by Kelly Deis of SoundPoint Consulting
So, you have a great idea for a start-up or you want to expand your current business. You have the perfect business plan and are confident that both revenue growth and profitability are sure-fire.
Problem is, you don’t have the capital to fund the start-up or expansion. If that is the case, here are a few ways to fund your business. Which one is right for you? Continue reading
by Seth Godin
Of course everyone wants to reach the maximum audience. To be seen by millions, to maximize return on investment, to have a huge impact.
And so we fall all over ourselves to dumb it down, average it out, pleasing everyone and anyone.
You can see the problem.
When you seek to engage with everyone, you rarely delight anyone. And if you’re not the irreplaceable, essential, one-of-a-kind changemaker, you never get a chance to engage with the market.
The solution is simple but counterintuitive: Stake out the smallest market you can imagine. The smallest market that can sustain you, the smallest market you can adequately serve. This goes against everything you learned in capitalism school, but in fact, it’s the simplest way to matter.
Continue reading on Seth’s Blog…
Here’s a short video featuring Bruce Carter of Indigo Painting, produced by Laurance Price of Priceless Productions. Two local businesses owners working together.
Direct mail has faded dramatically as a way to reach out to new customers. That said, you can stand out in the recipient’s mail box if you keep things simple and do it right. Here’s an example of a postcard that might work for you, and it can be really cost effective.
If you want to give it a try, go for a 5 1/2 inch by 8 1/2 inch format with a dramatic color on one side. You can use a photo to grab people’s attention but the right “grab line” will do a better job.
A little help from Ken Sethney, volunteer business mentor at Kitsap SCORE and former marketing coach for the CEOs of mid-size companies.
I read with interest how Jeff Bezos, founder of Amazon, described his philosophy around “Day 1.”When asked what Day 2 looked like he described it as “Day 2 is stasis. Followed by irrelevance. Followed by excruciating, painful decline. Followed by death. And that’s why it is always Day 1.”
Personally, I love this approach. I mentioned it recently to a group of entrepreneurs in the Emerging Leaders class here in Seattle and it seemed to fit in perfectly with what they are working on. They have all been in business for 3 or more years and are now creating new strategic growth plans for their businesses of the future. In order to do this without all the “constraints” that experience and beliefs dictate are “true,” we have to look at it as Day 1, and then consider – what will you do differently?
Think of it like Groundhog Day. You get to keep doing it over and over again but with a different template, different knowledge, and a different environment. If you were recreating your business, what would Day 1 look like now? Who’s to say you can’t give it a try? Continue reading
You have a business, but are people talking about it?
Word-of-mouth is just as relevant today as it has ever been. When a business asks you to talk about how great they are on Facebook, Twitter, Instagram and so on, that’sword-of-mouth. When you provide good content that others can share, that is also word of mouth. Today, potential customers are more likely to pay attention to people they know and a large general following (e.g., Yelp) than if they see the same commentary in a company advertisement.
In fact, they’ll pay much more attention. The Word of Mouth Marketing Association published some research a couple years ago that found “the value of a word of mouth impression is from five to 100+ times more valuable than a paid media impression.”
You don’t have to spend all day convincing people to spread the word about your new business on social media.