Showing posts with label small business. Show all posts
Showing posts with label small business. Show all posts

Monday, October 12, 2009

Three Tips for Effective Time Management for Professionals

Is time management one of your biggest challenges? You are certainly not alone if that is the case. Many small business owners and other professionals are always looking for ways to make better use of their time. If finding a way to implement strategies for effective time management is something that appeals to you, you may find the tips and ideas presented here to be beneficial. Keep in mind that not everyone has the same time management problems. Look for tips that can have a positive impact on your own personal time management challenges.

3 Time Management Tips for Professionals
1. Get Organized – If you are disorganized, you’ll end up spending a lot of time each day looking for things, which is a complete waste of your time. Instead of wasting time searching for items, set aside a chunk of time to get organized and include time in each week’s to-do list to spend time getting re-organized. When you get in the habit of doing this, everything in your office will be in it’s proper place so you won’t find yourself wasting time searching for items that aren’t where they should be.

2. Reduce Socializing at Work – If people tend to stop by your office regularly to socialize, and you find yourself getting embroiled in lengthy conversations that keep you from taking care of your work responsibilities, you have a time management challenge caused by too much socializing. Consider rearranging your workspace so that it’s difficult for people to camp out in your workspace for long periods of time. Try placing the visitor’s chairs in your office so they aren’t right by the entrance to your office, or place stacks of books or files in the chairs. You may also want to get into the habit of standing up when people enter your office. This can be a signal to them to keep the conversation short and sweet.

3. Plan Your Work Wisely – When coming up with a plan for getting your work completed, think about what times of day or days of the week seem to work best for certain tasks. If you experience a drop in energy during the afternoon, schedule tasks that you consider mundane – such as filing or updating your computerized contact directory – for that time of day. If you are at your most energetic during the morning hours, use that time to contact prospective clients and to work on those parts of your job that require maximum creativity and energy. If the phone seems to ring endlessly on Friday afternoons, make sure that you’ve taken care of all of your deadline work for the week before then.

Article taken from the Small Business Channel at American Banking News - October 11

Wednesday, August 19, 2009

Time to Reclaim Time (and the Confidence of Your Clients and Customers)

Flying by the seat of your pants is no way to run a business. Playing fast and loose robs you of flexibility. It creates havoc, and instills disorganization and unprofitability in your business. You might kid yourself into thinking your lack of structure is not evident from the outside, but I guarantee you, clients, colleagues and others you work with recognize it loud and clear via untimely follow-up, missed deadlines and poor communication.

The more intentioned and methodic you are with your processes, the more freedom, flexibility and organization you give yourself and your business. One of the very best ways to reclaim ownership of your time also uses one of the simplest tools available--your calendar! Following the steps below will help put you on the path to gaining control over your time and workload, and maintaining the confidence of those who choose to work with you.

1. Holidays, Vacations and Other Days Off. First, enter all holidays, known vacations and any other days you intend to be closed. If you take two or more days off for certain major holidays, be sure and mark those "closed" on your calendar as well. At the beginning of each month, schedule a reminder to give clients and others a courtesy notice of your planned days of unavailability.

2. Dedicated Days. Do you have a dedicated day of the week for something in particular? For example, Mondays are my administration days. I don't conduct any client business and am "closed" to them on that day each week. Some people like to take Fridays off in their business to attend networking or training functions or just have a plain old "mental space" day to keep their creative juices flowing. Whatever the case, be sure and enter those dedicated days on your calendar.

3. Regular Meetings & Tasks. Do you have regularly scheduled meetings or tasks you perform each week or month? Get those on the calendar. (TIP: Uninterrupted work time is necessary for critical thought and concentration; avoid taking calls or scheduling meetings during your main project schedule. You might consider devoting one day of the week or only certain hours of the day for meetings and phone calls).

4. Routines. What are your routines? Do you tend to use the first part of the morning for getting in gear, taking care of loose ends and checking emails? Then schedule it! For example, I block out every morning until 11am for just such purposes and never schedule meetings before then.

5. To Dos and Deadlines. Setting aside time on your calendar for errands and other to-dos will help get them accomplished. Likewise, if you have important deadlines you mustn't forget, enter those dates as notes. (TIP: Add the actual deadline date on your calendar, and set the auto-reminder to alert you several days or a week in advance to give yourself plenty of breathing room.)

6. Break and Lunches. Taking breaks and lunches is good for you and your business (no one is served by you being tired, hungry or stressed out). If you're one of those folks who has to be reminded to tear yourself away from your work to take care of yourself, add these to your calendar as well.

The time you are left with is your available project/work schedule. You can be as meticulous or free-flowing with this time as best fits your work style. If you have a mix of clients and odds and ends work of varying degrees of complexity, you might not feel the need to schedule every little thing, and instead prefer to just get things done one after the other during those open blocks of work time.

If you have a few larger projects that require a bit more planning and coordination, you might see fit to schedule dedicated hours for each project to better manage them. Either way, the system above will give you the structure and foundation in order to better manage your business and workload. You'll get more done, be more organized, and those who work with you will recognize (and appreciate) the huge difference it makes.

Author: Danielle Keister is a business advisor and innovator in the Virtual Assistance profession.

Wednesday, July 1, 2009

Identifying Your Target Market

Identifying your target market is the most important thing you can do for your business. You have to understand who your customers are and where to find them in order to be successful.

The first step in identifying your target market is to understand what your products/services have to offer to a group of people or businesses. To do this, identify your product or service's features and benefits. A feature is a characteristic of a product/service that automatically comes with it.

Here’s an example, if toothpaste has a stain-removing formula - that's a feature. The benefit to the customer, however, is whiter teeth.

While features are valuable and can certainly enhance your product, benefits motivate people to buy.

An example is anti-lock brakes; they are features on a car, but the benefit to the consumer is safety.

By knowing what your product/service has to offer and what will make customers buy, you can begin to identify common characteristics of your potential market.

For example, there are many different consumers who desire safety as a benefit when purchasing a car. Rather than targeting everyone in their promotional strategy, a car manufacturer may opt to target a specific group of consumers with similar characteristics, such as families with young children.

Now is the time to renew your customer database and determine who your target audience is. The next step is segmentation or breaking down that market so that you can very specific as to whom the solution is provided.

Parts taken from an article by the Edward Lowe Foundation.

Tuesday, June 16, 2009

A Day Without My Sunshine (My Blackberry)

I hear many successful business owners state that they will never get a blackberry or any other PDA, because they don't want to be THAT accessible ALL the time. While I get that, I think of my PDA as my friend that keeps me in the loop with just one glance. Since I manage other peoples' businesses/business operations, I have multiple email boxes including my own and just one look at my Blackberry keeps me in the loop with everyone.

Well today, was the day the Blackberry was not with me - well it was, but AT&T had inadvertently deactivated my SIM card and cannot transfer the data until I go into the store AGAIN *I was just there yesterday*. So I had an inactive PDA all day - very annoying.

BUT, I survived even though I felt like a piece of me was missing. This experience really helped me to practice what I preach regarding productivity - checking email at an appointed time and not all day, and batching. This happened by necessity and not by choice. But the experience taught me that I can, in fact, survive a day without my blackberry and leads me to think...

Blackberry and other PDAs....
Do they really assist with efficiency or are they just cool distractions?

Tuesday, June 9, 2009

Systems...

Over the past couple of weeks I have been getting lots of training on developing systems to get things done within a business. From a recent Online Business Managers Meeting, we discussed 10 Systems that will further help our clients achieve greater success.Of these, there were two that really stood out to me as truly areas for development for most business owners with whom I work.

1. Marketing system. May times businesses stop marketing when they have consistent clients - failing to build a pipeline for future growth and opportunities. This could include a consistent schedule for newsletter distribution, blogging, social media or regular contact with clients.

2. Phone calls and email management - Do you have general systems in place to deal with certain requests (i.e. if someone emails you or calls regarding pricing or information about a product or services)?

The benefits of systems is invaluable. It not only keeps the business owner consistent in dealing with clients and prospects, but it also allows him/her to delegate with a greater level of ease. Having systems even allows the business owner to be able to take vacations or deal with family emergencies knowing that standard operating procedures are in place. Now doesn't that sound like a process worth investing in?

Monday, May 18, 2009

What are Autoresponders and How Can They Help Your Business.

I have received inquiries from potential clients about Autoresponders and how they can expect this to be beneficial to their business. I've come across an article that really explains it and its benefits.

What is an Autoresponder? By Michael Cheney
Lots of people talk about autoresponders and how you can use them to grow your business online. But what actually is an autoresponder? Quite simply, it’s a piece of software that enables you to send emails to people automatically. This doesn’t mean that it writes the emails for you and it doesn’t involve spam or sending unsolicited email. What it means is that you set up a sequence of prewritten emails that are sent out to prospects on your database at regular intervals.

The importance of this cannot be underestimated. Time and time again internet marketing gurus tell you that the money is in the list. This is not by accident. The online marketing specialists know that this is fact. The more people you have on a mailing list that are interested in your products or services, the more sales you will make.

You can use an autoresponder to essentially send emails out to your prospect list, even when you’re not at a computer. What you do is you create, lets say, a seven part email course. Then you can set the intervals for the emails to, say, once a day and send them one part of the course each day. So you write the emails one time and then anyone joining that list will automatically be sent those emails for the next seven days.

This doesn’t matter if you’re online or if you’re away from the computer. They will get sent automatically. They also get added to the list automatically. And if they choose to unsubscribe, all of that is taken care of without you having to lift a finger.

The main benefit to using an autoresponder is connected to the fact that the majority of people need to be told about a product seven times before they buy it. So I want to ask you, how many times are you telling your visitors about your product? Chances are it’s less than seven.
They’ll land on your homepage or somewhere else on your website and they’ll look at your offering, but the majority of your sites visitors will disappear. So unless you can get them onto an opt-in mailing list, either a course or free information that is of multi-part format, the chances are you will have lost them forever. You can use an autoresponder to send these messages out to people with their permission convincing them and educating them about your product.

This is simply a form of permission marketing. People will give you their permission to receive emails in return for you giving them free, quality information. Do not load the messages with over-hyped sales pitches, but give them real quality information with a small mention about your product at the end.

What you’ll find is that people come to know you and grow to trust you over time as you send them more and more information. The longer you can maintain this relationship with them, the more likely they are to actually buy from you. The beauty of this is that using an autoresponder saves you the costs of printing, posting and packaging and enables you to contact and keep in touch with all your prospects around the clock without actually having to do anything.

Wednesday, May 6, 2009

Venting...Residual Income

Lately, I've been going to networking events, meeting great business people/entrepreneurs and I enjoy doing this. Unfortunately, there has been an aspect that has increasing began to get under my skin. That is, business persons who are trying to recruit others to sell their products/services so that they can gain residual income.

Now don't get my wrong - I am sure there are people out there looking for ways to generate additional streams of income, I'm just not one of them. And more importantly, can I take a moment to learn about your actual product/service and what it provides before I'm bombarded with invitations to sales meetings.

You see, selling your product is what YOU do, not what "I" do. I might want to use the product/service, but being pushy and trying to help me understand why I should take on an additional business is not very appealing to me. Actually it totally turns me off to the point where I don't even want to learn about your product/service anymore.

I'll have more substance with my next post, but I just had to get that out.

tj

Thursday, April 23, 2009

Business Card Tips

I ran across this great article about business cards and what to put on them. This search was prompted by a discussion over at the Virtual Assistant Forums about what title to put on your business card. Many struggle with this aspect of marketing - especially small business owners. Hopefully you will find this helpful.

Business Card Tips
Networking is an invaluable opportunity, and one that should not be wasted. In order to maximize networking, it is strongly suggested that all business professionals carry business cards. The business cards can be exchanged during introductions, both as a convenience and as a memory aid. In other words, business cards allow networkers to further the relationship through future contact.

Business cards may include one or more aspects of striking visual design, but should also contain important contact information. Use this guide to make the most of your business cards:

1. What to IncludeAll of this information should be included on a professional business card:
Name - This does not have to be your given name, but should be what you expect people in business to refer to you as.
Position - This is really optional; many small business owners find themselves wearing many hats, and may find it beneficial and/or less confusing to leave their official title off the cards.
Address - Physical office location and/or mailing address.
Website - Adding a website address to business cards is now very common and expected.
Email - Email is also now a very common and popular communication channel.
Phone - Include your business phone number.
Instant Messaging/ICQ Address - Internet chat address.

2. Double Sided CardsIf your company is global, or your sales territory focus is in a region where your spoken language is not the predominant language, you might wish to consider using the backside of your business card to include your information in an alternate language. You can also use the back of the card to provide more extensive information and details about your products and services. Or, if you do a lot of local business, you might want to include a small street map to your office on the back of your card. There are lots of things you might be able to do with all that blank space on the back of your cards.

3. Conversation Starters- Savvy sales people often use their business cards as a conversation starter. Of course, the card needs to be unique or unusual in order to generate a dialogue. Some of the more interesting cards I've seen recently were printed on micro-CDs, on magnets, on translucent plastic, etc.

4. Standard Size - Even if you are aiming for something unique, you should still not diverge from the "standard" business card size. For managing their contacts, many people will create a business card rolodex, or may have a hand scanner specifically sized for business cards. So stick with the standard size -- otherwise you may be excluded from their contact databases simply because your card didn't fit!

5. Order Quantity- Quantity discounts apply to business cards. When pricing printed business cards, check to see where the price breaks occur; sometimes you can significantly increase the quantity of business cards for very little additional cost.

6. Quality Matters - Flimsy cards that are paper thin, and cards with ragged perforated edges, just scream "amateur". If you are going to print cards yourself, be sure to use heavy business card stock, and use stock that has "clean-edge" micro-perforations. And "glossy" finished stock can also help boost the quality perception of self-printed cards, especially if lots of color is used in the card design.

7. Brand Cards - Your business cards should be similar to all of your other printed promotional material. Business cards should contain your business or product logo. Double-check the colors with the printer to make sure the correct pantone colors are used. This will ensure that the logo is printed using the correct and matching color scheme.

8. Keep CurrentInformation contained on the business card should always be kept current. Business cards with obsolete information crossed out are very unprofessional. If any information on the card changes or becomes obsolete, have new cards printed to reflect the change, and throw the old ones away.

9. Change It Up - Textured business cards, or cards with scalloped edges, stand out. Consider a wide variety of ways to make your card jump out of the pack. The texture or color of the card can also be utilized to ensure your card stands out.

10. Legible - Use a legible font that makes the text on the business card easy to read. Avoid making the fonts too small. Use contrasting colors, and avoid using porous paper that will allow the ink to bleed and the text to blend into the card.

11. Spelling - There is little more embarrassing than business cards that contain typographical errors. Proofread the cards multiple times. Let me say that again -- proofread your business cards! And have other people proofread them too, as they will often be able to spot mistakes that you've overlooked.

Maximize the power of your business cards. Whether you are networking, or just being personable, business cards are a must in the professional world, and crucial to business marketing.

Sunday, April 5, 2009

Updating Business Plan

This first year of business has been outstanding for administrative partners. We've gained a book of diverse and dynamic clients and have cultivated and grown many strategic partnerships. Now its time revamp... just a little bit. This year has helped us understand our strengths, passions and we will continue to provide the same types of services, but on an even deeper level.

So... I have to update my business plan ALREADY.

I say this to say that many times you don't know where your business is going to end up. You may start with one vision, only to find that you can achieve much greater success than you first imagined. Along the way it is important to update your business plan. When you start a new path or level of service - update your business plan.

Your business plan is your pathway to success. Not to say that you can't deviate from it at all, but its primary goal is to keep you focuses on growing your business.

As we update, in some areas re-write the business plan for administrative partners, looked forward to a more in-depth level of service for our exisiting clients and an more valuable position in taking care of our new target markets.

Friday, March 27, 2009

Trying to Decide What Email Marketing Service to Use?

This wonderful resource was shared with me by another virtual assistant.

With so many options out there, sometimes its hard to know which product would best meet the needs of your business. Attached is a link to an email marketing comparison chart. I found it helpful in just checking if I was using the right product for my business. I hope you will find it helpful as well.

http://email-marketing-service-review.toptenreviews.com/

Thursday, March 5, 2009

Who Has the Time for Social Media?

I know I know, its all the rage. Business owners are finding clients using it and its quite effective. But seriously, who has time to update status all day. I'm really struggling with the idea that its worth my time. I know that any marketing avenue takes time and consistency before you can see any real results. But is my target market really online in social media outlets? Is that where I'm going to find them.

No offense to those who think twitter/facebook/linked in are fun, but I'm looking for people who are looking to concentrate on spending their time servicing their clients not updating on what they are doing, reading, thinking all day.

Most of my frustration might be due to the fact that I personally don't have time to truly explore the wonderfulness of these marketing avenues. But I just felt like venting today..

BTW, check me out on facebook/linked in/ and twitter (virtualbizmger)

Wednesday, February 25, 2009

Who’s Your Target?

As administrative partners, llc moves into another year of business, it is time to rethink some of the effectiveness of certain areas of business. The most glaring detail at this time would be profiling and duplicating our best client. Identifying what makes him so great. Is it his concise and clear communication? Or the fact that he truly uses us as partners day-to-day and not just a task here and there meaning he really "gets" the whole partnership part of our mission statement. Whatever the reason, we love him and want all of our clients to grow up to be just like him. The dilemma lies in the clients that we've taken on but are far from fitting that ideal profile. While I'm happy to say I really sincerely like all of our clients, I can't say that all of their work styles fit within the ideal client/Virtual Business Manager situation for administrative partners, llc. The question then becomes – are they trainable? Do we even want to train them? Of course in the economy no one wants to lose a paying customer, but is it worth the time and frustration that comes with working with someone outside of our target. What does a small business do?

We've decided to truly profile our clients going forward. We want to work with small business owners, who want to help themselves; one who understand that there is a need to delegate tasks that take time away from the core service of providing for their clients. They need to understand and appreciate that they can't do it by themselves; nor should they try. They will focus on what they are good at – running their business. They will not micromanage. They will trust our ability to succeed. They will be clear about expectations and provide constructive feedback where applicable.

I'm looking forward to signing on many more ideal clients this coming year. With the new range of services we are planning to offer this year, these clients should not be hard to find.





Friday, January 30, 2009

Fostering and Effective Relationship with Your Virtual Assistant

Celine Rogue wrote an article that I totally agree with called The Art of Delegating Tasks to a Virtual Assistant. This article laid out good information on how to work with a virtual assistant for the most effective working relationship.

A few simple/basic tips that might come in handy are:

B.0Be specific about your expectations. This will save both you and your virtual assistant time. She/He will not have to try and decipher what you mean by your instructions and then go back and forth via email or other medium for clarification. Expectations should address the timeframe of completion or check in as well as any information necessary that you might have in order to complete the task in a timely manner.

Partner for Growth.You will see the best result of your relationship if you partner for growth – not just a task here or there, but trust assistant to actually work with you on the nuances of administrative issues that will help you become more effective

Give it time to work. With every new relationship there are often growing pains. Work with an assistant for at least a few months to work through some of the growing pains. Many of those issues may be due to a lack of effective communication, which can be tweaked over time. Make sure to check in every other week or so, to determine how the relationship can be improved over time.

Sign up with an administrative partner today. Watch your business soar.

Sunday, January 11, 2009

Strategic Partnerships Can Help Grow Your Business

One of my business goals this year is to form strategic partnerships with other small businesses. I believe that the overall experience has the potential to be a win-win in every case -- thats waht makes them strategic.

Lynne Meredith Schreiber recently wrote an interesting article about such partnerships on Startup Nation on this subject; particularly how to form a productive partnership. He admonished business owners to "do [their] research and identify a handful of good companies that might make great partners; have a clear understanding of goals, make sure the corporate culture matches yours, then meet to talk about it."

In working with a start up business owner recently on a potential partnership, I realized that we did not have the same goals. Although this did not stop the partnership and we continued negotiations to make it a win/win situation for both us, it is important that the goals of the individual business are at least understood and respected before forming a partnership. If this cannot be worked out, perhaps that is not the best partnership for either party.

Wednesday, December 31, 2008

Closing out 2008

It’s the last day of the year and my head is truly hurting recounting all the accounting, client tracking, project tracking and number crunching for 2008; combining that with all the goals and planning for 2009.

It all makes me remember that a business is much more than putting a sign on a door and charging for services; it’s about organization, planning, and growing in not only your customer base, but your offering and partnerships.

2009 is going to be a great year.

Thursday, October 9, 2008

Guide to Gracious Entrances and Exits

Revolving Doors
Who Goes First: First to arrive. Host leads the way for guests, pushing gently and meeting them at the other side.

Yield To: People with disabilities, elderly people, slow travelers, those with bulky packages, your host.

Other Considerations: Maintain the pace. Do not stop or suddenly change speed.

Elevators
Who Goes First: First arrivals. Guest enters before host. Host can leave first, holding the door for guest while providing directions.

Yield To: People with disabilities, people getting off.

Other Considerations: Hold the door or door button for people who are entering, exiting or on their way to the elevator. Make room for those who are entering or exiting. Don’t crowd. Don’t push. Don’t gossip. Greet those you recognize. Announce your floor before arriving there.

Stairs and Escalators

Who Goes First: The host. Otherwise, first arrivals.

Yield To: People with disabilities, people in a hurry.

Other considerations: Don’t rush people on stairs – instead go around them.

Doors

Who Goes First: Whoever gets there first.

Yield To: People with disabilities, someone whose hands are full.

Other Considerations: Hold door for the person behind you. If someone holds the door for you, say “Thank you.”

Taken from Complete Business Etiquette Handbook - Chapter 5

Tuesday, September 30, 2008

Top Graduate Programs for Entrepreneurs

As business owners it is important that we constantly continue our entrepreneurial education; whether it is via workshops and seminars or formally returning to university programs. An interesting article in October’s Entrepreneur magazine highlights the Top 25 Graduate Programs.

Graduate Programs

1. Babson College, Babson Park Massachusetts

2. DePaul University, Chicago

3. University of Southern California, Los Angeles

4. The University of Arizona, Tuscon

5. University of South Florida, Tampa

6. University of Illinois, Chicago

7. University of California, Los Angeles, Los Angeles

8. Drexel University, Philadelphia

9. Chapman University, Orange, CA

10. University of North Carolina, Chapel Hill, Chapel Hill, NC

11. Temple University, Philadelphia

12. Loyola Marymount University, Los Angeles

13. University of Wisconsin, Madison, WI

14. Northwestern University, Evanston, IL

15. Monterey Institute of International Studies, Monterey, CA

16. Rice University, Houston

17. Tulane University, New Orleans

18. Syracuse University, Syracuse

19. University of Chicago, Chicago

20. University of Virginia, Charlottesville

21. University of Louisville, Louisville, KY

22. Simmons College, Boston

23. University of Oregon, Eugene, OR

24. Rollins College, Winter Park, FL

25. City University of New York, Baruch College, New York City

Sunday, September 14, 2008

Building Confidence in Selling Yourself and Your Products/Services

Confidence to exceed in business cannot be faked. Therefore, it is important to build a core level of confidence so that even in times of nervousness or uncertainty, you will not be moved.

1. Continuous preparation and action assure unshakable confidence.

Everything thing that you do contributes to how people view you and your business. Do you follow up after meetings and sales? Do you stop and think during the day “What is the most productive use of my time right now?” Do you pour your heart and your mind into everything that you do?


We build confidence by planting seed for future opportunities and not by being complacent or unproductive. Once we stop and coast along, our skills decay. Success breeds success; that because we come to a point in our actions where our enthusiasm is the culmination of all the hard work that went before.

2. You must solidly believe in who you are and the value of what you are selling.

Do not second guess yourself and what you believe in; improve who you are rather than try and be like someone else. Are you operating from your core belief system and taking the actions your gut tells you to take. Most people don’t realize how powerful they become when they don’t have to think through their actions.


We become unsure when we don’t prepare enough, read enough study enough or work hard enough. Our confidence comes from knowing we have put the work in and prepared for success.

So here’s to success in business.

Taken from Entrepreneur magazine Sept 2008 – Solid to the Core by Barry Farber

Sunday, September 7, 2008

Marketing in a Slow Market

As many small businesses find ways to trim the fat, many are mistakenly putting less budget and energy towards marketing. Instead of cutting marketing, revamping your marketing strategy would be a wise move. There are four vital steps that a business owner must take in order to endure these times.

  1. Assess Your Customer's Behavior. Just as you are making adjustments to your business, no doubt your customers are as well. You need to figure out how these tighter budgets and perceptions of the importance of your offering and services affect the business that they conduct with you. Small business owners will need to adapt what and how we sell so as to meet the customer's needs as they emerge.
  2. Measure ROI. All advertising designed for branding or image awareness is not appropriate in this economy. Are your campaigns specifically designed to drive customers to use your services? Each step in the marketing chain must lead to a measureable response and ultimately a sale of your product or service. Always ask your customers how they heard about you.
  3. Market to Current Customers. Consumers, including your customers, are being a bit more careful about how they spend their money and look for companies that they know and trust. Remember it is more costly to find new customers than to maintain the ones that you have. Regularly reach out to customers through use of some sort of customer relationship management too. Vary your tactics, but stay top of mind without wearing out your welcome.
  4. Emphasize price promotions versus price cuts. As consumers are looking for ways to save money, they are more inclined to use coupons. This is a strong indicator of the trend towards price-specific promotion. Avoid full-scale price cutting, after all you still need to service as a business owner yourself. Short terms promotions will stimulate sales from current customers and draw in new ones.

Sunday, July 13, 2008

Starting a Business?

As many of us begin in business, we contemplate what we need to do NOW to get up and running; thinking we will worry about the other things later. In most cases, these basic THREE pieces are of great importance to providing a clean professional look for your business.

  1. A logo: This brands you as an actual company. When you name is not attached, it should still be clear what type of company you have. Is this true of your logo? Perhaps it is time for a redesign.

  2. A Business card: Since we all know how important networking is, a business card is key for these types of social gatherings. These new contacts, must be able to get in contact with you regarding either a direct connection with you or someone that you know. This business card must also have your logo on it so that the marketing strategy of "branding your business" is further manifested.
  3. A website: Who would have thought years ago that web presence would be so important to commerce in general – not just e-commerce? If you do not have a website, you can best believe potential clients will question the legitimacy of your business. Obviously a website has many benefits.
    1. It is available 24 hours/7 days a week (times when you aren't)
    2. Has the potential to provide general information about your business.
    3. Increased your chances of branding your business.


Many of these aspects of starting a business may take some time to develop, but ultimately they will make a huge difference in how progressive and profitable your business becomes.