Archive for Entrepreneur

Small Business Startup – Hostgator Coupon

For many small business startups, cost savings are important. So, I would like to share with you this Hostgator coupon in case you are considering getting a web hosting plan.

In case you did not know, this blog is hosted on Hostgator and I have been really happy with the service. The best thing that I liked was the responsiveness of the online chat help. Anytime you click on it, someone is bound to be on to speak with you. Without a big IT department and highly qualified staff, this is a really good option for me to manage my hosting.

Anyway, for the New Year, they sent a coupon code that would give you a 20% discount. Hope this will be useful for you: hgnews12. When you sign up for your Hostgator hosting account, type in this code to get the discount.

Here’s wishing everyone a very happy new year, may 2010 bring you close to your dreams.

Comments (1)

How to Start a Freelance Writing Business

How much do you want to have a freelance writing business?

Do you know how tough it can get along the way?

Laura has taken her many years of experience and put them all into a wonderful eBook. Now, you can have a mentor and a guide who will take you through the process of starting your own freelance writing business. Not only that, but all the valuable experience and knowledge that has taken her years to learn, is all yours within hours [reading]. So, do go take a look at Laura’s How To Start A Freelance Writing Business immediately!

Comments (1)

Zero Dollar Marketing – does it exist?

This is like Atlantis. Everyone has heard of it, but no one seems to be able to find it.

I really want to clarify something. You see, I have been hearing many people speak of Zero Cost Marketing; and that is so very wrong. By all the laws of nature and of commerce, how can there ever be anything of value for free? There is no such thing as Zero Cost Marketing.

Having said that, you must also know that there is such a thing as Zero Dollar Marketing. You see, it is possible to get things done without spending a single cent. How is this different from Zero Cost?

Your time, your staff’s time, talents and efforts – these are all “costs”. To get anything done, you need to spend time and effort. You might not need to spend dollars. In that sense, it is possible to have Zero Dollar Marketing, but certainly not zero cost marketing.

Why is this interesting?

As more and more corporations move towards greater accountability, Marketing Metrics have become more important. Measuring the returns on your marketing efforts is the new cool. You can no longer hide behind the “… it won an award” thing to justify your campaigns.

More and more, managers and business owners look at performance. They try to measure what is spent vs what results are generated. Simply put, an ROI model that divides results by marketing dollars spent will look fantastic when the dollars are very low. And as you Maths teacher would tell you, it will “tend to infinity as it approaches zero”.

Zero Dollar Marketing is even more important today because:

  • Marketing is now more accountable than ever before for solid returns
  • Marketing is under more pressure than ever before during this economic downturn
  • Marketers need to demonstrate positive contribution
  • Companies and businesses need to save every dollar they can

Do you or your company employ Zero Dollar Marketing techniques?

Comments

Product Innovation: Get Out of The Box

Anyone who has ever done product management, product marketing or just tried to create their own product or services will understand the problem.

When people are used to doing something in a certain way, it is hard to change. It took almost 50 years for the Telephone to become accepted and used. When the PC first replaced the type writer, jokes of putting white-out on monitor screens abound.

Now, the problem is not just about people adapting to the product. Sometimes, in the product creation process, the creators themselves are stuck in a known paradigm. Then, it becomes a problem that grows in complexity. Why?

Within a fixed and known environment, there are rules and assumptions. Trying to do something different not only affects the thing that you are attempting to change, but will affect all the supporting elements surrounding it. It is hard to explain, but let me try to use this example of flying cars.

For many years, ever since the invention of aeroplanes, there have been dreams that one day, there will be a flying car. So, designers have been trying to create just such a product. Cars with capabilities of an aeroplane, to fly. Aeroplanes with the capability of cars, to be driven on roads. Some created a helicopter modification.

You see, these creators are now stuck in the following boxes: car, flying, aeroplanes, helicopter.

What happens next is predictable. Aviation rules need to be explored. Traffic jams are bad, but at least, we can wait it out. Aerial traffic jams would be disastrous, even if the flying cars could hover. In fact, now, we can have “traffic accidents” in all three dimensions. The entire concept is mired in a lot of other issues

This is what I was talking about when you try to innovate a product. By creating a product innovation, you turn the entire eco-system upside down. Nothing that supports the proper functioning of the system (road transportation) will work because a fundamental has been changed.

One method of breaking out of the box is to take a daring step and be “silly”. For example, all the innovation so far have been focused on the car – to make it fly. Frankly, that is no longer a challenge. Personal flying is already possible. Small tiny personal planes. But they do not “replace” the car in the way envisioned. So, to get out of the box, let us imagine that we now innovate… the road.

How about that? Change the concept of “air traffic lanes” and make them literal?

My simple take: road with electro-magnetic fields, cars with corresponding capbilities and you get floating cars. Multi-tier the roads, adapt the concepts of on-ramp and off-ramps and you can have a much more complex “road” system. Car parks of course will have to adop similar changes.

Of course, this is a silly idea as it will entail billions of dollars. But it is possible.

My point is, sometimes, solutions outside the box are dismissed because people take one look at it and say:

1. That is silly
2. That looks like a railroad (or whatever is equivalent in each scenario)
3. That is not as good a solution

But mostly, we are trapped in our own little boxes. So, want to be the next Alex Bell, Bill Gates or the Wright Brothers… then dare to be “silly”.

Have a fantastic new year in 2009!

How Stuff Works
Moller
Gizmo Watch

Comments (2)

Entrepreneur Talk – Who said smaller is better?

I was thinking about small businesses the other day. There are many cliche statements, and one of them is that small businesses are “more nimble” and can beat the big boys.

If you think about the business world at large, it is almost like going to war. Hence, Sun Tze’s Art of War have been seen to apply quite well. Projecting this thought, and taking the small business cliche to be true, I now understand why “Rambo” is able to take on an entire army all on his own lonesome self – and Arnie, and Bruce Willis, and…

When you are working in a large company, you don’t worry about the lights going off because someone forgot to pay the electricity bills. The air-con is cold enough, the heater is warm enough; and of course, there are staples for the stapler. Try taking those for granted in a small business.

Then think about the attack plan. Market research comes up with the basis and the justifications, marketing puts together the targe segment and makes really pretty charts. Then you have the pre-sales team poring over every single detail to make sure all technical aspects and requirements are met. The sales team then goes in and gives a brilliant presentation, because that is what they do best.

Me? I am still trying to change the light bulb and figuring out how to un-jam the photo-copier machine.

Comments (1)

Entrepreneur Talk – Fire your Sales Person

If you are an entrepreneur, you might be a small start up with you, yourself and no one else; or you might have a few people working with/for you.

We are about to explore a very sensitive topic. Don’t read on if you have a weak stomach. This is a topic that we need to talk about, unfortunately.

Most entrepreneurs hire people only when they desperately need help. This is the right thing to do. Some small business owners fail to hire when they need to and end up suffering for it. But if your business is not doing well, will you just sit there and shake your head and blame the world; or will you take action?

You need to know what is going wrong. And once you have identified it, you then need to know how to fix it. Now, what if your sales people are not doing their jobs well enough? Assuming that you are doing something about fixing your business, eventually, you will be faced with this. After you have dealt with operations, logistics, finance and so on, you will have to face the reality of your sales figures.

There is an “urban legend” that most people in sales and marketing would have heard. It goes something like this:

“My friend who works at [name your favourite multinational] told me, that he can get fired if he does not meet his numbers. Like, a warning the first month plus a session with “the man”; and then an official letter in the second month, and then if no improvement, there is a nice pink slip on the third month.”

Sounds harsh. Might not be real. Might be. The fact is, sales people are one of the most vigorously monitored people in the company. Many feel stressed because of the expectations and quotas. But if they succeed, they are rewarded hansomely.

As a small business, you might feel that since you do not pay the “star” salaries, you cannot demand “star” performance. Think about this for a minute. Are you also saying that your services are not “star” quality and hence you should not be paid as much? I am sure you strive to provide even more value to your customers compared to your competitors.

Be aware that you might not be paying your sales persons as much, but the pressure and stress are also correspondingly lower. There will not be 200 sales people vying for the top spot of the month, no cut off for the bottom 10 and so on.

You must set clear targets for your sales team. You must be sure that these targets are reasonable, measurable and in line with the market. Then, if they are not meeting it, you need to understand why. However, understanding stops where performance ends. Your customers will not come back to you if you consistently provide poor service or products. Why then should you accept anything below the mark from your team?

It might be hard to fire the nephew of your third cousin’s aunt. But remember, you are a business, not a charity.

Comments

Small Company, Small Branding – For what?

Many small companies do not think that they need a brand. Actually, this topic has been covered by many speakers and writers who talk about branding.

Mostly, everyone is saying the same thing – you need to brand yourself. And of course, there are a ton of reasons why that is a good thing. So, if you are running a small business, how should you brand yourself and is there really a benefit to spending money on branding?

Paying a few thousand dollars to have a brand guru come in might not be the best option, especially for small businesses.

Before I go on, I want to make one statement – don’t be fooled by the big guys.

You see, many of us look at the big brands and we can understand why they do branding, advertising, marketing and promotions. Then we turn around and look at our little print shop or deli and wonder how that is relevant to us. And we think we do not need branding. After all, Jack comes in every morning for his coffee and Mary takes her bagel, with cheese; and they don’t really care the color of my logo. Actually, I just want to suggest that they do care. But maybe not in a way that you would like them to care. And in many case, you don’t care. And that makes it a moot point, doesn’t it?

Many small businesses do not take their own branding seriously. They do not see how a small business like theirs can benefit from a brand. Branding is a way of telling your customers what you stand for, and therefore, what they are getting. You would be surprised, that when you close your deli, and the new owner sets up shop, Jack might no longer get his coffee and Mary no longer needs her bagel. Why?

For small companies, branding is not about big, glitzy campaigns. Branding is about providing a consistent level of service, quality and value – and doing it with a consistently recognizable “face”. That same cup with your logo (or name, if you don’t have a logo). The same brown, eco-friendly paper bag. The tinkle of the door bell when a customer enters. Yes, even your welcoming smile. It all adds up the the total experience of buying something from you. Over time, that becomes your identity. Over time, you would have established your brand, like it or not.

So, small companies do need to brand themselves. But maybe not in the same way as the big boys do. Do you know what you need to do? If you have no idea, you might want to start with a simple Quick Branding Package which you can do online.

I want to suggest that to have your branding strategy started, do a simple survey as ask:

- what your customers like about your products/services
- what they like about your company
- what your suppliers think about your company
- what your staff like about your product/service

Once you have an idea of what your “brand” represents, you will know the priorities and the choices you need to make in order to maintain it. No need for the big bucks if you are small, but that is no excuse for not doing a few simple things to ensure your brand is clearly and properly communicated.

Comments (1)

The Leadership Competencies – Operational

If you think about it, running a business really isn’t that difficult. I mean, it breaks down to be as simple as:

  • Open shop
  • Make products
  • Call customers
  • Take orders
  • Make delivery
  • Collect money
  • Now, how complicated can that be, right?

    If you would just take a look at the many companies around, apparently, this is not as easy as it looks. To keep a business running smoothly, to keep a team running smoothly; there are processes and controls that need to be in place. To be a good leader, you must be familiar with how it all works.

    Can you imagine not knowing how money is collected? You think it is as easy as picking up the phone, asking for the accounts department, quoting your invoice number and viola! you are paid? Maybe. But do you know for sure?

    You must be intimately familiar with how things are run. The higher up you are in the organisation, the more you need to have a feel of things in general. Let me clarify something here. Being an expert at all things operational can sometimes make leaders into “micro managers”. These are the bosses who seem to be breathing down everyone’s necks, either telling them what to do, or how to do it. Love those, eh?

    The leader needs to understand and be comfortable with the operations. This will enable him to see solutions when problems arise and to spot opportunities. It will require a heavy text to go through all the various details, but know this – operational competency will make you a better leader.

    One other word of caution – don’t abuse others with your operational competency. Allow others to do their work, their way. A leader is not there to tell everyone what and how to do. The good leader allows his team to work their way out of challenges and to be on hand to assist and guide.

    Comments (1)

    Advertising and Marketing are not effective for small business

    It is quite a common lament by small businesses that advertising and marketing that seem to work so well for others, are almost always a total waste of money for the small business person.

    I just did a guest post over at Versa Creations Blog: “A 500lbs Gorilla will beat a 100lbs human anytime

    Would love to hear your comments on that.

    Comments

    Small Business Insights – Dangerous as running with the bulls

    This is just a short post because I just read a really nice post over at Yvonne’s blog titled “You Can Get Hurt Running With The Bulls – No Kidding“. Of course, the title had something to do with the small business person, and of course, it was good advise; and most certainly, it was not boring to read!

    Most small businesses run with no regard to contingency plans, safety margins and heck, some don’t even have a business plan. Actually, I am one of those really guilty party here…

    Comments

    Niche Marketing – Sunscreen!

    Here is an interesting idea. Everyone knows that sunscreens are used when you are out in the sun.

    Now, the challenge is, sunscreens are messy and they are psychologically associated with “good times on the beach”. But sunscreen is also a needed protection for skin, especially those with fair skin, to prevent skin problems. Everyone knows this, but, like a diet, no one seems to be able to make it a habit.

    SunscreenThis company, launched by two concerned (and innovative) moms, seems to have identified an interesting niche – daily sunscreen. Their company, Screen, Inc., has a range of sunscreens that promises to be non-greasy, affordable, non-irritating and dermatologist-approved. They hope that this will encourage teens to use it on a daily basis.

    This is quite smart. After all, teens are the ones who spend the most times outdoors, and they are most concerned about their looks. A face peeling from sun burn is not the most attractive, for sure!

    Comments

    A Good Marketing Plan for Small Business

    When you think about creating a marketing plan, many people feel a huge headache come on. Everyone wants to have the “best” marketing plan.

    You will always hear things like:

    “We need a creative marketing plan”
    “We need a practical marketing plan”
    “We need an actionable marketing plan”
    “We need an innovative marketing plan”

    What exactly is a marketing plan anyway? If you decided to hire 10 sales personnel and go knock on the doors of all your neighbours, is that a good plan? Is that even a marketing plan?

    Many people confuse the 4P’s of marketing with the marketing plan. Product, Price, Place, Promotions are essential considerations, but they are by no means the marketing plan. Most of us has learned what a marketing plan is in school and so, I will not insult all the readers by even attempting to define it. I just want to say that many people simply regurgitate the “4Ps”, add a SWOT analysis, talk a little about the competitors, put it into a nice format, and submit it as a marketing plan. Not in the real world, my friend.

    I would like to venture that for the small business, an academic marketing plan is really totally unnecessary. The small business owners and managers need to understand this clearly. You do not need an elaborate, sophisticated “marketing plan’”. However, you do need one. A business without a marketing plan is simply a mom and pop shop disguised as a business. Heck, some of the more successful mom and pops do have a marketing plan – and you wonder why?

    A good marketing plan for small businesses should be fun, exciting and most importantly, easily actioned upon. It is pointless to have a beautiful 99-page marketing plan that you are never going to use. Here are some simple pointers towards creating a really effective plan for your small business:

    1. Figure out what you want to achieve.

    This is commonly known as your objectives, or vision. It could be as simple as I would like to add one new, major customer this year that does $X of business with me. Or it could be a grand plan that says you want to have a chain of stores that circle the globe. But the most common time horizon a small business should look at is one year. Two feet on the ground, eyes lifted to the horizon.

    2. Figure out who your real competitors are.

    Just because you run a small eatery, McDonald’s might not necessarily be your competitor. If you are not even able to honestly appreciate who you are playing with and against, well, it’s easy to “win” when you are the only one playing.

    3. Figure out why your customers like you.

    If you are running a small business, you have customers. Why? They could easily have gone to the other guy. Understanding what value your customers see in you, will help you understand how to meet their needs better. It also tells you who you should target – people with similar tastes, needs, values… It is pointless to create an academic SWOT (Strength, Weakness, Opportunity, Threat) analysis at this early stage. Get the basics right.

    4. Find a good agency to work with.

    A mistake many small business owners make is to assume that marketing or advertising agencies do not want their business, or that they cannot afford one. Depending on your budget, there is always an agency willing to work with you and for you. I need to clarify one thing here – a freelance designer is NOT the same as a small agency. What you need is marketing and advertising expertise, not pretty pictures. Some designers do have the experience, skill and knowledge to meet your marketing needs. All I am saying is that you need to be clear about the difference between a great designer and a great marketer. Talk to them (agency/desginer/freelancer) and evaluate their track record. Then pick the one you like most. Go with your gut after all the evaluations are done.

    5. Stick with it.

    Stay with your plan. Give it a chance to succeed. Just because the first flyer distribution flopped does not mean your PLAN flopped. It is just one element of execution. Test. Experiment. Measure results. Adapt. But stick with your “vision”.

    Above is just my view. I would welcome comments, questions and maybe, if you want to contribute, write me and I will gladly have your article posted up here.

    Some resources:

    Great marketing articles – http://www.versacreations.net
    Good copywriters – http://www.writingthoughts.com; http://essentialkeystrokes.com/
    Good designers – http://randaclay.com; http://davidairey.com

    Comments (2)


    Crawler tracking tool for webmaster-script de r�f�rencement - Outil de suivi des robots pour webmaster