2010 small business trends
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2010 Small Business Trends & Opportunities
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1. “It’s the Cloud, Stupid”
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Data Center Servers
Employee Computers
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1: “It’s the Cloud, Stupid” How to Participate Internally
Key categories: productivity software such as accounting & officecollaboration platforms for distributed workforce, clients,
business partnersdata backup servicesmarketing
Find apps that integrate with other apps; syncing with mobile apps a nascent area
Key issues: price, vendor reliability, securityStaff usage of Internet is double-edged
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1: “It’s the Cloud, Stupid” External Revenue Opportunities
“Productize a service” into an online applicationName itPut limits around itGive it a Web front endFlat rate pricing – move away from time-based pricing
Replace hardware-related services with “soft” servicesHardware related services skrink & get commoditized
Make your website transactional:Add appointment scheduling & customer service online
Look at existing apps for ideas in your market “Borrowing brilliance” model by David Kord Murray
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2. DIY Marketing Grows
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2: DIY Marketing Grows
Save money, gain customer intimacy by doing marketing in-house
How to Participate InternallyUse lower cost technology instead of employee laborBuild a customer community onlineSpread content far and wideHire people for their ability to use DIY resources/appsHire good writers and techno-marketers
External Opportunities – “Assist the DIYs”Create apps (mobile and SaaS) to help businesses “Teach” and “Help” the DIY market
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2: DIY Marketing Grows Resources – stunning array of DIY tools
Email marketing: Vertical Response; Constant ContactBanner ads: PointBanner.comPostcards: HP Creative Studio; USPS; Vista PrintCommunity & learning software: Prfessor.com;
WordPress MU; BuddyPress; Ning; VBulletinFollow-on marketing automation: Hubspot; InfusionsoftSEO: LotusJump.com; SEOMoz; Knowem.comDIY public relations: PRWeb.comAdvertising: Google AdWords
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3. “Green is the Color of Business
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3: “Green” is the Color of Business Good Opportunity for Near Term – less certain
long term How to Participate
Combine passion for sustainability with your expertiseEvent Planning: Seven Stars EventsLandscape Design: Fiddlehead Landscape Design
Switch to recycled packaging Make your commitment open – to differentiate Grants & stimulus fund available for green techDon’t “greenwash” – backfires with those who care
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4. Everyone can be a Celebrity
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4: Everyone Can be a Celebrity
Use executives’ personal brand to promote businesses, ala Richard Branson
Thought leadership, expertise based brand:Gary Vaynerchuk (Wine Library TV)Tony Hsieh (Zappos)Tim Berry (Palo Alto Software)
How to ParticipateEstablish a resume site - your name as URLCreate content in your expertise Establish social media “outposts” (company & execs)
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4: Everyone Can be a Celebrity
Resources for thought leadership:URLs: Go Daddy; Network Solutions Blog publishing: Wordpress.com; WordPress.org:
Typepad.com; Blogger.comSelf-Publish (lulu, kdpress)Find a book agent: “Literary Marketplace” ref book
(publishers no longer accept unsolicited manuscripts)3 “MUST” social media sites for personal-brand
outposts: Twitter; LinkedIn; Facebook
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5. The “Carry Your Computer” Trend
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5: The “Carry Your Computer” Trend
Computers and mobile devices converge How to Participate internally:
Install stripped-down “M Dot” mobile template for your website (http://m.twitter.com)
Build a “text message list” – 96% of messages openedCreate an a mobile app for your biz, blog or website Price and location services through barcodes, GPS
External Opportunities:Apps developmentMobile consulting: tech and marketing specialists
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Resources Create mobile website: Mofuse, Zinadoo.com Mobile plugins for CMS packages like WordPress
Smashing Magazine create-an-app tutorial: http://www.smashingmagazine.com/2009/08/11/how-to-create-your-first-iphone-
application/
Mobile marketing: FanMinder.com Google the phrase: “create iphone app” Apps directories: Appolicious.com
5: The “Carry Your Computer” Trend
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6. Location Based Presence Online
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6: Location Based Presence Online
Local directory listings and marketing finally gaining critical mass
How to ParticipateClaim listings; update all directoriesSEO optimize for local: website and listingsLocal businesses: offer coupons/discounts via Twitter,
Facebook, Yelp, Merchant Circle, yellow pages onlineCollect “location” information for marketing listsDevelop “community” online; enhances loyalty
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ResourcesGetListed.orgLatitude and Foursquare.com – create
communityGoogle; Bing; Yahoo offer local listingsTwitter introduced Local Trends
6: Location Based Presence Online
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7. Government Contracting Grows
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7: Government Contracting Grows
Opportunities for next 3 yearsOften more lip service than reality Still, opportunities = $$ for small biz
External OpportunitiesBreak in through subcontractingRelationship with decision makers is crucial – businesses
in Washington, DC area beneficiariesWomen, Veterans and Minorities may find “gold” due to
agency contracting goalsDon’t overlook state and local contracting opportunities
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Resources Per Dawn Rivers Baker of Microenterprise Journal:
Visit SBA contracting education center: http://www.sba.gov/training/governmentcontracting/index.html
Also register in Contractor Database: https://www.bpn.gov/ccr/default.aspx
PTAC counseling: http://www.aptac-us.org
SCORE and SBDC workshops and counseling
7: Government Contracting Grows
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8. Harder to Get Found Online
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8: Harder to Get Found Online
More websites, more companies online How to Address Internally
Longevity matters – start now Don’t ignore an old website; keep it fresh Develop internal expertise in online marketing & tech Shift more marketing spend online Do get outside SEO / SEM help SEO is required knowledge for business owners –
learn so you can communicate with pros
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8: Harder to Get Found Online
External OpportunitiesSEO growth: services plus DIY apps/toolsPR and marketing firms can add servicesEndless range of online marketing apps to be builtAnalytics; dashboards; “analytics interpreters”HostingSocial media marketing (“multiplying like rabbits”)
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9: Crowdsourcing Customers
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9: Crowdsourcing Customers
Customer input to design new products and services; improve existing ones
Idea not new – but the tools today make it easier, cheaper, faster
How to ParticipateCreate a “space” where customers can interact and
provide feedback: Ask questions on your web site or blog; open commentsUse online survey tools and bolt-on customer feedback apps
Create digital listening outposts on social media
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9: Crowdsourcing Customers
ResourcesSuggestion/customer service bolt-ons:
IdeaScale.com; UserVoice.com; GetSatisfaction.com
Online survey tools: QuestionPro; SurveyMonkey; Zoomerang; SurveyGizmo
Social Media for listening:Twitter; Facebook Fan pages and Groups; LinkedIn AnswersProduct forumsCompany blogs
Create a social media hub page like Akron Canton Airport site
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10: More Sole Proprietorships
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10: More Sole Proprietorships
High unemployment = more startups 20+ Million small businesses with no employees
Some will remain “lean” – never hire employees Most will be service based businesses
Opportunities serving these startups Clearly distinguish your target market – “niche-ify” Price your services for startups; encourage repeat
business with recurring revenue streams Virtual online services have appeal
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10: More Sole Proprietorships If you are starting up, consider something you know:
Pet businesses Web businesses & “Productized services” Kids services and products Convenience services (“dog walking”) Home based franchises Apps development Online content and social media services Virtual assistance; virtual bookkeeping Specialty foods (esp. for health & wellness) Consulting in your old industry/old employer
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Anita Campbell, Founder
Small Business Trends
SmallBizTrends.com
BizSugar.com
Twitter: @Smallbiztrends
Questions? Thank you!