Many small business owners overlook the importance of the Internet for attracting new customers. If the business is a brick and mortar store, the owner may think that the Internet is not a useful tool for attracting local customers. This could not be wrong. Even if a store is only capable of serving a local customer base, it can still market to customers using the Web. In fact, failing to use the Web to find new customers could be driving people straight to the competition.
Almost 80% of people are now using the Internet to research products or services before making a purchase - and the majority of those purchases are made within a 20-mile radius of their home. By developing a presence on the Web, small business owners can build an edge over their competitors and start drawing in more customers.
The first thing you need is a website. If you don't have the knowledge to do it yourself or the budget to hire a web designer, you can still develop a web presence. Your company's website can start small, perhaps even with a simple blog page where you post important news and updates about the business. There are many services that provide free blogs, and in many cases, you can spend $10 to purchase your company name as your blog URL, rather than using the blog's free address.
In terms of content, the most important thing is to get your company name and contact information out there for your audience. The more you can describe your company and its products and services the better, but at the very least start by just making your business known.
By Jason Nyback
Monday, August 24, 2009
Five Reasons Small Business Should Take Up Offshore Outsourcing
Many Small businesses are dynamic and promising.While some of them survive the rat race and mange to compete with big niche players, others fade out over time mainly due to financing and staffing problems. In order to survive and sustain growth, small and medium sized businesses have to be vigilant about their budget allotment and also be careful about choosing the employees. It is a good idea to utilize the services available in the offshore outsourcing market in growing business. Here are five reasons why small businesses should opt for offshore outsourcing services.
Hire experienced staff: Outsourcing has been a popular practice over the last decade. During this period, the IT sector in offshore destinations has been able to produce a pool of productive staff that brings years of experience with them. While it may not be possible to hire highly skilled and experienced labor back home, you have the option of hiring such people form offshore destinations. They will be good resources to nurture your business and train fresh employees as well.
Save cost on labor: when you hire from an offshore destination,especially from an outsourcing hub like India or China, you pay less even when they are skilled and equipped to handle projects with competence.
Save cost of production: when you get labor at a cost effective price,your cost of production automatically goes down.Some companies also outsource entire projects to overseas destinations and make a huge save on cost.
Capture local market: of late, the business prospects in offshore destinations are huge. In order to carry out businesses in a particular place, hiring local staff is the best option.
Make global presence: Having offices globally is now a popular business trend. It has almost become a necessity. If your business makes its presence on an outsourcing hub, that itself is proof for your service cost effectiveness.
By Vikas S
Hire experienced staff: Outsourcing has been a popular practice over the last decade. During this period, the IT sector in offshore destinations has been able to produce a pool of productive staff that brings years of experience with them. While it may not be possible to hire highly skilled and experienced labor back home, you have the option of hiring such people form offshore destinations. They will be good resources to nurture your business and train fresh employees as well.
Save cost on labor: when you hire from an offshore destination,especially from an outsourcing hub like India or China, you pay less even when they are skilled and equipped to handle projects with competence.
Save cost of production: when you get labor at a cost effective price,your cost of production automatically goes down.Some companies also outsource entire projects to overseas destinations and make a huge save on cost.
Capture local market: of late, the business prospects in offshore destinations are huge. In order to carry out businesses in a particular place, hiring local staff is the best option.
Make global presence: Having offices globally is now a popular business trend. It has almost become a necessity. If your business makes its presence on an outsourcing hub, that itself is proof for your service cost effectiveness.
By Vikas S
Benefits of Transforming Your Small Business to a Big Company
In the formation of a business, an ideal entrepreneur always has to be a future oriented business person. He should project of how his small business unit will evolve and grow to become a big corporation. With time and strategic planning, he should replace himself as the sole manager and install a board of directors to take up his functions.
The commonest way to increase the size of a firm is by increasing its capital base. Some methods to achieve this could be, plough back profits, taking loans or engaging in financial partnership. More capital means more funds will be available to increase factors of production like labor and hence increase scale of operation. A firm with a strong financial base will also enjoy certain advantages, for example, they can obtain loans at low interest rates and their assets can act as collateral.
Availability of funds will enable a business to employ qualified staff. This will lead to division of labor and specialization hence increase output. Qualified staffs are able to make viable decisions that can go a long way to necessitate a company's growth. It will also enable the business put in place better organizational structures which will allow departmentalization and subsequently division of labor.
As the scale of operation increase, the company is able to buy and sell goods in large quantities. Such a company is likely to get trade discounts. It is also likely to incur less cost per unit in transport, advertisement and distribution.
With effective planning, coordination and directing initiatives by the management of a company, economies of scale will increase. Once a firm turns large-scale, it will further be able to enjoy such benefits as research in new production techniques, new market and new products are being introduced.
By Belshaba Nyabwa
The commonest way to increase the size of a firm is by increasing its capital base. Some methods to achieve this could be, plough back profits, taking loans or engaging in financial partnership. More capital means more funds will be available to increase factors of production like labor and hence increase scale of operation. A firm with a strong financial base will also enjoy certain advantages, for example, they can obtain loans at low interest rates and their assets can act as collateral.
Availability of funds will enable a business to employ qualified staff. This will lead to division of labor and specialization hence increase output. Qualified staffs are able to make viable decisions that can go a long way to necessitate a company's growth. It will also enable the business put in place better organizational structures which will allow departmentalization and subsequently division of labor.
As the scale of operation increase, the company is able to buy and sell goods in large quantities. Such a company is likely to get trade discounts. It is also likely to incur less cost per unit in transport, advertisement and distribution.
With effective planning, coordination and directing initiatives by the management of a company, economies of scale will increase. Once a firm turns large-scale, it will further be able to enjoy such benefits as research in new production techniques, new market and new products are being introduced.
By Belshaba Nyabwa
Best Business Practice For Small Businesses During Recession
Recession has forced everyone to cut down costs. This is especially true in case of small and medium size businesses whose budget size might have been affected by recession. Even when there are surplus funds in the budget, small businesses should use them carefully and save a portion of the budget for a rainy day. They should focus on adapting certain cost effective business practices that can help them cope with recession blues. Here are some business practices small businesses can use to save costs.
•Outsourcing: Outsourcing is a tested and proven cost-saving business plan. The experience of other companies who have used such services should help you in understanding the pros and cons of outsourcing and in deciding the path to be taken in outsourcing. Over the years, the number of offshore service providers has increased and the prices of services they offer have become competent. Most of them have relevant experience in serving a client like you. Pick an offshore service provider by keeping these aspects in mind.
• Hire virtual assistants:by hiring a virtual assistant you can outsource certain manual jobs and lend more focus in business development. Since you can seek help from your virtual assistant help through the web, you can even employ an offshore virtual assistant and save cost of labor.
•Staff augmentation:staff augmentation provides flexible labor employment. By using these services, you can hire skilled labor only for a specific project staff through a staff augmentation service provider. Also, you need not staff the employee in your office. This will help you cut the overhead costs of staffing and maintaining an employee.
•Offer different business models:Instead of having just one business engagement model, you can offer several business models or even offer customizable business models in order to address client requirements better.
By Vikas S
•Outsourcing: Outsourcing is a tested and proven cost-saving business plan. The experience of other companies who have used such services should help you in understanding the pros and cons of outsourcing and in deciding the path to be taken in outsourcing. Over the years, the number of offshore service providers has increased and the prices of services they offer have become competent. Most of them have relevant experience in serving a client like you. Pick an offshore service provider by keeping these aspects in mind.
• Hire virtual assistants:by hiring a virtual assistant you can outsource certain manual jobs and lend more focus in business development. Since you can seek help from your virtual assistant help through the web, you can even employ an offshore virtual assistant and save cost of labor.
•Staff augmentation:staff augmentation provides flexible labor employment. By using these services, you can hire skilled labor only for a specific project staff through a staff augmentation service provider. Also, you need not staff the employee in your office. This will help you cut the overhead costs of staffing and maintaining an employee.
•Offer different business models:Instead of having just one business engagement model, you can offer several business models or even offer customizable business models in order to address client requirements better.
By Vikas S
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