Optimists trust that the future will be mostly good – they also believe their decisions, choices and actions shape their destinies. There is evidence to suggest that optimists tend to have better coping mechanisms and tend to be less negatively impacted but life’s little ups and downs. They recover faster, tend to eat right and exercise, are less likely to smoke, suffer less from aches and pains and are at a much lower risk for dementia and other diseases.

But what if you’re not a natural born optimist? Studies seem to indicate that optimism is only slightly influenced by genetics – 20% at best. In fact your experiences, the language you use to describe them and the meanings that you have attributed to them shape your world and your future outlook. Every single one of us can learn to become optimistic. However optimism is not achieved by making a decision one day to be optimistic – it takes more than attempting to change your feelings or outlook consciously.

Particularly in this time of economic uncertainty, faith and optimism are powerful belief structures. Arguably however, both are habits and need to be developed and nurtured over time. In fact 99% of what we do is pure habit – the domain of the subconscious.

Positive thinking alone is inherently undependable. Sustained optimism requires more than The Secret, The Law of Attraction and a few positive affirmations. Optimism is not something you are born with – it is a learned behaviour/habit. The same is true of pessimism. When the going gets tough, affirmations fly out the door and the subconscious habits will kick back in and cause all of us to sabotage our own success. In actual fact, each of us is our own worst enemy.

At the end of the day, it is not what happens to you that matters. It is about who you are and what you become because of (not despite) what happens. Change your perspective today…change your life forever!

Your executive summary can make or break your business plan

While only 2 pages in length, the executive summary is by far the most  important component of your business plan or proposal. It is designed to  summarize the key elements, capture attention and most importantly, showcase the  financial highlights.

So, if you only have 2 pages to convey a significant amount of information  and summarize the financial upside, how do you decide what to put in and what to  leave out? Which financial features are critical to emphasize?

Depending on the purpose of your document and the intended audience  (investment, sale, partnership, strategic alliance, joint venture etc.), you  will want to tailor your financial disclosure to suit their needs and  expectations. What would they want/need to see in order to make an informed  decision?

At a minimum, you need to clearly state what financial input is required from  them and what they will get in return – i.e. a share, debt instrument, license,  exclusive right etc. Next, highlight the expected net profit and cash flow over  2-3 years. Also, give a clear indication of return on investment (ROI) AND a  realistic, well defined exit strategy.

In an executive summary, it is important to be succinct and focused. It is  not the time to tell your life story, overpromise with unrealistic projections  or overwhelm with too much detail. You will only get one chance to make a good  first impression and capture the attention of the reader. In fact, many  sophisticated investors have told me they rarely read a business plan or  proposal in its entirety. They make their decision on the strength of the  executive summary and their assessment of the owner/manager (in terms of  character, knowledge, skills and tenacity).

Focus on “what’s in it for them”. Show them clearly how they can benefit and  when the result will be crystallized. Give them enough detail to understand the  industry, opportunity and unique solution you provide. And most importantly,  clearly summarize the key financial metrics of profitability, cash flow and  ROI.

In short, make it EASY for them to invest in YOU.

Article Source: http://EzineArticles.com/6107414

Can you apply Warren Buffet’s best advice to your small business?

Discipline and attention to details is more important than ever if you want to succeed in challenging economic times. Take a look around… competitors are closing their doors – which means more potential customers for the businesses that DO survive. And in times like these, it’s going to take more than “thinking outside the box” and goodwill with existing customers to secure the survival of your business.

You may have been lucky over the past few years – you may have found it possible to operate without a detailed, written plan and systems/processes. But the global economic crisis has changed all of that. If you want to thrive, there is only one thing that is for sure – uncertain times call for deliberate decisions and proven practices. So here are my top tactics to recession-proof your business.

1. Begin with the end in mind

If you don’t know exactly where you are going, how will you know when you get there? Now is the second best time to decide on your strategy, set your goals and document tactics and timelines. Keep it simple – write a 2-3 page summary of what you intend to accomplish in 3 months, 6 months and 12 months.

2. Focus on cash flow not profit

You cannot buy a house or a new car with “profit” from your business. Make it your mission this year to develop and maintain a weekly/monthly cash flow forecast for your business. This is not hard to do but it does require discipline and a simple excel spreadsheet. If you need help, I recommend that you consider signing up for Imagineering Profit. With just a few numbers from your Balance Sheet and Profit and Loss statement, Imagineering Profit can calculate your cashflow for you and give you the insight that you need to get your company operating in the black!

3. Collect your debt NOW!

How many days does it take to collect your debts on average? Whatever it is, make it your goals to reduce this by at least 10 days. You may be surprised to know that if your annual revenue is around $500,000, you could save yourself up to $2,500 in interest carrying charges simply by collecting your debts 10 days quicker on average. Pay attention to customers who are taking longer than usual to pay. Now is not the time to be extending too much credit if you are concerned about their ability to pay.

4. Rank your customers

Do you know who your best and worse customers are? Have you ever tried to calculate how much profit you are making from each customer or group of customers? If you don’t know the answers to these questions, today is the best time to start tracking and measuring this.

5. Fire your worst customers

Everyone knows that is cheaper and easier to garner incremental business from existing customers. Some even argue that it is 6 times cheaper and 75% easier to convert a sale from someone who already knows and trusts you. If you have unprofitable customers, get rid of them and focus your attention on your best customers.

6. Trim your product range

Contrary to popular belief, it is better to have money in your back pocket than tied up in stock sitting on your shelves for months on end. The longer it sits and does not turn over, the more it actually costs you in lost opportunities. Spend 2 hours today calculating which of your SKUs or stock lines are your worst performers; make it a priority to sell those quickly to release some much needed cash. Consider reducing your overall investment in stock. Compile a spreadsheet of all the SKUs you carry and then run two separate columns – one for how many units you sell on average of each per month and the other being the total units on hand. If your stock gets delivered quickly, you should never be carrying more than one month’s worth of sales at any given time.

7. Monitor your breakeven and key numbers

The most important day of the month is the day that you break even and start making a profit. If you don’t know which day of the month that is, you need to find out today. Knowing this number allows you to monitor your performance and take measures to correct issues right now. Waiting until the end of the year for your accountant to produce financial statements is not a good idea – if you are behind, you need to know now so that you can correct the situation.

Click on video to learn what the golden rule is and avoid falling into the fatal trap of breaking it!

Each and every one of you made 1 fatal error today in your marketing message.  Now that 1 thing might have slipped through or gone unnoticed because it wasn’t an obvious thing – like a spelling error, using a word incorrectly or not having a compelling call to action.  In fact that 1 thing – the fatal error that you made today – wasn’t anything you said at all.

That’s why no one brought it to your attention… until now.

But you know deep down (or at least you probably suspect) that something happened because a large percentage of your audience, who saw your message today, didn’t get it and they didn’t purchase your product or service.

Let’s take a look at the science of neuromarketing to find out why – so that you can take action now and turn your message into one that your leads and customers are dying to say “Yes” to.

You may not know this but your brain sees and interprets images first and makes decisions quickly based on what it sees.  And after all of this activity has occurred, much later it pays attention to and tries to process what it hears and the words and numbers you have read.

Somewhere between 80-90% of your brain activity (and what is going on in the minds of your prospects) is a result of trying to make sense of visual stimuli.  The optic nerve is physically connected to your old brain (which you already know is the decision making part of your brain) and it processes visual cues 40 times faster than auditory ones.

What happens is your retina captures images and sends that data on 2 distinct paths – one goes up to neo cortex (the thinking part of your brain) and the other goes straight to the reptilian brain.  Here’s the interesting part – this second pathway, to the decision making part of your brain is much faster.  In fact, it is about 500 times faster.  If it takes 1-2 milliseconds for the old brain to process a visual cue, it could take your neo cortex at least 500 milliseconds.  This makes that part of your brain that decides dangerously fast and hasty.

Since you and I cannot rely for our survival on the speed at which the new brain processes information, we are hard wired to make decisions at the old brain level – and as you can SEE, those decisions are primarily based on visual input.  And your new brain will only kick in much later to help you find data to support your gut reaction (the decision your old brain already made). Your eyes control your brain – and this is also true for your customers.  That’s how important visual cues are to your survival and to your sales and marketing messages.

Let’s take a look at a very good example of what not to do.  I saw this sign of the front window of a veterinary clinic in my neighbourhood this week.  In big orange letters, it took up almost 70% of the front window.

“Pet Laser Treatment.”

Now, if you were a potential customer driving by, would that sign mean anything to the part of your brain that decides? No, of course not.

The average person driving by would have no idea what pet laser means or WHY it would be a good reason to choose that clinic over the next one down the street.  To your reptilian brain, that sign means nothing.

If you are a pet owner – what do you care about?  What’s important to you in the context of finding a good vet?  If you are like most pet owners, you want to know that when you take your animal in for surgery the pain is minimized, the surgery is safe and the healing happens quickly.  If you owned a pet those things would be important to you, wouldn’t they?

Yes, now surprisingly pet laser does achieve all of those outcomes – less pain, less risk and quicker recovery – but that sign didn’t help you to know and decide, did it?  As you are driving by, that vet has 2-3 seconds to grab your attention and convey his message…and you now know that the best way to do that would be a picture, not a bunch of words, right?  What he needed to do was show you a photo of a dog or cat, fit and healthy – with a message like, “we guarantee less risk and a faster recovery for your pet, ask us how?” Or “want Fido’s next surgery to be virtually pain-free, ask us how?”

Now you may not be a veterinarian yourself but I am sure you can see exactly how this applies to your business.  How visual are your sales and marketing assets? Take a look at the very last email, brochure or presentation that you made.  Was it loaded up with words and stuff that only means something to you?  Did you even have any pictures and did they serve a purpose or were they just there to fill space?

Each and every day I see business owners just like you making this fatal mistake.  The part of your prospect’s brain that decides is a visual beast.  It’s relying on pictures to make a decision and you are trying to convey everything with words and numbers, aren’t you?  Your audience can’t tell you exactly why your message is not appealing to them…but I just did.

Your customer’s brain sees images first and words second. In order to get your audience to pay attention and remember your message, you need to quickly deliver a clear picture to the old brain. This is the golden rule of marketing and Sales Seduction – a picture is worth a thousand words.  And if you continue to break this golden rule, you will fail to close sales and help customers who really need your product or service.