Corporate TV as an Integral Part of Modern Internal Communication

corporate-tv

Utilizing corporate TV can be a crucial aspect of your company. Getting “in the zone” is a different experience for everyone. Some individuals find that working in complete quiet is the best way to get things done. However, for others, such a setting is uncomfortable, necessitating an external distraction to keep them from losing their train of thought while pondering the next step.

We live in a world where we are always looking at a second or even third screen. When Scandal’s season finale airs, we will be tweeting and updating our fantasy football page. Visual multitasking is becoming a more prevalent practice as mobile devices and tablets become more widely available. Splitting our focus is becoming more and more common in our modern lives.

Can corporate TV be utilized to increase corporate communication in the present era? Even if you are not working in a newspaper, it is unnecessary to have 30 televisions shouting all the current events you can get your hands on, unless, of course, this is your job. A break room or lobby is ideal since you may choose whether or not to tune in or out at any given time. Ensure you look for different communication strategies to enhance internal communication in your business. In light of this, let’s look at the role of corporate TV in modern internal communication: 

Facilitating involvement and productivity in the workplace with corporate TV

corporate-tv

When it comes to keeping your workers interested and informed, it doesn’t matter whether you are a small start-up with only five employees or a global organization with thousands of employees throughout the globe. On the other hand, corporate television will accomplish the job for you.

Employees are 20-25% more productive when they feel valued and engaged, which in turn increases your business’s productivity and profitability. Communication is a significant predictor of work satisfaction. Your workers will get more value for their money if you use corporate TVs to display digital signage. It is essential to show your staff what is going on at work, both in their own office and firm.

Understanding the company culture 

Even though internal marketing is not as well-understood as external marketing, it is critical. You must communicate your company’s goals, goods, and services to your staff, not only to your consumers. Employees that know and can sell your company’s products and services are a need. It would help if you also had them be aware of your company’s core principles. It will allow you to convert your brand’s personality into the conduct of your employees.

Many businesses still use the tried-and-true tactics of posters and emails for advertising. However, many workers’ email inboxes are being bombarded with spam, which means many emails are being unread. They might also be read then promptly discarded after the recipient has moved to the next email in their inbox. Solution: Stream critical information to displays in your frequently visited areas utilizing digital signage software and corporate television. It is the most excellent method to ensure that your staff gets the information they need to succeed in the digital world.

Streamlining communication between employees with corporate TV

If you want to make important news to your company’s employees, consider how you may do it. You send an email and a meeting to the whole business, yet someone always misses it. Even if you are able to catch up to this guy, you will throw off the operations of your entire team. If you are looking for a way to get people’s attention and share information quickly, corporate TV is an excellent choice.

Passing announcements and notices

You may use a corporate TV instead of a notice board to show critical messages and announcements. With digital signage, you may show department-specific information if you have many departments or offices in your firm. Companies often conduct ice-breaking activities to improve communication amongst workers, but their involvement is required to make that happen.

Displaying employee benefit programs via corporate TV

Ensure workers know your company’s benefits, such as Employee Assistance Programs and Training courses. The display screen should include employee benefits packages to pick the workers’ attention. They are more likely to join if they discover a program that might help them advance their careers, finances, or personal lives.

Use corporate TV to show a dashboard of the business

corporate-tv

A company’s data is its lifeblood. Sales analytics, online customer interactions, risk analyses, and supply chain status updates all need to be communicated to your whole staff at the same time. If you use various data sets, everyone’s efforts may be in vain.

A personalized approach is feasible to provide relevant and correct information to every employee. Even yet, seeing facts on corporate TV has a much more significant effect than doing it on a tiny Mac screen. Large displays, or even an entire wall of screens, might be placed in an area where all workers can view them.

Display KPIs and other critical data on these panels as part of a corporate dashboard. Making this data readily available helps workers carry out their responsibilities and coordinate their efforts with their colleagues. Displaying your organization’s progress toward its objectives helps spot difficulties, keeps track of triumphs, and inspires everyone engaged in the company.

To advertise any internal events that might be happening

In this case, if just 31% of your employees showed up to a corporate function, how would you feel? That is the typical click-through rate for internal event emails. You must also remember that an opened email does not always mean that someone will attend your event. Internal newsletters are being replaced by more effective methods of communication like digital displays. A digital signs monitor ensures that everyone arrives on time for meetings, training, and other internal activities.

If you want your firm to succeed, you need a joyful, efficient workplace where workers feel invested in the company’s goal and where cooperation flourishes. Businesses in the digital age need effective methods of internal communication that encourage teamwork and cooperation.

It’s time for you to leverage the potential of corporate TV to develop your organization’s internal communication. It is practical, failsafe, and a result-driven technique to boost communication with workers.

Many firms find it tough to create close connections with their staff. And it is clear since excessive objectives, deadlines, and less contact with workers steer firms away from building long-term relationships with their employees. Set up corporate TV to boost internal communication and establish affinity with workers.

 

small business coach

Search Engine Optimization: Can You DIY in 2022?

Search Engine Optimization

Search Engine Optimization

When you have a website or other online presence, you know that you need to use SEO or Search Engine Optimization to get your business links ranked at the top of internet searches. But can you do it yourself?

Can You Do Your Own Search Engine Optimization?

My answer is yes, as part of a guerilla marketing strategy. Eventually as you grow your business you will likely hire an expert, but in the beginning there are a number of things you can to improve your rankings.

Doing Search Engine Optimization is a lot of work

Search engine optimization is a lot of work and requires learning some things about the internet. Even though SEO is a good strategy to make your website known and to get more leads and customers, it takes time and effort. Starting out, read some related blogs or articles. Watch a webinar. Ask other business owners and partners how they tackle this truly important strategy.

With SEO, there are plenty of things you can do on your own that won’t cost you anything but a few brain cells:

Know Your Business Keywords

As you attempt doing your own search engine optimization, the first focus point should be keyword research. You must know the words or phrases people are using to find your products or services, which drive them from search engines to your web site or social media channel.

While you know the names, characteristics, catchwords, and jargon associated with your offerings, don’t assume that buyers do. Do a little digging to discover the verbiage being used in internet searches – try using some free tools like Google Ads or Google Keyword Planner.

Future outlook for Search Engine Optimization

Voice searches are rising, and are expected to be used for half of all searches. This will necessitate using more conversational phrases instead of individual keywords.

Check Out Your Business Competition

Looking at your competition’s online presence can help you figure out how you can get more visitors and sales. While you shouldn’t just copy what your competitors are doing, it can be quite useful to see what they do and how they do it.

Conduct your own searches for services or products that you offer. Click on the website results that Google returns and do a little investigating:

  • How does your competitor rank in search results compared to your company?
  • Do they have a comparable business model to yours (similar pricing structure, services, products, online storefront)?
  • What they are doing well (branding, easier navigation, more photos or testimonials)?
  • How do they engage with their prospects (pop-ups, videos, trade shows, person-to-person, etc.)?

How Social Media Can Help Search Engine Optimization

Platforms like Facebook, Instagram, Twitter, LinkedIn, and YouTube are incredibly important in terms of search engine optimization.

While having a YouTube channel doesn’t by itself rank you higher in search results, it starts a chain of events that does. Worthwhile content gets followers, who share links with others … your brand grows, traffic increases to your site … website shows up higher in searches.

If you don’t have a social media page, build one! It continues to be one of the best ways to share your content and to drive more targeted traffic to you.

Think Your SEO Strategy Through

After completing the earlier steps, you can now look at your website from a different perspective. You should have a clearer idea about what your target audience is looking for and how your competitors are offering it.

Now, take a look at your website again. Choose the most important pages and the right keywords to get consumers there. Driving traffic to these pages is what will create interest, draw them into a funnel and, ultimately, make a sale.  There are many companies out there that are better than outreach monks when it comes to link building.

Recommendations to Improve Your SEO:

Pop-ups within your site are a great method to drive your web visitors to connect with your sales team or to go where your products and services can be purchased. Be careful in your design, though – as of 2017, “intrusive” pop‑ups (ones which that a mobile user has to dismiss before being able to access the main content of the page) will get you penalized by Google.

Include your target keywords in: content, images, all types of links, and in URL slugs (ex: www.mywebsite.co/keyword).

Polish up your content – it should be:

…   typo-free

…   professionally written

…   keyword-rich

…   mobile-optimized (test it)

…   of value and relevance to your target audience

Optimize your website by:

  • following Google guidelines
  • avoiding broken links
  • partnering with other site owners to provide backlinks to each other’s pages
  • making it user-friendly (test that, too)

Keep it Your Content Fresh

Content is crucial in any SEO strategy. However, we understand that you may not have the time to publish a blog post every day.

You just need to strike that balance in making Google happy by publishing new content frequently. The main focus should always be ensuring that your content is unique, valuable, and consistently refreshed. Good, relevant content ensures people will share it.

Remove stale website copy

Don’t forget that publishing content with relevant keywords is not just about text – there’s also videos, photographs, imagery, and infographics, among others.

Analyze Your SEO Results

Measuring your results is crucial to knowing if your efforts and strategy are paying off. After all, how can you know which page gets the most visitors? Or the pages where your bounce rate is higher? Or what content leads directly to purchases?

Find the right website analytic tool for you, based on the data you want to collect as well as its ease of use, power, and cost. There’s Google Analytics, SEMrush, and Clicky, to name a few. 

SEO may not be what you thought would keep you up nights, but it can’t be ignored in the quest to guide traffic to your stuff.

Summary: Be Persistent With Your SEO

Unfortunately, SEO is not a once-and-done job. Due to the continually changing universe of factors like search engine formulas, terminology, marketing trends, and user devices, you’ll need to regularly review and analyze what gets your links high on search results and drives consumers to your products and services.

 

small business coach

Creative (and Free!) Ways to Grow Your Business in 2022

grow your business

Creative and Free Ways to Grow Your Business

As you may know, getting word-of-mouth business is one of the most powerful ways to grow your business. Below are some creative ways to “prime the pump” and get others to promote and grow your business and refer you…..and all of these things are free!

Do Press Releases.

Your local media is always looking for current news events. Every time you hire someone, promote someone, receive an award, have a grand reopening, move to a new location, or anything else of note write a press release. Find out who your local business editors are and send them an email with your news. Many of your releases will be printed by the local newspapers. Also from time to time a writer may contact you to write an article about your services… maybe even a front page article with your photo!

Barter Your Services.

Bartering is trading services and products with another individual or company. A throwback from the past, bartering has become quite popular again. Some business owners even find professionals to help them with trade execution services, which lowers the friction in their trading activities.

Think about the kinds of services that you are presently paying to use. Some examples may include accountants, advertising companies, attorneys, automobile mechanics, chiropractors, doctors, graphic designers, HVAC contractors, roofers, plumbers, sales trainers, etc. These small business people may need your service and you may need their services. Trade retail to retail. This is a great way to get business experience and their services in return.

Join Bartering Clubs.

Join a bartering club and you get free marketing of your service. Some clubs will even provide an unlimited amount of promotions of your services in their e-newsletters. When you provide your services the retail amount of your services go into a bank, less the broker fee which is typically around 6%. Then you can spend your barter dollars with other barter club members….restaurants, hotels, service providers, advertisers, social media experts, you name it.

Free Services to Referral Sources.

One great way to get endorsements and referrals is to provide free services to high profile people and to service providers such as accountants, attorneys or bankers or any other service provider that works you’re your prospects. Your agreement at the beginning of the relationship is that you will receive endorsements and referrals from your client in exchange for your services.

Offer Gift Certificates for Free or Discounted Services.

Chambers of Commerce, Civic Clubs and Charities are always looking for donations for special events. You can select the time of day, week or year to coincide with your slow times. Freely give out gift certificates for a free or discounted service. Your name will be promoted by the organization and you will get exposure to business owners when you provide the free service. If you do a good job with the service you may get a client, a referral or both!

Make Referrals.

Be generous in making referrals to others and you will receive in like manner. Be attentive when talking with others about a service they need and service providers that you may connect them with.

Get Testimonials.

Make sure you always get testimonials for your services every time whether a barter client, free coaching client or a paid client. The reason most clients don’t give a testimonial is because you haven’t made it easy enough for the client. Simply bring your pen and paper to your meeting or your phone call and ask the client how they benefited from your coaching. Jot down their response, then type it up for them and send them an email requesting their approval. If they are very busy this may also require a follow up phone call. Once you have their approval you can place on your website, your marketing materials or even on your office wall. One extra thing you can do is send them a LinkedIn request for a recommendation. Ask your client to copy and paste the testimonial into the LinkedIn field that is provided to them.

Partner With Complementary Businesses.

If you do your job as a service provider, you will become a trusted advisor with your clients. This will place you in a great position to recommend your clients to all kinds of service providers; web designers, graphic designers, banks, accountants, the list goes on and on. These B2B companies likewise are in a position to refer you as well. You can be intentional with these complementary businesses and become strategic partners. Plan to help each other.

Co-Brand.

Another step you can take with strategic partners is to jointly market and promote your businesses. You can create marketing materials, advertising campaigns, business socials, etc. with your strategic partners.

Using these free ideas to grow your business can make a big impact on your profits. Check out the strategies below to ramp things up even faster!

Questions about our small business coaching services?

Call us at 1-888-504-0777,

or 

Enter your information below to start growing your revenues and profits today…

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7 Tips To Make A Web App

web-app

For any business, small, medium, or large, a web app is the most effective way of interacting with potential clients and customers.

However, not all web apps are the same. If your web application does not appeal to the users, they are not likely to continue using it.

In fact, 38% of users stop using website applications if the layout does not appeal to them.

Everyone loves a web app which comes with a nice interface design and is functional — be it the business owner or the user. On the other hand, very few know how to make a functional app. We are not talking about the coding complexities here, rather their approach towards developing the app.

If you already have an app idea in mind, this guide will be really handy for you. We have put together seven tips that will make the web development process easier than you imagined. 

7 Tips to make a web app

web-app

Before we delve into the tips, let’s be clear that this is not a coding manual. We will discuss the seven most important factors that app developers often miss out on or fail to understand.

The goal is to make the web app as user-friendly as possible without cutting down on important functionalities.

There is also a marketing component to any website application. If your domain is already saturated, you need to break the mold and do something new.

So without wasting time, let’s dive into the seven tips to make a web app. 

1. Do a market research

When it comes to the fundamentals, a web app is a product that you are trying to sell. If many people find your application helpful, it will be a success. On the contrary, even technically perfect web apps will be a failure if people do not find much value in them. So before you start developing your application, research its market potential.

When you are doing market research, take into account what needs and demands are on the rise. Then think of ways to meet these demands through a web app. If you can identify a scarcity and capitalize on it, you will soon have a product that everyone wants.

Another important element of market research is finding ways to promote your web app. Here again, you will have to identify a particular problem and the demographics of the people who want a solution to it. Once you have identified who these people are, you can target your promotions at this group. Promoting your app is crucial since people need to know about it first to start using it.

2. Analyze competition

While competition analysis can be a part of market research, it has some distinct elements that deserve separate mention.

When you are analyzing competition, you also have a chance of noting what they are doing right. At the same time, you can also figure out their flaws and work on them.

Your competitors will greatly influence how you design and develop your app. You will need to find an edge-something that is lacking in your competitors. If you are offering the same product as everyone else, people would rather prefer the one they are familiar with. When launching a new web app, you have to ensure that it is unique and not a carbon copy of other web apps.

However, you must not overdo it in attempting to break out of the mold. If you end up making something so unique that people are intimated to use it, your application will be a failure. 

3. Design your web app with a purpose

The first thing about your web app that people will notice is its design. If you get all the design elements right, half the race is won.

With respect to web app development, design is a vast subject that deserves detailed study. It is not possible to sum up everything about it in a few words and you would need skills and expertise to get it right.

Do not overdo useful elements in your web app. For example, tabs are an extremely useful feature for easy navigation. However, if you use too many tabs your application will look more cluttered than anything else.

You must also label everything correctly. Keep in mind that people of varied competency levels will use your application. If you label things correctly, anyone from a child to an aged person can use your app. You would not want to assume any level of competency from the user. Provide all necessary guidelines in the design itself to make it easy for everyone.

Do not compromise on the design of your web app to save cost or time. In the long run, you’ll lose more than what you gain.

4. Pay attention to texts

The words you use in your web app user interface will make a world of difference. Steer clear from using any tech jargon that a layman won’t understand. How you structure the words and sentences also have a great impact which we often overlook.

Writing copies for a web app is not easy, considering that it has to be both short yet explanatory. If you clutter your web app with too much text, it will become visually unpleasant. The challenge is to communicate as much information as you can using as few words as possible.

Text in a web app has to have a universal appeal. Using internet slang or informal words is usually not a good idea. However, if you can be quirky while maintaining a degree of universal appeal, it can work wonders. 

5. Have a standardized process

There are multiple web app building architectures out there, and using too many of them will cause major problems. The first problem will show up when a new developer joins your team or an old one leaves. If each of them has expertise in different architectures, maintaining your app will become a hassle.

Maintaining a web app is more crucial than launching it. If you are using different architectures, the next developer would have problems with repairing and troubleshooting. 

For example, if you are using both TypeScript and JavaScript, you might encounter problems with issues like JavaScript email validation. Maintaining a standardized structure will make the development process faster and easier. You have to choose a web development architecture based on your goals and needs. The most important thing is to stick to your choice of architecture. 

6. Prioritize security on your web app

When people are using your web app, you are dealing with user information. For web apps with payment gateways, user information is even more sensitive. Ensuring security is mandatory for any web app. If you do not prioritize security, a cyber attack on your web app can ruin your reputation.

You can ensure top-notch security by having a trained team of developers. These developers have to work in tandem to make sure there are no threats or vulnerabilities. It is an intensive task and demands specialized skills.

A viable alternative is to outsource the work to a cybersecurity firm. These firms have competent teams working round the clock to keep your website secure. 

While it may seem like an unnecessary investment, it is indeed the most important investment for the long-term success and growth of your web apps. 

7. Encourage users to leave feedback and work on them

web-app

Creating a web app is a continuous process. It does not stop once the application is up and running. Apart from routine maintenance, it is also important to take user experience into account.

Always keep a feedback option in all your web applications. Make the feedback option easy to use and simple. If you want people to fill out a survey, many will ignore it. Instead, choose something less time-consuming and easy to do.

Getting feedback is the first step. You also need to take this feedback into account when you make changes to your web app. 

Remember that your users determine the success or failure of your application. Respect their opinion and try to incorporate as much as feasible.

Make a conscious effort to persuade users to leave feedback. Remember that only negative feedback will give you room for growth. When you get any negative feedback, assess it from every perspective to see what can be done.

Receiving feedback and working on it also makes your web app future-proof. You need to keep up with both changing technology and human needs. If you are using outdated technology or design, people would no longer find your application engaging. 

Constant feedback tells you what people want and what are the prevailing trends. It is crucial to pay close attention to every single feedback you get. 

Conclusion

As you can understand by now, creating a web app is not easy. You need skills in every domain, be it technology, marketing, or customer interaction. 

We get a good web app only when all these elements work together. Pay equal attention to every point, and your web app will be on its path to success.

 Author bio

Atreyee Chowdhury works full-time as a Content Manager with a Fortune 1 retail giant. 

Do you want to engage your target audience with informative and engaging content? You can reach her at [email protected] for any content writing/copywriting requirements. She is passionate about writing and helped many businesses achieve their content marketing goals with her compelling content. She loves to read, travel, and experiment with different cuisines in her free time.   

 

small business coach

6 Tips to Increase Your Business Value

business-value

Six Tips for Increasing the Value of Your Business

Owning a business represents a life’s work for most people, an emblem of their vision, creativity, determination, and perseverance. Needless to say, your business value is one of the most important factors to success. As a result, when the time to sell eventually comes around, business owners will want to receive top dollar for their company. While businesses are ultimately valued for their ability to generate growing profits in the years to come, the following 6 tips can help in this regard and increase the value of your business in the eyes of potential buyers. 

1. Get Your Documentation in Order

One of the best ways to increase the value of your business is to, well, know the value of your business. Investors will assess your business on a number of factors, such as debt-to-income, free cash flow, and projected sales growth. In the end, if they see that your business is in a strong position to provide them a healthy return on their invested dollar, your business’ valuation will skyrocket.

The problem is that many small business owners have no idea on how to value a business. Business valuation requires a unique mix of tangible and intangible considerations. Among the tangible factors that can influence a business’ valuation include EBITDA, profits vs. cash flow, trends in profit, and percent of market share. General accounting financials, such as balance sheets, income statements, and tax returns, are also important to compare on a year-over-year basis. On the intangible side, pending legal rulings, brand image, the business’ sustainability practices, and goodwill in the community are all important factors that can drive value. 

Having organized documentation for the business may be difficult for the business owner amid the grind of day-to-day operations. Therefore, it is a good idea to work closely with professional accountants, attorneys, and business brokers when forming a business valuation. While there may be up-front costs for these professional services, having an accurate assessment of the business’ worth is an important first step in laying the foundation for increasing value. 

2. Demonstrate Scalability to Help Business Value

business-value

A scalable business does not have to spend more money to make an additional sale, allowing profit margins to increase alongside revenue. Scalable businesses are attractive to potential buyers because hypergrowth scenarios are possible with the correct marketing and execution, as owners can focus on running the business without the need for significant capital expenditures.

One step that businesses are taking to ensure greater scalability is to incorporate subscriptions into their business model. In general, it does not cost businesses much more money to sell an additional subscription. This has caused subscription models to proliferate across a wide range of industries, with car subscription services, alone, set to increase by 71% by 2022. 

3. Take Steps to Ensure Employee Loyalty

As many businesses scramble to find ways to leverage technology and increase automation in their operations, it may seem intuitive to believe that employees are less important than ever. However, there are a couple of reasons to reconsider this notion.

First, potential buyers are likely to be attracted to those businesses that come with high-performing employees, as it will save them time and resources in recruiting, hiring, and training their workforce. In fact, statistics show that businesses spend more than $4,100 per new hire, so businesses coming with a ready-made staff will be highly appealing.  

In addition, customers are more likely to choose businesses with a strong reputation of treating employees well, with 29% of a surveyed sample saying that how a business treats their employees is a significant determining factor for whether they will become a loyal customer. Therefore, if you regularly explore ways to make employees feel valued and solidify their loyalty, it has the potential to greatly increase the company’s value.  

4. Improve Your Business Space

As many businesses continue to explore ways to increase remote work and contactless order fulfillment, those companies with physical locations must find creative ways to optimize their business spaces. One idea involves using large windows and open spaces to increase natural light flow, which provides a more inviting ambience to attract customers and lowers utility requirements. In addition, it is important to design physical spaces in an adaptable manner, allowing the area to be shared with other patrons or rented out for special occasions.   

5. Increase the Convenience of Your Offerings

Fast food and drive-thru windows are an early example of the premium customers are willing to pay for convenience. Since the COVID-19 pandemic, delivery and curb-side pickup have also taken off. Finally, the continuing movement toward ecommerce has many customers choosing the convenience of online orders as opposed to visiting physical storefronts.

Therefore, any features that can add convenience to the customer experience are a great means of increasing your business’ value. In addition to the aforementioned features (if applicable), some other ideas for adding convenience include:

  • Business-specific apps that allow for quicker shopping and faster payment
  • Favorable shipping costs and terms
  • 24/7 accessibility
  • Subscriptions and recurring purchases so customers don’t have to remember to make a purchase. Just remember to make out opt-out avenues easy to locate

6. Add Automation as You Increase Your Business Value

business-value

Although it is critical to have a loyal and high-performing staff to appeal to potential buyers, there is no denying that automation will have a positive impact on valuation. Business investors will savor the idea of not having to pay salary, benefits, and time off for every single business function.

Self-checkout kiosks are an obvious choice for businesses that feature a physical storefront. However, even for businesses that are strictly online, there are still ways to add automation. Ecommerce CRM processes, feedback templates, chat bots, contactless payroll, and order fulfilment software are all ways to increase business value while reducing the work required on the part of the business owner.

Increase Your Business Value

As a business owner, it is essential to take steps to increase the value of the business in order to receive top dollar at the time of sale. By getting documentation in order, demonstrating scalability, ensuring employee loyalty, improving the business space, increasing the convenience of offerings, and adding automation, business owners can increase the value of their business and appeal to a wider range of prospective buyers.

 

small business coach

7 Qualities That Every Entrepreneur Must Have For Their Small Business

Small businesses are taking charge of the business market like never before, and it is considered the backbone of the world’s economy. Technological advancements and people’s necessity are the key factors why being an entrepreneur is uplifting and more people choose entrepreneurship as their career. Today, we will discuss some of the qualities that every entrepreneur should have to run their small business. 

An entrepreneur is a person that must have multiple abilities and qualities because entrepreneurship is a very dynamic career. It is a very demanding career, and one should have the proper attributes and qualities to withstand. Although, it is something that has a lot of scopes and is one of the exciting careers to move forward with. 

There are lot of scope and opportunities in this advanced tech world, and those aspiring entrepreneurs can grab and establish their small businesses. According to The Hill, there are more than 500 million entrepreneurs in the entire world. 

Small businesses have more scope to succeed these days as they are profitable, and a good entrepreneur always comes up with profitable ideas to start their business. There is no harm in starting your venture as a small business because even the biggest MNCs today started with the smallest of investments. 

What Is The Role Of An Entrepreneur?

entrepreneur

The role of an entrepreneur is diversified, especially when you are setting up your small business. Sometimes, only an entrepreneur starts running the business with no staff and employs due to lack of resources for having dedicated staff for running business initially. The entrepreneur’s role is to make sure the venture you are running has resources and fulfills the business’s demand. 

Running a small business is a very demanding job, and an entrepreneur is responsible for handling the etiquettes of business from planning to execution to creating opportunities and ensuring success. These are the duties that an entrepreneur needs to do for their business.

Qualities Of An Ideal Entrepreneur

 

1. Inventiveness

The small business entrepreneur needs to create innovative ideas, especially for their marketing, as they don’t always have enough budgets. Inventive ideas like video marketing and creating video content with creativity are something that quality entrepreneurs can generate. 

Every small business has unique marketing needs, and referring to the source from Elluminati Inc on how to create innovative videos for small businesses, one can know the kind of innovative idea that entrepreneurs need to generate. 

2. Passion

Passion forces you to become an entrepreneur, but you will lack some passion if others have forced you to be an entrepreneur. Earlier, we discussed that being an entrepreneur is a very demanding job. If you have passion for your small business, you will start fulfilling the demand without getting tired or exhausted because it is your passion. Hence, this is the reason this quality is required to be a successful entrepreneur. 

3. Self-Motivated

Self-motivation is an essential quality that an entrepreneur should have these days because there will be times when you need the motivation to continue and move forward. Business can have ups and downs, and entrepreneurs can have self-motivation and move ahead rather than get demotivated, which can end up losing interest. The biggest source of motivation is inside you, and hence, you need to find it for being self-motivated. 

4. Persistence

The entrepreneur’s quality to persist in the worst of situations and move forward is always tested when running a small business. The complexity in business is very common, and there will be times when you lack resources and are not able to find the resources to fill the gap. There can be a lack of revenues, and you don’t know how to find capital. The increase in the composition is also one of the factors where persistence is important. 

5. Adaptability

Adaptability is the quality that all of us require universally because change is constant, and you need to adapt to the change as time moves forward. The same philosophy goes for entrepreneurs running their ventures. As all the controlling factors are not in our hands, there are dependencies on the exterior market conditions for the small businesses. 

The market dynamics keep on fluctuating, and an entrepreneur with the quality to be adaptable will always find a way to succeed in the fluctuating market. 

6. Decision-Making

Decision-making is a skill that is very important because, as an entrepreneur, there will be stages when you need to make decisions. Those are important decisions because the entire business model is dependent on these decisions. 

Whether it is a decision for technology adoption or preparing the business plan, or introducing new products, these are the decisions that need to be taken. Also, there are many more situations where an entrepreneur needs to know how to take the right actions by proper decision making.

7. Social Skills

Social skills are something that will help you to be one of the active players in the market. Remaining behind closed doors never helps any entrepreneur, and you cannot get that reputation and recognition in the market. Social skills will allow you to share your knowledge and can make strong connections in the business market. 

The helping hand nature of an entrepreneur will always create a good impression. Entrepreneurs that are always keen on sharing knowledge with aspiring entrepreneurs and guiding them have good social recognition. Hence, social skills are very important these days for creating a good impression and reputation for an entrepreneur. 

Key Intakes On Being An Entrepreneur

entrepreneur

Entrepreneurship is something that most people feel is a cakewalk, but it is not true. The above qualities you have gone through might have given you the idea how demanding and dynamic the entrepreneurship career is. If you go through all the qualities of an ideal entrepreneur, you will get one thing in common: growth. 

The entrepreneurs that keep growing and hustling will never fail. Some of the qualities like punctuality and resilience are also very important, and that is something entrepreneurs always have. The qualities mentioned herewith are very important for small business entrepreneurs.

Final Words On Being A High Quality Entrepreneur

Entrepreneurs are the ones who are always keen on creating new opportunities, and to create those opportunities, they must have some qualities and skills to hustle. More importantly, they do not need to care about themselves only, and as an entrepreneur, many people will depend on you, and you need to take care of them. 

An entrepreneur needs to be active and understanding in all aspects viz. socially, professionally, emotionally, personally. Hence, maintaining a healthy balance in all aspects requires good qualities in an entrepreneur. Small business entrepreneurs need to be constantly active and must have a growing and competitive attitude. Thus, adapt and improve to grow further and scale your business to newer heights.


Author bio

Deep Moteria 

Deep is a serial entrepreneur and blogger who wishes to support the ground transportation industries with his writings. He covers up all the known and unknown facts around the industry and puts it together to create trending articles across different websites. He also includes details on the latest trends, fun facts, business expectations, strategies, and models to follow to achieve success in the transportation sector.

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Why Do Small Businesses Fail?

According to the Small Business Administration (SBA), in 2016, the U.S. was home to 30.7 million small businesses. Those businesses employed 59.9 million people, accounting for 47.3% of the workforce. And yet, small businesses fail.

Whether it’s a one-person show or a small company with fewer than 500 employees – you’ve got a small business. These are the lifeblood of the American economy… and yet, many small businesses don’t even make it past their first year. About half of them fail within the first five years, and only 1/3 of them make it to the 10-year mark.

Why do small businesses fail? Many factors influence small business success, including financing, marketing, product and service offering, and target market. If one of these things is off, it can create a difficult situation for business owners.

Reasons Small Businesses Fail

small-businesses-fail

Not everyone who dreams of owning their own business has the knowledge and skill it takes. But even seasoned entrepreneurs aren’t guaranteed a win.

No Clear Business Plan

When you get excited about something, it’s easy to want to dive right in and get started. It isn’t simple to answer the question of why small businesses fail. Unfortunately, that motivation and enthusiasm about your new business idea will only get you so far. Business owners who do not plan adequately before launching to the public will undoubtedly suffer. And that poor planning may not come back to bite you right away – but it could spell the end of your business much sooner than you’d planned.

Before you even start becoming a legal small business owner, you should first develop a business plan. No clue where to start? There are plenty of templates available to help.

Your business plan should include:

  • A description of the business and value proposition – the clearer, the better.
  • An overview of your capital needs, including operating capital, projected cash flow, revenue stream, budgets, etc.
  • Current and future staffing needs, including management
  • Market research and competitor analysis
  • Marketing needs and initiatives
  • Broader market opportunities and threats

Make sure you have a solid grasp of your industry and competition. For the greatest chance of success, establish a sound business model and company infrastructure before building out a single product or service.

Small business owners who do not address business needs with a plan before operations start will create unnecessary challenges. Those challenges may be overcome or they could directly cause business failure.

That said, small businesses should also take the time to regularly review the initial plan and make adjustments for the future based on changing conditions.

Lack of Funding Can be why small businesses fail

The biggest reason for business failure comes down to money. If you don’t have enough cash flow to support your business during the growth phases, you’ll eventually have to close shop.

Funding for startup companies takes many forms – from a small business loan to crowdfunding and venture capital investments. If you plan on approaching a bank to get funding for your journey as an entrepreneur, you shouldn’t skimp on business planning. Banks want to know they’ll be able to recoup their investment – and if you can’t prove how and when you’ll make money, banks won’t give it to you.

All businesses need a certain amount of cash reserves to fall back on to keep operations running while you wait for accounts receivable to come in. This won’t change as you grow. But, with the right investments and growth strategies, you’ll be able to keep enough money in the bank to keep things moving even if you hit a sales slump.

Small business owners may harm themselves with pricing. If entering a saturated market, it may be tempting to price everything low to capture the market. Doing so may get you customers, but if it means you don’t have enough revenue to generate a profit – you’re not doing yourself any favors.

Marketing Efforts Fall Short

All too often, business owners underestimate the importance of marketing initiatives. They may target the wrong customer base. They may need a bigger marketing budget to execute their marketing campaigns.

One of the most effective marketing efforts you can focus on is getting more Google My Business reviews. Data shows 97% use online media to shop locally. That means most people research your business before ever engaging with you. Your Google My Business presence works much like word of mouth. It will help your search engine optimization efforts, too.

Besides your business plan, spend some time developing a full marketing plan. Outline what you need to do and how you’ll do it. Include the money you’ll spend. Consider hiring a research firm to help ensure you’re targeting the right customers.

Inadequate Management

Another reason companies falter within the first year is that many times, the business owner is the only management staff. A business owner may have the skills to create a product or service, but could easily lack the required management skills to appropriately manage a team.

Without adequate management in place, it’s easy to mismanage crucial parts of the business – from hiring staff to marketing, or finances. A smart business owner recognizes their weaknesses and outsources those areas. Be it because they don’t have the knowledge to handle a task well or just don’t have the time to handle it correctly, effective business owners know a strong leadership team is critical to long-term business success.

Other Reasons Why Small Businesses Fail

small-businesses-fail

These, of course, aren’t the only reasons a business may not make it. No one can plan for every scenario, but the more you’re aware of from the beginning, the better. Other causes include:

  • Unsustainable growth
  • Lack of data
  • Refusal to pivot when it makes sense (did you know that Nintendo and Twitter are only successful today because of the choice to pivot?)
  • Lack of understanding around today’s consumer behavior
  • Inventory mismanagement.

Protecting Your Small Business During its Vulnerable Time

Don’t let the fact that only 20% of businesses survive their first year scare you. It’s okay to start small and scale up. Focus more time and effort on the research and planning phases. Spend money wisely. Work with a small team of freelancers on a project basis, rather than hiring hourly employees and offering benefits from the start.

Where are you on your small business journey? What advice do you have for brand new entrepreneurs? Let us know in the comments.

 

Author Bio:

Lucinda Honeycutt is the Head of Content for Orbit Local. She has 13 years of experience in content creation, WordPress, and SEO. When she’s not writing, she can be found binge-watching true crime TV or listening to an audiobook.

 

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Measure Twice-Cut Once: How a Carpenter Taught me Marketing!

marketing

Measure Twice-Cut Once: Marketing Lessons from a Carpenter

Marketing for small businesses is frequently a challenge, but it doesn’t have to be. I learned a lesson about successful marketing while I was working my way through college. Although I didn’t realize the application of the knowledge until later, this lesson has stuck with me.

One summer, while going to college, I worked for a company that made kitchen cabinets. My job was to cut the front frame where the cabinet doors attached. On my first day of work, I asked the Head Carpenter what was the most important thing about the job, besides not cutting my fingers off? He said to always remember to “measure twice – cut once”. As we became friends, he jokingly reminded me for most of the summer; “measure twice, cut once”, it almost became my nickname. To this day, when I drag out a piece of wood to cut for a home repair project, I still laughingly say, “measure twice – cut once.”

Sales and Marketing Activities Today

Fast forward to today. I have since realized that I owe much of my success in the world of sales and marketing for small businesses to that same rule of measuring, not measuring wood in this case, but my sales and marketing activities. As salespeople, we face an ever-growing list of sales and marketing activities that we can spend our time and money on; many of these tools are more powerful than we could ever have imagined. The likes of Facebook, Email, Twitter, LinkedIn, the Web and who knows what’s next are constantly pulling us to choose them to be the next marketing concepts.

 Why is Measurement in Marketing for small businesses so Important?

As small business owners, we might say that we’ve reached a point of too many choices and not enough time. But too many choices is exactly the point why measuring is an absolute must. It’s easy to just grab on to the latest-greatest marketing thing, especially if everybody else is doing it or it’s getting the latest press. So, pick the latest-greatest, choose the easiest, pick the cheapest; I don’t care. What I care about is that you measure twice and cut what doesn’t work because you don’t have the time or budget to waste chasing down every narrow little marketing idea that pops up.

The role of measurement in sales and marketing activities today

When it comes to making informed marketing decisions, measurement plays a key role. However, keep in mind that there are many marketing concepts, and some of them could be considered intangible (i.e., brand awareness). Below are four examples of what I believe is important for any business looking to gain a competitive advantage through effective marketing: choosing an approach that uses all available resources; developing promotional activities based on customer needs and behaviors; effectively addressing competition; and understanding consumer decision-making processes. Now let’s take a closer look at each one:

Choosing an approach that makes use of all available resources: help you streamline your efforts, so you’re not wasting money on techniques or marketing concepts that aren’t bringing in results; help find the right balance between all the different activities (i.e., advertising, new product development, sales promotion) to ensure they work together effectively without being redundant or conflicting; and give a clear focus for all marketing activities by helping you stay true to your overall business goals and objectives.

Developing promotional activities based on customer needs and behaviors: help marketers figure out who their target market is; what products/services the company offers; which channels should be used for promotion (i.e., social media as opposed to television commercials); how customers are likely to behave when exposed to specific tools/techniques (or how effective each one is at getting customers/clients to respond); and what type of communication will be most effective.

Effectively addressing competition: helps you understand how well your competitors are doing; the strengths and weaknesses of the organization (through analysis of competitor activity, resources, etc.); where they get their money from; how successful they are in different regions; which products/services have the highest demand and so on… In short, it gives you a complete picture of the market and your competitive environment.

This is important because you must develop an appropriate strategy using great marketing concepts to stay ahead of them or even take over their position in certain areas. Keep in mind that this work can be time-consuming, but it could give you a significant advantage over your competitors if done correctly.

Understanding consumer decision-making processes:  This can help you develop products/services that customers will buy; pinpoint how sales are made (i.e., who makes them, what channel they’re made through etc.); inform the creation of promotions by showing which types of products/services make customers happy and most importantly: where are competitors failing.

A practical example of NIKE

Here we consider the role of measurement in sales and marketing activities today by taking an example of a sportswear company, Nike. They had a clear target market segment for their products: those who were into sports, yet they managed to make this brand available to everyone. They used proper indicators to do so. So, when it comes to marketing for small businesses, the same technique applies, which means if you want your business to grow, you have to use certain metrics and marketing concepts to help analyze progress towards targets.

Let’s consider how the proper indicators were implemented during Nike’s “Just Do It” campaign by focusing on their main target market. To reach this market, they toned down their approach, chose to appear youth-oriented and put all the focus on sub-brands. And it worked! To me, that is a perfect measurement., which can also be applied to marketing for small businesses.

 How can market measurement help in marketing for small businesses?

As a small business owner, by changing in some way or another, your marketing campaign can be more effective. Setting the right targets and monitoring them is important, but it’s equally significant to measure if such a change is really working. That’s what we must learn from these companies who are taking their market measurements seriously, and as a result, are benefiting from them.

In addition, the performance of your marketing for your small business needs to be measured so that you may identify areas where improvements are needed or changes need to take place. Through proper measurement, you’ll get an idea of how successful your advertising was by comparing past performance with current performance via indicators like cost per impression or click-through rate. This way, you can take a calculated decision on what to change and how.

One significant point here is that it isn’t only about the eventual results but also the process used. For example, utilizing social media channels to gain attention provides businesses with more opportunities to get noticed than from traditional marketing concepts such as television or newspaper advertisements.

 What are the tools for market measurement?

In marketing, two main types of measurement are used to determine if the market is responding positively or negatively towards a change in your strategy – qualitative and quantitative.

Qualitative Measurement

Qualitative tools provide you with customer feedback and focus on product development. Examples include focus groups and brainstorming sessions, allowing marketers to get valuable information about customers’ thoughts and feelings towards product features, design, packaging, pricing and advertising. In fact, such feedback can help businesses gain an overall understanding of what their prospects want.

marketing

Quantitative Measurement

Tracking sales figures over time is one way to measure if changes were effective or not; it’s often simple information that can be collected through business systems like sales reports from accounting software. The amount of money spent on marketing campaigns, the number of new customers, and sales figures are all examples of quantitative measures.

Other tools for market measurement

Analysis: Analysis is a fundamental tool for market measurement because it helps brands track their progress towards business goals or marketing objectives. When it comes to marketing for small businesses, analysis can be used to help you see what marketing activities are working best and which ones have little impact. This way, you can focus on the things that work and avoid those that don’t bring in results. A few examples include: how well your website performs in terms of visitor traffic; whether visitors respond better to a video or text; who influences most other customers (i.e. high-value customers) within your target market; and what customer segments have led to increased profits the most (i.e. new vs existing clients). Even if you’re unsure what marketing concepts you need to implement, analyzing all the available information will become clearer.

Then, you need to measure your results. With the right tools, such as contact management software (and I’m sure there are many solutions out there), it’s easy to keep track of all contacts and leads generated from your marketing campaigns. This way, you can see the status of the communications being made with prospects/customers at any time and place.

Also, check how well your company’s website communicates its message through measures like traffic on a specific page, conversion rate; return customer rate; bounce rate; how long people stay on each page and what pages they visit most often. The list could go on…

Social media: is another important tool for market measurement in marketing for small businesses. Nike, (though not a small business) not only monitor their brand’s performance but also measure the results of individual posts and how they can be improved on. For instance, there is no difference in what you post online if your message or image does not reach the target audience because that’s what needs to be recognized by this company for it to work well using social media marketing concepts. And they do this; they take note of what works best (for instance, the happiness index), and that’s how proper use of measurement should work in developing successful campaigns in respect to marketing for small businesses.

So nowadays, we don’t just buy stuff because something looks good anymore. It must be the right product at the right price and accompanied by great service. Businesses that consistently do this are thriving, while others are failing. That’s why measurement plays such a big part in understanding which marketing concepts is most effective in marketing for small businesses.

Social Media Analytics:  a recent post by Hubspot states, “By measuring the performance of social media against specific business objectives, brands will be able to determine what is and isn’t working—and improve upon it. In fact, 84% of U.S. marketers said they are using social media analytics right now to do that very thing (HubSpot). Clearly, this practice alone can ensure maximum returns on investment for your brand’s marketing activities online.”

Make sure you measure results regularly – at least once a month or so — while also considering long-term results, such as how well a campaign resonates with customers over time. If there are any setbacks in sales or even if there are successes, you can still monitor these areas, too (in addition to your sales pipeline). Be sure to note important shifts in customer behavior and, whenever appropriate, adjust strategies or marketing concepts accordingly.

Another benefit of Social Media Analytics for marketing measurement is that you can easily view “the social media landscape” (as well as your competition) in one convenient place; the vast amount of information that you gather could strategically guide future campaigns. It also helps you to understand what’s working, what isn’t and why this is happening so that you can measure and cut as necessary.

This may seem obvious, but it’s important to remember that there are many factors involved with marketing measurement. One very significant factor is how much data you have on prior marketing activities. For example, is your knowledge based only on qualitative or quantitative data? Is there a clear overview of all contacts made with prospects/customers?

You should definitely strive for an accurate record of all leads generated from your efforts because this will help when it comes time to making sales presentations. With this information in hand, you could even create reports that show your growth over a certain period of time (such as half a year), which is valuable for forecasting and determining what will work next.

Measurement is vital in marketing for small businesses, to track your progress towards marketing objectives and learn how to improve marketing efforts.

marketing

Levels of market measurement

Top-down measurement is the traditional way of evaluating sales results, which advertisers and marketing managers use to track progress towards their goals. This method looks at sales and profits while also analyzing the number of new customers. It also looks for changes in customers’ needs and wants because these shift constantly; this could be due to demographic changes or economic downturns, for example.

Top-down marketing measurement also looks at a brand’s marketing costs compared to the size of its market share and profits. To do this, marketers use the incremental sales figure (which is your increase in sales as a percentage over last year). This figure allows you to calculate what you can spend on advertising without considering how much it costs you in efficiencies. Also important is the ongoing tracking of financial results via systems like accounting software. We want to know that we’re getting better rather than worse over time; if not, then we need to question why and make changes to our marketing concepts so that our business stays successful.

Bottom-up measurement provides a more specific analysis, which means looking at each individual customer’s buying process with you. For example, how did they find out about your company? When did they make a purchase? How many repeat purchases have been made, and at what frequency has this occurred? Bottom-up measurement can be applied to any department within the organization to identify which individual performers are contributing most towards overall sales and profitability.

According to Jack Welch – former CEO of General Electric, bottom-up measurement means looking at the numbers in great detail from every angle possible. He also said that managers shouldn’t just look at basic financial results; but also apply more creative methods of analyzing all data available, including direct feedback from customers. In order for these measurements to work, companies need to commit time and resources to them regularly. Not just when the company is doing badly, but all the time. That way, we can see how it performs over longer periods, such as months and years.

In his book “Good to Great,” Jim Collins talks about how an effective measurement program consists of a few simple but important factors. The first factor is that good measurement should be quantifiable (that means the underlying data should be measurable). Is your sales process pretty much understandable by most people? If yes, then you are probably measuring well; but if not, then either you need to make changes to those measurements or rewrite them in simpler terms for everyone to understand what they mean. This concept is best applied in marketing for small businesses.

Consistency:  The next aspect of successful measurement programs is consistency because this makes it easier for managers to understand the data. When conducting marketing for small businesses, you should have a standard way of reporting sales results each month, for example, because this helps you compare performance over longer periods and see what’s working well and what isn’t.

Precision: Precision is another important factor in measurement systems; if you want your numbers to be an accurate portrayal of how the business is performing, then they need to be precise. This also means that if problems are highlighted by an analysis of the measurements, then people need to ask why these problems exist so that change can happen.

Collins says that measurement must be managed with discipline; some people might not like it when told where their weaknesses lie, but it’s very useful information nonetheless. What does ‘management with discipline’ actually mean? Basically, it means that everyone in the company has some sort of measurement system. If they don’t like what they see as a result of this measurement, then it should encourage them to find ways to improve their performance and achieve better results.

Another important fact about good measurement is that it encourages employees to think outside the box by providing them with detailed information about how the business operates and where opportunities exist for improvement – whether in terms of sales or customer service. That way, we can identify problems before they become too serious; and make sure our customers are receiving an ideal level of service so that they will continue to shop with us.

Also, linking your measurements with budgets makes sense because it brings in a degree of planning and control. In your marketing for small businesses’ journey, ask yourself whether your marketing concepts are helping you achieve your budget objectives? If not, then maybe some changes need to be made to your measurements.

I really enjoy the quote from Napoleon Bonaparte that says, “Measurement leads to control and eventually mastery” because I think it shows how everyone in an organization needs metrics or measurements to monitor their performance; making sure they achieve their required results. This is important if we want our business to grow, as well as stay profitable for a long time.

Compliance with legal requirements is another reason why companies need measurement programs – particularly if their marketing concepts involve any kind of financial transactions where large sums of money are involved, such as retail commerce or banking institutions, for example. Basel II is an important example of a set of principles and guidelines from the Basel Committee on Banking Supervision that institutions must follow if they want to expand their operations into new countries or markets.

It helps to ensure that capital adequacy standards are met, meaning financial institutions have enough money available if anything unexpected happens. A measurement program can help banks measure how much capital they have at any given time, helping them to predict whether additional cash will be needed by the business. That way, companies don’t run out of cash when it’s most needed – such as in difficult periods where lots of customers are asking for refunds and charge-backs, for instance.

Measurement, in relation to marketing for small businesses is vital for any business to not only track its progress towards marketing objectives but also to learn how to improve marketing efforts.

marketing

Measuring twice and cutting once in marketing:

This simply means making sure you check your numbers twice and take the time to learn from successes and failures. Measurement is a continuous process that will help marketers and small business owners you find out what works best for your business.

Remember: measurement is one of the great marketing concepts that can be used by anyone (whether you are marketing for small businesses or big one) to understand customer behavior, gain insight into how campaigns are performing, or even just get a better grasp on the changes in your industry. Don’t forget, though, that there are many other ways besides quantitative measurement of how successful marketing efforts are; qualitative measures such as interviews (i.e., focus groups), surveys and questionnaires should not be overlooked when undertaking marketing for small businesses. The more information you have about your audience, the better results you can expect to achieve.

How can you apply market measurement strategies?

While reading this article, whether you were aware of it or not, you’ve been applying market measurements by analyzing what you read through your critical thinking skills and how much value they provide to you.  The same applies to businesses that apply market measurement strategies.

You can apply market measurement strategies in 10 ways as listed below:

  1. Evaluate existing marketing campaigns and advertising investments
  2. Determining the effectiveness of marketing efforts
  3. Determine how well your product/service is perceived by target customers
  4. Tracking changes in consumer behavior patterns over time
  5. Project potential changes in customer needs/desires for future products or services
  6. Identify new opportunities to increase sales and profits through effective segmentation, targeting and positioning strategies
  7. Develop appropriate pricing levels based on economic conditions (i.e., recession) that are going to affect demand for certain products or services
  8. Monitor competitors’ activities toward learning what works best from a particular campaign, then using it as a benchmark for future references
  9. Understand how different strategies contribute to overall performance (i.e., sales and profit)
  10. Help answer the question: “what else do we need to know?” about a particular situation or problem

Summary

You might say that we’ve reached a point of too many choices and not enough time. But too many choices is exactly the point why measuring is an absolute must. It’s easy to just grab on to the latest-greatest marketing thing; especially if everybody else is doing it or it’s getting the latest press. So pick the latest-greatest, choose the easiest, pick the cheapest; I don’t care. What I do care about is that you measure twice and cut what doesn’t work. Here’s an article on results from using a tactical marketing plan.

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Beginner’s Guide to Protecting Your Startup Idea

protecting your startup idea

Protecting Your Startup Idea: A Beginner’s Guide

Protecting your startup idea (your intellectual property) is crucial when creating a new brand. As you come up with a new name, logo or symbol, you want to make sure that no one else can use or copy your ideas. That’s where trademarking comes in.

Trademarks typically include things like words, phrases, designs and graphics that distinguish your business. These elements are often the first thing audiences notice about your brand, so it’s important to protect them from competitors. A trademark will grant you ownership of your company’s branding and provide legal protection.

Filing for a trademark for the first time can feel daunting, but the process is fairly straightforward. Read on or skip to the infographic below to learn how to trademark your startup.

Finalize your Name and Designs

Before you trademark any aspect of your brand, you should take time to fine-tune and finalize your designs. Making changes after you already have a trademark could be expensive and time-consuming, and it could cause your design elements to lack consistency. You should also ensure that you have submitted all of your LLC or corporation paperwork during this stage. If your paperwork is still incomplete, you won’t be able to register a trademark.

Consider Hiring an Attorney

Trademark attorneys are a great resource if you are filing for the first time. You can file your trademark yourself on The U.S. Patent and Trademark Office (USPTO) website, but an attorney can make the process go much quicker and smoother. Because trademark attorneys have experience handling all aspects of trademarking, they can help you through every step of the process. Hiring an attorney can go a long way towards protecting your startup idea.

protecting your startup idea

Search for Existing Trademarks

Once you have finalized your design, you’ll need to search for existing trademarks that are the same or similar to yours. This will ensure that your design isn’t too similar to one that is already being used and save you from future trademark disputes. The USPTO allows you to search for existing trademarks on their website, and a lawyer can assist you if you need help.

File and Monitor your Trademark

Once you have determined that your design won’t infringe on anyone else’s trademark, you can move forward with the registration process. You will start by filing an application with the USPTO. If you have an attorney, they can help you prepare your application and ensure that you fill it out correctly. Then, the USPTO will review your application and either approve or deny it for publication.

Once your application is approved and your trademark is officially registered, you should regularly monitor it for any infringement issues. To do this, check the USPTO filings to see if anyone has registered a trademark similar to yours. You can also hire someone to do this for you. If you catch a possible infringement issue, you should file an opposition to registration with the USPTO and hire a lawyer to represent you.

Registering your trademark can be a lengthy process, but it can protect your image and save you from having to rebrand in the future. The process of protecting your startup idea when creating a brand will set your business up for success.

Author Bio: Mike is a writer and creator who helps LegalZoom craft detailed content that explains complex litigation topics as simply as possible. His 10 years of experience in marketing and sales influence his love for storytelling.

 

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Role of Digital Marketing in the Automotive Industry

digital marketing in the automotive industry

Digital marketing helped keep the automotive industry on the map. The automotive industry was one of the major industries to emerge on the global map as a result of the industrial revolution. The industry made huge leaps in a very little time to soon have a strong hold of the global market. Innovations and the use of technology have always played a massive role in bringing this industry to where it stands now. The automotive industry has always been performing well, but with the pandemic outbreak in late 2019 put every industry on a halt. Every industry had to suffer huge losses with the production plants being shut down and so did the showrooms and outlets of every brand and industry out there.

In this situation, only those survived who had some kind of prominent online presence. The product launches were being held on digital platforms with no in-person attendance. And this transformation in the form of use of digital and mobile networks increased to influence the customers. And it’s not that digital presence or digital marketing should only be used till we all get rid of this virus. Adapting digital marketing can help the automotive industry in influencing the customer behavior and the instinct of decision making whenever they are looking to buy cars or commercial vehicles.

Why Digital Marketing in the Automotive Industry

digital marketing in the automotive industry

 

In this day and age, everyone has gone digital, be it the social media or other sources of information. Doing the research of what exactly to have before visiting the physical store has become common. Even though the automotive industry has adapted digital marketing strategies to some extent, it still lags behind as compared to other industries and businesses. As the customers look to compare the brands from every aspect possible to choose the best for them, it becomes inevitable to go digital in order to grab the customers.

There are many reasons that play in the hand of the automobile industry to go for digital marketing strategies more than ever before. Going for digital marketing can not only boost the car sales and the revenue but is also cost effective. Here we’ll provide you a detailed analysis of how adaptation of digital marketing can be beneficial for the automotive industry.

Brand Awareness

Keeping the customers updated with the proceedings of what could be there for Adaptation of digital marketing in automotive industry can help the manufacturers raise better brand awareness by providing the customers with information of your upcoming products as well as those in the market. You can engage your customers on your website all across the globe by developing a sense of communication with targeted messaging. Automotive customers are always seeking to get involved with the things. They will always be keen to know what can be rolled out for them in future and if their feedback was addressed or not. You will always want your brand to play in the mind of your potential customer.

It is obvious that the majority of the potential automotive buyers or the ones seeking car services use the internet to research and contemplate the possibilities. Making sure that the customers are seeing your website and the relevant data in the search results can help you engage the potential customers in a better way. Making your vehicles and the automotive services look prominent and of highest quality will leave a lasting impact on your potential buyer, compelling him into becoming your customer.  Your automotive products, be it the cars or the services will be more desirable than the competitors. By providing the customers with as much information of your brand and the products can help the potential customers also shift to your brand and ultimately become a loyal one.

Expansion of Business

Going digital with a website on the internet can help your automotive business expand all around the world. Listing your automotive products; cars and parts, can help you reach the far and wide of the globe. Being a local is a good thing but bounding yourself is not. When your brand is online with a website, you have the potential to grab the audience all around the world. Your business could well have the products that are needed by someone not from your region, and you’re losing big by only restricting your business to physical outlets.

With every other person using the internet, and using the resources like official websites of automotive manufacturers either for a research to make-up the mind or to place a purchase order, having a website can help your potential customers reach you. Through proper search engine optimization, you can stay at home and still sell your auto parts to every part of the world. You can target the audience of your interest by analyzing the online activity of internet users. Businesses can directly reach the potential customers who’ve shown interest in the products of your relevance. The power of digital marketing can be accessed.  You can find an Audi Workshop in Musaffah, Abu Dhabi;  The workshop is applying all the matrices of Digital Marketing and leading the marketing – This is true!

Customer Familiarity

Going digital and having an online presence can help your brand better understand the market trends and know your customers in a better way. Engaging the customers on your websites and other digital platforms keeps you updated with the recent market demands and seek the much important response of users regarding different products, be it the automobiles or the auto parts. Many of the brands conduct surveys on social platforms and on their websites to get the feedback of the customers. What this will do is help the automotive manufacturers know exactly what their customers want. Acting upon the given feedback and improving on the things is always what makes you a good seller in the eye of the customers.

By having a customer-to-customer relation and then providing them the best product possible, accumulates a huge fan following and loyalty of the customers. Those loyal customers then not only use your products but also recommend the same to others.  With adaptation of digital marketing in the automotive industry, the manufacturers can build a sense of trust with the customers. This loyalty to the brand helps in a thorough relation throughout and keeps the business going.

Author Bio:

Arslan Haider is author of the above blog. He is a Senior SEO Expert at MediaHicon (deals in SEO services). Apart from that, he loves to post blogs having valuable content.

 

 

 

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