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Exorcising the Ghost of Partners Past
"Three years ago, I started a business with two other guys. We set up a limited liability company (LLC) and split the ownership 40 percent, 40 percent and 20 percent.
The business grew for about a year but then really tapered off when the …Read more.
When You've Bought a Franchise, but the Numbers Don't Add Up
"A partner and I invested in a franchise last year. The franchise offers a variety of healthy foods, but focuses primarily on soups and salads.
We were offered a number of territories, but chose a large downtown area in an upscale Midwestern …Read more.
How a Place Where 'Everybody Knows Your Name' Makes Sure Everybody Knows Its Name
I was privileged to be one of the "makeover artists" at this year's New York Business Xpo, held last week at the Javits Center in New York City. More than 400 exhibitors and some of the top entrepreneurship experts in the country have made …Read more.
Notes From a Business Plan Competition (Part 2 of 2)
During the afternoon session of last week's Business Plan Competition sponsored by The Entrepreneurship Foundation (www.entrepreneurshipfoundation.org), the focus was on "personal businesses" (retail and service concepts that weren't …Read more.
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New Year's Resolutions for 2012 (Part 1)A happy and prosperous 2012 to all my readers. The New Year is always a great time to think about things to do differently with your business, so here are my New Year's Resolutions for business owners and self-employed professionals. 1. UPDATE YOUR WEB PRESENCE. Look at your business website, and make at least five changes that will make it look more attractive, fun and cool to prospective customers. Here are some ideas ... Post some content-rich articles answering commonly asked questions about what you do. Put some videos up (and post the videos on YouTube) demonstrating in an entertaining way how to do (or not to do) something. Start a blog or discussion group allowing your customers to talk to one another about the stuff you do, with you as the all-knowing moderator. Most importantly, hire a search engine optimization (SEO) consultant and learn what you can do to get your website higher up in the Google search rankings. At the same time, delete things from your website that are boring, difficult to access or that are not driven by your customers. If you are a lawyer or accountant, nobody cares what you look like or where you went to school, so get rid of the website photo and biography. Put up your fee schedule instead, because clients do care about how much you're going to charge them for your services! Also, a little free advice on frequently asked questions wouldn't hurt. Don't have a business website? Create one! People expect you to have one, and it dings your credibility if you don't. Make sure your Web address appears on all of your business cards and stationery; on your telephone answering message; on the signature line of your email messages; and on all offline marketing materials (such as the stenciling on your car or van). 2. FIND THREE NEW PLACES TO SELL STUFF ONLINE. E-commerce is evolving rapidly right now, and the goal is ubiquity — promoting your goods and services in as many places as possible. Are you selling on eBay but find yourself unhappy with recent changes benefiting buyers and bigger sellers? Learn how to sell on Amazon, Yahoo! and other online retail sites that still treat the mom-and-pop retailer with respect. Start listing your stuff on some of the "eBay clone" sites that many smaller eBay sellers are migrating to, such as Bonanzle, eBid, WebStore and OnlineAuction. If you sell antiques and collectibles, look for collectors' associations online; they usually have a website and will post your ads for free if you agree to become a member or write a couple of articles for them.
3. LEARN THE MEANING OF "MARKETAINMENT." As people are increasingly bombarded with media 24/7 and as their attention spans grower shorter and shorter, they expect more from you than advertising. They want a show! And you have to provide it for them. Whenever you're selling anything, online or otherwise, realize that you're in show business. Your message must be memorable, entertaining and fun in order to stick in people's heads. Create a blog and post it on your website. Create a crazy, offbeat instructional video and post it on YouTube. Get involved in discussion forums on eBay and Craigslist — heck, anywhere there are people who share your interests, passions or personality. If people like you, they'll want to know more about you and what you do. Show people with whom you share their fears and passions (the things turn them on or help them sleep better at night), and they'll like you. Oh, and don't forget to talk about the stuff you're selling online that will either turn them on or help them sleep better at night. 4. LOOSEN UP YOUR VOCAL CORDS. One of the best ways to distinguish yourself from your competition, especially if you're a consultant or professional, is to become the local expert in your field. Volunteer to speak at local business luncheon meetings. Teach a course at a nearby community college. If you run a butcher shop, call your local cable TV news show and volunteer to do a segment on what to do with your holiday turkey leftovers. People love that stuff, and news reporters love it when you make their life easier by suggesting story ideas. However you do it, get out in front of your marketplace and let them see you. Not only will you build your self-confidence as a public speaker, but you'll also get tons of free publicity for your business. Remember to be entertaining and memorable. Finally, have a local musician record your presentation, break it down into segments by topic, and put the segments up on your website as downloadable podcasts. More next week ... Cliff Ennico (crennico@gmail.com) is a syndicated columnist, author and former host of the PBS television series "Money Hunt." This column is no substitute for legal, tax or financial advice, which can be furnished only by a qualified professional licensed in your state. To find out more about Cliff Ennico and other Creators Syndicate writers and cartoonists, visit our Web page at www.creators.com. COPYRIGHT 2011 CLIFFORD R. ENNICO DISTRIBUTED BY CREATORS.COM
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