What’s Your Sustainable Competitive Advantage?

competitive advantageLet’s talk about strategy for a second.

If the Internet has torn down so many of the traditional barriers that prevented businesses from becoming successful, why is making money online so much harder than doing business in “the real world”?

Well, strangely enough, the lack of barriers is actually a disadvantage since it pushes more competitors into your market. This actually makes it HARDER to do business online, rather than EASIER.

Also, you must keep in mind that if you DO become successful, other people will begin to copy you… or even automate your tactics! If you haven’t properly defended your position, they can quickly move in to drown out your lead generation channel.…

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Paper Marketing is Not Dead

direct mail marketing with postcardsJudging by the tone of most marketing blogs, you would guess that all business was either conducted on Google or Facebook. But it’s easy to forget that many of the tried-and-true methods of the past are still just as valid today.

Take postcards for example… they’re fantastic!

You can just load up your prospect list in Excel, run the stack through your ink-jet printer, and you’re ready for the mailbox. There are no letters to fold, no envelopes to stuff, and (for large volumes) no stamps to peel.

Postcards also work great in tandem with your online efforts. If you record a different themed webinar every month, you’ll have a new reason for prospects to engage with you in each mailing.  …

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Running a Global Business on a Shoestring

operating a global business on a budgetBusinesses today need to look beyond geographical borders in order to expand. There is a whole world of consumers, customers and clients out there waiting to buy your service or product. Opportunities aplenty await the astute businessman willing to take the risk and go global.

Going Global“ does not need to be expensive.   It’s relatively straightforward and cost-effective to target foreign markets if you are astute enough and cost conscious enough. Neil Payne set up his business on a laptop in a studio flat in 2004. He now oversees a company with offices in the UK, USA, Argentina, South Africa, Germany and the UAE.…

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Small Business Payroll Taxes

payroll taxesThere is no escaping the wrath of the IRS when it comes to unpaid taxes. There are several differences between running a small business versus a large corporation, but at the end of the day, payroll taxes are something that all business owners must pay close attention to in order to avoid problems with the IRS.

Owing the IRS is not the same as owing a lender or creditor. In the latter situation, you can often negotiate or work out payment arrangements that will allow you to avoid legal ramifications and get your accounts in order without losing your business. The IRS is not a lender nor creditor and will take aggressive action with collection efforts.…

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Guarding Your Balance Sheet – Tips for Survival in Today’s Volatile Market

saving money in a down economyAs the recession continues to extend into 2010, we continue to be inundated by news about the challenges that face the small business community.

While we are not completely out of the woods in terms of the economy, there are several things that small business owners can do to protect their businesses during these challenging times:

Manage Collections: Outstanding invoices should be aggressively followed up on round-the-clock. Having unpaid invoices will create instability. Be aggressive and assume the worst.

Collect Upfront: Make sure that all of your contracts stipulate payment upfront. Net 30 can stretch into Net 60, then you are stuck doing work for 2-3 months without being paid.…

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Searching For A New Bank To Suit Your Business Needs

searching for a new bankThere aren’t many good news stories about banks these days so if you’re looking for a new bank you may be facing the quagmire of what to look for and who to turn to when searching for a new bank. The answer may rest upon what your personal and or business banking needs are.

For business owners, entrepreneurs and consumers seeking personal guidance, it is important to recognize that your relationship with your bank is extremely important.  This is one relationship that requires serious time and examination.

I believe the examination process is twofold. On one side of the equation you’ll want to look at the financial stability and business model of the bank to ensure it can provide the financial strength and safety needed to stay in business and serve your needs in a favorable manner to you.…

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Small Business Owners: Beware of Fraud

business fraudSmall business owners have a higher risk of identity fraud than other adults according to a recent study co-sponsored by ITAC, the Identity Theft Assistance Center, and The Financial Services Roundtable.

The Javelin Strategy & Research 2010 Identity Fraud Survey Report found that overall identity fraud grew by 14% in 2009 to 11.1 million adults, in part due to the economic downturn. Small business owners are one-and-a-half more times likely to be a victim than other adults

“The higher incidence of identity fraud among small business owners is probably due to the fact that they have more accounts and conduct more transactions,” said ITAC President Anne Wallace.…

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5 Tips to Work More Effectively From Home

tips for working from home successfullyThrough recent advances in technology, the number of individuals working from home offices has greatly increased in the past decade.   When individuals have taken the proper steps, home offices allow one to work from the comfort and convenience of home without sacrificing productivity.   There are a variety of reasons why individuals would choose to work from home.

Those who own and operate their own small business may choose to work from home because they do not have the necessary funds to afford a lease on a commercial property.   Many corporations now allow their employees to telecommute because it cuts down on expenses and the amount of office space needed.…

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Why Outsourcing Your Finance Department Makes Smart Business Sense

outsourcing finance departmentsFor many smaller and mid-size companies, the hiring CFO-level talent can be too costly and completely unfeasible.   In addition to searching for the right candidate, you have to offer a highly competitive package – even in today’s economy – to attract the top-level finance talent you need for business success.

In addition to requiring C-level finance talent, smaller- and medium-sized businesses require a dedicated finance department that can handle the entire spectrum of financial support services – from strategic financial business planning to day-to-day accounting.

So, the challenge is posed for any entrepreneur…how can I have a viable finance team without the dedicated resources for hiring talent?…

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Four Attractive Ideas for Growing Your Small Business & Bottom Line

marketing ideasHere’s the hundred and first time you’ve heard it:   it’s a tough market out there.

Small business owners are flooded with more priorities than they can handle, ranging from raising capital to streamlining processes to everything in between.   Whether a function of not enough time in the day and/or limited know-how, marketing, advertising, and promotional tasks are quick to slip through the cracks.   But they don’t have to.

Luckily, the following four promotional strategies require little time, know-how, or budget.   What’s more, they are proven concepts that will help to increase your business’s recognition, pool of customers, and most importantly, your bottom line.…

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