There’s no perfect way to make a business; there will always be an element of randomness involved. Sometimes one worker’s procrastination can bring production to a grinding halt, but on the other side of that coin, the grinding halt might lead to a decade of success. There’s no one-size-fits-all approach that will work for every business, but there are a few important tips that every small business owner needs to know to be prepared for the difficulties that may lie ahead.
Know Your Market
The average person isn’t fully aware of how important their market is to their success. They might not realize that half of their sales come from married couples. They might be wasting advertising dollars by trying to appeal to kids, seniors and singles. They might have demographic confusion as well though, as sometimes even two very similar products have a completely different target market. Always be prepared to analyze patterns in customers, as demographic data might be the single difference between success and failure.
The average consumer is bombarded with ways to spend money, and because of this, the best way to make a lasting impression is to stand out. Advertising blindness develops quickly, as advertisers learn new ways to attract peoples’ attention, copycats will inevitably catch on to the advertisers’ discoveries. What was once a fresh approach to advertising becomes run-of-the-mill to consumers. Always stand out from crowd.
Customer, Merchant and Supplier Relationships
Businesses need healthy relationships to thrive. Great customer relationships lead to word-of-mouth advertising, long-term customers, great reviews, higher profits and a high-quality business environment. With all those benefits, it’s hard to believe that more businesses aren’t focusing on customer relationships. Merchants and suppliers follow the same trend. Better relationships with re-sellers, business energy providers and product suppliers will lead to a long list of benefits. Small businesses need to foster these relationships in order to reach their maximum potential.
Be Prepared to Push
Hard work isn’t always a necessity, but when it is, many business owners aren’t ready. They haven’t spent enough time pushing themselves, and when it’s crunch time, they fall short. By then, they’ve spent too much time slacking, and their bad habits will carry over into the moments when there’s no more room for slack. Even if hard work isn’t required, work hard anyway. It’ll be worth it down the road.
Supply and Demand Can’t Be Ignored
The true deciders of success are supply and demand. If the material cost is higher than the price that people are willing to pay for the finished product, there’s no way to magically make people start buying. There’s no deceptive marketing trick that will convince them to spend their hard-earned money on something that they don’t truly demand. This fact should be enlightening, as it’s the simple heart of economics. There’s always success to be found in demand, and some businesses might just need to focus on what people would buy in a heartbeat.
The lack of certainty involved in success is a part of business that must always be respected. Accidents will happen, mistakes will be made and failure will sometimes be unavoidable. The only way to ensure success with a small business is to accept these truths and be fully prepared for them. The confident business owners are the ones that know randomness is coming and have made themselves ready for it.
“If your customers use video in every facet of their life why are you using text to market to them?”
Have you ever asked yourself this question – how many times do you watch a video in your day-to-day life?
We go online to watch videos in all forms – news, sports, events, commercials, films and more. Even when we are at work, most of our communication happens through video ex Skype etc. The internet world has become a virtual platform where visual communications is becoming easier every day. We even download movies on to our computers and smart phones. We get our favorite entertainment content –not all of it but – a lot of it is on YouTube and a lot of it is obviously through shorter clips, video snaps, versus long form programming.
In fact, Google is putting more online video ads as part of their PPC management. We are going to see a lot of pre-click videos where you can watch a video of a customer which is essentially an ad of what someone does before clicking on a site.
The point is, if all of this is surrounding us, then why market using text. If video is involved in every aspect of our lives, then sooner or later we would not respond if we are “marketed to” using text.
At Small Business Pool we create professional online video campaign coupled with social media marketing. We help you visualize your objective into a professional online video with quality content and creative visual treatment, which will give you the required edge in the market.
A professional online video campaign coupled with social media marketing results in far greater potential than videos posted without a marketing effort behind them.
We do: Corporate Videos, Video Resumes, Training Videos, Event Videos, Commercials & Viral Marketing Videos.
A couple of years ago, Mark Hunter watched his savings disappear and credit card bills swell when Hollywood shut down during the writers’ strike. It took a while for Mark, a full time feature film writer, to return to work. In the meantime, his wife had given birth to their first child, and he was already $50,000 in debt from starting a film casting business. Instead of heading to the nearest bank to apply for a loan, Mark, 36, went online. He entered the relatively new world of “social lending”, in which borrowers get money directly from individuals, with an online company acting as an intermediary.
Small businesses & Entrepreneurs are finding it extremely tough to get loans from mainstream banks, despite the banks agreeing to help kick-start the economy by assisting fledgling firms. But while the banks are still closing their doors, some Entrepreneurs are finding the vital cash they need online through the growing phenomenon known as social lending or peer-to-peer lending.
Social Lending mixes the concepts of online social networking and eBay, and has found a niche given the current economic and credit crisis. The much more streamlined peer-to-peer lending process leads to borrowers generally getting better interest rates than they can from banks.
How it worked for Mark
Mark went online and signed up on websites such as Zopa, Lending Club, and Prosper and secured a $20,000 loan at a 15.76% interest rate, which is far better than the 18% rate he’d been quoted when applying for a bank loan a few years earlier. His loan is funded by 343 individual contributions.
The way to look at it is really taking out the middleman.
Hal 9000, the creepy supercomputer from the book and movie “2001: A Space Odyssey“, was Arthur C. Clarke’s most famous fictional character and most recognizable icon from his long body of work. HAL (Heuristically programmed Algorithmic computer) is an artificial intelligence that interacts with the astronaut crew of the Discovery One spacecraft, usually represented as a red television-camera eye found throughout the ship. HAL 9000 speaks in a soft voice and a conversational manner, in contrast to the crewmen, who speak tersely and with little emotional inflection.
The film 2001: A Space Odyssey presents a vision of the “paradigm shift“. The film is about progress, the development of technologies that precipitate paradigm shifts in human life and relationships. Similarly, 2012 is the year of the “paradigm shift”. We will be seeing a dramatic change in methodology or business practice. The year will bring a major change in thinking and planning, which ultimately changes the way projects are implemented and executed.
In our day-to-day lives you can forget about those Eureka moments. Rather, innovative ideas often result from a series of small hunches coalescing over time. Important innovations in the economic crisis and volatility in the past led to significant changes in management control and Social Affairs. Paradigm shifts can require that entire departments be eliminated or created in some cases Paradigm shifts have become much more frequent in the past hundred years. This process is likely to become even more commonplace in the year 2012 as our rate of technological advancement increases. The year 2012 brings forth the possibility of thinking beyond the traditional or set pattern of problem solving.
Argentina was once famous for its bureaucracy, but now if you take the time to sit down and have a cup of coffee with someone then the doors open magically. It’s a country with a complicated history so people are used to helping each other out.
Their motto is simple
“I do this for you and you do this for me and together we form a human chain to help each other out”
In the words of the newly elected prime minister of Spain, Mariano Rajoy, “1,200 young Spaniards are immigrating to Argentina each year”.
The figures might sound a bit exaggerated but a mass migration of young Europeans is nevertheless clearly evident in the streets of Buenos Aires. Most of them come from Spain and Italy but some are from Britain. The large majority of young Europeans in Argentina work under the radar of the Migrations Department, residing as students or travelling back and forth to neighboring Uruguay to renew their tourist visa every three months. But figures for official residency permits for Europeans have about doubled in the past five years, to a projected 2,000 for this year.
What do Entrepreneurs feel?
A lack of adequate financing is often seen as a cause of economic stagnation for businessmen and entrepreneurs, but in Argentina it’s more a symptom of something graver: persistent uncertainty and instability. “Money is not the problem,” says Zoltan Acs, a professor of public policy at George Mason University in Virginia. “The problem is, Does the country reward people for effort?
Acs says that nonprofits like Endeavor Argentina, which provides free legal and accounting advice to entrepreneurs and connects start-ups to more established companies, have helped. But in Argentina, even the most successful entrepreneurs are never entirely sure how safe and secured they are.
However, Buenos Aires still continues to be a favored option for the young and the restless:
It is the commercial, financial, industrial and cultural hub of Argentina. Its port is one of the busiest in South America; crossable rivers by way of the Rio de la Plata connect the port to north-east Argentina, Brazil, Uruguay and Paraguay. As a result it serves as the distribution hub for a vast area of the south-eastern region of the continent.
The city’s services sector is diversified and well-developed by international standards, and accounts for 76% of its economy. Advertising, in particular, plays a prominent role in the export of services at home and abroad. The financial, business and real-estate services sector is the largest, however, and contributes to 31% of the city’s economy.
Viral marketing describes any strategy that encourages individuals or a business to pass on a marketing message to others, creating the potential for exponential growth in the message’s exposure and influence. Like viruses, such strategies take advantage of rapid multiplication to explode the message to thousands, to millions.
The ultimate goal of marketers interested in creating successful viral marketing programs is to create viral messages that appeal to individuals with high social networking potential (SNP) and that have a high probability of being presented and spread by these individuals and their competitors in their communications with others in a short period of time.
Off the Internet, viral marketing has been referred to as “word-of-mouth,” “creating a buzz,” “leveraging the media,” “network marketing.” But on the Internet, for better or worse, it’s called “viral marketing.”
The Kolaver Di Example:
Why This Kolaveri Di (English: Why This Murderous Rage, Girl?) is an Indian song from the soundtrack of the upcoming Tamil film 3, which is due to be released in 2012. The song is fast becoming a case study on how viral marketing can create a cult following for a product.
It’s a classic case of ‘viral marketing’ gone wild, says brand expert Harish Bijoor about the far-reaching impact of the song. Why this Kolaveri Di. This quirky Tanglish (a portmanteau for Tamil and English) number, which became an instant hit as soon as it was digitally released by Sony Music India in the second week of November, has now entered the lexicon of one and all. Three weeks on, the song has received a whopping 19 million hits on YouTube, has been on the playlist of 43 radio stations across India and has been ‘shared’ by over 6.5 million Facebook users.
European small and medium sized enterprises (SMEs) should better profit from fast growing emerging markets, such as in China, India, Russia or in regions like South East Asia and Latin America. This is the key issue to overcome the crisis addressed in the European Commission communication ‘Small Business, Big World – a new partnership to help SMEs seize global opportunities’ presented today. The priority for Europe now is to overcome the crisis boosting competitiveness and growth. Major markets such as China, India, Russia and Brazil, with strong growth rates and potential represent significant opportunities for EU companies. Exports outside the EU to expanding markets could trigger new dynamism for European economy. Internationalisation is the step SMEs need to take and to seize these opportunities.
The objectives of the new EU strategy are
To provide SMEs with easily accessible and adequate information on how to expand their business outside the EU.
To improve the coherence of support activities.
To improve the cost-effectiveness of support activities.
To fill existing gaps in support services.
To establish a level playing field and provide equal access for SMEs from all EU Member States.
The Commission will play a crucial role in the coordination and governance of this process, also through setting up a periodic ‘SME Internationalisation Forum’ and with a specific focus on this topic at the regular meetings of Member States’ SME Envoys. In all these activities the representatives of the private sector will be involved.