Shocker: People Do Not Read What They Share on Social Media |  |
- Shocker: People Do Not Read What They Share on Social Media
- 3 Tips for Enterprising Young Entrepreneurs
- 10 Budget Conscious Marketing Tips from Our #BrotherBackToBiz Chat Party
- Cantwell Replacing Landrieu as Chair of Senate Small Business Committee
- Has the Recovery in Small Business Lending Stalled?
- Entrepreneur Gary Vaynerchuk: From Personal Brand to VC Investor
| Shocker: People Do Not Read What They Share on Social Media Posted: 17 Feb 2014 02:30 PM PST
It all started with a live Twitter debate between movers and shakers in the online content field. Participants included people like Joseph Weisenthal, Executive Editor of Business Insider; Matt Yglesias, who covers economics for Slate and Felix Salmon, finance blogger at Reuters. The topic was Upworthy, the sites content has become wildly popular and viral on Facebook. Then, in the middle of the debate, Tony Haile, CEO of Chartbeat tweeted this: As a result, Haile’s remark went a little viral in its own right. Haile’s company measures real-time traffic on sites like Upworthy, so his announcement did carry considerable weight. If you run a blog or other site featuring regularly updated content, you probably assume social sharing is one of the best ways to get more people to read that content. So it’s a bit shocking to find that might not be the case. But that’s not where the story ends. Sites like Upworthy and Buzzfeed have found that, yes, some people share without fully reading the article. But if someone actually does read to the end of a piece, they’re more likely to share on social media, The Verge reports. So that effectively means there are two kinds of social sharers. There are those who share without finishing the article. And there are those who share because they really read and consumed the entire article. Here at Small Business Trends, we find yet another wrinkle. We find there is often not a correlation between sharing and reading the article. That’s simply because those who consume an article may not be that active on social media. That is especially true with “serious” business topics. Some of the most popular articles here on Small Business Trends have surprisingly few social shares. Yet, some of the most highly shared articles haven’t been read nearly as much. Lesson: You can’t always tell from the number of shares. Shocked Photo via Shutterstock The post Shocker: People Do Not Read What They Share on Social Media appeared first on Small Business Trends. |
| 3 Tips for Enterprising Young Entrepreneurs Posted: 17 Feb 2014 12:30 PM PST
If you're a young entrepreneur interested in getting a head start on your business ventures, there are some special considerations to keep in mind. Given that you may not have much of a credit history, it may be challenging to secure financing. With a lack of business experience, you may have to work harder to be taken seriously. But success is still possible. Below are a few tips to help you on that path. Tips for Young Entrepreneurs1. Build a Solid Financial FoundationStarting up and staying in business requires a good financial foundation and plan. And low credit scores appear to remain one of the biggest obstacles young folks face when it comes to funding their businesses:
The article referenced there also provides insight about developing your finance strategy. There are a few other financing options you can consider such as crowdfunding, peer-to-peer lending and borrowing from friends or family. Each option has pros and cons, but it's worth checking into the potential of various approaches to determine what might be a good fit for your business. 2. Find a MentorYou may feel a little lost or overwhelmed as you try to navigate the business world, especially starting out. A mentor can be an invaluable asset to help you along your way. Whether it's a former boss, someone in your business network or knowledgeable family friend, find a mentor who has experience in your field and has walked in your shoes before. You'll benefit from expert advice, network expansion and more – and you'll have nothing to lose! 3. Be Passionate and Stay CommittedFor your business to succeed, you've got to stay committed – fight the good fight for what you're passionate about, and be prepared for a tough road. But your dedication can go a long way not only for you personally, but also make a positive impression on others who may eventually support your business. Face the reality that you'll be putting in more than the typical 9-5 hours. Treat adversity as a learning experience. The more you grow in your knowledge of your business and industry, the better off you'll be in the long run. Take advantage of free or low-cost workshops available locally or through online webinars. Starting a business as a young entrepreneur presents a unique set of challenges, but with the resources available through sites like this and others, you're also presented with excellent guidance to help you achieve success. Entrepreneur Photo via Shutterstock The post 3 Tips for Enterprising Young Entrepreneurs appeared first on Small Business Trends. |
| 10 Budget Conscious Marketing Tips from Our #BrotherBackToBiz Chat Party Posted: 17 Feb 2014 10:00 AM PST
Last week we hosted the #BrotherBackToBiz Chat Party with the theme of branding and creating great marketing materials on a budget. It was a great opportunity for networking and the sharing of tips we’re hoping every small business will find useful. In fact, we had so many great suggestions from our small business community, we thought we’d share some of the best ones with readers who couldn’t attend. Below are 10 tips from our Twitter chat party that should help with your branding and marketing needs without breaking the bank. Branding1. Put your logo on all your products. And don’t stop there. Include any other information that makes it easy for perspective customers to learn more about you and how to do business with you. 2. Try branding your mobile hotspot. This can be an easy and inexpensive way to identify your brand with everything you do online. 3. Build credibility into your brand. The more credibility your brand has with your intended customers and community, the less difficult your marketing job will be. 4. Let satisfied customers tell your story. Others are more likely to take note of stories from those who have tried and can vouch for your products or services. 5. Focus on the right people. Worry less about convincing those who don’t yet know about your business and more on those who already love what you do. Marketing6. Keep things simple. When marketing on a budget, it’s important to focus on only what’s important. Include the bare minimum on your business cards, for example, to make sure you communicate clearly. 7. Never forget about DIY options. DIY may get a bum rap as being less than professional. So be sure you understand what this approach is really all about. 8. Team up with others like you. Other small businesses may be able to help you and you may be able to help them in ways you don’t suspect. 9. Use your limited marketing resources effectively. This includes getting every bit of mileage you can out of all the marketing materials you create. 10. Stay organized to stay productive. This doesn’t just mean making lists of what you plan to accomplish. It also means keeping record of what you get done to keep yourself accountable. Our #BrotherBackToBiz chat party recognizes the Brother CreativeCenter Back to Business contest currently going on at our sister site BizSugar.com. There’s still time to enter for your chance to win. The contest runs through March 19 and is sponsored by Brother. For more information on how to participate, visit the Brother CreativeCenter “Back to Business” Contest page. Chat Photo via Shutterstock The post 10 Budget Conscious Marketing Tips from Our #BrotherBackToBiz Chat Party appeared first on Small Business Trends. |
| Cantwell Replacing Landrieu as Chair of Senate Small Business Committee Posted: 17 Feb 2014 07:30 AM PST
It’s a transition time for small business representation on Capitol Hill. U.S. Sen. Mary Landrieu (D-La.) spent her last official day last week as chair of the U.S. Senate Committee on Small Business and Entrepreneurship holding a confirmation hearing for newly nominated SBA administrator Maria Contreras-Sweet. She was expected to officially hand over the gavel for the committee to U.S. Sen. Maria Cantwell (D-Wash.) by week’s end. Landrieu was named chair of the committee in December 2008, at the height of the Great Recession. As Landrieu exits, she can reflect on some major highlights during her time as chair. According to her website, Landrieu was instrumental in clearing up to $16 billion in loans for small businesses through the American Reinvestment and Recovery Act. She says this created or saved thousands of jobs among small businesses by opening up lines of credit. The provisions included in the American Reinvestment and Recovery Act were designed to reduce fees on Small Business Administration loans and to increase the SBA loan guarantee on 7(a) loans to 90 percent. Additionally, the SBA 504 Debt Refinance Program allowed small businesses to refinance while locking in long-term mortgages at lower rates. The program was not renewed in 2012. Landrieu also says the secondary market for loans to small businesses has opened up during the last four years. And small businesses are now more competitive in gaining federal contracts. In a 2010 editorial for the Washington Post, she explained the importance of having more small businesses bid for government contracts:
Under Landrieu’s leadership, the Senate Small Business Committee also worked to open up trade opportunities for small businesses.
That’s where Cantwell, who will assume leadership of the committee now, says she would like to start her efforts. Cantwell hopes to renew the SBA 504 refinancing program and also continue the State Trade and Export Promotion (STEP) program. She said this program has helped small businesses in her home state of Washington compete in a global economy. The Washington Senator said during the nomination hearing:
Cantwell was an executive at a tech startup for five years between stints in Washington. According to a Seattle Post profile, Cantwell returned to her native Washington after leaving Congress in 1994 and accepted a job with RealNetworks. The company has become famous for developing streaming digital video and audio solutions, most notably RealPlayer. Images: United States Senate Committee Channel The post Cantwell Replacing Landrieu as Chair of Senate Small Business Committee appeared first on Small Business Trends. |
| Has the Recovery in Small Business Lending Stalled? Posted: 17 Feb 2014 05:00 AM PST
From May 2009 to October 2013 the Thomson Reuters/PayNet Small Business Lending Index rose 78 percent. But, in November 2013, the index dropped 5.4 percent. Does the recent decline indicate an end to the recovery in small business credit? The data suggest not. The recent drop probably reflects the index’s volatility. As the figure above shows, smoothing out the measure's volatility with a one-quarter moving average (shown by the thin black line) suggests only a slight moderating of the upward trend that began in late 2009. Other sources also fail to suggest a fundamental change in small business credit conditions. The most recent National Federation of Independent Business (NFIB) survey of its members revealed no change in small business owners' expectations about the difficulty of accessing future credit. Similarly, the Gallup/Wells Fargo Small Business Survey revealed no change between the third and fourth quarters in the fraction of business owners who expected credit to become more difficult to obtain over the the next 12 months, and an increase of two percentage points in the fraction who expected it to get easier. The number of small business owners reporting difficulty getting credit has not increased substantially in recent months. While the fraction of NFIB survey respondents who said that loans were more difficult to get was one percentage point higher in December than in November, the most recent number was also two percentage points lower than in December of 2012. Moreover, thirty-two percent of small business owners reported that all of their credit needs were satisfied, a number unchanged from the previous month, and up three percentage points from a year earlier. Only four percent of small business owners revealed that their credit needs were not met, the same as the previous month and down two percentage points from a year earlier. Finally, only two percent of small business owners told the NFIB that borrowing was their top problem. Responses to the Gallup/Wells Fargo Small Business Survey tell the same story. In the fourth quarter of 2013, the fraction of owners that reported difficulty getting credit over the previous 12 months was 6 percentage points lower than a year earlier, while the fraction reported ease increased by 4 percentage points. While the trend toward improvement in small business credit markets doesn't appear to have stopped, conditions remain very different than they were before the Great Recession. Fewer small businesses are borrowing than once did. The 30 percent of small business owners reporting in December that they borrow regularly was only two percentage points higher than the record low, and a far cry from the 37 percent that borrowed regularly in April 2007. Banks are a far less common source of small business credit than they were before the economy turned south. According to data from the Federal Deposit Insurance Corporation, the value of outstanding commercial and industrial bank loans of less than $1 million was an inflation-adjusted 21.4 percent lower in June 2013 than in June 2007. And the number of loans was down 2 percent. Small business loans also are more likely to be secured by collateral now than before. Federal Reserve Survey of Terms of Business Lending shows that 84 percent of the value of loans under $100,000 was secured in 2007. In 2013, that fraction had risen to 90 percent. While the recent recovery in small business lending does not appear to have ended, small business credit conditions remain very different than before the financial crisis and Great Recession. Neither of those patterns is likely to change soon. Image Source: Created from data from the Thomson Reuters/PayNet Small Business Lending Index The post Has the Recovery in Small Business Lending Stalled? appeared first on Small Business Trends. |
| Entrepreneur Gary Vaynerchuk: From Personal Brand to VC Investor Posted: 17 Feb 2014 02:30 AM PST
Gary Vaynerchuk, the entrepreneur who launched his career from his family’s liquor store, has started a $25 million seed investment fund along with RSE Ventures. ReCode reports that the fund “will focus on operating and incubating startups in what he is calling the Vayner/RSE joint fund. He said that as part of the transaction, RSE will become a minority shareholder of VaynerMedia, his digital media company that focuses on helping large corporations with their Internet strategy.” The fund also is backed by Miami Dolphins owner Stephen Ross. The new fund reflects a partnership between Vaynerchuk and RSE Ventures co-founder Matt Higgins. Their investment focus seems to be wide ranging. He told VentureBeat, “We're looking at SaaS, brand stuff, and the cross-section of sports and business.” The new fund is called Vayner RSE. Vaynerchuk (known online as “GaryVee”) founded Wine Library and VaynerMedia, his social media agency. He is also the author of three books, including Crush It and The Thank You Economy. He is already an angel investor and advisor to a number of startups, such as Tumblr, RebelMouse and Adapt.ly. (For more of Vaynerchuk’s investments, and see his website.) However, in his interview at VentureBeat he said there is “no more angel investing in my life.” Vaynerchuk used video and other social media to build a personal brand. But where many entrepreneurs who build personal brands are delighted to be authors and speakers at the apex of their careers, Vaynerchuk has used his visibility to catapult into new roles. These days, call him Gary Vaynerchuk, investor. Image of Gary Vaynerchuk: Wikipedia The post Entrepreneur Gary Vaynerchuk: From Personal Brand to VC Investor appeared first on Small Business Trends. |
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