Saturday, December 26, 2009

Preparing your small business for your vacation

Want to skip town so you can go home and visit with some family? Maybe you’re feeling a little burned out and need to get away from it all? Whatever the case, burgeoning entrepreneurs are just as entitled to vacation times as their counterparts who receive biweekly paycheques. However, small business owners have to make some more complex preparations ahead of time.

I’m speaking from my perspective as a freelance writer, though the same concepts should apply to other entrepreneurial professionals as well. This also goes with the assumption that you are largely a one-person operation, but adjustments can be made for slightly bigger companies too.

First, it is important to plan ahead if you are going to take more than a couple of days off. Keep project deadlines in mind so that you leave little, if anything, “on the table” while you are away. You don’t want to have that looming deadline in the back of your head as you try to relax with an umbrella drink on the beach. It’s fine to line up more work for when you return, but try to minimize any work that straddles on both sides of your holiday time.

Second, ensure that proper preparations are in place for the receipt of any letters or parcels that you may be expecting in the mail. See to it that there is someone there to receive them on your behalf. Better still, make use of a mail service, like the one offered by the Network Hub, to handle your shipping and receiving needs in your absence.

Third, you may want to inform your existing clients of your intentions. It would leave a bad impression if a client assumed that you were in the office, sending you an urgent email or giving you a call, only to feel that he or she is being ignored. A simple and straightforward “out of office” auto-reply message may be in order.

Coming back from your vacation, you can feel re-energized and more motivated than ever to get back on the job. You deserve some relaxation time.

About the author: http://michaelkwan.com" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Michael Kwan is a professional freelance writer based out of Vancouver, Canada. He can be found blogging at http://btr.michaelkwan.com" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Beyond the Rhetoric.

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Sunday, December 20, 2009

The easiest way to get client referrals

While it is certainly valuable to invest in other marketing techniques, one of the greatest sources for new customers and clients is through referrals. This word-of-mouth advertising is particularly impressive because it doesn’t have to cost you a penny, quite unlike the promotional tactics that you may employ in a local newspaper or in online advertising.

The challenge, of course, is finding the most effective of way of acquiring new client referrals. How do you convince other people to send new customers your way? Well, there is one strategy that is remarkably simple but is also very effective: just ask.

You’d be amazed by how well this works. Each time that you can complete a project with a new client, be sure to thank them for their business, but don’t be afraid to ask them if they know anyone else who may be interested in your services. If your new client had a positive experience with you, they should have no problem recommending you to their business associates.

The key is to be helpful, but not pushy. If the new client feels obligated to send more business your way, they probably will put you in an unfavorable light and thus lower your chances of getting another new client through a referral.

Don’t stop at just getting new referrals through your clients either. It is very well possible to use a “suggestive sell” on your existing clients. For example, let’s say that a freelance writer like me just finished writing an instructional manual for a new product. From there, the same freelance writer can offer to write the press release to announce the product.

You’ll never know what you can get unless you ask for it.

About the author: http://michaelkwan.com" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Michael Kwan is a professional freelance writer based out of Vancouver, Canada. He can be found blogging at http://btr.michaelkwan.com" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Beyond the Rhetoric.

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The infrastructure needed for a home business

There is a definite appeal to working from home. It means that you don’t have to fight rush hour traffic or put on your fancy three-piece suit, since the commute to the home office is a short and casual one. However, working at home is not without its shortcomings. For instance, it means that you’ll need to invest in the right infrastructure to have a functional home office.

Naturally, the infrastructure required for your home office will depend on your chosen industry, your specific role, and your own personal preferences and needs. There are a few items that are common for most work-from-home professionals and their costs must be considered before taking the leap into having a full home office.

At the very least, you need a reliable computer that is not shared with anyone else in the home. Whether you opt for a laptop or a desktop, a PC or a Mac, is completely up to you, but this computer must not be shared with other family members. The last thing you want is to be contacted by a client only to see your significant other playing World of Warcraft on your sole computer. It may be worthwhile to visit a coworking space at times to avoid these situations and distractions.

To go along with your computer, you will also need a reliable Internet connection. If the nature of your business requires greater bandwidth and faster speeds, investing in a faster Internet connection is a worthwhile expense. This not only includes the price of the service, but also the suitable modem and router to accommodate the added speed.

Other equipment may include a suitable printer, copier, scanner, and fax machine. This can be best achieved with a multifunction printer of some kind. Depending on your business, you may or may not need a dedicated landline telephone. Some home-based businesses rely solely on mobile phones or VoIP (like Skype). All of these needs can be met with shared office space, since the organization providing the coworking space will maintain this equipment for everyone.

The infrastructure can easily extend well beyond basic hardware too. Entrepreneurs are well-advised to invest in software for accounting, customer relationship management (CRM), tax reporting, and more. Don’t forget about the design and printing of business cards, company letterhead, and other related stationery products too, as well as accounts with shipping companies and other specialized services. Investing in a mail and fax service can be worthwhile, since someone else can receive deliveries on your behalf if you are absent.

There’s more to a home office than throwing an old desk in a spare bedroom. The infrastructure can be just as complex and robust as a conventional downtown office.

About the author: http://michaelkwan.com" target="_blank">Michael Kwan is a professional freelance writer based out of Vancouver, Canada. He can be found blogging at http://btr.michaelkwan.com" target="_blank">Beyond the Rhetoric.

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Tuesday, December 15, 2009

The Britney Spears approach to small business

Well, we probably can’t give all the credit back to Miss Spears, but there are several lessons that small business owners can learn from Britney’s career. Entrepreneurs may more typically look up to people like Ted Turner, Donald Trump, and Steve Jobs, but there is still inspiration to be gained from looking at the success of pop stars too. Britney epitomizes this sentiment.

Never Down for the Count

Most of us probably remember Britney’s breakdown a few years back. She got into a bad relationship, shaved her head, and found more press in the tabloids than from the Billboard rankings.

However, with some good guidance and direction from her father, Britney has been able to get herself back on track and she has regained much of the success that she had lost. She’s rocketed back to the top of the charts, gone on tour to promote her new album, and she seems to be much more “together” than she has been.

In business, you’re going to get knocked down. Sometimes, it’ll be your fault and other times, it won’t. The key is having the ability to get back up time and time again.

Stick to What You Do Best

When coming up with a “comeback” for her career, Britney Spears (and her father) did not try to reinvent herself. She didn’t suddenly try to dabble too heavily in country, hip hop, or whatever was the current flavour of the day.

She’s a pop artist who sings “catchy” radio-friendly tunes. It was with this exact same genre that she managed to come back into the limelight. People didn’t want a “new” Britney; they wanted a more grown-up version of the “old” Britney (and it worked).

At the same time, she was able to capitalize on new technologies like Twitter to improve her chances at a successful comeback. Small businesses need to grow with the times, but the core product must remain true to the brand.

About the author: http://michaelkwan.com" target="_blank">Michael Kwan is a professional freelance writer based out of Vancouver, Canada. He can be found blogging at http://btr.michaelkwan.com" target="_blank">Beyond the Rhetoric.

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What business owners can learn from Jay Leno

For years, David Letterman and Jay Leno battled for ratings and market share in the lucrative 11:35pm late night television spot. However, Jay Leno announced in 2004 that he would be leaving the Tonight Show, passing the reins to Conan O’Brien.

However, it wasn’t like Jay Leno was going to retire and disappear into the sunset. He wanted to get back on television and he got his wish with the new Jay Leno Show at the 10pm time slot. What can business owners learn from such a move?

Stick with What You Do Best

Perhaps one of the biggest lessons that can be derived from this story is the value of work ethic and tenacity. Rather than disappear, Jay Leno continued to seek out opportunities to grow and to get himself back on television.

He also had a good grasp on his strengths, knowing that he would be best suited as a talk show host and not as a sitcom personality or a traditional news anchor. In business, know what you do best and work to build that skill set into something exceptional.

Be Loyal to Those Loyal to You

It didn’t take long after the announcement of Jay Leno’s departure from the Tonight Show that rumors sprung up about Jay moving to another network. It was a very real possibility that Leno could launch a new late night talk show with ABC or FOX, for example.

He may have entertained such offers, but Jay decided to stick with NBC in the end. This was the network that built his career and he had a certain loyalty to it. In like manner, business owners should remember to return the loyalty that they receive from customers, associates, and business partners. You don’t need to step on toes to climb the ladder.

Know the Importance of Branding

Jay Leno knew that he had established himself as a brand and this was nearly twenty years in the making. This, more so that his actual comedic ability, determined his long-term success. Entrepreneurs and new business owners need to learn a similar lesson.

About the author: http://michaelkwan.com" target="_blank">Michael Kwan is a professional freelance writer based out of Vancouver, Canada. He can be found blogging at http://btr.michaelkwan.com" target="_blank">Beyond the Rhetoric.

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Wednesday, December 9, 2009

My experience with event marketing

In the last 2.5 years, I have managed and promoted a lot of events, but for this particular post I will speak about the Vancouver Entrepreneur Meetup.  I took over the role of organizer for http://www.meetup.com/vancouver-entrepreneurs-startup-vancouver-office-space/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Vancouver Entrepreneur Meetup in June 2006. At that time we had about 200+ members, today we have about 2000+ members.   Our mission for http://www.meetup.com/vancouver-entrepreneurs-startup-vancouver-office-space/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Vancouver Entrepreneur Meetup was the same as our mission for http://www.thenetworkhub.ca" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">The Network Hub – connect, create and collaborate.

When we first started, our first meetup (which took place in http://www.meetup.com/vancouver-entrepreneurs-startup-vancouver-office-space/calendar/5005808/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">July 2006) consisted of about 14 people. It was a seminar format and we relocated at SFU Harbour Centre because our office was just a couple of days behind on finishing construction (for those doing some calculation in their head, yes, we did open before Workspace).   Our very first guest speaker was http://www.pamelachatry.com/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Pamela Chatry and, bless her for taking a chance on me, she trusted me enough to come and share her wisdom with the group.  Getting the word out about the group was difficult; people hesitate to promote a group that is so new that they have not made up their mind about how they feel about it yet.  We posted on http://vancouver.en.craigslist.ca/cal/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Craigslist community events and posted on a few local event websites but it was all very random.  We gained a few members but they just joined to see what’s going on, they didn’t engage or RSVP to attend the event. But the people who were coming regularly were strong believers and supporters of the Meetup.

I am referring to loyal, long-timer supporters of Vancouver Entrepreneur Meetup such as http://www.facebook.com/josh.ellwood" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Josh, http://www.addcoach4u.com/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Pete , http://www.sohosalescoaching.com/" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Tom, Efrain, and Arash.  They were the tipping point of the Vancouver Entrepreneur Meetup. They not only told their friends about it but they brought their friends.  Tools such as Craigslist, event websites and even Facebook group/event invites were just awareness tools; it was the people who were believers that made that extra push – from awareness to engagement.

We’ve tried many different things: tradeshows, posting online events, Craigslist, flyering, cross-promoting, building ambassadors. We put flyers in coffee shops, libraries, bars and cross-promoted with different entrepreneur clubs (this was our guerrilla marketing effort).  Do we use these tactics anymore?  Not as much, because Twitter, and now Facebook Fan Pages, do a better job assisting us.

Fast forward to this year, we had about 1800 members to start the year and we are now ending the year with about 2200 members.

What do we do today? We use Twitter and we cross promote with other organizations with similar interests.  Did we get lazier?  Yes! Have we gone outside? It’s not flyering weather. Jokes aside, Twitter works very much like flyering, as well as posting to online event websites, except that I can add the personal touch by directly connecting with persons of interest and inviting them to events.  Vice versa with organizations, I can personally tweet them about the upcoming events and invite them out.  But the #1 reason why we are able to sit back a bit more and why the Meetup was able to gain the membership we have up to date? The PEOPLE who are our ambassadors!

If you offer value to people and they deem it useful to their lives, they cannot help but talk about you.  Remember, don’t get lost in the tools.  Social media is not so different from ads in newspaper or television advertising: just because you are shown on TV or is retweeted it does NOT mean that you will gain an ambassador who will go out of their way to tell their friends, invite their friends and get their friends to engage with your event/product/service.

Once you gain an ambassador, do everything in your power to fulfill and exceed their expectations.  Rain or shine, Meetup will always take place on the third Thursday of every month (with exception of summer when networking in a room full of people can get too hot).  Every guest speaker is vetted, and once in a while, I like to mix things up to keep the event fresh such as Meetup of Meetups or a mini tradeshow.  Sometimes I make mistakes: the speaker isn’t as prepared or the topic isn’t as interesting, but that’s ok because my ambassadors will let their new friends know that next month will be even better.  These kind of conversations and support can hardly take place on a platform that only provides 140 characters nor can they be done with a “like” button.

I hope this helps you think about your social media/guerrilla marketing strategies. Feel free to ask me any questions you need using the comments below.  On a side note, follow us on http://www.twitter.com/thenetworkhub" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Twitter and be a http://www.facebook.com/thenetworkhub" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; padding-top: 0px; padding-right: 0px; padding-bottom: 0px; padding-left: 0px; text-decoration: underline; color: rgb(38, 62, 84);" target="_blank">Facebook Fan if you are interested in great networking opportunities and interesting workshops geared for entrepreneurs and small businesses.

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Monday, December 7, 2009

Should you have set business hours

When you run a brick and mortar business like a coffee shop or a grocery store, it goes without saying that you likely have set business hours. These hours are typically posted on the door and customers know exactly when they can expect you to be available.

What happens, then, if your business is primarily online or you operate on a “by appointment only” basis? The assumption that many people seem to have about freelancers and other similar professionals is that they are always “on the clock” and, as such, they are always available to be contacted by current and prospective clients.

There are certainly both advantages and disadvantages to setting standard business hours for situations like this. By having set business hours, it is much easier to achieve a healthy life-work balance, because it is much easier to leave work at work and home at home. This balance can be further enhanced by renting office space outside the home, rather than working out of a spare bedroom. To some, set business hours can also help to legitimize your company.

On the flip side, doing away with conventional business hours can also have its perks. One of the more popular reasons why some people choose entrepreneurship in the first place is the ability to have a more flexible work schedule. Set business hours can feel restrictive by comparison.

Having a more open schedule may mean that you may have greater opportunities to capture a potential sale, both at 3am and 3pm. On the other hand, clients may expect near-instant email responses at any hour of the day and they may even call you during what you consider personal time. The lines blur considerably.

In the end, it is largely a personal decision whether or not you should have set business hours. The best way to find out would be to give both configurations a try, seeing which you favor more.

About the author: http://michaelkwan.com" target="_blank">Michael Kwan is a professional freelance writer based out of Vancouver, Canada. He can be found blogging at http://btr.michaelkwan.com" target="_blank">Beyond the Rhetoric.

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Tuesday, December 1, 2009

But will it make money


I was watching an episode of Dragons’ Den on CBC the other day when one of the venture capitalists brought up a seemingly obvious point that is oftentimes overlooked by entrepreneurs.

For those of you who are not as familiar with the show, Dragons’ Den allows entrepreneurs and small business owners to pitch their ideas to a number of investors. The hope is that the venture capitalists will be willing to invest in their companies for a percentage share of the company’s ownership. We see everything from iPod sleeves to barbecue sauces on this show.

In the episode that I saw, one of the entrepreneurs presented her idea for a dog fancier’s trade show and carnival. She said that she had already successfully hosted a number of these shows and that she was ready to take it to the next level. As it stood, the show had free admission, was small scale, and under-charged the advertising vendors like Purina and Iams.

The budding entrepreneur said that the next step would include larger indoor venues, charged admission rates, and an expansion of the concept with merchandise sales, among other ideas. The venture capitalists questioned the profitability of such a show, saying that while it may be popular with free admission, it is unproven as a money-making business.

It’s easy for entrepreneurs to lose sight of the end goal. They can get caught up in the enthusiasm of the idea without paying enough attention to whether or not the business can make money. Nowhere is this more prevalent than with web-based businesses. Twitter and Facebook are hugely popular, for example, but they’re far from being immensely profitable.

For your business to succeed, it needs more than just popularity; it needs to be economically sound and it needs to financially viable.

About the author: http://michaelkwan.com" target="_blank">Michael Kwan is a professional freelance writer based out of Vancouver, Canada. He can be found blogging at http://btr.michaelkwan.com" target="_blank">Beyond the Rhetoric.

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