Posts Tagged ‘small business info’
October 4th, 2010 | 
Author: Ebay sellers and small virtual stores are becoming quite the force in the world of online shopping. New eBay research shows that consumers prefer small online shopping stores to major retailers in some cases. In fact, consumers prefer online shopping with eBay sellers. Customers prefer the smaller online shopping stores to larger retailers when buyer protection programs are in place.
The eBay research showed that 52% of online shoppers like shopping with small virtual stores. Seventy-eight percent of customers say that they are more likely to purchase from smaller online shopping stores if the e-merchant is a part of a community that offers buyer protection. This benefits eBay sellers because the buyer protection is considered to be a major selling point for consumers. Approximately 47% of consumers agree that online shopping stores are more competitive when buyer protection programs are in place.
The eBay buyer protection services available to eBay sellers help build consumer trust. The eBay protection programs cover PayPal purchases in situations where the eBay seller is unable to resolve issues with the online shopper. The research shows that EBay sellers win with buyer protection.
Posted in 
Tags: 
The global economy made it possible for companies to outsource various components of their business processes throughout the world. Small businesses have been able to take advantage of the opportunity for savings by utilizing outsourcing companies in cheaper labor markets.
There is definitely a benefit in offshoring certain processes, but there are also some risks in doing so. Small businesses should consider the following risks when evaluating their virtual outsourcing needs.
Possible exposure to security risks and small businesses
Some companies see value in having their virtual outsourcing needs met through offshoring. But offshoring can expose a company to increased security risks on many levels. Sensitive client data can be accessed and redistributed in error, or intentionally resold for commercial reasons by the outsourcing firm abroad. A company may run the risk of falling victim to a possible security breach because the company data is now accessible outside of the US.
Communication barriers and cultural misunderstanding in offshoring
Whenever a vendor is selected to handle a small company’s virtual outsourcing needs, the beginning stages of the partnership can be the most challenging. The beginning stages can become somewhat complicated when working with a virtual outsourcing firm that is located abroad. There is a potential for cultural misunderstanding and possible communication barriers. Using a local outsourcing provider helps bypass some of the challenges associated with a lack of cultural misunderstanding.
Multi-year contracts with offshoring firms
Many companies that work with virtual outsourcing providers are under multi-year contracts. Multi-year contracts help a small business budget and anticipate costs for a set number of years. Because businesses go through cycles, a small firm may find that their financial circumstances can change. This has especially been the case in these current economic times. Certain provisions make it difficult for the company to get out of the multi-year contracts. Local outsourcing providers tend to offer more flexible solutions. Small businesses find that local virtual outsourcing solutions companies are able to contract on an on-demand or month-to-month basis. A small business can circumvent the complicated process of negotiating or unwinding a lengthy multi-year contract.
Complex processes more easily handled by local outsourcing providers
Small businesses can really benefit from virtual outsourcing solutions companies for call center services. In fact, simple order intake processes can easily be handled by offshoring service providers. As the processes become more complex, there may be a need for more extensive hands-on involvement and training. Should the processes become increasingly complex, as some business processes do when a business flourishes, a representative may have to travel abroad frequently to handle training needs. The process of training a team is complicated, and the small business owner may find this process to be cumbersome. Local virtual outsourcing providers can easily recruit and identify the necessary resources with the required skill sets to seamlessly adapt to more complicated processes.
Benefits in using local outsourcing solutions providers
Utilizing local outsourcing solutions providers offer many benefits. Working with local outsourcing providers minimizes security risks and the likelihood of a security breach, or misuse of company data. Cross-cultural misunderstanding becomes less of a concern in outsourcing locally. Local virtual outsourcing providers have more flexible short-term contract solutions. When the process of a small business evolves, the local virtual expert is better-equipped to identify the talent with the necessary skill set needed to handle the business process changes.
Virtual outsourcing solutions companies are a great option for small businesses in need of additional support. Small business owners are encouraged to think long-term when evaluating their business process needs.
How to deal with slow business …
I remember sitting in a powerful business seminar several years ago where they talked about “honoring seasons” in business. I thought it to be a great lesson and it did leave a lasting impact with me to this day. I had been struggling with the challenges that small businesses often deal with in the beginning stages. I felt that I had put in the work and all of my efforts weren’t yielding the results I desired quickly enough.
The woman talked about ‘honoring seasons’ and remembering that your business will go through phases. The seminar discussed how business owners needed to remember to relax when business is slow and utilize the “down period” for personal growth and development. This period was identified as a “winter” or “fall” as far as seasons were concerned. I realized that the business has to grow in stages and the entrepreneur has to honor the various stages. This was a different approach to me, as I had grown quite comfortable in the state of perpetual angst and worry. Many business owners end up in this state during the slower periods in business.
I challenge business owners to take the slower periods in business to regroup, recharge, brainstorm, network, strategize, and grow. Learn to view the variations in business volume as an opportunity to renew and regroup. The seasons in business are always temporary.
Why is Marketing So Hard?
When the phone does not ring like its supposed to, more business owners are blaming it on the economy but it may be because essential business basics are not the priority. Let’s start with the essentials. Marketing is not about being funny or clever, it is about testing to see what works. My favorite marketing guru – Dan Kennedy has really put it into a form that makes sense to me. He says, “If your marketing is not working, 99% of the time it is because you did not follow this simple formula”.
The Formula is a Equilateral triangle ( all 3 sides are equal length)
Side 1 – Market: figuring out the who first. Not deciding to market after the product is done. Figure out the who first and then how do you reach them. Most business owners do this backwards. They read traditional stuff that says – do what you love and the money will follow–but what I love to do is watch TV (as many of you know) and eat Mexican food. That job is taken by the Taco Bell Chihuahua and even he got fired.
Focus on who is going to buy your product or service. Think through this one. Even at the telephone company – everyone needs a telephone right? Well, I was crazy trying to reach everyone. I didn’t have enough money to fight with the existing telephone carrier, the 33 other small ones like me and then Cable entered the market and I was doomed. I have to find a niche a target.
Once I found a target, then, I could consistently talk directly to them for less money. I could effectively reach a certain group that made us famous!
Side 2 – Message: Getting your message right. It should be focused and laser sharp so that your target market after reading your ad, hearing your presentation, walking into your store, will say – this is for me. Hey, it seems like they are talking to me. Since my target market is credit challenged customers, they typically have other challenges. They tend to borrow money from relatives to get them out of a bind. My radio commercial was a girl calling her aunt asking to borrow money. My customers would come in and say – I did that last week. My mother hated the commercial said it was demeaning however, my customer did not have a problem. Even my offices, they were not fancy in a fancy building. They were in a strip mall, or one was inside of a pay day loan company for years.
Side 3 – Media: This should be the last decision you make. Choose the media after you have determined your market and message. My customers were not readers so I had to figure out another way to reach them. There weren’t any magazines or newspapers that they read. So I chose radio.
Bio: Richelle Shaw is the only female African American Public Utility Owner in the nation – and Leading authority for business building.
Procrastination is generally defined as avoided tasks or activities that need to be accomplished. Poor time management and procrastination can be a direct result of having unreachable goals, having to meet others’ standards, disorganization or the inability to handle the task.
Below are ways to erase daily procrastination in your business.
- Use the first hour or two of your day to work on things that require your attention or have deadlines. Accomplishing necessary tasks will invigorate you to do more.
- Inspire yourself with insightful reading. Read at least one business article daily and take action. Try implementing a new idea. Don’t just read about it, but do.
- Afternoon organization can make the next day easier. Take 15 minutes at the end of each day to think about tomorrow’s priorities. Knowing what needs to be done at the beginning of each day gives you focus and direction.
- Break large projects or tasks into smaller activities and schedule them on your calendar as appointments. Do them in 30-minutes, 1-hour or 3-hour time blocks. You wouldn’t interrupt a scheduled appointment, so don’t allow unnecessary interruptions when working on your projects.
- Don’t make lofty goals. Be reasonable in your expectations of yourself, your time and your commitments. Overextending yourself can cause you shut down. Be practical and realistic.
It’s always helpful to identify the source of your procrastination. Take some time to think about why you are putting things off and then try one of the above techniques. Procrastination can really be a struggle and challenge for small business owners, especially when they are simply overwhelmed and unsure of their next move. Take it one step at a time and be conscious of your actions AND inaction.
A.Michelle Blakeley is the Founder and CEO of Simplicity, Inc.; a progressive small business development firm. She manages her clients’ business expectations and prevents information overload via Micro Business Therapy™ and Micro Business Action Plans. She is featured in Forbes.com and the Financial Post as one of 30 Women Entrepreneurs to Follow on Twitter and the host of Simple Truths for Women Entrepreneurs on BlogTalkRadio.com.
Many small business owners know that handling the administrative day-to-day challenges of running a business can be overwhelming. This is especially true with solopreneurs. I have put together a list of questions to help you decide whether or not it’s time to consider outsourcing one of your business processes.
- Will you be able to handle all of your administrative processes without significantly impacting the time you put into generating sales?
- Are you able to get all of your administrative tasks for the week done in less than three hours?
- Are there peak times for when a shift in workload occurs within your small business?
- Do you find the routine administrative processes like billing, invoicing or typing draining?
- Do you enjoy doing the more mundane clerical tasks required of your business?
If you have answered ‘yes’ to two or more of the questions above, it’s definitely time to consider getting help with those processes. You have the right as a business owner to enjoy what you do. Your business thrives when you are able to spend the bulk of your time doing what you love.
The CARD Act was recently passed to provide consumer protection to credit cardholders. Many of the protections extended to consumers do not necessarily apply to business credit cardholders. Small business owners may soon be extended such protections under a new proposed measure in the Senate. The measure will be attached to the Senate jobs bill.
Business cards account for an estimated 15% of volume charged on credit and debit cards.
Click here to learn more!
