Be gentle with me guys: this is my first video blog entry: I will get better and there is some good stuff in this!
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Just a quick heads-up for an excellent new Twitter-related service. Sometimes I write tweets quite late at night and I certainly don’t want them being posted at that time. Cotweet was developed to allow multiple authors to create tweets on a single account but what I use it for is delayed tweeting. Although other services also offer this, Cotweet is the simplest to use: simply tell it when you want your tweet sent and it will do it! Tomorrow morning at 10am? No Problem. Cracking.
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…I wish I knew the answer to that. At the end of the day, the client is the one with the money and they therefore hold the ultimate whip hand. The bigger your reliance on an individual client or a small group, the greater their control over you and a few clients find themselves unable to resist exerting that control. It is only a few I hasten to add, but when it happens it can be devastating.
1: Many small clients > a few big clients
The first step is the business model you operate under. Given the choice I would always choose a business model that involves having lots of small clients over a few big clients. Let’s think about a modest microbusiness with a turnover of £50,000 per year. If that business has two major clients each of whom is therefore worth £25,000 to the bottom line: that’s a LOT of power. If the business has 1,000 clients each of whom brings in £50, then each client has much, much less power. That doesn’t mean that they should be treated with less respect but it does mean that if, for whatever reason, you decide to go your separate ways (or even refund them) it’s not going to bankrupt the company.
What if you’re in a business like the first example? If it were me, I’d move towards the second one bit by bit. [click to continue…]
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My general recommendation is to include your main keywords in your business name (and certainly in your URL) but there are occasions when you might want to break this rule. In that case, you might want an English-sounding name that has no specific meaning. The website Wordoid will generate such names for you and indicate whether the associated URL is free (although currently only for .com and .net domains).
You can also instruct Wordoid to include any words you want (eg “free”) in coming up with its recommendation as in the example screenshot above.
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One of the most often asked questions is “How do I come up with an idea for my small business?”. Bear in mind, from the start, that coming up with an idea is just the first step in a long process – once you have an idea, you need to research it before deciding to base your business on it. Far too many businesses are started up without this level of research and this is one of the main reasons for early business failure.
Here are some of my techniques for idea-generation:
What do you like doing?
A good business is based around your skills and knowledge. If you like doing something, you’ll naturally be better at it and more informed simply because your interest level is that much higher. This is why boys who are completely turned off by school can explain, in great depth, the off-side rule or list their favourite team’s players faultlessly.
Whilst it is possible to force yourself to learn about a subject you’re not naturally interested in, you’re pushing against the grain when you do that. Make a list of the things you like to talk about and do and see if there are any business ideas there. [click to continue…]
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I’ve just been listening to a masterclass (http://www.thesystemseminar.com/masterclass/dm.html) by internet marketers Ken McCarthy, Bob Bly and Drayton Bird ahead of the 2010 System Seminar. In the course of an hour long phone discussion they covered many important points about the art of Copywriting and Direct Marketing in general. [click to continue…]
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If you’re looking for inspiration when it comes to starting and running a business I suggest you download this PDF, flip to a random page, read and consider…
…by some of the most important thinkers both in and out of business.
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Leo Babauta, creator of zenhabits, has written a fantastic book called The Power of Less which I highly recommend to anyone feeling overwhelmed in their working or home lives.
Central to the book is the idea that you reduce stress and increase productivity by consciously identifying and working on your truly essential projects and to discard everything else. We become stressed and overworked by taking on additional tasks without dropping or finishing other tasks to make space for them. [click to continue…]
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Putting a value on your time is essential if you’re to work effectively. Perry Marshall (Adwords Guru) talks about $1,000 per hour work, $100 per hour work and $10 per hour work. For example, pitching to a client, creating a product or making a sale might be worth $1,000 per hour. Ordering stock, checking your online marketing or emailing a client with a progress update might be worth $100 whereas emptying the bin, browsing your emails or investigating that new piece of software might be worth $10. And then, of course, there’s updating Facebook which is probably worth $0 (not that you shouldn’t do it, “all work and no play” and all that).
If you think of it like that, it becomes easy to work out what you should be prioritising. If you find yourself wondering whether you should be doing something, ask yourself how much that activity is actually worth to the business. Eliminate or outsource £0 and £10 jobs so you can concentrate on those that earn money. [click to continue…]
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Welcome to MicroBusinessEntrepreneur. My name’s Kevin Partner and I’m probably best known as a serial entrepreneur and PC Pro Magazine’s Contributing Editor for Online Business.
I’ve been running “micro” (1 or 2 person) businesses for more than a decade and I know what it’s like to be juggling SO many balls. I left a secure job, took a pay cut and have had plenty of ups and downs since 1999 but I would never go back to serve under the corporate yoke.
Join the discussion on Google+ by using the links on the right
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There is a true sense of freedom and independence in being the boss of your own small company(s) and such businesses are the lifeblood of the UK economy (did you know that 75% of all businesses are micro businesses?). There are challenges, problems and bear-traps to be negotiated and this blog is my attempt to help you avoid the pitfalls and make a success of your business.
This blog is about real business life. It is unsanitised, straight from the horse’s mouth and opinionated. Much of what I believe flies in the face of conventional wisdom but it’s born out of experience and from the heart. Make of it what you will.
Get involved by joining us on Google+ or drop me a line through the Contact Us page and I’ll respond as soon as I can.
To your success.
Kevin Partner
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