Free daily tips, information, advice and ideas
to help you better manage your small business.
Social media is a great tool for small business. Facebook and others can reach out into the community and put a friendly face on your business.
Pictures on Facebook attract attention, remind people who your are, and get passed around to others. It's a marketing tool not available just 20 years ago.
Example: Takisha has sites on eBay and Etsy. On both of these, she puts items up for auction or sale. The items come from her consignment store, an active bricks and mortar operation. To attract more attention, she has a Facebook page where she posts a picture every day of an item. Usually, Takisha's cat or dog can be seen, prominently included in the picture. All of this is meant to drive traffic to her store or to her sites on eBay and Etsy. She includes the cat or dog to help attract attention and get the picture passed around or mentioned to other viewers.
Example: Bud is a landscaper who is stepping his business up to a new level. On social media he shows yards he has done, gardens he takes care of , new designs he is planning. All of this entices new clients with pictures of stone terraces, fish and lily ponds, gates and trellises, and other landscape/garden features. He regularly posts pictures on Facebook and other social media. These have brought in new clients looking for more than lawn-cutting. Bud's business is growing and attracting new up-scale clients.
Example: Elaine is a business coach. She has attracted several small and medium-sized clients--some are regulars, others are one-time propositions. She noticed that business owners need funds to expand, but they were discouraged by the current downturn in availability of loans to small businesses. At the same time, Elaine noticed that on-line lending firms were springing up to fill the void left when banks declined loan requests. She used social media to reach out to area businesses, offering to help them access on-line funding. She posted pictures of stacks of coins with the edges of $100 bills peeping out from behind, along with the tag line "Need a loan?" Having researched a dozen on-line lending firms, Elaine used her expertise to guide her new clients through the maze, significantly growing her business coaching operation.
Social media can grow your business in ways unheard of several years ago. Put on your marketing hat and see what Facebook and others can do for you.
For example, if you have never used Facebook to promote your business, it's time to get your feet wet. Jump in, the water's fine.
Tuesday, August 18, 2015
Monday, August 17, 2015
Packaging your business
Free daily tips, information, advice and ideas
to help you better manage your small business.
Packaging is more than what you see on a bag or corn chips. Packaging is important in your small business--even if you don't sell corn chips.
Big companies spend lots of money on packaging. And it ain't just on bags and bottles and boxes. Companies also package themselves. They call it branding.
Owners of small businesses also need to brand or package themselves. You need to package your business in a way that's attractive, memorable, and sticks in the minds of customers and clients.
Example: Maria runs a catering operation. She has grown the operation over the years into a high end, upscale resource for the types of clients she targets. She uses social media--pictures on Facebook, for example--to separate her unique business from other caterers. Pictures show gloved servers dressed in chic, formal attire ready to take over and handle an event--all of the event, from soup to nuts. Other pictures zoom in on table settings with wine being poured. Still others are long shots showing tables with guests and couples dancing on a portable dance floor to the music of a live band. In short, all of Maria's social media pictures show an event, with people enjoying themselves at an upscale affair. All this has the effect of conveying enjoyment, not the food being served. This branding lifts Maria's catering operation out of the mundane, and it separates her from other caterers--where food is usually the total focus. It firmly implants in the viewer's mind how their affair can be taken to the next level.
Packaging or branding your business is being done whether or not you pay attention. Your business has a life of its own, a reputation that grows and spreads. You can let it grow on its own, or you can guide it.
Social media offers many opportunities to control and guide your branding. You are what people see--and talk about.
To take your business to the next level, always do a business plan. And that plan should include branding or packaging efforts--the reputation of the business as a whole.
to help you better manage your small business.
Packaging is more than what you see on a bag or corn chips. Packaging is important in your small business--even if you don't sell corn chips.
Big companies spend lots of money on packaging. And it ain't just on bags and bottles and boxes. Companies also package themselves. They call it branding.
Owners of small businesses also need to brand or package themselves. You need to package your business in a way that's attractive, memorable, and sticks in the minds of customers and clients.
Example: Maria runs a catering operation. She has grown the operation over the years into a high end, upscale resource for the types of clients she targets. She uses social media--pictures on Facebook, for example--to separate her unique business from other caterers. Pictures show gloved servers dressed in chic, formal attire ready to take over and handle an event--all of the event, from soup to nuts. Other pictures zoom in on table settings with wine being poured. Still others are long shots showing tables with guests and couples dancing on a portable dance floor to the music of a live band. In short, all of Maria's social media pictures show an event, with people enjoying themselves at an upscale affair. All this has the effect of conveying enjoyment, not the food being served. This branding lifts Maria's catering operation out of the mundane, and it separates her from other caterers--where food is usually the total focus. It firmly implants in the viewer's mind how their affair can be taken to the next level.
Packaging or branding your business is being done whether or not you pay attention. Your business has a life of its own, a reputation that grows and spreads. You can let it grow on its own, or you can guide it.
Social media offers many opportunities to control and guide your branding. You are what people see--and talk about.
To take your business to the next level, always do a business plan. And that plan should include branding or packaging efforts--the reputation of the business as a whole.
Friday, August 14, 2015
Money matters
Free daily tips, information, advice and ideas
to help you better manage your small business.
There is never enough money to do all the things you want to do in small business. Money--and cash flow--is always a problem.
When income is greater than expenses, you can point to a healthy bottom line. There's some money left over to grow, expand, buy a new piece of equipment, hire another employee--or take on repayments on a loan.
Sometimes, there is money to do all the things you want to do. But that is rare. Your dreams are bigger than your pocketbook allows. Or you want to grow faster than your bottom line supports--an infusion of additional cash can put you on the road to faster growth.
This is when you look to borrow the money you need. Sources like banks don't loan to small businesses like they once did. Credit cards are very expensive alternatives--be very careful using them. Borrowing from friends and relatives is not a good idea--unless you draw up an agreement with specific terms.
Enter the net. In recent years, several firms have popped up offering to do business loans. They make it easy and quick. But you pay for that in interest. Do a Google search for "Business loans" and check carefully the listings. You might find one that suits you--some specialize in loans only to small business, say $2,000 to $20,000. Others are looking to make larger loans.
Another Internet source is "Crowd funding" and it means just what it says. If you have a great idea or an appealing business model, you might attract a large crowd of people who are willing to invest in you and your business. Some of these are structured as loans; others involve equity, or part ownership, in your business. To check it out, Google "Crowd funding" and read through the sites you find.
Small, local businesses can also look for private investors locally. Say you run a landscaping business, a beauty salon, a health food store, an auto repair shop, a veterinary practice, or whatever. Among your customers and clients you might find one who is willing to invest in a local business rather than continue playing the stock market. You'll probably need an attorney to draw up an agreement, but this is very real possibility--one I have used myself.
The key here in any of this is your cash flow. If your bottom line shows that your business can support a monthly loan repayment, then a loan is possible. And if your business is healthy and growing, then it might attract a private investor.
Managing money in small business takes ingenuity, creativity, and a willingness to take risk. Taking a risk is not like rolling the dice. Taking a risk is seeing a path forward--with some degree of certainty.
to help you better manage your small business.
There is never enough money to do all the things you want to do in small business. Money--and cash flow--is always a problem.
When income is greater than expenses, you can point to a healthy bottom line. There's some money left over to grow, expand, buy a new piece of equipment, hire another employee--or take on repayments on a loan.
Sometimes, there is money to do all the things you want to do. But that is rare. Your dreams are bigger than your pocketbook allows. Or you want to grow faster than your bottom line supports--an infusion of additional cash can put you on the road to faster growth.
This is when you look to borrow the money you need. Sources like banks don't loan to small businesses like they once did. Credit cards are very expensive alternatives--be very careful using them. Borrowing from friends and relatives is not a good idea--unless you draw up an agreement with specific terms.
Enter the net. In recent years, several firms have popped up offering to do business loans. They make it easy and quick. But you pay for that in interest. Do a Google search for "Business loans" and check carefully the listings. You might find one that suits you--some specialize in loans only to small business, say $2,000 to $20,000. Others are looking to make larger loans.
Another Internet source is "Crowd funding" and it means just what it says. If you have a great idea or an appealing business model, you might attract a large crowd of people who are willing to invest in you and your business. Some of these are structured as loans; others involve equity, or part ownership, in your business. To check it out, Google "Crowd funding" and read through the sites you find.
Small, local businesses can also look for private investors locally. Say you run a landscaping business, a beauty salon, a health food store, an auto repair shop, a veterinary practice, or whatever. Among your customers and clients you might find one who is willing to invest in a local business rather than continue playing the stock market. You'll probably need an attorney to draw up an agreement, but this is very real possibility--one I have used myself.
The key here in any of this is your cash flow. If your bottom line shows that your business can support a monthly loan repayment, then a loan is possible. And if your business is healthy and growing, then it might attract a private investor.
Managing money in small business takes ingenuity, creativity, and a willingness to take risk. Taking a risk is not like rolling the dice. Taking a risk is seeing a path forward--with some degree of certainty.
Thursday, August 13, 2015
Print advertising
Free daily tips, information, advice and ideas
to help you better manage your small business.
Many experts have said that print advertising is dead. Nothing could be further from the truth. It is different today, but it is no less alive.
Print advertising is alive and well in specialty publications, local newspapers, and trade publications. Pick up any one of these and you'll be pleasantly surprised at the number of ads you see for small businesses.
If printed ads did not work for small businesses, then business owners would not be spending money on them. Nobody watches their expenditures more closely than owners of small businesses.
Example: Arleatha spent a year getting her yoga studio open and off the ground. She placed an ad in the local daily newspaper and waited for response. She found that she could not trace a single new client to the ad. Then she placed an inexpensive ad in a local weekly paper--the response was immediate. She then placed an ad in a regional monthly publication that promoted healthy living. Again, the response was gratifying.
The general public reads local weekly publications. They are less likely to read daily newspapers--the readership of The New York Times is down significantly. And the days of weekly news magazines are numbered--have you seen Time magazine lately?
Trade publications, on the other hand, are alive and well--even in this age of the net. The Pennsylvania Fireman, for example, is published monthly. Readership includes firefighters, regulators, construction people, the general public and more. The publication runs to some 200 pages, and it is filled with information and ads.
Every industry has trade publications. Targeted readers include dentists, chiropractors, foodies, healthy living, auto enthusiasts and collision experts, tradespeople of all types. These publications reach specific audiences, and readers are looking for small business suppliers of goods and services.
The reason the experts say print advertising is dead is simple. They are living their lives at the leading edge of technological change. They see everyone getting their news and information via their cell phones, smart phones and other fancy devices.
While the experts are mesmerized by the onslaught of technology, you can safely ignore their dire predictions. What they say is true for the big guys in business (large daily newspapers, slick monthly news magazines). But it does not apply to the circle of customers and clients who are attracted to small business.
Owners of small businesses have a limited budget for advertising. And a small amount of dollars can go a long way when spent with local weekly newspapers, regional monthlies, and trade publications.
The cost of advertising in small publications is related to readership and distribution. But the audience is more targeted, giving you a better return for your ad dollars.
to help you better manage your small business.
Many experts have said that print advertising is dead. Nothing could be further from the truth. It is different today, but it is no less alive.
Print advertising is alive and well in specialty publications, local newspapers, and trade publications. Pick up any one of these and you'll be pleasantly surprised at the number of ads you see for small businesses.
If printed ads did not work for small businesses, then business owners would not be spending money on them. Nobody watches their expenditures more closely than owners of small businesses.
Example: Arleatha spent a year getting her yoga studio open and off the ground. She placed an ad in the local daily newspaper and waited for response. She found that she could not trace a single new client to the ad. Then she placed an inexpensive ad in a local weekly paper--the response was immediate. She then placed an ad in a regional monthly publication that promoted healthy living. Again, the response was gratifying.
The general public reads local weekly publications. They are less likely to read daily newspapers--the readership of The New York Times is down significantly. And the days of weekly news magazines are numbered--have you seen Time magazine lately?
Trade publications, on the other hand, are alive and well--even in this age of the net. The Pennsylvania Fireman, for example, is published monthly. Readership includes firefighters, regulators, construction people, the general public and more. The publication runs to some 200 pages, and it is filled with information and ads.
Every industry has trade publications. Targeted readers include dentists, chiropractors, foodies, healthy living, auto enthusiasts and collision experts, tradespeople of all types. These publications reach specific audiences, and readers are looking for small business suppliers of goods and services.
The reason the experts say print advertising is dead is simple. They are living their lives at the leading edge of technological change. They see everyone getting their news and information via their cell phones, smart phones and other fancy devices.
While the experts are mesmerized by the onslaught of technology, you can safely ignore their dire predictions. What they say is true for the big guys in business (large daily newspapers, slick monthly news magazines). But it does not apply to the circle of customers and clients who are attracted to small business.
Owners of small businesses have a limited budget for advertising. And a small amount of dollars can go a long way when spent with local weekly newspapers, regional monthlies, and trade publications.
The cost of advertising in small publications is related to readership and distribution. But the audience is more targeted, giving you a better return for your ad dollars.
Wednesday, August 12, 2015
Customer service
Free daily tips, information, advice and ideas
to help you better manage your small business.
Customers and clients are arguably the most important aspect of your business. They buy your products, they sign up for your services, and they spread the word about your operation.
All this means that you must focus a great deal of your attention on them. Keep 'em happy and keep 'em satisfied, and they will make you a part of their lives.
Example: Donald operates a large cigar shop and mail order operation. Customers walk in, but Donald's main business is selling cigars to customers all over the country. He continually updates his website, offers specials, and ships for free on orders more than $100. The phone-in order desk is staffed by three people. When they get a complaint, they are authorized to offer free cigars, free shipping--whatever will satisfy the person complaining. To check up on the order desk people, Donald has mystery shoppers call in and place orders. They report back to Donald on how they were treated by people on the order desk. The purpose of all this is to maintain a high level of customer service. Donald has used the reports to increase training of order takers, and, in one case, replace the person with a more congenial person.
Example: Sandra runs a frozen yogurt shop. She concentrates on kids and offers all sorts of contests that appeal to the younger set. She uses social media to encourage youngsters to stop in, to partake in the contests, and to tell their friends about the latest yogurt flavors. Usually, everything is positive, but, occasionally, a bad comment sneaks onto Sandra's social media pages. She checks her site twice each day, and when she finds a less than complimentary entry, she goes into action. She responds by thanking the person and offering a free yogurt. The important thing here is that the other kids see how well Sandra treats everyone, regardless of their comments. It builds positive customer service.
Always listen to your customers and clients. And listen "between the lines" because you can learn a lot there. Listen to your clients and customers and they will show you the way forward.
Everyone wants to be treated well. Do this and you build familiarity with customers and clients. You want the relationship to be one of trust and loyalty to your brand, your shop, your operation.
In business, never get caught up in the blame game. It's easy to blame the customer or client. It's easy to blame the economy. It's easy to blame others for problems that are your own. Don't do it--your job is to find the way forward in spite of any problem that comes up.
to help you better manage your small business.
Customers and clients are arguably the most important aspect of your business. They buy your products, they sign up for your services, and they spread the word about your operation.
All this means that you must focus a great deal of your attention on them. Keep 'em happy and keep 'em satisfied, and they will make you a part of their lives.
Example: Donald operates a large cigar shop and mail order operation. Customers walk in, but Donald's main business is selling cigars to customers all over the country. He continually updates his website, offers specials, and ships for free on orders more than $100. The phone-in order desk is staffed by three people. When they get a complaint, they are authorized to offer free cigars, free shipping--whatever will satisfy the person complaining. To check up on the order desk people, Donald has mystery shoppers call in and place orders. They report back to Donald on how they were treated by people on the order desk. The purpose of all this is to maintain a high level of customer service. Donald has used the reports to increase training of order takers, and, in one case, replace the person with a more congenial person.
Example: Sandra runs a frozen yogurt shop. She concentrates on kids and offers all sorts of contests that appeal to the younger set. She uses social media to encourage youngsters to stop in, to partake in the contests, and to tell their friends about the latest yogurt flavors. Usually, everything is positive, but, occasionally, a bad comment sneaks onto Sandra's social media pages. She checks her site twice each day, and when she finds a less than complimentary entry, she goes into action. She responds by thanking the person and offering a free yogurt. The important thing here is that the other kids see how well Sandra treats everyone, regardless of their comments. It builds positive customer service.
Always listen to your customers and clients. And listen "between the lines" because you can learn a lot there. Listen to your clients and customers and they will show you the way forward.
Everyone wants to be treated well. Do this and you build familiarity with customers and clients. You want the relationship to be one of trust and loyalty to your brand, your shop, your operation.
In business, never get caught up in the blame game. It's easy to blame the customer or client. It's easy to blame the economy. It's easy to blame others for problems that are your own. Don't do it--your job is to find the way forward in spite of any problem that comes up.
Tuesday, August 11, 2015
Emergency plans
Free daily tips, information, advice and ideas
to help you better manage your small business.
Fires and floods, blackouts and robbers can shut you down--whether you have a shop or office or work on the web. When the unthinkable happens, put in place that plan you've already thought about.
Example: Frank runs a computer service business. His computers are tied into those of his clients, and many are large corporations. He can diagnose, troubleshoot, and repair their software problems from his set-up. His system automatically generates an invoice anytime his computers do work online for clients. Then the power went off. When he checked the power outage footprint with the power company, he learned that all his clients were without power as well. He reasoned that everybody would get power restored at the same time. But that was not the case. Several of his clients had back-up power systems that cut on when the power went off. Frank did not. He is now investigating how he can hard wire his system to those of his clients.
Example: Diane runs a small convenience store. After she was robbed twice, she decided that it was up to her to defend herself and her business. She bought a handgun, put herself through licensing and training, and now keeps the firearm handy. She has not shot anyone, but she did send a knife-wielding robber on his way when she pointed the firearm at him. In the past, she was terrified of guns, but today she has the means to protect herself while waiting for the police to arrive.
Example: Jill's gift shop was located near the river. In the middle of the holiday shopping season after Thanksgiving, the river flooded. Water flowed into Jill's shop, ruining everything it touched. She had flood insurance, but she did not have loss of business insurance. And she had to close the shop for two weeks while she was getting everything back in shape. When her lease came up for renewal the next year, Jill moved to higher ground.
Emergencies are not unusual in business. Power outages, flooding and storms can come with little warning. Robbers can show up anytime.
Be prepared by planning ahead.
In business, you are your own back-up. How will you manage your business if you break your leg? What will you do if there's a fire?
to help you better manage your small business.
Fires and floods, blackouts and robbers can shut you down--whether you have a shop or office or work on the web. When the unthinkable happens, put in place that plan you've already thought about.
Example: Frank runs a computer service business. His computers are tied into those of his clients, and many are large corporations. He can diagnose, troubleshoot, and repair their software problems from his set-up. His system automatically generates an invoice anytime his computers do work online for clients. Then the power went off. When he checked the power outage footprint with the power company, he learned that all his clients were without power as well. He reasoned that everybody would get power restored at the same time. But that was not the case. Several of his clients had back-up power systems that cut on when the power went off. Frank did not. He is now investigating how he can hard wire his system to those of his clients.
Example: Diane runs a small convenience store. After she was robbed twice, she decided that it was up to her to defend herself and her business. She bought a handgun, put herself through licensing and training, and now keeps the firearm handy. She has not shot anyone, but she did send a knife-wielding robber on his way when she pointed the firearm at him. In the past, she was terrified of guns, but today she has the means to protect herself while waiting for the police to arrive.
Example: Jill's gift shop was located near the river. In the middle of the holiday shopping season after Thanksgiving, the river flooded. Water flowed into Jill's shop, ruining everything it touched. She had flood insurance, but she did not have loss of business insurance. And she had to close the shop for two weeks while she was getting everything back in shape. When her lease came up for renewal the next year, Jill moved to higher ground.
Emergencies are not unusual in business. Power outages, flooding and storms can come with little warning. Robbers can show up anytime.
Be prepared by planning ahead.
In business, you are your own back-up. How will you manage your business if you break your leg? What will you do if there's a fire?
Monday, August 10, 2015
When referrals drop off
Free daily tips, information, advice and ideas
to help you better manage your small business.
Every small business owner knows the value of referrals. Referrals come to your business on another's recommendation.
When you notice a drop-off in the number of referrals you are getting, you need to take action. It's not something to ignore and simply hope for better economic times. It won't pass by itself.
Good business people do not blame other people or other situations for their problems. They go to work to solve their problems.
Example: Dean is a fitness expert and personal trainer. When he began his business, he got lots of referrals. His clients recommended others to his services, and he signed up new clients. Six months in, however, he noticed that referrals were few and far between. New people were not calling him or showing up. Looking at the situation, Dean realized that his clients had told everyone they knew about him and his programs. He had exhausted their circle of friends. To break out into new circles of people, Dean mounted a social media campaign. He solicited testimonials from his current clients, got their permission to use their words, and began posting on his new Facebook page. It paid off. New people called and became clients. More importantly, Dean broke into new circles of people interested in his services.
Example: Ellen runs a small coffee shop. She attracts local people to her breakfasts and lunches--no dinners. It took a couple of years to get established and become the go-to place for a local clientele. Ellen began to notice that it was the same crowd that showed up every day and that some of them seemed to be drifting away--they didn't come as often as they had done before. She looked at the staff, the cook, the service, and the cashier--and she found two problems. The cashier was so busy texting or talking on her phone that a line formed--waiting to pay the bill. And serving meals promptly was so lax that the meal was cold when delivered to customers. Ellen replaced the cashier and a waiter, neither one of whom understood the basics of customer service.
Using social media to reach out to more circles of friends can improve your business with more referrals. And seeing to customer service, and improving it, can do the same.
When referrals drop off, see to your operation. You'll more than likely find that the fault lies with you. Keep those referrals coming.
to help you better manage your small business.
Every small business owner knows the value of referrals. Referrals come to your business on another's recommendation.
When you notice a drop-off in the number of referrals you are getting, you need to take action. It's not something to ignore and simply hope for better economic times. It won't pass by itself.
Good business people do not blame other people or other situations for their problems. They go to work to solve their problems.
Example: Dean is a fitness expert and personal trainer. When he began his business, he got lots of referrals. His clients recommended others to his services, and he signed up new clients. Six months in, however, he noticed that referrals were few and far between. New people were not calling him or showing up. Looking at the situation, Dean realized that his clients had told everyone they knew about him and his programs. He had exhausted their circle of friends. To break out into new circles of people, Dean mounted a social media campaign. He solicited testimonials from his current clients, got their permission to use their words, and began posting on his new Facebook page. It paid off. New people called and became clients. More importantly, Dean broke into new circles of people interested in his services.
Example: Ellen runs a small coffee shop. She attracts local people to her breakfasts and lunches--no dinners. It took a couple of years to get established and become the go-to place for a local clientele. Ellen began to notice that it was the same crowd that showed up every day and that some of them seemed to be drifting away--they didn't come as often as they had done before. She looked at the staff, the cook, the service, and the cashier--and she found two problems. The cashier was so busy texting or talking on her phone that a line formed--waiting to pay the bill. And serving meals promptly was so lax that the meal was cold when delivered to customers. Ellen replaced the cashier and a waiter, neither one of whom understood the basics of customer service.
Using social media to reach out to more circles of friends can improve your business with more referrals. And seeing to customer service, and improving it, can do the same.
When referrals drop off, see to your operation. You'll more than likely find that the fault lies with you. Keep those referrals coming.
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