Lillaflickanemma Business Journal: April 2017

Friday, April 14, 2017

8 Business Name Mistakes That Investors Hate to See

Every new baby gets a name before it is introduced to the world, and yet some entrepreneurs continue to send me business plans with TBD (to be determined) in place of a business name on the front page. They don’t realize that the name they choose, or lack of it, sets an initial perception of the business that may override all of its value. Your business name will have the same impact on potential customers.

Just as with names of people, there isn’t any ultimate right or wrong, and every name has unique implications in different cultures, economies and markets. Names can imply strength, value, connection or friendliness, or they can set opposite tones. As you search for that perfect name, it pays to avoid the key mistakes that we investors and business naming experts hate to see:

Thursday, April 13, 2017

6 Strategies for Marketing Your Retail Business Online

When it comes to marketing your business, social networking is much more than social. It can position you as an authority in your field and coax your audience to depend on your wisdom. With a little dedication, creativity, and knowledge, it can be an incredible tool, not only for growing your business but also for changing the way others perceive you. Simple assignments online can multiply your relevant, real-life connections, manifesting in customers and recognition.

The appropriate pairing of a social networking style with your particular business image is important. If your laundromat is known for its family-friendly movies, which run while patrons wash their clothes, you can connect to your biggest audience (parents) by thinking about their interests. Many parents want to know about the content of movies before they let their children watch them. Creating or joining an online “G-rated movie” community on Flixter, a social film review site, might be a productive way to grow your laundromat’s visibility with parents in your community.

Four Best Business Tips

“Entrepreneurs have a great ability to create change, be flexible, build companies and cultivate the kind of work environment in which they want to work.”
“Customers are a great way to finance a business for many reasons. First, customer financing is typically non-dilutive. They want something from you other than equity in your business. Customers also help you fit your product to the market. And customers will help debug and improve the quality of the product.”
Build a business where culture is the number one priority. Our belief is that if you get the culture right, then most of the other stuff, like great customer service and building a great brand, will happen naturally on its own.”
“Government funding success starts with identifying business priorities.”
“You have to understand your own personal DNA. Don't do things because I do them or Steve Jobs or Mark Cuban tried it. You need to know your personal brand and stay true to it.”
“Update a traditional element of your business with social media designs. Facebook, Twitter, and other social media are hot right now, and leveraging their popularity can make your business stand out, be memorable, and seem fresh and up-to-date.”