Free daily tips, information and advice for people in small business
from a lifetime of personal experience in business--been there, done that.
Events are a good way for a small business to get the word out, create some excitement, reach out to new customers, move some merchandise, get better known in the community, and more.
Events come in different sizes and shapes. Holding a sale is an event. Holding a grand opening (or an anniversary) is an event. Holding a special reception to honor someone in the community is an event. Partnering with an organization to hold a fundraiser is an event. Throwing open your place to a networking group is an event. Show a movie, bring in a band, partner with the local baker for cookies and cake. You get the idea.
Events attract attention. Do a write up ahead of time and send it to your local newspaper. Post it on your Facebook page and other social media. Send out announcements to your email list. Announce it with a poster in the window, with a banner across your street, with a magnetic sign on your delivery van--use your imagination.
Example: Frank runs a specialty shop. Here, it's all about fun on the water--sailing and boating, swimming and snorkeling. One summer he decided to host a party at the local lake--he set up a big tent, displayed sailboats, offered quickie sailing lessons and rides on the lake, partnered with a caterer, brought in a few vendors and musicians, and spread the word everywhere he could think of. This event cost Frank some bucks, but he saw sales at his shop double in the following months. His event had the effect of educating people in the joys of sailing, and they are buying sail boats and taking sailing lessons.
Events can be elaborate and costly, or they can be simple and cost little.
Example: Marie also runs a specialty shop. She offers one-of-a-kind, handmade items consigned by artists and artisans from far and near. It's a fairly large store--jewelry and blown glass, leather bags and paintings, turned wood bowls and silk scarves, women's clothing and children's games, and much more. The store attracts customers looking for unusual gifts, keepsakes and wearables. Marie wanted to attract attention at the Christmas season. She cleared everything out of the shop's big window, lined it with reflective foil, and installed a Christmas tree--upside down. The tree was fully decorated and hanging from above. On the floor, she scattered gift-wrapped boxes with fancy ribbons. People passing on the sidewalk stopped in their tracks--and came inside. The local paper sent a photographer, and a color picture of her shop's window appeared on the front page. This was an event that resulted in lots of free advertising, people talking, tweeting and emailing pics to their friends.
Events don't have to cost a lot to be effective. Put on your creative hat and come up with events to promote your business. You must be creative, or you wouldn't be in business.
I've spent a lifetime in business. These days, I've sold my last business and spend my time writing about business, plus a weekly business column, plus this free daily blog, and coaching an occasional business through rough times. I'll answer your questions at no charge--simply email me at AlWarr16@gmail.com and put BLOG in the subject line so I don't delete. Your privacy is always respected.
Monday, July 7, 2014
Friday, July 4, 2014
Deja vu
Free daily tips, information and advice for people in small business
from my lifetime of personal experience founding and operating small businesses.
What's old can be new again. It happens with every new generation when it discovers what went before.
Small business can take advantage of this phenomenon. A deja vu business can have the feel of an antique shop. But there is an important difference.
The market for deja vu clothing items is limited--but it is real. And buyers have the money to feed their interests.
Example: A local store is similar to a thrift shop, but It specializes in vintage clothing only. The place is packed with women's clothing and accessories from bygone eras. Dresses, hats, purses and jewelry from the decades of the 1920s onward fill the racks and display cases. Some men's clothing is offered--remember the leisure suit or the Nehru jacket? Customers come here on word of mouth--teens looking for a new look, high schoolers needing a certain look for plays and musicals, local theatrical companies, party goers planning unusual events. The owner of the place adds new stock from mom's closet or grandma's attic.
Example: Another local shop specializes in repairing and selling older appliances. Popular items are older American-made vacuum machines--these used strong metal components, not the flimsy plastic of today. Briskly selling items include reconditioned manual typewriters--youngsters buy these as gifts for grandma or as one-ups with their friends. And an antique mimeograph machine brought top dollar. The owner of this shop has turned his long experience in repairing appliances for owners into something quite different--he now buys the broken appliance, puts it back in tiptop condition, and offers it for sale at prices that will support the business. How about an antique waffle iron? Toaster? Maybe your interests run to pinball machines and juke boxes?
The deja vu market is alive and well. All sorts of possibilities exist. How about board games and jigsaw puzzles? Extinct electronics like tape recorders and 8-track players. I know a man who collects the tubes from old radios and televisions--and he sells them for handsome prices in the Japanese market. It's a small business, but it supports a family.
I've spent a lifetime in small businesses of my own and I've worked with thousands of people in small business--advising, coaching, helping them get to the next level. Free answers to your questions--email me at AlWarr16@gmail.com and put BLOG in the subject line so I don't delete. Your privacy is always respected.
Thursday, July 3, 2014
Up your game
Free daily tips, information and advice for people in small business
from personal experience--been there, done that--in a lifetime in business.
Big businesses are continually looking to up their game by exploiting new and emerging markets. When they identify a likely avenue, they go all out to make it their own.
Small businesses deserve no less. The idea is the same. Up your game by reaching out to a new breed of customer/client.
Example: Pet stores nowadays frequently offer fresh foods for dogs and cats. Big business long ago discovered this niche market and they offer local pet stores various pre-packaged meats. I know one pet store that has taken it a step beyond--they put the word out that no pre-packaged meats will be found in their store. Instead, they made local arrangements with local butchers for "fresh and local" and thereby tapped into the leading edge of a trend.
Upping your game doesn't necessarily mean an expensive re-work of your business strategy. Look instead for the leading edges of popular culture.
Example: Technological change offers a rich vein of possibilities to up your game. A machine shop I know specialized for many years making parts to spec for all types of customers. Recent advances in 3-D printing caused the owner to investigate and install one of these new printers. Now his shop can produce certain items more cheaply, making his shop more competitive in the marketplace.
The technology of 3-D printing is currently galloping ahead at a furious pace. It holds the promise of revolutionizing older manufacturing industries.
Example: Fresh foods, locally-grown, have recently become the rage. I know three dairies that have taken advantage of this. No longer do they sell milk to the big consolidators. One dairy converts all its milk production to artisan cheeses. Another produces yogurts and cheeses from all the milk produced. And the third sells whole raw milk--to area health food stores as well as at the dairy farm store (legal in Pennsylvania and other states, not so in New Jersey and elsewhere). The milk produced at these three dairies now commands a much higher price and a healthier bottom line than was previously realized.
No matter what your small business is, look around for the possibilities to up your game. Think through the social and technological changes occurring right in front of you. Changing with the times can make you more successful.
I've spent a lifetime in business--several of my own. And I've written all my life. I do this blog for the love of it. Questions? Email me at AlWarr16@gmail.com and put BLOG in the subject line so I don't delete. Your privacy is always respected.
from personal experience--been there, done that--in a lifetime in business.
Big businesses are continually looking to up their game by exploiting new and emerging markets. When they identify a likely avenue, they go all out to make it their own.
Small businesses deserve no less. The idea is the same. Up your game by reaching out to a new breed of customer/client.
Example: Pet stores nowadays frequently offer fresh foods for dogs and cats. Big business long ago discovered this niche market and they offer local pet stores various pre-packaged meats. I know one pet store that has taken it a step beyond--they put the word out that no pre-packaged meats will be found in their store. Instead, they made local arrangements with local butchers for "fresh and local" and thereby tapped into the leading edge of a trend.
Upping your game doesn't necessarily mean an expensive re-work of your business strategy. Look instead for the leading edges of popular culture.
Example: Technological change offers a rich vein of possibilities to up your game. A machine shop I know specialized for many years making parts to spec for all types of customers. Recent advances in 3-D printing caused the owner to investigate and install one of these new printers. Now his shop can produce certain items more cheaply, making his shop more competitive in the marketplace.
The technology of 3-D printing is currently galloping ahead at a furious pace. It holds the promise of revolutionizing older manufacturing industries.
Example: Fresh foods, locally-grown, have recently become the rage. I know three dairies that have taken advantage of this. No longer do they sell milk to the big consolidators. One dairy converts all its milk production to artisan cheeses. Another produces yogurts and cheeses from all the milk produced. And the third sells whole raw milk--to area health food stores as well as at the dairy farm store (legal in Pennsylvania and other states, not so in New Jersey and elsewhere). The milk produced at these three dairies now commands a much higher price and a healthier bottom line than was previously realized.
No matter what your small business is, look around for the possibilities to up your game. Think through the social and technological changes occurring right in front of you. Changing with the times can make you more successful.
I've spent a lifetime in business--several of my own. And I've written all my life. I do this blog for the love of it. Questions? Email me at AlWarr16@gmail.com and put BLOG in the subject line so I don't delete. Your privacy is always respected.
Wednesday, July 2, 2014
Branding
Free daily tips, information and advice for people in small business
from my lifetime of personal experience founding and operating businesses.
Branding means positioning your business in the community. And it happens with every business, large or small.
Branding is who you are and how you are perceived. Your customers/clients get to know you and they spread the word. This means you need to be fully aware of your reputation, because it is spreading in the community.
Small businesses create their brand--either consciously or unconsciously. Since branding happens whether or not you pay attention, it behooves you to focus on what's important to you. If it's important to you, it's likely to be important to others.
Build your brand on what you know.
Example: I know a small restaurant that brands itself as a "scratch" kitchen. What the owner means is that everything served in her place is made "from scratch." By working her magic in her kitchen, she has tapped into the public's growing reaction against fast foods, frozen foods, prepared foods and the like. As the word spreads in the community, her restaurant grows.
This lady recognized a growing social trend in the community she serves. That one word "scratch" conveys the focus of her branding. Branding helps separate her from the crowd. Other restaurants focus on "soul food" or "locally-grown foods" or foods specially prepared for vegetarians or vegans or allergy-sufferers.
Branding works across a full spectrum of businesses.
Example: I know a computer expert who runs his own one-man operation. He specializes in small business networks, set-ups, troubleshooting, clean-ups and clean-outs, and providing support to small businesses having up to 10 computers. Early on he branded himself as the "jack of all trades" in computers, focusing on that gap that frequently exists between business owners and the machines they've installed. He answers all questions in non-technical ways, trains employees, shows them how to better do their jobs, and develops close relationships. His focus has made him the "go-to" guy who solves problems, and clients enthusiastically refer others to him.
Careful branding cements your relationships with your clients/customers. Branding defines who you are, and just about everything you do will reflect this. And, most importantly, branding brings in referrals.
Questions? Email me at AlWarr16@gmail.com (put BLOG in the subject line) for quick answers that are FREE and private. After a lifetime in business, I have tons of experience with all sorts of problems--and a sympathetic ear. I'm not selling anything, and your privacy is always respected.
from my lifetime of personal experience founding and operating businesses.
Branding means positioning your business in the community. And it happens with every business, large or small.
Branding is who you are and how you are perceived. Your customers/clients get to know you and they spread the word. This means you need to be fully aware of your reputation, because it is spreading in the community.
Small businesses create their brand--either consciously or unconsciously. Since branding happens whether or not you pay attention, it behooves you to focus on what's important to you. If it's important to you, it's likely to be important to others.
Build your brand on what you know.
Example: I know a small restaurant that brands itself as a "scratch" kitchen. What the owner means is that everything served in her place is made "from scratch." By working her magic in her kitchen, she has tapped into the public's growing reaction against fast foods, frozen foods, prepared foods and the like. As the word spreads in the community, her restaurant grows.
This lady recognized a growing social trend in the community she serves. That one word "scratch" conveys the focus of her branding. Branding helps separate her from the crowd. Other restaurants focus on "soul food" or "locally-grown foods" or foods specially prepared for vegetarians or vegans or allergy-sufferers.
Branding works across a full spectrum of businesses.
Example: I know a computer expert who runs his own one-man operation. He specializes in small business networks, set-ups, troubleshooting, clean-ups and clean-outs, and providing support to small businesses having up to 10 computers. Early on he branded himself as the "jack of all trades" in computers, focusing on that gap that frequently exists between business owners and the machines they've installed. He answers all questions in non-technical ways, trains employees, shows them how to better do their jobs, and develops close relationships. His focus has made him the "go-to" guy who solves problems, and clients enthusiastically refer others to him.
Careful branding cements your relationships with your clients/customers. Branding defines who you are, and just about everything you do will reflect this. And, most importantly, branding brings in referrals.
Questions? Email me at AlWarr16@gmail.com (put BLOG in the subject line) for quick answers that are FREE and private. After a lifetime in business, I have tons of experience with all sorts of problems--and a sympathetic ear. I'm not selling anything, and your privacy is always respected.
Tuesday, July 1, 2014
Testimonials
Free daily tips, information and advice for people in small business
from a lifetime of personal experience founding and growing small businesses.
Testimonials are referrals that are blind. Nevertheless, they are valuable.
A referral occurs when Sue tells her friend Mary that Bill runs the best auto repair shop in town. The message is straightforward and between two women who know each other. Mary goes to Bill's shop on the word of Sue, thus confident that Bill will do a good job.
A testimonial occurs when Sue allows Bill to quote her good experience in his advertising. Bill might put Sue's words in a brochure or on his website page--Sue's testimonial lends credence to Bill's service and reputation. He might also put her testimonial in a social media setting.
Angie's List is built on the testimonial concept. People provide their experiences with a variety of businesses--electricians, plumbers, landscapers, carpenters, florists, and many more. It helps people who don't know you to come in on the word of someone else.
Your small business might or might not be part of Angie's List. But you can still ask your customers/clients for testimonials. When you do this, try to get their permission to use their name--full name is best, first name only is second best but valuable--and their city. When people read the testimonial, it helps them put a face on it.
Example: After repairing her brakes, Bill asked Sue for a testimonial. As she paid the bill, she wrote the following: "Bill's Auto Repair gets you in and gets you out--pronto. His technician fixed my brake problem while I waited and I was on my way." She signed it simply "Sue" and declined to name the town or use her last name. Bill has used her testimonial to good advantage ever since, including the "like" Sue placed on his Facebook page.
Testimonials can be powerful. They inspire confidence in potential customers/clients by bringing in the word of a disinterested third party.
Get testimonials whenever you can, and use them wherever it makes sense.
After a lifetime of founding and operating several small businesses, plus working directly with more than 2,000 small business owners, I am now retired. I'll happily answer your questions at no charge. Email me at AlWarr16@gmail.com and put BLOG in the subject line. Your privacy is always respected.
from a lifetime of personal experience founding and growing small businesses.
Testimonials are referrals that are blind. Nevertheless, they are valuable.
A referral occurs when Sue tells her friend Mary that Bill runs the best auto repair shop in town. The message is straightforward and between two women who know each other. Mary goes to Bill's shop on the word of Sue, thus confident that Bill will do a good job.
A testimonial occurs when Sue allows Bill to quote her good experience in his advertising. Bill might put Sue's words in a brochure or on his website page--Sue's testimonial lends credence to Bill's service and reputation. He might also put her testimonial in a social media setting.
Angie's List is built on the testimonial concept. People provide their experiences with a variety of businesses--electricians, plumbers, landscapers, carpenters, florists, and many more. It helps people who don't know you to come in on the word of someone else.
Your small business might or might not be part of Angie's List. But you can still ask your customers/clients for testimonials. When you do this, try to get their permission to use their name--full name is best, first name only is second best but valuable--and their city. When people read the testimonial, it helps them put a face on it.
Example: After repairing her brakes, Bill asked Sue for a testimonial. As she paid the bill, she wrote the following: "Bill's Auto Repair gets you in and gets you out--pronto. His technician fixed my brake problem while I waited and I was on my way." She signed it simply "Sue" and declined to name the town or use her last name. Bill has used her testimonial to good advantage ever since, including the "like" Sue placed on his Facebook page.
Testimonials can be powerful. They inspire confidence in potential customers/clients by bringing in the word of a disinterested third party.
Get testimonials whenever you can, and use them wherever it makes sense.
After a lifetime of founding and operating several small businesses, plus working directly with more than 2,000 small business owners, I am now retired. I'll happily answer your questions at no charge. Email me at AlWarr16@gmail.com and put BLOG in the subject line. Your privacy is always respected.
Monday, June 30, 2014
Gift certificates
Free daily tips, information and advice for people in small business
from a lifetime of personal experience founding and operating small businesses.
Gift certificates are a good way to promote your business. They can extend your reach into the community you serve.
Think of gift certificates as up-scale coupons.
Gift certificates take many forms. I've used gift certificates printed on post cards and mailed to existing customers. I've worked with business owners who had an artist create elaborate gift certificates to be handed out at shows and special events. Stock gift certificates--blank and ready to be filled in--are available at office supply stores and online, but they might not have the "feel" of specially created ones.
Example: I know a lady who runs a wellness center. She started out as a specialist in several types of massage. To expand the wellness center she created, she brought in other specialists--yoga, Reiki, hypnosis, nutrition, and others. She has used gift certificates for the massages she gives. This promotes the center and the other specialties. The certificates come pre-printed in $25, $50 and $100 denominations. Her clients buy these for themselves and to use as gifts to friends. It helps to bring in referrals.
Gift certificates can be for any amount and still be very effective. Depending on the circumstances, a $10 gift certificate can bring you a new customer as quickly as one in the amount of $100.
Example: An artist I know makes costume jewelry. She specializes in using unusual and inexpensive materials--no gold or silver here. What she is selling is her unique and creative ability to bring together everyday things in new ways. She regularly attends local shows and events, and she hands out $5 gift certificates to everyone who stops at her table. Her pins and earrings, bracelets and necklaces sell for prices beginning at $25. She gets a response much better than she would if she posted a 20% markdown. Some people use the gift certificate for themselves right away; others seek her out later or pass them on to friends. Again, the gift certificates bring in referrals.
My experience in my own operations as well as working with others has convinced me that the dollar amount is much superior to the percentage amount. Gift certificates with dollar amounts printed on them get much better attention--and better retention--than those printed with percentage amounts. Anything that's printed with "$10" has the feel of real money.
Example: Small businesses can show appreciation toward employees by giving them gift certificates. One 30-employee company I know hands out $10 gift certificates to employees at holiday time and a $50 certificate on the employee's birthday. The employee can choose from three different types of certificates--a local coffee shop, a craft beer house, or a supermarket.
In this case the gift certificate is a "thank you" to employees. But it is also a very important promotional tool for the three businesses where the gift certificates are used.
After a lifetime founding, operating and expanding small businesses of my own, I spend my time these days coaching and writing about small business. You get free answers from my experience to your questions about anything to do with small business. Email me at AlWarr16@gmail.com and put BLOG in the subject line so I don't delete. Your privacy is always respected.
from a lifetime of personal experience founding and operating small businesses.
Gift certificates are a good way to promote your business. They can extend your reach into the community you serve.
Think of gift certificates as up-scale coupons.
Gift certificates take many forms. I've used gift certificates printed on post cards and mailed to existing customers. I've worked with business owners who had an artist create elaborate gift certificates to be handed out at shows and special events. Stock gift certificates--blank and ready to be filled in--are available at office supply stores and online, but they might not have the "feel" of specially created ones.
Example: I know a lady who runs a wellness center. She started out as a specialist in several types of massage. To expand the wellness center she created, she brought in other specialists--yoga, Reiki, hypnosis, nutrition, and others. She has used gift certificates for the massages she gives. This promotes the center and the other specialties. The certificates come pre-printed in $25, $50 and $100 denominations. Her clients buy these for themselves and to use as gifts to friends. It helps to bring in referrals.
Gift certificates can be for any amount and still be very effective. Depending on the circumstances, a $10 gift certificate can bring you a new customer as quickly as one in the amount of $100.
Example: An artist I know makes costume jewelry. She specializes in using unusual and inexpensive materials--no gold or silver here. What she is selling is her unique and creative ability to bring together everyday things in new ways. She regularly attends local shows and events, and she hands out $5 gift certificates to everyone who stops at her table. Her pins and earrings, bracelets and necklaces sell for prices beginning at $25. She gets a response much better than she would if she posted a 20% markdown. Some people use the gift certificate for themselves right away; others seek her out later or pass them on to friends. Again, the gift certificates bring in referrals.
My experience in my own operations as well as working with others has convinced me that the dollar amount is much superior to the percentage amount. Gift certificates with dollar amounts printed on them get much better attention--and better retention--than those printed with percentage amounts. Anything that's printed with "$10" has the feel of real money.
Example: Small businesses can show appreciation toward employees by giving them gift certificates. One 30-employee company I know hands out $10 gift certificates to employees at holiday time and a $50 certificate on the employee's birthday. The employee can choose from three different types of certificates--a local coffee shop, a craft beer house, or a supermarket.
In this case the gift certificate is a "thank you" to employees. But it is also a very important promotional tool for the three businesses where the gift certificates are used.
After a lifetime founding, operating and expanding small businesses of my own, I spend my time these days coaching and writing about small business. You get free answers from my experience to your questions about anything to do with small business. Email me at AlWarr16@gmail.com and put BLOG in the subject line so I don't delete. Your privacy is always respected.
Friday, June 27, 2014
Cash business
Free daily tips, information and advice for people in small business
from personal experience founding, operating and growing several small businesses.
Some people like to run cash businesses--pocketing most of the money received. It is short-sighted and can be downright dangerous.
The IRS can get creative in going after people who pocket the cash received. Keep in mind that your own records can indicate that cash is being taken from the business.
A good example is the restaurant that regularly sends tablecloths out to a laundry--this can indicate just how many meals have been served, and, hence, an indication of what the bank account balance should be. Bakeries and other businesses can be hard-pressed to explain discrepancies between raw materials bought and goods sold. Think carefully about your own situation.
Example: Robert ran a one-man delivery service for a variety of clients. He picked up groceries from the supermarket and delivered to a customer who paid him in cash. He expanded to deliver auto parts to garages, restaurant meals to shut-ins, and had an arrangement with a couple of pizza shops. The payments and tips went into his pocket until the IRS caught up with him. Robert might have grown his delivery service into a bigger business, but he fell into the trap of spending all the cash.
Example: Bill ran a small printing business. Frequently, he was paid in cash, and he always deposited the cash into the business bank account. This practice kept the records in perfect order, and the paper trail was clean when the IRS came calling.
There are many legitimate ways to get funds out of a business. It is tempting to pocket the cash received from a customer. The more prudent reaction is to deposit the cash in the business account at the bank.
Still active after a lifetime in business--founding, operating, growing several. Nowadays, I provide free daily tips and advice to people in small business. If you have a question, email me AlWarr16@gmail.com and put BLOG in the subject line. I'm not selling anything, and you privacy is always respected.
from personal experience founding, operating and growing several small businesses.
Some people like to run cash businesses--pocketing most of the money received. It is short-sighted and can be downright dangerous.
The IRS can get creative in going after people who pocket the cash received. Keep in mind that your own records can indicate that cash is being taken from the business.
A good example is the restaurant that regularly sends tablecloths out to a laundry--this can indicate just how many meals have been served, and, hence, an indication of what the bank account balance should be. Bakeries and other businesses can be hard-pressed to explain discrepancies between raw materials bought and goods sold. Think carefully about your own situation.
Example: Robert ran a one-man delivery service for a variety of clients. He picked up groceries from the supermarket and delivered to a customer who paid him in cash. He expanded to deliver auto parts to garages, restaurant meals to shut-ins, and had an arrangement with a couple of pizza shops. The payments and tips went into his pocket until the IRS caught up with him. Robert might have grown his delivery service into a bigger business, but he fell into the trap of spending all the cash.
Example: Bill ran a small printing business. Frequently, he was paid in cash, and he always deposited the cash into the business bank account. This practice kept the records in perfect order, and the paper trail was clean when the IRS came calling.
There are many legitimate ways to get funds out of a business. It is tempting to pocket the cash received from a customer. The more prudent reaction is to deposit the cash in the business account at the bank.
Still active after a lifetime in business--founding, operating, growing several. Nowadays, I provide free daily tips and advice to people in small business. If you have a question, email me AlWarr16@gmail.com and put BLOG in the subject line. I'm not selling anything, and you privacy is always respected.
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