Month: October 2012

Categories
Starting Up

Targeting Small Business Success

Achieving success for a small business lies in setting goals that are compatible with both the general implications of running a small business and the context of the particular small business concerned. But generally speaking, there are a number of things small business owners who wish to be successful must bear in mind as well.

Even small businesses need adequate management as well

Several small business owners make the mistake of thinking that all they need to start a successful business is a sufficient amount of technical know-how. Such business owners therefore tend to overlook the importance of acquiring formal training or experience in management practices and principles, or alternatively hiring a professional who is well versed in such areas. Hence, due to the highly erroneous notion that only large businesses require a substantial level of investment in management, many businesses have failed as a result of inadequate management.

The ability to adapt is equally important

Small businesses, more than large ones, can easily be lifted and swept aside by the tide of change and evolution. At the same time however, they can in fact have an edge over large businesses if they take advantage of their relatively smaller networks and less complex structures, and learn to adapt. After all, it is easier to effect monumental change in a smaller structure than in a larger one. Moreover, the owner or manager of a small business must learn to evolve back and forth from a technical expert to a tactical planner; and from a manger of things to a manager of people.

Preparation maps out the road to success; persistence takes you there

Benjamin Franklin once said that “by failing to prepare, you are preparing to fail”. It is very important for managers of small businesses to ensure that adequate preparations are undertaken in every aspect of their business. But at the same time, even with all the plans and preparations an entrepreneur can possibly dream or cook up, not much can be achieved if he/she fails to stay true to the plan. And staying true to one’s plan requires determination and persistence. Persistent individuals and their businesses are very often the ones who make it to the finish line. Whenever you feel like giving up, remember the words of Thomas Edison: “Many of life’s failure are people who did not realize how close they were to success when they gave up.” Nevertheless, as mentioned earlier, there are indeed times when slight deviations from the original plan may be required. The key to success here is, knowing when to stay on track, and when to make needed changes. The road to success might be shaky, but careful planning and perseverance are bound to prevail in the end.

The importance of standing apart from the crowd

As a small business owner, you must always remember that there are countless other small businesses out there, many of whom happen to operate in the same niche as yours. So how can you ensure that you compete favorably in the industry? Simply be unique; make the products or services you offer stand out. You can also set yourself apart by the way you and your operatives relate with your clients or customers. Here are some specific tips on how to make your business more unique:

  • Endeavor to consistently highlight the unique solutions your products or services offer.
  • Studying your competitors is important; but be careful not to end up copying them.
  • Package your products distinctly.
  • Be innovative; strive to be a trend-setter and not a trend-follower.
  • Try as much as possible to offer personalized services.

Although there are no strict procedures to follow to achieve small business success, a careful combination of the above mentioned factors will edge the business closer to success.  Failing in any of the above points sets back the small business a great deal as they are more or less the bedrock on which the growth potential of the business is grounded.

About the author:

Lewis Edward is one of the owners of TheOfficeProviders. He is a real estate investor with many interests in other sectors. Lewis researches and contributes various written features for TheOfficeProviders in areas regarding real estate, including office space for rent and serviced office space , and general business and economy matters. Lewis is experienced in the inner workings of both the traditional and flexible workspace industries and has developed close links with various figures in real estate circles, as well other circles.

Categories
People & Relationships

How To Make and Utilize Contacts to Further Your Business

Whether just beginning a business or looking to further a company that is already fairly well established, as a business owner it is always a wise idea to investigate and explore the current connections and contacts within a company. The contacts a business owner has can deeply impact the publicity of an entrepreneurial venture and can positively or negatively affect the eventual outcome of a business’s success.

Building Contacts

Networking is an advantageous way to further connect with other like-minded business owners and build contacts for a business. Two common ways for building business connections are the categories of Social Media and Business Networking.

Social Media

It seems as if every business is on Facebook and Google+ these days but those businesses understand that social media has changed how we connect with business contacts as well as customers. Social media allows business owners a rare opportunity to add personality and professionalism together for a better understanding of client demographics and what customers want and need as well as their habits, hobbies etc… Social media also gives business owners an opportunity to connect and view how other businesses are doing as well as project business values to a market that may have not been reached before. The connections made through social media may seem shallow at first but it is through the sharing of information that connections, referrals and brand advocate clients are made.

Business Network

Business networking is fantastic for meeting other like-minded business owners and promotes a business through personal, one on one connection. Unlike social media contacts, contacts made through business marketing have an understanding of what it takes to be a business owner and believe that community is the key to better business. It is through meeting other business owners that a community can be created and referrals as well as publicity is spread through word of mouth by other trusted, successful business entrepreneurs. It is also through these business networking meetings that contacts can be made that can be utilized for the furthering of your startup company.

People to Connect With

There are several contacts that a business owner should utilize immediately to further promote and increase business. These contacts work as advocates for a company and use a community mind set to better businesses and the communities around them. They are beneficial in multiple ways and if not yet a part of a business contacts list, they need to be added and connected with right away.

A Mentor

A mentor is a successful business professional who business owners can turn to with advice and questions. Mentors have wisdom and experience in the entrepreneurial ventures world and can use their knowledge to prevent startup businesses from making the same setback making mistakes they may have made. Mentors also tend to have a large amount of respect within a community and can actively discuss business with other members of the community to spread the word about businesses that will be successful.

Like Minded Business Owners in Different Industries

It is important to remember that something can always be learned from other business owners, even if they are not in a similar industry. Connecting with a business of a different industry can add insight to ways that may improve customer service, organization or other business aspects within a company and industry. It is also through these connections that customers may come from an area of an unexplored but profitable demographic.

Business Owners in Similar Industries

Owners of companies that focus on a similar demographic level or offer products clients would purchase are a wise addition to any contact list. These business owners can refer clients to business products as well as make a valuable resource for discussing industry problems or issues. Having a connection in the same industry embodies a spirit of community, smart and professional business practices and displays a wanting of successful businesses with an industry.

Further Your Business

As a business owner it is always advantageous to make connections and contacts within the business world. As discussed, the contacts made via social media or business networking can deeply affect the eventual outcome of a business’s successes or failures. Connections with clients and businesses alike actively promote the furthering of a company and it is through contacts, that businesses and business owners are able to really feel successful.

About The Author

Steven Wendt is the Internet Marketing Manager at UV Cards, a leader in the printing and business cards industry. He enjoys providing tips about networking and creating professional business cards.

Categories
Branding

The Psychology of Brand Loyalty

Brand Loyalty is one of the buzz phrases thrown around marketing departments and is considered powerful enough to have commissioned thousands of psychological and academic studies, but what is the mechanism going on inside your brain when you reach for that familiar brand and is there really such a thing as brand loyalty?

Brand Loyalty or Brand Habit?

According to Psychology Today brand loyalty is nothing more than “brand habit”.  We choose a brand according to whether it feels the most comfortable.  We may have always been given certain toothpaste throughout childhood, so in adulthood will always feel most comfortable when picking up this brand.  Likewise psychology today reports that a brand which sounds familiar i.e. has part of your name in it, or sounds reminiscent of a place you have close emotional ties with, will always be your first choice.  Once you start to cultivate an unconscious, emotional response to a certain brand you’ll continue to pick that brand for the long-haul.  Rather than creatures of loyalty then, we are much more creatures of habit.  But of course, the report of the habitual tendencies inevitably begs the question of what makes us pick up certain products in the first place?  After all not everybody has “coke” written into their name.

Cult Branding 

A 2002 study called “The Power of Cult Branding”, now a module at Harvard Business School, claims that a certain kind of branding, known as “cult branding” ignites the consumers’ imaginations and loyalty like no other.  The “seven rules of cult branding” are said to win those first initial customers and keep them coming back for more.  These are:

  • Create a Social Group
  • Have Courage
  • Make it Fun
  • Cater to Human Needs
  • Allow Customers to Contribute
  • Be Open and Inclusive
  • Encourage Personal Freedom

One of the key facets of cult branding is creating something simple and memorable which at the same time is bold enough to catch the eye and do things a little differently.  But cult branding goes beyond just supermarket products.

Get Noticed

Whatever your service is you need to get it noticed in the right fields by the right people whether this be during business presentations, conferences or any other relevant event.  Think about everything you take with you; a branded conference folder or promotional folder not only makes your name visible, but adds professionalism.

You can brand pretty much any item of stationary you can think of from pens and pencils right up to conference boxes and business presentation folders.  Making sure all your equipment is consistent and ordered demonstrates that you mean business, whilst also getting your name out there.

Choosing a particular service or product is normally more of an unconscious decision than a conscious one, and a huge part to play in this is the frequency with which a person sees your logo or slogan.  Think of huge brands like McDonalds or Coca Cola; part of their secret is having their name everywhere (including, at one time, in the Himalayas).  Bespoke stationary is a great way to start getting your company into the unconscious of those relevant clients and customers.

Categories
Operations

Streamline Your Social Network Marketing with Automation

I hear from many clients and newsletter subscribers who say that they are amazed by how much content I am capable of putting out. They commonly ask, “How are you able to be in so many different places at once?” They think I have some magical secret, never sleep, or have an identical twin they don’t know about. But the real answer is much simpler than that: automation.

It’s easy to increase your visibility across your social networks by linking your sites to one another with automatic posting mechanisms. Not many of us truly have the time to separately manage our Facebook, Twitter, and LinkedIn accounts, sending out relevant updates, connecting with clients, and keeping people updated on our business-related developments. In fact, some people get so overwhelmed by this aspect of their business that they resort to Social Media Managers-a job title that has sprung up in recent years.

If you can’t afford a social media manager for your business, here are some things you can do to improve your social networking presence.

Automate

Start by linking your Facebook, Twitter, and LinkedIn accounts to one another so that whenever you post on one, your content gets cross-posted on the other sites. This way, you can send out messages across all platforms with a single click.

Do a quick Google search to find the latest cross-posting apps and software, or you can ask your assistant for help in finding the best one. I am available for recommendations if you don’t know where to begin, just comment on this post and ask.

Update Every Day with Compelling and Relevant Updates

Of course, even with all this cross-posting, your social network marketing will not be effective if you are not willing to send out updates on a regular basis. Many people find that posting even once a day can become a time-consuming chore.

That’s why I like to recommend to my clients that they write a week’s worth of updates at a time. After you do this, you can enter them into a free or fee-based piece of software that automatically sends out the updates at scheduled times. My personal favorite programs for this purpose are HootSuite and SocialOomph. You’ll still need to schedule a little bit of time every day to manage your networking and follow up on things, but you will save time. Here are some things you should still try to do every day:

  • Answer messages and social networking emails
  • Respond to your comments
  • Find interesting things to retweet
  • Connect with others
  • Participate in your groups
  • Thank others for retweeting

All in all, with simple automation tools and a few minutes a day, you can use social networks to advance your marketing and bring in new clients.

Categories
Branding

How Small Businesses Can Drive Customer Loyalty

If you’re a small business owner, you know how confusing it can be to market yourself and draw in customers. Do you want to offer a daily deal? Have you Tweeted at least twice today? Should you buy an ad in the local newspaper?

On top of that, you’ve got to balance the stress of managing staff, inventory, payroll, and customer relations.

Your emphasis should be on that very last factor: your customers. Make it your mantra to always put the customer first, and you’ll find yourself better off a year from now than if you prioritize everything else and assume the customers will have a good experience.

Think about it: the inherent problem with daily deal sites like Groupon is that they bring in a flood of customers once, but only occasionally create lasting relationships. Your most valuable customers are the people that return again and again, and tell their friends and family about your business, in turn.

How do you inspire them to do that? Start with these simple rules:

1. Follow the Golden Rule of Shopping

Whether your business offers a service or a product, think about the places that you frequent as a consumer. Chances are, you’re brought in by the right combination of quality, value and personal service. We’re often willing to pay a bit more for something that’s better — cheap is not always best. Keep your quality levels high and you’ll find a clientele. Running a business is a lot like gift-giving — the best ones are something you’d want for yourself!

2. Give Customers Incentives

The old ‘buy 8 sandwiches, get 1 free’ punch card is still a mainstay at some restaurants, and for good reason. When we feel like we’re earning something by patronizing a business, we’re more likely to choose it over a competitor. The concept has even moved online. Apps like ‘Punch Tab’ and ‘Perkville’ incorporate rewards for purchases and sharing into Facebook, allowing customers to earn free and discounted products for being a loyal patron and spreading the word.

3. Engage with Your Clientele

Even with social media becoming the new marketing norm, there’s still nothing more valuable than a conversation, a smile or a ‘thank you.’ If you have a physical location, emphasize conversation and friendliness over ‘making the sale.’ When people feel a genuine connection, they’re more likely to make a purchase. Likewise, don’t use your Facebook, Twitter or Pinterest accounts solely to push product. Write creative posts that inspire conversation. By engaging customers, they’ll look to you as an expert, building trust when it’s time to make a purchase.

4. Say ‘Thank You’ and Stay in Touch

It’s up to a business owner to foster a relationship with customers, not the other way around. Keep an email newsletter sign-up sheet by your register or on your website, and give people a freebie or a discount for signing up. Don’t spam people, but do send out a monthly email that includes a deal or two that will inspire them to return. For bigger clients and customers, it’s often worth keeping a supply of thank you notes on hand with your company’s logo or letterhead. A quick, handwritten note only takes two minutes but it’s so above-and-beyond that it’s guaranteed to be noticed.

What other ideas do you have for inspiring customer loyalty? Have you experienced success with any of the suggestions here?

About the Author

Anita Brady leads the team at www.123Print.com. The website offers customizable print products for business and life situations, and has everything needed to market a business, where you can make your own business cards and design other promotional items that combine high quality and customization with an affordable price.