The goWholesale Blog

Expanding Globally? Here’s Some Food For Thought…

May 16th, 2008

Going global is a huge step. It’s an important one in every business’s growth. Considering the fact that times are what they are, it could mean the survival of your business. So before you step off into the global market, consider the following factors Entrepreneur.com has put together as a sort of "Pre-Going-Global-Checklist":

Get company-wide commitment.
Define your business plan for accessing global markets.
Determine how much you can afford to invest in your international expansion efforts.
Plan at least a two-year lead-time for world market penetration.
Build a website and implement your international plan sensibly.
Pick a product or service to take overseas.
Conduct market research to identify your prime target markets.
Search out the data you need to predict how your product will sell in a specific geographic location.
Prepare your product for export.
Find cross-border customers.
Establish a direct or indirect method of export.
Hire a good lawyer, a savvy banker, a knowledgeable accountant and a seasoned transport specialist,
Prepare pricing and determine your landed costs.
Set up terms, conditions and other financing options.
Brush up on your documentation and export licensing procedures.
Implement an extraordinary after-sales service plan.
Make personal contact with your new targets, armed with culture-specific information and courtesies, professionalism and consistency.
Investigate international business travel tips.
Explore cross-border alliances and partnerships.
Enjoy the journey.

For explanations of these factors click here .

Posted in Doing Business Internationally | No Comments »

Protecting Your Business When Disaster Strikes

May 15th, 2008

The earthquake tragedy in China is only the most recent example of how harmful disasters can be. Not only are they costly in human lives and sheer destruction but also in the number of businesses that will never open their doors to customers again. Disaster can occur on a smaller scale as well such as burglary, fires, hardware crashes and many more.

A White Paper produced by HP and SCORE reveals that about one-third of all respondents to a survey in the paper said they backup their data rarely, if at all. Most of the rest did it less than monthly, and yet 70% of small businesses that suffer a major data loss will go out of business within a year.

We can’t prevent disasters from happening but we can do our best to prepare for the worst. Here are some ways to minimize the loss your business could incur in case something should happen:

* Of course, the easiest and most obvious preventative measure you can take is simply to backup your data , and not just in the same location, but remotely.
* Important documents should be kept in a fireproof safe.
* Software should be utilized to prevent computer worms and viruses from destroying your hard drives.
* Create a plan to keep things running if something should happen. Assign roles and responsibilities as a part of that plan and walk through them with employees. Then keep the plan updated.

Insurance is also another key factor in salvaging a business in the aftermath of a disaster. Check out Small Business Insurance and Why You Need It for more advice.

Posted in In the News | No Comments »

New York Passes Online Sales Tax Law

May 14th, 2008

To follow up with my previous post Internet Sales Tax Looms for NY…Will It Catch On? I posed a question along the lines of “do you think it should happen/is it a good idea?”

As of June 1, 2008, the legislation will go into effect, requiring internet retailers to collect a sales tax on any orders being shipped to the state’s residents. This legislation was largely enacted to keep online retail Goliaths (namely Amazon.com) in check and attempt to “level the playing field” for brick and mortar stores in the state.

Amazon has now responded by suing the New York State Department of Taxation and Finance claiming “that since it does not have a physical presence in the state that it should not be required to collect taxes on shipments going to New York.” In addition Amazon says the New York law is unconstitutional based on a 1992 U.S. Supreme Court ruling that claims states are prohibited from requiring out of state retailers to collect sales tax unless the company has a physical presence in the state. New York defends the law by arguing that the Amazon Associates program, which allows Web site publishers to receive commissions by promoting Amazon items through their sites make Amazon liable to collect taxes on its behalf for those affiliates who live in New York. (this paragraph courtesy WebProNews.com)

So while the question is no longer “do you think it should happen/is it a good idea?” I now pose these questions to you all: How long before other states enact identical or similar legislation and how do you think it will affect online consumerism?

Posted in In the News | 1 Comment »

Good News For Organic Product Marketers

May 13th, 2008

A recent study conducted by Mindset Media and Nielson Online reports that consumers that regularly purchase organic products are 153% more open to new experiences. This information is useful because it means that marketers no longer need to be as concerned with marketing their products strictly through niche channels (yoga or green magazines for example) and can now look to expand their efforts across multiple networks. The key being to appeal to these consumers’ mentality. These marketing efforts will reach a much wider audience that are perhaps not “classic” organic consumers (based on participation in yoga or other traditional wellness activities marketers use to target their products through) but rather a new brand of organic consumers-ones you can appeal to through a specific way of thinking.

The study also revealed that organic buyers come from all different levels of income. This is because buying organic is a mindset. People who are organic consumers believe that no matter what the expense, they are going to reap the benefits of their purchase and in some cases, might be getting more (healthier, more durable, better for the environment, etc.) for their money. So catering a marketing strategy to this attitude should be relatively straightforward.

Posted in Marketing Your Business | No Comments »

The Best Consultants Money Can’t Buy

May 9th, 2008

No no…I’m not referring to Paris and Nicole. Sorry for the bait and switch.

As savvy as those two are at marketing (themselves) I’m referring instead to good old fashioned business students.

We all know how the internship program works. Companies offer students an opportunity to gain “valuable experience” and some times even compensation in exchange for a semester of what can be boiled down to as free labor. The students will file, fax, answer phones and fetch coffee in the hopes that their time has been spent earning them a good recommendation and bonus points on their resume.

But now entrepreneurs are looking for a more mutually beneficial relationship between their businesses and students. And this simple twist on the old standard seems to really be taking off.

A recent New York Times article highlights a few of these examples including a parachute company that requested students compile a semesters worth of recommendations for updating their website and a gourmet foods start up that had the students compose their business plan. The students garnered real life experience as well as some other perks (the parachute company offered the students a free sky diving trip!).

Business students as contractors can offer a world of insight in the form of consultations and for the low low price of real world business experience, many jump at the chance to participate.

It’s certainly something to think about. For more information about the benefits of student contractors check out Hiring Cheap Help - How Student Contractors Can Benefit Your Business

Posted in Hiring and Human Resources | No Comments »

Comment Etiquette - Say What?

May 7th, 2008

If you are in any way involved in a blog you know that positive comments are awesome, negative comments are…well, good for balanced feedback and spam comments are downright infuriating. Its the latter variety that this post is about.

You know them when you see them. Sometimes they are blatant, “Great blog! Visit my site www.bestsiteintheworld.com!”

Sometimes they are incoherent, “Greek should thy savage health insurance agents make light business contact manager windows mobile wheat.” (Whaaa?)

But most of the time, they are a little sneakier than that (in response to one of my Valentine’s Day Trend Alert posts), “Its true! We sell more Heart Valentines Day Votive candles on blacktaisaltco.com months after V Day. The Pure Himalayan Salt Lamps and regular Crystal Salt Votive candle holders sell during valentines day… most people send them to themselves as presents and not to anyone else… we had a questionnaire…proves our point.”

Yeah…so clearly, that’s marketing at work but because it was relevant to the blog post I felt inclined to allow it. And it didn’t make me feel very good either. It got me wondering if there is any sort of formal comment etiquette out there that would help marketers who are posting these comments to get what they want and not tick off bloggers?

My research led me to a SmallBusinessNewz.com article on the subject. The article’s author Chris Crum writes about how each blogger generally makes up their own policy regarding comments. There is quite a range from very lenient to very strict and not all of them are made known to commenters/readers. He links to Daria Black’s The Blogger’s Guide to Comment Etiquette which outlines guidelines the average blogger uses. Be sure to pay heed to number 1 on the list (it IS number 1 for a reason ya know…).

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

Word of Mouth Marketing is Your Best Friend

May 6th, 2008

I was introduced to PlentyofFish.com today. It’s an online dating service that was started by one guy in Canada 5 years ago. It is now the third most popular online dating service and pulls in an annual revenue of 5 million+ from Google advertising. You know how many people run it now?

Just 1.

Yes it’s true, the same guy that started it still runs the site out of his apartment in Vancouver and is sitting quite pretty with his “little” venture. The difference between his site and the others out there? Well, #1 it’s absolutely free (people love free stuff right?) and #2 his success is based solely on word-of-mouth marketing. Kind of amazing isn’t it?

So now you might be wondering “why does it work?” In a word: trust. People naturally trust the recommendations of their friends, neighbors, family and peers over that of an anonymous marketer. Seems obvious but to employ this tactic isn’t as easy as it sounds.

Anyone attempting to use word of mouth marketing tactics must be very careful not to fool anyone about the source of the recommendation. Being straightforward is key. If you are from the company you are recommending, tell people you are. Because if you lie and people find out, the trust is broken, and word of mouth will work twice as fast but negatively against you.

Things you can do to start getting the word out:

Create publicity (contests, event sponsorship, polls/surveys, organize a speech/talk, invent then present an aware, etc.)
Viral marketing/advertising ( video clips, e-books, images, text messages, etc.)
Choose influencers to spread the word (these will be individuals who are trusted already and can carry your message to their contacts)

If you have any other thoughts or comments regarding word of mouth marketing please share!

Posted in Marketing Your Business | No Comments »

E-signature Services Offer Safe and Fast Alternative to Fax Machines

May 2nd, 2008

I know I’m not the only procrastinator out there. If you’re like me, then you know that it’s one of those things that can’t easily be switched on and off, thus generally leaking over into your professional life as well. The good news is that now technology is on your side, making it easier for you to get last minute signatures on documents and contracts before they must be submitted. And what is this glorious invention? Well my friends, it’s called an “e-signature” and it’s reshaping the way people do business.

Wikipedia has a very in depth explanation (read: technical and boring) for what exactly it entails but the short and simple version is that it’s magic.

If you are a company that requires many signatures (such as insurance companies, law firms, real estate businesses, etc.) here’s why you need this technology:

-Saves time

-Saves money (after all, time IS money right?)

-Convienient

-Safe/Secure

-Easy to use

-Economically priced

-No IT

and probably the biggest benefit of all…

-Your customers will love you for making their lives that much easier (which as we know, is always good for business!)

For help on getting started check out 10 Tips for Selecting the Best Digital Signature Software Solution (free registration required)

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