Neighborhood Business Brokers | Tips For Business Owners

Investing in a marketing campaign: How the economic downturn can benefit the small business owner

Submitted by Guest Author Deborah Held Thinking of joining the social networking revolution or otherwise investing in a new marketing campaign, but it’s just not in the budget? Think again, because there is no better time than the present for the small business owner to invest in a new promotional strategy. Marketing, Web and interactive agencies — just like most other businesses today — are cutting costs, and their customers are reaping the rewards. Investing in an updated marketing campaign has benefits for the business owner that go way beyond counting how many fans they have on Facebook or the number of people following their Tweets: • This investment brings credibility to your company, showing the marketplace that your company is stable. • Now is the time to go after increased market share, while simultaneously increasing your own bottom line. Since most companies are operating at lower budgets, any profitability should be felt almost instantly, no matter the size of the gain. The savvy business owner should be well-positioned to see a major return on his marketing investment. • Marketing services today are more negotiable, thanks to the economic downturn. Prices have gone down for these services. (Buyer beware, however, as often, the cheapest price doesn’t include any measurability tools with which to track results.) Consider the cost of hiring a marketing professional for a staff position, which can cost $30,000-$35,000 or more annually for a new graduate, and up to $120,000 for a seasoned veteran. That same lower end cost can instead buy a marketing firm’s entire array of professional writers, master designers and experienced media relations professionals. Sound too expensive still? Some firms charge much less, offering package deals at $500-$1,000 per month, or even less based on the size of the firm and the needs of the company. Seeking out the services of a well–respected solo practitioner or freelancer can also yield affordable results and extremely attentive service. As with any service, you get what you pay for. So is promotional marketing in today’s social media world a job for the business owner him or herself? Likely not—or at least not as effectively as possible. One place to begin, however, is with your own client list, sending out e-blasts, newsletters, postcards, discount services and the like. This target market is already identified, the cost is minimal, and these promotions and communications can be managed right from your website and social networking pages. A word to the wise when going this route: Utilize a professional writer for your written communication. Is a misspelled newsletter or grammatically incorrect e-blast the impression you want to leave with your customer? Besides, as the business owner, your skills are usually better put to use steering your team and your vision from the helm of your business. Today the small business owner has the ability to clearly define his marketing ROI, as one of the innumerable changes the past few years have brought to this industry is the availability of discernible marketing measures. Where TV and radio marketing were immeasurable, social media marketing has markers to measure the quantifiable success of any and all promotional efforts, thanks to Google Analytics and other like programs. Remember, in the end, success is not always immediately measured in dollars. Increased website traffic and activity, more phone calls, greater walk-through traffic, even a larger presence in trade articles or other publications are all indicators of a surge in recognition. Ultimately, your promotional efforts are about building brand recognition. Deborah (“Debbie”) Held is an Atlanta-based freelance journalist and business writer who has written nearly 600 articles for local, regional and national publication. She helps entrepreneurs grow their businesses and increase their online presence through the targeted use of her on-point copy in newsletters, e-blasts, ads and promotions, articles, website content, Facebook, Twitter and LinkedIn management, and more. She lives in Atlanta with her teenage daughter, her beagle, her Italian greyhound, and Gavin, the cat. In her rare snippets of free time, she enjoys knitting. Please contact her at www.debbieheld.com or “friend” her on Facebook: http://www.facebook.com/debbie.held...

A bright spot in the economy “Big business from small people”

There is a reason why young people come up with new ideas. It is not that they are smarter or faster or better. It is because this is their future, their life to grow into. They see the world with no fear because fear does not let them grow. Fear is not helpful to them. That is why when I went for a walk with my 11 year old boy last year to look at the effects of the flood damage in the neighborhood, we saw two different events. I saw sorrow and pain in the eyes of our neighbors as they put out to the curb destroyed furniture, carpet and electronics. I witnessed kindness of people helping people salvage some memories and trophies from their home. I saw essence, I saw the past. Matthew, on the other hand was looking straight into the face of the future. He saw opportunity in the form of trash in the front of people’s house that was going to rot and stink and continually remind them of the loss. He said: “Daddy, we can load that stuff in the truck and take it to the dump for them, they would pay for that wouldn’t they?” Now mind you, he didn’t ask about the licensing required to do such a thing. He didn’t think about insurance and taxes and 1099’s. He didn’t even ponder the philosophical reasons people get so attached to their stuff, much less where was the dump anyway. He just walked up to the neighbor and got himself a customer. Matthew is twelve now, and JunkGenerals.com, as his company is called is thriving. Even in this economy where grown-ups are wondering what is the future going to hold for them. The boy and his nine year old sister keep busy every weekend without fail. They would have more business if that darn school didn’t take up most of the week. No worries though because he has forged relationships with other contractors in the field that have their drivers license already to pick up the slack while he is “wasting time in school” as he puts it. This is real money that I am talking about, thousands of dollars saved from a boy who sees a need and finds a way to get the job done. What are you doing? For many of you the answer is nothing. Kids can’t wait for things to change before they do something. They don’t have a choice and they know it. That is why they do first, and ask questions later. You have seen this economy breed people who know that the answer is to be their own boss and buy their next job. Yet you stifle yourself into nothingness because you ask too many questions and never do anything. JunkGenerals.com is expanding. It has proven itself as a viable business and has attracted investment. (Albeit from family members) We expect the business to evolve and change so that by the time the children graduate High School it will be a full blown self running, income producing entity. All because some eleven year old boy made a move, and got a real live paying customer. You can do it too! No excuses! You are more creative than you think you are! We will keep you updated on the progress of Matthew, Sophie and Junk Generals. Now it’s your turn, our country is depending on you....

To Leap or Not To Leap

Remember the time you grabbed all the bravery you had, and jumped off the high dive for the first time? For many of you that was the first real due diligence that you undertook. You probably stood around the ladder for a couple of days just to see if anyone fell off while climbing. You checked out the jumpers and compared them to yourself, in terms of age, weight, athletic ability and the types of bathing suits they were wearing. (I once saw a poor kid lose his suit in the crystal clear water under the board. The next time he was at the pool he was wearing cut off jean shorts and belt! ) Then one day when there were very few people at the pool, you took to the ladder and began to climb. All the while you were hoping that a line would not form at the bottom, because if that happened, you were done. Nobody ever, and I do mean ever, climbs down to endure the abuse and torment of the crowd below. There really is no turning back. Buying your first job feels just about the same doesn’t it? You really want to be an owner of a business and have worked hard to get to this point. You have studied all the papers and the industry to the nth degree. Now you are on the ladder and have that nauseous feeling in your stomach and look back to see a line forming and a small amount of panic creeps in. Let me remind you why you will beat the odds and succeed. There are no absolutes in anything. You too, have your own reasons that cause you to take the chance of going into business for yourself. You have many qualities that will enable your success, but you don’t need them all, and you don’t need them all the time. You do however need some, and you need to use the some, all of the time. I bought my first store when I was eighteen. I was not especially smart. I was not especially driven. I was not especially passionate or pressured from family. I did have two things that for me, were necessary in order to take the leap of faith in myself to strike out in business. They were, and still are: 1. Pride 2. Nothing to lose Now I realize that at eighteen, I without question had nothing to lose; our situations may be slightly different with you having tons of worldly possessions to your name and probably a family to support. But it is more of an attitude that I am going for here. Ask yourself what is the worst thing that could happen? If the worst thing is that you may lose money, big deal. Everybody loses money sometime in their life, you can get that back! What you can’t get back is the time spent in a dead end job that is stealing your opportunity to soar with the eagles! This brings us to the second item; Pride. What the heck is wrong with you? You can simply will this business idea of yours to succeed if you want it badly enough. You can’t let the Nay-Sayers have their way. A strong business will adapt and overcome to any circumstance. The beauty of a small business is that you can change your mind and switch business plans on a dime. You keep your nose to the winds of change and go with it. You don’t fail, it is that simple. Your pride won’t let it happen. You see, you are already in business for yourself now. You are just adapting to the now situations in your life and creating another income source. There is no turning back; you are at the end of the diving board looking down upon the crystal clear waters of success. Now what are you waiting for…Jump!...

Cheap and Easy to Start Up

Starting a business is a dream for many people and will remain a dream for most. It is not the lack of ability or of determination but of procrastination. It is very human to want to provide the “perfect” product. To research and to plan the entire business cycle down to the last paperclip. A friend of mine who is by far the most intelligent and creative problem solver I have ever met has been for years coming up with great ideas for businesses that he is still working on. I am sure that years from now he will still be planning for the next big opportunity. The challenge is not the inspiration, but in just Starting. We can come up with, and I have come up, with many excuses why I can’t start today. First we need supplies, people, forms, licenses, desks, phones, etc…what you really need is a customer and the rest will follow. It is easy to start up, simply knock on a door and ask for a shot. You will most likely change your business plan 3 million times anyway. The best research is on the job training. By the way nothing is stopping you from learning the business by day while working for someone else in the field, and then getting your own customers at night. Start today....

Self Employed Nation

We tend to get caught up in the news of the day and treat it like it was happening to us. How many times do you find yourself in your car listening to the news on the radio and then trying to fix someone else’s problems? Life today is not more complicated than in years past, and certainly less stressful. Yet we let ourselves be sucked in by the news that we have no control over, and add it to our lives. People are still the same as they have always been, and most people want to grow, intellectually and as Maslow believed achieve “self actualization”. Hard times in America are where we shine for the world to see. The solution is to look inside and decide what you really want out of life. Then look at your actions and ask yourself if those actions are moving you closer to…or further from that goal. More than we can possibly imagine the challenge is not your circumstance but YOU. The answers lay in one good word…WORK. Real plow the fields kind of work. The kind of work that wakes you up at 5:00 AM and gets you in the field until noon, you go home for lunch and eat an entire chicken and a half gallon of milk, and get back out there and work the land till the sun goes down. Then go home smoke a pipe, go to sleep and start all over again in the morning. As a very successful business owner and friend of mine say’s…”We need to learn hungry”. Some of us have forgotten what real hard, sweaty, grimy, long lasting satisfying work is. Some individuals have not. They are the ones that are not affected by the economy. They are used to finding a way out, through work and the faith that “hard work always pays off”, and that the same old basic rules still apply. We need to learn hungry!...

No Such Thing as a Bad Business

People who are “interested” in getting into their own business often ask me to keep a lookout for a “good business” for them. You know the kind of business that turns a good profit, with a good history and a bright future. This is an understandable request. You yourself may be looking for the same thing right now and, I can see why you would want it. Unfortunately unlike, Real Estate that virtually stays the same no matter who owns it, a business changes forever from day one of new ownership. The history of the business is just that…History!! Why does one restaurant or dry cleaners or sandwich shop fail? When right down the street the same type of businesses selling the same products are growing and thriving. We see this everyday and still have a hard time grasping the obvious. I think it’s because the answer involves self responsibility. The truth is that there never has been or will be an honest, bad business, only bad management. The difference is always the way the place is run. The difference is the owner and leadership to the organization. When looking for the perfect business for yourself, I believe you should spend most of the time searching inside your head, before you venture to the business opportunities section of the newspaper. Many people of my own generation have no idea that A&P food stores at one time were the largest retailer in America. They had over 15,000 store locations across the country. When asked about how they have fallen so far from grace an employee said it best when he said, “We just lost Mr. John”. Mr. John was the last of the family members to have a stake in the company. An owner or any true leader has more than an “interest” in the success of a business, this person has a Passion. That passion instills a never say die attitude that permeates the entire organization. It feeds on itself and finds a way to get through the impossible times. How is it that a hard working immigrant who can hardly speak the language can flourish in this country, while many of us with all the advantages that we are born with, struggle to stay afloat. We all make bad decisions but the one we should never make is to get into a business because “the numbers look good”. The real question is do you have it inside you to make the numbers become good. Come hell or high water you will succeed. That attitude only comes when you are doing what you were born to do. That is the thing that keeps you up at night. It is called passion, and its good business....

Big Companies are Vulnerable

A strange phenomenon seems to take place when a person strikes out on their own. They seem to be embarrassed at their size and try to appear larger. Then when they get big, publicity companies make a fortune on them trying to make them appear more down to earth and personable. The truth is that small companies have a distinct advantage in service than do bigger ones and everyone knows it, but for the small business owner. The larger companies understand that people will pay more for excellent service and advice. The small business person has much more control over these things than does a bigger company. That’s why the bigger ones will always compete on price. If you play with their rules, you will lose. Make them realize that they can’t play with your rules and give knock your socks off service. The customers will race to your front door for more....

Give Twice as Much

There is something magical that goes on in this world. It is some law of nature that we all know and have seen yet can’t prove. Simply the cycle of giving comes back 10 fold. In whatever you are providing to your customer, give more. Give more than you reasonably should. More than your competitors and more than your customers expect. At this point you become more than a supplier…you become an indispensable asset, a resource. You become a friend and an ally. How many of you have a friend that you can call at two in the morning to pick you up from the airport? Most of you will have someone. Are you that person for someone else? Can you be counted on for anything or everything? I have a friend, Bill, that I think would stop the world to help me for anything. The funny thing is that he does this for everyone. He has made a career out of it. One time going on a trip I asked if I could borrow a cooler. He gave me one, but it was filled with food and even the ice packs to keep things cool. He calls his neighbors when he is having stuff done to the house and has a dumpster in his driveway so his neighbors can use it while it’s there. He also has many friends that will leave work early and go and mow his lawn and bring him food and stay on call when he got sick, and was hospitalized. His illness has revealed how his life’s work of giving has paid off in tangible ways by the love and affection of so many. People are fighting to be in the front of the line to care for the man. Would that be the case with you and your customers? Here are five things you can do: • Think; just take time to think about what are the other persons or customers needs and wants. • Put yourself in another shoes for a time. Sympathy is useless…empathy gets results. • Come up with solutions not excuses • Recruit assistance • Take action Being the “go to guy” has added perks of always knowing whom to call for good deals. Is this hard to do? Yes of course it is. Especially when you are being taken advantage of, and you will be. However then you are in control. They know that you are going the extra mile. In your time of need they will be there in droves. You will be working harder than you even dreamed possible, and the result will be more business, more friends, more money and more life. Give twice as much and watch what happens....

How to Stay Up When You’re Down

I toyed with the title “How to stay up in a down market”, but since there is no such thing as a bad market I’m going to make this more personal. After all, we all can’t be 100% all the time. Some days are harder to focus than others for a million reasons, both personal and professional. The question is how to handle it. First we must agree on the goal. The reason we got into the business and continue to stay in the business is for the money and lifestyle. We are self starters who like to have the freedom to choose when, where, and how much to work and earn. The only way to maintain that feeling of freedom is to continue to earn lots of money. The way to do that is to get out of the funk that you are in and do some more business. That’s the goal, pure and simple. The opposite is too dismal to go over but suffice to say the downward spiral feeds on itself for a long time. I’m not saying to forget about the deal that you have been working on six months that just fell through or your daughter’s wedding to that scoundrel. What I am saying is that those things have happened and will again, (We all hope the wedding is a one time deal) you may as well keep moving forward. Here’s how. In a word…Prospect, Prospect, and Prospect. Get out there and beat the streets. I mean that literally. Start knocking on doors and introducing yourself to the neighborhood all over again. Drop off cards and just talk to people. Lots of people, and do it all day. Think of ways that some of these businesses could do better, offer advice and ideas. They need your counsel. You have seen more of the competition than they have and you have something to offer that they need and want. Talk about their business and what is interesting to them. And ask them the simple question…Do you want to buy my product? When you ask questions you are in control. Throughout the day something strange will happen. You see, we can only really think of one thing at a time. If you’re spending the day thinking of how you can help others while meeting them. If you’re truly interested in them, there is no room in your head to worry about the things of which you have no control. Prospecting is the elixir of all past pain. It soothes immediately and as a bonus…produces more business which solves all of your worries. I have no problem with feeling sorry for yourself. It also has a purpose, and the cookies taste good. I’m only saying that it’s best to do it on Sunday. Weekdays are your days to shine. Let the others get up slowly and drown in your wake. The truth is that time is going to pass if you’re in a funk or not. You might as well use it to make you some more money…Prospect!...

Networking – Unusual Encounters

Networking is just another word for living. In sales or in business the way to grow is as simple as “having conversations with more people” That’s what we do as people, and that is what we need to do as sales people. This can happen at an organized meeting such as Rotary, Kiwanis, and Chamber of Commerce meetings. It can just as easily take place at the grocery store, the gas station and the baseball game. If you went to an organized networking event and met with, and had a good feeling about one person there, you would consider that a worthwhile event. That same person could have been met and talked to at the gas station with the same results. One must always be prepared for the “spontaneous meeting”. You should look for these unusual encounters. You will see that they happen more and more, the more you are talking with people. Amazingly they were just thinking about you. Or they decided just this weekend that they needed a new deck that you could build. Or, they decided this morning that they want to sell their business, which you could help them with. (This particular example happened to me again just yesterday) Things happen while in conversation with people. Here are the rules for conversation: 1. ask about them 2. ask about their family, health, and job 3. dig deeper about them 4. ask how you can help them 5. think of who else can help them and make a referral 6. take action and give value to them With this attitude and sincere friendship, the partner in this conversation will open up and become a raving fan of you and your business. Not because they have to, but because they want to. It is all about the relationship, and all about you giving value first expecting nothing and getting everything. That is the way to network, and that’s way to live....