What is a Hybrid Car?

A hybrid car uses more than one resource of power to move. A typical sort has a gas fueled motor and a battery-controlled electric engine.

A hybrid auto’s wheels may utilize power from the fuel motor, the electric engine, or both. At the point when the auto accelerates, both frameworks may supply power. At the point when the auto travels, the electric engine may supply all the force. In the event that the gas motor is not required, it charges the battery. Amid braking, the engine utilizes the vitality from the auto’s movement to charge the battery. This methodology is called regenerative braking.

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Hybrid autos utilize less fuel than comparative estimated autos with just gas motors. Then again, hybrids are more intricate, pricey, and lavish. Toyota Motor Corporation sold the first mass-delivered hybrid auto, the Prius, beginning in Japan in 1997. Amid the 2000’s and 2010’s, hybrid autos got to be prominent with purchasers.

Are You a Victim Or a Victor of the Economic Downturn

     I’m back to work after spending 12 glorious days at the NY State Fair – a high point of every year for me. Before I left, I posted a message to my subscribers asking if they are a victor or a victim of this economic downturn. I got a lot of response to that email.

Today, I’m posting the comments from one of my SuperStar subscribers, Dan Page. One of the things I like most about Dan is that he’s not just a talker, or a whiner – he’s a doer; an action man. The action people are the ones who are doing the best in these rough times. They try one thing. If it doesn’t work, they try another, and another and another until they have success. One of my favorite quotes is from Muhammad Ali: “I doesn’t matter that you were knocked down 68 times. The only thing that matters is that you stood up 69 times.”

So, here are Dan’s comments:

Hi Paul,

Good email. Hope all is well with you. Just had to respond with a short story that would be of interest to you.

I believe the underlying skill of knowing how to get publicity can permeate your life and provide you with insights & opportunities that the average “turtle” would never notice.

Here’s an example:

I was talking with a client of mine recently who does business with large internet publishers. He helps to monetize their websites by delivering advertisers who want to get in front of their audience. I asked him if any of his clients have subscriber lists that they are not monetizing to their advantage.

The short answer was “yes”.

So we reached out to one of them, and offered to clean up their list (unsubscribe, old email addresses, etc.) at NO COST. In return, I wanted to learn about their audience and put offers in front of them that would be of interest.

So we did just that.

I surveyed their list and asked them what they were interested in. One of the questions I asked was if they would be interested in learning about how to “Create and Sell iPhone Apps” (since this is such a hot topic now). An alluring percentage of people answered “yes”.

So I went out and found the top guy in the industry that teaches people how to “Create and Sell iPhone Apps”, and partnered with him.

We presented a webinar last Thursday eve on this very subject. Response was very impressive.

In the last four days (since the webinar) we’ve generated $19,000 in Gross sales ($66 per attendee) and expect to hit $30k – $40 by Friday, when we intend to shut it down.

I’m sharing this for two reasons.

1.) This is the exact same mindset I use when writing press releases. Thinking about what my audience wants. In the case of a press release, my “audience” is the reporter. In this case, my “audience” was (a) the list owner and (b) the subscriber. Just gave them what they wanted. Same skill as generating publicity. Just different audience.

Turtles don’t think that way.

2.) My (subscriber) audience is also interested in learning how to create their own business repairing iphones and other electronic gadgets. We are currently in the process of creating a monthly subscription product for them. We’ve recruited some gadget geeks to do the gadget repair part, and I will be doing the “how to create a business” part. This may very likely lend itself to an opportunity to promote a stellar publicity expert.

Know anybody that fits that description?

3.) The “How to Create and Sell iPhone Apps” webinar was so successful, I am taking it out on the road. Already have three list owners interested.

It’s me, Paul, again.

How’s that for taking action, being creative and not becoming a victim of the economy?

When I asked Dan for permission to reproduce his comments, he agreed and added this:

“ABC news called and is interested in doing a national story on my son’s ‘PopcornForHungryKids’ program. Bringing out a film crew and following him. We’ll see!”

You’ve got to love the guy.

If you’d like to get in touch with Dan, his email address is: dan@fundingstrategypartners.com
Get the most reliable advice on how you can get massive publicity for your business at http://www.hartunian.com

Consumer Goods Organizations Take Advantage Of Business Performance Management

     Many consumer good (CG) businesses are currently playing on a very rocky rugby area. With multiple business lines, varied product families, a wild amount of manufacturers and highly decentralized operations, the planning and financial reporting process may readily become fragmented. It isn’t surprising then that each business unit, whether it’s marketing, manufacturing, financial or buying, simply tries to keep a handle on its respective region. But, short-term vision and building a complete sport strategy are very distinct goals.
Unifying Apps for Better Insight
To prevent retail myopia, a sophisticated, yet simple-to-use program is necessary to link bottom-up and top down planning processes. The right business performance management (BPM) software solution will aid consumer goods and retail companies to obtain a far broader and much more accurate view of their general business performance in addition to target particular areas where greater profitability can be realized.
In addition to traditional budget and fiscal organizing problems in other sectors, for example extended cycle times, limited workflow and model manage, in addition, there are industry-specific challenges in consumer goods companies which may be addressed by investing in a leading edge enterprise efficiency management method.
Modeling on the Fly Using a business performance management software application that offers one variant of the truth, with info which is continually updated, customers can obtain insight into proposed and real performance in numerous dimensions – by product, cost middle, customer, nation etc. By linking actuals, predictions and other nonfinancial measurements, management may easily determine which items, brands or sections are truly the most rewarding. They are able to then model on the fly to evaluate projected operation when assumptions for motorists like advertising spending, product pricing or requests in the pipe are transformed with different scenarios.
Mastering Price Optimisation and Commerce Investing
In consumer goods companies, cost optimization is an integral facet of success. Actually, even the smallest changes in a firm’s pricing policy can get an huge effect on prices and bottom line performance. BPM software might help understand which sections of the industry are most sensitive to adjustments in prices, whether pricing approaches are in line with a business’s goals and how unique merchandise types are performing in the retail or distribution store stage.
Allocating funds for industry promotional spending is another vital sector where consumer products companies need to make crucial decisions with important consequences. Using a BPM software option enables companies to explore various “what-if” situations with ease to forecast earnings based on various combinations of business spending. This information in turn could be shared with marketing to follow along with changes in customer trends and rivals’ methods to produce the most effective selections.
Improving Supply Chain Efficiency
At most consumer goods companies, stock amounts are still too much. Unless a firm uses rolling forecasts, it is probable that their forecasts may soon be erroneous, resulting in stock levels which are unnecessarily high, or worse nevertheless, also reduced. BPM software combines strategies with rolling forecasts in one program to link the gap between sales and functions, thereby enabling more accurate sales forecasts, which cause more precise purchasing and inventory choices.
All Accumulates
Beyond these consumer products sector-specific needs, a BPM solution addresses more generalized planning and budgeting issues found in other industries also. It should include a main information repository, version control, approval routing, workflow capabilities, real-time linkage to strategic programs, non-financial key performance indications (KPIs), actuals and predicts. By affixing supporting narratives to costs and plans, consumers may draw immediate comparisons between strategic programs and budgets or between budgets and KPIs, gives a much clearer image of unique places that need development or alteration.
The stakes are high. Companies which do not implement a business efficiency management software answer are offering their rivals a major advantage by default. It’s time for you to degree the playing field with the right analytical tools or risk being left behind.
Find the Cartesis Financial and Performance Management Collection
Provides best-of-breed performance management features built around one Built-in Data Model
Unifies strategic, financial, operational, tax and legal information in a single individual and protected database
Makes planning, modeling and analytic coverage an easy and flexible procedure that suits well with decentralized and multi-product types of companies
Discover more about the package’s vital
Cartesis Finance, a strong financial consolidation and management reporting program
Cartesis Intercompany, optimizing peer-to-peer intercompany reconciliation over the Internet
Cartesis Organizing, unifying modeling, what-if scenario analysis, bottomup budgeting, rolling organizing and forecasting
Cartesis Analytics, particularly created as being a performance management reporting and evaluation program with on-demand entry to actuals, plans, predictions, KPIs and other metrics

Private Investigator Marketing: Becoming a Contributor to Private Investigator Publications

     One way to increase your visibility and that of your private investigator company is to become a magazine contributor. Gain the attention of those within your business by writing articles in the publications that they read. Keep reading for tips on becoming the next contributor to your favorite PI magazine.

Writing Creates Your Private Investigator Brand

As a private investigators, you’ll need to become good at writing because there will be a lot of it. Reports for clients, reports for lawyers, reports for your files – they all need to be written. Even if you use a software program, there is no substitute for grammar skills. Those blanks won’t fill themselves in.

Writing is an art that, once cultivated, can help you greatly in your marketing strategies as a private investigator. Article marketing is free to do and can increase your exposure both online and offline. online, submitting to article directories, social media and your website all can gain higher rankings for you with search engines. Offline – gain attention, by writing articles for publications that are frequented by your peers, as well as potential clients. By publishing you establish your self as an expert in your investigation niche. This is brand marketing at its best. The simplest and cheapest way to do brand advertising for a PI.

Becoming a Contributor to Private Investigator Publications

1-Identify the publications of interest – If you have been a PI for any length of time, you probably have most of these magazines and newspapers in your office already. Read them and become familiar with the style of articles that they include.

2-Read the submission guidelines – All magazines and newspapers have them. For online publications, there should be links on the magazine site for potential contributors. Learn about formatting, content and method of submission for review. If there is any financial compensation for your articles, that will also be mentioned. Guidelines are important. Ignore them and your work may end up in the trash.

3-Create a workable idea – After reading the guidelines and some of the articles, devise your ideas for future content. Do a search to make sure that you are not duplicating past work. Look at the magazine departments to give you a leg up so you’re not wasting time on ideas that don’t fit.

4-Submit your content ideas – Send a cover letter explaining who you are and what you do. include your idea (along with working article title and bullet points) for their consideration. Already have your article written in case you receive a swift reply that they would be interested in reviewing your work. Some magazines will simply give you an email address for your submission. Include your article file along with your cover letter.

5-Ask about regular contributions – Once you have gained publication with the private investigator publication, enquire about how you may become a regular contributor if there is a position open. Be sure that you can meet the deadlines and requirements along with your regular business responsibilities.

Writing for a PI publication can increase interest in your business.

Are You Being Called Up to the Big Leagues?

     Only a very small percentage of people will be called up to the “big leagues”. Will you be one of them? Will you know how to recognize the call and how to act on it?

Last night Mary and I got to talking about people who are doing good work in a particular area, be it marketing, publicity, dog rescue or whatever. Many years may go by. Or maybe just a few months.

Then they get the call to the big leagues.

The “big leagues” may mean a whole lot more money. Or a ton of fame and other recognition. And it comes in enormous proportions, very quickly.

I got called up to the big leagues in 1995. I had been doing publicity work since 1983. Then, in 1995 the fuse was lit on my Saturn 5 rocket. My income went crazy. My name spread around the world. Speaking engagements were coming my way faster than I could accept them.

Why did this happen? Who knows. More importantly, who cares.

It happened.

The most important thing is that I recognized that I was being called up to the big leagues and I answered the call.

Only a small percentage of people get called up. My estimate is that about 2% of people in any field get “the call”.

Sadly, many of these people either don’t recognize the call – or they don’t act on it.

Mary and I were talking about the call because right now she’s being called up to the big leagues in the dog rescue world. She’s on the doorstep of enormous fame and influence in the dog rescue world. This is what she’s been dreaming of all her life. Now, here it is. She has to decide if she’s willing to act on it.

Opportunities are going to open up for her. Nationwide – and perhaps worldwide – recognition is hers for the taking. All she has to do is act on it.

So how about you. Have you already been called up to the big leagues? Did you recognize it? Did you grab the opportunity when it presented itself?

If you haven’t been called up yet, will you recognize it when – and if – it comes? Will you act on it? Will you take full advantage of the opportunites that will come your way?

Remember, only a very small percentage of people will ever get the call.

If you’ve been working as a file clerk in an insurance office for the past 12 years, you’re not getting the call. So don’t waste any time listening for it.

But if you’ve been moving forward in your business or field. If you’ve been trying different things to get ahead. If you’ve stayed on top of developments in your business or field. If you have a bigger vision of success beyond simply making more money – keep listening. You could get the call any day now.

Don’t worry, when the call comes, you’ll know it. Don’t let it slip by. It won’t keep cruising around the block waiting for you to hop on. It’ll move on to the next person, waiting to see if he’ll jump on.

If you go through your entire life without getting the call, I truly feel sorry for you. In my opinion, getting the call, acting on it and using the perks of “the call” to accomplish more in life than you every thought possible are all the very reasons you’re alive.

When I got the call, I quickly realized that all that money was coming at me for a reason. It wasn’t simply to buy more cars, more homes, more jewelry. It didn’t take me long to realize that some of the money was mine to have fun with. But the majority of it was to be used to make an impact on the world.

My choice was to use the money to make big changes in the lives of abused and abandoned dogs. I’ve already dedicated millions of dollars to rescue and animal welfare efforts. Millions more are to come.

What are you going to do with the money that comes your way when you answer the call?

Better give that some thought. The call could come at any time.

Hey wait a minute. Do you hear something? Does it sound like the big league calling? For your sake, I hope it is.
The best source for reliable information on how to get publicity for your business (regardless of what type of business you have) is Paul Hartunian’s website – http://www.hartunian.com

How Does One Avoid Hidden Charges

     Credit card processing is a complex one and the techniques involved are more secure now than they were previously when such card processing left a paper slip containing the account number but these days the transaction is completed electronically reducing scope for security threats.

Security is a major concern for customers where credit card processing is involved; no one would like the possibility of having their personal financial identities dealt with by an unauthorized party. There are very few terminals in credit card processing that allow data transmission with no encryption to make sure that the information is secure.

Across the globe merchants are running businesses where almost all transactions are done with credit cards. This makes it imperative for the business establishment or the merchants to make sure that there are no hidden costs associated with credit card processing that is going to eat into their profits.

Some of the fees involved in credit card processing:

Of course there is the processing fee and a transaction or a gateway fee charged for every transaction. Apart from these there is something known as interchange fees too and if one requires a hard copy mailed to them then an additional amount termed statement fee is also charged. And most of the processors also charge what is known as a terminal usage fee. Oops, that’s a lot of amount charged towards fees!

The interchange fee is an amount charged between banks that handle the processing of a transaction and these fees are predetermined and are not negotiable by the merchant who accepts credit card payments.

How does one avoid hidden charges?

A merchant looking for credit card processing has to shop around a bit to spot processors who do not have hidden costs. Make sure that your processor does not charge you monthly fees for using the terminals. And if they are going to charge statement fee for mailing you a hard copy don’t you think taking a printout from the online portal is a cheaper option?

Most agreements allow for renewal of the agreement between the user and the credit card processor automatically and this is when they use the terms given in small print and enhance the fees shocking you. It is absolutely necessary to check the statement every month carefully otherwise this increase in fees may go unnoticed and there are a lot of merchants who are not even aware of the existence of such automatic renewals.

Out of all the fees charged in credit card processing it is only the processing fee that is negotialble directly with the terminal provider. Till now there have been no processing companies offering zero processing fees; but yes, there is one major company that has recently launched a zero percent processing fee for a life scheme and this is truly going to take the industry by storm!

Do you realise that this can lead to savings of almost 25% to 50% of a businesses credit card processing fees? I am sure all merchants would begin to take notice of the processer and truly appreciate the savings possible from a zero processing rate.

Whatever the size of a business may be they can surely take advantage of this saving scheme offered by credit card processing company and benefit out of it.

Are You Enjoying Life Or Are You Still Hunting for the Magic Formula?

     It’s been a while since I’ve written a new article. No, I’m not working on a new project or product. Truth is I’ve been floating in my pool, spending loads of time with my dogs, reading by my pond, going to minor league baseball games and completely enjoying life.

How about you? Are you completely enjoying life or are you still hunting for the magic formula? Well, there is no magic formula. The entire “secret” is:

1 – choose a business idea to try

2 – completely focus on learning what you need to know to get this business up and running

3 – take action

The place where so many people go wrong in this formula is…well, it’s steps 1, 2 and 3.

They may claim they can’t think of a business idea to try. Aw, mule muffins. I can’t stop thinking of ideas to try. I wish I had sixteen lives to work on them all. I don’t think it’s that people can’t think of ideas. I think it’s that they come up with a list of reasons the idea won’t work, even before they try. There are stacks of books full of business ideas. The Internet is loaded with them. Ideas and opportunity are all around you every minute of every day of your life!

Then comes step 2. This step separates the men from the boys. Focus. It’s where the vast majority of people stumble and fall. They can’t focus.

Once every month I have a live coaching call for my newsletter subscribers. There are people who’ve been on these calls for years, but they still haven’t written even one press release. It’s not that my system doesn’t work. Of course it works. It’s been around for over 20 years and has a long list of huge successes.

The problem is that as soon as these people get off my call, they get on the next person’s teleseminar or coaching call and then the next person’s and the next and the next. They’re scattered all over the place. They salivate every time they get an email talking about the newest, “greatest” way to hit it big. And, instead of focusing on one thing and working it until it produces results, they run here, there, up, down and all over the place chasing the pot of gold at the end of the rainbow.

Unfortunately, rainbows only last a very short time. Then they disappear. So, the person selling you the newest miracle way of getting rich did get rich. But you got poorer. Did I hit it big and get rich? You bet I did. But it’s not because I kept chasing rainbows.

Now don’t get me wrong. I continue to invest in my education. This month alone I spent many thousands of dollars on other people’s products. But NOT because I want to establish a new business or try some new scheme. I buy other people’s products because I know they’ll help me build and improve my publicity business.

I bought a full day of consulting from one marketing “guru” I have a great deal of respect for. I know my investment will be returned to me many, many times over.

And then, finally, there’s step 3 – taking action. Once again, this is a huge pothole on the road to success for most people. I’m going to reveal a little secret to you. Yes, I’ve been enormously successful in business. I’ve made a fortune and I’ve helped a long list of other people become wealthy as well. But there’s one place I’ve failed. For most of my life I’ve wanted to be in a classic rock band. I play a bunch of instruments, but I don’t play them well enough to make the cut. Why not? I failed over and over again on steps 2 and 3. I haven’t focused enough time to practicing and I haven’t taken enough action to get the band up and running.

So don’t think that I have a flawless life. Far from it. But I do have a life that 99% of people alive today would envy. It’s all available to you. Just pick an idea to try, focus and take action.
Paul Hartunian is respected around the world as a leading expert on how business owners can get publicity both online and offline. His website – http://www.hartunian.com – is a resource center for reliable publicity advice.

Special Silk Color Business Cards

     Business cards are used by people to present other professionals as a record of their personal contact information. These cards can be used as memory aids and also help in marketing a business or further the goals of a company or organization in terms of prestige and elegance. These business cards usually contain the company logo and the designation of a person within the company. They may also be used by small business owners in their private personal showing. Small business operators really require the help of all kinds of marketing activities because they cannot afford expensive and large scale marketing methods. Business cards provide a unique way of marketing which is done with a personal flavor. People can exchange business cards at many formal occasions. There are trade shows, official dinners and training programs where many professional meet especially belonging to the same service industry. Business cards given today can generate revenues and personal contacts later on when a need arrives for the person who has your business card. Business cards should be considered important and care must be taken to keep them in top condition.

Most people do not value their business cards a lot. We believe that it is important to take some time to consider the kind of business card which is especially useful for you. There are many kinds of printing options and materials being used these days for business cards. There are many premium business cards available which are used by many people to enhance their business and show people that they are creative and like to make personal interactions by providing necessary contact information to all people who come in their contact. It is therefore very important these days that if you want a successful representation of yourself through your business card then you must select a business card out of the ordinary. There are many options that you can select to turn your card into a high quality premium business card. Thicker business cards are now being employed by people that make sure that they look smart and extraordinary when viewed together with thinner standard business cards.

There are also different printing options as well as coating options that are available for use to a person when going for a high quality business card. One can go for off-set printing done by high quality spot colors that provide excellent finish on the business cards. Coated card stock can be used which turns the paper into glossy and smooth. Spot UV coatings are also available which can also be used to create designs on the paper of the business card if done in some places while leaving others unpolished. There are also water based coatings which provide ease in manufacturing and produces higher quality of colors on the business cards. Round corner business cards can also look good. A person can also go for a business card which is in a unique shape. This option makes the card special just because of its shape.

There are many companies that provide all these services to ensure that your printed business cards look excellent and out of the ordinary when viewed together with standard business cards of people.

International Freight Forwarding: Myths About Exporting Goods

     Many first-time exporters or company managers are bothered or even hindred by the myths about exporting. They believe exporting is too costly or too difficult. But the facts written below will help a first-time exporter understand exporting more and clear all his misconceptions.

Myth #1: “My business is too small to export products; and that only huge companies with adundant resources, name recognition, and formal export departments are able to sucessfully export.”

It’s correct that large companies and firms are the ones who export huge amouts of products, but the fact is that the majority of exporting companies in most nations are the small and medium-sized businesses.

Myth #2: “I can’t afford to export goods. I do not have funds for marketing overseas, hiring new employees, or expanding my production.”

There are different low-cost methods to promote and market abroad, finance receivables, and handle export orders. This doesn’t necessarily mean you have to hire new people or establish an export department. With only little or no cost, for instance, you could get product and country market research, find qualified overseas distributors, produce trade leads, and receive global market exposure thru different Commodity Boards and Export Promotion Councils.

Myth #3: “I can’t compete with big overseas business firms. My prices are too high and my products are unknown to be sold in foreign markets.”

If your product is known in local market, then that is a plus point. But keep in mind that even an unknown product could be exported in a foreign market. A low demand on a certain product does not suggest that it will not be accepted in an international market. Price is equally vital, but that’s not the sole selling point. Other competitive factors you can focus on are but not limited to: product quality, consumer taste and preference, and service. These may override the price. Additionally, product prices may not be high in nations with a strong currecny, such as European countries.

Myth #4: “Exporting products is too risky. I may not get paid.”

Selling anywhere involves risks, but it could be alleviated with proper precautions. To ensure that you get paid, make sure you use L/Cs or Letters of Credit. An L/C is a letter from a bank guaranteeing that the payment of the purchaser to the seller will be received for the right amount and on time. In case the purchaser is unable to pay for the products, the bank will be required to settle the remaining cost for the purchase. Proper documentation can reduce the risk in the export industry.

Myth #5: “Exporting poducts is too complicated. I won’t be able to undestand the laws, policies, and requirements in documentation.”

You do not have to be an export before you could export products. There are lots of online resources that can help you know and understand the ins and outs of exporting. You can also consider investing in several books in exporting, ask people you know who have experience in this types of business, or seek the help of professional international freight forwarders.

Groupon Frenzy – Helping or Killing Your Spa Business?

     While speaking at a tradeshow recently, the Groupon topic came up and I expressed my opinion.

I explained to the audience why we don’t do it and many of the attendees said, “AMEN.” It seemed that many in the class had tried it and are feeling the pain. But, is it bad for everyone? And if it is good, who is it good for?

Why is Groupon one of the fastest growing companies?

They are getting richer and richer every day from business owners and their hard work. I am not a fan of this marketing strategy. Why? Because it is sooooooo expensive!!! There are many other economical marketing strategies to drive business into your spa without breaking the bank.

Let’s start by briefly describing what Groupon is in case you are not familiar with it.

Groupon is a website offering consumers big discounted DEALS on a wide variety of products and services. They send a daily e-mail notifying subscribers of local bargains that are likely to resonate with shoppers, like a $120 massage for $45. Businesses pay Groupon nothing up front. But Groupon typically takes 50% of what consumers pay for the Groupon. That means the XYZ Spa is providing a treatment that usually costs $120 and only collects $22.50. Groupon gets the other $22.50 regardless of whether the consumer uses the Groupon or not. By the time you pay your therapist, your product cost, your credit card fees and other expenses, etc., you are in the hole!

Most spas do this because:

1. They think they are going to bring new people into their spa.

2. They think they can retain more people, even though the price is actually below cost!

I feel it is my duty to open your eyes to some things you may have not considered. You need to take a step back and understand the effects Groupon has on your business.

Getting Real

Who is benefiting from Groupon? Groupon. They make 50% no matter what. Consumers who are bargain hunters receive big savings.

Fact: Clients who use Groupon are bargain hunters. Yes, you may get some new clients, but these people are of a certain mindset. They are looking for deals. They look for things that are substantially price-reduced and wait for them to be offered at a sizeable discount. They are deal hoppers. The only thing they care about is the discount they receive. It is not your brand, your experience or your products. It’s all about the size of the discount. They are the least loyal people when it comes to retention. Is this the type of client you desire? I don’t think so.

Groupon Effects: Trains your clients to wait for the next deal. Groupon essentially trains consumers to wait for the perfect sale. This will hurt you in the long run, as each Groupon you issue potentially lowers your profit. When The GAP (clothing) issued a national Groupon, they lost $7.5 Million!!!

You need to factor in all of the costs associated with having a Groupon deal.

Factoring in your Spa Costs: How much is your labor cost? How much is your treatment cost? What are your operating costs? This will help you determine the price point to at least “break-even” or make some profit.

If you are going to try Groupon anyway, then please keep the following in mind:

1. Be prepared for the traffic. Make sure you have enough people to handle the traffic flow. Have a system ready to take reservations and teach your team to at least upgrade the treatment.

2. Set a short expiration date, as you don’t get paid until the Groupon offer is over. This can affect your cash flow.

3. Limit the number of Spa Groupons to be sold. This is a very wise practice.

4. Deliver a great experience. WOW these bargain hunters with something that isn’t normally done at every other spa. Be unique. Maybe offer them a very inexpensive membership since they like low-priced items.

5. Promote your loyalty program to increase your retention. Capture their e-mail address. Make it extremely easy for them to do this. Another is to offer an incentive to give up their e-mail address.

6. Reserve their next appointment before they leave. Follow up with them.

7. If you don’t do any of the above 6 steps, you will find yourself in a big hole.

Good luck!