What You Can Learn From Top Marketers
By Michael Fleischner
I don’t know about you, but I feel like there is a scarcity of good marketing today. What do I mean “good marketing?” You know the kind of marketing that sticks with you and drives you to take action. The only marketing that has really moved me in the last couple of years has been from Apple. How do I know? I own 3 ipods.
You might be thinking to yourself that it’s more the product that drives behavior than the marketing, and when it comes to the ipod I don’t necessarily disagree. However, I would argue that in some ways, the marketing has to be even better than it does with your run of the mill product.
Apple has maintained a certain level of success with their marketing and now that marketing must not only tie together with previous marketing campaigns, but convince current customers that their current products are no longer sufficient.
It appears that this is done, not through slight of hand, but by showing you what you can’t do with your current device. By illustrating this in a manner that is contradictory to your current satisfaction, it does make you feel like your ipod – which was fine until a moment ago has suddenly become inadequate. To me, that’s really good marketing.
So what can be learned from the tens of millions that Apple spends on advertising every year? I think the answer to that question is to work in lock step with your product development team to showcase developments and tap the emotions of those using your products. When I use my iTouch, I feel empowered, cool, and complete. I wouldn’t have reached that conclusion without the help of marketing to get me there.
The lesson that I’ve learned is that marketing, if done correctly, helps us to define how we feel about a product. Once you have prospects and customers attaching emotions to your products, you develop loyal customers. The next time that you’re thinking about a marketing campaign, consider how you want your customers to feel about your product.
Manage the entire purchase decision process in order to consistently manage the experience to reinforce or produce these desired feelings. Once you’ve been able to do that successfully, your creative, marketing messages and promotions should be relatively easy to produce. Now that’s what I call good marketing.
About the Author
Michael Fleischner is an author and Founder of MarketingScoop.com. If you're looking for SEO training or wish to Learn SEO with the help of leading search engine optimization experts, then check out the leading SEO software with MarketingScoop's SEO Elite Software Review and turbo charge your search engine optimization.
Tuesday, November 30, 2010
Thursday, November 25, 2010
How To Find SEO Consultants Who Get Results
By Michael Fleischner
If your web site is a major source or revenue, or could be, then you should have a formal search engine optimization program that monitors and improves rankings on a daily basis. Now you might be thinking that you don’t have the resources necessary to implement a productive SEO program, but the costs of not doing so are significant.
Starting an SEO program for your business is easier than you think. There are numerous SEO consultants and experts that can show you how to radically improve your rankings for much less than you might think. In fact, many search engine optimization consultants can save you significant dollars if managed properly.
Getting the most from your SEO consultant requires a number of considerations. I have found that the most productive engagements around optimization and SEO all have these same factors in common. By adhering to these principals, mutual expectations are set and each party has a clear understanding of what is being delivered by whom.
The first step is finding a credible source. There are many people out there who claim to be search engine optimization experts but have nothing to show for it. Find a legitimate company, ask for references, or find someone who has a proven track record and is an authority on the topic. A good bet is to find someone who has achieved number one rankings for their website or the web sites of their clients.
The second step is to mutually agree upon what’s being delivered. Most clients feel that by paying a search engine optimization consultant a sum of money that their site is going to instantly rank number one on Google, Yahoo!, and Bing. I can tell you first hand that‘s not the case. The purpose of an seo consultant is to help you construct an effective strategy for the long term optimization of your web site.
The third and final step is to assemble a team to work with the consultant and implement his findings. Seventy percent or so of the companies I’ve worked with were very interested in learning how to optimize their websites but couldn’t or weren’t willing to follow through on what it takes to succeed. Commit time and resources dedicated to implementing the consultant’s finding and you will see the true value of your investment.
Whether you’re launching new website or trying to improve the rankings of an existing site, it’s important that you find a reliable resource that can help you succeed. Define what success looks like for both you and the consultant you will be working with. By doing so, you’re creating a mutual understanding of the work that’s being done and clearly understand what it means to your business.
Michael Fleischner is an SEO consultant and author of SEO Made Simple, revealing strategies guaranteed to improve search engine rankings. Learn more about Michael's hands-on SEO training program and SEO Elite Software Review at MarketingScoop.com or contact him via the Marketing Blog at http://marketing-expert.blogspot.com.
If your web site is a major source or revenue, or could be, then you should have a formal search engine optimization program that monitors and improves rankings on a daily basis. Now you might be thinking that you don’t have the resources necessary to implement a productive SEO program, but the costs of not doing so are significant.
Starting an SEO program for your business is easier than you think. There are numerous SEO consultants and experts that can show you how to radically improve your rankings for much less than you might think. In fact, many search engine optimization consultants can save you significant dollars if managed properly.
Getting the most from your SEO consultant requires a number of considerations. I have found that the most productive engagements around optimization and SEO all have these same factors in common. By adhering to these principals, mutual expectations are set and each party has a clear understanding of what is being delivered by whom.
The first step is finding a credible source. There are many people out there who claim to be search engine optimization experts but have nothing to show for it. Find a legitimate company, ask for references, or find someone who has a proven track record and is an authority on the topic. A good bet is to find someone who has achieved number one rankings for their website or the web sites of their clients.
The second step is to mutually agree upon what’s being delivered. Most clients feel that by paying a search engine optimization consultant a sum of money that their site is going to instantly rank number one on Google, Yahoo!, and Bing. I can tell you first hand that‘s not the case. The purpose of an seo consultant is to help you construct an effective strategy for the long term optimization of your web site.
The third and final step is to assemble a team to work with the consultant and implement his findings. Seventy percent or so of the companies I’ve worked with were very interested in learning how to optimize their websites but couldn’t or weren’t willing to follow through on what it takes to succeed. Commit time and resources dedicated to implementing the consultant’s finding and you will see the true value of your investment.
Whether you’re launching new website or trying to improve the rankings of an existing site, it’s important that you find a reliable resource that can help you succeed. Define what success looks like for both you and the consultant you will be working with. By doing so, you’re creating a mutual understanding of the work that’s being done and clearly understand what it means to your business.
Michael Fleischner is an SEO consultant and author of SEO Made Simple, revealing strategies guaranteed to improve search engine rankings. Learn more about Michael's hands-on SEO training program and SEO Elite Software Review at MarketingScoop.com or contact him via the Marketing Blog at http://marketing-expert.blogspot.com.
Saturday, November 20, 2010
Top 5 Search Engine Ranking Factors: Pay Attention!!!
By Michael Fleischner
As someone who makes a living improving search engine rankings, I can tell you that there is a lot of bad information out there about SEO. What if I were to tell you that the road map for achieving top rankings was within your grasp? The holy grail of rankings is not imaginary. As is true with any major success, it leaves clues.
By working with literally hundreds of small and medium sized websites, I have found that top ranked sites have a number of factors in common. What are they? I’m about to share these factors with you and explain what separates those in the top Google positions and those that are never found on page one of search results.
The first search engine ranking factor has to do with the anchor text of all inbound links to your website. Google and other search engines use the anchor text from other sites linking in to determine what your site is about and what it should rank well for. If websites link in only using a URL, and not your keywords in the anchor text, email them and ask them to update your link. The link should always appear with your most important keywords.
The second most important ranking factor is using keywords in your title tag and other meta tags. Meta tags still have an impact on your search rankings. Although the weight of meta tags may be minimal, they are effective in categorizing your page and identifying what search engines should expect to find when they spider web site pages. Make sure your tags are constructed properly and include you keywords.
The third ranking factor to consider for your web site is link popularity. This phrase has been talked about in search engine circles for a while but can be equated with Page Rank. The concept of Page rank or link popularity for that matter take a number of factors into consideration to identify the quality of web pages from an external perspective. The largest factor that influences search engine rankings is the number and quality of links that are pointing to a web site or web page.
The fourth ranking factor is the diversity of domains that link to your web site. For many search engines, it’s not only what links you have to your site but making sure they are from different domains. This represents more popularity associated with you web site and therefore is judged to be a better search result. When link building, try to focus on generating inbound links from different websites.
The final ranking factor is keyword use in root domain. Although it's possible to use subdomain or dedicated pages to get your keywords in a URL, nothing beats having them in your root domain.
All of these factors are important for top search rankings. Don’t overlook any of them if trying to improve your search rankings for particular keywords or keyword phrases. Also, be sure to continually read up on the subject or consider any one of a number of SEO training programs that can show you how to have more impact with your optimization efforts.
Michael Fleischner is an SEO consultant and author of SEO Made Simple, revealing strategies guaranteed to improve search engine rankings. Learn more about Michael's hands-on SEO training program, Internet Marketing Forum, and SEO consulting at MarketingScoop.com or contact him via the Marketing Blog at http://marketing-expert.blogspot.com.
As someone who makes a living improving search engine rankings, I can tell you that there is a lot of bad information out there about SEO. What if I were to tell you that the road map for achieving top rankings was within your grasp? The holy grail of rankings is not imaginary. As is true with any major success, it leaves clues.
By working with literally hundreds of small and medium sized websites, I have found that top ranked sites have a number of factors in common. What are they? I’m about to share these factors with you and explain what separates those in the top Google positions and those that are never found on page one of search results.
The first search engine ranking factor has to do with the anchor text of all inbound links to your website. Google and other search engines use the anchor text from other sites linking in to determine what your site is about and what it should rank well for. If websites link in only using a URL, and not your keywords in the anchor text, email them and ask them to update your link. The link should always appear with your most important keywords.
The second most important ranking factor is using keywords in your title tag and other meta tags. Meta tags still have an impact on your search rankings. Although the weight of meta tags may be minimal, they are effective in categorizing your page and identifying what search engines should expect to find when they spider web site pages. Make sure your tags are constructed properly and include you keywords.
The third ranking factor to consider for your web site is link popularity. This phrase has been talked about in search engine circles for a while but can be equated with Page Rank. The concept of Page rank or link popularity for that matter take a number of factors into consideration to identify the quality of web pages from an external perspective. The largest factor that influences search engine rankings is the number and quality of links that are pointing to a web site or web page.
The fourth ranking factor is the diversity of domains that link to your web site. For many search engines, it’s not only what links you have to your site but making sure they are from different domains. This represents more popularity associated with you web site and therefore is judged to be a better search result. When link building, try to focus on generating inbound links from different websites.
The final ranking factor is keyword use in root domain. Although it's possible to use subdomain or dedicated pages to get your keywords in a URL, nothing beats having them in your root domain.
All of these factors are important for top search rankings. Don’t overlook any of them if trying to improve your search rankings for particular keywords or keyword phrases. Also, be sure to continually read up on the subject or consider any one of a number of SEO training programs that can show you how to have more impact with your optimization efforts.
Michael Fleischner is an SEO consultant and author of SEO Made Simple, revealing strategies guaranteed to improve search engine rankings. Learn more about Michael's hands-on SEO training program, Internet Marketing Forum, and SEO consulting at MarketingScoop.com or contact him via the Marketing Blog at http://marketing-expert.blogspot.com.
Wednesday, November 17, 2010
How To Improve Your Online Conversion By 300% Or More
By Michael Fleischner
Do I have your attention? Anyone trying to make a living online is interested in one thing, improving conversions. As an Internet marketing veteran, I’ve seen plenty of web sites and blogs miss one their biggest opportunities for growth. The answer is actually quite simple, making the most of your list.
Maybe you have your own email list of fifty-thousand names or more. Perhaps you have a small list of just a few dozen prospects who have emailed you questions or comments. Regardless of where you begin, having a list is only part of the equation. The most successful marketers I know utilize their list in a variety of ways to build relationships and sell products that are a win-win for both buyer and seller.
The first way to utilize your list is through an auto responder sequence. If you’re not using an auto responder, I advise you to search for auto responder services online. Popular services like Aweber only charge around twenty dollars per month, allowing you to send unlimited messages. These messages should position you as an expert, provide purchase ideas, and continually provide value.
The second way to use your list effectively is to provide pre-notification of product launches. There are many super affiliates that use their list in this manner, generating tens of thousands of dollars per month. Once you know of an affiliate product being launched within a six to eight week period, map out a pre-launch communication plan that reaches out to individuals prior to launch. This may include access to product information, downloads, videos, etc., to build anticipation around launch day. When launch day comes, create a sense of immediacy and scarcity – purchases will ensue.
The third way to leverage the power of your list is through referrers, building an even larger list that you can communicate with. Are you asking those who sign up for your list to refer your company, products, or services to others? Make your emails easy to forward and encourage referrals. This is a great way to reach individuals who are more likely to value your content and accept your offers.
The final method for leveraging an email list is to communicate on a regular basis. Your auto-responder sequence should integrate a series of messages spread out over time. By continually staying in front of your list and utilizing the content that you have to provide value, these individuals will stay engaged and have a higher propensity to purchase from you.
The time to start building your email list is now. In parallel, be sure to focus your energies on leveraging that list using the proper techniques. Having a great list is fine but unless you utilize it properly, you’ll never see the true value inherent in the list itself.
Michael Fleischner is an SEO consultant and author of SEO Made Simple, revealing strategies guaranteed to improve search engine rankings. Learn more about Michael's hands-on SEO training program, Internet Marketing Forum, and SEO consulting at MarketingScoop.com or contact him via the Marketing Blog at http://marketing-expert.blogspot.com.
Do I have your attention? Anyone trying to make a living online is interested in one thing, improving conversions. As an Internet marketing veteran, I’ve seen plenty of web sites and blogs miss one their biggest opportunities for growth. The answer is actually quite simple, making the most of your list.
Maybe you have your own email list of fifty-thousand names or more. Perhaps you have a small list of just a few dozen prospects who have emailed you questions or comments. Regardless of where you begin, having a list is only part of the equation. The most successful marketers I know utilize their list in a variety of ways to build relationships and sell products that are a win-win for both buyer and seller.
The first way to utilize your list is through an auto responder sequence. If you’re not using an auto responder, I advise you to search for auto responder services online. Popular services like Aweber only charge around twenty dollars per month, allowing you to send unlimited messages. These messages should position you as an expert, provide purchase ideas, and continually provide value.
The second way to use your list effectively is to provide pre-notification of product launches. There are many super affiliates that use their list in this manner, generating tens of thousands of dollars per month. Once you know of an affiliate product being launched within a six to eight week period, map out a pre-launch communication plan that reaches out to individuals prior to launch. This may include access to product information, downloads, videos, etc., to build anticipation around launch day. When launch day comes, create a sense of immediacy and scarcity – purchases will ensue.
The third way to leverage the power of your list is through referrers, building an even larger list that you can communicate with. Are you asking those who sign up for your list to refer your company, products, or services to others? Make your emails easy to forward and encourage referrals. This is a great way to reach individuals who are more likely to value your content and accept your offers.
The final method for leveraging an email list is to communicate on a regular basis. Your auto-responder sequence should integrate a series of messages spread out over time. By continually staying in front of your list and utilizing the content that you have to provide value, these individuals will stay engaged and have a higher propensity to purchase from you.
The time to start building your email list is now. In parallel, be sure to focus your energies on leveraging that list using the proper techniques. Having a great list is fine but unless you utilize it properly, you’ll never see the true value inherent in the list itself.
Michael Fleischner is an SEO consultant and author of SEO Made Simple, revealing strategies guaranteed to improve search engine rankings. Learn more about Michael's hands-on SEO training program, Internet Marketing Forum, and SEO consulting at MarketingScoop.com or contact him via the Marketing Blog at http://marketing-expert.blogspot.com.
Sunday, October 3, 2010
How to Start a Home-Based Business That Will Succeed Part 2
Figuring out the profit angle and doing a business plan are two important parts of the process of starting a home-based business – two parts that many people starting a home-based business don’t bother with. But if you want to start a home-based business that will succeed, rather than just being another business failure that drained your time and wallet and left you disappointed, you need to pay particular attention to these two steps of the starting a home-based business process.
5. Figure out the profit angle.
This is the litmus test for anyone wanting to start a home-based business. You may have a great talent for something and the skills that enable you to express it, but if people aren’t willing to pay you for the product or service, it won’t work as a business. For each home based business idea, you need to know the answer to two questions:
How much are people willing to pay me for this product or service?
Can I make a sufficient income from that?
Suppose that you, being a creative person, are able to make beautiful quilts. However, because of the time involved, you’re only able to make two quilts per month. You discover that people are willing to pay $200 for each quilt you produce. The math says that you would have, therefore, an income of $400 per month. (Actually less, as there will be expenses related to quilt production, such as cloth and thread, to deduct from this amount.)
An outrageous example, isn’t it? But many people put themselves in a very similar position by starting home-based businesses without considering the profit angle. Business is about profit, and without sufficient profit, you’ll never have enough income to even pay the bills, let alone generate wealth. (For more on creating a business that actually produces income, see Is Your Business Model Broken?)
Go back to your list of home business ideas and assess the profit-making potential of each. If the answer to either of the two questions above isn’t satisfactory, cross that idea for starting a home-based business off your list.
Note that you decide how much income is enough. Many people run part-time home-based businesses that supplement their income and are perfectly satisfied with that. If you are planning to start a home-based business that will provide all of your income, however, you have to research the profit-making ability of your business idea very seriously.
6. Do a business plan to assess the viability of your new home-based business.
Many people are under the impression that working through a business plan is only necessary if you’re going to be looking for a business loan. But the primary reason to do a business plan is to find out if your business idea has a chance of becoming a successful business.
So once you’ve chosen a home-based business idea you’re passionate about, start working through a business plan. My Business Plan Outline will lead you through the process. The research and thinking that you do as you work through the business plan will do more than anything else to ensure that the home-based business you start succeeds.
And if your work on the business plan shows you that your idea for starting a home-based business is not a good idea, shelve it, choose another home business idea and go through the process again. It’s not uncommon to work through part of at least three business plans before you find the business idea that will blossom into the thriving business you want to run.
So if you want to start a home business, ignore the home-business opportunity ads; there are no shortcuts to starting a successful home-based business. By following the six steps outlined above instead, you’ll end up with an idea for a home-based business that truly has the potential to succeed, bringing you the money and the satisfaction you’ve been dreaming of.
5. Figure out the profit angle.
This is the litmus test for anyone wanting to start a home-based business. You may have a great talent for something and the skills that enable you to express it, but if people aren’t willing to pay you for the product or service, it won’t work as a business. For each home based business idea, you need to know the answer to two questions:
How much are people willing to pay me for this product or service?
Can I make a sufficient income from that?
Suppose that you, being a creative person, are able to make beautiful quilts. However, because of the time involved, you’re only able to make two quilts per month. You discover that people are willing to pay $200 for each quilt you produce. The math says that you would have, therefore, an income of $400 per month. (Actually less, as there will be expenses related to quilt production, such as cloth and thread, to deduct from this amount.)
An outrageous example, isn’t it? But many people put themselves in a very similar position by starting home-based businesses without considering the profit angle. Business is about profit, and without sufficient profit, you’ll never have enough income to even pay the bills, let alone generate wealth. (For more on creating a business that actually produces income, see Is Your Business Model Broken?)
Go back to your list of home business ideas and assess the profit-making potential of each. If the answer to either of the two questions above isn’t satisfactory, cross that idea for starting a home-based business off your list.
Note that you decide how much income is enough. Many people run part-time home-based businesses that supplement their income and are perfectly satisfied with that. If you are planning to start a home-based business that will provide all of your income, however, you have to research the profit-making ability of your business idea very seriously.
6. Do a business plan to assess the viability of your new home-based business.
Many people are under the impression that working through a business plan is only necessary if you’re going to be looking for a business loan. But the primary reason to do a business plan is to find out if your business idea has a chance of becoming a successful business.
So once you’ve chosen a home-based business idea you’re passionate about, start working through a business plan. My Business Plan Outline will lead you through the process. The research and thinking that you do as you work through the business plan will do more than anything else to ensure that the home-based business you start succeeds.
And if your work on the business plan shows you that your idea for starting a home-based business is not a good idea, shelve it, choose another home business idea and go through the process again. It’s not uncommon to work through part of at least three business plans before you find the business idea that will blossom into the thriving business you want to run.
So if you want to start a home business, ignore the home-business opportunity ads; there are no shortcuts to starting a successful home-based business. By following the six steps outlined above instead, you’ll end up with an idea for a home-based business that truly has the potential to succeed, bringing you the money and the satisfaction you’ve been dreaming of.
Friday, October 1, 2010
How to Start a Home-Based Business That Will Succeed Part 1
The best home-based business is the one you start with your own two hands – not the one in the ad or the one your friend is promoting.
How do you start a successful home-based business? The secret of success is not to stop halfway through the business selection process as so many people do. Follow these six steps to start a home-based business that will succeed rather than just being a drain of your time and money.
1. Access your talents.
Think of your talents as the things you’re really good at. They’re like personality traits. For instance, you may be a very creative person, or a person who’s really good at attending to details or a person with a gift for communicating. Your talents are the base for any successful business venture, including a home-based business.
2. Examine your skills.
These are the things that you can do. The difference between talents and skills is that talents are passive and skills are active. Or, to put it another way, you’re born with talents but you develop skills over time as you learn. For instance, a creative person may have excellent skills for drawing or writing or design. A person who has a talent for attending to detail may have strong accounting or organizational skills.
3. Put your talents and skills together and generate business ideas.
The procedure I’m outlining here will work for starting any kind of business, but as we’re focusing on home-based businesses, the question is, “With these talents and skills, what kind of home-based business could I start?”
Suppose you’re one of those people who has accounting and organizational skills and the talents to back them. Some of the home business ideas you come up with could include:
And that’s just four ideas from our limited premise here. When you’re doing this exercise, you, of course, have more than one or two skills, so you’ll find that your list of possible home business ideas is much longer.
Don’t censor yourself as you list home business ideas. List all your ideas at this stage; crossing off choices comes later.
(If you’re having trouble coming up with business ideas, see 7 Sources of Business Ideas to help you get started thinking as an entrepreneur.)
4. Give your business ideas the home-based business test.
The fact is that not all businesses are going to work well as home-based businesses, and some won’t work at all. You are not going to be able to start a manufacturing business in a residential neighbourhood, for example, and any home-based business that involves a lot of clients coming and going is sure to upset the neighbours.
Go back over your list and cross off any business ideas that won’t work as home-based businesses.
If you are intent on starting a home-based business where you actually get to work at home, also cross off any business that could be operated as a home-based business but wouldn’t allow you to work at home. For example, in the short list of sample business ideas above, I would cross off “business manager”, as this would involve off-site work.
Many people who want to start home-based businesses stop here. They’ve come up with an idea for a home-based business that they like and feel they’ll be good at, so they plunge into it at this point.
Don’t make this mistake! If you do, you run an extremely high risk of investing months of your time, energy and money in a losing venture and seeing the home-based business you had such hopes for fail. As I said in the introduction, the secret to starting a home-based business that will succeed is to work through the entire business selection process. The next two steps are critical to your home-based business’s success.
How do you start a successful home-based business? The secret of success is not to stop halfway through the business selection process as so many people do. Follow these six steps to start a home-based business that will succeed rather than just being a drain of your time and money.
1. Access your talents.
Think of your talents as the things you’re really good at. They’re like personality traits. For instance, you may be a very creative person, or a person who’s really good at attending to details or a person with a gift for communicating. Your talents are the base for any successful business venture, including a home-based business.
2. Examine your skills.
These are the things that you can do. The difference between talents and skills is that talents are passive and skills are active. Or, to put it another way, you’re born with talents but you develop skills over time as you learn. For instance, a creative person may have excellent skills for drawing or writing or design. A person who has a talent for attending to detail may have strong accounting or organizational skills.
3. Put your talents and skills together and generate business ideas.
The procedure I’m outlining here will work for starting any kind of business, but as we’re focusing on home-based businesses, the question is, “With these talents and skills, what kind of home-based business could I start?”
Suppose you’re one of those people who has accounting and organizational skills and the talents to back them. Some of the home business ideas you come up with could include:
- Tax preparation
- Bookkeeping
- Business manager
- Professional organizer
And that’s just four ideas from our limited premise here. When you’re doing this exercise, you, of course, have more than one or two skills, so you’ll find that your list of possible home business ideas is much longer.
Don’t censor yourself as you list home business ideas. List all your ideas at this stage; crossing off choices comes later.
(If you’re having trouble coming up with business ideas, see 7 Sources of Business Ideas to help you get started thinking as an entrepreneur.)
4. Give your business ideas the home-based business test.
The fact is that not all businesses are going to work well as home-based businesses, and some won’t work at all. You are not going to be able to start a manufacturing business in a residential neighbourhood, for example, and any home-based business that involves a lot of clients coming and going is sure to upset the neighbours.
Go back over your list and cross off any business ideas that won’t work as home-based businesses.
If you are intent on starting a home-based business where you actually get to work at home, also cross off any business that could be operated as a home-based business but wouldn’t allow you to work at home. For example, in the short list of sample business ideas above, I would cross off “business manager”, as this would involve off-site work.
Many people who want to start home-based businesses stop here. They’ve come up with an idea for a home-based business that they like and feel they’ll be good at, so they plunge into it at this point.
Don’t make this mistake! If you do, you run an extremely high risk of investing months of your time, energy and money in a losing venture and seeing the home-based business you had such hopes for fail. As I said in the introduction, the secret to starting a home-based business that will succeed is to work through the entire business selection process. The next two steps are critical to your home-based business’s success.
Wednesday, September 29, 2010
Got a Job? Start a New Business!
People are often taken aback when they ask me, "When should I start my new business?" and I answer, "Now."
"But I’m working," is a typical answer.
Exactly.
The best time to start being self-employed is when you're already employed. You'll only be able to work at or in your business part-time, but you'll have three big advantages that will smooth your business start up and give your new business a better chance of success.
1) You'll have business start up funding.
The main deterrent to starting a small business for most people is money. Even if they have a nest egg set aside and can afford the start up costs, they know that their new business isn't going to bring in any appreciable amount of money for a while and don't know how they're going to pay their bills in the meantime.
Getting a small business loan is an option for some, but small business loans are often earmarked for specific uses. (The Canada Small Business Financing Program is one such program that offers small business loans with restrictions on what can be done with the money.)
While you may be able to get a small business loan for purchasing property or equipment for your new business, getting a small business loan to cover your living expenses may well be impossible. (See 10 Things You Need to Know About Small Business Funding for more about business start up funding.)
Starting your new business part-time solves this problem neatly. You're still able to pay your bills and can afford to bankroll your new business because you've got money coming in.
2) Getting the first client or customer may be easier.
Getting the first client is another thing many people starting a new business struggle with. They proudly put out their shingles, do some advertising and then wait... and wait... and wait for the first client or customer to show some interest in their products or services. Meantime, their expenses roll merrily along.
But if you've started your business part-time while you're still working, your situation is very different. Besides giving you a financial cushion for starting your new business, your current job puts you inside a network that is full of potential clients and/or customers. Even if your co-workers and boss are not interested in the products and/or services you're now offering, he or she may know someone (or several someones!) who will be.
Remember, though, not to promote your new business in any way that is against your employer's company policy or that will turn off potential clients. Slapping bumper stickers advertising your business on all your co-worker's vehicles or talking endlessly about your new business all through lunch are not ways to win new customers and may get you into trouble at work as well.
However, mentioning what you're doing now to the people you're working with at the right time in the right place can get you clients and/or customers and help get your new business off the ground.
3) You'll have testing time.
Starting a part-time business also gives you the luxury of not having to fully commit to your new business right away. Instead, you'll have time to test both the feasibility of your business idea and the practicality of you running such a business.
You may find, for instance, that your market research went awry and there just isn't the interest in your products and/or services that you thought there was. It's a whole lot easier to drop an idea that's not working and move on if you have a job to fall back on.
Or you may find that the business idea is fine but that you personally are not the right person to implement it. For example, friends of mine once started a Bed and Breakfast business only to discover that they didn't actually like hosting strangers in their home and that running the B&B took many more hours a week than they had anticipated. Just like attractions to other people, attractions to particular businesses may or may not work out.
Part-Time Business Smoothes Your Business Start Up
Starting a part-time business while you're employed cuts a lot of your risk when you're starting a new business and makes it easier for you to find out what kind of chance for success your new business has. While you obviously won't have as much time to work on your new business as you would if you quit your job and threw yourself into the business start up process full time, the advantages of starting a part-time business make up for the slow start.
"But I’m working," is a typical answer.
Exactly.
The best time to start being self-employed is when you're already employed. You'll only be able to work at or in your business part-time, but you'll have three big advantages that will smooth your business start up and give your new business a better chance of success.
1) You'll have business start up funding.
The main deterrent to starting a small business for most people is money. Even if they have a nest egg set aside and can afford the start up costs, they know that their new business isn't going to bring in any appreciable amount of money for a while and don't know how they're going to pay their bills in the meantime.
Getting a small business loan is an option for some, but small business loans are often earmarked for specific uses. (The Canada Small Business Financing Program is one such program that offers small business loans with restrictions on what can be done with the money.)
While you may be able to get a small business loan for purchasing property or equipment for your new business, getting a small business loan to cover your living expenses may well be impossible. (See 10 Things You Need to Know About Small Business Funding for more about business start up funding.)
Starting your new business part-time solves this problem neatly. You're still able to pay your bills and can afford to bankroll your new business because you've got money coming in.
2) Getting the first client or customer may be easier.
Getting the first client is another thing many people starting a new business struggle with. They proudly put out their shingles, do some advertising and then wait... and wait... and wait for the first client or customer to show some interest in their products or services. Meantime, their expenses roll merrily along.
But if you've started your business part-time while you're still working, your situation is very different. Besides giving you a financial cushion for starting your new business, your current job puts you inside a network that is full of potential clients and/or customers. Even if your co-workers and boss are not interested in the products and/or services you're now offering, he or she may know someone (or several someones!) who will be.
Remember, though, not to promote your new business in any way that is against your employer's company policy or that will turn off potential clients. Slapping bumper stickers advertising your business on all your co-worker's vehicles or talking endlessly about your new business all through lunch are not ways to win new customers and may get you into trouble at work as well.
However, mentioning what you're doing now to the people you're working with at the right time in the right place can get you clients and/or customers and help get your new business off the ground.
3) You'll have testing time.
Starting a part-time business also gives you the luxury of not having to fully commit to your new business right away. Instead, you'll have time to test both the feasibility of your business idea and the practicality of you running such a business.
You may find, for instance, that your market research went awry and there just isn't the interest in your products and/or services that you thought there was. It's a whole lot easier to drop an idea that's not working and move on if you have a job to fall back on.
Or you may find that the business idea is fine but that you personally are not the right person to implement it. For example, friends of mine once started a Bed and Breakfast business only to discover that they didn't actually like hosting strangers in their home and that running the B&B took many more hours a week than they had anticipated. Just like attractions to other people, attractions to particular businesses may or may not work out.
Part-Time Business Smoothes Your Business Start Up
Starting a part-time business while you're employed cuts a lot of your risk when you're starting a new business and makes it easier for you to find out what kind of chance for success your new business has. While you obviously won't have as much time to work on your new business as you would if you quit your job and threw yourself into the business start up process full time, the advantages of starting a part-time business make up for the slow start.
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