A Website Does NOT an Online Strategy Make…
Another day, another conversation with a Business Owner who thinks that having a website covers off the Online Strategy question…
IT DOES NOT!
A website forms part of an Online Strategy, absolutely.
But is it not the be-all that ends-all.
In fact it is only a small part of the overall digital consideration.
From a “Sale-ability” point of view, when asked about what digital | online strategies are in place, if “I’ve got a website” is offered as the answer, the potential buyer will start rubbing their hands together in glee (if it’s a business they want that is).
Why? Because it gives them an issue on which to start down a sale price-discounting path.
Do you have to cover off every little thing to appeal to a potential buyer?
Well ideally, yes, but we know that’s not necessarily doable.
However, given the growing impact and importance of the whole digital | online space, “what is your Online Strategy?” is one question Business Owners looking to sell have to have a well-formulated and accurate response for.
Aren’t Late-in-the-Day Meetings Tough, especially when the questions just keep coming?
Had a 5:30 meeting today between a seller and a potential buyer. Thought this will be OK, out by 6:30 max, no problem.
7:30, still standing in the street with potential buyer, attempting to ask more questions…
aaaarrrggghhhh
Got to thinking, why this was so?
Was the Information Memorandum not detailed enough?
Was the potential buyer not prepared enough?
Neither of these are the case. In fact, there was probably too much detail and prep!
What it is… a potential buyer, who as an experienced buyer at that, is looking to buy into a market he does not understand.
Actually, let me be more specific. It is not the whole business he does not understand, it was only part of the business, ie the Online component. He knows its a market he should be playing in but knows enough about it to b e dangerous!
I envisage a whole lot more questions to come yet…
Business Owners, soon-to-be past or present, you must have a handle on Online and how it impacts your business.
If you have not started this journey already, please do so now…
Is this for you? Flexible/Part-Time Online Fashion Business
Are you looking for a business to make your own?
Are you a “Fashionista” who has always wanted to own your own fashion business but thought it out of your league?
Could you add this to your existing business perhaps?
Then maybe this little business is for you…
Working approximately 15 hours per week, the owner is making an adjusted profit (after paying for expenses, including stock) of $38,000 – $48,000 per year for the last 2 financial years.
Ideal business for those who do not want to take the risk of a “new start up” and prefer to take over a proven business model.
Minimum overheads and low stock value.
The online business is already fully functional and profitable; therefore there will be no lag time in terms of creating immediate revenue.
The current owner has already done all the hard work setting up this business. Many variations of process have been tried, through trial and error and the current processes have proven to be profitable, with minimum working hours.
Products are fashion oriented and would suit those with interest in fashion.
Flexible working hours and potential for further growth.
As part of the sale, the current owner is prepared to pass the knowledge, tips and tricks of the trade on to the new owner.
Price includes all stock and equipment.
Interested? click here for details of what to do next…
Top 5 Social Media Fails of 2012…
Good learning here #BusinessOwners… note to self: thoroughly think through#OnlineStrategy rollout and execution…
Every experienced social media manager knows that social media can be unpredictable. Sometimes, you expect one kind of response from your social followers, but get something completely different instead. As a result, we have social media campaigns that go viral in the blink of an eye and online campaigns that turn total failures (see the infographic) and even cause quite a damage to the company’s reputation.
But not everything is unpredictable in this life, of course, and certain conclusions can be drawn from other people’s so called social media fails. Live and learn, as they say! read on…
If you are in Professional Services, Don’t Forget your #OnlineStrategy (especially if you want to Sell)
What many professional services firms are forgetting… being complacent and not moving with times make it almost impossible to Sell your Business. But then you knew that, right?
Professional services firms are known as the “safest” b2b marketers, only second behind that of the medical industry.Still stuck in the dark ages, many professional services firms still believe that ’good work speaks for itself’and “you need to find the clients pain” ensuring that they keep it “safe” when embarking on marketing of any kind, rather than looking deep into customer insights to drive leads and create more sustainable client relationships.
What professional services firms are forgetting is that while they may still be on track to achieving their sales goals, being complacent and not moving with the times, will make it almost impossible to stay competitive.
It use to be that you hire the law firm that your parents used or a trusted friend recommended and that was it. No price comparison, no searching for other options and no real negotiation.
5 metrics that sit very nicely in your #OnlineStrategy , especially critical for #exitstrategy to #sellbusiness appeal
Since its inception, digital has been perceived as being the most measurable media. But most of that measurement has been meaningless. It’s time digital marketers stopped talking about clicks and impressions and instead focused on what’s important to marketers — business results. This is pretty easy if you have an e-commerce site and can track direct online sales. But what do you do if you’re part of the 94 percent of retail commerce that occurs offline?
We all know that consumers’ purchase decisions are greatly influenced by digital. They might be trying to decide where to go to dinner on their smartphone, on the web looking up reviews for a car they are considering purchasing, or surfing the web on their tablet after seeing your TV commercial.
Can’t track that impact? Sure you can.
You just need to look at things a little differently.And the things are:
- Overall Site Traffic Trends
- Branded Search Volume
- Conversions
- Converter Traffic
- Referrer data
Togo more in depth on these terms, and read the full article, go here “The 5 metrics that really matter“.
With Ecommerce being Hotter than Ever, be part of the (R)etail (R)evolution…
Exactly as predicted by e-gurus 15 years ago, e-commerce is hotter than ever. Whether in mature markets, where consumer spending is shifting online, or in growth markets where rapid urbanization and increasing (mobile) internet penetration are unlocking new shopping habits, shoppers are ‘e-commercing’ it up.
Some obligatory stats:
- US e-commerce sales will grow 62% by 2016, to USD 327 billion (Source: Forrester, February 2012).
- European e-commerce sales will grow by 78% by 2016, to USD 230 billion (Source: Forrester, February 2012).
- Brazilian e-commerce sales will grow 21.9% in 2012 to USD 18.7 billion (Source: eMarketer, January 2012).
- Chinese e-commerce sales were CNY 780 billion (USD 124 billion) in 2011, an increase of 66% from 2010. E-commerce is expected to rise from 3% of consumption to 7% by 2015 (Source: IDC, March 2012).
- India’s e-commerce market is expected to grow to USD 70 billion by 2020, from just USD 600 million in 2011 (Source: Technopak Advisors, February 2012).
- Indonesian e-commerce sales are forecast to grow from USD 120 million in 2010 to USD 650 million by 2015 (Source: Frost & Sullivan, February 2012).
Now, consumers’ current ‘online’ experiences are of course fundamentally different to those during the early dotcom boom: e-commerce is no longer just about choice, price, convenience, reviews and ratings, but also about everything that consumers look for in any purchase: status, the right product and a compelling experience.
So, time to learn about and profit from the latest innovations that are transforming e-commerce, and ultimately, reshaping shopping behavior. Both on and offline. Click here to do so…
Source: www.trendwatching.com. One of the world’s leading trend firms, trendwatching.com sends out its free, monthly Trend Briefings to more than 160,000 subscribers worldwide.
New Rules of Business; be there or be left behind…
Hello fellow entrepreneurial mothers
Recently I had the pleasure of attending Dale Beaumont‘s fabulous free seminar called “New Rules of Business“…
Dale, as you may know, is not only an award-winning entrepreneur and 16 times best-selling author, but he is the one who invited me to be part of one of the 16 books, namely “Secrets of Inspiring Women Exposed”.
Having learnt so much from him going through that experience, and because I had such a great time and learnt so many more wonderful things at the seminar, I wanted to share it with you. To find out more and discover exactly what it can do for you, click on the link below now: http://www.NewRulesOfBusiness.com.au/Attend
I really think it will make a big difference to how you Build your Mother of a Business, so if you like what you see register online. Then once you attended let me know so we can share notes.
Warm Regards ME!
RECOMMERCE – the latest from trendwatching.com…
Savvy consumers have never had more opportunities to make the most of their past and future possessions. Food for thought as you gear up for the busy times ahead.
It’s never been easier for consumers to unlock the value in past purchases*. Novel brand buy-backs, exchange schemes, online platforms and mobile marketplaces offer smart and convenient options for consumers keen to ‘trade in to trade up’, alleviate financial strains (double dips, anyone?), and/or quell environmental and ethical concerns.
This is the world of RECOMMERCE… read on to find out all about it.
Buyers Showing Interest Across a Range of Businesses; Hurst Partners
Today’s business sales market for small to medium size businesses can best be described in one word – “patchy”. Not all businesses are in demand and buyers are very selective!
Based on current buyer inquiries the following are industries attracting
the most interest:
HIGH…
Accounting, IT services, aged care/personal care
Profitable businesses operating under management
AVERAGE…
Wholesale, niche manufacturing, online businesses
Generally, businesses with a profit BOS* of $100,000 – $150,000
(* Before Owner’s Salary)
LOW…
General retail, health and beauty, home and trade services
Generally, businesses with a profit BOS*of less than $80,000
A positive development is the increasing buyer interest from cashed up professional investors and corporate entities seeking quality businesses delivering a sustainable profit.
This greater level of activity has yet to translate into improved transaction multiples and higher sale prices. However, it should improve overall market confidence if sustained throughout the rest of the year.
In this “patchy” market, advise business owners to start planning ahead if they are contemplating the sale of their business. Putting in the effort to prepare and market the business for sale will increase the chances of locating the ideal buyer; allowing for the owners to exit the business on their terms.
