Anita Campbell posted Five Reasons For Small Business Owners To Blog.
Pricing can be one of the most difficult challenges businesses face. Assuming that cost is the deciding factor in whether someone does business with them, many people simply choose to undercut the competition and price their products and services lower. This is a big mistake, as outlined in Wilson Ng's post Profits Straight to the Bottom Line.
Perceived Value: If price was always the deciding factor, we'd all drive a Kia.
If you look at the world’s most successful companies, whether it be BMW, Coke, Microsoft, Toyota, Apple, IBM, HP, Nestle, Starbucks, and others, you will find with utmost consistency that they are not the cheapest - and the definition of success is indeed that people pay a premium to do business with them.Maximize Profits: If price was always the deciding factor, we'd all eat at Taco Bell and shop at Walmart.
Success is when you can charge higher than competitor, and customers still want to do business with you. If you work for a company, would you define yourself as successful if you feel that you only got the job because you were willing to accept a lower salary than everybody else?
The success of Walmart is not about lowering prices. It is about their ability to lower their cost thus increasing their ability to lower prices. In short, don’t offer lower prices, unless through volume or efficiency, you are able to have a roadmap in which you are able to lower your cost.Ultimately, when determining your long-term pricing strategy, Wilson Ng encourages you to focus on 2 strategies: a.) increase the price that your customer is willing to pay you. b.) Look for ways to see how you can lower your expenses as a factor of per unit production, and if you can do that, then yes, it is a viable strategy to offer a lower price.
Just happened upon this cool web site for anyone who plans on traveling -- anywhere, for almost any reason. You can search for information by country, city, airport, and much more. What I found particularly interesting was the information on business travel and etiquette in various cities from Delhi to Edinburg.
http://www.worldtravelguide.net/
Any blog post with a title Brands are for Cattle that starts out with "Marketers are a bunch of flaky wimps," is bound to get my attention -- and fast!
I have to agree that putting the brand above the needs of the customer/buyer/visitor is a mistake.
Marketers who obsess about brand usually focus on aesthetics over buyers. They are more interested in the color scheme of the Web site than in meeting their buyers' needs with a content marketing strategy. They care about logos not buyers. They research color schemes instead of the market. Countless marketers got their knickers in a twist about the outward manifestation of an organization's brand--including logos, image ads, and tchotchkes—all at the expense of buyers and what they need to understand the company—especially the content found on the company’s site. Well, they are flaky wimps if that's what they do.But I can't put the blame entirely on the marketers; sometimes it has to rest with the client -- the site owner.
What's really at stake—in fact what branding's really about—is a focus on the buyer. As each buyer builds an emotional response to a company, that emotion becomes the brand-image for that person. Fortunately, some great marketers understand that the provision of quality Web content does more to build brand than pretty logos, cool Web design, and hip color choice.
Spring may be wedding season, but with Valentine’s Day, February is the month for love. And love is big business, especially online (and I’m not talking about porn – which is whole other online industry with huge profits).
Online Dating
40 million Americans use online dating services; that's about 40 percent of our entire U.S. single-people pool. You’ve probably seen the TV commercials for online dating services like Match.com and eHarmony. Just type “online dating” into Google and you’ll get 284 million results. “Christian dating” alone brings in 121 million results with sites like ChristianSingles.com, SinglesofFaith.com, and ChristianLoveNetwork.com. Whatever your passion, you're likely to find a singles group for it.
Breakin' Up is Hard to Do
What do Britney Spears and the Prime Minister of Finland have in common? According to the tabloids, they both broke up with their significant others electronically—via text message. Technology has brought wedding bells to many people’s lives, but technology also has had an impact on one of our most agonizing rites of passage: The break up (aka “e-dumping”). An estimated 48 percent of online daters report that their breakups have happened over email.
But if email or text messages are too direct, there’s a guy who advertises on Craig’s List that he’ll break up with your psychotic girlfriend for you for as little as “$50 and a 6-pack.” If you happen to live in Berlin, and have a romance you'd like to end, Bernd Dressler founded the Separation Agency to inform dumpees that their relationship is over. By the way, he’s interested in franchising to other countries.
Teen Communities
PewInternet.org reports that more than half (55%) of all online American youths ages 12-17 use online social networking sites like MySpace, Friendster, or FaceBook. A social networking site is an online place where a user can create a profile and build a personal network that connects him or her to other users. In the past five years, such sites have rocketed from a niche activity into a phenomenon that engages tens of millions of Internet users.
These online community sites aren't just for teens. Just look at the explosion of YouTube over the past 2 years, the interest in renewing lost connections through Classmates.com, and the desire to share and compare photos at Flickr.
SNS for Profits and Nots
Social networking sites have moved into the business world with sites like LinkedIn, and Ryze. There is growing evidence to support claims that some social networking services (SNS for short) can be powerful professional allies to businesses — in particular, independent entrepreneurs and smaller companies, for whom each new personal connection is a significant business building block. Now you can start a social network on your own web site with help from services like KickApps.com and CommunityServer.org.
After more than 12 years, actor Kevin Bacon has finally submitted to the popular college game “Six Degrees of Kevin Bacon” to create a new charitable social network, SixDegrees.org. You can join stars like Robert Duvall and Bette Midler in promoting your favorite charity or donate to one of theirs.
Albert Escalarte has put together a meta-list of social networking sites at the Social Software Weblog, where you're sure to find one that fits your interest. If not, why not start one and get listed?
For Love of Blogging
If you’re looking for a blog about love and relationships, just go to technorati and search for “love” in the blog directory and you’ll have over 140,000 to choose from; “love relationships” delivers over 1.3 million blog posts. They offer commentary on marriage, dating, family, children, hearbreak, being single, loving your job, how to love yourself, and nearly anything else you can think of to love. Today, over a million posts are referencing Valentine’s Day.
As you can see, virtual communities and cyber dating have evolved from guestbooks, email and forums to much more dynamic villages where people are introduced, get to know one another, and develop real relationships.
The Internet is a powerful force for connecting. How will you leverage that power to build your business? Whole Brain Technologies can help.
Whole Brain Technologies: Smarter solutions for business on the Web.
Cartoon Network: the next logical step? Click here or on the image to read the article.
Thanks Nedra Weinreich and her Social Marketing Blog for this.
Love is in the Air and on the Web
That's the theme for the February issue of Brainstorm! - Whole Brain Technologies' monthly e-newsletter. It has a new look, to go along with the new design of the web site, and lots of new information:
If you'd like to spend your money and do something good at the same time, The $avvy Giver is definately a blog you have to visit time and time again. Joe Waters gives information on a string of great charities that offer ways to spend money on things you'd probably buy anyway - like an iPod, cell phone, coffee, chocolate or Home Depot gift cards - while supporting a worthy cause.
And while you're at it, stop by Joe's campanion site - Selfish Giving - for information on cause-related marketing (CRM). Did you know that a recent IEG study finds that cause marketing spending totaled $1.34 billion in 2006 -- an increase of 7.5% -- and is expected to reach $1.44 billion this year? It's true. This is one of the hottest ways to partner for-profits with nonprofits in a win-win relationship. And be sure to check out the blogroll for more info on CRM.
Let go by IBM and deeply in debt, a family man turned his childhood passion for unicycles into a thriving online start-up. Then he added a banjo business.
MSNBC/Newsweek: How I became a Big Wheel
I've been wanting to post this for awhile now, but just didn't have the time. Other more pressing issues have come up, like Tami Gosnell's American Idol progress on my Pedicab Blog.
Guy Kawasaki has some great tips on how to get the word out about your blog. I think one of the biggest and most difficult things is to write lots of content on your blog even before you start telling people about it. Blogging can be tough when you think you're just writing for yourself and no one's paying attention. But it's important that people see your content and style so they can decide to add your blog to their feedreader.
How to Change the World: The 120 Day Wonder: How to Evangelize a Blog
A group of us are starting a 501(c)6 not-for-profit association for Denver pedicabs. I just need to say, "I hate writing bylaws!" Anytime you start a new business, the paperwork is always the worst part. I know, that's what you pay an attorney and an accountant for. They seem to like headaches like this. But no matter what - bylaws, business plans, financials - some of it you just have to do yourself.
Blegch! I feel better now. Just had to get that out of my system.
Last week we were up late watching The Tonight Show. Jay Leno's first guest of the evening was Bill Cosby, a man I'd grown up with - I Spy, Fat Albert, The Bill Cosby Show, Cosby, etc. I hadn't seen him in awhile, but knew I'd be entertained by his wit and charm as always.
I was amazed by his storytelling as he talked about his first time in a really hot car (Selene Mustang). You probably know that Leno is a car fanatic.
I knew that if I tried to tell the same story it would take me less than 60 seconds - and anyone who knows me knows I can talk. But Cosby talked for at least 4 or 5 minutes with all the great facial expressions and sound effects that are hallmarks of the Cosby style. Laughing so hard, we were nearly rolling on the floor along with Jay Leno.
So here's the lesson: We all need to be great storytellers. People relate to stories. People respond emotionally to stories. People are more interested in what you can do for them than how wonderful you are and stories are a great way to tell them.
You know the story of your business and the stories of your clients better than anyone. How can you tell those stories so people will listen? What opportunities do you have to tell your story?
If you're looking for a new 30-second commercial to use at networking events, why not think about a story you can tell? If you just tell the beginning of the story, they'll be intrigued to ask for more. For example, when someone asks what I do or what my business is, I might say something like, "I got a phone call the other day from a woman who had spent a lot of money on her web site but she was really frustrated because nobody is showing up? In my business I find solutions for problems like that. Do you know anyone like that?"
What stories can you come up with about your business that would encourage people to ask for more? What problems have you solved? What is interesting or unique about what you do?
Do you share your stories on your web site? In articles or on your blog? In brochures? In classes or presentations?
I don't really know if Bill Cosby's story is true or not, but I'd like to believe it is. Somehow now I feel like I've been included in his life - at least vicariously. And if I ever get in a Selene Mustang, or any other really loud, really fast car, I'll remember that story -- and smile.
Statistically, nonprofits perform poorly when it comes to using online communication to keep in touch with their donors and other stakeholders. Even now, the majority of nonprofit web sites fail to collect email addresses from visitors. Blogging may be a bit beyond many nonprofits, but if used correctly, can be a great way to get the message out about your organization.
Bob Johnson offers some ideas for using blogs to boost nonprofit interest. And be sure to check out Nancy Schwartz's web site and add her blog to your Feed Reader. I did.
By the way, all you nonproft consultants out there (including me) may be interested in the Carnival of Nonprofit Consultants (Kivi Leroux Miller) where you can submit your best blog posts for nonprofits.
I was thrilled to read this post by Lee Odden. Finally, someone else embraces the holistic approach to business and the web and the power of integration. It's always seemed obvious to me that everything needs to work together, and a challenge to segregate all the little pieces. I'm just a big picture person, I guess.
http://www.toprankblog.com/2007/01/seo-for-newbies/
Everyone likes getting something for free. So how would you like to get Seth Godin's book "Small is the New Big" for free? All you have to do is visit his Squidoo Lens and download a new chapter each week. You'll also find some added bonuses.
Cool huh?
http://www.squidoo.com/smallis/
If you want to just buy it outright...
Small Is the New Big: and 183 Other Riffs, Rants, and Remarkable Business Ideas
If you're a small business, I'm certain you've faced some of the employment trends/challenges highlighted in this blog post by John Mariotti. And if you're thinking about starting your own small business, you might get a clue about what holes you can fill by looking at the tips for solving some of these dilemmas.
And in another post, highlighting a study by Intuit on the Future of Small Business, you'll see diversity, the rise of personal business, and growth in entrepreneurial education topping the list of trends.
And while you're there, Craig, take a look at the Pet Industry Trends for your awesome gourmet pet food and treats business - Colorado Pet Chef.
In a recent post, Guy Kawasaki references a Babson College study on alums who started businesses with and without business plans. Their findings may fly in the face of popular business [training] thought - and a lot of business planners may be unhappy. "...the study found no statistical difference in success between those businesses started with formal written plans and those without them..."
So the basic recommendation is that you not spend hours and hours on a formal written business plan unless you're going for money - like investors, loans, capital, etc. It can serve to improve communication and get your team moving in the same direction. I think the most important statement was, "A great plan won’t make a lousy idea successful, and a lousy plan won’t necessarily stop a great idea."
I've seen too many great ideas get bogged down in over-planning, over-thinking - what some people call analysis paralysis. For some folks, planning is safer than actually doing. There's real risk involved in starting a new business. You have to put your whole self on the line. That can be a very scary proposition.
Granted, I'm generally an early adopter who jumps in quickly (although age and experience has tempered that impulsive urge a bit - just ask my mom). I've learned to spend a little more time researching and analyzing the challenges and opportunities. Guy's recommendation to keep your business plan short and not spend more than 2 weeks on it fits perfectly.
After being involved in the start-up of several successful businesses (none with formal written business plans), I say "go for it!"
In his blog, Seth Godin asks the important question: "Which are you?" It's much better to be a "the" than an "a". Are you A realtor or THE realtor? Are you A salesperson or THE salesperson? Whatever your profession, strive to be THE, not A.
Whether you're a nonprofit who wants some insight into how to do it better, or you're just interested in finding a high-quality charity to support, you definately need to check out this list of the 59 Smartest Orgs Online. There's a lot any for-profit business can learn from the examples on this list. Learn to tell a great story and you'll win people over. If you're looking for a new way to reach your constituents, donors, clients, buyers, you may get some ideas here. And after you've spent time reviewing the online presentation of these nonprofits, vote for your favorite.
