(Part 3) Top products from r/smallbusiness

There's a lot of free digital opportunities available to you, you just have to know how to leverage them. First off, you need a responsive website and a free Google Analytics account. If you don't know how to get that, it's easy enough to look up and learn yourself. Google has lots of learning videos on how to use Analytics. https://analyticsacademy.withgoogle.com/

Things that are nice to have: event tracking on buttons or call to actions, a dedicated phone number to track conversions on (you can set this up through Google for free). A CMS that allows you to easily make changes to your website based on the information you see in Analytics.

What else? Monthly email campaigns, Mail Chimp is free and has templates. Get people to sign up for your newsletter on your website by offering an incentive like "20% off when you sign up" and include a phrase they have to mention in their welcome email.

Do extensive profiling on your target demographic. Where do they live, how much do they make, what are they interested in, do they have generally have kids, do they own a house, do they have pets, do they shop at whole foods or at a cheap store, are they value shoppers or are they brand whores, what other services are they likely to use?

Save that info.

Optimize the assets you have to be better found online. Use the H1 title tag for page titles and H2 for section headers. Simple yes, widely done by SMBs? NO. Make sure you have meta tags filled out for every page that are relevant.

Write one blog a week on a topic related to what you do. Write on Medium, submit articles to y-combinator, do thought leadership exercises and posts on forums (don't be sales-y, try and help people, it goes a long way).

Offer a free download in an email (of a PDF, something to get someone to click).

Use whatever website traffic you get to analyze the behavior flow and click events on your website. Keep track of your conversion rates on buttons. If some are low performing, make changes to your website.

Offer "free training" or whatever else is included in what you do.

PPC: If you really know your demographic, PPC can be very powerful, even on a limited budget. Make sure you are using the right keyword groupings, if something isn't working well right away, kill it. I see ads on instagram for software and it has a dog in the picture as the main focus. I use instagram for dog stuff. Clever. Very clever. Be that clever.

Facebook ads are great because its SO easy to see if something is working well. I have never had a mediocre ad. It's either wildly successful or it instantly sucks and I take it down. Use the canvas ads, they are VERY interactive and you can tell a story.

Keep producing content. Make a buzzfeed list of something somewhat related to your industry that people can relate to. Share that on all your social media accounts. I got LOTS of followers that way. Lists are great. Lists with the current year in the title as a blog post are even better.

I have been a Marketing Director for years, and recently started my own business. I have a $400 monthly budget (for my own business) and am currently using that successfully to build brand awareness, gain traction and get referrals. Let me know if you have any questions.

I also recommend reading this book:
https://www.amazon.com/Crossing-Chasm-3rd-Disruptive-Mainstream/dp/0062292986/ref=pd_sbs_14_t_0?_encoding=UTF8&psc=1&refRID=5G89YEVQ59YTNM41FSTK

Online courses are really hit or miss. Most college courses on "business" don't really teach how to start or run a small business. They either teach big business... how to work in a large corporation... or how to create a startup. Both of those are markedly different from starting and running a small business (even an online one).

There are some great books about starting and running a small business, though. Here are a few of my favorites:

Financial Intelligence for Entrepreneurs

This is an excellent book on business finances for the non-accounting types. I took accounting classes in college but never really got what all the financial reports really meant to my business' health. This will teach you what's important in the reports, what you should look out for, and how to read them. This is critically important for a small business owner to understand, even if you plan to hire a bookkeeper and accountant.

The E-myth Revisited by Michael Gerber

Awesome book about building systems in your business to really grow it to the point where it's not just a job for the owner. It's easy to read and probably one of the top 5 business books of all time.

Entreleadership by Dave Ramsey

This is a good book and covers several different aspects of entrepreneurship from hiring and managing employees to marketing, setting the vision, etc. It's hokey at times, but is a good read.

The 7 Habits of Highly Successful People by Stephen Covey

Not necessarily a "small business" book, but easily my top #1 book recommendation of all time. It's hugely applicable to any professional, or anyone really. I re-read this book every couple of years and still get more out of it after almost 20 years.

Getting Things Done by David Allen

THE productivity book. Even if you only absorb and implement 25% of the strategies in this book it will make a huge difference in your level of productivity. It's really the game-changing productivity system. This is one of the biggest problems with small business owners - too much to do and no organization. Great read.

I would optimize your website for sales! Here's a few ideas off the top of my head.

1. When I came, I had to physically look for the sales button in the middle of the navbar - This should stand out, at the end of the bar different color or in an entirely different location like fixed somewhere.
   
2. Your setup isn't very good for SEO - Top p[age slider etc... It could be optimized a little more!
   
3. Homepage needs products. What should people buy, what is most popular, top seller, weekly promotion, something that shows you guys are selling.
   
4. I see you have a Twitter - Awesome. Now, get Facebook, Pinterest (this one for sure. If you brand your profile right, every girlfriend will be giving this to her BF next holiday) Instagram, Snapchat, etc. You could even run some ads on here, there's subs that would be receptive of the right promotion. You're selling a male lifestyle, so platforms like instagram and snapchat are going to be huge for building an image around your lifestyle. I use FB to earn shares and likes with content, inevitably the word of mouth of the internet. I use Twitter for hashtag exposure and getting discovered by completely new people, or connecting with people otherwise impossible. Snapchat, IG, great for building an image.
   
5. If you haven't already, break down your target market to a tee. Then separate marketing duties and find out the optimal way to use those tactics to reach the consumer, or perhaps the person who will be shopping for the consumer - ie. Mom, wife, girlfriend, friend
   
6. Partnerships. What goes with a good beard? Good coffee, good scotch, a classy barber, some cufflinks.... Find some partners. Network, become friends, rub each others backs.
   
7. Sponsor some people. Youtube channels, guys with bad ass beards - Who's the ones that care about their beards in quantities? Perhaps fashion oriented guys, maybe it's students, whisky lovers, business owners, whatever your focus is, reach them with industry influencers.
   
8. Remarkable content is king, still. What is your target interested in? Write a weekly piece that offers content they like. Style guides. Mens accessories. 5 beard styles that get you laid. 10 of the most successful people with badass beards.
   
9. Speak to your customer. You are not selling what you do, but why you do it. It's all about pushing the lifestyle. If you reach your target with a lifestyle that applies to them they will give your product a try. This TED talk changed my life - https://www.ted.com/talks/simon_sinek_how_great_leaders_inspire_action?language=en. This book as well - https://www.amazon.ca/How-Brands-Grow-What-Marketers/dp/0195573560/ref=sr_1_1?ie=UTF8&qid=1459360271&sr=8-1&keywords=how+brands+grow
   

Not really. Back in mid-late-80's there was an incredible book, let me pause to see if I can google it...: )

yo, so much success....

https://en.wikipedia.org/wiki/In_Search_of_Excellence

http://www.amazon.com/In-Search-Excellence-Americas-Companies/dp/0060548789

That background is a little rough to read, but the book is amazingly well written. Sure, some of the companies are out of business now, etc. But he made a herculean effort to identify what makes companies great. We were familiar with most of those companies, you won't be. There have to be hundreds of books that analyze what makes the Facebook and Googles successful. But most companies aren't anywhere near that big, and they are still making lots of money. You can read case studies and just mentally move the decimal over to the left a place or three and extrapolate that scenario happening to a smaller company.

You have to get the technology down on whatever you go into, and so much of what you may be looking for may be in the cyber space. But a lot of businesses are based on personal relationships, with customers and employees, and the internet hasn't changed the fundamental nature of that. People want to trust, so give them a reason to trust you and tell their friends about you.

Maybe that's it for now : )

In general every path is different, so take all advice with skepticism. Study of entrepreneurship has shown that reality differs from traditional teaching. For example, business plans tend to be used after the fact for improvement rather than seriously up front. This is covered well on Effectuation. The E-Myth books cover important basics, though most of those books say the same things and it does not always apply. Paul Orfalea's Copy This is pragmatic and inspirational. An old but still good book with various lessons about doing business is Startup by Jerry Kaplan. The book Founders at Work has lots of real stories that drive home how much work startups are and how different and in a way alienating the work can be, as starting something is not like having a job.

For ideas and inspiration in general the Change This site can be a good source. Good luck!

Sounds like a train wreck in the making.

As part of the deal, get some training in day to day operations. Most of these guys are so used to how the business runs they aren't even conscious of dozens of little details. Find out through observations as much as what they tell you. Employees can help -- if the business isn't churn 'n' burn.

If you're keeping the employees, find out their strengths, weaknesses, tendencies, etc. Too many of these have no concern about employee interaction with customers, and these employees are the face you show the public. Don't get a new logo. Because these people represent your branding in ways no graphic designer can even comprehend.

Develop a "dashboard" for financials. Know what your margins are, because small time retail is harsh. If you and your accountant are on speaking terms, coming up with a few key indicators to look at that tells you at-a-glance how the business is doing.

You have "the book." That's the current owner. Don't close it just yet, that's your best book -- if you know how to read it.

Next, see where the losses are. Shrinkage. See what you can do to reduce it because that's money hemorrhage.

For example, if you have clothes on hangers ...right by the front door, alternate how the hanger hooks face. Something simple like this can keep a shoplifter from grabbing a whole rack and making a dash.

Once again, every business should have a few dozen of these tricks-of-the-trade. Be sure to go after them with the owner. And developing some of your own should be on your list of things to do.

My suggestion on reading would start out with Why We Buy by Paco Underhill. Consumer behavior 101. If nothing else it tells you how to read your customers like a book through observation. Not what they say, what they do.

Visual merchandising has many margin growing ideas. Learn them.

Marketing is vital for your business. First is knowing the difference between consumers and customers. Best thing you can do is have a database of best customers you mail to.

Don't have one? Owner doesn't keep track? Get one. Get every best customer into it. Learn how to market. Not how to slash prices -- how to market your business. Slashing prices, the "sale" is the price you pay for not learning to market.

Despite what everyone and their brother tells you, if your marketing hinges on running discount sales, consider your marketing a failure in need of immediate attention. Know marketing. Know copywriting. Know customers.

Finally, do update the business. Integrate online sales with retail purchases. Do innovate with an integrated online/offline mobile presence if at all possible. Evaluate and consider making over the physical retail space, if needed.

Don't get caught up on bells and whistles and surface decoration that does, literally, nothing for the business. Test everything and become a fanatic about testing. If you want a mentor, take a look at how this guy does it. All the crap designers sell today? That's to make up for the owner's lack of interest and enthusiasm.

Learn that design -- real design -- can be a strategic asset and not vapid junk. Design your business, do not decorate it. Worst thing you can do in retail is misunderstand design. Move up the design maturity continuum.

Accounting will tell you there's a problem. Design can tell you what the solution is ...if you're not splashing about in the shallow end. Accounting gives you the numbers. Design drives the numbers.

When Gateway was closing all its stores, along came Apple to eat everyone's lunch. Why? Everyone else was looking at the numbers, running their business by the numbers. Apple focuses on driving the numbers.

This is so not about S corp versus LLC. You do not want to have to fall back on limited liability shielding -- the last resort when all else fails. Figure this out and get it out of the way -- quickly. Avoid failure. Grow the business.

Read this book https://www.amazon.com/Building-StoryBrand-Clarify-Message-Customers/dp/0718033329/ref=mp_s_a_1_3?ie=UTF8&qid=1540049636&sr=8-3&pi=AC_SX236_SY340_FMwebp_QL65&keywords=story+brand&dpPl=1&dpID=41gwu0NcCrL&ref=plSrch

It goes into creating a story around a brand. If your website is just like every other site then there's no reason to buy from you. Focus on what makes you unique and your customer experience.

If you're selling on your website get your tracking system in place. Callrail.com for call tracking, Analytic goals and Google ads. It's much harder to setup that you would think and I think finding a good developer that is familiar with all the setup is important.

Have all your accounts setup under your name and add the developer as a manager (not admin). There is absolutely nothing worse that a developer relationship going sour and they're holding all the cards.

Check upworks.com for a designer. Look overseas to find good deals, ask for references and portfolios. Be specific on what you want so there's no feature creep on your website that ends up costing you more.

Don't pay your developer upfront except for a deposit. Final payment should be given when everything is completed.

I've read a lot of business books in the past year. These include:

7 Habits of Highly Effective People

Rich Dad Poor Dad

Think and Grow Rich

How to Win Friends & Influence People

Secrets of Closing the Sale

How to Master the Art of Selling

The E-Myth Revisited

The Compound Effect

The Slight Edge

The $100 Startup

The Toilet Paper Entrepreneur

I have 4HWW waiting to be read, in addition to about 15 other books that are sitting there, waiting to be read.

The $100 Startup is very inspiring, especially for people who have no chance at securing a "normal" job (I dropped out of college). The Toilet Paper Entrepreneur is also very informative. But out of this list, by far, my two favorite books are The Compound Effect and The Slight Edge. #1 going to The Slight Edge. Read this book. Maybe it won't apply to everyone as much as it did to me, but it totally changed my attitude towards life.

i suggest you (any entrepreneur) take a look at this book. i am sure you will find helpful bits in it. the guy is a globally known business organization consultant

Corporate LifeCycles: How and Why Corporations Grow and Die and What to Do About It Hardcover – November 15, 1989

by Ichak Adizes (Author)

https://www.amazon.com/Corporate-LifeCycles-Corporations-Grow-About/dp/0131744003

edit: good luck!

This isn't a direct answer to your question - but as you continue in your business, I'd highly recommend grabbing a coy of Managing the Professional Services Firm.

Maintaining, growing and scaling a Prof. Services business is fundamentally different than, say, an e-commerce biz or brick-and-mortar retail etc.

This is a tough one! Lots of good textbooks out there. This is the one I use: http://www.amazon.ca/books/dp/0205770886. Lots of references to pop culture, too! You'll want to think about hiring a publicist if you're a pop band, too :).

For some interesting insight on how the process works I recommend reading The Wal-Mart Effect. Fascinating, and disturbing how much influence they have. When you say "large retailers" you may not mean as large as Wal-Mart, but you can still get an introduction to how cut-throat retail can be. https://www.amazon.com/Wal-Mart-Effect-Powerful-Works-Transforming/dp/0143038788

I've not researched much on the commercial side of things, but I've done a shit ton of research on investing in duplexes/fourplexes. I'm sure they have their differences, but they also would have similarities too.

What I would recommend doing is your research. Buy books like this and this and listen to the pros. I feel you're getting a lot of mix information here and some of it I'm a little questionable about.

The one by Cialdini.

https://www.amazon.com/Influence-Psychology-Persuasion-Robert-Cialdini/dp/006124189X/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=1570653170&sr=8-1

I picked a copy up used on amazon or ebay for less than $10 delivered.

Why Employees Don't Do What They're Supposed To Do...And What To Do About It

Selling coffee beans with skepticism
Nietzsche's Roast
https://www.amazon.com/dp/B07YR2LXYH/ref=cm_sw_r_cp_apa_i_QHA4DbFPZ16DG

> How would I go about determining the value?

I wouldn't. I would listen to their offer, then refuse because regardless of their offer, it's not their best offer. negotiate from there. I would also read this book now