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How to Protect Your Organization From the Amazon of Your Industry

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StrategyDriven Risk Management Article | How to Protect Your Organization From the Amazon of Your IndustryThe trend towards consolidation in industry has become a threat to any business whose leadership has a desire to maintain its own identity and strategic path. If you think you, your company, or your industry is immune, I urge you to look at the telltale signs.

If you are one of those business owners or leaders who have invested many years of your life building a brand, then you most likely have a vision for that brand for the future that exists beyond your involvement. Sure, you could decide to sell the business or have it acquired by another organization, but the control of the decision should be yours.

So what do you do if you’d like the company to stand alone moving forward?

The Hidden Threat That Many Do Not See

Many signs of corporate consolidation are apparent; we read about them in journals and online every single day. XYZ corporation announces the acquisition of ABC LLC, etc. Mergers and acquisitions have been around forever, but there is a new legal form of conquest that is allowing organizations to steal market share from well-established businesses. Does it exist (yet) in your niche?

The menace of which I speak is the digital marketing organizations that are springing up in most industries, offering services on a pay-per-lead basis. If you are an established business, you likely have encountered one or more (or your marketing department has), and perhaps you have even paid for their services. These organizations spend their resources online, gaining a marketing edge, and then sell you (or your competition) the data on the leads. It seems like a win-win relationship at first.

But consider this. Isn’t this type of behavior, by you and your competition, outsourced marketing? No big deal, right? They spend money to generate consumer information, and then you buy it. Outsourcing frees you up to focus on things other than creating new business opportunities. It’s a true parasite-host relationship, where your organization serves as the host, and the digital marketing organization serves as a benevolent parasite.

Over time, the parasite will get large and robust. It will more than likely service many companies, not just your own. When they hit a point of market saturation, who do you think will be the most prominent brand known to the consumer? You? A competitor? No! It will be the digital marketing company that has been growing its reach across digital channels.

I believe that at this point, the digital marketing organization will have the leverage, and it is then that the parasite begins to consume the host. They raise the price on your cost per lead. If you refuse to pay, they merely sell the information to a competitor. Or worse, they quit selling information exclusively; instead, they sell the same information to multiple organizations. Once they are large enough in the eyes of consumers, they have the leverage to do this.

Would you like some real-world examples of this? Look no further than Zillow in real estate or Homeadvisor in the home services sector. These marketing-only organizations started simply with a website, but now each is the biggest name in its field. Zillow is now buying homes and working directly with home sellers. Can it be much longer before they have a buyer service available?

How To Avoid The Digital Marketing Parasite

If you own, lead, or manage an organization, acknowledge that the primary task of any business is the generation of new customers. You cannot outsource marketing, or it will put your company in a position to finance the organization that will one day put you out of business.

Take care of the parasite when it is a pest. Ensure that you run a learning organization that evolves its marketing strategy to utilize the same channels and processes that the parasite would use to unhinge you.

The parasite exists in every location and every field. Do not make the mistake of outsourcing business generation responsibilities. Instead grow your digital marketing solutions so that your company can thrive and grow into the future.

About the Author

StrategyDriven Expert Contributor | Joe ManausaJoe Manausa is CEO of Joe Manausa Real Estate in Tallahassee, Florida and author of The Business of Getting Business: The Digital Marketing Guide for Small Businesses.  After observing industry giants move to a digital-first marketing approach, Joe made the transition within his own company, which resulted in over $10 million of revenue from the business’s website.  For more information, please visit lidpublishing.com or https://www.digitalmarketingforbusinessbook.com/.

5 Ways to Increase Post Engagement on Your Facebook Business Page

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StrategyDriven Online Marketing and Website Development Article, 5 Ways to Increase Post Engagement on Your Facebook Business Page

Are you using Facebook as a platform for your business? Do you notice your post engagement losing some steam?

Post engagement is one of the key metrics that say how effective your Facebook business page is. It measures your followers’ loyalty to your brand.

With 80% of businesses using Facebook in their marketing strategies, you need to increase your Facebook page post engagement. But how do you do it? What are the techniques that you need to start practicing?

Continue reading below as we look at five effective ways to increase your post engagement.

The Value of Post Engagement

What is post engagement on Facebook? As we mentioned earlier, it is a metric that measures the activities your Facebook posts generate.

But why is it important?

Facebook engagement helps increase your social media reach. Your brand will get more exposure. In turn, you will generate more leads faster.

Furthermore, post engagement also serves as a cost-effective way of marketing your products. Instead of paying for expensive TV ads and billboards, social media engagement will cost you very little.

5 Techniques to Boost Your Post Engagement

Part of learning how to grow a Facebook page is managing your posts. Here are five effective ways that will boost the number of interactions on your Facebook account:

1. Timing is Key

Don’t just post on Facebook anytime you want. Instead, schedule your posts accordingly. Post during times when most of your fans are online.

Use a Facebook scheduling tool to determine the best times to publish your posts.

2. Create More Videos

Do most of your posts involve plain text? Try upping the ante by posting more videos.

Users love watching videos. They find it more engaging than plain text. But you need to make your videos entertaining and informative at the same time.

Moreover, post the videos directly to your Facebook page. Avoid posting a link to your videos coming from your YouTube account.

Also, consider publishing interactive Facebook posts. Try doing a Facebook Live once a week. Users love it when they can directly interact with the brands they follow in real-time.

3. Boost and Recycle

Remember your top posts from a month ago? Consider boosting them to increase engagement. Boosting will only cost you a minimal fee.

Alternatively, you should consider recycling your top posts.

When recycling them, tweak the posts a little. You may add a question or incorporate a video or image.

4. Brevity and Quality

Another effective way of increasing engagement is to shorten your posts. Keep them brief as much as you can, as longer posts may bore users.

But make sure your posts do not fall short in quality. Try using witty statements or ask them quick questions.

5. CTA Matters

Last but not least, you need to include a call-to-action (CTA) to your posts. A CTA sends the message that you want to hear from them. Throwing a question at the end of your post is a good option.

You may also create polls to see how they feel about a certain topic. You can go here to learn how to create a poll on Facebook.

Take Your Facebook Business Page to the Next Level

By increasing your Facebook post engagement, you can build your brand faster and create new leads for conversion. But post engagement is only one area you must work on.

Learn more strategies by reading our different articles. We discuss other techniques that will help take your social media pages to the next level.

10 Top Tips For Starting Your Own Business At Home

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StrategyDriven Starting Your Business Article | 10 Top Tips For Starting Your Own Business At Home

If you’re thinking of starting your own business at home but you don’t know where to begin then don’t worry, you have definitely come to the right place. Whether you’re starting a business as a result of COVID-19 or you’ve had a business idea in mind for years, you need to be sure you’re doing all you can to make your first year a success. Whilst it may be overwhelming at first, there are lots of tips and tricks you can pick up to ensure you’re doing your best. From determining your target audience to creating a routine that you easily can work to each day, the more you’re doing to help your business succeed the better. With that in mind, here are 10 top tips for starting your own business at home:

Consider What Your Business Is Going To Do And How You’re Going To Make Money

One of the first things you need to do when it comes to starting your own business is to think about what your business is going to be doing and how you’re going to be making a profit from it. Although it may seem obvious, people often forget about this stage of their business plan.

If you’re unsure, the best thing to do is write down all of the products and services you’re thinking of offering, focussing on the value each of them will bring to the customer. Once you have done that, you will be able to think about a price point. If it helps, you may want to consider looking at your competitors and what they’re doing. When it comes to doing your first competitor analysis, you may want to do a little bit of research first.

Write A Detailed Description Of Your Target Audience

In order to create a business that is going to succeed, you need to think about who your target audience is. Whilst it may take some time, you need to ask yourself as many different questions as you can in order to create the perfect customer avatar.

Questions you may want to consider asking yourself include:

  • How old are they
  • Are they male or female?
  • Where do they live?
  • What do they do for a living?
  • What do they like to watch on TV?
  • Where do they like to shop?
  • Do they have any children?
  • What hobbies do they have?
  • What social media platforms do they use the most?
  • How often do they get paid?
  • What are their pain points?

Once you have asked as many different questions as you possibly can, you will be able to create an image of what your ideal customer should look like. This will make it much easier to market your product in the future.

Create A Comfortable Space For You To Work That Is Free Of Distractions

Working from home is incredibly difficult as you associate your home with being able to relax. Whilst you’re allowed to relax in your own home, you also need to ensure you have a specific space that is dedicated to working. Whether that’s a home office or a desk in your living room, knowing that you have a comfortable space that is free of distractions will help keep you motivated when you’re struggling to concentrate. For tips and tricks when it comes to creating a working space that motivates you, you can visit this site here.

Make Sure You’re Working To A Routine

Similar to the point above, you need to ensure you’re sticking to a working routine. Whether that means starting at the same time every day or ensuring you have an hour-long lunch break, you’re going to find you get much more done if you have a routine.

Do As Much Research As You Can When It Comes To Running A Business

If you have never run your own business before, you need to be sure you’re doing as much research as you possibly can in advance. From following successful entrepreneurs on social media to reading as much information as possible, the more you know about running your own business the better. If you’re struggling, you may want to consider taking a course to help improve your knowledge.

Set Up An Email And Caller System To Deal With Enquiries

Although you may not get many enquiries, to begin with, you need to ensure you have a way in which people can contact you if they’re interested in your products or services. The best way to do this, of course, is to give them ways to email or call you.

When it comes to setting up a phone number, you may want to consider using an auto dialer at first. This means that you will be able to continue using your personal number whilst you make outbound calls. This makes you seem like a much bigger business, which certainly helps when it comes to professionalism. For more information, you can visit Call Cowboy here.

Put As Much As You Can Into Your Marketing Efforts To Begin With

One of the best things you can do for your new business is to ensure you’re putting as much as you can into your marketing efforts for the first few months. If you’re starting a business where no one knows your name, you need to do as much as you can to increase your brand visibility. A great way to do this is to use paid ads on social media. Not only will this help build a customer base, but it will also help when it comes to growing your social media following.

Consider Outsourcing To Professionals For Certain Roles Within Your Business

One of the best ways to ensure you’re able to focus on the important aspects of running your business is to outsource work to professionals. Whether that means you’re outsourcing a role that you have no experience of or you’re simply freeing up your time to work on business development, bringing external people into your business is something you should look to do as soon as you possibly can. Although it can be expensive, they will more than pay for themselves when you’re able to grow your business exponentially.

Here are a number of different jobs you can outsource if you need to:

  • Your monthly or yearly accounts and tax return
  • The management of your social media channels
  • Content writing for your blog and your website
  • Public relations to help your business be seen
  • Virtual assistance to help with the running of your business

Although it can be hard to let go of certain aspects of your business, outsourcing is a great opportunity for business owners. For more benefits to outsourcing as an entrepreneur, you can visit this site here.

Set Yourself Goals And Targets That Are SMART

Setting yourself goals is another great way to ensure your first year is a success as it gives you something to work towards. When setting these goals, you need to ensure that they’re SMART. This means setting goals that are specific, measurable, achievable, realistic and time-based.

Make Sure You Have A Back-Up Plan In Place

Finally, you always need to be sure you have a backup plan in place. After all, you never know what could happen.

Although it can be hard to set up your own business, the tips and tricks above will help you have the best possible start. What will you be doing first? Do you think we missed anything off of the list? Let us know your thoughts and ideas in the comments section below.

3 Tips for Designing an Awesome Business Card

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StrategyDriven Marketing and Sales Article | 3 Tips for Designing an Awesome Business CardThere is some truth to the old saying, “Image is everything”.

Your eyes process images in just 13 milliseconds.

So, what does that mean for you as a savvy business person?

It means you should be thinking about how your peers, potential clients, and coworkers view your image.

The easiest place to start? Your business card.

A well put together business card can leave a lasting impression that speaks volumes about the kind of person you are.

So let’s take a look a how to design a business card that will be a step above the rest.

How to design a business card

Using these 3 tips when designing a business card will take your business persona to the next level.

Let’s get started!

1. First Impressions Are Everything

Remember what we said about image? We meant it!

Your business card design should reflect the style of your business. Your values should be well communicated by just looking at the card.

For example, if you are a creative florist with a passion for wild bouquets, you might choose a brightly colored card with a floral motif. Choosing a dark or modest card would not really reflect the appropriate image of you or your product.

The same goes for a formal business environment. You would want your color scheme to be more muted and straightforward to reflect your values.

If your creative side is struggling consider using a business card template to help inspire you.

2. Clear Contact Information

Don’t make prospective clients squint or grab their readers just to give you a call.

The minimum size you should ever be using is 8pt, but generally, 10pt-16pt is where you want to keep the size.

Your contact info should be in clear order as well.

Try laying the contact info in this classic order:

  • Company name
  • First and Last name
  • Job title
  • Contact info (phone number, email, social, etc)

The whole point of your business card is to help people get in touch with you. Making sure your contact info is clear and concise ensures that your business card design is doing its job!

3. Give It Something Extra

Standing out among the sea of business cards can be tricky, but these creative extras could help your card get the extra glance!

  • Magnetic cards – For businesses that have frequently required services like, hairstylists, lawn care workers, plumbers, etc, a convenient magnetic card placed on the refrigerator can make booking appointments a breeze.
  • Appointment tracker – Having a reminder for important dates or appointments directly on the card will be convenient for your client and lead to less missed appointments.
  • Finishing touches – Different printers can create final touches that make your card stand out against the rest. Try touches like embossing, which raises your text for a unique texture, or foil stamping, which makes your card shiny in areas where applied.

All of these extra final steps can take your design to the next level.

The Finished Product

Now that you understand how to design a business card like a pro it’s time to get started! Don’t be afraid to let your personality shine. Make your new business card today!

For more tips on for success in business check out the rest of our site!

7 Things Tax-Savvy Business Owners Should Do Before Year-End

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StrategyDriven Managing Your Finances ArticleIt’s not too late for you to take steps to minimize your 2018 business taxes!

At the end of the year, many small business owners start looking for ways to lower their business taxes using a TFSA calculator. Although the best tax plans are usually implemented year-round, it’s not too late for you to save in 2018 while you begin to plan for next year.

Here are just a few of the many tax-saving strategies we recommend to our business clients at year-end:

1. Time your income and expenses

Although it is difficult to predict how your business will fare next year, we can review your books and business plan to see whether receipt of income and payment of expenses would benefit you more this year or next. If you have had a great year, you may wish to decrease your revenue by delaying some of your December billings until early January. If you have the cash available, you can also increase your deductions this year by (1) purchasing equipment that you were planning to buy in the near future; (2) stocking up on office supplies and other items that you utilize on a regular basis; and (3) pre-paying your business mortgage, rent, insurance and/or professional subscriptions.

2. Depreciate your new equipment

The Section 179 deduction has been expanded – business are now permitted to take a first year deduction of up to $1 million on purchases of qualified equipment. Above this amount, the deduction is reduced dollar for dollar until it completely phases out at $2.5 million. For equipment expenditures that either don’t qualify under or exceed the limits of Section 179, you can take an immediate first-year deduction of 100% of the adjusted basis of the property under the new bonus depreciation rules. The new law also allows you to take this depreciation allowance for equipment that you purchased second hand – just make sure to put it in service before the end of the year. (Well, if you want to estimate how fast the value of an asset decreases over time, then simple try this smart depreciation calculator that helps to calculate depreciation by using four different methods. This depreciation rate calculator allows you to determine simple, auto, and property depreciation instantly.)

3. Set up a 401(k) plan

You are entitled to a tax credit of up to $500 per year towards the setup and the first three years of administering a company 401(k) plan. You also receive a deduction for all amounts put into the plan, which are tax-deferred until you or your employees withdraw funds.

4. Give bonuses to your staff

You can lower your business taxes and make your employees happy with gifts or bonuses at year-end. Keep in mind that while S Corporations can deduct the full amount, C Corporations can only deduct bonuses to shareholders with a 50% or greater interest in the company. These deductions are not available at all to LCCs, partnerships and sole proprietors.

5. Take all available deductions and write-offs

Remember that pass-through entities such as S Corporations and Partnerships are now able to take a 20% off qualified purchases under Section 199A of the new tax code. Also, don’t forget to take a deduction for business loan interest and to write off bad debts and obsolete equipment!

6. Buy energy-efficient business property

Be good to the environment and yourself (through tax deductions and credits) by purchasing energy-efficient business property, vehicles and equipment.

7. Meet with your tax professional now!

“It is vital that you plan your taxes before the end of the year in order to utilize as many new benefits of the new tax law as you can,” says Moskowitz, “otherwise, you may regret missing a tremendous benefit because you only found out about it after December 31st.”

So before you go any further, check out Simplex Group and find all the tax permits and services that could benefit your business.

About the Author

StrategyDriven Managing Your Finances ArticleSteve Moskowitz founded the full-service tax law firm of Moskowitz, LLP with the firm belief that everyone with the drive and commitment to start and operate a profitable business should not be held back by fear or ignorance of the tax code. In fact, one of the core principles of our firm is that individuals and businesses should learn how to benefit from it.

About Moskwitz, LLP

The tax lawyers and other financial professionals at Moskowitz, LLP offer comprehensive assistance to businesses large and small, including year-end business tax planning services. Located in the heart of the financial district of San Francisco, Moskowitz LLP works with businesses of all sizes. To learn more about Moskowitz, LLP and how we can help you legally save taxes, visit our website at: https://moskowitzllp.com/ or call toll-free at: (888) 829-3325.