A Day in the Life of a Social Media Marketer
Ever wonder what a full time social media marketer might spend their day doing? Well I did, so I was intrigued by this presentation, put together by a full time social media marketer about how she spends her day.
What the Heck Does She Do?
- Research
- Strategize
- Content Production
- Social Networking
- SEO
- Customer Service
Notice how much listening and responding plays into her day.
If you enjoyed this post, please consider leaving a comment or subscribing to the feed to have future posts delivered to you
Photo Credit:Pete Kim
10 Ways to Market Your Business When You’re Broke
All right, maybe broke isn’t the right word, but safe to say we are all looking for ways to maximize our resources. The following are ten absolutely free ways to market your business, the only cost being a little bit of your time.
1. Social Media
No surprise here. Social media is a great, free way, to spread the word about you and your business. Doing social media right is a great way to make connections, gain leads, and convert customers. I won’t go into great detail here how to get your social media presence set up, but at the very least consider getting an account on Twitter, Facebook, and LinkedIn.
2. Free Classifieds
Use free classified ad services to promote your product or service. Aside from big online classified ads (Craigslist), there may be other free options specific to your geographical area, maybe even some free inclusions in local print media. Do some Google searches and see what is available in your hometown.
3. Reciprocity Advertising
Talk to local business owners and explore cross promotion you may be able to do with them. They are probably in the same boat as you, and would be willing to work out a “scratch my back and I’ll scratch yours” type of marketing campaign.
4. Barter
You may think of bartering as particularly “old school”, but there is no reason you can’t trade a product or service with another business in exchange for some marketing opportunities. Trading an hour of your consulting time, or a couple free products to a local business who is willing then to plug you in their newsletter or mailings could result in a better deal than paying out of pocket for the same marketing. Start with the barter directory, and go from there.
5. Write a Press Release
Write your own press release and submit it to the appropriate channels. If what you’re doing is particularly newsworthy, send it to local media. Also submit your press release to the free services online.
6. Article Marketing
Write an article that is related to your product or service and submit it to eZine Articles. Try to be helpful, and prove you are an expert in your field.
7. Networking
Scout out free networking events in your area, you’d be surprised how many “meet-ups” there are. Not only are they a great way to get out of the house, but think of every networking event as a mini-marketing campaign. Use MeetUp.com to scan for opportunities near you. For example, there were 51 meet up’s in the Portland, OR area that were related to entrepreneurship.
8. Provide Stellar Customer Service
Make sure your current customers know how important they are to you and your business. Make them feel good about what you do. They will sell for you!
9. Ask for More Business
Going along with point #8 above. Don’t be shy about asking for referrals. Happy customers are your best piece of marketing you can hope for. Word of mouth marketing is powerful, and there is nothing wrong with asking them to spread the word for you.
10. Maximize Your Mailing List
What, don’t have a mailing list? Start collecting customer information so you can get one! Use this mailing list to push out information about new products or services, give a special deal to your mailing list, share information with them, etc.
If you enjoyed this post, please consider leaving a comment or subscribing to the feed to have future posts delivered to you
Unlock the Power of Twitter For Your Business in 3 Steps
The proliferation and growth of Twitter has been nothing short of fascinating to watch. People engaging in real time conversation, about what is of interest or important to them is healthy from an interpersonal standpoint, and a gold mine for marketers and business owners trying to expand their reach and customer base.
While Twitter could be called a toddler on the maturation scale – business involvement with Twitter is still very much in its infancy.
The fluidity, and speed at which information is being transferred is exciting and daunting all at the same time. There is little wonder with hundreds of thousands of people on Twitter, and millions of Tweets each day, you get the feeling of being overwhelmed by it all.
The good news is that integrating Twitter into your business model doesn’t have to be overwhelming or intimidating. The following three simple steps will get you on your way to unlocking the power of Twitter for your business.
The following assumes you have a basic understanding of Twitter. If you don’t, here is a good Twitter Manual to get you started. Read over it and come on back, we’ll still be here.
Step 1 – Listen
Think of Twitter as a real world conversation – because that’s what it is. You wouldn’t barge into a cocktail party and start talking only about what interests you, would you? Probably not. More likely you’d take the time to listen to the conversations and add your opinion, thoughts, or ideas on the topic being discussed.
Twitter is no different. Throwing out an unsolicited tweet that your company is offering a special deal has about as much impact as interjecting in a cocktail party conversation about politics that you love chess.
How do you listen?
Short of sitting in front of the computer and watching 100′s of tweets scroll across your screen, the main way you listen to the conversation is through searching Twitter for items that are of interest to you.
Searching is your gateway into the Twitter chatter, and an invitation to join the party. There are numerous ways to search, Twitter Search and Twitter Troll just to name a couple. For an extensive look at the search options available, have a look at the How to Search Twitter the Advanced Guide - go ahead, again we’ll be here when you get back.
The next question is what are you searching for?
You are searching for people discussing things that are relevant to you. Searching for your name, company name, products you sell (or would like to sell) and industry chatter are all a great way to start.
These are the conversations you want to join. These are the people you want to interact with.
Step 2 – Respond
After listening to the conversations of interest, it’s time to respond and enter the conversation yourself.
Again you are not just barging in, but adding to what is being discussed. This should be very easy since you’re following conversations of interest to you and your business, and your expertise in the area being discussed will have something to add.
When responding your first order of business is to ask yourself “where can I help?” Helping could mean passing along expert advice, addressing an upset customer, or giving an opinion of the topic at hand.
While we’re at it. If you find a customer who is unhappy with you, your business, or your products this is low hanging fruit in establishing the credibility of your company. Address these issues up front, and honestly. Take responsibility and make any wrongs right. You’ll go a long way in rebuilding the relationship with those customers and attracting new ones due to your stellar customer service.
Back to the conversation you are responding too. Much like the cocktail party, you are integrating into what is being discussed. Establish a presence in the conversation by being on topic – and always add value to the conversation before expecting the conversation to add value $$$ for you
Step 3 – Engage
The final step in the process is to engage. By now you’ve followed the right conversations, and woven yourself into them by responding and adding value. The last step is to engage others in the conversation. Remember as you have been listening and responding, others have been listening and responding to you. It’s time to engage your audience. Get them involved. Start new conversations with them by asking questions, soliciting feedback, or asking for advice and opinions.
Lather, Rinse, Repeat
And now the process repeats itself. Listen-Respond-Engage.
The more you do it, the more credibility you gain, the more you learn about your market, and the more you put yourself in the path of potential customers.
At this point you’ll start to see the true benefit from using Twitter for business. As an active Listener – Responder – Engager you will be able ot occasionally share the “Hot Deal” or “Once in a lifetime offer” with your followers and have them actually respond to it.
You’ve build the relationship with them where that is now appropriate. You can sometimes “help them” by “helping yourself” as well.
Summary
Like anything worth doing, using Twitter for your business will take time and effort on your part.
However, I am confident that if you consistently apply the three steps above you will see a direct, positive impact to your business.
There is opportunity to increase sales, acquire more leads, or have more satisfied customers. And as you get better at unlocking the power of Twitter for your business, it is very realistic to achieve all three.
If you enjoyed this post, please consider leaving a comment or subscribing to the feed to have future posts delivered to you
Drivers of Entrepreneurial Success
When you are thinking about starting a business it’s natural to ask yourself if you have what it takes to succeed. You see other successful business people and think “how did they get to where they are?”. Then you start comparing yourself against them, and your perceptions of what it takes to make it.
What Does it Take to Succeed as an Entrepreneur?
So what are the main factors in order to make it in business, or as an entrepreneur? Maybe you’ve thought that to hit the big time you need one, or all, of the following:
*MBA from an Ivy League School
*A great idea that nobody has thought of before
*Luck
*A “secret” weapon that guarantees success?
*Good looks
*All the above
There must be something right…I mean they are successful people, and if you haven’t even begun it can be pretty easy to assume they have something that you don’t. Keep reading.
The Real Drivers to Entrepreneurial Success
In a recent survey conducted by SurePayroll of small business owners and entrepreneurs, when asked “What are the drivers of entrepreneurial success?” they answered:.
1. Person’s drive and ambition 27.2%
2. Person’s passion for a specific business venture 14.9%
3. Hands-on experience in the industry 13.5%
4. Easy access to capital to start a business 13.1%
5. Personal connections 11.5%
6. Family members who are entrepreneurs 10.0%
7. Formal education 9.9%
If you’ve been sitting on that great business idea because you were second guessing whether or not you have what it takes to succeed, this survey should give you reason to rejoice.
I don’t doubt for a second that anyone who reads this blog on a regular basis doesn’t have drive, ambition, and passion.
If you’re thinking about starting a business – those top three should come naturally. And look how important they are in the minds of all those “successful” people that you have been comparing yourself too.
Does that change your outlook at all on what it takes to make it?
Let’s hear from you. Do you think the survey responses reflect the true drivers to entrepreneurial success?
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed (or by email) , and have future posts delivered to you.
Review: The Toilet Paper Entrepreneur
Over the past couple of days I’ve been reading Mike Michalowicz’s book The Toilet Paper Entrepreneur.
I have to admit, I immediately had a positive bias towards the book after skimming the table of contents…any book that has a section called “How to Blow Your Last $20 on Booze and Still Make Millions” has me hooked right away.
Mike’s Not Just an Author, He’s Your Buddy
Mike writes in an everyman kind of style that’s entertaining, straightforward, and downright enjoyable. I finished most of the book in one sitting, it’s that engaging. And while the it may be aimed at startups or those just going into business, the principals and ideas Mike lays out apply regardless of what stage your business is in.
Have a Beer With Mike, and Pick His Business Brain
What I like best about the Toilet Paper Entrepreneur is that it reads less like a “How to” manual on business, and is more like sitting down with a successful good buddy over a couple of beers to discuss how they built a business, and what you can do to start yours.
Mike provides numerous TPE Tips throughout the book, which are real world suggestions and ideas that you can apply today to help you succeed with your business.
Some will save you money (such as using Google Documents instead of expensive office software), others are nuggets of wisdom that will save your sanity as you take your business to the next level.
Take Action Now
As if the insight from Mike wasn’t enough, he ends every chapter with a Take Action Now set of items for you to accomplish. These are practical things you can do today, in less than 30 minutes, that put into practice what you just learned from the chapter. Worth their weight in gold!
Get a Swift Kick From Mike
Whether you’re just starting out or have been at this for years, Mike’s “get real” approach to business is a much-needed swift kick in the pants. In this book, you’ll discover:
- Why a business plan is a total waste of your time.
- Why fulfilling your own needs is the first and last order of business.
- Which three sheets of paper you need to successfully launch, manage and grow your business.
- How to get started in business with little or no money
- How to find and exploit resources that no one else knows about.
- How to stop procrastinating and take action NOW!
Summary
This is one of the most enjoyable business books I’ve read in a while, and think you’ll enjoy it too.
If you’ve been looking for that easily digestible book on business, or have a business idea but don’t know what to do next, this one’s for you.
Full Disclosure: The above is my honest opinion . I’ve received no compensation from the author for writing such a mushy review, although if he wants to send me some royalties I probably wouldn’t say no.
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed (or by email) , and have future posts delivered to you.
Really, We Got In?
Either by pure chance, or due to some unforeseen clerical error, Smallbizbee.com has been listed at Alltop.com!
Maybe the person reviewing applications has been pulling double shifts, and just approved everything that crossed her desk one day so she could go home early, but whatever the case we’re happy to be listed.
For those of you unfamiliar with Alltop.com and their service, they are kindly regarded as the “magazine rack of the internet”.
A creation of Guy Kawasaki Alltop organizes and categorizes “all the top” stories from around the internet, and makes them easily accessible to all of us.
With hundreds of websites and blogs listed in numerous categories I have long been a user and admirer of the information they make available. Not only can I find information relevant to my niche, but I’ve whiled away many hours perusing other topics of interest as well.
If you haven’t checked out Alltop.com, I would suggest you do. Find websites in your areas of interest, see what your competitors are doing, or even use Alltop.com as a way to drive traffic to your site.
Smallbizbee is listed in the Small Business Category, and we are waaaaaaayyyyy down there at the bottom, at least for now, until the error is discovered.
If you enjoyed this post, please consider leaving a comment or subscribing to the feed to have future posts delivered to you
How Positive Thinking Leads to Better Business
The following is a guest post is from Josten at www.ncwayoflife.com. I first “met” Josten through Twitter and he struck me as one of those people who always look on the bright side.
Some of you may remember him from the post he did on going the extra mile, well here he is again with his take on why positive thinking is important in business.
If you truly want to succeed, even more than you already have in your business, start thinking positive. Set new goals for yourself and your business.
I recommend visualizing daily those goals accomplished. If you cannot visualize them accomplished how will you be able to accomplish them?
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed (or by email) , and have future posts delivered to you.
Photo Credit: wavy1
Building Community – With Gary Vaynerchuk
It’s been a while since I’ve shared video, and thought I would share one from Gary Vaynerchuk’s talk at the Chicago Tech Report, which really resonated with me.
In this video Gary is talking about why building community is so important in doing business today. He also talks about why building community can give the “little guy” a leg up on the competition.
Small business has a distinct advantage in building a sense of community due to scale, and the ability to give a personal touch to our services. It’s not easy as Gary points out, building community takes hard work and long hours, but as Gary has proven it certainly can payoff.
How do you Build a Community? Become a RAT
- Real
- Authentic
- Transparent
Favorite quote from the video about what it takes to build a community:
You need to work your friggin’ face off!
Enjoy the video, have a great Sunday, and start thinking about what you are going to do next week to build your community!
If you want to see more keynote speeches from Gary, check out Keynotekid
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed (or by email) , and have future posts delivered to you.
Photo Credit: kastner
Twitter Fest Friday – January 23, 2009
It was a pretty quiet day in the Twitterverse today, at least in my little corner of it. But I still got some very good replies to today’s Twitter Fest Friday question.
The idea for today’s question was born more out of curiosity than anything we’ve specifically talked about on Smallbizbee.com in the last week, but something that I was pondering about my own experience with Twitter and thinking how it’s changed what I do.
Friday January 23, 2009
How has Twitter changed your business?
JoyMontgomery: @SmallBizBee No changes to business yet. A new place to meet people. I’m still just learning. http://www.structural-integrity.com/
=
=
![]()
mikehartman: @SmallBizBee Nationwide exposure @cindyHartman on air, guest of @deannatroupe, http://www.hartmaninventory.com/
=
=
pegkd: @SmallBizBee and to be me. Plus I learn SOO much from my fellow tweeple http://www.intuitiveevolution.com/
=
=
![]()
giazzpet: @SmallBizBee it’s help me raise awareness for our little faire coming up in June of 09 for Winslow Animal Sanctuary yay go Winslow! http://www.giazzworld.blogspot.com/
Thanks to all who took part in this week’s Twitter Fest Friday, we’ll see you next week!
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed (or by email) , and have future posts delivered to you.
Starting Your Own Business? Focus on the Fab Four!
Being able to assess the validity of a new business idea is a critical step in deciding whether or not to pursue it. There are only four areas any would be business owner needs to look at when considering a business and I call them the Fab-Four.
For those of you who took some general business and marketing classes in college this should look familiar. It’s more commonly referred to as a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis.
You should do a SWOT analysis from both a personal and business perspective, so work through each of these with that in mind.
Also, it may be helpful to actually lay this out on paper in a grid format. Kind of like the picture above. Write down your thoughts on each section and fill out a SWOT analysis for both yourself and your business. This can be a nice graphical way to see if you have more of one category than another.
Strengths
These are personal strengths as well as what you feel are the strengths of your new business idea. What are you good at? What will your business be doing that is unique to the market or will position yourself for growth? Business built around your unique strengths will have the highest chance for success.
Weaknesses
Conversely what are your weaknesses? Things you just aren’t good at or areas where you are not as strong as you’d like to be. Keep in mind these do not have to be permanent weaknesses, they could be things you don’t excel at currently but could learn to be proficient in over time. However there are some things we just don’t do well and may never do well – learn to recognize the difference.
Opportunities
Where are the greatest opportunities for your business? Are there untapped markets, or specific customer demand? Look at this from a personal standpoint as well. You may find some of your weaknesses presently provide opportunity if you could turn them into strengths.
Threats
Look for danger. Competition in the same market and niche as you is a threat. Fickle customer base for your products is a threat. The time, or lack thereof you have to devote to your new venture could be a threat. Do your best to think about the threats not only today, but 6 months to a year down the road. Does your business not currently have competition but due to low barriers to entry that could change in a few months? That would be a threat.
Analyze your lists. Are you light on strengths, and heavy on threats? Maybe your current business idea isn’t going to hold water. Are you overloaded with strengths and opportunity? Hey, you may be on to something then.
Know What You Control
An important point to keep in mind is that not all four areas of the SWOT analysis are within your control.
Only two sides can you really do anything about. Strengths and Weaknesses. You can play to your strengths and work at mitigating your weaknesses.
Opportunities and Threats unfortunately are out of your control. You can’t do much about competition moving into your business neighborhood. And where there are or are not opportunities have more to do with business climate and situation than anything you can physically change.
Keep this in mind when you are trying to decide if your business is good enough to launch. If you don’t see a lot of opportunities, or have numerous threats it will be very hard to succeed and you may want to pass on the idea.
However, if opportunity abounds and you have no foreseeable threats, don’t let a couple weaknesses stand in your way…you can fix most of those! Make sense?
Summary
This analysis can be done at any time, but it really puts into perspective how solid of a new business idea you have. Put the time and energy into realistically looking at where your strengths and opportunities lay, as well as what your weaknesses and threats are. Don’t get discouraged. Accept what you can change, and understand what you cannot. In the end you’d much rather find out on paper that your business idea needs some work than 2 weeks after you open for business.
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed (or by email) , and have future posts delivered to you.
Defining an Entrepreneur

Recently I received an email from a reader who was concerned that myself, this site, and the general population had become too liberal in their definition of what an entrepreneur is, and he was “totally offended”.
In his view an entrepreneur was somebody who “started with an idea and that’s it”. They “raise their own capital, develop the entire process, hit the million dollar mark and sustian it”. And he felt that only at that point do you truly “earn the term and the use of the title Entrepreneur”.
Interesting.
Webster’s Definition
Entrepreneur: One who organizes, manages, and assumes the risks of a business or enterprise
My Thoughts
I have to say that I agree a little more with the definition as defined by Webster, than I do the reader.
Putting monetary and somewhat elitist standards on the term, discounts those who are starting their own business, raising their own capital, and assuming the risk of business operations as something lower than a “true entrepreneur”, if certain standards aren’t met.
Jason O’Neill may have something to say about that.
Don’t get me wrong, I’m not challenging the reader’s measures for success. For some success may be just taking the first step with your business. For others it may be hitting the million dollar sales mark and sustaining it. It’s your goals, and your measures, and I’m not here to judge that.
What I can’t support is the idea that business owners, those who take the risk to startup, and those who assume the inherent business risk day in and day out, are not true entrepreneurs because they don’t live up to someone else’s standards.
Kids who start a lemonade stand are just as entrepreneurial as the hot shot startups, and I’m not going to diminish their accomplishments or tell them they can’t use the title of Entrepreneur.
To do so would be limiting, and to do so with anyone in business for themselves would be limiting as well.
The meaning of the word entrepreneur may be debatable, but nowhere in a definition will you find the phrase “limited to _____”, or the term “contingent upon”…and if you do, ingnore that definition.
So I’m going to keep on using the term as I always have on this site, and to describe you all. Of course all of this is just my opinion, and I could be way off base here. I welcome your thoughts on the matter.
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed (or by email) , and have future posts delivered to you.
Changing Priorities In My Classroom
I read a statistic that school teachers spend 90% of their time dealing with 10% of the kids in their class.
As you may guess the 10% are not the “A” students, in fact they are the students with behavior issues or other needs that require the teacher’s attention.
This got me thinking about my business, and my customers. My best customers, the one’s that are there for me, enjoy what I provide them, and benefit the greatest from my company, get the least of my attention. They are my 90% of my class.
Other customers, let’s say with higher demands, expectations, or “issues” receive the bulk of my attention. I try hard to turn them around, in order to become more like my “A” students. They are my 10%.
But what if I flipped it. What if I gave my “A” students 90% of my attention? Would they evangelize even more about what I do? Feels like I’m sacrificing the good of the whole for the benefit of few.
Doesn’t make sense when you think about it that way. I’d say it’s time to prioritize my attention. Focus on the “A” students, spend some time bringing my “B’s” to “A’s” and not worry so much about the relative few who are flunking my class.
I guess there are two ways to think about this though. How much more can I eek out of those who already think I’m great? Would they be willing to pay more for my services, or participate more? I’m not sure, but what I do know is right now I’m not giving them the chance to. I just keep on keeping on, with the idea that they are “A” students and will be just fine. May be time to change that.
What do you think? Who gets the majority of your time and attention?
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed (or by email) , and have future posts delivered to you.
Photo Credit: Night Owl City
Close Only Counts in Horseshoes
Sometimes well meaning businesses get close, they’re almost getting it right, but then get off track at one stage or another and end up worse off than when they started.
That was the case with a restaurant I visited a couple days ago for lunch, with a few friends.
Now before you think I am some sort of restaurant critic, I’ve gone on record singing the praises of restaurants who are getting it right. Truth be told the meal we had was excellent, and I am generally one of those people who find very little wrong with any meal I don’t cook myself.
The Story
The four of us decided on a fairly well known seafood restaurant in my city for lunch, many of us had been there at least once before and we knew it to be good, if a little on the pricey side. When we got to our table we noticed an advertisement for a “Lunch Special”, which seemed like good business for an upper end restaurant in a tough economy. Not only that, but the lunch special looked to be a great deal…entree, soup or salad, and beverage for a price that was about 1/2 of what you would normally pay. Two of us get the special, and the other two who like to spend money get something else off the menu.
Long story short, food arrives and it is as good as we remember, and we have a nice lunch chatting and catching up with one another.
The Problem
So far so good. We had a great meal, and (for two of us) for a great price. Waitress comes with the bill, and we ask if she can split if for us. Again, no problem. Bill comes back split four ways and we all plunk down our credit/debit cards. Waitress comes back, grabs our bills and heads off to cash us out.
Waitress is back to the table much too quickly, and with a concerned look on her face.
She notifies us that the “Lunch Special” is a CASH ONLY deal. If we don’t pay cash, we pay the regular price for the meals.
Anybody see a problem here?
I take a look at the advertisement on the table and sure enough way down at the bottom, in 2 point font, it says “cash only”.
None of us have any cash. In fact I mention that I can sometimes go months without seeing actual cash.
The story ends with us all paying with debit/credit, getting charged more, and heading out on our merry ways without further incident. It was slightly awkward and embarrassing as it was, and didn’t want to push the issue.
Observations
Hopefully you can see the glaring problems with this. Talk about turning a positive into a negative, and coming close but falling short.
Let’s recap what went wrong:
- Cash only
- Didn’t clearly explain what the criteria was in order to get a deal
- Since criteria was “hidden”, made the customer feel awkward and taken advantage of
- Had opportunity to explain the special, but didn’t mention anything about it being contingent on method of payment
- When it’s that difficult to get the deal, it makes you think if they really want to honor it or not
What Can We Learn?
Close doesn’t count. In fact just getting close can sometimes turn customers off more than if you never tried in the first place. Do you think I’d be writing this right now had we just gone in, never saw the “discount”, and paid full price for everything. No way! I’d be saying what a great meal we had.
- If you run a special, make it special! This business was running a special, but didn’t really want people to take advantage of it. It was more for looks I guess.
- Make it easy for your customer to know what they are getting, for what price, and what the terms are before services are rendered
- Make sure any specials you run fit your business model. Cash only at a high end restaurant makes about as much sense as Mercedes having a booth at the county fair.
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed (or by email) , and have future posts delivered to you.
Photo Credit:Paul Keleher
Advertising on the Edge

As we’ve spoke about this week there are a few things you and your business should be doing to position yourself for success during a tough economy.
I was happy to see the folks at The Economist agree with me that cutting your advertising budget is not one of those things.
Why do businesses cut advertising when times are tough?
- Because it’s easy
- Think it’s a good short term fix
What are businesses forgetting when they do this?
- Marketing is part of the solution, not the problem
- What they sacrifice now, they pay for later
- It can damage the brand
Brands that increase advertising during a recession, when competitors are cutting back, can improve market share and return on investment at lower cost during good economic times – Prof. John Quelch, Havard Business School
For more great ideas and thinking about what your business should be doing during the down economy take a look at the following presentation put together by The Economist.
If you enjoyed this post, please consider leaving a comment or subscribing to the feed to have future posts delivered to you
photo credit:tranchis
Do Women Make Better Entrepreneurs?
Do women naturally make better entrepreneurs? When it comes to dealing with the stress of a startup they just might.
In starting a business we all face the same challenges, right? From financing, to figuring out the most effective way to advertise and market, we are all in the same boat. There are numerous competing priorities, and this is no different for either male or female entrepreneurs.
Stress Less for Success
But, and this is where women get a leg up on their male counterparts, how women handle the stress of a new venture is decidedly different than men according to Karin Abarbanel (co-author of a new guide to starting a business called Birthing the Elephant: A Woman’s Go-for-it! Guide to Overcoming the Big Challenges of Launching a Business
When it comes to dealing with the emotional side of being an entrepreneur, women more often will recoginze the stresses and ask for help in dealing with them.
There’s a difference in how women respond to and handle the emotional roller coaster of launching a business – Karin Abarbanel
Feelings such as fear and axeity, common among those starting a business, are better dealt with by women according to Ms. Abarbanel. Recognizing and dealing with the stress an emotions seems to be a key difference between women and men in this reagard.
More Data
In a 2001 study done by the University of Dusseldorf, it was found that stress affected memory and retention to a greater degree in men aged 20-30 than in women aged 20-30. It is also generally understood, but less evidence exists to support it, that men deal with acute stress (think house fire) better than women, but women deal with chronic stress (think long term financial trouble) better than men.
Final Thoughts
I don’ think that anyone would argue that launching a new business is a stressful time. And how we deal with that stress will directly correlate to our success in the venture. It’s certainly food for thought for us guys. The next time we think about throwing a chair across the room because our financing fell through, maybe we should pause and think about what Karin Abarbanel says about dealing with stress and seeking out help!
I’m interested in hearing what you think. Do you think the ability to deal with stress more effectively give women an advantage over men when starting a business?
If you enjoyed this post, please consider leaving a comment or subscribing to the feed to have future posts delivered to you
















