SMALL BUSINESS COACH
Business Blogging Basics–Part 1 What is a Blog?
The term blog is relatively new, and in large circles very unfamiliar. Blog is short for weblog, which in its most basic form is nothing more than an online journal. It’s a place where you can share your thoughts on any subject and receive feedback in the form of comments from interested readers.
However, in the business arena, a blog takes on a more formal role as a valuable business tool. Used correctly, the blog should serve as the voice of your company, openly expressing your business’ philosophies and beliefs. Your blog should also build and strengthen your relationship with your existing clients and begin creating trust with potential clients.
As you can see, the blog is a powerful way to generate additional good will for your company. The next posting will examine more closely the benefits and the dangers of blogging.
Grasshoppers v. Giants: Small Businesses Can Defeat Big Competitors
When God called His people to go into the land He had promised…the land flowing with milk and honey, they refused to go forward and take the land because they saw themselves as grasshoppers. Because they saw themselves as grasshoppers, they were afraid and believed they were unable to compete against the giants of the land. Because they refused to believe in, not only themselves, but also in the promises of their God, they were left wandering for another forty years in the wilderness. They were living day by day (what we call hand to mouth or paycheck to paycheck).
Competitors Are Your Friends
I see this same problem in modern day small businesses, in their own eyes, they see themselves as grasshoppers, unable to compete against their larger competitors. You can compete with your competition by making your “enemies” your friends. How do you do that? You find a non-competitive way to make their present, past, and potential customers and clients into your current clients. Here’s one example of how to do just that:
You run a pet store that has the exclusive right to sell one popular product. For that one product you don’t have a direct competitor, but you do have bigger “friends” who offer similar products for a cheaper price, but they find that many of their customers want the product you have and ask for it by name. If you can create a relationship with those larger stores, intentional referrals to your store for that product in exchange for intentional referrals to their grooming service. When I say “intentional referrals” I’m referring to a mail out to their client base or a poster advertising your product placed in their store and vice versa.
This is how you make your competitor your partner. This is how small business “defeats” big business and gets ahead. You can be assured that if your business is God’s plan for your life, your business will prosper far beyond what you ever dreamed or imagined.
Entrepreneur of the Year
Did your business do something that you’re exceptionally proud of in 2007? If you have fewer than 100 employees, did at least $500,000 in sales in 2007, and you own at least 51% of your business, you should consider entering Entrepreneur Magazine’s Entrepreneur of the Year contest.
You can read the contest rules and enter right there on-line. Past winners include Tony Hsieh of Zappos.com, Ron Simpson of Play and Trade, and Rob Kalin of Etsy.com (just to name a few).
Don’t think about it too long, the deadline to enter is June 30, 2008. So, go for it!
Revive Business Ideas During International Ideas Month
March is International Ideas Month. This month would be a good time to dust off those old business ideas and start planning for those ideas to succeed. Priority One has launched a new website to inspire you to do just that. Check out some of the business ideas that have made millions at entrepreneurialspirit.biz.
Ethics Awareness Month
March is Ethics Awareness Month which makes this a good time to assess the ethics of your business practices. Take some time and do that today.
How Do I Know If I Need An Employer Identification Number?
According to the IRS, you need an EIN if you:
- Started a new business
- Hired or will hire employees, including household employees
- Opened a bank account that requires an EIN for banking purposes
- Changed the legal character or ownership of your organization (for example, you incorporate a sole proprietorship or form a partnership)
- Purchased a going business
- Created a trust
- Created a pension plan as a plan administrator
- Are a foreign person and need an EIN to comply with IRS withholding regulations
- Are a withholding agent for taxes on non-wage income paid to an alien (such as an individual, a corporation, or a partnership)
- Are a state or local agency
- Are a federal government unit or agency
- Formed a corporation
- Formed a partnership
- Administer an estate formed as a result of a person’s death
- Represent an estate that operates a business after the owner’s death.