All Posts Tagged With: "business plan"
Facebook continues to beat Twitter about its social networking head
Jennifer McClelland | RSS | Wed, Oct 14 2009 | 0 Comments
Marketing is so much fun. When you try to keep ahead of the game in marketing you really have to pay attention to where the people are. Facebook is where the people are and it is really showing.
Over the summer the gap between users of Facebook and users of Twitter increased by 25 million people. There are roughly 21 million people using Twitter and close to 96 million people using Facebook according to comScore’s records.
The only problem with comScore’s number is that it doesn’t take into account the people who use Twitter without logging into the site. It is expected that nearly half of its users get into Twitter this way; through programs on their phones or programs on their computers like TweetDeck.
I think that Facebook just has the better business plan for the long run. Then again, most of you who have been reading this site for awhile know how I feel about Facebook. I feel as though people like Facebook on a more personal level because they really enjoy being able to connect with people who they have lost touch with; or they are simply nosy and want to know what is going on in the lives of acquaintances (or those same people they have lost touch with).
Twitter is being used to market things through promotions and customer service more than anything else it seems. While on Facebook, a company can create a page where people can become a “fan” of (kind of like following on Twitter). The difference is, on Facebook, the people who are friends with someone who is “a fan” of a company will see that company in their “suggestions” box from time to time. When someone becomes a fan of something, their friends are typically notified through the news feed.
It’s a great marketing tool if you can get enough people interested and to become a fan.
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Tags: marketing tool, Twitter, better business
Tips To Start And Maintain A Small Business
Jennifer McClelland | RSS | Mon, Oct 12 2009 | 0 Comments
Starting as small business can be difficult and time consuming. Here are a few tips to help the process go smoother:
Save up as much money as possible before starting.
It is too often that people go into a business without any form of savings and only borrow money from banks, friends, and the small business association. No business needs to start out in debt. Many think that they can just simply start a business and begin making money, but it usually takes months or years to actually profit from a business. The last thing that you want to do is take out a home equity line of credit to fund your business because that is the best way to lose your house if things were to go south for your business.
Start on a shoestring.
Start small. You shouldn’t just rent a building or office space to work at and begin hiring employees. If you look at the first tip and have already made that mistake, then don’t make this one. You can only have employees once you have enough work to keep them business. Some people who start their businesses small start in their homes. Many even take losses on what they pay themselves to get the business off the ground.
Protect your personal assets.
You have to be able to protect whats yours when it come to your business. When you start your own business, you become liable for all the debts that your business incurs, including loans, money owed to suppliers, taxes, etc. The problem is, if you aren’t careful and don’t protect yourself, a creditor may be able to come after you and your personal assets.
The best way to protect yourself, especially if you plan on running up big debts, is to form a corporation or a limited liability company. It isn’t much more difficult than forming any kind of sole proprietorship and protects your personal assets.
Make a business plan, no matter how short.
You need to be able to have a long term business plan, you really need to know where the business is going and how it plans to get there, at least how it does it in your mind. You can obviously tinker around with your business idea every now and again, especially when the environment changes or you begin making or losing money, but the core business plan should be there…in writing…from the start.
Get and keep a competitive edge.
I think that if you have a great product, then with a bit of marketing and money behind it, people will buy it. However, if your product or service isn’t competitive, it will be very hard to play “catch-up” with the players already in the field. I call this a “chase” strategy in marketing and it doesn’t often end too well. You really need to have that competitive edge against those who are entering the market or are already in the market if you want to succeed.
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Tags: own business, term business, business plan
