One of the hardest things about having an online business is finding customers to shop or support your business. We all know there are millions of companies like yours or similar. However, most times small business owners are looking at the same marketing playbook that other ones are looking at too. Instead, I want you to tap into your local community to turn those people into customers for your business. Last month, I talked about obtaining one percent of the local community as a revenue stream, but today I want to go even further on how to find these local customers.
Running a small business can be incredibly hard and lonely at times. This is one of the reasons for establishing Business Bestie. Allowing business owners to connect all over the world, but bring it locally when they need a friend who understands and more. Last year, I wrote and shared video content on how if your small business obtains 1% of your local towns support what it could do for your company. I am working on a cool project that solely focuses on obtaining 1% of my local market to grow my business. One percent of my local market is 1,360 people. Take the average sales order and multiple it by your cities one percent. Let me give you a quick example if your city population is 500,000; one percent is 5000 and your shirt company average sales order is $50 that equates $250,000 solely focusing on your local presence. Now, let’s break down how you can establish a local presence for your online business.
Running a small business is pricey compared to what social media teaches you. Even as a service based company, I still have serious overhead to run my company on a yearly. A plethora of the information I am sharing below are tax write offs you can utilize when filling your taxes. If you, have not called your accountant to file your taxes please make sure to add that to your schedule. I tend to call my accountant the first week of the year and schedule my appointment for around March. In addition to that, we meet at the start of the year to talk fisical goals, taxes and more. Just as it’s important to have a relationship with your business banker, you need one with a CPA or accountant in your city.
So, last month I saw one of my clients while I was at his current place of employment. He mentioned that his internet was down and couldn’t do work. He did not want to per se go somewhere such as Starbucks or cafe to utilize their internet access. He asked me what could he do to further his business when his internet service was down, being the person I am I provide him a list of options. Then I thought this would be a great blog post for when you have spare time and do not know what to do.
For almost two or three years, I have been talking about the importance of having a local marketing and customer retention plan while most experts or gurus were pushing people to dump all their eggs into the social media basket. Last month, Twitter announced they would be closing the Vine platform. Causing people to go into a tizzy of what they should be doing regarding social media and growing their business.
We all make mistakes when we first jump into something new. However, with the level of information you can find on the internet, it’s easier to jump over the roadblocks most people faced when they launched. The learning curve can be easier when you do the first item on this list. I know it can be seen as boring, but the information you collect will save a lot of time, money, and stress.
Hobby Lobby, Target, Dollar Tree and even Starbucks have been getting us ready for the holiday season since mid-October. Let’s be completely honest, this isn’t a made-up commercial holiday that snuck up on you. When I had my online boutique in July, I was preparing my business for the holiday season. It’s a billion dollar season, and you deserve to have a couple of slices of the customer and revenue pie.
Right now, you’re probably thinkings its November where did the time go. However, I need you thinking “is my small business ready to undertake the billions of dollars that will be spent this holiday season?” People love to shop and spend money, even it tightens their budgets or puts them over their budget during the Christmas time of year. It’s all about the joy on their loved ones faces when they open their gifts or when you’re at a company holiday party exchanging secret Santa gifts. As a small business owner, who owned an online boutique for several years I know how hectic this time of year can get. Today, I want to go over four areas you should make sure your business updates in for holiday season 2016.
When I mention to people that I am a business consultant and strategist, then tend to tell me the million and one ideas they have. Then say how they are struggling with which one to start because all of them are great and money makers. To be honest, not every business is a money maker especially if you’re only starting it to make quick money. Those tend to be the fastest money drainers because of the amount of time, money, and more that needs to be invested.
Let me first start off by saying this is going to be a lengthy post because I believe that entrepreneurship or launching a small business has been glamorized in recent years. Heck, for all my college years I thought had to live in NYC was like Sex And The City. Carrie and the girls did make you want to move there and just live such as fabulous life. Yes, there are amazing days that are full of greatness, and then there are days you just want to lay in bed and watch Fixer Upper marathon. Hey, girl, I have been keeping it real since the womb, so let’s get started.
Yes, I know we are in September, and I want to discuss how to maximize your yearly marketing budget. The thing is, more and more small business owners are just winging it verse planning. Some people say they over plan and never get stuff done. Honestly, I believe they have added too much to their plate causing the lack of achieving goals. For a business to truly to succeed, they must create budgets, goals, deadlines and more. Personally, I believe a $2,000 marketing budget for the year is a great starting point. It can yield you high ROI if done correctly.