Archive for the ‘Best Practices’ Category

Should You Ever Work for Free?

Friday, February 3rd, 2012

By Linda Haynes

If you’re an entrepreneur, a freelancer, or a start-up, you’ll know how important it is to win new business and make lasting working relationships. Networking is now as important as advertising in terms of generating ongoing success for any venture. We’ve all had certain jobs or contracts that we feel we’ve not been paid well enough for. Whether that’s a bit of graphic design you felt had a high enough ROI to warrant a higher fee, or simply a contract you feel you could’ve pitched a little higher. But have you ever been asked to work for free? Lots of new businesses and freelancers are now being faced with this very situation. They’re told they’re working to gain experience, that the result will net them future work, that it’ll bolster their portfolios. But are these just excuses for free labor, and should you be more concerned with topping up your company finances?

The question you need to ask when deciding whether to work for free is: ‘what’s in it for me?’. There are exceptions: if it’s for a charitable cause, then by all means do as much work as necessary free of charge. But if it’s for other businesses, you need to ask yourself why you’d want to do it. This will usually boil down to how much experience you have. If it’s literally day one for you, you might want to swallow your pride, knuckle down, and work for the experience. It may well pay off when pitching for future business. On the other hand, if you’ve been working for years, there aren’t many situations where you should work for free (barring charity work, of course). Never take their word for it, always ask yourself whether the work is worth it. Generally speaking, that little voice inside will guide you down the right path.

Linda Haynes is a professional writer and researcher.

Is Niche Blog Marketing a Potential Goldmine?

Friday, January 6th, 2012

By Linda Haynes

Have you ever been browsing the web, perhaps searching for something in particular, and come across a site that seems to be plastered in ads? It likely has the information you’re looking for, but also seems to have caught a bad case of advert measles. That’s what certain members of the SEO community call niche blog marketing – and if you’ve found one, it’s working at earning a passive income for someone. So how does it work?

Well, in a nutshell, a wily online marketer does a bit of keyword research, finds a word or phrase that has high search volume but low competition (much harder than it sounds), then creates a blog based solely on that keyword. It’ll be in the URL, in the titles, dotted around the content. The point is, all of those users searching will eventually land on the page and, if ads are implemented, may click on them. That earns a passive income for the site owner.

But before you go installing Wordpress and writing endless articles about ‘the best golf shop in Everytown’, be aware that niche blog marketing can be a risky business. The Google Adsense program can be a great source of income, but if your site is set up incorrectly, they can suspend your account without warning. Even having an image too close to an ad block is enough to incur their wrath, so if you do embark on a niche blog marketing venture, be very careful. Also keep in mind that this form of income generation is a long term thing. It will take literally months to rank a blog highly enough to generate good quality clicks. But if you follow some marketers advice, the more blogs you have, the better your chances. If you think you’ve got what it takes, head over to the Google Keyword Tool and start mining for keyword gold!

Linda Haynes is a professional writer and researcher.

Performance-Based Marketing Models

Thursday, September 8th, 2011

By Chris Wilkinson

A seismic shift is underway in the advertising world, placing more power in the hands of the advertiser.

In the online/digital realms we see an enormous and unprecedented shift of advertising dollars away from other more traditional media. The incumbent “CPM” model (cost per thousand viewers) is giving way to new performance-based models where compensation to publishers is based on the actual success of the advertising campaign.

Under the old CPM model, the advertiser pays a flat rate for a specific amount of exposure to the consumer. Enter the newer performance-based models which can be more effective and more lucrative for both the advertiser and publisher. Standard performance-based models include:

  • CPA- cost-per-acquisition, publisher takes a percentage of the final sale price or fixed price for each sale which occurs as a result of the ad
  • CPL- cost-per-lead, fixed cost per valid, qualified business lead
  • CPC- cost-per-click, a fixed cost per click, indicating pre-qualified traffic
  • The evolution of performance-based models are forcing publishers in the digital realm to be more selective about their advertisers, resulting in more contextually relevant and appropriate advertising in line with the consumer’s interests.

    These models motivate publishers to see their advertisers as partners with a shared risk and reward for success, and ultimately that is a very positive step forward for the advertising industry.

    Chris Wilkinson is Managing Director of Los Angeles-based Digital Revenue Partners, which specializes in performance-based marketing and sales strategies bridging the traditional and digital media worlds. He may be reached for comment or business inquiries by email (chris@drp-la.com) or phone (323-892-2256).

    Mental Athletes Need Good Nutrition Too

    Wednesday, August 10th, 2011

    By Monika Woolsey

    Mental athletes are my favorites. The designer on a deadline, the creative whose ideas come at 2 am, the entrepreneur dealing with daily cash flow crises.

    Physical athletes understand the nutrition/performance connection. Creatives, not so much. If it meant more time to design, many would ask to live on air…cooking, exercise and sleeping interfere with deadlines!

    Well-fueled brains are a crucial creativity tool. Stable blood sugar levels regulate mood, concentration, and decision making…not to mention impulsivity! Some strategies to prioritize:

    1. Sugar cravings signal that you need to move. Ever had a brilliant idea while running that deposit to the bank? Moving improves brain blood flow and function.

    2. Oils beginning with “s” and “c” (soybean, safflower, sunflower, sesame, corn, cottonseed) interfere with omega-3 function. Stick with olive and canola (one “c” oil that is ok).

    3. Be sure you take enough fish oil, 500 mg DHA per day, about twice the dose the label usually recommends.

    4. Keep protein foods handy (nuts, peanut butter, hard boiled eggs, string cheese, Greek yogurt).

    5. Fast food doesn’t always mean restaurant food! Walk into the grocery store for tuna, an apple, baby carrots, and a mineral water. The Whole Foods deli only uses olive and canola oils; you can eat well there without tedious label reading.

    6. Large amounts of caffeine in the morning inevitably crashes you late afternoon. A favorite non-caffeinated beverage is Solixir’s Awaken.

    Practice these habits. Your productivity and creativity will respond with gratitude.

    Monika M. Woolsey, MS, RD, is registered dietitian and exercise physiologist, and CEO of the inCYST Institute for Hormone Research, a non-profit organization raising money to support research into hormone-related problems such as infertility, insomnia, and premature aging. Check out their upcoming event: http://on.fb.me/o9ClEw.

    Making the Most of Events

    Friday, July 8th, 2011

    By John Diep

    It’s easy to show up to an event, order a drink, and schmooze. But even in a relaxed social setting there just might be a better way of maximizing your time and making things happen.

    Know who’s going to be there. Whether the event has 30, 300, or 3000 people, identify who you want to talk to. Pick the five people you know have something to say to.

    Create an agenda. Enter the room knowing who you’re going to talk to and what you’re going to say. Practice your pitch and then go find the guys you want to connect with.

    Define your metrics for success. If you’ve talked to your hit list and received permission to outreach to them later, you can chalk that up as a pretty good use of time. If you met a few other connections on your way out, it might even be a homerun. What about if you only talk to three of your people? Be precise in knowing what success looks like to you – and don’t stop until you get there.

    For many people, it’s not easy getting out there and rubbing elbows. No worries. The beauty about an event is you know people want to talk and meet, or they wouldn’t be there.

    So let your guard down and start wheeling and dealing. Events, if done right, can really pay off.

    And don’t forget, have fun! Sometimes we all forget that one.

    John Diep is the founder of Schmoozd, StartupToStartup, and StartupDemo.

    To Be Paid or Not To Be Paid – That is the Real Business Question.

    Friday, May 6th, 2011

    By Colleen Rice Nelson

    Being a small business owner I frequently get asked what to do when clients don’t pay me for completed work. There are 3 things you can do to minimize the risk of not getting paid:

    First, any entrepreneur or freelancer who doesn’t take basic small business courses from SBA.org (many for free) or some similar program is asking for trouble. If you pay self-employment tax you are a full-fledged business in the eyes of the IRS – so act like it. Learning about how to set up your business plan will help you get organized; so that non-payment will either not happen or you will have some type of recourse set up in advance.

    Second, get it in writing. If you are a business you need a good contract. You don’t have to spend hundreds of dollars on a lawyer, you just need to make sure that you include all the points about the service, product or work you are providing to your client, and points about situations that may or may not occur.

    Finally, sometimes you need to “Just Say No…” thank you! If you have a gut reaction to a client that doesn’t sit right with you for more than 24 hours, say ‘no thank you,’ and move on. Chances are your gut is right. It’s your business and you can decide who you choose to work with and for.

    The real difference between being a business or not is getting paid for your work. Setting up your business plan, service contracts and trusting your gut can go a long way in being perceived and feeling like a real business person. It doesn’t matter what you do or where you do your work – it just matters if you get paid.

    Colleen Rice Nelson is a self employed business woman who runs a multimedia consulting business,The Ultimate Answer, helping her clients answer their questions about the world wide web.

    Space Matters to Succeed in Business

    Tuesday, February 1st, 2011

    By Ben Gary

    Starting and growing a business is an ambitious endeavor which requires a large amount of business acumen to pull off. There are many pitfalls that even the savviest entrepreneur may fall into without carefully charting the waters before setting sail. According to the Small Business Administration Office of Advocacy seventy percent of new businesses fail within the first ten years.

    The problem of course is that these days are rarely stable. A company now must be nimble and flexible, which is directly at odds with the long term lease commitment, especially for the newer company. And since landlords are in the business of real estate, with few exceptions they almost always hold the advantage in lease negotiations. Here’s how to be successful.

    While the reasons for this high failure rate are varied, the wrong answer to the question of “where do we locate or conduct our business?” is a common mistake many entrepreneurs make when starting and operating a business. The fact that so many things need to be considered in choosing a location combined with so many choices makes the mistake all the more common. Fortunately, a competent real estate advisor can help businesses create and execute a sound real estate strategy capable of creating competitive advantage that will contribute to business success.

    Effective management of operating capital is crucial to any successful business and occupancy cost is typically one of the largest operating expenses businesses incur. In many cases, businesses are operating very inefficiently from an occupancy standpoint. Cornell University’s International Workplace Studies Program conducted a study in 2003 to show that the average vacancy rate for commercial office space from 8 am to 5 pm is between 50% and 70%. That is a lot of money being spent for dedicated work space that is not being occupied by company employees.

    Give your business a better probability of success by recognizing the fact that space matters and turn a potential pitfall into one of your businesses biggest assets!

    Ben Gary is an office services broker for CB Richard Ellis, the world’s largest commercial real estate firm. CB Richard Ellis currently represents 85 of the Fortune 100 companies.

    E-mail him at Ben Gary

    Phone Interviews

    Wednesday, January 26th, 2011

    By Dylan Campbell

    You’ve submitted the resume, or gotten referred by a friend, and now you’ve got an interview… a phone interview. Personally, I hate phone interviews. But, life gets in the way. Schedules get in the way. This is the dawning of the age of phone interviews, Skype Interviews, Web-conferencing, or “anywhere but here” interaction. Here are a few things to keep in mind before you pick up that phone:

    80% Percent:

    Congratulations, you have just lost 80% of your communication skills. It’s not as bad as losing 80% of your vocabulary, but it’s close. 80% of communication is non-verbal. Be Descriptive: Take the extra step. Whenever I ask my single friend how a date went, I get a lame answer: ‘blonde, blue eyes, she’s cool.”

    Orient the Listener:

    Don’t assume the listener (interviewer) knows what your company does, or what you did at your company. Help them out! “So, tell me a little bit about what you’re doing over at your current company?” You could say, “I did sales at a software company.” or…“I’m currently working at a company called (Insert Company Name). We specialize in security software solutions for small and mid-level companies in and around southern California. My role was a sales executive. The first half of my day was prospecting, making cold calls to develop new business. And the second half of my day was spent working on the clients I had, seeing them through to completion, or taking care of their needs. I consistently hit my quota for the last two years I was there, and I’m looking for a great company to be a part of and call home.” I always encourage candidates to think of their answers as an upside-down pyramid. Start big, and go small:

    BIG: COMPANY AND WHAT THEY DO

    MEDIUM: YOUR ROLE

    SMALL: YOUR DAY TO DAY ACTIVITIES THAT MAKE YOU SUCCESSFUL.

    Get Them Talking.

    Have them talk about what they like. Do your research about the company and the person you’ll be talking to on the phone. There’s nothing wrong with saying, “I saw your profile on LinkedIn, you’ve been at the company a long time. The must be doing some good work there. Tell me a little bit about the projects you guys are working on, and what’s next for you as a company.” The person you’re talking to spends more time at work than they do with their family. So, be interested! Let them know what you think they’re doing is great, interesting, etc. Get them to feel like you want to know more.

    A pro-active approach never hurt anyone. Do your homework. Take the time to communicate your company, and your role and responsibility clearly. Talk to the hiring manager about their company and what’s next. These are the little things that will set you apart from the stack of resumes on the desk!

    Dylan Campbell is an executive recruiter based in the city of Los Angeles, CA.

    Bricks and Mortar in the 21st Century

    Friday, November 12th, 2010

    Real property is a static thing. Buildings are not readily replaced. Interiors are expensive to remodel. Ownership and financing are structured over 10 and 20-yr horizons, all of which require long term lease commitments from stable tenants to make it work.

    The problem of course is that these days are rarely stable. A company now must be nimble and flexible, which is directly at odds with the long term lease commitment, especially for the newer company. And since landlords are in the business of real estate, with few exceptions they almost always hold the advantage in lease negotiations. Here’s how to be successful.

    Before you start a search for a new workplace, understand your short and long term strategic business plans cold, especially headcount growth. The size of your workforce over time is the best indicator of your space size and lease period commitment.

    You must also consider the nature of your workforce. The trend today is away from private offices that isolate the individual towards open environments that encourage collaboration. A workplace with many private offices is inflexible and doesn’t easily accommodate headcount growth and contraction. An open plan design with modular furniture is more readily adapted to change. An open plan also allows for greater density. With an understanding of headcount and the nature of your workforce, you can now negotiate a new lease that better reflects your needs.

    Remember, your business strategy and real estate commitment sought by Landlords are traditionally at odds. The search for a new workplace will be a long and trying process unless you understand these divergent needs and negotiate lease terms accordingly.

    By Michael Preiss

    Michael Preiss is a commercial real estate agent with 20 years experience representing commercial tenants and landlords

    SO…WHAT DO YOU DO?

    Tuesday, March 16th, 2010

    If that question—”What do you do?”—sends you into a remarkably accurate impersonation of a deer in headlights, you’re not alone. Here are a few ideas for creating a perfect pitch, whether it’s for you, your project or a business.

    INVESTIGATE what is of value to your existing and past clients by asking yourself the following:

    How would you describe the benefits of working with you?
    What is your favorite problem to solve?
    Who is your ideal client?
    The idea is to find out why you are particularly good at what you do or how your business works.

    PAN FOR GOLD. Now that you’ve collected your research, go back through and find out what stands out. What words, ideas or even feelings repeat? You’re now identifying your core message. If you get stuck, go through your feedback from clients or testimonials.

    LEAD with the benefits. “I [solve x problem] for people who [y]” instead of, “I design x for y or z.” A good pitch makes it easy for your ideal client to know you are right for them and for the folks who aren’t your potential clients to refer clients to you.

    FOLLOW these real-life examples, drawn from people I’ve worked with:
    BEFORE: I’m an interior decorator for architects.
    AFTER: My passion is creating elegant, functional design for architects within budget and ahead of deadline.
    BEFORE: I make it affordable to look good by building client’s identity from the ground up.
    AFTER: My passion is helping small businesses look good, because their success is built on more than a logo!

    CONGRATS! You have investigated, that means that you are telling the truth, so you won’t be bragging. Because you’ve looked for gold, you’ve identified the images and themes that are “sticky” and fun for you, and will be interesting to others. Since you lead with the benefits, you have succeeded in making your pitch all about THEM, not you. You got feedback, so you know you are telling a compelling story, people LOVE stories. Way to go. Now, get pitching!

    Dyana Valentine looks closely at and works intensely with clients who are truly ready to make their projects happen and their businesses grow. Learn more about her and how she can help you get your PitchPerfect! on dyanavalentine.com.