New FTC Rulings will effect small business owners! December 5, 2009

As of December 1st, the FTC’s new rulings on internet marketing and advertising took effect. Among the changes is a ‘transparency’ requirement that sets a precident for the world of information marketing. The biggest change isn’t that you need to tell people what to expect, we’ve done that for years, but you need to provide information on the typical results for your products and have the statistical data available to back up your claims. This means that using the best testimonials (the cream of the crop) will not suffice for marketing any longer. Per the new rulings, utilizing a one sided view of a product is akin to lying. The “Truth in Advertising” act has in effect been extended online and will be inforced as much as it can be.

Before you go screaming to your website designer for changes, there’s more…

Another change in the rulings effect Affiliate promotion and cross promotions where monitary gain is concerned. Again with the transparency thing…If you are promoting a product for someone else and you are paid for this act in any way you now must state somehow how you are affiliate with that product.

Now, the full extent of how these ruling will effect small business owners is still unclear. What is clear is that changes are coming and they are coming fast. If you utilize affiliate programs, testimonials, or advertise in any fashion you will want to read through the rulings and make every attempt to be as compliant as possible. This may mean consulting with a savvy attorney or sitting down and penciling out your plans against the new rulings. Whatever your method, now would be best to get on top of everything.

A copy of the rulings can be found at http://tinyurl.com/ygcmpfd.

For more ideas on how you can work within the new rulings, check out Michel fortin’s blog post on FTC Ruling and Social Media at: http://bit.ly/DJiNv

Book of the Month, coming to a blog near you December 3, 2009

I like to read. I’m not the fastest reader on the blog, but that doesn’t stop me from reading and learning. Especially since I know that reading helps me to stay on top of my business. I’m not talking work load here, but rather the rate of expansion and the technologies that help me do my work more efficiently and effectively. It’s also about knowing the industry and keeping up with the changes.

I’m not one to freak out every time the stock market takes a dive or buy something because someone else said it was a good idea. I’m talking about staying informed and learning or relearning some of the tools, techniques and innovative concepts that are out there. I believe that everyone who is in business should stay informed and above all read.

So, in an effort to keep good information flowing I will post one book per month that focuses on business innovation and marketing. If you have a book suggestion, one that has helped to propel your business, please send me a note so I can review it and possibly post it as the book of the month! (And yes, you could be the author so long as the book is beneficial to more than just one type of business.) I look forward to seeing your reactions and hearing your suggestions on the blog!

Making Money Through Blogging November 19, 2009

There are many ways to turn a traditional blog into a money making opportunity. The simplest and most common money makers for bloggers are advertising and syndication. But it’s not necessarily as simple as cut and paste. There are many different forms of each and it is important not only to review your options as they come, it is also important to understand the fundamentals behind your blog and your readership.

Advertising

Advertising on blogs is the simplest and usually the first step anyone can and should make when turning a blog into an income generator. When doing this it is important to keep in mind that your blog is all about the content, not the advertisements. You can’t turn your entire blog into an advertisement. You will alienate your readership and kill any hope of gaining revenue from that blog. There are several options to consider when thinking about blog advertising. The first is to determine what type of advertising you want to share. Do you want to advertise your own products? Do you want to share information and ads from affiliate programs you belong to? Do you want to sell ad space on your blog? Once you know what type of ads you will be posting, consider where on your blog you will post them.

Posting an Ad on your blog can be done in one of two ways. The first is to create a separate page for advertisements and update this page frequently. With this option anyone who views your blog through an RSS reader will not see the ads you post. Ads on a page are only seen when someone physically visits your blog. The second option is to post an ad the same way you would post a message on your blog. With this option you are certain that the ad goes out to anyone who views your blog. The downside is that the more often you post the lower in the posting history that ad appears. It is possible to both post an ad on a page and post a that same ad on an Advertisement page on the same blog. Doing this ensures everyone can see the ad and you can potentially earn more from that ad, but it will take twice as long to perform.

Before you go through the process of signing up for affiliate programs or soliciting for ads, be sure to read the rules and bylaws of your blogging platform. Some platforms, such as WordPress, restrict the type of ads you can place within your blog as well as the types of outside code they will support.

Syndication

Syndication for a blog occurs when an outside entity pays you, the owner, for the content within your blog. This is usually for both current and future content. How much you are paid and the length of the contract varies from contract to contract. Though you can solicit such contracts, in general those who are seeking the type of articles/posts your blog contains will find you when they are ready to begin contract negotiations.

Syndication takes time. Those who buy blog content (and in effect the blogger) look for consistency, style, and content type when choosing whom to contract with. The longer you blog and the more consistent you are with your blogging the more likely it is that your blog will be syndicated.

Why do I keep a website? Everyone finds me through my blog November 16, 2009

I recently asked myself this question as 90% of the calls I get are from individuals who found my blog. For me, having a website means more than just the collection of information you can find within its pages. It tells me that I am a legitimate business entity. What business do you know that works online that doesn’t have a website? A blog is not enough for me, but apparently it is strong in google. (can’t really explain it, other than they must like the articles and lack of advertising.)
I utilize my blog to convey information on various small business topics. A portion of those articles are born from the research and trial and error done for my own small business. But more I like to share information. I like to help others succeed at whatever they do. That desire to help others is why I focus on business assistance and more particularly back office assistance.
Blogging is a great way for me to share information and also to hone my writing skills. Those who know me will tell you that for years I have talked about writing a book. I do have several started, but always find something to get in the way. 2010 is going to be a year of sound resolutions for me. But one of those resolutions is not likely to be the end of my website. For me, a business that utilizes a blog as their only online interface is missing out of a world of opportunity and lacks a certain amount of credibility. A blog has readers, a website has clients.
I would love to hear your opinions on this topic

A Great Article on Target Marketing October 27, 2009

Say No To More Referrals

By: John Jantsch

About the time I really started to wrap my head around this notion of narrowing your target market focus to a certain type of client and certain type of work I could identify as ideal, a funny thing happened that sealed the deal on this strategy. (The first time you turn down work is a bit scary, but the payoff long term is so worth it.)

I got a call from a prospective client that was ready to hire me based on the advice of a friend of a friend. We chatted briefly and agreed to meet. I was following my lead conversion process so I presented what I knew, asked about his pain, and told him how I worked. He nodded, agreed, and said, “that’s great, but here’s what I really want you to do.” There was a time when I would have said to myself, “OK, I mean, how hard could it be and he said he would pay me, right?” In this case, I said, I may not be the right person for what you need, but I think I know someone who could help you. At first he was caught a bit off guard, but I agree to stay in touch and sent him several contacts I thought could help.

But, here’s where it got good. About a week later I get a call from a colleague of the former prospect who says, “Bill told me about what you do and how he really liked your honest approach and style – I think we should work together.” And then it happened again, and then again. This one “no” turned into three perfect long-term engagements. I took note of the power of saying no the right way, never again attracted the wrong kind of work, and saw referrals go through the roof.

Now, referrals increased in part because of my stick to it, authentic, we can’t help everyone approach, but the real referral momentum came about because of the focus on attracting clients I knew I could be successful helping and knew would value what I had to offer – nailing these two elements will lead to referral business faster than you can ask for it!

Wrap your brain around the exact type of prospect, problem, engagement or solution you know you can deliver to a prospect in need and tell the world yes I can help you if you fit and no I can’t help you if you don’t fit with equal conviction and watch the side buzz from both groups help you grow your business.