Small Business Tips

June 9, 2010

Local SEO Tips for Small Businesses

Let’s face it; the average business owner has neither the time nor the inclination to learn the nuances of search engine optimization. When I was first introduced to the concept of search marketing, I spent endless hours researching forums and blog trying to separate the signal from the noise. There’s no shortage of information and advice for business owners out there in theinterwebz , but finding trustworthy and reliable sources is another monster entirely. I would estimate that I invested hundreds of hours researching reliable sources ofSEO and SEM information, and I am thrilled to this day when I discover new ones. This can be a daunting prospect for a small business owner, regardless of their current level of marketing knowledge. I know when I was trying to grow my first small business, I barely had time to eat and sleep…much less surf the web for hours on end.

The real key to local search visibility is to recognize that your location is your brand. In most cases, searches with local intent rarely reflect brand terms. In the research I have seen, most local searches are industry and/or service based with geographic qualifiers. For example, “boston emergency plumber” or “san diego pediatric dentist” are more likely to be searched for than “city name + your business name”. If people are searching for your business by name, that’s great! You’ve done a great job establishing your brand! But if your sole focus is on brand promotion, you are missing out on some great opportunities to develop relationships with new customers in your area. Recent research has shown that almost 40% of allinternet searches are local in intent. If you want to maintain a lead over your competition, now is the time to take action. The following short-list of actionable items will help get you started:

1. Get listed at all of the major local search engines and telecom directories. Start with Google Local and Yahoo Local. There are also services such as UniversalBusinessListing.org which facilitate your submissions to such sites for a minor fee. If you don’t have the time to manually submit your listings, this is an excellent option.

2. Get links from related local sites, industry associations, and the chamber of commerce. One thing to keep in mind is the importance of anchor text; the clickable words that link to your website. Ask your business partners to link to your website using the phrase you want to rank for as anchor text (ie. “boston emergency plumber”, if you are a plumber in Boston). You could even incentivize your suppliers to link to you in exchange for a discount, as the value of the links gained will far outweigh the short-term costs of discounting.

3. Get reviews from customers and/or suppliers. If you go to Google and do a search for “your industry +reviews”, you should come up with a decent list of sites that contain reviews of businesses like yours. Naturally, some industries are more popular than others. If you don’t find one related to your industry, consider it an opportunity and start your own review site ;) To continue with the discount idea noted above, why not give your customers a discount for a favorable review? Note that businesses can be given reviews directly on Google Local, but you also want your reviews to appear on reputable third party sites like Yelp.com (for restaurants), TripAdvisor.com (for hotels, etc.) or RateItAll.com (for general consumer products).

4. Consider the impact of universal search. Universal search refers to the use of non-traditional media in standard search results. Search engines generally serve up hypertext search results. With the introduction of universal search, Google now serves up video, photos, news, etc. in addition to hypertext. Get your geeky nephew to help you produce a video for Youtube. Take some funny photos of the hijinks in your office and upload them to Flickr. Ask one of your industry bloggers if you can contribute an article to their site. Submit a press release. Write an article like this and syndicate it. The opportunities are endless, if you are motivated.

Jacob Davidson is happy to share his new found knowledge of search engine marketing with other small business owners. When he is not trying to stay abreast of the latest marketing and advertising techniques, he spends his time exploring the local yellow pages for new business leads.

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June 5, 2010

10 Myths About Small Businesses

Owning a business means you will have more free time.
With this myth, the exact opposite is usually true. Nearly all-new business owners find that they actually have much less free time when they open a business – especially in the beginning. Yes, your schedule will be more flexible but it will not be lighter. Being a business owner is more of a life style than a job. If you are going to be successful, you will probably need to dedicate most of your time to it.

You should not worry about a business plan.
People often mistakenly think that if they do not need to secure funding for their business, it means they should not worry about a business plan. Technically, you do not need a business plan in this situation, but you should still compose one for your own purposes. Creating a business plan will allow you to research your industry, organize your thoughts, and set your long-term goals.

To get customers you need to be cheaper.
New business owners frequently think that they need to have the cheapest prices if they want to get customers from competition. This is anything but true. Look at stores like Macy’s or Nordstrom’s – they do not have cheap prices but still attract customers. You do not necessarily want to overcharge your customers, but do not take a loss in order to offer cheap prices.

If you cook well, you should open a restaurant.
How many times have you overheard someone saying, “Wow, you are a good cook. You should open a restaurant”? Little do they know that opening a restaurant requires a lot more work than just cooking the food. As any small business owner will tell you, there are dozens, if not hundreds, of hurdles to opening a business. Then, after opening the restaurant, business owners typically end up hiring a chef and focus entirely on operating the business.

Good friends will work well together.
Every year, friends forming partnerships open hundreds of new businesses. Unfortunately, just because you are good friends with someone does not mean you will work well together. Forming a partnership with another person is a huge commitment. You need to be 100% sure that you will be able to work together before you take this big step.

Failure is the opposite of success.
In life we are all taught that failure is the opposite of success. However, the opposite is true when it comes to small businesses. Failure is actually an essential part of success. When you open a business, you are embarking on a new journey, and you learn through trial and error. It is unlikely that any business is going to be immensely successful from the start. There are going to be failures and bumps along the road.

Watch employees closely or they will slack off.
As we mentioned in last week’s tips for managing employees effectively, you cannot expect your employees to be productive 100% of their shifts. By allowing employees to have some time to breathe they will be more efficient when they are working on a project. The last thing you want to do is cause employees unnecessary stress by breathing down their necks.

If you build it, they will come.
Small business owners often invest all of their money into opening their business and forget to save funds for marketing purposes. People think, “if I open my store, people will naturally just come in off the sidewalk.” Uh, not true. You might get a few walk-ins if you have a great location, but it is essential to advertise your business if you want to attract new customers.

You can write-off everything.
Too many people learn this myth the hard way. If you take too many business deductions it sends a huge red flag to the IRS and could cost you thousands in unpaid taxes and fees. A general rule for write-offs is to ask yourself, “would I make this purchase even if you did not have a business?” If the answer is yes, then the item you are purchasing is probably not a business expense.

The customer is always right.
This is one of the oldest – and most incorrect – myths about running a small business. No, the customer is not always right. In fact, they are frequently wrong. If you always tell customers they are right, then you can wind-up losing thousands of dollars to customers who take advantage of you. There is nothing wrong with correcting a customer who is in error. However, you always want to be polite and professional in doing so.

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May 24, 2010

Finding Small Business Grants

Poor financing is the number two reason small businesses fail, falling right behind poor management. Sufficient funding is paramount to the success of small businesses, and small business grants can be the answer to the problem. If business owners have the necessary knowledge about how to find and properly request grants, they have a better shot at creating a successful business that will be open longer and prosper.

There are over 300 different grants and loans available for small businesses that are just starting out. The grants range from $25,000 up to $1,000,000 depending on the size and projected success rate of the business. There are also grants available to help small businesses grow or expand. Grants are not the same as loans because they do not have to be repaid. A grant is considered free money, as well as an investment to promote the success of small businesses and the U.S. economy. Money for grants comes from income taxes. Obtaining a small business grant does not require credit checks or deposits, even if the owners have experienced bankruptcy in the past.

There are a number of helpful websites that send small businesses government grant packages for free, excluding the cost of shipping. These packages include information on how to find grants, how to prepare a grant request, and how to apply for grants pertaining to a specific business. Some of the providers are Government Funding Solutions, Grant Master, and Grant Wizard.

It is important to be familiar with the Small Business Administration’s (SBA) rules for receiving grants before beginning the process of obtaining one. Although the SBA does not provide grants to small businesses, they do provide helpful suggestions and resources on how to find grants.

In order to qualify for a small business grant, individuals must first become familiar with the 13 CFR 143 document that lists all of the requirements to be eligible for a grant. This document includes information on the pre-award and post-award periods and defines all aspects of applying for a grant and states who is eligible. The CFR is the primary source of rules and regulations for small business grants and must be read before starting the grant writing process.

After reviewing the requirements, prospective business owners must write a grant request. There are professionals who will write a grant proposal or the individuals may complete it themselves. The Catalog of Federal Domestic Assistance is a helpful site that links individuals to resources about federal grants for small businesses. Afterschool.gov gives helpful tips on how to write a small business grant and, although it is geared toward grants for after school programs, includes helpful information for grant writing in general.

Additionally, there are many well-established government and private organizations that provide grants to small businesses. The Department of Justice’s Ten Grant document gives access to grant opportunities for those conducting research in support of law enforcement. The Department of Labor’s Employment and Training Administration has several grant opportunities for small business owners. They offer about $125 million to businesses that are based in a community setting with special attention to training programs. The Department of Transportation is another organization that offers small business grants. They offer grants to any business willing to help resolve the growing problems with the federal-aid highway program. The Department of Education has a program called e-GRANTS that locates electronic grants online. They have a detailed list of grants available and the necessary applications to fill out. There are a variety of grants available for different groups, all of which have detailed descriptions and contact information. Other organizations that provide small business grants include the EPA, the National Cancer Institute, NOAA, the National Endowment for the Humanities, and the U.S. Department of Health and Human Services.

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April 8, 2010

Starting An Online Small Business? Try These 4 Solid Online Business Tips

If you are starting an online small business, you are bound to get TONS of online business tips! The trick is to be able to sort out the PROVEN strategies and steps. Most likely these solid tips will come from experienced online business owners. The following are 4 proven tips that have withstood the test of time.

1) Create a Flexible Business Plan

Your initial business plan does not need to be long and elaborate. The length should be kept to between 4-8 pages, and should detail the company’s products and services.

Also, how the company plans to position itself in the marketplace relative to the competition, should be included.

The key is to make the plan adaptable to the changes that inevitably occur as a business takes off.

2) Stay Liquid

Fortunately, an online business is a relatively inexpensive business to start. However, care must be taken to preserve cash flow, as the business may take time to become profitable.

Ideally, a business owner should have enough cash put aside to pay ALL expenses for at least 120 days.

3) Hire Essential Employees In The Beginning

In some cases, an online small business may be run by a “solopreneur”. However, it may be determined that additional expertise may be needed from outside sources.

It is important that the business owner determine where that expertise will come from in the beginning, before they are overwhelmed with tasks they cannot handle.

The help could come in the form of virtual assistants, or outsourced help.

When starting an online business, it is important to envision how the company growth will influence the addition of new help.

4) Create A Focused Marketing Program

The marketing program should be a work in progress, although The creation of a website that clearly outlines the company’s products or services, is essential.

Also, the web copy should identify the unique advantages customers will have by doing business with the company.

Hopefully, these online business tips have helped in the successful start of your new online business!

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February 27, 2010

New Small Business; Tips On How To Make Your First Step

When you are starting a new small business you have mixed feelings of excitement and anticipation. You are excited at the prospect of making a difference in the business world with your product or service. You are also unsure about the way your business will be received by the consumer market. This is all very normal for the new small business owner. Always have a plan of execution.

Organize how much capital you need, marketing strategies and have a contingency plan. It is therefore very important that when you have started your business that you have done enough research on the market and your competition. Maybe you are introducing a whole new invention that no one else is doing. This can be even more nerve racking than an already existing business venture. If you are introducing a completely new product or service into the market, the results from your market research will guide you in the beginning stages.

It will give you an idea of what the customer wants, why they would need it and what they are willing to pay for it. For an entrant in an already existing venture, the already existing business will give you a clue on the way to go. You can talk to the owners, or if they are not willing to give you information, you could always pose as a customer. You will be surprised how much information that other business owners share with their clients. The way they handle their customers and any loopholes in their system will be known to you.

Use this to your advantage when you are running your new small business. Give the customers something your competition has not done or thought off. Cut a niche for yourself and give it your best. You will soon start reaping the rewards

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