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Extensive Research On How To Build Wealth From The Comfort Of Your Own Home.
Want Business Opportunities to Find You? Follow These 4 Steps on LinkedIn
Jan 13th
LinkedIn is a great tool to help you grow your company, find job candidates, attract key employees, even find a buyer for your business. Whatever your objective, LinkedIn can be a remarkably effective tool, yet is misunderstood and underutilized by most CEOs/entrepreneurs I talk with. Like any other tool, it becomes more effective the more you use it. But even a minimal effort with LinkedIn can position you to reap real-world results.
You do not need to know anything about “social media” to use LinkedIn. You do not have to tweet while waiting at the airport or post photos of your board meeting or family vacation. There is no doubt, the more effort you put into this business communication tool, the better results you will get. My objective here is to give you the very basics required so others can identify you as a potential partner, seller, employer, buyer, etc.
LinkedIn is my number-one tool when helping clients identify potential buyers (or sellers) for their company. It is also very effective when trying to identify potential partners for shared revenue deals. If you want these types of opportunities to find you online, here are 4 easy, yet very effective, steps to follow. No time? You can even delegate these to your admin or someone in business development. I’ll create a future post about how to find opportunities using LinkedIn (that requires more effort by you). For now, let’s keep things simple to get you in the game.
As mentioned, the key is to be “findable,” and that will be accomplished when you establish your profile. In our increasingly crowded online world (LinkedIn had 85 million users on 12/15/10) , you are relevant if you have a presence online, and out of touch if you do not. Here are a few simple steps that are almost guaranteed to help a business opportunity find you in the next six to 12 months.
1. Your title
Your title needs to accomplish two things. First, tell others you are the person who can make a decision about acquisition, JV, licensing, etc. Additionally, describe your core service capability.
LinkedIn allows people to search their entire database based on keywords and assigns greater relevance for certain areas of the profile. Your title is one of the most heavily weighted areas on your profile, so use it effectively and you will rank higher in search results for those looking for your service.
So, being the CEO of “a franchise development firm: The Franchise Builders” may sound redundant, but it is a very effective way to improve your rank when anyone is searching for the term franchise. Being the COO at Dimension Solutions does not help searchers looking for a program management company.
In 2010 we completed an acquisition for a client who was selling their company in the “program management” space ($14 million revenue). The acquiring company’s press release stated it was the most important acquisition of their fiscal year. This deal happened because I found their VP of sales while searching LinkedIn’s database.
2. Recommendations
Personal recommendations are not necessary at a C-level and may even work against you. Leave that to your business development people. If you are going to have them, however, be sure to have at least 5 percent of your connections as recommendations until you have over 20. To have 500+ recommendations and only 4 or 5 recommendations does not enhance your profile. (Additional thoughts by Chris Brogan on a good recommendation).
3. Connections
When I find a potential candidate with fewer than 50 connections, I seldom make contact. LinkedIn only has clout with those who recognize its capabilities and engage it as real business tool. If you have fewer than 100 connections, you probably do not use or value this form of interaction, so I’ll move on to others who do.
Christian Faulconer is the CEO of Franchise Foundry, a franchise development and investment firm. They are constantly looking for business ideas that could become the next great national franchise. Since locating him last year, they have signed deals and are developing two new franchise concepts they are very excited about. Those deals found him, because his profile was “findable.”
If you (or your admin) spend a few minutes each day finding those you are connected to in the real world, you will very quickly have 100+ connections.
4. Professional Photo
A search result will often provide dozens (or hundreds) of results. As an active user, when I scan for quality a match, my eye is naturally attracted to those profiles with photos (I seldom consider those without one at this stage). Your photo indicates how seriously you regard LinkedIn as a business tool. If it is a serious tool for you, I’m more excited to make contact and pursue business with you through this network.
Take a look at this search for Security Consultant. Which results will you click on to take a closer look?
Remember, LinkedIn is a social media tool, and social media is about connecting to others you don’t know yet and deepening the relationships you already have. A photo will help you accomplish that connection on a deeper level much more quickly. Keep it simple and professional and save the fishing, skiing and family photos for your Facebook account. (Additional photo tips here).
Your title and photo will take about 10 minutes to add to your profile. Building connections a bit longer, but just one successful business deal will provide a great return on time invested. I’m confident these steps will produce results and hope you will share your experience so we can all learn to be more effective with LinkedIn.
(For additional tips see the Slideshare presentation).
Want Business Opportunities to Find You? Follow These 4 Steps on LinkedIn
View full post on Small Business News, Tips, Advice – Small Business Trends
Top 5 Microbusiness Opportunities for 2011
Dec 31st
How can you tell a real business opportunity, one with staying power, from last year’s opportunity?
Some fields might seem hot right now but, for many, there’s a good chance that the real opportunity was over five months ago and the field will be totally glutted by February.
Then, too, the opportunities that shine like a beacon for larger firms might not work so well for microbusinesses.
So, how do you find microbusiness opportunities with staying power?
Microbusiness opportunities often build from everybody else’s opportunities. If one of the big trends to watch in 2011 is travel and tourism (at least, according to Entrepreneur.com), then the microbusiness opportunity lies in providing the personal touch–for example, via a B&B or by supplying the handcrafted soaps used by the local Big Tourist Hotel.
As I look over that Entrepreneur article, I see a lot of the same trends I’ve been seeing over the last couple of years. There continue to be business opportunities attached to Baby Boomers, social media, health care and clean energy, among other things. The big difference in 2011, though, will be not what you do but how you do it.
So, let’s start at the top.
1. Experiential products and services. This overarching trend will impact everything else in the consumer economy. This is not necessarily about changing what you sell, just changing how you sell it. People have, experts say, entered a new period of austerity … but not really. What it means is that people don’t want to collect stuff anymore. On the other hand, they will pay for experiences because they last longer — a lifetime, in fact. From a marketing point of view, that means you need to go beyond the features vs. benefits meme and focus on experience (emotional) over benefits (material).
2. For the technically inclined, mobile apps (and especially phone apps) for business are very hot. Added benefit: This opportunity is not anywhere near glutted yet. Microbusiness programmers might consider developing low-cost phone apps for their fellow microbusiness owners; that fortune at the bottom of the pyramid is not to be sneezed at.
3. Another technical B-to-B niche that’s very hot right now is Web apps for business, especially small business. Once again, if you can develop a product that is affordable for microbusinesses and will save them time or money, you’ll have that niche almost all to yourself. Too many developers chase the small business market but run from the microbusiness market, so the field is wide open.
4. Marketing services, believe it or not, are back and big but, once again, it’s all about the specifics. Social media is gathering momentum, and some creative people (like the folks behind Swipely.com) are combining it with e-commerce in interesting and profitable ways. The same goes for mobile marketing, which is still pretty leading-edge and has a bright future ahead of it.
5. This one is a bit of a blast from the past: fitness products and services are making a comeback. (I’m reminded of Huey Lewis’ Hip To Be Square.) People are still busy and always on the go, so the challenge here is to develop fitness products that can be used anytime, anywhere. Promising variations include small group training and home fitness products. Above all else, find a way to connect to your customers and make it an experience!
Top 5 Microbusiness Opportunities for 2011
View full post on Small Business News, Tips, Advice – Small Business Trends
How to Get More From Interview Opportunities
Oct 5th
One way many small business owners can promote their businesses is through interviews with local media and press to build exposure. The idea of being interviewed is exciting. It allows you to talk about something you’re passionate about (your business!) and build authority by showing off your expertise.
Like I said, the idea is exciting. The actual interview can be terrifying, especially for small business owners who aren’t used to hopping into the spotlight. But the experience doesn’t have to be scary. In additional to being a great way to attract new leads, it can also be fun!
As a small business owner, you need to learn how to get more from interview opportunities so that you can better promote your business and benefit from each interview you do. Here are some tips that have helped me benefit from interview opportunities in the past.
Research the interviewer: Assuming the interview is set up beforehand, you should know the name of the person you’ll be speaking with. Take some time to do a bit of research and find out who this person is. What other publications do they write for? What types of stories do they like? Who have they interviewed in the past? By finding out a bit more about the person you’ll be speaking with, you can show up feeling like you know the person. Chatting with friends is a lot easier than chatting with strangers.
Find what’s interesting about their question: Not all interviewers are good at interviewing. That means sometimes you have to find the interesting angle to the question they’re asking, even if that angle doesn’t totally answer their question. The point of an interview is to give the publication something interesting that they can use. Often I’m asked how my company Outspoken Media came to be. While I could run down a long story about how I met my business partners Rhea and Rae years ago and how I became tired of working for someone else, I don’t. Instead, I talk about the recession that affected everyone and how three gutsy women decided to launch a company in the middle of it–because that’s what’s interesting about us. Don’t be afraid to take an interviewer’s question and run with it if there’s a good story. Which brings us to…
Be a storyteller: When you’re being interviewed, look for instances where you can include short stories about your business or yourself as a business owner. Social media has served as a good reminder that people connect over stories. We connect when we can relate to someone and when we see a piece of ourselves in their tale. These are the strings that people will hold on to. Become a storyteller.
Be succinct: Whether the interview is for radio, newspaper or some form of online media, remember that the interviewer only has a limited amount of space. That means you need to make your answers fit within that slot. That means paying attention to the questions and making sure not to ramble, not to get sidetracked on unrelated tangents, and not to tell the long story when the shorter one will suffice. The long version is perfect for your mom. Have the succint version ready for reporters when they ask.
Prepare sound bytes: Because I have a habit of getting really nervous in interviews, I like to have sound bytes prepared for things I want to say. Whether it’s a product I want to mention, something my company is up to or just a few predetermined answers to questions I know they’ll ask, I always have a few responses stored up. Having these in my back pocket allows me to quickly get out my main message and ensures that I touch on everything I want to say during the interview. If there are three things you want to mention about your company during the interview, make sure you have them in your head. Part of getting the most out of your interview is setting yourself up to succeed before it even starts.
Make it a conversation: If you feel yourself getting overly nervous, stop. Stop thinking about this as an interview and think of it as a conversation with someone who’s interested in what you do. Imagine you’re in a coffee shop and someone leaned over to ask you about what you do, how long you’ve been doing it and what you’re interested in. If that happened in real life, you’d probably have a hard time containing your excitement while responding. This interview is really the same thing. It’s just you talking to someone about a topic that you love. So make it a conversation. You’ll be more relaxed, the person who’s interviewing you will be more relaxed, and you’ll remember all the cool things you want to say.
Those are some tips that have helped me to deliver better interviews. What words of wisdom do you live by?
How to Get More From Interview Opportunities
View full post on Small Business News, Tips, Advice – Small Business Trends
Small Business Internet Marketing- Opportunities To Take Advantage Of
Oct 3rd
| This is especially true as it pertains to small business Internet marketing. Here are several opportunities you should be taking advantage of if you own… |
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Lucrative Opportunities Of Social Media Management For Celebrities
Sep 24th
| Individuals can now earn a decent living by working with famous celebrities who are more than willing to pay quite… their social networks up and running. |
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Work Earn Make Money Online From Home | Business Opportunities From Home | Automated Money Making System | Make Money…
Sep 22nd
| Shaun Smith’s Automated Money Making System to Work to Earn and Make Money Online From Home through great Business Opportunities. |
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By-products Offer Some Seriously Overlooked Opportunities
Sep 21st
By-products Offer Some Seriously Overlooked Opportunities
This content from: Duct Tape Marketing
According to this entry in Wikipedia – A by-product is a secondary or incidental product deriving from a manufacturing process, a chemical reaction or a biochemical pathway, and is not the primary product or service being produced. A by-product can be useful and marketable, or it can be considered waste.
While the practice of creating products from a primary product’s waste (lanolin – from the cleaning of wool) is commonplace in manufacturing environments, I think there are some great opportunities for innovation through by-products lounging around in every business.
The key is to simply start leveraging everything you’re good at doing – even if it’s seemingly unrelated to your core business.
For example, if you’ve gotten very good at online marketing and social media use, why not set-up a series of workshops and teach your clients how to do the same? There are countless examples of businesses creating successful marketing or management systems and then turning them into products for their industry.
If you’re good at hiring super stars, good at lead conversion, good at technology, good at creating buzz, you probably have an opportunity to turn that skill into a by-product.
Some may think, “sure, I could create all these by-products, but wouldn’t that just divert my focus from our core products and services?” Maybe, but you may also find something that should be your core product. Jason Fried, co-founder of 37 Signals, tells a story about how his web design firm needed a project management tool so they created one for their own use. Clients liked it so much they started offering the tool to others and before they knew what hit them, they had created Basecamp and altered the direction of their business forever.
Another great reason to start mining your business for by-products is that it’s a great way to up your expert status. Even if your by-product doesn’t ever offer long-term revenue and profit possibilities, there’s a good chance you can leverage it to get more exposure. By taking a leadership role in teaching your clients or an entire industry how to do something well, you’ll open up opportunities for media exposure, industry event speaking, access to suppliers, and in all likelihood, the ability to charge more than your competitors for your core offerings.
This notion is so powerful it should be part of your marketing plan and Marketing HourglassTM
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View full post on Small Business Marketing Blog from Duct Tape Marketing
Startups find strong opportunities in 3 “big data” markets
Sep 13th
| Ken Elefant is a founding partner of VC firm Opus Capital (formerly Weiss, Peck & Greer… on internet infrastructure and software investments. |
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50+ Web Development, SEO, Social Media and Sales Job Opportunities
Aug 29th
| This week and every week, Mashable features its coveted job board listings for a variety of positions in the web, social media space and beyond. |
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MYFIRSTAFFILATEPROFIT.COM: Place for best home business ideas and opportunities
Aug 14th
| MyFirstAffiliateProfit.com is a site, where one can get the most popular home business/work ideas and opportunities. The company presents the reviews on the active… |
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