Business Tips Guides

My first love is music, hands down. I front a band called You Can Call Me Al (in honor of that wonderful musician, Paul Simon — one of my greatest influences). I play guitar, sing and play alto saxophone, depending on the gig, and I love doing all three.

There’s nothing quite like getting up on stage and belting out the blues while people sing along, dance, drink and laugh in the audience. It’s such a rush to see people having fun in the crowd! The problem is, for a bunch of aging hippies like me and my band mates, the tip jar rarely covers the night’s beer consumption, let alone pays the bills.

That’s all right, though, because I’m lucky. I’ve got another love, which is writing, and I might have finally found a way to something I love and actually make some real income! I’ve been waiting for a gig like this. And I’m so excited that it’s finally here!

I’ve actually been writing articles about my music (and my day job) for a few months now. I’ve done the research and submitted articles myself to several different content sites in an effort to drive traffic to my new blog, called Beatin’ the Blues. My blog is mainly there to talk about the music, but I’m also thinking about joining a couple affiliate programs.

Currently, I have a decent-paying day job selling multi-level marketing products, but it’s so far from what I enjoy doing I can’t tell you! It makes me enough to get by on, but I’m ready to put some money away for my retirement and the kids’ college. Taking on a 9-to-5er doesn’t appeal to me, since it would probably mean backing way off from playing two or three gigs a week. The operative word is “aging” after all!

If possible, I want to keep playing music at least that often, and set up a new online revenue stream for supplemental income. I’ve heard that if you do it right, you really can succeed.

I’ve checked out several affiliate programs, so I’ll start by talking about some of those. The first one I found is called Article Post Robot. It’s a goofy name, but they have three different affiliate programs you can sign up for. The first gives you 40 percent, or $40-$50, of every product sold on your site. The second one is also 40 percent, at $35 to $40, and the third gives only 25 percent, estimated at about $8 per sale. I’m feelin’ the first two; maybe not so much the third one.

The first program is an affiliation of Article Post Robot itself, a software system you purchase that allows you to post articles on sites around the Web. Personally I’ve been down that road with the software, but I still might be willing to join their affiliate program!

Some people prefer to use software that lets them control where their articles end up. At this point, I’m looking for the widest distribution to the largest lists possible. Moving on!

Another site I am looking at is called iSnare. They do it a little differently, using a referral rather than a straight-out affiliate program. It works like this: For everyone you refer to use iSnare’s service (everyone who then purchases article posts) you earn free article post slots. You get one post for every five slots your referral buys, six for every 40 slots on up to 10 for 100 slots purchased.

There is an option to submit articles for free on iSnare, and like any new system I explore that’s the one I’ll start with. To be distributed to the entire list, you must pay a fee for your post. Definitely an option — if I like what they have to offer after a little more exploration.

I read about Article Marketer when researching Jason Develvis’s website, Adventures in IM. He has a lot of great advice about how to market yourself online, and he is an affiliate of Article Marketer, so I decided to check them out.

Article Marketer has a very attractive affiliate program. You put their links up on your site, and they pay you 50 percent their sales made through your website. Then, if one of your referrals becomes an affiliate, you get 5 percent of those sales too! Seems almost like they’re giving away too much. I wonder if there’s a catch.

I’ve read through their spiel and it seems pretty air-tight, but again I’m a skeptic. I’m going to sign up for their free service before I make a commitment to post their links on my precious blog.

So there you have it! I guess for me the jury’s still out on these affiliate programs. But now you’re at least semi-informed. So, what are YOU gonna do? Hopefully start making the big bucks, right along with yours truly.

Johnny Albertson is a musician, blogger and writer. Visit his blog, Beatin’ the Blues for more insights and pearls of wisdom. Johnny is a big fan of Article Marketer, an online article distribution service.

Up to 75% — or more — of business-to-business transactions today are governed by contracts. Think about it: leases, consulting arrangements, equipment rental, insurance policies — even that agreement with the cleaning service. As they’ve multiplied, contracts have also become increasingly complex. And each creates rights and imposes obligations.

Businesses can’t live without contracts. But it’s often questionable how well we’re living with them. Negotiated agreements can be assets or liabilities, depending upon how well they’re managed.

THE RISKS OF POOR CONTRACT MANAGEMENT
What’s hidden in the fine print in your filing cabinets can threaten the health of your organization. The business, legal, and financial risks in failing to effectively manage contracts are substantial. The costs may be hidden, but they are real.

Overlooking an automatic renewal date on an unfavorable contract can multiply your costs over a period of years.

Consider the impact of a missed escalation clause, un-enforced delivery date, or failure to give required notice of a price increase. People don’t intentionally ignore these key milestones. Expensive slip-ups like this often happen simply because no one noticed the deadline in time.

Then there’s the true boogeyman. Poor administration of contracts makes disputes more likely. And settling disputes entails legal expenses and, potentially, costly litigation.

BENEFITS OF GOOD CONTRACT MANAGEMENT
The risks of poor contract management are clear. The inverse is also true: the potential upside of good contract management is substantial.

The list of benefits is long. At the very top are visibility and control.

By implementing an effective contract management system, an organization gains visibility into what contracts it has and control over the impact of those contracts.

There may be opportunities to consolidate vendors. Unsuspected waste. Companies have even realized they’re paying service agreement fees on equipment they haven’t used in years.

SOLVING THE PROBLEM
You’re convinced that better managing contracts is vital. But how do you go about it?

Administering negotiated agreements via hard copy files is labor-intensive and notoriously ineffective. Internally developed spreadsheets are a band-aid at best.

Fortunately, technology comes to the rescue. Any number of software developers have turned their attention to the issue and come up with applications designed specifically for contract management.

Contract management software puts you in control.

You’ll be better able to meet your contractual obligations and to ensure that other parties meet theirs. Within each contract, you’ll gain visibility into key dates and milestones, obligations and requirements (both yours and the other party’s).

You’ll be able to begin negotiations of contracts coming up for renewal in a timely fashion, improving your chance of obtaining favorable terms. And you’ll avoid the automatic renewal of unfavorable contracts because you won’t miss giving the necessary notice. You’ll give required notice for price increases and be aware of impending delivery dates.

You’ll more easily manage master purchase agreements and blanket orders. You’ll have the opportunity to improve cash flow by collecting monies when due and making payments in the right amounts at the right times — not too much, not too soon or too late.

You’ll avoid penalties incurred through inadvertent noncompliance.

The potential savings are even greater than the sum of these benefits. Your increased ability to live up to your obligations and enforce your rights will decrease the risk of costly litigation.

You’ll even be able to easily review your past experience in order to structure more favorable agreements in the future.

THE BOTTOM LINE
With the bulk of business today conducted under negotiated agreements, effective contract management is essential. Fortunately, dedicated software packages are affordable, simple to implement, and easy to use.

The business case is compelling. The measurable benefits are clear. ROI is favorable, payback speedy. Young businesses should implement contract management software as an important part of building their infrastructure. More mature firms should take this step to reduce existing risks and enable them to proactively manage their negotiated agreements.

Judy Tucker works with emerging companies in planning, project management, and communications and helps them get the most out of contract management systems. Find out more about how contract management software can save time and money at www.contractassistant.com 877-509-7500.

One of the best decisions you can make if you’re originating mortgages is to invest in a quality set of magnetic car signs. Now…I know what you’re thinking…you’re not sure you’ll like the look. Well, if that’s true, you need to shop around a little bit and have a real professional, design and create your signs.

Before you click the “back” button or the big red “X” to close this subject for ever, let’s take a minute and review some of the advantages of using this type of advertising:

1. This is a non-reoccurring expense. Just make a single one-time purchase payment and the signs are yours. There’s no need to make a payment each and every month as would be required with a continuing classified ad in a newspaper or real estate magazine.

2. The signs are removable. Today, many homeowner, condo, and townhouse associations restrict and/or specify what types of vehicles and advertising is permitted in the complex. Since magnetic signs are easily removed…this solves the problem. It only takes seconds to add or remove your advertising from your vehicle.

3. Your signs can be attractive and eye-catching. Isn’t that the whole purpose of your advertising? You want to stand-out from the rest and have your message noticed. Here’s the key…spend some time planning the layout of your signs. Don’t leave it entirely to the sign company. You know the mortgage business and the message you want to convey. You need to be 100% pro-active in the design phase. Remember to request and then review a proof before your signs go into production.

4. Your signs are low maintenance and have a long life. Yes…just follow the instructions that come with your signs. Every sixty days or so, the signs need to be removed, cleaned with warm soapy water, and then air dried. My signs have lasted for years and are as good as the day they were purchased.

5. This is a great low-cost…low-budget…mortgage origination idea. We’re not talking about hundreds of dollars here. The last time I checked my local “Sign-A-Rama” franchise, the cost of a set of two (2) magnetic signs to include design layout and proof was about $80 plus tax.

6. Your signs generate an immediate response. You don’t have to wait for publication dates and delivery dates required with other forms of advertising. If you’ve got a good message…you’ll get calls immediately. Many times I have even received phone calls from people driving next to me wanting to know if they would qualify and seeking more information.

Now that’s what I call an immediate response! Believe me…the signs do work and they are well worth your investment. Most calls you receive will come in that evening, which is still a great response. Your signs will pay for themselves many times over. Go for it!

Hmmm…just think…with such a nominal cost…and, if your friends and family would help…you could have a whole fleet of cars running around town displaying your mortgage message and cell phone number. Not bad! Not bad at all!

Tom Domin is the author of “101 Ways to Originate Mortgages” and publisher of “Tom’s Mortgage Tips” a twice monthly Mortgage Newsletter geared for Mortgage Professionals. Increase your pipeline and put your mortgage career on the fast track and sign-up for FREE at http://www.MortgageMarketingToolKit.com