Profit From New Economic Data
By: Ed Wills

The new economic report is good news for small business.

The National Association for Business Economics released a new report indicating that America's economic is continuing to recover. This is great news, especially considering recent uncertainties.

Here are the basic numbers.

- 31% of businesses increased their number of workers in the past quarter.
- 39% of businesses plan to increase workers over the next 2 quarters.
- 50% fewer companies reported layoffs during the past quarter compared with the same period a year ago.
- 52% of companies reported increased demand for goods and services resulting in improved sales.

But not all the news is good.

- The stock market continues to be unstable as it absorbs and interprets new regulations.
- The housing market and real estate in general continue to be sluggish.

This information is not just academic. There are clues here indicating how to best invest you time and money to take advantage of changes in the economic climate.

First, the stock market is a poor place for your money. This is no surprise to anyone who has lost half of their retirement investment in stocks or mutual funds. Unless you are a very adept trader who can capitalize on market volatility, the stock market should be avoided. But don't confuse the ups and downs of the market as an indicator of how the economy is doing. The stock market is largely driven by emotion and speculation. Economic data may fuel the emotion, but the market will almost always over react, then over correct. So if the market falls 2000 points, it is not an indicator that the economy has collapsed any more than its 2000 point climb late last year indicated that the economy was completely healed.

Second, real estate is not where you should invest - yet. Some apparent relief earlier this year was largely due to government programs that have expired. Now, foreclosures are continuing to climb, and there are fewer new home starts. Real estate will likely bottom out in a year or two, but recovery is likely to be slow as the huge foreclosure inventory is absorbed by the marketplace.

So where is the right place to invest? Consider new business investment. As the economy strengthens, companies will be hiring employees and contracting new service agreements. The technology and business services sectors are likely to recover at a faster rate than the overall economy.

Express Employment, a franchised employment services company, reported an all-time record for weekly sales volume in June.

Intel reported increased sales for server chips, an indicator that US businesses are spending money on improved technology. They are also predicting a 20% improvement in PC sales, largely driven by companies increasing workers.

The BNZ index, an index of the business services industry, rose 2.2 points in May (most recent data available). This indicates continued expansion in the business services industry.

So if you are considering starting a new business, or just looking for a place to invest your money, business services is worth a close look. Besides employment services and technology, consider starting a business that focuses on consulting, marketing, supply management, sales training, and facilities management and maintenance.

If you are nervous about venturing into entrepreneurism, there are franchises that will assist you in setting up your own business in each of these sectors. A franchise will also provide your new startup with an established name and 50 year reputation. These are big plusses when approaching businesses for new business. Also, each franchise has developed a proven success formula that can be verified by you during your investigation and validation period.

However you approach your investment, it is time to quit worrying about the future and start creating your future. The tide is rising. Catch the wave.

Ed Wills is a franchise and small business startup consultant with WFA Franchise Consultants. He specializes in helping people identify business opportunities that will help them reach their personal and financial goals. He writes, speaks and coaches on a variety of business and success topics. You can learn more about his services or request a free consultation at www.WFAFranchiseConsultants.com.

Article Source: Profit From New Economic Data

Franchise Business Course

If you have not already signed up for my free franchise business course, now is the time.

In this course you will learn:

- The three basic business models and each model’s probability of success
- How to select which model is right for you
- How to choose an industry
- How to use a consultant in business selection
- How to translate your interests, skills and goals into profits
- How to finance your new business
- How to manage your new business

This course is absolutely free and will be emailed directly to you from info@WFAFranchiseConsultants.com.

Request Free Franchise Business Course.

Climb the Buyer Ladder

Climb the Buyer Ladder
By [http://ezinearticles.com/?expert=Ed_Wills]Ed Wills

Where does your product or service fit on the buyer ladder? Could moving your product or service up a rung on the ladder increase sales and improve your core business? Absolutely.

First, let's take a look at the ladder.

High Emotion - Significant Uniqueness

Low Emotion - Significant Uniqueness

High Emotion - Little Uniqueness

Low Emotion - Little Uniqueness

Luxury products such as Harley Davidson motorcycles, fine wines and diamond jewelry tend to fit on the top rung of the ladder. These products tend to carry a good deal of status and a high price tag. Purchasers will spend a good deal of time considering the purchase and making sure they are buying pleased with it. Everyday "brandless" products tend to fall on the bottom rung of the ladder. For example, what brand of paper clips are in your desk? Purchasers tend to spend little time considering the purchase and will probably just buy the cheapest one or the most convenient.

The key to a marketer is to raise your product or service up a rung on the ladder. Major corporations do this all the time. Look at the high emotional content of a Charmin toilet tissue ad. Do we really need an emotional attachment to our toilet paper? Marketers also attempt to increase uniqueness. Kleenex and Puffs go head to head with designer packaging, added lotions and pastel colors. That's a lot of hype for something you are going to blow your nose with and throw away. So whatever your product or service, there is probably a way to increase its emotional involvement or perceived uniqueness.

Automotive repair shops can email digital photos of customer's cars during the day to show progress of the repair. This will increase consumer involvement in the process and elevate emotional attachment as well as provide a unique attribute of your shop compared to other shops that do not provide that service. Customer surveys are great tools for increasing a consumer's "ownership" in your business. Community involvement including sponsoring juvenile sports, high school drama clubs, and public charitable assistance are great ways to increase a community's sense that your shop belongs to the community and not some absentee corporate entity. There is no greater coup for a marketer than to get customers to refer to a shop or service provider as "my coffee shop", "my book store" or "my mechanic".

If you are part of a franchise, your franchisor's marketing support has probably already done the leg work for you, developing ad campaigns that involve emotional attachment and create a sense of uniqueness. If you are an independent entrepreneur, the cost of bringing in a marketing consultant might seem daunting, but could be worth the expense. Another option is to spend some time surveying your existing customers. Find out their likes and dislikes. Why do they do business with you? Find their emotional attachment and use it to market to others.

So invest some time and effort in finding ways to increase emotional attachment or perceived uniqueness of your product or service. You will be pleased with the long term benefits.

Ed Wills is a franchise and small business startup consultant with WFA Franchise Consultants. He specializes in helping people identify business opportunities that will help them reach their personal and financial goals. He writes, speaks and coaches on a variety of business and success topics. You can learn more about his services or request a free consultation at [http://www.WFAFranchiseConsultants.com]http://www.WFAFranchiseConsultants.com.

Article Source: [http://EzineArticles.com/?Climb-the-Buyer-Ladder&id=4668956] Climb the Buyer Ladder