Daymond John: Follow Small Business SHARK Points

DaymonINterview 1024x819 Daymond John: Follow Small Business SHARK PointsAt InfusionCon 2013, we had the pleasure of featuring Shark Tank investor and FUBU CEO, Daymond John, as a keynote speaker. He shared his entrepreneurial success story that took the audience through his humble beginnings of selling hats street side in New York City to the multi-million dollar global empire he currently manages. Throughout his presentation John shared stories and anecdotes about his rise to the top that covered everything from luck (being able to secure $300,000 worth of orders for clothing from trade show goers without ever setting foot inside the expo hall) to strategic product placement (LL Cool J did a commercial for the GAP in which he plugged FUBU, which sent the urban youth running to the stores wanting to buy FUBU clothing).

John highlighted that America was built IMG 2111 300x300 Daymond John: Follow Small Business SHARK Pointson entrepreneurship and it is what will keep it at the top, which sent encouragement to the small business owner-filled audience.  He also mentioned that it is 22 times easier to upsell a customer than it is to acquire a new one, which means that if you don’t offer upsell products at this moment, you might want to find a way! Leveraging the power of social media while being mindful of your company’s online reputation is crucial to a small business’ marketing strategy today, so one has to be conscious or sending out the right messages.

The small business and entrepreneurial tips that Daymond John spoke about can help owners of all types and take small businesses to greater levels of success.  Follow John’s Shark Points and you’ll be on the right path:

S

Set goals. You can’t hit a target you can’t see.

H

Do your homework. The only thing that costs more than an education is ignorance.

A

Amor, for love. If you love what you do, you’ll never work a day in your life.

R

You are the brand. Sum up your brand’s pitch into 2-5 words.

K

You must keep swimming.

 

For more information on marketing and steps towards success, download “Market Like the Ultimate Marketers.”

How Small Businesses Can Expand Their Horizons

christian arno How Small Businesses Can Expand Their HorizonsGuest post by Christian Arno

 

Growing your business can be an exciting, but daunting step. Although the latest figures by the National Federation of Independent Business show that small business optimism is increasing, however, only 6 per cent of owners believe it’s a good time to expand. This caution is understandable, but increasing your customer base doesn’t have to involve high expenditure and high risks. Small business expansion could still be a possibility.

Ecommerce has opened up a world of opportunities for small businesses. A few years ago, marketing to social buttons How Small Businesses Can Expand Their Horizonsoverseas customers might have seemed like shooting for the moon. But it’s now relatively easy and inexpensive for a home-based start-up to ship to customers on the other side of the country – or world. And thousands of entrepreneurs are using the internet to grow their small business beyond their original markets.

Here are a few steps to expanding your company’s horizons.

Expand your web presence

Even some of the smallest mom and pop stores have websites these days. That’s great, but are they easy to find and effective “shop windows” for online customers? Not only should a site look attractive, but the buying process should be as simple as possible.

Many companies have found success by swapping their brick-and-mortar stores for a mainly online business. For example, the struggling family-owned Newark Nut Company managed to turn around its fortunes, and grow from a tiny mall outlet to a major online supplier.

It’s also worth considering using Ebay, Amazon, or Etsy to sell products. These take a small cut of sale proceeds, but are easy to use and can bring in additional revenue streams.

Research your markets

The key to successful growth is research – and knowing your existing customers. Track visitors to your site using tools such as (free) Google Analytics or Woopra. If you already have a number of visitors from a particular city or state, consider tailoring product or shipping information to them.

Think about details such as shipping, payments, and regulations at an early stage, and make sure you have up-to-date information. There are few things more frustrating for online customers than finding a supplier doesn’t ship to their state, or a gift fails to arrive on time.

Use blogs and social media

Do you have expertise in your field that could be valuable to a wider audience? Whether it’s cupcake decorating or car repair, blogs and social media are ways to build a following and engage potential customers.

Using a little imagination can raise your profile, and attract attention outside your core customer base. Betty Givan, a retired math professor, set up her site Betty’s Kitchen and began uploading videos of her Southern home cooking to Youtube. She was soon attracting thousands of views per day.

San Francisco’s food trucks are a good example of using social media to spread the word, interact with customers, and attract dedicated fans.

In part two of this series, we will cover outsourcing and thinking beyond your borders.

Download “Let’s Get Digital” to learn how to convert more online sales.

Christian Arno is founder and CEO of the global translation agency, Lingo24. Originally a home-based start-up, it now has hubs on four continents, a network of 4000 translators, and translates 65 million words a year. Clients include American Express, the UN, Bloomberg, MTV, and a wealth of small businesses. Lingo24 made The Times International Track 100 in 2011.

Do You Embrace These 8 Killer Startup Characteristics?

Marla Do You Embrace These 8 Killer Startup Characteristics?I recently participated in a Google Hangout featuring entrepreneur Marla Schuchman, who is well-versed in Tel Aviv-based startups and small businesses. On the hangout, she described eight different qualities that entrepreneurs based in Israel share and explained the environmental and cultural factors that make Tel Aviv a global startup capital. Schuchman broke down eight different startup tips you can adopt within your small business.

  1. Be arrogant: Carry an unreasonable amount of confidence in your ideas and ventures.
  2. Be generous:  Contribute to the greater good by sharing ideas and collaborate with others.
  3. Be hungry: When you’re hungry, you’re motivated to achieve great success through intense pitching and hustling of your ideas.
  4. Be thrifty: Conserve resources with care so that you adopt a lean discipline as you grow.
  5. Be external: Meet new people and gather fresh ideas, even get up and go outside.
  6. Be stressed: In the positive sense, carry the right amount of stress so you see your idea/solution as critical to customers’ success.
  7. Be supportive: Support your peers and would-be competitors as they achieve their goals.
  8. Be insubordinate: Avoid bureaucracy, challenge the status quo and get things done.

Maybe these qualities are generalizing, and, to some extent, marginalizing the rest of the world’s entrepreneurs, but I believe these qualities are present in many successful startup founders. Regardless, these attitudes have worked for many young companies and could work for yours.

There are quite a few startups based in Israel that have found success. In 1993, security appliance and software company, Checkpoint Software, was founded. Later, they acquired the security arm of Nokia. In 1996, ICQ, the predecessor to AOL Instant Messenger (AIM), was founded by Yair Goldfinger, Sefi Vigiser, Amnon Amir, Arik Vardi and Yossi Vardi. Today, notable Israeli startups include Waze, Soluto, Any.do and Yedda (acquired by AOL). Today, there are nearly one thousand active Israeli startups today!

I found Schuchman’s advice fascinating because all too often, we feel pressure to adopt traditional business development models. Startups in Israel have a strong vigor in their work and a unique formula to collaborate and deliver large results.

Schuchman’s international experience and interest in startups affords her a unique advantage as she advises startups through her marketing consultancy firm, The Three Sheep.

What qualities or characteristics do you have as an entrepreneur that you would credit to your success? Share them in the comments below!

Looking for more ideas on how to take your idea to the next level? Download our free 30-page Internet Marketing Guidebook that you can use to gain visibility and attract customers on the web.

Bright Ideas to Liven Up Your Small Business (and Your Sales)

JayHarris1 225x300 Bright Ideas to Liven Up Your Small Business (and Your Sales)Guest post by Jay Harris

 

Brick and mortar small businesses that feature products in a showroom-type setting know the importance of lighting in a retail setup. So does anyone who’s tried on an item of clothing in a dressing room awash in flickering fluorescent overhead lights — and then opted not to buy the clothing because it didn’t look quite right.  Consider how carefully you craft your email marketing message; why wouldn’t you spend as much time and effort on your store’s appearance.

Lighting accounts for 20 to 50 percent of a company’s electricity consumption, so the business-minded among us should recognize how essential energy-efficient selections are to the ROI of a major upgrade.

What are the brightest ways to maximize your illumination scheme while minimizing your small business’s energy expenditures? Below, I will shine a light on how to focus your energy where it is most needed, as well as turn you on to a handful of simple switches that can boost your business.

Task Lighting: Encouraging Desk Staff to Radiate Productivity

Overhead

While employees certainly perform better in well-lit workstations, when standard T12 fluorescent ceiling lights are bearing down, Overhead lighting Bright Ideas to Liven Up Your Small Business (and Your Sales)the outcome may be anything but vibrant. These older fluorescent systems often yield poor-quality light and are subject to flickering and humming that can distract staff.

However, fluorescents can be useful, as they have proven four times more efficient than incandescent lamps. Just be sure to choose the high-efficiency (and warmer) T8 and T5 options. And spread your fixtures evenly to eliminate shadowy “dead” zones in production areas. You want uniform coverage throughout the office space.

Indirect

Harsh direct lights can cause eyestrain, fatigue, and reduced productivity, so it’s ideal to supplement your overhead design with indirect lighting from desk and table lamps. But before you stock your supply closet with cases of inexpensive bulbs, consider investing in longer-lasting, energy-efficient compact fluorescent lights. Energy Star-qualified CFLs consume three-quarters less energy than their incandescent counterparts, without sacrificing any of the warmth. In fact, swapping a single 60-watt incandescent bulb for a 13-watt CFL saves roughly $37 over the life of the bulb. And since this technology produces less heat, when used in large numbers, it can help cut back on cooling expenses.

Daylight

To increase sunny days in the office, be sure to let in those rays. Not only does natural light increase energy levels among employees, its energy cost (and thus the cost to your bottom line) is nil. Plus, it’s brighter than artificial substitutes. Take care not to block windows, consider installing skylights and sun tubes, and orient desks to take advantage of daylight without causing computer-screen glare.

Only have limited access to the sun while on the inside? Turn to energy-efficient LED lights with a “daylight white” balance of color to promote concentration.

Bright Source: Selling Customers with Brilliant Ideas

Spotlights

If you’re looking to highlight a particular item in a sales environment, halogen lights are the go-to, preferred for their white light and ability to add a bit of shine to merchandise. These advanced incandescent lamps can be suspended above prime areas as in-ceiling can lights, or placed adjacent to key shelves as wall sconces. Also consider layering accent lights inside cabinets or above shelves, so that products don’t become lost in dark recesses.

Daylight Bright Ideas to Liven Up Your Small Business (and Your Sales)Daylight

Here comes the sun, again. Natural daylight should be harnessed not only for office situations, but retail outfits as well, since it creates a pleasing visual environment for the human eye and brain. If your business includes a clothing component, natural light is the most flattering, so should be channeled into fitting rooms using avenues such as skylights and glass bricks.

Sunshine can also boost your clients’ comfort level at a point of sale, where 90 percent of decisions are made (in fact, after conducting an experiment a few years ago, Walmart concluded that consumers purchased more and lingered longer in areas of the store that boasted daylight rather than artificial light). Lesson learned: place your registers and contract-negotiation corners alongside a bank of windows.

Window Lights

Invite customers in with light. Bright window displays form a lively welcome to your store, giving patrons a quick taste of your business’s personality. Available in an array of colors and formats (everything from ropes to rods), LED lights are ideal for creating artistic front displays to draw in passersby. And when left burning at night, lit window displays can act as a deterrent to potential thieves.

Do these insights spark an idea for your small business?

Turn customers into repeat customers by implementing the tips in “Deliver. Satisfy. Repeat.”

Jay Harris is a Home Depot sales associate in the Chicago suburbs and a writer on Home Depot’s blog. Jay’s interests in the home improvement arena include LED lightbulbs, alarm systems, and answering any other light bulb related questions.