Archive for June, 2011

Why Your Business Plan Won’t Make You Rich Or Famous

June 27th, 2011

Searching Amazon.com for business plan books provides over 36,000 results. Few other areas of the business section in Borders is so crowded. Why is this? I believe it is because somehow business owners think that if they have a good enough business plan, they can convince investors to give them money and make their business successful.

Entrepreneurs just like you are constantly seeking the silver bullet of “the perfect business plan” that will get them financing and bring them to the promised land of business fortunes. I have some bad news for you if that is what you are looking for. A plan, no matter how good it is, will not make you rich or successful.

If running a successful business was as easy as writing a plan, very few businesses would fail. Current statistics show that the more than half of all new businesses fail in their first two or three years. This is not news. The majority of businesses have been failing since the first owner put out a shingle. Why? Bad ideas? Bad execution? Some of both? We do not always know.

What we do know is no business ever failed because it did not have a business plan. A plan on its own has little value. What is valuable, though, is the process of writing a business plan. Writing a business plan forces you to put into words all of the ideas and concepts of your business. It leads you to examine your financing, marketing, competition, strengths, weaknesses, opportunities, and threats (SWOT). This excellent process will increase your chances of having a long-term successful business. That is what you are really looking for. If you have that, investors are easy to find.

Get Local Media Coverage For Your Small Business – 7 Strategic Steps

June 23rd, 2011

Having your business featured in the local media can feel like getting lucky at the roulette table. The wheel spins round and round and you just pray that tiny ball lands on your number so your story is one of the chosen few to receive coverage that day. It is seen as a big bonus because you’re basically getting free advertising, and the people absorbing that content are active viewers, listeners and readers.

So how do you get your local newspapers, TV and radio stations to take notice of your company? You’ve been sending out press releases when you launch a new product or have an event, you’ve been calling to follow up, but nothing seems to work.

Let’s take a look at some simple suggestions for getting your story in the local news.

1. Know Your Current Events

This is first on the list for a reason. You may have heard it before because it truly is the most important factor. Connecting your small business to a current event is the easiest way to get some media attention.

When you’re looking for stories to pitch, think about local, state, national and even international news. Most local media outlets include national and international news in their broadcasts or publications. They are always looking for ways to connect the local community to “the big story.”

Remember…most news is not good news. That means you’re going to have to be willing to participate in stories that may not give you the glowing coverage you’d hoped for.

In most cases, the saying “any publicity is good publicity” is right on. You just have to find a way to be positive about what could be viewed as negative circumstances.

For instance – what is your restaurant doing about that huge recall on lettuce? Is your ski shop still making sales despite the warm winter weather? Will you be hiring fewer seasonal employees this summer because of the slow economy?

Staying up to date on the news means you’ll be ready when an opportunity to attach your small business to a big story arises. If you get a request for an interview without asking for it, make sure you brush up on the topic beforehand. That way you’ll look smart!

2. Look for Unique Stories to Tell

Chances to connect your business to a news story won’t come around every day, but media outlets are always on the look-out for human interest stories, sometimes called “fluff pieces” in the industry.

These are the feel-good stories that everyone loves to watch. If you can get the media to bite on a story like this, it’s like striking oil! You may not make the front page or get coverage at the top of a newscast, but you can bet they’ll tease the pants off it so that people stick around.

Is your company sending anything – or better yet – anyone to help with the latest disaster relief? Are you doing anything to help families in need over the holidays? If someone who works for you is a member of the military and has been deployed, let the media know about send-off parties and how you plan to support the employee.

It may sound like tooting your own horn (and you are), but that’s the way it works. By the way, if you can pitch a story relating your business to puppies, kittens or babies – you’re in for sure. I’m not joking!

3. Appear as Professional as Possible

When a newsroom gets a press release that’s full of typos and blatant errors, it not only gets eye rolls it also means you lose credibility. When possible, have more than one person proofread your news release before it’s sent out.

A stylish looking press release can go a long way. You may want to consider putting together an entire media packet inside of custom presentation folders. That way you can include extra background information on your company, DVDs, business cards and more along with your release. You can order presentation folders online and personalize them with your company’s logo and marketing message.

Pitching your story inside an attractive marketing folder means you’re going to get a closer look than a plain press release that gets spit out of the fax machine. Plus, showing up in person to hand over your material could lead to valuable connections inside the local media.

It’s also important to write a headline and sub-header for your press release that is attention-getting and makes the reader want to learn more. This makes it obvious to the people in the media how attractive your story could be to an audience.

4. Understand the Newsroom Hierarchy and Make Relationships

Any working relationship you have in the media can prove to be valuable. Most newsrooms have all sorts of employees suggesting story ideas at editorial meetings, which are usually held a couple of times a day. Many times reporters and producers are looking for a story to recommend, and if you give them an idea, you’re actually being helpful.

However, not every position in the newsroom carries the same amount of weight.

You may think that if you have an “in” with the news director or chief/managing editor your story will be on the top of the list. That’s not always the case. News directors are busy people, and some are more hands on than others. You should realize that if you’re only e-mailing your story idea to the news director or editor in chief – you could be getting overlooked.

Reporters, producers and the editors of particular sections of a newspaper or magazine are good connections because they’re pitching stories on a regular basis. How much influence they have in a newsroom will vary depending on the individual.

Reporters are obviously the people putting together featured packages for the news. Their stories are the centerpieces of newspapers and newscasts. Developing relationships with reporters could mean you’re the first person they think of when it’s time to cover something related to your industry.

Producers and editors are the ones making a majority of the content decisions. They’ll likely decide where your story appears in the paper or airs in a broadcast. Many of them are also writing copy, and oversee photography choices or video editing.

One of the more influential positions in a TV newsroom is the assignment desk – sometimes called assignment editor or assignment manager. This is the person who organizes all the scheduled events, keeps a close ear on the scanner for breaking news, answers a lot of phone calls for news tips, sets up interviews and much more. The assignment desk is sort of like the central nervous system of the newsroom. Getting your story idea to whoever is sitting at that desk should be your No. 1 goal.

5. Give the Media Monster What it Wants

The Media Monster is hungry. It’s also a picky eater. You need to feed it some delicious treats.

Words are powerful, but a picture is worth a thousand words. Having opportunities for good video or photographs is extremely important. If the story you pitch has a good visuals for video, the rest of your bases should be covered. Good video means eye-catching still pictures and usually interesting audio as well.

If your company is holding an Easter egg hunt for kids, don’t invite the media for interviews during the ice cream social afterwards.

If you’re holding an event with a special speaker, the least you can do is make sure there’s interesting stuff to shoot inside the room. That might mean you have to make some signage with logos, photos, charts and graphs. Then you can set up some displays for the camera guy (or girl) to shoot. Don’t feel guilty about manufacturing photo and video opportunities for the media. Politicians have been doing it for decades.

It’s a smart idea to indicate on your release a time and location where media representatives can find the best photo/video opportunities. When the Media Monster’s belly is full of tasty video, scrumptious pictures, and delectable audio he’ll be happy and will come back for more.

6. Buy Advertising

This sounds a little shady, but it really is the way things happen. Becoming a regular advertiser in the local media usually means they’ll turn to you when there’s a story relating to the products or service your business provides.

Of course, buying ads or becoming a sponsor doesn’t guarantee you’ll get coverage. You’re not actually paying for that. Buying advertising won’t necessarily make you a favorite among the folks in the newsroom, but if a sales rep hears the newsroom is planning a story on the scorching heat, he may suggest the reporter contacts your air conditioning repair business.

If there is a story in the works about how road construction is affecting local businesses, your shoe store could be the first place that comes to mind because your full-page ad has been running in the paper. Some newsrooms even have lists of local businesses that are also sponsors so reporters call them first when covering certain topics.

7. Be Flexible and Respectful

You may think your schedule is jam-packed, but the people who work in television, radio and print have extremely tight deadlines to meet. In most cases, they’ve got one work day to turn around their story. But you have until next week to finish your little Power Point presentation.

Trying to reschedule an interview for a later date can be a big hassle. Usually these interviews only take around 15 minutes, so find the time in your day to talk to reporters if they request an interview. If you can’t do it yourself, find someone else in your company who can.

It is also important to have some manners when dealing with the media. Working in news can be a stressful job. Would you want to call the mother whose son was just murdered for an interview? Would want to shoot video of deadly car crashes day after day?

Sometimes people get annoyed with those pesky reporters and photographers. Just remember that newsrooms are very social places. If you act like a jerk to the photographer, everyone at your local paper or TV station is going to hear about it, and so could many other people at other stations and publications.

Free Local Business Advertising Ideas

June 19th, 2011

If you are looking for affordable small business marketing ideas, the internet has a great deal to offer. Even if people are not buying your products or services on line, most people now do their research there first, before going out to shop. This is especially true for more expensive items. There is also an increasing use of smartphones with map features when people are out and about. If you can make it easier for customers who are looking for what you have to offer to find your website, this can only be good for your business. Here are a few free local business advertising ideas that require only minimal technical know-how to implement.

Put your business on the map!
Often internet search results will include map results near the top of the listings. Google Places, Bing Local Listings or Yahoo Local are all useful in getting your business higher up your clients search results pages, and adding your business to these listings is effectively completely free local business advertising!

Is your website search locatable?
If you’re a local business providing a service for local customers, your physical address is a major part of what many potential customers are likely to be searching for. Your website needs to include your address, ideally on every page. You could include it in a footer for example. It is also worth including a paragraph on your website that lists nearby locations also served, so you’ll have a chance of appearing in those locations too. If you have a testimonials page, you could include the location of the customer in the testimonial heading too. This all helps the internet search engines bring people looking for exactly what you have to offer, directly to your website.

Can Facebook work for your business?
Small business marketing includes everything to do with engaging with your customers, and Facebook is now the largest social media site with over 500 Million users, that is one in every 13 people on earth! It is not just for youngsters anymore either, 30% of Facebook users are in the over 35 demographic, and this segment is growing! This is a place where a lot of your potential customers hang out, chat with their friends, and go to get news and information.

Having a Facebook page for your business is a great way for you to engage with customers and potential customers, and if your posts are interesting, funny, or both they are more likely to ‘like’ your business page in order to see more posts from you, and this will keep you in their minds. Your Facebook page should contain a summary of what’s great about your business, and a link through to your main website. Try to make the page interesting and personal, rather than focused on your sales pitch. Facebook is a place to be sociable, and if you think about the way you communicate on there as if you were in a real life social situation with all your potential customers you won’t go far wrong.

It is advisable to think carefully about how you use the site; people do not react well to overt selling on Facebook any more than they would react well if you walked up to them at a party and started selling straight away before they had got to know you at all. People are more likely to buy from you if they know, like and trust you. Mix in occasional posts about your business, offers etc. with a larger proportion of interesting and personal posts about yourself, and share snippets of your expertise relating to your business too. Try to be as open, transparent and honest as you can. The internet is a very public place and people will soon see through any attempt at deception.

A Quick Guide to Government Grants For Small Businesses

June 16th, 2011

Government grants for small businesses are a great way to get the money to fund your start up!

How many times have you had a great business idea, but no start up capital? If you’re not already an entrepreneur, or related to one, you might not even know anyone with the money or contacts to money that could help you.

You could try going to a bank, but if you don’t have some sort of collateral, you’re probably out of luck–especially in today’s economic climate.

Besides, you have to pay loans back!

How about the idea of getting a government grant?

What’s so great about government grants is there is money currently available for every possible type of business. More importantly, once you secure the money, you don’t have to pay it back. So, it’s not going to cut into your fledgling business’ profitability.

You can also get grants from private organizations!

I suspect you’ve heard that you have to jump through a lot of hoops to get grants. Well,…that’s actually true. But I’ve got news for you. As an experienced entrepreneur, if you can’t get through the details of a grant application, then entrepreneurship might not be for you.

Really, it’s not all that difficult. If you want to start your business hard enough, you’ll get through it in style.

There are many resources on the Internet you can use to find grants. Two are the Foundation Center and also a site called Grants.gov, which is run by the government as a sort of grant clearinghouse.

The Foundation Center is the nation’s leading authority on philanthropy. Other than hooking you up with non-governmental money sources, they have a number of great online courses you can take that will really help hone your grant application skills.

Small Business Tips: How To Get Media Coverage

June 11th, 2011

One of the great challenges of being a small business owner is to get noticed in a very crowded marketplace. Getting your name out in front of the pack is one of the key arts that once mastered, will enable your business to grow exponentially. Press releases and media coverage is one of the best ways for your business to get noticed.

But the important questions is… how do you get media coverage.

What most small business owners don’t realise is that it is quite easy to get media coverage if you have a story that will help the media sell their business which is the news and entertainment. Many years ago I started collecting the fuel prices in our local area and released a press release each day stating what was the highest and lowest prices available.

After the first two press releases, one of Townsville’s premiere radio stations and a television station picked up our story and gave us free media coverage on what we were doing. This gave me the opportunity to tell my story and to share what was happening in the local fuel prices. So how did this help our business, well every time I did the story I would make sure I wore my company shirt with our logo plastered all over it and website. This allowed us to associate the story with my company. Over the 2 years we did this we doubled our business so it does certainly work.

The key issue that you need to know about the media is that they are always looking for people to tell an interesting story and if you have an interesting story then you need to share your story with the local media. It doesn’t matter whether you work in a small town or a major capital city, the way you do it is always the same… you have to have a story worthy of the news.

I was recently working with a new Kebab shop and we were looking for new ideas about how to sell his business to the local community and to gain maximum exposure. When I first spoke with the owners, I asked them what were their Unique Selling Point. At the time they didn’t have one, so we developed one. It ended up that we developed a brand new product which was the Worlds Hottest Kebab!

Now if you are going to have a USP like this, then the media will want to know about it. Making a claim like this is something they will investigate, So I worked with him on developing a media release and strategy to get media coverage.

The owner of this shop now has a lot of opportunities to use the USP to get media coverage by promoting to the media fun events such as running the worlds hottest kebab eating competition or crowning the man or woman who has eaten the most of the hottest kebabs as King.

The key lessons you need to learn in getting media coverage is this:

1. Don’t be afraid to send out a media release on anything unique happening in your business

2. Build a relationship with your local media on the things you do

3. If something else is happening in the media, share your thoughts and comments with them

4. Never be afraid of media coverage, the more people who hear about your business the more that are likely to buy from you.

5. Never send out a media release simply selling a product. However if you are launching a brand new product that will change the world then this is something that the media will want to know about.

How Can I Get the Word Out Fast About My Small Business?

June 8th, 2011

What is the best way to advertise your business? As an entrepreneur, you want your product, service, or business idea to reach your target market as soon as possible.

The fastest way to market is to use the Internet. Online marketing reaches more people around the world quicker than traditional marketing campaigns. As a business owner, you can choose between paid or free marketing strategies that suit your budget. To get the word out about your business consider implementing some or all of these online marketing initiatives:

1. Get Found with Search Engine Optimization

- Get you business website on the first pages of search engine listings by optimizing for the search engines and web directories.
- Index your website for it to be found easily by search engines. Include text navigation and a sitemap for proper website indexing.
- Create useful content. People search online to get information. Give it to them with informative and relevant content.
- Build links from your website to other websites. Great content encourages linkage. Join the online communities of users and experts, such as forums and discussion boards.
- Optimize each webpage. Every page should have a relevant URL address and appropriate Meta tags. If there are images in the page, use Alt-tagging and write descriptive text attributes. Use title and header tags (h1, h2, h3) that describe the page accurately. All these SEO tactics are considered in search engine rankings.

2. Build a Business Blog

- Complement your website with a blog that delivers updates about your business, products and services regularly.
- Link your blog and your website for wider audience coverage for your business.
- Post interesting content in your blog, such as informative articles, current news and events, trends and studies. You can also interview experts and invite guest bloggers to write in your blog.
- Widen your blog’s coverage through social media networking. Link each blog post to the social media platforms you have joined, such as LinkedIn, Facebook, Twitter, etc. Incorporate share links to allow blog readers to share your posts to their social media sites. Share services like Addthis.com makes make link share possible.
- Incorporate an email opt-in form in your blog to gather readers’ email addresses. You can then include these addresses in your email marketing campaigns.

3. Get the Message Out with Email

- Include your business logo, company slogan or email signature with every email message you send. You can also place your social media profile links. These provide your identity and contact details.
- Create a good quality email layout that you use every time you send out your message. The design should include your brand identity and social media links. Choose your theme, colors, fonts and graphics carefully to match your brand and that appeal to your subscribers.
- Utilize social media campaigns to increase your email subscriptions. For example, place an email sign-up feature with each free newsletter you post to Twitter or with each promotional contest on your Facebook fan page.

4. Build Business Connections at LinkedIn

- Establish your business profile at LinkedIn to network with other business professionals and share valuable information and ideas. Place as much information about your business in your profile to attract more clients.
- Create or join groups related to your business niche or industry. This gives more exposure to your business and provides you information on trends, customers and products of your fellow group members.
- Use the News section at LinkedIn to automatically broadcast from your blog RSS. This allows your LinkedIn contacts to get visibility of your blog.
- Explore new business opportunities by using LinkedIn’s search engine and research tools.

5. Engage Fans with a Facebook Page

- Tap into Facebooks’ big user database by creating a fan page for your business. Place unique and useful information into the fan page.
- Promote your fan page by sharing the page link to other social media sites and through email.
- Place fresh content in your fan page by writing on your fan page wall regularly. Setup an RSS feed from your blog to automatically deliver content to your page whenever your blog is updated.
- Encourage email subscriptions by setting up an email opt-in form in your fan page.
- Join industry groups or become a fan of industry pages. Share posts from these groups in your fan page. Comment on postings actively.
- Post your business’ promotional campaigns in your fan page. This encourages fans to share your page with their friends.

6. Launch Your Business Presence on Twitter

- Create your profile on Twitter, making sure to place complete information about your business.
- Follow people you know at Twitter by using the Twitter search engine or by using your email contacts.
- Tweet regularly and in a conversational tone, to engage followers.
- Link your blog to your Twitter account using tools like HootSuite or Twitterfeed to automatically tweet any updates in your blog.
- Search for your company using Twitter’s search engine and find out who talks about your business or products. Reply to tweets about your business and thank these tweeters for mentioning you.
- Organize your Twitter following by groups. Click on each group to get a pulse of their topics. Join conversations if you can.

7. Advertise with Pay Per Click (PPC)

- Research the different PPC search engines and decide on the one that suits you. Your choice can be based on the costs involved or your planned level of involvement in managing the PPC campaign.
- Choose relevant keywords for your PPC ad campaign. These keywords can come from your marketing campaigns, or the search terms that visitors use to find your website. Review your social networks and study how customers, fans and followers refer to your product or website. How they refer to you can be the relevant keywords for your PPC ad.
- Include attractive business offers in your ad copy, such as price discounts, free shipping or other similar promos.
- Test different keywords when conducting ad campaigns, to see which gets more performance benefits. Use your PPC provider’s tracking tools, such as Google AdWords’ Quality Score, to monitor the performance of your keywords.
- Optimize the landing pages of your website. Your keyword-driven PPC ads should link to the most appropriate land page URL of your website. Consider revising the landing pages if they are not matched with your ads.
- Use negative keywords in your ad to exclude target users that are not matched to your marketing strategy. For example, the negative keyword “-free” can be used to prevent users from seeing your ad, if they are searching for free products and your campaign is not giving out freebies.

Easy Home Business Ideas Anyone Can Start Up

June 5th, 2011

Whether you are tired of your job or just looking or a change of pace, becoming your own boss is both exciting and terrifying. For those just starting out in the home business world, you will want a job that makes you money, takes very little capital to get going, but also earns you profits you can actually live off of. To help get you started, here are a few easy home business ideas anyone can do with just a few bucks.

Auction
Start your own auction site. Buy and sell products through your site that include art work, books or even toys. For this you will need a business license as well as a website, which on average will cost a home business owner $80 to $150 to start up.

Daycare
Love kids? Then daycare is a great way to make money and work from home. Most parents looking to start a daycare in their home will need to contact the local child care agencies about getting a license and having your home inspected, but the good news is, these types of jobs can make you $20 per day per child.

Sell on Amazon or eBay
Selling books and junk you find from garage sales can pay off big with sites like Amazon or eBay. For this type of job you need to know what items are actually valuable, learn to price them and auction them. There is a fee to sell on both sites, so factor that into each item you sell.

Take Surveys
This is not something you can make a full-time living off, but there are many home business gurus that use surveys to bring in a little extra money. Survey sites pay some of their takers up to $200 per month just to take a few surveys each month.

Sell a Craft
If you are good at making t-shirts, jewelry or even artwork, consider selling your crafts online through your own website or other sites like eBay and Etsy.

Customer Service Jobs
Believe it or not, you can make $700 or more per month as a customer service representative from home. Companies like Alpine Access and West at Home hire contractors to take customer service calls from the comfort of their own home. For these jobs you will need a home computer, high speed internet and telephone line before you can apply to the job.