We believe Midland American Capital is a great factoring solution for businesses is because they are focused on being a longterm partner with their clients and have knowledgeable development officers who can help businesses understand factoring clearly. Midland provides invoice factoring services for a broad range of industries from Distributors to Technology Providers.

Screen view of Midland American's website homepage

For small businesses, blogging can be a great way to build visibility. As you write great content, other authors and readers may begin to follow your blog and respond to your posts. This can be an excellent way to find new clients or attract talent. Your blog articles can be a great way to elegantly and indirectly advertise your business through social platforms like LinkedIn and Facebook.  It can also establish your business as an authority within a niche or field related to your core industry.

For large businesses and corporations, blogging can be a fantastic way to talk about new services or products and give a comfortable and less formal, inside view of the innovations of the company. Blogging can be more interesting for users because of it’s freedom from dry formality. Corporate leaders and staff can use blogging to build a relationship with users and quickly respond to and address their needs. It is vital for users/customers to feel like they are being listened to and understood. Blogging can also be a way to give companies a greater visibility to other organizations, partners and in tangential markets. Polls, feedback forms, star ratings and other user inputs can also give larger companies a way to understand user needs and desires–as companies collect feedback based on topics and announcements during the innovation life-cycle.

Goal-setting for business bloggers

• As your team questions the value of blogging, you should first answer the simple question: Is blogging simply a passing interest for your team? Can your team really commit to the platform and process and maintain it longterm?
• Define a main purpose for each blog. By defining a purpose, you prevent writers block and also don’t let readers feel confused. Having a focus keeps content, thoughts and topics focused on the business purpose of the blog–it also helps you define the value of the blog and the time commitments of blogging clear to key stakeholders.
• Create a content plan: Start by writing a list of topics and categories that your blog will cover. Try to draft a schedule of how frequently your business can and should publish content on the blog. Assign resources to this content plan (see next).
• Commit the right resources to the blog. If your business begins to blog, you need to account for the time it takes to construct and edit posts. Remember your blog speaks on behalf of your organization so quality is important. Start by creating a content plan, which outlines the topics your blog will focus on and who in the organization will write the articles and when. Make sure that blogging fits within the writer’s workload–don’t over commit or let the blog fall by the wayside.
• To advertise or not: If you are blogging for business, you need to question whether the amount of money you can make from advertising is worth it. You can always do a test run with advertising and measure it’s impact. Also, go back to your original purpose for blogging, does advertising distract from or cloud that purpose. For example, if your purpose was to inform a user on the advantages of using your product, then advertising the products or other companies would potentially harm the core purpose of the blog.

The fastest growing and simplest way to market your business is by using social networking techniques for marketing.  This term encompasses a variety of methods and is also referred to as Internet Marketing or Social Media.  Some examples are:

1.    Blogging: Many businesses choose to utilize internet marketing by creating and maintaining a blog.  Content should be updated regularly to keep visitors coming back, and can include online discount coupons and special offers for your internet customers.  This form of social media is particularly suited to providing a personal touch to your marketing strategy since the tone of blogs is often informal.

2.    E-mail marketing: Many small business owners ask their customers to voluntarily provide their e-mail addresses and will then send updates, advance notice on sales or special promotions, and coupons.  This is not to be confused with spam, which is unsolicited e-mail and should be avoided as an online marketing tool.

3.    Social Networking Accounts:  Establishing a page on a social media site such as Facebook can increase your business’s exposure dramatically.  This form of marketing may also include a Twitter account for more up-to-the-minute updates on your business.

4.    Website: One of your most vital marketing tools today is a company website.  Potential customers no longer flip through voluminous phone books to find the business or service they are looking for.  Their first choice is usually a search engine that will point them to your website.  This form of online marketing requires striking a balance between eye-catching design and utility and ease of navigation. Business owners that are strapped for cash and whose first time it is for owning a website may look for template options, but with some more experience, a small business owner may later hire a web design company to provide better branding, stronger design, integrated social media and clean coding.

Internet marketing is no longer considered to be in its infancy and there are now many outstanding opportunities to grow a small business with the proper targeting of social networking techniques.  Business owners in Kentucky know that any form of marketing is dependent on knowing your intended customers and customizing your strategy to reach them. Social networking techniques for marketing are no different in this regard but have the advantage of often being able to be implemented with less money and provide higher returns than traditional marketing methods.

This article will help:

1. Business owners understand the benefits of purchasing an established website
2. Signs to identify bad investments in ready-made websites (or web businesses)
3. Where to buy an established website or web business

Why would I want to buy an existing website rather than just build my own?
Some business owners might prefer to start from scratch and build a new website by hiring a web design company or freelance web designer. However, there can be a few draw backs to building a website from scratch. One is cost. Depending on the type of website that you want to build and the quality of coding and design, it can turn into a relatively costly process. Granted the cost of building a website will vary between companies, quality, timeframe, experience of the designer, and reputation. In many cases, a lower cost website may not be better for your small business–as a website can be one of the most important marketing devices a small business owns and uses. Another downside of creating a brand new website is timing.  It can take quite a bit of time to build a quality website. For example, it took one of our members about three weeks to build a static website, because they decided to purchase extra time to refine their design (look and feel) and get the messaging right. Most web design companies will charge for extra rounds of revisions during the design process.

Purchasing a ready made website can be a quick way to enter the market.
Purchasing a ready-made website or web business can allow you to speed up the process of “going to market.” Granted, you may need to clean up a few things or add new content to the purchased website. Also, you will need to ensure that the website that you are purchasing is quality. (See below for quality assurance testing of ready made websites).  In many cases, when you purchase a website, you will have a chance to view the design of the site, wade through the site content and get some facts about it. In this way, you will know what you are buying and can select a site or web business that will give you a head start. Many companies struggle with starting a new website because writing content can take a lot of time–and content production can cause web projects to miss their deadlines. The editing process can be tough, at times. Also, some websites that are for sale may already have traffic, search engine prominence or even revenue… which will give you a leg up from other start-ups.

What are some common signs that a website is poor quality or a bad investment?

• Double check to see if the website is committing gross copyright violations
• Too many links? Make sure the website isn’t over linking, which can cause penalties in Google and other search engines.
• Make sure the site has quality content!
• Click through the site and look for broken pages, elements and links
• Make sure the website accurately reflects the market you wish to enter

Background checks and quality assurance for purchasing a website
Hiring a web strategy company can help you identify whether a website is quality by doing an SEO and website audit before finalizing the purchase. Spending a few hundred dollars to hire a web strategy company can save you a lot of time and money down the road.

What are some factors that may demonstrate high quality within a for sale website?

• Content, content, content: Good content goes a long way!
• Page ranking: Google uses a ranking system to measure the strength of a page within search engines. You may not need a ready high page rank, but it certainly can help.
• Good design: clear and interesting (or just simple) design can really make or break a website. Bad design can certainly contribute to a website’s failure.

Where can I purchase a ready made website?

• eBay: search for “websites for sale”
• flippa.com – an online marketplace for buying and selling websites
• marketplace.sitepoint.com/ — a marketplace for established websites and existing web businesses.

How do I sign up?
Visit the Creative Cities newsletter form for more information and sign up details: http://creativecitieslexington.us1.list-manage.com

Protect your family’s personal assets

Tax advantages
An incorporated business can reduce the amount of tax owed to the IRS by deducting any costs that are related to the business. Depending on your type of business, there are numerous tax benefits for home business owners. Besides equipment like books and computers, you can also deduct salaries, bonuses, and medical and retirement payments paid to employees.

Establish credibility
A formal business structure provides your business with a sense of legitimacy in the eyes of your customers, vendors, and banks.

Raise money by selling stock
Should your business need more capital, you can issue shares of stock to investors from an incorporated business. Capital can be raised by selling stock whether your business is a startup or is a well established company that is seeking to expand.

A trend for advertising to move online

It costs thousands of dollars for a business to advertise offline whether you place advertisements in local Newspapers, Magazines or mailing marketing materials to your customers.  Many small business owners in Kentucky have focused more attention to advertising on the Internet because they realize they can save thousands of dollars on advertising cost.

On the Internet there are many ways to advertise your business from $0 to $500+.  You can actually advertise your website for free on sites like Craigslist and article marketing on sites like EzineArticles.com.  You can even advertise your website for a sponsorship fee on high-ranking websites like ABCNews.com or social media sites like Facebook.

24/7 showcase of your products/services

Imagine being able to showcase your products and services 24 hours per day and 7 days per week? That’s one of the primary benefits of having a website. Depending upon the type of business you’re in, your customers can make purchases through your website while you sleep. For instance, if you own an online auto parts store or clothing store, your customers can purchase your products through your website at anytime of the day without having to call or wait until normal business hours.

More people are researching purchases/services online before buying

People are using the Internet to research before they buy a product or service. This is why it is so important to have a strong online presence so that your customers can actually find you on the Internet.  For example, a person searching for a good accountant in Kentucky is more likely to search on websites that offer a lot of valuable information about their accounting services. The consumer is more likely to choose the company with the best web presence.

For some a website is a primary selling tool

There are many companies that use their website as their primary selling tool.  There are a couple of factors that are important to possess when it comes to selling effectively on the Internet. First, you must have a well designed website that is “clutter-free”. In other words, keep it simple.

Avoid having a website that has too many ads. When a visitor enters your site, they are searching for only one thing and that is “what’s in it for me”. You will lose potential customers if your website screams “Buy Me Now!”

To truly gain your customer’s attention, you of course want to have a great product or service to offer your customers but you will want to also make sure that you’re offering a good amount of quality content about how your product or service will benefit them.  This may include offering articles on your website, a blog or a video clip about your company.

Static website vs. CMS editable website

The difference between a static website and a CMS editable website is simple. A CMS editable website shows different text or content during your customer’s interaction. This type of website is complex and recommended for those who are constantly updating their website with fresh content on a daily, weekly or monthly basis.

A static website is good if you’re not planning on updating your content on a regular basis. You can actually use Microsoft Word to update and edit your website on an as needed basis.

How Much Does a Website Cost?

It all depends on the kind of website you need for your business. Prices vary and can start as low as $500 to $20,000+.  The important thing is to find a reputable web designer or web development firm to build your website. You will also want to work with a company that will build a site that is search engine friendly.

There are basically four types of websites:

Corporate Brochure Style Website

This is type of website offers your visitors basic information about your products and services. Think of it as an online advertisement. Prices start at around $500 or more.

E-Commerce Website

This type of website can vary from simple to complex. An ecommerce website normally starts off at around $5,000 or more.  This type of website is perfect for an online retail store where customers have access to purchase your products.

Contact info:
Cincinnati USA Regional Chamber
441 Vine St Ste 300
Cincinnati, OH  45202-2812
1 513 579 3111
cincinnatichamber.com

About the organization:
The Cincinnati USA Regional Chamber is the nation’s fifth largest Chamber, representing the interests of nearly 6,000 member businesses. The Chamber provides numerous services, including business retention and attraction, programs and events, member benefits to improve members’ bottom line, solutions to members’ workforce challenges, government advocacy, and more to create and sustain a positive business climate for our community, including demonstrating a commitment to small business assistance and economic inclusion.

When you begin writing your business plan, start by defining your current and past business operation. You will then need to describe your goals for your company’s future and explain fully how a financial investment in your company will enhance your goals and reward potential investors. Be very clear about defining your goals for the future and stressing them above all else.
Step One:

Start with a numbered Table of Contents. You will need to name and number each section of your business plan for clarity and ease of use.
Step Two:

You will need an Executive Summary, comprised of 1-2 pages focusing on your business plan’s primary points of interest. Include descriptions of your management team’s structure and process, marketing techniques, business alliances, market size, profit potential, also be sure to include the dollar amount you are requested and outline your re-payment plan. You may actually decide to write this section last, after all the variables have been defined.
Step Three:

You will need a detailed Business Description that includes your mission statement, a thorough explanation of your company, your business’ philosophy or management model, as well as your primary goals and desired achievements.

Include in your business description a concise overview of the field you are operating in, as well as your services, products, and strengths that are unique in your field to your company. Be sure to include the specifics of the company’s legal form of ownership.
Step Four:

Next you should furnish a more in-depth list of Products / Services that your business offers. This expanded description should include your pricing structure and marketing scheme.
Step Five:

Outline your Marketing Strategy. Describe how your business’ marketing plan will work to capture market share. Give specific details about your public relations strategy.

It is important to include an analysis of Marketing Data. Identify your Target Audience, their demographic and specific information about your target market. Next, identify and define the industry you are operating in. Be specific about market growth, size, trends, and other related details. You also want to include a review of your competitors and the positive and negative ways they are managing their marketing campaigns.
Step Six:

It is important to have a clear explanation of your day-to-day and long term Business Operations. Include details about your company’s location, staff, machinery/equipment, legal considerations, operational expenditures, and the processes used to carry out daily operation. Also add information about operation practices unique to your business.
Step Seven:

A Management Outline is a vital feature in a well-crafted business plan. Explain the experience and strengths of your staff members, include job descriptions, and an delineate of your management processes.

Explain who has the management responsibilities. Even attach key employees’ resumes as supporting materials. All primary employees should have their jobs clearly described. An outline of other important advisors to your business should be included with this portion of the report.
Step Eight:

Devise a clear Financial Plan. You will want to state Financial Projections of up to three years into the future. In order to deliver a clear financial plan, you will need to describe your overall income statement. Include details about your cash flow, break even analysis, forms of funding, balance sheet, spreadsheets, and requests for future funds.
Step Nine:

Close your report with an Appendix. In addition, you will need contracts, supporting documents, letters of intent, research, and any pertinent related information.