The goWholesale Blog

Liquidation in the news again!

January 31st, 2008

Liquidation.com was featured in a story about how buyers can purchase discounted goods following the holiday returns season. The story aired on Indiana’s Fox59 News in Indianapolis and Liquidation.com’s Brian Johnson from the Plainfield warehouse was interviewed. To watch the clip (it’s only a few minutes) click below:

Liquidation.com on Fox News

For more information about buying holiday returns check out Catch the Post-Holiday Wave: Sourcing Wholesale Store Returns

Posted in Announcements, In the News, Product Sourcing | No Comments »

What you should know about Web 2.0

January 30th, 2008

You may have heard and/or seen the term “Web 2.0″ floating around on the internet. But what does it mean? More importantly, what does it mean to YOU?

Essentially, Web 2.0 is the “next generation” of how we use the internet to communicate. For example, the invention of new tools and applications such as blogs, RSS feeds, and social networking sites. All of these allow internet users to more freely interact with each other whereas before, this level and type of interaction was very limited. The most important thing to remember is that Web 2.0 is more of an idea or way of thinking about the internet than it is an actual reality. In the most simple terms, it’s the evolution of how we use the internet.

True, it’s not as simple as I’m trying to make it seem so for a more detailed explanation I suggest Wikipedia (ironically, a staple of Web 2.0). But here’s what the buzz is all about and why Web 2.0 is so important. It’s all about having more ways to reach your target market. Before, marketing and advertising took an extreme amount of effort to reach a lot of people.

Now, it still takes persistence and hard work, but the rewards are much greater and the odds of reaching more potential customers has changed the way we do business. Online businesses that cater to niche markets can flourish with customers from all over the world whereas before, such an endeavor would have been impossible.

So if you are starting a new business or have an existing business you are trying to grow, be conciencious of how Web 2.0 can affect your business. It will likely be for the best if you can devote time and resources into exploring these avenues. It’s pretty important not to let this ship sail without you on board! So when you are planning your marketing/advertising strategy, don’t forget to include it in your plan.

Posted in E-Commerce and E-Business, Marketing Your Business | No Comments »

The Most Awesomest FREE Small Business Resource EVER

January 29th, 2008

Okay…maybe that’s an exaggeration. But it’s certainly one of the best I’ve come across. It’s called SCORE “Counselors to America’s Small Business.” Their About page describes them as follows:

“SCORE “Counselors to America’s Small Business” is America’s premier source of free and confidential small business advice for entrepreneurs.”

Sounds pretty good to me! And from navigating a bit through the site myself, there are many great links to advice, articles, suggestions and answers to pretty much anything you can think of if you are just starting out.

Oh yeah, and did I mention, it’s FREE?!

Here’s the link: SCORE “Counselors to America’ Small Business”

Go get ‘em tiger!

Posted in Starting a Business | 1 Comment »

Online Review Sites - The Businessman’s Friend and Foe

January 28th, 2008

In years past, word of mouth was the best way to learn about which products and services were the best. You’d talk to your friends, your family, your neighbors–and buy your desired product based on the information you garnered from them.

Well today, it works much the same way, but on a much much much much MUCH greater scale. Instead of the few people you used to talk to, you now have hundreds of other customers just like you, who can (and do) share their opinions, literally at your fingertips. The internet has made product and service review sites an invaluable resource for consumers. But they have also become a bit of a headache for businesses.

If your business is listed on these review sites (such as Yelp, AOL’s Yellow Pages, CNet.com, or various review sites for travelers) be conscientious of what people are saying. If you receive negative reviews it will hurt your overall rating and for all you know, it could be an easy fix!

You can certainly contact the site administrators and if your case is valid, they may agree to remove an unfounded negative review. Also, you may be able to contact the dissatisfied customer and attempt to repair the tarnished relationship. By doing so they might agree to revise their review. You never know.

With more and more people turning to online reviews you can’t afford not to be aware of your rating and what customers are saying about your business.

Posted in E-Commerce and E-Business, Marketing Your Business | No Comments »

When is enough, enough?

January 24th, 2008

I’m all for instant access–to everything from entertainment news to directions from my TomTom. I mean, if I could have instant access to being showered and dressed every morning by pressing a few buttons, believe me, I WOULD. However, in this increasingly “instant” world we now live in, is there going to be a point when everything is so readily available that it just becomes too much?

Allow me to illustrate using a brand new business networking technique called “workstreaming.” You’ve heard of blogging as a means of keeping customers, clients and visitors up to date on different goings on, and perhaps you’ve also heard of micro-blogging tools such as Twitter. Workstreaming combines these tools to give people INSTANT instant access to what you are doing. Web Worker Daily describes it as:

“the publishing of work-related activities and events to your remote colleagues, usually via RSS but sometimes in other formats and ways.”

Another description from the AnyWired blog:

“A workstream is a live updated record of work you’ve completed. When doing group work with remote colleagues, it allows you to keep track of what everyone else is doing. When working solo, it helps you keep track of your own productivity.”

Now, if you’re using it in the context of keeping co-workers up to date on accomplishments on a group project, fine. But otherwise, it begs the question: Who cares?

What do you think?

When you’ve already got plenty of virtual responsibilites (email, blog, myspace and/or facebook pages, etc) do you want to tie yourself down to posting up to the minute tidbits? And do you think there are enough people out there that would read them enough to make it worth your while? What about if you did this strictly for your business website involving store promotions, job openings…..?

Talk to me. Tell me how this is productive.

Posted in General Discussion | No Comments »

And the winners are…

January 22nd, 2008

Well, unless you happen to be the type of entrepreneur who lives under a rock, you’ll probably have glimpsed the list of the 29th Annual Franchise 500.

But in case you haven’t here are the top 10:

1. 7-Eleven Inc.

2. Subway

3. Dunkin’ Donuts

4. Pizza Hut

5. McDonald’s

6. Sonic Drive In Restaurants

7. KFC Corp.

8. InterContinental Hotels Group

9. Domino’s Pizza LLC

10. RE/MAX Int’l. Inc.

And if you’re interested, here’s the rest of the list!

Posted in In the News | No Comments »

Are you a workaholic?

January 21st, 2008

If you are starting a new business, chances are that you aren’t getting much sleep, much exercise, or much free time to do anything. This kind of dedication to the business is necessary and understandable in the start up years–even expected. Almost like earning your entrepreneur “stripes” or paying your dues. I mean, you’ll want to have some good stories for your grandchildren right?

But there comes a time when some people, for whatever reason, cross the line between hard work/dedication and slip into the “workaholic” zone. If you are single and childless and plan on staying that way for the rest of your life, then by all means, go for it. But if you are like most, you have a spouse and/or children (and if you don’t you’d probably like to have one or both someday) and will need to learn the importance of balancing your work life and your personal life. If you are struggling with this and feel like your personal life is suffering due to your addiction to your work then you may want to reevaluate your routine.

While some of you reading this may find this post amusing or even a bit ridiculous, for others, it is truly an issue. So for those of you who think you might be a compulsive worker here are a few questions straight from the Workaholics Anonymous webiste that may help you figure out if you are working too much:

Do you get more excited about your work than about family or anything else?
Are there times when you can charge through your work and other times when you can’t?
Do you take work with you to bed? On weekends? On vacation?
Is work the activity you like to do best and talk about most?
Do you work more than 40 hours a week?
Do you turn your hobbies into money-making ventures?
Do you take complete responsibility for the outcome of your work efforts?
Have your family or friends given up expecting you on time?
Do you take on extra work because you are concerned that it won’t otherwise get done?
Do you underestimate how long a project will take and then rush to complete it?
Do you believe that it is okay to work long hours if you love what you are doing?
Do you get impatient with people who have other priorities besides work?
Are you afraid that if you don’t work hard you will lose your job or be a failure?
Is the future a constant worry for you even when things are going very well?
Do you do things energetically and competitively including play?
Do you get irritated when people ask you to stop doing your work in order to do something else?
Have your long hours hurt your family or other relationships?
Do you think about your work while driving, falling asleep or when others are talking?
Do you work or read during meals?
Do you believe that more money will solve the other problems in your life?

If you answer “yes” to three or more of these questions you may be a workaholic. Please visit the Workaholics Anonymous website for more information.

If you don’t think you are a workaholic, but would still like some tips on maintaining a healthy work/life balance you might want to check out “Achieving a Work Life Balance Wherever You Work”

Oh, and Happy MLK Day!

Posted in General Discussion | No Comments »

Management resource

January 18th, 2008

Okay, so you’ve got your idea, your business plan, your funding, your location and you’ve hired some employees–but wait! You’ve never managed anyone before! Where do you even start!?!

Well if you’ve got enough savvy to start your own business, it’s likely that management will come somewhat naturally to you. But no matter how well versed you are (or think you are) in dealing with people, there are undoubtedly going to be unforeseen issues that arise that you will not be prepared to handle.

Since this will likely be the case, I recommend you book mark a website called ManageSmarter. This website has it all. Articles, advice, tips, suggestions, etc. And it covers topics such as keeping your employees motivated, how to rev up your sales team, how to train your employees and also industry guides, expos and events, blogs and much more.

Hopefully it’ll end up being a useful tool in your “toolbox!”

Posted in Hiring and Human Resources | No Comments »

Thinking about going global?

January 16th, 2008

If you haven’t seen it already, Entrepreneur.com has a great article listing 20 things to consider before you take the leap. Here are the first 5:

“Factor 1: Get company-wide commitment. Every employee should be a vital member of your international team, from the executive suite to customer service through engineering, purchasing, production and shipping. You’re all in it for the long haul.

Factor 2: Define your business plan for accessing global markets. An international business plan is important in order to define your company’s present status and internal goals and commitment, but it’s also necessary if you plan to measure your results.

Factor 3: Determine how much you can afford to invest in your international expansion efforts. Will it be based on ten percent of your domestic business profits or on a pay-as-you-can-afford process?

Factor 4: Plan at least a two-year lead-time for world market penetration. It takes time and patience to build a great, enduring global enterprise, so be patient and plan for the long haul.

Factor 5: Build a website and implement your international plan sensibly. Many companies offer affordable packages for building a website, but you must decide in what language you’ll communicate. English is unarguably the most important language in the world, but only 28 percent of the European population can read it. That percentage is even lower in South America and Asia. Over time, it would be best to slowly build a site that communicates sensibly and effectively with the world.”

For the rest of them check out “20 Factors to Consider Before Going Global”

Also check out “Preparing Your Business to Enter the Foreign Market” and “Gathering Foreign Market Research” for more information on going global!

Posted in Doing Business Internationally | No Comments »

IBM isn’t wasting time “Ideating”…are you?

January 15th, 2008

If you’ve been watching any tv lately, you’ll have seen IBM’s commercial for their new campaign “Stop talking. Start doing.” If you haven’t…watch a football game or two. I guarantee you’ll see it.

True, it’s lighthearted and humorous but they’ve actually got a good point. It’s easy to get caught up in brainstorming new ideas and even falling into an “innovation trap”, which would be the feeling that you can’t move forward without some brand spanking new incredible ideas. While every business is constantly in need of fresh ideas, if you get too wrapped up in it, it will become debilitating not to mention frustrating when you don’t get the results you are looking for.

So what should you do? Well, take a page out of IBM’s book. While they are always working to produce the next big thing in technology, they are now apparently simultaneously looking for ways their business can work with other businesses (and potentially piggyback on a major success!). Look to others to see what they are doing and see how you can help them do it more efficiently, or better. This isn’t to say you should steal other people’s ideas, but there are countless opportunities available for your business to perhaps form some sort of partnership.

No one ever said innovation had to be an individual activity. So take some time to think about where your business might fit into others ideas and you may just find a $wealth$ of benefits in doing so.

Posted in Generating More Sales, Marketing Your Business | No Comments »

« Previous Entries