Tag Archives | SmallBizChat

Who’s On #SmallBizChat May 2012

By on May 2, 2012 in SmallBizChat

Each week as Smallbizlady, I conduct interviews with small business experts on my weekly Twitter talk show #SmallBizChat.

Here are the upcoming guests for May 2012…

  • 5/2 Liz Lynch @Liz_lynch Author Smart Networking on How to be a Power Networker
  • 5/9 Amy Palmer @FearBustinSales on How to Get Over Your Fear of Selling
  • 5/16 Alfred Edmond Jr. @AlfrededmondJr – Editor at large of Black Enterprise on How to Get Paid What You Are Worth
  • 5/23 Jennifer Abernethy @Saleslounge on How to use Pinterest to Promote Your Small Business
  • 5/30 Jacquette M Timmons @jacqmtimmons Author, Financial Intimacy on How to Get Your Spouse to Support Your Small Business Dream

Join me live every Wednesday, 8PM EST on Twitter – here’s how: follow @smallbizchat on Twitter and click here for instructions bit.ly/S797e

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How to Grow a Billion Dollar Membership Site QA

By on April 26, 2012 in Grow Your Business, Mompreneurs, Q & A Interviews, SmallBizChat, Women in Business, Your Small Business

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with Alexis Maybank @giltfounder Alexis cofounded Gilt Groupe with her best friend Alexandra Wilkis Wilson. Gilt Groupe took only four years to take the fashionista crowd by storm, transform online shopping, and attract five million members and earn a $1 billion valuation.  Previously, Alexis was an early member of the eBay team and launched eBay Canada and helped launch eBay motors; She has a B.A. from Harvard College and an MBA from Harvard Business School. She has appeared on CBS-TV, CNN and other networks. She and her cofounder recently authored BY INVITATION ONLY: How We Built Gilt and Changed the Way Millions Shop (Portfolio; 2012) www.giltfounders.com Alexis shares tales from her wild ride of launching a hyper-growth startup.

 

SmallBizLady: Gilt Groupe took both the fashion and e-commerce industries by storm with such a simple idea.  How did you do it?

Alexis Maybank: My partner and I were inspired by the popularity of New York’s designer sample sales, and we wanted to make this popular local pastime available online to customers throughout the US.  Gilt Groupe was designed to offer highly coveted fashion labels at insider prices to a passionate group of consumers. Today we’ve evolved to become a website selling diverse luxury lifestyle products to customers around the world.

 

SmallBizLady: In just 4 years you attracted 5 million members and a $1 billion valuation. What is it that sets Gilt Groupe apart?

Alexis Maybank: The most critical factor contributing to our success was its founding team. In addition, we enlisted the industry’s leading and most coveted brands to sell on our site, for the first time sought to curate the best of a season or collection and not feature everything, tapped cutting edge viral and social marketing techniques to scale the customer base quickly, and used leading site creative to cultivate a leading luxury brand online.

 

SmallBizLady: Common advice is to never go into business with friends or family, but you have turned that on its head.  How has it worked for you?

Alexis Maybank: In a startup, it is absolutely critical to be able to trust and rely on your co founders and/or team. If you are considering going into business with a friend or family member, you are likely to put a lot on the line. It is important to communicate. Lay out any potential issues or concerns on the table and talk about them in detail. We did this because people told us to have these discussions, but we were never all that concerned about working together. It is important to think about the context of your friendship. In our case, we were friends from business school, so we had seen each other’s work ethic and drive in action, and we were familiar with each other’s basic business acumen. Most important, we each had seen the other at our best and worst and knew we would not encounter any surprises as we hit the inevitable highs and lows any start-up faces as it grows. Our confidence and trust in each other was absolute.

 

SmallBizLady: You talk about relationships and execution being keys to your success. Why are these two factors so important?

Alexis Maybank: Relationships were absolutely critical to the success of Gilt. Our relationships with the fashion community were necessary in convincing brands to sell their wares on Gilt. Our relationships with friends were important because they helped to form our early base of members and customers of the site. Our relationships also enabled us to find and recruit top talent in all functional areas, from merchandising to marketing to operations technology and finance.  Execution is key; ideas are cheap.  We knew that we needed to execute our vision better than our competitors, and we started having competitors enter our industry very quickly.

 

SmallBizLady: Gilt Groupe’s success was largely built during the recession. What advice do you have for someone starting their business in this economy?

Alexis Maybank: There is no better time than now to pursue an idea you are deeply passionate about, and in fact there are many sources of financing available now to would-be-entrepreneurs. If you have an idea, here are some things that you might consider in determining if now is the right time to pursue it. First the idea should be easy for you to explain in one sentence to a friend or colleague.  Second, does this concept exist in any shape or form already? Why or why not? Take an honest look at the marketplace. Who else is out there? Has someone already tried this and failed—and if so, why? Have times changed? Sometimes an idea can be too ahead of its time and advanced for the market. Importantly, can you test your idea before overinvesting, just to make sure? These days the best way to make sure that the time is right for your idea is to get it out there and see what people think. Getting customer feedback from the start will help you build a better product, one that will maximize your investment.

 

SmallBizLady: In your book you discuss the value of naysayers especially early on in building the company.  Can you explain their value? 

Alexis Maybank: Don’t get discouraged by the people who tell you your idea will never work. Instead listen to them and see if you can apply any of their thinking into refining and improving your strategy. If you can anticipate pitfalls and those hard questions you will get from investors and partners alike in advance and more importantly be ready with great, well-thought-through answers, then you will be better equipped for the challenges ahead.

 

SmallBizLady: With the tech industry still being predominantly male, what are some of the unique challenges you faced getting started? 

Alexis Maybank: We launched a business initially targeting female customers; in fact we were precisely the target demographic. This was very clearly an advantage as we understood the consumer mindset better than anyone. Beyond that it can be more challenging raising money as a woman. Women led 28 percent of all U.S. businesses in 2002. Yet female entrepreneurs historically receive less of the invested dollars coming from venture capital firms, estimates are as little as four to nine percent.  So while this is clearly a challenge, keep in mind that as a female you are more likely to be a more memorable party pitching the partnership as there are not as many women to walk through there doors to begin with!

 

SmallBizLady: Entrepreneurs think that venture capitalists invest in ideas, but you argue they really invest in people.  So what makes them want to invest in someone? 

Alexis Maybank: Because there’s so little due diligence that can be done on most new start-ups, it’s natural that VCs concentrate most on the team involved. Many investors like to see a track record of success and will use this to guide them. Drive, ambition, leadership potential, integrity and the ability to motivate others are also important traits for an entrepreneur. You need to focus on the background and skill sets of the key team members in order to convince investors that you are the right team to back.

 

SmallBizLady: Growth is something all small business owners work towards, but growing too quickly can be detrimental.  How can this be avoided?

Alexis Maybank: There are two areas where you see companies suffer when growing too rapidly. The first is not anticipating the right type of people they will need to lead various teams or functions, hiring them too late or making the wrong choices in hiring.  Hire fast enough, but do not over-hire, and invest in recruiting the right talent so you do not have to rehire later, which is often a time consuming and sometimes costly mistake.  Second, if you grow too rapidly and are not investing enough in making sure your business infrastructure is strong enough then you can find yourself ground to a halt when the site crashes, the orders outpace what you can ship out in an acceptable time, or your accounting systems fail and lead to detrimental errors in expense reporting or others. Try to anticipate what could “break” next and get rigorous as a team in shifting focus fast enough to address these problems.

 

SmallBizLady: What advice can you offer for how to spot a trend that could reinvent an industry?

Alexis Maybank: There are no simple formulas here.  However if you are intimately familiar with an industry or a customer group, and you recognize a really tough problem that is universally faced or a so-called pain point that confronts all, and you have a pretty good solution that you could introduce or build better than the existing alternatives, then you are probably on to something important.  Some of these problems could have been left for dead or abandoned, and sometimes people need to just take a fresh look at them.

 

SmallBizLady: Can anyone transform a personal passion like shopping into a business?
Alexis Maybank: Not all personal passions should be transformed into a business, but if you think that your passion has a viable market, then explore it, and perhaps find someone who could join you in your venture. We believe doing a start-up with someone you trust is so much more rewarding and fun than going at a business alone.

 

SmallBizLady: What role should style play in a professional woman’s career?

Alexis Maybank: Style is important, not only in terms of looking well groomed and put together in a manner true to who you are as a person, but more importantly personal leadership style. In the book we discuss differences in leadership styles. Not every approach will work for every woman, but over time one can hone in on what feels natural and what is effective in reaching your goals and standing out amongst the crowd.  If you are true to your nature in presentation and style, then you feel most comfortable, and are inevitably at your most confident – the key ingredient to true style.

 

SmallBizLady: Gilt Groupe has since expanded beyond fashion with sister sites such as Jetsetter.com for travel and GiltCity.com for local deals and finds.  Was this always part of the plan?

Alexis Maybank: We have always been close to our customers. We both spend a lot of time with our members, listening to their perspective and ideas and responding to their feedback, as well as investing in regular customer research. Our members communicated clearly that they were not only interested in fashion and decorative items, but they lived or aspired to live a luxury lifestyle which included travel, local experiences, food and wine. We incorporated this feedback into our business and our offerings.

 

SmallBizLady: What are some tips you can share to help people maintain their corporate culture during major company growth?

Alexis Maybank: It is not always easy to maintain a corporate culture as a company grows, but it is important and is absolutely worth the investment. Establishing a vision and a mission and regularly communicating them to the employee base and to potential hires is important. Think about company culture when hiring. The cultural fit for a candidate is just as important, and sometimes even more important, than the candidate’s skill set.  The best way to select individuals who fit your company’s culture is to include employees in the hiring process who embody the culture and are really good at vetting for certain values in the hiring process.  Make sure they are involved in training new hires, too.  You can even do something as simple as hosting lunch or after-work cocktails.  No matter what however, the company’s culture will always be a reflection of the leader or leadership. So you must lead based on what you value culturally.  Any disconnect will lead to a shift, even if not intended.

 

SmallBizLady: What challenges is Gilt currently facing and what are you doing to overcome them?

Alexis Maybank: Our site has always centered on the excitement of fresh inventory daily at insider prices and our customers know we have selected the best of the best from a collection or a designer, so they don’t have to look at everything or spend hours shopping.  It’s a simple, fast and fun experience that revolutionized online shopping.  As we grow into more lifestyle categories and offer hundreds of sales weekly now, we must focus on keeping the shopping experience as exhilarating, speedy and entertaining. This means we have to invest heavily in anticipating what each customer wants to shop for when s/he visits our site.  People want to see the 15 sales best for them – not everything — and feel ‘wow, Gilt really knows me.’  Therefore we are investing in understanding people’s preferences and shopping patterns so that we can deliver the most personalized shopping experience on the web to each person and allow her / him to discover the right products quickly.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter.  Here’s how to participate in #Smallbizchat http://bit.ly/S797e 

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

 

 

 

 

 

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Smallbizchat Celebrates 3 Years of Helping Thousands of Entrepreneurs

By on April 25, 2012 in Business Inspiration, Melinda Emerson @SmallBizLady, SmallBizChat

Today marks the third anniversary of my Twitter talk show #Smallbizchat.

We launched the weekly #Smallbizchat, in April of 2009, as a peer-to-peer mentoring program to help early stage entrepreneurs get answers to their small business questions. The goal was to provide information to help end small business failure.  With 82% of small businesses going out of business in five years, we wanted to do something that would really be impactful by giving people information that, in many cases, they had no idea was critical to their business success.

Nearly 150 shows and over 150K followers later, #SmallBizChat has become an institution on Twitter as one of the longest running tweetchats. @SmallBizChat’s third anniversary show is tonight Wednesday April 25, 2012 from 8-9 pm ET, with guest Alexis Maybank, Co-Founder and Chief Strategy Officer of The Gilt Groupe www.gilt.com, one of the top online members-only shopping websites. Maybank is also the co-author of the new book for entrepreneurs “By Invitation Only: How We Built Gilt and Changed the Way Millions Shop.

My inspiration to launch the #Smallbizchat community happened after I wrote my bestselling book “Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works” (now in its third printing). Even before the book came out, I wanted to reduce the learning curve as individuals attempted to start and grow their small businesses. My message now reaches 1.5 million entrepreneurs online weekly and has created an additional career for me as social media marketing expert.  In fact, more people know me as @SmallBizLady than my real name.

My blog SucceedAsYourOwnBoss.com, which is syndicated by the Huffington Post, has become a valuable resource to small business owners worldwide and Forbes Magazine named me #1 Woman for Entrepreneurs to Follow on Twitter.

It has also afforded me the opportunity to be featured in The Washington Post, The Wall Street Journal, The New York Times, Fortune, USA Today, and Black Enterprise; a regular contributor to OpenForum.com, SecondAct.com and Entrepreneur.com, BlackEnterprise.com and Essence Magazine. And a featured a speaker for such organizations as the U.S. Chamber of Commerce, INC Magazine, Bloomberg, #140 Conference, New York Expo, National Association of Community College Entrepreneurship and The Pennsylvania Governor’s Conference for Women.

My weekly interactive Twitter talk show #Smallbizchat, has given me the platform to help millions of small business owners. Doing a live show every week is a major commitment, but I love seeing chat participants “get it” – that charges me up every time. Tonight’s third anniversary show #Smallbizchat will feature Alexis Maybank Co-Founder of Gilt.com on the topic: “How to have a million dollar membership site. To celebrate the anniversary, we’ll give away copies of my book, Maybank’s book and limited edition #SmallBizChat t-shirts.

How does the #Smallbizchat work? Every Wednesday, Twitter users log onto tweetchat.com or tweetgrid.com to follow the interviews I conduct with noted small business experts, live at 8 pm ET. The expert guest types answers to questions using the using their Twitter account and the hashtag #Smallbizchat.  Expert guests have included best-selling authors and small business experts Michael Gerber, Anita Campbell, Alan Weiss, David Allen and Peter Shankman many others. Each week, hundreds of participants join in to learn from Emerson and the guest, plus share what’s going on in their small businesses as well.  Here’s more information on how to participate: http://bit.ly/S797e

About #SmallBizChat @Smallbizchat hosted by Melinda Emerson, @SmallBizLady, is an online community for emerging small business owners whose reach exceeds 1.5 million readers weekly. Committed to creating and sustaining a supportive network where all business owners can find answers and inspiration in their business endeavors. Melinda Emerson is regarded as America’s #1 Small Business Expert, with a fast-growing online brand providing resources for emerging and existing small business owners. Emerson’s corporate clients include Pitney Bowes, Deluxe, FedEx, American Family Insurance, Bloomberg, Walmart.com, Wells Fargo and Xerox. Emerson is a proud graduate of Virginia Tech.

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How to Use Facebook to Grow Your Small Business

By on April 19, 2012 in Q & A Interviews, SmallBizChat, Social Media

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with AK Stout @akstout18. AK has been working with social media for the past 6 years,  as one of the first group introduced to Facebook.  AK prides herself in finding ways to utilize her knowledge and experiences in conjunction with the ever-expanding mix and advantages of new media tools to help businesses enhance their online footprint. Check out her website http://www.sayingitsocial.com

 

SmallBizLady: Should I use a Facebook Page, Profile, or Group for by business?

AK Stout: Businesses should use Facebook Business Pages in order to be in ompliance with Facebook’s Terms of Service and to reap the best business benefits on Facebook. To create a Facebook Business Page go to: http://www.facebook.com/pages/create.php

 

If you have already set up your business on Facebook and you accidentally set it up on the personal profile platform (if you have to approve ‘Friends’ for your business – you have a personal profile) you can migrate your Profile to a Page while retaining ‘Friends’ and ‘Subscribers’ as ‘Fans’ by going to: https://www.facebook.com/pages/create.php?migrate

If you are using a Group for your business there isn’t a feature for converting to a Page so you will have to set up a new Page and let your group members know how to find the new Page.

 

SmallBizLady:  What are the business benefits of a having a Facebook Page?

AK Stout: In short, exposure. Facebook Pages are indexed by search engines so if you are posting content relevant to your business you have the potential of having your Facebook Page show up in search engine results.

Having a presence on Facebook also helps keep your business top of mind for your audience. Every time you post something, it could potentially be seen by your ‘Fans’ and while a ‘Fan’ may not need your product or service right then and there, if they keep catching your posts, your business is more likely to come to mind when the time does come to make a purchase decision.

Additionally, whenever one of your ‘Fans’ takes action on your page (posts, likes, comments), that action appears in their activity feed and subsequently in the news feed of their personal network for all to see.

 

SmallBizLady: I created a Facebook Page, why doesn’t anyone ‘Like’ it?

AK Stout: As wonderful as it would be to set up a Page and have people automatically flock to it; that is simply not reality. The next step of the process is to actually let people know you have a Page and to make it as easy as possible for it to be found.

The first step is to click on the button within your Admin Panel that says ‘Build Audience’ and then invite your Friends to ‘Like’ your Page.

Next you’ll want to advertise your Faecbook Page EVERYWHERE. Some places to make sure you have a button, link, or display URL to your Facebook Page would be: your website, your email signature, your personal Facebook, your eNewsletters, printmaterial and even in-store signage.

I always recommend thinking about every point of contact you could have with a prospect or customer and make sure that there is an option for them to ‘Like’ your Facebook Page at that time.

 

SmallBizLady: How do I come up with content to post on my Page?

AK Stout: It is best to post a variety of statuses: links to articles, links to your own blog posts and content, pictures, videos, questions, and quotes. Continually posting the same of one type of status becomes boring for your ‘Fans’ and you will begin to lose their interest.

I recommend setting up Google Alerts to keep track of what is going on in your industry and then pulling quality articles that come to your email to post. When you post blog posts and articles, don’t just post the link, ask a thought provoking question about the article to encourage ‘Fan’ participation.

Multimedia posts have shown to attract the most interest so do not neglect these types of posts.

 

SmallBizLady: When is the best time during the week to post on my Page and how often should I post?

AK Stout: The best day and time to post on your Page depends upon your audience. I’ve found the only way to figure this out is with experimenting and analyzing trends. For the first month or so of Facebook marketing post at all different days and times then begin looking at your Facebook Page Insights to see when your posts are receiving the most impressions and interactions.

As a basic rule I recommend posting 1-2 times per day. There are some Pages that can get away with posting more times than that but you run the risk of irritating your audience and getting ‘unliked’. If you have the content and you want to post more than 2 times per day – give it a try and use your Page Insights to see how your impressions and interactions fair and if you are being ‘unliked’ – if your stats are dwindling you will know your audience thinks it’s too much. If your stats aren’t affected – post away! If you can’t post for a day – don’t panic, just make sure you get a few posts in per week so that if someone stumbles upon your Page they won’t think you’ve abandoned the Page.

 

SmallBizLady: What is an appropriate response time for when people post on my Page?

AK Stout: As soon as possible and before you put out another status update. The worst thing to do is have questions and comments posted on your Page and then you post a status update leaving those people feeling ignored.

Make sure you have post notifications enabled to be delivered to your email and respond at your next opportunity – letting no more than 24 hours elapse. To really impress your audience, carry an email and web enabled smartphone and respond on the go. Nothing makes a Fan feel more appreciated and cared for than an immediate response.

 

SmallBizLady: How should I address negative comments on my Page?

AK Stout:: Unless the negative comments are offensive and have vulgar language do not delete them – deleting negative comments will only infuriate the ‘poster’ and encourage them to continue posting unfavorable comments.

Addressing negative comments in the public eye is not necessarily a bad thing because it shows that you care about your business and your customers. If you can address someone’s problem in a timely manner you may just be able to turn their opinion of you around because they appreciate your desire to help.

If you don’t immediately have a response at least comment to let the person know that you have received their question/comment and that you are looking into a solution and will get back to them. Just the acknowledgement can go a long way.

 

SmallBizLady: My Facebook Page URL is really long and ugly, how do I make it short and customized to put on my print material?

AK Stout:: You can create a custom URL in the form of facebook.com/username by going to http://facebook.com/username and choosing what you want to display for “username”. Make the “username” as close to your business name as possible. If you are going to be doing any print advertising you will want to do this so that your URL is short and memorable.  Note: You cannot create a custom URL for your Page until you have 25 ‘Fans’.

 

SmallBizLady: How can I ‘Use Facebook as my Page’ and why should I do this?

AK Stout: Click on the drop down arrow in the upper right hand corner of Facebook to the right of ‘Home’ and select the name of your Page. When you do that – any interaction you have on Facebook will be under the name of your Page.

You should do this to get on the radar of other businesses by ‘liking’ and commenting on their Pages. If you are going to do this make sure are adding value and not posting promotional messages about your own business that could be perceived as spam.

Doing this will not only get your business on the radar of other businesses but also on the radar of their audiences who will see your business name on the posts as well.

 

SmallBizLady: I saw that I can send my tweets on Twitter to my Facebook page, should I do that so I only have to post one time?

AK Stout: I do not recommend this. The format of a tweet can be confusing to Facebook users who do not use Twitter. @replies and hashtags will look like foreign and misplaced characters on Facebook. Also, when you are posting a link to a blog post or article via Twitter you lose the image of the post, post name, and description from showing on Facebook.

Finally if your strategy is to post many times throughout the day on Twitter that will lead to way too many Facebook posts. If you want to only post in one place, you can send your Facebook posts to Twitter by going to http://facebook.com/twitter

 

SmallBizLady:: I’ve heard running a contest is a good way to get more Facebook fans, how should I implement a contest?

AK Stout: Facebook has very strict guidelines about contests. The most important rule to know is that you cannot administer a contest directly on your Page without using a third-party application. To make sure you are in compliance, carefully read Facebook’s Promotion and Contest Guidelines at: http://on.fb.me/fbcontestguidelines

Once you have chosen an application to implement your contest make sure you let everyone know that you are having a contest – talk about it in your blog posts, email newsletters, website, other social sites and even in your email signature.

 

SmallBizLady: Should I add applications to my Facebook Page?

AK Stout: If you have a YouTube channel, adding a YouTube application to your Page can be a great way to tell your audience about your products and services. If you sell products, you can use Facebook applications to sell right from your Page. There are Facebook applications for a variety of different purposes. It’s important to understand that only three applications chosen by you show up prominently on your Page so while you can add more – just know they won’t all be readily visible without your ‘Fans’ taking action to look for more applications which doesn’t always happen.

 

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

 

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com

 

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

 

 

 

 

 

 

 

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Developing a Mobile Marketing Strategy with Kent Lewis

By on April 12, 2012 in Branding & Marketing, Q & A Interviews, SmallBizChat

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with Kent Lewis @KentLewis is President and Founder of Anvil Media and Formic Media, sister search engine and social media marketing agencies based in Portland, Ore. For more information visit www.anvilmediainc.com.

SmallBizLady: What exactly does the term “mobile marketing” mean?

Kent Lewis: Mobile marketing technically refers to any form of messaging or advertising targeted at portable devices, which typically means cell phones, but may also include iPads and tablet-style devices. For our clients, we typically focus on developing strategic plans around mobile-friendly websites, local SEO, mobile advertising, QR codes, location-based services, email & SMS messaging and mobile applications or “apps.”

 SmallBizLady: What does a small business owner need to know about the mobile web?

Kent Lewis: Small businesses have a few options when it comes to “mobilizing” a website. The easiest and most cost-effective approach is to develop a mobile-friendly website, designed in CSS, with small screens as a consideration factor. The site renders nearly as well on a phone screen as a monitor, if designed correctly. The drawback is that mobile browsers are not as robust and does not typically support Flash or Javascript elements, but HTML 5 provides a viable alternative for interactivity. The alternative approach would be to build your corporate website on a mobile-friendly CMS platform – one that automatically generates a mobile version of your website. The benefit of this approach is that you don’t have to design the website specifically for mobile, as that will be handled by the CMS platform. The downside is that there are compromises and limitations of such platforms. If mobile is a core strategy for 2011, the ideal approach is to create a dedicated mobile website (m.companyname.com) with unique content and features your mobile audience will need or appreciate (i.e. contact information, driving directions for starters).

SmallBizLady: How does local search engine optimization play into mobile marketing strategies for small business?

Kent Lewis: While your website should do the heavy lifting in terms of providing a resource for mobile-enabled audiences, there are third party local directories that are playing a larger role in mobile search, particularly for small businesses. The content typically seen on a computer screen in local search results is going to power mobile search and other mobile applications in the future.  For starters, be sure to claim & optimize local listings on Google Places/Maps, Bing & Yahoo! Local and related local directories. Specifically, Google Places pages now offer click-to-call capability, which will be appealing to mobile users who are more likely to convert.

 SmallBizLady: Can you explain the various mobile advertising opportunities available to small businesses?

Kent Lewis: While mobile advertising is in its infancy as an industry, it is growing quickly. The good news is that you can get started relatively quickly and easily with mobile advertising campaigns. For those of you with existing Google AdWords accounts, adding mobile is as easy as clicking a button. Beyond expanding your text and display ads to mobile searches, you can incorporate mobile-friendly capabilities like click-to-call and call tracking (via Google Voice) to measure effectiveness of mobile marketing efforts, without the need for third party technology.  If you’re looking for additional mobile advertising opportunities, consider testing mobile ad platforms like AdMob and mobile social advertising like 140 Proof for Twitter mobile applications. With a bit more time and resources, you can explore sponsorship opportunities within existing SMS, MMS and mobile apps. Last but not least, don’t forget to incorporate QR codes (customizable bar codes that embed a URL) into your print, and other display, advertising.

SmallBizLady: What are QR codes and how can a small business use them?

Kent Lewis: Quick Response or “QR” codes are essentially customizable bar codes that are read by mobile phones through the camera and an application. Most frequently, QR codes include an embedded URL, which offers small businesses an opportunity to incorporate a unique, trackable web page into offline/print marketing materials like business cards, newsletters, print, broadcast and outdoor advertising. Free QR code generators are available online and are easy to use, after which you can simply paste the new square code into your marketing materials and wait for the phone or inbox to light up!

SmallBizLady: What are Location-based Services and why should we care?

Kent Lewis: Location-based services (LBS) are generating buzz and ridiculous valuations, but can also be powerful tools for engendering loyalty from your customers. Getting started is relatively simple: create and optimize business profiles on Foursquare, GoWalla, Yelp Mobile, Google and Facebook Places. Don’t forget that these platforms are essentially virtual loyalty programs, which means they require a dedicated effort to maximize your marketing opportunities.

SmallBizLady: What do we need to know about email and SMS text messaging?

Kent Lewis: SMS messaging is going to be the “new email” – in that your focus will be to collect phone numbers instead of (or in addition to) email addresses. As such, make sure your email platform is mobile-friendly. Confirm your outbound emails render well in mobile browsers and that you are collecting opt-in SMS information and developing an outbound marketing strategy specifically for text messaging. To take full advantage of SMS, consider investing in your own dedicated mobile platform.  Leverage existing mobile texting platforms (like MooText or MobileStorm) to create, manage and track mobile marketing campaigns. These platforms typically incorporate a mobile CRM (MCRM) to expand your customer insights and data into the mobile realm.

SmallBizLady: When should small businesses consider developing an application?

Kent Lewis: While mobile applications or “apps” are all the rage thanks to big consumer brands, Google and Apple, they may not be a good fit for small business. Before investing in development or licensing of an app, conduct thorough research into your target audiences’ usage of mobile. If you have critical mass, then ask pointed questions of your target audience about their needs and wants in regards to a mobile app. From there, you can get a bid against your specification from qualified vendors. Incidentally, research indicates mobile users prefer games, music and access to social networks as core elements of mobile apps.

SmallBizLady: Any parting thoughts about mobile marketing for business owners to consider?

Kent Lewis: Regardless of your marketing objectives, target audiences, budgets and available resources, there are at least seven core strategies to consider when developing a mobile marketing strategy for small business. Conduct the necessary research up front to minimize your investment and maximize your ROI. Don’t forget to develop measurable goals, embed necessary analytics and start small with limited testing before committing significant resources. Like any marketing program, mobile requires a dedicated effort to be effective over the long haul.

 

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

 

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How to Grow An Online Business QA with Andrew Davis

By on April 5, 2012 in Grow Your Business, Q & A Interviews, SmallBizChat

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with Andrew Davis @CPC_Andrew .  Andrew is Author of the Merchant Comparison Shopping Handbook and the Director of Marketing for CPC Strategy, an online retail strategy consultant for retailers and agencies. You can contact Andrew directly at andrew@cpcstrategy.com 

SmallBizLady: What do small businesses need to know before setting up an online store?

Andrew Davis: Before setting up your online store you need to establish your niche and product line. Research needs to be done here. The clothing industry: Huge but there’s a lot of browsing online (low conversions, hard to start paid marketing campaigns) and a ton of online retailers who are already in this space. Unless you’re making really unique, cool, and trendy garments that you know will catch on, it’s probably not the right place for you to be.

You also have to be prepared for the technical resources involved in setting up an online store. Picking a platform, payment systems, tracking clicks and sales, monitoring your SEO efforts and social media profiles are all part of the online retail picture today. Without a knack for technology or a passion to learn it quickly you’ll soon be overwhelmed.

Prepare to learn how to use social media to it’s full potential, it’s becoming more interconnected with search, SEO, traffic, and sales generated by your website.


SmallBizLady: What are some DIY shopping cart solutions?

Andrew Davis: I would suggest ecommercetemplates. Very flexible, affordable and allows you to do your own customizations. Another choice is AspDotNetStoreFront, they’re a little more expensive. There’s also assisted avenues to go through first to help you get your feet on the ground and start selling. Ebay, Amazon and Etsy are a few of the most popular. I’d look at Magento as well. It’s an open source platform that has a ton of flexibility.
SmallBizLady: Does your shopping cart need to have a function to set up a store on Facebook?

Andrew Davis: No, but prepare to have a Facebook page sooner than later to at least use it as a marketing tool. If you’re interested in more info on Facebook commerce I suggest you check out this blog by a great ecommerce writer Linda Bustos on the 7 dimensions of Facebook Commerce http://www.getelastic.com/7-dimensions-of-facebook-commerce/
SmallBizLady: Is Paypal a viable way to collect money or do SMBs need a separate online merchant account?

Andrew Davis: There’s nothing wrong with using Paypal to get started. It’s a trusted payment system and will integrate with your site quickly. Some other options to consider is implementing Google Checkout / Google Wallet and Amazon Checkout so users with accounts on those popular sites can check out with easy.

Make sure you set up your merchant services and gateway through a local bank. You can also search for an authorize.net gateway reseller.
SmallBizLady: How should I design my site?

Andrew Davis: Work with a web designer who’s experienced in ecommerce to develop the look and feel of your site. User experience is KEY. Not what you think looks good. You want to make it as easy as possible for a user to use, navigate, and checkout on your site. After this is set up, test, test test. I’d check out http://unbounce.com for help testing landing pages and providing analytics you can extract to make informed decisions about your product page designs moving forward. Testing is key!
SmallBizLady: How do I record sales?

Andrew Davis: Besides your accounting behind the scenes, I highly recommend using Google Analytics as a free Analytics tool to track user metrics and conversions. Be sure to install the ecommerce pixel portion of Google Analytics and learn how to tag your product URLs with appropriate tags.


SmallBizLady: Once an online store is set up how should I promote it?

Andrew Davis: SEO, SEO, SEO, social media, social media, social media. These avenues will be the foundation of all revenue streams, even paid marketing channels. Start there first and really throw yourself and your team into getting a solid SEO strategy built out first. Listen to Gary V in the video above – he knows consumer trends better than anyone. If you market like him you’re going to be successful.

 

SmallBizLady: How do I stay ahead in the ecommerce industry?

Andrew Davis: Here are some industry experts and websites that will help you keep up with all the latest SEO and online marketing trends:

 Here’s some great websites to follow as well.

  •  SEOmoz.org
  •  GetElastic.com
  •  SearchEngineWatch.com
  • SearchEngineLand.com
  • Unbounce.com/blog
  • Distilled.net/blog

 

SmallBizLady:  How do I grow my online business?

Andrew Davis: Scale is so important for small businesses. The big guys (Walmart, Best Buy, Target) have already solidified their positions online and are able to scale with ease. You need to be prepared at the beginning to suffer some losses in short term revenue to invest in the long-term health of your business. Develop a strategy that embodies grabbing market share rather than short term profits and you’ll be in for a fun ride. It’s a hard line to walk when you’re a small business owner, but it’s important to understand if you want to bring your small business to the next level. SEO is the main area where you need to learn how to scale. Interns, outsourcing, family members, friends, all can be used to help you develop your social network and content creation strategy faster, which pays off in the long run.

 

SmallBizLady: How do I become more efficient in my online business?  

Andrew Davis: Efficiency in online retail comes from the tools you use. It’s going to be important to have a centralized area where you can discuss key tasks with your employees, like through a private Facebook group or Google+ circle.

That could actually be an interesting way to incentivize your employees to use Google+ more, which sends signals to Google that help with SEO. Other interesting tools and skills that can help speed up your efficiency are:

  •  Ghostery for finding out what tools and programs your competitors use (Chrome plugin)
  • Boomerang for Gmail
  • StayFocusd for Web Browsing (Chrome plugin)
  • Google Docs
  • Microsoft Excel / Access proficiency
  • HTML
  • CSS
  • In Design
  • PHP
  • Copywriting (so much SEO is about social media and blogging these days it’s important to understand each from a psychological standpoint, i.e. how to communicate to your audience, and from a work standpoint, i.e. how to achieve the goals with social media and blogging that you want to achieve)

Don’t be afraid to outsource menial tasks overseas. It’s not your best use of time to focus on repetitive, time consuming tasks. If you think you can outsource it and do it fine, do it, so you can focus on more high level strategy and project execution.

With online retail, it’s most important to know when to scale and how. You want to keep moving up. Some online retailers take over a niche or establish a certain market share but don’t know how to move up to the next level.

Start small, but make sure you consult with others more experienced on when and how to scale. This is also very important for online marketing strategy. You may think you know the best way to do something, but find out 6 months later a different way would have been better and saved you time.

Don’t be afraid to ask for help and soak up knowledge. Attend a conference or two. Some are free for online retailers.

How to Make Your Employees More Efficient:

You’ll want to incentivize your employees to achieve key goals in your business. For example, want a higher conversion rate? Give a bonus to your web designer if it goes up by X percentage points.

Want a bigger social media presence? Do the same.

Also, make sure each employee is in the most efficient spot for use of their talents. You as the head will be wearing many different hats, but you don’t want a web designer doing PPC, and you don’t want a data guy making design decisions. Everyone’s opinion counts, but know who’s best suited for what in your company.


SmallBizLady: How much upfront money do I need to get started?

Andrew Davis:  This depends on your category. You can get started for around $5k but be prepared to use $10k – $15k within your first year of operation if you want to make some steady growth. Growing your ecommerce store is all about investing for the long term upfront. Landing page testing increases your conversion rates which makes all other marketing initiatives more efficient. SEO should be the backbone of these marketing initiatives to test your landing page and refine your site before moving into paid marketing channels. Remember, paid marketing channels will give you quick money, but you can easily overspend and it can get out of control. And more important, paid traffic is not as good for the long term health of your business as is SEO. Think long term, control your niche, prove to Google that you are the expert in your field for your products (show them why with your content, videos, customer service strategy, etc) and Google will reward you with lots of organic traffic.

 

SmallBizLady: Anything else I need to know before I get started?

Andrew Davis:  Prepare to use email marketing to it’s full potential. Coupons are important as well. Shoppers want to feel like they’re getting a deal. You’ll be collecting the contact information of any user that completes a sale on your site, and that’s some of the most valuable data you’ll have. Work on increasing the lifetime value of these customers by sending them coupons and just saying ‘thanks’ for being a customer.

If you want a real world example of an online retail store that really knows how to treat a customer, check out www.heartypet.com.

 

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. 

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Who’s on #SmallBizChat this Month – April 2012

By on April 3, 2012 in SmallBizChat

Each week as Smallbizlady, I conduct interviews with small business experts on my weekly Twitter talk show #SmallBizChat.

Here are the upcoming guests for April 2012…

  • 4/4 Andrew Davis @CPC_Andrew Director of Marketing of CPC Strategy teaches How to Grow an Online Business
  • 4/11 Kent Lewis @kentlewis Founder, Anvil Media Inc. teaches How to Use Mobile Web Advertising for a Small Businesses
  • 4/18 AK Stout @akstout18 on How to Build a Facebook Strategy for Your Small Business
  • 4/25 Alexis Maybank @giltfounder  Co-Founder of the www.Gilt.com and author of By Invitation Only:  teaches How to create a mega membership website online

Join me live every Wednesday, 8PM EST on Twitter – here’s how: follow @smallbizchat on Twitter and click here for instructions bit.ly/S797e

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How to be a Finance Rock Star in Your Business with Nicole A. Fende

By on March 29, 2012 in Cash Flow & Finance, Q & A Interviews, SmallBizChat

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with @NicoleAFende. Nicole is The Numbers Whisperer™ and President of Small Business Finance Forum.  As a credentialed actuary with experience as a Chief Financial Officer, Investment Banker, and successful entrepreneur, Fende helps her clients reach their profit goals and learn how to effectively run the financial side of their business. In her book, How to be a Finance Rock Star: The Small Business Owner’s Ticket to Multi-Platinum Profits, Nicole shares how to reach multi-platinum profits.  For more info: http://financerockstar.com/

SmallBizLady: Why did you think is the biggest financial challenge holding back small business owners?

Nicole A.Fende: Not understanding the drivers behind profit.  You can sell a lot, but if your product or service is not priced correctly you may lose a lot of money rather than make a lot of money. 

A close second is thinking the numbers can come later.  That’s like saying I’ll worry about where to build my house after it’s built.  If you build on sand the house won’t last.  If your business is built on poor financial planning it is unlikely to last.

SmallBizLady: What does it mean to be a Finance Rock Star?

Nicole A.Fende A Finance Rock Star understands the basics of running a profitable business. They don’t need or want to know every last detail, but they do have a firm grasp on the fundamentals. Then they apply those fundamentals consistently in their business.  When appropriate they bring in an expert to handle the nitty gritty. 

Otherwise it’s like expecting a vocalist who can’t sing to be successful.

SmallBizLady: Why do so many business owners avoid numbers?

Nicole A.Fende: Fear.  For some it’s the fear of math.  The fear of not understanding how to analyze their business is common, so they just shove it away. However I also have clients who excelled at math in school.  For them it’s the fear of what the numbers will say about their business.  They’re afraid that the numbers will say their business can’t succeed. 

SmallBizLady: How can small business owners overcome their fear of finance?

Nicole A.Fende Would you drive down the autobahn in a sports car doing 80 MPH with your eyes are closed?  If you do that for more than few minutes you will end up crashing, maybe dying.  Running your business without understanding the numbers is no different.  You can’t see where you’re going, and sooner or later you will crash.

Face your fears.  If it’s the actual math that scares you get help from a coach, accountant or bookkeeper.  Think of it as Drivers Ed.

If it’s the fear of the answer, consider this.  Would you rather find out you’re heading over a cliff after you’re airborne or before?  If you know before you can change course and have a good chance of avoiding the crash.  You can’t avoid a problem you can’t see.

SmallBizLady: Financing a start-up is hard, especially if your credit is less than stellar.  What are some non-traditional ways entrepreneurs can get capital?

Nicole A.Fende: Crowd Funding has become quite popular online.  I call it the busking of Web 2.0.  You post a specific project or need online and then raise money for it.  Friends, colleagues, even strangers can support your initiative.  It is not a loan, nor is it charity.  The person or business raising money offers some type of incentive or experience to those who pledge money.

Another option, often overlooked, is eBay.  You can sell off any number of collectibles and dust collectors on eBay.  I’ve discovered the saying “One man’s trash is another man’s treasure.” is absolutely true.

Some other options I cover in my book include; Sponsorships, Customer Funding, Peer to Peer Loans, and Joint Ventures.

SmallBizLady: Why is expense tracking so important?  Do I really need to keep track of every $5 expense?

Nicole A.Fende: Every dollar of expense you don’t track is costing you $1.35!

So if you ignore a $5 expense it’s costing you $6.75 (5 * 1.35).  If you ignore $5 expense every week of the year it will cost you $351 (52 weeks * $6.75).   Would you throw away a check for $351 if I handed it to you right now?

Everyone hates tracking expenses (I do too!).  My personal favorite is Shoeboxed.com to automate that task.  Others include Keebo.com and Expensify.com.  You might consider hiring a bookkeeper if the online solutions are not a fit.  They are a cost conscious alternative to CPA’s.

SmallBizLady: One of your key mantras is “Time is money”.  What do you mean by that?

Nicole A.Fende: Time is your most precious, irreplaceable asset.  You can’t save time.  You can’t buy more of it.  When it’s gone it’s gone. 

Let’s say you work a 40 hour week.  Imagine that goes onto your financial statements just like your revenue.  How are you spending it?  Would you be embarrassed if you had to determine the return you are getting on your time?

If an hour of your time is worth $100, and you spend 2 hours a month on the free version of a service that costs $20 a month, are you spending your time wisely?  Treat your time like a bank account that gets filled up each week.  Spend it as carefully as you spend the cash your clients pay you.

SmallBizLady: What are some common pricing mistakes people make?

Nicole A.Fende:

  • Accounting for inflation.  Whether your business is a service business or produces an actual product you have expenses.  Those expenses will go up by at least the rate of inflation each year.  If you don’t include that in your price you will earn less next year than you did this year.
  • Assuming that if you sell enough you will make a profit.   This is false.  In fact the more you sell of an underpriced product or service, the more money you will lose!
  • Simply setting their price by looking at what their competitors charge.  First, do you even know if they make a profit?  Second, do you know what their expenses are?  Finally, would you let your competitor run your business?  Then why are they setting your price?

SmallBizLady: You’ve said that offering promotions is like giving customers money from your personal bank account.  Why?

Nicole A.Fende: When you set your price you assume a certain level of profit.  Let’s say it’s $100,000 a year.  You decide to run a sale.  It’s a big success, however the revenues you received were $10,000 less than at your regular price.  In other words, your business brought in $10,000 less in total money, but your expenses stayed the same.  That means your profit, the amount you can pay yourself, is only $90,000 this year.

SmallBizLady: So how can you offer a promotion and keep your profits?

Nicole A.Fende: The easiest way is to bump up all your prices to give a cushion for discounts and sales.  Another option is treat the revenue lost due to a promotion as a marketing expense.  The key is accounting for it somewhere.  If you don’t the only place left to get the money is from your pocket.

SmallBizLady: What are Key Metrics?

Nicole A.Fende: When musicians get on stage they don’t worry about every little detail.  If someone misses a chord, or steps in the wrong spot once, it’s no big deal.  The audience probably won’t even know and certainly will not remember.

However there are some problems which will kill a show.  All the stage lights go out.  The speaker system dies or gets stuck in one of those head exploding feedback loops. You may not be able to prevent a problem, but like the best live rock bands, you must be ready to fix it.

Key Metrics are the show stoppers for your business.  This should not be a long list, simple and short is your goal.  Examples include revenue, expenses, clients gained and clients lost.

SmallBizLady: Once I have my Key Metrics, what do I do with them?

Nicole A.Fende: Compare your key metrics to your experience at the end of every month.  This will tell you very quickly if you are on track or need to make a course correction.  Going back to our original example of the speeding sports car, Key Metrics let you know to keep going straight or if you need to turn to avoid going off a cliff.
If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter.  Here’s how to participate in #Smallbizchat http://bit.ly/S797e 

 

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

 

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How to Be Successful as a Franchise Owner with Dina Dwyer-Owens

By on March 22, 2012 in Mompreneurs, Q & A Interviews, SmallBizChat, Starting A Small Business, Women in Business

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with @DinaDwyerOwens.  She’s the Chairwoman and CEO of The Dwyer Group www.dwyergroup.com over such well-known service brands as Mr. Rooter, Aire Serv Heating and Air Conditioning, and Glass Doctor. She is also a past chairwoman of the International Franchise Association in Washington D.C., the world’s largest advocacy group for franchising. She’s the author of Live R.I.C.H.: How to build success in your company and your life with a proven Code of Values. And many people now know her form her appearance earlier this year on the CBS hit reality show “Undercover Boss” where she went on the front lines of her business in search of her company’s Code of Values at work. For more information www.dinadwyerowens.com

 

Smallbizlady: What exactly is franchising?

Dina Dwyer-Owens: Franchising is a business strategy – a method of distributing products or services. The “franchisor” lends a trademark, trade name and business system. The “franchisee” pays an initial fee and ongoing royalty for the right to do business under the franchisor’s name and system.

 

Smallbizlady: Where do I start if I want to buy a franchise?

Dina Dwyer-Owens: The best place to start is by finding something that you’re passionate about — something that you can look forward to doing every day. That is true of any career. But it is even more powerful when you plan to be your own boss and invest in a franchise! There are over 825,000 franchise businesses across 300 business lines, so the key is identifying which franchise opportunity best fits you and your personal and professional desires.

  1.  Visit www.franchise.org – the website for the International Franchise Associate to look at franchise opportunities.
  2. Talk to existing franchise owners of concepts that interest you.
  3. Request a Franchise Disclosure Document (FDD), a document required by law that details the franchise opportunity.

 

Smallbizlady: What does a franchise cost?

Dina Dwyer-Owens: Investment levels range from $5,000 to multi-millions. There are home-based businesses and then there are large retail opportunities. There is something for everyone and your ability to finance an opportunity will also help define the franchise that is right for you.

 

Smallbizlady: Am I more likely to succeed with a franchise?

Dina Dwyer-Owens: Franchising is not for everyone. And buying a franchise does not automatically guarantee business success. The system works IF you work the system. You should not expect to join a recognizable brand and sit back and expect the customers to find you. A good franchise owner is still proactive about marketing the business and following a system that has been proven and replicated across a successful brand. The most successful franchises still require hard work and dedication.

 

Smallbizlady: What are the biggest advantages of owning a franchised business versus being an independent business?

Dina Dwyer-Owens: There is a popular saying that franchising is about being in business for yourself, but not by yourself. The advantages to joining a franchise include: (1) buying power with vendors that command a better price for things needed to run your business, (2) national branding and name recognition, (3) support and training from your franchisor, (4) peer-to-peer networking to share best practices with others who know your business and are not your competitors, and more.

 

Smallbizlady: What are a few important things people should know about franchising?

Dina Dwyer-Owens: A franchisee is not completely independent. The franchisee will pay ongoing royalties and advertising fees to the franchisor for the rights to operate under that business.  The term of a franchise agreement is usually limited until that time that it comes up for renewal.  And, likewise, there is often a well-traveled exit strategy at a time that a franchisee wants to retire or desires to sell his or her business.

 

Smallbizlady: Are there special programs to help assist in purchasing a franchise?

Dina Dwyer-Owens: There are several. Two that come to mind are VetFran (which was started by The Dwyer Group) and MinorityFran. VetFran is now supported by the International Franchise Association and the US Department of Veterans Affairs and the Small Business Administration. Today, more than 450 franchisors offer military veterans their best financial discount on purchasing a franchise, and more than 2,100 franchises have been awarded through the program.

MinorityFran provides one convenient place where minority prospects can explore franchise opportunities from companies actively seeking minority franchisees. The program partners with Small Business Development Centers, Urban League chapters, and Minority Business Development Agencies among others.

Then there are also franchisors (like at The Dwyer Group) that assist in providing financing.

 

Smallbizlady: What are some of the latest trends in franchising?

Dina Dwyer-Owens: In today’s economy, it’s increasingly difficult to secure a loan for a small business – even for people with perfect credit. Yet small businesses in America are what have led our country through tough economic times again and again. As bank lending remains tight, franchisors and franchisees are working together to help people into business. At The Dwyer Group, we have always offered financing to qualified prospects. And there is a growing number of people across franchising who are taking advantage of programs like VetFran and other discounts, because together we are making the business world stronger.
Smallbizlady: You have coined the phrase “Live RICH” Can your define that?

Dina Dwyer-Owens: At The Dwyer Group, we operate our businesses with a Code of Values, based on the themes of Respect, Integrity, Customer Focus and Having Fun in the Process. That is what it means to Live RICH, and it’s at the heart of our corporate culture. I consider it a big reason why we are successful across our brands. We do not claim to be perfect, but our values provide us a roadmap to follow that allows us to do our very best. And I’ve written about it to share it with others in my book Live RICH.

 

Smallbizlady: You are the second generation in your family to run your company, in a male-dominated industry, no less. How do you do it?

Dina Dwyer-Owens: I surround myself with a great team, and each team member brings strengths to our organization that work together to create a great company and successful service brands. As for being a woman in my industry, I am also the target customer for our service brands. I am the woman of the house who hires our service brands in a majority of the jobs our franchisees perform. That is a wonderful perspective that we have embraced across our franchise family in putting “Customers First.” For the woman of the house, concerns go beyond just a service repair. There’s a branded van, a service professional in a clean uniform, booties worn in the house, a doormat with a logo and so much more that enhance the customer experience. Being a woman is a win-win in leading an organization that supports this level of service.

 

Smallbizlady: How did you define success in your 30s and How do you define it now?

Dina Dwyer-Owens: In my 30s it was about proving myself capable in the tasks of leadership. It was about attracting private equity and getting back to our roots in focusing on our core service brands. I traveled a lot. I was away from home a lot. But all the work by our team laid the foundation for an even stronger future. In my 40s, success is about growing our team and our brands to the next level with our next private equity partner. It’s championing what we know, which in fact has given me more time to prioritize. I still work hard, but I make more time for my family and my faith on a regular basis. I have more balance today, which I call a huge success.

 

Smallbizlady: If you could stand on a roof and shout small business advice to the audience below what would you say?

Dina Dwyer-Owens: Small business is empowering, and we need much more of it. Small business is the future. We’ve heard enough about the ills of Wall Street. Now it’s time to get back to Main Street and honor the men and women who are truly the backbone of our economy. More people want to be their own boss, want to determine their own destinies, want to create desirable workplaces and do things they are passionate about. Small business is championing those answers.

 

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter.  Here’s how to participate in #Smallbizchat http://bit.ly/S797e 

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

 

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure.  As CEO of MFE Consulting LLC, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine recently named her one of the Top 20 women for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog www.succeedasyourownboss.com Melinda is also the author of the national bestseller Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. (Adams Media 2010)

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How to Export to China as a Small Business

By on March 15, 2012 in Grow Your Business, Your Small Business

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with Frank Lavin @Export_Now Frank was America’s salesman in chief in his role as Under Secretary for International Trade at the U.S. Department of Commerce. Fluent in English and Mandarin, from 2001-2005, he served as the U.S. Ambassador to Singapore, during which time he negotiated the Free Trade Agreement between the US and Singapore. His company, Export Now is a service that allows U.S. producers to sell their goods on China’s largest e-commerce platform, Taobao. For more info http://www.exportnow.com

SmallBizLady: Why should small businesses be trying to export?

Frank Lavin: Sales growth can accelerate with a new sales channel. Look across the border. While the domestic economy is growing at about 3% this year, many countries expect 5, 7 or 9% growth in 2012. When a company enters new markets, it increases its customer base; and a larger customer base means increased sales; and ultimately a company with more sales will hire more workers. “Selling goods and services overseas should be a part of every business plan,” says the current Undersecretary of Commerce for International Trade, Francisco Sanchez.

 

SmallBizLady: Why is China a good target market for small businesses?

 Frank Lavin: China is not just the largest oversees market. Chinese consumers see American brands, from the iPhone to laundry detergent, as a sign of quality. A population more urban and more middle-class than ever before places a premium on products that represent high standards and sophisticated tastes. Families typically have one child but increasing levels of disposable income. They value American goods. In ten years, U.S. exports to China increased by 468 percent, a growth rate that is higher than the growth rate for exports to the rest of the world.

 

SmallBizLady What is the best way for a small business to sell in the Chinese marketplace?

Frank Lavin: E-commerce is a simple and efficient way to reach customers in new markets. The smaller the company, the less practical it is to learn a new language, deal with new tax codes and currencies and to take a huge global risk. E-commerce reduces those barriers and lowers the costs of entering a new market.

 

 

SmallBizLady: Why is e-commerce the best option for selling to the Chinese?

 

Frank Lavin: In China, e-commerce has grown rapidly as an alternative to shopping in physical stores. In a nation still building the highway and mall infrastructure American consumers take for granted, Chinese e-commerce has leapfrogged ahead, making online retail the best opportunity for Chinese consumers to find the right combination of variety, quality and price. To open a physical store, or a wholesale operation, a company needs an extensive on-the-ground sales and marketing operation. The largest e-commerce platform in China has 150 million active customers and $60 billion in annual sales — a platform your company can reach from your desk in the United States.  E-commerce allows a U.S.-based business to make targeted marketing investments — starting at almost zero. It is widely recognized as an innovative tool that can help U.S. businesses sell to these markets more easily and more cost effectively.

 

SmallBizLady: So what are some of the options for selling in China?

Frank Lavin: There are four other steps many small businesses take to start selling in China: 1. Go to China on your own or with others in your industry and showcase your products at trade shows to find a local distributor. 2. Go on a trade mission organized by state or regional officials. 3. Contact a commercial officer at the U.S. embassy and ask to participate in the government’s match-making program that helps companies find distributors. 4. Check with your current customer base to find customers migrating to China or with China connections and follow your customers.

The largest global companies can afford to have managers fly to Shanghai, set up distribution networks and solve legal and customs issues.. Most small or mid-size companies that want to start with a modest investment under carefully controlled conditions will prefer to start with a partner that understands China. A partner with an e-commerce and logistics infrastructure can make your entry into a new market even easier.

 

SmallBizLady:  As a small business owner, what do I do to get started exporting to China?

Frank Lavin: Our book, “Export Now,” points out the mistake many companies make, which is to do nothing. Companies that fail to plan or to make an effort to learn local market conditions also fail to win new customers. We emphasize four steps: understanding how customers differ, understanding competitors in the new market, understanding the capabilities you need to win, and understanding the steps you need to take to close the capability gap.

 

SmallBizLady:  What can a small business owner do to encourage sales with an e-commerce solution in Chinese?

Frank Lavin: While e-commerce allows your product to speak for itself, a little help can spur sales. We will work with you to organize a focused online ad campaign, including product images, banners and a few videos that show your product in a Chinese context. Even a modest investment can make a difference. The Taobao search window is searchable in English so you can see how similar products are presented on the site, even if you do not understand the language. You will get all the customer data we have, including comments. Taobao has a culture of substantial commenting activity and that can help businesses as they shape a product line for export. (For example, shoppers will request products in particular colors and in this year, the Year of the Dragon, they will tell you that dragon logos are popular.)

 

SmallBizLady:  Who are the Chinese customers?

Frank Lavin: Taobao has 150 million active users. China has an ambitious, hard-working middle class with a strong appreciation for American consumer products. Chinese consumers aspire to the world-class quality they associate with top brands. Urbanization has pushed the population into cities and now more than half of Chinese live in urban areas. Five cities — Chongqing, Shanghai, Beijing, Guanzhou and Tianjin — each have populations of more than 10 million and another 150 Chinese cities each have populations of more than 1 million.

 

SmallBizLady:  What attracts Chinese consumers to buy certain products?

 Frank Lavin: The American lifestyle and its association with American brands attracts Chinese consumers. Small and mid-size businesses do best with premium and novelty products, items that Chinese consumers will associate with quality attributes. Some categories that draw particular interest are baby items that speak to the Chinese focus on education and safety, automotive items that appeal to car aficionados, and luxury home and beauty items. Exporters have found it is best to not focus on price competition but to emphasize a brand or product attribute that is well respected by consumers.

 

SmallBizLady: How do I win against copycat products?

Frank Lavin: The best defense is a strong offense. The single most important step to combat the possibility of intellectual property theft is to be in the marketplace yourself — and to go as fast as you can. Chinese consumers are increasingly sophisticated and they have demonstrated that they value an authentic product. Companies from Apple to Levi jeans have learned the advantages of bringing their own products to the market. Using a trusted partner increases the likelihood of success.

 

SmallBizLady: How can a small business owner sell agricultural products in China?

Frank Lavin: Food, cosmetics, wine, and pet food each require special licensing. Packaged goods from the United States are popular with shoppers. Stability is important, though. For now, no ice cream please!

 

SmallBizLady: How does Export Now work?

Frank Lavin: Export Now partners pay an annual service fee of $3,000. The annual service fee covers product listings and warehousing for one year.  Export Now partners also pay transaction fees for all products sold. Fees depend on individual tariffs and other costs and range from 15% to 20%. All in all, your margin for sales to consumers in China will be very close to your margin for sales in your home market. How the product is positioned and described to consumer is vital — so we do the translations by hand. Export Now handles all language, legal and customs issues. After our partners ship merchandise to the company’s depot in Long Beach, Calif., Export Now consolidates the goods it collects into containers that it ships by sea to its warehouse in Shanghai. Consolidating shipments and the use of sea routes instead of air cargo provides significant savings, which allows you to sell your products to Chinese consumers at attractive price points. On arrival, Export Now shepherds the merchandise through customs and handles the relevant duties and tariffs. Our China team also handles the relevant Chinese product labeling required by local authorities.

 

SmallBizLady: What are the three biggest things a small business owner should keep in mind as they begin to market their products to China?

Frank Lavin:

  1. Move incrementally. This mammoth market can absorb your entire marketing budget. Come up with a plan that allows you to move step by step and adjust as you go along.
  2. Find partners. Partnering with intermediaries can mean finding a distributor, a licensee or another ally who will be a force multiplier for you.
  3. Actively listen to customers. Be sure you have a robust feedback mechanism that allows you to hear about specific product attributes that may work well in the Chinese market. For example, Dunkin Donuts found success with a pork-flavored donut offered in its Chinese stores.

 

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

 

 

 

 

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How to Market with Your Mouth: Using Speaking to Generate Business

By on March 8, 2012 in Branding & Marketing, Q & A Interviews, SmallBizChat

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with David Newman @dnewman. David is the author of several books including 21 Secrets of Simple Marketing Success and The Speaker Marketing Toolkit. David is also founder and CEO of Do It Marketing, a marketing strategy and “done-for-you” services firm, and http://www.SpeakerCEO.com, an online resource community for professionals who want to speak more profitably. A frequent speaker at business events and in the media, he has been featured in Entrepreneur Magazine, Sales & Marketing Management, Selling Power, and on FastCompany.com. Here’s more information http://www.doitmarketing.com

 

SmallBizLady: What does it mean to Market with Your Mouth?

David Newman: A lot of business owners work hard to interrupt people with cold calling, advertising, and spam. That era is over. We’re living in a world of voluntary attention. Which means – first you earn their attention, and then you have a chance to earn their money.

“Market with your mouth” is shorthand for one of the best and most direct ways to earn attention. As a speaker – if you’re in front of the right room with the right people and for the right reasons – you have at your disposal a tremendously powerful marketing platform. You’re an authority. You have high visibility. You have the opportunity to deliver high value. And if you do it right, you earn high trust.

At that point, the marketing and sales process is 80% finished and now you’re simply in the process of filtering and sorting your best-fit prospects and you invite them to do business with you!

SmallBizLady: Why should someone consider the strategy of generating business leads from speaking?

David Newman: Every consultant, solopreneur, and small business owner needs to establish their thought-leadership in order to stand out from the crowd and be heard above the noise. No matter what business you’re in, there’s simply no room for yet another “Same-O Lame-O” player. Their days are over and their influence and impact are declining… daily… and dramatically.

So that means that every day you wait to claim your place among the thought-leaders in your industry and in front of your target buyers, you’re losing time AND money. Don’t let that happen to you. The good news is that independent research from the Wellesley Hills Group with over 200 buyers of professional services shows that at any given moment, between 52%-72% of them are willing to change professional services providers.

Across all service areas, more than 50% of purchasers could be considered Switchers, open to changing providers, ranging from 52% Switchers for Legal Services to 72% Switchers for Management Consulting. So the startling truth is that if you market with your mouth, you’re never more than one good presentation away from generating new clients and new revenue.

SmallBizLady: You emphasize choosing a target audience and a very specific niche topic when you speak. Why is that important?

David Newman: Whenever I work with clients 1-on-1 or speak to groups of business owners, we always ALWAYS start with identifying specifically WHO you are marketing to. I call this your “Buyer Persona” and we use 7 key questions to flesh out the specific characteristics of the folks who are your highest-probability prospects.

You need to understand what makes them tick – what are their characteristics, traits, attitudes, and values? What’s important to them? What headaches and heartaches do they have when it comes to the types of problems that your product or service is brilliant at solving? What do they SAY about their situation and what WORDS do they use to describe it? This is what I call “learning to speak prospect language about prospect problems.“

Until you can do that, NO marketing strategy will work, and especially speaking where your main focus is on articulating problems you can solve and sharing answers to those problems that your audience can take away and use immediately.

SmallBizLady: We all want to spend more time in front of right-fit audiences. How do we get started finding them?

David Newman: That’s a great question that I get asked a lot: What groups do my ideal clients belong to? This will obviously determine which audiences you want to be in front of.  Here’s my suggestion: Don’t guess – ask!

Here is the script to ask your current clients, prospects, and centers of influence who know your target market well…

“I’m looking to speak more in front of groups of [BUYER PERSONA]. I’d love to get your advice, insights, and recommendations.”

Another way to ask might be…

“Of all the industry groups and associations you belong to, which ones provide the most value in terms of the speakers and programs they present?”

With both of these scripts, the natural follow-up discussion would center around your desire to serve this industry/community more and to share information with them that would help them become even more successful.

Likely outcomes from you having this discussion with your best clients would include:

  • Names of specific groups, associations, and conferences
  • Names of specific people serving in board or programming positions
  • Names of other executives or decision-makers in the field
  • Names of other companies or firms in need of similar information/services
  • Specific networking introductions
  • Offers of referrals to the individuals they already know
  • An opportunity to reciprocate and ask how YOU might be of service to THEM

SmallBizLady: How can we find even more venues for speaking on top of the ones our best clients share from their personal experience?

David Newman: Finding venues to speak profitably could be like trying to find a needle in a haystack. Here are some resources to help you laser-target your speaking to your best-fit audiences:

  • The Directory of Associations online (www.marketingsource.com)
  • National Trade and Professional Associations of the United States – hardcopy from www.columbiabooks.com
  • www.LeadershipDirectories.com for access to 500,000 corporate and association decision-makers (this comes at a hefty $5,000 annual fee)
  • Secret Tip: Your Public Library – Free access to high-priced proprietary business databases (including all of the above PLUS Hoovers, D&B Million Dollar Database, InfoUSA and most likely several industry-specific ones to boot!) All paid for with your local tax dollars – so enjoy!

SmallBizLady: How can our listeners design what you call a “client magnet presentation” when they go out to speak?

David Newman: At this point, it might be tempting to create a presentation based on your professional passions, interests, or favorite topics within your expertise. That would be a huge mistake. DON’T do it!

For your speaking efforts to pay off in terms of marketing results, you need to design your presentation content NOT around what YOU are passionate about, but what your buyers and prospects are passionate about!

Imagine a pair of X-ray vision goggles that you are now using to zoom in on your target clients. Ask yourself the following:

  • What do they want?
  • What are they missing in their lives?
  • What hurts?
  • Where is the pain?
  • What are they yearning for?
  • What do they worry about most?
  • What are their biggest headaches, heartaches, and hassles?
  • What are their urgent, pervasive, and expensive problems?

Build your presentation around THOSE specific questions, problems, challenges and obstacles. And don’t hold back. Unleash your best material, most powerful tools and templates, and give ‘em everything you’ve got. If they see the value in your presentation, believe me, they’ll be ready to buy at the appropriate time. And the person they’ll want to buy from is the one they already trust to deliver top-notch answers and specific hard-hitting ideas – YOU!

SmallBizLady: What’s the first step that business owners should take to find those specific “hot button” issues to address in their talk?

David Newman: What’s the first step? Research. Preparation. Homework. Industry, regional, business, and company news is now at everyone’s fingertips on the Internet. Look for verbatim quotes, video clips, audio interviews to capture as much as you can from representative members of your buyer persona group. Search Google, YouTube and LinkedIn. Scan industry and association message boards.

Then go directly to the source – your real live customers and prospects. If you’re not intelligently researching your prospects’ issues, challenges, and pressures, how can you possibly come in with credible high-perceived-value solutions? One of the best ways to approach prospects is with:

  • Interviews
  • Surveys
  • Research
  • Data gathering

It positions you and your firm as an expert resource and it gives you valuable data you should be getting anyway!

SmallBizLady: What about the nitty-gritty of putting a presentation together. What should it be titled? What should it include?

David Newman: Start by sitting down with a clean sheet of paper. Using the following “presentation idea starters,” jot down 3-5 potential topics/titles in each category based on your topic expertise.

Remember your speech should focus on addressing your buyer persona’s most urgent, pervasive, expensive problems. What are the personal and professional heartaches and headaches that they want answers to? In which areas are they hungry for strategies and tactics?

  • How to…
  • 5 Strategies…
  • 3 Keys to…
  • The #1 problem with… and how to solve it
  • Unlocking your…
  • The 3 biggest traps in [topic] and how to avoid them
  • 10 Tips for…
  • Everything you know about [topic] is wrong

Have some fun with these – brainstorm and jot down key words and short phrases under each one as they occur to you. Then begin to rearrange, compile and combine them until something emerges that you can get excited about. Think in terms of 5-7 mini-topics or “modules” – people can’t absorb more than that anyway.

And it’s better to hammer home 5 key points with clarity, conviction, and specific detailed answers than to do a “surface skim” on 20 or 30 sound bites that leave your audience hungry and slightly unsatisfied. The perception of “meat” and value is directly related to DEPTH and not BREADTH of your topic expertise. It’s MUCH better to be a mile deep than a mile wide!

SmallBizLady: And so how do you convert an audience of people grateful for your insights into a pool of prospects for your business?

David Newman: That is very much the secret sauce and it’s where a lot of business owners – including professional speakers, by the way – fall down on the job! Every time you speak, you want to make sure you leave with between 90% and 95% of your audience’s business cards or contact information.

Simply say, “I have a fabulous resource that I’m going to send to you.” This could be a handout, a special report, a buyer’s guide, an implementation pack, a starter kit, anything is good as long as it has high perceived value and direct relevance to your topic. Then you use the following script: “If you would like that resource, just give me your business card.”  And then here’s the language that’s important:

“I would also like to invite you onto my [TOPIC] tips list.  If you would like that to happen, just give me your card.  If you do not want that to happen, write ‘NO TIPS’ and I will still send you your gift but then I’ll tear up your card and throw it in the trash and you’ll never hear from me again.”

Folks usually laugh or smile at that – and then they get a visual in their head of you tearing up their beloved business card that they are so proud of and you get 95% of the cards in the room and only 2-3 will have “no tips” written on the back.

This one strategy will result in tens of thousands of dollars of business for you – if you do something smart with the business cards.  Put them in some kind of auto-responder, follow-up system, subscriber list, Constant Contact, whatever it might be – but you MUST follow up. “The fortune is in the follow-up” has become a cliché for a reason – it is 1,000% true!

The spinoff business for your company’s products and services will surely come from the “drip marketing” that you’re able to do after capturing your audience’s contact information and sending high-quality, high-value follow-up materials to them on a monthly basis. Don’t believe all the “seminar selling” nonsense you hear from the “get rich quick” hucksters on the web. Fact is, slow but steady wins the race for 99% of small business owners – unless you happen to be selling sleazy “get rich quick” nonsense which I recommend against doing!

SmallBizLady: Is there an online or virtual version of the “Market with Your Mouth” strategy?

David Newman: You bet – and you and I are both doing it right now! Whether you choose blogging, Twitter, Facebook, LinkedIn, YouTube, Vimeo, Skype, Slideshare, iTunes – any time you are sharing your face, your voice, and your expertise, you are marketing with your mouth.

Look, the sad truth is that generalists die on price and specialists win on value. That means value that you GIVE away, value that you charge a little for – like your $20 book – and value that you charge a LOT for like your premium flagship products and services. The other thing that specialists do is they publish, they speak, and they are generous with their time, talent and expertise.

Do webinars, host teleseminars, be a guest on radio shows and podcasts and TweetChats! So yes, social media sharing and content marketing ideas are definitely the virtual versions of “market with your mouth” strategies!

SmallBizLady: This sounds like a lot of work – how can we make it manageable while still running our business?

David Newman: Civic and community groups are a great place to start if you want to start locally. They are always looking for speakers and if you have energy, enthusiasm, and a valuable message with relevant take-aways, you WILL get business from it. Or at the very least you’ll get referred and introduced as a business owner worth getting to know.

Does video, audio, and other content generation take time? Yes it does. But the sources you can use are also right at your fingertips. Look at your most recent customer service issue. Look at the most recent client conversation you had. Look at the kinds of customer questions you get all the time – those answers, insights, and recommendations are the raw material for your “market with your mouth” strategy and they come in ALL the time. Often we don’t need to create content – we need to RE-create content that we’re already sharing during the course of running our day-to-day business.

SmallBizLady: Given everything we discussed here, what are the top three strategies you suggest our listeners focus on?

David Newman:  Figure out the audience you want to serve the most because they are your peeps, your tribe, your natural followers. Then figure out what they are passionate to learn, to do, or to become. Finally, start talking about, sharing, and connecting them with resources that solve those specific pains, problems, headaches and heartaches. Do so publicly through speaking, publishing, networking – both online and offline – and your reputation as being a source of valuable expertise will spread. Once you’ve laid the ground work to become visible, trusted, and valuable – the floodgates will open for you and you’ll be in the enviable position of NOT chasing business, but rather filtering and sorting the best prospects whom you’d like to hire as YOUR next customer! In closing, there’s a fourth strategy which is a gift from me – if folks would like a copy of my 96-page Strategic Marketing eBook, please visit www.doitmarketing.com to get it for free.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also the bestselling author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

 

 

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Who’s On #SmallBizChat March 2012

By on March 2, 2012 in SmallBizChat

Each week as Smallbizlady, I conduct interviews with small business experts on my weekly Twitter talk show #SmallBizChat.

Here are the upcoming guests for March 2012…

  • 3/7 David Newman@dnewman of Do It! Marketing shares How to Use Speaking to Grow Your Small Business http://www.youtube.com/watch?v=kK-vzSriJew
  • 3/14 Frank Lavin @Export_Now shares How to Export to China. Joining us from Asia- He’s the Former Under Secretary for International Trade at the U.S. Department of Commerce
  • 3/21 Dina Dwyer Owens @DinaDwyerOwens Chairwoman and CEO of The Dwyer Group From Undercover Boss shares How to Live Rich in Your Small Business
  • 3/28 Nicole Fende@BizFinanceForum author and small business coach on  How to be a financial rock star in your small business

Join me live every Wednesday, 8PM EST on Twitter – here’s how: follow @smallbizchat on Twitter and click here for instructions bit.ly/S797e

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How to Own Your Niche – #SmallBizChat QA with Stephanie Chandler

By on March 1, 2012 in Branding & Marketing, Q & A Interviews, SmallBizChat

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with Stephanie Chandler @bizauthor. Stephanie is the author of several books including Own Your Niche: Hype-Free Internet Marketing Tactics to Establish Authority in Your Field and Promote Your Service-Based Business. Stephanie is also founder and CEO of http://AuthorityPublishing.com, a custom publisher of non-fiction books, andhttp://BusinessInfoGuide.com, a directory of resources for entrepreneurs. A frequent speaker at business events and on the radio, she has been featured in Entrepreneur Magazine, BusinessWeek, Inc.com, and Wired magazine, and she is a blogger for Forbes. Here’s more information on her newest book Own Your Niche http://businessinfoguide.com/own-your-niche/

 

SmallBizLady: What does it mean to Own Your Niche?

Stephanie Chandler: A lot of business owners make the mistake of trying to be all things to all people or going after a market that is too broad. Life coaches are a great example. This is a wonderful field, but there are a lot of life coaches out there. If you want to stand out, you need to find your niche. Are you a life coach who works with busy moms? Executives? People struggling with relationships? Weight loss? Creativity? Choose your niche and you’ll be better able to connect with your audience.

Now imagine that you want to hire a life coach. You’re a baby boomer and you’re thinking about retirement and life transitioning. Are you going to be more inclined to hire a general life coach or someone who specializes in working with baby boomers?

It’s important to consider your opportunity within a niche market. Whether you’re a financial advisor who specializes in working with people going through divorce or a business consultant for family businesses, choosing a niche can make a dramatic impact on your business.

SmallBizLady: How does someone begin to establish authority in their field?

Stephanie Chandler: Even if you have chosen a niche, you will likely still have some competition. There may be other people who do what you do, but only you have your own unique way of presenting your subject matter—and when you do that, when you bring your own uniqueness and deliver it with authenticity, you stand out from the rest.

So the process starts by understanding what you offer that allows you to stand out. Think about some of the people we see in the media. There are plenty of chefs out there, but Rachel Ray got her start teaching quick and easy cooking. She doesn’t even have any formal chef training and leverages that fact to make her more relatable with her audience. Paula Deen is known for down-home cooking. Curtis Stone is about healthy cooking. Each has a niche (with plenty of competitors), yet they bring their own unique personality which is the foundation for establishing authority in their fields.

So it all starts with knowing what makes you different and capitalizing on that. Everything else is just tactics—stuff we will continue to discuss here.

SmallBizLady: You emphasize target audience and the importance of community. How does that factor into marketing online?

Stephanie Chandler: Your target audience is everything—they are your potential buyers. You need to define who they are, what they do, where they spend their time, and what their wants and needs are. What challenges do they have that you can solve?

So let’s say you’re a consultant whose niche is in working with technology companies. You need to understand who your audience is—it’s not going to be just anyone who works in a tech company, it’s going to be people who make the hiring decisions such as the directors of customer support. Now you need to understand their challenges and how you can help. Next, you need to figure out how to reach them. What forums do they participate in? What magazines do they read? What trade shows do they attend? How can you engage them?

Most importantly, how can you either participate in their existing communities or start one of your own? You might create a website for technology managers, start a group in LinkedIn, host a local group via Meetup.com, or even host your own online conference. A lot of business owners look for ways to capture clients one at a time, but I want to encourage you to think bigger. How can you reach a community of prospects at once?

SmallBizLady: We all want more website traffic. Can you explain search engine optimization in a way that listeners can understand?

Stephanie Chandler: SEO helps tell Google how to find your site. Google uses complex algorithms to determine in what order websites appear in search results. Your goal should be to show up in the top ten results—and it’s not necessarily as hard as you may think. Here are some quick ways to start optimizing your site:

  1. Identify key words and phrases that your target audience would use to find you, and then assign a key phrase to each page in your site.
  2. Incorporate that key phrase in the page title, the heading on the page, and within the first paragraph on the page. Also, add the key phrase one or two more times in the text and/or images on the page. Keyword concentration helps Google understand what the page is about so you have a better chance of showing up in search, but be careful not to over-do it. Google could penalize you for keyword “stuffing” so make sure you don’t go overboard.
  3. Add relevant incoming links (aka backlinks). When a website has lots of other websites linking to it, it tells Google that the site is popular—and therefore Google will give the site higher priority. Look for ways to add links from other sites to yours, especially sites from your industry and high-traffic sites. You can accomplish this by writing articles for sites and including your bio, developing alliances with others, and looking for other opportunities to add your site link in as many places as possible.
  4. Update your site often. Google gives higher priority to sites that update content frequently, so the more often you add new content, the better your chances of showing up in search. Also keep in mind that new content gives Google more reasons to find you. If you’re a dog trainer and you write an article about dog parks in Denver, there’s a darn good chance your article is going to appear when users search for a related phrase—especially if your site is optimized and you’re adding content frequently.

SmallBizLady: How can blogging benefit a business?

Stephanie Chandler: Well when it comes to search engine optimization, one of the smartest things you can do is add a blog to your website. A blog makes it easy to add new content on a regular basis, and Google will notice that. It’s also a fabulous tool for connecting with your audience.

Your blog also becomes the foundation of your social media strategy. For each new post that you write, you can share it with your social networks and drive traffic back to your site, and then engage with your audience through comments. Plus, your audience will share it with their networks and it all begins to snowball into some fabulous exposure.

SmallBizLady: What is “content marketing” and how can listeners use it to promote their businesses?

Stephanie Chandler: There are many ways to market content online. You can start by writing and distributing articles to websites that reach your target audience—many websites accept article submissions. You can also distribute articles with sites like ezinearticles.com, ideamarketers.com, and scribd.com.

You can also create podcasts and videos for promotion purposes. YouTube in particular is a great place to build an audience. If you search for just about any “how-to” phrase, like how to bake a pie, Google almost always returns a YouTube video in the top ten results. Why not make that your video?

Also consider search engine-optimized press releases, which can give an increase in traffic for a period of time and may even attract some media attention. You can also write guest blog posts for other sites, distribute reports or ebooks for other sites to use as give-aways, or create podcasts and distribute them via iTunes and other outlets. The whole purpose is to distribute content online and attract the attention of your target audience.

SmallBizLady: Can you talk a bit about information products like ebooks, reports, podcasts, etc.? How can business owners use these in their businesses?

Stephanie Chandler: I am a big fan of compiling information products for both marketing purposes and for sale. It starts by giving away a free report or recording or ebook as incentive for people to sign up for your mailing list. Then you can also create products that your target audience wants to buy.

Years ago when my son was diagnosed with food allergies, I searched online for a list of dairy-free and gluten-free foods. I came across a nutritionist’s website where she sold a comprehensive spreadsheet via immediate download and I happy plunked down $25 for the information. This is the kind of thing you can create for your audience—information that solves a problem for them, while earning revenue for you.

SmallBizLady: What about books? Is it beneficial for entrepreneurs to write a book?

Stephanie Chandler: Absolutely! A book is one of the best ways to establish yourself as an authority in your field, dazzle clients, attract media opportunities, get speaking engagements, and so much more. If you’ve been thinking about this, don’t put it off. It’s one of the most powerful things you can do for your business.

SmallBizLady: Are electronic newsletters still relevant for small business?

Stephanie Chandler: Indeed, e-newsletters remain a powerful marketing tool for businesses. The challenge today is to get people to sign up when we’re all so busy and inundated with email. This means that you have to do two things: give incentive to sign up and then deliver dazzling content. If your newsletter doesn’t provide value, arrives too often, or is all about the sale, your subscribers will disappear rapidly. But if you can make it interesting and valuable, that mailing list can be golden.

SmallBizLady: With so much buzz about social media, where should I focus my time—on Twitter, Facebook or LinkedIn?

Stephanie Chandler: If you’re overwhelmed, start with one. Facebook is a good starting point for getting comfortable with social media and learning how it works. Create a personal profile and start connecting with friends and family. Next, create a company page. Facebook is especially powerful for retail businesses and service providers that offer value to their audience, such as interesting blog posts and tips.

Twitter moves at lightning speed, but it’s also a powerful option for building an audience. LinkedIn is ideal for consultants and service-based businesses because users often search for people to hire there. And if you spend time on LinkedIn, be sure to check out the groups because that is where the action really begins to happen and you can easily reach your target audience.

SmallBizLady: Social media is so time-consuming. How do you make it manageable?

Stephanie Chandler: Use tools like Tweetdeck and Hootsuite to monitor your networks and to pre-schedule some of your posts. You also have to learn how to manage your time. I’ll hop on and check Twitter when I have a few minutes between calls, but then I’m right back out. If you’re really focused, social media can be effective in 30 minutes per day.

SmallBizLady: Given everything we discussed here, what are the top three strategies you suggest our listeners focus on?

Stephanie Chandler:  Figure out your niche and what makes you different than your competition. Optimize your site. Have a keyword strategy on each page and start increasing back links. Add a blog to your existing website and start adding content a minimum of two to three times each week.

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure. As CEO of Quintessence Multimedia, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine named her #1 woman for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog http://www.succeedasyourownboss.com Melinda is also bestseller author of Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works.

 

 

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How to Monetize Your Message – #SmallBizChat QA with Darnyelle A. Jervey

By on February 16, 2012 in Branding & Marketing, Melinda Emerson @SmallBizLady, Q & A Interviews, SmallBizChat, Telesummit

Every week as SmallBizLady, I conduct interviews with experts on my Twitter talk show #SmallBizChat. The show takes place every Wednesday on Twitter from 8-9pm ET. This is excerpted from my recent interview with @darnyellejervey Darnyelle A. Jervey, MBA, is a small business expert founder of IncredibleOneEnterprises.com. She is committed to showing entrepreneurs the mindset, marketing and money-making strategies to attract more ideal clients and charge what they’re worth so that they earn 6 figures unleashing their Incredible Factor.  For more information http://www.incredibleoneenterprises.com

SmallBizLady: What is your unique approach to marketing?  

Darnyelle A. Jervey: Marketing that evokes an emotional response for your “audience of one” because you are creating an experience for them that sets you apart from others who technically do what you do. In creating an experience, you find authentic and compelling ways to position your brand, product and service so that they see you as the only solution to the problem they’re experiencing.  When you are fully authentic, you can create compelling marketing that immediately resonates with your “audience of one.” And when they feel like you know them, their trust in your products and services deepen and they take action to work with you.


SmallBizLady: How do you determine your audience of one? 

Darnyelle A. Jervey: Before you can get started, you have to get clear on the problem that you can solve for others easily out of your abundance – of content, information, strategy, etc.  Remember the universal law of business. Then the first step is to thoroughly describe who they are right now. It can be done in one clear paragraph. This includes demographic as well as emotional information that helps you “get into their heads” so that you can eventually create compelling marketing for the to self select themselves into your products and services. Next, identify what their problem is right now in a full paragraph. Get clear on what they’re struggling with in graphic detail. Begin to use words they’d use to describe their problem. And lastly, build out a detailed paragraph about what theyre in most need of right now to solve the problem. This final paragraph is like your prescription for their problem.

 

SmallBizLady: What is the most important thing to do monetize your message? 

Darnyelle A. Jervey: Remember the universal law of business and build your marketing message around it. Everything that you do, say and are must align to the way you want to be represented in the market while solving a problem for your “audience of one”
SmallBizLady: Why do entrepreneurs fail to attract only ideal paying clients? 

Darnyelle A. Jervey: Because they lack the clarity of getting into the heads of their ideal clients. For this reason, I share a 15 page ideal client profile with my students and clients that is made up with a multitude of questions that you must answer about your ideal client before you’re ready to market to them. While they all complain, when they’re done they know their audience of one so well that they can speak their language and make an immediate impact.

 

SmallBizLady: What one strategy can SHIFT a business when implemented? 

Darnyelle A. Jervey: What I like to call the “dog whistle” strategy. Beginning to speak their language, in a frequency that only thy can understand and they will respond to your call to action every time…


SmallBizLady: How should small business owners create a systematic approach to marketing?

Darnyelle A. Jervey: Yeah I’ve created the client magnet marketing success formula which is devised of the 7 steps that create experiential marketing so that you consistently attract more clients, make more money and gain more leverage in your business.


SmallBizLady: What is the client marketing success formula?

Darnyelle A. Jervey: Again, it’s comprised of 7 core mindset, marketing and money-making strategy steps and ensures that at every step you’re focused on creating an experience.  Your message aligns with your marketing so that you create a movement.  The steps include aligning your message and mindset, clarifying your audience of one, creating magnetic marketing messages, creating magnetic marketing materials, creating an experience when networking, developing a client referral system, creating value-based packages and prices, closing the sale with ease and setting up marketing systems and sequence to gain leverage for your business.  These 7 steps, when used consistently are exactly what a small business owners needs to keep their pipeline full.
SmallBizLady: How do you determine your message?

Darnyelle A. Jervey: I recommend that you take time to “inspect the incredible” or complete a swot analysis on your business concept. It’s easy to want to speak in a voice that is already in the marketplace; however, it’s about finding what makes you different.  As you complete your SWOT, think differently. Ask yourself questions that look at the problem from a different angle. Don’t be afraid to burn the box.
Smallbizlady: How does your Incredible Factor play into your marketing?

Darnyelle A. Jervey: Let me start by defining the Incredible Factor for you – it’s your secret sauce, signature business move, unique selling proposition and hot undeniable gift in one client magnetic package. Think about the first time MJ moonwalked and forever changed the game.  Every entrepreneur has their own moonwalk and it, when marketed magnetically can create amazing wealth for them and their family. It’s how you solve the problem differently from the others in your industry.  It’s everything that culminates into the experiences that you create for your clients and customers.

 

SmallBizLady: What should an entrepreneur never do when creating their marketing?

Darnyelle A. Jervey: Copy from someone else. That will be seen a mile away. It’s inauthentic and as a result, you won’t achieve your results because your Incredible Factor isn’t making a statement. Take the time to find your signature move or, work with a business coach or mentor to find it.  Even though there is “nothing new under the sun” there is a unique way for you to present the information in your own style and voice.  Don’t be afraid to be you, you must own your Incredible Factor if you truly want to magnetize your marketing.

 

SmallBizLady: How will I know if my marketing is creating a movement?

Darnyelle A. Jervey: If you’re evoking emotion consistently in your marketing and your marketing is aligned to your mindset for success. When others identify with you emotionally, you create an experience and experiences move people to follow you because they believe your work is transformational.  And you’ll now be your results and your followers will tell you NAD everyone else.

 

SmallBizLady: Why do you suggest shifting your mindset as a key component to monetizing your message?

 Darnyelle A. Jervey: 95% of your success in life is based on mindset. Your business growth will always be stifled by your limiting beliefs. If your limiting beliefs are bigger than your desire to change the lives of those you’ve been called to serve with your Incredible Factor, you won’t grow your business. By taking the time to learn strategies to shift your mindset, you can experience exponential business growth. Which will allow you to create experiences for many more people.

 

If you found this interview helpful, join us on Wednesdays 8-9pm ET follow @SmallBizChat on Twitter. Here’s how to participate in #SmallBizChat: http://bit.ly/S797e

For more tips on how start or grow your small business subscribe to Melinda Emerson’s blog http://www.succeedasyourownboss.com.

Melinda F. Emerson, known to many as SmallBizLady is one of America’s leading small business experts. As a seasoned entrepreneur, professional speaker, and small business coach, she develops audio, video and written content to fulfill her mission to end small business failure.  As CEO of MFE Consulting LLC, Melinda educates entrepreneurs and Fortune 500 companies on subjects including small business start-up, business development and social media marketing. Forbes Magazine recently named her one of the Top 20 women for entrepreneurs to follow on Twitter. She hosts #SmallBizChat Wednesdays on Twitter 8-9pm ET for emerging entrepreneurs. She also publishes a resource blog www.succeedasyourownboss.com Melinda is also the author of the national bestseller Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works. (Adams Media 2010)

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