MarketingMoment

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Choosing a good business name is important not just for the legalities of operating a business, but also for making sure your prospective buyers choose you instead of your competitors.

Some experts say that your business name is the first thing that any potential customer will notice and is therefore more important than your sales pitch or even your end product.

I wouldn’t necessarily go that far, but it is certainly true that the name you choose will strike either the right – or wrong – tone with your potential customers.

Successful organisations don’t just invest in developing good names, they work hard to develop a brand name. Because, over time, a brand is capable of doing the selling for you…

People remember a good business name. So what does yours say about you?

A lot of ‘modern’ business names either use the name of the person (if it’s a consultant, for example), which is fine, or they play on words.

I’m not a huge fan of using a play on words in a business name. My feeling is that it doesn’t make the name any more memorable (which is presumably the intention), and it can look a little on the conceited, self-important side.

Another mistake is putting the personal element in a business name. You’d do a LOT better if you chose a name that immediately gets across what you sell or do, and perhaps how you stand apart from the competition.

Speaking personally, if I were to choose my own business name again, I would choose something that adds more of a perceived value, without being ‘cutesy’ about it.

A good business name should be short, unique, memorable, distinctive, catchy and, more importantly, easy to remember and to spell!

When you do settle on a name, make sure you do a search on the internet, just to make sure you are not unintentionally offending someone – often words translated into a different language or culture can really mean something else! Finally, make sure you always consider the legal ramifications of your chosen company name.

If you want professional help with finding and selecting the right business name, just let me know. Prices start from just £97 for up to five original names from which to choose.

Copyright, T L Dooley. All Rights Reserved.

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Fellow blogger Brad McCarty has a very interesting and useful post on social media, sparked by TWiT’s Leo Laporte anti-social media rant. It’s worth a read, especially if you are a fan of social media, as Brad defends its corner in a tight way.

But I think his last sentence is the key: “It’s your time, so spend it how you choose.”

Social media will work for the right people in the right circumstances, but there’s no denying that it can take time. Not just in terms of learning as much as possible about how to use each social media outlet, but also taking the time to ‘know’ your audience and give them what they want as well as work out how best to deliver it via social networking.

Moreover, I think it’s worth asking yourself what you want to get out of social media. Far too often, people jump on the bandwagon that’s carrying the latest craze without stopping to work out WHY they’re joining up in the first place.

So, if someone were to ask you what you want to get out of social media, would you know instantly?

Once you are clean on your objectives, then surely you are better placed to come up with a strategy for a better return on your investment … of time.

What do you think — is it time to re-think your own approach to social media?

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Picture by ‘Alan Cleaver” via Flickr

Now that the initial dust has settled on the budget it is time to take a serious look at your cash flow. Yes, granted some of the measures introduced –– higher rates of tax, reductions in relief, increased employer NICs –– raise the anxiety barometer, but there are specific tactics that can help keep your business afloat (and help reduce your blood pressure):

1. Cut Debt via Efficient Invoicing. Most companies have a monthly bill cycle, but if you were to invoice as soon as projects are completed, then you could effectively improve your cash flow by 30 days. Better still, offer an incentive to bill a client at the beginning of the project. Try to better manage late-payers, too. Invoices should be re-issued a limited number of times, and if payment still isn’t forthcoming then consider a more serious course of action.
2. Attract More Customers. If you rely heavily on just one or two major clients and you suddenly lose them, then your income may well go below zero overnight. Your business will be much safer if you have a large client base. That way, if a client goes bankrupt and can’t (or won’t) pay and  that represents 10 per cent of your income, you still have a heart-relieving 90 per cent of left.
3. Encourage Long-Term Retainers. Not every job need be a one-off. Charging a retainer fee for a regular type of work –– such as blog ghost-writing, SEO or website maintenance –- can give your business security when it comes to cash flow. Clients may be encouraged to work on a retainer basis with you if you offer them a discount on your usual fees on account of the fact that the work will be consistent. Most people charge up front for retainer work (ie, in advance at the beginning of each month).
4. Prioritise Your Workload. Organisation and time management is a challenge for any freelancer or small-business-owner, but to keep your cash flow healthy you need to keep focused AND prioritise the ‘high-yield’ income earners. This means doing the work that will bring you the most cash in the least amount of time first BEFORE you check your blog or Facebook page. Completing billable work is always your cash-flow’s best friend.
5. Outsource. Taking on someone with the skills and experience of a good copywriter, say, as an employee is prohibitively expensive. This is especially true as copywriting isn’t your typical day-to-day, full-year activity for most organisations. Which is why outsourcing to a freelance or self-employed professional makes sound financial sense. By varying the type and amount of services you buy in, you’re paying only for the actual skills needed. Additional benefits include no overtime, sick or holiday leave to pay, no PAYEE or national insurance to fork out for, no recruitment or training costs and no paying for people sitting at their desk twiddling their thumbs when there’s a shortage of projects.

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Despite the official end to the recession, the UK’s economy is still wavering and the immediate future looks anything BUT bright. So it’s little wonder if you’re feeling like most people in business; looking over your shoulder, wondering if you’re next in line to lose your job. If you own a business, then it’s likely you’re worried about the latest ’sales slump’. One thing is for sure; you can’t afford to be complacent right now. You absolutely MUST continue to market … perhaps more aggressively than ever before. (See my blog post, Business Survival Tools: Don’t Get Left Behind: http://TwitPWR.com/au6/)

The lead article in MediaMinister’s latest newsletter, Communiqué for Success, shows you how you can promote yourself in new, creative and low-cost (or F.R.E.E.) ways to bring customers through the door in ANY economy.

To read the full article and gain *hidden links* to recent CfS newsletter editions, you’ll have to become a subscriber. (That’s a good thing, by the way, or so CfS readers tell me!) As well as being FREE, you’ll receive a business-building report and audio CD that can dramatically improve sales simply for signing up and trying it out.

Subscribe here.

(You can unsubscribe at any time, and I NEVER abuse my subscriber’s email address. Your details are safe with me.)

Recent CfS newsletter issues cover:

Subscribe here.

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When you next attend a networking event in person, wear your name badge on your right-hand side. This is what top networkers and marketers do. Why? Apparently, when you are introduced to someone your line of vision immediately falls to the right. Putting your name badge there, while most people place it on the left, is bound to get you noticed –- and hopefully remembered.

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One of the most common complaints I hear from solopreneurs (self-employed professionals) is that they don’t have time to market their business, to which I relpy, “Then you need to make time!”

Of course, the easiest and most obvious solution would be to hire outside help. A marketing professional can help you on an ad-hoc or a permanent basis, and so ease the pressure of ‘finding’ time to carry out this important business function.

However, when budgets don’t allow for outsourcing, then your  primary concern should ALWAYS be to make sure you never stop marketing . . .  whether you’re a service provider with too much work, or a retailer experiencing a boom in orders.

It doesn’t matter how good (or bad) business is, you absolutely MUST make time to promote and market your products and services.

The worst position to be in is when you don’t have any clients, or projects or sales because you didn’t make time for marketing or, worse, didn’t think marketing was necessary. It IS. And no one is too busy to not market.

Look, regardless of where we are in our lives or business, we always make time to schedule doctor appointments and the like. Perhaps you have a system on your computer that helps you keep track of these and other details. All I’m saying is that in order to run a successful business you need to add marketing activities.

Don’t know where to start?

Start right now – TODAY!

Block out a few hours, minutes even (at least 20, though) in your daily schedule to complete one or more marketing tasks. And while you’re at it, why not put together a marketing plan – a mini one will do? Come spring time, you’ll be far ahead of where you thought you’d be.<

Remember, success is the sum of small efforts, repeated day in and day out. A daily marketing system is your roadmap to success. So make time for it!

***Need to be accountable to someone, or need help with your marketing goals? My mentoring programme can help you start off – and keep – on the right track.

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There you are sitting at your desk sneaking in a quick game of WordTwist on FaceBook / cleaning your keyboard for the 15th time today / reading blogs, Tweets, websites, anything but tend to the actual task in hand. You know you SHOULD be writing content for your first email newsletter. But somehow you just can’t get motivated. That blank screen beckons. Another game? Help!

Don’t panic!

There are a number of ways – ranging from the ridiculously easy and quick solutions, to the more involved.

One of the first options is to start with what you have to hand.

Have you kept any interesting emails – either from customers, quizzes, quotes, competitions or even junk mail? How about questions from clients, prospects, colleagues, friends, etc?

Think about what came through the door today – is there anything you can share with your readers? What about industry news, statistics or trends? Perhaps you have new products or services to offer. You can write about those. How about a ‘subscriber only’ special? An interview with your marketing director or an industry leader?

All these nuggets – and more like them – will form great fodder for your newsletter. They could take the form of articles, news, events, competitions, ads, interviews, tips, and so on. I’ve written pieces on how social media impacts on business, the secret to turning a postage stamp into a stampede of customers, the significance of proofreading a business document, how to write good headlines and so on.

Excerpt from ’Newsletters that Build Customer Relations AND Fill Your Inbox with Orders‘ – my step-by-step  MasterClass home-study system shows you just how easy-peasy it can be to create or polish a so-so newsletter that reflects your business in the best light. Chock-full with useful tools and specific examples on how to set-up, write and send out your business-building newsletter, it really does remove the pain from newsletter publishing. Get the full scoop here.  

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Just made my first ever video. It’s called “The BIG Question…” and you can watch it: http://bit.ly/do6wUg

Or here on this blog:

Would love to know what you think. (Be gentle!) 

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Sometimes, it can seem as if the world is conspiring against you and your marketing efforts. But not if you use a time-tested powerful headline.

In the world of marketing communications, both online or offline, your headline can lead to marketing success … or failure. Copywriting and marketing pros alike turn to certain headline formulas that they know will always work well.

In the lead article in MediaMinister’s latest newsletter, Communiqué for Success,  I present my favourites, and show you how you can use each one in your own marketing. To read “Top Proven Headlines to Boost Sales” as well as the rest of the ezine, please sign up first. (You can unsubscribe at any time, and I NEVER abuse my subscriber’s email address. Your details are safe with me.)

Subscribe here.

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There are only 24 hours in the day, and yet there seems to be more and more demands placed on us as every day passes.

In order to be successful, not to mention enjoy a good work-life balance, it is crucial that we manage our time effectively — especially if we are sole traders. But how many self-employed workers can honestly say they are winning the time game?

As we all know, time is money. And once your time has been used up, it’s gone for ever; there is no  way of getting it back. So make sure you have control over your time, rather than time controlling you.

Start by ‘compartmentalising’ your days, mapping out time slots for each task you have to accomplish. The most important stuff should take priority over non-urgent or non-profit tasks. Don’t forget to include your personal appointments and absolutely make time for ‘quiet time’ and ‘creative time’ in your diary.

Ten to 15 minutes of daily ‘quiet time’ is essential for your overall wellbeing and can help with productivity (you always approach things with a lot more zest after a break, right?). Try gentle yoga or gardening, or read a book, or do some deep-breathing relaxation exercises or meditation. Ideally, keep your ‘quiet time’ at the same time each day.

Your working week should incorporate an hour or two of uninterrupted ‘creative time’, where you contemplate the ‘big picture’ — think about what you want for your business and your personal life, and try to come up with ideas how to start living the future you want.

***Need to be accountable to someone, or need help with your marketing goals? My mentoring programme can help you start off – and keep – on the right track.

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