Drooling For Dollars

6 Important “Don’ts” for Entrepreneurs during Recession - Be careful!!

Marie Christine — Thu, 27 Aug 2009 04:34:46 +0000

With the recession in full swing, fear and insecurity seems to be growing in everyone. At times, desperation leads to wrong decisions, but we all know that there is no room for mistakes, presently. To fight back the recession companies are making attempts which are damaging their business badly rather than improving their economical stability.

Below I have listed the mistakes to which entrepreneurs can fall victim. Avoid making these mistakes during such challenging times of recession…these tips will surely make your business recession proof.

1) Don’t lose your talented workers to save money:

Every entrepreneur’s top priority is to stay profitable throughout the year. However, during this critical time of recession, profits of every company are dwindling. As a result many executives lay off their best-paid talent, which is really wrong. Let me clarify this misconception that losing your talented employees will make your business recession weak and incapable of competition.

2) Don’t stop utilizing your Entrepreneurial creativity:

Every industry has become highly competitive with numerous people struggling for the same goals. To make our services special and reachable for the customers, we keep coming up with exclusive ideas…out of the box. Sensing the tough times of recession, we stop experimenting and avoid the entrepreneurial creativity. In my opinion, you are not avoiding risk but making your position more risky.

3) Don’t halt your business expansion:

I agree that we need to be more careful with our business decisions to avoid any kind of further crisis but it doesn’t mean that we postpone all our future plans. Nowadays, if business owners struck with any productive idea, they refuse working on it, just to avoid any risk.

4) Don’t cut down advertisement budgets:

Slashing prices is considered to be an immediate way of getting a quick boost in sales. However, we ignore the negative consequences which we can face in the long run. We all believe that advertising brings in the most new customers, so don’t you think we should do more of it during recession rather than cutting down on it.

5) Don’t think low price will bring high demand:

During recession, competition is believed to accelerate as more people start with their own small business. At such times, competition becomes tough for established companies but they avoid being part of the race. I think this step adds a negative side to their

6) Don’t believe the media too much:

As it is said “Too much knowledge can be a curse” I believe in the statement. At times being too updated and well aware of the industry news can be harmful for you. Journalist, politicians and media channels spread the most negativity and pessimism in the nation with the depressing stories about how bad the entire economy is. I would suggest using your analysis and sources. Talk to other people of industry and discuss with them if there is any positive way out.

If we take a composed look at this world wide chaos, recession can be percieved as an opportunity to fix our weaknesses and make the right moves. I am sure, if entreprueners avoid the above listed mistakes, they can take advantage of this time and emerge as a more stronger organization. Best of luck to you all!!

Smart “WHYS” to do Business on Twitter – Top 15 Entrepreneurs on Twitter

Marie Christine — Mon, 17 Aug 2009 05:23:15 +0000

TWITTER…a dangerously spreading craze on net. I know you guys must be thinking this to be another post presenting the super advantages of world famous twitter. Yes, you are right but this post lists some of the unavoidable reasons for solopreneurs to network on twitter.

Being a new-fangled entrepreneur, I am confident that twitter can prove to be a powerful way to grow your business in global market. Being a regular twitter user, I have built a strong social network which is evidently helped me gain potential customers.

Twitter provides many advantages for the entrepreneurs in social networking and here I list few of them.

Using your cell phone, you can stay connected to the twitter world, although if you’re not in office and don’t have your laptop.
The exposure your business gets on twitter is much productive than any other site like Ezine or any other business promotional site.
It allows you to broadcast your sales messages and land new deals.
Twitter allows you to update a large group of people belonging to your industry particularly. You get to tell large group of people about your product, its special features and your business targets.
If you have a seminar, a Webinar, a blog update, or an article that you wrote, it is easy to let your followers know.
It provides you strong web presence and increases your Google-ability. After we all are striving hard for our business to be easily searched on Google.

I think I have said enough about the twitter benefits but surely it will be confusing to find the potential entrepreneurs to follow on twitter. There are tons of SEOs, affiliate marketers, and online gurus available on twitter but only few are worth following. Through various lists I have put together the best entrepreneurs on Twitter.

15 Successful Businessmen on twitter with amazingly large number of followers following them

timoreilly (Followers 933,872)

GuyKawasaki (Followers 161,110)

mcuban (Followers 93,426)

JasonCalacanis (Followers 74,904)

chrispirillo (Followers 73,765)

stanleytang (Followers 56,817)

joshlam (Followers 45,333)

jeffpulver (Followers 32,523)

loic (Followers 29,773)

davemcclure (Followers 21,362)

davesnyder (Followers 17,316)

randfish (Followers 9,226)

JoelDrapper (Followers 8,936)

AJV (Followers 6,646)

r27 (Followers 3,777)

In short, Twitter is a sales tool which can help you flourish in every field conveniently. Being an entrepreneur, I am sure; following these big names on twitter will help your business flourish.

If you are in search of profitable clients or you think yourself to be among these established entrepreneurs, do send in your twitter details.

Do Blogs and Social media promote your business – A time loss or money gain?

Marie Christine — Tue, 28 Jul 2009 12:18:10 +0000

Since last three years, social media networks have hit internet with full force. In today’s world, any type of business can be promoted with social media. Social media is the catch connecting you with other people in your social circle, workplace, community, or field of interest or completely strangers.

Unfortunately, corporate business owners think these blogs and the social media promotion is mere a time waste and can’t bring in any potential clients.

Lately, social media has been blasting off like a rocket ship. Today I want to take few minutes of your time to help you know how social media promotion can do big wonders for your business. First, a few numbers… Technorati Chairman David Sifry says, the search company indexes 112 million blogs, with 120,000 new ones popping up each day. I know many of them are plain and silly…let’s assume that 99.9% are equally off point but still it leaves some 40 blogs that could be talking about your business, engaging your employees, or leaking those merger discussions you thought were hush-hush.

Recently 120 small business owners have been surveyed, proving 55 percent of total business owners believe that online social networking — such as Twitter, LinkedIn and Face book is beneficial to their businesses.

The above given description was for business owners who are not aware of blogs and social media benefits but now comes the companies which are intrigued by the concept of social media, but don’t know how to develop a social network.

Get yourself added on some of the most famous Social Networks…Facebook, Twitter, LinkedIn, Stumble Upon
Create a strong profile with convincing details about your business and all the benefits you offer for your clients.
Search for people in your industry and community and start adding them as friends.
Firstly, try to hear what others have got to say and share.
Try giving suggestions to your friends so you are considered to be an expert.
By the end when you have achieved a strong position, promote your business services or product…your words will be taken as

Just don’t keep on posting about your business product or services….try offering latest information, answers to industry problems, and solutions that you offer.

I am sure if you follow these simple ways of networking to promote your business, soon potential clients will be standing at your doorsteps.

No what do you say guys… Do Blogs and Social media promote your business – A time loss or profit gain?