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> <channel><title>BizBest &#187; Featured</title> <atom:link href="http://www.bizbest.com/category/featured/feed/" rel="self" type="application/rss+xml" /><link>http://www.bizbest.com</link> <description>Business Made Better</description> <lastBuildDate>Thu, 03 May 2012 23:56:07 +0000</lastBuildDate> <language>en</language> <sy:updatePeriod>hourly</sy:updatePeriod> <sy:updateFrequency>1</sy:updateFrequency> <generator>http://wordpress.org/?v=3.0.4</generator> <item><title>7 Keys to Becoming a Business Superstar</title><link>http://www.bizbest.com/7-keys-to-becoming-a-business-superstar/</link> <comments>http://www.bizbest.com/7-keys-to-becoming-a-business-superstar/#comments</comments> <pubDate>Thu, 03 May 2012 23:56:07 +0000</pubDate> <dc:creator>Daniel Kehrer</dc:creator> <category><![CDATA[Featured]]></category> <category><![CDATA[SalesSavvy]]></category> <category><![CDATA[StartupSmarts]]></category> <guid
isPermaLink="false">http://www.bizbest.com/?p=1192</guid> <description><![CDATA[Some businesses – and business owners – just seem irresistible.  They’re the ones earning the highest fees who rarely seem to go searching for clients and customers because clients come to them. How does this happen? It’s not an isolated phenomenon. These kinds of “bankable” businesses exist in almost every industry, says Andrew Sobel, co-author [...]]]></description> <content:encoded><![CDATA[<p><a
href="http://www.bizbest.com/wp-content/uploads/2012/05/super-hero.jpg"><img
class="alignright size-medium wp-image-1193" style="margin: 10px;" title="super hero" src="http://www.bizbest.com/wp-content/uploads/2012/05/super-hero-300x225.jpg" alt="" width="240" height="180" /></a>Some businesses – and business owners – just seem irresistible.  They’re the ones earning the highest fees who rarely seem to go searching for clients and customers because clients come to <em>them</em>. How does this happen?</p><p>It’s not an isolated phenomenon. These kinds of “bankable” businesses exist in almost every industry, says Andrew Sobel, co-author along with Jerold Panas of “Power Questions: Build Relationships, Win New Business and Influence Others” (Wiley, 2012).  But business superstars aren’t born, they’re usually self-made. Here are seven keys that can unlock the hidden superstar in any entrepreneur:</p><ol><li><strong>Deliver something great, over and over.</strong> Not easy, sure. But you can’t expect superstardom to occur overnight. You have to build your reputation for delivering results consistently year after year. Entrepreneurs who keep on delivering gain trust and become more “bankable.”</li><li><strong>Have a high-powered value proposition.</strong> It’s vital that you clearly articulate why customers should come to you above everyone else. What unique value do you and your business offer?  Your public value proposition doesn’t have to define everything you do with clients or customers, but it should make clear what you’re best known for. Businesses that don’t have a unique value proposition are just a commodity.</li><li><strong>Be the one asking the questions.</strong> Here’s a good test of where you stand: When you talk to potential clients, are they the ones asking all the questions; grilling you on your credentials?  Or do you also tactfully test them for suitability as one of your clients?  Good news here is that you don’t have to wait until you’re famous to put yourself in this position.  You can do it at any point in the life of your business. When you’re the one asking the thought-provoking, idea-inducing questions in the conversation, people take notice. You quickly move up a notch and take control of the discussion. You no longer are merely a “vendor,” but become a thoughtful advisor who is focused on helping customers achieve their most important goals.</li><li><strong>Be an industry thought leader.</strong> These days, you don’t have to write a bestselling book to be seen as a thought leader. It starts by having deep focus and an abiding curiosity to learn everything there is to know about your industry. Then start passing along that knowledge, by blogging, speaking, consulting, writing articles for industry publications and participating in social media. It’s not a one-and-done proposition. You need to be out their daily.</li><li><strong>Create a powerful name or brand. </strong>In short, you need to become well known. That doesn’t mean worldwide. It might just be in your community or other limited sphere of influence – in your particular niche, marketplace or geographic area. When you are a known name in your specialty, customers think of you when they need something. Name recognition works like a magnet. It’s never too late to start. No matter how known or unknown you are now, plan one activity monthly that will increase your name recognition in some way.</li><li><strong>Evaluate your scale and select clients carefully. </strong>Superstars are scarce and should command the higher fees or prices. Think about how your business model scales.  Can you afford to work for or sell to <em>everyone</em>? Sometimes trying to sell at larger scale only ends up diluting your personal or business brand and your ability to deliver quality goods or services. Business superstars know they can’t – and shouldn’t – spread themselves too thin.</li><li><strong>Price like a superstar.</strong> While you have to achieve at least a semblance of star status before you can charge premium rates, there’s actually more to it. “Research has demonstrated that high prices lead to high perceived value,” says Sobel. “Most people think it’s the other way around – that if you deliver high value, only then can you get high fees.”  Look at it this way. As you become more and more bankable, you enter a virtuous circle of ever-higher perceived value – and fees. Customers know that hiring you lowers their risk, and that’s worth paying for.</li></ol><p> <em>© 2000-2012 BizBest</em>®<em> Media Corp.  All Rights Reserved.</em></p> ]]></content:encoded> <wfw:commentRss>http://www.bizbest.com/7-keys-to-becoming-a-business-superstar/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item><title>6 Surprising Truths About Business Growth</title><link>http://www.bizbest.com/6-surprising-truths-about-business-growth/</link> <comments>http://www.bizbest.com/6-surprising-truths-about-business-growth/#comments</comments> <pubDate>Thu, 03 May 2012 23:48:46 +0000</pubDate> <dc:creator>Daniel Kehrer</dc:creator> <category><![CDATA[Featured]]></category> <category><![CDATA[ManagingSmart]]></category> <guid
isPermaLink="false">http://www.bizbest.com/?p=1188</guid> <description><![CDATA[All growth is good. Bigger is better. All businesses must either grow or die. Most business owners accept those business axioms. Unfortunately, they’re wrong. “At best those beliefs are half-truths and at worst they’re pure fiction,” says Ed Hess, a business professor at the University of Virginia and author of the new book Grow to [...]]]></description> <content:encoded><![CDATA[<p><a
href="http://www.bizbest.com/wp-content/uploads/2012/05/growth.cropped.jpg"><img
class="alignright size-medium wp-image-1189" style="margin: 10px;" title="growth.cropped" src="http://www.bizbest.com/wp-content/uploads/2012/05/growth.cropped-300x155.jpg" alt="" width="240" height="124" /></a>All growth is good. Bigger is better. All businesses must either grow or die.</p><p>Most business owners accept those business axioms. Unfortunately, they’re wrong. “At best those beliefs are half-truths and at worst they’re pure fiction,” says Ed Hess, a business professor at the University of Virginia and author of the new book <em>Grow to Greatness: Smart Growth for Entrepreneurial Businesses</em> (Stanford University Press, 2012). “Growth can be good and growth can be bad.”</p><p>Basically, Hess argues that everything you know about growth is probably wrong. Yikes! So how can you tell the difference between “good growth” and “bad growth”?</p><p>Here are six surprising truths about what growth is really about:</p><p><strong>Truth #1: Growth is change (and change isn’t easy). </strong>There are limits to how quickly any person or business can deal with change. Growth forces you to install more procedures, controls and measurements which must then be taught to employees. Growth also forces you to change what you do. <em>Sustainable</em> growth requires the right leadership, the right environment (culture) and the right processes.</p><p><strong>Truth #2: Growth is evolutionary. </strong>Your business model and value proposition must pivot to keep up with change.  Anticipating and responding to constant changes can require making some difficult decisions along the way. For example, businesses that grow rapidly must often change management.</p><p>Are you prepared for something like that?  Managers who operate effectively when the business is just starting out might not be able to adjust when things get more complex. The job simply outgrows their skills. This is yet another important factor that you must be prepared to deal with as you think about growing your business.</p><p><strong>Truth #3: Growth requires continuous learning and improvement. </strong>You and your employees must be constantly open to learning, adapting, experimenting and improving. No matter how big you get or want to get, continuous improvement is required.  “In my research of high growth companies, I found that one factor they all share is a ‘be better’ DNA,” says Hess.</p><p>Improving your product or service, how you deliver it to your customers, and every customer touch point is necessary to stay in business and to grow your business. The good news is that continuous improvements lead to more loyal customers who can be your best advertising.</p><p><strong>Truth #4: Growth requires focus and setting priorities. </strong>Owners of growing businesses must learn to focus on what is most compelling that makes the business different from the competition. But every small business has limited resources and time, so to grow successfully you must identify and spend your time on only the key areas that can drive success.</p><p>And keep in mind that in order to set priorities wisely, you need  concrete and useful data about your business, and you must clearly communicate your priorities to others.</p><p><strong>Truth #5: Growth may require a new recipe. </strong>Growth requires implementing processes, which are like recipes for baking a cake. They are the step-by-step instructions for how to do something and are necessary to minimize mistakes, install quality standards and deliver products and services on time.</p><p>“Processes are the ‘how’ part of doing business,” says Hess. “As businesses grow, entrepreneurs lose the ability to be hands-on with everything. There’s simply too much to do. So, the challenge is to increase the probability that others will do what you want done. To accomplish this you need processes.”</p><p><strong>Truth #6: Growth creates new risks.</strong> Growth stresses people, processes, quality and finances. It can dilute your culture and the value you deliver to customers. Understanding these risks is critical to managing the pace of growth and preventing it from overwhelming you.</p><p>“To get a better handle on growth risks, consider how your position in the marketplace will change as you get bigger,” says Hess. You will probably enter a new competitive space, facing bigger and better competitors than before. Those new competitors may be better capitalized than you and able to engage in price competition, driving down your margins.</p><p>The good news is that you can minimize risks by planning for growth, pacing growth, and establishing controls and processes ahead of time. By simply thinking about what might go wrong, you’ll be ahead of the growth game. </p><p><em>Copyright © 2000-2012 BizBest</em>®<em> Media Corp.  All Rights Reserved.</em></p> ]]></content:encoded> <wfw:commentRss>http://www.bizbest.com/6-surprising-truths-about-business-growth/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item><title>6 Strategy Secrets for Small Business</title><link>http://www.bizbest.com/6-strategy-secrets-for-small-business/</link> <comments>http://www.bizbest.com/6-strategy-secrets-for-small-business/#comments</comments> <pubDate>Fri, 13 Apr 2012 22:41:14 +0000</pubDate> <dc:creator>Daniel Kehrer</dc:creator> <category><![CDATA[Featured]]></category> <category><![CDATA[ManagingSmart]]></category> <guid
isPermaLink="false">http://www.bizbest.com/?p=1183</guid> <description><![CDATA[Strategy is strange. It’s one of the most talked-about concepts in business – yet one of the least understood.  Corporate titans tout “strategies” of infinite variety every day; never mind that most are not strategies at all. At best, many are simply sets of goals. At worst, they are recipes for disaster or perpetuated mediocrity. [...]]]></description> <content:encoded><![CDATA[<p><a
href="http://www.bizbest.com/"><img
class="alignright size-medium wp-image-1184" style="margin: 10px;" title="Strategy chalkboard" src="http://www.bizbest.com/wp-content/uploads/2012/04/Strategy-chalkboard-300x183.jpg" alt="" width="270" height="165" /></a>Strategy is strange. It’s one of the most talked-about concepts in business – yet one of the <em>least</em> understood.  Corporate titans tout “strategies” of infinite variety every day; never mind that most are not strategies at all. At best, many are simply sets of goals. At worst, they are recipes for disaster or perpetuated mediocrity.</p><p>The good news is this: Strategy is an area where small firms and startup entrepreneurs have  an opportunity to out-think their big business cousins. And it starts by simply grasping what strategy really is – and is not.</p><p>While there’s no official “strategy playbook” or universally-accepted definition, my favorite description of strategy comes from Richard Rumelt, a professor at UCLA Anderson School of Management who is considered one of the world’s top authorities on business strategy. “Unlike a stand-alone decision or a goal,” says Rumelt, “a strategy is a coherent set of analyses, concepts, policies, arguments and actions that respond to a high-stakes challenge.”</p><p>High stakes indeed.  It’s your business on the line, after all. But if you were to pick just one word to get at the essence of strategy, it would be “action.” Define all the vision, values, goals, customer pain points and revenue opportunities you want.  Those are the “what” of the situation. A strategy is your “how,” and that requires action.  <em>Successful</em> entrepreneurs understand this because they’ve not only seen a need, they’ve articulated a specific, rationale series of activities to satisfy that need and achieve their goals.</p><p>Still, the true nature of strategy remains murky in today’s business world. To help clarify, here are six secrets to avoiding common pitfalls and creating a successful strategy for your small business:</p><p><strong>Secret #1: Goals are not strategy.</strong> This might sound simple, but some of the best and brightest in business fail to recognize this every day. You might, for example, have specific revenue goals for your business, or a desire to be “biggest” or “best” at whatever you do in your area. But how will you make that happen?  You need to know the “pivot points” on which to focus your efforts.</p><p><strong>Secret #2: Ya gotta do something different</strong>. If your “strategy” is exactly the same as everyone else’s, how do you expect to succeed? The actions that you choose to focus on as part of your strategy must – somehow – involve doing things differently than your competitors. That might involve doing different things; or the same things differently. To beat the competition, you need a <em>sustainable</em> difference.</p><p><strong>Secret #3: Strategy also means choosing what <em>not</em> to do</strong>.  Strategy is about making choices. In short, you can’t do it all, so you need to pick what’s important. Some business owners find it easier to start the strategy-development process by first deciding what types of activities their business will <em>avoid</em>, either because those activities just don’t fit with the vision and goals, or because others already use them.</p><p><strong>Secret #4: Good strategies are rarely obvious.</strong> Don’t expect strategy to come easily.  If it’s obvious, others have probably done it already. You may need to summon all of your creativity, insight and innovation in order to find the best strategic fit for your business.  Your differences need not be radical. Even subtle, yet distinctive differences can magnify your actions and lead to success.</p><p><strong>Secret #5:  Your strategy is an ecosystem.</strong> A strategy isn’t one thing or one activity. It’s many activities – some day-to-day, some less frequent – customized to fit into and implement your strategy. And just as in nature’s ecosystems, each part plays an important role in preserving the system (your strategy) as a whole.</p><p><strong>Secret #6: Strategy can be lost – and regained</strong>.  Businesses both large and small lose track of their strategies all the time. It happens slowly, as successful companies lose focus and drift into incremental approaches that were never part of the core. That’s when your business needs to regroup and reexamine its strategy to see if it’s still the right one. You may simply want to renew the original, or find a new one. Either way, it’s all about action.</p><p><strong>Bonus Secret:</strong> “<a
href="http://www.amazon.com/Good-Strategy-Bad-Difference-Matters/dp/0307886239/ref=sr_1_1?ie=UTF8&amp;qid=1334356593&amp;sr=8-1">Good Strategy/Bad Strategy</a>” (Crown Business, 2011) by Richard Rumelt is a terrific read on this topic.</p><p><em>Copyright © 2000-2012 BizBest</em>®<em> Media Corp.  All Rights Reserved.</em></p> ]]></content:encoded> <wfw:commentRss>http://www.bizbest.com/6-strategy-secrets-for-small-business/feed/</wfw:commentRss> <slash:comments>1</slash:comments> </item> <item><title>10 Ways to Tap Twitter for Leads</title><link>http://www.bizbest.com/10-ways-to-tap-twitter-for-leads/</link> <comments>http://www.bizbest.com/10-ways-to-tap-twitter-for-leads/#comments</comments> <pubDate>Thu, 12 Apr 2012 15:31:09 +0000</pubDate> <dc:creator>Daniel Kehrer</dc:creator> <category><![CDATA[140Main™]]></category> <category><![CDATA[Featured]]></category> <category><![CDATA[Marketing]]></category> <guid
isPermaLink="false">http://www.bizbest.com/?p=1178</guid> <description><![CDATA[Slowly but surely, many business owners are realizing that Twitter is a terrific (and free) tool for a variety of business purposes, including marketing, customer service, branding and PR and generating leads. Those who use it effectively are generating traffic for their websites, building networks and getting closer to their customers. Using Twitter specifically to [...]]]></description> <content:encoded><![CDATA[<p><a
href="http://www.bizbest.com/"><img
class="alignright size-full wp-image-1179" style="margin: 10px;" title="leads" src="http://www.bizbest.com/wp-content/uploads/2012/04/leads.jpg" alt="" width="240" height="180" /></a>Slowly but surely, many business owners are realizing that Twitter is a terrific (and free) tool for a variety of business purposes, including marketing, customer service, branding and PR and generating leads. Those who use it effectively are generating traffic for their websites, building networks and getting closer to their customers.</p><p>Using Twitter specifically to generate leads is something that works differently for different types of businesses.  You should try out different approaches and see what works best for you. Then go with that.</p><p>Here are 10 things you can do on Twitter to attract prospects to your business:</p><p>1)   <strong>Tweet about special offers you have available at your business</strong>. But follow this tactic judiciously. Tweeting too often about business offers can get you labeled as a spammer.  One nice way around this is to weave offers into a blog post or article on your website.  Then simply Tweet a link to your article, with some “teaser” text to spark interest.</p><p>2)    <strong>Create your own business-branded page on Twitter.</strong> This makes it easier to generate leads.  An enhanced business profile page increases your Twitter presence by prominently featuring your most important content and visually branding your page. Your enhanced profile page is completely public — users can view it without joining or logging into Twitter. Twitter is still in the process of rolling out this feature to all businesses. See details at business.twitter.com.</p><p>3)    <strong>Use “featured tweets.”</strong> This is available from your business brand page and lets you display select tweets at the top of your page for an extended time. Normally tweets move down the page as you add more, but these stay put and are a great way to feature special promotions or offers.</p><p>4)    <strong>Target key products, services and industry terms via Twitter Search.</strong> It’s a simple yet powerful tool you can use from inside Twitter to help you identify the people and companies that care about the things that your business does. This will open up a rich vein of potential people to follow who may follow you back.</p><p>5)    <strong>Look professional and attract more attention by installing your own custom Twitter page background.</strong> This can include colors, images, logos and other graphics related to your business. The better your page looks, the more customers you’ll attract.</p><p>6)    <strong>Make sure your Twitter profile shows up in search.</strong> Your Twitter profile can contain a maximum 160 characters so make the most of it by including the top keywords associated with your business or profession. You can’t use all of your keywords, so be sure and pick the best. Be brief and grab attention.</p><p>7)    <strong>Answer questions</strong>.  Two out of three Twitter users say they are more likely to buy something from a local business that answers their questions on Twitter. So while that begs the question of how many of your customers and prospects are actually on Twitter, it’s a safe bet that whatever that number is, it will only get bigger.</p><p>8)    <strong>Leverage the power of #Hashtags to locate your leads.</strong> On Twitter, hashtags are used to organize tweets around specific topics.  They’re the words with the pound sign (#) in front of them. By pargeting your tweets to specific hashtags – or topic streams – you will reach people specifically interested in that topic.</p><p>9)    <strong>Chime into Twitter “Chat.”</strong> On Twitter, “chats” are similar to hashtags except more granular.  There’s a publicly available document posted on Google Docs call “Twitter Chat Schedule” that lists over 600 chats on specific topics. Just search “Twitter chat Schedule” on Google to find it.</p><p>10)  <strong>Create a customized Twitter visitor welcome page for your business website.</strong> Once you have this, you can include the link in your Twitter profile and in your tweets. Anyone who clicks on it will arrive at your special welcome page for people who’ve found you via Twitter. This customizes your message and makes them feel especially welcome. It also opens up the possibility of special offers to Twitter users.</p><p><em>Copyright © 2000-2012 BizBest</em>®<em> Media Corp.  All Rights Reserved.</em></p> ]]></content:encoded> <wfw:commentRss>http://www.bizbest.com/10-ways-to-tap-twitter-for-leads/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item><title>3 Deadly QR Code Miscues and How to Fix Them</title><link>http://www.bizbest.com/3-deadly-qr-code-miscues-and-how-to-fix-them/</link> <comments>http://www.bizbest.com/3-deadly-qr-code-miscues-and-how-to-fix-them/#comments</comments> <pubDate>Fri, 23 Mar 2012 23:15:59 +0000</pubDate> <dc:creator>Daniel Kehrer</dc:creator> <category><![CDATA[140Main™]]></category> <category><![CDATA[BizTech]]></category> <category><![CDATA[Featured]]></category> <category><![CDATA[Marketing]]></category> <guid
isPermaLink="false">http://www.bizbest.com/?p=1172</guid> <description><![CDATA[Quick Response (QR) codes are turning up more frequently in small business advertising and marketing materials, including posters, business cards, packaging, drink coasters and you name it. But unless local businesses use them properly, QR codes are wasting your time.  But few businesses are using QR codes in a way that lets them track their [...]]]></description> <content:encoded><![CDATA[<p><a
href="http://www.bizbest.com/"><img
class="alignright size-medium wp-image-1173" style="margin: 10px;" title="QR code mistakes" src="http://www.bizbest.com/wp-content/uploads/2012/03/QR-code-mistakes-300x187.jpg" alt="" width="240" height="150" /></a>Quick Response (QR) codes are turning up more frequently in small business advertising and marketing materials, including posters, business cards, packaging, drink coasters and you name it. But unless local businesses use them properly, QR codes are wasting your time.  But few businesses are using QR codes in a way that lets them track their marketing campaigns effectively, says Scott Wilson, founder and CEO of RankHigher.ca, a Canadian internet marketing and SEO firm.</p><p>“QR codes used the right way can be a fantastic marketing tool,” says Wilson. “Wouldn’t it be great to track your web traffic directly back to that beer coaster in the restaurant or the coupon you mass mailed to thousands of homes? That’s vital information for any marketer. The problem is that most companies are missing these opportunities because of basic mistakes.”</p><p>Here are the three most common QR code miscues and what to do about them:</p><p><strong>Miscue #1:</strong> Using cookie-cutter QR code patterns churned out by online generators, which are mistakenly read as direct traffic to a website by Google Analytics.  <strong>Solution</strong>: Have the QR code send traffic to a URL location where Google’s tracking software can monitor your marketing work and redirect to the desired location.</p><p><strong>Miscue #2:</strong>  Using long URLs in QR Codes makes complicated codes that are difficult or impossible for consumers to scan. <strong>Solution</strong>: Keep the URL short so your QR code will be simpler and easier for scanners to read, not to mention easier to fit on a business card.</p><p><strong>Miscue #3:</strong> Using third-party services, such as bit.ly, to shorten URLs attached to QR codes, leaving them vulnerable to potential technological problems or service changes.  <strong>Solution</strong>: Host your QR code URL on your own domain so you have full control to quickly fix errors. If a third party URL shortener goes down, so does your entire QR code marketing campaign.</p><p><em>Copyright © 2000-2012 BizBest</em>®<em> Media Corp.  All Rights Reserved.</em></p> ]]></content:encoded> <wfw:commentRss>http://www.bizbest.com/3-deadly-qr-code-miscues-and-how-to-fix-them/feed/</wfw:commentRss> <slash:comments>1</slash:comments> </item> <item><title>6 Things that Growing Small Businesses Do Right</title><link>http://www.bizbest.com/6-things-that-growing-small-businesses-do-right/</link> <comments>http://www.bizbest.com/6-things-that-growing-small-businesses-do-right/#comments</comments> <pubDate>Fri, 23 Mar 2012 21:59:18 +0000</pubDate> <dc:creator>Daniel Kehrer</dc:creator> <category><![CDATA[BizFinance]]></category> <category><![CDATA[Featured]]></category> <category><![CDATA[Leadership]]></category> <category><![CDATA[ManagingSmart]]></category> <guid
isPermaLink="false">http://www.bizbest.com/?p=1165</guid> <description><![CDATA[What sets growing businesses apart from their small biz brothers and sisters whose revenues are flat or falling? The Guardian Life Small Business Research Institute wanted to find out so it commissioned a study to compare what owners of small firms with rising 2011 revenues did differently than their counterparts at businesses with flat or [...]]]></description> <content:encoded><![CDATA[<p><a
href="http://www.bizbest.com/wp-content/uploads/2012/03/revenue-growth-chart.jpg"><img
class="alignright size-medium wp-image-1168" style="margin: 10px;" title="revenue growth chart" src="http://www.bizbest.com/wp-content/uploads/2012/03/revenue-growth-chart-300x225.jpg" alt="" width="240" height="180" /></a>What sets growing businesses apart from their small biz brothers and sisters whose revenues are flat or falling? The Guardian Life Small Business Research Institute wanted to find out so it commissioned a study to compare what owners of small firms with rising 2011 revenues did differently than their counterparts at businesses with flat or declining sales. Much of this is simple common sense, but you may find a few things surprising. Here are the six revenue-boosting practices that stood out:</p><p>1)      <strong>Planning Ahead:</strong>  Small business owners who managed to grow in the face of economic weakness were adept at planning for what might go wrong, rather than simply reacting to trouble. When times were good, these well-prepared biz owners squirreled away cash reserves and opened credit lines that helped them weather tough times without having to make cutbacks.  In contrast, owners with declining revenues found themselves madly rushing to slash expenses as difficulties mounted.</p><p>2)      <strong>Borrowing Strategically:</strong>  Growing businesses understand that borrowing can be a good thing (especially since interest is tax deductible) if the money is put to good business use.  And the use that has paid off best for growth firms is R&amp;D. About 58% of high-growth small business owners report that R&amp;D type investments yielded the most positive returns. On the other hand, borrowing to open new offices, build production facilities or add new capabilities was more likely to correlate with a DROP than an increase in sales. Likewise, borrowing to add staff was generally a money-losing endeavor.</p><p>3)      <strong>Sharpening Management Skills</strong>: Professional development also leads to more income. Business owners who improved their skills at strategic planning and money management, for example, had a better chance of achieving revenue growth than those who didn’t.  But the most compelling results came from those who got better at hiring the right people. Team building skills, it turns out, are great for boosting a bottom line.</p><p>4)      <strong>Getting Good Advice:</strong>  Small biz owners have always relied on advice from friends and fellow business owners. That never changes.  But the best of them also make sure they plug into a savvy accountant or other financial advisors to provide the kind of professional fiscal advice that every business needs, no matter what size.  For example, 68% of businesses with rising revenues sought out financial advisors, while only 51% of those with declining revenues took that step.  </p><p>5)      <strong>Balancing Business and Life:</strong> Revenue-boosting business owners tend not to be all-consumed by their businesses.  They’ve learned to balance involvement with family, friends and their communities.  In short, they run their businesses – not the other way around.  Conversely, business owners whose revenues decline tended to be more fiercely independent and obsessed with their companies at the expense of other parts of their lives.</p><p>6)      <strong>Sharing Vision:</strong>  The Guardian study also found a strong correlation between success (in terms of revenue growth) and business owners who were strong leaders and adept at sharing their vision with employees, colleagues and others.  In addition, it was critical for business owners to demonstrate commitment to the business and inspire teams to perform at their highest level.</p><p>If you’re not among the ranks of revenue risers, take these six differentiators to heart as you plan your year ahead. By following in the footsteps of success, you’ll have a better chance of increasing revenues no matter what’s happening in the economy around you.</p><p><em>Copyright © 2000-2012 BizBest</em>®<em> Media Corp.  All Rights Reserved.</em></p> ]]></content:encoded> <wfw:commentRss>http://www.bizbest.com/6-things-that-growing-small-businesses-do-right/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item><title>10 Small Business Tips and Tactics for Pinterest</title><link>http://www.bizbest.com/10-small-business-tips-and-tactics-for-pinterest/</link> <comments>http://www.bizbest.com/10-small-business-tips-and-tactics-for-pinterest/#comments</comments> <pubDate>Thu, 15 Mar 2012 17:52:13 +0000</pubDate> <dc:creator>Daniel Kehrer</dc:creator> <category><![CDATA[140Main™]]></category> <category><![CDATA[Featured]]></category> <category><![CDATA[Pinterest]]></category> <category><![CDATA[pinterest for business]]></category> <category><![CDATA[pinterest for small business]]></category> <guid
isPermaLink="false">http://www.bizbest.com/?p=1155</guid> <description><![CDATA[Pinterest – the hot new social media network – is starting to catch the eye of many small business owners. And the reason is simple: It’s a great new way to drive traffic to your website and create leads for your business. In fact, the early read on Pinterest is that it’s more effective in [...]]]></description> <content:encoded><![CDATA[<p><a
href="http://pinterest.com/" target="_blank"><img
class="alignright size-medium wp-image-1156" style="margin: 10px;" title="pinterest.screen shot" src="http://www.bizbest.com/wp-content/uploads/2012/03/pinterest.screen-shot-300x183.jpg" alt="" width="240" height="146" />Pinterest </a>– the hot new social media network – is starting to catch the eye of many small business owners. And the reason is simple: It’s a great new way to drive traffic to your website and create leads for your business.</p><p>In fact, the early read on Pinterest is that it’s more effective in some cases than Facebook. And growth on this social sharing site, which is free to use, has been phenomenal. Pinterest has skyrocketed to become the fifth biggest social site, ahead of Google+ and LinkedIn.</p><p>Pinterest is a highly visual site, based in large part on sharing images, along with other content.  The platform lets users visually share things they’ve found online by “pinning” an image, article, video or other item to their own “pinboard.”  Users often create collections of “pins” around a theme of some kind. They can either pin things they’ve found on the web, or upload their own images. You’ll also see the Pinterest button showing up on websites as a way for visitors to quickly “pin” an item, which might also be a simple URL.</p><p>Some small businesses that rely heavily on website traffic to increase sales are reporting a surge of traffic now coming from Pinterest. Susan Lyne, CEO of the popular shopping site called Gilt.com, which offers designer goods at a discount, says her site has gotten a big boost from Pinterest. In part that’s because Gilt has lots of high quality images of the items it sells, which is the kind of thing people like to pin on Pinterest.</p><p>Here are ten tips and tactics for small business success on Pinterest:</p><ol><li>Although it’s already become the fastest growing social network of all time, <a
href="http://pinterest.com/" target="_blank">Pinterest </a>is still technically in “beta” so when you go to sign up you must request an invitation to join. But don’t worry, it’s all but automatic that you’re in.</li><li>Pinterest doesn’t yet provide a connection to Facebook business pages, so if your business is on Twitter, be sure to use the same email address you use for your business Twitter account to sign up for Pinterest. You’ll be able to sign in with your same Twitter login.</li><li>Write a detailed “About” description of your business, using appropriate key words and geographic locations so you’ll show up in search.  Also make sure the button marked “Hide your Pinterest profile from search engines” is OFF.</li><li>Link your Pinterest account to other social media – especially your Facebook page and Twitter account – and link it to your business website. But keep in mind that Pinterest was designed for individuals, not businesses, so there’s really no such thing yet as a Pinterest “business page.” Just think in terms of using the site as a person, rather than a business.</li><li>Your main activity on Pinterest will be to set up various “pinboards.”  You’ll gain traction for your business by organizing and naming them according to the types of products and services you sell. You should create these first, before you start trying to build your Pinterest following. As with Facebook “Likes” and Twitter followers, you’ll want to build a loyal follower base on Pinterest by catering to topics that people are passionate about.</li><li>Once you are on Pinterest, add the Pinterest follow button to your business website, blog, social media pages and even your printed materials. This is a good way to jumpstart your Pinterest presence.</li><li>Focus first on visual content. Remember, Pinterest is a heavily visual medium, so you’ll want to use your best stuff here. If you have great product shots, that’s one option. Some businesses are pinning photos of their employees and location.</li><li>So far, Pinterest users have been more heavily female (about 65%), so keep that in mind as well.  If your customer base is mainly men, Pinterest might not be right for you just yet.</li><li>If you have a blog and are using strong photos there, make a habit of putting them on your pinboard as well. You can also pin charts, graphs and other graphics.</li><li>10. Follow the same social media “rules” you’d follow elsewhere. For example, concentrate on making yourself a valuable resource to others rather than trying to overtly sell.</li></ol><p><em>Copyright © 2000-2012 BizBest</em>®<em> Media Corp.  All Rights Reserved.</em></p> ]]></content:encoded> <wfw:commentRss>http://www.bizbest.com/10-small-business-tips-and-tactics-for-pinterest/feed/</wfw:commentRss> <slash:comments>1</slash:comments> </item> <item><title>Twitter CEO on What Makes a Great Tweet</title><link>http://www.bizbest.com/twitter-ceo-on-what-makes-a-great-tweet/</link> <comments>http://www.bizbest.com/twitter-ceo-on-what-makes-a-great-tweet/#comments</comments> <pubDate>Fri, 03 Feb 2012 16:56:48 +0000</pubDate> <dc:creator>Daniel Kehrer</dc:creator> <category><![CDATA[140Main™]]></category> <category><![CDATA[Featured]]></category> <category><![CDATA[Marketing]]></category> <category><![CDATA[Twitter]]></category> <category><![CDATA[twitter for business]]></category> <category><![CDATA[Twitter marketing]]></category> <guid
isPermaLink="false">http://www.bizbest.com/?p=1095</guid> <description><![CDATA[Before I get to Twitter CEO Dick Costolo (@dickc), let me tell you about Willy O’Sullivan who owns the Irish pub in my neighborhood. Willy is quite worldly on social media matters and a savvy business person overall, but Twitter confounds him. “I have Twitter, but I have no idea what to do with it,” [...]]]></description> <content:encoded><![CDATA[<p><a
href="http://www.bizbest.com/wp-content/uploads/2012/02/Dick.Costolo.Twitter.jpg"><img
class="alignright size-medium wp-image-1129" style="margin: 10px;" title="Dick.Costolo.Twitter" src="http://www.bizbest.com/wp-content/uploads/2012/02/Dick.Costolo.Twitter-300x164.jpg" alt="" width="240" height="131" /></a>Before I get to Twitter CEO Dick Costolo (<a
href="https://twitter.com/#!/dickc">@dickc</a>), let me tell you about Willy O’Sullivan who owns the Irish pub in my neighborhood. Willy is quite worldly on social media matters and a savvy business person overall, but Twitter confounds him. “I have Twitter, but I have no idea what to do with it,” he says.  “You open it up and it asks me who I want to follow, and I have no idea about that either.”</p><p>And Willy, in fact, is a proxy for millions of local business owners who grasp the importance of social media but simply don’t have time to experiment with using it for business purposes.  As new products and platforms are devised to help business owners use social media effectively, the balance will shift, given social media’s power for cost-effective marketing.  While Twitter remains a mystery to many business owners, its popularity is skyrocketing based in part on how simple it is compared to Facebook or Google+.</p><p>Costolo is the man leading Twitter’s charge.  He became CEO in 2010 and previously launched and ran several smaller businesses, so he knows what it’s like to take risks, meet payroll and wear multiple hats.  I just met Costolo at a UCLA/Anderson School of Management leadership seminar, courtesy of Dean Judy Olian (<a
href="https://twitter.com/#!/DeanOlian">@DeanOlian</a>) and entertainment mogul (not to mention owner of NBA’s GS Warriors) Peter Guber (<a
href="https://twitter.com/#!/PeterGuber">@PeterGuber</a>).   Costolo is super articulate and has great passion for what he does as well as the confidence to lead Twitter to the Promised Land called IPO.  </p><h2>What Makes a Tweet Great</h2><p>Since the price of a seat at the table in Olian and Guber’s seminar is a confidentiality pledge, there’s much that can’t be said here of Costolo’s behind-the-scenes revelations, but a couple of things are up for grabs.  In particular, Costolo’s take on “What makes a great tweet” is something everyone business person should know, as it describes effective communication in general.  Costolo didn’t even need 140 characters to say it:  Here it is in a mere 47 characters:  <em><strong>“A great tweet is a caption for something bigger”</strong></em></p><p>Hmmmmm.  “Something bigger.”  That’s where millions of tweets fail every day to pass the greatness test.  If you only have 140 characters to say something, too many tweeters fall into the trap of saying essentially nothing.  You need a “backstory” as they say in the entertainment biz – something that entices people into thinking or looking further. As we’ve said often here at 140Main (our name, of course, derived from Twitter’s 140 character length limit on tweets), the art of tweeting well is to entice and engage followers with <em>useful</em> information.</p><p>By thinking of your tweets as “captions” you can stay focused on the bigger “picture” behind what you are saying.  Is there something else you can offer as a link? An idea, tip or thought that can help others see that bigger picture?  If so, your tweets will rise above the noise and gain more attention.</p><p>Embrace the 140 length limit. To Dick Costolo, Twitter’s inner beauty lies in that simple constraint and it’s unlikely that will change. In fact, the latest studies show that slightly <em>shorter</em> tweets in the 120-130 range generate the best response.</p><p>Follow us <a
href="https://twitter.com/#!/140main">@140Main</a></p><p><em>Copyright © 2000-2012 BizBest</em>®<em> Media Corp.  All Rights Reserved.</em></p> ]]></content:encoded> <wfw:commentRss>http://www.bizbest.com/twitter-ceo-on-what-makes-a-great-tweet/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item><title>10 Social Posting Tips and Traps</title><link>http://www.bizbest.com/10-social-posting-tips-and-traps/</link> <comments>http://www.bizbest.com/10-social-posting-tips-and-traps/#comments</comments> <pubDate>Tue, 31 Jan 2012 20:23:52 +0000</pubDate> <dc:creator>Daniel Kehrer</dc:creator> <category><![CDATA[140Main™]]></category> <category><![CDATA[Featured]]></category> <guid
isPermaLink="false">http://www.bizbest.com/?p=1084</guid> <description><![CDATA[One question business owners often ask about social media is what to post on Facebook, Google+ or other social pages and platforms.  The list of options is long, but here are five easy things to consider posting, plus five things you should never put on your Facebook business page or in any other public forum [...]]]></description> <content:encoded><![CDATA[<p><a
href="http://www.bizbest.com/wp-content/uploads/2012/01/Like-chalkboard.jpg"><img
class="alignright size-medium wp-image-1086" style="margin: 10px;" title="Like chalkboard" src="http://www.bizbest.com/wp-content/uploads/2012/01/Like-chalkboard-300x200.jpg" alt="" width="300" height="200" /></a>One question business owners often ask about social media is what to post on Facebook, Google+ or other social pages and platforms.  The list of options is long, but here are five easy things to consider posting, plus five things you should <em>never</em> put on your Facebook business page or in any other public forum for that matter:</p><h2>Five Types of Posts to Consider</h2><p>1)    <strong>Bite-sized Business FAQs:</strong>  Most businesses get asked the same questions over and over. Develop a list of the things people ask most about your product, service, business or industry – <em>along with some they don’t ask, but you wish they would </em>– and supply brief, informative answers.  Don’t post your list all at one. Instead, offer them up in bite-sized pieces from time to time as helpful tips that provide extra value to people who visit your social media page. If you already have an FAQ section on your business website, avoid simply linking to that.  Doing so forces customers or prospects to make extra effort to click through to your website and find the answer.</p><p>2)    <strong>Offers and promotions</strong>:  If you are having (or planning to have) a sale, run a contest or offer discount coupons, by all means announce and offer them on your Facebook page. But when it comes to promotions, some words attract attention better than others. Good words include: event, offer, new and win. Words that        tend to turn people off include: exclusive, free, discount and limited. </p><p>3)    <strong>Photos, graphics or other visuals</strong>:  People love eye-catching photos, interesting charts or graphs, illustrations, videos or other content they can grasp at a glance.  Be sure images are decent quality and charts tell a simple story. Poor quality pictures or complicated graphs won’t help.  If you sponsor local events, teams or causes, that’s made-to-order photo material for your Facebook page.</p><p>4)    <strong>Links to interesting items you’ve seen elsewhere:  </strong>This requires the least amount of work on your part.<strong> </strong>Whenever you see or read something that would help your customers in some way related to what your business does, save the link in a “helpful links” list.  Then share those links with a brief explanation on your Facebook page.  This shows customers you are looking out for their interests beyond simply trying to promote your own business.</p><p>5)    <strong>Your own helpful tips or articles: </strong>If you already have a blog, this is easy since all you have to do is put your blog posts on your Facebook page.  But you can also write articles for your website or write brief updates directly to Facebook.</p><h2>Five Topics to Avoid</h2><p>1)    <strong>Negative comments:</strong>  One of the worst things you can do is talk trash about a competitor or customer.</p><p>2)    <strong>Unverified information:</strong> Even if you are in a rush to share news or other information, take time to get the facts right.  Many business owners have shot themselves in the foot by jumping the gun on announcements that contain incorrect dates, times, prices, phone numbers, addresses, directions or other vital information.</p><p>3)    <strong>Out-of-the-blue subjects: </strong>Stick to topics that have relevance to your business and your customers. When you stray into unrelated topics you quickly alienate your audience.  People take time to visit your page because they see you as an expert in your area of business, so don’t blow.</p><p><em>4)    </em><strong>Overly personal information and opinions: </strong> There’s a fine line between being open, personable and opinionated and going over the line into rants or personal details that should remain personal. <em>Applying the “is it useful to my customers” test will help.</em></p><p>5)     <strong>Confidential business or customer information</strong>:  This is common sense but still trips up some businesses that post such information innocently or by mistake. Think first, and only hit the publish or submit button when you are confident that what you are about to post is appropriate.</p><p><em>Copyright © 2000-2012 BizBest</em>®<em> Media Corp.  All Rights Reserved.</em></p> ]]></content:encoded> <wfw:commentRss>http://www.bizbest.com/10-social-posting-tips-and-traps/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item><title>Defining Vision, Values and Strategy for Your Business</title><link>http://www.bizbest.com/defining-vision-values-and-strategy-for-your-business/</link> <comments>http://www.bizbest.com/defining-vision-values-and-strategy-for-your-business/#comments</comments> <pubDate>Sun, 15 Jan 2012 20:24:21 +0000</pubDate> <dc:creator>Daniel Kehrer</dc:creator> <category><![CDATA[Featured]]></category> <category><![CDATA[StartupSmarts]]></category> <guid
isPermaLink="false">http://www.bizbest.com/?p=1076</guid> <description><![CDATA[Many growing businesses struggle with three well-known concepts that are commonly confused and misunderstood: vision, values and strategy.  Business-building entrepreneurs often talk about their vision in the same context as strategy and values.  But they are separate and distinct things that – if improperly mixed – can sabotage the very goals they seek to articulate.  Think [...]]]></description> <content:encoded><![CDATA[<p><a
href="http://www.bizbest.com/wp-content/uploads/2012/01/vision-defined.jpg"><img
class="alignright size-medium wp-image-1077" style="margin: 10px;" title="vision defined" src="http://www.bizbest.com/wp-content/uploads/2012/01/vision-defined-300x200.jpg" alt="" width="240" height="160" /></a>Many growing businesses struggle with three well-known concepts that are commonly confused and misunderstood: <em>vision</em>, <em>values</em> and <em>strategy</em>.  Business-building entrepreneurs often talk about their vision in the same context as strategy and values.  But they are separate and distinct things that – if improperly mixed – can sabotage the very goals they seek to articulate.  Think of them as powerful prescription medicines that keep the business healthy but can be deadly if combined the wrong way.</p><p>The first thing to remember about <strong>values</strong> is that they don’t change.  Values are part of your business DNA.  Ask yourself: Why does my business exist?  And don’t say something lame like “to serve our customers.”  That’s not a value.  Much as a person’s values define who he or she is, a company’s values define what the business <em>stands for</em> (not merely what it does).  And although many smaller businesses don’t consider themselves to have a “culture” in the sense that larger companies use the term, every business has a culture of some kind, knowingly or not.</p><p>Values define your business and how you want the people who work there to interact with others.  Well-articulated value statements use words such as integrity, innovation, accuracy, loyalty, accountability and teamwork, among others.  A business defines its values so everyone has a clear understanding of what they are and can contribute to them as they make decisions and set priorities.  Your established values also guide your hiring decisions.  Values should be a constant that keeps your business on track though the many challenges it will face in the future.</p><p><strong>Vision is different.</strong>  Your <em>vision</em> is future-focused, and while values are a contributor, vision is about developing clarity and purpose around the most lofty, world- or market-changing goals you have.  This is your great aspiration for the business. It’s where you want to get to in, say 10 or 20 years.  But it’s not about growth rates or revenues, it’s more about what you want your business to <em>create</em> or achieve over time.  That vision won’t be easy to realize and may require constant course changes, hard work and many accumulated successes over time. As you define your vision, shoot for clarity and focus.  It’s tempting to talk in fuzzy terms that are difficult for others to interpret, much less follow.  Employees, partners, investors, vendors, customers and others must be able to grasp your vision for it to work (they don’t have to agree with it, just understand it).</p><p><strong>Only now you can talk about <em>strategy</em>.</strong>  The most important thing to know about strategy is that it changes all the time – in small steps or radical revisions.  That’s critical because business conditions, markets, competition, consumer preferences and a wide range of other factors are constantly in flux. If your strategy remains fixed, you are doomed.  Strategy is the roadmap you use to achieve your vision and reach your goals, guided by the GPS of your values.</p> ]]></content:encoded> <wfw:commentRss>http://www.bizbest.com/defining-vision-values-and-strategy-for-your-business/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> </channel> </rss>
