6 Surefire Ways to Use Social Media to Grow Your Business
Apr25

6 Surefire Ways to Use Social Media to Grow Your Business

Social media is a powerful marketing tool for entrepreneurs, bloggers, business owners, and self-published authors. Popular sites like Facebook, LinkedIn, Twitter, and Instagram have changed the way we market to our customers, by allowing businesses to reach them directly.

When it comes to growing your business using social media, there are some best practices. Here we share a few ways to use social media to grow your business in the African American community.

1. Be consistent

This is our number one tip for a reason! Your blog posts should be well-thought-out and scheduled to keep an active blog, well—active. Your social media should also be scheduled to ensure you are posting often. Sticking to your plan and being consistent will go a long way to making your brand look professional.

2. Tailor content to a specific social platform

Managing several social platforms for one brand, it’s important that you give each site its own personality. Although you can share the same blog on various platforms, you should format your posts to the site you’re posting on.

For example, you shouldn’t use hashtags on LinkedIn, but you should on Twitter and Instagram.

3. Push the most on the networks that you get the most engagement on

If you see one social network is getting more attention than your other social networks, then put the most time into growing that network. Some networks are going to work better than others for your brand, and it’s important you go where your audience is.

4. Write good content

The best way to get traffic to your website is to write engaging content that your audience can relate to. It’s better to have one potential customer than one hundred followers who aren’t interested in what you have to offer.

5. Balance your posting between business and fun

It’s important to mix both business and fun social posts into your marketing plan. Although the fun posts may attract more people and get more likes, the business posts will attract potential customers. Having a balance of each will keep your brand fun and informative.

6. Celebrate events and culture

A good way to engage African Americans is by posting about African American events and culture. You could host a giveaway or a contest pertaining to the event to push engagement. A few upcoming events you should keep in mind:

  • African American History Month: February 2017
  • African American Day Parade: September 17, 2017
  • Kwanzaa: December 26, 2017

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Avoiding Fraud In Your Business by Pierre DeBois (TEW3 co-author)
Aug17

Avoiding Fraud In Your Business by Pierre DeBois (TEW3 co-author)

Many times small businesses struggle with fraud but never talk openly about its impact.

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Featured Co-Author, Pierre DeBois (row 2, image 2)

If you are an entrepreneur reading this, you have to admit being taken advantage of is a difficult subject to talk about when everyday it seems every business owner speaks of passion,  striving to grow their enterprise through a never-yielding passion supported with a positive attitude.

The idea that you must be passionate to grow your business is essential. Even Steve Jobs recognized the value of passion end of the session he had with Bill Gates and a Wall Street Journal panel. He mentioned that password is important because you have to be insane to stick with all the ups and downs I can come from running a business. A significant “down” that can happen is encountering a fraudulent customer or, worse, a fraudulent partner.

I mentioned this as a part of chaos in my chapter for the book TEW3 (Chapter 6: From the Chaos of a Startup To The Calm of A Profit) but I didn’t delve into some details. This post will explain some of that detail , and hopefully help you understand what you need to do to minimize fraud to your best of your abilities.

I can speak from experience because of a unique gift with analytics – metrics have to tie back to marketing strategy, which then connects with what is being offered. This means having to know if a business operates with integrity or if there are serious concerns.  Not all problems means that there is fraud, but certain problems should not be ongoing. A business that has no cloud-services to invoice customers may be fine the first year, but it is extremely telling when it is the same situation in its 13th year of operation (I’ve encountered that; The business no longer exists).

The first thing to keep in mind is that fraud WILL happen. You have to expect it; It’s just a question of when. Fraud usually happens in a situation in which people are not working systematically.  If you are a solopreneur, you’ll encounter some folks who will try to get over by asking for endless favors. In retail, some people will try to steal inventory when there is no tracking system to protect products.   Without a tracking systems, the degree of fraud becomes a slippery slope. One favor becomes many; One product becomes more.

In my chapter for TEW3 I noted a couple of examples of tracking whether it through accounting or even through analytics . I recall helping a potential client discover that their website did not have the analytics have installed as described. The unscrupulous vendor kept telling them that they had data and metrics and reports . The client had never review those details and had trusted the vendor to provided entirely.

So here are some simple ideas to keep in mind as you begin to work with clients and partners who work up to standards, not below them.

  1. Be Systematic

So in trying to prevent fraud your best bet is to think about how you can be systematic in your business.  One great way is to vet potential clients that come in. Many starting entrepreneurs try to have everyone and their momma as a customer. The fact is that not every revenue turns into a lifelong customer.  Having a set of structured questions with essential answers will keep directing the right clients and prevent the wrong clients from entering your business.  You can even use those question on your website – Zimana, for example, has a set of standard questions, meant to help small businesses frame their needs.

  1. Put It In Writing and Back Up

Once a customer has framed a need, PIIW – put it in writing.  Make sure that the work supports what both parties agreed to. Project creep may not be fraud intended – some projects, such as app development, can beget other changes that require work.  But auditing how work is completed on a weekly basis will provide a means to make sure no one is straying from the initial intent, preventing fraudulent inclusion of work on DL (that’s down-low for the slang impaired!).

  1. Can The Partner’s Business Model Be Explained Simply?

When addressing partnerships, ask good questions on how they are delivering on their business model and if they are consistent.  A business model is a formal way of just asking how a firm makes money when it services a client.  Everyone can describe what they do; few can describe it briefly to make sense.  One personal rule I keep is that a description should fit within 3-4 sentences what their business model is.  No big pitch, just a simple answer to a main question – what is it that they do that generates money within that business. If they can’t describe it within 3 to 4 sentences or a similar set of response, chances are something is missing. They may not have expertise in marketing their business or an innocent misunderstanding how to present the business in a discussion.  But fraud usually mean involves a poor wish-washy overemphasis on selling without a focus on how to operate. The day of elaborate sales pitches are gone.  Get to the specifics and see how upfront and ethical partners are.

  1. Know where to report fraud

The FTC is a great place to report fraud activity.  There’s a site that explains what consumers can do to avoid fraud.  It’s also a good read for small business owners to know how to handle customer and partner complaints. You can check out the site at https://www.ftccomplaintassistant.gov/Information#crnt&panel1-1.

  1. Watch out for false social media fans and followers

Finally be leery of businesses that have a lot of social media followers on their profiles but no engagement.  Inspect pages and see if there is some level of activity in communicate to others – I mentioned about consistency in advertising in my chapter.  Unfortunately there are a number of services available where businesses can purchase fans and followers to look much more influential. Don’t fall for it.

Always protect your credibility, so you can protect the customers and partners who are ethical and will attract other worthwhile people as well.

 


 

 

[TEW] is a tribute to and a reminder of our community’s commitment to not just inspiring others, but taking actionable steps to turn our dreams, talents, and abilities into fulfilling, successful businesses + helping others along the way.  If looking for a supportive community for entrepreneurs that do even more work than they talk, unleash the entrepreneur within you and join us! #unleashtheBiz

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Time to SHIFT!
Jul28

Time to SHIFT!

#‎transparentTuesday‬

[In my last corporate position, I worked on a very small team; in a non-profit trade association. EveryoneTEW33x6 in the office had many different positions boiled down to one ‘job’ since it was small; and their funding was not that vast. I was a personal secretary to my executive director, and did all things with excellence; however in the last few years there he pressured me to become the ‘bookeeper’ and learn the accounting practices that scared the mess out of me.

I did most of the work with dedication and with the best resources I had. I took my time and tried very hard, but my work was never satisfactory enough. There were many accounting classifications and codes that I did not understand, and rather than teach he would simply yell and berate me. Those specific tasks above all of my other work and responsibilities did not meet his expectations. B.S. pink slips, write-ups and extreme pressure simply led me to seek other opportunities, and that is when I fully pursued my freelance design business.] Someone asked what one of the most challenging times of my career was today; and I just had to share. If you do not “FIT” where you are, or things simply are not working; then SHIFT.

Feeling very grateful that I now fully understand that concept of ‘shifting’ when needed.

Learn more about these experiences, and the experiences of many, in TEW – Volume 3!

 

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The Art of Corporate Gift Giving in an International Business
Jul18

The Art of Corporate Gift Giving in an International Business

 

The majority of businesses give gifts; these may be at specific times of the year; such as Christmas or at annual celebrations. Research shows that mostaa of these gifts are issued to business clients; this is to cement the commitment each business has to each other and continue to build on their existing relationship. Long serving employees or those who have performed exceptionally well also receive gifts. Most businesses also give gifts to prospective new customers.

There is limited research into the effectiveness of gift giving as an incentive to new customers but the studies which have been completed show business which give gifts do gain more customer enquiries.

Gift or Incentive?

A gift must be seen as something which is unexpected and delivered spontaneously. An incentive is a designated prize or gift for achieving a specified goal. It is important to know the difference as one is used to motivate employees whilst the other builds relationships.

Ethics

Different businesses have different rules regarding giving and receiving gifts. This can be particularly true when dealing with different countries and different lifestyles. There are also tax implications of certain gifts or value of gifts and you need to be aware of these. There are several occasions when you should never give gifts as they may be misinterpreted:

  • During the bidding process; a gift may be considered a bribe
  • Expensive gifts can send the wrong message and question both the business and the receiver’s motivation. It will also be likely to fall foul of modern gift regulations.
  • Gifts given publicly can cause embarrassment, particularly if they are inappropriate or provide the wrong impression.

Giving the Right Gift

It is very easy to give a gift which will cause more harm to a relationship than good. It is important to stick to the following guidelines:

  • The gift must be appropriate. This is not a matter of cost but rather of whether the gift will be gratefully received by the recipient. If you attempt to use a gift to break the ice with a new client it is likely to backfire. Gifts should be given no more than two or three times a year and should never be excessively lavish.
  • The gift should be relevant to the receiver, this way they will both appreciate the gift and the effort undertaken by you.
  • Timing is essential. A gift should only be given when there is a solid reason; preferably one that recognizes the value of the relationship. This could be the anniversary of a business relationship or their birthday.
  • Present the gift nicely. After having put some serious thought into what gift to give you will need to present it nicely. This includes deciding whether it is more appropriate to mail the gift to their work or home address; it may even be better to deliver it in person.

The Gift

Knowing how to give and when to give is not enough! You must also choose what to give.  There are many options and the following are some of the best:

  • Food items, particularly baskets can be a good choice as they can be enjoyed with family and friends. However, some of the selections can be very bland and not speak directly to a person. A little more thought may help. It is also worth considering whether the gift will get past the receptionist or whether it will simply feed the admin staff!
  • Alcohol has always been a favorite gift although it is imperative to pick something that the receiver will enjoy. This is a gift which should be bbconsidered carefully, wine or whiskey collectors will appreciate a good bottle, other people will not.
  • Tickets for sporting events can be an excellent gift. As long as your client has an interest in the show or event it will be a great thrill and a great gift. Provided you pick an event they will actually enjoy!

Whatever gift you choose it is essential to think hard and choose the gift carefully. The gift must be something that the recipient will like, not something that you like. If gifts are not appropriate it may be worth making a donation on their behalf to their favorite charity.

By John Smith and VeritasGifts.co.uk!

 

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Business Negotiation Doesn’t Have to be Hard: Read these 7 Tips
Jun09

Business Negotiation Doesn’t Have to be Hard: Read these 7 Tips

 

Negotiation is essential in business. Even if you hate the idea of negotiating or do your best to avoid the whole process it is a skill which you will need in order to become successful.  Many negotiations will make you feel overwhelmed; you may even see yourself as David against Goliath. However, it is possible to tackle any negotiation and for both parties to be happy with the result. The following tips will enable you to get the right result:TEW3 is coming this July! Stay tuned.

  1. Focus on making a good first impression

Research has shown that the first five minutes of any meeting can decide how the whole process will end. In the first five minutes you should be looking to assess the mood of your opponent and adopt the same mood. You need to come across as likeable so that the other party will listen to your arguments. The easiest way of achieving this is by talking and letting him see a little insight into you personally. Connecting with the other party on a personal and emotional level will make both parties more inclined to find a mutually beneficial outcome.

  1. Start high

The first offer is very rarely accepted and it is imperative to start higher than you want or need to get. The higher the initial figure the more your opponent will focus on the worth of these figures; this should leave you plenty of room to maneuver. A high starting point will also allow you to come down a little and let the other party think they have come away with the better deal.

  1. Make the first offer and prove your determination

As with starting high an offer on the table becomes the anchor point. This is the starting point to which all discussion will centre around. If you have made the first offer, and gone high, you are likely to obtain a better than expected outcome. It also shows the other party that you are confident – whether this relates to a product or to your own worth and this will help prevent them from attempting to walk all over you.

  1. Negotiate with passion

Emotions do have a place in negotiation. A heated argument is not an acceptable tactic and will invariably lead to the failure of the negotiation. However, letting the other party know you are happy with an offer by smiling or frowning if not. Showing emotion in the right manner will ensure your opponent reconsiders their offer, particularly as it will show you are passionate about the subject.

  1. Stay energized with coffee!

Studies have shown that the more caffeine you consume the less likely you are to change your position. This is one way to ensure you do not easily give in to their demands. This should result in a better offer than you may otherwise have accepted.

  1. Value the time you have available – use it to your advantageaac

An important tactic in any negotiation is too subtly point out that time is running out. By advertising the offer is only on the table for a limited time you will place pressure on the other party. It is human nature to want what you cannot have and this is true in any negotiation. If you threaten to take it away they will want it.

  1. Back up your claims with solid data

Data can be used to back up your argument. Whenever possible you should do plenty of research and amass as much data as possible. The more proven data you have the harder it will be for the other party to argue with you. The data must be factual correct and from a good source or the negotiation will be detracted into the quality of the information. An abundance of data shows the other party that you have done your homework and know what you are talking about. The data supplied may even address many of their concerns and make the whole process simpler.

As you can see, business negotiations are not that hard when you know what you’re doing. The key to landing the best deal is to enter meetings prepared. Be ready to face all kinds of challenging situations, and don’t run away from a win-win. Believe it or not, sometimes win-wins are a lot better than no deal; of course, this doesn’t mean that every deal is a good deal. In special circumstances, walking away may prove beneficial.

By Davis Miller and TheGapPartnership.com!

 

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