Note: Some Links may be out of date.

Blitz Ezine # 213 May 5, 2003
Web Business Help - Making Bookkeeping Easier

Note: This is an archived issue. Some links and/or content may be outdated

The Blitz-Promotions News Letter.
Issue no. 213, May 5, 2003

************ In This Issue **************
Comments
Food for thought
Articles
The Classifieds
Next Issues
++++++++++++++++++++++++++++++++
Blitz Comments
++++++++++++++++++++++++++++++++

We practiced what we've been preaching and took the weekend off. We had a wonderful time. I only answered my email five times and I think that is a record. Also don't forget your Mom this weekend. My Mom still wonders what I've been up to when I give her a big hug :o).

An overview of our promotion packages -

http://www.blitzpromotions.com/compare.htm

http://www.ineedlinks.com/freelinks.htm

Coming Next Issue -
Your webstats and what they really mean.

+++++++++++++++++
Food for thought
+++++++++++++++++

Know what you want to do, hold the thought firmly, and do every day what should be done, and every sunset will see you that much nearer the goal. Author: Elbert Hubbard

+++++++++++++++++++
Finances and the Long Haul
Part 2 - Bookkeeping made easier
+++++++++++++++++++

This past tax season it took us a couple of hours to do our taxes, because we created a system and stuck to it. The system we use is only used as an example, you can tweak and tune it to fit your needs. The only thing you must do is to follow the plan that you make.

Tracking your sales and purchases -

Create your filing system.

1. Create folders for every month and put them in an accordion file.
2. Create an Income folder.
3. Label a small brown envelope " Car - Month" ex. Car - May.
4. Label a large brown envelope "Car".

After a sale -

Print the invoice, enter the transaction into your finance software (since I use Quicken, that's what I'll call it) - make sure to use appropriate categories for your business - the more specific you get, the better you'll be able to tell how your business is doing. (Instead of using a general category like Toys - use a specific one like - Toy trains. This will not only let you know how many toy trains you sell, but will let you know which month you sold the most, which month you sold the least etc.). In the comments section for the sale add how you got the sale - advertisement, search engine, pay per click, referral, repeat customer, etc. Put the invoice in your Income folder.

When you spend something for your business enter it into Quicken. Put the receipt in your file folder.

Put the small brown envelope in your car. At the first of the month write your starting mileage on the back of the envelope. When you buy gas, oil etc., for the car, put the receipt into the envelope. When you start a business trip write the starting and ending mileage on the back, and include an explanation of the trip.

Example:
4-15-03 - 11505 - 11705 - 200 miles - Trip to Jane Doe's in Lexington, Ky., to pick up proofs for the new catalog.

Have something that needs to be recorded but didn't get a chance. Write a post it note and put it on your monitor.

To Do List - Add this list to your planner.

Weekly -

1. Clean out your wallet and purse of receipts - any you haven't added to Quicken, do it now.
2. I pay our bills once a week on Saturday, and it has worked well.

Monthly -

1. Review your checking, merchant account, credit card statements. Make sure that your sales invoices match. Mark each of the transactions as complete. Add any fees, monthly payments (from the checking acct.) into your software.

2. Get the envelope from the car - total the mileage, and receipts. Add this to Quicken. Put the small envelope into the large one labeled cars.

3. Balance your check book.

4. Are you putting money aside for a rainy day, your retirement, something fun? Did you spend a percentage of your profits on advertising?

Quarterly -

1. Pay your taxes.

2. How is your business doing. Compare your income and receipts from last quarter and last year. What's working? What isn't? Are your expenses under control? Do you need to be thinking about spending some money, to lower your tax bill?

3. Plan next quarters sales, promotions and big expenditures. If you have any big bills that only come around once a year, make sure you note those as well.

Till next week - take care.

Next Lessons -

Part 3 - Your webstats and what they mean.
Part 4 - Useful formulas - money and your stats.

+++++++++++++++++
Is your website Growing or Slowing?
By Paul Barrs
+++++++++++++++++

There are many ways to determine your website's success. The unfortunate part in this is that most website owners are completely unaware of what numbers they should be looking at on both a weekly, monthly and yearly basis.

In a nutshell - the numbers tell the whole story.

First up, before you can begin to analysis your website's success ratios you must determine exactly what it's primary and then secondary objectives are.

EG. Is your website set up to take e-Commerce orders Online vs. Is it's goal to generate leads for sales follow up.

As a final outcome, one of these two options will most likely be your final measuring stick. That's easy to see and understand. However, there are also many other numbers you can and should look at to then help improve and increase your success ratios.

1. It begins with traffic. Next time you go into your website's statistics data area take a look at how much over all traffic you are getting. Next, look more carefully at your traffic to see whether it is "targeted" to your website with a high level of interest in what you have to offer, or whether it is just general "run of the mill - I found you by accident" traffic.

How can you determine this? Easy. First look at what search engine phrases people used to find you. If you're selling short stay accommodation packages for the north of Sydney and one of your top search phrases is "overnight accommodation north Sydney" then this is targeted. If one of the top search phrases is "family accommodation Sydney Australia" or "sandy beaches Sydney" then this is untargeted traffic.

Another key you can look at is the average time that your website visitors stay on individual pages, and also where they navigate through your website. As with most websites the highest pages views go to the main page - but where do they go after that? How long do they stay on pages? This allows you to determine if they are actually reading the content of your pages of just 'browsing'. Targeted traffic visitors always read the majority of the content of your information pages.

Once you have determined the percentage of targeted traffic to your website, you can then compare that to actual "sales". That could be either Bookings Online or Contact Forms submitted, depending on your goal and your set up.

2. Another area to look at which relates to long term success is how many of these people subscribe to either your free monthly e-Newsletter or your free email information pack. This is another very important number.

Calculate the percentage of visitors to your site vs. subscribers. If it's under 5% then you've got some serious work to do. Your goal here should be to obtain at least a 10% conversion ration to 'free contacts' where your visitors give you permission to send them future information.

If you find that your actual 'sales' conversion ration is low (under 5%) you may want to give serious thought towards boosting the profile of your free information services.

Once you've received permission to send a prospective client information by email and you then make sure they get good quality information, you can then keep them as a "free customer" for many years - which will eventually convert them to a paying customer.

3. Finally, you should set aside the time to review these numbers at a minimum each month and then make changes to your website accordingly.

A website on it's own it usually nothing more than a waste of time and money. Your site must be geared towards performance and results, not just free information. People love free stuff Online, and they will milk you for everything they can get.

My advice is that you capitalize on this 'freebie' mentality and use it to your advantage.

Paul Barrs
==========================================
(c) Paul Barrs 2003
http://www.paulbarrs.com
Paul Barrs's website "Home Business Mastery" is fast becoming one of the top Home Business Resources Online. Visit today and subscribe to his free weekly audio seminars through his eZine Home Business Gold.