Tag Archives: information

5 Best Practices For Small Business Websites

A small business needs to work harder than its business counterparts do. While a big brand does not have a strict budget and resource, a small business needs to take every step carefully. It cannot experiment with strategies for too long, and therefore, has to follow a strict set of rules. However, every small business has the potential to outshine its peer group.

A small business’s official website is the platform that can get used to take the game to a whole new level. Are you wondering how this is possible? Some practices can help a small business grow, and increase its conversion rate.

Practice 1: Incorporating Informative Videos

Web visitors do not like to read long, textual content anymore. If they are looking for some information, the information should get delivered to them as fast as possible. Adding crisp, precise and informative videos is the perfect solution to the problem. Visitors will not only find you interesting, but you will also have enough whitespace to add something new.

Practice 2: Keeping the Navigation Predictable

You should keep the website navigation simple and clean. Web visitors should find it easy to find the information they want. As a small business, you cannot afford to lose even a single customer. Therefore, you need to do what your visitors are expecting you to do. It is better if you avoid using something smart like “Say Hello” when your visitors are expecting to see the “Contact Us” button.

Practice 3: Installing Analytics

Analytics will help you know what pages your visitors are finding nice and useful. Moreover, you will also get an idea about what pages are not attracting any visitor. Analytics will help you get amazing insights into the habits of your visitors. As you can guess already, this will help you improve the ineffective pages and make you work harder on the effective pages.

Practice 4: Launching a Mobile App

A small business mobile app is a very effective solution if you want to reach a wider audience. People are relying more on their mobile devices when it comes to surfing the Internet. As a result, they are now keener on getting everything on the go. A mobile app that talks about your business means that it will become easier for your customers to know about your recent activities.

Practice 5: Investing in Social Media and SEO

Both SEO and social media will give you a great amount of exposure. Search Engine Optimization or SEO is a necessity today. SEO can increase your visibility in the SERPs, and a higher ranking in the SERPs will bring you more visitors. Similarly, social media engagement will make your followers become more aware about your small business.

 

How to Buy a Small Business – Critical Risk Factors and Analysis of Buying a Small Business

Buying a Small Business is an exciting option but it can also be very risky. There are some critical factors which need to be taken into account during the business buying process.

It is helpful to have an accurate system of calculating risk factors and understanding their meaning to determine the right business for you.

Here are some risk factors to consider, associated with buying a small business:

1) Expected growth/Industry growth

2) Sales growth in business in the last three years and estimated future growth

3) The consistency and quality of earning

4) Degree and strength of competition

5) Location suitability

6) Present number of suppliers

7) Number of customers

8) Employee stability and quality

9) Entry level difficulties for new entrants

10) The time since the business was established

When looking at small businesses you are interested, it is wise to seek the services of a professional lawyer or a business accountant. Always make an analysis before buying a small business such as:

1) The new business opportunity should fulfill expectations

2) The returns should be in proportion to the hours spent on business activities

3) Find out the reasons the business is for sale

4) The growth probability should be high

5) An exit strategy should be planned in case things do not work

6) Find out whether any marketing strategy exists for the business or there is a need to develop one

7) The buyer should understand the cash flow requirements of the business in advance

8) The capital needed to begin operations should be determined in advance and arrangement of funds should be made accordingly

9) The accountant should always be asked to make the study of previous tax returns

Understanding how to buy a business using reliable, expert information will help you in making the right decision while buying a small business.

Tip: Your skills should match the business you are buying.

After Handover:
Small business owners may need to put more efforts into the business at least in the beginning. The business becomes less dependent on the owner as it develops.

Assets & Liabilities:
All the assets and liabilities associated with business should be known to calculate the net worth. The bank must be approached with all the information and inquiries must be made about the amount that can be borrowed to finance a deal.

Inventory:
The inventories list should be checked for any obsolete material before buying a small business.

A quick initial business evaluation has to be done to check whether the business is worthwhile pursuing. A comprehensive checklist is highly recommended to help every step of the way.

Tip: It is a huge advantage to understand and know the true value of any small business you are looking to buy. While many business buyers automatically head to a business broker or business valuation practitioner, they are unaware that the same information can be sourced for free or a fraction of the cost and often provides more information specifically with the business buyer in mind.

 

Effective PR For a Small Business on a Budget – Get Local and Get Online!

If yours is like most small businesses, you can’t afford the luxury of a PR department, much less a dedicated PR agency or even one employee responsible for external communications and PR. However, this business function is critical as the world of communications continues to expand with new applications, demands and opportunities like social media networks. The thought of a concerted PR strategy and execution can be overwhelming for a small business owner, but it doesn’t have to be. There are two primary elements of PR for a small business to engage upon – leveraging online and local offline outlets. The old world of face-to-face will continue to be critical in building your PR strategy and overall business, but let’s face it – the environment has changed, and you simply can’t ignore the power of the Web, particularly social networks. Proactively getting your business out in the community while leveraging the Web will ensure the success of your PR strategy. And, these tactics are not expensive; in fact, many present opportunities for free PR for your small business.

These PR strategy tips are designed for those small businesses that simply don’t have budget allocated toward hiring and retaining a communications expert. If you are a smaller company, hopefully you can take a few tips below to integrate PR into your small business to help build a brand and generate leads. Utilizing informative, valuable PR about your small business gives you the opportunity to influence people and lead them to your destination – your website, your store, your offering. Take advantage of what’s out there! Get online and get local – it’s that simple.

Growing Your PR Strategy

Grow Online

If you don’t have a website, you need to get one immediately. Today, you can get a starter site for free or within your communications packages from your voice and data provider. If it’s in the package, then it’s a no-brainer. If you have a website, then make sure it’s dynamic (video, blogs, and communities) to ensure your target audience comes back and builds a relationship with you and your brand. It’s a requirement in today’s online world; the days of stagnant sites are over. Then, once you have your interactive site, make sure you optimize your website and everything you say about your business online to ensure your potential customers are finding you online when they search. This is a key part of your online PR strategy. Don’t you search Google or Bing to find what you need a pinch? It’s called Search Engine Optimization (SEO) and it can be an affordable way to create additional PR for your small business — and it’s often found in your communications and IT packages. At the very least, getting a URL allows you to be FOUND online and that’s key. Google now provides maps when visitors are looking for a specific service in a specific area. By simply having an Internet address – you can be found online looking professional with a map to your location and link to your business, which is pretty cool.

The Wild World of Social Media

You have probably heard about “social media” and you may already be taking part. For many, however, the world of Twitter, Facebook, Linked In, blogs, vlogs and status updates may be a bit unsettling. Suffice it to say – these are powerful tools to help you carry out your PR strategy, especially when used properly to connect, communicate and yes, to sell.

As a small business, you can’t afford NOT to take part. It’s easy and affordable, so don’t waste anymore time. Of course, you do need to understand how best to engage before you jump in. Here are a few quick ways to start creating more PR for your small business:

1 – Create a Twitter profile and gain followers by “Tweeting” about your business, surrounding businesses and community topics that map back to your business. Build buzz about what you provide – can you Tweet special coupons? Can you give advice? Can you share relevant information to your community? Do you have an event you want to invite local prospects to? Twitter, an emerging PR strategy with an increasing audience, is a great way to quickly (140 characters or less) get a message out and position yourself as a leader. Remember, it’s not all about you; you must talk about the world around you to make an impact. Start off Tweeting about your business, but quickly begin integrating Tweets about your customers, your community, and your industry – and the most important part is to provide some kind of value or benefit in your tweets. Be respectable as well. And if you see someone comment about your business online (good or bad) – respond online for all to see. It’s a great way to show you are committed to your customers. The cost to you? It’s essentially free PR for your small business.

2 – Create free profiles on Linked In and Facebook. All you need for Linked In is a profile of you, and from there, you can create a group where you can share stories, news, and other PR about your small business. People can ping you for questions which positions you as an expert and, you can join interest groups that will help you track what other potential buyers in your community do, say and think. For Facebook, simply select “business” on the homepage to create a business “fan” page. Local residents, family and friends can then become “fans” of your company, which is an easy way to highlight the most recent PR about your small business. All you have to do is commit to posting news, updates, coupons, photos and other interactive content to get people engaged. Remember – provide a benefit – a reason for your “fans” to come back for more.

In addition to these PR strategy tips, there are local meet-up groups in every community that often originate from the Web, and then meet offline to have a real interactive discussion. Check out Meetup.com in your area to find one.

Confused about this new world of social media? Read Groundswell by two Forrester Research analysts, Charlene Li and Josh Bernoff. This book will set you straight and get you excited about the opportunities out there in terms of online PR for your small business.

Grow Local

Much like how consumers like to buy from locally grown farms, small businesses tend to buy from their peers – other small businesses. An effective PR strategy is all about supporting your local communities, and these days, that’s more important than ever. Keeping this in mind, focus on your community by generating PR for your small business at local events. Depending on your business, there are often specialty groups for different types of businesses such as professional service specialty groups. Often these groups gather monthly or quarterly to share best practices and to network. There are certainly general small business groups in your community such as your local Chamber that meet regularly as well. Beyond networking events, you can get ink for your business. Most Chambers have monthly newsletters or emails. Do you have something to say? Could you contribute twice a year with a special promotion to drive people to your business? Take advantage of these opportunities to fuel word-of-mouth marketing through PR for your small business. Hand out business cards, build relationships and follow-up. These opportunities are right outside your door.

Think grassroots.

Shake hands with other small businesses owners, refer each other and grow your business. To improve PR for your small business, think about what events are taking place this weekend where you could set up space, hand out collateral, serve up some hotdogs, and generate solid leads. Is there an art show or “Taste Of” type of event? Don’t take it all on yourself; partner with other local businesses right in your area to split costs and cross-sell to each other’s customers. A hand-shake goes a long way towards an effective PR strategy. Add a coupon and see the results. Most communities have annual events that bring hundreds/thousands of people – target those. In terms of PR for a small business, the best thing you can do is to connect directly to your audience by showing your personality and your value – get out there!

Leverage Local Media.

Another important element of your PR strategy involves local brand development, which means building relationships with local media. Yes, there is still benefit in reaching out to traditional media when it comes to PR for your small business. Take a moment to find out who your local reporters are and introduce yourself. Share with your new media contacts areas of expertise that you would be able to discuss if requested. If you create a relationship with your local media and have something compelling or contrarian to say, chances are they will call you when they need your input. Consider a quick email to your local reporters with an introduction, a quick reference of your expertise and what you could comment on. Being timely and relevant is critical to your PR strategy. Offer a cup of coffee. Those relationships can go a long way when you really want to make noise in the community. It’s important to know that if you want coverage and/or additional PR for your small business – you won’t get it with a cold pitch. You must: 1) – establish a relationship; 2) – have news to share that’s relevant, unique or at least different; and 3) – have a product/or service that is remarkable. These rules ring true for influential bloggers as well. For more on being remarkable, read Seth Godin’s Purple Cow – a great, quick read that will get you thinking about how to stand out from the rest to grow your business.

Blending Old and New: Building PR for a Small Business

Hopefully these PR strategy tips will help you build a brand for your small business and generate new and recurring business via PR. Communicating to customers and enabling them to communicate back to you is essential in today’s social world of media. However, what remains important today as it did 100 years ago is the face-to-face interaction. Nothing will replace it, so make sure you show your face and personality in the community. Coupling the old with the new will ensure a successful PR strategy for your small business.