The goWholesale Blog

Make Sure You Recharge Your Batteries This Summer

July 16th, 2008

Summer is halfway over and if you haven’t taken a vacation yet, you better get going! As one of our expert contributers, Steve Strauss, highlights below, it’s a must for any entrepreneur.

Q: Steve – I would like to get away with my family this summer, but I just don’t see how I can do it. I own a one-man business and when I don’t work, I don’t get paid. What can I do if I can’t afford to get away?

Tony

A: Amigo, I hate to sound like a cliché, but you can’t afford not to get away.

If you are like most of us, you went into business for yourself because

You wanted more freedom, or
You wanted a better boss or work situation, or
You wanted more creativity at work, or
All of the above

I once worked for a law firm that, I thought originally, was quite generous with their time-off policy: Three paid weeks a year. Woo-hoo! But it was only after I started that I “got” the fine print. I was allowed the time off, sure, but only if I still billed my requisite 90 hours for the time I was gone. I got three weeks of, but only if I worked an extra three weeks later in the year.

Man, I hated that job.

So, if you are the boss now, be a good one. Give yourself a break. Even better, give yourself a long break. You deserve it. And you are not alone, according a recent American Express Open survey, almost 2/3 of all small business owners are going to take a week off this summer.

Here’s how the solopreneur can do it too:

Plan ahead: This can mean many things:

Saving up enough money so you can get away without it being stressful
Telling clients and customers that you will be gone
Making a list of essential things that you normally do that must be done while you are gone, and then

Hiring a temp or virtual assistant: If in fact you cannot get away without closing the office or shop, then consider hiring part-time help, a temp, or a virtual assistant who can man the essential functions while you are gone.

No, they cannot do everything you do, but you just might be surprised how much they can do. The key is proper training, and good communication. Consider having a pow-wow every few days over the phone. In the meantime,

Turn the Blackberry off : It’s a blasphemous thought, I know. But the point of getting away is to get away. Constantly checking emails and making calls not only defeats the purpose, it ticks off people who you are supposed to be relaxing with.

Call and check in a bit, sure, but there is no need to do it constantly. That same AmEx survey found that 81% of small business owners intend to check in with their business either by phone or email while on vacation. (Note:19% will not check in at all!)

Get more done early : Get extra work done before you go. By getting ahead, you make getting away much more doable.

Schedule extra time when you get back: Don’t tell everyone you will be back in the office Tuesday, tell them Thursday. Then, when you get back in Tuesday you can have a few days of uninterrupted time to catch up.

Combine business and pleasure: If getting away from it all still seems too difficult, consider making a business trip a family trip. It will save you money, allow you to still work a bit, but also have some needed R&R.

Have more 3 days weekends: Finally, if a week away is not your thing, for whatever reason, then this is the time of year to have more long weekends. You will rejuvenate your batteries, yet still get work done.

Today’s Tip : If business with your traditional customers is slowing down, then guess what? It may be time to investigate areas and customers that can be more productive and profitable, and begin to target those.

Steven D. Strauss is one of the world’s leading small business experts. His latest book is the Small Business Bible . A lawyer, author , and public speaker, Steve has spoken around the world about entrepreneurship, including at the United Nations, and he has been on CNN, CNBC, MSNBC, The O’Reilly Factor, and many other television and radio shows. If you would like Steve to speak to your group, help your business grow, or if you would like to sign up for his free newsletter , “Small Business Success Secrets! ” please visit his website – www.MrAllBiz.com .

Posted in Starting a Business | No Comments »

Humanizing Your Website

July 9th, 2008

One of the biggest problems online marketers face is grabbing the attention of surfers. The second is building instant trust between the surfer and the website. The latter sounds practically impossible but new technology has once again prevailed and brought us one step closer to the goal.

Perhaps you’ve seen it and perhaps you haven’t. Regardless, it’s making a splash in the online advertising/marketing community. What is it? (drum roll please…)

Moving media.

The principle is to place a "live host" on your website that will greet your customers and personally introduce your site and company. The humanized video makes for a far more personalized feel to your site and establishes a sense of trust worthiness and credibility. Many large companies are jumping on the bandwagon and from everything I’ve heard, people seem to think it’s a pretty cool thing.

Two companies appear to have the market cornered on creating and delivering this service. Rovion and Webouts offer the same things essentially however, Webouts appears to be different in that their video person can enter from any direction on your website while Rovion’s are apparently stationary.

The companies allow you to produce your own creative but also have their own teams that can work with you to produce the desired result. The clips can be up to 30 seconds long and Rovion’s starting price for a small campaign is $2,500.

Check out Rovion and Webouts for examples and more information.

Posted in E-Commerce and E-Business, Marketing Your Business | No Comments »

What to do if your supplier goes out of business

July 8th, 2008

Well hopefully you don’t have one single supplier! If one of your major suppliers does in fact notify you that they are closing their doors, there’s no need to panic. Simply contact your other supplier(s) and speak with them about the possibility of you moving more business their way. Determine if they can handle the new demand and talk about pricing options with them (as they may offer a discount for more business). Also remember to contact the supplier that is going out of business and ask if they have any products that they can still supply you. If they do, you might be able to get a "going out of business" price on the items.

In the event that you have paid for items that have yet to be shipped when the notification of the closing comes, DEFINITELY contact the supplier to figure out if you will be receiving the products you paid for. If not, ask about taking other products up to the equivalent value you’ve already paid. You may have to enter into court proceedings but this of course is highly undesirable as it will likely cost you more to hire a lawyer and pay court fees. Try to work something out directly with the supplier but if this does not work, make sure you consult a lawyer for further action.

The best way to avoid any of this is to pay attention to clues that might indicate the supplier is in trouble. Some of these include:

*Difficulty in reaching the supplier by phone or email.

*Repeated lag in shipping timeliness and lack of product.

*Employees begin to quit and/or ask if your company is hiring.

The best plan is to always have back up suppliers. This will save you a fortune in time and money in the event that one of your major suppliers does indeed go out of business.

Posted in Product Sourcing, Starting a Business | No Comments »

Viral Marketing Gone Right…on accident…sort of.

July 7th, 2008

This video has had 3.5 million+ hits in the past month.

http://www.youtube.com/watch?v=4SqJz0NgnnE

The ad was designed to be a part of a viral marketing campaign for Gatorade. The ad was pulled however when Gatorade decided it wanted to pursue a different direction with it’s marketing campaign but somehow the video still leaked out and to Gatorade’s great fortune, they got to see just how successful the campaign might have been.

Granted, Gatorade has millions of dollars it can spend on stunt girls and fancy video editing but no amount of money can buy the phenomenal reach their video has had online. It goes to show that if your video is worth watching, people will watch it and spread it around whether they know what it’s for or not. This is the "word of mouth " marketer’s dream come true. I bet the folks at Gatorade are kicking themselves now for not attaching a bigger logo to the end of the clip!

Posted in E-Commerce and E-Business, Marketing Your Business | No Comments »

Happy 4th of July

July 3rd, 2008

HAVE A SAFE AND HAPPY FOURTH OF JULY!

Posted in General Discussion | No Comments »

Sta.rtUp.Biz: A Promising New Social Network

July 3rd, 2008

Move over Facebook. Watch out MySpace. There’s a new kid in town.

Aside from the less than convenient domain name, Sta.rtUp.Biz appears to be a social network above the rest (as far as small businesses should be concerned). With a slick and stylized presentation this social network seems to have it all. From creating your own profile and connecting with other business owners to an impressive resource offering, this site is bound to give it’s members everything they could possibly want all in one place. Their articles section traverses the top business magazines online including Fortune, BusinessWeek, and Entreprenuer. They’ve got forums, blogs and videos as well as free business tools and free advice from experts.

Check it out. And if you are a member please let us know what you think about it. Does it live up to it’s flashy presentation?

Posted in E-Commerce and E-Business, Starting a Business | 1 Comment »

Avoid these 7 mistakes when rebranding your company

July 1st, 2008

The one thing that enduring companies have in common is that they change. Not only can their products vary but also the image they project as well. Rebranding is common in the business world and quite often vital in order to succeed. Take McDonalds for example. You wouldn’t have thought that this global company would have to work too hard to sell any hamburgers but take a look at this commercial from 1985:

Now check out this one from 2003:

So as you can see, McDonalds has changed their approach from a more childlike appeal in the first commercial to actually trying to appeal to many different types of people and lifestyles. This certainly reflects the size of the company at each moment in time as well as the different markets they are trying to reach.

If you are considering rebranding here are the top mistakes marketers make according to Jessica Seid of CNNMoney.com :

1. Clinging to history. Successful rebranding means staying relevant. Remember that assumptions made when the brand was established may no longer hold true. Explore various opportunities for brand expansion, such as online advertising.

2. Thinking the brand is limited to the logo, stationery and corporate colors. Brands encompass everything from customer perception and experience to quality, look and feel, customer care, retail and web environments, the tone and voice of communications, and more.

3. Navigating without a plan. Effective rebrands rely on a creative brief to keep everyone focused as the project progresses. Include sections for an analysis, objectives, target markets, budget, timeframe, point person and methods for assessing results.

4. Not leveraging existing brand equity and goodwill. Dismissing brand equity when rebranding alienates established customers, while unnecessary overhauls can irreparably damage a brand’s perception. Consider the needs and mindset of the target market carefully before diving into the process.

5. Not walking in your customer’s shoes. Simply calling your own 800-number or receptionist may reveal challenges customers face and inform your rebranding strategy. Take the time to navigate your own website, buy your products and return something. Better yet, ask a friend or family member to do so and learn from their experiences.

6. Believing rebranding costs too much. Good thinking doesn’t have to come with a multi-million dollar payout. You can get good thinking and solid strategy from small and talented branding agencies, consultants and in-house talent. Consider university students or small firms for cost-effective results.

7. Bypassing the basics. The value of perfecting your physical environment, marketing materials, website, etc., is decreased if your customers languish on hold for inordinate amounts of time. If your invoices and contracts are written in seven-point legal jargon, the brand experience declines. Keep all customer touchpoints in mind when rebranding.

Posted in Marketing Your Business | No Comments »

Generate More Sales This 4th of July

June 30th, 2008

Last year American’s spent nearly 2.5 billion to celebrate the 4th of July. This year, the weakened economy and soaring gas prices will take the air out of those revenue sales. According to the NRF 2008 Independence Day Consumer Intentions and Actions Survey , while two-thirds of Americans will still celebrate the holiday, many will be doing so at home.

So what can you do to help cash conscientious consumers enjoy their Independence Day this year?

Offer promotions, consider doing a PRE holiday sale and there’s no better way to attract customers than giving away FREE STUFF! Like gas for example…?

Posted in Generating More Sales | No Comments »

Which Candidate is Right for Your Business?

June 17th, 2008

And then there were two.

From here on out you are going to be the brunt of a barrage of political shenanigans. Hot air and dirt is going to be flying from all directions and it’s going to be tough trying to wade through it all to get to the bottom of where McCain and Obama stand on important issues. You’re even less likely to see through the deluge to the small business issues.

So I thought I’d present (in a nutshell) where the candidates stand on the top 3 most important business matters taken directly from ResourceNation.com :

McCain:

• Healthcare – Sen. McCain is proposing incremental expansions of health insurance coverage accompanied by reduced regulations of insurance companies and a more expanded role for Health Savings Accounts (HSAs). He is also proposing an income tax exclusion aimed at providing incentives for individuals to purchase their own insurance; essentially creating a tax credit for anyone purchasing health insurance through an employer.

McCain is also strongly touting a detailed plan based primarily on cost containment and quality of care…performance of the doctors in particular. He has also proposed that small businesses, and those who are self-employed, can purchase medical insurance through qualified associations/organizations.

• Taxes – Similar to most candidates, McCain takes aim at middle income family tax cuts. He is proposing to repeal the Alternative Minimum Tax (AMT), which is paid nearly exclusively by 25 million middle class families. McCain also specifically addresses entrepreneurial tax cuts claiming that “entrepreneurs should not be taxed into submission.” McCain believes that lower taxes on income and capital gains promotes saving and channeling investment dollars into innovative, high-value uses as opposed to wasteful financial planning. McCain, similar to his Democrat counterparts, is proposing pro-innovation tax cuts, namely a ban on Internet and new cell phone taxes and a permanent R&D tax credit. Read about McCain’s tax cut plan .

• Economic Factors – McCain believes that the barriers to trade should be lowered, thus creating a more globalized mindset when it comes to trade. He wants to reduce the barriers to trade and level the playing field when it comes to global trading rules. McCain wants to increase the competitiveness of the American worker by increasing educational opportunities for all. McCain highly touts energy independence by eliminating our reliance on foreign oil. McCain has outlined a comprehensive energy security plan, which can be found here .

Obama:

• Healthcare – A similar proposal as that of Sen. Clinton in that he is proposing system-wide changes designed for covering most or all Americans. His system, like that of Clinton’s, would offer a pooling function where small businesses can ban together to get affordable health care insurance. Obama is proposing that he would exempt small businesses under 15 employees from this insurance requirement. See Obama’s full healthcare plan .

• Taxes – Obama offers several proposals targeted at small business growth and development, which include the elimination of capital gains taxes on start-up businesses. Some of his biggest tax proposals are aimed at providing a tax cut for working families; he’s calling this the “Making Work Pay” tax credit, which will completely eliminate income taxes for 10 million Americans. Many of those affected by this tax cut are employed by small business, all of whom could see a significant increase in take home pay without affecting the small business bottom line.

• Economic Factors – He is proposing to raise the minimum wage and index it to rise with inflation; this is aimed at ensuring full-time workers can make a livable wage now and ongoing. Obama also has similar plans to those of Clinton’s for increasing innovation and technology jobs. Obama does have some unique proposals including expansions of programs targeting capital to minority and under-served communities and patent reform. He has also called out specific economic help aimed at small businesses in rural areas. Read about Obama’s economic plans .

Whatever you do whether personally or professionally, make sure you make an informed decision.

Posted in In the News | No Comments »

Be a Marketing Rock Star

June 16th, 2008

When was the last time you read a business book? Last month? Last week? Yesterday? Now? (Wow, if you’re reading a book now AND reading this blog I’m personally inviting you to my house for tea and crumpets so you can teach me how to simultaneously read two things at once!) Here’s a better question. When was the last time you read a business book that was as easy as reading the latest Harry Potter? Probably can’t even remember huh?

Well my friends, I present to you one of the easiest and rewarding books out there today. It is called "Word of Mouth Marketing: How Smart Companies Get People Talking" and it’s written by one of marketing’s biggest rock stars, Andy Sernovitz .

It’s written in an incredibly conversational tone and offers seemingly "no brainer" advice on how to build your company through the sheer power of word of mouth marketing . I think the biggest word I ran into was "obfuscation" (it means to confuse, FYI). Andy combines his 18 years of experience with changes that are happening currently with the internet to paint an astonishingly simple picture of the right way to market your business.

The book is a mere 184 pages including a foreword by fellow marketing/internet compatriots Seth Godin and an afterward by Guy Kawasaki. If you don’t want to miss out on lots of free marketing for your business, be sure to check it out .