Immense Scope in Home Business
Home business opportunities had been continuously growing over the last few decades. The current economic recession sweeping the world countries had brought several miseries along with it. The major problem had been the countless layoffs and job cuts by the commercial establishments and factories. People that never foresaw an uncertain future had been finding themselves suddenly getting the layoff notice. The biggest casualty had been the working mothers, particularly single mothers supporting their children on their own. This bleak scenario had not left any nation on the globe. People had been forced to find alternative work that would give them a decent income.
In this direction, home business ideas had been a real boon to several persons that had been the victims of the present economic downturn. Several new and novel home business opportunities had cropped up. Hundreds of websites had been offering lucrative home business alternatives to regular work. The advantages of a home business are obvious. The working hours are flexible, the income is regular and assured, and you spend more time with your family. All these factors usher in a relaxed atmosphere and peace of mind. The tensions and stresses of a regular job are totally absent in home business.
However, a fair amount of caution is required in choosing the thousands of home business opportunities available on the net. Many of them had been pure swindles, taking easy money out of desperate persons. Instead of paying your hard-earned money to such websites to get home business ideas, you would do well to think of the various home business opportunities on your own. Still, a few home business ideas are presented here.
At the outset, analyze carefully your inherent capabilities and talents. Find out what you would be able to do best and what you like to do more than anything else. If you like outdoor work, then you might think of taking up work like lawn maintenance, garage construction, etc. If you wish to work from the comfort of home, then furniture assembling, jewelry making, toys making, etc. offer very good opportunities.
Home business opportunities exist in innovative fields like mystery shopping, product evaluation and review, etc. Several departmental stores and chain shops wish to have their workforce reviewed for quality service and efficiency. They hire people to visit the stores as regular customers and observe the behavior of the shop employees. In this exercise, you are paid for reporting the kind of service offered by the employees, the aesthetics and cleanliness of the shops, and other such related factors.
Product review work is also an interesting one. You are supplied with a product, which you should use and write a review about all aspects of its performance. In general, you are expected to write a favorable review of that particular product. If your review is accepted by the company, either you are paid a decent fee for the product or you are allowed to keep the product in lieu of a cash payment. Several other home business ideas could be thought of, if you apply yourself to it.
How Home and Business Broadband Differ
Unless you have your own business it is unlikely you have any knowledge of the difference between home broadband and business broadband. Why would you need that information? It doesn’t affect you either way. On the other hand if you own your own business or are in a position with your employer that you make decisions regarding the computer usage, you will perhaps be interested in the differences between the two of them.
One of the differences that most people note is price. In most cases a business broadband account will cost more than a home broadband account. One of the reasons that may be is because of the need for quick response from service technicians. In the effect that there is a problem with the connection, it is essential for a technician to respond quickly to address the problem. Although some home broadband users may be operating a business from home, unless they have a business account they will not receive the same level of service they would if they were paying for a business broadband account.
Another difference between home broadband and business broadband is the speed of the connection. Of course, this is also affected by the speed of the system that is being used, so if you have a slower processor, you are not going to connect at the same speed as you would otherwise. In addition, the amount of available RAM will affect your connection speed as well.
The major difference that exists between home broadband and business broadband is the number of users that exist on the same server at the same time. For example, on a home network there may be as many as 50 connections on the server at one time while business broadband may only accommodate 20 on the same server. The fact that a business broadband server has fewer computers on the same server simultaneously gives it a faster connection. With a business connection speed is of greater importance than a home connection in most cases.
It’s essential to remember if you are operating a business at home and need a faster connection speed, you may need to upgrade to business broadband. Whether the cost factor is worthwhile depends upon what kind of business you have and whether your current speed has a detrimental effect on your business needs. If you work with both online services and offline software you may not need to increase your speed, but if you have an eCommerce site that depends on you being able to access things quickly, it may be in your best interest to upgrade to business broadband.
You have to understand the differences between home broadband and business broadband in order to choose what is right for a home-based business. We have addressed some of the major differences that exist, but you need to contact your broadband provider in order to address any additional differences that may exist based on offerings of your broadband provider and the area where you live or operate a business.
Franchising Vs. Licensing A Business (Franchise Vs. License) And Business Opportunity Expansion Options
What’s the difference between franchising vs. licensing a business? The starting point in the franchising vs. licensing a business analysis is to consider the legal aspects, then the business aspects. In considering the legal aspects, begin with the following premise that applies to both options. If you put someone into business (or allow them to use your business name/mark) this transaction will normally be a regulated activity, subject to substantial penalties for noncompliance.
This guiding legal principle, coupled with the business aspects of selling a franchise vs. a license (discussed below) will answer most franchise vs. license questions. Advice from a competent franchise attorney is indispensable.
BACKGROUND OF FRANCHISE & BUSINESS OPPORTUNITY LAWS
Why does regulation exist? The government, due to documented past abuses where tens of thousands of individuals lost all of their net worth by investing in nonexistent or worthless business endeavors, has devised two principal consumer protection mechanisms:
(1) franchise disclosure-registration laws; and
(2) business opportunity laws.
The thrust of these laws is to require sellers to give potential buyers enough pre-sale information so informed investment decisions can be made before money changes hands, long-term contracts are signed and sizeable financial commitments are undertaken. Under federal regulations, a Franchise Disclosure Document (FDD) covering twenty-three individual chapters and a hundred or more pages in length must be prepared and given to every potential buyer at least 14 calendar days before any contract is signed or money paid.
It doesn’t matter what terms are used by the parties in contracts or other documents to describe their relationship. For example, the contract may call the relationship a license, a distributorship, a joint venture, independent contractors, etc., or the parties may form a limited partnership or a corporation. This is entirely irrelevant in the eyes of governmental regulators, in particular the Enforcement Division of the Federal Trade Commission (FTC). Their focus is not on semantics, but on whether a small number of defining elements are present or not. Today the industry is subject to a complex web of regulations that differ from the Federal level to the state level and differ widely from state to state.
Firms or individuals that say calling it a “license” dispenses with legal regulations are delusional and wrong for at least three reasons:
(1) Common Sense – if it was really that easy, everyone would would be doing it that way. The 3,000-plus companies that are franchising are not stupid. Many of them can afford the best legal talent available. It’s not a coincidence they’re all franchising and not licensing;
(2) Even if the relationship is not regulated under franchise law, business opportunity laws (discussed below) will apply, and complying with these will be a lot more expensive than going the franchise route; and
(3) Any analysis must include federal as well as applicable state laws.
This all reminds me of some financial planners who still advise clients filing U.S. income tax returns is not required under their interpretation of the U.S. Constitution. It just doesn’t work that way. Actually it only works until the IRS catches up. The “licensing avoids franchise regulation” spin (which, not surprisingly, is not accepted in the legal community) also only works until the company gets caught. The logic (not) goes something like this: licensing arises under contract law, not franchise law and therefore franchise law doesn’t apply. Sound’s just like the “you don’t have to file a tax return because tax laws don’t apply” argument.
Here’s a real life example. A “licensing attorney” prepared a dealer license agreement and ignored the FTC Franchise Rule disclosure requirements. The dealers became disgruntled and hired a litigation attorney who sued the company, not surprisingly, for selling illegal, disguised franchises. It cost the company $750,000 to go to trial in federal court to answer the question “Is this contract a franchise?” It’s always a very expensive question to answer. Trying an end run around the franchise disclosure laws by calling it a “license” may be a cheaper way to go initially. But it’s not a question of if you will be caught, the only question is when. Be prepared to spend mind-boggling amounts down the road when the disguised franchise is challenged for what it really is.
In a 2008 case, Otto Dental Supply, Inc. v. Kerr Corp., 2008 WL 410630 (E.D. Ark. 2/13/08) another disguised franchise vs. a license was at issue. The licensor claimed it sold just a license, not a franchise and the franchise laws didn’t apply. It made a motion for summary judgment to have the case thrown out of court. The federal Eastern District Court ruled against the licensor and ordered the case onward. It said whether or not the license was really a franchise was up to a jury to decide. Juries apply common sense to the simple defining elements of a franchise. They are not swayed by semantic arguments like “licensing arises under contract law, not franchise law and therefore franchise law doesn’t apply.” Another expensive franchise vs. license learning lesson.
This is not to say licensing a business isn’t a viable option in foreign (out of U.S.) transactions where U.S. laws don’t apply – but these are a very small minority. Most transactions and contracts cover U.S. activities and residents, so the franchise vs. license question is an easy one to answer. Even inside the U.S. there are some cases where calling the relationship a “license” makes sense. Years ago, a company selling education franchises to university professionals called their contract a license. To comply with applicable laws, a full franchise disclosure document was prepared and registered. For strictly marketing reasons, the “franchise agreement” was called a license agreement within the franchise disclosure document.
The list of required defining elements is quite short, and although certain franchise exemptions and exclusions are available, the franchise statutory framework was designed to pigeonhole these relationships into either a franchise or business opportunity box. Normal license agreements contain certain “control” provisions (right to audit, require reports, mandate suppliers, etc.) and the presence of ANY control or assistance provision (operations manual, training, site or other assistance) is enough to satisfy these elements of the Rule. In fact, the title of the FTC Rule says it all: “Disclosure Requirements & Prohibitions Concerning Franchising and Business Opportunity Ventures.” So, the focus must be on which box is better to use, not on how to avoid using either box.
THE FRANCHISE BOX – REGULATION BY THE FEDS
Let’s consider the franchise box. Under FTC regulations that became effective in 1979 a thick document (now called a Franchise Disclosure Document) must be prepared and given to prospective buyers for a minimum of 14 calendar days before any money is paid or contracts are signed. This document now contains 23 items or chapters of information, as well as current financial statements and a copy of the actual contracts used.
As mentioned, this document is designed to give prospective buyers enough pre-sale information about the company, its financial condition, the proposed contract, investment requirements, trademark rights, exclusive territories, etc.,so informed decisions can be made before long-term contracts are signed. For companies that attempt to disregard federal law, the FTC Act authorizes the Commission to recover civil penalties of up to $10,000 for each violation of its Rule, plus injunctive relief, consumer redress (obtaining complete refunds, canceling contracts), etc. Because each sale can involve multiple violatio
ns of various regulatory provisions, these fines can be substantial and far outweigh the cost of doing it right the first time.
Selling a disguised franchise (an illegal franchise) as a “license” can be the most expensive mistake a company ever makes. One need only consult the franchise registration filings of various states to see the significant number of companies that fall into this trap. They started out selling “licenses,” operating under misguided advice, in a vain attempt to save money. Then, they either get sued for selling an unregistered or illegal franchise. Or they finally get competent legal advice that what they’ve really sold are disguised franchises, even though they were called a “license.” The governmental agencies require them to offer full rescission rights (cancel the license, refund all money that’s changed hands) to all persons they’ve sold “licenses” to. Defenses like “we didn’t sell a franchise, we only sold a license” or “it’s a license and a license arises under contract law, not franchise law” just don’t work and never have. In the end, they pay a lot more to have it done the way it should have from the very beginning. And for those disguised franchise owners who usually exercise their “let’s get out of this license contract” rights given to them by the regulatory agencies, the sellers end up putting them into the business for free plus having to refund all the money they paid. Not a pretty picture.
STATE REGULATION OF FRANCHISING
Because regulation of franchising is at the federal and state level, the effect of state regulation must also be considered. The FTC Rule sets minimum standards and applies in all states, unless a particular state sets higher standards, and then that state’s law applies. In 1971, eight years before the FTC Rule went into effect, the State of California was the first to enact a franchise disclosure-registration law where a franchise registration process is required before franchises can be offered (i.e. advertised) or sold. The California Franchise Investment Law was in response to a wave of consumer franchise complaints. Other states soon followed California’s lead, leading to a situation where franchise companies had to follow different rules in each franchise registration state.
To alleviate these difficulties and achieve a uniform format, a group of Securities Commissioners from various states adopted a Uniform Franchise Regulation, effective in 1977, known as the Uniform Franchise Offering Circular (UFOC) format. All states requiring franchise registration followed the UFOC format, a thick document also containing 23 chapters of information. None of these states accepted what was then known as the FTC’s Basic Disclosure Document. To ease the obvious predicament created by UFOC vs. FTC format, the FTC allowed companies to use the UFOC format as an alternate to its Basic Disclosure Document. In 2007, the FTC adopted its own version of the UFOC format, known as the Franchise Disclosure Document or FDD. The FDD format is the required format in all states beginning July 1, 2008.
FRANCHISE BOX SUMMARY
Bottom line on the franchise box: By preparing a single franchise disclosure document (at a cost of about $30,000), a company satisfies the federal requirement and is positioned to offer and sell franchises throughout the United States. Although certain state-specific information and disclosures may be required in the minority of states having a franchise registration-review process, this can normally be accomplished in a couple of extra hours per state.
THE BUSINESS OPPORTUNITY BOX
Now, let’s consider the business opportunity box. At the state level, there are approximately 24 states that regulate and register business opportunities. Unlike the franchise box, there is no such thing as a uniform business opportunity disclosure format. Business opportunity rules and registration requirements differ in each business opportunity state. Many of these states also have a “cooling off” period, usually a couple days after the sale where buyers can change their mind for any reason and receive a full refund.
For a company that’s going the business opportunity route two different documents may need to be prepared and provided: the FTC’s Basic Disclosure Document (if the business opportunity fits the FTC’s definition of a business opportunity) and a state’s more abbreviated business opportunity disclosure document. Also, different timelines may need to be observed: the FTC’s 14 calendar days before, and a business opportunity state’s cooling off period after.
Bottom line on the business opportunity box – if you’re an attorney with a business opportunity or “licensing” client, get ready for hundreds of billable hours, you’ve just landed a big one. But, if you’re the business paying the legal bills, it’s going to be a lot less money to go the franchise route. Prepare a single, Franchise Disclosure Document, register in a state or two as expansion efforts begin, and you’re essentially done.
There are also other factors to consider in the franchise vs. business opportunity analysis, including liability issues (definitely a greater risk in the franchise arena) but these are beyond the scope of this article, which is not intended to offer legal advice. Companies should consult with competent, informed legal counsel about the specifics of their particular situation before making any decision.
THE BUSINESS ASPECTS OF FRANCHISING VS. LICENSING A BUSINESS
The business aspects of the franchise vs. license and business opportunity options are relatively straightforward. It all boils down to image from a marketing standpoint. From a credibility standpoint, does your company want to stand toe to toe with the likes of McDonalds, Radio Shack, H & R Block and other franchised household names? These are the mental images formed in the mind when an average consumer hears the word franchise, along with familiar, highly advertised slogans like “being in business for yourself, but not by yourself,” “complete training,” “support where and when you need it,” etc.
This, coupled with the complete package of training, start up and ongoing support services offered by franchise companies, makes a franchise a more attractive commodity in the eyes of the prospective buyer and an easier sale. The same applies to firms that first sold “licenses” then switched to selling “franchises.” These companies report they attracted considerable interest and far more inquiries when offering “franchises” compared to when they offered “licenses.” So, even from a business standpoint, the franchising vs. licensing a business question is easy to answer. In addition, and as discussed above, a “license” is almost always a franchise in disguise, a ticking bomb creating significant legal issues if the FTC Rule (and corresponding state franchise registration laws) are not followed.
THE BUSINESS ASPECTS OF FRANCHISING VS. BUSINESS OPPORTUNITIES
Business opportunity ventures, when compared to franchises, suffer from definite image problems that translate into difficult marketing issues. If you ever need proof of this, just attend any business opportunity show or expo. You’ll see a host of fly-by-night opportunities such as worm breeding in backyards, exotic plants raised in glass bowls, condom vending machines (not a bad idea these days) and the like all promoted by fast-talking, high pressure salespersons. Does your company really want to be associated with these companies and the reputation they project? Poor image, coupled with the fact that business opportunity ventures typically provide little training and no ongoing support, make them a much more difficult sale to prospective buyers. In a business opportunity, the buyer is just thrown a ball, and it’s entirely up to them how to run with it.
CONCLUDING REMARKS
From both a legal and business perspec
tive, the franchise vs. license choice is an easy one to make. Doing it right the first time will save money and significant legal headaches down the road. The individuals prevalent on the internet who claim (via very unprofessional-looking websites) that merely calling the relationship a “license,” are only selling a future lawsuit. They are not looking through the lens of an expert with almost three decades of experience who has seen first-hand the havoc these “disguised” franchises cause. Instead, they are attempting to make easy money – at your expense. From the most basic, common sense perspective, if it looks like a Duck, talks like a Duck and walks like a Duck – . . . it’s a Duck.
Developing your Business: Creating your Core Team 1
Although many small businesses begin with only one or two members of staff – the founders – most growing businesses quickly recognise the need to create a larger team. Not only can this spread the workload but a well-selected team can bring in more energy, creativity, drive and knowledge than the founder alone might possess. A small, closely-knit, highly motivated team can be an unstoppable driving force.
The authors of The Beermat Entrepreneur call the members of this core team ‘cornerstones’. They suggest that the ideal mix is one entrepreneur providing strong leadership, surrounded by four ‘cornerstones’ – one for sale, one for finance, one for product development and one for project delivery and customer service. In real terms, most small businesses cannot afford such a big team, and don’t really need it to begin with. However, even bringing one other person in to the business can make a huge difference to its success during the first year or so.
In many cases, the original team will be composed of the founder, or founders, and one or two relatives or friends who have been roped in along the way. This works well if everyone is committed to the success of the business and prepared to work hard. As we’ve seen the early days of a business are defined by long hours and a painfully demanding workload – there is no room for the half-hearted or unenthusiastic. Not only will they not pull their weight, but they will sap everyone else’s enthusiasm too.
I’ve heard it said ‘never work with friends or relatives’ and it’s true that in some cases this leads to disaster. However, a team who like each other – and have a friendship beyond the business – can also be extremely efficient and powerful.
Jude, Business adviser
Remember that just because you enjoy spending time with someone socially it doesn’t mean you will like working with them. Ask yourself what they would be like to work with. Are they hardworking? Enthusiastic? What do they have to offer your business? Try to find people whose skills compliment yours, who can bring something to the business that fills ‘gaps’. For instance, if you are fantastic on the finances but weak on marketing, you need to find someone who can bring something extra to the marketing side of the business.
A recent London Business School survey of CEOs found that they considered the major factor that had contributed to the success of their businesses was ’selecting the right people with good attitudes who are loyal to the company and who want to excel in their careers’.
Defining Roles
Whether you decide to go into business with others as equals or you employ them as part of your original team, it is very important to define roles carefully. Everyone needs to know what is expected of them and where the boundaries of their ‘area’ lie. In businesses with two or more equal partners a lack of clarity about roles can be a major source of conflict, taking up valuable time that might be better spent focused on other aspects of the business. If you have a management team, you need to give them space to fulfil their roles and feel that their contribution is valued. This doesn’t mean handing over control, final decisions will still rest with you (or if they don’t you need to be clear about exactly who is the boss – only one person should take this position or squabbling and infighting can result).
Consider the following key roles and divide them between your core team. You should all be clear on who is going to take each role.
Business leader – who takes the final decisions? In other words, the boss.
Sales person – who sells to your customers? Identifies customers and carries out your customer research?
Finance person – who manages the money and the associated administrative work?
Supply management – who locates suppliers, negotiates with them and maintains adequate supply levels.
Core business – who does the core tasks of your business, by which we mean the things that your business is actually about? This might mean making a product, providing a service or something else.
Marketing and PR person – who promotes your business to potential customers and raises the profile of your business?
Some of these roles overlap, so good communication is also of key importance to your business.
Importance of Role Clarification
People do either one of two things in a business – they either add value or they add cost. There are no grey areas.
One of the most important ways to ensure that your core team members are all adding value is to help them clarify their roles.
There are a number of different aspects to role clarification:
Prescribed role – This is what the business uses to set down the individual’s overall goals and objectives. It is usually called a ‘job description’ or something similar and it sets out the person’s responsibilities, authority, and key tasks, as well as their position in the business hierarchy.
While this is a useful starting point, it does not take account of personal differences and changes in circumstances such as growth of the business or the need to cover weak performances by others.
Personalised role – the prescribed role is only part of the picture. These are factors internal to the individual which will affect the way he or she performs in the role.
This includes their abilities, skills and strengths, as well as their expectations of the role, their assumptions (about the role, the business, the sector. etc.), their values and ambitions.
Perceived role – the perceptions and expectations of others in the business will have an impact on the individual. For example, they will have their own views on what the priorities of the role should be as well as the boundaries: ‘I don’t think Sales Managers should…’; ‘I expect you to…’ These can limit or restrict the way a person performs, but if expectations are high and positive they can raise the person’s game, enabling them to perform to their full potential within their current role.
From the Business Team at Learning Curve; offering a range of unique development programmes for small businesses.
The Effects of Mass Media
In this day and age, Mass Media is all over. It surmounts the activity of the people. It shapes, forms and influences the buying decisions of the majority through its incessant advertising schemes bombarding our daily existence and it seems that there is no stopping it. As a result, this leads to the invincible effects of Mass Media to the society and its people.
The effects of Mass Media in the present time is both extraordinary and dreadful. On the positive sense, Mass Media makes the lives of the people at ease, along with Information and Communication Technologies, they produce a breakthrough and innovative standard of living for the people to embrace and to live by.
Yet for the young people especially for the teens, the upshot of Mass Media to their lives is in some manner destructive. Mass Media is by some means damaging their innocence of reality and their genuine perception of the outside world.
Teens of today were consumed by constant media messages. Anywhere they rest their eyes they will be exposed to countless advertising and marketing messages. Predominantly, the entertainment media largely influences these young people to act and behave in a certain way that will subsequently be accepted by the society and the people around them.
Mass Media exposes different revolutionary sides of reality and of life. Still, it becomes the most celebrated and widely used by the people in this day and age.
In due course, the effects of Mass Media will forever strike humanity and modify its way of living.
How To Write An Objective For Resume
When you are crafting your resume, you need to know how to write an objective for the resume. An objective is basically what you are hoping to achieve in the job or career field that you want to get into. It says why you got into this field, why you are so passionate about it, and what you can do for the company or the career area.
Some people feel like there is no need to include an objective on your resume. However, it can be helpful in showing your passion for your career field and can let a potential employer know why you are passionate about the job in the first place. Either way, knowing how to write an objective for your resume is a very important part of the job seeking process.
The first part you should know about in learning how to write an objective for a resume is that you must use words that are always positive but not too flowery. Speak from your heart and avoid using any euphemisms of any kind and be sure that your objective sounds very professional. It should state why you got into the field in the first place and why you want to continue in the same field.
On the other hand, if you are switching careers, your objective statement should say why you wanted to get into another field and what makes you so excited to do so. You should state what you are hoping to accomplish in this new career and why you know you can accomplish it!
When writing your objective statement, you should be brief. This is a sentence or two about why you want a job in this career field. It should show a potential employer why he or she should hire you even if you do not have a lot of experience in the field you are applying for.
Knowing how to write an objective for a resume is an important part of “putting your best foot forward” so that the person who is reading your resume wants to read the rest of it. It is kind of like when you begin a new novel. The first line is so important, it has to hook the reader and make them want to read on. The same applies to your objective statement on your resume. You should make your potential employer want to read more about you based on your objective statement.
Leveraging Social Media for Your Business
You may have noticed a lot of coverage over the past couple of years about the rapid growth of social networks and how they are changing the way we communicate?
Perhaps, you have also stumbled across one of the many articles professing how to ‘double your sales’ with Twitter or Facebook and maybe feel you have missed the boat with your own marketing?
But, it’s actually worth asking the question as to whether marketing through social media actually works in the first place, and, if it does, how can you make it work for your business?
The Changing Face Of The Web
Many social media web sites have been built on the back of a technical evolution on the Internet – something paraphrased as “Web 2.0”. It’s a term that many marketers talk about with great authority and it is used in many different contexts. But, what exactly is it?
In the early days of the Internet, a website contained words and pictures – like a magazine or brochure – and it wasn’t an interactive environment. But, with the advent of Blogging, Wikis and commenting (to name but a few) we can all get involved with conversations online by writing (and publishing) directly onto web pages.
We can easily create our own Facebook profiles, Blogs and Twitter accounts and share information with people who have similar interests. For this reason, Web 2.0 is often referred to as the read/write web.
Of course, one of the main reasons social networking has become mainstream so quickly is that many of the websites don’t charge – they are free to use. Companies looking to raise their profile online have taken advantage of this to promote their profile to a whole new audience, often in an inappropriate way.
When it comes to marketing your business through social networks, are people even talking about your brand in the first place? Are they discussing your industry? If so, where are those conversations taking place so you can join in and raise your profile too?
Getting Specific
As with most marketing case studies, many of the success stories you will read about are consumer brands; brands that people want to talk about; brands with a mass market.
From this feedback, companies from all sorts of industries have picked up on the buzz and started Twittering, Blogging and setting up their Facebook fan groups, and, because the cost of entry is virtually zero, it’s not just the big boys. Startups and small businesses have also jumped on the bandwagon.
Move into the business-to-business space and getting your voice heard becomes somewhat harder than the success stories suggested it would be. Who wants to talk about widgets or your bespoke niche service, especially when so many other companies occupy the same space? It’s like exhibiting at a huge trade show with all your competitors setting up a stand right next to you.
Interestingly though, some people do want to talk about the same thing as you and may be interested in hearing what your company has to say. The key is to find out where the most appropriate conversation is taking place and to then to understand how that conversation is taking place.
Conversation Marketing
With Web 2.0 technology everybody can have a voice. So the way you engage with people through social media works very differently from traditional offline marketing. If you say the wrong thing in the wrong way, people have the right to reply and, in terms of reputation, they may have a lot less to lose than you and potentially a much larger audience listening to them. Treading carefully and mixing with the right people becomes even more important.
Business marketers in the social space often overlook rules of interaction and social etiquette. They try to sell too quickly and too aggressively without gaining trust, looking to control conversations and relationships. But let’s face it, who wants to stop around and listen to the person controlling the conversation in the real world? Why on earth would we put up with it any more online?
In fact, in the social space we can un-follow, de-friend and block at the click of a button; the relationship gone in a second, along with trust in your brand. It’s happening to a lot of marketers in the social space – no-one is listening to them because they have nothing that people want to hear.
Creating Trust
Creating a successful marketing strategy using social networks requires the ability (and patience) to develop trust with people. Like many marketing techniques, it’s a case of creating your pipeline of new relationships and developing them over a period of time – not pushing the sale from the outset.
Gaining initial trust is essential.
One trust-building strategy for social media marketing – whatever your industry – is to answer the questions that people want (or need) the answers to. If you can engage your audience with relevant information, they will not only buy into you, they will also spread the word – your word.
Platforms such as Blogs, Twitter and LinkedIn allow you to demonstrate your product and industry knowledge in an open forum. Of course, you can also create relevant links to your website through these platforms to drive traffic to your website and increase your brand profile – as long as you are subtle in your approach.
Developing Relationships
Then, as people begin to trust your social profile, you can begin to drive them through to the next step in developing the relationship. For instance, why not ask them to subscribe to your e-mail marketing?
This overcomes audience apathy. If you have developed enough trust in your social relationship, leverage it to a medium whereby the onus is not on your audience to collect the message, rather on you to send a relevant and regular message – the next step in developing further trust, and one step closer to delivering a customer to your sales team.
But beware. As in any personal relationship, trust can be lost in an instant if you say the wrong thing. Keeping one eye on the end game and never abusing the relationship is an absolute must.
Where Do You Start?
Having a strategy for your social profile is often overlooked but is essential to give you focus with your approach. Questioning your objectives is essential:
Should your profile be you (as a person), your CEO, or your company? Who will gain the most trust and credibility online? Which social platform is the most appropriate to focus on? Where are your existing customers? Why not ask them how they use social media? What are you going to talk about? What do you want to be recognized (and found) for? By sticking to a subject (however niche), you can become an acknowledged expert. How much personality should come through? Is it yours, or your company tone-of-voice?
Setting up a profile in any of the social networks is a straightforward process and often free. It pays to explore the media to see if the audience is right for your business and be prepared to switch off your efforts if they do not yield any results.
Summary
There is no doubt that engaging people on the right social media platform can help you reach a new audience and increase your online profile.
The challenge is to create a focused strategy aimed towards a specific audience and engage them in a conversational dialogue to encourage trust.
Only when you have gained trust can you leverage the relationship and lead the conversation to the next level. Where many marketers want quick wins, social media is much more of an effective marketing medium if you are not pushing too hard. So, you may have to be prepared to wait until trust has developed.
That said, when your pipeline begins to fulfill itself, social media offers a very sustainable route to generate awareness and, ultimately, potential new sales leads.
Small Businesses Benefit From Twitter
Almost one in five small businesses are now tweeting regularly, according to research released recently by O2, the mobile phone provider. (“Small Businesses are Catching Twitter Bug,” Richard Tyler, The Telegraph, 16 March 2009) Although the larger, multinational firms were the first to jump on the Twitter bandwagon, increasing numbers of small to medium sized businesses are catching up. In many ways Twitter is an even more useful tool for the mom-and-pop operators than for the big businesses with deep financial pockets and large advertising budgets. Twitter is free, simple and easy to use and is the newest, most useful tool for small businesses looking to increase sales and profits.
Cost savings
Small businesses that use Twitter save on marketing and recruitment costs. A substantial amount has been saved by firms who use Twitter instead of traditional marketing methods, an impressive cost reduction from the small business perspective. (“UK Small Businesses Flock to Twitter,” News Desk, smallbizpod, 17 March 2009) Small businesses often have little, if any, advertising budget. Having a Twitter account is much cheaper than maintaining a web page or an email distribution list. For smaller enterprises, the immediate intimacy of tweets suit their business philosophy and approach better than impersonal, sweeping advertising campaigns.
Spread the word
A Crème Brulee cart operating in San Francisco grew by word of mouth via Twitter and within a few months the proprietor had quit his day job to keep up with demand. (“Mom-and-Pop Operators Turn to Social Media,” Claire Cain Miller, New York Times, 23 July 2009) Such a success story illustrates that direct marketing, especially the word of mouth kind of Twitter, is a powerful tool for small businesses looking to expand their customer base. Business owners can also tweet about discounts or new, just-in products, reeling in new customers and enticing regular ones.
Relationship management
Twitter is useful for small businesses wanting to keep in touch with suppliers. The micro blogging tool allows small businesses to connect to other small companies, promoting a sense of community that goes beyond traditional geographical borders. An antique store in Texas connects with customers in New Jersey and orders supplies from out of town – all transactions were made through Twitter-based relationships. (“Mom-and-Pop Operators Turn to Social Media”) Twitter enables businesses to increase the range of contacts, whether with suppliers, potential customers or support services like accounting and consulting firms.
Feedback loop
Small businesses rarely conduct market surveys as these are too expensive and time consuming for the average small to medium enterprise. But what about grass root surveys? Twitter allows the small business to monitor what people are saying about their business and their products. You can ask for active feedback and criticism, respond to questions and deal with any disgruntled tweets through Twitter. Listening to what’s happening on the ground can also help small businesses decide on a strategic direction.
Keep your enemies closer
Competition is fierce for the small to medium enterprise. Twitter lets small businesses monitor their competition. What new initiatives are on the horizon and what can you do to keep ahead? If your competitors are not on Twitter, you can search for tweets that mention them so you can see what others are saying about them. Competitive intelligence is a good reason for small businesses to use Twitter and stay a step ahead of the crowd.
Differentiation
Being able to build a presence can make or break a small business. How do you differentiate your shop or enterprise from everyone else’s? Twitter allows a dash of creativity, humor and humanity in marketing your business. Tweets are personable and twitter accounts can be as funny or outstanding as you want them to be – the better for your customers to remember you by. A car dealer in Albany, New York, has the attention grabbing twitter profile “iamhuge”, a silly and memorable profile name that fits in with the business’s general marketing pitch and attracts curious customers to his website, Twitter account and dealership. (“Being HUGE on Twitter: A Small Business Case Study,” Rebecca Kelley, website: 10er20.com/blog, 4 August 2009)
In summary Twitter is not just for the big guys. Small businesses are signing up for Twitter accounts in droves. There are a lot of benefits of using Twitter to the small business, including cutting marketing costs and keeping tabs on competitors.
Be a Professional with HR Firms
In this globalization era, many teenagers who has graduate from the college is struggle to find a better job in the community. As we know that during the crisis last year many industries of any sector are quit some of the employees to save the company from bankrupt. This condition makes the job vacancy quite rare to offers in the line. Besides, it also gain competition between each person to interest the company hires them as the employee. Many ways is pursue. One of the common one is by taking course as an intensive experience to offers inside the vacancy as consideration.
As the other options, there are some companies which more prefer to hire hr Consulting Firms services to raise their employees’ works in better rather than doing new recruitment of new employees. As the solution, you can try the service offers by Nationalpeo.com. By using the service they can get best consultation of Human Resource of programs, training, and development. Here, the employees of the company can gain their ability to compliance issues through best practices of better works in progress. The trainer of consulting firms is provides the Safety Compliance Services of advances knowledge, law, and regulation to a regular class that can do after works. This service is cheaper rather than has to hire Human Resource manager for the company’s maintenance. This service is matched with any business industries that exist in the line whether fashion, law, food, medical, gadget, and accessories. With full commitment of high quality trainer of Safety Training Classes, you as the owner do not have to feel worries against any risk that won’t exist into it.
However, all of the services are guarantee of high complementation of customer’s trust over the years. It is one of the valuable things to do for your company of business to prevent bankruptcy while raise the works of your employee’s abilities into the highest level in proper way. Check it out!
Career Choice Seeks Career Challenge
Micro Managers void the creativity of professionals career by one of their shoulders, creating stress, confusion and loss of profits.
Nothing kills the spirit of your employees are looking for faster than a boss or supervisor on each step that needs to be in the public every day with every project.
Give some space – back off! All employees have personal time during the workday. Micro-managers care employees dozing at the water cooler or in the break room, rather than accept this as an essential ingredient to networking staff about the project.
Holidays, breaks are small talk around the “cool” and other distractions helpful for your success. Some companies are even allow employees to bring children to the Office. . . . This is a huge change in the standard most of us know.
Absence of a plan
Micro-management is a result of running your business without a plan. No one has any idea the best way to call anyone, any movement. Failure to share the vision means focus is missing.
When you say “Mama” used, there is unrest in the “force”. The “Natives” are restless. Why? No one understands the benefits. “What’s In It For Me” is always on our mind (WIIFM).
Many companies are coming together in trouble, because nobody took the time to a business plan. Verbal ideas “maybe”, but it takes time to get an adult business plan on paper. It’s so easy to run only through the seat of the pants.
“Seat” management is not a good idea for growth in your company. Statistics indicate that nine out of ten new businesses do not exist at the end of five years. Most companies last 10 years, while many never go belly up long before due to poor management practices.
What happened? Work on your Businss as owner, executive or project manager is more important than work in the shop on a daily basis.
Expand your horizons
Success in business takes leadership. There is always the need for someone to be the “white” horse. A leader! This person often spends his time micro-managing anything.
Most of us have seen, a committee working hard on a project that just got bogged down for lack of consensus.
Even in a committee to run projects that you still need a leader. A person who is respected for their leadership qualities and the one who gets the consensus among his colleagues.
Room to breathe
To succeed, the company’s management has to “space” (time) to give the project committee for it to “discussion” periods have. To develop an investigative review process. To make recommendations.
To change the input and suggestions for revision /. To conclude the details.
The micro-manager is facing a real challenge because of “turf to control.” The other, to make decisions and taken to the in-goal setting is foreign to him or her.
Insecurities rise to the surface of the micro-manager. In many situations, their position can be in danger. Few companies have a micro-manager today.
Talented employees in your company must understand and know the vision you have in mind. Paint with a wide arch and a wide-ranging brush. Enter the big picture and let the employees work out the details.
Rather than spend micro-management of the Business Executive you will be working time on your business not in your company. As an entrepreneur, you are the visionary. Goal Setter. Pacemaker. Buck Stops Here!