Using Local Internet Resources For Small Business Success

During economic uncertainty, you can successfully open a small business. Don’t ask other business owners for financing – that’s the job of your accountant. Instead, consider and develop your online marketing strategy, while small. Start small, expand slowly and always be working on your techniques.

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Using Local Internet Resources For Small Business Success

During economic uncertainty, you can successfully open a small business. Don’t ask other business owners for financing – that’s the job of your accountant. Instead, consider and develop your online marketing strategy, while small. Start small, expand slowly and always be working on your techniques.

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The recent Small Business Administration (SBA) Pandemic Preparation Guidebook was released in May 2009. The book discusses various business operations including Internet business operations, small business start ups, and more. ” Pandemic preparedness is important for small businesses before the onset of any outbreak,” said Mike Webster, director of communications for SBA. “E-mini-crises” are “a sudden outbreak of unexpected financial problems, which threaten to weaken or cripple an entire industry.” Webster further explained, “E-mini- Crises typically hit markets at an inflection point between seasonal strengths and weakness. Preparing companies for these financial challenges early reduces vulnerability and ensures businesses can weather these periods of sustained downturn or recovery more easily.”

There are various Pandemic techniques which can be used by small or mid-size businesses to survive and thrive during economic uncertainty. One way is to use customer-base management techniques to keep customers coming back. According to Webster, “customer base [is] the number of people who regularly buy a product or service from a company. If a company has a large customer base, it has a leg up on smaller competitors because it can offer lower prices or discounts to attract and retain customers. A smaller business cannot afford to rely on customer base alone.”

Small business marketing techniques, such as advertising on online websites and through social media, has also been discussed in the Pandemic preparation guide. According to the article, “An online advertisement that get less than five percent of one’s site’s visitors, but has a high conversion rate, are an effective tool in a slow economy. Small businesses may choose to target older, more common keywords or ones that require a higher level of search engine optimization (SEO) to be effective.”

As the article goes on to mention, this recession-proof planning falls under the heading of the small business administration’s specialty. According to the SCORE website, “the mission of the SCORE organization is to advance the prosperity and security of America’s small businesses through research, education, and providing leadership, market development, policy analysis and management solutions.” In order to prepare businesses for these uncertain times, many have turned to the SCORE website to understand how they can access these services at no cost. The website also explains that many SCORE members have developed products for use in preparing businesses for these difficult times.

Many businesses struggle to compete in today’s market because they are overburdened with debt. Debt, according to the SCORE website, “causes a small business to miss opportunities, reduce profits, and sometimes force closures.” Because these businesses are “not running at break-neck speed,” the small business administration recommends investing in these businesses by providing expert advice. For instance, if a small business owner wants to buy a new machine that is vital to the success of the operation, but the price is thousands of dollars high, the small business administration will provide information on ways to lower the price while still maintaining quality. This advice and assistance could help keep many small businesses running smoothly.

With social media becoming so popular, many small business owners are using it as a marketing tool. In doing so, however, they could lose their customers. The SCORE website offers resources for businesses on how to advertise using social media. The website also discusses the risks when it comes to marketing on social media. Although the website cautions against using all social media outlets, it also emphasizes the importance of including all avenues when advertising.

One resource offered by the small business administration is a guidebook on online marketing. The SCORE Guidebook contains tips on everything from choosing an online domain name to maintaining an online presence. It also includes tips on how to use social media to advertise. Businesses can use the guidebook for reference, but it is more of a generic online marketing guide rather than one tailored to local government. For instance, it does not mention auction sites or mobile applications. Local online marketing would require these types of resources.

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