Tag: Small Business

 
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Should EBooks be Part of Your Internet Marketing Strategy

Ebooks seem to have become a stable on the Internet. They’re given away, they’re sold and they’re used as promotion material. Isn’t time you considered whether ebooks should be part of your marketing strategy?

Ebooks have become and inseparable part of the new frontier of cyberspace. They are a great medium for sharing marketing information, ideas, techniques, and expert knowledge. Each day the number of people accessing the Internet grows, causing the exposure of your ebooks to increase incrementally. It’s obvious why electronic self-publishing has become so popular so quickly.

Ebooks can assist small business website owners market their sites and in some cases even become a source of revenue. Having said that, let’s look at what makes ebooks so important and so unique.

“Ebooks have unique characteristics that printed books can’t match. For example, ebooks are relatively easy to produce and they can be inexpensive to produce. Just think about it: you don’t need a publisher, an agent, a printing press, offset film, ink, paper, or even a distributor. You just need a great concept, the ability to write it or to hire a writer, and the right software.

“Ebooks can be easily updated. As information changes, ebooks can be updated without a second print run. All you need is to go into your original creation and modify the text or graphics. Because of this flexibility, ebooks can change and grow as fast as you can type.

“Ebooks are convenient. You don’t have to go to a bookstore or search through endless titles at an online bookstore. All you have to do is download it from a website, and presto! It’s on your computer, ready to be read.

“Ebooks are interactive. This is one of the most unique and specific qualities that ebooks offer. You can add surveys that need to be filled out, order forms for customers to purchase your products or goods, sound and video that draw your reader into the virtual world of your ebook, even direct links to relevant sites that will expand your ebook outward. The potential is virtually limitless.

“Ebooks have a particular kind of permanence that other mediums do not possess. Television shows and radio shows air once, and then may rerun a few times. Ebooks remain on your computer for as long as your choose, and they can be read and reread whenever you choose to. They can even be printed out and stored on the shelves of your traditional home library.

“Ebooks have very low entrance barriers. You don’t need to go through the endless process of submitting your manuscript over and over again, and then once you land an agent, having the agent submit your manuscript over and over again. Nor do you have to shell out thousands of dollars for printing a self-published book. All ebooks require is a writer and appropriate software.

“Ebooks are great for Niche content. Ever wanted to find a book on a highly specific or niche product? Looking for tips on mouse killing? Good luck finding that in print. The costs are prohibitive and bookstores can’t afford the shelf space. But with an ebook, no shelf space is needed so even the most niche content can find a place on the Internet.

“You have creative control over your ebook. You don’t have to compromise with an editor or the publishing trends of the time. You don’t have to haggle with a designer or wait for copyedited galleys to arrive by snail mail. You are in complete control of the design and the text.

If you’re not convinced that ebooks are something you should consider click over to Google and search for ebooks. At last count there were over 70 million search results. Something with that kind of Internet presence is not something you want to miss.

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You Can Have A Successful Small Business

Owning and maintaining a very successful small business can have its challenges but if you know what you are doing, everything can really work out great for you. There are many helpful tips that you should learn, if you are the owner of a small business and then by learning about these tips you should have the ability to have a very secure and profitable future. Knowing how to operate a small business properly will give you and your employees much relief in knowing that their positions are stable and secured. Your employees will be much happier, as will you, if you do all of the right things and play your cards right. In this article I am hoping to teach you a little bit more about managing a small business so that you will be a success. Having a small business definitely has its own advantages and some of those will be included throughout this article.

It is very important for you to learn more about what it takes to run a small business successfully so that if you or someone you know becomes interested in opening your own small business, you will be much more knowledgeable about all aspects of it. Another great thing about owning your own small business is that usually this means you will for sure have many more awesome customers that will tell others about it and continue coming back themselves. You will have a reputation for owning and managing a very reputable, friendly and affordable, yet small business. A small business would typically go over very well because there will be enough customers to continue keeping you with plenty of customers and when people are on vacation in your area, they too have probably already heard about your small business and many of them will choose to come into your small business and will be quite pleased by the friendly employees and the great prices. Check out the other small businesses in your area to see what it is they are doing to draw in more new customers, do not copy them but definitely kind of take a few little suggestions and ideas from watching others with more experience.

Advertising is something that most businesses do, which you as a small business owner will as well at some point in time, however, even without the professional advertising, your small business will still be successful due to all of your loyal customers that absolutely adore coming into your wonderful store. All it takes to have a very successful small business is friendliness, determination, customers that count on you and a good knowledge about business management will always make for a better chance at success. A small business could typically go over very successfully, as long as you first do some homework over managing your own business, as well as talking with other small business owners because the more experienced people could really provide you with a great deal of helpful information and some tips that can almost guarantee your small businesses success and longevity.

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How to Effectively Brand Your Small Business

Branding a small business is a must if you want to succeed in a competitive world. The importance of branding a business disregarding its size is based on not only real benefits, products and services that your business possesses, but also an image concept that all businesses should keep in mind.

From color business cards to global business identity, depending on how effectively you brand your business, the more or the less opportunities of success will knock at your door. The reason why large companies brand their businesses is because they know this is the best way to differentiate their products and services from their competitors while creating a corporate image.

Many small business owners believe it is not necessary to development a corporate image, particularly those whose business integrate just a few individuals as staff, or even when they own a one-man business, using the internet for selling or promoting their professional services. However, even a small business should utilize the same principles as the large enterprises to brand their business.

Furthermore, if your business has business cards, stationary and other branded elements along with a matching website, you will not only create a corporate image, but also loyal relationships with your customers and prospective customers, who will find more reliability with a small business with these characteristics, than others without a professional look and feel.

Because you only have the opportunity to impress new customers once, you should make sure that this impression is a positive and lasting introduction and handshake, only possible if you brand your business conveniently and professionally. There is no need to spend thousand of dollar to achieve it, but do not go to the other extreme using uneven elements.

Small businesses should be aware of the elements that will make their brand unique and recognizable, including consistency between online and printed elements, such as your logo, signage, business cards and even a slogan that helps people understand at a glance your business’s mission statement.

Effective branding must achieve these goals; be consistent and never differing, carrying the same logo, colors, slogans and statements through to every element of your business, all of them always visible and unique, hence the need to avoid elements that anyone can find anywhere such as free or cheap clipart.

Creating your brand, whatever your budget requires a business plan to have a solid appreciation on whom your customers will be and what can you do to serve them. This is not only a matter of elegant stationary or catchy business cards; it is the most important deployment of a small business for an eventual growth in future terms.

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Best Advertising For Small Business

The best advertising, whether for a small business or large, is advertising that works. The price a small business owner pays for advertising would not be an issue if the outcome of the ad was known.

If a small business owner had a choice of paying $1000 a month for advertising that brought in a guarantee of at least $2000 a month profit, or paying $500 a month for advertising that brought in $750 worth of profit a month, there would be no hesitation. That savvy small business owner would gladly shell out $1000 each month for the advertising.

Small business advertising has no such guarantees however. Itís not like buying a refrigerator that is guaranteed to keep the milk and eggs cold. $1000 of advertising might bring $8000 of profit, or it might bring in zero. So, whatís a small business owner to do, especially if faced with a limited budget?

The best answer is to use small business advertising that only charges the owner when and if it works. There are several ways of doing this.

The primary method is called pay per click. This Internet option is available with numerous online merchant sites as well as hundreds of newspapers across the country and the globe. Simply put, a small business agrees to pay a specified amount to the publisher, or the merchant site, for each ad that entices a consumer to come to the small business site. The price paid is generally an amount that the small business owner has bid on. More and more newspapers are offering this option as they struggle to maintain competitive online with eBay, Craigslist and other pure play classified and marketplace sites.

Another option for pay per click and inexpensive advertising for a small business that wants to concentrate on local customers is with regional publications or some of the larger metropolitan newspapers and groups that are introducing citizen media sites. These zoned products offer a much less expensive buy because the small business advertiser is buying the local neighborhood instead of the total metropolitan circulation of the metropolitan paper.

Companies such as YourHub, a product of the Denver Post and Rocky Mountain News, are licensing these citizen media sites to other newspapers in other areas and those welcome small business advertising and discount the price. They also encourage citizen journalism. The small business owner can contribute articles, photos and local stories, although the paper will undoubtedly edit something too unabashedly self-serving. This is still a great way for a local entrepreneur to introduce himself or herself to the neighbors in a friendly, casual and soft sell way.

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Advertising: Relationships vs Business Decisions

Successful businesses know the importance of building and maintaining good working relationships, whether it is with partners, employees, business or trade organizations, the government, media representatives, vendors, consumers, or the community at large. A business must carefully balance the benefits of these interpersonal relationships and should never allow these relationships to blind their judgment especially when it relates to what is in the best interest of the business’s continued success and growth

Buying advertising media based on interpersonal relationships is a common mistake made by many small businesses. This strategy throws the business’s strategic marketing plan into the winds of chance in exchange for the warm and fuzzy feelings that come with doing business among friends. However, when the smoke clears the business has made costly advertising expenditures with little or no results and the long term negative effects may not readily be seen. Simply, the marketing / advertising expenditures have been made, the budget may or may not be busted, and the results may be none to little measurable penetration into the business’s target demographic market segment.

Is buying media from a friend in the business always bad? No, however in order to choose the most effective media channels a business must first consider the audience or customer it is trying to reach. Developing a strong sense of the target demographics’ buying and shopping patterns, interests and hobbies, entertainment and media choices for example will lend itself a tremendous benefit to making informed media buying choices. Once the advertising business has developed a strong sense of what media channels may prove to be the most effective it should try each a little at a time carefully tracking the results of each. Once this is complete the business will be able to make an educated decision on where to invest its marketing dollars, prioritizing expenditures into the mediums that have proven results for the business.

It is true that strong interpersonal relationships skills and the ability to develop and maintain good working relationships with a variety of people, businesses, and other organizations are imperative in today’s business environments. However, the importance of a well designed and implemented strategic marketing plan can not be understated and is paramount to the business’s development and longevity never taking second seat to friendship.

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Cash Flow Planning for Solo Professionals

You’ve heard it a million times ñ cash flow can make or break a business. Lack of cash flow planning is the reason why many businesses fail. In fact, many PROFITABLE businesses fail because of cash flow issues. Without adequate cash flow, you can’t pay your bills and you can’t make plans for your business.

SoÖ what is cash flow planning? Cash flow planning is projecting your future cash inflows from sales, services, and loans, and comparing them to your future cash flow needs (suppliers, salaries/wages, loan payments, taxes, etc.). The difference between the two is your net cash flow.

Why is cash flow planning so important? Cash flow planning can help you identify problems down the road, and fix them before they occur. Cash flow planning can also help you make decisions such as should I attend that conference I’ve wanted to attend, should I buy the new computer I’ve been wanting, or do I need to work extra hard this month to avoid a cash flow deficiency next month?

The first step in planning your cash flow is knowing where you spend your money! Solo entrepreneurs need to have a good grip on both their personal and business spending, as most solo entrepreneurs rely on their business income to meet personal finance goals (i.e., pay the bills!). So, you should track both your personal and your business spending, although I recommend that you keep them separate (that’s a topic all by itself).

What’s the best way to track your spending? You can use pen & paper, spreadsheets or a software program. The best method for you is the method that you will actually use on a regular basis.

You should project your spending for at least the next 12 months so that you include annual and other periodic expenses. If you are experiencing a cash flow crisis, you should track & project your cash flow on a weekly basis, instead of monthly.

If you are an existing business, you can project your cash flow for the next year by reviewing your expenses for last year. If you are a new business, you will need to estimate your start up costs in addition to regular operating expenses.

Start up costs include inventory, legal expenses, advertising, licenses & permits, supplies, and many more costs that you may not have thought of. To research startup costs you should contact your local Small Business Development Center, contact a SCORE counselor, join groups of similar business owners, and read as many books or articles you can find on the subject.

To improve your cash flow, you should:

1. Complete the first 3 steps. You have to understand cash flow planning, track your cash flow, and project your future spending needs before you can improve your cash flow.

2. Create best and worst case scenarios and create appropriate responses to both scenarios. For example, if your best case scenario is to increase sales by 50%, how will you use the profits? Will you put the profits back into the company by investing in new equipment, training, etc.? If your worst case scenario is a drop in sales by 50%, how will you continue to cover your monthly expenses? By planning for the best and worst case scenarios, you’ll be ready for any situation.

3. When estimating your future income, realize that some people will pay late, and account for that fact in your projection.

4. Charge what you’re worth. Many businesses, especially service professionals, under-charge when they are first starting out. This is a great way to go out of business. Make sure you are charging what you’re worth, and remember you’re in business to make money, not to give your expertise away for free.

5. Watch your business spending. Focus on the value the item brings to your business, and avoid lavish spending (i.e., do you really need the fastest, newest computer available?).

6. Don’t hire until necessary. Consider using virtual assistants or temporary employees before hiring permanent employees.

7. Give incentives for early payment for products and services. On the flip side, chase down invoices the minute they’re late. Charge interest or late fees to encourage timely payments.

8. Update your cash flow regularly. Your cash flow plan will change frequently as your business grows. You may want to update your cash flow plan weekly when you first get started, then switch to monthly once you’ve got a good handle on your cash flow.

Remember – whether you are a new or growing business, your cash flow projection can make the difference between success and failure.

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Blend Your Strengths with Small Business Needs

If you are looking to start a small business of your own, there is a proven process that is necessary to start off with. Many creative people have great business ideas, but their approach to planning is ineffective and eventually flops. First and foremost, you have to find a market that is a good size. Now what does this mean exactly? Finding a niche market that is a reasonable size entails pinpointing one that is big enough to make a profit but small enough for the resources of a small business and one that does not compete with large corporations.

Two main mistakes that entrepreneurs make in finding small markets are targeting a market that is too broad and targeting a niche that is already heavily exploited. What you decide to sell must connect product to target audience or you will not be successful.

To start off with, choose your own unique area of expertise. What are you good at? What do you have experience in? Use your education, your skills and the people you know who could help you transform your idea into reality. If you have many areas of interest and are not sure which one would be the most profitable, a little more research will be needed. Consider how it will be possible to convert your education and skills into money-making opportunities. Research your surrounding marketplace to see what is needed in your area.

Now if you are trying to find small markets online, be forewarned that this can be tedious and time-consuming. You will first have to think of a list of possible target audiences, then take your first idea and research an exhaustive list of keywords and keyword phrases that people in that target audience are using for information on their desired product. Next, one must research all keywords and phrases for relevancy and then study which keywords on your list might lead to other niches that will need future researching. Then, you need to compare all your keywords to web pages to evaluate the present competition. You will use all your information to narrow down your list to keywords and phrases that have the most online traffic and those that are the least exploited. If your small market does not appear to be profitable, you must start the entire research process over. If you do find one that seems to be a money maker, you then must focus on finding ideas to profit from.

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Can Your Small Business Afford Not to Have a Web Site?

I’ve been accused of being opinionated by more than one person in my life, but try as I might to work on that part of my personality, it remains pretty much the same. So, in this article, I’m going to discuss my ìopinionî on one reason why, even if your target market is strictly local, your small business can’t afford not to have a web site.

A few statistics from Statistics Canada to start us on our way-. In 2003, there were about 12 million households in Canada, and of those 8 million had regular access to the internet from work, home and/or school. Around 60% of the total households had a computer and internet access at home.

Ok, so now we know how many households had access to the internet, but what were they using it for? Almost 90% used the internet for browsing, but more importantly for our discussion- 34% used the internet for purchasing goods and services, and by the way, that’s almost double 1999 figures for purchasing goods and services on the internet.

Industry Canada reports that in 2000, Canadian ecommerce sales were $7.2 billion, a whopping 73% increase over 1999 numbers. And no, it’s not a typo, it really is $7.2 BILLION! I’d say there’s a pattern brewingóinternet usage and sales are increasing rapidly.

And, according to Industry Canada, Canada captured only about 4% of global e-commerce in 2000. Now, numbers may not be my strong suit, so feel free to correct me if I’m wrong, but doesn’t that mean there was 180 billion dollars spent globally in ecommerce?

Let’s look for a moment to the United States. www.tamingthebeast.net reports statistics and forecasts collected during December 2001ó157million online users forecast to spend $47.8 billion in online retail revenue in 2002. By 2006, the forecast is 210 million users spending $130 billion in retail revenue.

The numbers alone will probably convince many people to invest in a small business web site, particularly if they’re in an industry where their target market isn’t restricted to a purely local one.

But, you say, my business is just a little local shop. Why should I get a web site for my small business? What good will the internet do me? I’ve heard that one before. In fact, the guy I’ve heard it from most is David.

He’s the guy with the auto shop in my article ìI Don’t Need a Business PlanóDo I?î Long story short, his mother in law finally convinced him to write a business plan and his business is making some money, but in my opinion, it could do better with some marketing. I’d really like to convince him to spend some marketing dollars (he’s a little cheap sometimes), but so far, no dice. Anyway I digress.

Let’s use David’s business as an example. So, his business is in Saskatoon, a city with a population of just over 200,000 over five years of age and almost 90,000 households in 2001, according to Statistics Canada. Nearly every household has at least one vehicle in Saskatoon, so that means there are around 90,000 potential vehicle problems for David’s shop.

Of course, not every vehicle is going to break down in a year, and David isn’t going to get all of them to use his shop, but you get the idea. And mind you, some of them will break down more than once. A certain 1988 Jeep YJ comes to mindÖ

In Saskatoon, 72.5% of households had access to the internet in 2003, so around 65,000 households had internet access. And that’s not including the rural population surrounding Saskatoon who also have vehicles that need a mechanic from time to time. Now, let’s say David goes marketing-crazy and spends $2500 for his web site (which in my opinion is way too much money for a static small business web site).

But it does no good to have a web site if it isn’t found. Statistically, when people enter a word or phrase into a search engine, they’ll stop looking after the third page. That means, that in order for your web site to be positioned so people will actually click on it, it needs to be in the top 30 web sites for your particular key words or phrases.

So, lets assume that the $2500 David spent includes some good search engine optimization. His web site copywriter makes sure to research and find relevant keywords, and uses them well in his site.

She adds his site to small business directories, and does more of her seo magic, and low and behold, three months in, David’s site comes up #2 in a Google search for ìauto repair Saskatoonî. Now there are a potential 65,000 clients for David’s business because they’ll find it in a search engine.

If he only reaches .1% of those 65,000 (not 1%, but point 1%), he could have 65 new clients, and you know your bill is going to be more than 100 bucks every time you take your car to the shop, but assuming just $100 for an average bill, he’ll gross $6500, making that $2500 web site money well spent. I’d be willing to bet he’d make that much on maintenance alone, never mind repairs.

Now that I think about it, I’ve never approached David about a web site from this angle. I think I might show him this article. He’s a logical sort of guy, and it just might convince him to get one.

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5 Simple Steps to Small Business Success on the Internet!

For years, the website design market used to fall into three separate entities for website design and development: (i) graphics and animation studios, specializing in custom graphic design and creative animations, (ii) website marketing/promotion firms, (iii) Web programming companies specializing in database-driven website development. Nowadays, however, you get to see a fusion of these three entities in several dynamic Web Development and Promotion companies operating from any part of the globe. These web design, development and web promotion firms are virtually allrounders that cater to a diverse range of clientele, include those coming up for creative web design, web databases CRM / ERP as well as for SEO (search engine optimization) needs.

Most small business firms all over the world heavily rely on the services of such web development firms as they usually cater to small business website design by providing web based marketing methods that small companies can afford due to small budgets. Depending on the effectiveness of such web-based marketing, clients often see incredible successful results from clicks to conversion. There are some case studies which show that utilizing their marketing equation; some sites have gone from 10 leads a month to 300 leads. However, to achieve this is easier said than done. Web marketing firms that create a full plan for their clients using both the strategic and tactical methods crafted by specialists/consultants in turn are able to give small or large businesses increased sales. After all, that is the reason one can zero down on in order to be in a business, right? To have more sales and offer value. Therefore, the objective behind any web development or website promotion project is to create a unique selling proposition through your website that can set you apart from your competition so your customers should only think of doing business with you, regardless of price.

Small business firms today look forward to the professional creative website design and strategic web development and web promotion companies for the simple reason that they want their site to have the look and usability of a Fortune 500 company site without having to spend huge bucks for it. Yes, it is definitely considered a plus if the website is designed as a tactical marketing tool that aims to engage and educate their clients in turn. And most of these businesses have a concern in their minds: can their web site provide a means to gather analytical data for them to offer better service for all?

Yes, definitely they can. However, for this, optimal, effective website design strategies need to be incorporated. In a word, small business clients should be enriched with at least some of these features in order to fetch more conversions:
* Cutting-edge small business website design, tailor-made to provide broad market exposure of the products and services to potential clients.
* Highly scalable digital website designs, aimed at boosting up the growth and realization of the full perspective of the small business houses.
* Small business website design strategies including full-featured e-commerce solutions, to help these businesses deploy cost-effective, powerful e-commerce stores.
* Customized search engine optimization services, based upon individual needs and goals.

However, there are umpteen so-called ‘cheap, quick’ solution-providers, and any small business firm must think twice before taking the plunge with them. Ideally, one should always trust a professional web development firm that gathers relevant information about their clients’ business through hours of discussion, clear up ideas about the requirement, nature and goal of the clients’ business. Based on these details, experienced, skilled web designers and developers carry out extensive research to find out the best small business website solution. On the other hand, creative, innovative content writers create specific and unique content for small business website requirements, thereby enhancing business prospects. Finally, website maintenance and search engine optimization techniques that comprise scientifically proven techniques available at a competitive price are sure to give your business a boost. Flash Presentation, Multimedia Presentation, Multi-lingual website development and E-Commerce integration solutions complement these customized website solutions for brightening the online and even the offline image of small business firms.

The Five Steps to Success:

To ensure success of your small business through a unique website presentation, it is important that you develop a five-step process for creating websites that meet your customer’s goals. Whether it is a small business firm eager to generate leads, sell online, provide information about their services, connect their vendors to their company electronically, or start an entirely new kind of service, this five-step process not only takes them from concept to completion, but also is the trademark of any Internet development company. Consulting: Every website starts with an idea. Perhaps you’ve been thinking about developing a website, or redesigning your existing site. At the consulting stage, a professional website development firm would strive to clear all doubts about the clients’ requirements. Consultation for this usually comes free in case of small to medium-sized businesses.

Website Design: After the initial consultation, the website development firm solidifies the clients’ ideas by creating a blueprint for their site by employing something they call “Strategic Design”.

Website Development: The website development project is then handled by a creator’ hive, composed of specialists who handle their own respective pieces of the site development. Remember, for successful website development, it is necessary to be handled by a versatile team of expert graphic artists, content writers, programmers, database specialists and technical personnel. This ensures that a qualified professional handles each task of the given project.

Web Hosting: Since websites are an intricate interplay of graphics, text, programming and computer resources, building your site on a rock-solid web hosting foundation is critical to its marketing success.

Website Maintenance: Once the site is available to the public, it must be maintained with the help of ongoing updates and continued development to the site so that they don’t give clients/visitors of the site a chance to complain about its quality and content.

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