Business Tips

A Solid Foundation

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Success is built on a solid foundationAs I drive around I see that there are a lot of construction projects going on. What I’ve noticed about them is that they start out as a hole in the ground then over a relatively lengthy period the foundations are laid. Seems like not much activity for a long period of time. Then all of a sudden, the building almost springs out of the foundations.

There is a lesson to be learned here that can be applied to most areas in business and life. I’ll leave the life lessons to your personal life coach and look at it from the perspective of your business and website.

Let’s start off with a simple question. Why did you start your business? Sick of working for fools? Wanted to be the master of your own destiny? Wanted to be the next Warren Buffet? Whatever the reason, one thing remains true for all:

Those who fail to plan, plan to fail.

I know it’s a trite old saying but there is a reason it has been around so long. It’s true.

Usually when you start your business, you have an idea for a product or service that you want to offer. Most people know about their product but not about business. It’s one of the reason that most small businesses fail.

In the Illawarra, there are around 2,500 new businesses starting every year and just as many closing. Why is that? In most cases it is not because they have a bad product. Business Know How sites 7 common reasons[1] for a business failing.

  1. You start your business for the wrong reasons.
    Would the sole reason you would be starting your own business be that you would want to make a lot of money? Do you think that if you had your own business that you’d have more time with your family? Or maybe that you wouldn’t have to answer to anyone else? If so, you’d better think again.
  2. Poor Management
    New business owners frequently lack relevant business and management expertise in areas such as finance, purchasing, selling, production, and hiring and managing employees. Unless they recognise what they don’t do well, and seek help, business owners may soon face disaster.
  3. Insufficient Capital
    Business owners underestimate how much money is needed and they are forced to close before they even have had a fair chance to succeed. They also may have an unrealistic expectation of incoming revenues from sales.
  4. Location, Location, Location
    Location is critical to the success of your business. Whereas a good location may enable a struggling business to ultimately survive and thrive, a bad location could spell disaster to even the best-managed enterprise. This is also for your online location.
  5. Lack of Planning
    Anyone who has ever been in charge of a successful major event knows that were it not for their careful, methodical, strategic planning — and hard work — success would not have followed. The same could be said of most business successes.
  6. Over-expansion
    A leading cause of business failure, over-expansion often happens when business owners confuse success with how fast they can expand their business.
  7. No Website
    Simply put, if you have a business today, you need a website. Period.

Click here to read the full article at businessknowhow.com

“Good fortune is what happens when opportunity meets with planning.” (Thomas Edison)

So if you want your business to succeed, you need to plan and to build a strong foundation.

Number 7 on the list was “No Website”, I would also add to that “The Wrong Website”. Let’s look at some of the reasons[2] a website fails and can add to the failure of the business and what you can do about them:

  1. Lack of content
    If there is nothing useful to your target audience, there is no reason for them to visit.
  2. Wrong domain name
    No one searches for Bob Smith and Co. so a domain name of bobsmithandco.com will attract very little attention. People do search for Warilla Tyres so try to get the domain name warillatyres.com, even bobsmithwarilltyres.com is a better option. Notice that there are no dashes in the names I’m using. That’s because dashes make it harder to tell people your address. Try saying “bob dash smith dash warilla dash tyres dot com” to someone. It’s a real mouthful and hard to remember. It’s much easier to just say “bob smith warilla tyres dot com” and easier to remember.
  3. Most website owners don’t update or proofread their sites
    Lot’s of spelling and grammar mistakes tells people that you are not very good at your job and it’s a huge turn off. Also, why go back to a site if there is never anything new there. One of the things Google looks for is “freshness”; if you don’t update, you slide down the search results. Make sure the content of your site is well written and give your visitors a reason to come back.
  4. Too many adds on the page
    You create a web page to tell your customers about your business. A load of adds will just turn them off. A few well placed adds that complement your business is fine but don’t overdo it. It looks very unprofessional.
  5. Spending too much on your site
    You don’t start your business off as a multi national corporation. Your website needs the same consideration. Don’t try to build everything at once. Look at your site as a long term investment. Start with the basics and build on it as your business grows and evolves.
  6. Not enough time spent researching keywords
    What if I build it and no one comes? It’s a question everyone asks. Well the way to get them to visit is to make sure that they can find it. One way to do that is to make sure your site is built on the right keywords. I’ve started a series on this[3]. Check it out here.
  7. Not optimising your website
    Huh? What does this even mean? Very simply, it means building your site in such a way that the search engines rank your site well so people can find it. It’s about using the right keywords and phrases that people will search for and structuring your site around them and the use of things such as social media and social bookmarking. Stay tuned, I will be creating a series on how you can optimise your site.
  8. Not responding to visitors
    People hate being ignored. If you have a contact page on your site and someone sends a query, make sure you respond quickly to let them know you care. It is also good to have an automated response to let them know immediately that their message has been received. It should also tell them when they can expect a response.
  9. Not having a site at all
    Most businesses are aware that they should probably have a site but don’t know what to do about it so they do nothing. The good news here is that you don’t need to know that much. Just like you know you need a car so you get one and leave it to the dealer or the mechanic to service it, you need to find a site developer that can develop a site that suits your business. Pick someone that can understand your business and what it needs to ensure that you get a site that helps you build your business.

This all sounds like a lot to take in and there is a whole lot more if you dig enough. What is important is to understand what you want from a site and then build a solid foundation around that. A website should complement your business, not be the centre of it. It is your connection to the world. Build it the same way you build your business.

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