Archive for September, 2007

10 Effective Tactics to Build Your Startup e-Mail List

Friday, September 21st, 2007

Having a comprehensive e-mail list is one of the key challenges faced by many startup businesses. This list will help you promote your products or services in a very practical way and kick off your prospecting initiatives. Here are some basic tips you can apply without spending too much money:

Online Tactics

  1. Include a sign-up form on every page of your website and place it where online visitors can easily see.

  2. Use a call to action to motivate online visitors to sign up. Support it with freebies or coupons.
  3. Add an “Email to Friends” option with every interesting article and press release you post on your website.
  4. Make the subscription link a part of your email signature and ask all your employees, family members, and friends to add the link to their email signatures as well.
  5. Submit articles and press releases to several online article and PR directories and include the subscription link at the footer.

Offline Tactics

  1. Put a subscribe link in your invoices and receipts.

  2. Gather email addresses during trade shows.
  3. If you have the postal address of your existing customers, send a card or catalog and request to join the e-mail list to get more interesting information and big discounts.
  4. If you are running tri-media ads (TV, radio, and print), prompt your customers to visit your website and subscribe.
  5. If you have extra money, conduct a free enriching seminar and the only entrance fee is an email address.

According to MavenBlog, having a database is just one of the 7 fundamental must-do’s of a small business marketing strategy. Read the other 6 to complete your strategy.



How to Network Online

Friday, September 21st, 2007

The online world made it possible for me to become a full-time freelancer. All of my clients come from outside of my home state. Here are examples of where I met clients and people online:

Through blogs (especially in earlier days). We bloggers left comments or sent emails to each other. Over time, we learned about each other and became friends.

Through an interview. I found the client because I interviewed (by email, of course) a co-worker of his who connected us.

Through referrals. Two other clients come from referrals from someone I met on the Internet - one through his blog and the other from working on a Web site together. An online networking group, also brought in more clients and friends.

Through searches. One gig came from the editor’s using the search engine to find me. He did a great job because my experience fit well with what he needed.

Obviously, the Internet offers many routes for meeting people and finding gigs (emphasis on gigs as the chance of finding a full-time job is only about 8% as reported in a career-related column). The following lists ways to meet others online:

  • Blogs: Leave a comment and link to another person’s entry from yours.
  • Forums and email mailing groups: Join discussions.
  • Email newsletters: As an editor, I respond to all reader emails and survey feedback.
  • Online groups: Mailing list and forum discussions.
  • Web site: One that’s content-rich and frequently updated (this is where a blog or blogging-tool can help).
  • Emails: Contacting people. Compliment a writer on an article. Congratulate a business on a recent success.
  • Articles: One of my first freelance gigs came from a guy who contacted me based on an article I wrote. There, I met another editor and we recently connected and helped each other.
  • Chats: You might attend a chat where there’s a guest. Usually chats are secondary — meaning you meet the person some other way before you talk in instant messenger.

You never know who you’ll meet through the Internet. Interact with the virtual world — you never know who you meet.

About the author

Meryl K. Evans is the Content Maven behind meryl.net, helping companies build relationships with clients and prospects through content.



Persistence in following up with clients

Friday, September 21st, 2007

SitePoint Newsletter and forums have an interesting discussion on clients who don’t respond or are slow to respond. Most businesses can count on running into clients who don’t respond or respond slowly.

A client wanted me to write his web content and we went back and forth on that. She asked for samples, I sent them. She asked questions. I replied. The next step was for her to get all info together that she has available and send that to me. Still waiting. In normal circumstances, I’d follow up with the client every couple of weeks. However, this isn’t a project high on my list so I haven’t pushed it. My choice. If the client follows up, I’ll be ready and willing.

Over the last few years, I’ve worked with a few web designers to get my web site updated. Almost every single one of them stopped following up in spite of my sending messages every few weeks. The job was theirs to lose. But perhaps, they felt the way I did about the aforementioned client… not a high priority project. That’s OK. Rather than leaving me on hold (since I was waiting on them), I’d appreciate their letting me know they can’t do the project so I can find someone else.

I read an article somewhere about a freelancer in the same boat. She continued to follow up and she continued to market with her email newsletter. Eventually, the client did call her and hire her. She stayed in his mind with her email newsletters. Sometimes the timing isn’t right. Keep your eyes open for business opportunities even when you have a full load because you never know when a great opportunity comes along. Besides, by the time the client is ready, you might have finished a couple of projects and have a lighter load.

Keep working, keep marketing, and keep following up.

About the author

Meryl K. Evans is the Content Maven behind meryl.net, helping companies build relationships with clients and prospects through content. She is the author of Brilliant Outlook Pocketbook.



Company Cash Flow Improvement: 4 Steps

Thursday, September 20th, 2007

A positive cash flow is very important to our daily operations. However, a major stumbling block to attain this is the collection of accounts receivables. There are different ways to handle collection, ranging from friendly calls, automated email reminders, warning letters, and referral to debt collection agencies.

Don’t let yourself run the risk of not getting paid. Use a more proactive approach. Below is a simple step-by-step guide to improve your cash flow and reduce uncollected debts:

    Step 1. Know the payment policy of the other party. This will help you validate if this is acceptable on your part. Usually it is 30 to 60 days, but in some cases it takes as long as 90 days. Negotiate right away if the terms are not acceptable to you and propose a new one.
    Step 2. Request for a deposit. Try to get the other side to make a partial or whole upfront payment. While the percentage varies from industry to industry, you should always try to bring up this matter to help minimize your overhead expenses and ease the stress of having to wait 45 to 60 days for payment.
    Step 3. Put it in writing. Make your agreements formal by drafting a legal contract covering the details of any project. E.g., agreed price, delivery lead time. This will serve as your bible for the duration of such projects.
    Step 4. Offer discounts for early payment. If you really need payment badly, to shore up cash flow, you could offer a small discount to your clients in return for earlier payment. Some customers might agree to pay sooner if they’re getting an enticing percentage discount.


Boxing as Stress Reliever for Entrepreneurs

Thursday, September 20th, 2007

Looking for a great way to relax after a stressful day? Why not try boxing? There are 3 reasons why you should pick boxing over other sports like tennis or basketball:

  • Total workout. Boxing training strengthens all your muscle groups in your body, builds your stamina, improve your coordination, flexibility, speed, reflexes, and cardiovascular fitness.
  • Improves competitiveness. Competition improves our mental toughness to do whatever is necessary to win and survive in any situation. This is a valuable lesson every entrepreneur can get from boxing. You get to learn how to focus and not being affected by the performance of your competitor. Also, you will notice improvements on motivation, self-esteem, and composure under extreme pressure.
  • Learn self-defense. Other sports like basketball or tennis can help you lose weight and tone your muscles. Boxing gives you all those benefits, and at the same time you learn how to protect yourself against any physical danger - should the need arise.


2 Tips to Free Your Startup from Fear of Failure

Thursday, September 20th, 2007

Have you ever felt that your negative thoughts control you? Running our own business is a can, for some, be a rollercoaster ride filled with challenges, fear, and possibly depression. Some have risked all their savings only to end up in total dismay. Survival is an everyday test. If you find yourself filled with these thoughts, here are some tips to restore your courage:

Prepare and Repair

List the worst things that can happen to you once you failed in your venture. Common fears among us are bankruptcy, as well as putting the lives of our employees at risk. Once you have a list, start crafting your contingency plans. Knowing you are well prepared can help regain your courage.

Relax and See a Movie

Sometimes watching movies is a good courage booster for many entrepreneurs. For starters, try renting the movie 300. Filled with bloody action scenes, this box-office movie exemplifies courage against a seemingly formidable force. Imagine fighting thousands of an opposing force with only 300 well-trained soldiers! Other similar movies include The Gladiator, Braveheart, and The Patriot.

If movie is not your thing, try reading about different courageous personalities like Mahatma Gandhi, Martin Luther King and the simple act of defiance by Rosa Parks.



2 Simple Ideas to Help Entrepreneurs Convince Customers

Wednesday, September 19th, 2007

There are numerous ways to convince your customers to patronize your products. When dealing with your online and offline customers, what you say is as important as how you say it. For instance, Landing the Deal talks about using the hypothetical situation technique to persuade someone to do what you want them to do. Below are other different techniques you can combine to convince your dear customers:

Storytelling

We talked about storytelling recently and how our minds are conditioned to be easily stimulated with a good story. When dealing with your prospective customers try to share some real success stories and if possible show some testimonials from these people. You might also set up a bulletin board of testimonials in your office and on your website.

Scarcity

Our fear of losing something is a very good motivator. Use deadlines and that classic yet powerful phrase “limited offer only”. A common mistake made by some entrepreneurs is not going all the way with this approach. You should make your threat credible to your customers by either increasing the price of your product or pulling it out of the market temporarily. You can always have a come back in a “due to insistent public demand” approach.



Disaster Planning Tips for Your Small Business

Wednesday, September 19th, 2007

Disasters are not part of our daily survival, but they do happen - in nature, and in business. Be proactive and have a disaster recovery plan ready, especially in terms of data redundancy if you are an information-intensive business.

Some entrepreneurs mistake disaster planning as a tool for big companies only. On the contrary, small business should take disaster planning more seriously because most of us do not operate in several locations. It means all our resources can be destroyed by a single disaster - be it a hurricane, fire or something else. The big companies, on the other hand, can simply transfer to other locations. In general, the cost of preparation is a lot cheaper. Below are some of the things you can include in your scenario planning:

Make a Disaster List

Brainstorm with employees, disaster planning experts, and if possible the local fire department. Identify all possible problems you might encounter given your location and the nature of your business. Once you identify the most probable disasters, create detailed plans and more importantly, run monthly drills to familiarize your people.

Backup Your Documents

Every business keeps information such as sales report, inventory levels, financial statements, and other important transactions. In some cases, entrepreneurs also leave their personal documents in their office. What you should do is to have a backup of these documents in both hard and soft copy. Here’s a checklist:

  • Tax returns
  • Credit cards
  • Personal and business insurance policies
  • Contact information of your suppliers and other partners
  • Bank statements
  • Employee records
  • Medical records
  • Legal documents like power of attorney and supply contracts
  • Financial statements like Balance Sheet and Income Statement


Exploring Telecommuting Option in Your Company

Wednesday, September 19th, 2007

Telecommuting, also known as working from home using an Internet connection, is growing business trend. Entrepreneur Daily mentioned that 73 percent of remote and home-based workers said they’re satisfied with the company they work for. There’s also a Senate Bill focused on telecommuting for SMBs (Small/ Medium Business).

The question is, are you ready to implement this system in your own small business? To help you answer this question, let me lay down the advantages to your business of telecommuting:

4 Major Advantages

  • Savings. This is in terms of real estate cost and other office-related materials like heating, cooling, and lighting needs.
  • Safety of employees. With thousands of traffic-related accidents and fatalities happening every single day, your employees are more safe compared to commuting employees. On the business side, it means lower hospitalization expenses.
  • Increased productivity. Because there is no need to endure the stress related to commuting like heavy traffic, your employees have more energy to handle their work. It will also give them an opportunity to balance their time between work and family. Moreover, less stress means healthier employees, which in turn means lower medical expenses and lower employee turnover.
  • Tax deductions. Many home offices qualify for tax deductions on the cost of “upkeep” of the rest of the dwelling. Check with an informed accountant.
  • Who Should Telecommute?

    Not all employees in your business can take this option. Commonly, this system is applicable to writers, salespeople, researchers, public relations professionals, and architects. With the use of VoIP technology, even phone-based tasks can be outsourced.

    Qualities Needed

    Even if your employees are technically qualified, you should assess first if they have adequate self-discipline to deal with any distractions at home, the ability to make their own decisions on small matters, and enough drive to deliver results.



    Break All Comfort Zones in Your Business

    Tuesday, September 18th, 2007

    Who’s the man behind the success of Apple Inc.? Maybe 9 out of 10 will answer Steve Jobs. It is very reasonable because Mr. Jobs is in charge of overall marketing. Business Pundit, however, mentioned Steve Wozniak, co-founder of Apple, and how he is such an inspiration to entrepreneurs.

    What struck me from that short but very insightful post is the idea of trying things you’ve never done before. How about you? Have you tried something different in your small business lately? Or are you afraid to change what you’re doing right now? Maybe it’s time for you to expand your business by stretching outside your comfort zone.

    The longer you are in the business the more you become careful not to make any mistakes and stick to the conventional methods. However, it will be very difficult for you to gain new customers and expand further. In case you find yourself in this situation, just follow the valuable lesson from Carly Fiorina, one of the most powerful women in corporate America:

    In bullfighting there is a term called querencia. The querencia is the spot in the ring to which the bull returns. Each bull has a different querencia, but as the bullfight continues, and the animal becomes more threatened, it returns more and more often to his spot.

    As he returns to his querencia, he becomes more predictable. And so, in the end, the matador is able to kill the bull because instead of trying something new, the bull returns to what is familiar. His comfort zone.




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