2010 small business trends

2010 Small Business Trends & Opportunities

1. “It’s the Cloud, Stupid”

Data Center Servers

Employee Computers

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

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

2. DIY Marketing Grows

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

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

3. “Green is the Color of Business

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

4. Everyone can be a Celebrity

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)

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

5. The “Carry Your Computer” Trend

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

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

6. Location Based Presence Online

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

ResourcesGetListed.orgLatitude and Foursquare.com – create

communityGoogle; Bing; Yahoo offer local listingsTwitter introduced Local Trends

6: Location Based Presence Online

7. Government Contracting Grows

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

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

8. Harder to Get Found Online

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

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”)

9: Crowdsourcing Customers

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

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

10: More Sole Proprietorships

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

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

Anita Campbell, Founder

Small Business Trends

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Twitter: @Smallbiztrends

Questions? Thank you!