Small Business Social Funding: Preneuraholics.com

I recently learned of a cool new website via my ongoing social networking, and I was impressed enough with the idea  to share with you here on Return On Now.

[NOTE: I am in no way, financially or otherwise, affiliated with the service I am about to preview for you.]

For those of you who interact with me on Twitter, surely you’ve seen the materials I’ve been sharing regarding the difficulty of getting your hands on financing or investment capital for your small business ventures. Credit markets have been squeezed to a pulp, it has been challenging to figure out how decisions are being made at the SBA, and angel investors and venture firms are being more cautious than we’ve seen in years when doling out funds. What’s an entrepreneur to do?

The answer: Turn to your peers!

Preneuraholics was created to connect business owners who need some startup capital with other business owners who might be gracious enough to donate a few dollars to the cause. For a nominal $49 fee, you can list your business with a description of it and why you need the money. Then, others can donate whatever they feel comfortable sharing, even as little as $10.

Preneuraholics: Small Business Social Funding
Preneuraholics: Small Business Social Funding

This is a great idea! With all the talk about goodwill and giving back, there is finally an easy way to share not only advice and insight, but also cold hard cash. The power of this model will come from the number of participants. After all, most of us can afford to donate $10 or $20 to a struggling entrepreneur who just needs a break. In the grand scheme of things, that is not a lot of money to give up, but it can add up rather fast with solid participation. In fact, the site does a great job of highlighting how fast funds can add up…again, with the right level of participation by not only the businesses themselves, but other small business owner peers.

Need more incentive why you should participate here? In their own words…

It is time to take back the American Dream.
Americans are uniting together to develop a whole new system of small business funding.
By joining forces we can help each other.
It’s all in the power of unity!

And who can argue with those points? Not me, for one.

The site is still very new, so they are just now building up projects seeking funding and participants to help make it happen. I chose to write it up because I think it’s an idea that needs your support. Please check out the site, create a login, and see if there’s anyone you can help. Heck, reach out to them afterward and introduce yourself. I, for one, would be more than willing to engage with a new contact who believes in my idea enough to donate to it.

Please come back after you review the site and let me know what you think of it. And if you want to engage with the site proprietors directly, you can find them on Twitter @preneuraholic.

Entrepreneurs: Top 5 Sites to Market Yourself

With marketing having fundamentally changed over the past several years, it is becoming increasingly important to have an online presence. And this is a great thing for those of us who aspire to operate as solo entrepreneurs or very small companies. Now, your voice can be heard loudly and clearly by more people than ever before. It has become so much easier and cheaper to get in front of new customers and prospects that a physical store is now an option, rather than a must.

As a result, if you are not taking part in the following communities, it’s officially time to start thinking about it. Your upside depends on it.

NOTE: to get a better view of  the below screenshots, you can click them to see a full-screen version of each image.

Twitter

Twitter

1. Twitter - I must admit it; I’ve become a verified Twitter addict (as if you couldn’t tell by my weekly Twitter digest on here). After having been part of various social media services over the past 10+ years, I really didn’t get the power of Twitter on first glance. But boy do I now. If you can’t afford or won’t pay for PR, then you absolutely need to get on Twitter and start engaging with folks. All it takes is your time and effort.

LinkedIn

LinkedIn

2. LinkedIn – This is the premier business-to-business networking site, and it’s not just an online resume like some have accused it of being. Don’t just set up a profile on there and forget it. Connect with other professionals in your field and your locale. Join some groups and contribute to the overall discussion of the groups. [This is also a great place to promote your own blog or news.] Spend a little time answering questions when you can. You can even connect your LinkedIn account to several applications and social media sites/profiles now.  I have personally made important business and personal contacts on LinkedIn, so consider me a believer in their model.

Yelp

Yelp

3. Yelp – Holding true to the idea of word-of-mouth, this site lists local businesses and allows patrons to submit ratings and reviews of the businesses. This is particularly useful for retail, restaurant, or other similar standalone operations. Yelp is a great way to reach tourists who are visiting your city, but just be sure you are good enough to garner positive ratings on the site. The risk is that poor ratings are available to everyone as well. Go test it out as a user first to see how your competitors show up [ and to see if you've made it in there in spite of yourself]. Look for your favorite restaurant as another example. If you see it will offer value for what you do, get on it stat.

PitchEngine

PitchEngine

4. PitchEngine – A trusted colleague of mine turned me on to PitchEngine over a year ago, and I’m a bonafide fan of their model. The offer a “social media press release” service for free, which is syndicated to Google via an RSS feed after the releases go live. You can also embed images and multimedia files in the releases. I’ve used the service multiple times for various employers and clients, and have gotten better coverage than with paid releases!! But of course there is one catch: PitchEngine will only archive releases for 30 days on the free plan. You can pay a monthly fee to have them store indefinitely. Just do what you can afford and what is right for your business, and you can save hundreds of dollars vs. using a PR service. [Update as of December 2011 - Pitchengine has removed the expiration on free releases per their founder, Jason Kintzlervia Twitter: "Was just sharing your post that included PitchEngine (from January) Wanted to let you know, we've updated and pitches no longer expire! ;) "]

YouTube

YouTube

5. YouTube – Video isn’t just for media and television companies any more; everyone is doing it now. There are so many benefits to using multimedia like video to market yourself, from SEO to backlinks from YouTube to engaging a more visually-cognitive audience. Be sure you tag all videos with keywords you want to rank high in when posting to YouTube. I also recommend you post another copy of the same video on your web server, embedded into the home page or another location on your website. That way, you get the SEO benefit from backlinking from YouTube and you also get a shot at ranking highly on your own right. Video is most certainly on my to-do list for new features to add on Return On Now, and it really should be for your business as well.

What other social media services do you see as must-haves for small businesses and entrepreneurs? Catch me up on any great ones that I’m missing here!

 

The 10 Commandments of B2B Social Media

Good morning, Merry Christmas, and Happy Holidays. As I sit here awake early with  my baby awaiting everyone else (who, by the way, are still sleeping), I decided to share a little holiday cheer by way of my 10 commandments of B2B Social Media.

B2C and P2P are the easiest forms of using social media for most, and we have plenty of materials available in the blogosphere about how to attack those areas. But what I see lacking is a breadth of content about B2B.

So let’s start simple…10 important tips for how to use social media  correctly in B2B.

  1. Respect those who have chosen to befriend you, lest they move on. Yes, the various social media are great tools for reaching more eyeballs than ever before, especially if you are a cash-strapped small business. But you can never take it for granted. Social media got “opt in” right where email did not, and “opt out” is quicker and easier than ever before. Don’t forget it.
  2. If thine must pitch your product or service, back off the hard sell. If you want to play in the social media circles, there’s nothing worse than shoving your sales pitch down the throats of those who give you a couple of seconds of their time. Of course you can talk about your product, technology, reviews, case studies, etc.; just drop the used car salesman act or you’ll find yourself posting tweets and updates to no one.
  3. Buy me a drink before you ask me back to your apartment. Okay, the biblical verbiage got tired quickly, so onto other metaphors. Never forget that, regardless of communications medium chose, you are still dealing with real people. Engage. Show interest. Identify a need…first! Keep in mind you still need to use general rules of diplomacy and courtesy, whether face-to-face, on a conference call, or exchanging ideas on Twitter or LinkedIn.
  4. What I need is a chisel, or maybe a shovel, or wait, was it a pickaxe? Don’t get enamored with the tools. How many sites and systems have we seen for “getting 100′s of followers a day”, measuring Twinfluence (whatever the heck that is), and calculating the time of day tweeps tweet? Yes, use the tools right, but I long for the day when the conversation is more about what we are accomplishing via social means rather than where we are taking part in the conversation.
  5. Go to the land of your people, and you shall be rewarded. Remember the classic rules off marketing, even if they no longer all apply. Experienced marketing professionals have already figured out how to target the right audience. If you are playing around on a new social media site, make sure you can find them or you’ll just waste valuable time and effort on the wrong prospects.
  6. Be sure you have a way to lead your sheep to water, or you will be the one with thirst. Sorry about the “sheep” metaphor, but the point is pretty clear. Just talking to someone via social media doesn’t pay the bills. How are you going to drive them to your website? How will you get people into your sales funnel? How will you prove that this is where the lead originated? How will you measure it all? Sure, you can just look for some quick exposure, but at the end of the day, you have to figure out how to turn it into revenue.
  7. Watch what you say, because your potential and current customers are listening. That’s right, even if they’re not participating and seem like they aren’t paying attention, they are. Don’t say anything that you wouldn’t stand in front of a reporter and share. Because saying it on a social media property is just as likely to make its way to the press as it is your mom or brother-in-law.
  8. Pay it forward and it will come back two fold. This is a simple rule of networking that sometimes gets completely forgotten. If you want your network to bring you value, you must first offer value to them. Think about the Emotional Bank Account idea from Stephen Covey for example.  Believe in Karma or not, business is about people first, because they buy, spend money, share good experiences with friends, and ultimately, they make or break you.
  9. When in doubt, shut up! Quite simply, if your options are to say something dumb, offensive, or otherwise highly controversial, you are safer just to abstain from commenting. Unless you buy into the belief that “no PR is bad PR” and like to take enormous risks. In the vast majority of cases, discretion is more important.
  10. Keep it real, and keep it fun. While it’s crucial to take 1-9 into account, people want to engage with a real person with whom they can relate. Be conversational. Ask questions. Even crack lighthearted jokes. You want to build a relationship, just make sure it’s a potentially productive one.

On that note, I’ll get back to my holiday and leave you to yours. I hope the holidays are all that you hoped for them to be.