The goWholesale Blog

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 »

Beat the Weak U.S. Dollar–Go Global!

April 30th, 2008

Expanding overseas is a common idea entrepreneurs have in their business plans as a "down the road" growth option but with the recession and subsequent weakening of the U.S. dollar, it might just be the key to keeping your business afloat. Many companies are able to sell their products for twice as much as they can here!

While opening a brick and mortar store is certainly optimal, if you are a small company who doesn’t think you can spare the capital to do so, don’t fret. Another perfectly viable option is to open an international website (ie. a .uk site). Yet another option is to ship over seas and accept various forms of currency, if you’d prefer to test the international "waters" before you take the plunge.

Be forewarned however…going global is no easy (or small) task. Tracey Mullin of the NRF’s STORES Magazine states:

"In addition to potential hurdles with vendors, disparities in laws and differing customer priorities, retailers must identify a merchandise mix that appeals to a new demographic. While the transition may be a bit easier for online retailers, these companies face their own challenges nuances in language, inventory control, even the selection of website colors and fonts."

Yes, it’s risky and a lot of work…but it just might keep your business from succumbing to this dismal stateside economy.

Check out our Doing Business Internationally articles for more tips on how to get started going overseas.

Posted in Doing Business Internationally | 1 Comment »

SEO Rapper Spits the Basics–Word.

April 29th, 2008

Alright, so who says SEO has to be dull and boring? The SEO Rapper a.k.a. Poetic Prophet a.k.a. Charles Lewis is on the scene and his SEO tutorials on YouTube are informational AND entertaining. He relays just the basics but that’s about all this format will allow for. So if you’re just starting out with your website and you have a well trained ear for deciphering rhymes layered over thudding bass beats (or an old pro looking for a little entertainment) check it out:

He’s also got clips on link building and paid search. Enjoy!

**Remember this as a great example of thinking outside the box as well. This guy’s getting a lot of buzz for doing something different…yeah it’s a little cheesy and high school presentation-y but it’s got people talking…and that’s the key.

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

The Great Consumer Schism - Tips for Brand Name Retailers

April 28th, 2008

It’s begun. The Great Consumer Schism is effectively working its way through America-an event last experienced in this country in the ’70s. Economic disparity in America is nothing new. But in times of recession the division is inflated and even more apparent as seen through shifts in spending habits. It makes perfect sense of course that middle to lower income households are switching from brand name items to generic in order to save a few bucks.

So what does this mean for retailers? Well, if you sell cheaper products, this is great news! If you sell brand name (and therefore more expensive) products you may want to reconsider your strategy. Here are a few suggestions:

Consider including cheaper items in your inventory as an alternative for customers with tighter budgets.
Revamp your advertising to appeal strictly to wealthier customers.
Revamp your advertising to enforce the value of brand name products over generic.
Offer "freebies" along with the purchase of certain brand name items.
Have a sale! Who doesn’t love a sale?

These are just a few ideas to get you started thinking in the right direction. For more tips check out Don’t Let a Slow Economy Slow Down Your Business

Posted in Generating More Sales, In the News | No Comments »

Internet Sales Tax Looms for NY…Will It Catch On?

April 24th, 2008

Interesting…very very interesting.

Do you think states should be allowed to levy a sales tax on online purchases?

Well according to a WebProNews.com post , New York is attempting to test those waters. Legislators are trying to pass a bill titled the "Amazon Tax" and are targeting online retailers who are not located in New York. The sales tax would be attached to any items shipped to the state. Proponents of the bill say it will help level the sales tax playing field for brick and mortar retailers and they estimate it will generate around $50 million in tax revenue for the state.

Opponents claim the tax is being introduced due to miscalculated spending and that this tax is being invented to compensate. Large companies such as Amazon have reviewed the bill and believe it will be challenged in court.

Thus far, the government has been reluctant to allow states to regulate internet transactions.

What do you think?

Posted in In the News | 1 Comment »

DollarDays Revamps Its Website!

April 23rd, 2008

Our friends at DollarDays International , a Web-based virtual warehouse, where small business owners and charities can find great deals on small business-sized orders for more than 25,000 consumer products, have redesigned their website to be more customer friendly. The new and improved features include allowing customers to find exactly what they’re looking for with greater ease as well as the ability to enlarge pictures to see exactly what the products look like. Early tests of the new site indicate that the average order has increased over 8%. At the same time new customer registrations have already almost doubled from 327 a day at the end of 2007 to 631 a day currently- a figure that is expected to continue to climb even faster with the new site.

Posted in Announcements | No Comments »

Fuel-enomics: 10 Tips for Small Businesses as Prices Continue to Rise

April 22nd, 2008

Crude oil prices are up 16% already this year and show no signs of slowing down. So without further ado and straight from the dailybreeze.com here are 10 great tips on how small businesses can deal with the soaring gas prices:

1. Add a separate fuel fee. Call it a fee, call it a surcharge - call it whatever you want. But more and more small businesses are tacking on a special charge to offset the cost of gas. Customers may not be happy, but most understand since they’re dealing with the same situation themselves. They don’t expect small businesses to absorb gas price increases forever.

2. Restructure your pricing or territories. Some businesses are restricting the areas they serve, or charging more to go out of area. Others are raising minimum charges or putting tiered pricing in place to compensate for having to travel greater distances.

3. Use an outside shipper. Small businesses that once delivered small supply orders themselves are finding it cheaper and more efficient to send things via UPS or the postal services. In many cases, items arrive in just a day or two. Shipping services Web sites such as RedRoller.com can help you find the lowest-cost carrier.

4. Leverage the Web . Show customers how buying online and by mail order can save them money by not having to visit your location. Use Web-based collaboration sites to "meet" with clients, freelancers, partners and others rather than meeting in person. A few choices include Zoho , Basecamp and WebEx .

5. Hop into a hybrid. A few years ago, there were only a couple of hybrid models to choose from. Now there are dozens, including SUVs and vehicles suited for small-business needs. Even if you don’t get a hybrid, lighter-weight vehicles and those with smaller engines may be far more fuel efficient than what you have. If you plan to switch, a great place to compare fuel efficiency information is at FuelEconomy.gov .

6. Charge by the mile. If your business or profession allows for it, a per-mile charge might work best. This allows for small adjustments whenever needed. The standard IRS mileage rate for 2008 is 50.5 cents per mile, up from 48.5 cents in 2007.

7. Drive less. Have your suppliers deliver items you need to your business rather than picking them up yourself. Use online map-routing services like MapQuest.com to plan service and delivery routes better, for maximum fuel and time efficiency. Group jobs together to reduce travel.

8. Get rebates on gas purchases. Gas rebate credit cards are increasingly popular with small businesses and can net you cash back of up to 6 percent on what you spend. The higher fuel prices go, the more you get back. Just be sure you pay the bill on time, or interest charges will more than eat your savings. Find gas rebate cards at CreditCardGuide.com or PumpandSave.com , which currently lists the Discover Open Road card as the best deal with 5 percent cash back on all gas and auto maintenance.

9. Find the cheapest gas. While it doesn’t make sense to drive far to save a few pennies, there can sometimes be a surprisingly large price difference just a short distance away. GasBuddy.com and GasPriceWatch.com are two Web sites that specialize in helping find the cheapest gas in your area.

10. Follow fuel-efficient driving tips. You’ve probably heard them - avoid jackrabbit starts; keep tires properly inflated; run air conditioners less, keep vehicles tuned and air filters clean, etc. WikiHow.com has a long list of ideas for "How to Save Money on Gas." Search the title at the site.

For more tips check out Oil prices are going up–ways to cut down on the business energy bill and Little Cost-Cutting Tips that Add Up to Big Savings.

Posted in Finance and Accounting, In the News | 1 Comment »

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