Home Wealth Project
Extensive Research On How To Build Wealth From The Comfort Of Your Own Home.
Extensive Research On How To Build Wealth From The Comfort Of Your Own Home.
Mar 29th
Place Profits – Google Places Domination For Local Businesses. Step By Step Tutorial And Videos Showing How To Achieve A Top 7 Spot On Google Places. Learn All The Secrets That Google Won’t Share! Perfect For Marketing Consultants And Small Biz Owners.
Local Place Profits – Google Places Domination For Local Businesses
Mar 26th
IBM and several other large corporations have launched a directory where small businesses can get listed to do business with large corporations.
Called the Supplier Connection, the site is open to U.S. small businesses.
If you are wondering what “small” means, it means your business has to have less than $50 Million in revenues or fewer than 500 employees. You have to provide products or services in chemicals, construction, consulting, financial services, auto parts, HR services, information technology, marketing communications, market research, printing, software or security (for the full list, see the Supplier Connection website).
Some of the large corporations that are involved along with IBM include JP Morgan Chase, Kellogg’s, Pfizer, Caterpillar, Citi, JohnDeere, AMD and Facebook. The U.S. Small Business Administration has also gotten behind it.
But Is It Realistic for Small Businesses?
When I first heard about this from Laurie McCabe’s site, I thought it was a great idea. I was excited and decided to try it out.
What I discovered is that the paperwork and requirements are daunting.
First, let’s talk about the paperwork. Bureaucracy is a huge barrier to growth for small businesses — even the perception of heavy bureaucracy is a barrier. According to the Wall Street Journal, one business owner reported that completing a Supplier Profile is “not a one-hour routine” but takes commitment.
Most small businesses don’t have anything near the 500-employee limit for this program — instead, think 5 employees. That is a much more common size for a small business. In a 5-employee small business, there’s rarely anyone you can assign who will have all the knowledge to complete the paperwork. The business owner will likely be handling the paperwork himself or herself, probably in the evening (since that’s the only time available).
Beyond the paperwork is the whole issue of whether you can meet the system’s mandatory requirements. I started filling out the application and managed to get through the first four steps out of 9, in 20 minutes. ”Hmm, that’s not so bad,” I thought.
Then I got to step 5, the Environment section. It stopped me cold. For instance, how many of you could say “yes” to the following?
In all, there were over 20 questions about environmental, ISO9001 and ISO14001 compliance, 16 of them required fields to answer.
Very few small businesses with under say, 20 employees, could say yes to the above questions. And what if you answer “no”? Well, you are required to specify the exact day, month and year when you plan to be in compliance. In our business we have no plans to create environmental policies and systems. Being an Internet publisher we shut off lights when we don’t need them, recycle paper and soda cans, avoid printing emails and documents unless absolutely necessary, and use power management options on our computers and other equipment. But we do not write corporate policies about those actions — we just do them.
Our suppliers (other small businesses and entrepreneurs) would laugh — or cry — if we asked them if they complied. There’s no way that even if we wrote policies and systems, that we could “cascade” that requirement to our suppliers.
So that was the end of my attempt to complete the application. I gave up.
Some Bright Spots
On the other hand, I do see positives with this program:
I urge IBM and all the other corporations involved to streamline the requirements to make them more realistic for small businesses. Otherwise, the Supplier Connection will be more about medium size businesses. And I’d love nothing more than to come back and update you that the application has been streamlined.
Supplier Connection: Will It Really Help Help Small Businesses Get Corporate Contracts?
View full post on Small Business News, Tips, Advice – Small Business Trends
Mar 21st
I don’t know about you, but I’m starting to get the feeling that the excitement surrounding the green business movement is starting to lose its luster.

Before I share some of the reasons why, read The State of Green Business from Kelly Spors, as it will help set the table for this post. While Kelly’s report paints a mostly positive picture about green business, I’ve been noticing a few hiccups as of late, including;
According to an article in The New York Times, taxpayers may end up being on the hook for almost a half a billion dollars. Solar panel manufacturers and sellers probably didn’t see too much of an uptick in business in the days and weeks following the Solyndra news.
Some say that Volt sales are slow because of the $40,000 price tag. Some say that it’s a combination of price and plug-in. The bottom line; US consumers aren’t flocking to showrooms to buy electric automobiles.
Toyota made a commitment to test the product, because it was in line with their zero-waste mission, but nothing came out of it; they didn’t buy Rapioli. It can be quite a challenge to convince a huge company to buy a cutting-edge green product.
The first green franchises that appeared were of the solar variety. The franchisors that set these new concepts into motion were based on the west coast of the United States, and most of the people that invested in solar franchises set their businesses up in places like California, Nevada and Arizona. One of the main reasons for these locations being first on the grid was the fact that there were, (and still are) financial incentives from the government for homeowners that had solar panels installed. That’s since changed, and for the better, as you’ll see on this Database of State Incentives For Renewables And Efficiency.
While it’s great to see more states offering subsidies to homeowners that convert their homes to solar energy, the up-front cost is still out of reach for most people. (Approximately $30,000) We’ll have to wait and see if the interest in solar energy remains strong, but more importantly, we’ll need to find out if wallets will actually start opening for solar panel installs.
I Believe
I’ll admit it; I get energized about the possibilities surrounding all things green. I like seeing an occasional wind turbine spinning silently along my local freeways. Once in a while, I see a house that has an array of solar panels set up, and it’s a good feeling to know that a few residents have taken it upon themselves to move towards energy independence.
It’s also a good feeling to learn that a number of small businesses have started to focus on sustainable practices. But, will more small businesses move in the green direction? And, can they?
I’d like to think so, but I’m not so sure. A lot of small businesses have had to downsize their workforces, and scale back on things like inventory, and operating hours. As the US economy continues to rebound, will small business owners be thinking about how to go green? Or will they be thinking about how to make up for lost time, and focus on increasing profits?
What do you think?
Golden Concept Photo via Shutterstock
Are Green Businesses Still Golden?
View full post on Small Business News, Tips, Advice – Small Business Trends
Mar 19th
When it comes to marketing a business the frequent complaint from small biz owners is that marketing rarely works or just isn’t worth the expense. For those business owners I offer the reasons below as to why that may seem to be true.

1.) You Try to Do It Yourself
Yeah, I know, you’d get marketing help if you could trust it, or afford it. Yes, it’s true that many marketing firms are beyond the financial reach of many small businesses. However, if you truly believe in the benefits of smart marketing there are professional resources that your small business can afford. You just may have to invest the time to find and qualify them. And, the better you’re able to qualify them, the more you’ll be able to trust them.
One business owner who knew the value of investing in marketing expertise was Steve Jobs. Apple incorporated on January 3rd, 1977, and within the year was running ads created by an outside agency. Great, creative marketing has been a driving force behind Apple’s stellar success ever since. As the very wise Anita Campbell, Founder of Small Business Trends, says:
“Business success is all about finding the right outside service providers and using them wisely. You can’t do it all yourself.”
2.) You Hire Marketing Help, But it’s the Wrong Marketing Help
Unfortunately, most small business owners don’t know what they don’t know, which makes it easy for them to be misled. It’s kind of a Catch 22. Because while they may be smart enough to know they’re not marketing experts, it’s very tough to be smart enough to know who is. Getting referrals helps, but it’s not enough. So, to know how to qualify marketing help here’s part one of a three-part series on it.
3.) You Don’t Have a Realistic Definition of What Success Is
“Success” can mean a million different things to a million different people. Plus, every situation is different. For example, if you’re offering a coupon or running a sale it’s easier to define success than if you’re rebranding your business with an upgraded logo, tagline or website. Obviously, that doesn’t mean that an upgraded logo, tagline or website is any less important.
My point is that the idea of “success” is something to be discussed upfront. This is where an outside professional perspective will definitively help. Because not only will they know more about marketing than you, but they’ll also have a more objective perspective. And, that objectivity is key. Assuming you’re able to come to an agreement about what a successful effort might look like you’ll then be in a much better position to move forward with confidence and try to achieve it.
It’s unfortunate how often business owners and outside marketing resources move forward without doing this and then end up equally disgruntled.
It truly kills me to see frustrated and jaded business owners struggling because they’ve never figured out how to resolve their marketing issues. Hopefully, this will help.
Failure Photo via Shutterstock
3 Reasons Why Businesses Fail at Marketing
View full post on Small Business News, Tips, Advice – Small Business Trends
Mar 19th
You may have heard of a flash mob: a group of people meet at a certain time and place and begin “spontaneously” dancing a routine. But what in the heck is a “cash mob?” And why are businesses all over the United States (and other countries) clamoring to get involved in them?

Cash mobs were first seen in 2011. The idea is to get people into local businesses to shop and support them. Consider cash mobs the people’s stimulus package, to help small businesses. Participants are encouraged to visit a particular business on a given day or time period and spend at least $10 or $20. Many spend more, and that’s exactly what struggling small businesses need right now.
Do Cash Mobs Work?
The proof is in the pudding: in Mount Clemens, Michigan, one business that participated in a cash mob there saw a 600% increase in sales over the previous weekend. Another doubled its Saturday afternoon sales as a result. People are waiting in lines that wrap around the block just to make a purchase in honor of the cash mob. There are dozens of other stories of small businesses seeing an injection of cash as a result of these pop-up sale days.
Why Do Consumers Flock to Cash Mobs?
In the same way that liking Pinterest is cool, being a part of a cash mob is, too. It’s being a part of a story, and people like that. Cash mob organizers are using social media to announce locations and get collective buy-in from consumers, who help spread the word to their friends on Facebook and Twitter. And supporting local businesses is always something that makes people feel good.
Get Involved in International Cash Mob Day
Thanks to the growing popularity of cash mobs (there are over 100 cities that have created them in the U.S.), March 24, 2012, has been designated International Cash Mob Day. If you’d like to start cash mobs in your city, here are some steps for doing so, as well as some general rules you can apply to your city’s cash mob program. Here are some other tips for getting started:
Cash Mobs: Flash Mobs for Small Businesses
View full post on Small Business News, Tips, Advice – Small Business Trends
Feb 27th

While most of us are still trying to move past Ramen noodles and dry cereal, there are plenty of businesses that have continued to live large in the face of a less-than-fruitful economy. The 10 businesses on our list have withstood the test of time and taxes, and are making serious profits in several unique industries. From internet giant Google to liquor stores and pawn shops, it’s encouraging to know that there’s still money to be made out there – Just not so much in real estate and motor vehicles.

Where would we be without the ability to instantly get the answer to “How to poach a chicken” or “Define cyborg,” and automatically see the most popular and/or reliable response? Google has become a necessity in the lives of most everyone these days, and with good reason. The vast innovations in cloud computing and page ranking technology made it almost instantly favorable over one-time search engine darling, Yahoo! And Google is not just a name or a brand – it’s a word that, because of their huge focus on the user experience , has become a commonly used verb (ie: “Hey, when is Daylight Savings?” “I don’t know, dude. Just Google it.”). Clocking in at $37.905 billion in revenue (and growing), Google Inc. didn’t start making money right away: It wasn’t until after they began auctioning ads that the big bucks started rolling in. But now that everyone and their mother wants an ad for their indie boutique to appear when you search for “super cute clothes,” combined with Google’s ever-growing arsenal of new products, they’ll be the pocket to pick for quite some time.

When times are tough, people tend to take to the bottle. Booze can warm your insides, provide false confidence and wash the pain of a bad day away (even if only to bring on intense brain pain the following morning). So it’s no surprise that the next two alcohol-related businesses on our list are still making money. Let’s look at liquor stores : An always-popular destination for friends and families during the holidays (The meaning of Christmas is Bloody Marys before noon, right?), liquor stores have thrived from being a home for liquid comfort/courage in the midst of tough times. And according to one store owner, he figures that “Because of the questions in the economy … [people aren’t] going out as much. But they are entertaining at home, so consequently a lot of the sales that maybe would go to a bar or restaurant is actually coming [to liquor stores].”And it’s true! While somewhat anti-social, there’s really nothing better than pizza, PJS and a big ol’ bottle of Pinot to ease the mind.

Except for maybe bottomless mimosas. Cheap bottomless mimosas. Or free Drambuie? Myopenbar.com is a website that points trendy poor people in the direction of cheap and/or free drink specials all over NYC. To date, they have more than 30,000 subscribers, but they’ve been trying to help folks find all-you-can-drink dives since 2005. It wasn’t until the recent recession that bars, restaurants and clubs started fighting for event listings on their site, as a recent study by the Nielsen Company claimed that people aren’t poppin’ bottles in public as much as they used to. Seva Granik, one of the company’s co-founders, told the New York Times in an email that “the bad economy is doing nothing but helping us. We’re probably the only company we know of that’s doing very well because of the downturn.” Cheers to that! Now where exactly can we get some cheap champagne?

But if you’re going to go out, get sloppy, and end up puking in a bathroom stall, you should at least make sure that your hair looks good when it’s being held back by a handsome stranger or equally drunk friend. Which brings us to another thriving businesses on our list: haircuts. ‘Cause if you can’t be rich, at least you can look rich, right? The Census Bureau recently reported that hairdressers, barber shops and salons are sprouting up all over the country at an increased rate of between 8-18% in certain areas. One of the reasons why haircutting ventures have continued to succeed is because “women may slow down with how often they get their hair done, but they’ll always get it done,” says one stylist. Another salon owner noted “it’s not like other industries where you’re trying to find customers. The customers are trying to find you.”

This is also the case when it comes to Pawn Shops, where people often shop around their used wares in an effort to make ends meet. Remember that ugly, gold antique broach your Great Aunt Linda gave you? Utilities are covered this month. The fully functioning weed-whacker that’s been collecting dust in your garage? That will totally sell for a week’s worth of groceries. According to a report “After the 2008 recession hit in the U.S. and Britain, gold dealers [especially] saw a boom in their industry, and the current financial turmoil in Greece has created a growing market for pawn shops.” Additionally, most people prefer cash to store credit when it comes to digging crap out of their closet, so income has remained steady. Spring cleaning Pawn Shop trip, anyone?

Of course, Google isn’t the only tech business staying afloat in a drab economic period (Obviously. The internet is what’s up). Dropbox, the cloud backup and virtual storage sharing space, has had success from housing a unique amount and style of mind share. As of last year, Dropbox had amounted more than 100 billion files and remained the clear front-runner in its industry. In a single year, they went from 5 million users to over 25 million users, each with at least 2 GB free space, by default. One article notes that “once you’ve installed it, you’re pretty much hooked, all you need to have a file uploaded and backed up on the web is to copy it in the Dropbox folder.” So just let us know when your best-seller is stored up in the cloud and we’ll be sure to give you our humble opinion.

Pew pew pew! Cha-CHING! Cha-CHING! Cha-CHING! That’s the sound of video games pulling in almost $40 million in 2010. The video game industry also makes an appearance on our list, with 6.2% growth between 2000-2010, and 8.3% forecasted growth between 2010-2016. Which proves that booze isn’t the only kind of entertainment people crave in a recession. Everything from consoles to controls to the games themselves are bringing in the big bucks. For the small price of one month’s cable bill, pretty much anybody can supply themselves with almost endless entertainment. And then there’s the … Oh. Wait what? Can you pass the Cheetos? I’m like, SO close to beating this level.

Believe it or not, despite the green issue no longer being a political issue (or so it seems as we find ourselves on the horizon of another election), people are still interested in investing in the well-being of Mother Earth. It’s not just Al Gore who sees the importance of solar panels and monstrous windmills anymore. Wind power and solar power top the list of environmental moneymakers, bringing in almost $4 million and $69 million, respectively. This puts the industry right alongside technology in the realm of growth, which is really good to know, considering how not winter-like this winter has been.

Try not to drop the soap when we reveal this next industry. Correctional facilities are now considered a lucrative industry, due in part to a growing population. More people equals more crime and more crime equals a need for more prison guards to make sure those criminals stay locked inside those over-crowded prison cells. And you know those phone calls that are “monitored and recorded for quality assurance?” Inmates. A lot of those customer service reps you have to have to fight tooth and nail to read you the directions you already read, are prisoners being paid to maintain a seemingly harmless job.

Rounding out our lucrative list are e-commerce sites and online auctions, where people engage on bidding ridiculous amounts of money on fake Van Halen t-shirts and dusty moo-moos from the 50s. Of course there are real gems on sites like Ebay, they’re just a little harder to validate. And you can’t deny that the excitement of winning that autographed Backstreet Boys CD (BRIAN 4EVR!) isn’t, well, exciting. It seems as if the element of suspense pushes people to spend more than they usually would, typically at the last minute. Some people even buy old-timey cars on Ebay – but those kinds of people probably aren’t worried about anxious over-bidding to begin with. And to those people we say thank you. Thank you for giving stay-at-home Mom’s something to do, other than clipping coupons.
View full post on Business Pundit
Feb 6th
It’s undeniable that small businesses today benefit greatly from the use of social media sites. Whether for promoting their enterprise, reaching out to clients and responding to queries from customers, regular networking efforts on social media indeed has its rewards.
A big chunk of entrepreneurs using Facebook, Twitter and so on belong to the small business industry. It should be noted, however, that even the Fortune 500 companies are also taking advantage of these sites.
Apart from the real time communication that the sites offer, it’s absolutely free to promote a business and keep in touch with customers. One does not need to have technical skills to be able to manage a social media account and this ease of using the sites is what primarily attracts business owners to use them.
Below we share an infographic design from Infographic Labs showing the latest studies and surveys on how businesses are using and benefiting from the top social networking sites. Recent figures tell only one thing – entrepreneurs regardless of the field they’re in will continue to tap social media for their marketing campaigns.
View full post on Business Pundit
Jan 25th
As the New Year begins, a lot of us are hoping to do better in our business than last year. And if last year did not meet our expectations, we are looking to improve things. Here are a few thoughts that have emerged as I battle to grow my business:

Get a Higher Goal
We all know how hard it was to start our company, get the product out and get those first 10-20 customers. Now, you are sitting at 65 customers and there is a little bit of money coming in. There is hope for more. You would be at a super comfortable income at 200 customers. Make sure you aim for a 1000 this year. If you don’t plan for a large enough target, you will find it a tough hike to 200 as well.
Get in Deeper
What can you do different for this higher goal? Let’s say you have certain marketing channels to promote your site/product. You are spending on online advertising, have a part-time sales person, are sitting on Twitter and have your web designer helping you with SEO. It’s time to become proficient at some of these things yourself. If you know that getting your site showing on Google will make a much more accelerated impact than making cold calls – learn some basics on SEO (search engine optimization). Take a course, ask people, see what your competition is doing. Sites like blekko give you detailed insights into what makes your competition rank higher on Google.
Get Some Uncle Scrooge in You
Are you still spending $500 per month on those banner ads? Have you calculated conversions on these particular ads to your site? Or is it just a black hole? Those customers you got last month could have come from word of mouth, not those ads. Make sure you measure every dollar that you spend on marketing. Early on, you might not have the cash to splurge on “brand building.” Spend the money if you know you are getting something out if it. I know, it’s hard at times, but you have to be a hawk – don’t give in to sharp sales pitches and good looking sites.
Get a Physical
When was the last time you checked in with your old customers? I know they are still paying you and hence happy, but make sure you know if something is hurting them, or if they are missing something that you could add easily. Also, keep an eye on Twitter, Quora and LinkedIn on what people might be saying about your product or the competition. You can also post questions on this forum to learn more about what you could do better. For the customers that left, send a gentle, personal email asking them what was missing.
Get Some Rest
Thinking of quitting? This might be because you are burnt out with all the effort and hours you are putting in the business. The only reason a business fails after getting to 100 paying customers is because the primary driver (you) did not continue long enough. Make sure you switch off for a few hours in the evening, go to the gym, take a trip or a vacation – you need a reset button. Come back and kill it!
Setting daily goals will convert some of the above ideas into habits that will ensure you hit your targets for this year.
Rest Photo via Shutterstock
5 Habits Small Businesses Should Adopt in 2012
View full post on Small Business News, Tips, Advice – Small Business Trends
Jan 8th
When we go to a party, we love to have someone show us around and introduce us to guests. So when the party is a social media platform, a newcomer would certainly dream of a host to make a platform feel more like home.
The perfect gracious host may be Chris Brogan (@chrisbrogan). At least that’s the premise of his terrific book, Google+ for Business: How Google’s Social Network Changes Everything. This book is the first one to provide a primer for Google’s new platform. It’s a needed tonic. Reportedly driven by Android sales according to Business Insider, Google+ now has 62 million users.
Chris Brogan is no stranger to social media advocates. Brogan co-authored the New York Times bestseller Trust Agents and wrote Social Media 101, which was reviewed here on Small Business Trends. He has a Top 5 Advertising Age Power150 blog, Chris Brogan, and is a featured Entrepreneur magazine columnist. I learned about this book while checking out publisher Que’s book list and requested a review copy.
Agreement of material and writer enhances instruction to grow Google+
The book’s structure is an interesting mix of product timing and author experience that works as the “baby-bear’s porridge” of information many small businesses seek – not too large, not necessarily shallow. Google+ is less than a year old, but Brogan’s writing style can make social media newcomers feel the access to the material.
Brogan’s established perspective contributes value to Google+ for Business, avoiding a huge problem I have seen in a few Facebook guides. Many books, regardless of being phone-book thick or car-owner’s-manual thin, are so bloated with Facebook features descriptions that tactical or strategic recommendations are flat-out overlooked. Add Facebook changes into the mix, and it can become a second job to infuse new material into your business plans.
However, Brogan’s choice to cover a nascent Google+ with his insights makes one awesome, just-right porridge. The usages for Google+ is explained with enough flexibility to fit within your organizational structure.
The first three chapters documents why Google+ is essential, while Chapter Four lays out first steps. This is where you’d want to start if you generally understand Google+ already.
The three chapters dedicated to Google+ features are:
Most of the other chapters provide corporate examples and solid organizational tips. Chapter 7 may be the most broadly applicable, as it focuses on content. But Brogan wisely differs from the “content is king” mantra by covering ideas by business type. He is spot on when he suggest to online store owners to “post profiles and interviews with the owners” as well as to tell writers, photographers, and artists to “start a Hangout.”
Insights made for Hangouts and Circles
Brogan ensures that his revealed experience and tips are tailored to the Google+ environment so that you appreciate the reasons for the recommendation. Take for example how he notes a key difference with Twitter against managing a Google+ circle.
“On Google+, different than Twitter, I decided not to follow everyone back who adds me. The reason is that the more people I add, the harder it is to manage the stream of information I choose to consume. You’ll come to your own opinions, and you’ll likely change them a few times.”
This is pretty basic but works well if the reader is starting to differentiate social media platforms. Brogan goes on to note some cool circle label ideas for a beginner – Local, Thinkers, Competitors, Vendors, Personal Passion, and so forth. And while content suggestions may sound straightforward, they do play into the benefits of the Hangout and Circles features. Brogan get an A for the homework he has done for Google+ for Business.
Brogan has written in past posts how businesses should “Make Your Buyer The Hero”, but in Google+, the suggestion is expressed immediately to the point.
“If you write about your products and how great you are, only you can benefit from that. If you create interesting posts with concepts and ideas for your community to take so that they can improve their own experience in life, you have something.”
The suggestions sound like they are only geared for newbies, but Google+ for Business can compliment deeper works such as Social Media Metrics and Digital Impact, as well as community building topics covered in Empowered and The Social Organization. Its tone can draw small business owners and corporate managers that still remain on the social media sidelines.
Brogan does share some steps for upcoming Google+ changes – most are from Brogan’s view, but he wisely limits suggestions just enough to not render the book dated for the future. Just like the Facebook guides, you may want to follow online sources for further updates (after this book’s publication, Google added a second admin capability to match up to that in Facebook Pages). But rest assured, the material will not grow stale as your Google+ abilities grows.
Your Google+ is a “Minus” if You Skip This Book
Google+ for Business is the right manual at the right time. It captures enough of the basics, but also offers great insights so you can make effective use of the new platform. In Digital Impact, authors Vipin Mayar and Geoff Ramsey reveal that social media users budget new platforms into their time online instead of replacing one with another. Well, if you plan to squeeze more Google+ into your social time, Chris Brogan is an excellent host that you would want to make you feel at home.
Or in this case, in Circle.
“Google+ For Business” Adds Great Tips For Small Businesses
View full post on Small Business News, Tips, Advice – Small Business Trends