I recently read an article talking about the current job recovery comparing the jobs that are lost to the jobs that are being regained: the latter being far less financially rewarding than the former. As a result, the general buying power of the American public is decreased, which impacts the prosperity of the American business. Meanwhile, while the mom and pop shops are competing with chains like Wal-Mart and not always able to sustain a low price in comparison.
The aspiring entrepreneur who reads this blog may be torn between the desire to venture out into the business world as an alternative to the lower paying jobs and the overwhelm of running a business that can compete on a significant level. Fortunately, there are tools available to the small business owner from getting the message out to managing communication with your your clients, to helping to keep track of your paperwork. Many of these tools are ones you can operate yourself. For example, the platform on this site for creating a website is as simple to use as Microsoft Office, but provides you many of the tools and functionality a business owner would need to be seen and connect with customers online. In addition to this, you can find many in-person networking events that you can attend at Meetup.com based on either the specific industry you work with. You could take a similar approach on sites like Facebook or LinkedIn (and on the latter, you can even find discussion groups that go into more detail than this blog post here). A couple other networking sites that you might find useful are the Levron B2B Network or The NetWorks, which make it easier for you to reach out to other business owners.
Of course, this only covers the marketing and promotional aspects of running your business, which is by far not the only aspect of running a business. For more suggestions on how to consolidate your business financially or timewise, check out The 4-Hour Work Week by Tim Ferriss. And of course, keep coming back here for more ideas. :-)
Good luck! I believe in you!
Tuesday, August 16, 2011
Monday, July 25, 2011
The Current State of the Economy
It's July 25, 2011. Last month's unemployment rate was 9.2%. As individual and family budgets are shrinking, people are curtailing their spending. Unfortunately, businesses are doing the same thing, because like individuals and families, their budgets are likewise shrinking, and so are their expenditures. There are even calls in the government to cut spending for the exact same reason. Unfortunately, as a result, more layoffs are taking place as businesses find ways to do more with less employees. If, on the other hand, you were one of the ones let go as your employer's business, by economic necessity, became more efficient, you know that just because your employer's need for you went away, your need for your income did not. However, you also know that just because your employer can't use your skills doesn't mean that they don't exist.
Since this is not an isolated phenomenon, we're going to find more and more of these businesses hiring fewer and fewer employees, which will not compensate for the jobs that are lost. Clearly the only way to compensate for this is if new businesses are created, even if that new business starts with one person. If a lot of these skill sets are still useful in the workplace, and people can perform those skill sets as an independent contractor rather than as an employee, that will help to rebound the economy. However, the challenge is that while many of the laid off employees have valuable skill sets, many of those individuals' skill sets do not include MBA caliber marketing expertise.
Of course, if you're reading this blog post, you probably already recognize all of the above. You're just wondering how to tackle the problem of finding the clients that need you (and can afford your services!) The better you can automate tools to help you find customers, whether it be a website, a mailing list, a lead generation system, or even an answering service. Personally, I would start with the website, as it gives your clients a place to come for information about your services, and you can even show what you can do in addition to just telling. And if you can manage your own SEO, you can even be found in Google's search results, which can allow you to be found by those who are searching for what you offer. (Of course, I wouldn't be mentioning this because I offer such a service, would it? No, how preposterous! ;-) )
On the other hand, if you still need to network in person, I'd recommend a book I just recently read called Smart Networking by Liz Lynch. Go ahead, it's okay. If you're a shy person who doesn't like going out into the world to networking events all the time, this book is still - no, it's especially for you! This will help you form a plan to build your network, get more referrals, and get back to doing what you love. Or get started doing something you love!
As I'm writing this, there are thousands of people who are out of work who want to be working. There are thousands more who are working, but who aren't doing what they want to be doing, or they aren't generating as much income as they wish they were. If you're one of those, I hope this helps give you the confidence to move in a new direction and get to the prosperity that is your birthright.
Good luck! I believe in you! :-)
Since this is not an isolated phenomenon, we're going to find more and more of these businesses hiring fewer and fewer employees, which will not compensate for the jobs that are lost. Clearly the only way to compensate for this is if new businesses are created, even if that new business starts with one person. If a lot of these skill sets are still useful in the workplace, and people can perform those skill sets as an independent contractor rather than as an employee, that will help to rebound the economy. However, the challenge is that while many of the laid off employees have valuable skill sets, many of those individuals' skill sets do not include MBA caliber marketing expertise.
Of course, if you're reading this blog post, you probably already recognize all of the above. You're just wondering how to tackle the problem of finding the clients that need you (and can afford your services!) The better you can automate tools to help you find customers, whether it be a website, a mailing list, a lead generation system, or even an answering service. Personally, I would start with the website, as it gives your clients a place to come for information about your services, and you can even show what you can do in addition to just telling. And if you can manage your own SEO, you can even be found in Google's search results, which can allow you to be found by those who are searching for what you offer. (Of course, I wouldn't be mentioning this because I offer such a service, would it? No, how preposterous! ;-) )
On the other hand, if you still need to network in person, I'd recommend a book I just recently read called Smart Networking by Liz Lynch. Go ahead, it's okay. If you're a shy person who doesn't like going out into the world to networking events all the time, this book is still - no, it's especially for you! This will help you form a plan to build your network, get more referrals, and get back to doing what you love. Or get started doing something you love!
As I'm writing this, there are thousands of people who are out of work who want to be working. There are thousands more who are working, but who aren't doing what they want to be doing, or they aren't generating as much income as they wish they were. If you're one of those, I hope this helps give you the confidence to move in a new direction and get to the prosperity that is your birthright.
Good luck! I believe in you! :-)
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