Category Business

What will you do different in 2010?

So what will you do differently in 2010? As the saying goes – “Keep on doing what you’ve been doing, you’re gunna keep on getting what you’ve been getting” or “The height of insanity is doing things the same way and hoping for a different result.”

I hear a lot of people talk about how bad 2009 was and how a new year will be better – well, I must ask, why would it be any better if you don’t plan to make it better? Write down the things you want to do better, and create a plan to improve those things. Talking about something will do nothing – action makes things happen, and to take action you must plan and follow through.

Happy 2010

Social Networking – Should I Be Doing It?

As a business person, should you be on sites like Facebook and LinkedIn and what is the best use of these sites?

I get asked a lot by self employed individuals or even small business owners, if they should be on these sites. The answer is absolutely YES. It’s not just the kids who are on those sites anymore, the demographic is very broad now-a-days.

You have to think strategically about how you’re going to use these websites. For instance, I have a LinkedIn profile where my connections are my clients and business contacts I have made. I toil around in the forums, answering questions and establishing myself as an expert, which helps me get credibility and find more connections. I have received business as a direct result of this.

On Facebook, I have two profiles. One is for personal use, and consists of my close friends and family. My other profile is strictly for business, utilized in the same way as LinkedIn. I can keep my clients informed of what hot new thing might be out on the web, what stage I am at on their website, and just in general keep in touch, in a friendly manner. I believe clients like to see a “fun” side of you, it helps with rapor. You do have to be careful about what you post – Everything you put up on the web is there to stay.

I learned the hard way – I originally put up a Facebook profile a few years ago, added my friends, family and new people along the way. Eventually clients and business contacts began sending friend requests, and I accepted them. Fast forward and I could see potential problems with clients seeing personal information and messages intended for friends or family. So, I had to remove about 400 people and create a business profile. Always keep the two seperate.

Island 2012… Come on, really?

I was sent a video of Casey Serin (World’s most hated blogger) talking about his new “Island 2012” project. After painfully sitting through all 32 minutes, I decided I might provide some commentary. I am somewhat familiar with Casey and his “I am Facing Foreclosure” blog. Let me start by saying “Crazy” ideas, even revolutionary ideas, are a dime a dozen. We all have them. It’s the ability to create a plan and execute it that makes it work.

First, some back story on this video, I will save you the time – Casey wants to start blogging about buying a “tropical island paradise” by 2012 and living on it. He wants to sell ad space on his blog, selling 1,000 units, with each ad unit increasing in cost. For example, the first until will be sold for $1, the second for $2, third for $3, and so on recurring each month. With the money he makes, the goal (I think?) is to buy the island.. For himself.

There are so many flaws here, I am not quite sure where to begin, but let’s try.

First – Why would anyone want to fund a dream that does not benefit them? Why would I want to help YOU purchase an island? I guess Casey doesn’t understand the concept of “What’s in it for me?” – He says you’ll get ad space, and he will blog about you – So what? Big deal. I could purchase ad space anywhere, and if it’s for my business, there are thousands of other sites with targeted users who I’d much rather go after.

Second – The idea is so flimsy. He claims that at 1,000 units he can earn $500,000 a month to help fund the island – But then later says if he falls short, he will do other things with the money, other “investments” – What the hell? Talk about a lack of clarity and focus

Third – While rambling on about what he might possibly do with the money, he claims “we” (see fourth item) can fund some sort of “help Africa” program – Why would I want to give money to Casey Serin so he could feed hungry Africans? Maybe if I hadn’t heard of of any of the hundreds of legitimate non-profit organizations dedicated to helping them already

Fourth – Just because you keep saying “we” when talking about this project, doesn’t give me a warm fuzzy that I will be sipping a pina colada on a tropical island with you, or seeing any benefit whatsoever in investing in this dream of yours. We all know by “we”, you mean “I”

Fifth – It’s quite obvious Casey has no clue how to develop an idea. He thinks from the top down, instead of the bottom up – “If we get 1,000 members.. If we get 500 members” – I am sure you’ve heard the guys who say “If we can just get 1% of China’s population to buy our widget, we’ll be billionaires!” – Casey, what is it going to take to get ONE member? ONE visitor? ONE comment on your blog? How many uniques do you need to get per day to get 1 advertiser? You clearly have no idea how to determine the viability of your ideas, which leads me to my final point – If you could learn HOW to determine which of your ideas was actually viable, learn how to develop it, learn how to market it, you might actually find yourself using your time wisely and using it towards a worthwhile, possibly successful venture.

This idea has failed before it’s even been launched. Is it because it’s just a stupid idea? Yeah, probably, but more importantly, lacks any real structure, foundation or rational thought.

Here is the video, if you want to laugh and have 30 minutes to waste.. Island 2012 Live 08/20/09

Tracking Metrics

I run into many small businesses, specifically web retailers, who do not track any kind of metrics. I cannot stress enough how important it is to know how many dollars you have sold, your margins, cost of goods, customer aquisition cost, etc. If you launched a marketing campaign, how would you even know if it was successful? You can’t make good business decisions without knowing your business by the numbers. I will be writing a lot more on this topic, including providing some templates and other materials in the future. If you need help with creating a metrics tracking sheet and creating a plan, contact me

Accountability as a solopreneur

When you work for someone else, they hold you accountable for your work. As a solopreneur, you need that same accountability to help you stay focused and get it done. As an entrepreneur, we’re already self motiviated and wired a bit different, but we all still sometimes settle into a comfort zone, or procrastinate. Having a group of like minded entrepreneurs who can hold you accountable, push you, and motivate you will help you meet and exceed your goals.

Copyright © Josh Davis
Entrepreneur

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