I’ve recently been browsing Jay Conrad Levinson’s latest book: Guerrilla Marketing on the Internet, and have come across quite a few gems that got me thinking. This article is a brain dump for a few of my thoughts while reading the book.
For those unfamiliar with the term ‘Guerrilla Marketing,’ Wikipedia explains, “is an unconventional system of promotions that relies on time, energy and imagination rather than a big marketing budget.” These aren’t just strategies, they’re principles to live by.
1. Embrace Web 2.0 and Social Media
There is the old Internet and the new Internet. The old Internet was a one-way flow of information where a company, entity, or individual would put their content on a website. Visitors would view the content, and go on their merry way. The new Internet takes a collaborative, visitor-centric approach where the community creates the content and everyone benefits. Here are a few examples: Read more…
Guerrilla Marketing, Web Site Design
Guerrilla Marketing, startup, web design, website
The type of financing you need depends on what type of legal structure your new business will have, as well as the capital requirements at different stages of your venture. The most common sources are outlined below. Remember that no matter what entity you choose or where you get your start-up capital, maintain separate and thorough records for your business transactions and keep a separate bank account in the business name.
Personal Savings
Hands-down, the easiest way to finance a business is to use your own money. Make sure to complete appropriate paperwork that recognizes your investment in your company – a separate entity, to protect the Read more…
Startups
business, funding, investing, marketing, startup
This topic usually breaks entrepreneurs into two categories: those who had a name picked out from the start, and those who have no idea. If you’re one of the creative ones with a name already chosen, there are a few things to check before going forward with it. Most importantly, has anyone registered a trademark to conduct similar business in the U.S.?
There are two ways to unofficially check: 1) search the Internet for the company name to see if anyone is using it, and 2) search the trademark database online: click here, click on “New User Form Search” and type in your idea for a name. If anyone has registered that name (not counting pending applications), you can see this information in the Read more…
General Marketing
business, marketing, startup, trademarks
Competitor analysis is vital for every business. Who could compete with you for your customer base? It’s an excellent idea to do a thorough analysis of possible competitors before you go further in your venture. Search the web, online forums, phone books, your chamber of commerce, and ask everyone you know (and some you don’t). Find out who’s out there, what their strategy is, and why your business will succeed alongside your competition (or put them out of business). Remember that for some types of businesses, competitors don’t have to be located in the same city, state, or even country to take customers away from you.
I like to break down competitors into 3 different categories:
Level 1 Competitors - These are people doing almost exactly the same thing you’re doing. If you’re running a flower shop on Oak Street, these are the guys 15 blocks down on Maple. You both might have your own specialty arrangements or selection, but if you’re both ‘flower shops’ they are considered Read more…
General Marketing
business plan, competitors, internet marketing, startup
While sole proprietorships and general partnerships are the easiest legal structures to set up, they don’t provide any personal asset protection like C-Corps, S-Corps, LLCs, and Limited Partnerships. The idea of starting a business that can put 100% of your personal assets at risk is not a smart one.
There are volumes of books about choosing the right entity, but from my experience, LLC’s and S-Corps are the most multi-purpose for the startup. S-Corps have the advantage of easily morphing into C-Corps if you’re thinking about eventually going that route. They require more Read more…
Startups
business, legal, llc, portland, startup