Top Business Opportunities

Opportunities, Tools, News, Links for Small Businesses


It’s like we’re watching a scene from that dumb reality show, “The Bachelor,” and in this case the bachelor is Yahoo.

Who will walk down the aisle with Yahoo? Microsoft? Google? Time Warner’s AOL? Even News Corp. is getting into the act, considering a plan to team up with Microsoft in its bid for Yahoo.

The Bachelor, aka Yahoo, has a lot of hot, crazy babes to choose from. If you’re a small business that wants to place ads on search engines to get people to click over to your Web site, you just may want to tune in.

Each potential merger scenario could affect the future of your Internet ad dollars.

Most analysts believe Microsoft will prevail in its bid for Yahoo, and while that may seem on the surface to mean higher prices for ads because there will be less competition, think again.

“Heaven would be if Microsoft purchased Yahoo, kept Yahoo intact under the Yahoo brand, and used Yahoo search and Yahoo Search Marketing to power Microsoft Live,” she says.

MSNBC YourBiz

Think retailers are the only ones that should offer gift certificates, think again.

Every business can find a way to extend some form of gift certificate to clients and prospects. Think about the marketing factors at play with this tool. You allow others to pass your marketing message or gain some additional benefit from the relationship they have with your firm - service and product businesses alike can benefit from that way of thinking.

No matter what your firm offers, you can create gift certificates, with real value, and offer them to your clients to buy and use as gifts.

What about as a referral tool?

Two or three times a year send a mailing to your clients and strategic partners and enclose several gift certificates for your products or services (don’t call them coupons, coupons are for yogurt.) Ask the recipients to pass these along to anyone they know who might want to take advantage of the value they offer. And, tell your client that for each one of these that comes back in the door, they will receive some amount off of their next purchase. There is a little tracking involved in this tactic, but the instant rush of new business will make it worth setting up a simple process to accomplish this.

This tool stimulates thinking about your brand and makes you easier to refer - both good marketing things.

ducttapemarketing.com

“The economy has been slip sliding away,” says Witcher, whose 75-man operation also sells and services big rigs and is the Northeast’s largest supplier of Pierce fire trucks. “We decided we wanted another place we could sell.”

As the economy slows, this is a good time to take a closer look at the federal government, the largest buyer of goods and services in the world. The advantages are clear. The budget is set; the government typically lets vendors know where they stand throughout the bidding process; and, best of all, bills are paid on time, typically within 30 days.

Witcher says he has become a government convert. After hiring a consultant to learn how to navigate the complicated process of bidding for federal work, he shifted his inventory control officer to the full-time task of researching potential contracts and has amassed a database that tracks all the bids the company has submitted - won and lost - to learn from its history.

“The federal government is my No. 1 customer now when it comes to parts,” Witcher says. “It has been continually on a growth pattern for us.”

The government buys virtually everything the private sector does, from condoms to coffeemakers to the services of publicists, pest control experts to entertainers. Yet for some, the idea of doing business with the government raises images of can’t win backroom deals. That’s just not the case with contracts in the small business arena, says Malcolm Parvey, a marketing consultant who has coached Witcher’s company and others on how to win federal bids.

Most of the work is awarded electronically, he notes, through a rigorous procurement process that takes time to master. There’s a high level of transparency, too. The government even lets bidders see who their competitors were and how they priced once the job is awarded.

“I know that small businesses have a great interest in this market; they just don’t have the time and they don’t have the expertise to go after it,” says Parvey, co-author of a new book, “Winning Government Contracts,” due out in February from Career Press.

The book is the latest attempt to simplify what can look like an insiders’ game. There are many guides on how to get federal work, including the government’s own tutorials at the Web sites of agencies such as the U.S. Small Business Administration and the U.S. General Services Administration as well as popular sites for searching federal procurement such as FedBizOpps.

“With the Internet what used to take 10 days now takes 10 minutes,” he says. “There are more and more agencies that are allowing competitive bidding to be done over the Internet.”

reuters.com

Trade shows offer inventors and entrepreneurs the opportunity to reach a large number of potential buyers and retailers.

The most important thing you can do before attending a trade show is to make sure you choose the right one. Be sure to make your choice based on the potential returns.

To choose appropriate trade shows, consider the following:

  • Ask your best customers (or target customers) which trade shows they attend.
  • Consider cost.
  • Examine the nature of the attendees.

To find potential trade shows in your industry, visit tsnn.com, where you can search by industry, show name, date or state. You should also visit the website of the industry association related to your product; most sponsor trade shows for members and buyers to come together.

msnbc.com

Designer Adam Ellis has reinvented the ice cream truck. In doing so, he’s reinvented a street vending business. Boutique flavors, a chandelier on the inside, and a truck that customers can write on, this is the ice cream truck overhauled, inside and out. An awesomely unique truck begs to be explored, and clearly has something different to offer.

Adam’s truck reminds adults of their childhood - but with a twist. Ice Cream trucks have pretty much disappeared from the suburban landscape. What Adam has done is taken a good idea that’s expired - and reinvented the concept for a different time.

How does this relate to your business? You’re probably looking at something within your environment that you take for granted. That blends into the background. That has long been forgotten, or no longer useful. Examine your business - your marketplace, and your environment, and ask, what could we reinvent? What could we do differently than anyone else in our business?

Being different allows you to capture the interest of potential customers, retain the love of your evangelists, and stand out in your marketplace. And sometimes it’s as simple as reinventing the ordinary things right in front of you.

Smart Biz Blog

Chris Reed is founder and chief executive of Reed’s Inc., which produces a line of natural sodas. And he’s a fan — some might say a fanatic — of the pungent herb.

Each year, his company chops 1 million pounds of fresh ginger, enough to fill 28 big-rig trailers. In addition to sugared ginger candies and ice creams, he produces six ginger brews: Spiced Apple, Raspberry Ginger, Cherry Ginger, Original Ginger, Premium Ginger and Extra Ginger, the last of which packs 26 grams’ worth of the stuff.

In a business dominated by Coke and Pepsi, healthful soda sounds like a contradiction. But unusual beverage companies such as Reed’s are etching out a niche within the carbonated beverage industry, which sells about $28 billion worth of drinks annually to U.S. consumers, according to ACNielsen.

Natural sodas saw 36.5% sales growth in conventional food stores and 12.4% in natural food stores during the last year.

LA Times

As soon as the iPhone hit the market, BlendTec purchased one and made the following clip and put on YouTube. So far, the clip has been viewed 2,041,340 times, commented 6,048 times, and favored by 4,383 people.

Monthly sales through the web for the Total Blender is currently running at more than 5 times our previous “record” month. This number continues to grow each month.

George Wright
www.blendtec.com

Looking to bring in new business? Then you’re probably on the watch for government contracts coming up to bid. If you’re not, you should be.

Together, federal, state and local governments buy over a $1 trillion dollars in goods and services each year. A not-insignificant amount of that money gets funneled into multimillion-dollar constructions projects. But other federal, state, county, city and town funds get earmarked for smaller projects - everything from website development to brake parts, motivational speakers, pre-printed plastic bags, and alfalfa. Some of that money could be yours if you pursue and win government contracts or subcontracting work from the companies that win big contract awards.

Web sites you may find useful:

  1. www.fedbizopps.gov
  2. www.onvia.com
  3. www.findrfp.com
  4. The Dodge Report

Read this very useful article at Business Know How.

Have you ever wondered …

  • Why even the highest priced or lowest quality products sometimes outsell their competitors’?
  • Why and how your prospects buy the products or services they do, even if their choices seem irrational or impractical?
  • Why some brands have a devoted cult-like following while others have zero loyalty?

Will The Real Decision Maker (In Your Brain) Please Stand Up? — According to neuroscientists, there are 3 main parts to the brain, each functioning as a brain unto itself. These “three brains” - nestled inside one another — are as follows.

  • The “Human” (”New,” or outer-most) Brain: Most evolved part of the brain known as the cortex. Responsible for logic, learning, language, conscious thoughts and our personalities.
  • The “Mammalian” (Middle) Brain: Also known as the limbic system. Deals with our emotions, moods, memory and hormones.
  • The “Reptilian” (Old) Brain: Also known as the R Complex controls our basic survival functions, such as hunger, breathing, flight-or-fight reactions and staying out of harm’s way.

Our “old” brain often overrides our voice of logic and drives all buying decisions for reasons beyond our conscious awareness. To influence your customer’s buying decisions, you must learn how the “old” brain operates and speak its “language.” Below are 7 key insights about the old brain that can add to your bottom line.

  1. The old brain is driven by emotions.
  2. The old brain “decides” on the basis of the gain vs. pain tradeoff.
  3. The old brain is highly influenced by beginnings and endings.
  4. The old brain is visually oriented and responds rapidly to images.
  5. The old brain perceives the “pain of buying” in relative, not absolute, terms.
  6. The old brain understands only what is tangible, physical and concrete.
  7. The old brain’s control over buying decisions varies from culture to culture.

While neuromarketing is still in its infancy, it has the potential to revolutionize the way we market our products/services. The most important point is to use it for the right reasons. That is, as a way to better understand your customers and ultimately to better serve them. When used in this way, it can have a dramatic impact on your bottom line.

Business Know How

When pop princess Ashlee Simpson was first photographed last summer post-nose job, it wasn’t just her plastic surgery that garnered mass attention. Sales of the dress she was wearing in the photo skyrocketed.

In the current celebrity-obsessed scene, an A-list star - on or off the red carpet - shown wearing a new designer’s creation can almost singlehandedly launch a fashion frenzy.

When Jessica Simpson stepped out recently in West Hollywood with Sang A’s “jade” clutch in blue python, blogs were quick to post her picture and solicit comments. And with the attention, from sites such as Pop Sugar and Style Minded, came demand for Sang A’s new $1,576 handbag.

Accessories designer Sang A learned early on that reaching out to the online community could be a crucial element of hawking her high-end handbags, which range in price from $1,500 to $15,000.

With a limited budget for marketing, Sang A has since come to rely heavily on blogs not just for attention, but also feedback.

The sites she chose to sell her wares, such as luxcouture.com and lagerconne.com, have developed mutually beneficial relationships with bloggers by incorporating reciprocal links.

“Blogging is absolutely important because it reaches the people that aren’t inside the fashion industry,” Sang A said.

CNN Money

For business owners, the $1.6 trillion “Mommy Market” is well worth pursuing. In the book Trillion Dollar Moms, Maria Bailey and Bonnie Ulman teach you how to take advantage of this lucrative market. They describe three generations of moms: baby boomer moms, Gen X moms and Millennial new moms. If your company is still marketing to soccer moms, you’re missing two-thirds of the mom market.

Their book examines how recent generational shifts have impacted the buying behaviors of today’s mothers and moms-to-be.

  1. Focus on networks
  2. Embrace technology
  3. Offer education
  4. Save them time
  5. Get to the point
  6. Market to the individual

Want more information on marketing to moms? There’s a Marketing2Moms course offered by Moms in Business. It’s a 16-week e-mail course that’ll help you understand and market to today’s mom.

Entrepreneur

Online video is becoming the killer application of the Internet as b-to-b marketers embrace it as an integral part of their marketing programs, using it in such disparate formats as 15-second banner ads and long-form documentaries.

Spending on online video advertising will more than triple in the next three years, growing from $775.0 million this year to $2.90 billion in 2010, according to research company eMarketer.

With the anticipated surge in spending, media companies are scrambling to get in on the action, as demonstrated by the partnership announced last month by NBC Universal and News Corp. to form an online video ad network.

In announcing the as-yet-unnamed venture, News Corp. President-COO Peter Chernin called it “the largest ad platform on earth,” with an audience that will reach about 96% of the U.S. Web viewing audience. The video network will be distributed by partners including Microsoft Corp.’s MSN, News Corp.’s MySpace, Time Warner’s AOL and Yahoo.

Already, the video venture has lined up charter advertisers including Cisco Systems, General Motors Corp. and Intel Corp.

BtoB Magazine

What happens to businesses when people expect to get things free? Especially small businesses? Surprisingly, an increasing part of our economy is based on the concept that customers get something for nothing.

The Internet is the prime example. Sure, you may (or may not) have to pay to access the Internet, but once you’re there, you expect to get information, entertainment, advice all free. Good for you. Good for companies that sell technology to Internet companies. But is it good for companies that create the information, entertainment, provide the advice?

Chris Anderson, editor in chief of Wired magazine and author of The Long Tail, explained the economics of giving stuff away in his keynote address. Anderson’s a proponent of the concept of giving things away free, and his next book, “Free: The Economics of Abundance and the Price of Zero,” is likely to further spread the gospel of that business model.

Moreover, people don’t value what they get free. Even Anderson recognizes this, “When the price of something falls to zero, you get waste.” People value what they pay for. A person who pays $100 for a ticket to an event is likely to show up; when they get it free, they’re just as likely to be a no-show. That’s why I advise entrepreneurs that even when you give your products or services away, especially to a prospect or current customer, you should always indicate the price, then waive it. It shows the true value.

Small companies are not in the same position to give stuff away free — whether it’s a physical product, intellectual property (content, music, art, consulting), or time. Their resources, both of money and time, are far more limited.

But the reality is that the “free” movement will continue, and small companies are going to have to grapple with this challenge. New business models are going to have to emerge for small entrepreneurial companies to survive.

By RHONDA ABRAMS @ Gannett News Service

Beverly Sills, America’s best known opera soprano, died yesterday and I was struck by a quote she made during a past New York Times interview.

“I always had a theory that people became a superstar because they could do one thing better than anybody else in the world,” she said. “I think there was an aria in Julius Caesar called ‘Se Pieta,’ and I used to think I sung that aria better than anybody.”

I love that notion - now think about your business. What one thing can you claim to do better than your competition, better than anyone else in the world. You’ve probably got to shed trying to be all things and strip your business down to doing just one thing better than anyone else.

Maybe you already do one thing, maybe you need to figure your one thing out - either way, narrow the focus of your communication to something you can claim to own and own it.

Duct Tape Marketing

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