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Posts Tagged ‘Tips For’

You would have heard so many marketing experts telling everyone to use social media as part of their promotional marketing mix. The Internet is flooded with information on using Facebook, Twitter and other social sites. Numerous articles have been written on how using social media can help promote your brand image and how it can generate web traffic for your main business website.

Keep in mind that that social networking is a marketing tool and it is only effective when used properly to promote your business.

Copyright (c) 2009 Dr Mark Yates

Economists are gracing our TV screens and newspapers proclaiming that the current economic downturn has finally bottomed out, and that we are about to turn the corner of the current credit crunch.

Irrespective of this opinion, in times of business hardship a great many opportunities for existing and aspiring business entrepreneurs manifest. The opportunity has never been greater for a small business start-up to grow exponentially.

Top 5 Tips For A Small Business Start-Up #1- Research Your Market

Business research has never been easier. Nowadays you can conduct most of your market and competitor research from the comfort of your own home or office computer. Online search engines are your best friends and although I advise caution as to complete accuracy of information, they do offer you a valuable insight.

Conduct a small business review. Identify your competitors and then use Google and other search engines to identify your competitors marketing campaigns and how much they are investing in targeting their online customers. Although online marketing doesn't include conventional marketing, it does offer a fantastic insight into your competitors business modus operandi.

Top 5 Tips For A Small Business Start-Up #2- Formulate A Strategic Business Growth Plan

Don't confuse a strategic business growth plan with a conventional business plan. A conventional business plan is generally required when you are looking for some kind of business finance, i.e. a bank loan or external investment. In reality most business owners park their business plan in a dusty cupboard never to be seen again after they have secured their finance. A strategic business growth plan is a much more pro-active working document that should form the foundation of your business growth. The initial foundation stone of this plan is a small business review ideally produced by a proven business growth consultant. This small business review can usually be produced quickly without spending a small fortune.

It should by definition include how you intend generating business, how you will take a share of your competitors business, how much you intend to turnover weekly, monthly and annually, how much your gross and net profits will be. It should also include financial forecasts and profit and loss data.

Two of the most critical issues to address when working with your strategic business growth plan are that;

1. The plan should include key performance indicators or KPI's as they are known in the business world.

2. The plan should be discussed and analysed by the MD or business owner weekly, followed up by a much more in-depth discussion which should take place every month with the MD, owner, directors, partners, shareholders, investors and senior managers to ensure the KPI's are being met.

On the basis that very few Small Business Start-Up will have such a corporate hierarchy, you should rely on external or outsourced business support partners to assist. (See top tips for a small business start-up #3 for further information on the right business partners.)

Top 5 Tips For A Small Business Start-Up #3- Find The Right Business Partners

A small business start-up generally lacks the expertise and resources that a medium or large business usually maintains. This means that for the managing director owner of a small business start-up, he or she occupies the loneliest position in the entire business world. It is for this reason that I advise retaining the right business partners. Initially you should appoint a proven business consultant, don't be confused into thinking this business consultant has to specialise in your particular type of business. Although there are a few business consultants who do specialise in one particular type of business, a very high percentage of business consultants are classed as business generalists.

Obviously if your research identifies a business consultant who specialises in your industry, then that's a bonus. However I advise that it is more important to appoint a proven business growth specialist as the first of your right business partners. If you appoint a proven growth specialist then he or she will have extensive contacts who can step in and out of your business as and when required without you having to pay full time salaries and executive benefit packages. Your business consultant will want to produce a small business package and a small business guide designed to encourage other business heavy weights to join your business on a part time retainer basis. Investing the time and money to produce this small business package and small business guide will provide far more value than cost.

Effectively your right business partners will be your very own part time low cost board of directors, an asset that many small business start-ups fail to capitalise on.

Top 5 Tips For A Small Business Start-Up #4- Never Step In The Ring Unless You Can Win

Never step in the ring unless you can win is based on the premise of having adequate financial resources. If you enter the business arena as a small business start-up without sufficient funds to get you through the first 12 to 18 months, you will seriously struggle to achieve business success and long term business sustainability. This is one of the main reasons why such a very high percentage of UK small businesses fail within the first 12 months. Appointing your right business partner i.e. a business growth consultant should bring an external source of financial expertise into your business on an as and when required contractual basis. Cash flow is key to any small business start-up for achieving good annual turnover and great profit margins.

Top 5 Tips For A Small Business Start-Up #5- Attack The Market

You've formed your own small business start-up, appointed your right business partners now you need to attack the market. Proactive business thinking will always lead to greater annual turnover and a healthy profit ratio. When I say attack the market, I am not being melodramatic. Business, real business is a war, and most wars are won before a battle commences. Being reactive in business will not win the war. Reactive business owners are destined to a live of mediocre business gains.

I only advocate attacking the market when you have integrated the first 4 of the top 5 tips for a small business start-up.

Implementing these top 5 tips for a small business start-up will give you a definitive edge over your counterparts who are also starting their own new business.

If you haven't gotten to email marketing, there is no opportunity like the present. This powerful form of marketing can let you direct targeted traffic to your website, stay you in communication providing your customers, and more. When begun an email marketing campaign, you're going to want to be careful about how you go about it.

Here are some tips for setting up an email marketing campaign. Double Opt-in The most top notch kind of email list is one accumulated via the dual opt-in method. What this means, basically, is overly people experience to opt-in to receive the emails in a two-step process. They brand their email into a form on your site, but they consequently hold to click a link in a confirmation email they receive.

This seems desire it would be bad as it could indicate some people to not sign-up for the list by not completing the second step. The thing is, though, is those that do complete that moment stage really, really want access to the emails you send out. This makes them very valuable to have as you know they're right now interested in the material you're going to be sending. Don't take a short-cut to try to substantiate the raw numbers of your list.

You'll end up amidst a egregious list that performs at or below industry criteria for conversion rates. By insisting that subscribers dual opt-in to get on your list, you ensure the they're passionate about getting tips from you and therefore more innate to click links or act on offers you present in front of them. Don't Go Overboard One of the quickest ways to get a lot of purchasers to opt-out of your email list after you have carefully put up it up is to bombard them providing too many emails or too several off target emails.

Either of these methods can kill your email selling attempts before they get off the ground. People are busy. If you send too various email newsletters, clogging up their email Inbox, they're lessened likely to was reading any of them. Limiting yourself to sending out carefully crafted email newsletters relatively than blasting any old garbage to your store will go a extended way in making sure not too many homeowners quit your list.

Even if you only send one email a week or one email a month, if it is not super targeted to the group of households who signed up for the list, it's not going to be truly successful. If you send out things that aren't of financial to the people on your list, they're being handed out to commence to wonder why they signed up for your email include in the above all place.

This is not the thought you want going through their mind when properties open your email newsletter. Final Thoughts Email marketing is a great way to build and maintain relationships with customers and potential customers. If you've not thought up it before, you're missing out on one of the firmest ways to sell your brand online. Download your FREE Internet Marketing Preview Ebook @ http://tinyurl.com/7oaydp now.