March 13th, 2010 Archive

It All Counts

March 13th, 2010 by Liz in Financial Freedom

This year, 2010, is predicted to be one of recovery. With positive and hopeful news popping up from all corners every once in a while, and with plenty of experts such as John and Jane Doe pitching in their two cents’ worth and professing their supposed money-making

secrets, it’s hard not to get into the hype of things. After all, who doesn’t want good news and free advice, right? <g>

You just have to wonder though, if all’s well, then how come we haven’t seen any major improvements lately? Why are there closures and unemployment rates still being reported? We all know it will take a while before we recover completely, but during uncertain times such as now, who do we believe?

Well, it just so happens that Al Jacobs , a columnist and author of Nobody’s Fool: A Skeptics Guide to Prosperity with four decades’ experience in the investment business, shared a few tips with us in his Small Business CEO Magazine article Four Reasons to be Skeptical of Economic Pronouncements.


Grain of Salt

My husband Ric and I are supporters and promoters of trust; positivism; using your inner strengths and harnessing your true potential to reach your goals; attracting and working for the life you want and the like. We reach and counsel people through our various online marketing businesses such as Small Business CEO Magazine, HealthyWealthynWise, The Transperience Network, Internet Marketing TNT Magazine and others. However, even we have to admit that there’s something to be said for being careful and playing the skeptic every once in a while.

According to Al Jacobs, here are four types of people we shouldn’t believe right away when they give their economic predictions or pronouncements. In other words, always take their advice with a grain of salt.

Career Prognosticators
To keep things simple, I’ll call them theorists. <g> They are the scholars, academics, economists and proclaimed authorities who have studied the rules, beliefs and teachings of economics, but have never really applied these lessons to their own lives, put up their own businesses or invested their money in any risky venture. Sure, they may know the industry wholly on paper, but they don’t know how it really works from the inside where you’re taken through the loops of investments and profits.

I firmly believe in experience being the best teacher. So, if they haven’t gotten their hands dirty, so to speak, how would we be able to fully rely on their wisdom?    

Those with a Vested Interest
Vested interest, quite intriguing, isn’t it? <g> In reality, who doesn’t commit this every once in a while? Of course I’ll say the online marketing business is booming now more than ever, mostly because I’m in it and also because, in my case, it is utterly true. <g> But for some, they would say that their business is doing fantastic, just because they want people to invest somewhat blindly with them in order to turn profit.

I don’t condone those who lie or say what people want to hear just so they could make a few quick bucks though. I believe that if you have a vested interest in something, you should work with people to improve on it and to make sure that your interest is indeed protected.     

Media Representatives
Need I say more? <g> Like the career prognosticators, they may or may not have actual experience with putting up and running their own businesses. However, they have the smarts and the talents to keep up with the goings on around them – mostly since they were trained to do just that.

Media people always put their own spin on things, and they could expand and expound until their faces turn blue, as long as they’re getting their required sound byte, audio clip or newspaper space out there. Since they also receive their information from third-party resources, it’s not assured that their understanding of the situation or topic is a hundred percent. Being good at what they do however, could help them become believable experts. I applaud the few, however, who manage to give honor and integrity to this noble profession.

Knowledgeable Participants


These are the real McCoy’s. Since they’ve actually dug, fought and won in the business trenches, they are qualified opinion makers and possible experts. However, since they’ve been through business ups and downs, they are very careful on what to say or share. They wouldn’t want their competitors to know their success secrets. Those who’ve done shady deals and things, however, do not want their dirty laundry to be aired in public either.

Finally we have experienced people we could tap for useful information, but who could blame most of them if they want their closely guarded processes, well, guarded. <g>


Follow Through

No matter who you seek advice from and chose to believe though, it’s still up to you to devise a plan on how to get return on investment (ROI) for your business – big or small. A shoddy marketing plan can break your business and set you back a ways if you’re not conscientious enough. Carl Roughsedge, a director of a global firm that supplies marketing and design to businesses with two decades’ experience in marketing, gives us three tips on how to guarantee ROI in marketing in his Small Business CEO Magazine article Getting Return on Your Investment for Marketing.

Research


Before you dive into anything, especially a business, it helps to be aware of what you’re getting yourself into – what you have to deal with and how to go about dealing with them.

When planning any marketing strategy, you must first determine the audience you’d like your business or product to attract. Find a need that you want to and can actually provide, while factoring in the demographics – location, spending power, sex, age and social class – of your intended clients in reference to your business type & size. Search for the best way to approach your target audience.

Trust me, you wouldn’t want to spend precious time and money in marketing, only to find out in the end that you’re advertising to the wrong crowd. Much like hopping on the subway, only to realize at the end of the route that you were actually going the wrong way. <g>

Find Your Niche


As I’ve always stressed in my posts, make sure that when you put up a business or sell a product that you’re actually filling a market need.
Since just about everything imaginable has already been thought of and is either in distribution, production or planning already, you have to find what’s special and different about your product or service. Hone in on your unique selling proposition (USP) and find your niche. Create or form the right marketing message for your service or product. When you can set yourself apart from your competition, then you have the advantage. Wouldn’t it be nice to stand out from a group of drones and carbon copies? <g>

Right Creative Execution

This, my friends, is the end game. <g> No matter how well you know your audience, carefully plan your marketing strategy, formulate your marketing message and hope to establish your product from the rest, it will all fall flat if you fail at the creative execution.

The way to the end is as important as your means. How you get somewhere is as important as your destination. Always make it a point to spend whatever time and money you need in order to execute your strategies without a hitch. It always pays to present something professional, persuasive, convincing and well thought off to your audience. How will they trust your product or service if you can’t present it to them properly? It’s not easy, but sometimes, it’s all about the presentation. After all, how many first impressions can you get? <g>      

Do you have economic predictions or marketing tips you would like to share with us? Let us know through the comments section below.

Happy strategizing!
Liz