As a business, you probably spend part of your income on marketing in order to grow your business. But figuring out if your marketing efforts are worth it in terms of increaesed income can be tricky. "Sales vs. expenses: Did it really pay for itself?" on CBS.com talk about how to look at marketing dollars.
The relationship of sales to expense dollars is not a dollar-for-dollar comparison. If you spend $100 on flyers advertising a special and you get $100 in sales from that special, it doesn't mean you came out even. You should consider whether your marketing dollars will continue to generate sales or if it was a one-time thing.
You should also think about whether your marketing effort cost in terms of your time and effort, and what you would have done had you not spent time on that marketing project.
Until next time,
Sarah
Tuesday, April 10, 2012
Thursday, April 5, 2012
Work-From-Home Job Spotlight: Relationship Manager
Each Thursday, I’m highlighting a work-from-home job or business.
Job Description: A relationship manager helps companies facilitate contracts and other forms of business communications between the client and the company.
Education: A bachelor’s degree in the related field is a necessity, with a master’s degree in business a plus.
Skills: The ability to work with clients from various backgrounds to serve both the clients and the company.
Job outlook: Since this job spans several different fields, the U.S. Department of Labor’s Bureau of Labor Statistics does not have specific stats on job prospects for relationship managers. However, as the economy continues to grow stronger, more companies will likely be looking to fill these types of positions with qualified applicants, including those who wish to work from home.
Possible employers: Banks, insurance companies and other businesses that deal with contracts and loans on a regular basis.
Preparation: Check out associations related to your field, such as the Relationship Management Benchmarking Association or the Association for Financial Professionals. Take refresher courses in your field to update your resume.
Get your foot in the door: Contact former employers to see about freelance or work-from home opportunities. Network at business functions in your local area, such as through the Chamber of Commerce or other business clubs.
Testimony: While networking and maintaining relationships with the office was challenging, Margarita of Arlington, Va., loved working from home when her oldest child was young. “A lot of time on the phone was used to keep in touch,” she says of her job as a relationship manager underwriting commercial real estate loans to healthcare businesses.
Until next time,
Sarah
Job Description: A relationship manager helps companies facilitate contracts and other forms of business communications between the client and the company.
Education: A bachelor’s degree in the related field is a necessity, with a master’s degree in business a plus.
Skills: The ability to work with clients from various backgrounds to serve both the clients and the company.
Job outlook: Since this job spans several different fields, the U.S. Department of Labor’s Bureau of Labor Statistics does not have specific stats on job prospects for relationship managers. However, as the economy continues to grow stronger, more companies will likely be looking to fill these types of positions with qualified applicants, including those who wish to work from home.
Possible employers: Banks, insurance companies and other businesses that deal with contracts and loans on a regular basis.
Preparation: Check out associations related to your field, such as the Relationship Management Benchmarking Association or the Association for Financial Professionals. Take refresher courses in your field to update your resume.
Get your foot in the door: Contact former employers to see about freelance or work-from home opportunities. Network at business functions in your local area, such as through the Chamber of Commerce or other business clubs.
Testimony: While networking and maintaining relationships with the office was challenging, Margarita of Arlington, Va., loved working from home when her oldest child was young. “A lot of time on the phone was used to keep in touch,” she says of her job as a relationship manager underwriting commercial real estate loans to healthcare businesses.
Until next time,
Sarah
Tuesday, April 3, 2012
Blogging Mistakes
As a small businessperson, blogs can be a great way to connect with clients, new customers and the general public. However, it's easy to make mistakes when it comes to blogging. Here are some common missteps people make with their blogs.
Not being consistent with blog updates. A blog needs to be fed on a regular basis to grow. Posting sporadically can kill a blog pretty quick.
Solution: Blog at least once a week, preferrably twice a week. Most blogging programs allow you to schedule blogs, so you can write them up in advance and have them queued up for the future.
Talking too much about your business or products. Sure, you want to mention your business or products, but don't fall into the trap of trying to promote yourself in every blog post.
Solution: Only mention your product when it truly fits well into the blog post. Limit yourself to a few mentions a quarter, if you need more hard-and-fast guidelines.
Not integrating your blog into your website. Having your blog as part of your website is smart and simple. You don't want people going to several different sites to read your blog and then find out information about your company.
Solution: Talk to a website designer about embedding your blog into your home page or website. My blog, which is run by Blogger software, is seamlessly seen as part of my website's home page.
Not promoting your blog on social media. Simply writing a blog post doesn't mean it will get read. You need to generate interest in your blog post by driving traffic to your blog.
Solution: If you have a company or business Facebook, Twitter or Google Plus account, then be sure to mention when you have a new blog post. That can help drive traffic to your blog.
By avoiding these common mistakes, you can make your blog posts more readable and user-friendly.
Until next time,
Sarah
Not being consistent with blog updates. A blog needs to be fed on a regular basis to grow. Posting sporadically can kill a blog pretty quick.
Solution: Blog at least once a week, preferrably twice a week. Most blogging programs allow you to schedule blogs, so you can write them up in advance and have them queued up for the future.
Talking too much about your business or products. Sure, you want to mention your business or products, but don't fall into the trap of trying to promote yourself in every blog post.
Solution: Only mention your product when it truly fits well into the blog post. Limit yourself to a few mentions a quarter, if you need more hard-and-fast guidelines.
Not integrating your blog into your website. Having your blog as part of your website is smart and simple. You don't want people going to several different sites to read your blog and then find out information about your company.
Solution: Talk to a website designer about embedding your blog into your home page or website. My blog, which is run by Blogger software, is seamlessly seen as part of my website's home page.
Not promoting your blog on social media. Simply writing a blog post doesn't mean it will get read. You need to generate interest in your blog post by driving traffic to your blog.
Solution: If you have a company or business Facebook, Twitter or Google Plus account, then be sure to mention when you have a new blog post. That can help drive traffic to your blog.
By avoiding these common mistakes, you can make your blog posts more readable and user-friendly.
Until next time,
Sarah
Thursday, March 29, 2012
Work-From-Home Job Spotlight: Attorney
Each Thursday, I’m highlighting a work-from-home job or business.
Job Description: A lawyer helps people with a variety of legal problems or issues. Education: A law degree, plus passage of the bar exam in the state where you will be practicing law.
Skills: Knowledge of the law specialty you wish to practice, such as elder care, immigration, employment-related issues, wills, real estate, etc.
Job outlook: The U.S. Department of Labor’s Bureau of Labor Statistics (BLS) finds that “employment of lawyers is expected to grow 13 percent during the 2008 to 2018 decade, about as fast as the average for all occupations. Growth in the population and in the level of business activity is expected to create more legal transactions, civil disputes, and criminal cases. Job growth among lawyers also will result from increasing demand for legal services in such areas as healthcare, intellectual property, bankruptcy, corporate and security litigation, antitrust law, and environmental law.”
The BLS also offers this advice: “For lawyers who wish to work independently, establishing a new practice will probably be easiest in small towns and expanding suburban areas. In such communities, competition from larger, established law firms is likely to be less than in big cities, and new lawyers may find it easier to establish a reputation among potential clients.” Check out the BLS Occupational Outlook Handbook for more details
Possible employers or clients: Consider branching out on your own or joining up with other independent lawyers in the same or similar fields.
Preparation: Join the American Bar Association, your state’s bar association or a specialized law association, some of which are listed here. Network at various events or continuing education courses held by these organizations.
Get your foot in the door: Sponsor a local children’s sports team or get a booth at a school event to advertise your services. Find local events related to your specialty and mingle with potential clients, handing out business cards. Join the local Chamber of Commerce for other networking opportunities.
Testimony: Laura of Jackson, Miss., turned her love of legal research and writing into an at-home career after the birth of her first child. She works ten to fifteen hours a week as an attorney. “When my daughter started taking longer naps in the afternoon, I realized I could use that time to contribute to my family’s income while doing something that I loved,” she says.
Until next time,
Sarah
Job Description: A lawyer helps people with a variety of legal problems or issues. Education: A law degree, plus passage of the bar exam in the state where you will be practicing law.
Skills: Knowledge of the law specialty you wish to practice, such as elder care, immigration, employment-related issues, wills, real estate, etc.
Job outlook: The U.S. Department of Labor’s Bureau of Labor Statistics (BLS) finds that “employment of lawyers is expected to grow 13 percent during the 2008 to 2018 decade, about as fast as the average for all occupations. Growth in the population and in the level of business activity is expected to create more legal transactions, civil disputes, and criminal cases. Job growth among lawyers also will result from increasing demand for legal services in such areas as healthcare, intellectual property, bankruptcy, corporate and security litigation, antitrust law, and environmental law.”
The BLS also offers this advice: “For lawyers who wish to work independently, establishing a new practice will probably be easiest in small towns and expanding suburban areas. In such communities, competition from larger, established law firms is likely to be less than in big cities, and new lawyers may find it easier to establish a reputation among potential clients.” Check out the BLS Occupational Outlook Handbook for more details
Possible employers or clients: Consider branching out on your own or joining up with other independent lawyers in the same or similar fields.
Preparation: Join the American Bar Association, your state’s bar association or a specialized law association, some of which are listed here. Network at various events or continuing education courses held by these organizations.
Get your foot in the door: Sponsor a local children’s sports team or get a booth at a school event to advertise your services. Find local events related to your specialty and mingle with potential clients, handing out business cards. Join the local Chamber of Commerce for other networking opportunities.
Testimony: Laura of Jackson, Miss., turned her love of legal research and writing into an at-home career after the birth of her first child. She works ten to fifteen hours a week as an attorney. “When my daughter started taking longer naps in the afternoon, I realized I could use that time to contribute to my family’s income while doing something that I loved,” she says.
Until next time,
Sarah
Tuesday, March 27, 2012
Work Space Outside of the Home
Sometimes, we need to have a place to work outside of the home, whether it's to concentrate on a project or to meet with clients in a more formal setting than a coffee house. That's were co-working can help. Co-working basically is a shared office space where a group of small businesses or entreprenuers can hold meetings or simply work at a desk. CNBC's recent article entitled "5 Ways Co-working Helps Small Businesses" gives some tips on how sharing office space can be a smart move for home-based businesses and other small companies.
Networking. Getting to know other small business owners can help you make new contacts to expand your business.
Perspective. Having a wide variety of businesses in the same space can be a great way to tap into other experts when you need it.
Balance. Having a separate office from home can help you keep your work at work and your home life at home.
Efficiency. Most shared spaces provide mailing and copying services right on the premises, which can save on time.
Money. Sharing space with others can be a significant savings over renting your own space.
Co-working isn't for everyone, but it might be just the ticket your business needs to grow.
Until next time,
Sarah
Networking. Getting to know other small business owners can help you make new contacts to expand your business.
Perspective. Having a wide variety of businesses in the same space can be a great way to tap into other experts when you need it.
Balance. Having a separate office from home can help you keep your work at work and your home life at home.
Efficiency. Most shared spaces provide mailing and copying services right on the premises, which can save on time.
Money. Sharing space with others can be a significant savings over renting your own space.
Co-working isn't for everyone, but it might be just the ticket your business needs to grow.
Until next time,
Sarah
Subscribe to:
Posts (Atom)
