Thursday, January 31, 2013

Find the Perfect Hire by Tapping Into Social Media

Find the Perfect Hire by Tapping Into Social Media

Link to Small Business Trends

Find the Perfect Hire by Tapping Into Social Media

Posted: 30 Jan 2013 02:00 PM PST

perfect hireAre you looking to hire employees, contractors or interns this year? Take a tip from a Washington Post article on how public radio station NPR used Twitter to find employees.

When NPR's standard methods of searching for interns fell short and the organization wasn't getting enough candidates, they decided to spread the word through a Twitter campaign. The one week effort landed a flood of applications and led to hiring 15 new interns.

NPR's move made sense because the organization was looking for employees who were social media savvy. What can you learn from NPR's approach?

Here are 3 ideas:

Think Outside the Box

While we might think of LinkedIn first when we think of hiring, since that social media site is set up for business networking, and even allows you to post job openings, it's not the only way to go when using social media to find job candidates.

Match the social media network to your needs: For instance, if you're looking for a Facebook marketing expert, or someone whose job involves lots of socializing and outreach (such as a PR person), try reaching out on Facebook.

If you're looking for a graphic designer or photographer, try spreading the word on a visually oriented social site like Tumblr or Instagram.

Get Niche

Facebook, Twitter and LinkedIn aren't the only ways to go in terms of social media. Are there niche social media sites dedicated to your industry?

If so, they could be great places to post if you're looking for someone with wide expertise in your industry. Even on Facebook and LinkedIn, you can get better results by drilling down to industry oriented or skill oriented groups (such as groups for the manufacturing industry or for B2B marketers) to spread the word about your open positions.

On Twitter, create new hashtags relevant to your open positions or use existing hashtags so your tweets catch the attention of people following those topics. NPR, for instance, used a hashtag "#pubjobs" to attract people interested in public media.

Always be Recruiting

You say you have no open positions and no immediate plans to hire?

No matter. With competition for talent heating up this year, if you do find yourself short of staff, you could end up suffering in comparison with bigger companies. That's why it's important to present ongoing information about what your company does, what it's like to work for you and what kinds of people and skills you're looking for.

In addition to outright recruiting, NPR also did "soft" recruiting by using the hastag #nprlife to tweet about daily life at the office. The outreach gave potential candidates a look at what it would be like to work at the company.

You can put this kind of information on your business's website, under a heading "Working at X Corp." or similar, where you can also list open positions and contact information when you have openings.  All year long, share informal insights into what it's like to work at your business on your Facebook, LinkedIn and Twitter accounts.  Those insights could be photos from your latest staff potluck or tweets about what you're working on now.

Showing off your small business as a fun, creative and rewarding place to work will go a long way toward building interest and goodwill that leads qualified candidates to you when the time comes.

Employee Photo via Shutterstock

The post Find the Perfect Hire by Tapping Into Social Media appeared first on Small Business Trends.

17 Web-based Sketching and Painting Tools

Posted: 30 Jan 2013 12:30 PM PST

Most business owners need a graphic design tool from time to time. From sketching out a new logo, animation for a slide presentation, or to create caricatures of your crew to increase morale, these tools can help you without the added cost of traditional art software.

This post highlights 17 tools to help you draw out your ideas. Most of these are free unless otherwise noted. Most run within your web browser with just one click or two and allow you to save an image file.

Skitch from Evernote is one of my favorite tools for drawing. Skitch for iPad is the one I use and it makes a lot of sense from a tablet or smartphone. They do have versions for Windows and Mac. You can mark up a web page easily or draw something from scratch, then save to Evernote which is part of why it is popular and effective. The red arrow, pink blob, and red box are my marks, not from the elegant Evernote team!

painting sketching tools

FlashPAINT v2 lets you draw and paint online with a Flash paint tool. Click the "Paint" link in the left navigation box to get started. You are able to save your drawings (and post them to the public gallery). Provides you with a grid paper option to make drawing easier.

Gliffy allows you to create technical drawings but has the added diversity of creating flowcharts, diagrams, floor plans, Venn diagrams, and SWOT analyses. It works directly in your browser with easy to use with drag-and-drop shapes from the available library.  Works with Windows and iOS; provides online sharing and collaboration. There is a free 30-day trial with $4.95 monthly subscriptions after that.

Myoats offers an interesting drawing tool because you can create multisided figures. It only allows you to draw, but the multifaceted effects work like a kaleidoscope. Simple one-sided drawing is available as well, but the strength of this website is in its ability to replicate what you have drawn.

Pencil Madness only creates sketched drawings, but it has interesting effects including spider webbing, bubbles, the leaky ink pen, grids, squares, a water smeared line, icicles, and spindles. I found it fun to play with this application and kept doodling. I even saved a few of my masterpieces, but I'm not sharing them. See image of a much better sketch in screenshot below.

painting sketching tools

Draw Island Allows you to paint or draw. It is unique in that you can create animations with this tool, as well. However, the animation feature only currently works if you have Firefox (Mozilla) for your Web browser.

Sketchpad is solely a free online paint tool, but the effects it can create are awesome. There are stamp, wallpaper, geometric design, and fill options. Its unique color adjusting method allows you to visualize your scheme easier. It also has an option of painting in two tones.

Viscosity is a unique abstract art creation site. Like other online painting and drawing websites, you are allowed to save your work on your computer. The difference is you begin viscosity with a mixed palette, which you drag your "brush" through. This tool is a little more difficult to use effectively, but it is also extremely enjoyable.

Do Ink is a drawing and animation application that allows you to use vector-drawing tools to create your pictures. Aside from the traditional drawing tool, you also get art props that will add to the drawings you create. Do Ink is only available in a downloadable form for the iPad, iPhone, and iTouch.

Odosketch is interesting because the sketches it creates resemble pencil and watercolor. The tips of your brush create both thin lines and wide ribbons. When you select your color you can also select the width of the tip. Create your sketch free online and then save it to your hard drive or disk.

FlockDraw is an excellent choice for collaborative business drawing. It allows an unlimited number of users to participate for free. Think of a community whiteboard in an online format and you will have the essence of FlockDraw.

painting sketching tools

Artpad is an online painting tool that allows you to see the paintbrush. You can change colors, brush sizes, paint opacity, and you can even splatter paint or write on your drawing. It will let you replay your drawing and save it or any frame from the replay.

Scriblink is an online whiteboard for users to share across the Internet. Use their board on their website or it allows you to download their whiteboard to fit your website for ($9 to $29 per month). It needs Java to run and I had a few problems with it, but overall it is a solid tool.

Graffiti Plado allows you to bring the street to your art. Using spray paint on a wall texture background create your ideas and save them. Allows you to adjust color, size of the spray, strength, and even whether or not you want to see and hear the spray can while you paint.

Wixie has all the traditional paint and drawing options, but adds in three-dimensional, crayon, and stretch functions. This website also allows you to choose the texture of your fills.

Brushter is a free online painting website with a twist. Its paintbrushes all produce textured strokes. Like other painting websites, you can choose your colors, shades, and widths. You need the Adobe Shockwave Player to use it. This tool is produced by the National Gallery of Art.

Onemotion is an online painting website. It allows you to adjust brush width and color, but its unique feature is that your speed controls the width of your line.

What art program do you use to sketch out your ideas?

The post 17 Web-based Sketching and Painting Tools appeared first on Small Business Trends.

Report on the BlackBerry 10 Launch: What it Means for Small Business Productivity

Posted: 30 Jan 2013 10:11 AM PST

BlackBerry 10 launch small business productivityBlackBerry today officially launched its new BlackBerry 10 smartphone platform  in a 6-city simultaneous launch – complete with a celebrity (Alicia Keys, who has been named Global Creative Director) in attendance.

One of those launch cities is New York, and Ramon Ray, founder of SmallBizTechnology.com, attended the launch and provided this live report, including his analysis.

The promise of the BlackBerry 10 for small business productivity

  1. BlackBerry, whose company name was "Research in Motion" (RIM), has now been officially re-branded as  BlackBerry.
  2. BlackBerry has a communication hub which seamlessly integrates all your communication (email, social, calendar). Previously called Unified Inbox, it is now BlackBerry Hub.
  3. BlackBerry Flow lets you seamlessly transition between apps you are running. BRG defined it as a central ribbon which "provides a series of minimized windows on users' screens that show them all the apps they're currently running, and it lets them easily flip through them without having to return to a central home screen and clicking on separate icons."
  4. Using the BlackBerry swipe feature you can control and manage your communication, quickly, from within any other app. For example, if you get an email you can move quickly from the BlackBerry Hub to see the email.
  5. BlackBerry looks like it is now the leader in keyboarding. One of the most important things we do on our phones is type on the keyboard.  BlackBerry has some very innovative features making it much easier to type and FASTER to type, such as predictive words.
  6. The BlackBerry Messenger has also been upgraded. Users can do an instant video chat with another BlackBerry user and share their screen with another user.

BlackBerry has launched two new phones. The Z10 has a virtual touchscreen keyboard.  The BlackBerry Q10 has a physical keyboard.  (Read a review of these new phones on ABC News.)

Indeed the biggest challenges for BlackBerry are two-fold.  First, will consumers and business users buy it?  Second,  will there be enough apps on this platform?

Based on this first look, BlackBerry 10 appears fresh and innovative.

A version of the above article and image (showing BlackBerry CEO Thorsten Heins and the new BlackBerry Z10 and Q10) was originally published on Smallbiztechnology.com and is included here with permission.

The post Report on the BlackBerry 10 Launch: What it Means for Small Business Productivity appeared first on Small Business Trends.

Looking for a Google AdSense Alternative? Do Not Look to AdBrite

Posted: 30 Jan 2013 08:30 AM PST

AdBrite is ceasing operations effective February 1, 2013, reports AllThingsD.

AdBrite, an advertising network started in 2004, has long been used by online publishers as an alternative for monetizing a website, in place of Google AdSense.  Millions of small and large publishers (including this website) appreciate Google AdSense as a source of advertising revenue.  However, some publishers have been frustrated by having their accounts shut down without warning. Google last month vowed to provide publishers with a more transparent AdSense appeals process in that event.  Still, an alternative such as AdBrite was one that publishers banned by Google AdSense or simply wanting an alternative, could turn to — but no longer.

AdBrite was reported to employ 26 people, who presumably will now be out of work. The company tried to find a buyer, but talks fell through. It is now selling off assets.

AdBrite

Another sad part to these situations is that existing partners were advised by email, yet the AdBrite homepage, pictured above, has nothing on it about ceasing operations as of this writing.  We just went to the AdBrite website and were able to set up a new account. We even received the email confirmation for a new account.  When businesses shut down, the least they can do is put a notification on the websites, and not continue to accept new accounts.

So what alternatives are there to Google AdSense and AdBrite?  1 Singular Sensation lists a few AdSense alternatives.

The post Looking for a Google AdSense Alternative? Do Not Look to AdBrite appeared first on Small Business Trends.

Payvment Shuts Down Facebook E-commerce Platform

Posted: 30 Jan 2013 07:00 AM PST

E-commerce platform Payvment is shutting down its service that gives online merchants the ability to run stores from their Facebook Pages. Now, it's helping its 200,000 customers transfer their stores over to Ecwid, a competing e-commerce platform that also allows merchants to sell on Facebook and a number of other sites.

A message on the company's site stated that Payvment will be joining a new company, but offered no other details thus far. The Payvment platform will officially shut down on February 28, 2013.

payvment facebook

To ensure a smooth transition, Ecwid has setup a process that will allow sellers to keep their Facebook storefronts up without interruption. The process involves just logging into your Payvment account and clicking "Transfer your Payvment store to Ecwid." Your data will be automatically transferred into a new Ecwid account.

Once the transition is completed, you'll be automatically logged into your new Ecwid account where you can configure your online store and launch your new Facebook storefront.

Payvment specialized in finding out what Facebook users Liked and what types of items they bought. Payvment also gave merchants access to an advertising platform that helped them auto-target Facebook advertising campaigns.

Ecwid, on the other hand, works with both Facebook and other OpenSocial enabled networks. The platform allows users to manage their store from a single control panel even if they run storefronts on many different sites.

The photo above shows Ecwid's sample storefront on Facebook. Users can separate items into categories, and shoppers can simply drag and drop items into their shopping carts.

To use it, you simply sign up for an account and receive some lines of code into your website's source code. The code will allow you to include Ecwid widgets on other sites, including WordPress, Joomla, Squarespace and more. Then you just add your products to your Ecwid control panel and manage the settings of your online store. Changes will appear instantly on your Ecwid storefronts.

Ecwid offers a free plan and other plans ranging from $15 to $99 per month. The plans give users different options for number of products, bandwidth, support, and other e-commerce features.

Ecwid was founded in 2009, but the majority of the team previously worked on X-Cart, so they have been building e-commerce technology since 2000. The company is based in Encinitas, California and Ulyanovsk, Russia. The company currently has about 250,000 customers in 170 countries.

The post Payvment Shuts Down Facebook E-commerce Platform appeared first on Small Business Trends.

7 Tips for Your Business Sign or Lawn Sign

Posted: 30 Jan 2013 05:00 AM PST

business sign tipsDo you have a retail storefront?

Are you a contractor that is supplying services at someones house or place of business?

You should be using a business sign, like a sandwich board or a lawn sign, to draw in traffic or build awareness for you business. Signage is an excellent way to help generate sales leads for your company.

Below are 7 tips that will help you generate a higher percentage of sales leads:

7 Tips for Your Business Sign or Lawn Sign

Phone Number

This is just basic common sense.  But believe it or not, business owners forget to add this one important piece of information to a business sign.

So that you can track your results from any lawn signs, use a unique phone number that people can call. By doing this, you will be able to see how many leads came from that phone number. A great service for this is Toll Free Forwarding or Google Voice.

Your Address

If you have a retail establishment that you want people to go to, why not list your address on your business sign?  It should help you to drive foot traffic to your retail location.

A Strong Call To Action For An Offer

Do you want to get someone to do something? If so, you need to have a “call to action.” Basically, you need to tell people what you want them to do.

A suggestion that ties into the next 2 tips (QR Codes and Text Codes) is to have a coupon or special offer that allows you to capture an email and other relevant information.  By capturing an email, you will have the ability to continually market to someone with an email newsletter.

A QR Code

Add a QR code to your business sign that is tied to a special offer or something that a potential customer may want. The QR Code should send the person to a mobile ready landing page that has a sign up form.

Once the person signs up for your offer, they will be sent an email with a code or a coupon.  A service that I have used before is Kawya.

Text Code or SMS Code

A text code or SMS code will allow a person to text a specific keyword to and assigned short code. This may sound confusing, but in reality, all you do is find a SMS marketing provider and register a keyword. Then you will be able to start directing people to a specific landing page on your website.

I interviewed Jed Alpert, who wrote “The Mobile Marketing Revolution” and he stated that the:

“. . . response rate from adding a text code on a sign is up to 10 times greater compared to no code.”

I can confirm this as I have a client where we added a text code to a radio ad they were running and they saw a twenty-fold increase in sales leads from that spot.

Here’s one more use for a text code:  Place one on your vehicles so that people will connect with you.

For the QR code and the text code, have separate landing pages and coupons and coupon codes. You want to do this so that you can track a conversion rate.

For example, you can see how many people used your text code by the number of hits to a specific page. Then you can see how many people sign up for an offer and finally, the amount of people who redeem your coupon or offer.

Website Address

Make sure that you add your website address to your business sign. If your domain is too long, use a shortener like Bit.ly or get a separate shorter domain that redirects to your website.

Bit.ly allows you to make a vanity url and you can also track the clicks from that specific url. As a suggestion, make sure that if you have an offer on your business sign – that the Web address corresponds with that offer. Don’t just send them to your homepage as your conversion rates will be far lower by doing this.

Email Address

Create a unique email address to put on your business sign so that you can track the amount of inquiries that come in.

Add all of these tips to your business sign and you should see an increase in the amount of sales leads that you generate.  By the way, this isn’t just for signs.  Use these different tactics on business cards, letters, mailers and other printed material that you have as well.

If you have other business sign tips, please share them in the comments.

Sandwich Board Photo via Shutterstock

The post 7 Tips for Your Business Sign or Lawn Sign appeared first on Small Business Trends.

Business Brand Rocks: Ben & Jerry’s Launches New Flavor

Posted: 30 Jan 2013 02:30 AM PST

An iconic business brand rocks with the announcement of its latest product. Ben & Jerry’s, the ice cream company known for its outrageous flavors with even more outrageous names always manages to keep its products in the spotlight. See how Ben & Jerry’s handles its brilliant branding efforts and how you can do the same with any budget.

Business Brand Magic

30 Rock finale. Ben & Jerry’s will unveil its latest flavor, “30 Rock” on Thursday, just in time for the season finale of the NBC comedy series for which it was named. The tie-in between the wrap-up of a popular TV show and the launch of a flavor honoring it is perfect. Bites on Today

Second time’s the charm. This is the second time the ice cream maker has honored actor Alec Baldwin with a flavor. Ben & Jerry’s strategy has also included naming a flavor after late Grateful Dead guitarist Jerry Garcia. Pop culture references keep the company’s brand fresh and interesting. Syracuse.com

Just deserts. Not all of  Ben & Jerry’s experiments have been a success. The flavor launched last year to honor Baldwin drew criticism. The the flavor’s name was taken from a popular Saturday Night Live comedy sketch in which Baldwin participated,  considered by some to be too adult for younger audiences. FoxNews.com

Basics of Your Business Brand

Try to relate. It doesn’t matter whether it’s a witty pop culture reference or something simpler. Your business brand must be something to which your customers can relate. Janette Speyer and Katrina McNeill share an infographic and some tips about how to make your brand better. WebSuccessTeam

Boost your business. Content marketing is one of the best means on the Web to build a business brand. Tim Devaney says customers often ignore TV advertising, billboards, and printed ads. Instead they look for the information they want, when they want it. That’s where content comes in. Forbes

The perfect image. Video is one of the top branding tools for businesses large and small. Marketer Jamie Fairbairn explains the importance of maintaining a strong brand presence on video sites like YouTube. Here are some tips that will set your video page apart from competition. Social Media Today

Branding with 140 characters. Another important branding tool is Twitter, the micro-blogging social platform. Huge companies have had tremendous success boosting their brand recognition with the power of just 140 characters. Here is an infographic showing the value of a little networking with some text attached. Wishpond

The post Business Brand Rocks: Ben & Jerry’s Launches New Flavor appeared first on Small Business Trends.

Wednesday, January 30, 2013

Quora Gives Bloggers Built-In Readership

Quora Gives Bloggers Built-In Readership

Link to Small Business Trends

Quora Gives Bloggers Built-In Readership

Posted: 29 Jan 2013 11:00 AM PST

Question and answer site Quora just announced the release of a new blogging platform. Clearly there is no shortage of these around the Internet, but this one is a bit different. Quora plans to take the posts published on its platform and distribute them to users who follow certain Q&A topics.

For instance, if you decide to write about politics, then those who follow political topics on Quora's Q&A platform have the potential to see your posts in their feed.

quora

The benefit of this to bloggers is to have a built-in readership of people who are interested in your particular topic of discussion. Many entrepreneurs use blogging as a way to reach new consumers or even as a main source of income, so this new tool could provide some help when it comes to building a following, especially in the early stages. But even established bloggers or entrepreneurs could potentially use the platform to reach new people.

Quora has over 300,000 topics that fit into five categories: Business and Tech, Food and Entertainment, Politics and Social Sciences, Health and Life Advice, and Other. So within one of these general categories such as Business and Tech, there are more specific topics users can choose such as startups, science, and entrepreneurship.

So when users choose a topic or topics to follow on Quora, they'll see both Q&A posts and blog posts within their Quora feed. Users can also search particular topics to find posts that are relevant to their interests at any given time.

This is quite different from traditional blogging platforms in that you can gain an audience for your posts without having a large following personally, though users can also choose particular Quora blogs to follow.

Quora accounts are free and so is creating a blog. Upon starting a blog, you can add topics that fit your blog as a whole, and you can include other topics for each post you create. Currently, there are just two basic themes for Quora blogs so they all look fairly simple, but they include post topics, views, and followers, as shown in the photo above.

Blogs are also visible within Quora's iPhone and Android apps.

The post Quora Gives Bloggers Built-In Readership appeared first on Small Business Trends.

Obvious but Hard Lessons in Small Business Advertising

Posted: 29 Jan 2013 09:00 AM PST

small business advertisingThere are two kinds of small businesses:

1)  Those with a very specific niche, but a nation-wide target market (e.g. taxidermy services for exotic animals).

2)  Those with a broad enough scope, but a geographically limited market (e.g. an upscale bistro).

As someone who has marketed businesses in each of these categories, the lessons in this piece apply far better to the latter category then the former.

1.  Limit Advertising Efforts Geographically

No matter how tempting it is to include a few extra zip codes when sending out flyers or to increase the geographic radius of a Google Adwords campaign, to me it's never been a wise idea. Whenever designing an advertising campaign, as a small business owner, I have to constantly remind myself the real reason I am advertising is to maximize revenue and not to maximize reach.

It is far easier to maximize revenue by targeting the same 4,000 to 5,000 households in my neighborhood on a monthly basis then blowing an entire year's advertising budget by sending out flyers to nearly 200,000 households in my hometown. One approach I like to take is as follows:

  1. Establish a target revenue goal.
  2. Assuming 1% follow-through on my advertising efforts and average invoice value, establish the number of households I need to reach.
  3. Using Canada Posts' Precision Targeter Tool, figure out the radius which has enough households to reach the goals set in step 1.
  4. Reduce the radius by 50% and send-out the flyers twice a month instead of once a month.

This approach has historically yielded as much as a 40% increase in the number people who responded to my advertising.

2.  Network With Other Small Businesses

For every 5,000 households in a neighborhood, there are 50 to 100 small businesses which cater to them. It's a lot easier to touch base with the 50 to 100 small business owners & managers twice a quarter then trying to reach 5,000 to 10,000 households.

If anyone can understand your troubles and appreciate the hard work that goes into being a small business; it is another small business owner. The idea is not just to get the owner to give you business; but to get them to give out your referrals to his/her existing client base.

The referring business already has a trusted relationship with the customer. When that customer gets referred to you, almost all the goodwill and trust is already established and little effort is needed to win over the customer. Think of each small business in your neighborhood as a single node and each node has already made the effort of attracting the customers. Now all they have to do is make quick and non-aggressive referrals and some of those customers will get passed on to you.

One of the more successful campaigns I ran from my auto-shop was with a local gym. For every oil change, the customer received a no obligation 30 day trial (instead of the regular 15 day trial). However, do not expect more than 2 to 3 referrals per quarter from any small business.

3.  Measure All Advertising Efforts

The thing about marketing and advertising is that you can blow 100% of your budget and have no idea how effective it was. Therefore, it is imperative that all advertising efforts are measured. Online advertising is easy enough to measure as long as an analytics package is installed on the website. There are a number of free analytics packages including Google Analytics; although my personal preference is for Clicky Analytics, given its ease of use and heatmaps.

For offline advertising, when possible, have coupons, flyers and all advertising material printed with unique codes. If you are dropping business cards or coupons in 5 different local shops, then have a unique identifier on each of the 5 sets. This will tell you two critical things:

1) Which type of local businesses are most affective at getting you new customers.

2) Helps you narrow down your ideal target market.

Always have expiration dates on all your special offers and coupons. Not because you may be unwilling to gain a new customer with a coupon, but rather to tie in when the advertising for the special was done and how many customers responded to that advertising.

4.  It’s Easier to Retain Customers Then Get New Ones

Advertising is far more effective when you reach existing customers rather then trying to draw in new ones. This may not sound like much, but it could be one of the most powerful insights during "slow" periods. You already have all the insights for your existing customers (e.g. their age, interests, how receptive they are to your product). Best of all, you can advertise to your existing customers with next to zero cost by simply reaching them over the phone.

When you send out coupons to your existing customers, even if they don't need it, they will likely pass them along to friends and family. This principle is especially true, if you have ever advertised on Facebook, where "sponsored stories" have a 5 to 10 times higher click through rate (i.e. the number of people that click on your add) compared to an old fashioned add.

5.  Don't Market or Advertise to Friends and Family

One of the lessons I really wish I had learned in a classroom was to never advertise or sell your product to friends and family. For two reasons:

1) Friends and family meet you for a number of reasons but none of them include soliciting your business to them. Essentially, when you start making your interactions with friends and family about your business, you have taken away any reason for them to meet you.

2) No matter how big your circle of friends and family is, it is always very limited. So why spend this time and effort on such a small subset, when you could be meeting and greeting an entire neighborhood of 4000+ households at your business sponsored summer BBQ?

Easy Way Hard Way Photo via Shutterstock

The post Obvious but Hard Lessons in Small Business Advertising appeared first on Small Business Trends.

5 Tips for Buying a Franchise

Posted: 29 Jan 2013 07:00 AM PST

buying a franchiseFor those entrepreneurs itching to start their own business, purchasing a franchise can be a good alternative.

Franchising can be less risky than starting a business from scratch. The franchisor has done a lot of the work for you. The business plan is ready made; there's already strong brand name recognition, and the franchisor is often responsible for the marketing and advertising.

However, any new business is risky, even a franchise. You may get an established name and business plan, but your success is ultimately up to you.

If you are considering taking the leap to become a franchisee this year, here are five tips:

Do Your Research

Whether you identify a potential franchise opportunity from a franchise broker or franchise exposition, you alone are solely responsible for the due diligence before you invest. Start by reading the Franchise Disclosure Document (FDD) to find out important details about the franchise company, litigation and bankruptcy history, as well as your initial fees, investment, and obligations.

According to franchise expert and consultant Joel Libava, potential franchisees should:

"Make sure they find out exactly what their role will be as the Owner. Don't base it on what you see in a beautiful franchise brochure. Ask the existing franchisees what their day is like…what they do as the owner."

For Libava, it's critical to speak with other franchisees before signing on the dotted line. Ask existing franchisees about the total investment:

  • Was their investment in line with what was stated in the FDD?
  • Ask how they went about getting a loan for their franchise. Was it pretty easy, or was it challenging?

Maybe they can introduce you to their lender and you can get a similar small business loan from them. Lastly, Libava says:

"Ask every franchisee this question: Would they do it again?"

Think About Your Location

Successful restaurant and store owners will tell you it all comes down to location, location, location. One of the toughest, and most important, decisions a franchisee will make is choosing a location for their new business. Many franchisors will work closely with you to pick the perfect site, sharing insights about what particular site characteristics lead to success with their organization.

However, at the end of the day, the decision is ultimately yours. You'll need to understand your target demographic and what drives customers to this particular franchise. Then evaluate each location accordingly. Consider details like traffic patterns, parking, nearby stores, and check with the franchisor if you'll be guaranteed protected territory (i.e. no other franchise can open within a certain radius).

Focus on Service

Buying a franchise gives you a proven model and a clear-cut marketing plan to bring in new customers. However, it's up to you to define the customer experience. Employee-customer interactions can make or break any business.

Hire customer-centric staff who will go the extra mile to leave an extraordinary impression on your customers. In addition, you need to be realistic about your management experience. If you have never managed a team before, you'll need training on how to manage people effectively.

Consult a Specialist

The tax rules and contracts surrounding franchises can get quite complex. You should consult an attorney, preferably one who specializes in franchise law, to review your franchise agreement documents and identify any potential red flags.

In addition, an accountant can help you understand the full costs of purchasing and operating the business, as well as evaluate tax considerations. Given the size of the investment you'll be making, it's prudent to pay a little upfront for a professional consult.

Don't Forget About a Formal Business Structure

For franchisees, a formal business structure (like a corporation or LLC) is critical to separate your personal assets from the business. While the exact business structure you choose will ultimately depend on the specifics of your situation, many franchisees choose to become an LLC or S Corporation for more favorable tax treatment. These two entities give you the option to choose pass-through tax treatment. In this case, your business doesn't file its own taxes; any profits or losses of the business are passed through to your personal taxes.

Many franchisors prefer to sign contracts with established companies (LLC or corporation) rather than sole proprietors, so you may want to incorporate or form an LLC before you sign the franchise agreement. In most cases, you'll want to incorporate or form an LLC in the state where your business will be located (and not the state where the franchise is headquartered). While you may want an attorney to review your franchise contract and paperwork, you don't necessarily need an attorney to incorporate.

Other Resources

If you're interested in exploring a franchise opportunity, there are plenty of resources to help you get started:

Bureau of Consumer Protection: "Buying a Franchise: A Consumer Guide"

Small Business Development Center (SBDC)

International Franchise Association

World Franchising

Browse for opportunities and do your homework. Maybe this will be the year you take the reigns and become a business owner.

Franchise Concept Photo via Shutterstock

The post 5 Tips for Buying a Franchise appeared first on Small Business Trends.

4 Ways Real Estate Agents Fail at Social Media

Posted: 29 Jan 2013 05:00 AM PST

real estate agents social mediaEveryone has been told to jump into social because it is so good for their business. I know for a fact that Realtors hear it all the time. Sadly, many people don't really know how to use social effectively and they don't understand what drives different social platforms.

The people I see wasting their time, and money, the most on social is Realtors. I am not claiming all Realtors don't know what they are doing; I am just saying the majority don't and I am going to tell you why.

1) Some Realtors Don't Understand Twitter

Twitter is really about conversation and relationship building. There is a ton of information to find on Twitter and it can be powerful when it comes to influencing sales, but that is only after the person using a Twitter account took the time to build friendships and/or a community. I use Twitter to find articles that educate me, but it took time to find just the right people to provide me with the type of links I was looking for.

Twitter takes a lot of time and effort. You just don't tweet random things and walk away.

I see way too many Realtors tweeting about houses they have listed. Things like;

"Just listed…Gotta have this house."

Ummm, no I don't. I already have a house and the tweet you just shared told me nothing so I won't be sharing it with friends, FYI.

It is a massive failure to tweet only about houses a Realtor has listed and blog posts that discuss the houses they have listed. If that is all the Realtor has to say, they should avoid social completely.

2) Some Realtors Don’t Understand Facebook

Facebook is called a social network because that is what it is. People like to be "social" with other people. Facebook users do not want to be spammed with information about houses they have no intention of ever buying.

Newsflash – your friends may agree to like your page, but they can also tell Facebook to stop displaying your posts in their feed. This means the only way they are going to see what you are discussing is to make an effort to go to your page to see it. Do people have a reason to go to your Facebook page?

Facebook business pages are often a major joke to many of us in the industry. They provide no value and often appear to be a spam factory. If you want people to engage in your page, you have to give them something. It can be an idea, a funny item, an interesting conversation and even support of some kind. You have to create something people will go back to.

Example of Creating Engagement

Realtors need to blog about things that matter and educate people, share the post on Facebook and engage the audience in conversation about the topic. Example:

"5 Common Things That Go Wrong with Pool Decks: What You Need to Know Before You Buy or Sell."

This title would interest anyone that has a pool deck, not just those buying or selling a house. You are educating home owners, buyers and sellers. If you shared an article like this and asked your Facebook community what other issues they see or if they are having any of the issues mentioned you are starting a conversation. You are being social and engaging your audience.  Most importantly you are educating people on taking care of their homes and people love to be educated.

Be strategic on Facebook and find ways to keep people talking and also coming back.

3) Some Realtors Don't Understand That Bragging Irritates People

It is great to let people know who you are and what you have accomplished, here or there, but NOT all of the time. If you spend your day bragging on social about how fantastic you are, what awards you have received, why your brochures are the most creative of all, how rich you are or why God broke the mold making you, please stop. No one cares and you are irritating people.

When you try to get people to believe you are wonderful it is obvious and it turns people off.  As I said in point #2, educate people. Give them something and educate them.

Be real, be friendly and be someone people can be interested in. By engaging and creating friendships you create trust. When people trust you they are more likely to listen when you finally share a great house (but you have to do it the right way).

4) Some Realtors Don't Understand They Shouldn't Only Share Their Listings

The most interesting thing about Twitter, that most people don't understand, is that Twitter isn't about oneself; it is mostly about sharing what others have created. People tell me they follow me on Twitter because I keeping sharing great articles they can learn from. These articles are NOT what I have written, but what others have written. I am sharing great things and NONE of them make me money, but the shares have created a following and engagement.

If you are a Realtor and you see a really great home pop up in foreclosure it is most likely wise to go on social and say:

"Hey, to all my local friends, this 3/2 house just popped up in foreclosure in X neighborhood. If you or a friend is looking for a good, affordable house let me know."

I get that it isn't your listing and the commission isn't the same, but what it does is tell your friends and audience is that your concern is what is best for them and not that you are just concerned about making money.

If You Want to Be Good at Social

This applies to ANY industry – you have to:

  • Do for others.
  • You have to share information that is helpful and educational.
  • You have to give more than you receive.
  • You have to spend time building relationships.
  • You have to care about the people that are speaking to you.
  • You need to not be focused on self.
  • You cannot brag.
  • You CANNOT only discuss yourself (and Realtors, your listings).
  • You absolutely have to engage.

Realtor Photo via Shutterstock

The post 4 Ways Real Estate Agents Fail at Social Media appeared first on Small Business Trends.

Mobile Business Benefits from AT&T Sales

Posted: 29 Jan 2013 02:30 AM PST

Mobile business benefited from a recent rise in AT&T sales. The increase in smartphones and mobile plans means a bigger audience and more opportunity for small businesses. Read on for details on how mobile is changing the way we do business.

Mobile Business Demand Increases

More mobile phones and plans added.  AT&T announced sales of 8.6 million iPhones and added 780,000 new subscribers in a successful fourth quarter, closing 2012. The numbers mean more mobile users out there and more potential customers for your business, too. The Verge

iPhone sales are the real metric. Analysis of AT&T’s Wall Street performance in the fourth quarter is not the point for small businesses. Instead, it is the increasing number of smartphones out there. Your business should be ready to cater to this growing market. TechCrunch

Smartphone demand signals important trend. AT&T plans to buy U.S. spectrum licenses for 42 million mobile users in 18 states. The purchase will be made from rival Verizon Wireless for $1.9 million, reflecting explosive demand for mobile data and a need to build faster networks. Fox Business

Boost Your Mobile Business

Your business needs mobile. Shannon Willoby shares a post about the importance of mobile Websites for your business. The article looks at the advantages versus the costs of going mobile,  at how mobile Websites can keep customers happy, and how they can increase your customer engagement. Scott’s Local Business Corner

The future of mobile commerce. Rieva Lesonsky shares this post reviewing two studies about the future of mobile commerce. The studies say mobile payments and mobile commerce will surge. One study suggests these payments could rise from $18.2 billion this year to $90 billion in 2017. Grow Smart Biz

Power of mobile infographic. VerĂ³nica Maria Jarski shares information on mobile business trends. For example, one study suggests that even though mobile device owners shop more often, 42 percent complete their purchases on the PC. MarketingProfs

Six mobile tech tools. Devan Perine shares this list of essential travel gear for the mobile entrepreneur. Make the life of a “21st century nomad” more comfortable. Do business from anywhere with these must-haves. EnMast

The post Mobile Business Benefits from AT&T Sales appeared first on Small Business Trends.