Often, people mistake small business owners as entrepreneurs, and this mistake has become very costly for some individuals from both sides of the terms. There is a world of difference between an entrepreneur and a small business owner. Here are some elaborations.
Proprietors create their business because it is a resolution to a problem. For entrepreneurs, they do not just stick with a solution; they find other problems and create ideas to resolve them. Entrepreneurs expand their roles and venture into such business and investments to enrich their experience and their potential in the industry.
2. Risk Takers
Small business owners are normally famous in their communities because they resolved an early problem the village had. Small business owners control their spending and profit. However, for entrepreneurs, taking risks is the key. They would fail in creating many businesses, but they would land one that is effective using all the knowledge from past experiences.
3. Technical Interests
The technical side of the business excites entrepreneurs. If they understand how an invention works and how people can benefit from them, they would understand every technical bit of information involving them. However, as much as they are interested, they are not attached with their investments. For small business owners, this is why they focus on metrics; to preserve their sentiment-filled business.
Every customer has a comment or suggestion about a product or service and they will often share this in social media. A comment or suggestion will help boost your business’ online reputation, but reviews in specific websites bring or push away more consumers depending on the article they have read. The more positive reviews, the better the reception of the business. A business could increase their consumer reviews through the following.
Always make it a point to follow a website or community’s guidelines when you are asking or having your consumers create reviews about your business. It is important that they understand the value of the reviews they give to sustaining the business. Following the guidelines is important; many review websites remove millions of reviews daily because they do not follow the guidelines.
Your business’ website should have a link that directs a consumer to your review profile in a specific community website. You could also have consumers make a review of your service through an email during or right after the time of service. As long as you have a link to your review page, you could get good results.
3. Review Site of Choice
Post-service, send an email to your consumer regarding rating them at their favourite review site of choice about what they think of your product. Tell them how helpful their review will be, or give them an incentive to make a review for a website of their choosing.
4. Avoid Writing Fake Reviews
Never pay for fake reviews, even if a third-party website says that they can help your online marketing strategies by paying them to make a fake review. Consumers have their own credit card, account, activities and every form of data that requires genuineness and this is impossible to replicate for one third party website or service.
Inevitably, it is all about putting positivity up front and having consumers know they need your product in business, and gaining good internet presence is the best way to do this. Millions of people are using the internet on a daily basis, and through social media and effective search engine marketing strategies, you could build your business brand through the following ways.
1. Social Networks
Social networks are not just for building your network of businesses and consumers, as well as updating them on your new products and services. Having your employees register themselves to work in your business page and respond to consumer questions will help boost your business’ credibility. Your employee’s presence vary from one social network to the other; a professional social network, which displays your employee’s credentials and achievements, can help boost the brand for your business.
2. Search Engines
Internet entrepreneurs who can do the first tip also enhance their search engine marketing. The credentials of employees, along with social network recognition of the business as a legitimate and official account, will boost the company’s presence in social media and search engine results pages. With your website filled with useful information and personalized blogs, you gain more ground in internet marketing.
3. Good Reviews
Having good reviews could be difficult, but if renowned business or industry critics praise or criticize you, having received their attention and earning a page in their blogs still boosts your internet presence. But always seek good reviews; you want to have more consumers and not have presence for all the wrong reasons.
Branding shows the ‘personal’ side of the business by showing the genuine care and concern of proprietors, employees and other people involved in the business. As a representative of your company, you also show this particular ‘personal’ side in interacting and making deals with other business. It is important that you are careful in presenting yourself, including your body language and demeanour.
1. Words and Language
Most business representatives will expect that you speak their language, meaning you are formal in addressing key individuals in a deal or a company personality. The way you construct your words and sentences reflects the attention to detail and type of personality you have to the persons spoken. So choose your words carefully and construct your sentences in a professional manner.
2. Professional Manners
Professional etiquette is important in meetings. Business leaders will be looking at you and if you seem distracted or you do not mind or take note of key details that they expect you to remember, you might find it troublesome to earn their trust. You must avoid appearing unpredictable towards the people you want to be in partnership with your company.
The way you present yourself to the company leaders is the way they see you perceive them as important. If you, as the company representative, dress up and present yourself as well-prepared and professional, the company leaders will definitely give you and the company the respect it deserves, as well as a possible consideration for approving a certain partnership.
We all expect medical professionals to perform their best when it comes to surgical operations. A minor mistake, and the patient’s life is in peril. However, not every medical professional performs as effective as the other and I and my mom had to learn the hard way.
My mom was about to undergo a simple gallbladder removal a few years ago. As a very simple and non-life threatening condition, the hospital apparently de-prioritized our case, or so it seems. Delays in the schedule was apparent, and our medical professional committed a grave error.
After operation, my mother felt very dizzy even 24 hours off the anaesthetic. I began to worry, so I called on the medical staff to check my mother. Our medical professional found that a medical assistant had committed an error in the administration of proper anaesthetic. He advised us to file a medical negligence claim against the hospital and he would gladly help us.
He referred us to a good no win no fee clinical negligence claim lawyer, who had spoken to the hospital administration. He was well-versed with medical procedures (seemingly because he and the medical professional had educational roots) and he explained that a lapse of process had been committed. The lawyer said it was identical to a case he worked on a decade ago.
Fortunately for us, we won compensation for my mother around £10,000 for the lapse of process. The medical assistant, who was unnamed, had been suspended. As for us, we’ll never look at the UK medical industry the same again.
Innovation and profit are tied very closely in business. A new idea could develop a new need, which breeds a new demand and a great supply in turn. Entrepreneurs must never look away from innovation because it is possibly the lifeblood of any business.
According to Amitabh Shukla of Paggu.com, entrepreneurship produces financial gain and helps keep the economy afloat. This point makes it clear that until the public realizes that an object is essential for their daily lives, resources for that object will be trash or useless in the long run. Making use of resources and developing an interesting product is the work of an innovator.
Shukla also adds that the entrepreneur presents a solution. This is why the internet’s small boutique shops gain fame not just through their spread in social media, but because they fulfil small, petty cravings of internet audiences. Some projects online from new entrepreneurs compel people to support the idea, such as the invention of the world’s first 3D pen.
Good and absurd ideas will always have a space in business. It is important that business proprietors and investors recognize the importance of these untested, high-risk ideas because they can be a key to opening a new market for the world, which contributes to the global economy’s rise.
Entrepreneurs know that lists help them build connections and strengthen existing connections in relation to their industry. A list of consumers, suppliers and competitors are very important for startups because these groups will give them feedback, the needed materials for developing their products and services and their competitors can provide them their standing in the local industry.
1. Increasing Networks
In an aggressive business industry, increasing one’s networks is crucial and only an existing network contact can refer you to another person that you can work with. Former partnerships with your company may refer you to individuals who may be in need of your service, which can increase your market value throughout the increase of networks.
2. Peer Review
As networks continue to grow, peers will continually review the services of their other networks. These suggestions are valuable because they come from a professional standpoint. Consumers could submit their comments and suggestions through social media other means, but a peer review is more valuable because of its exclusivity.
3. New Ideas
Companies competing against each other will want new ideas and networking lists help to find other smaller or even startup companies who could provide new ideas to the materials and current products and services the business has. A list would be essential as it enables companies to easily inquire about other suppliers and vendors they know.
Branding is a strategy that helps business attain consumer trust by focusing on delivering quality products and services. A good reputation is good consumer interaction. In the Internet, you’ll need to have search engines and social media recognize you as an existing and formidable brand.
In the Internet, a social media account validates the existence of individuals and companies, but only if other people and people involved in a company acknowledges the existence of a company profile, then social media administrators could verify it as an official account. Once your employees register your company profile in their social media profiles as their workplace, you send a signal for valid verification.
2. Acknowledgement by the Public
Aside from your employees, if your target market posts media about you, such as photos of themselves with your products or demonstrating your products through videos, you gain more prominences and recognition from search engines.
3. Offline Campaigns
If you have an offline advertisement in print, radio or television, these could help search engines verify your existence as a prominent company. Some users or even your own standard company accounts in certain photo or video hosting websites could post your videos, print ads or radio jingles in the Internet, which helps your brand signal develop throughout your campaign.
The new year brings better opportunities for investors and entrepreneurs looking for opportunities to grow their money. Investing in businesses and other opportunities in 2014, you might want to think of the following industries.
1. Information Technology Businesses
Either entrepreneur or investor, the IT business is booming with more small and big businesses transitioning from traditional file handling to computerized information storage. The demand for IT management and security experts is not dwindling and seizing this opportunity can help grow your money and give a business’ potential a chance.
2. Technology Manufacturing
Whether it’s a transistor manufacturing company or a company that creates innovative hardware or technology material, technology manufacturing has the potential to grow further as software innovation and consumer technologies continue to meet higher demands. Do not miss out on this opportunity to penetrate the different technology markets in the world today.
3. Franchise Businesses
Don’t become a franchisee, instead, become the franchisor. Creating a business franchise could take great work, but investing in one will help you access untapped market hidden under the mainstream market. You will be spreading your business wider, but you could get possibly greater returns because of your franchise.
4. Internet-Based Businesses
Content production, article marketing and copywriting are all services any company or business could use. The increasing numbers of Internet users gives businesses the chance to advertise at a lower price. However, business competition in terms of marketing in the Internet is quite hot, and the demand for Internet marketing professionals is greatly increasing.
Picture this: your company already has an established name in the industry and you are about to release a new commercial. You only have a limited budget but you have to get your commercial running because it is the “in” season where you could get a high share of the target market. The limited budget only permits a small crew with mediocre actors. Then you release it on television. People remember your commercial and they did buy the product your commercial showed, but many remembered it because it was very horrible.
You may have sold a great deal of products, but you ventured into negative branding. Businesses each have their own kind of personalities not only reflected by the business proprietors. The kind of advertisements, information and message your company shows to audiences reflect the business personality.
Would you permit your business to appear having low quality content, played by bad actors? A brand name could be tainted with mediocrity because of negative branding.
Search engine optimization and Internet marketing also works the same way. Focusing on technical search engine optimization instead of working on building character and rapport with your audience will only grab the audience’s attention because it is highly posited in the search engine page results, but its spammy and low quality content will deter your company’s name.
So focus on branding instead. Build your brand based on the high quality of advertisements and media you have.