Now Let's Discuss The Income Side

Without Sales Income, All You’ve Done Is Spend Money, And Anyone Can Do That.

So that we are clear in what I am going to define for you, let me say that there are two forms of Income.

We shall be dealing with Sales Income, in this article, which in our case will consist of large amounts of money being received as a developer in exchange for property units we have created.

The other form of income in a feasibility study, is Rental Income and will be addressed at another time when I write an E-book on Commercial Development.

Sales Income

Because of make up of our feasibility study sheet, there will be no deductions from out Gross Sales Income, because we have allowed for those costs on Cost Side of our feasibility study.

Items such as sales commissions for sales agents and various marketing costs have already been allowed for previously.

Now I have seen some formats of feasibility study, which deducts marketing costs from Gross Sales Income to produce a Net Sales Income.

It achieves nothing – "all costs are costs" and they should be put on cost side of feasibility study, which is what I do and have always done.

When Can You Get Your Hands On The Sales Income.

Getting sales income into your account is very important, yet many people never ask question as to what procedure is “exactly” in their neck of woods.

Get to your Conveyance Expert and have them give you a schedule of events “with an estimate of time for each stage.”

This information is important in preparing your cash flow feasibility study format, as it results in reducing your interest cost.

So by knowing this information at beginning of a development investigation, you are adding a little bit of “certainty” to early stages of your feasibility study.

Let me give you an example:

At end of construction phase builder moves off site, there are a whole range of things that have to occur, any or all of which can delay, settlement taking place and so delay you getting Sales Income.

Some of these things are:

•Architect’s inspection of entire project.

•Architect preparing a Defects List.

•Builder calling back subcontractors to correct defects.

•Architect’s final inspection.

•Architect issues Completion Certificate

•Surveyor (engineers in some countries) does final measurement of individual residential accommodation units and compares to Unit Plan that is included in Sales Contract.

•Preparation of Final Unit Plan (as used by conveyance office) for settlement.

•Lodgment of Unit Plan with Titles Office.

Customer support should be a high priority for any business, whether you are starting up or already established. At MBP Advertising, our motto is "Our business IS our Customers."

Daily, we strive to show our customers that their concerns, comments and their time is very valuable to us. By making customer support a high priority, it gives customer a sense of trust in our company and they know that they can come to us with any question and we will answer it and usually pretty quickly.

You need to make sure your customers receive same quick and efficient support. How you handle customer support can and will make or break a company. Too many companies now, concentrate on front-end sale, but very rarely work at keeping that customer after sale has been established. If you have a website that focuses on "free" products or services, these customers should be treated same as if they were "paying" customers.

If you treat all customers, whether paid or free, same and with respect, you will find these customers will be there for years to come. It is these customers, that will help you establish your company and they will refer others to you and continue to purchase or use your services.

Without customers, where would your business be? Each and every customer support issue, you need to address promptly, honestly and in a professional manner.

How can you handle customer support issues?

There are quite a few tools, software or programs that will assist you with dealing with customer support. The most favorite now is Help desk system. Many companies are integrating these support systems into their websites.

Help Desk Ticket System

This is one of more popular customer service systems being used now. With a help desk system, your customer can log a support ticket, they can track ticket and receive response they need. With most ticket systems, they also include a knowledge database, this is a place where you can put most frequent asked questions. By providing this, your customers may browse database and may very well find answer to their question, before having to log a support ticket.

All tickets put in by a customer are logged and saved in database. This is very beneficial, because you and customer can track what was previously said, what issues were and just by saving it, it is a place where your customers can reference later.

A help desk system will also help you analyze your customer support promptness but also it allows customer to rate service they received. This is very valuable information and will show you if your customers are happy with support responses and time it took to receive answers to their questions.