A Guide to Business

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Small Business To Buy

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There are all sorts of websites out there, and clearly some of them are working much harder than others. How can you be sure your website will be a champion?



The key is website planning and strategy. Think of your website as an employee and make sure you hire the right one. If you approach this project with clear goals in mind, you will be rewarded with a lucrative asset to your business. What’s most important? The questions below will get you started.

1. What are your specific business goals?

How could your website help you achieve them? Need to increase sales through cross selling? Your website could educate customers about using your products or services together for greater value. Need to reduce time spent in customer service on the phone? You can promote your website as your primary customer service centre, helping to redirect queries that can be easily solved. A little time spent planning a job description for your site will result in a website that works harder for your money.

2. Who is your target market?

What are they looking for in your type of business? Your website will have to appeal to them and speak to their needs. If your site clearly addresses your customers’ needs, visitors will spend more time there and will be more likely to become paying customers. How can your website add value for them? If you need ideas have a look at competitor websites and imagine you are their customer. Identify what they have done well and capitalize on their mistakes. Look at other websites that you like. How did they make such a good impression?

3. What do customers like best about your business?

Is it your high quality products? Your value for money? Your speedy customer service? Your friendly staff? Whatever it is your website should reflect those aspects of your business. They are what set you apart. If you’re not sure why people come back to you consider undertaking a customer satisfaction survey to find out.

4. Do you have identifiable branding that represents the unique personality of your business?

If not, develop a branding identity that will set you apart from competitors, starting with a logo that communicates the character of your business. The visual design of your website is an extension of your brand identity. Be sure your website is dressed for success and represents your business as nothing less than credible and professional.

5. Do you have the time and skills to prepare your own content?

Be realistic here. Your written text should be concise, focus on customer needs, and use language that your customers understand. If writing isn’t your thing, consider hiring a copywriter to massage your copy or even write it for you. Make use of images and video where it will be useful to customers. If you don’t have quality images at hand, consider hiring a photographer or buying stock photography. Don’t be tempted to cut corners and compromise quality just to save a few bucks. The impact of your content is critical to your website’s success.

6. How can you take advantage of interactivity?

There’s no substitute for experiencing your product or service in person, but as this may be your only chance to make an impression, make the most of it! Establish what your customers are interested in, give it to them and lead them to action through the interactive nature of the Internet. Engage them with online competitions, printable discount vouchers, product demonstrations, live help, customer feedback surveys, etc. Interactivity can also be a great way to build your customer database or gather market research about your visitors.

7. What is a realistic budget for your website?

To plan and implement a website strategy you’ll need to invest upwards of a few thousand dollars to do it right the first time. Think carefully about your budget. Does it seem reasonable given your business goals? Think about the bottom line benefits in terms of potential cost savings as well as revenue potential.

8. How can you promote your website?

First and foremost, put your domain name on everything! Letterhead, invoices, signs, sales tags, whatever you can. It’s much easier to remember a website address than a phone number. To attract new customers via the Internet you’ll need to harness the search engines. Search engine marketing involves optimizing your website so it’s visible to customers searching for your type of business. If you are in a competitive market, you may need to budget for comprehensive search engine optimization for your site. If you’re looking at search engines as a major source of new customers you may also consider adding ‘pay-per-click’ advertising to the mix.

9. Will you manage your own updates?

Keeping your website fresh provides a reason for visitors to return to your website. If you plan to make regular content updates, consider investing in a Content Management System costing as little as a few hundred dollars. It makes more sense to pay your website developer for ongoing development rather than simple changes to content that you can make yourself.

10. How do you know if your website is a champion?

After your site has been live for several months, quantify the gains generated by your website and identify the impact your investment has made on the business. Using software tools you can establish which parts of your website are performing well, and which parts need tweaking. A website strategy is never really complete. You can always improve on the status quo. Set a regular schedule for review and don’t forget to budget for strategy changes and ongoing development.

http://www.eyeswideopen.com.au/
Small Business To Buy
Instead, you want to find an existing business or a proven business idea that you can operate successfully. But the million dollar question is: "Where do you find it?"

There are several methods of finding a business to buy, and each has its own benefits. Here are some options to consider:

Word of Mouth

This method of finding the perfect business to buy is very much chance-based and consists of someone telling you about, or you driving around and seeing, a business that is for sale. Due to its nature, you are exposed to a very limited number of businesses. And unless you are very lucky that one of the few discovered in this fashion is exactly what you want, this method is not very effective at finding the perfect business to buy.

Classified ads in the local newspaper

The old-fashioned method of finding a business to buy is to look in the classified ads in the local newspaper and see if any catch your eye. This is a very difficult way to find a business to buy for several reasons. One, the number of businesses-for-sale listed in the classifieds is very small compared to the overall universe of businesses that are for sale at any time. Two, classified ads typically present you with only three lines of cryptic text to give you background on the business. And three, classifieds do not have a search function so you have to spend a lot of time looking through all of the classifieds to find those businesses that interest you. While classifieds can serve a purpose in buying a business, they are not very efficient or effective.

Business Brokers

Business brokers are typically very professional and knowledgeable in the art of buying and selling a business. Plus they are skilled at helping sellers sell their business. But therein lies the rub - they are contractually obligated to help the seller sell the business. They are not obligated to you as the buyer. Therefore, brokers will usually look out for the seller's best interests first, which means they will often only show you businesses that they represent. This severely limits your exposure to the number of businesses that are available for sale at any one time, which makes it an inefficient method of finding the perfect business to buy.

However, more common these days are Buyer Brokers. These business brokers represent you, the buyer, in your efforts to buy a business. This can be very effective because the broker knows how to navigate the process of buying a business. However, you often have to personally pay the broker to help you buy a business, which increases your costs. Therefore, it is often best to conduct a search for a business on your own, and then hire an attorney or experienced broker to guide you through the purchase process. But where do you search for businesses on your own?

Online marketplaces

Online marketplaces typically contain an exhaustive list of businesses that are for sale. Plus, it is easy to search these thousands of businesses instantly to find only the ones that meet your criteria. This makes online marketplaces the most effective, efficient and comprehensive method of finding the perfect business to buy.

There are many online marketplaces to choose from, but they are far from equal. Some have inadequate search functions, others are just interested in collecting listing fees from business sellers, and others do not offer the buyer tools to help make your search process easier. As a result, selecting a good business-for-sale marketplace is critical in your search for finding the perfect business to buy.

You want a site that allows you to search its listings for free, and has a strong search function to help you do it effectively. In addition, you want a site that allows you to save your searches and be alerted via email ("Email Alerts") anytime new businesses are listed that meet your search criteria. This saves you the time and effort of continuously searching sites everyday looking for the right business. Instead, the site does the work for you and presents you with businesses that are of interest to you.

Finally, you want a site that puts its money where its mouth is, one that charges sellers based on performance and not on a pre-set monthly fee. These sites are dedicated to helping match business buyers with sellers while lowering the cost of selling a business. As a result, these sites are very effective for both buyers and sellers.

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About Author
Both Zoe Gray & Tom Parsley are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Zoe Gray has sinced written about articles on various topics from Small Business. Zoe Gray is the Creative Director of Magnetik. Magnetik provides a one-stop-shop for online marketing, including website design and development, search engine marketing, and logo and corporate identity design.. Zoe Gray's top article generates over 2900 views. to your Favourites.

Tom Parsley has sinced written about articles on various topics from Small Business, Franchise. About the AuthorTom Parsley is the President of , an online business for sale and. Tom Parsley's top article generates over 2900 views. to your Favourites.
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