smallbusinessroundtable-blog

[smallbusinessroundtable-blog]

4 Major Challenges Facing Local Business Owners

Expert Author Jeff Schuman

The American dream for some people is to own their own small business. However this dream can turn into a nightmare because of challenges many local business owner face.

Let's talk about 4 challenges you are going to face if you have your own local business or are considering starting one.

1. Undercapitalization. Many small business owners miss calculate the amount of money they need to start or run their business. This is understandable because many of these people have not run a business in the past.

One way to view this is to look at your anticipated first year revenues and your first year expenses and that is the amount of capital you will need to operate. Being undercapitalized is the number one reason that small businesses fall into bankruptcy.

2. E-Myth. The entrepreneurial myth is based on the fact that a person who has a technical background in their field thinks it qualifies them to start and run their own business.

You see this all the time in trade businesses. For example an air-conditioning installer is very good at what he does so he decides to start his own business. He quickly finds out that running a business is much more complicated than he might have thought it was. This is another reason many business startups fail. Not only does it take adequate capital, but it also takes expertise in running a business.

3. Marketing. Today this means using the Internet to market local businesses. Established small business owners as well as new ones are having trouble with this fact.

In the past it was much easier to put together an advertising campaign based on Yellow Pages, direct mail, and local newspaper advertising. Some larger businesses might also use radio or television.

Today the way people find businesses is totally different than it was just a few years ago. As a local business owner you need to be found on the Internet where people are searching for keyword phrases relating to the theme of your business.

The only way to do this is to use search engine optimization for general keyword phrases and incorporate local business words into them. For example, if you go are a carpet cleaner in Denver, Colorado you want to rank for as many keyword phrases as possible such as Denver carpet cleaner, clean my carpet in Denver, and so on.

4. Who Is The Boss? Small business owners work long hours and many times feel like their customers are their bosses. Unless you become adept at controlling your schedule, and managing employees, you can find yourself quickly burning out on the American dream of owning your own local small business.

These are four of the major challenges facing local business owners in today's competitive marketplace. These are things to be aware of and work at improving if you expect your business to survive!

If you enjoyed this article by Jeff Schuman on challenges small businesses face please visit our local business website today. Learn how you can use local business marketing to rank highly on search engines and get more traffic to your small business website.

Article Source: http://EzineArticles.com/expert/Jeff_Schuman/12221 0 Comments | Leave a Comment 4 Major Challenges Facing Local Business OwnersExpert Author Jeff SchumanThe American dream for some people is to own their own small business. However this dream can turn into a nightmare because of challenges many local business owner face.Let's talk about 4 challenges you are going to face if you have your own local business or are considering starting one.1. Undercapitalization. Many small business owners miss calculate the amount of money they need to start or run their business. This is understandable because many of these people have not run a business in the past.One way to view this is to look at your anticipated first year revenues and your first year expenses and that is the amount of capital you will need to operate. Being undercapitalized is the number one reason that small businesses fall into bankruptcy.2. E-Myth. The entrepreneurial myth is based on the fact that a person who has a technical background in their field thinks it qualifies them to start and run their own business.You see this all the time in trade businesses. For example an air-conditioning installer is very good at what he does so he decides to start his own business. He quickly finds out that running a business is much more complicated than he might have thought it was. This is another reason many business startups fail. Not only does it take adequate capital, but it also takes expertise in running a business.3. Marketing. Today this means using the Internet to market local businesses. Established small business owners as well as new ones are having trouble with this fact.In the past it was much easier to put together an advertising campaign based on Yellow Pages, direct mail, and local newspaper advertising. Some larger businesses might also use radio or television.Today the way people find businesses is totally different than it was just a few years ago. As a local business owner you need to be found on the Internet where people are searching for keyword phrases relating to the theme of your business.The only way to do this is to use search engine optimization for general keyword phrases and incorporate local business words into them. For example, if you go are a carpet cleaner in Denver, Colorado you want to rank for as many keyword phrases as possible such as Denver carpet cleaner, clean my carpet in Denver, and so on.4. Who Is The Boss? Small business owners work long hours and many times feel like their customers are their bosses. Unless you become adept at controlling your schedule, and managing employees, you can find yourself quickly burning out on the American dream of owning your own local small business.These are four of the major challenges facing local business owners in today's competitive marketplace. These are things to be aware of and work at improving if you expect your business to survive!If you enjoyed this article by Jeff Schuman on challenges small businesses face please visit our local business website today. Learn how you can use local business marketing to rank highly on search engines and get more traffic to your small business website.Article Source: http://EzineArticles.com/expert/Jeff_Schuman/12221 0 Comments | Leave a Comment

[smallbusinessroundtable-blog]

Local Businesses: Why It Is Imperative To Implement Local Search Engine Marketing StrategiesLocal Businesses: Why It Is Imperative To Implement Local Search Engine Marketing Strategies

By Rasheed B  |   Submitted On March 18, 2011 Recommend Article Article Comments Print Article Share this article on Facebook Share this article on Twitter Share this article on Google+ Share this article on Linkedin Share this article on StumbleUpon Share this article on Delicious Share this article on Digg Share this article on Reddit Share this article on Pinterest Expert Author Rasheed B

Local business owner that neglect to implement Internet marketing strategies are missing out on mines full of gold

Being a home-based business owner, I am aware of the many challenges one could face while operating a local business. Today's prevailing changes to the marketplace is a major challenge, but let's not forget political factors such as wage rates and possible union issues. Under-capitalization is another huge challenge that haunts so many well-meaning entrepreneurs. So how is implementing an Internet marketing strategy going to overcome these challenges?

The Internet has become a majorly useful tool to have in the business toolbox. While it may not be able to ward of the government and their regulations, it does work magic for creating buzz, building brand loyalty and generating new business & referrals.

I cannot speak for you, but when I think about my friends, co-worker and even myself, we turn to the Internet (Google, Bing, Yahoo, etc) when we are looking for a solution. This can be any kind of solution for example, "Oh my stomach is growling & I don't feel like cooking. What's around here to eat or order in?" or "My back is really soar from that car accident the other day. I need to find a chiropractor and perhaps a lawyer while I am at it!". Let's take a look at some facts taken from: comScore, Google, Kesley and the NPD Group:

• 97% of American Internet users use the Internet to shop of which 57% characterize their behavior as "shop online, purchase offline." • 90% of online commercial searches result in offline bricks and mortar purchases • 82% of local searchers follow-up offline via an in-store visit, phone call or purchase • 74% of Internet users perform local searches • 73% of online activity is related to local content • 66% of Americans use online local search to locate local businesses • 61% of local searches result in purchases • 54% of Americans have substituted the Internet and local search for phone books • 35% of all searches are local • For every $1U.S. consumers spend online, another $5-$6 are going to offline purchases that are influenced by online research • What's most impressive to me is that 90% of online commercial searches results in local offline purchases.

Ok, so with so many local search statistics, what does this mean for your local business?

All those statistics mean is that finding businesses locally is becoming an Internet driven task. Thanks to local search tools and mobile devices such as Smartphone's & iPad's; real local businesses are increasingly visible to local consumers online.

As a result, the Internet continues to provide e-commerce but is now driving local sales as well. And as consumers continue to move online and become connected by mobile, their reliance on online tools to perform searches for local information, local businesses, and everything else local, will only continue to grow. This is why a local business owner can be missing out on Archers of Diamonds without a well thought out Internet marketing strategy. Let me make it clear.

61% of Local Internet Searches Result In A Local Purchase

When you think about it, a high local search conversion rate makes perfect sense. Most people are not going to look for a local restaurant, lawyer, dentist, yoga studio, plumber, accountant, or any other local business for that matter, unless they plan on using it. When people search for a local seller, they are more than likely motivated to buy.

Shopping Around On The Internet

Think of local Internet searching as the new way that consumers "shop around". Instead of driving from business to business in search of the best value; they turn to the Internet to seek the same value before making a purchase often getting a referral from an online friend.

Now let's take a look at Google and even Facebook. Did you know Facebook is the second ranked website for the most daily traffic only behind Google? And that they also have their own search function and advertising?

Go to Google and Facebook if you have an account. Now in Google search using a phrase that people looking for your product or service would type in. In Facebook, search for your company's name. Are any of the top search results your business or links back to your business? What is listed, is it showing off your business in glory or is it painting a dark cloud? Local search engine optimization for a local business is a huge positive for the bottom line.

If you have not realized yet, most of the Internet is free to use; Google, Facebook, Twitter, YouTube, LinkedIn, etc are all free to use for the most part. This along can save thousands of dollars on advertising expenses while building long-term leverage.

The Bottom Line

The marketplace is experiencing significant changes and local search is here to stay. While it is still in it's infancy, if the local search marketing is embraced, it can significantly fuel the growth of your local business. It can open the doors to every customer located within the area you service at little or no cost. The possibilities are endless. If you offer products and/or services that can be delivered in digital format or shipped; an e-commerce website can act as a 24/7/365 store-front that is ALWAYS open to take your customers' payment.

Tip Of The Iceberg

What I have just shared with you is just a glimpse into the power of the Internet. It's a value tool that is at your local business' disposal. Having the awareness of it's potential, you are now faced with a few options as to what to do next:

Do Nothing: Just keep doing what you've been doing thinking that you don't have time for his stuff while you let you competitors take business from you. Yes, you may have a website already but it is like a billboard next to an abandoned road. Remember this:

"If you keep doing what you've done, you'll keep getting what you get"

Do It Yourself: Spend hours and hours trying to figure this stuff out on your own through trial and error. While getting confused with keyword research and not communicating properly in the social arena, you also manage to wasting money messing up the ad campaigns. In the end, you cross your fingers hoping all of your hard work will pay off.

Hire A Large SEO Company: Great idea if you have the ad budget of large fortune 500 companies.

Free 15 Consultation with Bolade Marketing: Introduce me to your business and share your goals to assist me in providing my insight as to what can be done when implementing an online marketing strategy for your local business. Get start with your business' local search marketing consultation [http://bolademarketing.com/about/contact] & claim your Google Places [http://www.bolademarketing.com/?p=127] business listing.

Consumers are making buy decisions based on word of mouth more now than ever, The Internet is word of mouth marketing on steroids. Don't get left behind and request you local business consultation today.

Article Source: http://EzineArticles.com/expert/Rasheed_B/206509 Local Businesses: Why It Is Imperative To Implement Local Search Engine Marketing StrategiesBy Rasheed B  |   Submitted On March 18, 2011 Expert Author Rasheed B believes that Local business owner that neglect to implement Internet marketing strategies are missing out on mines full of gold Being a home-based business owner, I am aware of the many challenges one could face while operating a local business. Today's prevailing changes to the marketplace is a major challenge, but let's not forget political factors such as wage rates and possible union issues. Under-capitalization is another huge challenge that haunts so many well-meaning entrepreneurs. So how is implementing an Internet marketing strategy going to overcome these challenges?The Internet has become a majorly useful tool to have in the business toolbox. While it may not be able to ward of the government and their regulations, it does work magic for creating buzz, building brand loyalty and generating new business & referrals.I cannot speak for you, but when I think about my friends, co-worker and even myself, we turn to the Internet (Google, Bing, Yahoo, etc) when we are looking for a solution. This can be any kind of solution for example, "Oh my stomach is growling & I don't feel like cooking. What's around here to eat or order in?" or "My back is really soar from that car accident the other day. I need to find a chiropractor and perhaps a lawyer while I am at it!". Let's take a look at some facts taken from: comScore, Google, Kesley and the NPD Group:• 97% of American Internet users use the Internet to shop of which 57% characterize their behavior as "shop online, purchase offline." • 90% of online commercial searches result in offline bricks and mortar purchases • 82% of local searchers follow-up offline via an in-store visit, phone call or purchase • 74% of Internet users perform local searches • 73% of online activity is related to local content • 66% of Americans use online local search to locate local businesses • 61% of local searches result in purchases • 54% of Americans have substituted the Internet and local search for phone books • 35% of all searches are local • For every $1U.S. consumers spend online, another $5-$6 are going to offline purchases that are influenced by online research • What's most impressive to me is that 90% of online commercial searches results in local offline purchases.Ok, so with so many local search statistics, what does this mean for your local business?All those statistics mean is that finding businesses locally is becoming an Internet driven task. Thanks to local search tools and mobile devices such as Smartphone's & iPad's; real local businesses are increasingly visible to local consumers online.As a result, the Internet continues to provide e-commerce but is now driving local sales as well. And as consumers continue to move online and become connected by mobile, their reliance on online tools to perform searches for local information, local businesses, and everything else local, will only continue to grow. This is why a local business owner can be missing out on Archers of Diamonds without a well thought out Internet marketing strategy. Let me make it clear.61% of Local Internet Searches Result In A Local PurchaseWhen you think about it, a high local search conversion rate makes perfect sense. Most people are not going to look for a local restaurant, lawyer, dentist, yoga studio, plumber, accountant, or any other local business for that matter, unless they plan on using it. When people search for a local seller, they are more than likely motivated to buy.Shopping Around On The InternetThink of local Internet searching as the new way that consumers "shop around". Instead of driving from business to business in search of the best value; they turn to the Internet to seek the same value before making a purchase often getting a referral from an online friend.Now let's take a look at Google and even Facebook. Did you know Facebook is the second ranked website for the most daily traffic only behind Google? And that they also have their own search function and advertising?Go to Google and Facebook if you have an account. Now in Google search using a phrase that people looking for your product or service would type in. In Facebook, search for your company's name. Are any of the top search results your business or links back to your business? What is listed, is it showing off your business in glory or is it painting a dark cloud? Local search engine optimization for a local business is a huge positive for the bottom line.If you have not realized yet, most of the Internet is free to use; Google, Facebook, Twitter, YouTube, LinkedIn, etc are all free to use for the most part. This along can save thousands of dollars on advertising expenses while building long-term leverage.The Bottom LineThe marketplace is experiencing significant changes and local search is here to stay. While it is still in it's infancy, if the local search marketing is embraced, it can significantly fuel the growth of your local business. It can open the doors to every customer located within the area you service at little or no cost. The possibilities are endless. If you offer products and/or services that can be delivered in digital format or shipped; an e-commerce website can act as a 24/7/365 store-front that is ALWAYS open to take your customers' payment.Tip Of The IcebergWhat I have just shared with you is just a glimpse into the power of the Internet. It's a value tool that is at your local business' disposal. Having the awareness of it's potential, you are now faced with a few options as to what to do next:Do Nothing: Just keep doing what you've been doing thinking that you don't have time for his stuff while you let you competitors take business from you. Yes, you may have a website already but it is like a billboard next to an abandoned road. Remember this:"If you keep doing what you've done, you'll keep getting what you get"Do It Yourself: Spend hours and hours trying to figure this stuff out on your own through trial and error. While getting confused with keyword research and not communicating properly in the social arena, you also manage to wasting money messing up the ad campaigns. In the end, you cross your fingers hoping all of your hard work will pay off.Hire A Large SEO Company: Great idea if you have the ad budget of large fortune 500 companies.Free 15 Consultation with Bolade Marketing: Introduce me to your business and share your goals to assist me in providing my insight as to what can be done when implementing an online marketing strategy for your local business. Get start with your business' local search marketing consultation [http://bolademarketing.com/about/contact] & claim your Google Places [http://www.bolademarketing.com/?p=127] business listing.Consumers are making buy decisions based on word of mouth more now than ever, The Internet is word of mouth marketing on steroids. Don't get left behind and request you local business consultation today.Article Source: http://EzineArticles.com/expert/Rasheed_B/206509