5 Ways to Market Your Business for the Holiday Season

The holiday season is rapidly approaching and now is the time to take advantage of marketing techniques that will offer sales success in the upcoming months. In this article by SBA community moderator, K. Murray, there a few “budget-friendly” ideas to help you get started with holiday marketing for your small business.

If your small business has a presence on social media, then a contest is usually a popular way to engage your customers and remind them of the products and services you offer that would be great gift ideas. The key is to have a clever #hashtag and an incentive such as a prize or discount on your offerings. Another marketing tip is recognizing your loyal customers and taking the time to make them feel extra special. You can give them special offers, sneak previews, free shipping or secret sales. This type of marketing can result in additional business and referrals for your company.

One way to stand out from competitors is to host an open house or special event in your restaurant or store. Use this type of event to showcase holiday season gifts and allow customers to sample your holiday menus and merchandise in advance.  You should pair this event with light refreshments such as hot chocolate or apple cider to get your customers into the holiday spirit. On their way out, you can give a special offer or coupon that invites customers back to make their purchases at a discount. A great holiday idea, which was created by Illana Bercovitz who offers small business trends, is to offer helpful tips during a stressful holiday season. You should consider your industry, product, or service and how you could provide advice that makes your customer’s lives easier.  According to Ms. Bercovitz, “everyone appreciates useful advice and your customers will thank you for pushing content that makes their holidays slightly less stressful.” Remember to use an original #hashtag to maintain brand awareness across platforms such as Twitter and Facebook.

The last tip is to use a historical marketing device, email. Although some may say that it is overused, email remains an easy and inexpensive way to maintain contact with existing customers. The effective way to use email is through permission marketing which means reaching those customers who have requested emails from your business. These include existing customers and those who have expressed interest in your business.  You should also keep these tips in mind if you plan to use email to support your holiday marketing efforts:

·         Keep the e-mail short and sweet. Link directly to the content of interest so you make the process as easy as possible for your customers.

·         Clearly state the email’s intent in the subject line. For example, "A Special Offer Just for You. Thanks for Your Business in 2013.”

·         Be festive in your design. Appeal to the sights of the season with a special design for the holidays.

·         Follow online marketing rules. Don't forget that online marketing is regulated, so whatever tactics you employ be sure to follow government guidelines that apply to list management, SPAM and other guidelines.

What Do You Really Know About the Affordable Healthcare Act? Come Learn.

There is so much confusion and misinformation floating around about the Affordable Healthcare Act and its implication for individuals as well as business owners, that we want to make every effort to insure that our local business owners and managers understand it and have the opportunity to ask questions.

Register today to participate in this important workshop being offered to business owners free of charge at Winthrop University in Rock Hill.  It will help you navigate the process and understand what you need to do for yourself and your employees.

 

REGISTER HERE!

 

All Business Is Risky Business

Well, here's a painful thought for business owners ...... "When a business fails, it's the owners fault." Wow! No pressure there! That was one of hundreds of subjects presented and discussed at our America's Small Business Development Centers' annual training conference last week. New business owners are over-worked and under-capitalized; and while they are to be admired for their persistence in getting the door to their businesses open in spite of cash shortages, a business' chances of survival can be greatly enhanced by just waiting a little longer and saving a little more money either for a "cushion," or perhaps to hire someone to help right from the beginning. Business owners tend to think they can be all things: entrepreneur, manager, marketer, computer technician, etc. The fact is that most people can be only one ... maybe two ... of those things and do them well. After that, they're a danger to themselves and their employees' sense of security ... a business owner spread too thin or working in an area for which he or she isn't qualified puts everything at risk.

“How to Turn Customers into Brand Ambassadors”

In an article by Christopher Hann he states "When starting a new business it is important to know and understand your customer base". This step in entrepreneurship can lead to customer satisfaction and constancy. The article “How to Turn Customers into Brand Ambassadors” explains the importance of how communication plays a part in creating these lifetime customers. It uses examples of how companies, like Taco Bell and Crayola, met the needs of their customers through social media and took their marketing to a new level. This type of customer service sparks a new form of advertising that entrepreneurs need to generate brand ambassadors. Through the use of social media and other means, an entrepreneur can listen to consumer requests and reach out to their mass audience to spread the word of their products and services. This stimulates loyalty and engagement between your customers and your brand while rewarding customers for their support and dedication. Some companies think that it takes a lot of funds to offer something in return. However, according to marketing experts, it takes more effort to “find and activate” those consumers than money to offer them products or sales. This article sheds a light on rewarding customers and how listening has an important role in creating brand ambassadors.


Link to article: http://www.entrepreneur.com/article/226117

3rd Annual Veteran Entrepreneur Training Symposium, June 10-13, 2013

Vet Entrepreneurs Focus on Leadership and Community

Veterans Symposium Releases Action Packed Agenda

Washington, DC, May 2013 – The Federal market is shifting due to shrinking budgets, new regulations, and the changing missions of agencies. At the 3^rd Annual Veteran Entrepreneur Training Symposium (VETS2013) in Reno, Nevada, June 10-13, Vet Entrepreneurs will receive the latest news and information on how these trends will impact their business and identify ways to protect their company. 

The focus of this unique Veteran Business Development event is the extraordinary variety of educational content for Veteran small business owners to choose from to meet their needs. As such, VETS2013 offers sessions for start-up/emerging Business owners with little or no experience in Federal procurement and/or business ownership, as well as for mid-tier/mature Veteran business owners who have already broken into the Federal marketplace and are seeking knowledge to grow. Hot Topics Breakouts include:

For Start-Up Businesses

·       Introduction to Federal Contracting

·       VA Verification Financing Options for Your Small Business

·       GSA's Multiple Award Schedule Program 

Ideal for Mature Businesses

·       2014 Healthcare Reform: Are you Paying or Playing? 

·       Growth Beyond Size Standards 

·       Identity Theft: Impact on Your Company

 Breathtaking keynotes who have redefined leadership:

·       Justin Constantine, Inspirational Speaker, will discuss the value of a positive attitude, teamwork and community values in overcoming adversity.

·       Commander Kirk Lippold, USN (Ret.) tells us why integrity is key to success and how his Five Pillars of Leadership can help get the most out of your workforce.  

·       Tony Jimenez, President and CEO, MicroTech, tells his story on how he has grown his 9-year old business into a profitable quarter-billion dollar company.  

·       Andre Gudger, Director, OSBP, Office of the Under Secretary of Defense Acquisition, Technology & Logistics, shares the DoD OSBP goals and changes in DoD acquisition policies that will impact your Veteran-owned small business.   

Power Networking: VETS Connect:

One-on-One Business Sessions - Schedule face-to-face business meetings. Suppliers may request 15-minutes meetings with potential Buyers of their product or services.

Industry Networking Roundtables: Informal, interactive discussions provide you the opportunity for learning, and professional networking with your peers from around the country. Share opinions, strategies, and tactics.

Other exceptional program highlights at VETS2013 include:

·       Awards Luncheon: Celebrate the Champions of Veteran Enterprise that met or exceeded the 3% SDVOSB goal.

·       Mobile Vet Center: The Reno Mobile Vet Center joins us to provide Veterans with vital, on-the-spot treatment and resources.

2 Strategies to focus on when starting a business

If you are in business or thinking about starting your own business soon, there are two strategies you should take into consideration when thinking about how your business will be successful in this competitive business environment.

1. Differentiation Strategy – with this first strategy your main goal should be to come up with a product or service that is able to differentiate itself from your competitors. Create something that no one else offers or add a little extra something to your products or services that adds value to them that make them different.

2. Low cost Strategy – the second strategy to think about is how you can eliminate costs when developing your product or providing your services in order to charge lower prices compared to competitors. Customers are always looking for the lowest prices in town. With this strategy, you will be able to have higher profit margins that will make up for the low prices provided.

 

This is how you can use Pinterest for your business

Pinterest is a pin-based social media website where people and businesses share photos about all sorts of personal and business related things. It is a great way for businesses to engage with customers about products, services, events and much more through photographs.

The following video gives you a short explanation about this trending social media and you can use it for your small business. And note: Pinterest has a higher click through rate to websites than Facebook and Twitter put together! Check it out!

"A business is simply an idea to make other people's lives better. If you can make people’s lives a lot better, you've got a really good business." - – Sir Richard Branson

Partnerships? How do you structure them?

A lady writes to Inc Magazine asking them for business advice. She is opening an art gallery and pottery studio, but she isn’t doing it alone...she is partnering up with another artist. Is this a good idea? How do they structure the business, as a partnership or S Corporation?

You may be in the same situation if you’re thinking about starting a partnership with someone else. The following article answers the lady’s questions, and also says there are 2 very important facts you need to consider before entering into a partnership.

First, you never know what the person is like until you have worked with him/her for a couple of years; and second, the more complicated you make the partnership structure at the outset, the harder it is to get out of it if things don’t turn out the way you thought.

Take a look at what Inc Magazine advices the lady about her partnership and how to structure her business.

http://www.inc.com/magazine/201209/norm-brodsky/partnership-or-s-corporation.html?nav=featured

10 questions to ask when you are ready to hire

You are already in business and it is starting to expand, so it may be time for you to hire your first employee or maybe add another one to your team. Sometimes it may be hard to accept that you need help, and as entrepreneurs delegating different tasks to others is hard to do. You want to be in control and do it all, right? The answer to this is yes, but asking for a little help shouldn’t be scary.

However, you have to be careful with who you hire, because hiring the wrong employee can become a burden to your team and can drag everyone else down. So be smart about it and ask the right questions before you hire!

This article gives you 10 questions you should answer first to make sure you’re ready for another addition to your team, and to determine what type of employee you need to fill that open position.

The Cheesecake Factory started out as a small business too.

Most of us probably know what The Cheesecake Factory is and have probably eaten there before. Just like any other business, this company started out very small many years ago. The original recipe came from the CEO’s mom in 1940. She started making cheesecakes in her basement and did so for 25 years. After this, her son saw a potential in the business and decided to give it a shot and open their first Cheesecake Factory restaurant. Ever since they opened they have had a line out their door.


This video should be an inspiration to all of us small business owners or anyone who is looking into starting a small business. You have to start somewhere to get somewhere. Usually, businesses start out small and build their way up; and this is what The Cheesecake Factory did.

If they can do it, so can you!

3 words that will create credibility for you business

A couple days ago we posted about the 5 C’s your small business needs to succeed; once of them was credibility. An article in inc.com says how the 3 most powerful words that will make you and your business more credible are “I don’t know”. They say in their article “Admitting ignorance makes everything else you say more credible. Admitting ignorance marks you as a person who's not afraid to speak the truth, even when that truth might reflect poorly on you.”


Of course, the next thing you should say after “I don’t know,” should be something like: “I’ll do whatever it takes to find out the answer to your question and get back to you”. And then be sure to follow through and make the effort to provide them with the information needed.

Once you get back to them, they’ll realize that you care about them and their business, giving you even more credibility!

To read the full article click here.

The 5 C’s you need for your small business to succeed.

If you are thinking about opening a business or you are already in businesses, the following 5 C’s are the ones you need to focus on to be able to succeed.

• Customers
• Cash Flow
• Credit
• Credibility
• Capital

As we all know, any company would not be able to survive without customers. They are the heart of any business.

Without having a positive cash flow, your company will not be able to stay alive. It is crucial to bring in cash to the business for you to keep operating.

Having good credit will help your business and you in the future when obtaining loans, managing your cash and working with new vendors.

One of the disadvantages a small business can face is the lack of credibility the brand may have. Since you are still small and in some cases new, customers will not know much about you. Because of this, you have to work extra hard to develop brand awareness and loyalty; without it, it is hard to survive.

And lastly, having access to capital is important when you want to expand your facility, launch a new product or buy more inventory.

An article on investopedia.com explains how to you can make the most out of these 5 C’s and how to use them for your small business to succeed.

What steps to take before launching your new business/idea?

Click on the following link to watch a video on what you need to do before launching your new business or idea. This video will help you out if you are not really sure where to start.


http://www.inc.com/scott-gerber/what-to-do-before-you-launch-a-business-idea.html?nav=pop

Get your product to go VIRAL.

If you are thinking about how you can get your product to go viral, it may be easier than you think by utilizing some key elements in your marketing process.

Many products that are popular today existed 10 or even 15 years before they got noticed. Nobody knew about them because they were still in the developing phase or were just waiting to go viral. Today, many small businesses go through the same. They believe they have a great product but don’t know how to make it popular in the market.

Nadia Goodman said in a recent article on Entrepreneur.com, “You don’t need a huge advertising budget nor luck...you just need to know how to incorporate some key elements to make your product go viral.”

Read the full article here to learn what these key elements are.

Take care of your customers' needs.

People always say how customers are the lifeblood of any business......well, they are right! Many small business owners forget about this and take their customers for granted. Once the business gets rolling, many business owners focus more on profits and sales than on their customer. Remember, without customers you won’t have sales or profits.

It seems obvious that business owners should ask customers questions about the service or products being offered, but amazingly many don’t. Even more amazingly, many forget to listen to what customers have to say about their business. Customer’s’ opinions on their services or products add value to what you offer -- they are waiting there like gold for you to “mine” and use them.

Complaints are also something you shouldn’t ignore. They can provide some of your most valuable feedback, telling you what areas you need to improve on and what you can eliminate from the business that is not serving you or your customers.

So always remember, listen to your customers and don’t be afraid to ask them questions. That’s the only way you can get feedback and know what is good and bad for your business.

Social Media Marketing To Mobile

We all know that the world is changing and that people are starting to become more technology oriented and “mobile”. By mobile, I mean people using their phones or tablets to do more things than one can even imagine. Research shows that last year the time people spent via mobile checking Facebook increased 85%, Twitter 140%, Linkedin 114% and Pinterest 4,225%. This is something you as a business owner or as a potential business owner should consider when it comes to your Marketing.

The article below explains these 5 easy tips on how you can optimize your social media content for you mobile customers.

5 Tips

1. Be much more thoughtful about when you are posting.

2. Add value to the mobile experience – which differs from adding value to the desktop or laptop experience

3. Design for mobile first

4. Test different mobile platforms to understand the differences
5. Check your analytics

http://www.entrepreneur.com/article/226200

What is a QR code?

Have you already thought about getting a QR for your business? Check out ours below. Scan it to see where it takes you.

Should you ask a family member for financial funding?

Are you looking into getting some financial funding from a family member but are not sure if it is a good idea? Well, it can be challenging working with family members and even more challenging when a large amount of money is involved. You need to consider how involved the family member will be in your business and how strong a relationship you have.

Before doing anything else, create a contract, just as if you were dealing with a bank; put it in writing and spell out the terms of the loan, interest, payments, time frame, etc. Also, have a plan B in mind just in case the business fails, and make sure the family member is aware of it as well. Here are some pro and some cons for you to consider.

Pros
• More than likely they will not ask for a credit score nor perform a background check
• They may not ask for interest on the loan• If you need a favor, they may be willing to help out, unlike banks
• Possible payment flexibility
• He or she will care about the long-term success of your business...because remember, you are family!

Cons
• Relationship can be ruined
• Unwanted advice
• Family member may be demanding, even more than a bank

It’s March Madness – how can you take advantage of it in your business?

If your employees are crazy about March Madness, try to find a way to use this as a morale-builder and a chance to have fun with them.

John Mahoney, COO of a staffing firm, says “When you let people enjoy the things they love instead of trying to control them, and you trust them to do the right thing, that pays off for the company”.

Mahoney found 4 lessons companies can learn from March Madness

1. Underdogs Win

2. Working together works

3. Fun matters

4. Some moments really matter

To read more on this and see what he means by all 4 lesson click on the following link to go to his complete article.

Article

College of Business Administration - Whitton Speaker Series

Secretary of State Event



Choices in Business Structures
•March 19
•2 p.m. ~ 5 p.m.
•Whitton Auditorium, Vivian M. Carroll Hall
•Reception will begin at 5 p.m. - Macfeat House

- Choices For Legal Structures For Business
- What are my options for the leagal structure of my business?
- (LLC, S Corp, C Corp, Partnership, Sole Proprietorship)

Presented by
SC Secretary of State – Mark Hammond and
Shannon Wiley – Deputy Legal Counsel

Secretary Hammond will discuss the duties of the Secretary of State's Office as a filing entity and the different types of entity structures that file with their office. He will be discussing the form requirements for each business structure choice as well as other facts surrounding business structure choices for business owners.

How to Choose the Best Business Structure
What are the tax and debt implications?
Presented by
Joanie Winters
Attorney at Law – Winters Law Firm

This event is free and open to the regional business community
Sound exciting? Let's get you registered and we will see YOU on March 19!

REGISTER HERE

For more information or to reserve your space please contact Page Bowden, Director of External Relations for the College of Business Administration, at bowdenp@winthrop.edu or 803.323.2504

SC Secretary of State Speaking in Rock Hill on Legal Structure for Your Business

Choices For Legal Structure For Business

What are my options for the legal structure of my business ?

(LLC, S Corp, C Corp, Partnership, Sole Proprietorship)

SC Secretary of State – Mark Hammond and

Shannon Wiley – Deputy Legal Counsel

Secretary Hammond will discuss the different types of entity structures that file with their office. He will be discussing the form requirements as well as other facts surrounding each entity choice.

How to Choose the Best Business Structure

What are the tax and debt implications?

Presented by

Joanie Winters

Attorney at Law – Winters Law Firm

March 19

2 p.m. ~ 5 p.m.

Whitton Auditorium, Vivian M. Carroll Hall

on the campus of Winthrop University, College of Business Administration
Rock Hill, SC

Reception will begin at 5 p.m. at Macfeat House

This event is free and open to the regional business community

PRE-REGISTRATION REQUIRED AT http://www.eventbrite.com/event/5397197162#

The objective of the Whitton Best Practices Series, sponsored by Elaine Whitton Davis and developed in conjunction with Winthrop faculty, is to provide free or low cost access to current, state-of-the-art knowledge relevant to small business practice.

For more information or to reserve your space please contact Page Bowden, Director of External Relations for the College of Business Administration, at bowdenp@winthrop.edu or 803/323-2504



Co-Sponsors:

Get inspired and become a leader.

If your actions inspire others to dream more, learn more, do more and become more, you are a leader.

- John Quincy Adams

Marketing Mix for your Small Business

You may remember this from marketing class, but if you don’t here is an overview of the Marketing Mix and how you can apply it to your Small Business.

The Marketing Mix is synonym to the 4 Ps which are Product, Price, Place and Promotion.

Think about these 4 Ps and see how you are using each one within your business. This can be a very powerful tool for you to use in order to get your products marketed in a much more efficient way. Here are some questions you need to ask yourself about how you are using your current Marketing Mix.

Product

• What do customers expect from the product/service?
• Is the product/service satisfying customer’s needs?
• What does the product look like? Is it attractive to the customer?
• Is the size, color, etc. appealing to the customer?
• How is the product/service different from your competitors?
• Is the product/service profitable?

Price

• Is your price appropriate for the product/service?
• How is your price compared to competitors?
• Is your customer price sensitive? Will lowering prices gain you extra market share? Or will increasing the price gain you a bigger profit margin?

Place

• Where is the customer looking for your product/service?
• Are you accessing the right distribution channel?
• Where are your competitors selling their product/service?
• Are you selling online? If not, is that something you need to start doing?

Promotion

• Are you getting your marketing message across to your customers?
• Are you reaching your target market through your current advertising? If not, try new ways of getting to your customer (social media)
• How are you promoting and advertising your product/service? Is it profitable? Are you seeing results?
• What is the competition doing?

Sole Proprietorship --- Is this Popular Business Structure Right for You?

If you’re starting a business, you may be wondering how to legally structure it. Should you incorporate, become an LLC, or operate as a sole proprietor?

Over 70 percent of U.S. businesses are owned and operated by sole proprietors or sole traders.

But what does being a sole proprietor involve and is it the right structure for your small business? Here’s what you need to know about the advantages and disadvantages of being a sole proprietor.

The informaiton above is cited from an www.sba.gov  article.  To read more, follow think provided.

http://www.sba.gov/community/blogs/community-blogs/business-law-advisor/sole-proprietorship%E2%80%94-popular-business-structure

Should I use Pinterest for my business?

Have you been thinking about creating a Pinterest account for your business but you aren’t too sure what it is? Well if you haven’t yet done so, you should start thinking about creating one NOW.

Pinterest is a type of social media that allows you to say who you are through visually engaging ways. This is also a great way to create a strong brand image and reach out to new clients. Many people forget what they read, but once they see a picture, it is a lot easier for them to remember.

This is how Pinterest helps you attract new clients and make your business grow. And just a little extra incentive for you: Pinterest is said to have a higher click-through rate than Facebook and Twitter put together!

How’s that for a business incentive?! The following article gives you 10 questions you should ask yourself when creating a Pinterest account for your small business.

http://www.entrepreneur.com/article/225936

We love Small Businesses.

Behind every small business, there's a story worth knowing. All the corner shops in our towns and cities, the restaurants, cleaners, gyms, hair salons, hardware stores - these didn't come out of nowhere.
- Paul Ryan

SC Organic Growing Conference - 3/2/2013

If you are involved in any area of organic agriculture or production of natural products, you may want to consider attending the upcoming SC Organic Growing Conference in Columbia on March 2nd. Read below for more information.



Caring About Your Employees.

When starting a small business, your main objective was probably to make money and turn your investment into profit.   But employers often forget that without employees their businesses will not be able to survive. Because of this, it is very important to care and provide for your employees, both in a personal and professional way.  

Here are some ways you can keep your employees happy and make them feel like they’re an important part of the business.

·         Have an open communication structure.  Make them feel comfortable enough to come into your office with any request, feedback, or just for a friendly conversation.

·         Try to spend some quality time with them. Organizing off-site meetings or special events for your employees brings them together as a team and creates loyalty, leading to better productivity and motivation back at the workplace.  Just by doing a little something extra for your employees tells them that you care about them.  When this happens, they’ll care about you and your business too.

·         Be sure to spend some time listening to what your employees have to say, whether it is a business or personal matter. When employees know they can rely on their boss for anything, it increases employee engagement and employee retention. And you may get the bonus of having them give you a great new idea, too!

·         It gets expensive to train new employees. Take care of the ones you have so they become loyal to you and help you succeed as a company. Value your employees as if they were your customers.

·         And finally, treat them the way you want them to treat your clients when you’re not around. Having happy employees is just as important as having happy customers!    

Have you thought of having an app for your business?

 As we all know, today’s business environment is becoming more and more digital every year. We can’t live or do business without a smart phone, computer, lap top nor a tablet.

Our customers are also constantly looking for new products and services on their phones, lap tops and tablets, too; so creating a way for your business to be easily found is important.

You want your customers to be able to type your name in online and find you in less than 10 seconds; or even better, have you on their phone 24/7 with an app. What many businesses are doing today is creating an app for their customers to be able to find them and interact with them 24/7 right at their hands.

The following article will help you answer the question on whether you need to create an app for your small business or not. 

http://www.inc.com/guides/201107/deciding-whether-your-business-needs-a-mobile-app.html?nav=pop

Always dream big, but don't forget to keep your feet on the ground.

Nonprofit organizations - What are they?

Lately many people are talking about starting nonprofit organizations. But many times people don’t really understand what this means or how this type of organization/business really works.

First, and most importantly, before you can call yourself a non-profit, you must have a tax designation as a 502©3 through the federal government.  There is a charge to file for that designation, and forms to be completed. 

You must also have an active Board of Directors that will meet at designated times throughout the year and make decisions as needed.  You may wish to be the Executive Director of the non-profit, but know that in that capacity you actually serve at the pleasure of your Board members.  If they find you are not sticking to the organization’s mission and vision, or that you are negligent with the necessary paperwork, your Board members can vote to fire you.  

Learn what the laws and regulations require you to do, and know that you will be expected to keep very accurate financial records as well as records showing the numbers and demographics of people you serve.  Keep in mind that non-profits must be very accountable for all monies received – you cannot make arbitrary decisions about how money is spent or given out.  You must work within the stated framework of your Mission Statement. 

The money that the company earns is used to achieve the organization’s goals and reinvest it into the organization instead of distributing it as profits or dividends to its shareholders.  While there can be paid employees, most non-profits depend heavily on volunteers to get their work done. There are many steps to take when starting a nonprofit organization including researching the industry and determining if there are other nonprofit organization in the area that do the same as you do. 

Granting foundations and organizations today are strongly suggesting that instead of starting new non-profits that mirror services provided by others in your area, you find a way to work together.   

Go to the IRS website at http://www.irs.gov/Charities-&-Non-Profits/Application-for-Recognition-of-Exemption to apply for a 501©3 designation, once you have determined if this is the way to go for you.

Theories on how to motivate your employees.

Since the dawn of management, managers everywhere have been faced with the same problem: How to maximize job performance and keep employees happy at the same time.  The following three theories have stood the test of time and are considered by many to be expert.  As a business manager or owner, this information may help you improve your own management style.

Maslow’s Hierarchy of Needs:  Maslow theorized that some needs must be met before others.  For instance:  A person in danger will seek to get out of the immediate danger before worrying about avoiding dangers in the future.  As a manager, it pays to  understand which needs your employees must have met before they can reach the highest level of Maslow’s Hierarchy (which happens to also provide the highest level of job performance). 

Maslow's Theory

Herzberg’s Two Factor: Herzberg believe that job satisfaction (high job satisfaction has been show to lead to high job performance) could be broken down into two parts, job dissatisfaction and job satisfaction.  Job dissatisfaction deals with is determined by “Hygiene” factors.  Hygiene factors relate to the environment of the work place.  A clean, safe, and comfortable work place leads to no job dissatisfaction.   Job satisfaction relates to “Motivators”.  Motivators relate to the specific person.  If a manager praises an employee’s performance in front of other employees, the praised employee will feel good about his work and will strive to work harder in the future.  Herzburg placed a higher value on meeting Hygiene factors before Motivator factors.

Herzberg Theory

Equity Theory:  Adam felt that employees’ rewards (pay, bonuses, etc.) should be based on employees “Inputs” to the company.  If two employees’ Inputs are (relatively) the same, they deserve to receive (relatively) the same outcomes.  If the rewards or outcomes are different, the lower compensated employee will become dissatisfied with the situation and adjust his effort (input) downward until he feels that his inputs equal his outcomes.  According to Adam, managers must keep the balance for all employees to avoid mass job dissatisfaction.

 Equity Theory

A Good Credit Score for Your Small Business

Paul Shread posted an article on the Time Magazine online edition a few days ago.  It was very informative and could be beneficial in helping you build good credit for your small business. In today’s environment, it is so important to have good credit  … actually, you don’t have another choice...you MUST have good creditto start a business or to get any extra financing you may need for your existing business.

Note the following quotes from Mr. Shread, which he adapted from 5 Tips for Building Good Business Credit by Pedro Hernandez at Small Business Computing.

“At some point you may need to borrow money to fund your growth. When that day comes, you’ll want to make sure that your business has a good credit rating.To shore up your business credit rating, start by separating your personal and business finances. Stop putting business expenses on your personal credit card, and stop paying for equipment and supplies out of your personal accounts. If you must put more money into your business, make it an official loan with legal paperwork.”

The article also suggests that you register your business as a separate legal entity, as banks typically require a tax or employer identification number from the IRS before allowing you to open any type of business account or line of credit. 

“Next, apply and get approved for a small business credit card or loan, and start small if you can. A history of modest debts paid off on time is an ideal start toward a bigger loan at a favorable rate.”  Following this advice and doing business with suppliers who can report your payment history to business credit-rating agencies will help you establish the good credit score you need for the future of your company.

“Finally, be sure to monitor your business credit score. A business credit monitoring service like Experian or Equifax will tell you if you’re on the right track.”

Read more: http://business.time.com/2013/02/13/building-credit-for-your-small-business/#ixzz2LNTOchSC

Business Logo

Before you start printing business cards, creating a website, designing flyers or advertising your company, you must first create your logo. Your company’s logo is what will represent you in the future, creating your “brand.” 

A logo is what people will look for when looking for your company, and recognize as representing your company as you become better known. 

You need to make sure it stands out in a good way.

Here are some examples of outstanding logos.

      Information Session      

Wednesday, February 20, 2013 1:00 PM

Local subcontractors, vendors, and businesses are invited to an Information Session for the new Graniteville Health Care Community.  Come learn about General Contractor Brasfield & Gorrie and how you can be involved in this exciting project.

Aiken Technical College Auditorium

2276 Jefferson Davis Hwy,

Graniteville, South Carolina 29829

RSVP: (678) 581-6522 or MCerqua@BrasfieldGorrie.com

How Do You Search Online?

As you make your way around the web researching information to improve your business operation, or start a new venture perhaps, how do you find it? How do you search for what you want? Do you usually find it the first time, or do you have to do multiple inquiries to find what you need?

Depending on the complexity of your questions, the answer may vary. It has been my experience however, that some of the best answers to my search questions are often not in the top search results, and frequently take two or three searches to locate, or be 2-3 pages back in the results. Why?

SEO is why. Search Engine Optimization.

In our website workshops, we stress the need to optimize your website for search engines based on the those products or services in which you specialize, and on location as well, if reaching local customers is one of your goals. You can have a beautiful, well-designed and very functional website, and still not be getting the desired results from it for your business. We liken this to (the politically incorrect and somewhat offensive) empty-headed beautiful blonde. Beautiful to look at, but no substance. A website must have substance to attract the attention of search engines, because search engines don't see beauty ..... they only collect relevant words, terms, frequency of verbiage, tie-in-links, etc., that all go into making up what we call "great content."

I myself have frequently searched for articles that are relevant to a specific subject, and had top results returned for articles that are several years old. Does that mean that no one else is writing anything on that subject today? Not at all. It just means they haven't taken the time to insure that their content is not only important to the human reader, but also to search engines. Developing content that will please both human readers and computers is the way to being found, building your customer base, and displaying your products/services to the greatest numbers of your target market. If you want your website to be found, it's OK to make it beautiful ..... but it's more important to make it intelligent with great content that will stay around and be there to send new customers your way for years to come.

Here are some ideas from the national office of the SBDC for simplifying the process of creating great content for your website.

http://asbdcbizblog.blogspot.com/2013/02/6-simple-tips-for-great-content.html

Shop local. Shop Small Businesses.

Profits before Products? Think again!

John Sculley, an Apple executive for several years, had come over from Pepsi, where he was a marketing and sales executive for the company. Because of his position he was mainly focused on profit maximization rather than on product design.  , which caused sales for Apple to slowly decline.  But why did this happen?

Many times companies focus more on profits than they do on the actual product. They focus on how to sell the product, where to sell it, who to sell it to and most importantly, how are they going to make a profit? Yes, this is actually something all companies need to think of, but sometimes focusing on the product itself first will make a difference. Steve Jobs said: “My passion has been to build an enduring company where people were motivated to make great products. Everything else was secondary.

Sure, it was great to make a profit, because that was what allowed you to make great products. But the products, not the profits, were the motivation”. In Sculley’s case, instead of focusing on creating better products and innovating, his main priority was to make money. 

What can other business owners learn from this?  Remember the saying, “Money isn’t everything.”  If that’s your only motivation, you may do well for a while, but it catches up with you.   Quality first … profit second.  That’s the way to grow a business!

Do Not Track (DNT) - what is this?

In a recent report, the Federal Trade Commission recommended that Apple, Google and other advertising networks should start allowing users the option of Do Not Track (DNT).  DNTs are programs designed to stop 3rd parties from tracking which sites you visit, how often, when you visit them, etc. 

While some feel that these tracker sites are a violation of privacy, marketing companies believe that the tracker programs are necessary for getting the right advertisements to the right people.  In response, the FTC stated that the DNT should be a privacy option. 

If DNTs were a privacy option they reasoned, people would be able to evaluate their options on an individual level and decide which is better for them. The FTC also recommended that app developers make sure they understand the ad networks fully before allowing them access to advertising in their apps. 

A link to the full report is given below. Check it out.

  http://www.scribd.com/doc/123386205/FTC-Mobile-Privacy-Report

Marion County Council invites you to attend:

MARION COUNTY

CONSTRUCTION PROJECTS

WORKSHOP

When: Tuesday, February 19, 2013

6:00 PM – 8:00 PM

Where: C.D. Joyner Auditorium

Elizabeth Street Marion, SC 29571

Attendees will…

• Learn how to become eligible to perform work or provide services for future construction projects

• Receive a list of upcoming project

• Review project budgets and scopes

• Be instructed on becoming certified as a small, woman- or minority-owned business in South Carolina

• Receive an overview of licensing requirements to perform work

• Be able to ask questions of industry experts

For more information contact Marion County Administrative Offices at 843-423-3904.

Do you use Video Marketing as a Marketing Strategy? Check out this video.

Videos, when part of a full marketing campaign, can add significant sales impact

Automation

In a day where machinery can be used to automate and eventually collapse processes, employees often fear that they will lose their jobs to machines and employers are often afraid of lowering company moral if they start using machines to automate the company. Are their fears justified?

Automation is not a bad thing, as many of the world’s largest companies will tell you. It often allows for amazing returns on investments and, more often than not, results in employees automating their way out of a job… and onto a better one.

Instead of looking at automation as one person taking on the job of three, employees and employers need to look at it as three employees able to do three times the work apiece.

Still the fear of automation remains. This article talks about more of the benefits of automating your company and how best to overcome the fear that you or employees may have.

Happy Friday!

The only place where success comes before work is in the dictionary. – Vidal Sassoon

Yelp. How to Use it.

Have you ever thought about using Yelp to rank your business? Well many potential customers are probably already searching for your business on it if they are interested in you.

Yelp is an online search and review service where customers can read comments and reviews on several businesses. It is one of the most widely used and respected review sites, so you may want to consider getting on it. It can only help you get closer to your customer by listening to what they have to say.

What if they leave a bad review or comment? Well this is a great opportunity for you to listen to your customers and learn from it, make changes and always do what it takes to keep your customers happy and coming back.

Take a look at the link below to learn more on how you can get your business ranked on Yelp.

Yelp.

Do Yo Remember These Foods?

Here’s a quick little slide show of foods you can't buy anymore, including some of those recently departed Hostess products. Sadly, the demise of a product often also signals the beginning of the demise of a company. There's a need to blame someone, and that blame is often placed on the government for not "doing something" to stop it. But the fact is that sometimes it is WE THE PEOPLE who bring on the downfall of a company, just through our changing tastes.

Sometimes too, the blame can be shared by the company that waited too long to diversify products in response to changing tastes. One way to take care of the health and longevity of your business is to be proactive in watching trends and researching new developments in your industry. We might still be able to treat ourselves to those Twinkies today, if Hostess had paid attention to the changing tastes of its customers years ago ….. Wonder Bread’s whole grain content could have been increased to become healthier ….. Twinkies and cupcakes could have been offered in smaller sizes better suited to calorie counters ……. And some of the products shown in this slide show should probably never have hit the market.

Purple ketchup? Really? Probably should have done a little more research on the need or desire for that product. Ask yourself, "How healthy is my business?" -- if you realize that it's not as healthy as you would like, act now to prepare for a future that includes offering what your customers want, not just what you want to sell.


Click here to see some “no longer available” products

Love what you do.

Featured Florence Business ... MedOne Medical Transport

Every successful business has a secret to its success ... with MedOne, that secret is simple .... compassion and good customer service!

"On time, every time!” is the slogan for MedOne Medical Transport. This isn’t just a tagline, but the core value of how MedOne views patient care.

“We hire only the best employees. People who are compassionate,” said Michael Thigpen, Chief Operating Officer of MedOne. “We don’t make patients wait. We’re gentle and take time at each stop. Sometimes it’s hard because we get attached to our patients, so to lose somebody can be difficult.”

We think you'll enjoy reading about MedOne and its beginnings .... click here to see how they've grown.

Location, location, location.

Are you thinking about opening up a business anytime soon? If you are, the first thing you should think about is where you are going to locate your business. If you are selling products or services to the public, it is extremely important to be in a great location where you can be easily found.

In a rough economy such as the one we are facing today, opening up a small business can be challenging. That’s why it is important to position your business where you have the best possible advantage for the price you can afford; and it can be as simple as the location.

To read more on tips on how to choose the right location for your business click on the following link for some great tips from the Small Business Administration

www.sba.gov

Are you willing to make it happen?

Don’t just think about one day starting your small business or getting started with that business plan... MAKE IT HAPPEN. We are here to help!

Sara Blakely has some suggestions about starting a small business:

“Most of the reason we don’t do things is because we’re afraid to fail. I just made a decision one day that I was not going to do things in my life because of fear.”

“With every obstacle that has happened to me in my life, my brain immediately says, ‘Where is the hidden blessing?’ In starting a business and growing a business, every day is learning how to manage obstacles.”

“My advice for an entrepreneur just starting out is to differentiate yourself. Why are you different? What’s important about you? Why does the customer need you?”

“You’ve got to visualize where you’re headed and be very clear about it. Take a polaroid picture of where you’re going to be in a few years.”

“Embrace what you don’t know, especially in the beginning because what you don’t know can become your greatest asset. It ensures that you will be doing things absolutely differently from everybody else.”

“Don’t solicit feedback on your product, your idea, or your business just for validation purposes. Be really careful about that. You want to tell the people that can help move your idea forward. But if you’re just looking to your friend, coworker, husband, wife, for validation, be careful. Because out of love… a lot of people will express some concerns, and it can stop a lot of multi-million dollar ideas right in their tracks.”

—Sara Blakely, Entrepreneur, Founder of Spanx

Sara Blakely is an American entrepreneur who started her own, now multi-billion dollar, business in 2000 making her one of the youngest self-made female billionaire. She is also recognized as being one of the most influential people in the world.

This article is originally from logomaker.com. To check out this website click the following link
logomaker.com