Scoop.it Digital Magazine Creation |  |
- Scoop.it Digital Magazine Creation
- The One Hit Wonder Approach Is Bad For Business
- Starting A Small Business: 7 Deadly Sins
- The Average S-Corp Owner Isn’t Rich
- Holiday Shopping Boosts Small Business Earnings by 5 Percent
| Scoop.it Digital Magazine Creation Posted: 24 Dec 2012 01:00 PM PST Scoop.it, the digital magazine creation platform, just launched a redesign of its news curation platform that aims to give users a cleaner design and easier ways to share and customize their content. This redesign seems to be aimed particularly at online businesses and professional publishers that are looking to gain more web traffic and social interactions through their content, since it opens the door for more customization and a more professional overall look. One new feature is called "Insight," which allows users to add commentary or personalize the content they post in their stream. So for instance, if a user wants to add an article or video to their topic page, they can first include a brief description or opinion piece about it so that it isn't seen as simply recycling old content. Other changes include more social integrations, allowing users to sign in with existing accounts and view their connections on other sites along with the content they post; real-time notifications and a stream of users' activity on the site; and a new user interface with larger images, better readability, and an improved publishing format. When creating an account, you can use your existing Facebook, Twitter, or LinkedIn accounts to sign in, then you can choose your interests and create tags or keywords based on the type of content you would like to see. Scoop.it then crawls through its content to find the most relevant items that you can browse and select. The photo above shows the community section of Scoop.it, showing users and their topics of interest, along with a real-time notification stream on the right. For those who use the site, the changes simply mean a more professional looking and customizable layout, with easier ways to interact with other users and share content through various social channels. But even for those who don't have an account, the changes could mean more growth for the site and thus more content discovery, which could drive traffic to small online publishers and businesses even without ever visiting Scoop.it. The site offers a basic account for free, along with a pro version for $12.99 per month and a premium business version for $79 per month, which offers more branding, analytics, and content optimization options. Scoop.it launched publicly last November, and this is the first major redesign for the site that allows anyone to curate and share online content in a digital magazine format. This redesign comes just after the site announced new integrations with SlideShare, Hootsuite and Buffer, in an effort to help users optimize their content marketing strategies through social media publishing. The post Scoop.it Digital Magazine Creation appeared first on Small Business Trends.      |
| The One Hit Wonder Approach Is Bad For Business Posted: 24 Dec 2012 11:00 AM PST
As we enjoyed song after song, album after album, a relationship formed. We began to understand what to expect from that artist. And that awareness creates a fan who organically checks out every new album and live event in their area — with a nudge, of course. There is something to be said for repeat impressions. Twelve songs in, I know what to expect from Anita Baker, the mellow side of Coltrane, and Sade. But what about the one hit wonder? Regardless of your style of music, there's probably a song that you love by an artist who only had one great moment. Well, one great moment is better than no great moment. But multiple moments is the best. When it comes to marketing your goal is to create the best moment you can as often as possible. You want to be seen, heard and remembered. In a world where money grows on trees, then you can buy the biggest ad they make, the most airtime they have, a spot on the front page of all your favorite websites and run it forever. But on the other side of never-never land there's a budget. You are a small and wise business with a marketing budget that has limits, and you don't need the biggest ad to get the best impact. Think about it, when you encounter something new — a new piece of software, a new grocery store in your city, a new law firm or simply a new way of doing something — it takes a minute for it to stick. You have to be exposed to it several times before you begin to remember on your own. Each exposure is an impression. The more impressions, the more memorable the product, company or system becomes. Effectively marketing your business works the same way. The more marketing impressions, the more memorable your business. It’s all about multiple impressions. In other words, avoid the one big ad — the one hit wonder. And purchase smaller, targeted but repeat ads instead. A large impression once a year is nothing more than a tease. Smaller, consistent impressions is the making of a relationship. Get in front of your target audience and get in front of them often. One Hit Wonder Photo via Shutterstock The post The One Hit Wonder Approach Is Bad For Business appeared first on Small Business Trends.     |
| Starting A Small Business: 7 Deadly Sins Posted: 24 Dec 2012 08:00 AM PST
Having started a few businesses in my career, and having helped thousands of small businesses launch across the country, I thought it would be useful to highlight some of the hard-won experience I've learned throughout the process. Below are 7 deadly sins for starting a small business: 1. Don't Underestimate a Business Plan If you're launching a small business and aren't planning on pitching investors, it's tempting to skip the step of writing a formal business plan. However, taking the time to write out your business plan, forecasts, and marketing strategy can be a particularly effective way to hone your vision. Your planning should center around a few essential questions:
In addition, don't overlook your exit strategy at the beginning. Do you want your children to take over the company? Do you want to sell it? It's critical to think about these questions from the start, as the building blocks of your company (such as legal structure) should vary depending on your preferred final outcome. 2. Don't Incorporate as the Wrong Business Entity Your business' legal structure affects the amount of taxes you pay, the employee benefits you can offer, the amount of paperwork you deal with, and more. In the U.S., the three most common business structures are:
All three entities protect the personal assets of the owners from the liability of the company, yet differ when it comes to tax treatment and more. Here are some common mistakes made by small business owners. You may want to consult a tax advisor or CPA on what structure would be best for your particular situation:
Of course, the biggest mistake a small business owner can make is failing to create a legal business entity at all. 3. Don't Pick Delaware or Nevada for the State of Incorporation if you Don't Live There Many business owners think they should choose among Delaware, Wyoming, or Nevada when incorporating or forming an LLC. And yes, these are popular states for incorporation in the U.S. because of low filing fees and pro-business statutes. However, these two states aren't necessarily the best choices for every business. For the small business (defined here as one with less than five shareholders), it's better to incorporate in the state where there's a physical presence, meaning where you live or have an office. Otherwise, there can be too many hassles associated with operating 'out of state.' These include:
4. Don't Underestimate the Importance of a Business Name A business begins with a name. It's the cornerstone of company identity and shapes all that follows. Think about what's important to you and your business. What's the first thing you want a customer to think about with regard to your business? For example, a young company breaking into the financial advising field may be more concerned about credibility and thus forgo the edgy, attention-grabbing name. It's smart to check that a business name is available to use before you order your business cards, as you don't want to be on the wrong end of a trademark dispute. In most cases, you don't need an attorney to check if your name is available; you can perform these easy steps on your own:
5. Don't Fall Into a Discount Trap At the beginning, too many young companies feel the pressure to heavily discount their prices in order to win business. While customer acquisition is important, attracting customers at unsustainable price levels will just result in a race to the bottom. I've learned that you're better off in the long run focusing on how to bring more value to customers, rather than simply slashing your prices. 6. Don't Go Against Your Intuition Intuition is a critical part of the decision making process, and it's just as important in business as it is in other areas of your life. Business deals depend on relationships, whether it's with partners, employees, vendors, or clients. You need to get a read on other people you're involved with – and then trust your gut (even if the numbers are telling you otherwise). 7. Don't Be Afraid to Fail Lastly, if you're scared of failing, you're probably playing it too safe as a business owner. Failure is practically a rite of passage for successful entrepreneurs. Valuable lessons can be learned through the experience…lessons which you would never learn from a business class. Soccer coach Sven-Goran Eriksson once said:
If you find yourself nervous about what might happen, think about all the opportunities and possibilities you leave behind by not ever trying. Trying (no matter what the outcome is) is your first step toward success. Young Businessman Photo via Shutterstock The post Starting A Small Business: 7 Deadly Sins appeared first on Small Business Trends.     |
| The Average S-Corp Owner Isn’t Rich Posted: 24 Dec 2012 05:00 AM PST If you are the sole owner of the average Subchapter S Corporation in manufacturing, finance and insurance, or wholesale trade, the President of the United States thinks you are rich. According to data from the Internal Revenue Service's (IRS) Statistics of Income, the average S Corp in these three industry sectors had annual net income of over $250,000 per year in 2008, the latest year data are available. S Corp Income by Industry Sector
Subchapter S Corporations differ substantially from sole proprietorships which comprise 72 percent of small companies. While the owners of sole proprietorships have unlimited liability, S Corp owners have the limited liability granted to all corporation owners. But unlike regular C Corporations, S Corps pass income through to their shareholders, avoiding "double taxation." While far from a majority of small businesses or their output, S Corps comprise 13 percent of American businesses and 18 percent of revenues and net income, according to data from the Internal Revenue Service's (IRS) Statistics of Income. Like all types of small businesses, the profitability of S Corps varies substantially by industry sector. As the table above shows, the average S Corp generated just over $173,000 in 2008. However, average net income ranged from $75,372 in other services to $546,320 in manufacturing. Interestingly, across industries, the average annual income of an S corp is not related to income as a percent of sales. Across 76 industries (not shown in the table), the correlation between the fraction of sales that net income comprises and annual net income per business is only 0.09. That means that there is virtually no relationship between the two numbers. The post The Average S-Corp Owner Isn’t Rich appeared first on Small Business Trends.     |
| Holiday Shopping Boosts Small Business Earnings by 5 Percent Posted: 24 Dec 2012 02:30 AM PST There’s good news for small businesses this holiday season. Sales are up compared with the same time last year and this despite super storm Sandy, which hurt small businesses, especially in the northeastern U.S. With one day left until Christmas, let’s look at some other news important to the small business community and some last minute tips for the holiday season. Happy HolidaysAll we want for Christmas. A report shows small business earnings for November up by 5.2 percent over last year, offsetting losses in October due to fallout from super storm Sandy. The report was compiled by MasterCard Advisors and Wells Fargo. In particular, smaller retailers showed improvement from October to November. Let’s hope December’s numbers will be equally impressive. The Washington Post Last minute gift ideas. To boost your sales in the last few hours of shopping for the Holiday season, focus on connecting with customers who support and patronize small local businesses already. There are plenty of customers like this. Just ask Dean Wildman, a Daytona Beach-area consumer who does his Christmas shopping at small businesses whenever possible. Are you targeting these potential buyers? The Daytona Beach News-Journal Spirit of the SeasonWatch out for the competition. The downside of the holiday shopping season is that some items, like Christmas trees, are easy to supply at cheaper prices and increasingly big boxes like Whole Foods are getting into the act. This post and video shows one such example of a large retail store cutting into the revenue of smaller sellers. But as the video shows, there are those who will support small businesses and there are ways to distinguish yourself from the competition. New York Post Create lifelong customers. Some holiday marketing is not about getting customers right this minute but about building customer relationships that will last a lifetime. Take the sending out of holiday cards to your clients. Hopefully you’ve already mailed these, but remember, even cards sent between Christmas and New Year make an impact. These aren’t promotional, says guest blogger Mikkie Mills, but are about building those long term relationships. Small Biz Diamonds Merry MarketingGet better holiday SEO. More customers are shopping online these days, and even those who don’t are using mobile devices to search for stores in their area to visit while they’re out shopping. So, obviously businesses with great search engine optimization, especially those promoting holiday specials, will do better with holiday shoppers. Unfortunately, this is not something your business can do at the last minute. Sites need time to rank. If you waited too long to optimize your site for the holidays this year, be sure to get an early start next holiday season. Start It Up Now Down to the last minute. Certainly some shoppers will wait until literally the last minute (try today, for example) to get their holiday shopping done. It’s too late for some of the items on this last minute Holiday marketing list, of course, but there are other tips that may work for you, even on the last shopping day before the holiday. Use some creativity and get those last few sales! SBA.gov Don’t let it end. Once the holiday season is over, there’s no reason to let your customer base dissipate or to let your sales drop off, says guest blogger Gene Sigalov of SimpleTexting.com. The best way to keep customers coming back long after the holiday and into the New Year is to use customer loyalty programs, preferably ones with active outreach via several different marketing channels. Noobpreneur The post Holiday Shopping Boosts Small Business Earnings by 5 Percent appeared first on Small Business Trends.     |
We all have our favorite songs. Some of them are by artists that had long and inspiring careers.
A small business owner's life can be a real roller coaster. There's no road map, and pitfalls lurk around every corner. While making mistakes may be a great way to learn, it's a lot better to avoid them in the first place.
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