BizWorld Jamaica

A lot of small business owners are asking themselves the same question – should I have a blog for my business?

My answer is an emphatic YES – you absolutely need a blog. Here’s why:

Having a static website for your business just isn’t enough if you want to rank well in the search results for your profession and area today.

Google is looking for websites with original content that are updated frequently. Google is also looking for content that other people are engaging with, in the form of comments, and sharing on social media sites like Facebook, Twitter and Google+.

The Benefits of Blogging

Websites with blogs get about 7x more traffic than websites without blogs. Here’s why:

More traffic – Websites with Blogs get more traffic because they are updated more frequently, and easier for your readers to interact with. This provides more unique content for Google and Bing search engines to crawl, and qualifies you for more search results on more keyword terms.

Easy to update – Blogs are easier to update than websites. This solves the #1 frustration I hear from business owners – they can’t update their website. Most blogs provide a rich text editor, much like Microsoft Word. So updating your blog is a familiar and easy experience.

Engage your audience – Studies show that people trust Blogs more than websites. People leave comments, tend to share blog posts more, especially if you make it easy for them with social sharing plugins like Digg Digg and others.

Ping the search engines – Blogs like WordPress ping the search engines every time you post new content, inviting them to come back and crawl your site.

By:Don Campbell -

Build Brand Awareness

The first step is to use traditional media or word-of-mouth advertising to drive awareness and traffic to your Twitter, Facebook, YouTube, Linkedin or Myspace pages, says Jamie Turner, author of How to Make Money with Social Media.

Unless you already have a recognizable brand like Nike or Apple, your brand needs to develop social media magnetism before you can look to make any money. You also need to create circular momentum across many platforms when designing your social media campaign, says Turner.

 By providing multiple channels for users to talk with you, you let customers choose the channel that they are most comfortable with, he adds; and by doing that you increase the likelihood that they'll connect with your brand in any number of ways.

Unless you’ve been living as a recluse for the last few years, or you’ve chosen to ignore the technological advancement of the Internet, chances are that you have heard of the concept of social networking. The way that the world communicates in the 21st century has been completely transformed by this phenomenon.

Social networking is a web-based structure that allows persons who have common interests to interact freely online; sharing comments, ideas and stories. Some of the more popular networks include Facebook, Twitter, YouTube, LinkedIn and MySpace. Research indicates that avid social networkers will spend several hours per day communicating with their online friends.

While these online networks are largely used for entertainment and social interaction, the model offers tremendous potential for businesses as well. Recently, AMK Communications hosted the Caribbean SME Business Technology Exposition (CARIBIZTECH) which showcased several experts and presentations about the importance of social networking in the work environment.

Social networking in the Caribbean

DJ Newson, CEO of Newson Consultants, a firm which creates corporate social network strategies, emphasised that Caribbean businesses could not afford to ignore the power of the Internet as a key sales and marketing tool. He explained that social media could help companies to generate public exposure, increase traffic to their websites, and build new business partnerships.

To highlight the wide reach of social networks in our geographical area, Newson pointed to recent studies that showed that the Caribbean, with a total population of about 41 million people, had some 3.9 million Facebook users. This figure represented approximately 9.4 per cent penetration, he revealed, which meant that there were a significant number of people that could be accessed via this medium.

Newson underscored that word-of-mouth marketing - satisfied customers talking positively about a company - was an invaluable method of promoting a business. The very nature of social networking could allow businesses which participate in the process to gain credibility, influence buying situations, facilitate customer-to-customer interactions, solicit feedback, and encourage the selling and promotion of its products.

Getting started in social networking

With over 500 million users, Facebook is the king of all the networks; and it offers the most options for a business to create a meaningful online social presence. Here are some tips for networking newbies to get involved in this opportunity:

1. Start a personal account.

It’s free to sign up with Facebook and you can determine how much personal information you wish to share with the public and which details should remain private. If your primary reason for using Facebook is for business, ensure that you maintain a professional profile.

2. Search for friends and colleagues.

Follow the simple instructions to link your email address books with the site. Facebook’s search tools will find all your contacts that already have Facebook accounts and will allow you to send out friend requests. You’ll be amazed at how many people from your past you will discover in a short time, but you can always refuse to link with specific persons.

3. Create a business presence.

After putting your personal details, you can then create a Facebook fan page or a group to showcase your business. You can invite your Facebook friends to ‘like’ your page or group, which in turn gets reflected on their personal pages. This can encourage persons you don’t know to discover more about your company. Use a search engine such as Google to find a tutorial on the benefits of setting up these group pages.

 

4. Send out business updates

You can publish details about your products or services in the update box on your business page. However, due to the social nature of this arena, do not place basic advertising information with excessive links back to your website. This could be interpreted as ’spam’ and will definitely turn away people from your page. You should create updates that are entertaining and interesting to encourage people to read and follow your posts.

5. Offer exciting marketing promotions

Everybody loves getting something for free, and Facebook users are no different. You can create a buzz about your products and services by offering special discounts and deals for your followers, announcing new offerings first on Facebook, asking for feedback and ideas, and developing online contests where persons can win simple prizes.

 

6. Connect your business website

You can use the Facebook tools to put a link to your fan page on your business website, if you have one. This is a simple way for your website viewers to experience your up-to-date posts and participate in the social interaction that Facebook delivers. They will also see a trendy side to your business that might encourage long-term loyalty.

If you have a small business, you can easily create a presence on Facebook or any other social media by yourself. However, depending on your product offerings and your marketing strategy, it might be useful to hire a part-time worker to post updates or tweets. If necessary, contract a consultant who can help you to make the most of social networking.

.......................................

Cherryl is a financial consultant and coach, founder of Financially S.M.A.R.T. Services. See more of her work at www.financiallyfreenetwork.com and www.financiallysmartonline.com.

One of the major complaints that I receive from small business clients is that banks are too rigid in their demands whenever they are seeking financing. A common cry is that many financial institutions are happy to collect their money, but never show the same appreciation when a loan request is made. Anyone who has made pitch for financial assistance and left the bank rejected and dejected has probably wondered, “What exactly does this bank want from me anyway?”

Recently the Small Business Development Agency in association with Scotia Small Business held a workshop on strategic business planning to assist small organizations to grow their operations. Peter Mohan, manager of Scotiabank Morant Bay, gave an insightful presentation which revealed some key issues that bankers focus on when considering whether your loan application would be successful or not.

Mohan opened the participants’ eyes to the bankers’ point of view, by explaining why it was essential for business owners to prepare a plan with as much information and supporting material about their operations as possible. “Banks are concerned with the sustainability of your business, your ability to repay the loan, and the risks surrounding your operation,” he pointed out.

Mohan noted that an effective business plan would assist the loan officer to assess these keys areas of an organization. “The quality of the information presented indicates the strength of the business,” he emphasized. Whether they need a loan or not, a business plan would also help entrepreneurs to arrange their ideas, check the viability of their businesses and anticipate problems before they happen.

Let’s look at some key concerns revealed by the banker, which can help you to obtain financing, and to succeed in your venture:

Is your business sustainable?

The longevity of your enterprise will depend on how practical your business idea is, how you have structured the entity, and the controls you put in place. Consider these questions:

• - Do you have a vision for your business?
• - Does your business idea satisfy a real need in the marketplace?
• - Have you evaluated the market in terms of competition and suppliers?
• - How do you differentiate yourself from your competitors?
• - What systems are in place to ensure proper monitoring of business
• activities (cash, inventory, receivables, record-keeping)?
• - Is the business insured?
• - What succession plans are in place?

Can you repay the loan?

Mohan pointed out that banks lend other people’s money, so they have to be convinced about a borrower’s ability to repay the loan. This is why lending institutions insist that applicants provide realistic financial documents accompanied with supporting evidence. The records needed are:

(1) Balance Sheet

Bankers use this to get a picture of your asset base and the nature of your liabilities.

(2) Profit & Loss Statement

Lenders want to see sales projections that are realistic based on your business. They also want to assess if your expenses are projected to grow ahead of your sales.

(3) Cash Flow Statement

This reveals the net of your cash inflows and outflows and is really the key to the success of the business. Mohan noted that profit is not equal to cash flow; and that a business could show a profit but still be in trouble because the cash was not coming in sufficiently to pay the bills on time. To help manage cash flow, he recommended that business owners assess these areas:

• - Are your credit terms reasonable and give you enough time to pay your bills?
• - Are you carrying too much inventory?
• - Are you collecting from your creditors fast enough to meet your obligations?

What risks does your business face?

Risks to your business can come within and outside of your organization, Mohan revealed. Some of the external threats may be out of your control, but it’s wise to be aware of them when making projections. Some questions to consider include:

• - What is the state of the industry your business is a part of? It is under
• threat from economic forces or changes in technology?
• - Is your own product at risk? Can it be easily copied by competitors,
• or are you protected by patent?
• - Could your small business be swamped and overshadowed by a
• larger competitor with more resources?

Mohan stressed that it was important to prepare a simple, interesting executive summary which would grab the loan officer’s attention. He revealed that the summary was oftentimes the only part of the plan that was read, and it could determine whether the banker continued to look at the rest of the proposal. Scotiabank has a business plan outline on their website www.jamaica.scotiabank.com, to help entrepreneurs with their planning. You can also access an interactive business planner via at www.financiallysmartonline.com.

--------------------------------------------------------------

(c) Cherryl Hanson Simpson

Cherryl is a financial consultant and money coach, and founder of Financially S.M.A.R.T. Services. She is currently writing her first book "The 3 Ms of Money." See more of her work at www.financiallysmartadvice.com

Keep in contact

Following up with customers is a great way to increase sale. Send an email with a "thank you" note include an advertisement for other products you sell

Affiliate program

Setting up an affiliate program with your present customers, will allow them to earn commisson if they help you to sell your product. Giving customers the option of joining an affiliate program will multiply the sale you just made.

Cross promote

Cross promote your product with other businesses' products in a package deal is a very good idea. Add your ad or flyer for other products you sell and have other businesses selling for you.

Gift certificates

If you offer gift certificates on your website, you can tremendously increase your sales. Sell gift certificates for your products you sell, this will attract them to buy more products from you.

Offer Free Products

Who does like free products, veryone does. Make sure the freebies have your ad printed on them, for example bumper stickers, ball caps, t-shirts. Customers will see your products and make orders.

Google Adsense is one of the many ways a lot of websites and blogs generate a passive monthly income. Adsense allows you to place ads on your website or blog and each time someone clicks on one of those ads you make some money. Some people design multiple sites using Adsense Website Builder. You can easily design your website in minutes. The free trial program is designed to help you build your website and use Adsense to make your site a profitable one.

You can upload list of keywords without any limitations. When these keywords are placed on your site, it makes it easier for people to find. Keywords are tracked by all major search engines and the more strategically you use them, the more traffic you will generate. When it comes to using the Adsense Website Builder, the goal is to generate traffic. The more traffic your website gets, the more people will click on your ads, and therefore the more money you will make.

When it comes to creating websites for profit, advertising is key, but you can have a page full of ads and it won’t do you any good if you don’t have any traffic. The program also comes complete with a RSS pinger. An RSS ping is a signal that is sent out to all of the major websites anytime you publish new content on your site. This is included with the Adsense website builder, along with many other tools to help you grow and build your website.

Whether your plan is to design one site or several, you can go wrong with a program that’s easy to use and designed to help you sell! Download your free trial of the Adsense Website Builder and before you know it you could be generating a lucrative passive income.

When you decide to start a home based business, one of the main tasks you are going to have to take on is marketing. Promoting your business is going to take up the majority of your time in the beginning. Those who do not have any marketing skills may not feel that they are up to the task. What you may not realize is that there are no secrets to marketing your business. It’s all about learning the right way to do it and being consistent.

One of the first steps to start a home based business is to create a website for your business, even if your work is done locally. This website is going to ensure your target market that you own and operate a professional business. You can list the products or services you provide, as well as more information that will allow them to make an informed decision. Anyone who doesn’t have the skills to design a website will find many professional web designers online to choose from.

When learning about the various ways to promote your business, you will find a great opportunity in the various social networking sites on the Internet. Just a few of these sites are Facebook, LinkedIn, Squidoo, Twitter, and MySpace. Each of these sites will let you get the word out about your business. However, before you start using this as a strategy to bring in more business, study the different sites, their rules and regulations, and learn the correct protocol in marketing your business.

Another one of the great marketing strategies is article marketing. This can be very time consuming, but even if you own a local business, you will find it is a great way to provide your target market with information about your business and what you can provide for them. However, before you take on this task, do the research to make sure the articles you are writing is going to get your business the best results.

When you start a home based business, you are going to find the advantages are many. In the same sense, there are disadvantages and one of them may be your lack of experience with marketing. Do not let this deter you. Internet marketing can be learned quite easily. It will take some time to become an expert on the different strategies, but with time and patience, you will be able to learn how to promote your business and get the best results. Those who are having difficulty with their marketing will also have the option of hiring a marketing firm to assist them in this task.

The concept of this is for you to offer a subscription type product as an upsell or backend product. For example, if you're selling an ebook for $37 offer a subscription to a related e-zine for $9.95 a month.Instead of an e-zine, it could be monthly updated information for the ebook.

It's not just for e-books, you can make it work for any product or service you sell. Some subscriptionsthat might work for your product could be:

•  - e-mail/telephone consulting
• - a private or members only web site
• - print newsletters/magazines
• - product updates
• - subscription warrantees
• - product insurance
• - e-zine/webzines
• - the ideas are endless.....

The subscription product should be related to the'product or service you're selling. You could charge'a weekly, monthly, or yearly subscription for the'upsell product. You could sell your main product'and upsell product as a total subscription package'deal. You wouldn't charge the one-time price for'your main product; you would just charge the basic'subscription price of the upsell product.

The major benefits are that you don't have to keep creating new upsell and back end products. Once you get enough subscribers you won't have to sell anymore, you just keep generating income from your current subscribers. You would only have to sell again if you lost a lot of subscribers.

1. Interview Articles - You could compile an ebook or report of interviews you've given to experts from your particular industry.

2. Coupon eBook - You could compile an ebook full of coupons from other products you sell or from other businesses you've made coupon deals with.

3. Online Gallery - You could compile a free online gallery of pictures, graphs, charts, or graphics that is related to your target audience.

4. Webcam - You could set-up a webcam so your customers could view a particular environment or place they are interested in.

5. E-zine Archives - You could bundle all your old e-zine issues together into an e-book or member's web site.

6. Survey Results - You could compile together the results of all the surveys you've taken from your website visitors. It could be an ebook or reports.

7. Personal Journal - You could publish a personal journal of daily actions you take that's related to your particular industry.

8. Calendar Of Events - You could publish a list or ebook of events related to your target audience, It could be trade shows, seminars, fundraisers, etc.

9. Top Lists - You could publish a list or ebook of top ten lists that your customers would be interested in. It can be about related products, people, etc.

10. Email Discussion List - You could make a privatee-mail discussion list only for people that purchase your product.

1. You will create residual income. For example, if you charge a monthly subscription fee, you will get recurring income every month.

2. You won't have to spend all your time marketing to gain new subscribers. Just get and keep enough subscribers to reach your monthly income goal.

3. You can figure how many subscribers it'll take to meet your income goal. Note on your ad that you'll only accept a limited number of subscribers.

4. You won't have any shipping or materials costs like offline subscription publications. You'll just have your internet access and web site expenses.

5. You can sell back end or upsell products inside a fee based subscription ezine. It could be your own products or affiliate programs you've joined.

6. You can start an affiliate program that will give people residual commission. People will want to join because it's residual instead of one time sales.

7. You could publish a free ezine and allow people to upgrade to your fee based ezine. If they like your free one, they'll likely subscribe to your paid ezine.

 8. Your ad copy automatically builds itself into an order pulling machine. Each issue you archive gives you new benefits to add to your sales letter.

 9. You could transform your fee based content into another product to sell. It could be an ebook, video,audio book, report, book, etc.

10. You could become known as an expert on the topic of your fee based ezine. You may get hired by other businesses to do speaking engagements.