Business Management ABCs has an Article Posted on the benefits of conducting an internal Business Audit:
A business audit is a measurement in time of where your business is, in terms of its performance in the following areas:
3. Marketing Strategy
4. Systems and Processes
5. Winning Teams
6. Marketing communication
Understanding where you are and where you want to be is fundamental to your business growth. It is also paramount to understand your business risks and how to eliminate them. Your business audit will bring any risks to the surface and you can then take action to remove them.
Conducting a business audit will be easier if you developed a Business Plan when starting up. Your business plan can be used as a yardstick to measure actual performance against your initial goals.
When reviewing your company’s processes and performance a proper Business Operations Manual is also very useful. Developing an Operations Manual is part of the process of Automating Your Business.
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Posted in Small Biz Management, Small Business Marketing, Starting A Business | No Comments »
Small Business Trends has an Article Posted with a link to a free .pdf download of 137 Small Business Twitter Tips submitted by their readers.
Over the course of several weeks, we accepted your tips via email, Twitter and in comments to the original post. We asked readers to simply answer one of the following 6 questions:
-Getting Started: How would you suggest other small businesses get started on Twitter?
-Smart Marketing: What’s the right way (or wrong way) to promote your business on Twitter?
-Observing Etiquette: What is your #1 Twitter etiquette tip for small business owners?
-Spreading Your Message: What is your best tip for getting re-tweeted?
-Time Management: How do you manage your time on Twitter?
-Advanced Strategies: What is your best kept secret (something not widely known) for using Twitter in business?
There are quite a few useful tips included in the list. The list is also a great introduction to the medium for those who are just getting started with Social Media (Twitter, Facebook, Tumblr, etc.).
Promotion through Social Media is just one part of developing your overall Marketing Strategy. For a good overview of the Marketing process (including a definition of the difference between Sales and Marketing functions) you can check out Our Page on Marketing and Sales.
We don’t just blog about it – we are also active on Twitter and Facebook. To follow our Social Media feeds just use the links on This Page.
Posted in Small Biz Management, Small Business Marketing, Starting A Business | 1 Comment »
Seth Godin has a Post Up discussing how all staff whose functions affect the customer experience should be involved with customer service:
Every person who does marketing, sales, product design or any other job that influences customers directly should spend at least an hour a week answering the customer service lines, using the same tools your customer service people use. Out of sight is not so good, out of mind is inexcusable.
At MyNewCompany.com we completely agree with this philosophy! We always say that “everybody works for the sales department”. All of our staff answer sales and service calls regardless of title. The only way to provide outstanding customer service is to know what your customers experience is like.
Keeping engaged with the customer experience and making your services as consistent as possible are part of the process of Automating Your Business. The Franchise Model works!!
Posted in Small Biz Management, Small Business Marketing | No Comments »
Forbes.com has an interesting Article posted listing 7 business ascensions and 7 business tumbles:
To lend some perspective, we assembled some of the most spectacular corporate ascensions and steepest tumbles across an array of industries
One of the best ways to position yourself to take full advantage of opportunities for fast growth is by Automating Your Business. This frees you up to work on business development rather than getting bogged down in the day-to-day operations of your business. MyNewCompany.com has a helpful Resource Page on this topic. Clients utilizing our Formation Services also get access to our New Corporation or New LLC Handbooks (as well as useful business forms) in the “My Account” section of our site, which contain all the information you need to set your company up properly so that you can concentrate on growing your business!
BusinessWeek.com has an Article Posted pointing out that now is a great time to be starting new advertising campaigns:
Prime-time TV slots are going for 25% less than they sold for just last year, says Steve Cox, spokesperson for the Better Business Bureau. “The playing field for TV advertising is becoming more level, and small business owners can now take advantage of steep discounts for prime slots, as well as cut rates from PR firms and productions companies,” he says.
Not only are ad rates down (not just for TV ads – radio and online advertising is also dropping in price), but new ads can be more effective because viewship is increasing:
In addition to more flexible rates, small businesses can get more bang for their ad bucks today because viewership is up, Hroncich says. “People aren’t going out as much; they’re staying home watching TV or looking at the Internet. So these venues are getting more impressions but they’re charging less money” for their ads, he says.
During a slow economy many businesses immediately reduce or eliminate advertising as a cost-cutting measure. This may seem sensible, but can actually be a missed opportunity to strengthen your market position while your competition remains stagnant.
MyNewCompany.com has a Free Tools & Resouces page, which includes a general overview and useful resources on the Sales & Marketing Process.