Small Business News: What’s Your Edge? | Small Business Trends

Small Business News: What’s Your Edge? | Small Business Trends

May 14, 2010 By Small Business News

Believe it or not, your small business has an edge. No, you might not be as well-funded, well-connected or even as well-established as the big guys. But something convinced you to go out on your own. Something convinced you that you could compete. You are smaller, more agile, more adaptable than your larger competitors. And maybe more imaginative too. Don’t miss any opportunity to hone that edge. Or any tool that can help you do it.
Referrals

The best way to get new customers. It costs less and yet is probably more reliable than any other method imaginable as a tool to grow your business, especially in the beginning. So why do so few small businesses do it well? In this interview with John Jantch of Duct Tape Marketing we learn more about the technique that, more than anything else, will change the way you do business. The Rise To The Top

Teaching your business to market itself. “If we all know that referrals are the best, most cost-effective marketing strategy, then WHY OH WHY do we continue to leave referrals up to fate or some happy coincidence?” asks Ivana Taylor in the lead of her review of John Jantch’s new book The Referral Engine also discussed in the interview above. Small Business Trends
Startup

Think you can’t start a small business? Read this inspiring interview with Weldon Long and think again. After 20 years, as Long describes, “broke, homeless and drunk” including a 13 year stint in prison, he turned his life around to build an Inc.5000 company with more than $20,000,000 in sales. Entrepreneurship Interviews

From ex-felons to entrepreneurs. Business owner Todd Pemberton has a unique approach to rehabilitation. When ex-cons Pemberton has worked with get out of the clink, they often become small business owners of their own. He’s also hired some paroled ex-felons motivated by a very different kind of investment. Read his story. Inc.com
Social Media

What one tool should your small business consider using today? If asked, Becky McCray would answer social media, adding that, rather than being overwhelmed by the many possible channels out there, small business owners should focus on just one. And that one should be Facebook. Listen to the full podcast discussion. Bigg Success

Want to know the real power of social media to help small business? How about the story of how the 20 something Hampton, Iowa, entrepreneur of a shop known as Orange Possum who won a $5,000 small business grant just because supporters nominated her in an online contest and encouraged others to vote via Facebook. What could you do with social media to boost your small business? Need A Little Advice?
Marketing

Putting your eggs in one basket. In addition to e-mail and traditional marketing, there are many other solutions out there including guerrilla marketing and social media marketing. The success or failure of each will vary with the type of business you run and the market you are trying to reach. So be informed about your decisions. Prisma Graphic Blog

The secret to NoFollow marketing. With increased emphasis on preventing simple link building SEO strategies with use of NoFollow tags on YouTube and other social networks, don’t make the assumption these platforms are now not particularly helpful when planning your online marketing strategy. Business consultant Paul Rudo makes this recommendation when approaching at least one kind of NoFollow marketing. Small Business CEO
Policy

Progress in the movement to set limits on credit card interchange fees? On Thursday, the U.S. Senate passed a bill giving the Federal Reserve the authority to regulate interchange fees. But the bill must be reconciled with proposed legislation in the U.S. House before becoming law. Vantage Viewpoint

Here’s more on the effort to regulate interchange fees. But we wonder if it doesn’t just amount to intrusion into the marketplace to set limits making it a simple form of protectionism.