What Every Entrepreneur Should Know about Marketing

Now that you’ve got a great idea and a great product, it’s time to start marketing it but not every entrepreneur knows how to do this effectively.  Marketing your small business can be exciting and manageable once you understand how to truly do it.  That said, it can get a bit overwhelming when you are just starting out.  There are millions of ways to market your business but consistent profits come from understanding what your market really is at the core and developing a strategy that will help you use all the tools available to market in a productive way.  It is essential that every entrepreneur have a solid marketing plan in place because if nobody is using your product, you can’t move forward with your business successfully.

First off, tell your audience what you do over and over again.  Marketing doesn’t happen in a vacuum; you have to keep talking to people about your product and service.  A lot of young entrepreneurs are reluctant to talk about the product they are selling as they may incorrectly assume people already understand what they do and what their goals are.  Consumers are inundated with information about new products every day and a lot can get lost in translation.  “Successful marketers understand that we all need to see or hear marketing messages more than once before we take action.”  Find creative ways to tell people what you are doing so they are excited to receive that information.

Next, go out into the marketplace and test your plan.  The only way you’ll know if something works is if you stop overthinking it.  Try focus groups.  Getting feedback from your key demographic is essential.  Ask people what they want to hear and what engages them.

Have a marketing goal in place.  Things such as social media and blogging are key to marketing success but they don’t get results unless you have a plan on how to actually use them to get those desired results.  Get clear and focused on what you want your marketing results to be.  Think long and hard about how many people you are trying to reach and figure out a plan to reach them.

Remember, it’s easier to sell people what people already want.  You can’t always explain how your product will revolutionize your customers’ lives without a strong marketing focus; it takes time for them to understand new products and services.  Marketing is about giving people what they want not about what you think they need.  Your customers simply want enough information to understand what you are selling.  Don’t inundate them with mundane information.  “As a marketer, your job is to create offers that appeal to your target customer and your bottom line.”  Give customers enough of what they want so they get excited but not turned off.

Be who you are.  While it’s wise to look at the competition and see how they are marketing, make sure you are marketing your brand in the most effective way that gets to the essence of what you are selling.  Make sure your customers knows how you stand out from others in your field.

Become an information source to your customer.  While it’s key to focus on what you are selling, give your customers real-time information that is of interest to them and lets them know you are a leader in your industry.

Avoid clichés like the plague.  As I’ve said, make sure you stand out.  Be original in the way you market.  You want to seem innovative to your customer base.  Don’t do what everyone else is doing.  Be creative.

Lastly and most importantly, go where the customers are.  “While trade shows, media coverage and the rest might be important, nothing beats customer interaction.  Don’t just blast out information with no interaction.  Customers will become loyal if they feel like you are talking directly to them.  For most people it’s not about buying a product, it’s about buying a feeling and what that product means to them.  Remember that it’s key to try to create a personal relationship with your customer base and target audience.

Here are some articles you might want to check out on what every entrepreneur should know about marketing:

“Practical Marketing Tips for New Entrepreneurs”: http://online.wsj.com/article/S60119NEEDLEMAN.html

“What Entrepreneurs Need to Know about Marketing”: http://smallbusiness.chron.com/entrepreneurs-need-marketing-56106.html

“80+ Tips for Entrepreneurs and Business Owners”: http://rescue.ceoblognation.com/2012/11/21/what-are-your-top-3-marketing-tips-answers/

“What Entrepreneurs Need to Know about Marketing”: http://yourbusiness.azcentral.com/entrepreneurs-need-marketing-8654.html

Until next time…

The Benefits of Using Shared Office Space

When starting up as an entrepreneur, cost savings is a big plus.  People often wonder whether they should save money by working at home but a great alternative is renting shared office space.  For those just starting up, “co-working is a great way to emulate the best parts of working in an office while still keeping your flexibility and freedom as an independent business owner.”  Working from home often can’t afford you the same opportunities as using shared office space.  Shared office space can offer you legitimacy while starting up your business without robbing you blind.  It allows you to enjoy the best possible advantages without having to pay a hefty sum.  This option is often ideal for small businesses where large space is not a necessity.

Shared office space is a budget friendly alternative to renting traditional office space.  Oftentimes, when you rent an office you might find it more difficult to find investors.  They might not be willing to take on the overhead of a traditional five plus year lease.  Additionally, when you rent office space on your own, you are forced to pay out of pocket for all the necessities – Internet, lighting, office clean up, building out a conference room, hiring a receptionist, etc.  The basic monthly sum for shared office space is way less than renting a traditional office on your own thereby saving you quite a bit of money.  Moreover, the deposit money which you have to pay is also on the lower side.  Some shared office spaces don’t even require a deposit.

Another benefit of shared office space is the availability of other amenities.  You can easily take advantage of these amenities for a nominal charge.  You can share Internet, telephone, conference rooms, reception areas and other relevant services.  Some shared offices offer “pay as you go” where you simply pay for the time you rent things such as conference room time.  Most amenities are available 24x7 and turn out to be highly beneficial for all people and companies using the features of a shared and serviced workspace.

One of the premier shared office spaces in New York City is Emerge212 (www.emerge212.com).  Emerge212 enables you to move into an office that is already fully furnished and offers all the amenities you need to get your business up and running quickly, amenities it would take you a great amount of time to get up and running on your own should you choose a traditional lease.  It offers high quality, modern amenities.  You are able to use pristine conference rooms, have a receptionist, a New York City mailing address and 212 phone number which is a huge advantage.  If you work out of your home to save money, you won’t find these amenities.  Oftentimes, it’s unwise to use your home address and phone number on a business card and makes you look unprofessional.  Emerge212 offers concierge services and onsite IT help should you need it.  Once you sign up, you can move in as soon as possible and start enjoying all the benefits they have to offer.

Emerge212 also offers virtual office space where you don’t actually have to rent space but can be afforded a mailing address, 212 number and receptionist services to make it seem to your customer base as though you are working out of a premier midtown Manhattan location.  The image you present to your client and customer base is key.  It often looks unprofessional to allow your clients to realize you are working out of a home office.  It doesn’t offer the same prestige.

Another benefit of shared office space is instant networking.  Working with others in a shared office environment can bring you connections you might not otherwise be able to make working at home.  Just the simple act of going to work and interacting with others on a daily basis can add value to your business and grow your customer base.  It is always key to be on the lookout for contacts that can lead to more business for your company.

Shared office space also allows for group problem solving.  If you’re stuck with an issue, the entrepreneur next door might have the solution you are looking for.  Co-working allows you to collaborate with others and solve business problems.  Others in your field that you might not otherwise meet by working at home can offer valuable insight into the way you run your business.

Working at home can often be isolating.  While people often think of the “water cooler” as a place to gossip, it can also be a place to learn.  It can introduce you to new people and new ideas.  If you spend time with others, they can offer advice and encouragement as you look to start up your business.  Being around other people on a daily basis breeds creativity.

While it’s a big decision as an entrepreneur as to whether or not to rent office space, using shared office space is a great alternative in terms of money savings and real, concrete pristine amenities.  While it might cost you a little more than working from home, the benefits of a nominal fee far outweigh the negatives of working from home.  Being able to present an image that you are working out of a premier New York City office space sends off a strong image to your client and customer base.  I urge you to consider these shared office spaces as a great, inexpensive alternative to working from home.

Here are some articles you might want to check out about the benefits of shared office space:

“How to Save on Office Space for Your Small Business”: http://www.forbes.com/sites/capitalonespark/2013/01/10/how-to-save-on-office-space-for-your-small-business/

“The Rise of Co-working Office Spaces”: http://blogs.hbr.org/cs/2012/09/the_rise_of_co-working_office.html

“Is Shared Office Space in Your Future”: http://sbinformation.about.com/od/office/a/officespace.htm

Until next time…

Creating a Successful Business Newsletter

When done properly, a newsletter can be an enormous asset to your business and its marketing efforts.  The number one reason to have a newsletter is customer and client engagement.  There are two kinds of newsletters: those that get read and those that get tossed.  A newsletter needs to capture the attention of your audience and potential readers and the best way to do this is through its design and content.  Think about curating a great subject matter for each newsletter and it’s more likely to be read.  So how to create a compelling newsletter?

First off, make your newsletter’s name an attention grabber.  Don’t focus the title on your company’s name; focus it on its content.  Think long and hard about what the article is about and come up with a great name.  Try to sum up the meat and potatoes of your newsletter in its title.

Write your newsletter articles objectively.  While you want to have a strong opinion and point of view, you don’t want to alienate readers.  That said, your newsletter shouldn’t read like a sales brochure.  A strong newsletter should provide useful information to your audience that will make you look like a market leader who understands what is going on in your field of interest.  Base your articles on factual information.  “When you insert opinions into your stories, make them into quotes and attribute them to the proper people in your organization, just like a newspaper would.”

Write to express not impress.  The purpose of a newsletter is to communicate.  Keep your writing casual and conversational.  You don’t want to use language that seems foreign to your audience.  Sometimes it’s best to write as if the people reading it have never heard of the topic before.  You don’t want to confuse them with big words and the intricate language of your marketplace especially if they are not familiar with it.

Proofread as many times as you can.  You don’t want your newsletters to have any typos or grammatical errors.  Think of it like a resume you might send prospective employers; it has to be perfect.  Your newsletter represents the professionalism of your company.  The writing should be polished.  While oftentimes mundane, proofreading, revising and rewriting newsletters are critical to their success.

Use front-page articles to draw in readers.  Prospective readers judge a newsletter by its cover.  It needs to be exciting and engaging.  If the front page doesn’t contain useful articles, most people will quickly glance at it and throw it away.  They might even consider it to be junk mail.  Articles that are important to your business aren’t always important to your consumers.  While articles announcing important upcomings of your business are key, they might be better suited on the second page.

Use at least one graphic per page.  Making your newsletter visually attractive to your reader makes it more likely that it will in fact be read to begin with. Graphics can include photos, artwork, charts or even large quotes.  Graphics are important because it draws in the reader’s eye. They also provide much needed visual breaks from solid blocks of text which can seem boring to readers and can lead to not holding their attention.  “A page containing nothing but row after row after row of endless text does not look inviting to read.”  Making your newsletter visually pleasing is key.

Use colors and tints to make your newsletter more eye-catching.  While color can be more expensive than black and white, try and throw in as much color as your budget allows.  Remember newsletters compete with colorful magazines and larger papers.  “A splash of color on your pages will make your newsletter much more visible to prospective readers.”

Print your bulk copies from electronic files not from paper originals.  Using paper originals can leave blotches and marks.  Using electronic files makes your newsletter as clear and clean looking as possible.  This improved quality will translate into sharper images, photos and graphics.  It will also make the appearance of your newsletter crisper.

Have something to say; don’t just say anything.  Offer tips, strategies and expert advice that is of value to your reader.  Keep your newsletter simple and focused.

Lastly and most importantly, remember your audience.  Don’t forget who you are speaking to.  Design your content around the people reading your newsletter.  If they’ve signed up for it, there’s a specific reason.  They want to know about certain things and don’t forget that.

Here are some articles you might want to check out about creating a business newsletter:

“Creating Newsletter Content”: http://www.entrepreneur.com/article/78544

“5 Secrets of a Great Newsletter Business”: http://www.inc.com/5-secrets-of-a-great-e-newsletter-business.html

“Six Tips to Creating a Newsletter that Works”: http://under30ceo.com/six-tips-to-creating-a-newsletter-that-works/

“23 Things to Consider When Creating a Business Newsletter”: http://contentequalsmoney.com/23-things-to-consider-when-creating-a-business-newsletter/

Until next time…