An issue facing all small business owners – where to advertise your business

I know that half of advertising doesn’t work, the problem is I don’t know which half - As a small business owner does this quote ( paraphrased) by retailing tycoon John Wanamaker, resonate with you? Do you want to know where to advertise your business? Knowing how, what & who to advertise with was  bad enough when the  options where limited.

where are you going to spend your advertsing dollar

where are you going to place your advertising dollar?

Not so long ago the options were television, newspapers, radio, mail outs, flyer’s, and a small amount of others and now? The internet is fast being a superhighway of advertising. What with Google ads and other pay for click advertising, internet marketers advertising everything including the kitchen sink, our own business website, Facebook ads, Facebook offers (on the way, see below), Twitter ( and soon twitter ads), pinterest,  You Tube ads, and next, you tube ads for small businesses. Don’t forget all those fantastic coupon deals and loyalty schemes our businesses must be  a part of that will drive thousands of buyers to our stores, services or websites…

An issue facing all small business owners – where to advertise your business

Basically the whole web and most social media is becoming advertising driven.  Now I’m not saying that that is wrong, it’s just the way it is. There was always going to be a price to pay for the mega load of information  on the web. Someone, somewhere needs to be paying to support the infrastructure and on going maintenance of websites of, for example, charities and other social causes, craft forums, pet information etc. Facebook is going public, and as such will need to generate a return for it’s investors from what? from businesses advertising on the platform.

What worries me most, as a small business owner is, where do we place our advertising dollar? What is going to give us the most return? Who do we trust [Read more...]

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Is cash flow management a problem? perhaps accepting prepayments could be an option

Is cash flow management a problem for your small business?  Having enough cash to pay suppliers when due is a common issue, especially in times of

a cash flow management a problem

a cash flow management a problem

growth when you could be building up inventories. In her article No substitute for cash in the till, Dianne Buckner shares one company’s success with accepting prepayments as part of their business model and strategy for cash flow management. A problem no more for MacMarr, here’s what they have achieved.

 

 Is cash flow management a problem? perhaps accepting prepayments could be an option

“Guitars are the whole basis of our business,” says Marr. “We can’t have a day when a bill is due from one of our suppliers and say, ‘Sorry, I don’t have the money.’ No guitars means no sales — and that would mean no company, real fast.”

But after a customer offered to pre-pay for his guitar purchase, even though the delivery was months away, Marr found himself thinking “I hope there’s a lot more customers out there who think like that.”

He and MacKenzie promptly put a notice on their website, promoting pre-payment in exchange for free delivery. Normally customers pay $35 for delivery anywhere in Canada. The response to the new offer was so positive, that Marr now estimates 25 per cent of their clientele pay up front. The strategy turned MacKenzie and Marr’s cash-flow problem into a solution. [Read more...]

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