All posts in Micro Business Insight

5 Quick Tips to Avoid Burnout

By | May 13, 2013 | Micro Business Insight, Micro Business Issues, Micro Business Tips, Tips | 1 Comment

This post is written by Robbie Vogel, a writer/editor with Vistaprint. Robbie has worked for microbusinesses in both PR and advertising.

The life of a small business owner is not a walk in the park. It’s normal to feel overwhelmed, highly stressed, and mentally and physically exhausted at times. However, when these feelings combine with a general helplessness and a desire to simply give up, you might be perilously close to a burnout.

The differences between being stressed out and being burned out are subtle. According to Help Guide, stress is characterized by over engagement and produces urgency and hyperactivity. Everyone knows these feelings, when it seems that the day is too short and the to-do list is too long. Burnout, on the other hand, is characterized by disengagement and a loss of motivation. So if that passion that used to get you out of bed in the morning is nowhere to be found, use these five quick tips to prevent burnouts. Read more…

Small Business Lessons: Sylvan & Sons

By | September 28, 2012 | Micro Business Insight, Micro Business Issues, Small Business Tips, Tips | No comments

This is a guest post from The Marketplace.

When it comes to being a small business owner, creating a support system is important. One of the best places to look for this network? Other small businesses. Here are a few quotes from Linda Martuch of Sylvan & Sons, a company that produces dog and cat collars, leashes, harnesses and collar bows that we think you might find inspirational.

Her story:
“I got into business because I love dogs and I love animals, and I’ve been doing it ever since. . . for 25 years,” she says. “When I started this, I had never run a business, I had never kept the books, never paid the taxes, never hired employees, never supervised anybody, never been in manufacturing. I was working in computers for a couple years and before that it was real estate and before that I was waiting tables, and I had no business, no training, no experience in business. So basically what happened to me was a 25-year learning curve.” Read more…

It’s an Image-Heavy World, Just Ask Instagram

By | June 4, 2012 | Marketing, Micro Business Insight, Micro Business Issues, Micro Business Tips | No comments

This story was originally published on Boston.com’s Small Business Blog.

With the advent of social networks and sharing at the click of a mouse, imagery is quickly becoming a must have for business and marketing success.

Facebook just bought Instagram for $1 billion, and that’s nothing but a network of people taking, altering and sharing photos they took. Infographics, videos, quirky signs with one liners, motivational posters and amazingly looking food are all being pinned to Pinterest and examples of image specific content that’s being shared. People are looking for it, are more aware of it and are more likely to remember things they have seen than ever before. Forget the written word, people are now focused on pictures. If a photo of a random “photogenic man” running a 10K race can get viewed 1.4 million times, think about what imagery could do for a small business?

But just because things are being shared online doesn’t mean that using images and signs out in the real world won’t also have a big impact. As I’ve mentioned in the past, direct mail can (and is) still a very viable way for small businesses to conduct local marketing campaigns and see immediate success. But signage, for any small business is a must have, especially if you have a physical storefront. The sign on the right is a shining example of how something offline can still go viral and get eyeballs

Landscapers have long been the local experts when it comes to taking advantage of lawn signs, at least the savvy ones. Seldom can you drive through a town without seeing a number of them proudly being displayed for all to see. If you think that people driving by every day don’t notice, remember the name of the company, then jump online to check them out and potentially use their services, think again. It’s a perfect example of how simple signage can make all the difference in raising awareness and generating business leads locally.

In fact, a recent study commissioned by FedEx illustrates the importance of signage specific to small businesses. The study found that:

  • Almost eight in 10 (76 percent) American consumers enter a store they have never visited before based on its sign.
  • Nearly seven in 10 (68 percent) have actually purchased a product or service because a sign caught their eye.
  • A small business? Signage can also be an influential word-of-mouth marketing tool, with three out of four consumers saying they have told someone about a store based simply on its signage.

There’s a reason why Dominos pays people to stand out in front of a store holding signs touting the latest pizza offer, or why people consistently stand outside local voting stations during election cycles holding signs of their candidate of choice. It’s because imagery and signage work. You see something, you’re more likely to remember it. Studies have shown this to be true, especially images that you’ve seen before or multiple times.

So the question is, how can a small business owner take advantage of signs?

Be clever, be memorable: It’s easy to produce a sign that says “Johnson’s Landscaping” with a contact phone number. The problem is you need to cover a lot of lawns in order to stand out and get remembered. Having a sign with a web address that says, “www.wefixyourlawn.com” is more likely to get you remembered and acted upon. Also having “calls to action” always helps. For example, a landscapers sign could read “Like this lawn? Why not call us!” with the name and number of the business. Use every opportunity to post a call to action. You’re more likely to get noticed.

You don’t have to have physical storefront: People always think signs are for people with physical locations, but nothing could be farther from the truth. There are all kinds of places you can stand out. Stickers, car door magnets and T-shirts are great examples of options you can use in multiple places to help stand out and harness that word of mouth marketing virality. Think your customer wouldn’t wear a free T-shirt you gave them for doing business with them? They could become a walking billboard for you instantly and for a small investment.

Keep it consistent: Whatever you’re doing, make sure that it all looks the same (or is at least very close). If you’ve got a truck that’s outfitted with the company colors and logos, make sure that the signs you’re posting all over town also have the same colors and logos. Same thing for T-shirts you hand out vs. your business cards and postcards. If they’re disjointed and different in terms of design, their effectiveness decreases. It should all have the same look and feel so you can be remembered. Those are important brand elements that must be consistent.

How have you effectively used signs or images for your business? Have the offline tactics you’ve used helped bring in new business?

Building a Brand for Your Small Business

By | May 25, 2012 | Marketing, Micro Business Insight, Micro Business Issues | 1 Comment

This post was written by Lynne O’Connor, Senior Director of Client & Brand Strategy at Vistaprint.

There is a lot of buzz about branding, and while it might seem to be the domain of large corporations, small businesses can harness the power of branding too. The fundamental principles are essentially the same whether you’re a start-up or an established corporation. Brands serve as shortcuts for decision-making, and a strong brand has real value — it can increase the odds of a business being chosen versus the competition, and as a result, help build sales and profit. Here are seven steps to get you on the path to effective brand-building:

1. Know thyself.
Ask yourself what makes your business special. Why should (or do) customers choose your business over competitors? If you’re not sure, conduct an informal survey with some of your best customers. Also, think about the ideals that guide you in operating your business — these values should be reflected in your brand.

Hint: Don’t skip this step. Determining your unique value proposition is the foundation for brand building, and you don’t want to start on shaky ground.

2. Know your target audience.
Define who it is that you aim to attract and serve, and think about the needs they have that you can fulfill. Start with the basics of their demographics and behaviors that are relevant to your business, such as home ownership or hobbies. Next, layer on the perceptions or attitudes that might make potential customers most receptive. The key here is to make sure that the combination of what you offer and what makes you special appeals to your target audience.

Hint: Current and potential customers will likely include multiple segments. A tip we’ve seen work well is to profile each target segment. For example, describe your ideal customer in terms of age, gender, family status, key needs, attitudes, and purchase behavior. Use this info to guide you on where and how to communicate effectively with each audience.

3. Position yourself to win.
Your brand “lives in the minds” of your current and potential customers. How do you want them to think about your business? What needs do you fill in their lives? How do you want customers to feel about doing business with you? Establishing an emotional connection with your customers adds power to your brand. Attracting customers and then keeping them coming back requires more than just a relevant offering — you also need to stand out. A clear positioning statement that articulates how you’ll differentiate yourself will provide a blueprint to drive your planning, marketing and sales efforts.

Example: Target differentiated itself from other big box stores by creating a new position that included not only delivering good value, but also offering the appeal of design. Think about what added dimension you might offer to further stand out versus other options in your market.

4. Find your voice and define your look.
With your strategy in place, the next step involves creating and communicating a “brand identity” that not only looks professional, but also reflects the unique you. While a brand is more than a name or a logo, those elements along with the colors, visuals, and tone of voice you use in your marketing materials, website, etc. all say something about who you are and what customers can expect if they choose to do business with you.

Hint: Ask yourself how you’d like people to describe your company, product or service and then think about how this description might be expressed visually. For many business owners, the first tangible expression of their brand comes in the form of a business card — a sign to the world that you’re ready to do business.

5. Be consistent.
Project a professional look that rivals the “big guys” by coordinating your look across the full range of marketing materials you use — from your business cards and other printed materials such as envelopes and letterhead to your online presence via a website or Facebook page. Your communication and marketing materials should signal that you’ve “got it together,” and you’re someone customers can trust to get the job done well.

Hint:  As a busy business owner on a tight budget, you may be wondering how on earth you’ll be able to find the time and money to create a professional, coordinated look. That’s where Vistaprint can really help. Check out this example:

6. Live the brand.
At its essence, a brand represents the promise of an experience. How customers think of your company will be based on all of their experiences with you. Impressions start forming as customers become aware of your business, whether from word-of-mouth referral, advertising, or some other channel. Their image continues forming at every touch point from purchase and delivery to customer service and ongoing communications including social media. All of these experiences should support your positioning and reflect your brand identity.

Hint: One tool to help insure that your business delivers on your brand promise is to create a customer experience map. Outline each of the key interactions a prospect and then customer would have with your business and then define the type of experience you’d hope to create. Compare this to the actual experience you’re delivering today and identify improvement opportunities.

7. Stay the course.
Establishing your business takes time, and so does building your brand. Perhaps you started your business on a part-time basis and are now looking to ramp up to full time. Alternatively, you may be well established, but looking to grow. You’re sure to have lots of ideas about how to promote your business. My advice? Try them out. Find ways to stay in front of your customers and prospects so when the need arises for your product or service, your brand is top of mind.

Hint: Have fun along the way. Think of your building your brand as sharing your passion for what you do!

Must-Have Business Tools

By | May 7, 2012 | Marketing, Micro Business Insight | 1 Comment

Earlier today, we asked our Facebook community what business tool was a must-have. Originally, we thought we might see a lot of technology-related mentions, but our community threw us for a loop going with more meta items, such as “pens” and “business cards” (Vistaprint also came out on top!)  Check out our word cloud, based on the responses we received:

What about you? What is one business tool YOU can’t live without?

Pop Goes the Small Business

By | April 25, 2012 | Micro Business Insight | No comments

Pop-up stores are, well, popping up everywhere these days — from the uber-hip Warby Parker store in New York’s SoHo neighborhood to springtime flower shops that host local florists at West Elm. These shops are moving in (temporarily) to neighborhoods across the country. Even the NFL has gotten into the game, with a strategically placed shop located just a few blocks away from the 2012 NFL Draft at Radio City Music Hall.  These are just a few of the many recent pop-ups from brands big and small that we’ve noticed, but this trend is nothing new, and it’s certainly not slowing down anytime soon.

So what, exactly, are pop-ups all about, and is one right for you and your small business? The answer might surprise you.

A pop-up store is a retail location that does just that — springs up, exists for a short period of time, hopefully creates all sorts of buzz, and then disappears. Pop-ups of all shapes and sizes have been around for years (think: local Halloween stores that would sprout up in the fall).  There are also businesses that specialize in the pop-up market, like Vacant, which according to their site, helps find real estate opportunities for pop-ups, as well as design, construct and staff the space once it’s secured. But the lagging economy can also take some credit for the surge in these temporary storefronts, as some landlords, stuck trying to fill now long-empty storefronts and lack of interested new tenants, have been more lenient with their leasing.

But what does a pop-up store have to do with you? If you’re a small business owner, a temporary storefront might be a smart option to consider. Think about…

Seasonal Timing: If your business relies heavily on a particular time of year to thrive (a makeup artist during prom and wedding season, for instance) you might want to consider capitalizing on that by opening up a seasonally timed pop-up.

Commitment: If you’ve ever wanted to own a storefront, or are hoping to expand to a brand-new neighborhood, but are wary of a long-term lease, a pop-up might be a great toe-in-the-water solution for both of those scenarios.

New Products: If you’re working on a new product, utilizing a pop-up can be an innovative way to try out your fresh ideas on potential customers.

New Market: Exposing your small business in the short-term to a new market might mean big returns in the long-run.

Buzz: A great way to drum up buzz might be by opening up a pop-up, where you’ll be guaranteed at least a bit of local interest.

Prime Technology: As this Inc. article mentions, the advent of mobile technology has made it easier than ever for businesses to temporarily set up shop. “Tablets have become a weapon of choice because they let you use mobile point-of-sale systems. No need for a traditional cash register if you’re willing to take only credit and debit cards,” it reads. “This is opportunistic marketing at its best.”

These are just a few reasons pop-ups might work for your small business. But keep in mind: There is almost always risk with a new business initiative, so be sure to do your due diligence before committing to even a short-term lease.

Image: Bleacher Report

Micro businesses cite growth in revenue, customers for 2011

By | February 27, 2012 | Micro Business Insight | No comments

On the whole, micro businesses are a happy group and at the very least, they are optimistic about the prospects of their current business. If they weren’t, it’s like that their business would exist. But what about their revenue growth and their current customer base. Despite the uncertain economy, how have micros been doing in terms of real business?

According to a recent study of micro businesses done by Vistaprint, the answer is very well. Today the company revealed the results of its first “Small Business Happiness Index” for 2012. The index gauges micro business owner sentiment and provides information on topics that include their overall happiness, customer growth, revenue and a desire to continue to work for themselves, rather than someone else.

It showed that he vast majority (79 percent) of U.S. based micro businesses (businesses with between 1-10 employees) increased their total customer count in 2011. Correspondingly, 71 percent also saw an increase in revenue as a result. Both are positive signs for the overall economy as well as the micro business market, which numbers more than 25 million businesses in the U.S. alone.

In terms of optimism in running their own businesses, 64 percent of micro businesses are “extremely happy” or “very happy,” while 69 percent said that they strongly preferred being self-employed, rather than working for someone else. Both of these results were consistent with data from last quarter’s survey, not showing any marked rise or decline.

Some detailed numbers from the survey around customer growth, revenue and goals for 2011 included:

  • 87 percent of micro businesses met some or most of their goals for the year
  • 29 percent reported an increase of more than 30 customers, while 36 percent increased by 1-10.
  • In terms of revenue, 28 percent cited an increase of between 11-19 percent, while 25 percent grew by between 1-10 percent.

Micro businesses cited customer growth as the most important goal when asked about plans for 2012. According to this year’s survey, respondents said that the most effective marketing channel in driving revenue and customers in 2011 was word-of-mouth, garnering 54 percent of responses. Social media ranked second at 13 percent. Looking ahead to 2012, micro businesses said that the two channels they will rely on to increase their customer base will be referrals and direct mail. Both got 25 percent of responses, followed by website traffic at 16 percent.

Vistaprint conducts regular surveys with its U.S. micro business customer base, defined as small businesses with between 1-10 employees that primarily work out of their homes and generate less than $100,000 annually in revenues. This online survey was conducted from January 29 to February 6, 2012 with over 1,900 total respondents and a margin of error of plus or minus 5 percent at the 95 percent confidence level.

 

Small Business Owners — Are You Ready to Retire?

By | February 20, 2012 | Micro Business Insight, Micro Business Issues | 1 Comment

There is no question that you love your business. It is your livelihood and your passion and provides for you and your family. It’s also something that you probably devote a lot of time thinking of ways to improve it and raise profits.

retirementFast forward 20-40 years to your looming retirement. You probably have some grand plans for the days where you don’t have to strap on the tool belt, mix the cake batter or arrange a dozen roses. This could be anything from seeing the world to buying a boat or watching grass grow – it’s your retirement so we won’t judge.

Snap back to the present and your business and the thoughts swirling in your head. Are you preparing yourself for the day you retire or are you banking on Social Security to take care of you? If you answered the latter you should consider looking into retirement plans that are outside of the hands of a government agency and can be taken out of your paycheck pretax. Two of the more common retirement plans for small business owners are the 401(k) and the SIMPLE IRA. Below are definitions of the two plans:

401(K) – A 401(k) is a type of retirement savings account in the United States, which takes its name from subsection 401(k) of the Internal Revenue Code. A contributor can begin to withdraw funds after reaching the age of 59½ years for restrictions before that age. 401(k)s were first widely adopted as retirement plans for American workers, beginning in the 1980s. (Source: Wikipedia)

SIMPLE IRA – A SIMPLE (Savings Incentive Match Plan for Employees of Small Employers) IRA plan offers great advantages for businesses that meet two basic criteria. First, your business must have 100 or fewer employees (who earned $5,000 or more during the preceding calendar year). In addition, you cannot currently have another retirement plan. (Source: Department of Labor)

The US Department of Labor also offers a guide explaining all the options and tax implications for small business owners that is worth taking a look at to help make a decision on retirement options.

What are you going to do when you retire? And are you planning for it now? We’d love to hear in the comments below.

Image - 401K

How To Set Smart Goals for Your Small Business

By | February 1, 2012 | How To, Micro Business Insight, Micro Business Tips, Small Business Tips | 2 Comments
We have all heard the excuses for not setting goals, mainly people don’t see the value in taking the time to really  think about what they want to accomplish in the short-term and how that will affect  their long-term success.  As a small business owner, it is important to set goals as they serve as a guide in making decisions.

The excuses for not setting goals range from I’m too busy,  I know what I need to do, I have been doing it this way and it works or I don’t set goals because I am afraid I won’t reach them.  Here are 7 reasons  why goals are useful and worth creating:

  1. Contribute to the success of the company
  2. Set specific expectations
  3. Create clear measurable performance standards
  4. Self-motivate
  5. Focus on what is important

    We asked our Facebook Fans what their top business goal is for 2012, here is a word cloud of what they said.

  6. Boost job and personal satisfaction
  7. Help to prioritize efficiently

Goal setting might appeal to common sense, but sense in goal-setting isn’t very common. When setting goals make sure they are SMART goals, Specific, Measurable, Achievable, Relevant, Time-bound.

Specific: Goals must be clear and specific. Goals should say exactly what is expected, when and how much. When goals are specific, progress can be monitored.

Measurable: If goals are not measurable, then it is not possible to monitor progress toward successful completion. Milestones are important and should be recognized.

Achievable: Goals must be realistic and attainable, a little stretch is okay but a common mistake is setting goals too high, those types of goals are easy to ignore.

Relevant: Goals must be an important tool in the grand scheme of reaching your vision.

Time-bound: Goals must have starting points, ending points and fixed durations. Commitment to deadlines helps to focus your efforts on completion of the goal on or before the due date.

We’d love to hear why you set goals in the comments.

Additional resources for goal setting

Set Goals, WikiHow

SMART Goal Setting: A Surefire Way To Achieve Your Goals, Goal Setting Guide

 

3 reasons LinkedIn makes sense for small business

By | January 25, 2012 | Micro Business Insight, Small Business Experts, Social Media | No comments

This post originally appeared on Boston.com’s Small Business Blog.

Facebook and Twitter have long been the darlings of the social media world. Pinterest is starting to gain traction, while sharing sites like Tumblr, About.me and others have carved out a specific niche of users. One of the sites that’s often left off the list, but shouldn’t be, is LinkedIn. That’s because for the most part LinkedIn has been looked at as a networking site for consultants and job seekers only. And to some extent, that’s true. But did you know that LinkedIn has 135 million members and is adding an average of two new accounts per second?

The site has rolled out a number of new functions over the past few years, all with the aim of providing valuable resources for members to learn from but also connect with – including it’s update stream, skills and expertise section and LinkedIn Today news section. I recently spoke to Krista Canfield from LinkedIn who gave some insight on how small businesses find value in the site and the best ways to use it. Here are three key reasons every small business should consider having a presence on the site.

1. Company Pages

Similar to Facebook, LinkedIn has embraced the concept of the “company page” which allows a business to set up or claim a page and fill in the appropriate information about the owners, employees (who also may be on LinkedIn) as well as a link to their site and a list of their skills and services. As an added benefit, companies can list open positions that it is currently hiring for. Customers can also follow a business on LinkedIn to see its updates, while companies can follow clients to get updates on what they are doing, potentially giving insight into new opportunities.

But, when setting up the page, make sure you do it well, including filling out all of the fields. “The worst thing you can do as a small business owner is set up a LinkedIn Company Page without a robust description or overview of what your company does, then wonder why nothing is happening for you,” said Canfield. “Companies should also take advantage of the products and services tab on LinkedIn Company Pages, and try to get recommendations.”

While the sharing and conversation functions are not as robust or interactive as a Facebook – for instance there’s no “wall” on LinkedIn – that’s not really the point. A company page can ultimately act as another outlet for customers to find out what you’re all about. Which leads us to reason number two why LinkedIn makes sense for small businesses…

2. Enhanced Search Benefits

If you haven’t typed in your own name to Google to see what comes up, you’re letting the best in life pass you by. But as social media has taken off, so has its prominence in search rankings. Companies can now have a multitude of results pop up under a branded (or name) search, including their website, Facebook page, Twitter account and blog. LinkedIn is no different, as it is routinely coming up as a relevant search result in the major search engines. The more times you can pop up in searches for your business as well as search terms geared toward your business, the greater the chances you get a phone call or email from a prospective customer. LinkedIn gives businesses another property that can be crawled and indexed by the search engines that are driving so many eyeballs nowadays.

3. The World’s Largest Networking Event

Ultimately this is LinkedIn’s bread and butter and to their credit, it embraces this. Groups, connections, recommendations, messages and sharing all encourage users to not only see what others are doing, but reach out to one another and connect. But unlike Facebook, this is usually done with business intentions. For example, if someone wanted to open up a pastry business and get some insight from someone on how best to do it, you’re encouraged to do so on LinkedIn. Search for relevant terms, skills, education and even location to find a few people to reach out to. From there, it’s all about being personal. The site gives the opportunity to message others in a targeted way.

“It’s a great way to find other small business owners who may be facing the same problems you are” Canfield continued. “Members shouldn’t be afraid to reach out, but you should be personal and do your research to make sure you’ve got the right person. Reference things that can demonstrate you looked them up and make you stand out. The worst thing that can happen is someone doesn’t get back to you.”

But unlike an actual in-person networking event, there’s no “true” rejection. All it takes is an in-site message to potentially break the ice. If someone doesn’t get back to you, it’s not like you’re left standing on the outside of the cool group while holding your drink and staring at the ceiling. LinkedIn also gives the opportunity to join various groups of professionals, based on interests, skills and other criteria. It’s another easy way to engage with people you might not meet otherwise.

Finally, what’s one killer tip on how to get found on LinkedIn? “If you add a photo, you’re seven times more likely to get pinged or contacted on our site, so that’s something everyone should definitely have,” said Canfield.

 

 

Page 1 of 512345