What are you fighting for?More clicks or more money from a click?Problem: more ads you have, lower the cost of the click. You could get 10 clicks and make 0.50$ because most of the clicks will get 0.05$.Solution: concentrate on a single block of ads. The high payers will have their ads there, and if you get a click, then you will get more than 0.50$ for that one.2) Focusing on the hot zones of your webpageRight after you sign up with Google’s AdSense publishing service, you are invited to see some videos.You will see in one of the chapters a slick idea of how to position your ads in order to get clicks. The left side and the upper side of your page is more likely to get clicks.Don’t spread ads in other places, stick with the rules. What works for others will always work for you.Notice: I have been testing ad positioning in the last months and I realised that having an ad in the middle of an article could do well.Before closing, remember, you have to test and see what really works for you. Each website it’s different, but Google wants to make money with you.But in the end.... it’s

We want to talk to you about why your customers' successes, triumphs, and positive results are SO important for your business.

The fact is, even if your web site is full of great sales copy and photos that illustrate all the fabulous features and benefits of your product or service, your potential customers still need to know:

What do people who have actually purchased and used your product or service think about it?

It's simple: your readers know that YOU believe in your product, or you wouldn't be selling it! But what do people with the same problem or need that they have say about your product?

Answering that question is one of the most fundamental tasks your web site needs to accomplish -- and it's as simple to do as it is important.

By using testimonials -- reviews and comments from your satisfied customers, in text, audio, or video format -- on your web site, you not only answer the question, you also transform your sales pitch into a credible, unbiased recommendation for your product.

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OVERCOME BUYER SKEPTICISM WITH A *GLOWING* TESTIMONIAL
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As said before, adding testimonials is probably one of the easiest ways to improve your web site -- but a good one can generate more selling power than some of the best salescopy out there!

So why are testimonials so effective?

*Testimonials build trust: Whether your customers are raving about what your product has done for them or about the great service you gave, they are telling your visitors first and foremost that they had a positive experience with your products and company.

*Testimonials aren't "salesy": Because testimonials aren't written in your "voice," they stand out in your copy as candid and unbiased accounts of how well your product works.

*Testimonials overcome skepticism: A good testimonial has the power to convince even your "tough sell" visitors that your product or service really made a difference in your customer's life -- and can help them, too.

For example, let's say that you're selling a special lotion designed for dry skin. A visitor finds your web site -- a person with dry skin who needs some relief -- and reads all about the amazing moisturizing ingredients in your product and how wonderful it smells.

Those are two good selling points -- things that people would want to know before they decided to buy.

But lots of products can make those promises -- and many of them don't work! So why should they purchase your product ahead of all the rest?

Then, as they look over the page, a testimonial catches their eye from one of your customers, explaining that your lotion quickly healed a lifelong, agonizing skin condition -- something no other product had ever managed to do!

That's the power of an effective testimonial: it can convince your reader that your product DOES work -- and that you can be trusted to deliver on your promises.

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HOW TO CHOOSE THE *RIGHT* KIND OF TESTIMONIAL
TO TURN YOUR VISITORS INTO CUSTOMERS
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When you're choosing testimonials, there are a few key ingredients to look for that make the difference between an ineffective testimonial -- and one that sells.

Here's an example of a glowing, but ultimately ineffective testimonial:

"I love this product! I can't get enough! I'm so glad I bought your stuff and I'll be back to get more, for sure!"

What could be wrong with that? It sounds like you have a happy customer on your hands!

But what does this testimonial really tell your visitors? Does it prove that the product works, or explain exactly how your customer benefited from using it? While the feedback is definitely positive, the testimonial does not provide enough detail to have any real impact on your visitors.

Here's an example of the kind of effective, benefits-driven testimonials that we include on our own web sites:

"I used the methods you told me to use and for three days my phone's been ringing! I sold over $3500 in goods and services in three days! It's the first time in 5 months that anyone had really purchased anything..."

Now that's a great testimonial! But what makes it so powerful?

Let's break down the elements of an effective testimonial in more detail...

- A GOOD TESTIMONIAL IS FILLED WITH BENEFITS: A comment like, "This product is great!" is nice for you to hear, but it doesn't tell visitors what your product can actually do for them.

You want the benefits of what you offer to be front and center in every testimonial: "This product doubled our profits in a month!" or "This product made the pain in my back disappear completely -- and did it fast!" or "We've never seen any product that could get the rust off our car without damaging the paint -- until now."

- A GOOD TESTIMONIAL SUBSTANTIATES YOUR CLAIMS: If you say your product can do something, your testimonials should back up your promises -- complete with actual facts and figures.

How much money did your customers save by using your product? How much time did they save by using your service? How did it solve their problems or improve their lives?

- A GOOD TESTIMONIAL IS FROM SOMEONE YOUR AUDIENCE CAN RELATE TO: You want your visitors to see that your product helped someone just like them, seeking the solution to the same problem your visitors have.

Make sure your testimonials come from someone with whom your target market can identify.

If you sell primarily to seniors, for example, ask your customers if you can include their age along with the testimonial. If you are selling to moms with children, ask if you can mention how many kids they have -- or include a photo of their family!

- A GOOD TESTIMONIAL IS CREDIBLE: Accompany each testimonial with the first name, last name, and hometown of each testimonial-giver to show that your endorsements come from real people. Always try to include a photo as well.

And if you can, take it to the next level by including audio or video testimonials for maximum effect! Do anything you can to help your visitors connect with your testimonial- givers on a personal level.

- A GOOD TESTIMONIAL ENDORSES THE KEY BENEFITS OF YOUR PRODUCT: Your testimonials should emphasize the key benefits of your product.

It's fun to hear that your super-duper floor cleaner smells nice or that the bottle doesn't drip -- both things that matter to people who would consider using your product in their homes -- but have you established that it cleans their floors well?

- A GOOD TESTIMONIAL IS COMPARATIVE: Did your customers try another product that didn't work before they found yours? You want your visitors to know what your product can do that other products can't. Choose testimonials that set your product apart from your competition!

Now that you know what you're looking for in a testimonial, how do you actually gather the reviews you need from your customers?

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THE SECRETS TO GETTING GREAT TESTIMONIALS
-- EVEN IF YOU HAVEN'T SOLD A THING YET!
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If your customers have given you positive feedback on your product already, then you may already have some great testimonials to add to your site.

However, if your customer response is a little scarce -- or if you're just starting out -- getting testimonials from your buyers might take a little more effort.

So how do you collect the testimonials you need -- and keep them coming as you grow your business?

One easy way to collect testimonials is to include a link on your site with a form that allows your customers to give you their vote of confidence: "Tell us how this product changed your life!" or "Click here to let us know what you think!"

Put this link next to some testimonials that you've already gathered to give customers an example of the kind of feedback you're looking for.

The impact that testimonial will have on your bottom line will be well worth the initial expense!

As soon as your online business is up and running, make a point of giving every one of your customers a chance to share their experiences with your product or service.

Ask for feedback -- good and bad -- in your autoresponders, your newsletters, and other spots on your web site.

-------------------------------------------------------
STRATEGIES FOR USING YOUR TESTIMONIALS AS EFFECTIVELY
AS POSSIBLE
-------------------------------------------------------

Once you've got some testimonials to share with your visitors, you need to make sure that you're putting them to the best possible use on your site.

Always make sure that you...

- Include your best testimonials front and center on your homepage, like in your sidebars, or even above your headline.

- Place some testimonials right in the middle of your homepage salescopy to keep your readers focused on your credibility as you outline the features a

Small Business Websites - 10 Steps To Success
Tips on Designing Your Small Business WebsiteThere are all sorts of websites out there, and clearly some of them are working much harder than others. How can you be sure your website will be a champion?The key is website planning and strategy. Think of your website as an employee and make sure you hire the right one. If you approach this project with clear goals in mind, you will be rewarded with a lucrative asset to your business. What’s most important? The questions below will get you started.1. What are your specific business goals?How could your website help you achieve them? Need to increase sales through cross selling? Your website could educate customers about using your products or services together for greater value. Need to reduce time spent in customer service on the phone? You can promote your website as your primary customer service centre, helping to redirect queries that can be easily solved. A little time spent planning a job description for your site will result in a website that works harder for your money.2. Who is your target market?What are they looking for in your type of business? Your website will have to appeal to them and speak to their needs. If your site clearly addresses your customers’ needs, visitors will spend more time there and will be more likely to become paying customers. How can your website add value for them? If you need ideas have a look at competitor websites and imagine you are their customer. Identify what they have done well and capitalize on their mistakes. Look at other websites that

l" visitors that your product or service really made a difference in your customer's life -- and can help them, too.