Eric Tippetts

6 Cost Efficient Marketing Mediums For Your Small Business

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cost efficient

I believe every entrepreneur has dreams and visions of his/her brand or business carrying a 30 second marketing spot during the game of all games… The Super Bowl.

Ahh, it is fun to fantasize but the reality hits us square between the eyes… We don’t have millions of dollars to spend on a short ad and most of us cannot even consider several thousand dollars to run a marketing campaign.

We have to find ways to market our business, our brand and our wares by using effective, cost efficient marketing mediums.

In today’s post, I am going to share 6 cost efficient marketing mediums to help you grow. Use them… They work!

#1 Cost Efficient Marketing Mediums: A Blog

In most cases, you probably already have a website for your business. Adding a blog to that website is a great way to market your expertise and the cost is minimal. Actually, the greatest cost is the time to write posts. But if you do some searching, there are many freelance writers that can provide you with excellent content that is SEO friendly and will help sell your products or services.

#2 Cost Efficient Marketing Mediums: Social Media

Be it simple Tweets, posts on Facebook or Linkedin or images on Instagram, you can draw a lot of attention to your business and brand. And if you want to “up” the attention, you could also pay for advertising on some of those social sites.

Do keep in mind that people are visiting these sites to be social; not to get spammed by salespeople. So be social and share your knowledge.

As people look closer, they will want to be your customer.

#3 Cost Efficient Marketing Mediums: Referral Rewards

Some of the best marketing in the business world is word of mouth. People tend to listen to their friends and family. If someone tells them a business is great, they will go out of their way to shop at that business even if there is a similar business next door.

You can gain more word of mouth advertising just by giving simple rewards for referrals. It could be something as simple as percentage off their next purchase or a free gift.

#4 Cost Efficient Marketing Mediums: Direct Mail

direct mail

While there is some cost involved in direct mail, the Return On Investment (ROI) can be outstanding.

A simple postcard that offers the prospect a special offer if they bring that card in can gain a huge response.

Yes, there will be those who toss it in the trash, but nearly everyone reads their mail before doing so. If you use enticing words with a “sweet” offer, you will discover many people will not toss that card in the trash.

#5 Cost Efficient Marketing Mediums: Videos

Like blogging, videos are another great way to draw attention to your business. Plus, it is essentially free unless you are hiring an outside source to do them. And even doing that can be inexpensive.

Show people your manufacturing process, tell a story why you started the business or just give advice on some area that your product or service solves a problem in.

Videos do work, just be sure and link your website in the video.

#6 Cost Efficient Marketing Mediums: Partnering With Sister Businesses

Just as an example, let’s say you own a dry cleaning business. And 1 block away is a formal clothing store.

It just makes good sense to approach the owner of that business and work out a system where you each refer customers to the other.

You could even display fliers and business cards in each business promoting the other.

This is an excellent free marketing method that works great.

Conclusion

There is not 1 miracle marketing method. It is wise to use multiple methods. So I suggest you use as many of these as possible and any others that you find.

And measure the rate of success. Use what works and discard what doesn’t.

One last thing… Some great marketing methods and mediums do require some investment. If you budget correctly and take some of your profits to put back into marketing, you can drive more revenues.

We developed an app to help you budget your dollars and it will also help you get the biggest deductions in your taxes.

Just click here to see what The Expense Tracker can do for you to help you grow your business.

Thank you for coming by. I hope this post helps you… If you have any questions, just post them below…

Let’s take your business

To The Top!

eric tippets

5 Tips On Finding The Right Business Partner

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finding a business partner

Finding a business partner can equate to a similar level as finding a spouse. You want to make sure that you can work together and have trust.

Just like marriage, too many entrepreneurs just jump into a business relationship with someone else and soon after, it all falls apart and they get a business “divorce.”

I found a great business partner in Steve Jiang when we founded Nasgo. Where I am weak, Steve is strong, and vice versa. And we are watching Nasgo change the world fast in unbelievable ways. You can check out the Nasgo Blog here.

Are you wanting to start a business but need another person to fill in with part of the responsibilities?

Here are 5 tips on finding the right business partner.

Finding The Right Business Partner Tip #1: Consider People You Have Worked With In The Past

The advantage with this is, you know how the person works.

Be it someone you worked with in a traditional job or someone you have done business with, you will have a better idea of their strengths and weaknesses.

You may just want to sit down and make a list of previous co-workers and start contacting them one by one.

Finding The Right Business Partner Tip #2: Ensure He/She Is Reliable

Reliability is a must in a business partnership. I suggest looking at the person’s timeliness. If they are always late to meetings, do you think they will make a reliable business partner?

Do you want a good way to test this?

Just create a simple questionnaire, ask them to fill it out and deliver it to you by a certain time. The first good sign is that they deliver on time or early. But, you should also look to see how precise they answered the questions.

Finding The Right Business Partner Tip #3: Look For A Person Who Compliments Your Skills

It is always wise to seek out a person who… let’s say… opposites attract.

What I mean is, they will have skills you are weak in. Maybe you are strong in marketing but weak in accounting. You may search for a partner who has an accounting degree. Maybe you are an introvert, you should seek an extrovert.

By doing so, you will have a complimentary business leadership system that is bound to succeed.

Finding The Right Business Partner Tip #4: Seek A Partner From A Different Culture

This is Steve and me…

Steve is from a Chinese culture and I am an American. Together, we bring cultures together to get the best from both sides of the world.

Business approach in China is contrastive of systems in the U.S.A. Not much different, but enough that we can learn and grow from each other.

Plus, we bring followers and fans from each zone, helping us create a diversity that is tremendous.

Finding The Right Business Partner Tip #5: Consider Family Members

Now I say this with a word of caution… If a family member is chosen, it should be on merits and not on an “owe it to the family” thought pattern.

But normally, the great thing about having a family member as a business partner is an alignment of values. Because normally similar values are instilled in members of the same family.

Finding The Right Business Partner Conclusion

Using these 5 tips, I know you can find the right partner. But I want to offer 2 more pieces of advice…

  1. No matter who, what or why, draw up a contract and have everything in writing. By doing so, both parties have protection and know where they stand.
  2. Make sure each partner knows his/her role. This is extremely important so that no one is stepping on another person’s toes.

Lastly, I mentioned my partnership with Steve Jiang and the business is blockchain. And if you do not yet have your business on the blockchain, now is the time.

At Nasgo, we are passionate about helping small businesses get on the chain. Come over and visit Nasgo here and see how we can help you.

Nasgo is helping you stay free.

Hope you enjoyed this post… Make sure and share it with others as we help take small businesses…

To The Top!

eric tippets

Build A Solid Brand By Not Making These 6 Mistakes

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build a solid brand

When I say the word brand, what comes to your mind?

It could be a company name, a product or even a person’s name. Many entrepreneurs start by branding their name first before moving into a product or company brand.

No matter what brand you are trying to build, there are certain mistakes you do not want to make. Some of those mistakes can decimate your brand. Other mistakes can cause enough problems that you will have to make some major moves to “fix” what the mistake caused. And other mistakes can come back and “haunt” you after you have built the brand to high recognition.

So instead of learning by experience, why not learn from other entrepreneur’s failures and mistakes?

Don’t make these 6 mistakes and you can build a solid brand.

Build A Solid Brand #1: Not Being Consistent

The whole idea in building a brand is being recognizable from others. Consumers will not remember your brand if you are changing

  • colors
  • fonts
  • logo designs
  • backgrounds
  • and your voice

Keep it consistent and your brand can become a household name.

Build A Solid Brand #2: Not Knowing Your Competitors

While your primary focus should be on the consumer, you DO need to know the competition. There are 2 areas you need to focus on in regards to competitor knowledge:

  1. Doing it better
  2. and even more important, How is your brand different?

Build A Solid Brand #3: Not Having Visual Appeal

visual appeal

Your brand needs to have a visual appeal in that, it attracts members of your target market. Just think of the pink and blue razors… How many men buy the pink ones? Only those guys who were ordered to buy their wife or girlfriend razors!

Visual appeal takes in many factors. Not only coloring, but packaging, shape and even the material can play a huge role in brand awareness.

Many businesses use A/B testing to find the perfect appeal system.

Build A Solid Brand #4: Being A Clone

Let me start off by saying that there are many businesses doing great numbers and they are essentially “clones.” They are “knock offs” of well-known brands.

Maybe there sales are great but what happens when that product is no longer a fad or needed? The known brand will create new products and will be recognized because of their brand, but the clone will have to work twice as hard because no one knows who they are.

Build A Solid Brand #5: Not Enticing A Brand Lifestyle

When you consider major brands, what about them makes you remember them so well?

The most recognized brands have created a complete lifestyle…

  • John Deere makes great tractors, but also has cool hats, toys and much more. Some people have their house decorated in John Deere Green.
  • Coca Cola has the soda people seem to be addicted to. But the Coca Cola lifestyle has given their brand a wholeness.

You can really get your brand recognized by putting your colors and logo on

  • T shirts and other clothing like hats
  • Coffee mugs
  • Artwork
  • Etc…

Build A Solid Brand #6: Not Thinking Before Talking Or Posting

I like to say there is a “fine line” between being true and authentic to potential customers and brand building.

A great example is the recent situation with Papa Johns.

Just because of one “slip of the tongue,” the brand now has the original founder and spokesman abandoned and the brand has taken a strong hit in revenues.

Before you post or speak, consider how it could be perceived. That means looking at all potential perceptions because what you mean may not be perceived that way.

It is usually wise to keep politics and religion opinions to yourself.

Conclusion

If you are currently making any of these brand building mistakes, I suggest you HALT!

There are many other mistakes and I intend to follow up with more in future posts.

In the meantime, I want to say that one huge brand builder is a highly motivated entrepreneur behind the “brand wheel.” So click here and get the free course, 7 Days To Unstoppable Motivation.

That’s it for now as we take your business… Your brand…

To The Top!

6 Tips On Starting A Business With Low Funds

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no money

Can an entrepreneur start a business with low or no funds?

Yes, it can be done. As a matter of fact, there are many successful businesses that were started with virtually nothing.

  • Lynda – It all came when Lynda Weinman was teaching web design. She developed an extensive library of teaching materials and Lynda was born. Seeing the possibilities, Linkedin paid $1.5 Billion to buy Lynda.
  • John Paul DeJoria – This entrepreneur was surviving on odd jobs when he started working in hair care. He met Paul Mitchell and together, they borrowed $700 to start a business called John Paul Mitchell Systems. John Paul was founder and co-founder of other businesses and is now worth over $3 Billion.
  • Kevin Plank – This man was at an edge and took a chance. He had saved $20,000 over the years and maxed out his credit cards to start Under Armour signature clothing. Under Armour is now valued at Billions.

I would go so far to say that when entrepreneurs start a business with little funds, they are more diligent and budget minded.

Here are 6 tips on starting a business with low funds.

Starting A Business With Low Funds #1: Don’t Quit Your Day Job Yet

It will require more hours, but when you are just getting started with your business, it takes time to become profitable enough to pay the bills and put food on the table.

I advise you to keep working your present job and work your business on your off hours. By doing so, you will have that steady flow of cash to help you manage.

Starting A Business With Low Funds #2: Build Your Business Around Your Expertise

When you are starting a business with low funds, it is wise to choose a business system designed around something you are an expert in. Sure, maybe you have an idea for a business that is not in your expert “zone;” you will have another chance to build that, but due to the fact that you have low funding resources, you are best off choosing a business that you know a lot about. This will keep you from spending money on other experts.

Starting A Business With Low Funds #3: Be A One Man/Woman Show

motocross

While I do recommend delegating and outsourcing, there are costs involved with doing so.

When starting a business with low funds, you will be forced to do it yourself… So get ready, set, go:

  • sales
  • accounting
  • manufacturing
  • social media management
  • etc…

Starting A Business With Low Funds #4: Create A Service Intertwined With Your Business To Generate Cash Flow

Let’s be honest here… A product based business will require some capital. But a service does not require that funding.

I suggest you find a way to integrate a service of some type to generate cash that can then be used to make your product become a success.

Just an example… Let’s say you have an idea for a product to lose weight. Before you get that product “rolling,” you could offer weight loss consultation, an eBook or coaching sessions.

All of those do not require capital and the profits can be put back in to get your product out to the public.

Starting A Business With Low Funds #5: You Do Not Need To Look Like A Huge Business To Start

Sure, you probably want a fancy logo; you want to determine if your business should be an LLC, C Corporation, S Corporation, etc…

You want to have a fancy desk and office space…

Yes, you want to be the perfect picture of an entrepreneur with a successful business, but all of that costs time and money.

My advice… Skip all that stuff until profits are rolling in. Just get the business going and deal with the “decorations” at a later time when you have revenues flowing.

Starting A Business With Low Funds #6: Some Low Cost Business Ideas

For the last tip on this post, I am just going to throw out some business ideas that can be started with low funds…

  • Personal Assistant/Concierge Services
  • Online Affiliate Marketing
  • Auto Detailing
  • Interior Design
  • Health And Wellness Coach
  • Freelance Your Skills
  • Bookkeeping
  • Dog Sitting

Just use your creativity and consider the needs of your neighbors.

Conclusion

There are people making huge profits with little or no capital from their own pockets. I have seen entrepreneurs purchase 3, 4 or 5 cases of water for $2.99 and sell each bottle for $1 to thirsty people.

I have witnessed people buying hot dogs and buns on sale and selling them for huge profits to hungry people.

There are ample ways to get started…

Just take a look at my life and how I started my entrepreneur journey. It is in my book, To The Top!

If you have an entrepreneur mindset, you can sell ice water to Eskimos and charcoal to the Devil.

I hope this helps you. If you have any questions, please post them below.

Thank you and have a great day!

eric tippets

8 Tips For Public Speaking

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public speaking

As of late, I have found myself standing on stages in front of many people speaking… Talking about the future of blockchain and how the company I co-founded, Nasgo, will change the world as we know it.

Public speaking is not easy. Some find it quite difficult while others do seem to take to it easier.

No matter which zone you are in, there are certain things about public speaking all of us can do better. I say us because I know I have not perfected it, but with all these talks, I felt I can give you some tips to help you manage public speaking engagements better.

So, here are 8 tips for public speaking.

Public Speaking Tip #1: Do A Practice Run Or 2

Be it your spouse, child, mentor or someone else you trust, it can help immensely just to do a run through of the speech or talk you are giving. Ask the person to be honest and tell you their impression. It is a good way to make small changes that can help keep your audience attentive.

Public Speaking Tip #2: Speak Uncomfortably Slow

Slow it down! I mean, slow it down drastically. It may feel uncomfortable to you but people will be able to understand you if you are speaking slower than you are normally comfortable with.

Public Speaking Tip #3: Grab Their Attention Immediately

When starting a public speech, you will be judged immediately within seconds of stopping. So you have to grab the audience attention immediately.

  • Tell a joke
  • Use a demonstration that impacts
  • Use a story
  • Or even ask your audience a question

Public Speaking Tip #4: Use A Script

script

While you don’t need to read from a script word for word, having a script in front of you will help you keep on track.

Believe me, trying to “wing it” in public speaking is a sure path to a failed talk as well as embarrassing.

Public Speaking Tip #5: Get A Feel For Your Speaking Space

It always helps to get a feel for the speaking location. If possible, I suggest checking it out before the arrival of the audience. Walk the stage or area, check out the microphone and get comfortable with the space you will be using.

This way you know where you can move to without stumbling and the speaking area will not be a surprise.

Public Speaking Tip #6: Focus On What The Audience Wants/Needs To Hear

This essentially comes down to knowing your audience.

Instead of focusing on what you want to say, do an 180 degree turn and instead focus on what you audience will want or need to hear.

This will help you use words and gestures that grab the audience.

Public Speaking Tip #7: Speak To Someone In The Back Of The Room

audience

Find one person in the back row and focus on that person. Talk directly to him/her. By using this system, you will use a strong voice and with your eyes and focus on the back person, your demeanor will give everyone the impression you are focusing on them.

Public Speaking Tip #8: Make Sure The Audience Knows Your Expertise

In most cases, this is done via the announcements before the speaking engagement. But if there may be a question of your credentials make sure and point to them early in the speech.

One of the first questions an audience has is, “What makes this person qualified to talk about this?”

It is important that you gain credibility.

Conclusion

You will be nervous! Just embrace that nervousness and move forward.

Be yourself and if you slip up at some point, just laugh it off and keep going. Don’t allow a slip to throw you in a whirlpool.

I hope these pointers help you. If you have any questions, feel free to ask.

Part of climbing the rungs of success entail public speaking. If you haven’t read it yet, why not come along and see the ride I have taken in my book, To The Top. You can get a copy here.

So get out there and do it…. Climb

To The Top!

eric tippets

4 Tips To Optimize Your Business For Customer Retention

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customer retention

We often hear the word optimize and it most generally is related to websites and blogs. It refers to building your site, or optimizing it, so it sits high in Google and other search engines. The call that SEO.

Well today, let’s talk about BOCR… Business Optimization for Customer Retention.

Because you can optimize your website and get great search results, but if your business is not optimized to retain customers, your system is only running on a half tank.

Think about it… Current and previous customers are the fuel that is keeping your business running. They are the voice that refers and advertises in either a positive or negative way. You MUST keep them satisfied and coming back.

And that can be a hard battle in this era. Because there is always a shiny competitor fighting to win your customers from you. So in today’s post, I am giving you 4 tips to optimize your business for customer retention.

Customer Retention Tip #1: Keep Your Top Asset Happy And Loyal

When you think hard about your business, what is your top asset?

Unless you are a “lone ranger,” you probably have employees or family members working for, and with you.

They ARE your top asset.

Guess what?

Lower prices can help and a great selection does too. But the main reason customers keep coming back is the person that helps them. The person that smiles when chaos is happening all around. That employee who will tell another employee to hold on because he/she is helping you.

Keep your employees happy and loyal and they will retain customers. Don’t believe me? Let an employee move to the competition and watch business slow slightly or even outrageously depending on how loved they were.

Customer Retention Tip #2: Customer Relation Surveys That Are Short And In Prime Locations

I once entered an electronics store looking for an unusual item. Upon asking an employee, with a growling demeanor, he pointed to an aisle in front of me. I searched through a lot of items before finding what I was looking for.

Coming out of the aisle, that same employee was standing at a rack doing what he was doing 20 minutes earlier. He did not ask me if I found the item and not even “have a great day.”

So where does this story lead?

When paying, I asked the person at the register if they had customer surveys (which should have been by the register). She was nice but also seemed nervous as she told me they were hanging on the wall in the back of the store near the restrooms.

So to get a survey, I had to walk all the way back by the restroom and naturally, the growling guy saw me grab one and fill it out. It was long and I actually wondered if anyone would read or heed it.

On my way out, the employee gave me what seemed to be a dirty look.

Needless to say, they did not retain a customer and I have not heard a word about the survey I completed.

I do wonder how business is going for them. I would predict that it isn’t good.

Use those surveys and have them in easy locations. Ask the customer what you can do better. They will tell you.

Customer Retention Tip #3: Give Unexpected Rewards

rewards

While many businesses use loyalty rewards systems; and yes, they are great for customer retention, I suggest using a system that keeps track of how often that customer comes in and throw an unexpected reward their way.

“Guess what Jim? You have been such a great customer, we are going to give you 20% off today’s order.”

Everyone loves unexpected gifts.

Customer Retention Tip #4: Use An Anticipatory Technique

Now with small items, this may not be useful, but for those businesses who are selling “big ticket” products or services, I highly recommend an anticipatory customer service technique.

For this case, I am going to use a lawnmower…

The customer purchases the lawnmower and you make sure that your customer service team is always available and the customer knows this. He buys it Thursday morning. So why not give your customer a call Friday afternoon just to make sure everything is working good. Ask if there are any questions. And remind the customer of the help phone number.

I would say that normally these lawnmowers work great, but you just want to make sure that everything is fine with theirs.

You will gain a ton of respect for using this technique.

Conclusion

For any of you who think you can get new customers as easy as retaining current or previous customers, I must tell you that one study determined that the costs to get new customers is as high as 5 times the cost of retaining customers.

The Harvard School of Business found that if a business can up the retention rate by 5%, they can raise profits by up to 95%.

That is phenomenal!

So follow these tips and practice customer retention… They work!

One last thing before I go… We developed a tool, actually an app, to help keep you within your budget and help you with your taxes. It is called The Expense Tracker and it has helped many people keep their budgets in line. You can see more and get started using The Expense Tracker here.

Last but not least, if you have any questions or feedback about today’s post, you are welcome to leave it in the comment section below.

Thank you and have a profitable climb…

To The Top!

eric tippets

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