Are You a Small Business Owner or an Entrepreneur?

Dan Kennedy

Dan Kennedy

I’m reading Dan Kennedy’s book, “No B.S. Business Success in the New Economy.” He talks about the difference between small business owners and entrepreneurs. I understand the difference between the corporate world and entrepreneurs, mid-sized businesses and the SOHO market or WAHMs.  But I’m interested in his take on the differences between business owners and entrepreneurs.  There is more of a difference than I had considered and that affects your approach if you are one or the other or you’re marketing to them.  Kennedy says,

The terms “business owner” and “entrepreneur” are commonly used as interchangeable synonyms, but they are different people. A business owner can become an entrepreneur. But they are different people.

The difference, he says is:  “Ordinary business owners think in terms of growing sales and businesses, while the entrepreneur thinks in terms of creating value.

He says the New Economy’s demands favor the entrepreneur more than the business owner.  Customers of the New Economy are in control and they know it and they want to be catered to.  Kennedy says, “The New Economy mandates a much more willing and creative approach to constant change and evolution and recurring reinvention in order to keep a business very specifically and currently relevant to the customers able and willing to support it.

So, are you a business owner or and entrepreneur?  Kennedy lists 4 Distinctions:

  1. The true entrepreneur is not married to a specific business.  Business owners have narrowly defined limits.  Entrepreneurs are more expansive
  2. Entrepreneurs, first and foremost, make their money with innovative ideas.  They are creators or builders much more than managers.
  3. Usually, entrepreneurs are in many businesses, not one, even when it looks like one.
  4. Entrepreneurs develop equity differently.  Business owners are focused on buildings, real estate, inventory, etc.  Entrepreneurs believe the most valuable asset is the customer.

What do you think? Are you a business owner or an entrepreneur?  What can you learn from the other?

I will report on the important challenges and opportunities of the New Economy that he identifies in an upcoming review.  Have you read this book or any other Dan Kennedy books?  Please leave a comment!

Why I Attend Meetups and Why You Should Too

Jason Rubacky Affiliate Summit Meetup Chicago

Jason Rubacky

If you haven’t attended a Meetup, you’re missing an opportunity to learn some things that are important to your career or business, network with like-minded people and have some fun! Meetup.com is where you begin and you can look for a Meetup based on location and/or interest. Many Meetups are free and some have a modest fee to cover food or beverages.  Play around with Meetup.com, you may find some interesting opportunities!

I belong to several Internet Marketing or Web Development Meetup groups. I recently attended 2 Meetups that are part of the Affiliate Summit Conference, one in Chicago where I live and one in Orlando where I was on business.  (Note: Affiliate Summit is moving to Facebook Groups from Meetup)

At the Chicago Affiliate Summit Meetup, I was talking with Jason Rubacky, the Affiliate Development Manager from Shareasale, who told me that he could rank in the Top 10 for any image, usually in the Top 3, within a week or 10 days. That’s powerful stuff! His technique is not that much different than anything an SEO with a little experience doesn’t already know, but what is intriguing is the WHY it works so well for Jason. He thinks many of the leaders in image search rankings are by people who don’t really optimize well – they just sort of lucked into a high ranking.

Affiliate Summit Meetup Chicago #meetmeaffsumI believe it!  And that presents an opportunity for you!

Jason shares his optimizing images technique on the Shareasale Blog, but the highlights are to use an exact match strategy for the “File name,’ “Title,” “Alt Text,” and “Description” of the image.

At the Orlando Meetup, Missy Ward, Michael Nunez and Brett Burky  all made made great presentations.  Missy (@MissyWard) presented “Monetizing Your Blog Using Affiliate Marketing.”

Missy Ward #meetmeaffsum

Missy Ward

Tip #1: Video – Including using TubeMogul for easy distribution and tracking for top social media and video sharing sites.  Also, how to use Google Adwords Video Ads

Tip #2: Email – Use Feedburner email subscription on your blog – it’s free.  Use AWeber (aff link) for subscriber opt-in and sending weekly automated newsletters using a template

Tip #3: Photos – Use plugins to rotate images on your blog

Tip #4: Twitter & Facebook – Build relationships by being relevant and genuine.  Make sure you’re transparent and offer full disclosure.  Use automation plugins and consider Facebook advertising.

Tip #5: Podcasting – Missy recommends that you syndicate podcasts to iTunes and AudiblePodcast.com

Michael Nunez from AffiliateManager.com continued with: Automated Commissionable Links.  Michael introduced his Bouncelinks.com program and using it on blogs, forums and social networks. I was impressed and want to investigate it some more!

Affiliate Summit Picture #meetmeaffsumBrett Burky (@BrettBurky) presented on Leveraging OPA. What if you could legally steal traffic from successful websites? You can do this with making frequent comments on blogs & forums, using trackbacks, guest posting and participating in social media, including Twitter, Fan Pages and LinkedIn Groups.  He shared some of the tools he uses to stay on top: Google Readers, Comment Sniper, Google Alerts and Hootsuite.

So, between the two Meetups, I probably invested 3-4 hours of my time.  What I’ve shared with you in this post is only a small portion of what I learned, not to mention the value of the relationships I’ve made.  Participating in Meetups is an efficient way to learn and network and that all helps build your ROI!

Affiliate Summit Orlando MeetupOne other point: I was talking about Meetups yesterday with someone who had looked at them and dismissed them.  Upon further review, she learned that the organizer of a local Meetup she might be interested in is also the Executive Director of an association she’s interested in!  Talk about multiple opportunities to connect!

Click for more Kurt Scholle photos on Flickr of the Chicago & Orlando Meetups

It was just announced that Affiliate Summit Meetups are moving to Facebook Events.  You can look for Meetups in your area, but to attend one of the dozens of Affiliate Summit Meetups Meetings, you need to find them on Facebook.

#meetmeaffsum

How to Avoid Drowing in a Tsunami of Social Media

My wife once said to me, “I don’t have 2 or 3 hours a day to be on Social Media like you do.” I told her that she really doesn’t know me then. Even with working with several social media clients, I rarely spend that much time online every day. As a followup to my recent posts, Getting Up to Speed With Twitter and How to Manage Information Without Overwhelm, let’s take a broad look at the implementation of a  social media strategy.

For mid-sized companies, social media should be a part of an integrated marketing plan.  It usually needs to co-exist with other tactics and hopefully enhance them.  As you define your broad marketing plan, you choose from a range of activities that meet your objectives, capabilities and budget with respect to your overall target audience and segments.  From there you evaluate each component; yellow pages generating fewer calls, so you cut back or eliminate.  Presenting at an industry conference resulted in a large order from a new customer, so you may decide to return or even participate in more events.

Or maybe having everyone out of the office was problematic and everyone returned from the conference exhausted, leads you to decide that attending conferences is not worth the effort.

It’s the same with social media.  On a broad level, you may conclude that you don’t have the resources to take on additional tactics or you might decide that selected employees have the skill-set or that a consultant or coach can supplement your online activities.

If you choose to do it in-house, or with a coach, you should decide how, when and how often you will participate with each platform.  A daily, weekly and monthly plan can help throttle your investment in time while also providing metrics you’ll use to assess your efforts and revise your strategy.  You can use tools to improve your efficiency, such as Tweetdeck or Hootsuite to schedule posts in advance and to sort the people you follow by objective or niche.  You might choose other submitter to post articles or videos to multiple sites.

Here is a simple social media weekly checklist that I created for a client:

1) Schedule a week of tweets in Tweetdeck to maintain a social media presence throughout the week.  These can include links to blog posts, especially your own, but also to other information that your target audience(s) will appreciate.  I often re-tweet others in advance.  Some people share quotes, but I’m not a huge fan despite liking them sometimes. Some sort of reminders work too.  I would do a few every day and sometimes clump a couple of them together, minutes apart.  Don’t forget to schedule tweets in the middle of the night for the benefit of fans in other parts of the  world!

2) Spend 15-20 minutes 2-3 times per day asking questions of other’s tweets or commenting on them.  (9 am, 1pm and 5-ish work well, but do what works best for you) Ask your own questions, link to and share appropriate information.  Don’t obsess about doing this.  If you miss a little (hey, we all get busy) you have scheduled tweets in advance to maintain a presence.

3) Spend a little time once or twice a day adding information to your Facebook fan page.  Share useful information.  Work a little in groups several times per week.

4) Spend a little time every week staying up-to-date on the latest Twitter and Facebook tactics.

Total time investment: ~ 5 hours per week

If this client had a blog, I would have added doing a post at least 2-3 times per week and a pillar post once a month. (1-3 hours)

If using YouTube or Vimeo, you’ll want to budget and schedule a live video or a Camtasia video using Powerpoint. (Time TBD)

I think you’ll also benefit from scheduling marketing initiatives on a daily, weekly and monthly basis!

As with any business development or marketing initiative, the investment of time, resources and money is a part of the ROI equation.  Increasing revenue and profits is GOOD.  Increasing time and resources can be BAD.

More on using social media to build ROI.

What time-saving social media tactics do you suggest?