Small Business Information You Should Know

What are small businesses?

Small businesses are businesses with less staff. The staff limit is different for different areas. These businesses are generally owned by individuals or are started in partnerships. Other criterion to decide small businesses are the turnover and profit. The less is the turnover or the profit, the smaller is the business. The smallest businesses are called as ‘micro businesses’ and those managed by families are called as ‘mom’s and pop’s business’. These smaller businesses generally have employees in number from 0 to 10. Many a times, the owners are the workers in these businesses.

Advantages in small business:

The basic advantage of starting a small business is that you need less capital and money to start the business. Also, one can start a small business on part time basis. The basics of a successful business are the regular modifications that one does to it. In small businesses these modifications can be easily done as one does not need to follow any trend or face any compulsions in small business unlike in big businesses. Also, a small business can give much more to its customers than a big one as they have the power to provide each and every customer the required personal attention and take into account all the suggestions and even implement some of them. Small businesses provide daily bread to many a people and thus are very important.

Marketing small businesses:

The most common methods of marketing small businesses are customer referrals, mouth publicity, radios, newspapers, internet, directories, boards, etc. Television ads can be a bit expensive for advertising small businesses. Internet marketing is considered the most cost effective and result oriented method of marketing small businesses. The ads can be placed on websites or even search engine web pages. The costs are decided on the size of the ad and thus can be easily moderated.

Small business ideas:

– Franchisee business: this is one of the extremely profitable ideas of a small business. The only things that you need to start this business are a place and some capital. The best part of this business is that the things that you sell are already quite famous in the market and thus you need to do very little expenses on the marketing.

– Event planner: if you know the knack of organizing things perfectly, then you can become an event planner. You need to plan out meetings, parties, weddings and other such get-together for your customers in the given budget. The best part of this job is that it is extremely interesting and your work does the marketing for you.

– Computer repair: if you have done any hardware or software course or have learned any computer language then you can start the work of computer repairing. You just need to sort out simple problems in computers. The best part of this job is that you get to learn a lot more than you have about computers. But, you should do only the work that you can manage and avoid doing any guess work.

Online Home Business Information Overload

When starting an internet online business it seems there is just so much information to digest. For most people this becomes overwhelming and causes them to believe they will never be able to get started in the online business.

The “experts” do not help. It seems that once you start looking at internet businesses your email inbox is filled to bursting point everyday. Usually these emails are offering a “one time only” special secret which will make you a fortune.

This makes it very difficult to remain focused on what you want to achieve. Because you are constantly distracted by the latest “unique previously unreleased” method of making your fortune with an online business. So let us look at some structured methods you need to apply before you get going.

First and probably most obvious is what product you will sell. This is normally referred to as your Niche. You need to spend some time on this and you need to understand your product inside out. If you don’t really believe in your product you will not convince anyone to buy it.

Will you sell digital products (reports, books, training videos etc.) or will you sell store type products (this can include anything you like) Will you hold inventory (stock) or will you use a dropship supplier. Dropshipping is where the supplier sends the product directly to your client on your behalf. This means you do not require holding any inventory.

Or you could choose to become an affiliate. An affiliate simply put, is a salesperson who sells products for other companies. Once a sale is completed the affiliate gets a commission. The commission can be substantial 50-70% is common.

If you are just starting out the affiliate route is probably the easiest. Being an affiliate means you do not even need a website and can get started straight away. It is a good way to get the money coming in whilst you develop your long term business strategy. You just simply send clients directly to the landing page of your affiliate company and once they buy you get paid.

To make money long term and to build a business with some value, you will need to eventually have your own website. You want to capture the details of your clients. You can use this information in the future to promote other products and make extra sales.

This information should be enough to get you thinking in the right direction. In my next article I will cover: GETTING TRAFFIC, GETTING SALES, OUTSOURCING, RUNNING YOUR BUSINESS DAY TO DAY.

Business Hubs: Your Business Information Center

Those who want to harness the power of the Internet for growing their business; a business hub is where they will find a variety of resources as well as marketing tips and strategies. The Internet has changed the way businesses operate and reach customers. Businesses have to match their strategies to this new arena. Most traditional marketing methods will not work online, so they have to learn new marketing strategies for increasing their online presence.

There are plenty of Internet marketing methods-some are niche-specific, while some work across different industries. Marketing online is relatively more affordable than traditional advertising. When approached the right way, they can give your company the boost it needs. But where is the best place to go to learn those marketing strategies?

A business hub, which also known as web hub or vertical portal, is a website dedicated to providing content, information, and services to businesses within a particular industry such as health care and IT. While some serve as meeting ground for businesses and customers, it tends to focus more on the needs of businesses than industry customers.

As a business-to-business website, a business hub can serve as your gateway to essential information on how to grow your business. They typically cover information specific to a niche, but they may also include general marketing information (e.g. Facebook marketing, article marketing). Some also offer industry analysis or business design. Here are some of the most common business marketing strategies covered by business hubs.

  • Article marketing.Article marketing is a method of promoting a business or company by publishing keyword-optimized articles in web directories. When properly done, it is an effective tool for reaching broad audience and showing them your expertise.
  • Cloud Marketing.This is the collection of different Internet-based marketing services, allowing marketing functions to operate more efficient and effectively.
  • Consumer Generated Marketing.This is a marketing method that directly involves participation of audience in marketing products or other activities of business.
  • Facebook Marketing.This looks at Facebook as a platform for marketing one’s business and reaching audience.

Summary of Benefits Business hubs share 3 common aspects:

  1. Marketing resource.Business hubs are great source of information on how a company or business can thrive online. It gives you quick access to different marketing strategies and other relevant information-tools you need to stand ahead of the pack.
  2. Niche-specific information resource.Because it caters to niche markets, you don’t have to sort through millions of web pages to find the information most relevant to your industry. If you’re new to online business and don’t know where to start or what direction to take next, you may find the answers in a business hub.
  3. It serves as a directory of different businesses in the industry. Most keep a listing of companies offering industry-specific services. All in all, business hubs function as a reference center for people who want the ins and outs of an industry in particular and the world of Internet-based business in general.

Building Your Coaching Business – Information Marketing – What to Do When You Get the Appointment

Here are some power questions that will grab your prospective client when you have your meeting.

Stop selling, and start helping. You will see your sales close ratio go up 5-10 times from where you are if you’ve been “selling” during those meetings.

Although this article is meant to show you how to follow up the Information Marketing letters we mentioned in the previous article, this approach still works for almost any sales appointment.

Just keep in mind that “you are not there to sell,” you are there “to help.” There is a clear distinction, at least as far as how the prospect perceives it.

Does that mean that you aren’t going to close, no, you will. However, you MUST be there to help him no matter where that may go. You are there to help the prospect find the answers he needs to solve the problems you are going to help him discover. You will work on HIS problems together heading for the answers. When he finds those answers, he will recognize that you were the one that guided him there. And, in most cases, there is still more work to do. He’ll want you around to help him find more and more answers, and help him implement the actions.

Since you are not here to SELL, you will not be in the TELL mode. You will be coaching him to find his most important answers to his most important problems.

Here are some questions that just might help:

Start your meeting off by asking them to explain what was the most beneficial thing they got from the article (assuming this is the follow up to that information marketing campaign). If this isn’t a follow-up to an information article campaign then just go directly into the questions that follow.

  • What are your biggest goals for your business this year?
  • What are they worth to you, if you could achieve them?
  • If you could achieve them sooner than expected, what would that do for you?
  • What has been the biggest obstacles to you pulling that off?
  • What might have delayed achieving those on time?
  • If you could solve those problems in the next week or two, what would that do for you?
  • What has it cost you for not achieving those?
  • What is it costing you every week that you don’t achieve those goals?

You want the prospect to define the value of achieving those goals in dollars and cents. What it has cost them in not achieving them. That sets a value for moving forward and a cost for not acting.

You’ll see that most will decide to move forward either at this meeting, or a meeting that follows up quickly.

If the prospect ultimately says he isn’t ready to move forward, what do you do?

Ask him when he absolutely has to have this problem resolved?

Make sure that you know what the weekly cost to him is for every week that this is delayed, because the chances are that the delay is more costly than your fee. This might be worth a discussion before leaving.

When he gives you a date, ask him if he’d like to continue receiving your articles on how to resolve his problems. He’ll be on your list, and it wouldn’t hurt to have some hints and tips about it.

When the date comes up, give him a call. There is a really big chance that he hasn’t done anything to fix the problem. In that case, show a concern that he said it was costing him $______ a week, and you have some other suggestions that might help out. Schedule another appointment to talk it over.

Remember, your fees ARE going to be less than the costs he is facing in not getting it fixed.

You are selling your value, not coaching or consulting. Be able to give a testimonial that shows how much other clients gained from your coaching.