Did You Know…
Roughly 90% of buyers:
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Are 1st time buyers
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Have never been in business before
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Will use financing to purchase a business |
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BusinessQuest Newsletter
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December 2007
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Making Your Mark on The Web
With today’s growing Internet marketplace, business owners are surrounded by an abundance of “how to’s” in establishing an Internet presence for their company. A current popular suggestion is for businesses to create a blog that will provide useful information, establish credibility and utilize keywords and content to drive traffic to their website. Managing a blog, however, can be a time-consuming task for otherwise busy entrepreneurs.
So where does this leave business owners who have a wealth of knowledge, but not a lot of time to share it? One answer is: (coincidentally) Yahoo!® Answers (answers.yahoo.com).
Yahoo! Answers allows users to ask a question, answer a question or read what other users are asking aboutin a variety of categories and sub-categories. For a business owner, utilizing the “answer a question” feature can provide many of the same benefits of a blog, without the time commitment.
To get started on Yahoo! Answers, a user needs to create a User ID and profile by providing some basic information. It is important for business owners to include a business email address and company website address to facilitate communications and drive traffic to the company website.
The next step is to find questions that you can answer effectively. For example, IT consultants can share their knowledge in the “Computer & Internet” section. Numerous useful and relevant answers will enable a user to build credibility, which is displayed to all users as rating points. Points are awarded for the number of answers you submit; additional points are awarded for “best answers,” so the more you participate the more credible you will appear to other users.
When answering questions, it is important to keep in mind that Yahoo! strongly discourages any form of solicitation or spam. Violations of these policies can result in account suspension. To guard against this, make sure that any informational material you reference or provide is relevant to the questions being asked.
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A Professional Look, On a Budget
The imagery you use in your marketing materials and advertising is important to represent your brand and appeal to your target market. With the growing number of stock photography websites, small business owners no longer have to pay a premium for professional images. Royalty-free stock photographs are available online at reasonable costs. Images canbe purchased for as little as $1. Typically, you pay a one-time fee for an image that can be used multiple times in various forms of media. However, this image is licensed to one user and cannot be redistributed. Since the license is Royalty-free and multiple users can purchase the image, exclusive rights are not available. Each stock photography website has their own set of license and usage restrictions, which you should review before making a purchase. Ready to create a new (and inexpensive) look for your next brochure?
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SBA’s Patriot Express Loan Initiative
The Small Business Administration has recently conducted a research study analyzing the differences between male and female entrepreneurs. Previous studies have shown that female-owned firms have lagged behind their male counterparts. This study was designed to determine why there are performance differences between male- and female-owned companies. The study found that with controlled factors, gender does not play a role in the success of a new venture. However, other factors, such as expectations, reasons for starting abusiness and motivations, did result in varying outcomes. The differences between male and female ventures found by this study include: A summary or a copy of the complete report can be downloaded on the SBA Department of Advocacy website, www.sba.gov/advo/research. Men tend to have more prior business experience. Women are less likely to purchase their business. Female business owners are more likely start a business togain recognition from others. Male entrepreneurs are more likely to work full-time. Women are more likely to prefer low risk/return businesses. Female entrepreneurs are more likely to start a business to achieve work-family balance. Men have higher expectations for their business and did more research to identify business opportunities. Male owners are more likely to own technologically intensive businesses and businesses that lose their competitive advantage more quickly. |
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Gender Differences in Entrepreneurship?
Small Business connections The Small Business Administration has recently conducted a research study analyzing the differences between male and female entrepreneurs. Previous studies have shown that female-owned firms have lagged behind their male counterparts. This study was designed to determine why there are performance differences between male- and female-owned companies.The study found that with controlled factors, gender does not play a role in the success of a new venture. However, other factors, such as expectations, reasons for starting abusiness and motivations, did result in varying outcomes.The differences between male and female ventures found by this study include: A summary or a copy of the complete report can be downloaded on the SBA Department of Advocacy website, www.sba.gov/advo/research. Men tend to have more prior business experience. Women are less likely to purchase their business. Female business owners are more likely start a business togain recognition from others. Male entrepreneurs are more likely to work full-time. Women are more likely to prefer low risk/return businesses. Female entrepreneurs are more likely to start a business to achieve work-family balance. Men have higher expectations for their business and didmore research to identify business opportunities. Male owners are more likely to own technologically intensive businesses and businesses that lose their competitive advantage more quickly. |
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