Social Media Tips for Small Businesses By Jenn Renner, Marketing & Distribution Manager, Gold Pages Publishing, Inc. When it comes to Social Media Marketing, now is the time to up your game. Here s a few tips to optimize your strategy. 1. Choose the right platform. There are hundreds of social media platforms besides Facebook,Twitter, Google+, YouTube or Pinterest, so pick the platforms that work best for your business. 2. Don t bite off more than you can chew. Choose your best social media and give them the time they deserve. 3. Build a relationship. Engage with your audience and get them involved. Social media is a two-way street. 4. Post wisely. Don t use your business social media as a platform to complain 5. Post shareable info. It will help your business reach others. 6. Grammar matters. Check and recheck everything that you put in your posts. 7. Use images. Images can tell the story just as much as
words. Make use of color, but don t over do it. If you use videos make sure that they are professional and high quality. 8. Post Timely. Know the best time to post for your industry. Try different times of day to see when you get the most response. 9. Respond to all posts. Don t ignore any posts, whether they are good or bad. 10. Don t use only as a sales platform. Foster relationships and provide free information that readers will want to share with others as well as posting about special deals & sales. 11. People love to feel special. Entice and reward your social followers with exclusive offers and bonuses. Even a simple thank you goes a long ways. Manage the Risk of Losing One of Your Greatest Assets - Your Key People
Jodi Enderson Lawrence, Farmers Insurance Agent, Jodi Enderson Agency Inc. Rapid City, South Dakota Two of the key risks for business owners today are the risk to property and the risk to people. As the Small Business Administration(SBA) points out, Material losses to a business can usually be repaired or replaced. Loss through death is always total and only people can replace people. Who are the key people in your company? They are the ones with special training, sales prowess or leadership charisma that keeps you competitive. They represent the backbone of your company. If you see a letter of resignation on your desk, you hope it s not from one of them. Whether that person embodies a technical advantage, a leadership advantage or a sales advantage, life insurance on key people can help protect your business from an expected or unexpected loss. According to the Small Business Administration (SBA), Life insurance is the most economical and effective means of providing cash because, during life the cash value constitutes an increasing liquid taxadvantaged reserve available to help meet the financial needs of the business, and at death, the full proceeds are immediately available. These proceeds can help fund the transition for a new person to take over the position and help offset the loss of revenue in the meantime. Whether it s the loss of sales contracts, leadership or technical expertise, life insurance on key employees can help your company weather the financial consequences of an unexpected loss. While many people associate term insurance with coverage on key people, a more permanent type of insurance may be the better solution. The primary purpose of insuring the lives of
key people is to indemnify the business for the loss of an employee, but with permanent insurance, the policy may deliver other business advantages. Permanent life insurance may help: Provide funds 4 through policy loans for sudden emergencies or unexpected opportunities Bolster the credit standing of a company Serve as collateral for confidential policy loans, at a guaranteed rate, that do appear on credit reports for the business Provide funds that the company could use to help supplement the insured employee s retirement Serve as an incentive for the employee to stay with the company Provide policy cash value should the employee leave the company A phone call to your insurance agent can help you determine whether term or permanent life insurance is the right product for your business. Today s companies run on people, not just machines. Intellectual capital powers business, the loss of a key person could spell disaster for your company. While many companies will spend a great deal to insure against fire, often they overlook or minimize the risk of losing a key employee. Life Insurance on key employees may be more important now than ever before. 1 Publication M-20, Insurance Options for Business Continuation, U.S. Small Business Administration 2 This material is for general information purposes only and is not legal or tax advice. The material may not reflect your particular circumstances. The author is not authorized to
provide tax or legal advice. Please consult your tax or legal advisors for advice specific to your situation. Carefully read your contract prior to purchasing any life insurance or annuities. The material represents the author s general understanding of current law, as tax laws and IRS administrative positions may change. This material is not intended to, and cannot be used to avoid any Internal Revenue Service penalties. 3 Publication M-20, Insurance Options for Business Continuation, U.S. Small Business Administration 4 Policy loans and withdrawals will reduce cash value and death benefit. Policy loans are subject to interest charges. If you policy is a modified endowment contract, loans and withdrawals may be subject to taxes and penalties. Have You Set Your Business Goals? By Angela Wolter, General Manager & Co-Owner Gold Pages Publishing Inc.
Have you set your business goals for 2015 yet? Recent economic growth indicates this could be a huge year for small businesses. A new year often brings new resolutions, but setting goals is the best way to transform resolutions into bottom-line results. Research shows that when businesses set measurable goals for themselves, they re more likely to achieve them. Goals accelerate growth. The right goals keep you focused on a path to success. Put simply, successful people set goals. With your goals in place, you will be able to utilize your business resources more effectively and stay on target. Your success is whatever you want to make it. When setting your business goals, make sure they are SMART! SMART goals are Specific, Measurable, Attainable, Relevant, and Time Based. Like most people, you likely have many small SMART-based goals. However, having too many goals can be overwhelming, so it s advisable that you break your goals down into specific sets of tasks in order to accomplish them. If you have no idea how to even begin setting goals, this little exercise may help: 1. Identify imperfect areas in your business. 2. Once you ve come up with at least 3 areas, ask yourself, what would this area look like if it were perfect? Now, define your goal based on what it could look like if it were perfect. Define your goal here: Verify that your goal is SMART. Specific: What do you want to accomplish? Measurable: How will you know when you ve reached your goal? Achievable: Is achieving the goal realistic with effort and
commitment? Do you have the resources to achieve the goal? Relevant: Is this significant to your business? Timely: When will this be achieved? If your goal isn t SMART, try restating it until you ve covered all 5 SMART points. Lastly, once you ve defined your SMART goals, be sure to write them down. Putting goals on paper make them real and add accountability. By following this process and then taking the necessary steps to accomplish your SMART goals, your business is sure to experience newfound growth and success in 2015. Success by Entitlement? By Dana Messmer Sales & Marketing Manager Gold Pages Publishing, Inc. In this age of entitlement, it would appear that business owners have adopted a corresponding practice. The formula seems to be 1) Open a business 2) Put up a sign 3) Load it with products 4) Success, here I come!
Of course, it s never that simple. If you are opening a national chain, then maybe this will work for you. On the other hand, if you are a small business owner, then your experience will almost always be drastically different. Why is it different for a small business? With a chain, you have preexisting expectations of the products and services, as well as the advantage of having an established name on your storefront. But this article isn t about becoming the proprietor of a franchise it s for the small business owner. Let s revisit my comment about entitlement. The Oxford dictionary defines entitlement as the belief that one is inherently deserving of privileges or special treatment. So, if you believe that if you build it, they will come is the answer for your business, I hope you have your resume up to date. The fact is, roughly 60% of small businesses fail in the first year. Don t get me wrong, there are steps to starting a successful small business that will help you avoid being a first year casualty. Getting a good location is actually a great start. Putting up a sign as a constant reminder to consumers that we are here, and filling your store with products will also make it on many lists of survival tips for small businesses. However, keep in mind that no matter how many hours of research you have put in, what you want to sell is not always what the consumer wants to buy. So, don t overload your inventory until you know what your consumers want and you have seen actual sales. When starting a new business, learning has to come before earning. Substantial planning such as having a solid business plan that identifies who your target market is and how you are going to reach them is an important start. Can you truly satisfy consumer s need with your product? If so, do you have a way to let them know that you offer a solution for them? To do that, you must come up with a workable advertising plan to get the word out about your product and business. Not all
forms of advertising are a good fit for all businesses/products, so revert back to who is your target and will this reach them when crafting this plan. As a new business, you are in need of exposure and leads, as your goal is to reach a profitable state as soon as possible. In addition to advertising to the masses, also tap into your network of friends, past and present business contacts, and, yes, your family. A little old fashioned networking with absolutely anyone and everyone will only help to get the word out. If you are offering a similar product or service to another business, make it better, or put a spin on it to draw customers from your competitors to you. This is often easier than creating a need. The overall trick is getting your message to the right people. Keep an open mind, learn from others mistakes, and remember, just because you ve worked so hard to get the doors open doesn t mean you are entitled to succeed. What is the Cloud-Part 2 By Cody Reynolds Owner, Xybolt
xybolt.com Everyone talks about it, you are probably already using it (whether you realize it or not!), and it can help your business be more cost effective and productive. This is the second part in a three part series on The Cloud. In the last article, we talked about Software as a Service and how you can pay for a specific service and get only what you need. Sometimes, however, there isn t a service available that you need. You may have to run software on a Windows or Linux server to get the features you require. This is where Infrastructure as a Service comes into play. When we say infrastructure, we are talking about the hardware that you need to run your software. Some of the big players that you may be familiar with are Rackspace, Amazon Web Services, Google Cloud Platform, and Microsoft Azure. These companies provide computing power, storage, and network connectivity to run your software in the cloud. Again, these are great services as they are designed so you only pay for what you need. For example, let s say you have a physical server in your office. It runs maybe some database programs, some sales software, and a record-keeping program. The server is getting old and you are going to have to purchase a new one. If you paid for your first one, you know that this is an expensive endeavor. The hardware is very expensive, you have to provide a space for it, and it consumes a lot of electricity (think about it it is always on and is the most powerful computer in your office). You also will have to buy more than you need to be prepared for the future, and if it were to crash, you have to get another one in place quickly. But using a provider like Rackspace in the cloud lets you pay as you go, and only for what you need. You can run virtual servers in their cloud with
the exact specifications you need and you build them in a couple clicks. Maybe your database software needs a lot of space but only some computing power. You build its virtual server to fit its needs. Or maybe your sales software needs a lot of computing power you can crank that up just for that server. Also, as you grow, you can increase their capacity with a few clicks. So, no upfront costs and it grow with you. Besides costs, there is a huge benefit to this: stability. Your virtual servers run on high-grade equipment, managed by some of the smartest people in the world, and all in facilities designed to survive any possible condition thrown at them. Not sure if it is good enough for you? Netflix, Expedia, Pinterest, and Comcast are just a few that run some or nearly all of their servers on Amazon Web Services. That s a pretty big deal. In the next part of this series, we will look at some specific cloud services that could be useful for your business! From virtual phone systems to accounting software, there are many great solutions out there! Social Media Tips for Small Businesses
By Jenn Renner, Marketing & Distribution Manager, Gold Pages Publishing, Inc. When it comes to Social Media Marketing, now is the time to up your game. Here s a few tips to optimize your strategy. 1. Choose the right platform. There are hundreds of social media platforms besides Facebook,Twitter, Google+, YouTube or Pinterest, so pick the platforms that work best for your business. 2. Don t bite off more than you can chew. Choose your best social media and give them the time they deserve. 3. Build a relationship. Engage with your audience and get them involved. Social media is a two-way street. 4. Post wisely. Don t use your business social media as a platform to complain 5. Post shareable info. It will help your business reach others. 6. Grammar matters. Check and recheck everything that you put in your posts. 7. Use images. Images can tell the story just as much as words. Make use of color, but don t over do it. If you use videos make sure that they are professional and high quality. 8. Post Timely. Know the best time to post for your industry. Try different times of day to see when you get the most response. 9. Respond to all posts. Don t ignore any posts, whether they are good or bad. 10. Don t use only as a sales platform. Foster relationships
and provide free information that readers will want to share with others as well as posting about special deals & sales. 11. People love to feel special. Entice and reward your social followers with exclusive offers and bonuses. Even a simple thank you goes a long ways.