by Angela Taffs | Jan 8, 2015 | Personal and Lifestyle, Running a Business
Do you have an accountability buddy?
I was reading an article this week and came across this quote:
“The low points in a startup are so low that few could bear them alone”
~ Paul Graham
And how true this is.
Within the article, it stated no one can succeed in business by going it alone. It stressed how important it is to get support from other entrepreneurs who are at the same stage as you and can understand what you are going through and from those with more experience who have been there before you and come through the other side. By connecting with others, you no longer feel alone and you no longer have to face obstacles on your own. You realise that others are having exactly the same problems as you and you can share ideas together to help you get over your hurdles. So if you feel that you are struggling with your business, reach out to others for help. Share your struggles, your goals and your successes. Pair up with an accountability buddy and use each other to plan and review your progress each week.
As part of my Small Business Kit, there is a secret Facebook group to give women the support they need but may not be able to find immediately to hand. It is somewhere individuals can come in confidence and share their thoughts and feelings about their business that they may not necessarily want to air in public. And they must just find their accountability buddy in there. If you haven’t already, seriously think about joining.
I really don’t want you to suffer in silence.
by Angela Taffs | Jan 6, 2015 | Sales and Marketing
Why should you consider blogging for business
Get your website found
Blogging for business is a great way of attracting new customer and also getting your website found in the search engines. Search engines love fresh content that is relevant and unique. So by incorporating a blog into your website, you will be covering all three of these areas.
Build a following
In addition, if you write your blog well with interesting and informative content, you can build up a following of people who may then well become your future paying clients.
How? Well, it’s pretty simple, really. Gone are the days of the hard sell. People are very discerning customers and want to know about the business behind the products and services and to find out more about what is on offer before they buy. As a small, blogging plays right into your hands.
Build relationships
The point of having a blog and writing new content on a regular basis is to build relationships with people. They become familiar with what you do and how you do it. As you post useful content they look upon you as a trusted authority. Basically, you become the expert they turn to on a specific subject matter expert.
Develop a niche
The key to this is to develop a niche. Most small businesses have done this already. You make personalised wedding stationery or teach people how to run properly, or whatever else it is you do. You then make yourself stand out from the crowd. You don’t market yourself as just making keys; you make homes secure and help people feel safe at night. You start to focus on the benefits of what you do rather than the physical features.
Provide value and help people
That is what you need to focus on to create your business blog. That is what is going to help you get new clients. Your blog is all about what you do and how you help people. Going with the wedding stationery theme, you may have a few articles on choosing one type of paper over another. Other articles may be about different design elements and creating a wedding theme. Others talk about the psychology of colour when choosing your wedding accessories. People want to be educated before they make a decision and that’s the purpose of your blog. They also love freebies including tips and advice. You don’t want to blog about how people should buy now because the prices are going up next week. This isn’t about selling at all. Remember, it is about building a relationship.
A small business blog is about becoming a part of someone’s extended family. It’s about building relationships and offering insight and information. Once you have done this, people will be very likely to do business with you. If they have a conversation at a social gathering and wedding talk starts, chances are your business will end up getting discussed. The online conversation continues offline and the buzz brings you, new customers.
by Angela Taffs | Jan 6, 2015 | Sales and Marketing
Why use Twitter for business
Using Twitter as part of your social media marketing makes perfect sense considering the number of small business owners who are already gaining exposure and sales from being part of it. What many Twitter users find is that by using this social networking community, you get access to many key potential customers and contacts.
Apart from the obvious benefits associated with social media of building a following and becoming a recognised expert in your field, Twitter has a few more valuable reasons for using in your business marketing plan.
Develop Key Contacts
By following and interacting with other business contacts in your industry, you can build some key contacts that prove to be useful in the future when building your business. You can start to share each other’s content and may be able to collaborate on projects or refer work to each other. I met a contact through Twitter who has helped me answer client questions I was not able to and who I have then referred work to since. We have built an excellent collaborative working relationship together and would have never known about each other if it wasn’t for Twitter.
Trending Topics & Current Events
By watching Twitter you can keep up to date with what is trending in your industry and what is grabbing people’s attention and interest. Twitter is also great at letting you know what is happening with current events and breaking news. It was reported back in 2011 that Twitter users read about an earthquake in Washington D.C. thirty seconds before it actually hit them! Don’t underestimate the power of Twitter.
Thought Provoking
By listening in on other conversations, you may just open up your mind to other ideas that you would not have otherwise thought about. You may then be able to think creatively of ways to use this information in your own business, whether by marketing in a different way or creating a product or service that isn’t being fully provided yet. Or it may just provide food for thought for a new blog post to send your own circle to capture their attention and build your reputation as being an expert in your field.
Develop Your Own Following
It takes time and patience to develop your own following on Twitter but by posting interesting and informative content and participating in other conversations, you will start to build brand awareness of your business and what you do. Once people start to trust you and enjoy your Tweets you can get to a point where you will be able to promote to them directly. Post a link so they can subscribe your blog or give a special offer to your Twitter followers.
Increase Your Knowledge
By following industry leaders and reading their Tweets, you can increase your own knowledge and keep it up to date. From learning simple tips and shortcuts to more in depth awareness on a subject, you can then re-package this information and pass it on to your clients enhancing your reputation as an expert in your field. I regularly find out things I wasn’t fully aware of on Twitter which will then prompt me to go do some further research to find out more.
Keep an eye on the competition
By following your competitors, you can keep up to date with what they are doing. See what works well for them and gains them interest and interaction and then implement this into your own business marketing. Social media makes competitor analysis so much easier these days.
If you use Twitter for business correctly, it can prove invaluable for building key contacts, acting as a tool for developing your knowledge, keeping up to date with industry trends and developing future marketing strategies.
by Angela Taffs | Jan 6, 2015 | Sales and Marketing
Why use LinkedIn for business
Make valuable connections
I look on LinkedIn in the same way as the Six Degrees of Separation. I have found, almost without exception, that if there is someone I really want to connect with, I can find them on LinkedIn and that I will be connected to them through my own network of contacts. I can then ask my own contact for an introduction after explaining why I want the introduction.
This can prove to be a powerful way of making connections with people who can help you build your business such as marketers, journalists, suppliers and industry influencers.
Join groups
By joining in groups relevant to your business you can gain valuable industry knowledge and keep up to date with the latest news and events. You can use the content of group discussions to give you ideas for your own blog posts or finding ways of being more creative with your marketing efforts.
Join discussions
By joining in and giving your own opinion on discussions within groups, you can build your brand awareness and start to position yourself as an expert in your chosen field. By becoming part of a discussion, you raise your visibility to like-minded business professionals and open up a potential new network of connections.
Ask questions
LinkedIn is a great place for being able to ask questions and get industry specific answers from other experts. You can post these questions in specific groups where group members will get an alert to the question being raised.
Post your blog
By posting your industry relevant article on LinkedIn, it can get seen by individuals who may then share this content with their own connections. This gets your business under the noses of professionals you may not otherwise have access to.
Research
I have used LinkedIn extensively for researching clients, potential employees, suppliers and key partners. Unless they have their profile locked down, you can find out a lot about their background and can read recommendations and reviews from their connections.
Keep in contact
I have used LinkedIn to maintain contact with business professionals I have met face to face at events and networking meetings. LinkedIn is a great way of keeping in touch and up to date with what they are doing. No more having to hunt through a box of business cards to find someone, I just type their name into the search box and message them if I want to get in contact again.
Use these tips for LinkedIn for business and see how it helps your professional profile and gains you new clients.
by Angela Taffs | Jan 6, 2015 | Running a Business, Sales and Marketing
Top reasons why small businesses fail to grow in their first year and what you can do to make sure you’re not one of them.
Small businesses fail for a wide variety of reasons with some being wholly unavoidable such as personal circumstances dictating a change of direction. However, some reasons are more common than others. Have a read of these common reasons and do your best to make sure you avoid them.
Common reasons small businesses fail
Below are some of the most common reasons that small businesses fail. Make sure you take action to avoid these pitfalls.
Lack of planning
If you want to run a successful business, you really need to do some planning. You need to find out what the start-up costs will be, where you will get the money from to run the business, what resources you need, how to plan your time and many other things. So before going any further, go complete a simple business plan. This will help you think about those areas of business that you may not have otherwise thought of.
Not understanding the market
Part of a business plan as mentioned above is carrying out market research. So many small business owners plough ahead with their latest idea without getting up to date research about what is happening in the marketplace. Go and read up on the latest industry news, find out about the competition but more importantly, all about your target market and what they want.
Poor marketing
Marketing should be planned, aimed at a specific audience, portray the right message and be measured. If you miss any of these points out you are lessening your chances of it being successful. You know all about what you are selling and why, but unless telepathy is your strong point, your perfect client’s won’t. Find out where they are and create a clear, easy to understand message as to what you are offering and why they should buy from you under their noses.
Running out of money
Do you know how much money you need to bring in each month so that you can cover the bills, taxes, insurances and all other expenses to keep your business alive? If you don’t, I suggest you go find out now. And then check how you estimated income and expenses compare to the reality on at least a monthly basis. Failing to keep up to date with the finances and running out of cash is a killer for any business. As they say, cash is king! Treat it as such. Get to grips with the basics of cash flow, profit and loss and break-even points so understand the financial health of your business and can put plans in place to deal with any problems.
Not complying with legal issues
Find out what legal implications there are within your business so that you don’t fall foul of the law and end up in hot water. This includes:
- Health and safety
- Local trading licences
- Encroaching on other businesses names, trademarks or intellectual property rights
- Informing the relevant people or authorities
- Planning permission
- Business rates
- Hazardous substances compliance
- Fire Safety
- Health and Hygiene certification
- Data protection
Do your research and find out what applies to your business.
Lack of insurance
Every small business will need insurance of one kind or another so don’t ignore this and then end up with either a claim against you that you have to settle personally or without a vehicle or stock and no funds to replace. Typical Insurances to consider in a small business are:
- Public liability
- Professional indemnity
- Product liability
- Employers liability
- Motor insurance
- Buildings and content
- Business equipment
Staffing problems
If you are going to employ staff in your small business you need to take on the role of manager, leader and effective communicator. Once you have found the right staff, you need to make sure you look after them and give them the best chance of helping you turn your business into a success. Get yourself up to speed with employment law to ensure you comply with current legislation but also make sure you provide the right training and support so that your staff can do their jobs effectively.
Ignoring advice
It is rare to find a small business owner who knows everything and can do everything on their own. Taking advice from someone with experience and professional knowledge can help give your business the best chance of success, so don’t ignore it. Find someone to turn to for advice when you need it, whether within a networking group or a personal mentor. They will have been there and done it before you and will help you avoid those all too common pitfalls and mistakes.
Emotional burnout
Emotional burnout tends to happen when that critical work/life balance is lost. The long hours of all work and no play end up taking their toll. Be aware of how you are feeling and give yourself a break every now and again. Take time to sit back and reflect and don’t neglect time with friends and family. Running a business can be stressful, but ultimately it should give you joy so don’t lose sight of that. If you would like more in-depth information on the reasons small businesses fail and how to avoid these mistakes, become a member of The Small Business Kit today.
