6 Absolute Don’ts When Building Your Brand Online

These days, if you want to be taken seriously in your business, you must find a way to brand it online. Your online presence is so very important that you can not afford to make avoidable mistakes. Here are some vital things which if not done correctly can hamper your business success.

01. Failing to choose a unique brand name. The uniqueness is very important here because your business will be competing with thousands or even hundreds of thousands of other businesses online. It pays to do a thorough market research online to find a brand name that is trendy and unique which will help push your business smoothly online. Check and be sure that a suitable .com domain is available for the unique name you have chosen before you decide. You can not afford to be too careful here.

02. Failing to Google your brand. You can not afford to ignore Google search engine which currently accounts for around 60% of all search results. You can Google your brand name often to see how the results pan out. It is now common knowledge that a majority of people use Google as their primary search engine. People will find your business by simply typing in your brand name then wait for the search results to get information about your business. Your unique brand name will help to get your business on top of the highest search result hits. That way, you could manage to be one step ahead your competitors in search results.

03. Failing to mention what you do. Online surfers always have very limited time to read things through. Be sure that the business you are putting out there tells everyone what you do at a quick glance. It is reckless to assume that everyone knows what your company does, especially if you have a unique name that doesn't explicitly describe the trade or nature of the business. It is important that you let your Website visitors know what it is that you can do for them and how you are different from others. It helps to proudly let people know what makes your business stand out from other similar businesses and how that can benefit them.

04. Failing to back up your data. It is very surprising that in this age and time, many business owners still neglect or fail totally to back up their data online. Apart from losing access to your domain for very many reasons, your files could be corrupted by viruses making them unreadable and or inaccessible. That can cause your business a very huge embarrassment and loss of patronage. Backing up your data online is a very smart thing to do and expert advice helps out there.

05. Failing to go social. Because of the extreme popularity of social media sites, getting your business out in them can help it go viral within a very short while. Sites like LinkedIn, Google+, Facebook, Twitter and many others like them are great places to have accounts and to participate actively. The purpose of social media is to network with others very actively. Through active online conversations, it is possible for you to display how you feel about certain subjects, and to let people get to see your personality and your expertise about certain topics which can benefit your business. 

06. Failing to get expert help. Every business has its own experts. These are people who have been there long before you and who know exactly what to do. Networking with such people can help your business a great deal. For website building and hosting, you need expert help even at a fee. Search Engine Optimization, SEO, also requires some expert help because of the technicalities involved. Paying for these expert services is worth it if the results directly benefit your business.

7 Tips to Rescue Your Business from Tough Times

These days, when we admit a business is going through tough times, it simply means it is experiencing cash-flow problems. There is some evidence to suggest that many business owners often meet very serious cash-flow issues in their businesses. These issues in some cases do threaten the real survival of these businesses. When times are tough for any business, it takes real struggle to keep the business afloat. That is when the managerial capabilities of the business owner get tested to the fullest. Below are seven tips which can help your business stay afloat when funding is tight and times are tough.

01. Cut back on your working capital. When times are tough, the most logical thing to do is to embark on cost-cutting here and there. You can cut your working capital if you freeze increases in your inventory. That is because inventory usually ties up cash which you need freed up for use elsewhere in your business. In addition to reducing your inventory, you can also be more diligent in collecting your debts. That helps to improve your cash-inflow.

02. Suspend spending on capital items. In many businesses, spending on capital items is always a long-term investment. When the times are tough, it is simply prudent to suspend spending on capital items altogether. That frees up your much-needed cash for other vital areas of the business. When your business is struggling to pay salaries and meet other essential overheads, embarking on capital spending is not a very smart thing to do.

03. Closely watch your expenses. In very difficult times, it makes economic sense to cut operating expenses. Keeping a close watch on these expenses enables you to know what to cut and what to keep. Whatever you cut, but sure they do not completely cripple your business. Keeping your business alive through reduced operations is clearly better than allowing it to go under if you fail to act prudently.

04. Keep a tight control on your inventory. Be sure you have very good and up-to-date records of your inventory. That is one vital way to avoid undue leakages through losses and thefts which your business can least afford. Use due diligence at verifying all claims from your creditors and pay only for items your business actually needs on the short run.

05. Renegotiate your main concessions. When times are tough for your business, you can ask for new business concessions or you renegotiate better terms on your existing concessions. For example, you can ask for waivers on interest charges, fees, rates which your business has already been assessed on or you ask for extended terms to pay. These actions can give you temporary respite when you have cash-flow problems. Going bankrupt is neither in your interest nor in the interest of your creditors. That is why your creditors need real flexibility to help keep you in business through tough times.

06. Explore every way to grow your sales. One of the most sensible reactions to a cash-flow squeeze is to grow sales. That is because getting more cash-inflows into the business is what makes real sense in tough times. To sell more, it is good to explore ways to produce on order if the customer is paying cash in advance. What your business needs in tough times is real cash and if your sales bring in cash when you supply or before you supply, that is better on the short run for the business.

07. Explore viable ways to refinance the business. In tough times, be ready to negotiate any and everything which can help your business to ride out the storm. For instance, if you can negotiate and restructure your debts, it is capable of lowering what you pay out regularly to service the debts. Refinancing usually frees up some cash for you to use elsewhere in the business.

From the foregoing, it is clear that when your business faces tough times, it is best to focus all your managerial decisions on limiting cash-outflow from your business and increasing cash-inflows. That is how best you can quickly ride out the tough times. These 7 tips come in very handy in that quest.