Business Consulting

Back to Basics: New Business Owner

October 18, 2010 by Basil Puglisi Leave a Comment

Are you a small business owner wanting to market your products or services without breaking the bank? If you are, you must read this article.

Customers are attracted to businesses that have a polished, professional image. They often make snap decisions about who to do business with based solely on their image and presentation.

So what does a smart image do to your business? Firstly, it gets you noticed; specific image aspects such as a well designed logo have excellent recall value. So a smart image gets you remembered. That’s two shots in one – a great impression and excellent recall value.

Investing in great corporate brand identity image helps you in two ways; it makes your small business look larger than it is and also sets you apart from the competition. What looks to be fairly simple such as unique logo, an attractive website or appealing business cards will help to establish your business’ brand identity and define its role and services in the marketplace.

So what does a smart image consist of? A well-designed, colorful and yet to-the-point logo that represents your company’s products, services and business ideals is a start. This should be followed by smartly designed business cards with the same logo prominently printed on them.

A smart business card: You can design and print very professional-looking business cards for a low price in order to attract new customers and ensuring that your existing customers know how to get in touch with you.

A smart corporate logo: This is an absolute must if you want to be noticed and remembered. Remember, a picture is better than a thousand words.

A well-designed website: You might wonder exactly why you need this. The world is becoming very web-centric, with more and more shoppers researching products and shopping online. When you have a smart website in place, you will instill confidence in potential customers. Your website must have a consistent look and feel and must contain your contact information, along with your business hours. It would be great to also have the names of the people who can be contacted for specific services. You can use your website to sell your products online; if you do this, ensure a safe secure shopping experience for your customers.

Hand out freebies: Everyone loves it when they get something free. How about gifting your customers small things such as pens, key chains, and mobile phone pouches and so on branded with your corporate logo?

If you don’t have a dedicated art department or marketing team to create your brand identity, here’s some good news. You can easily develop professional-looking logos and business cards using fairly cheap online services.

Redefining geek and techie?

October 8, 2010 by Basil Puglisi Leave a Comment

Let’s take the case of a techie and a geek as defined in modern technology. Let’s use the example of Best Buy and their geek squad, a retail division that has been established by Best Buy to service computer and technology failures in products sold by the retailer. This industry change has led me to explore the difference between a geek and a techie.

Technology has divided the world into three general categories, the geek, the techie and everyone else. When we discuss everyone else we are specifically looking at anybody who does not fall into the category of techie or geek. We do this specifically because it is my belief that the technology offered by the world has created two type of IT professionals a techie and a geek.

The geek is the programming and engineering individuals that handle technical design and code. These individuals known as Geeks are strongly fluent in programming language and technical expertise in constructing and deconstructing technology.

I introduced the techie on the other hand as the individual who is capable of understanding the needs analysis of the general public and how that technology applies to that need. The techie is an individual who has remained and continues to remain on top of different technologies while never specializing in one specific type of technology. That techie understands the different strengths, weaknesses and opportunities that technology offers to resolve the needs of everyone else.

Who is everyone else? Everyone else is the public at large, be it business professionals, educators, students, consumers, clients, physicians, lawyers etc. The general idea is that humanity has created needs and these needs have been fulfilled by technology. In addition to the needs being fulfilled by technology, we have also started to fulfill wants. While the geeks have provided us ways to deliver technologies to resolve the needs and wants, it is unfortunate that most geeks fail to be able to see the big picture and purpose of the very technology in which they are creating.

Take the website for example. Websites offer a unique opportunity for individuals to share knowledge, display their expertise, and develop a medium through which they can educate, support or organize outreach. For a business owner, the difference between geeks and techies, have been exemplified in the Web 2.0 era. This is what happens when countless business owners have invested time, energy and money into websites that have been built by programmers and other geeks who understand their trade, language and their code. Unfortunately, business success is not defined by the contribution of programmers and geeks. This is where the need for techies has evolved. Techies are individuals who have enough technology experience and understanding of the technology. They excel in how delivery should be in a streamlined user-friendly manner so that business owners can reach everyone else in the world.

Techies serve the most crucial function of understanding how technology meets the needs, or fails to meet the needs of any function, business or organization.

Business Owner, Entrepreneur, Dishwasher?

October 7, 2010 by Basil Puglisi Leave a Comment

While it is often exciting to be an entrepreneur, we sometimes forget to be successful in any business; we must be prepared to wash the dishes. I found myself in the unique position several times of reviewing business opportunities with both young and seasoned entrepreneurs. These are people that have exciting ideas in exciting times and carry with them a great deal of energy that can translate into success.

One of the first things that I offer as advice to any entrepreneur or business owner, is to take the time to think about how it is that they would feel about being a dishwasher.

My father once explained to me that the most successful restaurant owners and successful managers of restaurants have often spent time in the kitchen, on the line themselves preparing food cooking and even washing the dishes.

In considering this advice, I offer you the following thoughts. When you think of creating a successful business, the first thing you’ll need to consider is the actual infrastructure of the business, how will this business operate, what role and how well will that be defined. This is what often leads me to think of the dishwasher. Take the most successful restaurant anywhere in the world and that restaurant will be traditionally be defined by the number of seats, the quality of food and level of service. Although, if the restaurant only has 60 seats and 80 dishes on any given busy night, they would be lost without the dishwasher.

The Smart business owner or entrepreneur quickly realizes that it is important to understand his/her business and every aspect of the business. To have respect for every role and function that that business or service has. This is why I mention the dishwasher. When you think of a business, in this case a restaurant, we often overlook the importance of others or in this case the dishwasher. When a consumer walks through a restaurant door it has always been emphasized how important it is to have the first experience with the restaurant be its finest, it is often overlooked that all of this is made possible by the “dishwasher”. Imagine how a restaurant would function if it had no dishes. If everyone in the business thought that they were better than being the dishwasher. If they thought that the dishwasher was insignificant and unimportant to the success of the business. In such a case, the business would fail. Surely the chef could not cook the steak, prepare the chicken Cordon Bleu or serve his famous French onion soup without dishes. One could even argue that he would not even be able to cook if someone did not clean and prepare the utensils.

So it is my advice to any small business owner or would-be entrepreneur that you consider the importance of the dishwasher not just in the structure of your business but in how it is that you may be called upon to serve that function to develop the success of your business. No business owner or entrepreneur, at least not the successful ones, develops a business based on great ideas and money alone. The true success of every entrepreneur and small business owner is the sweat, tears and hard work that they are willing to put into their own business. At this very moment there is an extremely successful business owner somewhere in the world scrubbing the toilet because there is no one else to scrub the toilet, and while you may believe your above scrubbing toilets, that business owner who provides for his family, sends his child to Harvard, or uses that first business and that first toilet to build the next multimillion dollar business. Their success began with the concept that a great idea and funding will not be enough to be successful.

So a word of caution to all you would-be business owners, entrepreneurs, inventors and silver tongues. When someone talks about America being based on the hard work of its citizens, they are talking about an economy built, sustained and developed by small business owners. This is a experience, endeavor and honor that is not always white sandy beaches, luxurious vacations, or penthouse apartments. It is a rite of passage, a part of the American dream, that if you are willing to work hard, invest yourself, your time, your pride, you may be rewarded with all that you put in. America will always need its “dishwashers”.

If you’re not ready to be the dishwasher, I urge you to reconsider starting or running a business, organization or campaign.

New Startups to Watch For

October 1, 2010 by Basil Puglisi Leave a Comment

The TechCrunch Disrupt tech show just wrapped a 3 day event in San Francisco. This show looks at the latest and most interesting innovations in the tech world, and gives a prize to one of them. But the point of the show is not the prize ($50,000) but the buzz some of them will get as a result.

Why is this important? Because it might so happen that in one of these companies lies the next advertising platform.

Here are some of the most interesting;

– Tweetbeat – Almost 90 million tweets are posted every single day. How can you get those that are most relevant to you? Enter Tweetbeat that sorts out the Tweets with what is called “Contextual Data Mining Technology” and sorts the top stories, trends and the time they peaked. The company was just sold to AOL.

– Voxy – A company that aims to simplify learning a language. The idea behind it is that text books are boring, people would rather learn from life. The company offers games, news stories, magazines etc. on smartphones and on the web, that have translation tools built in. For the time being they are concentrating on the Spanish speakers who want to improve their English.

– GameCrush – it’s a site where people can go to play games and meet the opposite sex. A combination of social media and paid gaming or a virtual bar where you can meet people who like the games you do. The company tested the site in March and it crushed because of enormous traffic. The site has been rewritten since and is up since Monday.

– Gild – Offers a way for programmers looking for work to show off their skills through games and puzzles. This site can replace a resume, says the founder. You show your skills by completing tasks and being creative.

– Qwiki – The people behind Qwiki believe we are too busy these to stop and read everything we are interested in. That’s where Qwiki comes in. Search for a topic and what will come up is a multimedia, narrated presentation of the subject. It can be used as an alarm clock; it can read aloud your incoming e mails, the weather report and the appointments of the day.

The last one –Qwiki – won the grand prize.

Those are but a few startups that were presented at the show. There are many shows like this one and many startups looking for attention.

Beyond Google: The truth about growing a business online

September 30, 2010 by Basil Puglisi Leave a Comment

In the Internet marketing arms race, companies are coming up short on google… here is why.

Google Only (100% effective) = 71% Market Opportunity
Mixed Search Engines Practices (80% effective) = 76% Market Opportunity

Google, Bing and Yahoo are the largest search engines in the United States, after that no one really comes close. In fact, small and inexperienced advertising and marketing companies would have you believe that google has such an advantage it is the only way to go. In fact, SEO companies promise you first page listings on google as the way to grow and build your Internet exposure, however, the math doesn’t add up.
Case Study:

Google is responsible for *71.79% of search traffic.
Yahoo & Bing are responsible for *23.93% of search traffic.

*Source: http://www.hitwise.com/us/datacenter/main/dashboard-10133.html
Traditional SEO and Internet Marketing Companies push just google, and on occasion some have started to push Facebook ads. Now let’s review the two major flaws in their logic.

First page on Google is a clear way to success – False, Just because you’re the first place they stop doesn’t convert it into a lead or sale, what are you selling? How does the website sell it? Where is the call to action, user friendly environment?
Google is the best way to generate leads from Search Engines – False, Yahoo & AOL communities are the oldest form of Social Media. As such, they have an amazing and loyal following. In fact, a Yahoo user is far more likely to make a purchase from findings on Yahoo then they are on google.
Google, Yahoo & Bing are the three major search engines – False, Google may own You Tube, but it doesn’t mean that Google and You Tube are in sync with search results. In fact, You Tube is the second largest search engine in the United States. So if you’re not leveraging Video content, you just missed an entire market. If your product has overseas opportunities, then you better learn about other search engines like Yandex (a Russian search engine).
Statistically Google is a better source for SEO or SEPR success – False, Compare two strategies – Google vs. Mixed approach. Others say tailoring to anyone but google results in a lower google score or rank, so why do it?

A look at the real statistics:
If you are 100% effective with Google then you can capture about 71% of the market, but if you are conservative and only 80% effective across the three search engines then you can capture 76% of the market. If you did well and can become 90% effective across all three Search Engines, then you walk away with the opportunity to capture up to 87% of the market.
If you go one step further to realize that Yahoo attracts higher conversion rates, then the scales really start to tip. Now add some video content distributed throughout the web (i.e. You Tube) and now you starting to achieve real market visibility.
Google is an amazing company and an even better visibility tool, providing resources, information and solutions to the largest population searching the internet. That said, you know not to put all your investments in one place in any aspect of life, why would you do the same with your Internet visibility?

Obtaining Funding: The Basics

September 16, 2010 by Basil Puglisi Leave a Comment

Funding can make or break your business. Start-up funding can get your business off the ground, and ongoing funding can keep your business afloat during tough economic times. Before you reach out to investors or banks to ask for cash, follow the steps below to make sure that your business is prepared to face potential investors.

First, incorporate as an S-Corp, C-Corp or LLC. Unlike sole proprietorships or partnerships, these forms of organization allow equity to be shared among multiple investors. Hire an experienced business lawyer to help you determine the proper structure for your company and obtain proper documentation and registration.

Second, register your intellectual property. Obtain trademarks and patents for any intellectual property that your company has developed, including proprietary trade names and inventions. Again, seek the aid of a qualified lawyer to help navigate the trademark process.

Third, clean up your financials. Prepare an easy-to-read set of historical financials that includes all relevant detail and backup data. Make sure that your company’s financial data is well-organized and easy to sort through in case investors ask questions. Prepare a set of financial projections that are reasonable and grounded in fact. Make sure that you can back up the financial projections with market data or company history.

Fourth, get the right people on board. Hire employees that have relevant backgrounds for your company’s industry and product. This is especially important in very young companies; when investors look at early stage companies that have little operating history, they are often investing on the strength of the management team, not on the historical performance of the business.

Fifth, create a professional website and online presence. Potential investors will turn to the internet to research your company, and you want to make sure that your web page puts your company’s best foot forward. Add the company’s products and management team. Highlight any key customers or recent accomplishments. Keep the website up-to-date and professional at all times.

Sixth, keep an updated business plan. Business plans change over time based on business performance and market dynamics. Update your business plan to reflect these changes so that you are ready to discuss your company’s operations with investors at any time.

While the six tips above are a must for any business seeking funding, nothing “wows” investors like a highly-successful and well-regarded business. Be sure to continue to build your business as you incorporate these funding tips into your company’s goals.

How to Make your Small Business Grow?

September 14, 2010 by Basil Puglisi Leave a Comment

Sometimes it’s good to look at other small businesses and see how the owners made them grow.

Samy Liechi is a young entrepreneur out of Switzerland. At the age of 30, he had an idea for a business – he is going to sell exclusive man’s socks.

Today, 11 years later, he has sold over one million pairs of socks all over the world. How did he make it happen? Here is some of his advice for the budding entrepreneur.

Don’t wait too long – if you think you have a great idea, act on it quickly. Don’t overthink the business and don’t wait until everything falls into place. Do the design of the site the best you can, but not everything has to be perfect. 80% is good enough. You will learn the rest as you improve. It’s never really finished, is it?

Start Selling as soon as you can. A few small orders a day, even as few as 2 from family and friends, will start the business going and will put you in the mode of selling.

Make a plan – have company meetings every week and meet with your sales people for at least half an hour a week. Set those schedules ahead of time then you won’t have to waste time by trying to schedule a meeting. Everyone will have his weekly plan that will not change from week to week. Make a plan when you look at your finances. Looking at it every day might make you too anxious.

Have a marketing campaign – new business owners often make the mistake of thinking they can do it all by themselves. Outsource your work to experts but don’t think that with this your responsibility ends. Marketing companies need your leadership and your input to make things right.

And don’t stay behind the curve. Innovate your products and your website. If something is not working, think of ways to fix it. Consult with experts whose job is to stay updated. Is there another way to do what you have been doing? Other venues that you didn’t think about?

If you are an entrepreneur, or just started up your own small business, you should contact the consulting firm Puglisi Consulting Group (http://puglisiconsulting.com/#), which through their visibility Acceleration arm (http://www.visibilityacceleration.com/) are doing what every business should be doing; checking what works and what doesn’t, adjusting, finding out better ways of achieving the goal and having the tools to measure the results.

Unusual Ways of Defining Success

September 13, 2010 by Basil Puglisi Leave a Comment

Is your business successful? You might think your are successful because you have a certain number of customers or have made a certain amount of money. But studies show that money does not buy happiness. In fact, a complicated set of factors contribute to each individual’s sense of success and happiness. Here are two unique ways to determine if your business is truly successful or not.

Does Your Business Line Up With Your Core Values?

In order to answer this question, you need to define what your core values are. Your core values should include what is important to you, not what is important to your business. Having a business that contradicts your core values is one way to ensure frustration, burnout and an unclear plan.

Core values can be anything that you believe is truly important. Some examples are integrity, education, self-reliance and health. Choose what resonates with you, not what you think others want to hear, what is trendy or what sounds right.

Once you have chosen one or more core values, assess how well your business lines up with these values at least once per year. Is your business furthering these values? If not, how can you change the business so that it aligns with your core values? Creating a business that is a reflection of your core values is a true sign of success.

What is Your Ideal Day?

Write down a realistic description of your ideal day. What are you doing from the moment you wake up to the moment you go to sleep? Compare this list to what you actually do in a typical day. How well does it match up? If your ideal day closely corresponds to your actual day, you have a successful business on your hands. If not, take a look at which areas of your day don’t match. What changes can you make to change your actual day into an ideal day? Consider outsourcing unpleasant tasks or taking a chance on an initiative that could propel your business to the next level. Remember that a successful business brings personal happiness in addition to financial success.

So how does your business stack up? If you find that you are monetarily successful but not happy with the direction of your business, it’s time to stop and plan. Think of what truly defines your core values and happiness, and make small and steady changes to ensure that your business is a bona fide success.

The Benefits of Virtual Assistants

September 10, 2010 by Basil Puglisi Leave a Comment

Have you considered hiring a virtual assistant? Virtual assistants are widely used to help with simple, repetitive tasks that are easily processed via email. Hiring a virtual assistant is a great way for your business to free up valuable time that can be better spent on other, more important tasks. Here are some of the key benefits of virtual assistants.

Low Cost Labor

Virtual assistants often provide labor at rates well below the salary that you would have to pay an in-person assistant. This is because virtual assistants are often located in developing countries such as India or the Philippines, where wage rates are below minimum wage in the United States. Even if you end up with a virtual assistant that is located in the United States, you will avoid the cost of benefits and office supplies that accompany a full-time employee.

The rate that you secure will vary by website and by provider. Some websites allow you to negotiate rates, and it is possible to find virtual assistants for as little as $2 per hour. Keep in mind, however, that the cheapest virtual assistants are often not of the highest quality. One of the most reputable websites, AskSunday.com, provides rates that range from $13.50-$14.00 per hour.

Off-Peak Hours

Virtual assistants can provide around-the-clock service. When you leave the office, you can email a task to your assistant and have it in your inbox the next morning. Of course, the time that your assistant is available to work depends on the assistant’s physical location. If you want your assistant to work primarily during your workday, look for someone in your same geographic region. If you want someone to work while you are off the clock, look for someone on the opposite side of the globe. You can even find teams of assistants that will provide service twenty-four hours per day.

Streamlined Hiring

Hiring a full-time employee takes a lot of time and resources. You must post a job ad, interview, hire the correct person, and spend weeks or months training them. Hiring a virtual assistant is a much quicker and less painful process. There are a variety of websites that simply the process, such as AskSunday.com, oDesk.com and eLance.com. These websites allow you to search for a virtual assistant, interview candidates and process payment. The hiring process can be done in a few hours or a few days, depending on how specific your hiring needs are.

For many business owners, a virtual assistant is an excellent way to free up time spent on repetitive tasks and to focus on the more important issues. If you are spending a lot of time on small tasks, try out a virtual assistant to see if you can increase your businesses productivity.