p2w2 blog » Buyer

How To Find Content For Small Business Blogs

Shruti — Wed, 08 Jul 2009 11:54:52 +0000

“You are what you publish.” is the new age mantra for all small business owners. Blogging is like golfing on the net. Not only do you get to network with prospective clients who are looking for services you offer, it is an important search engine marketing tool as well. Search engines index, categorise and rank a well documented blog. But the question “How to Find Content for your Business Blogs?” remains. Cynthia Trevino has outlined some ideas here that could be considered.

# 1. Look for what the competition is writing about.

# 2. Pick up topics from networking sites.

# 3. Ask your customers about their problems and offer solutions.

# 4. Ask your sales team about frequently asked questions.

# 5. Share your passions and once in a while, blog about your personal matters.

“Good quality content is just another basic business requirement these days. It’s not a nice-to-have. Especially for small businesses without large marketing budgets. Writing compelling, interesting, helpful content and posting it online can help you to be more “findable” when buyers are searching for solutions.”

For further insight into blogging, you can also read this.

The Slow Down Reaches Small Businesses

Chaitanya — Tue, 13 Jan 2009 09:13:54 +0000

Ever thought Enron is history? The past 10 days have been shocking in India as the Satyam Fiasco unfolded. The $ 1.5 billion fraud made headlines across the world. (see Satyam: Sanskrit for ‘Enron’). It’s great to see that the Indian government has acted swiftly (see: India Names New Satyam Board).

Satyam episode is not the only thing bothering me. Layoffs in small businesses have been on the rise. (source) The ADP national employment report indicates that layoffs in small businesses have increased 3.5 times in the past 3 months. In Dec 2008 alone, a staggering 281,000 employees have been laid off in small businesses. This follows 197,000 employees in Nov 2008.

“Sharply falling employment at medium and small-size businesses clearly indicates that the recession has now spread well beyond manufacturing and housing-related activities.”

Historical data indicates that this has been the largest fall in employment in small businesses in the past 8 years since ADP has been collecting the data. The highest prior to this was in Oct 2001, after the dot com bubble burst and Sept 11, in which 125,000 employees were laid off.

This is not good news for the small businesses. I do hope that we will get over the financial troubles soon. What is your own assessment? What is happening in your business and other businesses you know of?

Clients and Service Providers: Partners or Arch-enemies?

Amit — Mon, 12 May 2008 07:51:35 +0000

Have you ever finished a meal at a restaurant and found the experience not worth your time and money? The waiter was not attentive enough, the food was stale, options were limited and finally you got the overall feeling that the management did not really appreciate your business as your attempts to request better service were ignored.
You just joined the dissatisfied customers club.

Could I get some service please? Picture credit: http://www.flickr.com/photos/mandj98/

Most know an unsatisfactory service when we are receiving it. Are we able to think for our own customers and go the extra mile to make their experience delightful?
p2w2 provides you with nuggets from the collective experience of all our users to make your more successful in building a lasting partnership with your customers.
p2w2 Blog had a great post recently on Pitfalls in Supplier Relationship Management. Interestingly, most of those points could apply in the other direction too. Suppliers too can at times get too fat and arrogant and succumb to the same pitfalls. They stop relating to the individual(s) behind the client organization, seek to squeeze too much by atrociously charging for every additional service request, adopt the “take it or leave it” approach when the client is trapped in a dire situation and finally, make every decision a matter of ego.

Another great post is on Freelancer Essentials, and it talks about how to establish as a reliable service provider. I will extend on these posts.

In my own career, I have gained a lot from working with seasoned professionals in customer relations. The need to manage clients and internal teams across the globe makes it even more challenging! This post draws from my experience on the bare essentials in establishing great relations with your clients.

View it from long-term client relationship perspective

In the services business, upwards of 70% of revenue comes from repeat business. Most of the new business comes from referrals from your existing clients. Effectively, your current clients can make or break your current revenue and its growth. What does that tell you? Every issue you have with your current clients should be viewed as if it affects growth of that account as well as a few other accounts. That’s the long term view. If you think it affects your current deal, you can move past that. That’s the short-term view. Which one do you follow?The right approach is to work together to get to a partnership, where both sides care for and actively work towards each other’s success. You give feedback to the client where if affects your business and the other way around. Not every client wants only the best price. They need relationships, timely service, and even references from you so your client can get other clients!

The Expansive Relationship of Two Individuals as An Independent One. Picture Credit: http://www.flickr.com/photos/derricksphotos/

Brighten the relationship with out-of-work activities

Partners share other interests too outside of work. Connect with your customer by finding out shared interests apart from just timely delivery of the agreed services. Photography, blogs, parties, baseball, soccer or Ping Pong… What does your client love to talk about? If you have similar interests, talk about them. If you know other people who have common interests, or can be of help to your clients, connect them. Your client will appreciate that and help you when you are in need.

Ask for feedback; Listen to your customer

Don’t pay lip service to listening to your customers. An often used, but usually poor strategy, is to use someone else (either outsourced, or a different administrative department) to survey your customers.

Your must ask for feedback frequently – what are we doing well for you? Where can we improve? Most people shy away from asking.

There are many benefits from asking for feedback.

First, it gives your client a platform to vent their feelings. You must patiently listen to her. That itself shows to the client that you give importance to her. You are one step closer to satisfying the client.

Second, it helps you narrow the gap between client’s expectations and your performance.

Third, you can figure out if there’s something you have but does not cost much for you but has a lot of value to your client. Discovering such aspects creates mutually beneficial relationship.

Put yourself in your client’s shoes

When you are at the receiving a service, consciously evaluate it. I have personally found this useful.When you are at the doctor’s office, waiting to talk to your bank’s service desk or requesting support from your internal technical/HR/facility helpdesk – were you treated the way you would have liked? What did you like? What should have been better? How can you apply that in the way you deliver service to your clients?

Bad news does not age well

The earlier you tell your client, the better the chance of working together on reducing the impact.

To deliver the message faster and to mitigate the impact, You can set up regular status meetings and using the meetings to disclose or warn about bad news. Being too early is better than being late at all.

Never defend the indefensible

When you make mistakes, accept them. Being passionate about your work and your team is noble. But nobody is perfect and at times we all make mistakes. Mature customers understand there are problems once in a while. Your ability to recover is as important as your ability to avoid most of them. Accept your faults and move on.

Customer is never wrong about the results s/he wants

Customer is sometimes wrong – but they are never wrong about the results they want (e.g. better service quality, faster deliver), but they may often be short- term focused and less knowledgeable about how they want you to achieve it. When a customer tries to tell you how to run your business, you should have the confidence in your own abilities to not let any pressure distract you from applying the right solution to deliver the right results.

Part amicably when things are simply not working out

Finally, there are times when your value systems simply do not match with those of customer’s. When there is too much interference that cramps your style of doing business or you are unfairly treated, it might require you to walk away. If a dialogue with the client does not produce a solution, move on. But you should part amicably. Parting amicably is always better than a bitter lawsuit! But parting amicably gives the client a chance to come back and talk about other opportunities she may have and retains a bit of reference value of that client for you.

Keep track of your goal

At a very high level, these are basic common sense points that we apply in most of interactions in our social circle. But the daily rigmarole can sometimes make us lose track of these when we deal with our clients. Being watchful and not losing sight of what we have set out to achieve – a successful, well run business – should keep us right on track! I would love to hear from you on any other advice you might have for us and your fellow small business colleagues here at P2W2. Please do leave your comments!

No kidding! Your accountant is your wife in office. Choose her carefully.

Chaitanya — Mon, 21 Apr 2008 12:18:50 +0000

Have you heard about an accountant who visited the Natural History museum, where, when he spotted a dinosaur he said: “This is exactly two billion years, and ten months old.”

“How did you figure that out?” gushed an incredulous neighbor.

“I was here ten months ago, and the guide told me that the dinosaur is two billion years old.” he declared.

Now if that sounds like the accountant you hired, you are in big trouble.

Your relationship with your accountant is like that between a husband and wife; it matters a lot and what happens between them is private and confidential.

Your Accountant must be intimately informed of your financial affairs and you must be able to trust her. If she is not trustworthy, don’t touch her with a barge pole!

Accountant is more than just a bean-counter

The right accountant can do much more than prepare your yearly taxes. Are you planning to invest in new options but want a second opinion? Cash-flow crisis? or inventory pricing problem? Your accountant is the person you must turn to for advice. He or she can advise on management decisions, business growth strategy, payroll management, and investments.

I, for instance, sounded off my accountant on capital structuring and tax issues and keep him aware of important developments in the company. Over time, we have worked on our relationship, where I trust him enough to actively analyze, interpret and convert data into actionable business intelligence inputs.

The wrong person on the other hand can cost you money, can cause trouble with tax and other government agencies and can cost you many missed opportunities.

A relationship with an Accountant is about compatibility and long-term

Just like a husband-wife relationship, this too boils down to compatibility. Check out all the facets of compatibility with your accountant as well. Here’s a good to-do.

Conduct a careful search. Seek referrals from professionals you already use and trust, such as bankers, insurance agents, or lawyers, or from companies in similar lines of business.
Verify credentials. Experience has taught me that some prospects claiming to be working as bookkeepers or accountants have no formal license or education in the business. Ask for references from his top three clients. If they happen to be in the same business as you, it’s a good sign.
Double check references. He or she must be listed somewhere. Perhaps she’s a member of the American Institute of Certified Public Accountants, the state CPA society, and/or the National Association of Black Accountants. Verify.
Look for the right chemistry. Make sure you are comfortable with your accountant. It is important that the two of you are generally on the same page. How do you determine whether you have an ideal ‘values’ fit with your accountant?
Bear in mind the following issues when you quiz your prospect:
- Does she understand you, your business goals and your long-term objectives?
- Is she the kind who will be proactive in looking out for newer opportunities for you?
- Are you more important to her than her fee?
- Is she transparent with you about her work? Will she add value to your business? And
- Do you trust his/her judgment?
By all means be choosy and selective. You can make a good decision only after you have tested the market and spoken to a few hopefuls. Pick the one who best aligns with your work style and values.
Factor in your special needs. If you have unusual accounting problems, you should look for someone specialized in that field. For instance, if you need an audit for your company, additional designations such as CFE (Certified Fraud Examiner) could be helpful.
Best is not necessarily the most suitable. No point in hiring the best consultant in town; if he/she has no time for you. In such a case, it’s better to go for someone with a small and sound practice, who has adequate time and interest to help your business.
Seasoned is good. Keeping in mind the changing tax laws and complex accounting rules, a minimum of five years in an industry is a good benchmark to go by.
Finally, Don’t be afraid to switch. There is no point suffering a bad marriage. The problem could range from simple incompetence to a case of bad chemistry. Whatever it is, don’t hesitate to look for a replacement. An accountant is important to your success for you to compromise.

Take your time, get the right Accountant
If you are in a hurry to choose an accountant, you might be making a mistake. This is not one of those activities that can be done in a hurry. You have to take your time. Getting references, talking to them, talking to multiple prospects, and figuring out who suits you, all these activities take time. Give the time it needs so you can get benefited from the long-term relationship.

Remember the old adage? “No pain, no gain.” Happy hunting!

Picture Credit http://www.flickr.com/photos/hendry/

P2W2 SBL: Link building to create massive traffic to your website

Chaitanya — Wed, 16 Apr 2008 14:00:54 +0000

Starting couple of days back, I have started a new series – P2W2 Small Business Links (P2W2 SBL) - where we post quality links on what matters to you. We will post often and we will post only great links. Hope you enjoy them.

Link Building to create massive traffic to your website:

Cutting Edge Link Building Tactics
“Persuading other web sites to link to your own could be one of the cleverest pieces of marketing you do – it’s low cost, highly effective at driving traffic and it can have a dramatic effect on your search engine ranking. Links are one of the most popular ways for people to find new sites and so the more quality sites that link to you the better.”
I Prefer the PowerPoint that came along with the article.
How to Get Piles of Links, Subscribers and Comments
Skellie discusses 18 good ways to get links.

Picture credit http://www.flickr.com/photos/dcjohn/