Small Business Guide - Small Business Resources
    (Add to Favorites  |  View All Articles  |  Resource Directory)

Speed Kills on the Web!


I only have to point to the 555 plus failed .com companies (according to Web Mergers) as the poster children of the "speed at any cost" business mantra that clearly doesn't work. And these were companies who burnt through significant amounts of capital (in the millions, tens of millions or hundreds of millions in many cases) while they were rushing to get to market.

Do you wonder why every time you talk to someone he or she seems to be in such a hurry that they don't really have time to talk with you? But if you want to work with them, you have to try and converse on the phone as a first step, or even worse, setup some type of a face-to-face meeting. What's going on? Why aren't we all slowing the pace down so we can focus on business processes that are based upon viable models? Especially in these economic times where relationships and processes are critical to ongoing success and/or survival!

I think we are experiencing some type of a .com hangover effect. Everyone was in such a hurry during the heady GBF ("get big fast") .com days ... trying to do the "land grab" while "driving an "online brand" that would lead to a quick "exit strategy" ... that they forgot to really define a viable business model that included development of tangible goods and services for real customers.

I still come into contact with many people that act like they've been hard wired to a double espresso. They aren't sure what they are doing or where they are going, but they want to do everything in a hurry! It seems like many are still trying to build a business the same way they did during the last two years, when fundamentals and many niceties of business went out the window, while greed became the order of the day.

We are telling our clients speed can and does kill on the web. It's time to slow down and think strategically about what they want to do and then build marketing campaigns and processes that convey tangible value to their market demographics (read customers!).

Here are some fundamental marketing rules for living life in the slow (but safe) lane:

1. Ensure all marketing collateral (web and offline) are in synch. Invest sufficient time and resources to ensure there are no discrepancies between them to build a cohesive brand that effectively communicates what you do.

2. Take time to really evaluate business opportunities. Don't just blast through relationships, meetings or assessments. Many times you can build viable partnerships by sitting down and taking a hard look at how third parties complement your business and vice versa.

3. Use the web for what's it's really meant for - as a highway for communications and commerce. It's not the "saving grace" its been touted to be by many companies; 87% of Internet users today utilize the web to research goods and services.

4. Make time to look at your competitors, whether they are across the road or on the other side of the world. The web has created a commerce model where a competitor is just a click away. So carefully analyze what your competitors are doing.

5. Communicate with your customers and partners. It doesn't do much good to build a beautiful web site that does not make it easy for people to contact your company. I've seen hundreds of web sites the last year that don't have e-mail contacts or phone numbers listed prominently. Take/make time to build a site that lets people communicate with you.

6. Hire people with some gray hairs. They may not flash the latest PDA at you or wear the latest trendy clothes, but many of them have years of experience building companies slowly and carefully, by paying attention to business fundamentals. I've got nothing against youth, but it seems like many over 40-somethings got left by the wayside in the .com mania and to the detriment of many companies.

7. Think small when you're building a business. The billion dollar days are gone with last year's PR hyperbole. I get no royalties from E.F. Shumacher, but I really think his "Small is Beautiful As if People Mattered" is a wonderful book and the forward is done by Paul Hawken, a brilliant serial entrepreneur, well known for his landmark PBS (Public Broadcasting Service for global readers) series on "Growing a Business" that inspired many of us to take the entrepreneurial plunge.

About The Author

Lee Traupel has 20 plus years of business development and marketing experience - he is the founder of Intelective Communications, Inc., http://www.intelective.com a results-driven marketing services company providing proprietary services to clients encompassing startups to public companies. Lee@intelective.com


MORE RESOURCES:

News provided by Yahoo! News and Google News

TD Bank Small Business Pulse Check Finds 70 Percent of New York City Businesses Optimistic about 2015 Opportunities
CHERRY HILL, N.J., Feb. 23, 2015 /PRNewswire/ -- New York City small business owners have a positive outlook on their business prospects in 2015, according to the second annual Small Business Pulse Check by TD Bank, America's Most Convenient Bank®, a regionally focused survey that explores the challenges and opportunities facing small businesses. TD Bank asked 495 business owners across the five ...

Investors leading surge on small-biz loans - Insurance News Net

Investors leading surge on small-biz loans
Insurance News Net
And it's never been more fitting than it is when he's talking about the Short Hillsbased bank's business lending. "We made a commitment to increase our business lending back in 2012," he said. "It just happened to coincide with an improvement in the ...

and more »

Small Biz Sentiment Slips In January - Advertising Specialty Institute (press release)

Advertising Specialty Institute (press release)

Small Biz Sentiment Slips In January
Advertising Specialty Institute (press release)
Weighed down by worries over inventories and investment, U.S. small businesses were less optimistic in January, according to a closely-watched survey released this week. New data from the National Federation of Independent Business (NFIB) showed ...

Mayor makes another vow to cut small-biz red tape - Crain's New York Business (blog)

Mayor makes another vow to cut small-biz red tape
Crain's New York Business (blog)
Mayor Bill de Blasio unveiled a five-year, $27 million plan Tuesday aimed at slashing red tape for small businesses, including a proposal to help business owners avoid pesky violations and fines. The plan, entitled Small Business First, includes 30 ...

and more »

GST burden killing small business
Politicians and central bankers scratching their heads wondering why businesses aren't investing ought to speak to Sydney hairdresser Penny Martin. Ms Martin decided to work from home instead, letting five employees go and turning down clients to keep her annual revenue below $75,000 - all to avoid GST paperwork. "I have purposely scaled down my business for that very reason, because it's all ...

Small Business Economy Continues To Grow Modestly
NEW YORK, Feb. 23, 2015 /PRNewswire/ -- Newtek Business Services Corp., (NASDAQ: NEWT), The Small Business Authority ® , announced today the release of the SB Authority Index of small business indicators ...

AIR MILES for Business celebrates Canada's outstanding entrepreneurs at the 2015 Small Business Achievement Awards
Congratulate Canada's rising small business owners recognized for their outstanding achievements in a variety of categories TORONTO , Feb. 23, 2015 /CNW/ - Today, the AIR MILES ® Reward Program is proud ...

Judge tells American Express it can't bully small biz - Crain's New York Business

Crain's New York Business

Judge tells American Express it can't bully small biz
Crain's New York Business
Judge tells American Express it can't bully small biz. The court decision could give merchants more leverage to cut costs. Last week, Costco Wholesale Corp. and JetBlue Airways Corp. ended their relationship with AmEx. Article; Comments. Print; Email ...

and more »

Home | Site Map | Privacy Statement | More Articles
© 2006